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Topic: Controlling Bitcoin - page 3. (Read 438 times)

sr. member
Activity: 518
Merit: 257
May 04, 2018, 03:01:35 PM
#10
Can any government control bitcoin?or add taxes for btc users?
I don’t know what do you mean by the word “control”, but it implies that you are asking could government own Bitcoin or could they increase or decrease Bitcoin? This obviously is not possible. But yes, the government can affect investing in Bitcoin in its country by framing some laws that can hinder the people from investing in cryptocurrencies. And some governments have already started levying taxes on income from Bitcoin.
legendary
Activity: 2296
Merit: 1014
May 01, 2018, 10:14:11 PM
#9
Can any government control bitcoin?or add taxes for btc users?
They can add taxes its in theirs power.
However they cannot control it. Bitcoin is decentralised technology.
Its basic stuff i recommend bitcoin whitepaper  only 8 pages.
hero member
Activity: 1834
Merit: 759
May 01, 2018, 10:08:45 PM
#8
How can they require taxes for those you uses Bitcoin if they do not know who uses them. I bet if they are going to do that then they might give the exchanges to pay taxes for us then the exchange would get the taxes from us.

Taxation, regardless of Bitcoins being involved or not, is pretty much an honor system anyway. You can get away with under-declarations if you're confident the systems in place won't detect any wrong-doings. In this particular case, exchanges are going to be (or already are, in some countries) integrated into that system by monitoring them. That means if you use an exchange, and not declare your Bitcoin income, you could very well be charged for tax-related offenses.

If you only engage in peer-to-peer trading, you're right, they won't know you use it for the most part.
full member
Activity: 504
Merit: 102
May 01, 2018, 11:59:56 AM
#7
Can any government control bitcoin?or add taxes for btc users?

How can they require taxes for those you uses Bitcoin if they do not know who uses them. I bet if they are going to do that then they might give the exchanges to pay taxes for us then the exchange would get the taxes from us.
member
Activity: 364
Merit: 13
May 01, 2018, 11:58:21 AM
#6
Of course, the government  can set a profit tax with crypto currency. But how will this profit be tracked? Thought  many countries already introduce such a tax
Bitcoin can't control the government like anyone else.

Governments can know the profits that users make by forcing exchanges to give the users transaction details when they are converting their cryptocurrencies to fiat.
sr. member
Activity: 518
Merit: 250
May 01, 2018, 11:48:56 AM
#5
Of course, the government  can set a profit tax with crypto currency. But how will this profit be tracked? Thought  many countries already introduce such a tax
Bitcoin can't control the government like anyone else.
full member
Activity: 211
Merit: 100
Santa Coin
May 01, 2018, 11:31:53 AM
#4
They can control the taxation and the laws surrounding it, but they most certainly can't shut it off or deny anybody access by "controlling" the Bitcoin network. Taxes are in for most places that support it, although I would like to see an option to pay in BTC rather than fiat.
member
Activity: 308
Merit: 11
May 01, 2018, 11:29:15 AM
#3
İt depens on what you mean by controlling.To control bitcoin you have to own it.
Other than that, governments can have lots of it if they want to but it looks like that is not happening openly.
We don't know who the whales are, or if they are working for some government really.Maybe they are already controlling it.
legendary
Activity: 3472
Merit: 4801
May 01, 2018, 11:25:28 AM
#2
Can any government control bitcoin?

That depends on what you mean when you say "control bitcoin".

A government can create laws that control what the citizens are legally allowed to do.

or add taxes for btc users?

Many governments already tax bitcoin based income and/or bitcoin based sales.
jr. member
Activity: 119
Merit: 1
Crypto Enthusiast | Graphic Designer
May 01, 2018, 11:22:49 AM
#1
Can any government control bitcoin?or add taxes for btc users?
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