Topic: Why so many Bitcoin users have fear of governments? - page 20. (Read 1670 times)
Governments will try to control it, ban it or whatever. But considering adoption, they should find one way with BTC in the future.
Maybe because governments wants to be one who control bitcoins. Then after that they can implement a law that it will be taxed. And also im afraid because im only have a little income in bitcoin then if it will be taxed then i will not gain anymore income. All the income that i will receive will go on the tax that i will pay.
Governments by definition cannot control Bitcoin. Controlling currency means that you can manage circulating supply by releasing new bills into circulation or taking them out of it. They cannot do that with Bitcoin. However they can theoretically obtain more than 50% of all bitcoins and this way they could manipulate the price.They can also tax it, yes, but this would only cause price crash, while functionality of bitcoin would not be harmed.
Bitcoin users have fear of governments because politicians can`t secure the future of cryptocurrencies. There`s neither universal law basis for it nor some kind of global understanding how cryptocurrencies work. Governments want to stay focused on money but cryptofuture is coming faster than they expect.
Governments are the policy makers and they decide what is operational within their borders and what is not. Bitcoin has been claimed to pose a threat to the national economies due to the fact that its free and untaxed which most governments don't like. The worry of a bitcoin user is waking up to a day when the governments have completely banned BTC or heavily regulates it that makes it impossible for it to earn proper returns, this will mean that all the investment and hard work goes to waste as BTC will no longer be valuable.
Maybe because governments wants to be one who control bitcoins. Then after that they can implement a law that it will be taxed. And also im afraid because im only have a little income in bitcoin then if it will be taxed then i will not gain anymore income. All the income that i will receive will go on the tax that i will pay.
I would say because they fear of having to pay taxes on what bitcoin they have bought or sold in the recent months their governments have been asking them to report these transactions.
In India they have done it and middle of last year the US has done it through coinbase with the IRS asking for all documentation from its user base.
Also governments can twist bitcoin to their own purpose of what to do with it.
Just look at Venezuela.
In India they have done it and middle of last year the US has done it through coinbase with the IRS asking for all documentation from its user base.
Also governments can twist bitcoin to their own purpose of what to do with it.
Just look at Venezuela.
Its simple. Many bitcoin ivnestors buyed bitcoin very cheap and got now a huge profit. So they want to keep this profit. But theres possible that some gouverments want to take this profit away from them. Maybe they will bann bitcoins in there countrys. Or even worse, maybe they will set really high taes to bitcoin and other crptocurrencies. So why should anybody who was smart enough to invest in a future technology give almost they whole assets away just because a gouverment is jelouse and want to make profit too?
I agree with you on this. Bitcoin users are always afraid of government decisions about bitcoin. The government's decision to forbid bitcoin will cause prices to go down and this has a direct impact on the bitcoin user's profits. In the future, I think there will be tax decisions applied to bitcoin so that governments will accept it and bitcoin users will less worry
Governments also want to make money with bitcoin. Bitcoin is an asset that makes people easily.
A system where money transfer can not be followed. That's why governments are against bitcoin.
If Bitcoin is legalized, their prices will not rise much if the deficits are closed.
A system where money transfer can not be followed. That's why governments are against bitcoin.
If Bitcoin is legalized, their prices will not rise much if the deficits are closed.
I can't escape to notice that many users here on forum have terrible rebbelious fear of governments. Like government is some evil devil that will destroy Bitcoin and other cryptocurrencies. But is this realy so, do such claims have any reasonable ground at all?
To my opinion the cause for something like that is again ignorance. I think that regulation that is mentioned in many countries is often mixed with centralization which is something that is not natural to Bitcoin because it's functioning totaly different than fiat currencies. Also some warnings to people that Bitcoin is volatile and risky investment that come from national banks are often interpretated as hostile behaviour towards Bitcoin and attempts to make people not to use it.
Is there any hope that Bitcoin users and governments will find the common language and help Bitcoin together to be more accepted in economy, especialy by businesses and to become more "legal" everywhere?
To my opinion the cause for something like that is again ignorance. I think that regulation that is mentioned in many countries is often mixed with centralization which is something that is not natural to Bitcoin because it's functioning totaly different than fiat currencies. Also some warnings to people that Bitcoin is volatile and risky investment that come from national banks are often interpretated as hostile behaviour towards Bitcoin and attempts to make people not to use it.
Is there any hope that Bitcoin users and governments will find the common language and help Bitcoin together to be more accepted in economy, especialy by businesses and to become more "legal" everywhere?
I think why some bitcoin users has been afraid to governments because they think that the government can destroy the bitcoin in their country, So their bitcoin are lost if the government ban the bitcoin in their country or destroy the bitcoin. I don't want to become ban the bitcoin because the bitcoin is my only source of income and the bitcoin help me to help my family in our daily expenses or daily needs.
yes you are right many bitcoin users are frightened by the government because bitcoin users put the assets he has in bitcoin when bitcoin prohibits the movement of bitcoin hence the bitcoin price is sure to collapse. but users should not be afraid of the government.
