Government & Bitcoin - page 63. | Bitcointalksearch.org

HarHarHar9965

hero member

Activity: 994

Merit: 1000

Quote from: greBit on August 01, 2015, 01:42:35 AM

Quote from: misterycoins on July 31, 2015, 07:40:50 PM

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

There are already a few governments which have acted against bitcoin, and how do you think has that helped bitcoin? It is thrown around in the media negatively, residents of a country are thereby even restricted to use it because it is banned in their country now. Also, bitcoins doesn't have such a strong backing by a lot of people that the whole internet will be fighting for them. I don't think the internet or the people care about bitcoin as much as you believe they do.

The legal status of bitcoin is different from one country to another because these rules are changing/being created slowly. While some countries have explicitly allowed its use and trade, others have banned or severely restricted it. Even different governments have classified bitcoins differently, some realize its power and embrace it while some are scared of it. Bangladesh, Bolivia, Ecuador, Russia, Vietnam are some places where it is termed illegal.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: misterycoins on July 31, 2015, 07:40:50 PM

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

i doubt every governments will ever work together, so this scenario is very unlikely, you will always have at least one government that will not do anything against bitcoin, many have already embraced it, so why, suddenly, they should go against bitcoin without any reason? no-sense....

greBit

hero member

Activity: 714

Merit: 500

Quote from: misterycoins on July 31, 2015, 07:40:50 PM

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

There are already a few governments which have acted against bitcoin, and how do you think has that helped bitcoin? It is thrown around in the media negatively, residents of a country are thereby even restricted to use it because it is banned in their country now. Also, bitcoins doesn't have such a strong backing by a lot of people that the whole internet will be fighting for them. I don't think the internet or the people care about bitcoin as much as you believe they do.

roadbits

legendary

Activity: 1092

Merit: 1000

Bitcoin will be fought against here and there, but ultimately it will be harnessed and used as a tool to increase the power of those already in powerful positions.

misterycoins

sr. member

Activity: 249

Merit: 250

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

knowhow

hero member

Activity: 560

Merit: 500

The countries will create a model to remove a fee of the card companies transactions and sending remittances, banks of course are already worried about their future, if there is a way to monetize our money without interference and dependence of third parties ... have to adapt to the new market, for whom depends on the rate have to if adjustar to avoid bankruptcy.

ajun96

hero member

Activity: 658

Merit: 500

Quote from: HarHarHar9965 on July 31, 2015, 02:58:57 PM

Quote from: botany on July 31, 2015, 01:12:45 PM

Quote from: ajun96 on July 31, 2015, 06:05:29 AM

Bank Indonesia (BI) expressly states or bitcoin digital currency and virtual currency is not the currency or legal tender in Indonesia. BI director of the Department of Communications, Peter Jacobs urged people to be careful of virtual currency Bitcoin and others. "All the risks related to the ownership or use of Bitcoin borne by the owner or user of the virtual currency Bitcoin and others

As long as they don't expressly outlaw the use of Bitcoin, we are good.
I doubt if anybody will ever come out and say that Bitcoin can be used as legal tender.

The only time bitcoin has a threat from a particular country is that their country officials feel uncertain and not comfortable with bitcoin, and go ahead and ban it in their country. The reason they ban it is quite clear, they pretend to protect their people from bitcoin but actually fear the power of bitcoin. If bitcoin is not banned in a country, it is much more easier and beneficial to improve adoption percentage in that country.

In my country indonesia there is no prohibition to use bitcoin as a means of payment, they only tell so careful to bitcoin, whereas if bitcoin legalized, this will increase the country's foreign exchange earnings

HarHarHar9965

hero member

Activity: 994

Merit: 1000

Quote from: botany on July 31, 2015, 01:12:45 PM

Quote from: ajun96 on July 31, 2015, 06:05:29 AM

Bank Indonesia (BI) expressly states or bitcoin digital currency and virtual currency is not the currency or legal tender in Indonesia. BI director of the Department of Communications, Peter Jacobs urged people to be careful of virtual currency Bitcoin and others. "All the risks related to the ownership or use of Bitcoin borne by the owner or user of the virtual currency Bitcoin and others

As long as they don't expressly outlaw the use of Bitcoin, we are good.
I doubt if anybody will ever come out and say that Bitcoin can be used as legal tender.

The only time bitcoin has a threat from a particular country is that their country officials feel uncertain and not comfortable with bitcoin, and go ahead and ban it in their country. The reason they ban it is quite clear, they pretend to protect their people from bitcoin but actually fear the power of bitcoin. If bitcoin is not banned in a country, it is much more easier and beneficial to improve adoption percentage in that country.

botany

legendary

Activity: 1582

Merit: 1064

Quote from: ajun96 on July 31, 2015, 06:05:29 AM

Bank Indonesia (BI) expressly states or bitcoin digital currency and virtual currency is not the currency or legal tender in Indonesia. BI director of the Department of Communications, Peter Jacobs urged people to be careful of virtual currency Bitcoin and others. "All the risks related to the ownership or use of Bitcoin borne by the owner or user of the virtual currency Bitcoin and others

As long as they don't expressly outlaw the use of Bitcoin, we are good.
I doubt if anybody will ever come out and say that Bitcoin can be used as legal tender.

ajun96

hero member

Activity: 658

Merit: 500

Bank Indonesia (BI) expressly states or bitcoin digital currency and virtual currency is not the currency or legal tender in Indonesia. BI director of the Department of Communications, Peter Jacobs urged people to be careful of virtual currency Bitcoin and others. "All the risks related to the ownership or use of Bitcoin borne by the owner or user of the virtual currency Bitcoin and others

Dotakels

sr. member

Activity: 490

Merit: 255

Quote from: wearepoor on July 29, 2015, 07:22:12 PM

Quote from: Dotakels on July 23, 2015, 11:33:39 AM

Quote from: Amph on July 23, 2015, 02:58:50 AM

Quote from: Anirban Sarkar on June 22, 2015, 08:43:15 AM

hmm....in this growing world bitcoin would be uses to pay taxes.. Huh

?

most likely it will be taxed to death if governments start to accept it(in the sense to regulate it) more like IRS is doing in the USA

we are lucky that there is not one governments only in this world, at elast we are not 100% centralized, so one can go abroad to trade his bitcoin, where there is no restrictions

They have a news that bitcoin is dead, maybe the answer to their question is , if the government put a tax on every single transaction of bitcoin, because more users will be outweigh if one of the government that already accept bitcoin put a tax in bitcoin.

If bitcoin gets legal in country, then government would surely impose a tax on it, as it would be a source of income for them, so if they come in support of bitcoin, then they would definitely collect taxes from the citizens and it would not be a profitable for the users of bitcoins.

yes and the tax is depend on your daily earnings or in monthly earning and many users will affect if they put regulations or tax about bitcoin. Like here in philippines they studying the laws or the regulations that they can put on bitcoin.

wearepoor

hero member

Activity: 784

Merit: 500

Quote from: Dotakels on July 23, 2015, 11:33:39 AM

Quote from: Amph on July 23, 2015, 02:58:50 AM

Quote from: Anirban Sarkar on June 22, 2015, 08:43:15 AM

hmm....in this growing world bitcoin would be uses to pay taxes.. Huh

?

most likely it will be taxed to death if governments start to accept it(in the sense to regulate it) more like IRS is doing in the USA

we are lucky that there is not one governments only in this world, at elast we are not 100% centralized, so one can go abroad to trade his bitcoin, where there is no restrictions

They have a news that bitcoin is dead, maybe the answer to their question is , if the government put a tax on every single transaction of bitcoin, because more users will be outweigh if one of the government that already accept bitcoin put a tax in bitcoin.

If bitcoin gets legal in country, then government would surely impose a tax on it, as it would be a source of income for them, so if they come in support of bitcoin, then they would definitely collect taxes from the citizens and it would not be a profitable for the users of bitcoins.

freeyourmind

sr. member

Activity: 364

Merit: 252

Quote from: Amph on July 23, 2015, 02:58:50 AM

Quote from: Anirban Sarkar on June 22, 2015, 08:43:15 AM

hmm....in this growing world bitcoin would be uses to pay taxes.. Huh

?

most likely it will be taxed to death if governments start to accept it(in the sense to regulate it) more like IRS is doing in the USA

we are lucky that there is not one governments only in this world, at elast we are not 100% centralized, so one can go abroad to trade his bitcoin, where there is no restrictions

It will be very difficult to tax transactions. If bitcoin is to be treated as a currency, then it would be up to the individual to report income or for a business to report a sale and file it in their taxes. Pretty much the same way it's recorded and filed with fiat. For bitcoin to be legitimized, it would need to have the same tax implications as fiat.

A problem would be if it's not treated as a currency and capital gains need to be paid on price appreciation of bitcoin.

BillyBobZorton

legendary

Activity: 1204

Merit: 1028

Quote from: Dotakels on July 29, 2015, 11:46:30 AM

Quote from: roadbits on July 28, 2015, 12:24:54 PM

Quote from: wearepoor on July 23, 2015, 12:01:18 PM

Quote from: bitcollins85 on July 23, 2015, 11:47:24 AM

in the long run I'm more worried about unforeseen technical problems than I am with government actions.

