possible government regulations? | Bitcointalksearch.org

raven7886

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Quote from: ShooterXD on December 01, 2016, 08:54:30 AM

I think this regulation is useless cause the great amount will Just keep let in secret wallet, and people will Just show to governament what they want to show, this will let this things easily for us.

This is only IMHO

But in my understanding, a possible regulation will come into effect only when you are going to use or as per current scenario when we are going to convert your bitcoin into fiats by using your bank accounts. Unless then, it will not be possible for any government to regulate all your bitcoin usage. Yes we can show only whatever amount of bitcoins we prefer to.

deisik

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Quote from: sportis on December 02, 2016, 02:09:30 PM

Quote from: shyich03 on November 03, 2016, 09:51:39 PM

Quote from: Ziskinberg on November 03, 2016, 10:06:18 PM

~~
What I am afraid of to happen, is the time will come that our transaction will be tax..

transactions will never have taxes!
taxes will be paid when you buy something or sell something or in other words when you are doing business , it is the same taxes you pay when you buy with fiat.

Yes I have same opinion. There is no way to tax transactions. On the other hand if you buy something and the store gives you the receipt then you will pay taxes after the conversion in local currency like as you have in your pocket US dollars go somewhere in Europe buy something with dollars and seller gives you a receipt in Euro.

While it is certainly true that taxing transactions can be a hell on its own and would most certainly require a hard fork (to be done properly), which would instantly kill Bitcoin, nevertheless, effectively all transactions can be taxed if governments somehow manage to tax Bitcoin miners. For example, they could check all block generating transactions (wallet addresses) in their own ledger, and if some miner doesn't pay a tax, they will go after him...

That may be hard to implement, of course, but still a lot easier than tracing individual transactions

zero1ten

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Quote from: shyich03 on November 03, 2016, 09:51:39 PM

Since bitcoin and other digital currencies are such a game changer for the traditional economics systems, could there be any government policies that can be devastating to this new market? and even if governments in North America or Europe might not be able to do such things, how about policies from other more centralized countries that could bring the same effect?

The most probable thing I can see for governments to keep hold of bitcoin being used is to diminish its usefulness, meaning governments will try to sanction companies that conduct transactions using bitcoin thus indirectly affecting the whole bitcoin ecosystem because if people can no longer use it the way they use fiat then the demand will surely suffer.

sportis

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Quote from: shyich03 on November 03, 2016, 09:51:39 PM

Quote from: Ziskinberg on November 03, 2016, 10:06:18 PM

~~
What I am afraid of to happen, is the time will come that our transaction will be tax..

transactions will never have taxes!
taxes will be paid when you buy something or sell something or in other words when you are doing business , it is the same taxes you pay when you buy with fiat.

Yes I have same opinion. There is no way to tax transactions. On the other hand if you buy something and the store gives you the receipt then you will pay taxes after the conversion in local currency like as you have in your pocket US dollars go somewhere in Europe buy something with dollars and seller gives you a receipt in Euro.

ShooterXD

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I think this regulation is useless cause the great amount will Just keep let in secret wallet, and people will Just show to governament what they want to show, this will let this things easily for us.

This is only IMHO

tee-rex

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Quote from: coynedterm on December 01, 2016, 04:45:11 AM

In my opinion there should be no government policies for Bitcoin because if the policies of government will apply at Bitcoin then the Bitcoin will become like fiat . It will have high transaction tax .

But there is no other way around it. Governments will impose such policies whether we like it or not. Most influential governments have already revealed their attitude toward Bitcoin, and truth to be said, it has been barely tolerant so far. We can only pray that they won't start preying on us if their attitude goes from bad to worse over time.

coynedterm

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Quote from: shyich03 on November 03, 2016, 09:51:39 PM

Since bitcoin and other digital currencies are such a game changer for the traditional economics systems, could there be any government policies that can be devastating to this new market? and even if governments in North America or Europe might not be able to do such things, how about policies from other more centralized countries that could bring the same effect?

In my opinion there should be no government policies for Bitcoin because if the policies of government will apply at Bitcoin then the Bitcoin will become like fiat . It will have high transaction tax .

X-ray

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Quote from: goldcoinminer on November 30, 2016, 09:12:24 PM

Quote from: ?? on ??

Quote from: Vikingr on November 29, 2016, 04:55:40 PM

I will say that now it is the game of bitcoin and it is going to establish all over the world so in the future the government will feel it much important to adopt it and without it they will not find any way to success. So in the resultant they will start to find ways to adopt bitcoin and for that it is possible that they create their specific banks and their wallets.

And when the time comes that bitcoin is being accepted and used by the banks then for sure it is going to be covered by some government and banking rules or else the government is the one to start the petition for totally boycotting bitcoin because it is going to be a threat to the banking sector for each country that has majority are bitcoin users.

But the big question is, when is that going to happen? Banks are centralized while bitcoin is not. I cannot picture it out in the future, this two can never be consolidated IMO.

even the country is boycotting bitcoin there's always some people who bypasses this and the boycott is useless,although government can't regulate bitcoin that easily because it's decentralized, it's more likely global currency that no one could take control over it and will always be like that
that's just too imaginary what you've said before

madwica

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Quote from: Natalim on December 01, 2016, 12:59:14 AM

Quote from: Bitcoin0916 on November 30, 2016, 09:37:53 PM

Quote from: goldcoinminer on November 30, 2016, 09:12:24 PM

Quote from: ?? on ??

Quote from: Vikingr on November 29, 2016, 04:55:40 PM

I will say that now it is the game of bitcoin and it is going to establish all over the world so in the future the government will feel it much important to adopt it and without it they will not find any way to success. So in the resultant they will start to find ways to adopt bitcoin and for that it is possible that they create their specific banks and their wallets.

And when the time comes that bitcoin is being accepted and used by the banks then for sure it is going to be covered by some government and banking rules or else the government is the one to start the petition for totally boycotting bitcoin because it is going to be a threat to the banking sector for each country that has majority are bitcoin users.

But the big question is, when is that going to happen? Banks are centralized while bitcoin is not. I cannot picture it out in the future, this two can never be consolidated IMO.

That was the concern of the Government does not approve the bitcoin. Of course there will be a big problem which could threaten national security if using bitcoin. When the price keeps up, bitcoin will make people reluctant to real transact and hold it, but when the price of the bitcoin down surely everyone will take off bitcoin.

It was not approve by the government yet but with the current situation you can tell that even without the support of the government bitcoin are still very progressive, we should take the necessary steps which is to invest since it's an opportunity that shouldn't be miss.

As long as it will not be ban, it will always grow and we will become a bigger community.

Agree with you mate that we should take the advantage to invest and gain more income because this opportunity was open for all people and for me i do not like it would be government regulated because now bitcoin does not have tax imposed in every transaction only fees but this is very low that is why much better to keep it away to government.

Natalim

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Quote from: Bitcoin0916 on November 30, 2016, 09:37:53 PM

Quote from: goldcoinminer on November 30, 2016, 09:12:24 PM

Quote from: ?? on ??

Quote from: Vikingr on November 29, 2016, 04:55:40 PM

I will say that now it is the game of bitcoin and it is going to establish all over the world so in the future the government will feel it much important to adopt it and without it they will not find any way to success. So in the resultant they will start to find ways to adopt bitcoin and for that it is possible that they create their specific banks and their wallets.

And when the time comes that bitcoin is being accepted and used by the banks then for sure it is going to be covered by some government and banking rules or else the government is the one to start the petition for totally boycotting bitcoin because it is going to be a threat to the banking sector for each country that has majority are bitcoin users.

But the big question is, when is that going to happen? Banks are centralized while bitcoin is not. I cannot picture it out in the future, this two can never be consolidated IMO.

That was the concern of the Government does not approve the bitcoin. Of course there will be a big problem which could threaten national security if using bitcoin. When the price keeps up, bitcoin will make people reluctant to real transact and hold it, but when the price of the bitcoin down surely everyone will take off bitcoin.

It was not approve by the government yet but with the current situation you can tell that even without the support of the government bitcoin are still very progressive, we should take the necessary steps which is to invest since it's an opportunity that shouldn't be miss.

