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Topic: Government Furious - page 4. (Read 1773 times)

newbie
Activity: 98
Merit: 0
June 12, 2018, 10:03:12 AM
the government is very angry, most likely because they feel they get nothing from the results of bitcoin transactions in any case. let them legalize and tax the bitcoin users. of course they also benefit.
newbie
Activity: 70
Merit: 0
June 12, 2018, 09:42:47 AM
now the government will not penetrate the system o crypto if they will legalize btc they do it to get something but it's better to collect taxes in bitcoin seekers than to provoke governments and make them realize that btc is not beneficial in the economy if they just ban it across the country making btc prices fall. In any form or form the user is required to pay taxes on their transactions, except from a few cases and situations. I do not even understand why you are making a problem from the fact that currently most of the transactions are not taxed.
sr. member
Activity: 338
Merit: 250
Asura – Self Sustainable eSport ecosystem
June 12, 2018, 09:21:33 AM
I see the government as greedy. There are several ways to tax citizens. Direct and indirect tax exist in every country. Owners of cryptocurrency may not pay direct tax on their cryptocurrency, but cannot avoid paying indirect tax. Again, it is a small fraction of the population that are into cryptocurrency. So the agitations by government from my standpoint is unwarranted.
Governments are now realizing the need of Bitcoin and that is why recently we have seen the act of Germany and recognized the Bitcoin for the first time ever in their history. This need is feeling to other countries as well because they are watching and observing the economies of other countries which are using Bitcoin. They also need this and soon the whole world will demand for it.
I don't think that imposing taxes on bitcoin users would be an easy job to do since bitcoin transactions is anonymous so how can governments trace the people who are behind these transaction, let alone tax them. But again I agree with you as the number of bitcoin users in my country doesn't take up much of the population and the people here have to pay like hundreds kinds of tax and we have no way to avoid it. Moreover, there are doubts about where these taxes will actually end up because we heard on the grapevine that most of them usually goes into politicians' private use. So I don't support imposing taxes on bitcoin.
newbie
Activity: 101
Merit: 0
June 12, 2018, 08:43:43 AM
why should the state impose a tax on bitcoin transactions? should the state not suffer losses when there is a bitcoin transaction, so, in my opinion there is no state reason to set taxes for bitcoin transcation.
full member
Activity: 308
Merit: 100
June 12, 2018, 08:38:12 AM
In near future this question can be regulated i think, because not all government are corrupted, so they can create a method of real way to make transactions with small taxes
member
Activity: 279
Merit: 12
June 12, 2018, 04:07:37 AM
yes you are right the government's ambition is very high not to legalize bitcoin and it will attract taxes for bitcoin users and actually it does not really matter because not all bitcoin users always benefit.
jr. member
Activity: 210
Merit: 1
June 12, 2018, 03:17:08 AM
Do the government can not make a regulation to impose the collection of tax to cryptocurrency as billions of dollars passes everyday to the users and investors who transact that huge money then it should apply to the users who do bitcoin transaction.but  I don't think that a lot of people (if not all) will probably be not that comfortable in having crypto's be centralized or regulated.
newbie
Activity: 140
Merit: 0
June 12, 2018, 02:53:14 AM
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

The financial institution of the government is not stopping by looking into the Bitcoin digital transaction, they want a full regulation of crytpo currency transaction, taxes on every trading or transaction of Bitcoin, as simple as it is may sound but it may end up on the total control on market trading of Bitcoin. Yet, it is difficult for them to have a total control simply because of the Decentralized system. and this is the possible reason on the never ending issue of Regulation.
Government are furious about this happenning that they can not take control on bitcoin, they can not impose taxes to bitcoin transaction and payments, and mostly they cannot regulate what they want from bitcoin
sr. member
Activity: 1876
Merit: 370
June 12, 2018, 02:20:35 AM
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

The financial institution of the government is not stopping by looking into the Bitcoin digital transaction, they want a full regulation of crytpo currency transaction, taxes on every trading or transaction of Bitcoin, as simple as it is may sound but it may end up on the total control on market trading of Bitcoin. Yet, it is difficult for them to have a total control simply because of the Decentralized system. and this is the possible reason on the never ending issue of Regulation.
sr. member
Activity: 783
Merit: 270
June 12, 2018, 01:38:08 AM
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?

