Actually what government can do is just limit the amount that can be bought or sold per day as they can't just ban the use of bitcoin or stop bitcoin network. However these limitations may not effect the volume of bitcoin that can be transferred between two parties anonymously.
Talking about effect of politics on price of bitcoin we have already seen several situations where political decision and even the latest US election had some effect on price.
Topic: possible government regulations? - page 7. (Read 9432 times)
Bitcoin is relatively new compared to any currency, gold was the currency of choice for thousands of years until people fell in the trap of fiat money not backed by anything, but given enough time bitcoin could pose an even greater treat for its decentralized nature.
Yes it is new and they should study first the implication. We know many people are discovering this bitcoin and finding opportunity in it. Though it is good that they regulate it is also for our own good.
Bitcoin is relatively new compared to any currency, gold was the currency of choice for thousands of years until people fell in the trap of fiat money not backed by anything, but given enough time bitcoin could pose an even greater treat for its decentralized nature.
Yes it is new and they should study first the implication. We know many people are discovering this bitcoin and finding opportunity in it. Though it is good that they regulate it is also for our own good.
Once they start "regulating" Bitcoin, they won't stop until they kill it.
government regulations are not meant to kill anything but they are designed to have the share of your returns ,so no regulations will be in place to stop bitcoin but they can impose heavy tax on it.While it is certainly true that they may consider Bitcoin as a threat, and most likely wouldn't regret if it kicked the bucket in the end, but, nevertheless, Bitcoin is too tiny to give them real pain in the ass, unlike, for example, gold. The latter seems to be what should be giving them genuine butthurt with its multitrillion market cap and the multimillenia story of being a truly authentic store of value.
Once they start "regulating" Bitcoin, they won't stop until they kill it.
government regulations are not meant to kill anything but they are designed to have the share of your returns ,so no regulations will be in place to stop bitcoin but they can impose heavy tax on it.While it is certainly true that they may consider Bitcoin as a threat, and most likely wouldn't regret if it kicked the bucket in the end, but, nevertheless, Bitcoin is too tiny to give them real pain in the ass, unlike, for example, gold. The latter seems to be what should be giving them genuine butthurt with its multitrillion market cap and the multimillenia story of being a truly authentic store of value.
That will be true in an ideal world but in the real world governments and bank will see bitcoin as threat to to system and may try to pass regulations that destroy bitcoin and even if that is impossible they could try to pass regulation that slow adoption or that severely cripples the functionality of bitcoin.
While it is certainly true that they may consider Bitcoin as a threat, and most likely wouldn't regret if it kicked the bucket in the end, but, nevertheless, Bitcoin is too tiny to give them real pain in the ass, unlike, for example, gold. The latter seems to be what should be giving them genuine butthurt with its multitrillion market cap and the multimillenia story of being a truly authentic store of value.
But how on earth are they going to tax Bitcoin transactions in practice? To me, taxing Bitcoin transactions would require changing the Bitcoin protocol, for example, in order to send a fixed share of the transacted amount to some government address. But whose government should receive the percentage? Other than that, such a change would be basically equal to hard forking Bitcoin. And how many Bitcoin users will be happy with that?
don't be absurd that is never going to happen and that was never the plan anyways.
taxes are always taken from businesses and when you do a business with money. what you said is like saying government is going to tax me if I take a $100 bill from my pocket out and put it in my other pocket!!! or like if you are holding money in your hand they come and tax you!!!
Welcome to a brave new world, mate! This is exactly how it happens nowadays. You hold your money in your hand, and while you are holding it the government is taxing you. You don't get taxed directly, no, but the effect is basically the same. Your money is constantly losing its value and purchasing power, and the lost value is the tax you pay to the government. This value doesn't vanish into nothing as you may think, it goes right into the hands of those who control the money.
Once they start "regulating" Bitcoin, they won't stop until they kill it.
government regulations are not meant to kill anything but they are designed to have the share of your returns ,so no regulations will be in place to stop bitcoin but they can impose heavy tax on it.While it is certainly true that they may consider Bitcoin as a threat, and most likely wouldn't regret if it kicked the bucket in the end, but, nevertheless, Bitcoin is too tiny to give them real pain in the ass, unlike, for example, gold. The latter seems to be what should be giving them genuine butthurt with its multitrillion market cap and the multimillenia story of being a truly authentic store of value.
