No, Bitcoin is decentralized. It's not controlled, it's not regulated, it is neither legal nor illegal.
However there are countries that took steps to limit bitcoin's uses as they can't regulate it. Most notable is China's banning of bitcoin, and there's also a country pushing for a regulate cryptocurrency (forgot which one).
Topic: Controlling Bitcoin - page 2. (Read 438 times)
I think it can be controlled. Maybe not totally, but it can be controlled. Don't forget that one company already control almost half of the Bitcoin hash power. Soon they will reach 51% and they will be able to manipulate with bitcoin transactions.
Technically there’s no single person control it. It’s the whole Bitcoin community control it alltogether.But in the real world, those who owned tons of bitcoin, especially those participate earlier has big influence on the bitcoin development
Can any government control bitcoin?or add taxes for btc users?
Well, for governments to control Bitcoin is a difficult thing. The control can be in diverse ways but governments can take charge of Bitcoin. Bitcoin is its own technology and can take care of itself. What governments can di is to set regulations, and yes they can tax BTC transactions Can any government control bitcoin?or add taxes for btc users?
No government can control BTC because it's not centralized and they cant print more of it or manipulate it in any way. The only thin governments can do is pass laws that can forbid people from using it or to tax them. Governments always find a way to tax something.
Some of the countries force to pay taxes for declared crypto
I think who control the price of bitcoin is the coinmarket and the tax depend of it but the government can make an additional tax to have profit from btc transaction
Can any government control bitcoin?or add taxes for btc users?
This is impossible. It has been nine years since Bitcoin began. The government cannot control it. This has already been proved.
Yep, and I think that is what the countries who haven't banned BTC yet are planning to do. I even heard some news that China would want to review their regulations on blockchain next year (and I'm sure that will encompass Bitcoin)
Control currency may not be anyone, because it is dispersed, unstable and easy to transfer.
Taxes on bit coins and crypto currencies are heavy in Japan.
Government will be able to control readily from the outside.
Government will be able to control readily from the outside.
Can any government control bitcoin?or add taxes for btc users?
I think it is very difficult to happen,bitcoin is decentralized and digital currency,that's why,there's no single authority can control it.
The long answer is: No
No person, organization or government can control a truly decentralized digital asset.
States can control two things:
-- Their own fiat currencies and banking systems. Meaning countries who criminalize crypto currencies can make it difficult for exchange markets that deal in fiat.
-- The internet. With very limited success, though. Especially on Bitcoin, which runs perfectly fine over onion routers (TOR network). VPN services and proxies do the job too.
Pandora's box is open.
No person, organization or government can control a truly decentralized digital asset.
States can control two things:
-- Their own fiat currencies and banking systems. Meaning countries who criminalize crypto currencies can make it difficult for exchange markets that deal in fiat.
-- The internet. With very limited success, though. Especially on Bitcoin, which runs perfectly fine over onion routers (TOR network). VPN services and proxies do the job too.
Pandora's box is open.
I think the government can control bitcoin.It can be assumed that in the next 1-2 years in the most advanced countries, cryptocurrencies will receive a final definition, according to which tax legislation will be created within the next few years, possibly adapted exclusively for cryptocurrencies.
No and yes. Due to the technology being decentralized, meaning that there is no one server that contains the bitcoins. It's person to person, or peer-to-peer technology. No necessary middleman. But exchanges and other services can act as go betweens but no one can stop bitcoin. As far as it being taxed, it already ti depending on the country. There is no acceptance of BTC as a payment though to government agencies as far as I know. But they tax in Fiat currency. Once again, depends on the country.
I think it is not possible to control by the government because of its decentralised behaviour. Government directly can't add taxes to bitcoin but they can add taxes in exchanges while trading, with the support of the exchanges. But it is not that much simple to add and track taxes. When some convert their cryptocurrency to fiat currency, then the government can add taxes to your bank account.
if it is not a colonial state, the states are standing with taxes. States use every way for tax. if you can control the crypto money world. of course they get taxes.
I think it's impossible that the can control bitcoin because not only 1 person is using bitcoin and it is decentralized so no who can control or own this bitcoin except for tax, which is government could do how much tax they could ask.
Regulation is one of the government wanted just to restrict bitcoin use, but it doesn't affect the bitcoin price unless if the government could invest a large amount of money in bitcoin and maybe they can manipulate the price of bitcoin.
Regulation is one of the government wanted just to restrict bitcoin use, but it doesn't affect the bitcoin price unless if the government could invest a large amount of money in bitcoin and maybe they can manipulate the price of bitcoin.
They can regulate and tax if the your trading is done a US based exchange. I’m not sure we are at that point yet.
Can any government control bitcoin?or add taxes for btc users?
Governments cant really "control" bitcoin, however they can enforce regulations. They cant really tax the transactions that take place within the bitcoin platform as the identity of each trader is unknown but once transactions leave the bitcoin platform and are traded for fiat they can be traced and the government can regulate and monitor them. By creating something that is detached from any regulating authority, it removed all control of governments and central banks and so regulation will require a well-coordinated effort across almost all economies.
Jump to: