Topic: Law To Declare Bitcoin Ownership - page 3. (Read 3346 times)
If in my country the government will passed a law about cryptocurrency and declarations of income, earnings or holding bitcoin. I will abide by it, for we must be a law abiding citizen and I think that is for our own good and for our countries economic development. But i hope it will only covered members who having huge amount of bitcoin in they're wallet. Example: 5 btc and up. And should have fair tax value for the users to breath from high transactions fees.
In order to force citizens to declare their stocks of the bitcoin government needs to accept its currency. Then the question will be a formal exchange and turnover. Governments are afraid of it as fire so do not hurry with the recognition. They are fully willing to endure the losses from the shortfall in taxes, but would not accept bitcoins.
I'm sure this will happen someday in several countries.
In many countries already, citizens must declare foreign bank accounts, so you may see BTC wallets as something quite similar.
In many countries already, citizens must declare foreign bank accounts, so you may see BTC wallets as something quite similar.
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why we need law to declare bitcoin ownership? do you want to reveal to other people how much bitcoin you have in your wallet? i don't think that is a good idea because the essence of bitcoin is freedom for every people as far i know. but if it for just controlling bitcoin which on the market, then its should not be a good idea too. i think it is up to them will decide they want to declare or not, because i think it is our privacy, for us and only us that will know how much our bitcoin.
in my country there is no regulation at all about the law that regulates bitcoin but my country does not forbid to use bitcoin, even in my country there is a bitcoin law rule I will obey the rules in my country because I live in a country that has a law laws and regulations.
law to declare bitcoin ownership? oh hey, sorry gov't, i lost it all in a boating accident, all gone now
Is it necessary?, a question that is debatable and needs more clarification before any move on doing this move. If it happens and I have huge amount of bitcoin in me, I will declare it to government but in a contract/law that this property once being stolen will be refunded by government. I don't think most of bictoin users will follow this kind of policy. We all know that government official will only care for profits than service. It will be hard for us to get those papers on holding bitcoin.
Its very tricky and debatable indeed. If government will try to go and have us declare our bitcoin then we lost everything that what has been started, decentralized and pseudo- anonymous. I'm not saying its a hidden wealth or something that is dirty that's why we are all hiding it from the prying eyes of the government agencies, but bitcoin has something to do with us being our banks, without the reach of the banking system. I don't know, maybe I haven't look at it really so maybe when the time comes we can all debate about it in depth.
Those "Corrupt officials" is the problem, they were manipulated by greedy banking officials who only want to monopolize the entire financial system that a country could have. I don't think this is a hidden wealth when they don't even recognizing it. It is absurb to just trust the government except for the clean one Japan example. But in other government are full of fake public servants.
Well, this is against the essentials of bitcoin. Bitcoin is built on decentralized freedom architecture. So declaring what you have as crypto currency would be so absurd to its own manifesto and it wouldn't work.
Is it necessary?, a question that is debatable and needs more clarification before any move on doing this move. If it happens and I have huge amount of bitcoin in me, I will declare it to government but in a contract/law that this property once being stolen will be refunded by government. I don't think most of bictoin users will follow this kind of policy. We all know that government official will only care for profits than service. It will be hard for us to get those papers on holding bitcoin.
Its very tricky and debatable indeed. If government will try to go and have us declare our bitcoin then we lost everything that what has been started, decentralized and pseudo- anonymous. I'm not saying its a hidden wealth or something that is dirty that's why we are all hiding it from the prying eyes of the government agencies, but bitcoin has something to do with us being our banks, without the reach of the banking system. I don't know, maybe I haven't look at it really so maybe when the time comes we can all debate about it in depth.
Is it necessary?, a question that is debatable and needs more clarification before any move on doing this move. If it happens and I have huge amount of bitcoin in me, I will declare it to government but in a contract/law that this property once being stolen will be refunded by government. I don't think most of bictoin users will follow this kind of policy. We all know that government official will only care for profits than service. It will be hard for us to get those papers on holding bitcoin.
I am not sure if your country is having a law requiring all citizens to declare Bitcoin ownership...maybe there is still no such a law yet but what if there is...would you follow that law and be open about your engagement with cryptocurrency or would you choose to just ignore thinking that anyway the government can have a hard time detecting your involvement with it?
In the next few years and as Bitcoin (and cryptocurrency in general) would be more and more popular, there would be more clashes on many pivotal issues regarding laws and regulations focused on Bitcoin. What we are witnessing this year is just an introductory phase on many things to come...so brace yourself and be prepared for the ride of your life.
Welcome to the Bitcoin generation...where all sides are on edges!
In the next few years and as Bitcoin (and cryptocurrency in general) would be more and more popular, there would be more clashes on many pivotal issues regarding laws and regulations focused on Bitcoin. What we are witnessing this year is just an introductory phase on many things to come...so brace yourself and be prepared for the ride of your life.
Welcome to the Bitcoin generation...where all sides are on edges!