Theres only one reason why those users that afraid of governments is about TAXATION ,because of so much love of their profit,they dont wanna give the government a piece of cakes,and those people that agraid tl be tracked maybe they are doing something fishy about their money,because if we are really fair and law follower we must know that in every amount that we gain,theres a tax obligation for the government
I agree when it comes to paying taxes, Bitcoin investors have a history of being evasive. The IRS last year successfully sued Coinbase, a leading cryptocurrency exchange, for access to customer records after only 802 people reported gains or losses from Bitcoin in 2015. (A court last fall ordered Coinbase to identify more than 14,000 customer accounts to the IRS.)
The other reason is because government can make any decision regarding bitcoin which impact the exixtance of bitcoin itself. So maybe this the reason.
For very obvious reasons that huge currency in anyone's wallet will attract attention. Government may also want to earn the taxes from the bitcoins we earned so it may change rules, regulations owing to profits of cryptocurrency. These apprehensions are in the minds of people what if the government ban this currency, everything is in the hands of our system.(government)
definitely there are lots of fear in bitcoin users specially in India because the Indian government notice the all the banks to stop all the transaction related to crypto currency within 3 months.
the solution to this is instead of all of us being guilty to invest in BTC so you can earn more FIAT
Maybe it be best to consider to just invest to earn more into another Crypto that you could use for peer to peer.
Maybe it be best to consider to just invest to earn more into another Crypto that you could use for peer to peer.
Governments hold the fate of Bitcoins in their hands, They can make policies that can either destroy Bitcoin or make it better and prosper, if the governments prohibit the use of BTC world wide, it will lose relevance and hence fade off and die, If the governments legalize it then that will be its key to success. The future if BTC depends on the government policies
Since there are people who use bitcoin for illegal transactions, users who are not doing bad may be affected as well. This might result in banning bitcoins. It can't be avoided after all.
Yep, the government will always win, and I believe if those scams continues to spread around cryptoworld this market is in risk. We have nothing to fear as long as we do nothing, and I hope regulations will happen so we can easily attract those scammers.
This is because the government has the authority to take legal actions if you are investing in bitcoins even after ban. No one would like to go to jail for his bitcoin investment.
Well only those who use this market in negative things should really be scared, time will come and the karma of those people will happen.
Government regulations is inevitable. It’s just a matter of time. Bitcoin can’t become mainstream without recognition. Some people still think of bitcoins as a scam or a Ponzi Scheme because it is not regulated. How can KFC or Amazon accept bitcoins as payment without going through the tax system? It’s not like all governments are out there to do bad things on their citizens.
They fear the government because of the government or make rules that make it difficult for investors, so they hesitate to enforce those rules. In my opinion we have nothing to fear. The current Crypto market is anonymous.
I can't escape to notice that many users here on forum have terrible rebbelious fear of governments. Like government is some evil devil that will destroy Bitcoin and other cryptocurrencies. But is this realy so, do such claims have any reasonable ground at all?
To my opinion the cause for something like that is again ignorance. I think that regulation that is mentioned in many countries is often mixed with centralization which is something that is not natural to Bitcoin because it's functioning totaly different than fiat currencies. Also some warnings to people that Bitcoin is volatile and risky investment that come from national banks are often interpretated as hostile behaviour towards Bitcoin and attempts to make people not to use it.
Is there any hope that Bitcoin users and governments will find the common language and help Bitcoin together to be more accepted in economy, especialy by businesses and to become more "legal" everywhere?
To my opinion the cause for something like that is again ignorance. I think that regulation that is mentioned in many countries is often mixed with centralization which is something that is not natural to Bitcoin because it's functioning totaly different than fiat currencies. Also some warnings to people that Bitcoin is volatile and risky investment that come from national banks are often interpretated as hostile behaviour towards Bitcoin and attempts to make people not to use it.
Is there any hope that Bitcoin users and governments will find the common language and help Bitcoin together to be more accepted in economy, especialy by businesses and to become more "legal" everywhere?
Governments might have some fears when their citizens start to adopt more crypto rather than the centralize money, which can be tax purpose or whatever reasons which will affect the country economy inevitably. Especially governments are able to ban crypto or adding regulations to crypto which can destroy crypto from growing in their country. To me governments is not evil but their have to protect their own gains, in the big picture government is just a human also. This should be very achievable in the future once bitcoin is able to dominate a bigger market.
A lot of bitcoin users are afraid of the government because the government have the power to ban the cryptocurrencies since they are the one who is controlling the country because of their orders or laws that they made and because of those things that they can do then they create threat for bitcoin and that is the reason for the users of the cryptocurrency not only bitcoin to be afraid to them.
Okay, let's say the state has banned bitcoin. But on the other hand we can still use bitcoin? is there a way in which the state prevents its citizens from accessing bitcoin? or can the state block blockchain networks in their countries from being accessed by us? But if the government ban by using the law, I think should move on from bitcoin. A little ridiculous if I am arrested for using bitcoin for investment. haha
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