possible government regulations? - page 5.

Yutikas_11920

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Quote from: xIIImaL on November 18, 2016, 05:17:18 AM

Quote from: Gyfts on November 18, 2016, 01:52:25 AM

Correct me if I'm wrong anybody, but I believe the IRS wants you to put digital cyrpto currencies under taxable income if you have any type of significant amount of Bitcoin. Still, many people do not do this. It's a light governmental regulation, but nonetheless, it's a regulation.

Who knows, this may happen if the government agree bitcoin as centralized currency and centralized medium of money transaction. But bitcoin organization and miners will not allow this to happen as I know, because they are people get affected because of your mentioned future scheme in tax

To do it all then I think the Government also requires the confidential data in the bitcoin so they could freely to create a program that is the best and they could accept bitcoin as a whole. I think it is indeed something very fun and will give you a very good impact if all States accept bitcoin, subject to paying taxes. just wait for the future about this, hopefully very fun

Slark

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About current political situation the US. I think Trump and his people are the best pro bitcoin establishment we had so far.
We can expect either pro bitcoin regulations or keeping status quo - which is not bad thing either.

I base my opinion on recent news that Trump hired known pro bitcoin investor Peter Thiel as part of his Presidential Transition Team:
https://www.cryptocoinsnews.com/donald-j-trump-bitcoin-peter-thiel/

audaciousbeing

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In as much as we are happy that the popularity of Bitcoin is getting larger and larger and corporations coupled with countries are getting interested in what is happening in cryptoworld, then I tell you the regulation is coming and its closer than it seems. Because I tried registered on some exchange sites for trading, for verification alone that have taken away my anonymity in which Bitcoin rests upon that even when the regulation is not high. Maybe when its fully here, even this forum might start asking for KYC but hopefully the advantages will outweigh the cost.

xIIImaL

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Quote from: Gyfts on November 18, 2016, 01:52:25 AM

Correct me if I'm wrong anybody, but I believe the IRS wants you to put digital cyrpto currencies under taxable income if you have any type of significant amount of Bitcoin. Still, many people do not do this. It's a light governmental regulation, but nonetheless, it's a regulation.

Who knows, this may happen if the government agree bitcoin as centralized currency and centralized medium of money transaction. But bitcoin organization and miners will not allow this to happen as I know, because they are people get affected because of your mentioned future scheme in tax

tee-rex

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Quote from: kryptqnick on November 17, 2016, 02:53:27 PM

I think that if Bitcoin becomes more popular, some countries will try to regulate it. For example, licences on online casinos using btc is one of such regulation. They may try to control Bitcoin as well by buying (or just owning already) strong mining pools. I thing that is btc is to be use in supermarkets, they can add some taxes and just insert them into the price of goods.

I don't think that it will be an easy ride to tax or regulate those online casinos. They are easy to spot but hard to find, as with any other online business which may not have physical presence at all. What could a government do to such a business if it is incredibly popular among the populace but its owners live halfway around the world?

They might try to block access to the site, but that's pretty much they can basically do.

Bugor2

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Quote from: MONKEYJUNK on November 18, 2016, 02:12:04 AM

Quote from: Gyfts on November 18, 2016, 01:52:25 AM

Correct me if I'm wrong anybody, but I believe the IRS wants you to put digital cyrpto currencies under taxable income if you have any type of significant amount of Bitcoin. Still, many people do not do this. It's a light governmental regulation, but nonetheless, it's a regulation.

I think you already have to pay it to government however it's an anonymous coin, you can hide and be happy.
There's a lot of thing in bitcoin that government hate, they have no control about it.

the government will try to ban Bitcoin, but I hope that they will not work. Too much damage brings cryptocurrency national banking system

MONKEYJUNK

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Quote from: Gyfts on November 18, 2016, 01:52:25 AM

Correct me if I'm wrong anybody, but I believe the IRS wants you to put digital cyrpto currencies under taxable income if you have any type of significant amount of Bitcoin. Still, many people do not do this. It's a light governmental regulation, but nonetheless, it's a regulation.

I think you already have to pay it to government however it's an anonymous coin, you can hide and be happy.
There's a lot of thing in bitcoin that government hate, they have no control about it.

