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Topic: Government on legalising bitcoins - page 8. (Read 1402 times)

legendary
Activity: 1372
Merit: 1008
March 27, 2018, 03:05:42 AM
#92
I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.
i really love that if our government will legalize bitcoins.if we will support bitcoin from the others then we have to do it.so that if the government will see our support then they will do legalize in our country.and that was a big help to the other bitcoin lover.
I think all users will strongly agree and like this idea. but to realize this happens is not an easy thing. there is always a certain requirement if you want to get the law and regulation for something i goverment. may be like a profit to the government ranging from taxes, the loss of decentralization and so forth. do you want if bitcoin is legalized but decentralization is gone from bitcoin?
jr. member
Activity: 40
Merit: 4
March 26, 2018, 03:54:27 PM
#91
It could happen. It is maybe early, but it is definitely possible. I don't know about that 30% though. Seems to be a little high percentage, because there is one more tax that we need to pay and it is around 20% (yearly income).
newbie
Activity: 185
Merit: 0
March 20, 2018, 05:04:00 PM
#90
Many of them are already doing this. Or do you mean the global situation here? In such a case the relative proportions are quite disappointing at the current moment at least.
member
Activity: 308
Merit: 12
March 20, 2018, 03:38:36 AM
#89
There are some country where bitcoin is legal and payments are subject yo taxes. https://www.investopedia.com/ask/answers/121515/bitcoin-legal-us.asp

List of countries where bitcoin is legal and not can be viewed on this link http://www.stockmaster.in/howtoinvest/top-countries-where-bitcoin-is-legal-and-illegal/

But there are some government where bitcoin is considered not legal and they regulate crypto use within their country. Some banned its use and exchange. Financial risk that it may brought to the users and holders, and utilization of btc and other crypto in illegal activities were some of the reasons of why it is still illegal in other country.
But im still hoping that other government will consider the benefits of crypto especially when it comes on making transactions.
full member
Activity: 392
Merit: 100
March 20, 2018, 02:01:45 AM
#88
if it can be realized indeed very helpful lifting the country's economy. But it also must be through various considerations by the government. Given the price of bitcoin also unpredictable down and rising prices.
Yes that could be the main reason for some governments that are still considering the risk that can be obtained. Most of the governments.. I'm sure it's really take into account the characteristics of this digital currency. But for a country that does have a higher level of knowledge than any other country, I believe it can be advance the country.
hero member
Activity: 1400
Merit: 536
March 19, 2018, 03:26:19 PM
#87
I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.

Obviously, but every authority is taking time in adapting. Lacking back in new adaption. Revenue, employment to the  citizens, country's wealth and citizen's wealth would completely change if bitcoin is adapted or announced as legal. There are sources here in bitcoin to earn it and multiply it without much investment. A strong foundation can be made with bitcoin and other crypto currencies. The countires can it self create its own crypto currencies.
Yes, some countries are abandoned to try to control Bitcoin, and these countries are trying to use Bitcoin most effectively. For this reason, it is more logical to use wind instead of resistance to the wind. It's just a simple example.
hero member
Activity: 882
Merit: 517
cloverdex.io
March 19, 2018, 02:42:33 PM
#86
I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.

Obviously, but every authority is taking time in adapting. Lacking back in new adaption. Revenue, employment to the  citizens, country's wealth and citizen's wealth would completely change if bitcoin is adapted or announced as legal. There are sources here in bitcoin to earn it and multiply it without much investment. A strong foundation can be made with bitcoin and other crypto currencies. The countires can it self create its own crypto currencies.
full member
Activity: 420
Merit: 100
March 19, 2018, 11:21:06 AM
#85
if it can be realized indeed very helpful lifting the country's economy. But it also must be through various considerations by the government. Given the price of bitcoin also unpredictable down and rising prices.
full member
Activity: 532
Merit: 103
March 16, 2018, 10:08:55 AM
#84
I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.

It should happen so the revenue will be threefold than revenue received from fiat's. The employment of the country would increase and the countries economic status would boom up. Wish governments should adapt bitcoin very soon. 
member
Activity: 420
Merit: 10
March 16, 2018, 07:40:02 AM
#83
Several of them have already started this process. The info regarding this was included in some earlier topics here.

Still, there are many countries which don't have a good vision about the Bitcoin and it's concerned cryptocurrencies because these things will take some time. Almost governments have to study a lot before legalising the Bitcoin and technology behind it.
full member
Activity: 392
Merit: 137
March 16, 2018, 07:27:33 AM
#82
I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.

I wish this should happen soon. Lots of good things would happen when adapted. An authority seriously has to look at its benefits. Country's economic system would grow, citizen's lifestyle would get changed when they each work with crypto currency and employment would increase in the respected country. Wish and hope every government would legalize bitcoins and other crypto currencies.
What do you expect the government to legalize bitcoin? Do you hope that bitcoin will be accepted for payment in any store? I am 100% sure this will not happen even after legalization. The maximum that the government will permit it is legal to exchange bitcoin for Fiat money after taxes. Do you need such changes? We need to learn how to use bitcoins regardless of government.
newbie
Activity: 185
Merit: 0
March 16, 2018, 07:16:59 AM
#81
Several of them have already started this process. The info regarding this was included in some earlier topics here.
full member
Activity: 826
Merit: 111
March 15, 2018, 12:10:44 PM
#80
I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.

