Topic: Government Furious - page 15. (Read 1783 times)
I do not think that government can ban bitcoin. Bitcoin is a decentralized crypto currency and there is no such government can take hold on it or control it. More governments has regulating bitcoin and that helps their economy as well. Accepting bitcoin is like accepting the opportunity to have a great profit. Great profit is good economic status.
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 of every country has the authority over the thing that is feared to undermine the country's economy, including bitcoin.to make a good regulation I think the government of a country should impose a tax on the income of its citizens derived from bitcoin
this should be offset by legal protection for bitcoin transactions
if the income from bitcoin or altcoin is taxed, will the government legalize bitcoin? if true, I agree. currently with the existence of blockchain technology should the government can take advantage of it for the future of the economy of the country so do not feel harmed by the existence of bitcoin. so far the unemployment rate has fallen because many people are using bitcoin to make money. because so far the government can not provide jobs to reduce unemployment rates.
Common be serious.
First , unemployment is calculated on how many people are actually searching for a job not all those that are not employed. I doubt that somebody who make money on the internet trading coins would forfeit the unemployment benefits.
I agree with you that Bitcoin doesn't make a dent in the unemployment rates because the number of people successfully trading crypto and making a living off it is well within the margin of statistical error. But as you yourself say, the unemployment rate is determined on how many people are actually searching for a job (the point which I totally agree with), so people who are living off crypto shouldn't be actively searching for a job. But that means that they are excluded from these statistics, therefore they necessarily contribute to lower unemployment. Besides, in many jurisdictions you won't receive unemployment benefits indefinitely even if they are actively searching for a job simply because you typically do find a job after some time if you are looking for it in earnest.
if the income from bitcoin or altcoin is taxed, will the government legalize bitcoin? if true, I agree. currently with the existence of blockchain technology should the government can take advantage of it for the future of the economy of the country so do not feel harmed by the existence of bitcoin. so far the unemployment rate has fallen because many people are using bitcoin to make money. because so far the government can not provide jobs to reduce unemployment rates.
Common be serious.
First , unemployment is calculated on how many people are actually searching for a job not all those that are not employed. I doubt that somebody who make money on the internet trading coins would forfeit the unemployment benefits.
Unemployment rates are at around 6% or close to some 200 millions people.
For example if this entire forum would be unemployed and all we would make a living out of coins and all the accounts would represent a different individual (no multi accounts) the dent in the unemployment number would be from 6% to 5.97%.
Common....
LE
Just checked, the unemployment rate has gone up worldwide in 2017 from 2016...
I honestly just would like to see bitcoin treated the same way as foreign currencies are, or even gold/silver.
Simply doing bitcoin transactions should not incur any taxes. Makes no sense to do so, it's like saying you're going to be taxed every single time you give someone else money regardless of the reason.
What I see with a some countries though is that VAT is added to bitcoin purchases, and CGT is applied when you cash out your bitcoin. Make up your mind, governments. You can't say that bitcoin is both a consumer good and an investment asset. This kind of double taxing shouldn't be happening. Also, apparently in Australia they are also planning on adding a tax for crypto to crypto trades. I get that there may be a tax for crypto to fiat trades, but crypto to crypto, you serious? That's like saying swapping collectibles with someone will incur a tax. Makes no sense to me.
It makes no sense when you are just thinking of the technical aspects of how they are treating bitcoin however when you begin to think about the ideological aspects it is very easy to see why they're doing this they are trying to destroy bitcoin, and they know they are unable to do it with a superior technology, they know that bitcoin will resist everything they throw at it so what they're trying to do is to make bitcoin very difficult to use that way the average person is going to think why bother? And it is going to avoid bitcoin and other cryptocurrencies in order to avoid those taxes. Simply doing bitcoin transactions should not incur any taxes. Makes no sense to do so, it's like saying you're going to be taxed every single time you give someone else money regardless of the reason.
What I see with a some countries though is that VAT is added to bitcoin purchases, and CGT is applied when you cash out your bitcoin. Make up your mind, governments. You can't say that bitcoin is both a consumer good and an investment asset. This kind of double taxing shouldn't be happening. Also, apparently in Australia they are also planning on adding a tax for crypto to crypto trades. I get that there may be a tax for crypto to fiat trades, but crypto to crypto, you serious? That's like saying swapping collectibles with someone will incur a tax. Makes no sense to me.
i can understand their government sentiment towards crypto. they take heavy blow before they could do anything. now they recognise the power and potential of crypto, slow but surely they planning something so to make sure they can take their pieces or else they will loose all they autonomy they got all till now.
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?
I think,taxes should not apply to crypto transactions. because transactions in crypto is untraceable and anonymous. also it's digital. it is impossible to take it.
