Government Exchanges - page 3. | Bitcointalksearch.org

KrishaBitcoin

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W12 – Blockchain protocol

Quote from: jonemil24 on March 26, 2018, 03:33:36 PM

If the government still doesn't know how to put down all cryptocurrencies(or maybe they're still figuring how to tax users), why wouldn't they create an exchange and get some profit from it?

We know how B.S some exchanges are, they needed KYC but in the end, you won't be able to withdraw your funds.

Instead of spreading FUD, I hope government from all over the world knows that running an exchange can add funds for their country, and their pockets! Grin

I know it will be making cryptos centralized but look at those exchanges asking for our pretty faces and names just for their KYC/AML purposes.

It is more difficult for the government to run a government own corporations because some of the government employees are not honest enough to serve the people that they are mostly engage or be tempted in doing some corrupt activities. Therefore the best way is to just empose taxes to these establishments then just collect and the taxation department will do the rest.

BagzMM

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We know that cryto currency had greatly influenced people's lives. The fact that the government wants to involve into this kind of market is that they wanted to control the negative uses of it. Let just think for the better cryto world for the better future!

pitiflin

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Quote from: jonemil24 on March 26, 2018, 03:33:36 PM

If the government still doesn't know how to put down all cryptocurrencies(or maybe they're still figuring how to tax users), why wouldn't they create an exchange and get some profit from it?

We know how B.S some exchanges are, they needed KYC but in the end, you won't be able to withdraw your funds.

Instead of spreading FUD, I hope government from all over the world knows that running an exchange can add funds for their country, and their pockets! Grin

I know it will be making cryptos centralized but look at those exchanges asking for our pretty faces and names just for their KYC/AML purposes.

Which government are you talking about? The US? Yeah they won't be doing that anytime soon. And its not like crypto is a government thing, why would a government make an exchange for something that is not even related to them? Governments can make a ton of money, from different sources. And even if they do, they will ask source of funds, which is almost impossible when it comes to crypto. I mean, think about it, this isn't a good idea at all.

orions.belt19

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Quote from: suzanne5223 on April 17, 2018, 03:39:05 PM

Quote from: surfinonmyownwavebaby on April 17, 2018, 03:03:22 PM

Because if they could have done this they already would have. They can't setup exchanges because then people would worry about whether or not they are rigging prices, or whether or not their information is safe or being used against them. Believe me, if they could have set this up already they would have. It won't work and they know it, that is why they look to make money elsewhere in this space.

I agreed to what you said cause the political leader as know for their of manipulate thing to their own favour and I don't think the governments having their own cryptocurrency exchange is the best answer to tax.

I think it depends on the level of trust of the citizens towards their government. Why not issue licenses for already existing exchanges instead? The government shouldn't be engaging into business and the creation of an exchange would be a conflict of interest. They could generate revenue from that and that would be unfair for the market because they have control. That would monopolize the business of exchanges. It's not always best to have a government owned service provider, unlike what many people think. They can just tax the exchanges if they want to generate revenue.

Grayy

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Government creating exchanges? They may charge outrageous prices for every transaction you make. Exchanges just like the cryptos themselves must be free from extreme external influence.

Ikay

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Its look a good idea mate. It will help not to continue spread fud in crypto because even government accept it for any cost so many users now are free to use crypto like bitcoin or alt coins anywhere in the globe.

droptableguy2

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Quote from: kimochidesh on March 26, 2018, 04:31:24 PM

Quote from: player514 on March 26, 2018, 04:06:35 PM

Quote from: jonemil24 on March 26, 2018, 03:33:36 PM

If the government still doesn't know how to put down all cryptocurrencies(or maybe they're still figuring how to tax users), why wouldn't they create an exchange and get some profit from it?

We know how B.S some exchanges are, they needed KYC but in the end, you won't be able to withdraw your funds.

Instead of spreading FUD, I hope government from all over the world knows that running an exchange can add funds for their country, and their pockets! Grin

I know it will be making cryptos centralized but look at those exchanges asking for our pretty faces and names just for their KYC/AML purposes.