I wish this should happen soon. Lots of good things would happen when adapted. An authority seriously has to look at its benefits. Country's economic system would grow, citizen's lifestyle would get changed when they each work with crypto currency and employment would increase in the respected country. Wish and hope every government would legalize bitcoins and other crypto currencies.
member
Activity: 182
Merit: 10
March 15, 2018, 08:41:20 AM
#79
I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.
i really love that if our government will legalize bitcoins.if we will support bitcoin from the others then we have to do it.so that if the government will see our support then they will do legalize in our country.and that was a big help to the other bitcoin lover.
member
Activity: 166
Merit: 11
March 15, 2018, 07:55:15 AM
#78
I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.

People would not like if bitcoin will be taxed, and I doubt if the government could do it since people are anonymous when doing their transactions. Maybe, that is one of the reasons why some government are threatened and started banning cryptocurrency. People can earn a lot, and yet the government cannot get anything from them.
full member
Activity: 1498
Merit: 146
March 15, 2018, 12:39:50 AM
#77
I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.
LOL,it might not suit for all the corrupted countries becaue politicians will take all their country's revenue and make them richer not spend them for the people welfare.So I don't want to pay any taxes for my country because it will keep my country's politicians richer not the people.
What choice do you have? Lol. In order to use your bitcoins you have to exchange them for Fiat. All such transactions are monitored by banks. How can you not pay taxes on them? You will be fined and you will pay more. You may not want to do this but your opinion is of no interest to anyone. All friends and enemies of the law.
My country don't have any specific specific tax yet for cryotocurrency so for me it is not a problem to buy bitcoins with fiat through banking system.I am not talking about the normal 10% of taxes,many countries like USA asking upto 40% taxes so I don't think that tax might not help me in anyways.
But the problem is only if we convert our bitcoins to fiat but I am not thinking about this,I will jold bitcoin as long as it can be used as direct form of payment.
sr. member
Activity: 434
Merit: 252
March 14, 2018, 12:29:32 PM
#76
I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.
LOL,it might not suit for all the corrupted countries becaue politicians will take all their country's revenue and make them richer not spend them for the people welfare.So I don't want to pay any taxes for my country because it will keep my country's politicians richer not the people.
What choice do you have? Lol. In order to use your bitcoins you have to exchange them for Fiat. All such transactions are monitored by banks. How can you not pay taxes on them? You will be fined and you will pay more. You may not want to do this but your opinion is of no interest to anyone. All friends and enemies of the law.
full member
Activity: 1498
Merit: 146
March 14, 2018, 11:42:26 AM
#75
I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.
LOL,it might not suit for all the corrupted countries becaue politicians will take all their country's revenue and make them richer not spend them for the people welfare.So I don't want to pay any taxes for my country because it will keep my country's politicians richer not the people.
sr. member
Activity: 812
Merit: 260
March 14, 2018, 10:38:55 AM
#74
Governments do not want to legalize cryptocurrencies. On a national scale, this is very little money for the government to be interested in receiving taxes. Governments do not want to create conditions under which the popularity of the cryptocurrency will grow. Under the pretext of legalization, governments will collect information about cryptocurrency users in order to make this impossible.

Governments benefit in various ways. Taxation is one aspect, and controlling the centralized ecosystem is another aspect. I may agree that the controlling aspect has more direct value to the government, but as crypto grows larger and larger, the tax income flowing into the pocket of the government grows larger too. Crypto has the potential to become a multi trillion dollar asset class, and this will happen whether governments fairly regulate the market or not. It's up to them. First option is to obtain full control over anything that's centralized and earn massive amounts of income through tax. Second option is to slow down or even prohibit crypto, which will result in the government to not only miss out on massive potential tax income, but most importantly, they lose all the control they could have had. Most governments aren't stupid, and will go with the first option.

Another main benefit would be the employment. When the government revenue is increased lot more can be done the citizens freely after taxing of course. The country's economic condition would seriously improve. But as they worry about local fiats and banks revenue, they are not allowing Bitcoin or any other currencies to get into it .
You are right, as well as those businesses had also benefited in cryptocurrency, because of this a lot of people had increased their purchasing power to buy goods and services for their own so we are all benefiting on it including the growth of our economy.
sr. member
Activity: 1246
Merit: 261
★ Investor | Trader | Promoter
March 11, 2018, 06:19:30 PM
#73
Governments do not want to legalize cryptocurrencies. On a national scale, this is very little money for the government to be interested in receiving taxes. Governments do not want to create conditions under which the popularity of the cryptocurrency will grow. Under the pretext of legalization, governments will collect information about cryptocurrency users in order to make this impossible.

Governments benefit in various ways. Taxation is one aspect, and controlling the centralized ecosystem is another aspect. I may agree that the controlling aspect has more direct value to the government, but as crypto grows larger and larger, the tax income flowing into the pocket of the government grows larger too. Crypto has the potential to become a multi trillion dollar asset class, and this will happen whether governments fairly regulate the market or not. It's up to them. First option is to obtain full control over anything that's centralized and earn massive amounts of income through tax. Second option is to slow down or even prohibit crypto, which will result in the government to not only miss out on massive potential tax income, but most importantly, they lose all the control they could have had. Most governments aren't stupid, and will go with the first option.

Another main benefit would be the employment. When the government revenue is increased lot more can be done the citizens freely after taxing of course. The country's economic condition would seriously improve. But as they worry about local fiats and banks revenue, they are not allowing Bitcoin or any other currencies to get into it .
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