This regulation even it’s either the transaction is bitcoin to fiat or vice versa, the government will implement a counter bill to or amend the existing one to cater that idea your thinking of. Government is not just focusing on what is trend but on where is the money that circulating for the taxes. We can’t blame them because a country needs taxation to work and function.
This regulation if this is for the goodness of the people and the country, I think the bitcoin community will support it.
Topic: Could we invalidate all regulations? - page 2. (Read 3229 times)
I was thinking for a while, and realised that most government regulations are imposed when a person exchanges BTC -> fiat. I'm sure you all know this.
If we convinced local grocery stores to accept BTC, wouldn't that mean we could very well live in a society where we don't need to exchange to fiat?
If you can buy the necessities of life with Bitcoin, then why would you need fiat? There's websites that sell anything you can think of for Bitcoin.
Just food for though, I'd like to see what everyone's opinion is.
And sorry if this has been discussed many times before, I'm just curious.
DISCUSS!
If we convinced local grocery stores to accept BTC, wouldn't that mean we could very well live in a society where we don't need to exchange to fiat?
If you can buy the necessities of life with Bitcoin, then why would you need fiat? There's websites that sell anything you can think of for Bitcoin.
Just food for though, I'd like to see what everyone's opinion is.
And sorry if this has been discussed many times before, I'm just curious.
DISCUSS!
Fiat is the most convenient way to buy things and pay services in which some of establishments mostly small player wont need the power of computer or digital technology but some how your point is an advantage to the digital transaction in which the most safest way than bringing actual money that it might be lost or steal, but this cannot be exempt in goverment regulations as they will just make an policy to urge establishments to list down the names of their clients with the transaction codes and ask to pay value added tax of using the bitcoin as form of payment therefore bitcoin regulations could be anywhere as long your transaction is digital.
I think it'll be really hard to get everyone on board to be honest. Small and big companies will be slow to it.
I was thinking for a while, and realized that most government regulations are imposed when a person exchanges BTC -> fiat. I'm sure you all know this. If we convinced local grocery stores to accept BTC, wouldn't that mean we could very well live in a society where we don't need to exchange to fiat? If you can buy the necessities of life with Bitcoin, then why would you need fiat? There's websites that sell anything you can think of for Bitcoin. Just food for though, I'd like to see what everyone's opinion is. And sorry if this has been discussed many times before, I'm just curious. DISCUSS!
The time for Bitcoin to act really as a currency (where people are buying/selling goods/services using Bitcoin directly) and not just mostly as the store of value (compared to the real gold) is coming. We are then hoping that Amazon would one day be a part of the Bitcoin bandwagon so real eCommerce for cryptocurrency can begin its real initial stage.
Now, can we avoid taxes when we use Bitcoin directly? Yes, that is possible but the government (especially the revenue collecting agents) and soon they will come up with a system where sales tax can be implemented and online retailers and wholesales into Bitcoin have to follow the system or risk an entanglement with the government.
Rather than toying with the idea of avoiding taxes, we have to pay them but in return demand from the government for a better treatment of Bitcoin and providing a clearer platform for cryptocurrency.
Remember: together with death, tax is something so hard to avoid; you can avoid it but eventually the long arms of the government can compel you to chip in your share.
I was thinking for a while, and realized that most government regulations are imposed when a person exchanges BTC -> fiat. I'm sure you all know this. If we convinced local grocery stores to accept BTC, wouldn't that mean we could very well live in a society where we don't need to exchange to fiat? If you can buy the necessities of life with Bitcoin, then why would you need fiat? There's websites that sell anything you can think of for Bitcoin. Just food for though, I'd like to see what everyone's opinion is. And sorry if this has been discussed many times before, I'm just curious. DISCUSS!
The time for Bitcoin to act really as a currency (where people are buying/selling goods/services using Bitcoin directly) and not just mostly as the store of value (compared to the real gold) is coming. We are then hoping that Amazon would one day be a part of the Bitcoin bandwagon so real eCommerce for cryptocurrency can begin its real initial stage.
Now, can we avoid taxes when we use Bitcoin directly? Yes, that is possible but the government (especially the revenue collecting agents) and soon they will come up with a system where sales tax can be implemented and online retailers and wholesales into Bitcoin have to follow the system or risk an entanglement with the government.
Rather than toying with the idea of avoiding taxes, we have to pay them but in return demand from the government for a better treatment of Bitcoin and providing a clearer platform for cryptocurrency.
Remember: together with death, tax is something so hard to avoid; you can avoid it but eventually the long arms of the government can compel you to chip in your share.
