Topic: Government Furious - page 10. (Read 1780 times)
Many country have billion transaction of bitcoin every day, I am still think of the government rule, why they are not trying to legal of bitcoin as payment transaction ? we could not imagination how much revenue will get by government if they are trying to legal bitcoin transaction in their country. I am still confused about government rule of bitcoin, they could take revenue and comisson fee from bitcoin transaction where reached million transaction in one day.
Taxes should apply to bitcoins sold after money is made on the market. It should be just like the stock market taxes. If you aren't paying taxes on your gains, you're really just asking for trouble. Society needs taxes to run, if everyone stopped paying taxes we wouldn't even have roads or hospitals or schools.
Well, Government can be furious, when it comes to the issue of collecting Taxes from Bitcoin earners due to lack of knowledge about how much exactly is generated in the Bitcoin earners Wallet due to its peer to peer nature. But let's come to think of it, Bitcoin is highly volatile in nature and its not that easy to calculate the actual amount to be taxed even if such Wallets amount is disclosed. I feel the Government other than their revenue earns through Exchanges during cash out to Fiats, could establish a low key tax payment to Bitcoin earners and enforce payment through their registration as such. We should also be obedient enough to remit taxes to our Authorities to assist our Economies where we belong.
And I won't let them add tax to bitcoin unless we get their full support to this and shall make projects to increase the value of bitcoin. And I doubt that they will do it because they think that each country's currency will be thrown out when bitcoin happens to rule other currencies. Besides, I think it is possible to ignite a war of countries vs countries because they will wan to take ownership of bitcoin if it will not going to be a universal currency.
The capitalization of bitcoin transactions reaches billions of dollars but governments of any country can not get revenues or income from these transactions and this makes governments in many countries complain of the existence of bitcoin because it is considered a threat to the economy of a country. Should tax apply to users who do bitcoin transactions? When are users comfortable with this situation? what is the right regulation to address these issues to help each country improve its economy?
of course the government does not want to take silence in this increasingly bitcoin transaction. Just wait for them to make a new policy about bitcoin or they put taxes into each user who has bitcoin 
The capitalization of bitcoin transactions reaches billions of dollars but governments of any country can not get revenues or income from these transactions and this makes governments in many countries complain of the existence of bitcoin because it is considered a threat to the economy of a country. Should tax apply to users who do bitcoin transactions? When are users comfortable with this situation? what is the right regulation to address these issues to help each country improve its economy?
Government dont get taxes because they do not want to regulate bitcoin trade. If bitcoin trade regulated, I am believe bitcoin investor fine with taxes and feel more confidence to investing more money
I bet some countries are already charging taxes when people convert their bitcoins into FIAT, so i don't think they should be charging tax when people use cryptos to make purchases online.Maybe that's why they are calling for more regulations in the crypto community.
Unless you live in a country which does not charge you taxes, in theory every single country around the world should be charging you taxes when you convert your bitcoin to fiat, the only reason why they would do not this is if you got losses instead of profits, but if you get profits then you're probably subject to capital gain taxes and if you want to be out of trouble you need to pay them.Dubai doesn't charge tax so it would ok over there. Other governments that don't have billion in oil revenue are certainly getting annoyed and very worried at just how they will collect tax via bitcoin transactions. Also, if they get too involved then people will switch to privacy coins like deeponion or xspec.
I bet some countries are already charging taxes when people convert their bitcoins into FIAT, so i don't think they should be charging tax when people use cryptos to make purchases online.Maybe that's why they are calling for more regulations in the crypto community.
Unless you live in a country which does not charge you taxes, in theory every single country around the world should be charging you taxes when you convert your bitcoin to fiat, the only reason why they would do not this is if you got losses instead of profits, but if you get profits then you're probably subject to capital gain taxes and if you want to be out of trouble you need to pay them. 
Most of the Government will just legalize cryptocurrencies to get their share of the pie because they know that everyday billions are traded in the crypto market and they just can't ignore it anymore so we are going to see most of the Government legalize crypto in the coming times.
The main reason behind government furious against bitcoin like cryptocurrency is their decentralised nature. Because of this no one can control this and no government never want something in their country which they cannot control. Bitcoin also affect their economy growth by affects the tax. Due to its digital nature Bitcoin user doesn't pay tax. Bitcoin also affect an country currency value in the international market and this could happen to be a reason. 
