Topic: wordwide government to regulate /tax BITCOIN ? - page 2. (Read 2770 times)
world govt cant control or tax it unless you report yourself your bitcoin income/accounts
One way to tax bitcoin will be to require ISPs to track Internet access and bitcoin transactions. But many people will always find a way to access their wallets anonymously.
But you can rest assure that states will find a way to tax the major part of its residents for bitcoin transactions if they start to see their financial situation in danger because of tax evasion, if bitcoin goes mainstream.
But it won't be easy and massive adoption will make it even harder.
But you can rest assure that states will find a way to tax the major part of its residents for bitcoin transactions if they start to see their financial situation in danger because of tax evasion, if bitcoin goes mainstream.
But it won't be easy and massive adoption will make it even harder.
It's insanely hard to tax a currency you can't seize.
They can trace the transactions and possibly find out which address belongs to whom, but actually forcing them to pay up will be next to impossible.
Of course they can threaten with jail, but they'd have to prove they know which owner the wallet belongs to, and to prove it they have to admit they have been spying on us on a large scale and that may trigger revolts.
Also, if taxes are too high and the government refuses to do things for society (like they are doing now already, increase taxes all around and cutting spending all around at the same time) they might not be able to find enough co-operation to even finance the police and/or the army anymore. And then they will have nothing on us anymore.
They can trace the transactions and possibly find out which address belongs to whom, but actually forcing them to pay up will be next to impossible.
Of course they can threaten with jail, but they'd have to prove they know which owner the wallet belongs to, and to prove it they have to admit they have been spying on us on a large scale and that may trigger revolts.
Also, if taxes are too high and the government refuses to do things for society (like they are doing now already, increase taxes all around and cutting spending all around at the same time) they might not be able to find enough co-operation to even finance the police and/or the army anymore. And then they will have nothing on us anymore.
Those are very interesting points you have made on multiple levels.
However I think you are underestimating. None of us possess bitcoins or any other crypto currency unlike cash or gold can hold in your hand. We do not own anything, we simply have keys that let us use bitcoins, everything is in the blockchain.
We already know NSA has been spying on everyone for years. They know who I am through my IP address.
So imagine this scenario: Bitcoin becomes centralized, which it clearly can be and pretty easily, ie > 51%, something catastrophic happens, state steps up and says we need to take control of this monster or offers alternative and takes over blockchain for "the good of the people." Now can impose forfeiture and will all be voluntary. Rescue me.
Paragraph above pure speculation.
However, I do think ultimate intent is to take control of blockchain. How this will be done I do not know and can only speculate.
This i am convinced of, states want to move society to blockchain. Surrender all assets to the blockchain. This will enable consumption tax, asset tracking etc. Logical step before hand would be taking full control of blockchain which will give society (the masses) total confidence in blockchain aka the state.
I think this is massive social engineering to get people to voluntarily abandon debt based fiat currency and give states more power and control.
Carrot and stick. Bitcoin and blockchain will enable X but also enable states to do Y.
I also think this is a long term project...
It's insanely hard to tax a currency you can't seize.
They can trace the transactions and possibly find out which address belongs to whom, but actually forcing them to pay up will be next to impossible.
Of course they can threaten with jail, but they'd have to prove they know which owner the wallet belongs to, and to prove it they have to admit they have been spying on us on a large scale and that may trigger revolts.
Also, if taxes are too high and the government refuses to do things for society (like they are doing now already, increase taxes all around and cutting spending all around at the same time) they might not be able to find enough co-operation to even finance the police and/or the army anymore. And then they will have nothing on us anymore.
They can trace the transactions and possibly find out which address belongs to whom, but actually forcing them to pay up will be next to impossible.
Of course they can threaten with jail, but they'd have to prove they know which owner the wallet belongs to, and to prove it they have to admit they have been spying on us on a large scale and that may trigger revolts.
Also, if taxes are too high and the government refuses to do things for society (like they are doing now already, increase taxes all around and cutting spending all around at the same time) they might not be able to find enough co-operation to even finance the police and/or the army anymore. And then they will have nothing on us anymore.
no you can't do that, ever, i can create infinite wallets with infinite addresses, good luck tracking them all, when i'm using proxy and other shit to hide my identity, it's virtually impossible
Well I think it will become law with harsh penalties and retroactive.
they can't tax it directly, so until you don't convert, your are safe
I think you are misguided. Once BTC gets big enough, it will be easy for the state to takeover. Your identity will be tied to your wallet and
you will be automatically and instantly taxed. The coming consumption tax as explained by Jon Matonis and others. Based on what Marc Andressen has said, expect this in 2016.
The US Government is laying the groundwork for this right now:
"New Massive Federal Database to Hold Financial Information on Hundreds of Millions of Americans"
http://libertyblitzkrieg.com/2014/05/30/new-massive-federal-database-to-hold-financial-information-on-hundreds-of-millions-of-americans/
The good news is...we are likely going to 10k in 2016!
no you can't do that, ever, i can create infinite wallets with infinite addresses, good luck tracking them all, when i'm using proxy and other shit to hide my identity, it's virtually impossible
also Bitcoin is aiming to anon too, via sidechain
Yes, taxing bitcoins will be a hard challenge for the State, especially if bitcoin becomes mainstream.
