Crypto adoption - page 2. | Bitcointalksearch.org

Semaj123

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Quote from: efxtrader on December 05, 2018, 01:43:35 AM

Quote from: FR1DGE on November 21, 2018, 12:48:08 PM

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?

Government can make regulation to collect taxes from bitcoin trading. Every trade we made in market will put taxes by government. I think Ethereum is not a ponzi scheme because its already recognize as digital asset in several country

I definitely agree, about Eth is not a Ponzi scheme because they are already been established and proved to be so much useful especially in ICO's. Furthermore, crypto adoption is getting more interesting because some countries are already using the services and hopefully in the future, we can witnessed a broad and wide adoption.

shinharu10282016

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Quote from: Ezenwanyi on December 05, 2018, 02:15:16 AM

If Cryptocurrency gets generally adopted today, I think government and stakehoders would eventually come up with ways through which tax can be collected.
And also a way to stop the use of Cryptocurrency for scam purposes, pyramids and ponzis.
There is always a way.

There is always a way of course. The government of each countries which holds ICO are almost strict and doesn't want to hinder these projects but would want to protect these investors from the scam, pyramids, and ponzi schemes. Sad that most of these was also used as reasons to scam people.

Ezenwanyi

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If Cryptocurrency gets generally adopted today, I think government and stakehoders would eventually come up with ways through which tax can be collected.
And also a way to stop the use of Cryptocurrency for scam purposes, pyramids and ponzis.
There is always a way.

efxtrader

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Quote from: FR1DGE on November 21, 2018, 12:48:08 PM

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?

Government can make regulation to collect taxes from bitcoin trading. Every trade we made in market will put taxes by government. I think Ethereum is not a ponzi scheme because its already recognize as digital asset in several country

renemagritte

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I think adoption will come with IoT devices (they will run on blockchains) and moneywise, ETF and Bakkt will bring lots of corporate money to crypto world, which may help bitcoin and markets recover.

PlusOne88

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Quote from: FR1DGE on November 21, 2018, 12:48:08 PM

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 am certain that no matter whereyou are in the world or from whatever region you are coming from the government you have will always be watching over cryprocurrency. This is because a huge amount of money involved that could definitely change the economic status of a country. Change for what is better isn't bad. But since it could involve loses then for sure the government ,
Is just watching and will intervene at the right time

Altero

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Quote from: logic123 on December 04, 2018, 03:31:14 AM

crypto adoption is one of the good think and we can make good passive income from the crypto in short time and many people are already investing and making profit from it.

Don't just think for easy money in here nor you just earned big amounts. Do hardworks still important and also how to market your investment. Many are losing because they can't adjust on how the market works and they don't have a plan for the incoming.

Bonsaiav

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Quote from: FR1DGE on November 21, 2018, 12:48:08 PM

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.

Quote from: FR1DGE on November 21, 2018, 12:48:08 PM

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.

logic123

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crypto adoption is one of the good think and we can make good passive income from the crypto in short time and many people are already investing and making profit from it.

batang_bitcoin

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Then they would collect taxes through crypto, simple as that.

By that time when massive adoption comes which is happening currently, you'll see news like this.

Op-Ed: Ohio’s Crypto Play Proves Bitcoin is Becoming a Currency

This Week in Crypto: Ohio Embraces Bitcoin

Ohio first state to allow taxes to be paid with bitcoin

patarfweefwee

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I think that isnwhy we need regulations placed in crypto currency so that it would protect both the people who have crypto currency and the ones that transact in crypto currency. I just hope taxation would be less that it would be fair for both crypto currency holders and the government so that both would benefit from crypto currency.

UchihaRukawa

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Quote from: FR1DGE on November 21, 2018, 12:48:08 PM

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?

For now, I would like to think that cryptocurrency adaptation is a sure thing that would happen, but what happened mid this year would definitely affect this adaptation greatly in a very negative way. Many people went bankrupted because of that great fall, and I think it would take time before the whole cryptocommunity could recover from such loss.

Arsedunn

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Quote from: FR1DGE on November 21, 2018, 12:48:08 PM

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?

It’s not just about being adopted, it’s already adopted by a lot of people, the main problem is that the price is volatile and no one is ready to use a thing as volatile as Bitcoin. If it becomes stable, I believe that a lot of people would start to make use of cryptocurrency for making transactions. But whatever, everything will be the way they are meant to be, and that’s it.

n0ne

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Crypto adoption around the world keeps increasing as the implementation of blockchain technology around different functional areas keeps on advancing. Several countries have come up with plans of regulating and allowing cryptocurrency usage within the country in a legalized manner.

Barbut

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Quote from: Yamifoud on December 02, 2018, 06:48:13 AM

Quote from: andika2018 on December 02, 2018, 04:38:08 AM

I am believe if government regulate cryptocurrency for payment beside fiat money, government must be preparing regulation on crypto taxes. Maybe government make regulation that we should report our digital asset. Beside that, for government there is many ways to collect taxes from local exchanger.

Taxes for crypto holders are already started in some countries as the government have supported this kind of currency. It could possibly happen into others also as their government imposing such policies.
Crypto adoption is somewhat no fully engaged nor all areas are known into these. I may think that only 1-2% having involve in here, mostly people who are high risk takers.

What yesterday was impossible to happen is discussed today in G20. They discussed about bitcoin and crypto holders, but they postponed final law about it until 2020, before they investigate it a bit more. I`m not a fan of governments or banks, but they are talking about it more and more and thats a good sign that adoption is going in good direction. In my surrounding many people still dont accept idea about crypto, now they hear a lot more about bitcoin than before, but still they are not open minded about it, but that will change, first step is almost completed, everyone to know about it, later will be everyone to use it.

Yamifoud

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Quote from: andika2018 on December 02, 2018, 04:38:08 AM

I am believe if government regulate cryptocurrency for payment beside fiat money, government must be preparing regulation on crypto taxes. Maybe government make regulation that we should report our digital asset. Beside that, for government there is many ways to collect taxes from local exchanger.

Taxes for crypto holders are already started in some countries as the government have supported this kind of currency. It could possibly happen into others also as their government imposing such policies.
Crypto adoption is somewhat no fully engaged nor all areas are known into these. I may think that only 1-2% having involve in here, mostly people who are high risk takers.

paparexon0414

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Quote from: FR1DGE on November 21, 2018, 12:48:08 PM

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?

This probably why government still not implementing the usage of cryptos. This is one factor they are considering, that is why most of the countries still not open of having cryptos as their main way to use in payment physical or online. The process will take a lot of studies and debates just to pursue the crypto payment. Also, the security of it is also in question. Most of the hackers will also find ways just to take the advantage of getting the access of our wallets. So many answered in this topic, so i hope somehow enlighthen us.

andika2018

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I am believe if government regulate cryptocurrency for payment beside fiat money, government must be preparing regulation on crypto taxes. Maybe government make regulation that we should report our digital asset. Beside that, for government there is many ways to collect taxes from local exchanger.

vamshi789

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it is good to adopt the crypto babies so, the government is not give the permission because it is decentralization.

cahbagus555

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Quote from: FR1DGE on November 21, 2018, 12:48:08 PM

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?

Government still earn taxes from VAT in every goods we buying. Government can stop ponzi with regulation and thats why government should regulate cryptocurrency market because many scam ICOs.

Topic: Crypto adoption - page 2. (Read 1402 times)