tax for a safer crypto environment - page 4.

semobo

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Quote from: lushlife on May 05, 2018, 10:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

Not a good idea,it won't save any investors from scams ot will just help the politicians to increase their wealth more.Already we all are paying taxes to the governments but most of the governments not doing anything for the country people with those revenue.
But the real meaning of decentralization means we habe to adopt to the new system if we keep using bitcoin for money making then it will become useless at some point.

boboking

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Quote from: lushlife on May 05, 2018, 10:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

I think this should actually happen. Here in my country they tax you for buying or selling stocks it is a very minimal amount but i believe this is where our securities and exchange commision funds come from. It protects stock investors/traders from some irregulation in the stock market. Definetely this type of law can be applied as well in the crypto market.

faceoff97

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Quote from: lushlife on May 05, 2018, 10:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

As far as I know, there are taxes included already on exchange platform we are using, thus applying another one is to much. But I feel like our government is also doing something since bitcoin had been making noise since then. Government will not let themselves not benefited from this new found technology, they will definitely make a move about this.

Indrawan77

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I think it will be great if the government can build some community to prevent us from falling into scam project, at least the investors will directly feel the benefit of the tax and it could attract more investors to join crypto, when people feel safe then they will interested in investing this could make the crypto grow bigger, I agree with this kind of tax

magneto

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Quote from: lushlife on May 05, 2018, 10:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

Not really. Crypto doesn't need government intervention and that's the beauty of it. Sure, there are scams and all that and with the irreversibility of bitcoin it makes it an easy target for scammers, but honestly if you just do your research beforehand and do your due diligence, you won't get scammed. Plus, how will taxing crypto exactly help with the issue for scammers? Makes no sense.

Obviously you should comply with whatever tax laws is in place with your country, though.

But it doesn't mean that what you pay in tax is necessarily going to benefit crypto, it just doesn't work like that. Governments could tax crypto, and at the same time restrict access to crypto businesses by having draconian rules on KYC and stuff like that. You don't really need that much funding to have the sufficient regulations needed for exchanges to operate, anyways.

burnchan

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Quote from: lushlife on May 05, 2018, 10:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

Imposing tax for crypto transactions would reduce our potential income from Bitcoin. However, if the purpose is to minimize scams then probably it would be better. Additional staffs are needed by the government to ensure that crypto investments and jobs are secured. Tax would be justifiable for this.

Pumapipa

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Quote from: lushlife on May 05, 2018, 10:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

Doable but I think for now it is now possible. The module that you are stating can result to benefits for both the investor and the company itself. But on the other hand, if we think about it, the crypto world is full of anonymous people. We really can't tell what kind of people we are protecting ourselves from.
If taxing transactions involvng cryptocurrencies will be implemented, then I am for it. The government must make sure that everything and the by-laws will protect investors and promote the use of these ICO in a good way.

Ridwan Fauzi

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It's not bad but I'm sure it will be hard to do. I have not seen if the government can become a third party when we do transactions, that's like a bank and I do not like it. Personally I do not need the government to live in cryptocurrency, I can do all my own security about my income and I can choose to find the best of every project to make money. And we can remind all users of cryptocurrency to avoid fraud, web phishing and anything else that harms the users of cryptocurrency. I guess that's the best way of working with the government.

Noelbetty12

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I don't think paying taxes will help in the fight against scams, hacking etc. I am not against the government since I do pay taxes. The only problem I saw is the system don't provide for a verification to transact via other methods like a two way verification process. When ones private key is hacked everything is done. How about a two way verification process where one should use mobile phones to access codes to finalize the transmission of coins aside from the private keys? For scams, I think it would be nice to add some regulations to them just like how a business is established.

hugeblack

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The US government has laws such as these taxes but has not reduced scams much.
It's a terrible idea. Cryptocurrencies will lose one of its most important features "decentralization," where the government can control the price of a particular currency by imposing high fees on it, and thus all currencies become central.
The scam cannot end, but the smarter traders, the fewer scammers.

neliawesome

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Well if its for a safer environment im willing to pay tax rather than suffering to scammers or any illegal transactions in crypto.

zander09

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Quote from: lushlife on May 05, 2018, 10:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

That's a great idea for us because it can be one of the way to avoid scam ICO, but corruption are always in the government side , if government add tax in crypto I hope it's not too much price.

jmigdlc99

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Quote from: lushlife on May 05, 2018, 10:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

They shouldn't be taxing our transactions. They should tax ICOs and the now more popular "Token Generation Events."

The average joe has already been taxed to death. Bitcoin and crypto was developed to decentralize everything and keep middlemen and governments from taking our money. I would not support any form of taxation for crypto transactions.

btc78

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Quote from: lushlife on May 05, 2018, 10:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

This is what our community needs,the security and protection because were investing our money here and sad to say,we become a target of those f*cking scammers to victimized and took our money anjust run away,why not seek for help from the government since we cant get justice here(no offense but its the reality)

therozaq

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Quote from: lushlife on May 05, 2018, 10:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

It is a good idea. but to do that the government needs expert cryptocurrency. especially now there is still no rule for cryptocurrency. So, The government should legalize bitcoin and tak taxes.

elemosho.crypto

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It is great idea indeed. Now govt authorities are talking about crypto market in tax issue and want to make so many rules. If tax are set at a point for all the cryptos, traders will be glad enough and feel free to engage in this industry.

Serco

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If it happens the possibility for a scam project does not happen, but I think the idea is impossible. The problem is that some countries do not fully support the crypto world that will cause the country's economy to deteriorate. If they make a policy to provide a crypto transaction tax, I seem to agree as long as the tax return is clear and real. Because until now it is difficult to find a good ICO, and also difficult to monitor, the project is large and many so still need a process to set it.

daarul50

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Quote from: lushlife on May 05, 2018, 10:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

I see it more that the tax is applied to exchange services, not intended for people who redeem. It is too much for taxes to be applied to people who transact because they, too, if they want to exchange fiat-crypto or crypto-fiat are charged by an exchange service. It's possible that bitcoin users are better taxed on the user-generated benefits of bitcoin investments and the taxes are also only a few percent of the profits earned.

richardsNY

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Tax isn't doing anything in our favor, people should accept it for once. If we did everything ourselves, we wouldn't even need 50% of the tax income governments currently gain to do the exact same thing, or even more. In other words, our tax money isn't being used the way most people here think it's used for. On top of that, the only thing we need governments to do is to come up with a proper regulatory framework, where if that's in place, we could figure out things ourselves without depending on the government. We made the government the big mighty entity, so let's give them not more power than they already have.

hatshepsut93

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Quote from: lushlife on May 05, 2018, 10:21:13 AM

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

That's a bad idea, society should always aim to have as few taxes as possible. The first reason is corruption and bureaucratic inefficiency - often times when governments try to solve some problems, they fail and waste money in the process. The second reason is that it's just unfair for those who are willing to take risks and confident in their own judgement in crypto sphere - they would be paying a tax for a service that they don't need.

Topic: tax for a safer crypto environment - page 4. (Read 425 times)