Bitcoin Forum

If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?

Well in as much as I am a crypto enthusiast I doubt cryptocurrency can't  get a complete global adoption there a various reasons why cryptocurrency can get a complete global adoption and even if it where to it might be forced to lose it decentralized system and become under regulation to curtail scams and fraud.

Cryptocurrency is base on a blockchain technology which means it's runs on technology there are so countries that are not technically advanced or experience a whole lot of internet service issues this can pose a hindrance in transferring crypto funds while some citizens all can be to old and stubborn to change there traditional way of transaction, also some religious beliefs can also be of hindrance.

 Cryptocurrency should have a bright future from the looks of things but it would not be easy to gain total global adoption

Even if you are not holding actual fiat anymore you are still paying taxes, how do you think businesses that accept credit/debit card payments and Paypal transfer are paying their taxes even if they are receiving money anymore? Even if these companies are accepting cryptocurrencies the government has the ability to track all the transactions done and it maybe done easier especially when blockchain is involve with cryptocurrencies. There is really no escape on paying your taxes and mass adoption would only signify that the government allowed cryptocurrencies in their country.

Same system applied on how fiat are being taxed when purchasing products. You can have an overview of what will be the supposed process if you will read and understand some stuffs about taxation. It requires long writing so I suggest to read some Economics 101 about taxation.


Government can't stopped it 100% but they can make a much more strict penalties for violators and sh*t people.

There are really people and organizations that will continue to do fraud and scams no matter what.

I believe that it's the job of the government to answer these questions, instead of subduing innovation because they are scared of how to control it. Taxes shouldn't be too hard if there are public blockchains.

Taxes will still be collected by the government as there will be receipts or invoices used to executive payments even with the cryptocurrency. I believe the government can come up with a good mechanism or strategy to ensure it collects every tax.

Easy, taxes are usually included in the prices. Cashing out had nothing to do with it. So, people who want to pay for pruducts in cryptos will pay the taxed prices already, so then things will go just like with fiat (I don't know how exactly, but some amount of cryptos will be transferred by tax wallet or something. It will also be a great way to insure transparency, by the way. The crypto wallet addresses where taxes go should be public, and so people will be able to track transactions and ask questions if they see anything suspicious. If we are talking about a private enterpreneur, taxed could be payed by transferring some amount of the crypto income to the tax paying service, so again, no issues here.

but for this to happen we must have regulations that benefit cryptos, if in the future VISA and Mastercard will accept the bitcoin debit card that work in the world for people to use crypto to make purchases and payments. But what we see now is that Visa, Mastercard and banks look at cryptos as a major obstacle to their business and they do not accept cryptos.


many people have answered this question, governments are like flies looking shit, they will always find methods to collect taxes


there are several ways to reduce scam cases, governments can create laws on how the entire ICO process should follow and the guarantees that these ICOs should give to their investors.

If cryptos will be widely adopted and can be used as FIAT then then what is the purpose from exchanging a crypto with FIAT, that suppose that cryptocurrencies become regulated and there are no restrictions about using them.
Applying taxes is the major problem and it is the main reason why governments don't accept cryptos.

One thing is for certain, once blockchain technology is adopted, Government will find a way of creating it's own digital currencies for its institutions and citizens, that way it will be able to control and tax the citizens at its will. Bitcoin may still continue to operate but it will not be the official currency adopted by the government institutions so yes, they will collect taxes from cryptos.


Has it kicked out all Ponzi schemes yet under the fiat currency adoption yet?
Do you know how long ponzi schemes have been around?
Scam will always be there in different forms. It's like corruption.. it's human greed for money. So long as money or currency is there, there will always be scams too.

After the next financial crisis, crypto currencies will be recognized as a secure payment method of payment. Already in many countries of the world they distribute peitomats. I think it is not just.

1. We only need 10%.population adoption to see price soar.
2. Tax (like many here mentioned) thats why you won't see fiat disappear.
3. When it comes to regulations, they probably can only regulate centralized cryptos.
4. Since they probably can only regulate centralized ones, decentralized crypto will gain in demand.

Very soon you will see merchants in various trades begin to adopt crypto as payment options. It will save people a hell lot of money. Afrer all, why should any human pay another human for spending his own money?

Because its difficult to tax and track... govs may increase levy on people using fiat. This will resullt in more demand in decentralized cryptos.

I do expect to see a "war" between centralized cryptos vs decentralized cryptos.

Exciting, it will be. 😊😊😊😎😎😎

They'd leverage blockchain analysis to target tax evaders, which would scare a lot of people into paying their taxes. In the US, they'll probably re-work the tax code to force crypto exchanges to send 1099s to the IRS. Maybe they'll start accepting payment in BTC as well.


