If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?
Though government must do action to keep the people safe,but it is our obligation to stay away from this scammers and ponzis and pyramiding.because aside from everyone,we must be responsible for our money because rhis is our hard earned.so stop putting the blame in government if. We become a victim because more than anything it is our fault 
Topic: Crypto adoption (Read 1342 times)
If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?
That's the reason why the government won't allow a decentralized cryptocurrency to take over fiat because they wouldn't be able to control it. Unlike what is happening with fiat wherein they can control and trace the people behind the transactions, in cryptocurrency, only the addresses are easily traceable but not the people behind it. Government would think ways to still control it like creating their own cryptocurrency perhaps.
This is true, government needs to find ways to receive tax revenue if fiat money is to be discontinued
If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?
There is no government who can stop PONZI, scam and pyramids.
It is on the people's hand, they know that the world is not safe though they are seeking for it.
They are being blind by big promises and fast money back. which is not good for them.
Even with out Cryptocurrency it is a big problem of the world and it will always to the people if they want to be one of the victims.
If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?
I guess the dream of everyone already into crypto stuffs for them to be able to use crypto like the way they will spend their pounds, dollars, yuan, etc. But in practice, there are no such markets yet, or maybe just a few in some selected regions. Adoption is still an ongoing process. Nobody said we're ready for mass adoption yet. The points you raised are all valid and there are still a lot to be done on crypto for it to be more usable.
I'm not sure how it works but Ohio currently accepts BTC for taxes so I see a system where the govenment would just accept BTC for taxes. Capital gains in relation to taxes is a different kettle of fish.
Although cryptocurrency adoption might seem like only a matter of time to enthusiasts, that’s far from the reality to those outside the space. This is why every sign of cryptocurrency creeping into our daily lives is another step towards familiarization and adoption - and this is why the cryptoverse celebrate such signs.
Creating an awareness under the people is not an easy task because people are really feel unsecured when they invest money into instrument if instrument is not centralized because there are high probability of being fraud in the crypto market that's why not many people want to take risk.
One more thing to create interest in the people we should have to make example so people get attracted towards crypto. Like in last year December when price of bitcoin was about 19000 USD people found btc interesting and most of people joined at that time but now bitcoin is at stage where people lost their faith in BTC.
One more thing to create interest in the people we should have to make example so people get attracted towards crypto. Like in last year December when price of bitcoin was about 19000 USD people found btc interesting and most of people joined at that time but now bitcoin is at stage where people lost their faith in BTC.
I believe those who lost faith in btc don't really know the potential of crypto in our everyday lives. Right now, more and more businesses are integrating the blockchain within their operations so we are in the mass adoption stage already. Btc will recover as the demand increases.
If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?
I guess the dream of everyone already into crypto stuffs for them to be able to use crypto like the way they will spend their pounds, dollars, yuan, etc. But in practice, there are no such markets yet, or maybe just a few in some selected regions. 
Creating an awareness under the people is not an easy task because people are really feel unsecured when they invest money into instrument if instrument is not centralized because there are high probability of being fraud in the crypto market that's why not many people want to take risk.
One more thing to create interest in the people we should have to make example so people get attracted towards crypto. Like in last year December when price of bitcoin was about 19000 USD people found btc interesting and most of people joined at that time but now bitcoin is at stage where people lost their faith in BTC.
One more thing to create interest in the people we should have to make example so people get attracted towards crypto. Like in last year December when price of bitcoin was about 19000 USD people found btc interesting and most of people joined at that time but now bitcoin is at stage where people lost their faith in BTC.
If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?
They will seek to develop software to manage the crypto market. As you see, the crypto market contains a lot of people from different countries. A government will not be able to manage it all. They need to re-union to have the best solution. If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?
If government regulate crypto for paying goods in merchant, i am believe government already thinking about this. When we buying goods in merchant, the price already attached with taxes. Beside that, I am believe government will monitor exchanger to collect taxes from our trade or our profits
If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?
I agree with you that there will be less and less reasons for cashing out into fiat, especially within next bull market which should give more adoption than last one. I think that government should educate peoples through educating system, to educate people how to avoid scams.
I failed to add some points, even if the customers are using cryptocurrencies to pay their expenses I doubt that merchants can escape form not using Fiat currency as there tool, for one fiat currency is the one being used to pay their employees as it is in there law and the last thing is in order for these merchants to pay taxes they always need to convert their earnings to the fiat currency equivalent, holding it for long even after converting would only endanger their crypto holding for losing value.
If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?
Most of these questions you asked are some of the things that are in our minds and that is why is taking governments time before there could regulate it. Cryptocurrencies and blockchain technology created mush room for scammers to come into the market and many investors keep losing money day by day and governments are the only one that has power to stop that. 
adoption through many merchants all around the world will give new light to crypto world.
There are so many reason why BTC And ALTS will climb up again and this is one of those.
ETF also is a must and regulation must be on the side of cryptocurrence then new ATH will come!
There are so many reason why BTC And ALTS will climb up again and this is one of those.
ETF also is a must and regulation must be on the side of cryptocurrence then new ATH will come!
The government have their own problem even before bitcoin came in the world. It just happened that the people choose bitcoin and support the digital currency and now we can see the result. The massive improvement and continues progress is still present at this time. The adoption of crypto could help the country in general but it must be strictly tackle in order to produce good relation from community and society.
If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?
I think that is the issue that government wants to gave a solution because they are looking forward on the use of cryptocurrency, in fact here in my country cryptocurrency has gain popularity, there has a tv series that has a scene of giving a payment and the person wants to be paid by cryptocurrency meaning people are aware of crypto and they are waiting for the right time to use it.
Do you guys think that since this american stock markets are getting into ETF and basically making bitcoin more and more legit every single day would help the shop owners or stores to start accepting as well ?
I mean there was a lot of talks about steam getting bitcoin and there was Microsoft and all that (we still have Expedia I think) and maybe if the stock markets have bitcoin in it there will be more like that ? I mean I really hope to see bitcoin to be at least accepted as an online payment option on all big places, apple accepting bitcoin for your online shopping would be a great start and amazon as well, that type of stuff would really make bitcoin get heard a lot, more than the price increase we all need a place to spend bitcoin in order to make it actually worth something.
I mean there was a lot of talks about steam getting bitcoin and there was Microsoft and all that (we still have Expedia I think) and maybe if the stock markets have bitcoin in it there will be more like that ? I mean I really hope to see bitcoin to be at least accepted as an online payment option on all big places, apple accepting bitcoin for your online shopping would be a great start and amazon as well, that type of stuff would really make bitcoin get heard a lot, more than the price increase we all need a place to spend bitcoin in order to make it actually worth something.
If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then?
It's easy for the government to collect taxes from crypto owners. With the prerogatives they have, it's easy for them to force each exchange account to look for detailed data from each user.
Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?
Maybe the government will work with service providers, such as Google, Opera, and several other social networks, to banish and hold sudden inspections of suspicious sites, even to close them if they are indicated to harm crypto users.
If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?
The cryptocurrency community is continuing to grow, it seems that people are now adopting cryptocurrencies. Governments are now also legalizing cryptocurrencies because of its function and its potential. Jump to: