tax for a safer crypto environment | Bitcointalksearch.org

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: costanos02 on June 26, 2018, 10:13:46 AM

Imposing tax on cryptocurrency is much better because it is a good sign that government fully accept and support on cryptocurrency, and it helps the economy grow faster in no time, and it is expected some rules to be followed.

Stop believing the bs that your tax income is spent well by governments, it's not.

Another major stupidity factor is that people believe governments lose out on income if we don't pay tax over our crypto gains and holdings. How can they lose out on something they never had in the first place? If crypto didn't exist there would be 0 (zero) income for governments. Right now they enjoy an extra income stream from people paying tax as forced upon them.

Governments aren't in a position to demand anything from you when it comes to Bitcoin. There is no central authority with the ability to freeze or seize your assets.

We should move away from governments where we can, not further stimulate their extortion and theft practices.

Sony.UK

full member

Activity: 532

Merit: 103

Each government have individual perspective of Crypto platform so some countries fix the regulation then they plan to taxes because some peoples are hold the black money in Crypto platform. Tax is the good for economic development of every country so it is always safer to all the investors.

ericaltm

jr. member

Activity: 96

Merit: 1

What governments should do is the following.

Have a section in the tax forms where you insert a 0.014% of your TOTAL CRYPTO ASSETS.
This is the amount you will have to pay in your currency to the government.

You can calculate your own math, but I found this to be a legitimate number where governments could accept this and it wouldn't cause any issues, nor is it a huge amount.

Of course, this 0.014% would only apply if you hold more than xxx$ in crypto. Currently, I think the best is if you are over 10,000$ or equivalent.

sepeda karat

newbie

Activity: 70

Merit: 0

It would be good but the government can manipulate crypto's service and anonymously because they can trace all the transactions that we all made or they can easily control all system of the crypto or maybe bitcoin so It's a big warning if the government is to tax the crypto.

costanos02

jr. member

Activity: 518

Merit: 6

Imposing tax on cryptocurrency is much better because it is a good sign that government fully accept and support on cryptocurrency, and it helps the economy grow faster in no time, and it is expected some rules to be followed.

jvdp

hero member

Activity: 1148

Merit: 523

CryptoTalk.Org - Get Paid for every Post!

Government can be taxed on bitcoin users when they use the trading platform to exchange the bitcoin into fiat cash. This is the maximum thing they can do on bitcoin users mate. Apart from this if anyone hold the bitcoin in the private key secured wallet.
None can put the taxation on them. Then government cannot stop the bitcoin usage or anything happening around that.

maxreish

sr. member

Activity: 1330

Merit: 326

If they will fo a group that ensure individual's safety, then I will agree on the taxes our government tend to add. If it is worth taxable then there is no problem on my side. Hope in reality, our government will implement that scenario like what you have think of to protect us in the future. Crypto transactions nowadays are not a joke so people needs more security from the government if in necessary.

hahay

legendary

Activity: 3486

Merit: 1055

Leading Crypto Sports Betting & Casino Platform

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?

Taxes for crypto I strongly agree but let the taxes to help the country's economic growth such as increasing employment, building the city structure for the better etc, fiat transactions into crypto and vice versa is very large, so it's worthwhile for us to pay taxes. Because after all pay taxes very well and positive.

Chrisjay29

full member

Activity: 392

Merit: 103

will that will be good. if government will make a assets that avoid scam. but it will be depend on price of the tax. i know taxes is good.because it help your country grow. if it is on good price.

Chachen19

newbie

Activity: 126

Merit: 0

Quote from: South Park on May 05, 2018, 10:54:13 AM

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?

Depending on the regulations in your country you should already be paying those taxes, there is no need for the government to create a special tax because you are already due your taxes to begin with, second while what you are suggesting is not a terrible idea you will need to governments to accept cryptocurrencies completely for that to happen, but do you think that they want more people to use cryptocurrencies? Because I don't think so, that makes very unlikely that they're going to create something like that.

It would be great if taxes would be used to protect the secure digital money environment, for example, because it would provide maximum protection for transactions as well as protect users from more important code triggers.

krampus854

full member

Activity: 322

Merit: 100

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?

Well i think no one will be rich in bitcoin because imagine every transactions today has so big fee's and imagine you will add the tax like 3%-5% that is so big right there are so many people in the world that are using bitcoin the government will just use the power to increase each tax.

randyboy

member

Activity: 378

Merit: 10

It would be good but the government can manipulate crypto's service and anonymously because they can trace all the transactions that we all made or they can easily control all system of the crypto or maybe bitcoin so It's a big warning if the government is to tax the crypto.

sharm2121

member

Activity: 238

Merit: 10

ImmVRse | Disrupting the VR industry

For me it will not be safe because government will have the control on it, so its not safe for us especially the people who invest in bitcoin. Bitcoin now is safe and better to invest, so why we should agree to have a tax, and we still using it now freely even if the government doesnt legalize bitcoin.

Jaybitcoin2018

newbie

Activity: 147

Merit: 0

Quote from: mobiljonson on May 27, 2018, 07:24:01 AM

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?

Basically Bitcoin has a decentralized system whose transactions are hard to trace by anyone including the government. This makes a negative transaction rife in Bitcoin

I think if that would happen there would be new policies that would be implemented and bitcoin would no longer be decentralized and the government will have control over it already. Not everyone will be happy about it if that will happen though I know that would not be easy anyway.

mobiljonson

newbie

Activity: 56

Merit: 0

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?

Basically Bitcoin has a decentralized system whose transactions are hard to trace by anyone including the government. This makes a negative transaction rife in Bitcoin

Yadstiker

full member

Activity: 373

Merit: 100

Quote from: South Park on May 05, 2018, 10:54:13 AM

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?

Depending on the regulations in your country you should already be paying those taxes, there is no need for the government to create a special tax because you are already due your taxes to begin with, second while what you are suggesting is not a terrible idea you will need to governments to accept cryptocurrencies completely for that to happen, but do you think that they want more people to use cryptocurrencies? Because I don't think so, that makes very unlikely that they're going to create something like that.

I agree and you do have a point out there mate. In other words we need to pay extra taces for us to be VIP or in short for us to be safer in some aspects, but it doesn't reallt guarantee our safety. As what you have said, i think the government are against on using crypto instead, and if they will support such idea it would be a long way process.

Falmera

jr. member

Activity: 280

Merit: 2

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 indeed. But it just suits to a government whose officials are truly a public servant. Your goals will be hundred percent achieved. Otherwise, if the officials are selfish, our tax will just be wasted. We will be like feeding huge size crocodiles.

Ilegendph

full member

Activity: 434

Merit: 103

Thinking on the higher plane of existence.

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 seems what you are suggesting is like government's regulation on stocks and forex. I believe that your suggestion is good and I will totally agree with the regulation if the government dont interact with the decentralization of cryptocurrency.

no0dlepunk

sr. member

Activity: 490

Merit: 258

Do you really think that if they tax it, the tax will be used for goodness sake? hell no! Once they make it happen, expect huge corruption.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: As roma on May 26, 2018, 01:40:40 PM

Bitcoin is not a fiat currency with legitimate status in any country

Bitcoin is legal in Japan. But even if it wasn't, Bitcoin doesn't need the government's blessing to become a legitimate whatever-you-want-it-to-be tool. Who is the government to decide for me what's legitimate or not? I can figure that out for myself, don't need anyone doing that for me. It's always governments this and governments that; can you guys actually think on your own or do you always need governmental input?

Letting a bunch of criminals (yes, governments are criminals) decide for you what's good or bad isn't the right way to move forward. Bitcoin gives you financial freedom, which is an extremely powerful tool. Governments controlling people's wealth means they control the people, it's that simple. Bitcoin breaks through that. It will take time for people to realize that, but eventually more people will become aware of how rotten the system is, and that they have been supporting it with tax payments for decades.

Kakawate

full member

Activity: 378

Merit: 100

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?

For me, it would be just fine, as long as the tax that we are paying is gonna be given the quality sergice that we are paying for, as long as the crypto users are really enjoying the services that the government had promised tand to provide.

Flayme

newbie

Activity: 210

Merit: 0

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... If tax is really needed to legalize Bitcoin all over a counrty why not.... Tax is really important and if we used it here.... Well definitely it will bring safe and secure community.... In returns for our tax the government will protects as from illegal things like scam and hacking.... Well if it really happened it will surely help us not to be a victims of scammer.... We are working hardly here so if we are just be a victim of scam... That's is probably the worst thing that will happen to us... I will agree on that but the government will do their very best to make everything here safe and to create a better crypto environment.....

MaoDio

newbie

Activity: 50

Merit: 0

Everytime the government implies that they gonna add a new tax from scratch it needs to be fought, it just increases the overall tax burden on the population and they keep doing it while playing different groups out to each other (ppor vs rich, healthy vs unhealthy, foreign vs native etc).

If they cant guarantee a safe environment for the companies (exchanges) which are registered in a specific country they are not government at all, its like adding a 3% police tax and 4% firefighter tax on all products soldin a country, either they can finance all of those services by the gigantic amont of taxes they already forcefully take from people or they are not considered a government (look at venezuela to see the extreme of this concept)

raidarksword

member

Activity: 2044

Merit: 16

I guess it is a good idea for security purposes to avoid and lessen scams performed by those people using bitcoin to perform their heinous acts but it all depends on the government on how they regulate crypto currency and adapts it.

Rossy Akbar

full member

Activity: 532

Merit: 100

It will become an absolutely awesome idea tho, I think that's the meaning of paying taxes for something. If the government do that it's mean they care of bitcoin users and they want to make a good agreement for bitcoiners. Maybe if they could make an high taxes even to protect bitcoiners from the hacker either.

As roma

newbie

Activity: 53

Merit: 0

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?

Bitcoin is not a fiat currency with legitimate status in any country, but it is often still bound by the rules of tax liability regardless of the medium of money used. There are various laws in many countries that may result in income taxes, sales, payroll, profits, or other forms of tax liability arising with Bitcoin.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: hatshepsut93 on May 05, 2018, 12:51:37 PM

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.

I agree with this, I do not know why some people get the idea that more taxes are a good thing maybe they think they are not going to be affected by those taxes and they're going to get benefits out of it, but taxes should only be applied when necessary, more taxes only create more poor people and also the bigger the taxes the more people are going to try to avoid them.

qwertyup23

hero member

Activity: 2268

Merit: 789

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?

A lot of implications would happen once the government intervenes and imposes tax in cryptocurrencies. First, bitcoin’s decentralized nature makes it a perfect vessel for investors as tax is obsolete, unlike in any other investment mechanisms. Second, if the government imposes tax, it is safe to assume that they have regulation or control towards the system. This may be beneficial in terms of having collateral but it may significantly decrease its price. Lastly, investors would shift into a new type of investment mechanism as the returns are what make bitcoin unique.
Though it really is a double-edged sword depending on where you look at it, I would prefer that the government would support its existence without having to impose prejudicial laws against it.

knightmairesaint

sr. member

Activity: 490

Merit: 262

privacy preserving smart contracts and beyond

Quote from: ASHLIUSZ on May 08, 2018, 07:27:26 PM

Government doesn't have a separate plan on the tax collection, whatever manner taxes been collected it goes to a combined fund. From there it gets used on various other needs. The tax collected from a particular process similar to cryptocurrency won't get used for the development of the cryptocurrency related services.

True and to make it short, crypto processes, transactions and services can be taxed but there is no guarantee that the funds will all go to crypto. The allocation of funds will depend on the budget plan wherein the most important things for the welfare of the country like education, medicine and etc. are where most of the funds goes too.

Cryptos are not that important to the government so we can assume that crypto would be put to the "Others" category in budget planning. Anyways, we are also paying tax through services so if we want better security for our cryptos why not just increase the security directly. I don't think that putting tax directly in crypto services will help us making crypto environment safer.

ASHLIUSZ

hero member

Activity: 994

Merit: 502

Government doesn't have a separate plan on the tax collection, whatever manner taxes been collected it goes to a combined fund. From there it gets used on various other needs. The tax collected from a particular process similar to cryptocurrency won't get used for the development of the cryptocurrency related services.

victoryana

newbie

Activity: 154

Merit: 0

Taxes make for a safer encoding environment. If so, I fully support tax collection to create this safe environment, and the government will charge a large amount of money and the charge will be used. management for currency

patz22

full member

Activity: 1176

Merit: 104

Taxing crypto should be the same percentage as the current tax for any other income. Well, our earnings in crypto is basically much higher than any regular job. It is fine with me since it is for the improvement of our economic state (I am living in a 3rd world country) and recently our country decided to allow crypto and have a crypto economic zone that will create employment and generate tax. Reference: https://news.bitcoin.com/philippines-welcomes-crypto-economic-zone/

Granxis

hero member

Activity: 1400

Merit: 536

Quote from: Cosbycoin on May 08, 2018, 06:22:45 AM

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 totally irrelevant because we are running away from taxes and you are asking about tax in crypto is bad for crypto users. Crypto users are investing because it is tax free and is negligible as compared to other currencies. People leave fiat due to the tax and bad transaction system and now the given suggestion will make people to run from crypto as well like they ran from fiat.

No one wants to pay taxes, but how can a taxpayer escape? When we make a shopping we automatically pay taxes, or things like gasoline, alcohol and taxes. To avoid the tax; we need to transfer money to the international, using crypto moneys.

ashkanm

newbie

Activity: 238

Merit: 0

I think it's a great idea. Already transactions from Visa are not tax free and charges are included. 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.

Harrisonimo

full member

Activity: 490

Merit: 101

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 did mentioned this yesterday that government might be incorporated into bitcoin/Cryptocurrency earnings by taxing every transaction made; via transaction fees. Thereby legalizing Cryptocurrency fully and being able to monitor some of the growth processes.

Jessy Mediola

full member

Activity: 340

Merit: 100

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 brilliant idea through this the crypto will be more secure and more reliable compare to the old one. But the government must be expert in cryptocurrency so it will be worth it to pay taxes. And those taxes will also be helpful to the economy and to the country because it helps many people especially those who experience poverty.

khaled0111

legendary

Activity: 2702

Merit: 3045

Top Crypto Casino

It is a good idea but it will be hard to implement it.
People using cryptocurrencies don't want to be controlled by their governments so they will make their deals in the black market.
Also, implementing tax means that Bitcoin will be more centralized because all transactions will be supervised by a higher authority.
It will be easier to take commissions directly from exchanges.

Muwatti

newbie

Activity: 176

Merit: 0

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?

You know that's a good idea... If the tax we pay will really help us for our security why not... Tax is really helpful sometimes especially if the government used it for the goodness of many... I will support that also because while we are working here atkeast we are sure that we are away from scam... But as for now it is still not possible because crypto are just starting... It needs a lots of people who will recognize its uses before it happen... But us a user we are hoping that soon it will happen....

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: East2011 on May 08, 2018, 07:15:53 AM

As long as the tax they get will make cryptocurrency more safer and protected from all scammers and other criminals.

Governments can't and won't do anything to protect you. If you look at how all regulations meant to 'protect' the regular markets don't even have any effect, why would it have an effect on crypto? The only things the government cares about is you paying your due taxes, and how you have distrubuted your wealth. If they know these two options are in check, they have everything needed to blackmail and control you.

I know someone personally that due to a tax dispute with the tax department, has no longer access to financial services and everything else requiring an initial background review, all because of his 'taint'. It's a legal form of blackmailing someone to get him to do something, which in this case is to having him pay his due taxes. The government itself is the biggest ever criminal, we don't need them to protect us, we can take care of ourselves.

East2011

member

Activity: 454

Merit: 10

"Reserve Your Ledger at GYMLEDGER.COM"

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 it is a good idea. As long as the tax they get will make cryptocurrency more safer and protected from all scammers and other criminals.

localcrypto

member

Activity: 287

Merit: 10

Regulating Crypto Taxation is the first step towards crypto legality any government should concentrate on instead of banning crypto regulation is most important

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

It is a very bad idea. Governments have a very bad habit to implement taxes on certain things and then that tax income are then re-channelled to something else. You will for instance get a new tax on "sugar" for instance and that tax will go into the regulation of the "sugar" intake of people to prevent obesity.

After a year or two, you will find that the government needed funds to repair the roads and that the collective income from taxes, went to the repair of the roads and not to it's intended purpose. The same thing will happen to "Crypto" taxes. Roll Eyes

Cosbycoin

hero member

Activity: 980

Merit: 506

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 totally irrelevant because we are running away from taxes and you are asking about tax in crypto is bad for crypto users. Crypto users are investing because it is tax free and is negligible as compared to other currencies. People leave fiat due to the tax and bad transaction system and now the given suggestion will make people to run from crypto as well like they ran from fiat.

Findingnemo

hero member

Activity: 2366

Merit: 793

Bitcoin = Financial freedom

Quote from: ladydark on May 06, 2018, 09:54:51 AM

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?

If the government levy taxes for each and every time we convert bitcoin to fiat and vice versa,then we would not be able to bare that huge tax and that's why,many countries have laid taxes only when we withdraw cryptos from exchange and not for every transaction.Also even by not implementing taxes,government could take steps to safeguard investors interests from scammers.

