Negotiation with government - page 15.

yurenchuang7125

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Quote from: Ayush rana on March 06, 2018, 11:13:55 AM

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

The issue of money is a special kind of power, usually attributed to central Banks.

There are many advantages to this kind of power, which can be controlled by the monetary system.

Because the four basic core principles of bitcoin (neutrality, openness, trust, decentralization) are not destined to become national fiat currencies.

jundy020

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Government will not make it a legal currency but it will remain running because many people are already into this cryptocurrency thing and the government can't do anything to stop and some other countries already developed and advertising cryptocurrency.

Crypdon

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For people to agree you would need a nationwide referendum and the majority would say no as only a small percentage of the population are into crypto. This will change in the coming years and bitcoin will have to be more widely accepted.

czhen

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For someone to convince the government to legalize bitcoin in a country is difficult.
the first government can not be convinced because he is in full control. Even if people do massive demonstrations the government is not easy to take decisions on the grounds that bitcoin is considered detrimental to local currency that can damage the financial system. For example people prefer to use bitcoin so that cash transactions at local banks will go down. As a result banks can go bankrupt and again money laundering issues.
Of course the government will assess its own advantages and disadvantages.

krishnaverma

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Quote from: Ayush rana on March 06, 2018, 11:13:55 AM

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

Different governments have different reasons for banning bitcoins and it is not only due to tax collection:

1) In my country, government has not made bitcoins legal yet because they consider it as a spam. There had been a lot of similar scams here like chit fund companies and online ponzi schemes that ran away with money of thousands of investors. They do not want to get this repeated.

2) Some of the governments are worried that it might replace their current currency.

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Quote from: gabmen on March 07, 2018, 06:49:06 AM

Quote from: Aryanto28 on March 07, 2018, 05:38:31 AM

Quote from: Ayush rana on March 06, 2018, 11:13:55 AM

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

is it possible that the government wants to negotiate with bitcoins? I think the government still will not legalize bitcoin as currency. because no matter where in a country is already in use the legitimate currency that was in use long ago.

I think it's irrelevant to consider btc as a currency at it's current state. It's more of an asset. And not all governments have the same thought about btc. Those that aren't in favor of it right now like china have reasons beyond taxing it.

Mate, it's already a currency although its not a fiat but a crypto.And I truly agree with your opinion with the governments decisions.
BITCOIN and the other cryptos won't be named as a LEGAL AND ILLEGAL type of currency for which they are in an anonymous transactions. The fact that the fiat transactions are well known to each people whose been using it and making their trades in every way they want then thats the time we can call it legal or either illegal.
Even if there are so many users of crypto around the world we cant still deny that the existence of it will also be gone.

andrei214

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Quote from: Ayush rana on March 06, 2018, 11:13:55 AM

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

Even we talk directly to the president of a country, the decision would not be on his/her own, it must be the whole countries decision.And besides, even if they completely legalize bitcoin but then people didnt fully understand what is bitcoin then it will still be a problem.So it must start in the lower part of the society which is the people going up to the higher part which is the government officials.

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Quote from: Aryanto28 on March 07, 2018, 05:38:31 AM

Quote from: Ayush rana on March 06, 2018, 11:13:55 AM

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

is it possible that the government wants to negotiate with bitcoins? I think the government still will not legalize bitcoin as currency. because no matter where in a country is already in use the legitimate currency that was in use long ago.

I think it's irrelevant to consider btc as a currency at it's current state. It's more of an asset. And not all governments have the same thought about btc. Those that aren't in favor of it right now like china have reasons beyond taxing it.

burnchan

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Quote from: Ayush rana on March 06, 2018, 11:13:55 AM

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

Allowing tax for Bitcoin transaction is not the only way to convince the government to make it as a legal currency. Bitcoin's price should be stable first to have a higher chance of the government's approval. The fluctuation of price would be a difficult for government to project budget allocation. Also, we need to know the actual number of the bitcoin supporters before convincing the government. The bigger the population of Bitcoin users, the higher the chance of convincing the government yet not an assurance. If bitcoin will be adopted by the government, the banks will be in no use. This is an another issue which to be delt by the government before they agree than Bitcoins will be our legal currency.

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Quote from: Ayush rana on March 06, 2018, 11:13:55 AM

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

is it possible that the government wants to negotiate with bitcoins? I think the government still will not legalize bitcoin as currency. because no matter where in a country is already in use the legitimate currency that was in use long ago.

