How to make governments accept bitcoin? - page 5.

kikeda

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Quote from: klf on May 03, 2017, 01:34:49 PM

Quote from: Format.C^ on May 03, 2017, 01:22:54 PM

Quote from: South Park on May 03, 2017, 01:20:56 PM

Quote from: severaldetails on May 02, 2017, 03:55:03 AM

I think what governments like best are taxes.
So if bitcoins are handled correctly, without any illegal activities and everybody pays their taxes on them, then I am sure that no government would have something against the use of a cryptocurrency.
Unfortunatelly sometimes someof the things I mentioned are not fulfilled completely by a few users.
That one reason why governments are suspiciously against cryptocurrencies.

In my opinion that is just an excuse used by the governments to try to destroy bitcoin, they are going to say that bitcoin will never be able to comply with their guidelines and as such they will never accept it and I think governments will go as far as creating their own coin to try to rival bitcoin.

Yes that is a possibility that government will create their own coin on which they can have total control like fiat money and which can give tough competition to bitcoin in future and if it will hold good features then people will surely switch to that coin.

I don't think it is possible because already many country govt is thinking to accept this Bitcoin as a legal currency. And recently also one country agreed with this Bitcoin. So slowly one by one country may accept this Bitcoin. This is also possible am I right. We should think about both positive and negative. But I think the govt will not take risks to create a new coin.

So do you really feel that other countries will start following Japan in near future? There is a least possibility that every country will start accepting bitcoins as we cannot forget that many governments are interested only in their own benefits.

klf

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Quote from: Format.C^ on May 03, 2017, 01:22:54 PM

Quote from: South Park on May 03, 2017, 01:20:56 PM

Quote from: severaldetails on May 02, 2017, 03:55:03 AM

I think what governments like best are taxes.
So if bitcoins are handled correctly, without any illegal activities and everybody pays their taxes on them, then I am sure that no government would have something against the use of a cryptocurrency.
Unfortunatelly sometimes someof the things I mentioned are not fulfilled completely by a few users.
That one reason why governments are suspiciously against cryptocurrencies.

In my opinion that is just an excuse used by the governments to try to destroy bitcoin, they are going to say that bitcoin will never be able to comply with their guidelines and as such they will never accept it and I think governments will go as far as creating their own coin to try to rival bitcoin.

Yes that is a possibility that government will create their own coin on which they can have total control like fiat money and which can give tough competition to bitcoin in future and if it will hold good features then people will surely switch to that coin.

I don't think it is possible because already many country govt is thinking to accept this Bitcoin as a legal currency. And recently also one country agreed with this Bitcoin. So slowly one by one country may accept this Bitcoin. This is also possible am I right. We should think about both positive and negative. But I think the govt will not take risks to create a new coin.

Format.C^

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Quote from: South Park on May 03, 2017, 01:20:56 PM

Quote from: severaldetails on May 02, 2017, 03:55:03 AM

I think what governments like best are taxes.
So if bitcoins are handled correctly, without any illegal activities and everybody pays their taxes on them, then I am sure that no government would have something against the use of a cryptocurrency.
Unfortunatelly sometimes someof the things I mentioned are not fulfilled completely by a few users.
That one reason why governments are suspiciously against cryptocurrencies.

In my opinion that is just an excuse used by the governments to try to destroy bitcoin, they are going to say that bitcoin will never be able to comply with their guidelines and as such they will never accept it and I think governments will go as far as creating their own coin to try to rival bitcoin.

Yes that is a possibility that government will create their own coin on which they can have total control like fiat money and which can give tough competition to bitcoin in future and if it will hold good features then people will surely switch to that coin.

South Park

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Quote from: severaldetails on May 02, 2017, 03:55:03 AM

I think what governments like best are taxes.
So if bitcoins are handled correctly, without any illegal activities and everybody pays their taxes on them, then I am sure that no government would have something against the use of a cryptocurrency.
Unfortunatelly sometimes someof the things I mentioned are not fulfilled completely by a few users.
That one reason why governments are suspiciously against cryptocurrencies.

In my opinion that is just an excuse used by the governments to try to destroy bitcoin, they are going to say that bitcoin will never be able to comply with their guidelines and as such they will never accept it and I think governments will go as far as creating their own coin to try to rival bitcoin.

panganib999

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Quote from: Henkkaa on February 02, 2017, 05:56:26 AM

Quote from: mobnepal on February 02, 2017, 05:44:54 AM

Quote from: Bit2Easy on February 02, 2017, 05:40:06 AM

What is there, other than anonymity, thats making governments fear bitcoin and cryptocurrencies?

