Government Furious - page 16. | Bitcointalksearch.org

hahahafr

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Well, they did not kill yuan. And that won't happen.

China is one of the most powerful countries that has ever existed, they need to create regulations over everything (and their kind of government is very succesfull)

So yes, if it happened, then it means that it was a good decision after all..

Quote from: Dragon5 on April 01, 2018, 08:59:15 AM

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

Dragon5

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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

Aikidoka

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Bitcoin was created to oppose the economy systems especially banks. If the government interferes with bitcoin, then the later will lose its purpose. However, since everyone (Social media, banks, the governments) is fighting against bitcoin which led to the drop of its price, I believe that it is best to impose taxes on it which is better than banning it completely. But the taxes should not be high to begin with.

Just John

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You're right. Governments have not found a way to put taxes on bitcoin which is why they are doing all they can to stop the rise of bitcoin but they cannot. Bitcoin will bounce back stronger and even better than ever.

nur rochid

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I think bitcoin is not threat to the world economy, because its existence is only 1%. if for taxes may be because government can not control btc so there are still many consideration to legalize it

beccer

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actually I do not mind if I have to pay taxes for bitcoin investment, if the government is worried about a dark transaction in bitcoin then they should communicate with the founders to discuss this instead of spreading the news will close btc access so that everyone feels afraid and do sell panic

mokong11

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Quote from: daarul50 on March 30, 2018, 03:58:22 PM

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'm just curious who take the advantages of every transaction fees of bitcoin ? is it bitcoin or blockchain? i don't know the answer thats why I asking because in my opinion if the government take the advantage of every transaction fee of bitcoin and not make it a tax its probably help the economy of a country because of its big source of money and value.

Hell-raiser

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Quote from: VeronAncient on April 01, 2018, 02:50:01 AM

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.

It's an illusion of wealth and employment. People get themselves busy with speculations but this is not a real employment since it doesn't create real wealth. All it does is redistribute already existing wealth, but someone has to create this wealth in the first place. Nor can you redistribute it indefinitely simply because it is consumed in the process and has to be constantly created by someone. Not surprisingly, at the end of the day most of these "self-employed" people will be left with nothing, with neither money nor jobs. And we are already well on the way there.

VeronAncient

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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.

CuteBaby123

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Quote from: daarul50 on March 30, 2018, 03:58:22 PM

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.

linshisui38

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Quote from: daarul50 on March 30, 2018, 03:58:22 PM

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 country has gotten taxes on bitcoin transactions, because people generally trade bitcoins on exchanges, and often these exchanges are regulated. So every time you trade a bitcoin, the state gets your taxes.

burnchan

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Quote from: daarul50 on March 30, 2018, 03:58:22 PM

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 taxes are clearly imposed to all crypto transactions, then I think we have no choice but to comply what is imposed by the government. At first, I am against bitcoin taxes. But I was thinking that if this is the only way that the government would accept Bitcoin then I would prefer paying taxes than not allowing bitcoin or any crypto transactions in mu country. This would be a win-win situation to the government and the Bitcoin or crypto users.

Yamifoud

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Of course the government want to take shares from a big amount of money involve in here that't why they tried to regulate these and collect taxes. But people won't let them do it cause it only lead them to take a away the decentralization character of crypto and it also create a huge manipulation in the market price which basically lessen our chances of gaining more profit.

GoodLuck2

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Quote from: jcarlo on March 31, 2018, 01:07:35 AM

Quote from: daarul50 on March 30, 2018, 03:58:22 PM

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

It should not be considered that Governments do not want it for their own money to get tax from their people that are not the real facts I think. Bitcoin is decentralized and anyone can use it in order to get huge profit same as Governments can also get benefit from the Bitcoin and can make more money than the money getting as taxes from people. So, their economies will grow hundred times more than that which is from taxes.

Ejanend

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Quote from: jcarlo on March 31, 2018, 01:07:35 AM

Quote from: daarul50 on March 30, 2018, 03:58:22 PM

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

This is not just about taxation, people have no confidence in their governments and this is why most of them are preferring a system of currencies which is not controlled by corrupt politicians. Again corruption will be done with bitcoin just like it is done with cash. I don’t think so there is any need of paying high taxes for bitcoin because we are already paying too much taxes on each and everything.

Slow death

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Quote from: daarul50 on March 30, 2018, 03:58:22 PM

[...]

I do not think governments are "Furious" because of the reasons you mentioned, governments are a group of people who have their own interests, are people who are or partner with banks and governments want to have control of everything, the governments are taking tough measures against bitcoin due to its decentralization and being anonymous and very volatile.

countries that have a very transparent democracy will not see a problem in regulating bitcoin, but countries where there is a dictatorship, where there are political elites, where bankers are the kings, do not look bitcoin with good eyes.

Shenzou

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Quote from: daarul50 on March 30, 2018, 03:58:22 PM

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 only way that govermments would start applying taxes to get profit from bitcoin transaction is if they accept it first, and at that point i think many poeplple would be totaly ok with it, because if you think about it, people right now uses bitcoin online and when they want to exchange it to fiat they have to go throw many process like finding an exchnage and somone to sell to which will take time and fees, so if we can directly go to the bank and exchnage our bitcoin instantly and use it when we want and just by paying a small fee than i see no harm if governments tax it.

daarul50

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Before as thankful for your suggestions
I still have not found any good advice regarding proper regulation for bitcoin in a country. Of the many suggestions that argue that bitcoin transactions are anonymous and can not be known where a fund goes in a transaction so the government can not provide taxes because they do not know who is doing the transaction. I am still waiting for more advice from friends but the conditions are slightly changed: The government imposes a tax on a bitcoin transaction in its exchange-based services in both its payments and trade.

pixie85

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Government cares less about taxes and the possible losses that this 1 % of the population that keeps money in Bitcoin and is against paying taxes. I think it's even less than 1% of the population.
What the government might care about is the lack of control and cryptocurrencies being used to move money in and out of the country under their nose the way people used to smuggle drug money. The difference is now they can do it sitting on a couch.

JL421

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Why do you even support or what the government to regulate if you see in terms of government it is a pure loss for them there are way too many services or coins which are made to enable privacy and can help holders evade taxes way easily. There are surely few people honest enough or scared to pay their taxes but setting up a tax collection agency for bitcoin is clear waste

Topic: Government Furious - page 16. (Read 1783 times)