Topic: Bitcoin and Government. - page 4. (Read 3604 times)
The major issue of Cryptocurrency with the government is the decentralization, anonymity and inability to have the earnings made from bitcoin taxed. Until all these and much more are being attended to, there will always be issues between the government and Cryptocurrency.
Indeed, the spread of bitcoin in our country has brought good things to us and I am pretty much sure that government are also now figuring out how they can maximize the benefits of their people as well as the government itself from bitcoin. If the government will pursue bitcoin, it will strive to control the transactions and will contradict the very nature of bitcoin which is decentralization. But good thing about bitcoin, it is useful for online payments and transfers and most of all, a high valued digital currency and a source of a profitable investment for all of us.
it would be useful if the government used bitcoin for payments. This is a great help, With government benefits from bitcoins users will benefit from the government. So no much taxes for all bitcoin users. For that, the government will benefit from that and the government can legally use bitcoin. Is it good combination about bitcoin and our current government? lets talk about this things if these two option was combined in the future, Our government used bitcoin and spread to every people in there countries. For me it is good. why?
Because:
1. Is good for all businessman for good transactions. Buy something and sell something.
2. Is good for payments needs to pay like billings every month.
3. For less time and moved for travelling on anywhere we want.
4. Its easy to transfer money from other country with less taxes. this favor is aprove for ofw's
5. Easy to transfer money if they needed immediately like emergencies. pay for medicine.
Theres a lot of good reason.
Aside from these advantages, what about we consider disadvantages. The conventional money we used will be disregard and the bitcoin's value will affect the country's economic state which is risky since bitcoin is volatile or if bitcoin becomes stable, it doesn't be as profitable as it is now. If the conventional money is replaced how do we supposed to have our own currency. I think it is impossible that goverment will allow bitcoin that much to replace own currency or conventional money because it is uncontrollable. Because:
1. Is good for all businessman for good transactions. Buy something and sell something.
2. Is good for payments needs to pay like billings every month.
3. For less time and moved for travelling on anywhere we want.
4. Its easy to transfer money from other country with less taxes. this favor is aprove for ofw's
5. Easy to transfer money if they needed immediately like emergencies. pay for medicine.
Theres a lot of good reason.
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Number of quite important things have happened this week with Government involvement in Crypto Currency.
1) The Justice Department is now publicly talking about how they are drawing out a plan for crypto currencies. Read article here -> http://learnccrb.com/2018/02/justice-dept-developing-comprehensive-cryptocurrency-strategy/
2) Coin Base have just been forced to hand over 13,000 customers records to the IRS so that the people profiting from Crypto can be taxed. Read article here -> http://learnccrb.com/2018/02/coinbase-to-send-13000-users-data-to-the-irs/
I personally believe we are about to see massive government involvement with Crypto as it threatens the scam that is Fiat Currencies and Tax Revenue.
1) The Justice Department is now publicly talking about how they are drawing out a plan for crypto currencies. Read article here -> http://learnccrb.com/2018/02/justice-dept-developing-comprehensive-cryptocurrency-strategy/
2) Coin Base have just been forced to hand over 13,000 customers records to the IRS so that the people profiting from Crypto can be taxed. Read article here -> http://learnccrb.com/2018/02/coinbase-to-send-13000-users-data-to-the-irs/
I personally believe we are about to see massive government involvement with Crypto as it threatens the scam that is Fiat Currencies and Tax Revenue.
Is it good combination about bitcoin and our current government? lets talk about this things if these two option was combined in the future, Our government used bitcoin and spread to every people in there countries. For me it is good. why?
Because:
1. Is good for all businessman for good transactions. Buy something and sell something.
2. Is good for payments needs to pay like billings every month.
3. For less time and moved for travelling on anywhere we want.
4. Its easy to transfer money from other country with less taxes. this favor is aprove for ofw's
5. Easy to transfer money if they needed immediately like emergencies. pay for medicine.
Theres a lot of good reason.