I was thinking for a while, and realised that most government regulations are imposed when a person exchanges BTC -> fiat. I'm sure you all know this.
If we convinced local grocery stores to accept BTC, wouldn't that mean we could very well live in a society where we don't need to exchange to fiat?
If you can buy the necessities of life with Bitcoin, then why would you need fiat? There's websites that sell anything you can think of for Bitcoin.
Just food for though, I'd like to see what everyone's opinion is.
And sorry if this has been discussed many times before, I'm just curious.
DISCUSS!
If we convinced local grocery stores to accept BTC, wouldn't that mean we could very well live in a society where we don't need to exchange to fiat?
If you can buy the necessities of life with Bitcoin, then why would you need fiat? There's websites that sell anything you can think of for Bitcoin.
Just food for though, I'd like to see what everyone's opinion is.
And sorry if this has been discussed many times before, I'm just curious.
DISCUSS!
Fiat is the most convenient way to buy things and pay services in which some of establishments mostly small player wont need the power of computer or digital technology but some how your point is an advantage to the digital transaction in which the most safest way than bringing actual money that it might be lost or steal, but this cannot be exempt in goverment regulations as they will just make an policy to urge establishments to list down the names of their clients with the transaction codes and ask to pay value added tax of using the bitcoin as form of payment therefore bitcoin regulations could be anywhere as long your transaction is digital.
sr. member
Activity: 378
Merit: 278
Bitcoin :open immutable decentralized global fair
Regulations can only come in picture when Bitcoin is converted to fiat. Government can never regulate something on internet entirely. Even if they do, they won't be successful and yeah by spending Bitcoin online won't bring you under any regulation. That is why the community wants a worldwide adoption of Bitcoin by merchants and vendors for better Bitcoin utility. This will keep governments at bay. And converting Bitcoin to fiat for its usage kills the overall purpose of Bitcoin as a currency. So far Bitcoin hasn't succeeded as currency and that is why governments are able to regulate to good extent. This trend will surely gonna change in coming years.
Are you sure the community wants this? Decentralization creates lack of an overall strategy. Each pursues its own interests and as a result everyone loses. The miners want to have more profit therefore not profitable to do smaller transactions. How it contributes to the development of trade? Users who use bitcoin for speculation and don't want to spend coins in shops even where there is such a possibility.Good for you that there is hundreds, thousands of OTHER cryptos that aren't as decentralized as Bitcoin where a center point can be steered for your overall community strategy. Go ahead. =)
Regulations can only come in picture when Bitcoin is converted to fiat. Government can never regulate something on internet entirely. Even if they do, they won't be successful and yeah by spending Bitcoin online won't bring you under any regulation. That is why the community wants a worldwide adoption of Bitcoin by merchants and vendors for better Bitcoin utility. This will keep governments at bay. And converting Bitcoin to fiat for its usage kills the overall purpose of Bitcoin as a currency. So far Bitcoin hasn't succeeded as currency and that is why governments are able to regulate to good extent. This trend will surely gonna change in coming years.
Are you sure the community wants this? Decentralization creates lack of an overall strategy. Each pursues its own interests and as a result everyone loses. The miners want to have more profit therefore not profitable to do smaller transactions. How it contributes to the development of trade? Users who use bitcoin for speculation and don't want to spend coins in shops even where there is such a possibility.
Saw this article and it's very relatable to everything decentralized: https://www.cnbc.com/2017/10/05/how-icos-setting-the-vc-world-ablaze-work.html
Thoughts?
Thoughts?
Regulations can only come in picture when Bitcoin is converted to fiat. Government can never regulate something on internet entirely. Even if they do, they won't be successful and yeah by spending Bitcoin online won't bring you under any regulation. That is why the community wants a worldwide adoption of Bitcoin by merchants and vendors for better Bitcoin utility. This will keep governments at bay. And converting Bitcoin to fiat for its usage kills the overall purpose of Bitcoin as a currency. So far Bitcoin hasn't succeeded as currency and that is why governments are able to regulate to good extent. This trend will surely gonna change in coming years.
I was thinking for a while, and realised that most government regulations are imposed when a person exchanges BTC -> fiat. I'm sure you all know this.
If we convinced local grocery stores to accept BTC, wouldn't that mean we could very well live in a society where we don't need to exchange to fiat?
If you can buy the necessities of life with Bitcoin, then why would you need fiat? There's websites that sell anything you can think of for Bitcoin.
Just food for though, I'd like to see what everyone's opinion is.