But how on earth are they going to tax Bitcoin transactions in practice? To me, taxing Bitcoin transactions would require changing the Bitcoin protocol, for example, in order to send a fixed share of the transacted amount to some government address. But whose government should receive the percentage? Other than that, such a change would be basically equal to hard forking Bitcoin. And how many Bitcoin users will be happy with that?
don't be absurd that is never going to happen and that was never the plan anyways.
taxes are always taken from businesses and when you do a business with money. what you said is like saying government is going to tax me if I take a $100 bill from my pocket out and put it in my other pocket!!! or like if you are holding money in your hand they come and tax you!!!
taxes and regulations would be when you purchase something online just the same way when you purchase something online with your paypal or credit card.
Once they start "regulating" Bitcoin, they won't stop until they kill it.
government regulations are not meant to kill anything but they are designed to have the share of your returns ,so no regulations will be in place to stop bitcoin but they can impose heavy tax on it.While it is certainly true that they may consider Bitcoin as a threat, and most likely wouldn't regret if it kicked the bucket in the end, but, nevertheless, Bitcoin is too tiny to give them real pain in the ass, unlike, for example, gold. The latter seems to be what should be giving them genuine butthurt with its multitrillion market cap and the multimillenia story of being a truly authentic store of value.
But how on earth are they going to tax Bitcoin transactions in practice? To me, taxing Bitcoin transactions would require changing the Bitcoin protocol, for example, in order to send a fixed share of the transacted amount to some government address. But whose government should receive the percentage? Other than that, such a change would be basically equal to hard forking Bitcoin. And how many Bitcoin users will be happy with that?
Once they start "regulating" Bitcoin, they won't stop until they kill it.
government regulations are not meant to kill anything but they are designed to have the share of your returns ,so no regulations will be in place to stop bitcoin but they can impose heavy tax on it.While it is certainly true that they may consider Bitcoin as a threat, and most likely wouldn't regret if it kicked the bucket in the end, but, nevertheless, Bitcoin is too tiny to give them real pain in the ass, unlike, for example, gold. The latter seems to be what should be giving them genuine butthurt with its multitrillion market cap and the multimillenia story of being a truly authentic store of value.
There's a regulation that is already functioning for the exchange sites, like in my local exchange,we were required to comply with he KYC Policy and fill up all the information that is necessary. With that rules, we have no choice but to follow and i guess it's just fine because exchange sites are legitimate and they are operating with the license granted by the government.
What I am afraid of to happen, is the time will come that our transaction will be tax..
What I am afraid of to happen, is the time will come that our transaction will be tax..
Same here in my country before we can use the exchange there
is a need to submit documents. Just to use their exchange many
are required to submit documents, as a user need to follow the rules.
As to me thats ok as long the company is legit and secure. The thing
is Im not happy if in the future they will ask a big fees to the users.
Once they start "regulating" Bitcoin, they won't stop until they kill it.
government regulations are not meant to kill anything but they are designed to have the share of your returns ,so no regulations will be in place to stop bitcoin but they can impose heavy tax on it.While it is certainly true that they may consider Bitcoin as a threat, and most likely wouldn't regret if it kicked the bucket in the end, but, nevertheless, Bitcoin is too tiny to give them real pain in the ass, unlike, for example, gold. The latter seems to be what should be giving them genuine butthurt with its multitrillion market cap and the multimillenia story of being a truly authentic store of value.
There's a regulation that is already functioning for the exchange sites, like in my local exchange,we were required to comply with he KYC Policy and fill up all the information that is necessary. With that rules, we have no choice but to follow and i guess it's just fine because exchange sites are legitimate and they are operating with the license granted by the government.
What I am afraid of to happen, is the time will come that our transaction will be tax..
What I am afraid of to happen, is the time will come that our transaction will be tax..
And that is already implementing here in my country as well.