Sounds pretty good, if every country allows all transactions using bitcoin, and everyone buys bitcoin, so bitcoin value will be higher. But will it have a good impact on the economy of all countries and people? and what about people who do not understand with bitcoin and how the currency of each country exists, whether it will be removed from its position as currency? I think that's impossible. Because:
1. Is good for all businessman for good transactions. Buy something and sell something.
2. Is good for payments needs to pay like billings every month.
3. For less time and moved for travelling on anywhere we want.
4. Its easy to transfer money from other country with less taxes. this favor is aprove for ofw's
5. Easy to transfer money if they needed immediately like emergencies. pay for medicine.
Theres a lot of good reason.
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The state is getting big gains thanks to taxes.
Bitcoin is a great gain on behalf of people by providing free money transfer.
That's why the state does not like the bitcoin stock exchange.
Bitcoin is a great gain on behalf of people by providing free money transfer.
That's why the state does not like the bitcoin stock exchange.
Indeed, the spread of bitcoin in our country has brought good things to us and I am pretty much sure that government are also now figuring out how they can maximize the benefits of their people as well as the government itself from bitcoin. If the government will pursue bitcoin, it will strive to control the transactions and will contradict the very nature of bitcoin which is decentralization. But good thing about bitcoin, it is useful for online payments and transfers and most of all, a high valued digital currency and a source of a profitable investment for all of us.
Is it good combination about bitcoin and our current government? lets talk about this things if these two option was combined in the future, Our government used bitcoin and spread to every people in there countries. For me it is good. why?
Because:
1. Is good for all businessman for good transactions. Buy something and sell something.
2. Is good for payments needs to pay like billings every month.
3. For less time and moved for travelling on anywhere we want.
4. Its easy to transfer money from other country with less taxes. this favor is aprove for ofw's
5. Easy to transfer money if they needed immediately like emergencies. pay for medicine.
Theres a lot of good reason.
Because:
1. Is good for all businessman for good transactions. Buy something and sell something.
2. Is good for payments needs to pay like billings every month.
3. For less time and moved for travelling on anywhere we want.
4. Its easy to transfer money from other country with less taxes. this favor is aprove for ofw's
5. Easy to transfer money if they needed immediately like emergencies. pay for medicine.
Theres a lot of good reason.
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I agree, and good points as well. I think that the cryptocurrency market, if it is properly incorporated in locals markets, would really bring a lot of good changes leading to a more productive market. It gives options are to means of payment, modes of investments, and medium of trade that could make the local markets even more active. Also, as more and more people would support it, it can strengthen the assets in such market through increased usage rates and better trust ratings.
I think the reason why so many countries ban bitcoin is because the advent of Bitcoin has broken the traditional trading model and made the country's tax policy difficult to formulate. The uncontrolled bitcoin should be the government's most worrying issue.
You have a point. the government can not allow bitcoin users because they can not get tax on bitcoin. So government do not allow bitcoin to work or use bitcoin for peoples needs. For the sake of my opinion we should carefully consider the bitcoin for the benefit.
I think the reason why so many countries ban bitcoin is because the advent of Bitcoin has broken the traditional trading model and made the country's tax policy difficult to formulate. The uncontrolled bitcoin should be the government's most worrying issue.
Is it good combination about bitcoin and our current government? lets talk about this things if these two option was combined in the future, Our government used bitcoin and spread to every people in there countries. For me it is good. why?
Because:
1. Is good for all businessman for good transactions. Buy something and sell something.
2. Is good for payments needs to pay like billings every month.
3. For less time and moved for travelling on anywhere we want.
4. Its easy to transfer money from other country with less taxes. this favor is aprove for ofw's
5. Easy to transfer money if they needed immediately like emergencies. pay for medicine.
Theres a lot of good reason.
Because:
1. Is good for all businessman for good transactions. Buy something and sell something.
2. Is good for payments needs to pay like billings every month.
3. For less time and moved for travelling on anywhere we want.
4. Its easy to transfer money from other country with less taxes. this favor is aprove for ofw's
5. Easy to transfer money if they needed immediately like emergencies. pay for medicine.
Theres a lot of good reason.
