Legalizing Bitcoin - page 4. | Bitcointalksearch.org

s31joemhar

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Quote from: richfund_Pe on November 24, 2017, 04:44:13 PM

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

I don't think so the government will getting afraid of legalizing the bitcoin in their local or states.
Bitcoin is not dangerous at all, infact they help to establish a well-organized society for everbody wherein all of us we will benefited from this. Bitcoin is such a wonderful blessing came from God that we should be thankful off.

Virtual miner

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Quote from: richfund_Pe on November 24, 2017, 04:44:13 PM

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

There are two reasons to it. First is surely the one you have said that keeping track of money in circulation and money laundered will be almost impossible people will evade taxes by a large degree. Second reason is that widespread adoption of bitcoin will act like an axe on their foot. I mean their policies will end up as a waste if people begin to use other currencies which is what makes them reluctant of making such things illegal.

Shamburis

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Quote from: richfund_Pe on November 24, 2017, 04:44:13 PM

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

it is well and done now that bitcoin have been legalize, and many of us is using bitcoin now, because bitcoin is the easiest way to transfer paying bills through online, and bitcoin also is the easiest way to become a rich person saying truthfully, so come and join.

Rooster101

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Quote from: richfund_Pe on November 24, 2017, 04:44:13 PM

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

There are many opinions and reasons why government is afraid of legalizing bitcoin or are they really afraid? Government control the currency, they intentionally increase or restrict the amount of money that circulating in the country to spur investment and spending, generate jobs and others methods that help the economy. Since the bitcoin is decentralized, the government sees no benefits in fully legalizing the use of bitcoin as an alternative currency because it value is determined by the users and not by central bank. Here in my country bitcoin exchanges are regulated by the government but there is still no law legalizing bitcoin but they are not restricting the use of it in online transactions.

Habakkuk77

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Governments are afraid of legalizing because they might afraid that it would dominate their currency and for there protectionism they not are not allowing it and some governments have banned it. Bitcoin also can be used for illegal activities and transactions that is why they are afraid of legalizing it. And it is very hard for them to regulate this kind of currency.

Nahl

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bitcoin users can control their own wallet and their bitcoin without anybody know their real asset in bitcoin and most people like bitcoin because use bitcoin is anonymous although not fully anonymous but people can avoid tax evasion with buy bitcoin so the government does not liked it and apparently they will never serious to legalizing bitcoin and always be figure out the way to ban cryptocurrencies because they cannot control them

Gargo

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For a government, it isn't profitable to legalize bitcoins. They don't have control over cryptocurrencies and don't earn money on them. Rather, they will try to ban bitcoin or make it difficult to use.

btc-facebook

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Quote from: Lancusters on January 14, 2018, 11:21:23 AM

Cryptocurrency circulation is very small in the scale of a country. Even if the users of bitcoin will not pay taxes at all it will not affect the state budget. I think the government is afraid of free and independent people. Such people are difficult to manipulate. Probably this is the main reason of the reluctance of governments of all countries to legalize cryptocurrency.

My government decide to ban bitcoin because it can be use for terorism funding,etc
It's reasonable since they want to protect us from bad things but in other side , bitcoin become the new way for transaction especially on this digital era where everything go with digital so there are significant demand for digital currency , nowdays !

Lancusters

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Cryptocurrency circulation is very small in the scale of a country. Even if the users of bitcoin will not pay taxes at all it will not affect the state budget. I think the government is afraid of free and independent people. Such people are difficult to manipulate. Probably this is the main reason of the reluctance of governments of all countries to legalize cryptocurrency.

kimochidesh

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Quote from: richfund_Pe on November 24, 2017, 04:44:13 PM

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

Very True...Govt haven't found any appropriate solution to regulate BTC. Because govt can't really control it or regulate it they don't want to make it legal. Bitcoin if not regulated can be used for the illegal transaction, money laundering and even tax evasion which may cause a remarkable loss to a NATION socially as well as financially.