It's not that they have no choice but it's really a must if a legit company will comply to the rules and regulations under the anti-money laundering act of a certain country since they are involved in money transfers. Just fine with me and I see no wrong if ever some of my information will be on hand.
About the tax, it's already there in a different form. You can obviously see that in their given exchange rates.
However, even the regulation in every country have any difference to support bitcoin used, unfortunately there is no such things in my country, so we don't have tax to pay on bitcoin transaction to exchanges.
There's a regulation that is already functioning for the exchange sites, like in my local exchange,we were required to comply with he KYC Policy and fill up all the information that is necessary. With that rules, we have no choice but to follow and i guess it's just fine because exchange sites are legitimate and they are operating with the license granted by the government.
What I am afraid of to happen, is the time will come that our transaction will be tax..
What I am afraid of to happen, is the time will come that our transaction will be tax..
And that is already implementing here in my country as well.
It's not that they have no choice but it's really a must if a legit company will comply to the rules and regulations under the anti-money laundering act of a certain country since they are involved in money transfers. Just fine with me and I see no wrong if ever some of my information will be on hand.
About the tax, it's already there in a different form. You can obviously see that in their given exchange rates.
However, even the regulation in every country have any difference to support bitcoin used, unfortunately there is no such things in my country, so we don't have tax to pay on bitcoin transaction to exchanges.
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?
Our goverment really don't care about the regulation on bitcoin as long as it not illegal but for me i think they really don't know what really bitcoin is. And if we are talking about digital currencies they have some rules and changes in the currencies and it might change a little bit our economies 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?
Our goverment really don't care about the regulation on bitcoin as long as it not illegal but for me i think they really don't know what really bitcoin is. And if we are talking about digital currencies they have some rules and changes in the currencies and it might change a little bit our economies for the present time i dont see any regulation or involving of the government regarding the usage of bitcoin but the time will come in the future that the government will interfere the movement of bitcoin if most of people around the world will use bitcoin they will control that and regulate and maybe they will put taxes on bitcoin transaction.
It will not control by tax or anything because bitcoin is the anonymous platform where we can see all the transactions is in the open ledger. So government is will not look bitcoin to make as centralized money.
Really are you sure with that?all of us knows bitcoin was anonymous.Think about this mate bitcoin has a million of money transaction everyday do you think that the government will not be interested with that?for now i think they will not interfere with bitcoin coz not all people in the world uses bitcoin but somehow in the future they will.they will not regulate bitcoin but they will regulate some website that you cashout your bitcoin like coinbase.
Once they start "regulating" Bitcoin, they won't stop until they kill it.
government regulations are not meant to kill anything but they are designed to have the share of your returns ,so no regulations will be in place to stop bitcoin but they can impose heavy tax on it.for the present time i dont see any regulation or involving of the government regarding the usage of bitcoin but the time will come in the future that the government will interfere the movement of bitcoin if most of people around the world will use bitcoin they will control that and regulate and maybe they will put taxes on bitcoin transaction.
It will not control by tax or anything because bitcoin is the anonymous platform where we can see all the transactions is in the open ledger. So government is will not look bitcoin to make as centralized money.
for the present time i dont see any regulation or involving of the government regarding the usage of bitcoin but the time will come in the future that the government will interfere the movement of bitcoin if most of people around the world will use bitcoin they will control that and regulate and maybe they will put taxes on bitcoin transaction.
It will not control by tax or anything because bitcoin is the anonymous platform where we can see all the transactions is in the open ledger. So government is will not look bitcoin to make as centralized money.
Possible maybe if they create a department that will be specific in taxing digital transactions but being virtual nowadays is being free from reality, I guess so, how will you tax a free thing.
It is possible for the government to create such law since bitcoin has value, and been used by many, its just that, the world is not uniform, we don't have a common law, so if a country create one, the others won't just adopt it, so there is a tendency that on those country who don't adopt the law on regulating bitcoin there we will see progress in bitcoin use... I think we should not wish government regulation on bitcoin...
I agree to you, technically this Bitcoin thing is a currency of all countries. Let's just hope for the best, but if there is a greed nerd that will enter the politics then he/she might make taxes in trading crypto currency and it will be bad for us.
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