Anonymity is the biggest hurdle for bitcoin to get accepted by governments/banks because they can't implement taxation as well as they can't track source of bitcoin. However anonymity is also the main feature due to which many users love to store in bitcoin and use it whenever they like.

Governments/banks may never accept direct bitcoin payments, but they may implement strict rules/regulation and high fees on local bitcoin trading platform. And as recent coinbase and PBOC investigation have shown that governments are now looking to get detail about every bitcoin traders who are actively trading bitcoin so that they can put tax on their earnings as well as limit money laundering.

I think this is a very good point, but also being the fact that governments can't control bitcoin. Bitcoin network is out of their reach. They cant freeze funds, ban accounts. Doing something that would allow government to track funds and handle taxation, would pretty much destroy bitcoin, since it woulf defeat it's purpose as a decentralized and anonymous currency, what I consider perfect currency. Simply because it stops government from controlling everything and spying on anyone they want, make it better than fiat in the eyes of many users.

Yes you are actually right. Government does not have the power to manipulate and control bitcoin even to simply know each transaction. O if the government will going to accept bitcoin it means the legal matters will be going to happen. Where rules and regulation will be done to bitcoin inorder for government to control it. Actually we really don't need to do anything for the government to like bitcoin at all. Because as they will have the opportunity to know bitcoin on a wider scale there is no doubt that they will accept it on a great investment far ahead on it.

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Quote from: Fatanut on May 02, 2017, 06:38:01 PM

Quote from: aTriz on May 02, 2017, 11:05:38 AM

In my opinion this is a very hard question, and also the answer is not the same in every case. It is dependant on the place where the person answering lives.
For example, in US we already see some kind of bitcoin regulations.
You need to pay a tax from BTC income, so you need to declare that. If you won't do this and the IRS will find out, the law enforcement will get you for abusing the tax law.
But in a different country where bitcoin is not so popular, there are no regulations so you can simply earn the money through cryptocurrencies, and withdraw it by your bank account without any issues.

I don't know, man. If someone's earning good money from his online job or online business and he gets paid through Paypal, does he have to get taxed or can he withdraw it right away from the bank? I think the latter is the case. The only difference bitcoin has is that it's an unregulated currency. Maybe just sell your bitcoins to other guys with cash and do not exchange your bitcoin to digital fiat first and then withdraw them through the banks.

The only way the government can trace your transactions is through your bank account and if the money didn't went through there, then they will have no record of your money. They will not know that you've been earning good money, unless of course you publicize your expensive purchases and someone gets suspicious enough to hire an investigator.

If you are dumb enough to show off to public regarding on your extravagant lifestyle then someone would really be curious on where those money came from.You are right as long we dont use banks a a medium on our transactions specially on money matters then they cant easily detect us regarding on our activity thats why theres bitcoin a good way on executing these habits or transactions without being traced thats why government doesnt really like it at all.

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Quote from: Fatanut on May 02, 2017, 06:38:01 PM

Quote from: aTriz on May 02, 2017, 11:05:38 AM

In my opinion this is a very hard question, and also the answer is not the same in every case. It is dependant on the place where the person answering lives.
For example, in US we already see some kind of bitcoin regulations.
You need to pay a tax from BTC income, so you need to declare that. If you won't do this and the IRS will find out, the law enforcement will get you for abusing the tax law.
But in a different country where bitcoin is not so popular, there are no regulations so you can simply earn the money through cryptocurrencies, and withdraw it by your bank account without any issues.

I don't know, man. If someone's earning good money from his online job or online business and he gets paid through Paypal, does he have to get taxed or can he withdraw it right away from the bank? I think the latter is the case. The only difference bitcoin has is that it's an unregulated currency. Maybe just sell your bitcoins to other guys with cash and do not exchange your bitcoin to digital fiat first and then withdraw them through the banks.

The only way the government can trace your transactions is through your bank account and if the money didn't went through there, then they will have no record of your money. They will not know that you've been earning good money, unless of course you publicize your expensive purchases and someone gets suspicious enough to hire an investigator.

1) If you get payed via Paypal money are entering your bank account, sum date sender.
Normally you will have to declare that income. It's pretty easy for the guys at the tax department to trace your payments and how much you've made.

2) Withdrawing bitcoins via banks it's the same. It's damn easy to trace.

Going for local bitcoins... well, do you really want to risk cash transactions and a 5-10% percent fee compared to normal exchangers?
It totally offsets the purpose of hiding your earning.

Fatanut

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Quote from: aTriz on May 02, 2017, 11:05:38 AM

In my opinion this is a very hard question, and also the answer is not the same in every case. It is dependant on the place where the person answering lives.
For example, in US we already see some kind of bitcoin regulations.
You need to pay a tax from BTC income, so you need to declare that. If you won't do this and the IRS will find out, the law enforcement will get you for abusing the tax law.
But in a different country where bitcoin is not so popular, there are no regulations so you can simply earn the money through cryptocurrencies, and withdraw it by your bank account without any issues.

