How are we going to save bitcoin & crypto trading from governing institutions

mast3rm1nd

full member

Activity: 322

Merit: 100

Quote from: Red-Apple on October 15, 2017, 09:33:21 AM

pay your taxes!

every time the government voices any concerns regarding cryptocurrencies and trading, the major one is always taxes and how they have had trouble taking taxes from people making profit from trading them.
pay your taxes and the government's mind will be at ease and there won't be any risk anymore!!!

while I completely agree that paying taxes should prompt government to shut the f*** up about crypto; I don't think it will take only that to be on the clear, there is still the concern of money laundering and being unable to monitor transactions to criminal organizations.

Emoclaw

sr. member

Activity: 420

Merit: 251

Quote from: Sivanandam on October 14, 2017, 09:20:30 AM

Though i approve of the positive growth and excitement around bitcoin and other crypto currency by the beautiful community, there is mild concern regarding the future growth and the approval from governing heads to keep it sustainable. This fear is still alive even if you dismiss it for now.

We need mass approval to keep this engagement sustaining. How are we going to do it.

Do we have any guidelines or suggesions to avoid this uncertainity

Jut wanted to hear positive words from you people.

Governments will have to accept it. There's nothing they can do to stop Bitcoin. It's technically impossible without completely stopping the internet.
Their disapproval means nothing. They can ban exchanges, punish people if found to be using it but not really, because it's not easy at all.
What we can do is to keep using it.

paul00

sr. member

Activity: 854

Merit: 257

Quote from: jseverson on October 15, 2017, 08:40:46 AM

There's really not much we can do other than to voice our support towards it. This could at least put pressure on our respective governments to take a favorable stand towards cryptocurrencies. Governments taking a favorable stand towards cryptocurrencies could also soften its citizens' stance towards it, inching us towards mass adoption. Taxing would be inevitable, though, so I would just look at that as a trade off. Other than that, I think we should just let things run their course.

It's worth noting though, that general outlook seems positive. A few countries haven't been kind, but most seem to accept the rise of cryptocurrencies and are leaning towards riding the wave.

I agree with it that we can't do so much about it especially the owner of the website agreed to have it supervised by the government. However if we don't really want it and this would happen we can at least have are online complaints at first so that they may get our opinion on this matter. We can also give some time if this will happen, who knows there might be a good thing to happen out of it.

Opquar

sr. member

Activity: 385

Merit: 250

Quote from: Red-Apple on October 15, 2017, 09:33:21 AM

pay your taxes!

every time the government voices any concerns regarding cryptocurrencies and trading, the major one is always taxes and how they have had trouble taking taxes from people making profit from trading them.
pay your taxes and the government's mind will be at ease and there won't be any risk anymore!!!

Lol I honestly think this is the best solution. It will keep them happy, and they would be incentivized to let you keep using Bitcoin. Money talks!

avikz

legendary

Activity: 3080

Merit: 1500

Quote from: Sivanandam on October 14, 2017, 09:20:30 AM

Though i approve of the positive growth and excitement around bitcoin and other crypto currency by the beautiful community, there is mild concern regarding the future growth and the approval from governing heads to keep it sustainable. This fear is still alive even if you dismiss it for now.

We need mass approval to keep this engagement sustaining. How are we going to do it.

Do we have any guidelines or suggesions to avoid this uncertainity

Jut wanted to hear positive words from you people.

It's true that uncertainty is still there in the market, but amidst this uncertainty, the growth of bitcoin's market cap and price has been phenomenon and going strong till date. I don't think any government will have the power to ban bitcoin entirely because there are many positive changes that has come with bitcoin. A lot of people have found an alternate profession with bitcoin and they are not looking for jobs outside. That number is huge and every government must factor in that number before taking any drastic step against bitcoin. Banning bitcoin will only add to the present unemployment situation and worsen it. I don't think any government will take such risk.

Instead if governments start legalizing bitcoin and related business in their country, its revenue will grow. I believe bitcoin community will not mind paying a little tax on their earning if the government legalize it. IT will be a win win situation for both. I have already started adding the income from bitcoin in my tax filing since last three years just to be on the safer side.

Red-Apple

hero member

Activity: 1470

Merit: 655

pay your taxes!

every time the government voices any concerns regarding cryptocurrencies and trading, the major one is always taxes and how they have had trouble taking taxes from people making profit from trading them.
pay your taxes and the government's mind will be at ease and there won't be any risk anymore!!!

jseverson

hero member

Activity: 1834

Merit: 759

There's really not much we can do other than to voice our support towards it. This could at least put pressure on our respective governments to take a favorable stand towards cryptocurrencies. Governments taking a favorable stand towards cryptocurrencies could also soften its citizens' stance towards it, inching us towards mass adoption. Taxing would be inevitable, though, so I would just look at that as a trade off. Other than that, I think we should just let things run their course.

It's worth noting though, that general outlook seems positive. A few countries haven't been kind, but most seem to accept the rise of cryptocurrencies and are leaning towards riding the wave.

OmegaStarScream

staff

Activity: 3500

Merit: 6152

I guess everyone agrees that bitcoin cannot be banned (unless your shutdown the internet). As long as the network and some services/exchange remain decentralized, there is nothing to fear. Now for having mass adoption then we're getting there, maybe slowly but that's not a problem. Services are actively accepting bitcoin, new ATMs being setup all over the world etc. At this point, we need Lightning network so restaurants and the kind of services where waiting for confirmations is not an option could implement bitcoin without issues.

Sivanandam

newbie

Activity: 39

Merit: 0

Though i approve of the positive growth and excitement around bitcoin and other crypto currency by the beautiful community, there is mild concern regarding the future growth and the approval from governing heads to keep it sustainable. This fear is still alive even if you dismiss it for now.

We need mass approval to keep this engagement sustaining. How are we going to do it.

Do we have any guidelines or suggesions to avoid this uncertainity

Jut wanted to hear positive words from you people.

Topic: How are we going to save bitcoin & crypto trading from governing institutions (Read 221 times)