They couldn't really stop people from doing those things before crypto existed. It's the same as it ever was. The SEC will issue warnings against these kinds of scams and they'll try to arrest the scammers and seize their assets.

This is a great question and also one of the reason why the government hesitate to adopt crypto, without the taxes tge country could fall down, that is why I agree that crypto being regulated, so there is a mutual benefit for all, the government could taxed the transaction, so they can collect the tax from the exchanges, and we will need to pay taxes every time we trade, or maybe the government can make regulation only one wallet for each person, by regulate it maybe we can decrease the ponzi and fraud

I agree on putting regulation in every wallet to monitor every transaction by individual users of bitcoin, but in having regulation direct to bitcoin itself I think that is impossible to happen. That is already discussed here so many times but still, Bitcoin is not to be regulated at all.
Time to time Bitcoin will be having a massive adoption and I never shocked if someday I heard that news.

If crypto becomes really big in the future(not very possible in the next 10 years),the governments will have to create their crypto wallets in order to collect crypto tax payments. ;D
However,I think that this question is asked many times before in the forum and you should search for older threads before you post.

the way to take the tax is that the government must cooperate with the crypto blockchain and smart contract to take part of the tax from each transaction made. I think it will be fair.

There is no outright laws banning pyramid and ponzi schemes in so many countries. It is left for one to be careful so as to avoid scam or fraud.

Then the Government could get the taxes from exchanges and on where we could buy crypto, then those exchanges would charge some additional charges for them to pay the taxes.

That's the reason why the government won't allow a decentralized cryptocurrency to take over fiat because they wouldn't be able to control it. Unlike what is happening with fiat wherein they can control and trace the people behind the transactions, in cryptocurrency, only the addresses are easily traceable but not the people behind it. Government would think ways to still control it like creating their own cryptocurrency perhaps.

people expect way too much from the government than they're capable of. Global crypto adoption is years away since there are places where people are not tech savvy and they rely on fiat for their day to day operation. They cannot stop people from making ponzi schemes but I suppose people would learn from their mistakes and correct it accordingly. no government interference needed.

These scams will exist forever, if these schemes will be eradicated on our generation there will be another type of scam that will be born soon. To fight these scammers, they have to implement higher sanctions for these scammers.

And for the taxation, they can simply apply the natural law of taxation that the local government have been doing to us. For local exchanges, they can do the job easily if its just for collecting the taxes through crypto profits.

Well, in such case, the government would probably tax miners and miners will collect the tax from the users so that is one of the possibilities. However, it is not an obstacle to the growth of the industry but the real issue lies in the lack of mass maturity which causes huge losses to the users and especially the newbies. We must have to deal with those fundamental issues before dealing with other factors, in my honest opinion.

That is not as difficult as you may think, if cryptocurrencies become so popular that you can pay with them almost everywhere the government could create a policy that says that business owners need to open a cryptocurrency wallet with a bank, then the bank gives you your addresses but they also keep a copy of your private keys and then each time that you receive a payment in your business with cryptocurrencies they deduct a tax out of it.

Most of these questions are found in legal section of this forum and i have something to say then if the government wants to get involve in all of this stuff in cryptocurrency market, they have to do something like how china did it on most scams in their country. Some country may take tax from your cryptocurrency gain while some are not, so it varies from different countries to see a certain rules.

I am sure about that some of cryptocurrencies like BTC and ETH may get a complete adoption. But these coins don't have the ability to make everybody tax free for payments. If online companies accept cryptocurrencies, governments can easily track most of the transactions are done. Like internet providers, these companies have to obey some regulations and goverments may have a control on crypto market without focusing on customers.

Once cryptocurrency becomes fully adopted, all the issues raised here will be taken care of. Extracting tax from tax payers through cryptocurrency will still be handled similar to fiat tax payments. There will be records to trace monies collected.

I think tax will always be there.Even if we will be using cryptos already in the near future,the government can always trace our transactions knowing cryptocurrency has always its transparency.Maybe  the items or goods that we will buy,tax is already included in the price that we are paying.

I agree, but it will not be the same control and because of whales some gov will be afraid to give to "strangers" the control of the system, no ?

The question of how government can tax or trace earnings can be made easy if the government now agrees to be identified fully with cryptocurrency in its respective country. A particular fee can be placed on each transactions made of a particular amount in a month depending on the volume of what is being  traded.

Remember coins like Bitcoin is not truly anonymous. Everything can be tracked in blockchain and I'm sure government will do everything on their part to run after people who doesn't pay crypto tax. There will be strict penalties for sure.