The capitalization of bitcoin transactions reaches billions of dollars but governments of any country can not get revenues or income from these transactions and this makes governments in many countries complain of the existence of bitcoin because it is considered a threat to the economy of a country. Should tax apply to users who do bitcoin transactions? When are users comfortable with this situation? what is the right regulation to address these issues to help each country improve its economy?
The government can not interfere with bitcoin transactions, because bitcoins are hard to trace. Perhaps because of this comfortable situation bitcoin users continue to benefit without any hindrance. Taxes are one way governments gain profit for bitcoin users 
Although it was a biggest threat to the economic stability in a country the existence of digital or cryptocurrency. It is not cryptocurrency will adopt into governance but rather it is the government to make a rules to regulate and fine taxes for every personwho is involve on the cryptocurrency today.
Because of Blockchain technology in which the transaction is P2P in which the process is just like transferring your money from your left pocket to your right pocket in which there is no third-party involved during remittances unlike regular currency there is payment including taxes during transfer by the service provider, that's make bitcoin and blockchain technology makes differences, the government can only implement taxation during exchange from BTC to local currency provide there is a law that would regulate on tax collection policy.
The government is sitting snickering faces, and they will never raise the economy of their country and their people! Their main task - not to allow improvement of prosperity of people! Do not let them tax, they will be small. Neither the country nor the population of this will not become richer! It's time to push these rats! 
It's actually possible to the government if they pursuit to tax the cryptocurrency users.
Although it was a biggest threat to the economic stability in a country the existence of digital or cryptocurrency. It is not cryptocurrency will adopt into governance but rather it is the government to make a rules to regulate and fine taxes for every personwho is involve on the cryptocurrency today.
This is indeed the biggest threat for the government in a first place they have no control over it, and they seems to be losing more client and investor because they rather choose bitcoin than in banks and another thing they lose income as well so I guess there should be a way or a win-win situation over these thing...if they cannot put tax over bitcoin then the user himself will be the one who will pay tax?..
I bet some countries are already charging taxes when people convert their bitcoins into FIAT, so i don't think they should be charging tax when people use cryptos to make purchases online.Maybe that's why they are calling for more regulations in the crypto community.
The capitalization of bitcoin transactions reaches billions of dollars but governments of any country can not get revenues or income from these transactions and this makes governments in many countries complain of the existence of bitcoin because it is considered a threat to the economy of a country. Should tax apply to users who do bitcoin transactions? When are users comfortable with this situation? what is the right regulation to address these issues to help each country improve its economy?
If you were part of the government would you not be mad that there is all this money moving all around the world and that you cannot touch it and that you cannot tax it? Even if we do not like the tight control that governments have of the economy and society in general it is very natural for them to be mad at something that is defying their control to such an extent. 
This is one of the reasons why other countries are pushed to regulate and even ban bitcoin and the rest of digital currencies because they can't get any single cents from these cryptographic transactions. This is also what makes it hard for bitcoin to realize its purpose.
Apparently, one of the reasons why we cannot have any other way than just to accept regulation for a win. However, regulation still have a lot of limit since it is going to be restricted to exchanges and most individuals who may still be running their P2P transactions without a third party like exchanges which was the main idea of satoshi anyway will still find it pretty hard for the government to tag down for taxes.Nevertheless, as it is, I am sure one way or the other, virtually most investors will still end up making use of an exchange at one point or the other, and with KYC, no one can escape it.
The government will not be angry at bitcoin, and they will regulate large exchanges for tax revenue.
The government will be more supportive of bitcoin's development by managing its profits.
The government will be more supportive of bitcoin's development by managing its profits.
The capitalization of bitcoin transactions reaches billions of dollars but governments of any country can not get revenues or income from these transactions and this makes governments in many countries complain of the existence of bitcoin because it is considered a threat to the economy of a country. Should tax apply to users who do bitcoin transactions? When are users comfortable with this situation? what is the right regulation to address these issues to help each country improve its economy?
It was very obvious that some of the governments are afraid for their people to get rich and no one will be interested to work on the corporate world and most of them will just focus on trading in the market.
Jump to: