Topic: Calling for regulations and paying taxes (Read 178 times)
Compliance in paying taxes is highly recommended for anyone who earns income because that is the only way to get attention from various governments, never to follow the wrong footsteps like that, a country if you want an improvement there is the application of taxation in accordance with local law, you You will never be avoided maybe you have been in this world and have watched in a few years your parents always pay taxes because to avoid law, I think everyone is strongly advised to pay taxes that prioritize people who get bigger than us, there are considerations for justice in this world, crypto will go to such a thing as not to be included in tax fraud.
taxes
no matter what the currency is. there are already laws for people to pay taxes. if you want to pay taxes then continue to pay them. its like living in america but getting paid in EUROS. you still pay your american taxes by just using the exchange rates and paying tax in dollars. so nothing needs to change.
its not like new laws need to be made to force IRS to accept EUROS or Pounds..or btc. so just calculate your income and pay in dollars.
keep bitcoin out of government hands or you'll end up with them hoarding btc and we are still in the same FIAT situation. where btc is just a fiat and not all taxes actually end up in 'public services' but in government back pockets
by handing IRS btc. what happens is every trade that occurs people have to hand over 20% of their bitcoin.
alice (1btc) -> bob(0.8btc)
-> IRS (0.2btc)
bob (0.8btc) -> dave(0.64btc)
-> IRS (0.16btc)
dave (0.64btc) -> bob(0.512btc)
-> IRS (0.128btc)
as you can see it doesnt take long for the IRS to hoard half the coin circulating.
as for regulations
these are to allow businesses to police their customers. its not a consumer protection. its a business sherrifs badge to make people trust they are honourable so people give them funds.
what people should be lobbying for is consumer protection. meaning consumers police the businesses and so the businesses have to not break the law or suffer the consequences
no matter what the currency is. there are already laws for people to pay taxes. if you want to pay taxes then continue to pay them. its like living in america but getting paid in EUROS. you still pay your american taxes by just using the exchange rates and paying tax in dollars. so nothing needs to change.
its not like new laws need to be made to force IRS to accept EUROS or Pounds..or btc. so just calculate your income and pay in dollars.
keep bitcoin out of government hands or you'll end up with them hoarding btc and we are still in the same FIAT situation. where btc is just a fiat and not all taxes actually end up in 'public services' but in government back pockets
by handing IRS btc. what happens is every trade that occurs people have to hand over 20% of their bitcoin.
alice (1btc) -> bob(0.8btc)
-> IRS (0.2btc)
bob (0.8btc) -> dave(0.64btc)
-> IRS (0.16btc)
dave (0.64btc) -> bob(0.512btc)
-> IRS (0.128btc)
as you can see it doesnt take long for the IRS to hoard half the coin circulating.
as for regulations
these are to allow businesses to police their customers. its not a consumer protection. its a business sherrifs badge to make people trust they are honourable so people give them funds.
what people should be lobbying for is consumer protection. meaning consumers police the businesses and so the businesses have to not break the law or suffer the consequences
Of course this will depend on which country you live in, but your taxes pay for amongst other things:
1. schools
2. pensions
3. health care
4. social security
5. defence
6. justice system
7. infrastructure-like roads etc
The list is almost endless, so next time you drive along that nice smooth highway or need to call the fire service remember it's paid for by taxes-that is not to say you shouldn't legally minimise your tax burden.
1. schools
2. pensions
3. health care
4. social security
5. defence
6. justice system
7. infrastructure-like roads etc
The list is almost endless, so next time you drive along that nice smooth highway or need to call the fire service remember it's paid for by taxes-that is not to say you shouldn't legally minimise your tax burden.
Taxes. Do you realize the central bank prints our money out of thin air? This money is backed by nothing. It can be and is printed a will! They then tax you, taking half your income. The theft of your income (tax) should not be necessary if the money can simply be printed. Further since they are printing all this extra money the half you get to keep inflates away. Did you sign up to pay for this tax or were you forced into it? This tax along with our consumerism addiction is what keeps us locked down as slaves. Bitcoin is introduced to us that gives us a means to stay private and most of the forum members here are lining up to pay taxes and fill out KYC forms for airdrops. WTF.
We are paying for and allowing our own slavery.
We are paying for and allowing our own slavery.
You may or may not agree with the concept of taxation, but Bitcoin was not invented as a means of avoiding taxes. There are consequences of evading taxes, whether you earn in fiat or crypto. You have to be prepared to face the consequences. The question is whether you are ready to take the risk of doing some jail time, just to avoid paying a little bit extra in taxes.
Generally, you are true. Cryptocurrencies should remain decentralized and anonymous.
I am sure most of the people want Cryptocurrencies to remain decentralized and without any regulation.
Some people think regulations can help the market to be more secure and they might be right. Because without regulations, I don't think governments allow Cryptocurrencies become a payment system in shops and for every sell and buy.
I am sure most of the people want Cryptocurrencies to remain decentralized and without any regulation.
Some people think regulations can help the market to be more secure and they might be right. Because without regulations, I don't think governments allow Cryptocurrencies become a payment system in shops and for every sell and buy.
It will be good as well to check the excess of fake ICO that scammed investors. And it will encourage trust for many to invest, it will increase the adoption and popularity of cryptocurrency
I'm surprised to see how many forum members are looking for regulations and eager to pay taxes to their overlords. I think we as a community need to take a long look at this and not have the knee jerk brainwashed response most of the populace will have. To obey and conform.
Regulations. Why would you want the blockchain/crypto to be regulated by the government (bankers)? We were just given the keys to the kingdom with a free form of money that is not part of the banking/government cartel and we are now just a few years later asking them to come in and regulate things? The entire reason we need crypto in the first place is because these governments/bankers have screwed us over in every way possible and the theft has become so rampant the system is breaking and a transition needs to be made. It's unthinkable to me that people are not outraged and trying to stop these leeches from destroying this technology. The really sad part is some are willing to allow it in so they can make a quick profit.
Taxes. Do you realize the central bank prints our money out of thin air? This money is backed by nothing. It can be and is printed a will! They then tax you, taking half your income. The theft of your income (tax) should not be necessary if the money can simply be printed. Further since they are printing all this extra money the half you get to keep inflates away. Did you sign up to pay for this tax or were you forced into it? This tax along with our consumerism addiction is what keeps us locked down as slaves. Bitcoin is introduced to us that gives us a means to stay private and most of the forum members here are lining up to pay taxes and fill out KYC forms for airdrops. WTF.
We are paying for and allowing our own slavery.
Regulations. Why would you want the blockchain/crypto to be regulated by the government (bankers)? We were just given the keys to the kingdom with a free form of money that is not part of the banking/government cartel and we are now just a few years later asking them to come in and regulate things? The entire reason we need crypto in the first place is because these governments/bankers have screwed us over in every way possible and the theft has become so rampant the system is breaking and a transition needs to be made. It's unthinkable to me that people are not outraged and trying to stop these leeches from destroying this technology. The really sad part is some are willing to allow it in so they can make a quick profit.
Taxes. Do you realize the central bank prints our money out of thin air? This money is backed by nothing. It can be and is printed a will! They then tax you, taking half your income. The theft of your income (tax) should not be necessary if the money can simply be printed. Further since they are printing all this extra money the half you get to keep inflates away. Did you sign up to pay for this tax or were you forced into it? This tax along with our consumerism addiction is what keeps us locked down as slaves. Bitcoin is introduced to us that gives us a means to stay private and most of the forum members here are lining up to pay taxes and fill out KYC forms for airdrops. WTF.
We are paying for and allowing our own slavery.
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