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You're definitely correct. There are so many advantages of allowing bitcoin in a certain country. I think you are a Filipino citizen and I am too. We are so lucky that our government allows us to use digital currency. But I think allowing this has also disadvantage in our country. We all know that earning bitcoin is tax free. So, instead of looking for a job they will just focus in it.
that's your opinion! if Bitcoin is accepted in a country and the government agrees to use payments through Bitcoin, what about the conventional money used every day? this indirectly will make the infrastructure of a country no progress forward
Actually not too many people who use bitcoin as a means of payment because not many also can accept bitcoin as payment. we here the majority of trading and investing in bitcoin to get a lot of money if it is in get we can still sell it with the payment of a legitimate currency in a country so in conclusion we still use the payment in the currency in accordance with the state but get the money through the coin. and has confirmed bitcoin instead of currency but in the form of digital goods. 
That is only your point of view but in reality government's will never really use bitcoin as their main currency because they could not gain any revenue thus the government will be unable to assist the citizens and the country will not progress. Bitcoin is just alternative way of payment if one wants decentralized, secured and fast transaction currency then he/she can use it or just sick and tired being oppressed by the centralized system then btc is right there.
Is it good combination about bitcoin and our current government? lets talk about this things if these two option was combined in the future, Our government used bitcoin and spread to every people in there countries. For me it is good. why?
Because:
1. Is good for all businessman for good transactions. Buy something and sell something.
2. Is good for payments needs to pay like billings every month.
3. For less time and moved for travelling on anywhere we want.
4. Its easy to transfer money from other country with less taxes. this favor is aprove for ofw's
5. Easy to transfer money if they needed immediately like emergencies. pay for medicine.
Theres a lot of good reason.
bitcoin can also be used for transactions to the world. but that's a bit risky, because bitcoin could be used for illegal transactions of goods from other countries around the world. Because:
1. Is good for all businessman for good transactions. Buy something and sell something.
2. Is good for payments needs to pay like billings every month.
3. For less time and moved for travelling on anywhere we want.
4. Its easy to transfer money from other country with less taxes. this favor is aprove for ofw's
5. Easy to transfer money if they needed immediately like emergencies. pay for medicine.
Theres a lot of good reason.
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If Bitcoin and the government were mixed, then there would not have been any economic problem in the country. Many people know Bitcoin is very useful. Although I am new here but everyone around me has made huge progress through Bitcoin, which is unimaginable .So if the government recognizes Bitcoin, people will be benefited.
I see like Bitcoin is becoming more and more legal. Blockchain and smart-contracts becoming a reality of business relationships. And this is very important for improving modern economy and the world.
Blockchain is a revolutionary technology and its worth is now understood by the big business empires. Even many countries who have made bitcoin legal are thinking about introducing their national crypto currencies. Indeed, current economy cannot survive without blockchain technology. 
I see like Bitcoin is becoming more and more legal. Blockchain and smart-contracts becoming a reality of business relationships. And this is very important for improving modern economy and the world.
Governments are always greedy for the controls, they want to control each and everything including financial flow within the country. Bitcoin is based on blockchain technology which relies on the decentralization and it takes away the power of control from the traditional authorities and it transfers the power to us, the users. So I do see less friendly approach from the government store word such technology, especially in the financial sector. As of now governments are still in the wait and watch mode and they are planning to roll out rules and regulations for this sector.
Kalua speaks very well for Bitcoin problem transactions quickly but the Government must see first in the gambling transactions whether right or wrong. recently on behalf of the Government of memfonis and it's wrong not bitcoin can be used for all users of the bitcoin.
Somehow a good point to be happened in the future but it will take a lot of years to be realized. There wil still a lot of debates and discussion to be happened with the Government officials aboit cryptocurrency as a medium of exchange in almost every establishment and institutions. What I am talking about is a cashless payment when buying something in a market. Yet it may be certain. We may not know, we cannot predict future.
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