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?
should the government not object to the bitcoin among them, if they are so smart to set up a country they should legalize bitcoin. believe me, bitcoin will be able to help the economy more advanced, there are some ways I think like the government is contributing to investing in bitcoin, trading, etc.but I do not think they will see the good side that is on bitcoin, with all the current news crypto especially bitcoin in view as a tool to do evil. you can imagine if one country contributes to bitcoin investing, to what bitcoin will rise?
even the president of my country once said, bitcoin and other coins are the technology of the future and us as technology users should be able to keep up.
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?
Bitcoin transactions are already being taxed. We have capital tax gains on profits when bitcoin rises in value.
Also when you buy something from a business using fiat->bitcoin->fiat (or even directly from BTC to fiat) the business has to declare that sale and pay taxes.
Illegal non taxed transactions like the ones you are thinking from BTC->BTC can also happen with fiat so there is no new threat to governments.
The governments should come out clearly that tax is their problems and their should not lebel bitcoin and other coins as a scam's system. We no their are not happy that we have a system that they cannot control and this is a beauty of it but government are not happy about this.
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?
I think the smartest thing to do is not listen to what the government says. Tell me please, when you tell the government you don't like them listening to you? Why should we be interested in their problems? We must build our economy and abandon the use of Fiat as much as possible. This will make us richer and we will be free from manipulation in the government. 
In the long term, the bitcoin tax is disastrous for the crypto currency, as it was initially conceived as an anonymous way to transfer money without intermediaries. Otherwise, anonymity is lost, and an intermediary appears in the person of the state.
Bitcoin is created polar to the concepts of banking to which the government is somehow clinged at and traditionalized upon because it is a vital part on the movement of the economy.
It would be very difficult for the government to track who use bitcoin to earn for tax collection. But if people do not want to bitcoin to be banned on their countries, they shpuld take it upon their selves to pay taxes as it is a factor to why countries are furious.
It would be very difficult for the government to track who use bitcoin to earn for tax collection. But if people do not want to bitcoin to be banned on their countries, they shpuld take it upon their selves to pay taxes as it is a factor to why countries are furious.
The supply of bitcoins is predictable. It has the core characteristics of money: durability, fungibility and severability. It creates a monetary system that is independent of credit and identity and central Banks and governments. It's a new system in the digital age.
Bitcoin enthusiasts can be found in every city. They all agree that the value of the bitcoin transaction will continue to rise, because the supply of bitcoins is strictly limited and bitcoin is far superior to the legal tender of the government.
Bitcoin enthusiasts can be found in every city. They all agree that the value of the bitcoin transaction will continue to rise, because the supply of bitcoins is strictly limited and bitcoin is far superior to the legal tender of the government.
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?
Governments find it hard to input tax on bitcoin because its beyond their control. Bitcoin resides on the internet world and its really hard for the government to detect those who are involved in bitcoin. The only way they can do is to ban bitcoin because its the easiest way for them.
China is the furiest among them, claiming cryptocurrencies kill yuan and threat Chinese economy. So they are going to strengthen the regulations and ban everything connected to cryptocurrencies
I suspect this has everything to do with the mentality of the Chinese population. I mean they are eager to look into everything new and adopt it quickly. Look what happened in Japan and then multiply that by a factor of 10. Western civilizations are more conservative in this respect. People there trust their governments more on average, and they won't jump into cryptocurrencies head over heels. Therefore, the Chinese government rightfully fears this universal craze over cryptocurrencies. It is not like Bitcoin threatens the local economy directly, it is more via people losing a lot of money in various scams that will be the major cause of headaches and problems for the government there.
the bitcoin capital transacts for reaching a bitcoin of dollars .it is the government of any country that can not get revenues or income from a transaction and it does work in the in the government of many countries complaining .the existence of a bitcoin because it is considered treat for the economy of a country .should tax bids for users .so makes a bitcoin transaction and what is the proper regulations for an address in these issues as well as help the county to which it accuse it of the economy. 
if the income from bitcoin or altcoin is taxed, will the government legalize bitcoin? if true, I agree. currently with the existence of blockchain technology should the government can take advantage of it for the future of the economy of the country so do not feel harmed by the existence of bitcoin. so far the unemployment rate has fallen because many people are using bitcoin to make money. because so far the government can not provide jobs to reduce unemployment rates.
You can to understand where the government is coming from, as far as crypto being tax, yes maybe, but legalizing it? I don't think that government wants so and we don't want it as well so the feeling is mutual. Government is afraid of crypto's being so disruptive that it can make or break a nations economic stability.
And as far as people using bitcoin to make money, its a small percentage of the population and I don't think that it can significant effects to the unemployment rates.
Government furious will show as income tax. Government already ban it. If they don't ban it, they will take income tax. But how they will come to know about Bitcoin earners??
In our country, workers who earn below 20,000 are not charged with tax and those who earn more than 20,000 are charged with tax. If this will be applied to us bitcoin users here in our country, I'd say it is fare enough if it will be the condition of our government to us so that bitcoin won't be banned in our country.
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