Topic: Did China just legalize Bitcoin, clarify regulation, for its free market use? - page 3. (Read 11160 times)

Dude, Anonymint's Dad is a lawyer.  Get it? :-D

Again checking up on small, medium and large sized business is normal and done by every state. Its called enforcement of tax laws.
Checking up on individuals is possible as well and creates fear. Not many people like to evade tax law due to enormous punishment.

Buying used property and small time services from a individual not a business (that will be controlled by tax man) can be done with cash (more anonymous than bitcoin).

They will prohibit merchants from accepting bitcoin.

Bitcoin is not anonymous.

Converting bitcoins to dollars increases transaction costs enormously.

Again I am making all of these points to show you that bitcoin will never be mainstream. Not even 1% of the economy. Tiny! Get it?

I'm going to make the assumption that you're telling the truth, and that you speak mandarin, can read it, and actually have legal knowledge.

Please "analyze what it legally says", aside from the translations you provided, which state that it should not be treated like a currency, and can not be used as a currency, but rather as a speculation vehicle at their own risk.

Does china also say that their Yuan should not be treated like a currency, that purchases cannot be made with it like currency, and it is a speculation vehicle to be used at their own risk?

Want to take over, big brother? Lead the way!

1) So you think the government will create special divisions for checking the profits people made on btc based on their exchange balance? I find that improbable. And what if someone kept btc in his wallet for years and never converted to fiat? How would you trace him? Don't forget that Ulbricht managed to prosper until he made a mistake of placing his site code on some software forum. Most of the dealers who sold on his site weren't captured. And we are talking about drug dealing and big profits. The system can't even deal with that, how will it deal with Joe sending his son money without reporting it to the higher power?

Everyone I know would prefer to avoid income tax as it is unjust. I also know a lot of people who do not report their side jobs. Look what happened in France when they increased the taxes.

2) Why would I care?

3) You really never used craigslist type sites? So you think someone will knock on your door and ask you if you've been doing gardening plumbing or whatever for John Doe because they saw him leaving you a message on some advert site? Give me a break What about TOR network?

4)They will lose it anyway, you can't print money forever.

Both answers are wrong because china haven't talked about bitcoin but about bitcoin as a currency and bitcoin as a commodity.

Oh crap another thread wasted by somebody trying to argue with AnnoyMint.
ps.
You,  Panda! , out of the way:)

1) Firstly bitcoins are not anonymous (if you want to buy them via an exchange the exchange demands personal information which it will hand out to governments.) Secondly you keep assuming that maybe when bitcoin ever becomes anonymous (how?) it might be used for a fringe purporse instead of cash. Why? Why not use cash to buy household appliances and whores. Again its much more cumbersome to use bitcoin. Also you dont explain how the business selling you household appliances will evade taxes via bitcoin.

Most people will not want to evade taxes.

2) Again if this guy is operating a small/ medium/ larger business he will need to pay taxes. Having customers is a public act; if you buy stuff with profits that are physical this is true also for the software entrepreneur. How do you know what business he is operating and if he is going to report tax?

3) Again why would anybody use bitcoin for fringe small time transaction and not cash? Yes if you buy something from him and he lives in another city. But how will you know about him? Via websites offering products? Public and therefore not anonymous for the person selling these products via the web.

Serious and competent businesses dont evade taxes. Nobody wants to risk jail time.

4) No that would assume governments loosing the money monopoly. You have not addressed my points concerning small, medium and large businesses and tax controls.

Doing my best

Puting people who use btc in jail is not only illogical but also improbable. Prisons are full already  
Governments will have to one day recognize BTC if only enough people vote for it. We have democracy, right?

Sry but I feel like talking to a wall here.

1) Your all knowing tax man knows how much I spent on my household appliances and that I'm having fun with whores every night. He must be a god :O
2) Not excrow but escrow. Try paying someone living in another town with cash - you are planning to mail it to him, right?
3) I said 1% to pick the smallest number so you won't go "why 50%? nobody pays 50% for virtual goods and services". It can be even more but 1 could be enough.
4) They will, it's just a matter of time. There are many possiblilities one of which is BTC functioning along fiat, so you could freely exchange it and pay your taxes with fiat.

If the bold part is your point I can only laugh.

1) Food ? 2) property ? 3) digital printers ? 4) transport ? Or will you just stay in one place in your virtual world 5) wont these companies that reconnect your brain be at least small sized ...

see you are making following points to refute my arguments:

1) No small, medium or large sized businesses (arguing against history and economics)
2) Individuals cant be controlled as mostly (90+%?) software and knowledge not physical assets will be consumed (no way to control what you actually bought to see if tax returns are accurate you say)
3) These software companies wont be number 1) regarding size
4) I will live to see this transition in my lifetime.

Keep trying.

Cash is being eliminated. No more $1000 or 1000 Euro bills. Less and less from Euro ATMs per day, etc..

1) Yes. If you report low taxes but live a good lifestyle the tax man is coming after you.
2) Excrow... ever heard of cash. Thinking that cash is less anonymous than bitcoin is totally off base.
3) why 1%? You give no reason.. if most businesses dont accept it nobody will want your bitcoins
4) It wont become big as large, medium and small businesses wont accept it.

You were doing good but that part of your argument isn't logical.

Amazing the point is right there above.  

I guess you haven't considered direct connection to the brain then all your physical assets seem real but they are not. Even sex.

Or disposable assets that our 3D printers can print at will.

But still that isn't the point. You would need to actually not be stubborn and take time to read and digest.

1) You think there are people driving around the town, entering people's houses and checking what stuff they got inside to tax them? Never heard bout that...
2) Escrow isn't free, data recovery as well, and try to get a good website or house project made for free.
3) 7 billion people doing 1% of their trades in BTC seems significant enough for me
4) They won't put anyone in jail if BTC becomes big. If you can't fight them join them
And as for the power of the internet - the piratebay guys are enjoying their freedom. Somehow your jail and execution talk doesn't scare me.

Summarize the point you fool. Why are there in future

1) not even small / medium businesses (even though economics and history points to large ones)
2) why is energy, food, property, machines, hardware, vacation, transport, entertainment in other localities not a huge part in tomorrows economy. Why is knowledge always software and why are sofware companies one man businesses.

Read the linked thread again. You missed the point.

Food will become such a incredibly small percentage of knowledge workers' expenses, like a grain of sand.


Put some Vaseline in your anus so the coming NWO collective ass fscking won't be too painful.

Sry but your thread is about the fact that in future its about software and knowledge and not capital.

Fact is:

1) We need food 2) We want vacations 3) we need machines and hardware for software 4) we want transportation 5) we want entertainment in different localities 6) we need to produce energy 7)  we buy property

Again I dont see your point. You expecting me to read hours of your babbling is the real problem. Instead of addressing my points you links threads with pages of info that are not directly linked to my questions. I will stop replying as you refuse to anwer my questions but instead link me to mountains of information and expect me to read them. As your vision of a future with no large, medium sized or even small business is very unlikely (judging by economics and history) I dont think I have to emerse myself in such a fringe opinion.

Keep living your dream that you will destroy government via cryptocurrencies. I dont really care.

The linked thread addresses your arguments. It can't be summarized. You are free to try to summarize that thread if you want.

You will not force me to summarize what I said can't be summarized.

Are you going to continue? You are filling up this thread like a broken record repeating the same post over and over again. You've been given the opportunity to air your point, I told you the rebuttal is the linked thread. Done.