As long as it will not be ban, it will always grow and we will become a bigger community.

Bitcoin0916

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Quote from: goldcoinminer on November 30, 2016, 09:12:24 PM

Quote from: ?? on ??

Quote from: Vikingr on November 29, 2016, 04:55:40 PM

I will say that now it is the game of bitcoin and it is going to establish all over the world so in the future the government will feel it much important to adopt it and without it they will not find any way to success. So in the resultant they will start to find ways to adopt bitcoin and for that it is possible that they create their specific banks and their wallets.

And when the time comes that bitcoin is being accepted and used by the banks then for sure it is going to be covered by some government and banking rules or else the government is the one to start the petition for totally boycotting bitcoin because it is going to be a threat to the banking sector for each country that has majority are bitcoin users.

But the big question is, when is that going to happen? Banks are centralized while bitcoin is not. I cannot picture it out in the future, this two can never be consolidated IMO.

That was the concern of the Government does not approve the bitcoin. Of course there will be a big problem which could threaten national security if using bitcoin. When the price keeps up, bitcoin will make people reluctant to real transact and hold it, but when the price of the bitcoin down surely everyone will take off bitcoin.

goldcoinminer

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Quote from: ?? on ??

Quote from: Vikingr on November 29, 2016, 04:55:40 PM

I will say that now it is the game of bitcoin and it is going to establish all over the world so in the future the government will feel it much important to adopt it and without it they will not find any way to success. So in the resultant they will start to find ways to adopt bitcoin and for that it is possible that they create their specific banks and their wallets.

And when the time comes that bitcoin is being accepted and used by the banks then for sure it is going to be covered by some government and banking rules or else the government is the one to start the petition for totally boycotting bitcoin because it is going to be a threat to the banking sector for each country that has majority are bitcoin users.

But the big question is, when is that going to happen? Banks are centralized while bitcoin is not. I cannot picture it out in the future, this two can never be consolidated IMO.

severaldetails

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Quote from: tee-rex on November 30, 2016, 06:03:55 AM

Quote from: ShooterXD on November 29, 2016, 06:10:00 PM

The governament can try regulate bitcoin use, but this is impossible to turn effective.

If people just hide your main wallet and take care to spend your money, this can be easy.

But you really need take care to not get busted.

It may not be very effective, but it would largely depend on what exactly they are going to do and to what degree they are going to regulate Bitcoin. If they regulate it in such a way that would be bordering on directly banning Bitcoin, I don't think that they will have a positive effect on it even if the regulations themselves won't be effective.

But that's what matters in the end, the effect itself.

I can imagine that some of the small user might be impressed if a government proclaims bitcoin to be banned in its country.
Those small users will surely decide to give up working with bitcoin.
The question is if that would be enough to really hit bitcoin.
Professionals, traders and businesses will surly find a way to bypass that regulations.

tee-rex

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Quote from: ShooterXD on November 29, 2016, 06:10:00 PM

The governament can try regulate bitcoin use, but this is impossible to turn effective.

If people just hide your main wallet and take care to spend your money, this can be easy.

But you really need take care to not get busted.

It may not be very effective, but it would largely depend on what exactly they are going to do and to what degree they are going to regulate Bitcoin. If they regulate it in such a way that would be bordering on directly banning Bitcoin, I don't think that they will have a positive effect on it even if the regulations themselves won't be effective.

But that's what matters in the end, the effect itself.

ShooterXD

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The governament can try regulate bitcoin use, but this is impossible to turn effective.

If people just hide your main wallet and take care to spend your money, this can be easy.

But you really need take care to not get busted.

Vikingr

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I will say that now it is the game of bitcoin and it is going to establish all over the world so in the future the government will feel it much important to adopt it and without it they will not find any way to success. So in the resultant they will start to find ways to adopt bitcoin and for that it is possible that they create their specific banks and their wallets.