I don't know, man. If someone's earning good money from his online job or online business and he gets paid through Paypal, does he have to get taxed or can he withdraw it right away from the bank? I think the latter is the case. The only difference bitcoin has is that it's an unregulated currency. Maybe just sell your bitcoins to other guys with cash and do not exchange your bitcoin to digital fiat first and then withdraw them through the banks.

The only way the government can trace your transactions is through your bank account and if the money didn't went through there, then they will have no record of your money. They will not know that you've been earning good money, unless of course you publicize your expensive purchases and someone gets suspicious enough to hire an investigator.

ice098

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yes its true, if they know how to use it, they would allow it, of they are earning thru it they will allow is, to be short they need to spend and use it too in order for them to pass the law and make an order that bitcoin will need to be legalize as one of the currency, education is the key.

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In my opinion this is a very hard question, and also the answer is not the same in every case. It is dependant on the place where the person answering lives.
For example, in US we already see some kind of bitcoin regulations.
You need to pay a tax from BTC income, so you need to declare that. If you won't do this and the IRS will find out, the law enforcement will get you for abusing the tax law.
But in a different country where bitcoin is not so popular, there are no regulations so you can simply earn the money through cryptocurrencies, and withdraw it by your bank account without any issues.

witsie

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yeah .. we have internet wich is making us over the country though the internet providers are still on national basis, predominately,
government can control that what is in their reach, but people always look for freedom in liberty and self-regulate common interests
we enter again in hazy area where we have to disambiguate what is people and what is society ....... balkan wars had similar cause
mainly, they simply couldn's disambiguate what is nation and what is people, frankly i am still thinking how to explain difference between people and society .... let us think of gdp: when you work in factory you are contributing to gdp of society 70 trillion $ a year ... but when you work in your garden, well you are contributing to the gdp of people which we can presume as to be of the same size: $70T .... so we have 2 gdp.... doubled in one click ...haha .. yes .. if people is almighty god, then society is religion .... nation is tradition ... hah .. what the god will say: "who am i" ... once upon the time the god came to people and said: "hi, folks, are you crazy, i am not existing!" .. haha
but it was almighty god, now we have secular god, haha, who says: " hi, people, i can not walk under a zillion dollars in my portfolio" ... . "i want my highest apartment on the highest building of las vegas" .. lol

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Quote from: FiiNALiZE on May 02, 2017, 09:16:33 AM

Having Bitcoin being used by many of the people within the nation and the whole globe will allow the Government to look at Bitcoin and see that they will either get in on the program or they will get stuck with their old currency.
Bitcoin has the option to get more expensive per coin so there is a chance that an expert Bitcoin trader could make a bunch of Bitcoins and hold them while trying to obtain more coins from every Bitcoin Exchange there is. The Government can't really do anything if majority of the people that have Bitcoin get really rich.

Even if other countries adapted to change in which Cryptocurreny is equal to Fiat currency other countries or their government will have different views on that matter. They will always look at the advantages and disadvantages of the matter and if the cons outweighs the pros than Bitcoin won't be legal to that country. And I would like to correct you about the government being powerless on citizens being rich by Bitcoin, they have the power to ban or impose a tax on Bitcoin which is possible either way you will get caught on your wrongful doings.

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Having Bitcoin being used by many of the people within the nation and the whole globe will allow the Government to look at Bitcoin and see that they will either get in on the program or they will get stuck with their old currency.
Bitcoin has the option to get more expensive per coin so there is a chance that an expert Bitcoin trader could make a bunch of Bitcoins and hold them while trying to obtain more coins from every Bitcoin Exchange there is. The Government can't really do anything if majority of the people that have Bitcoin get really rich.

SingAlong

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Quote from: iqlimasyadiqa on May 02, 2017, 05:48:56 AM

Quote from: BeManga on May 02, 2017, 05:40:49 AM

Quote from: Bit2Easy on February 02, 2017, 05:40:06 AM

I have a question for you. How to make governments accept bitcoin and not see it as a threat? So that one could use bitcoin in daily use, such as paying taxes or grocery shopping. What is there, other than anonymity, thats making governments fear bitcoin and cryptocurrencies?

it will be hard for goverment to accept bitcoin goverment use fiat because they can get taxes
they dont support bitcoin because there are no benefits bitcoin taxes go to miners

I agree with you . Currently bitcoin can not provide tax revenue for the government. Bitcoin does not yet have such rules, but if the government is brave then bitcoin users should wisely report their wealth. Thus we benefit as bitcoin users because of the existence of bitcoin and also the government benefit from getting tax fees.

