Why bitcoins illegal ???? - page 2. | Bitcointalksearch.org

Sithara007

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Quote from: Pamadar on February 23, 2017, 10:42:51 AM

that's right they are panning to put taxes with exchange so they can benefits with btc, might be much better instead of banning bitcoin we should be happy if government will place some actions to make some earnings too like taxing local exchange in our respective countries in this way adoption or recognizing bitcoin will be much possible in every nations.

That depends on the government. If they think that the benefits (tax revenue, reduction of crime.etc) will be more than the drawbacks (tax evasion, dark markets.etc), then they will legalize and regulate the Bitcoins.

Star.Wars

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Quote from: Xester on February 22, 2017, 09:19:29 AM

Quote from: Star.Wars on February 21, 2017, 07:14:13 AM

Quote from: Sithara007 on February 19, 2017, 02:50:33 AM

Quote from: Star.Wars on February 18, 2017, 04:50:59 PM

Quote from: innocentbee on September 08, 2016, 12:58:15 AM

why bitcoin is still illegal in many countries of world Huh

Is there any solid reason behind this ??/

The prohibition of bitcoins by some states is a problem of those states. Bitcoin is a legal system. States illegally define everything they can not control.
But the bitcoin can not be removed from the ban.

Bitcoin can't be banned. That is the problem. It is not a physical asset, and therefore the government can't prevent its entry or exit from their jurisdiction. Also, unless the coins are converted to fiat, the authorities can't track them.

Yeah. That's why the states do not like bitcoin. Because they can not get tax from the money earned with bitcoin. Only when they are converted into cash and transferred to the bank account.

But in the future we can use bitcoin without converting it to money. Then they will not be able to follow in any way.

In the future if we can use our bitcoin without converting it to money the government will also adopt to the situation. Taxes will still be placed and taxation on cryptocurrency will also upgrade. Let us not underestimate the governments authority and resources since they are capable of many things including monitoring every transactions on your secret wallet.

They can tax when they control their bitcoin earnings. For example, a supermarket has to mention how much it sells. The arrival price of the products and the selling prices of the products are certain. He has to show his earning correctly. It has to show how much sales are done with bitcoin.
When all this information is given, he will have to pay the necessary taxes.

So someone who opens a business has to pay his tax.

Pamadar

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Quote from: Jannn on February 23, 2017, 01:54:19 AM

Quote from: bryant.coleman on February 22, 2017, 08:00:37 AM

Even if you use Bitcoins directly (for supermarket purchases, utility bills, buying gasoline.etc), it can be taxed. The government can just ask the retail chain to impose a surcharge on the Bitcoin payments. So if you are paying with BTC, there will be a 2% or 3% surcharge, and this amount will go to the government as tax.

Interesting point dude.
Some governments and countries recognize Bitcoin but they make a regulations that they will benefit it like inputting taxes from exchanges.

that's right they are panning to put taxes with exchange so they can benefits with btc, might be much better instead of banning bitcoin we should be happy if government will place some actions to make some earnings too like taxing local exchange in our respective countries in this way adoption or recognizing bitcoin will be much possible in every nations.

bryant.coleman

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Quote from: Jannn on February 23, 2017, 01:54:19 AM

Quote from: bryant.coleman on February 22, 2017, 08:00:37 AM

Even if you use Bitcoins directly (for supermarket purchases, utility bills, buying gasoline.etc), it can be taxed. The government can just ask the retail chain to impose a surcharge on the Bitcoin payments. So if you are paying with BTC, there will be a 2% or 3% surcharge, and this amount will go to the government as tax.

Interesting point dude.
Some governments and countries recognize Bitcoin but they make a regulations that they will benefit it like inputting taxes from exchanges.

In such countries, there are a variety of taxes. The exchanges have to pay corporate taxes on their profits. The users have to pay VAT on their Bitcoin purchases, and capital gains tax on their profits. The employees of the exchanges have to pay income tax on their salaries, and the company will have to pay labor tax and the social security for the employees.

Jannn

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Quote from: bryant.coleman on February 22, 2017, 08:00:37 AM

Even if you use Bitcoins directly (for supermarket purchases, utility bills, buying gasoline.etc), it can be taxed. The government can just ask the retail chain to impose a surcharge on the Bitcoin payments. So if you are paying with BTC, there will be a 2% or 3% surcharge, and this amount will go to the government as tax.

Interesting point dude.
Some governments and countries recognize Bitcoin but they make a regulations that they will benefit it like inputting taxes from exchanges.

Challenger2015

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Quote from: Kotone on February 22, 2017, 09:30:55 AM

Quote from: SCCFX on February 22, 2017, 05:09:55 AM

bitcoin not ilegal but not yet regulation

If your country recognize bitcoin it will never be illegal it will be always legal specially to those users there are countries that dont recognize bitcoin where they accused bitcoin as ditigal scam investment online but here in my country they already accept bitcoin and yet we are happy earning and saving coins.