Antoshka

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The Government do not like Bitcoin for many reasons. Bankers are losing profits due cryptocurrency. It is the reason that the time will come when the government will start to monitor cryptocurrency.

virasog

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If we see in this time, So all crypto currencies are going very well, and it has a huge business in it, and many people are making money from all crypto currencies especially using the bitcoin. But in my thinking, all government which they allow to use the bitcoin legal, and also those governments who are not allow the crypto currencies in government level, still they like it and they don't want to destroy them, So in the coming time all crypto have a good time.

deisik

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Quote from: Vinz24 on November 28, 2016, 08:06:35 AM

Quote from: arseaboy on November 28, 2016, 03:22:35 AM

Quote from: deisik on November 27, 2016, 04:46:12 PM

Quote from: South Park on November 27, 2016, 12:19:25 PM

Quote from: deisik on November 27, 2016, 10:34:21 AM

And to mitigate the problem would mean to ban Bitcoin, right?

Crimes happen not because of Bitcoin but because there are criminals (or would be criminals until they get caught and convicted). Blaming Bitcoin is like blaming the gun and not the guy who pulled the trigger. Though you are right, at least to a degree, that governments don't care and more often than not just don't want to deal with the real causes of a problem

Correct, and why the government doesn't want to deal with the real problem? Because they can get more power because of it. If there is a lot of crimes governments can ask for more taxes and more intrusive laws and people give in because they want those things to stop but it doesn't.

I have to agree with that

Government (any particular government, for that matter) seems to be the worst problem "solver" out there. Instead of dealing directly with the root of the problem, they seem to be more busy incessantly fighting with symptoms. I guess if it were any other way (and any other way would still be a better way, lol), people would start questioning why there are so many slackers and shirkers sticking around in the government. Rephrasing Winston Churchill, we can always count on the government to do the right thing after they have tried everything else

And that is why we most of us here in bitcoin community don't agree to have a government intervening with bitcoin. Because it would be a bad news for us if they will apply taxes and some fees to every transactions we made using our bitcoins.

No matter what happens the government still has the right to intervinig bitcoin, they can put tax on it or ban it. We just all hope that they can create a law to bitcoin to be more useful to everyone.

One should never forbid what one lacks the power to prevent

And the same applies to taxes even more. Outright banning Bitcoin in a any single country may in fact add popularity to it (though this is debatable). It could be argued that the government wouldn't ban something which they were not afraid of. Further, once they decide to impose some tax on Bitcoin, they will have to decide as well how to make this tax collectible, and that may turn out to be expensive up to a point where it makes no sense to tax Bitcoin at all. Needless to say that most if not all bitcoin holders will quickly turn into committed tax evaders

Vinz24

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Quote from: arseaboy on November 28, 2016, 03:22:35 AM

Quote from: deisik on November 27, 2016, 04:46:12 PM

Quote from: South Park on November 27, 2016, 12:19:25 PM

Quote from: deisik on November 27, 2016, 10:34:21 AM

And to mitigate the problem would mean to ban Bitcoin, right?

Crimes happen not because of Bitcoin but because there are criminals (or would be criminals until they get caught and convicted). Blaming Bitcoin is like blaming the gun and not the guy who pulled the trigger. Though you are right, at least to a degree, that governments don't care and more often than not just don't want to deal with the real causes of a problem

Correct, and why the government doesn't want to deal with the real problem? Because they can get more power because of it. If there is a lot of crimes governments can ask for more taxes and more intrusive laws and people give in because they want those things to stop but it doesn't.

I have to agree with that

Government (any particular government, for that matter) seems to be the worst problem "solver" out there. Instead of dealing directly with the root of the problem, they seem to be more busy incessantly fighting with symptoms. I guess if it were any other way (and any other way would still be a better way, lol), people would start questioning why there are so many slackers and shirkers sticking around in the government. Rephrasing Winston Churchill, we can always count on the government to do the right thing after they have tried everything else

And that is why we most of us here in bitcoin community don't agree to have a government intervening with bitcoin. Because it would be a bad news for us if they will apply taxes and some fees to every transactions we made using our bitcoins.

No matter what happens the government still has the right to intervinig bitcoin, they can put tax on it or ban it. We just all hope that they can create a law to bitcoin to be more useful to everyone.

Topic: possible government regulations? (Read 9455 times)