I think you are misguided. Once BTC gets big enough, it will be easy for the state to takeover. Your identity will be tied to your wallet and
you will be automatically and instantly taxed. The coming consumption tax as explained by Jon Matonis and others. Based on what Marc Andressen has said, expect this in 2016.
The US Government is laying the groundwork for this right now:
"New Massive Federal Database to Hold Financial Information on Hundreds of Millions of Americans"
http://libertyblitzkrieg.com/2014/05/30/new-massive-federal-database-to-hold-financial-information-on-hundreds-of-millions-of-americans/
The good news is...we are likely going to 10k in 2016!
no you can't do that, ever, i can create infinite wallets with infinite addresses, good luck tracking them all, when i'm using proxy and other shit to hide my identity, it's virtually impossible
also Bitcoin is aiming to anon too, via sidechain
It's easier to control hundred of millions users than one million and it will be very easy to link every person to his wallet?... sure, when everyone can create several wallets, especially, with the new anonymous developments, like in darkcoin, that soon or later will be incorporated in bitcoin.
Darkcoin will never be incorporated in bitcoin. We already know the bitcoin foundation is working hand in hand with the state.
Once btc crosses 3k that will be all the excuse state needs to insist all wallets tied to id.
FACTA comes into effect July 1st 2014.
http://americansabroad.org/issues/fatca/fatca-bad-america-why-it-should-be-repealed/
FATCA Explained in 4 Minutes...
https://www.youtube.com/watch?v=Y-EVF7CZt_w
July 1st 2014 "FACTA" Bill will help Destroy Dollar
https://www.youtube.com/watch?v=8hTIoSEnk5Q
As much as governments love to tax their citizens, I think they know that at this point it would be too costly and they would have to devote too many resources vs. the amount of tax revenues that they will actually get from cryptos so far.
As market caps rise, so will the pressure for taxes.
As market caps rise, so will the pressure for taxes.
It's easier to control hundred of millions users than one million and it will be very easy to link every person to his wallet?... sure, when everyone can create several wallets, especially, with the new anonymous developments, like in darkcoin, that soon or later will be incorporated in bitcoin.
Yes, taxing bitcoins will be a hard challenge for the State, especially if bitcoin becomes mainstream.
I think you are misguided. Once BTC gets big enough, it will be easy for the state to takeover. Your identity will be tied to your wallet and
you will be automatically and instantly taxed. The coming consumption tax as explained by Jon Matonis and others. Based on what Marc Andressen has said, expect this in 2016.
The US Government is laying the groundwork for this right now:
"New Massive Federal Database to Hold Financial Information on Hundreds of Millions of Americans"
http://libertyblitzkrieg.com/2014/05/30/new-massive-federal-database-to-hold-financial-information-on-hundreds-of-millions-of-americans/
The good news is...we are likely going to 10k in 2016!
Yes, taxing bitcoins will be a hard challenge for the State, especially if bitcoin becomes mainstream.
But since individuals and their property are still on the territory of a state, I don't think they need to cooperate more than they already do, they will just need to control more closely our use of the Internet, including the sending of bitcoins.
It will take some years, but when they start to feel the hit of tax evasion, they will act.
But since individuals and their property are still on the territory of a state, I don't think they need to cooperate more than they already do, they will just need to control more closely our use of the Internet, including the sending of bitcoins.
It will take some years, but when they start to feel the hit of tax evasion, they will act.
Don't think that is really possible ATM. What you are talking about is basically the New World Order that conspiracy theorists have been babbling about for years...
They have also been talking about a universal one world currency (which coincidentally fits the description of BTC).
They have also been talking about a universal one world currency (which coincidentally fits the description of BTC).
BITCOIN doesn't care about states .its wordwide currency used everywhere. To regulate it and tax it u need wordwide government right ?
You cant hide, any government will tax you once you convert to fiat or buy directly goods/services with Bitcoin.
Whos the world wide government? The Illuminati? I dont see how there needs to be one entity controlling it the taxation/regulation of it.
The UN or IMF I suppose. I will not comply with either.
Whos the world wide government? The Illuminati? I dont see how there needs to be one entity controlling it the taxation/regulation of it.
There is no real way to do it. The only time they can touch it is when it converts to fiat. I will certainly not voluntarily disclose my holdings to anyone, let alone to any government or international looting organization.
Taxing Bitcoin is not a easy thing for GOVERNMENT to do.
govts cant tax it unless people willingly provide info on their bitcoin spending or holdings
just like how the illegal irs works
if your work did not provide your income to the irs the irs would not know how much to tax you
irs is anti-constitutional which makes it illegal
the publics ignorance makes them pay the irs due to threats from the govt and following other people who are clueless
if you agree to random rules then you are bound to them, this is color of law
just like how the illegal irs works
if your work did not provide your income to the irs the irs would not know how much to tax you
irs is anti-constitutional which makes it illegal
the publics ignorance makes them pay the irs due to threats from the govt and following other people who are clueless
if you agree to random rules then you are bound to them, this is color of law
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Not really. Each government will have their own ways of dealing and regulating it. Most will just tax it when you exchange it for fiat cash and/or buy things with it and take their cut that way.
BITCOIN doesn't care about states .its wordwide currency used everywhere. To regulate it and tax it u need wordwide government right ?
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