Governments are likely very cautious about cryptocurrencies due to the anonymous aspect of it. There have been claims of ties between bitcoin and terrorist groups, so just by that piece of information alone, it seems like governments will and should be a little more cautious when they think about supporting an anonymous currency. This could easily affect alliances between countries as well.

I do see the profit idea though, and I think that's why there are so many current exchanges. All of them reap the profits. If governments did support exchanges and crypto, it might be easier for people to evade taxes and whatnot as well.

I think this is:
The most notable change is how much more exchanges are needed to force people to fully verify themselves to use that platform. I would not even be surprised if exchanges at some point would be forced to send user information to the tax authorities of each of the countries they register.

Govt is taking all precautionary steps to centralize the Bitcoin and cryptocurrency so that they can control it and stop illegal use of Bitcoin. Govt never support a decentralize anonymously currency but they are not banning it as it may become official currency for illegal purposes like drugs trading, tax evasion, money laundering, terrorism etc because of its anonymous payment nature.

kirstiemorton23

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The government of my country is still hesitant to act, whereas the krypto currency provides a good opportunity to improve the economic sector of my country, at least the government can set tax regulations for the traders of krypto currency and who are involved in it.

crypto-bit

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If the government will create with their own exchanger, They will put their taxes in maximum capability and they implement strict compliance with that, Also the concept of cryptocurrencies will be useless coz government will control every transaction that will be made. So for the normal user like us, this is very not good.They will spy you and it leads to our privacy issue.

kenelmark

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the better idea is that governments create their own crypto currency that allow every one to invest in it. it will assure the better transactions of business with low fees of administrations. they deserve taxes for it. But Banks will resist it, of course. why do we care about banks Grin

Silberman

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Quote from: jonemil24 on March 26, 2018, 03:33:36 PM

If the government still doesn't know how to put down all cryptocurrencies(or maybe they're still figuring how to tax users), why wouldn't they create an exchange and get some profit from it?

We know how B.S some exchanges are, they needed KYC but in the end, you won't be able to withdraw your funds.

Instead of spreading FUD, I hope government from all over the world knows that running an exchange can add funds for their country, and their pockets! Grin

I know it will be making cryptos centralized but look at those exchanges asking for our pretty faces and names just for their KYC/AML purposes.

While that is a possibility, I need to ask to you will you put your money in an exchange created by a government? Because I know I won't, we must remember why cryptocurrencies were created in the first place and it was to give us independence from governments and banks, are you seriously going to give up that independence?

Hydrogen

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Quote from: jonemil24 on March 26, 2018, 03:33:36 PM

If the government still doesn't know how to put down all cryptocurrencies(or maybe they're still figuring how to tax users), why wouldn't they create an exchange and get some profit from it?

Rather than legalize marijuana, governments of the world could create their own marijuana farms and sell "green gold" to the public.

I would guess they choose to legalize and tax weed for the same reasons they would not choose to pursue owning and operating a crypto exchange. States, like people, may choose a path of least resistance and stick to things they have experience or competency at rather than branching out into areas they are unfamiliar with. Learning curves can be frightening things and economically it often can be better for people to invest time and energy into things they have a higher probability of being successful with based on a higher degree of familiarity.

The push in politics appears to be for banks to own and regulate crypto exchanges with goldman sachs recently buying poloniex through circle--one of the small satellite companies it owns a controlling interest in. Sectors like crypto being regulated by the private sector is fairly common and perhaps a more efficient, cost effective and reliable arrangement. In the USA many regulators like the CDC are privately owned rather than state owned and operated.

suzanne5223

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Quote from: surfinonmyownwavebaby on April 17, 2018, 03:03:22 PM

Because if they could have done this they already would have. They can't setup exchanges because then people would worry about whether or not they are rigging prices, or whether or not their information is safe or being used against them. Believe me, if they could have set this up already they would have. It won't work and they know it, that is why they look to make money elsewhere in this space.

I agreed to what you said cause the political leader as know for their of manipulate thing to their own favour and I don't think the governments having their own cryptocurrency exchange is the best answer to tax.

Basmic

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In order for the government to make its exchangers, they must recognize cryptocurrencies as a currency. This government will never do. They don't want to do anything but I can not look without regret as the money held by the Treasury. The state is a repressive apparatus. They will try to take money from us by force.

nankers

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Quote from: jonemil24 on March 26, 2018, 03:33:36 PM

If the government still doesn't know how to put down all cryptocurrencies(or maybe they're still figuring how to tax users), why wouldn't they create an exchange and get some profit from it?

