Government regulation of bitcoin - page 10.

kamikadze69

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Quote from: Sylenth on September 27, 2017, 02:16:30 PM

legalization of bitcoin in different countries will have different effect but few things will remain same. every country will impose taxes on bitcoin(whose value will be varied among different nations).transaction rates may increase, government will have control over currency which is decentralized , not to government but I will surely effect users.

legalization of bitcoin in country will popularize it even more,more and more users will be joined ,and it would be treated as normal currency and will be accepted everywhere in the country without any issues.

I do not think it will be that easy. even if they impose a tax for bitcoin, then what is the use of anonymous system in bitcoin. it will be a big hole that will be hard to close because if the government breaks it, I think it will be suspected to be an activity to spy someone's privacy.

Sylenth

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legalization of bitcoin in different countries will have different effect but few things will remain same. every country will impose taxes on bitcoin(whose value will be varied among different nations).transaction rates may increase, government will have control over currency which is decentralized , not to government but I will surely effect users.

legalization of bitcoin in country will popularize it even more,more and more users will be joined ,and it would be treated as normal currency and will be accepted everywhere in the country without any issues.

gadimbrut

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according to me government regulations will not affect bitcoin, usually the government only regulate how to transact using bitcoin or withdraw tax from bitcoin users, that's just my thinking, because in my country the government has not set the bitcoin

ohlawdy

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there won't be one type of regulation , as you can see now ever country handles it different .

filharvey

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Well that depends on the way regulation is implemented.If regulation is made as in china totally aggressive towards bitcoin,then it would not be appreciated and it would not help for the progress of bitcoin.

On the other hand,if regulations are made as it was made in japan,then there would be no issues and definitely,it would help for the growth of bitcoin.Japan has a friendly approach towards bitcoin and not like china.

However,out of these both ways,whatever the way regulation is implemented,we would have to accept it silently and no other way left for us.

Marry Finch

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The state has the right to take specific steps to regulate the circulation of crypto currency in this country. This may include taxation on profits from operations with the crypto currency, the procedure for making transactions, and so on. However, for cryptovplaty, encroachment on its basic principles of existence would be unacceptable, especially regarding the decentralization of the crypto currency and its anonymity in transactions.

SummerBliss

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Bitcoin is a decentralised currency that should ideally be free of government regulations. But governments just can't let a decentralized monetary system to derive the financial system. So, they will regulate it either in favor of it or against it. We just can escape government in such matters. More regulations to come from many more countries in future.

pucunghul

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Quote from: kamikadze69 on September 26, 2017, 01:37:26 PM

whether government regulation is crucial to bitcoin survival, will it have a positive or even negative impact. What do you think ?

I think every country has rules and policies about bitcoin. all are not the same, always have different legal sides. whether it is profitable or difficult. yes whatever it is if if the state has taken part, inevitably we have to obey it.

rababo

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bitcoin regulation in my country is still illegal. but that doesn't much affect anything. so I think Government regulation is not so important, and so far bitcoin is still running. even investors and increasing the volume of exchanges continue to grow.

amacar2

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With strong government regulation it will be quite hard for people to buy bitcoin and they might have to go through P2P trading where seller can charge any amount which can have positive effect on bitcoin price but tracking trading volume and market momentum will be quite hard for usual bitcoin traders without any legal/registered trading platform.

I think overall effect of government regulation will be negative one but price wise effect might look positive.

RodeoX

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Quote from: LoyceV on September 27, 2017, 10:44:20 AM

Quote from: RodeoX on September 27, 2017, 10:26:02 AM

It is important to remember that, despite what people say, there has never been a time when bitcoin was untaxed. This makes your argument about using fiat confusing because you will still have to pay tax. Tax and bitcoin are two different topics because whether you use dollars, euros, or carrots, you always owe tax on your gain.

Not all countries have a capital gain tax. Example: the Netherlands, my country of residence, doesn't have it.
We have many other (high) taxes, just not this one.

Quote from: BurstIncomeAsset on September 27, 2017, 10:54:17 AM

There was a time when there was no specific rules rules about bitcoin taxes and bitcoin was under the radar, so hide it and even use it as a way to transfer bitcoin oversea was too easy.

Good time, but looks like regulations bring confidence and higher prices

Those are both good points. I was thinking of the U.S., but liability in any country could range from owing no tax to being barred from even using bitcoin. And it may still be true that no government has the ability to cost effectively pursue crypto users at any scale.
I am happy to pay cap gains because it is a minimal tax normally reserved for the rich. Consider that the money you work your ass of to get through labor is taxed at twice the rate of cap gains.

orions.belt19

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Quote from: nrvasquez on September 26, 2017, 01:48:15 PM

Quote from: xIIImaL on September 26, 2017, 01:44:43 PM

Quote from: kamikadze69 on September 26, 2017, 01:37:26 PM

whether government regulation is crucial to bitcoin survival, will it have a positive or even negative impact. What do you think ?