I don't think that such a law will ever come in to existence. It can be a breach of individual privacy and citizens can challenge it in the courts. There are multiple risk factors associated with such a law. For example, if the hackers identify the big holders, they can launch spear-phishing and other tactics to steal the coins. Also, the organized crime syndicates and mafia groups can target these top holders, through kidnapping for ransom or other criminal activities.
on the other hand, it is common for a government to have citizens report large stores of wealth, for the sake of national security. this is the essence of AML/KYc law; individual privacy (as it often does) loses out to the selective security. we cant have terrorists funding massive terror campaigns right under our noses just because we turned a willing blind eye; and the same hand, not scrutinizing in this way could facilitate pornographers and criminals, undermining the rule of law. im all for personal freedoms and protections, but when it comes to money, it always gets much better with transparency.
I am not sure if your country is having a law requiring all citizens to declare Bitcoin ownership...maybe there is still no such a law yet but what if there is...would you follow that law and be open about your engagement with cryptocurrency or would you choose to just ignore thinking that anyway the government can have a hard time detecting your involvement with it?
In the next few years and as Bitcoin (and cryptocurrency in general) would be more and more popular, there would be more clashes on many pivotal issues regarding laws and regulations focused on Bitcoin. What we are witnessing this year is just an introductory phase on many things to come...so brace yourself and be prepared for the ride of your life.
Welcome to the Bitcoin generation...where all sides are on edges!
In the next few years and as Bitcoin (and cryptocurrency in general) would be more and more popular, there would be more clashes on many pivotal issues regarding laws and regulations focused on Bitcoin. What we are witnessing this year is just an introductory phase on many things to come...so brace yourself and be prepared for the ride of your life.
Welcome to the Bitcoin generation...where all sides are on edges!
I don't think that such a law will ever come in to existence. It can be a breach of individual privacy and citizens can challenge it in the courts. There are multiple risk factors associated with such a law. For example, if the hackers identify the big holders, they can launch spear-phishing and other tactics to steal the coins. Also, the organized crime syndicates and mafia groups can target these top holders, through kidnapping for ransom or other criminal activities.
There's no such law in the EU, but if there was I'd outright ignore it. What's the difference between them wanting me to declare my BTC and them wanting to read my emails, know what i'm eating for lunch and what arouses me in bed?
I was asked once by a friend what I'd do if I had any superpowers and my answer was: hide. If you share anything with the government they'll find a way to fuck you in the ass. If you had any powers and let them know the next day you'd find yourself locked up, or worse, on an operating table.
I was asked once by a friend what I'd do if I had any superpowers and my answer was: hide. If you share anything with the government they'll find a way to fuck you in the ass. If you had any powers and let them know the next day you'd find yourself locked up, or worse, on an operating table.
I am not sure if your country is having a law requiring all citizens to declare Bitcoin ownership...maybe there is still no such a law yet but what if there is...would you follow that law and be open about your engagement with cryptocurrency or would you choose to just ignore thinking that anyway the government can have a hard time detecting your involvement with it?
In the next few years and as Bitcoin (and cryptocurrency in general) would be more and more popular, there would be more clashes on many pivotal issues regarding laws and regulations focused on Bitcoin. What we are witnessing this year is just an introductory phase on many things to come...so brace yourself and be prepared for the ride of your life.
Welcome to the Bitcoin generation...where all sides are on edges!
If this thing would happen declaring would depend on the person if his willing or not because anytime we can really hide ourselves on those regulations.Without the need on declaring your holdings but on some people if the law imposing a high punishment on this thing then most people will really be afraid and might really declare on what would they hold but for those who are confident enough that no one can trace them would really remain in the shadows without being detected. In the next few years and as Bitcoin (and cryptocurrency in general) would be more and more popular, there would be more clashes on many pivotal issues regarding laws and regulations focused on Bitcoin. What we are witnessing this year is just an introductory phase on many things to come...so brace yourself and be prepared for the ride of your life.
Welcome to the Bitcoin generation...where all sides are on edges!
Didn't read the part about title? 
http://trilema.com/2014/guidance-there-is-no-such-thing-as-bitcoin-taint/
there is no taint or title in bitcoin
there is no taint or title in bitcoin
The question of whether Bitcoin is tainted is different from whether Bitcoin is unaccounted for. The government may be hard pressed to prove that you got your money through illegal means, but they may still be able to nail you for tax evasion. One famous example is the drug lord Al Capone. The Feds couldn't nail him on drug trafficking charges, but they were able to show that he didn't pay taxes.
I hope the day never comes where I have to declare everything....
Nothing really going on in the US tbh. Well, unless you cash out. But even then it would be weird to put a title on Bitcoin as if it were a car or house...
http://trilema.com/2014/guidance-there-is-no-such-thing-as-bitcoin-taint/
there is no taint or title in bitcoin
there is no taint or title in bitcoin
I will never come to a point where I as an empty headed chicken declare my holdings to the government. It's not for nothing that I am in Bitcoin ~ I like how Bitcoin allows me to cut all ties with governments and banks.
If exchanges at some point need to abide by certain regulations that makes them report all user funds to their respective governments, I would immediately stop using that exchange, and focus on P2P trading.
I am definitely afraid that this day is coming closer and closer. Governments thrive on control, and this is somewhat of a logical step to take for them considering that people themselves won't likely declare their holdings.
If exchanges at some point need to abide by certain regulations that makes them report all user funds to their respective governments, I would immediately stop using that exchange, and focus on P2P trading.
I am definitely afraid that this day is coming closer and closer. Governments thrive on control, and this is somewhat of a logical step to take for them considering that people themselves won't likely declare their holdings.
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