Rajamuda

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In essence I think that some of the governments from each countries that are still unfamiliar with a crypto currency and hasn't deepened it.. certainly would still feel the worries will be bad impacts on the country and others impacts that will be caused from using or all activities that related to crypto currency especially bitcoin.
If the country's government has indeed succeed to delve deeper or examine in more detail everything that's related to crypto currency including blockchain's technology, I'm sure.. the government would have had an effort to regulating it and maybe even it will be have a good impact on the country and its citizen.

katinko

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Quote from: dokie987 on January 14, 2018, 03:02:38 AM

Quote from: richfund_Pe on November 24, 2017, 04:44:13 PM

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

I guess the govenrment are afraid in legalizing the bitcoin because it can be use in some illegal transaction without trace.

That is not a point here, even fiat can used in illegal transaction.
I think because they do not controll the flow of digital currency which is all people can access and have this currency just having internet and gadgets.
However, government will find a way to make crypto currency will be under their rules. Not today but in the future.

dokie987

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Quote from: richfund_Pe on November 24, 2017, 04:44:13 PM

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

I guess the govenrment are afraid in legalizing the bitcoin because it can be use in some illegal transaction without trace.

mengpujiu93388

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In government, no one has new ideas. They are the protectors of the existing clan system. They're doing fine. They don't want to change anything.

Bessta

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If legalizing would mean control by the goverment it also means protection to bitcoin users, i guess it would be good to both goverment and bitcoin users as well as the economy.

marcbitcoins

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Quote from: richfund_Pe on November 24, 2017, 04:44:13 PM

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

The simplest way for the government to declared bitcoin as legal to use is thru regulations in which they could monitor the accounts, transactions and bitcoin earnings of the individual in which they could impose to collect tax as part of income tax. It is not difficult to regulate bitcoin in every country because the government has every right to create and mandate a law in which it is hard for a certain individual to against it except if it is unconstitutional.

pandukelana2712

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Quote from: deppil on December 30, 2017, 02:26:54 AM

perhaps in the future the government will find a way to be able to provide taxes, the government will not control the bitcoin because it is impossible because the bitcoin is decentralized. the government will give control to bitcoin users, maybe every user is required to have an account such as bitcoin bank or local exchange that requires data verification, where they have a complete system about the amount of bitcoins that owned by them so that the government can ask tax to bitcoin users, I think from that the government can provide legalization of bitcoin

Yes....you're right.
Government can't control the bitcoin. But the government can control regulation the industry and user who used bitcoin currency in their country.
They can protect the citizens from negative effect by bitcoin users who can damage their natonality economic system, and addtionally government must give learn to their citizens about how to use cryptocurrency and how to invest it in profitable zone, it is will be new national capital income in their country.

deppil

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Quote from: wisdomcn on December 21, 2017, 07:52:19 AM

Well government knows that it won't be easy for them to regulate bitcoin use, because of it's anonymous nature. Also the risk involve in handling bitcoin and monitoring transaction through bitcoin user is difficult to handle. It will be hard for government to officially legalize bitcoin.

perhaps in the future the government will find a way to be able to provide taxes, the government will not control the bitcoin because it is impossible because the bitcoin is decentralized. the government will give control to bitcoin users, maybe every user is required to have an account such as bitcoin bank or local exchange that requires data verification, where they have a complete system about the amount of bitcoins that owned by them so that the government can ask tax to bitcoin users, I think from that the government can provide legalization of bitcoin

Sarastiche

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BITCOIN IS THE CURRENCY OF THE GLOBE

Indirect tax can be acrue from Governement when they legalize bitcoin but globally Government are skeptical as they cannot have access to the financial worth of it citizen holding Bitcoin,except they convert to fiat and they transact with bank.Hopefully in the near future some change will occur that will force government at all level to legalize BTC

UglyMirror

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Only few goverment banned bitcoin, other rathered to make takes over it.

Topic: Legalizing Bitcoin - page 4. (Read 1953 times)