Bitcoin Forum

I believe Switzerland is going to become a bitcoin paradise country where everyone with BTC will go there and retire. In years time, Switzerland will give full support to bitcoiners, so you will be able to buy anything you want with bitcoin without the need to pay any taxes. ATM bitcoin machines everywhere.

There are already ATM machines in every location you can imagine.

http://www.coindesk.com/swiss-government-paving-way-bitcoin-blockchain-banks/

They are obviously building the infrastructure to attract bitcoin holders there. We saw how bank secrecy is a failure with the leaks of bank accounts from lots of people. I think those famous idiots with lots of money will learn about bitcoin and start using it to hide their money from governments, and this will push the price up big time.

Generally I agree. I think hide is the wrong word. Governments have no business with peoples' money anyway.

One simply can't use hide, money and government in the same sentence!

Government owns your money and it will be futile to hide it from them!

Yeah Switzerland is alway well know for such things. When money comes or something precious comes Switzerland is always there and it has to be there.  ;D Bitcoin is being accepted everywhere and that too anonymously. Why Switzerland would ever stop there. They will acquire a big empire of bitcoin to attract more customers and people will reach out there for their money's safety as always they have done when it comes to money which comes in bonds.  :D

Well, I have an idea which I want to share

After the US government forced the Swiss banks to reveal information about their clients and their money, it might in fact have been the Swiss gnomes themselves who had hammered Bitcoin specifically to get rid of Uncle Sam's supervision, surveillance and control. If I were them I would certainly feel hurt, upset and humiliated when they had been literally made to disclose this info, so it shouldn't come as surprise that they eagerly welcome Bitcoin (even if it were not them after all who created Bitcoin)

Touché!  Governments have no business kniwing peoples' wealth even less regularly stealing from it.

Tax havens like any other business do their best to try to encourage more customers to try to get the public to use their products and services, so it is not a surprise to me that Switzerland is looking into bitcoin to try to get an even bigger market share of the money of the investors of the world.

This is great for the bitcoin holders like the billionaires who have got a lot of bitcoins in their bitcoin wallets and they just keeping it for a long time waiting for the price to reach to their satisfaction and if switzerland will fully accept bitcoin then it will be a good place to live there and just spend our bitcoins like buying a car and house and living a decent life.

I am not sure I agree with the statement that if you use bitcoins, you don't need to pay taxes. Switzerland will be no different from other countries in this regard and paying taxes is the safe (and right) thing to do.

That's actually a really good point to be honest. It would make sense that the Swiss would want to aim to repair their banking security reputation, and sine fiat is obviously something they can't use safely anymore they might as well move to the next best thing (being Bitcoin).
Restructuring and modifying their infrastructure to be more accommodative of Bitcoin is definitely the best move for them as it stands, and I won't be surprised if it really starts to be a major thing within their borders in the next decade or so.

Taxes can be something inevitable because we are making business transactions and transactions can be taxable in many states and countries much more if a transaction is producing profits for a certain individual. This can be quite true in USA and other countries it can be so hard to hide transactions and not pay tax. An option is to immigrate to a third-world country where the government is not yet interested to police all people in their taxable transactions.

i have been saying this for some time now and i do really believe that Switzerland soon will be one of the frontiers for bitcoin. but even since i saw what Japan did and then the follow up of how it was accepted, i think they come pretty close to be the "bitcoin haven" very soon.

and in the end it will all come down to adoption and how people will accept bitcoin. government is just setting the rules but bitcoin is decentralized and nobody can set any laws for it.

I don't buy into the theme people spout of governments hating bitcoin, that being said any paradise type country with a beach will become a bitcoin haven with people retiring on their big bitcoin earnings. Countries that are cheap by Western standards in particular will be popular destinations and these countries are also adopting bitcoin for practical reasons, remittances are cheaper in bitcoin even with the current high fees than they are with traditional remittance companies.

Well the Swiss banks are famous for keeping the money, I hope that the swiss regulators are successful in proposing good legislation towards Bitcoin that make it tempting to use.

It is not very surprising that bitcoin will sprout in Switzerland since the government itself started to accept bitcoin as a form of payment to goverment services then the people will also follow. The decision of the state will not just increase the number of bitcoin users but rather increase the trust and confidence of the public to use bitcoin in their daily lives.

Switzerland has always been a heaven for rich people to store their money hiding from their governments and avoiding taxes.Its quite natural for switzerland to show green flag to bitcoin which is pseudo anonymous.Switzerland has already enjoying the benefits from huge money stored by rich people from different parts of the world and since bitcoin is the new choice of rich people,they don't want to miss this chance too.But i don't think that they will not levy taxes on our purchases.

Well it could be.