Apart from Japan none of the government takes any serious steps on the bitcoin and its growth. If anyone regulate the bitcoin under their financial system then bitcoin has to face many issues like taxation, banking usages and etc..
However, regulation is not good for any bitcoin users. They have to support or else they should close their mouth from criticizing bitcoins in a wrong way.

I agree with you on tax issues. if the regulation is applied, I think bitcoin users will be even more miserable for paying huge taxes. where the government keeps an eye on every transaction activity we make.

The impact of government regulation may vary and differ depending on how it will turn out. Government regulations may eventually impose taxes because that is their way of generating revenue. This would be negative for the bitcoin users because they'd then have to pay extra for the transactions. A limit on acquiring bitcoins may also be imposed by the government regulations which would be negative for the bitcoin users as well.

hunterkrypto

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t all depends on your country whether the government there legalize bitcoin or not. in some countries the government legalizes bitcoin but is different from china which he says prohibits bitcoin in their country (I do not understand if it is just their speculation only). but if the government legalizes bitcoin whether each bank can have a percentage of interest per day / week / month / year because the average people prefer to invest with bitcoin in the bank's appeal in that country.
in any case there are positives and negatives if a country legalizes bitcoin or other coins.

mondobitcoin

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I think that no government can influence the bitcoin
Bitcoin is a separated world and it have his own rules Wink

BurstIncomeAsset

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Quote from: RodeoX on September 27, 2017, 10:26:02 AM

Quote from: Linuld on September 27, 2017, 10:21:26 AM

Once the governament accept bitcoins means we will have only problems and that will benefit for governament. becasue they will start to collect tax on every bitcoin payment. The bitcoin is famous for N number of amount transaction for no tax. if we want to pay tax means then who will use this bitcoin everyone will use fiat money.

It is important to remember that, despite what people say, there has never been a time when bitcoin was untaxed. This makes your argument about using fiat confusing because you will still have to pay tax. Tax and bitcoin are two different topics because whether you use dollars, euros, or carrots, you always owe tax on your gain.

There was a time when there was no specific rules rules about bitcoin taxes and bitcoin was under the radar, so hide it and even use it as a way to transfer bitcoin oversea was too easy.

Good time, but looks like regulations bring confidence and higher prices

LoyceV

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Quote from: RodeoX on September 27, 2017, 10:26:02 AM

It is important to remember that, despite what people say, there has never been a time when bitcoin was untaxed. This makes your argument about using fiat confusing because you will still have to pay tax. Tax and bitcoin are two different topics because whether you use dollars, euros, or carrots, you always owe tax on your gain.

Not all countries have a capital gain tax. Example: the Netherlands, my country of residence, doesn't have it.
We have many other (high) taxes, just not this one.

RodeoX

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The revolution will be monetized!

Quote from: Linuld on September 27, 2017, 10:21:26 AM

Once the governament accept bitcoins means we will have only problems and that will benefit for governament. becasue they will start to collect tax on every bitcoin payment. The bitcoin is famous for N number of amount transaction for no tax. if we want to pay tax means then who will use this bitcoin everyone will use fiat money.

It is important to remember that, despite what people say, there has never been a time when bitcoin was untaxed. This makes your argument about using fiat confusing because you will still have to pay tax. Tax and bitcoin are two different topics because whether you use dollars, euros, or carrots, you always owe tax on your gain.

Linuld

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Quote from: stompix on September 26, 2017, 02:25:13 PM

Quote from: xIIImaL on September 26, 2017, 01:44:43 PM

However, regulation is not good for any bitcoin users.

That depends a lot.
And it depends on how the regulation will work and what does that mean.
If bitcoin will be treated as a currency and that's all there will be no problems. Same as declaring it a legal tender in the country.

The problem will be taxation.
Even now, if you buy something with bitcoin in most countries you pay tax.
I know because I paid in a restaurant and the receipt clearly mentioned the VAT.

So as longs as you buy from legal merchants and not from the black market you pay taxes, even without regulations.
People sometimes forget that bitcoin won't help you much more than cash if you're going for tax evasion.

Once the governament accept bitcoins means we will have only problems and that will benefit for governament. becasue they will start to collect tax on every bitcoin payment. The bitcoin is famous for N number of amount transaction for no tax. if we want to pay tax means then who will use this bitcoin everyone will use fiat money.

anggriani

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I think government regulation is not so important in the world of crypto. Without interfering from the government, crypto continues to run and take place. But if the government supports the crypto it will add a positive influence, especially in the economic field.

DimaS1574

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For me goverment can catch a great opportunity to rich budget if will start regulation bitcoin activity, but, first, goverment has to accept bitcoin as a legal currency

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