Taxes on crypto currency are right think but the government will not support for that but we need to something for that to develop crypto currencies so taxes are right but need some regulation for that.

kwarto

newbie

Activity: 168

Merit: 0

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 love the idea! that's means security of our investment. If government will come to aid us in determining the scam project and.jail those responsible to cheat our investment then I think that would be great... Government protection is our strongest weapon against evil people that aims to get our money and run afterwards.

ladydark

hero member

Activity: 686

Merit: 500

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?

If the government levy taxes for each and every time we convert bitcoin to fiat and vice versa,then we would not be able to bare that huge tax and that's why,many countries have laid taxes only when we withdraw cryptos from exchange and not for every transaction.Also even by not implementing taxes,government could take steps to safeguard investors interests from scammers.

misterj

full member

Activity: 434

Merit: 100

I do not think that putting tax is neccessary in cryptocurrency and I think that you do not know any about the blockchain technology. I prefer you to read it before thinking such ideas. Blockchain technology is currently the safest and advanced security program that makes cryptocurrency immune to such ideas but not human error.

Bitcoincole

full member

Activity: 504

Merit: 102

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 could be a very nice idea actually. But sad to say few countries who have implement cryptocurrency to be accepted by the government as a second national currency in there country. In other words it takes a long way to process due to different function between the real economic vs. digital economic system world wide.

Direwolve735

full member

Activity: 448

Merit: 232

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 like the idea of focusing on crypto environment, but I do not think that the government should implement it. The сrypto currency was created with the aim of eliminating intermediaries and transferring powers directly to the participants of the crypto community. I believe that all functions should be performed by them. It will not be easy and quick, but we can implement technologies that will make each member of the crypto-currency world responsible for the crypto-environment.

gambitcoin53

member

Activity: 378

Merit: 25

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?

Bad idea, there are fees implemented by exchanges and i believe that it is already taxed which exchangers are passing it on consumers that is why we have a high cost of fees when we convert or exchange it to fiats or other crypto. Govts has nothing to do with it, and now you are suggesting that govt should impose tax on transacting? Bad idea. Imagine how much fees we have to pay, it is doubled tax cost.

mylyn2327

member

Activity: 294

Merit: 12

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's good if the government really want to help and give protection the crypto community. It will be best if they will assign crypto experts who really understand it well. And if it will happen hoping scammers will be gone too.

Koadharber

hero member

Activity: 1065

Merit: 510

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?

Possible but the essence of decentralization would completely be changed if government would really implement those things but well we do all know that we can still evade tax and make out cashout without their notice or awareness.If we do make use exchangers which do comply on government rules then we don't have any choice and if those tax would meant to be used on the things you had mentioned.I don't still have the trust that they would really emphasize on making a crypto environment.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: stevegee58 on May 06, 2018, 08:01:17 AM

The true purpose of cryptocurrencies is libertarianism and disintermediation. Big centralized government is the opposite of this.

It's not necessarily against crypto, where on the other hand, it's even impossible for governments to stay out with how crypto is growing larger and larger.

I am all in favor of more decentralization, but we can't force anyone to join in on that when they don't mind using centralized environments and have the government 'watch' every possible activity in this market. Important to understand is that we have the option to use something that isn't subject to regulations if we don't want to, and that's what we should be focusing on; what others are doing is none of our business.

Another important factor is that with how the market is maturing more and more, the investors entering the market are likely institutions, hedge funds, wealthy traditional investors, etc. These entities have all been part of the traditional market under the supervision of their government and regulators, and thus they fall outside the decentralized boat; governments and regulators for them offer security and stability. We'll be dealing with a different group of investors in the forthcoming years.

stevegee58

legendary

Activity: 916

Merit: 1003

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's a horrible idea. Government is the problem, not the solution to problems.
The true purpose of cryptocurrencies is libertarianism and disintermediation. Big centralized government is the opposite of this.

Javeron

newbie

Activity: 12

Merit: 0

It would be a lot more safer. Spams and phishings will be gone so that it means having a more comfortable experience and a more ensured business. Spams and Phishings costs a lot more moneyband specially produces more stress than government Taxes.

Qungis

newbie

Activity: 77

Merit: 0

If you earn, then you won't have a problem paying taxes on your income. Most importantly, learn to earn.

dollarneed

hero member

Activity: 742

Merit: 500

It is a good idea though I don't like if crypto is taken and controlled by the government, it just against the concept of the decentralized.

Quote from: faceoff97 on May 06, 2018, 06:07:41 AM

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.