In my own opinion, taxes are already considered as fees and because of that, there is no need to ask for tax, the only reason why government is asking for tax is that, they want to get more money from people which will directly go to their own pocket.
There are some countries across the world that have been furious about the technologies like Bitcoin and have banned them there. This was a huge downfall to Bitcoin and the demand simply fell to the ground. However there is nothing to be afraid of Bitcoin and the technology should be spread instead. As a result of this act, we might seem some beautiful financial days in future.
member
Activity: 518
Merit: 11
June 11, 2018, 05:52:17 AM
if the traders who play bitcoin charged taxes it seems not good and not good because players do not always get a profit and should not be bitcoin can be controlled by the government.
hero member
Activity: 644
Merit: 500
June 11, 2018, 03:35:46 AM
I see the government as greedy. There are several ways to tax citizens. Direct and indirect tax exist in every country. Owners of cryptocurrency may not pay direct tax on their cryptocurrency, but cannot avoid paying indirect tax. Again, it is a small fraction of the population that are into cryptocurrency. So the agitations by government from my standpoint is unwarranted.
Governments are now realizing the need of Bitcoin and that is why recently we have seen the act of Germany and recognized the Bitcoin for the first time ever in their history. This need is feeling to other countries as well because they are watching and observing the economies of other countries which are using Bitcoin. They also need this and soon the whole world will demand for it.
hero member
Activity: 882
Merit: 500
June 10, 2018, 02:45:27 AM
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?
In actual every government of every country have Thier own opinion toward the bitcoin , at one side they are thinking that bitcoin is using by the people for illegal activities and opposite of this side they are thinking that lots of money is entry our country easily .
So a type of thinking here working and few governments made good rules to regualte the bitcoin use in perfect way so that people only can use bitcoin for simple and fair use instead to use in illegal things by making the use of every transaction in digital .
But opposite of this few countries are failed to make perfect rules to regulate bitcoin , so they are thinking to ban .
If we take exmaple of the country where I am living then here the government is not saying clearly that whether they are going to ban or regualte or legalisation anything , they are only making rules that are creating difficulties for us to use bitcoin buy and sell .
full member
Activity: 350
Merit: 110
June 10, 2018, 02:30:32 AM
This is the reason why the Government of any countries upon legalizing the use of cryptocurrencies needs to create an extensive regulation to it because they feel cheated when they are not getting any revenues from the billions of transactions happening in the crypto world. They know that the money they could get from the taxes if implemented to the people who are using cryptos could somehow help their economy.
full member
Activity: 714
Merit: 103
June 10, 2018, 01:40:42 AM
the government is not entitled to impose a tax if it does not do anything, but if the government makes a rule to protect bitcoin then the government is entitled.
newbie
Activity: 112
Merit: 0
June 10, 2018, 01:14:47 AM
the government of any country can not earn income or income from this transaction 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.
newbie
Activity: 56
Merit: 0
June 10, 2018, 01:10:12 AM
The government understands that they can not only impose any taxes and everything just because the value is being moved from one place to another. On top of that, it also depends per country what Bitcoin is classified as, and based on it you may end up having to pay taxes in certain situations.
sr. member
Activity: 490
Merit: 251
June 09, 2018, 11:55:18 PM
Without a doubt ambiguity of Bitcoin exchanges give the administration migraines, however it doesn't mean they can't control the stream of cryptocurrency in their nation. I think they should simply strengthen digital money and make a controlled wallets which enables clients to change over and exchanges through it and have it burdened. In that way they are helping their constitutes and enhance their economy also.
jr. member
Activity: 364
Merit: 3
GIGZI - INDEPENDENT WEALTH MANAGEMENT
June 09, 2018, 11:40:11 PM
The government is furious about bitcoin ,because of its characteristic of being a decentralized kind of currency that is circulating in the digital world, so the goverent are furios because they can not monitor the activity of bitcoin and other cryptos, can not implement taxations on bitcoin and can not manipulate the movement of bitcoin that is the reason government is so furios about bitcoin.
sr. member
Activity: 686
Merit: 250
June 09, 2018, 11:37:18 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?

It is true that governments are not getting any revenues from crypto currency, but should it be taxed? For me, I don't want my hard earned money to be taken away by the government, it is true that we use taxes to better our economy, but it is also true that most politicians are corrupt and we cannot control them, once they realize bitcoin's potential they might take it, it is a good thing that bitcoin still is anonymous. As of now, I am comfortable eith my investments in crypto currency, I think what thr government should just watch out for is for those hackers that would want to infilatrate a nation's security, rather than those who are trying to make a living, for the third question, I think it is much better if those who are in the community will make the regulation, rather than some outsider who thinks they know what they are doing.
They do not care about what we want, they see a new industry and governments cannot stop themselves from wanting to get what they consider to be their share of the pie, but for the first time an industry was designed to avoid exactly that and governments do not know what to do, they never faced an opponent like cryptocurrencies before, they are very good at dealing with centralized enemies but they cannot really understand how to deal with a decentralized enemy.

I somehow agree with you. As of now, the only thing they can do is limit the usage of crypto or worst case scenario would be banning crypto. The regulation of crypto is what most of the people are also waiting, most specially those companies who are also interested about the blockchain technology.
It seems to me the only limit to cryptocurrencies are cryptocurrencies themselves, governments may try to regulate them or to ban them but if the utility of cryptocurrencies is still there then the people will keep using them, some will stop to use them if a ban is implemented but many will not care since they do not really worry about government approval at all.
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