Regulations. But then again it can only cover a certain portion and not everyone is free from ponzis or scam. But they will kept reminding us, so they have done their share. Its really up to us to whether we can be a victim of this criminals or not, used our common sense and due diligence or better yet not to invest on them so that we will not be another statistics.

Crypto would just replace the currently currency we use. And governments would tax it in a very simple way: You know that a business to exist has to be declared to the government, so the business' owner pays the respective taxes to the government (in this case in Crypto-Currency). Then he will have to declare who are his employees, how much they are being paid, etc... So the government can calculate where the money is going, how much each one has to be charged, considering the local politics and rules.

And if the person is a government's employee it can be even easier to be tracked.

Ponzies are forbidden in many places, people try to hide it like they try hidding fiat ponzies. It's not different and the tracking methods rely on intelligence of authorities on both cases.

Scams began since Barter trade. It just got more creative along with existence of gold... and then paper money. It will never end.

Yeah this is true,  the mass adoption of each countries in crypto currencies signifies that government allowed it to use legally. Meaning all the transaction that you converted your crypto into fiat are traced and already given taxes to the government. If you just simply analys the flow,  government also gets a % of it.

In the current state of cryptocurrency, I have great confidence if the government it wan't to adopt cryptocurrency as a payment system or as another function. And it may have been a contradiction for every fraud and ponzi scheme to be managed properly by someone who does not have full power. Except, there is a country that dares to help make a regulation to reduce fraud and ponzi schemes and is well managed then I bet they will be able to handle it. The decentralization system is very complex, it can only be overcome by regulations that cover only a country.

Bitcoin and blockchain are created to avoid government regulation. I think that it i one of the biggest advantages of Bitcoin. I would not like it it if was so regulated.

I agree, there's definitely a percentage which belongs to the government. Local wallet always have a transaction fee and some of it are probably connected to the government.

Ever since even digital money has not yet discovered there are already a scam and fraudulent, even in time of barter items there was also fraud and scam. Collecting taxes maybe government directly to the wallet into the users by tracing every transaction users have. In that way, they can deduct high fees as a payment of taxes, the government can't stop being scam and fraud but they can avoid or control with it.

It is too easy to say that there will be a tax problem for retailers and not for the individual.

I understand what the OP is asking if crypto gets so widespread that nobody is using
FIAT hiw is tax collected? Firstly crypto is not going to get that widespread that people
will use it, use it to buy stuff and that enough retailers will accept that tax will be a major
issue. This is in the case of decentralised crypto of course.

People doesn't like to sacrifice their profit into another thing that they even don't know the basic foundation.
Only the risk takers wants to engage into challenging part of crypto which volatile and intangible system.
If cryptos will be adopted worldwide there will have an instant rapid growth of demands that could result to taking crypto more seriously than before.

We are going incredibly well in adoption. Right now bitcoin is going so well that there are only 2 things left for bitcoin to make it any bigger. One is getting the shops and stores accept bitcoin so we can use it as a currency, the second is the big financial corporations to get in. First one will allow the everyday normal guys to spend their bitcoin on basic life stuff like milk and bread and what not and pay via bitcoin, which would allow us to have much better adoption rates.

Also when big financial companies get into bitcoin it won't be couple million dollars, maybe one or two company won't spend too much into bitcoin but when you combine all the money all financial corporations will pour into this collectively it will make it billions of dollars which would increase the demand for it and the price of it.

Basically, once we start seeing crypto adoption becoming something easy to utilize without having to convert to fiat, the taxation thing will be very hard to achieve in most cases.

Nonetheless, we still get taxed anyway on values when we get to purchase stuffs, and even if the market will grow into a usable one eventually in which the use of POS and cards become a lot more plausible in the crypto space, we might still see the government gaining from taxation one way or the other. Still, when it comes to capital gain tax, we all know the only easy way to achieve that is to make use of the exchanges, when it comes to converting to fiat, so that makes that side obsolete.

I think that all the same crypto will exist on a par with fiat currency. Because get rid of fiat will not be so easy. In the same way as the introduction of cryptocurrency in the world. And, of course, taxes will be. Since if they don't exist, governments simply will not accept cryptocurrency.