Tell me what country you live in? If it is not a secret. I have not heard that anywhere in the world to officially recognize bitcoin. It seems to me that he still has no official status currency. What Bank will officially open an account in bitcoin? Only the Internet resources that are not state facilities.

Kotone

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Quote from: SCCFX on February 22, 2017, 05:09:55 AM

bitcoin not ilegal but not yet regulation

If your country recognize bitcoin it will never be illegal it will be always legal specially to those users there are countries that dont recognize bitcoin where they accused bitcoin as ditigal scam investment online but here in my country they already accept bitcoin and yet we are happy earning and saving coins.

Xester

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Quote from: Star.Wars on February 21, 2017, 07:14:13 AM

Quote from: Sithara007 on February 19, 2017, 02:50:33 AM

Quote from: Star.Wars on February 18, 2017, 04:50:59 PM

Quote from: innocentbee on September 08, 2016, 12:58:15 AM

why bitcoin is still illegal in many countries of world Huh

Is there any solid reason behind this ??/

The prohibition of bitcoins by some states is a problem of those states. Bitcoin is a legal system. States illegally define everything they can not control.
But the bitcoin can not be removed from the ban.

Bitcoin can't be banned. That is the problem. It is not a physical asset, and therefore the government can't prevent its entry or exit from their jurisdiction. Also, unless the coins are converted to fiat, the authorities can't track them.

Yeah. That's why the states do not like bitcoin. Because they can not get tax from the money earned with bitcoin. Only when they are converted into cash and transferred to the bank account.

But in the future we can use bitcoin without converting it to money. Then they will not be able to follow in any way.

In the future if we can use our bitcoin without converting it to money the government will also adopt to the situation. Taxes will still be placed and taxation on cryptocurrency will also upgrade. Let us not underestimate the governments authority and resources since they are capable of many things including monitoring every transactions on your secret wallet.

ValeryBark

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Quote from: Text on February 22, 2017, 08:38:47 AM

Bitcoin is not illegal in countries which it is being recognized. Government's bank is making now a move to start accepting bitcoin as a currency. We know they are interested just for the tax, on the other hand they can also help this to develop for the sake of all sectors and make it successful with their connections.

I disagree with you. In addition to taxes the government is able to manage the monetary policy of the state. This allows you to fight inflation and in time to withdraw from circulation the extra money. In addition, when recession can make the issue. How to do it with bitcoin? No States are not interested in bitcoin even if they would pay taxes.

Text

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Bitcoin is not illegal in countries which it is being recognized. Government's bank is making now a move to start accepting bitcoin as a currency. We know they are interested just for the tax, on the other hand they can also help this to develop for the sake of all sectors and make it successful with their connections.

Marcus_2017

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Quote from: bryant.coleman on February 22, 2017, 08:00:37 AM

Quote from: Star.Wars on February 21, 2017, 07:14:13 AM

Yeah. That's why the states do not like bitcoin. Because they can not get tax from the money earned with bitcoin. Only when they are converted into cash and transferred to the bank account.

But in the future we can use bitcoin without converting it to money. Then they will not be able to follow in any way.

Even if you use Bitcoins directly (for supermarket purchases, utility bills, buying gasoline.etc), it can be taxed. The government can just ask the retail chain to impose a surcharge on the Bitcoin payments. So if you are paying with BTC, there will be a 2% or 3% surcharge, and this amount will go to the government as tax.

In any case, the 2-3% is less than to pay the taxes in full. I am sure that the government while turning a blind eye is not the use of bitcoins because the volume of use as not affect the economy. While using bitcoins is profitable only to the exchangers.

bryant.coleman

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Quote from: Star.Wars on February 21, 2017, 07:14:13 AM

Yeah. That's why the states do not like bitcoin. Because they can not get tax from the money earned with bitcoin. Only when they are converted into cash and transferred to the bank account.

But in the future we can use bitcoin without converting it to money. Then they will not be able to follow in any way.

Even if you use Bitcoins directly (for supermarket purchases, utility bills, buying gasoline.etc), it can be taxed. The government can just ask the retail chain to impose a surcharge on the Bitcoin payments. So if you are paying with BTC, there will be a 2% or 3% surcharge, and this amount will go to the government as tax.

SCCFX

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bitcoin not ilegal but not yet regulation

Star.Wars

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Quote from: Casanova18 on February 21, 2017, 07:47:38 AM

Quote from: Star.Wars on February 21, 2017, 07:14:13 AM

Quote from: Sithara007 on February 19, 2017, 02:50:33 AM

Quote from: Star.Wars on February 18, 2017, 04:50:59 PM

Quote from: innocentbee on September 08, 2016, 12:58:15 AM

why bitcoin is still illegal in many countries of world Huh

Is there any solid reason behind this ??/

The prohibition of bitcoins by some states is a problem of those states. Bitcoin is a legal system. States illegally define everything they can not control.
But the bitcoin can not be removed from the ban.