We know how B.S some exchanges are, they needed KYC but in the end, you won't be able to withdraw your funds.

Instead of spreading FUD, I hope government from all over the world knows that running an exchange can add funds for their country, and their pockets! Grin

I know it will be making cryptos centralized but look at those exchanges asking for our pretty faces and names just for their KYC/AML purposes.

yeah im agree with your opinion. should the government think about how to legalize bitcoin instead of prohibiting. and if the government wants to collect taxes from any bitcoin or altcoin transactions, it would be better if the government makes an exchange market and charging KYC for each of those exchange users. as you say, I think it's more effective and more useful for government and bitcoin users

princeyeboah

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Quote from: jonemil24 on March 26, 2018, 03:33:36 PM

If the government still doesn't know how to put down all cryptocurrencies(or maybe they're still figuring how to tax users), why wouldn't they create an exchange and get some profit from it?

We know how B.S some exchanges are, they needed KYC but in the end, you won't be able to withdraw your funds.

Instead of spreading FUD, I hope government from all over the world knows that running an exchange can add funds for their country, and their pockets! Grin

I know it will be making cryptos centralized but look at those exchanges asking for our pretty faces and names just for their KYC/AML purposes.

Governments creating exchanges and running them to suite their regulations seems to be just a piece of the cake to them. I think the governments want to be in total control of all cryptocurrencies and anything in relation to it, the more reason for their movement on crytpcurrencies of late.

Hadji

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They look like monkeys in a zoo, throw a banana, and everyone runs a banana, but only one grabs, and the others look, just like with crypto-currencies, everyone is waiting for the first one to do everything for them, then watch his successes or failures, but only after that they will set up an exchange in their own country.

surfinonmyownwavebaby

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Because if they could have done this they already would have. They can't setup exchanges because then people would worry about whether or not they are rigging prices, or whether or not their information is safe or being used against them. Believe me, if they could have set this up already they would have. It won't work and they know it, that is why they look to make money elsewhere in this space.

Ayush rana

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Quote from: jonemil24 on March 26, 2018, 03:33:36 PM

If the government still doesn't know how to put down all cryptocurrencies(or maybe they're still figuring how to tax users), why wouldn't they create an exchange and get some profit from it?

We know how B.S some exchanges are, they needed KYC but in the end, you won't be able to withdraw your funds.

Instead of spreading FUD, I hope government from all over the world knows that running an exchange can add funds for their country, and their pockets! Grin

I know it will be making cryptos centralized but look at those exchanges asking for our pretty faces and names just for their KYC/AML purposes.

the concept of bitcoin was that it is the first decentralised currency in the world. if government opens its own exchanges then the meaning of decentralisation will change to centralised. many countries don't want cryptocurrency in their country because it is a bit risky investment and at the end governments don't want to take the headache of people losses.
use of cryptocurrency will also affect the value of trade and the fiat currency.

ss890

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Quote from: jonemil24 on March 26, 2018, 03:33:36 PM

If the government still doesn't know how to put down all cryptocurrencies(or maybe they're still figuring how to tax users), why wouldn't they create an exchange and get some profit from it?

We know how B.S some exchanges are, they needed KYC but in the end, you won't be able to withdraw your funds.

Instead of spreading FUD, I hope government from all over the world knows that running an exchange can add funds for their country, and their pockets! Grin

I know it will be making cryptos centralized but look at those exchanges asking for our pretty faces and names just for their KYC/AML purposes.

Ouch! That wont be good idea man and if they do publish one then also I will not use it as they will be able to track every other moment of mine and off course as you said they will be able to tax me too. This gets nerve wrecking even if I think about it, just imagine what will happen if I start using it lolz. Plus I dont want to give away my money to the government just like that as they are already taking lots of taxes from us. I dont just want to make fuzz about that one. I will be more than happy to exchange over the normal exchangers and pay extra fees. Come on I do need some attitude here.

Topic: Government Exchanges - page 3. (Read 817 times)