I got your point but according to me in easy words, according to me now people have started to use their cards and their money to buy bitcoin, several people are adapting many crypto currencies as we know there are many but for the best one is bitcoin which is now mixed in our society, we are using it to buy goods, to pay the fees and to buy goods to save money even banking are now having good bitcoin collection.

in my opinion it's not that easy, the proof is that since Bitcoin exists, this massive adoption still cannot be realized until now. Okay, let's say that this is a long run but isn't the run so far only limited to trade and regulation? ponzi and some pyramid schemes will be difficult to eradicate. so i thinks its impossible to do, others just trying to make another new one

I myself sure that in the future the government will have a system to control cryptocurrency, with their unlimited power, of course the government can do anything, including controlling users and crypto, for now all they can do is hold the development of crypto first

There is no problem if the government will control crypto,  the main concern of the people is not to be abused with the authorities. If that will happen,  we experienced many changes and might have a strict policy including taxes.

One major thing a lot of us are really hopeful for and which I so much believe we will get to see in the long run as time goes on. I know this might be a thing that is difficult to achieve considering the fact that a lot of people mentality when it comes to adoption is to hold and invest to make money from the deflationary characteristics of most of these coins.

However, with those with products, I believe a time will come when the market would have grown hugely, we would have seen a lot of development when it comes to the product backing these coins and tokens being used and in that case, we will get to see a better and matured space.

It is true that the government can't stop it because the people are continuing to patronize it. There are a lot of scammers in the market that is currently happening and it is the reason why government are creating laws and regulations to lessen the scammers.

Great question!

TAXES! this is why government dont like cryptocurrency.
As it is very hard to get the transaction details and people can overcome the tax law.
How can a country survive and develop their mainland if there will be no taxes, nor enough taxes to collect?
We are living in crypto whose the transaction are not traceable to whom and from who the money from!

The government would still be able to tax people on income tax and GST if bitcoin does end up becoming adopted further, and that legislation recognises bitcoin as a form of currency. There however may be double taxing happening in regards to charging both GST and CGT when buying stuff with bitcoin.

Furthermore, I don't think that increased bitcoin adoption would lead to more people getting scammed at all.

The government would obviously still have its own set of regulatory framework in terms of bitcoin investment services, which would restrict ponzi schemes from theoretically operating. Obviously this isn't possible practically all the time, but I think that it's up to the individual to recognise whether an investment is of a pyramid of ponzi nature anyways. Regulators can only do so much in this sense.

Once mass adoption will takes place,i'm sure the government will still find its way to trace all the transactions involving cryptocurrencies.Taxes are already included in the goods that we are buying and even in crypto transfers,taxes have been added already there.

Uuhm… I also think that the best way the government is going to collect taxes from the people making use of Bitcoin is by getting exchanges to be under regulation so that people will be charged them or something.I might not be right about it, but anyway, it’s just my opinion. But I do trust the government, they will always find a way in everything, they might even take over it, lol.

I think the pace is very good for now. I know we are expecting everyone around the world to get into bitcoin and crypto already but we can't expect that type of fast paced adoption right away. One thing I am really shocked is that we have the ETF possibility by the SEC already before we got into the everyday usage type of deals.

I would expect some sort of debit card thing or mobile app type thing to get a lot bigger and wider in usage and allow us to spend money wherever we want to be getting a faster adoption but ETF got the first foot in the door before that happened.

It would be marvelous if we could get some sort of ETF during these low prices so that those corporations could make profit, when they profit it would be example to others to do the same and it would only help the adoption rate to go higher.

They can't stop people from making pyramids and ponzis, only people can stop investing in them, but i think thats never happen

My crypto adoption thinks the best and most impressive opportunities are without a doubt, more cryptocurrency trading investment investors around the world.
Globally, there will be more turnover for the government that applies tax on crypto
in investment and government support for obtaining crypto-based investment funds, which are very positive.
Generally enough to make crypto traders, who continue to sell ownership of bitcoin and altcoin positively do not view crypto negatively.

Crypto adoption especially on the blockchain side is good but im tired with so many trash utility tokens and ICOs in this market.
Many ICOs are scam and even if they can get some funds or they can reach their softcap, theyre still not serious with their projects.
I think ICO need to get a tight filter or regulation and also STO may will be the real investment place. This 2 things will make crypto market looks attractive again.

Crypto adoption worldwide and every country , are the goals that bitcoin and other cryptos are on the track , so if countries and states are adopting this cryptocurrency, so this could give the comfort of every crypto holders ,to use the cryptocurrency anywhere ,any establishment around the world.

There are many ways to collect taxes. For institutional investors, it is easy to follow the owner of the portfolio. Or the banks probably will store btc like fiat. Or maybe during buying or selling things.

It seem that more people are getting interested and adopt cryptocurrency, so I think the adoption of crypto is rapidly growing. I think when years goes by surely there are huge adoption for crypto because this year is much more popular, so possible in upcoming years it will be more well-known of many country. Also crypto is one of the trend technology right now even its start about 9 years ago.

With the existence of the blockchain technology system, this makes it easier for the government to see crypto holder funds or wealth, so the government requires taxes on crypto holders. It's very easy to do because it's transparent.

I think the government can do it by making an official certificate that must be passed by ICO developers etc., because most of the problems that make the problem big are the ico scam projects that will make many investors get fraud. That way the government will also receive tax from related companies and it seems that we will easily find a project that has an official certificate that will make us more confident if it is true.

That's not how it was supposed to be. Being a holder doesn't mean they required to pay tax on the government. How about those saving fiat?

The tax will be applied during
a) receiving (e.g salary)
b) buying products (alongside SRP's)
c) other services.
d) for local exchangers = the rates and fees we are facing here

People can confidently hold even a large amount of crypto without afraid of being taxed. Same way when people saving large amount of fiat.

We can't stop people from doing it but it is up to the people if they know what is a ponzi and scams. By doing this WE could actually stop those people from scamming more and more people in the future but due to the people that who don't have enough knowledge of a scam they were easily being targeted by the scammers.

Government will find a way to tax it, don`t you worry about them, they will always try to find a way to take your money. With crypto maybe we have a choice to hide ourselves, maybe we can skip paying them more than
they deserve. Crypto adoption is ongoing, it started years ago and it will last for many years until it conquer the world, you can wish to happen faster because you have a stash of coins but it will take time, we need to be patience for that.

It's true, cryptocurrencies must make some structural changes and become more attractive to everyone- serving society  better, as whole. We find people, in every aspect of our life, suffering from marginalization, financial problems and even depression (though as a result of the other 2). We can deal with these problems like no government ever before and open a window not only to financial prosperity but to a socioeconomic revolution by backing projects that plan to change modern welfare, e.g hinounou or w12; aimming to get us closer to a more humane perspective of investing (thinking about our impact on tomorrow's society and not our portfolios). After all we all we are a community that aims to revolutionize every sector of today's society. Of course crypto will be adopted -eventually-!

indeed there are still many countries that do not realize the original usefulness of bitcoin, the government should begin to open up and start analyzing the benefits that can be obtained from bitcoin, there are still many countries that are still worried that bitcoin will become a world currency that will destroy the value of currency each country, this is clearly the wrong idea, the conventional currency and crypto currency should be complementary and mutually supportive, because with the various facilities offered this could open up many new business opportunities,

You know what, the governments do not run out of ways to collect taxes from the people. As a matter of fact, they have mastered it to a high level. That is where they are experts of. As to how to convert these taxes into people's services, they are very weak. Anyway, every time we purchase, they could already impose appropriate taxes. But this could only be done when the store or shop, online or not, is duly registered with the government.

now many banks adopt the blockchain technology system for easy access to their banking data
.and the government does not have to collect taxes from blockchain users but it is enough to be collected through the customer's bank, I think the people now understand their obligations as citizens to pay taxes

Real money is physical and not digital. Digital means are ways to make things faster while making transactions. That’s why you have your money in banks and you can control the money in your bank account by just making use of mobile phones and computers. So cryptocurrencies are not going to be that, cause they were not meant to replace anything. The purpose was just to create a fast means of buying and selling things online.

In my country, there are now many people who prefer to use digital money for them to easily buy goods and services.  Actually there are many businesses and even the market who fully accept cryptocurrencies.

Yes this things is being use not in a city or a country but it being use now all over the world, if you go to some shop of any country and you ask about bitcoin buying selling goods shops they will show you plenty of, so there is no need to be worry as time passing bitcoin adoption is getting at bigger range and soon it is gona be one of the most adopted currency and best investment all over the world.

To get tax from Crypto is very simple. Governments can levy taxes on exchanges in their own country. Also, they can be taxed directly on the Crypto payment application as easily as possible. There are many ways for the government to levy taxes on users and to own Altcoins.

It will take a lot of time before crypto-currencies are accepted / legalized all over the world, so it’s hard to answer your questions. But I can assume that within each country, there will be its own rules, laws, and its attitude to the account of crypto-currencies.