Gyfts

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Correct me if I'm wrong anybody, but I believe the IRS wants you to put digital cyrpto currencies under taxable income if you have any type of significant amount of Bitcoin. Still, many people do not do this. It's a light governmental regulation, but nonetheless, it's a regulation.

diegz

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Quote from: Doms on November 18, 2016, 01:13:30 AM

All these regulations done by the government just makes it obvious that they a want a piece of what the bitcoin owners have. If they can't centralize it, might as well find ways in which they can extract something from it. That's were regulations come in. If all else fails, the government might create a digital currency of their own and force people to use it.

If governments are interested in bitcoin, they've already put it in mainstream and starts to adopt it, sad to say they are not doing it, that's why we are still here, and it might mean that they are not interested in bitcoin, if they are going to create one to regulate bitcoin, it is not for themselves for sure, they will do it for the sake of their people, so they won't be scammed and could still pay tax at them... Grin

, You might be right that government might create their own digital currency.

Doms

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All these regulations done by the government just makes it obvious that they a want a piece of what the bitcoin owners have. If they can't centralize it, might as well find ways in which they can extract something from it. That's were regulations come in. If all else fails, the government might create a digital currency of their own and force people to use it.

mirakal

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Quote from: Xester on November 18, 2016, 12:11:25 AM

Quote from: serjent05 on November 17, 2016, 07:18:01 PM

Quote from: kryptqnick on November 17, 2016, 02:53:27 PM

I think that if Bitcoin becomes more popular, some countries will try to regulate it. For example, licences on online casinos using btc is one of such regulation. They may try to control Bitcoin as well by buying (or just owning already) strong mining pools. I thing that is btc is to be use in supermarkets, they can add some taxes and just insert them into the price of goods.

This is very possible. And as long as we cannot use bitcoin directly to buy stuff and the need to convert it to fiat money when in need of buying something, the government imposing regulation to bitcoin users will be easier. They can just control the third party processor into imposing taxes to all the conversion we made.

Bitcoin has failed. Bitcoin is the future. Bitcoin cannot be regulated. Bitcoin needs to be regulated. The debate over what will happen to the decentralized virtual currency has reached a cacophonous point, and now lawmakers around the world are wondering whether the time has finally come to regulate this emerging technology.
Since bitcoins is also money, a digital money. rules must be impose so that the users can also be protected, since many scammer of bitcoins was always free to do their dirty tricks.

Bitcoin will remain to be decentralized, that's the only difference that we like compared to the other payment processors online. Since it's decentralized we are confident that no one will see our account and will know our real identity, with this people are wanting more privacy now and they loses their trust with the banking system especially the rich people.

Xester

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Quote from: serjent05 on November 17, 2016, 07:18:01 PM

Quote from: kryptqnick on November 17, 2016, 02:53:27 PM

I think that if Bitcoin becomes more popular, some countries will try to regulate it. For example, licences on online casinos using btc is one of such regulation. They may try to control Bitcoin as well by buying (or just owning already) strong mining pools. I thing that is btc is to be use in supermarkets, they can add some taxes and just insert them into the price of goods.

This is very possible. And as long as we cannot use bitcoin directly to buy stuff and the need to convert it to fiat money when in need of buying something, the government imposing regulation to bitcoin users will be easier. They can just control the third party processor into imposing taxes to all the conversion we made.

Bitcoin has failed. Bitcoin is the future. Bitcoin cannot be regulated. Bitcoin needs to be regulated. The debate over what will happen to the decentralized virtual currency has reached a cacophonous point, and now lawmakers around the world are wondering whether the time has finally come to regulate this emerging technology.
Since bitcoins is also money, a digital money. rules must be impose so that the users can also be protected, since many scammer of bitcoins was always free to do their dirty tricks.

serjent05

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Quote from: kryptqnick on November 17, 2016, 02:53:27 PM

I think that if Bitcoin becomes more popular, some countries will try to regulate it. For example, licences on online casinos using btc is one of such regulation. They may try to control Bitcoin as well by buying (or just owning already) strong mining pools. I thing that is btc is to be use in supermarkets, they can add some taxes and just insert them into the price of goods.

This is very possible. And as long as we cannot use bitcoin directly to buy stuff and the need to convert it to fiat money when in need of buying something, the government imposing regulation to bitcoin users will be easier. They can just control the third party processor into imposing taxes to all the conversion we made.

