Topic: The reality of regulation (Read 915 times)
I think the applicable quote here is this one: If it Moves, Tax it. If it Keeps Moving, Regulate it. And if it Stops Moving, Subsidize it.
Regulation is inevitable really. I'm fine with it if they just take their cut when people exchnage it for fiat. I think that's the only way they can do it.
It'll be a long time before it threatens fiat if ever unfortunately. People are just too stupid.
They care because they want their cut of the profits and that's what will happen to bitcoin.
1NpxFwWyWi9gdibJXDkYDFk9krtyiQZuq1
Quote
Very few governments care about folks buying smoke or working for cash so long as its small scale, its victimless and it costs too much to chase down so they just aren't interested.
They care because they want their cut of the profits and that's what will happen to bitcoin.
1NpxFwWyWi9gdibJXDkYDFk9krtyiQZuq1
The reality is, is that government is going to see BTC as a threat to its control over fiat. Yes BTC will be regulated in some way, shape, or form by the government. The question is, will it be effective?
"Fortunately, a technology like Bitcoin will lead humanity in its own direction, despite the most eloquent proclamations from kings of any country, or the cowed grovelling of their entranced subjects."
http://moneyandstate.com/reflections-right-privacy-response-nydfs-bitcoin-proposal/
Let's hope Mr. Vorhees is right.
http://moneyandstate.com/reflections-right-privacy-response-nydfs-bitcoin-proposal/
Let's hope Mr. Vorhees is right.
what is the problem ?
commercial received bitcoin ... do an invoice in FIAT value.
later in the month, when BTC raise, they convert in FIAT value (of the invoice) and keep the "little rest" in BTC for the old days.
commercial received bitcoin ... do an invoice in FIAT value.
later in the month, when BTC raise, they convert in FIAT value (of the invoice) and keep the "little rest" in BTC for the old days.
...
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