Yes it would take time to legalized for many countries. So I believe in the upcoming years there would be more adoptions could happen

You are absolutely right because if there are no regulations governing crypto currencies it will be difficult, we are waiting whether next year there will be many countries that make regulations for the use of crypto currencies.

but is it the biggest tax the government gets from someone's income? if many people use bitcoin for their salary, then what is the state of the country's economy then ? that's our concern now. why adoption is slow because the government is trying to stop bitcoin in any way so that the government does not lose

the government can collect crypto taxes by making its own Crypto legitimate in the country,

maybe the government can collect 0.01% to 1% tax for each transaction or it can be a certain amount.

the government can also stop people who make pyramids, ponzi, and fraud by broadcasting it on media such as TV and newspapers, but it depends on the individual, whether they want to obey or not

Government can force the exchange site to pay taxes, government is smart it always finds the way to collect taxes. Government also can make a regulations for cryptocurrency like anyone who make a transactions in it country should use certain app. But honestly government which only depend on taxation is a looser. Government is an organization which should can be self sufficient and even can support their citizens prosperity. Government should build strong industries that can support the country economy.

If cryptocurrency will be  legalized in all countries and around the world, I am sure that the government of each country will find a way to check all transactions and each government will come up with new laws related to cryptocurrency, therefore fraudsters and other people who will cheat on people and will not pay taxes, governments will catch and governments will write them fines or will put them in to jail. Already, every government is struggling with different fraudsters who are connected with cryptocurrency, so this is a matter of time when the governments will find the newest easiest ways to detect fraudsters.

It’s good to pay taxes, but in a country where the government is very corrupt, the taxes you’re paying will make no sense because those in power will keep on with embezzling public funds and make away with it and there will still be nothing done against them. I’m not going to mention names of countries, but I think one of the reasons some people like Bitcoin is because their government is corrupt.

But we all know that nevertheless they embezzle the funds, they also make it worth for some citizens. Public projects are seen but you know there are lots the country needs. Paying taxes is one of paying the ones serving you food, serving you on your municipal halls. Basically, taxes SHOULD GO BACK TO YOU. If not, there's something wrong about what your government do.

Through buying of goods, it already has a tax. Therefore when someone buys then the must be there. There are a lot of things in where the government can get tax, the transparency is the key but the government is not really transparent. Crypto users wnted something new.

They will not easily adopt cryptocurrencies because of its risks. They will start adopting it if they gain prior knowledge about it. We should find a way where the people will believe to the importance of cryptocurrencies.

I think when the world will experience another financial crisis, everyone will recognize cryptocurrency as a secure mean of payment. Apart from that, delicate cryptocurrencies need adequate regulations from the government otherwise they will become centralized. Then cryptocurrency will lose its attractiveness for people. I consider that cryptocurrency should become an alternative mass adopted payment method to fiat in order not to lose its advantages.   

Pahoo

it is the good thing to adopt crypto babies because it is the best passive income in easy way and there is no tress in this business but we must keep calm and do the work.

Crypto adoption can't be easy task in developing countries because they are not even complete digital payment yet Crypto payment is very far. In most of developed countries we have seen Crypto is very popular and these countries also encourage Crypto by regulating it.

We do really go fast lately on adoption. I have seen Ohio state news first which is great that a state in USA (one of the biggest finance countries in the world with UK and China) started to accept bitcoin like an official payment method.

After that I just saw that NASDAQ and NYSE aims to start bitcoin ETF on their platform so people could buy and sell depending on the price of bitcoin, which will bring in a lot of money and volume into our market.

I know we were hoping for adoption like "I can now go and get a loaf of bread with bitcoin" type but I guess bitcoin is much bigger in commodity market now compared to currency market and that is why we are seeing rapid adoption in bitcoin at higher levels first before we can see it in lower places. That is still a great news considering it will make it a lot more legit this way.

Crypto adoption were heading to be known and the governments i think would do something inorder that they can benefit in every bitcoin or cryptocurrency transactions.In my opinion maybe the merchants is their start ups,pretty sure everything will follow.

maybe because this requires preparation from various aspects, so it requires a process, and they say no for now, this is different from developed countries, where everything is ready

Government still earn taxes from VAT in every goods we buying. Government can stop ponzi with regulation and thats why government should regulate cryptocurrency market because many scam ICOs.

it is good to adopt the crypto babies so, the government is not give the permission because it is decentralization.

I am believe if government regulate cryptocurrency for payment beside fiat money, government must be preparing regulation on crypto taxes. Maybe government make regulation that we should report our digital asset. Beside that, for government there is many ways to collect taxes from local exchanger.

This probably why government still not implementing the usage of cryptos. This is one factor they are considering, that is why most of the countries still not open of having cryptos as their main way to use in payment physical or online. The process will take a lot of studies and debates just to pursue the crypto payment. Also, the security of it is also in question. Most of the hackers will also find ways just to take the advantage of getting the access of our wallets. So many answered in this topic, so i hope somehow enlighthen us.