Yes you are right, if you used centralized exchange and the exchange has been regulated by the government then your it's already taxed, our transaction in crypto it can be taxed if it is traded for cash or other cryptocurrency or whenever cryptocurrency is used to purchase something. However, as long as you use decentralized exchange then it can't be taxed.

cryptoalfs76

full member

Activity: 406

Merit: 100

▰▰▰ MODULE ▰▰

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?

If that law implemented by the world government and make a sector to protect us in scam and fishing ICO,and in return the government add tax whenever we transact a crypto exchange,i thinks i'll be aggreeable that kind of government law,as long as they are true to there purpose to protect us,in those scam ICO or phishing project and not only doing like as crab mentality,active in first but in the end they will left us.

kaya11

full member

Activity: 1344

Merit: 110

SOL.BIOKRIPT.COM

I think there are organization like that are already running and keep tracking of your transactions, you just don't know but they are keeping the record maybe for future use. Hope it will not be used against us, you know people from the government do certain jobs under the hood, yet you don't know what is happening and first thing in the morning you are now at jail.

Bugsbey

newbie

Activity: 182

Merit: 0

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 it will depend on who and how they run the government. Like in our country, in almost all of transactions we pay tax. And who are the ones more benefited with these taxes?

semobo

full member

Activity: 1498

Merit: 146

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

member

Activity: 224

Merit: 19

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

full member

Activity: 644

Merit: 113

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

hero member

Activity: 1274

Merit: 516

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

hero member

Activity: 1666

Merit: 753

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

newbie

Activity: 240

Merit: 0

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

full member

Activity: 462

Merit: 100

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

full member

Activity: 1330

Merit: 147

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

jr. member

Activity: 168

Merit: 5

Now You Can Be The Bookmaker!

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

legendary

Activity: 2702

Merit: 4002

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

jr. member

Activity: 210

Merit: 1

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

zander09

full member

Activity: 546

Merit: 100

CryptoTalk.Org - Get Paid for every Post!

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

sr. member

Activity: 784

Merit: 282

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

full member

Activity: 2520

Merit: 214

Eloncoin.org - Mars, here we come!

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

newbie

Activity: 56

Merit: 0

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

newbie

Activity: 112

Merit: 0

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

sr. member

Activity: 1050

Merit: 250

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

legendary

Activity: 1596

Merit: 1034

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

legendary

Activity: 1232

Merit: 1091

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

legendary

Activity: 3024

Merit: 2148

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.

seoincorporation

legendary

Activity: 3346

Merit: 3125

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 will need a non-corrupted-government to be a reality. I'm afraid this is going to be very difficult to achieve in so many countries, despite it is a great idea, for the current situation in too many places is corruption as a daily reality.
Anyway, taxes are already being applied in some countries, as long as the crypto convert into fiat and depending on the amount you get in the transaction. For instance, in Spain, you will need to pay taxes if your crypto selling activity is more than 1000 euros, as far as I know. But, of course, the taxes are not invested in any activity related to crypto security.

osh5

newbie

Activity: 29

Merit: 0

I think it's a great idea. Already transactions from Visa are not tax free and charges are included.
Moreover crypto transactions require special care and vigilance and if government of any country doesn't want to spend extra prices for it, they can charge people for every transactions ensuring safety and security for their money.

fiulpro

hero member

Activity: 1890

Merit: 831

Well, the tax that you are talking about is something that is more or less already implied. When you get your bitcoins or for that matter cryptocurrency exchanged for your local money, the gains are take as capital gains which comes under the lens of taxation.

In most countries the profit that you make by trading or holding bitcoins are also seen as a capital gain, which again comes under taxation process. So your profit is anyways taxed, now whether the taxed amount is used in you protection and security or not is what the government knows.

bengsabeng

full member

Activity: 742

Merit: 102

that's a pretty brilliant idea. but to do that the government needs expert cryptocurrency. especially now there is still no rule for cryptocurrency.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

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?

Depending on the regulations in your country you should already be paying those taxes, there is no need for the government to create a special tax because you are already due your taxes to begin with, second while what you are suggesting is not a terrible idea you will need to governments to accept cryptocurrencies completely for that to happen, but do you think that they want more people to use cryptocurrencies? Because I don't think so, that makes very unlikely that they're going to create something like that.

lushlife

newbie

Activity: 280

Merit: 0

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?

Topic: tax for a safer crypto environment (Read 425 times)