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You will still need to pay taxes to the government and they will still annoy you about it.
You will never need to pay taxes on BitCoin to BitCoin transactions. Only when converted to a fiat currency.
Topic: Government Response to Bitcoin (Read 1950 times)
You will never need to pay taxes on BitCoin to BitCoin transactions. Only when converted to a fiat currency.
The only way they could control it is if they mined most and bought all, wont happen
If one of these coins are REALLY successful, it will be a threat to government power and they will try to suppress it. It will also threaten the status of USD as the de facto international currency. I just hope they can't take it down or by the time they try, too many of their citizens have a stake in the coin to just let them shoot it down.
By really successful, I mean a lot of people worldwide actually use it to trade goods and services, not just a small fraction of the world population hog it hoping it's value will increase.
By really successful, I mean a lot of people worldwide actually use it to trade goods and services, not just a small fraction of the world population hog it hoping it's value will increase.
You will still need to pay taxes to the government and they will still annoy you about it.
For a government, it is just a matter of thinking how to do this.
If the government wanted to shut down bitcoin they would've already done it. If they wait until more businesses adopt it as a payment processor they will receive a lot of backlash from the bitcoin community if they were to take it down.
If one of these coins are REALLY successful, it will be a threat to government power and they will try to suppress it. It will also threaten the status of USD as the de facto international currency. I just hope they can't take it down or by the time they try, too many of their citizens have a stake in the coin to just let them shoot it down.
By really successful, I mean a lot of people worldwide actually use it to trade goods and services, not just a small fraction of the world population hog it hoping it's value will increase.
By really successful, I mean a lot of people worldwide actually use it to trade goods and services, not just a small fraction of the world population hog it hoping it's value will increase.
BTC will likely be used to break the USD as the world reserve currency. Look at the recent adoption in China, insanity is an understatement.
I'm more worried about the IRS!
No one can stop us!!
2015 wollen NSA und DISA (Defense Information Systems Agency) ein neues Datencenter in Betrieb nehmen. Der Bauauftrag im Wert von 565 Millionen US-Dollar wurde im März vergeben, wie Erick Möchel berichtet hat. (D Sokolo) / (anw)
von http://www.heise.de/newsticker/meldung/Ex-Terrorfahnder-Keine-digitale-Kommunikation-ist-sicher-1856682.html
TL;DR local Childboards lacking here!
von http://www.heise.de/newsticker/meldung/Ex-Terrorfahnder-Keine-digitale-Kommunikation-ist-sicher-1856682.html
TL;DR local Childboards lacking here!
NSA still can't crack AES. Use AES-256 communications and digital communication is secure again. Even the strongest most ridiculous conceivable supercomputers cannot crack AES.
Look up Bruce Schneier's description of what is necessary to crack an AES key.
Even 0.5 billion dollars won't help that. This center will help something, yes. It will help getting worldwide encryption standards for communication going. Its primary goal is interception of not encrypted data and using the raw calculation power to run differential analyses to find patterns in certain situations and create alert systems. The second is to be able to intercept any non-encrypted information with basically "a word."
boor is right, the only way it can be completely controlled is if all nations do so, worldwide peer to peer
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I find it hard to imagine how the same government that can't even do a simple budget is going to take on the world bitcoin economy.
Exactly this!Oh how I wish I was an conspiracy theorist. Those people are capable of believing that some highly organized structures lead by highly intelligent and responsible leaders can actually exist... and remain secret.
Just look at the stories from cold war, or check out details of any historical military operation. All one big unorganized mess.
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It would be far cheaper for them to just buy up all the available bitcoins and then hoard them
Yes, please. Do it! I love this kind of attack 
So practically you are saying their value will be so high that they would be worthless?
If they got all of them then there's nothing left to trade, they'd only be trading with themselves then. If they only got half then the remainder would shoot up in value
Of course the most important lesson to take from this is that I probably haven't got a clue what I'm talking about, lol
If the goverment wanted to destroy Bitcoin, it could easily point supercomputers at the block chain and just mine empty transaction blocks. One government computer could go 99% on the network and destroy the coin instantaneously. Such a thing would be trivial if the government has as much money/power as conspiracy theorists think it does.
Fortunately this is not accurate. The bitcoin network is much more powerful than any super computer.
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I find it hard to imagine how the same government that can't even do a simple budget is going to take on the world bitcoin economy.
Exactly this!Oh how I wish I was an conspiracy theorist. Those people are capable of believing that some highly organized structures lead by highly intelligent and responsible leaders can actually exist... and remain secret.
Just look at the stories from cold war, or check out details of any historical military operation. All one big unorganized mess.
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It would be far cheaper for them to just buy up all the available bitcoins and then hoard them
Yes, please. Do it! I love this kind of attack So practically you are saying their value will be so high that they would be worthless?
It would be far cheaper for them to just buy up all the available bitcoins and then hoard them, than to try to destroy the system with massively expensive and non-existent technologies. With no bitcoins ever available they'd soon become useless because that would kill off the trading, hence their value. Of course though if that didn't go to plan and it made them more valuable then they'd have earned a huge pile of cash anyway, so that wouldn't be a problem for them either. Anyway, this would be futile because BTC isn't the only cryptocurrency out there, everyone would just move to another.
Obama like Pot 
I find it hard to imagine how the same government that can't even do a simple budget is going to take on the world bitcoin economy.
I got some news that...
OBAMA himself is building a mining rig with 1 Mh/s
he is now in this forum asking how to setup linux to mine with cgminer...
OBAMA himself is building a mining rig with 1 Mh/s
he is now in this forum asking how to setup linux to mine with cgminer...
Once botcoin gains credibility, al will fall into place. it is a commodity just like all the rest and will traded as such. They just need to get teh institutions to help reaighn in the laundering.
The government is an all powerful super entity capable of unimaginable feats, but I totally have all of their plans figured out by using Google.
There are secret bases no one knows about where black projects take place. The projects are highly covert and deal with exotic/advanced technology.
You're a nutter. 
Disregarding for now how impractical this would be and other such flaws, where is your evidence that this is happening?
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