Taxes for crypto holders are already started in some countries as the government have supported this kind of currency. It could possibly happen into others also as their government imposing such policies.
Crypto adoption is somewhat no fully engaged nor all areas are known into these. I may think that only 1-2% having involve in here, mostly people who are high risk takers.   

What yesterday was  impossible to happen is discussed today in G20. They discussed about bitcoin and crypto holders, but they postponed final law about it until 2020, before they investigate it a bit more. I`m not a fan of governments or banks, but they are talking about it more and more and thats a good sign that adoption is going in good direction. In my surrounding many people still dont accept idea about crypto, now they hear a lot more about bitcoin than before, but still they are not open minded about it, but that will change, first step is almost completed, everyone to know about it, later will be everyone to use it.

Crypto adoption around the world keeps increasing as the implementation of blockchain technology around different functional areas keeps on advancing. Several countries have come up with plans of regulating and allowing cryptocurrency usage within the country in a legalized manner.

It’s not just about being adopted, it’s already adopted by a lot of people, the main problem is that the price is volatile and no one is ready to use a thing as volatile as Bitcoin. If it becomes stable, I believe that a lot of people would start to make use of cryptocurrency for making transactions. But whatever, everything will be the way they are meant to be, and that’s it.

For now, I would like to think that cryptocurrency adaptation is a sure thing that would happen, but what happened mid this year would definitely affect this adaptation greatly in a very negative way. Many people went bankrupted because of that great fall, and I think it would take time before the whole cryptocommunity could recover from such loss.   

I think that isnwhy we need regulations placed in crypto currency so that it would protect both the people who have crypto currency and the ones that transact in crypto currency. I just hope taxation would be less that it would be fair for both crypto currency holders and the government so that both would benefit from crypto currency.

Then they would collect taxes through crypto, simple as that.

By that time when massive adoption comes which is happening currently, you'll see news like this.

Op-Ed: Ohio’s Crypto Play Proves Bitcoin is Becoming a Currency (https://www.ccn.com/op-ed-ohios-crypto-play-proves-bitcoin-is-becoming-a-currency/)

This Week in Crypto: Ohio Embraces Bitcoin (https://www.ccn.com/this-week-in-crypto-ohio-embraces-bitcoin-judge-hassles-sec-and-dj-khaled-fined-for-ico-promotion/)

Ohio first state to allow taxes to be paid with bitcoin (http://www.sanduskyregister.com/story/201811270028)

crypto adoption is one of the good think and we can make good passive income from the crypto in short time and many people are already investing and making profit from it.

It's easy for the government to collect taxes from crypto owners. With the prerogatives they have, it's easy for them to force each exchange account to look for detailed data from each user.


Maybe the government will work with service providers, such as Google, Opera, and several other social networks, to banish and hold sudden inspections of suspicious sites, even to close them if they are indicated to harm crypto users.

Don't just think for easy money in here nor you just earned big amounts. Do hardworks still important and also how to market your investment. Many are losing because they can't adjust on how the market works and they don't have a plan for the incoming.

I am certain that no matter whereyou are in the world or from whatever region you are coming from the government you have will always be watching over cryprocurrency. This is because  a huge amount of money involved that could definitely change the economic status of a country. Change for what is better isn't bad. But since it could involve loses then for sure the government ,
Is just watching and will intervene at the right time

I think adoption will come with IoT devices (they will run on blockchains) and moneywise, ETF and Bakkt will bring lots of corporate money to crypto world, which may help bitcoin and markets recover.

Government can make regulation to collect taxes from bitcoin trading. Every trade we made in market will put taxes by government. I think Ethereum is not a ponzi scheme because its already recognize as digital asset in several country

If Cryptocurrency gets generally adopted today, I think government and stakehoders  would eventually come up with ways through which tax can be collected.
And also a way to stop the use of Cryptocurrency for scam purposes, pyramids and ponzis.
There is always a way.

There is always a way of course. The government of each countries which holds ICO are almost strict and doesn't want to hinder these projects but would want to protect these investors from the scam, pyramids, and ponzi schemes. Sad that most of these was also used as reasons to scam people.

I definitely agree, about Eth is not a Ponzi scheme because they are already been established and proved to be so much useful especially in ICO's. Furthermore, crypto adoption is getting more interesting because some countries are already using the services and hopefully in the future, we can witnessed a broad and wide adoption.

The cryptocurrency community is continuing to grow, it seems that people are now adopting cryptocurrencies. Governments are now also legalizing cryptocurrencies because of its function and its potential.

The governments also have the opportunity to collect the tax and the transaction fees if they will create their own online wallets and allow the banks to start accepting the cryptocurrencies. I think they have to start from the Bitcoin and after the success they have to allow the remaining currencies.