And sorry if this has been discussed many times before, I'm just curious.
DISCUSS!
If we convinced local grocery stores to accept BTC, wouldn't that mean we could very well live in a society where we don't need to exchange to fiat?
If you can buy the necessities of life with Bitcoin, then why would you need fiat? There's websites that sell anything you can think of for Bitcoin.
Just food for though, I'd like to see what everyone's opinion is.
And sorry if this has been discussed many times before, I'm just curious.
DISCUSS!
Yeah, I've actually been thinking about this a while back. They can't realistically tax every single transaction, so they would have to go after exchanges. In the current state of things, you have to go to exchanges because very few merchants currently accept Bitcoins. If everyone starts to accept Bitcoins, then it's true we won't have to go to exchanges and we can evade the regulations applied there.
However, these stores have to be registered to the government, so some regulations apply to them as well. They would have to, and are expected to pay taxes, so they might just include that in the Bitcoin price for remittal. That's what they do with fiat currently right?
sr. member
Activity: 378
Merit: 278
Bitcoin :open immutable decentralized global fair
"Sometimes it is said that man cannot be trusted with the government of himself. Can he, then, be trusted with the government of others? Or have we found angels in the form of kings to govern him? Let history answer this question." --Thomas Jefferson: 1st Inaugural, 1801. ME 3:320
And it has been answered unequivocally; we've had the exact opposite of angels and countless innocents have been killed by and due to governments, even in the U.S.
And it has been answered unequivocally; we've had the exact opposite of angels and countless innocents have been killed by and due to governments, even in the U.S.
More people should read this. Great wisdom.
"Sometimes it is said that man cannot be trusted with the government of himself. Can he, then, be trusted with the government of others? Or have we found angels in the form of kings to govern him? Let history answer this question." --Thomas Jefferson: 1st Inaugural, 1801. ME 3:320
And it has been answered unequivocally; we've had the exact opposite of angels and countless innocents have been killed by and due to governments, even in the U.S.
And it has been answered unequivocally; we've had the exact opposite of angels and countless innocents have been killed by and due to governments, even in the U.S.
Regulation in many areas of public and private life are essential because we as humans are unable to succeed in agreeing what is best. Therefore we band together and decide as collectives what is best for most. Regulations on food, pollution, building standards, you name it. Common currencies need regulations as well and even though BTC is not determined to be a common fiat currency by our government that does not mean that it should not be regulated. Personal property is regulated, stocks, housing, firearms, exotic pets, etc.
I am proud to participate in my society and be a part of the collective and pay my fair share to support reasonable, just and needed regulations in our lives. To support schools, roads, military, government, and all of the things that go into a healthy and functioning society.
Yes, BTC and alt coins will eventually be more regulated. And? That is reasonable and necessary. It is not happening quickly, there is no panic, but we are not a utopian society, yet.
George D. Greenberg, Esq.
www.attorneybitcoin.com
I am proud to participate in my society and be a part of the collective and pay my fair share to support reasonable, just and needed regulations in our lives. To support schools, roads, military, government, and all of the things that go into a healthy and functioning society.
Yes, BTC and alt coins will eventually be more regulated. And? That is reasonable and necessary. It is not happening quickly, there is no panic, but we are not a utopian society, yet.
George D. Greenberg, Esq.
www.attorneybitcoin.com
At the end of the day, the sole reason for regulation on BTC is tax revenues. The gov't wants its piece of the pie from exchanges who facilitate trading, from the individuals who are selling...basically anywhere they can squeeze extra money.
Ultimately they could care less if a grown adult loses all their money, just as long as they get their cut first.
Ultimately they could care less if a grown adult loses all their money, just as long as they get their cut first.
That's the ultimate goal with bitcoin, using it, even for paying taxes. 
Well, it was, anyway until all the "Let's REGULATE Bitcoin" peole broke out of their cages.
If this gets even close, the gov will start to seize the bitcoins nodes and punish whoever is found using or holding bitcoin, like its doin with drugs.. They won't give up power without fight.
freedom never comes for free.
but some people really understimate the costs.
If this gets even close, the gov will start to seize the bitcoins nodes and punish whoever is found using or holding bitcoin, like its doin with drugs.. They won't give up power without fight.
freedom never comes for free.
If this gets even close, the gov will start to seize the bitcoins nodes and punish whoever is found using or holding bitcoin, like its doin with drugs.. They won't give up power without fight.
The best way to invalidate regulations with anything would first be to educate the people on jury nullification, it is a way that "We the People" can tell our elected servants that we will not comply with there drivel. 
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