Topic: Government Furious - page 4. (Read 1783 times)
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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. 
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 .
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.
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.
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.
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.
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.
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.
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.
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.
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