Do you guys think that since this american stock markets are getting into ETF and basically making bitcoin more and more legit every single day would help the shop owners or stores to start accepting as well ?

I mean there was a lot of talks about steam getting bitcoin and there was Microsoft and all that (we still have Expedia I think) and maybe if the stock markets have bitcoin in it there will be more like that ? I mean I really hope to see bitcoin to be at least accepted as an online payment option on all big places, apple accepting bitcoin for your online shopping would be a great start and amazon as well, that type of stuff would really make bitcoin get heard a lot, more than the price increase we all need a place to spend bitcoin in order to make it actually worth something.

I think that is the issue that government wants to gave a solution because they are looking forward on the use of cryptocurrency, in fact here in my country cryptocurrency has gain popularity, there has a tv series that has a scene of giving a payment and the person wants to be paid by cryptocurrency meaning people are aware of crypto and they are waiting for the right time to use it.

The government have their own problem even before bitcoin came in the world. It just happened that the people choose bitcoin and support the digital currency and now we can see the result. The massive improvement and continues progress is still present at this time. The adoption of crypto could help the country in general but it must be strictly tackle in order to produce good relation from community and society.

adoption through many merchants all around the world will give new light to crypto world.
There are so many reason why BTC And ALTS will climb up again and this is one of those.
ETF also is a must and regulation must be on the side of cryptocurrence then new ATH will come!

Most of these questions you asked are some of the things that are in our minds and that is why is taking governments time before there could regulate it.  Cryptocurrencies and blockchain technology created mush room for scammers to come into the market and many investors keep losing money day by day and governments are the only one that has power to stop that.

I failed to add some points, even if the customers are using cryptocurrencies to pay their expenses I doubt that merchants can escape form not using Fiat currency as there tool, for one fiat currency is the one being used to pay their employees as it is in there law and the last thing is in order for these merchants to pay taxes they always need to convert their earnings to the fiat currency equivalent, holding it for long even after converting would only endanger their crypto holding for losing value.

I agree with you that there will be less and less reasons for cashing out into fiat, especially within next bull market which should give more adoption than last one.
I think that government should educate peoples through educating system, to educate people how to avoid scams.

If government regulate crypto for paying goods in merchant, i am believe government already thinking about this. When we buying goods in merchant, the price already attached with taxes. Beside that, I am believe government will monitor exchanger to collect taxes from our trade or our profits

They will seek to develop software to manage the crypto market. As you see, the crypto market contains a lot of people from different countries. A government will not be able to manage it all. They need to re-union to have the best solution.

Creating an awareness under the people is not an easy task because people are really feel unsecured when they invest money into instrument if instrument is not centralized because there are high probability of being fraud in the crypto market that's why not many people want to take risk.
One more thing to create interest in the people we should have to make example so people get attracted towards crypto. Like in last year December when price of bitcoin was about 19000 USD people found btc interesting and most of people joined at that time but now bitcoin is at stage where people lost their faith in BTC.

I guess the dream of everyone already into crypto stuffs for them to be able to use crypto like the way they will spend their pounds, dollars, yuan, etc. But in practice, there are no such markets yet, or maybe just a few in some selected regions.

I believe those who lost faith in btc don't really know the potential of crypto in our everyday lives. Right now, more and more businesses are integrating the blockchain within their operations so we are in the mass adoption stage already. Btc will recover as the demand increases.

Although cryptocurrency adoption might seem like only a matter of time to enthusiasts, that’s far from the reality to those outside the space. This is why every sign of cryptocurrency creeping into our daily lives is another step towards familiarization and adoption - and this is why the cryptoverse celebrate such signs.

I'm not sure how it works but Ohio currently accepts BTC for taxes so I see a system where the govenment would just accept BTC for taxes. Capital gains in relation to taxes is a different kettle of fish.

Adoption is still an ongoing process. Nobody said we're ready for mass adoption yet. The points you raised are all valid and there are still a lot to be done on crypto for it to be more usable.

There is no government who can stop PONZI, scam and pyramids.
It is on the people's hand, they know that the world is not safe though they are seeking for it.
They are being blind by big promises and fast money back. which is not good for them.
Even with out Cryptocurrency it is a big problem of the world and it will always to the people if they want to be one of the victims.

This is true, government needs to find ways to receive tax revenue if fiat money is to be discontinued

Though government must do action to keep the people safe,but it is our obligation to stay away from this scammers and ponzis and pyramiding.because aside from everyone,we must be responsible for our money because rhis is our hard earned.so stop putting the blame in government if. We become a victim because more than anything it is our fault