Government will never support bitcoin, not atleast in my country, and basically the thing is the government in my country is not worried about the bitcoin as very less people are aware about the bitcoins, so it would take a long when there would create any issue in my country related to bitcoin and government.

Nobody can say for sure at this point, but my best guess is that we'll wind up with regulation of some form but not an outright ban.

yeah not totally banned but they can have a regulations that bitcoin should used in important things, like investing in company and not just like buying softdrinks or food in convenience store something like that.

They can't ban, as demonstrated in Russia, it started with a ban, now Putin is backpeddling. They will try to put a million regulations on it, but there will always be workarounds, that's what happens when money becomes programmable and open source. At this point they'll have to let things develop and work being positive about it and not against it.

Dotakels

sr. member

Activity: 490

Merit: 255

Quote from: roadbits on July 28, 2015, 12:24:54 PM

Quote from: wearepoor on July 23, 2015, 12:01:18 PM

Quote from: bitcollins85 on July 23, 2015, 11:47:24 AM

in the long run I'm more worried about unforeseen technical problems than I am with government actions.

Government will never support bitcoin, not atleast in my country, and basically the thing is the government in my country is not worried about the bitcoin as very less people are aware about the bitcoins, so it would take a long when there would create any issue in my country related to bitcoin and government.

Nobody can say for sure at this point, but my best guess is that we'll wind up with regulation of some form but not an outright ban.

yeah not totally banned but they can have a regulations that bitcoin should used in important things, like investing in company and not just like buying softdrinks or food in convenience store something like that.

roadbits

legendary

Activity: 1092

Merit: 1000

Quote from: wearepoor on July 23, 2015, 12:01:18 PM

Quote from: bitcollins85 on July 23, 2015, 11:47:24 AM

in the long run I'm more worried about unforeseen technical problems than I am with government actions.

Government will never support bitcoin, not atleast in my country, and basically the thing is the government in my country is not worried about the bitcoin as very less people are aware about the bitcoins, so it would take a long when there would create any issue in my country related to bitcoin and government.

Nobody can say for sure at this point, but my best guess is that we'll wind up with regulation of some form but not an outright ban.

Erdogan

legendary

Activity: 1512

Merit: 1005

Quote from: Dotakels on July 24, 2015, 11:56:45 AM

Quote from: wearepoor on July 23, 2015, 12:01:18 PM

Quote from: bitcollins85 on July 23, 2015, 11:47:24 AM

in the long run I'm more worried about unforeseen technical problems than I am with government actions.

Government will never support bitcoin, not atleast in my country, and basically the thing is the government in my country is not worried about the bitcoin as very less people are aware about the bitcoins, so it would take a long when there would create any issue in my country related to bitcoin and government.

Many government are afraid on what bitcoin can do with their own currency, maybe banks can be outweigh by bitcoin because if their government support bitcoin and people more likely to used bitcoins, no more people will used banks or other company thats involves money.

They are afraid, bitcoin or not, because the current global fiat regime counts its last days. I hope they can drag it along a bit, using delay and pray tactics, so bitcoin could grow a bit stronger first. But it does not seem so, it seems the fiat system is on its way down the abyss. It seems that it has already started.

Dotakels

sr. member

Activity: 490

Merit: 255

Quote from: wearepoor on July 23, 2015, 12:01:18 PM

Quote from: bitcollins85 on July 23, 2015, 11:47:24 AM

in the long run I'm more worried about unforeseen technical problems than I am with government actions.

Government will never support bitcoin, not atleast in my country, and basically the thing is the government in my country is not worried about the bitcoin as very less people are aware about the bitcoins, so it would take a long when there would create any issue in my country related to bitcoin and government.

Many government are afraid on what bitcoin can do with their own currency, maybe banks can be outweigh by bitcoin because if their government support bitcoin and people more likely to used bitcoins, no more people will used banks or other company thats involves money.

foxbitcoin

sr. member

Activity: 593

Merit: 250

Funny thing about Bitcoin - though governments can likely succeed in making them less useful, they can't make them any less rare.

wearepoor

hero member

Activity: 784

Merit: 500

Quote from: bitcollins85 on July 23, 2015, 11:47:24 AM

in the long run I'm more worried about unforeseen technical problems than I am with government actions.

Government will never support bitcoin, not atleast in my country, and basically the thing is the government in my country is not worried about the bitcoin as very less people are aware about the bitcoins, so it would take a long when there would create any issue in my country related to bitcoin and government.

Topic: Government & Bitcoin - page 63. (Read 70830 times)