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Quote from: Ayush rana on March 06, 2018, 11:13:55 AM

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

It is already happening. A lot of countries started taxing Bitcoin purchases and capital gains and income in Bitcoins, but also there are notable exceptions going in totally oposite direction, like Germany for instance. Germany declared that Bitcoin purchases will be exempt from VAT.

It is not the same as making it legal currency, but it certainly is only a matter of time and it will start happening too.

f150

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Quote from: Ayush rana on March 06, 2018, 11:13:55 AM

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

In my opinion, the government will not easily accept that person's opinion to legalize bitcoin even though we agree to pay taxes from our bitcoin income, but the government will continue to ban bitcoin because maybe they do not want their paper money replaced if everyone uses bitcoin. because everyone will switch to bitcoins that are very easy to use compared to paper money.

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Quote from: Ayush rana on March 06, 2018, 11:13:55 AM

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

who will represent bitcoin? Since it's p2p and decentralize meaning it has no given body that would represent itself in court.

Bitcoin can be arranged to be legal, but for it to be a country's currency is highly doubtful. A country's monetary value is based on its economical status which is then printed fiat money. By that it would bedifficult to determine economical status by electronic currency.

Notcalculator

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If anyone has to pro actively negotiate with them it's the exchanges. As of now, it's not used as currency therefore exchanges are necessary. They're the first step to adoption and regulation will start with them. They're probably the first few who'll start negotiating with the government. Then, once bitcoin starts getting more popular, other companies would want a slice of it. Then they'll want to be able to accept it as form of payment. That's when regulations will become necessary, as they negotiate how transactions are going to be done. If big companies push for it to become a currency, it will happened.

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Quote from: Ayush rana on March 06, 2018, 11:13:55 AM

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

Here in my country our own digital currency wallet have business with government like they need permit to run here so there's no issue about that negotiation with government actually they help each other company here so i think in the future crypto here will be regulated by government but still it's possibility only because we don't have assurance in anything here in crypto world

Kulafu

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Quote from: Ayush rana on March 06, 2018, 11:13:55 AM

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

The question is how to convince the government? If only minority of the population have a bitcoin it's hard to convince the government to make the btc as a legal currency unless there is a government body that will push it to become a currency.

Arizona already passed the bill to accept the btc as tax payment this one is a good start.

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Quote from: Ayush rana on March 06, 2018, 11:13:55 AM

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

I do not think it's that simple, every country that has declared its ban on bitcoin, must have put it into action and tried to discuss it first before it actually prohibits it. or you try in your own country if bitcoin in your country has been banned.

Nerman

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Quote from: Ayush rana on March 06, 2018, 11:13:55 AM

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

If what you are saying is making it their official currency, I do not think Bitcoin will ever be adapted as the official currency what government most likely do is create their own Crypto currency. If it is just a being a legal currency then yes that is possible as some country already recognize it as a currency. For the taxes some countries are already taxing bitcoin income and I do not think we can debate about it. If they imposed it then you are oblige by law to pay that taxes.

Audistar

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Quote from: kingkats0803 on March 07, 2018, 01:28:02 AM

That is actually a good idea, the problem is, had it been that easy as posting - many would have done it many years ago!
It's not too easy of a task, it is too taxing.
On another note, Philippines have hosted the "Blockchain and Bitcoin Conference" making the Philippines as the first country in Asia to address the growing interest in the cryptocurrency sector.
https://calvinayre.com/2018/01/15/conference/manila-turns-spotlight-cryptocurrency-blockchain-bitcoin-conference-philippines/

Legalizing bitcoin and alts may be a matter of time now in the Philippines

Indeed that was a victory of the cryptocurrecy space particularly of bitcoin.
Although that was not the first time that bitcoin got accepted here, but it was a great show of legitimacy of bitcoin and its benefits.
With conference such as the one conducted here in the Philippines, community supporters no longer need to initiate negotiation with our government.
For now, our government has made the necessary steps to regulate and hopefully legalize bitcoin and alts.

TomUyamot

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Quote from: Ayush rana on March 06, 2018, 11:13:55 AM

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

Of course, why not? While I think the governments have different motives on regulating Bitcoin use or trading, I believe that the greater reason why they need to regulate its circulation and usage is that they need to levy tax on it. The governments are after all aware and not blind of the very huge amount of money involved in crypto. They want to take a piece of the pie. They deserve that in a way. That might become the way through which we can have a common ground.

Topic: Negotiation with government - page 15. (Read 3069 times)