Bitcoin can't be banned. That is the problem. It is not a physical asset, and therefore the government can't prevent its entry or exit from their jurisdiction. Also, unless the coins are converted to fiat, the authorities can't track them.

Yeah. That's why the states do not like bitcoin. Because they can not get tax from the money earned with bitcoin. Only when they are converted into cash and transferred to the bank account.

But in the future we can use bitcoin without converting it to money. Then they will not be able to follow in any way.

This is just one of the reasons. Another reason is that the government does not control the number of bitcoins in circulation and cannot use the issue to manage the economy of the state. Additionally, bitcoin is a direct competitor to the dollar, and who let it? But there is good news. Until they do not consider bitcoin a currency, the taxes he no need to pay.

But in the future I think that the states will go to a system like bitcoin. They will create a system in which Bitcoin will become centralized and controlled.
Especially the blockchain technology is being examined by the finance sector. States can do something like this because of its fast and secure nature.

brokens

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because bitcoin might be considered a gamble, but they do not know that bitcoin is a livelihood to make money by not gambling or stealing.

Casanova18

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Quote from: Star.Wars on February 21, 2017, 07:14:13 AM

Quote from: Sithara007 on February 19, 2017, 02:50:33 AM

Quote from: Star.Wars on February 18, 2017, 04:50:59 PM

Quote from: innocentbee on September 08, 2016, 12:58:15 AM

why bitcoin is still illegal in many countries of world Huh

Is there any solid reason behind this ??/

The prohibition of bitcoins by some states is a problem of those states. Bitcoin is a legal system. States illegally define everything they can not control.
But the bitcoin can not be removed from the ban.

Bitcoin can't be banned. That is the problem. It is not a physical asset, and therefore the government can't prevent its entry or exit from their jurisdiction. Also, unless the coins are converted to fiat, the authorities can't track them.

Yeah. That's why the states do not like bitcoin. Because they can not get tax from the money earned with bitcoin. Only when they are converted into cash and transferred to the bank account.

But in the future we can use bitcoin without converting it to money. Then they will not be able to follow in any way.

This is just one of the reasons. Another reason is that the government does not control the number of bitcoins in circulation and cannot use the issue to manage the economy of the state. Additionally, bitcoin is a direct competitor to the dollar, and who let it? But there is good news. Until they do not consider bitcoin a currency, the taxes he no need to pay.

Star.Wars

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Quote from: Sithara007 on February 19, 2017, 02:50:33 AM

Quote from: Star.Wars on February 18, 2017, 04:50:59 PM

Quote from: innocentbee on September 08, 2016, 12:58:15 AM

why bitcoin is still illegal in many countries of world Huh

Is there any solid reason behind this ??/

The prohibition of bitcoins by some states is a problem of those states. Bitcoin is a legal system. States illegally define everything they can not control.
But the bitcoin can not be removed from the ban.

Bitcoin can't be banned. That is the problem. It is not a physical asset, and therefore the government can't prevent its entry or exit from their jurisdiction. Also, unless the coins are converted to fiat, the authorities can't track them.

Yeah. That's why the states do not like bitcoin. Because they can not get tax from the money earned with bitcoin. Only when they are converted into cash and transferred to the bank account.

But in the future we can use bitcoin without converting it to money. Then they will not be able to follow in any way.

Sithara007

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Activity: 3276

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Leading Crypto Sports Betting & Casino Platform

Quote from: Star.Wars on February 18, 2017, 04:50:59 PM

Quote from: innocentbee on September 08, 2016, 12:58:15 AM

why bitcoin is still illegal in many countries of world Huh

Is there any solid reason behind this ??/

The prohibition of bitcoins by some states is a problem of those states. Bitcoin is a legal system. States illegally define everything they can not control.
But the bitcoin can not be removed from the ban.

Bitcoin can't be banned. That is the problem. It is not a physical asset, and therefore the government can't prevent its entry or exit from their jurisdiction. Also, unless the coins are converted to fiat, the authorities can't track them.

ethereumhunter

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Quote from: J Gambler on February 18, 2017, 10:24:29 AM

Quote from: innocentbee on September 08, 2016, 12:58:15 AM

why bitcoin is still illegal in many countries of world Huh

Is there any solid reason behind this ??/

The reason behind this is they don't want their economics will be encountered with bitcoin , goverments wanting to banned bitcoin for life because they believed that this coin will scam people in the end. Also goverments don't want other currency to be use on their countries.

maybe its because bitcoin is not accepted by many country, i think the other reason is the government can not make profit for using bitcoin and if they want to get profit, they should make regulation for accepting bitcoin and they should make their currencies so they can push people to using their currency too.

Star.Wars

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Quote from: innocentbee on September 08, 2016, 12:58:15 AM

why bitcoin is still illegal in many countries of world Huh

Is there any solid reason behind this ??/

The prohibition of bitcoins by some states is a problem of those states. Bitcoin is a legal system. States illegally define everything they can not control.
But the bitcoin can not be removed from the ban.

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