There are countries who bravely accepts Bitcoi that is Japan and Russia. Though Russia has banned bitcoin and any other cryptocurrencies in their country but they just did a U-turn in their standing so now they see it as a solution to their current crisis they have been facing.

witsie

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sure ... taxes.. tea in the water ... for me and my paradigm of universal divinism was also problem to resolve
but ... it was easy ... as the secular god has zillion, he can pay all taxes for people to get rid of taxes burdens
it is 37% of gdp in average ... a third of gdp .... about 27 trillion dollars a year .... so that btc can also be free from fee
what i'm doing lately is tricking & trolling (provoking) on internet to find solution to avoid excessive inflation that can arise from it
divine universalism will not fight national economies it will just add universal proconomy (divine providence in experience funding)
nationism is traditional & tribal, real & mundane, while universalism is futural and individual, supra-real and divine, btc is between . hah
fiat >crypto< divine, 2000 years ago ppl went to catacombs-crypto, divine failed to appear, mainly because it hadn't internet connection

iqlimasyadiqa

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Quote from: BeManga on May 02, 2017, 05:40:49 AM

Quote from: Bit2Easy on February 02, 2017, 05:40:06 AM

I have a question for you. How to make governments accept bitcoin and not see it as a threat? So that one could use bitcoin in daily use, such as paying taxes or grocery shopping. What is there, other than anonymity, thats making governments fear bitcoin and cryptocurrencies?

it will be hard for goverment to accept bitcoin goverment use fiat because they can get taxes
they dont support bitcoin because there are no benefits bitcoin taxes go to miners

I agree with you . Currently bitcoin can not provide tax revenue for the government. Bitcoin does not yet have such rules, but if the government is brave then bitcoin users should wisely report their wealth. Thus we benefit as bitcoin users because of the existence of bitcoin and also the government benefit from getting tax fees.

BeManga

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Quote from: Bit2Easy on February 02, 2017, 05:40:06 AM

I have a question for you. How to make governments accept bitcoin and not see it as a threat? So that one could use bitcoin in daily use, such as paying taxes or grocery shopping. What is there, other than anonymity, thats making governments fear bitcoin and cryptocurrencies?

it will be hard for goverment to accept bitcoin goverment use fiat because they can get taxes
they dont support bitcoin because there are no benefits bitcoin taxes go to miners

witsie

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my stances on that are from another side .... namely i am in divine universalism ... so i am generating divine money ... but, i remember that before cryptographers have invented btc i was thinking: "maybe the guys from technology will help me as to a presumed secular god zikalkis with some inventions .. and wow ... 5 years ago on a liberalist site i've seen word "bitcoin" ... i googled it and said: wooooow they did it, oh my guard ... ever since then i visited and signed up to all sites that i could reach (over 1000 buxes and clixes, they paid me 6.22 fiat dollars in 2 years of daily clicking) all pokers and miners ... i didn't complain .... first day i entered crypto-fiat online industry i said: uhhh .... they are so perfidious and morbid ....and, it holds water still ....! ... maybe it is main human characteristic ... we are scum on the earth, naturally,.... now, i feel crypto is exploited and enslaved by fiats .... so i had to find solution to deliver them from that slavery .... thus, i invented our divine money .... 1 divine dollar = 1 fiat dolar = 1mb (near) .... now we have all 3 players in the game ... fiats, cryptos and divine ... society, people and god ... nature is the fulcrum on which we all 3 exist ( maybe nature we can consider as gold and diamonds, if we need fourth player ) .... so i enclosed missing parts of that vicious circle .... and we can run forward .... stick to my sites ... i am not lincoln nor washington ... i am not doc holiday nor che guevara ... i am zik zikalkis ...tx
........................... my conclusions i tried to compose and tech me and you ......................
...
technology <<-perfectgoodier>goodiest>divine ->> morality
... profanistsspam>slam>genialists>divinists ....
...

severaldetails

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I think what governments like best are taxes.
So if bitcoins are handled correctly, without any illegal activities and everybody pays their taxes on them, then I am sure that no government would have something against the use of a cryptocurrency.
Unfortunatelly sometimes someof the things I mentioned are not fulfilled completely by a few users.
That one reason why governments are suspiciously against cryptocurrencies.

Dhimas Kanjeng

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Quote from: AUDREY23 on May 01, 2017, 07:15:16 PM

The government in my opinion they will accept bitcoin if this things will become centralized, and transaction will be regulated by the government.

I think to make Governments accept bitcoin is not easy, because of the need to obtain the consent of the other State institutions such as the Senate or upper House.

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