Victorycoin

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Quote from: clickerz on November 17, 2016, 12:27:08 PM

Quote from: South Park on November 17, 2016, 12:02:12 PM

A law like does not seem to be necessary since any income you have is supposed to be declared to the tax office in your country even if you end up paying no tax you must inform of all your income.

That is true. What I do not like with government sometimes is that they are making the citizens as a milking cow. They are always thinking how to get money the populace. Goverment may have a good intention but not now.

Going down memory lane, it has always been like that, government are tax masters, they can hardly support anything that holds nothing for them. That explains their indifference to bitcoin and their earnest desire to come up with their own version of bitcoin, which without any doubt, would be more of a Trojan Horse.

kryptqnick

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I think that if Bitcoin becomes more popular, some countries will try to regulate it. For example, licences on online casinos using btc is one of such regulation. They may try to control Bitcoin as well by buying (or just owning already) strong mining pools. I thing that is btc is to be use in supermarkets, they can add some taxes and just insert them into the price of goods.

xIIImaL

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Quote from: clickerz on November 17, 2016, 12:27:08 PM

Quote from: South Park on November 17, 2016, 12:02:12 PM

A law like does not seem to be necessary since any income you have is supposed to be declared to the tax office in your country even if you end up paying no tax you must inform of all your income.

That is true. What I do not like with government sometimes is that they are making the citizens as a milking cow. They are always thinking how to get money the populace. Goverment may have a good intention but not now.

Lol, simply government utilize them as the currency machine by paying taxes. Even normal wage people are also getting affected by that.

achow102

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Quote from: clickerz on November 17, 2016, 12:27:08 PM

Quote from: South Park on November 17, 2016, 12:02:12 PM

A law like does not seem to be necessary since any income you have is supposed to be declared to the tax office in your country even if you end up paying no tax you must inform of all your income.

That is true. What I do not like with government sometimes is that they are making the citizens as a milking cow. They are always thinking how to get money the populace. Goverment may have a good intention but not now.

Yes, you're right. Citizens will earn Bitcoins hard work, and the government simply does not have the income investing with Bitcoins. It's not fair. I do not want government controlled cryptocurrency

clickerz

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Quote from: South Park on November 17, 2016, 12:02:12 PM

A law like does not seem to be necessary since any income you have is supposed to be declared to the tax office in your country even if you end up paying no tax you must inform of all your income.

That is true. What I do not like with government sometimes is that they are making the citizens as a milking cow. They are always thinking how to get money the populace. Goverment may have a good intention but not now.

South Park

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Quote from: leonair on November 15, 2016, 11:20:01 PM

Quote from: delliaerd on November 15, 2016, 09:25:45 PM

Quote from: tee-rex on November 15, 2016, 11:51:55 AM

Quote from: shyich03 on November 15, 2016, 11:41:02 AM

I am being imaginative, but can government intervene mining? or even replace tax with mining fees if bitcoin becomes the main stream of economy,m since bitcoin transactions are hard to tax?

Which government do you refer to?

In many countries like the United States or European Union Bitcoin is already regulated to some degree. Regarding Bitcoin becoming mainstream, this is unlikely to happen any time soon because it apparently means displacement of fiat currencies, but no government will ever agree to this. Why would they want to replace the currency which they can fully control with something they can't control?

Yes, I am agree with you friends. That will be bad deal for them. Goverment need the tax to build infrastructure of their country but some of country are take high rate in tax. They will get difficulty to trace bitcoin transaction. Goverment will choose the one that can give them benefit and full of control. The fact is bitcoin give so many advantage to the users but no to goverment.

What if there is an evil geek that will enter the politics and make a law about taxing the cryptocurrency industry, just a wild imagination my friends.

A law like does not seem to be necessary since any income you have is supposed to be declared to the tax office in your country even if you end up paying no tax you must inform of all your income.

goldcoinminer

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Quote from: praboso96 on November 16, 2016, 05:33:54 AM

I do not like the fact that the state taxable cryptocurrency. I'm not ready for that either morally or financially. Let the state controls its own currency

Just don't worry too much yet, the possibility of bitcoin to be tax is low, as in low. They cannot control us because people who supports love the concept of having privacy and freedom in transacting online, in bitcoin or crypto world we are the government and non other.

Topic: possible government regulations? - page 5. (Read 9455 times)