Switzerland banks has been famous for its secrecy. Hence, a lot of rich people have a bank account somewhere in Switzerland. They don't disclosed any information of the account holders name except for extreme cases like illegal activities or terrorist links. With the best banking strategy and most stable economy in the past years, Switzerland has emerged as the best option for banking service. However, I'm not aware of Uncle's Sam meddling of Swiss banks policy of non-disclosure, however if this is the case then maybe what you said may be very well true.

this was in the news. i didn't pay much attention to its details because i don't live in US and i don't have a swiss bank account :)
but US has forced Swiss banks to reveal all the information they have on every single bank account of US citizens there. i don't know how much of even if they resisted but in the end the agreement is like this:
Swiss banks automatically, without being asked, send all the financial details of their customers to US.

http://www.swissinfo.ch/eng/banking-secrecy_swiss-parliament-clears-us-fatca-deal/36858508

And thus Bitcoin was born

And that shouldn't be surprising because even Sir Isaac Newton as back as 300 years ago stipulated in his laws of motion that "when one body exerts a force on a second body, the second body simultaneously exerts a force equal in magnitude and opposite in direction on the first body". The most interesting part here is about the opposite direction, so when Uncle Sam decided to punish the Swiss gnomes, he should have expected that his attack will backfire eventually and likely with a vengeance across all countries and even in the US itself

Quite interesting. USA now interfering with the Swiss banking system? But why? Why just now? You can't blame Switzerland then for acting like this. They maybe the second country behind Japan legalizing bitcoin(if not done already). Switzerland has been nuetral during WW2, but this time they are taking side, with bitcoin technology. I'm dreaming of staying in Switzerland, and this may be one reason I would move there.

Swiss banks are not hiding money anymore that business moved to Holland,that kind of money what you are talking about is possible to hide in bank books but not in blockchain.Switzerand is interested in new disruptive technologys ,becouse of that Switzerland is biggest blockchain hub,

No one knows that for sure

Well, someone (or a group of some) in the American establishment might in fact know the exact reasons for that, but we certainly won't find out. I guess the pretext is the same, i.e. terrorism financing, money laundering and similar bullshit. Personally, I think it could be the consequences of American citizens moving their money abroad from the American bank themselves to more reliable banks (that should count as capital flight). Obviously, the US government didn't quite like that and decided to put an end to this "nefarious" and "treacherous" practice of rich Americans hiding their wealth from Uncle Sam

http://s018.radikal.ru/i517/1705/04/8938928cd5e9.jpg

And he wants you and all your coins

My plan after high school, I will lecture at the Switzerland . I think this is a good thing, I'm hoping if I study in Switzerland could pay the tuition with bitcoin so people my parents would send money via bitcoin.

While I was not aware of those news, I did not need it to see it, uncle sam has been trying to crack tax havens for decades and those small countries have done everything in their power to resist but it seems they are finally giving in but a new opportunity has open with bitcoin and I do not think they are not going to take advantage of it.

For one. Retireing in a country thats expensive to live in, is extremely non economical and imho stupid. You want the most out of your retirement bucks.


You have nailed it. Its the country bank law fiction to store the money in, not to live there. So the ATM machines are not going to accomplish anything.

Yeah sure those rich bastards may panic a little, because of the USA interventions, and some of them will buy assets like bitcoin or gold. But can any country be a haven for bitcoin? Why we need haven for bitcoin? Its not legalized yet so its haven is the world.

That is a nice plan but before that could happen the price of bitcoin could be very high and the schools in your are will be accepting bitcoins a a mode of payment for the tuition. If in case that could happen that your hometown becomes a bitcoin haven like Switzerland will you still go to Switzerland to study and teach there. Switzerland is really the first country to ever used and accepts bitcoin in daily lives and it was followed by Japan I wonder what country will be the next bitcoin haven.

I guess we should still wait and see

It is not yet known how things are going to pan out with Bitcoin in Japan in the long run or what events are set to unfold in the future. Indeed, Bitcoin is being heavily pumped right now with likely a lot of generic folks being attracted to it. But when Bitcoin as per usual goes for correction in due course (which seems to be inevitable), it may cause panic selling between grandmas and grandpas that invested their savings in Bitcoin recently. Naturally, many die-hard Bitcoin traders and speculators will be quite happy to shake the coins from the weak hands, but that might still have negative consequences over the long term as well as backfire on further "bitcoin havens" or "heavens"

That's great.
It's a good initiative taken from the authority of Switzerland. I'm really optimistic about Bitcoin and I think that kind of news more gives credibility of my prediction.
More country should follow this trend and in this way Bitcoin will be spread out everywhere.

I also like to work in Switzerland. I don't know why but whenever I saw Switzerland in the news, I dreamed of working and staying there for good. With regards to want country should be next to adopt bitcoin, more likely it will be Switzerland because by the looks for it, they are now making plans to accept in the coming years and it will be a bitcoin haven for many big time investor to keep their money there.

Sounds cool when Switzerland comes up with something new as it has done always in the past. It is well known for black money and wallet of richest persons in the world. Bitcoins are in the queue really to enter into Switzerland world where it will be grown like their own currency and fat wallet storage.

Your country is very lucky and you also. I hope they open they are open on importing their goods and products so more bitcoin users throughout the world can benefit also.

Switzerland is always a financial paradise. I am not surprised that swtizerland will be a bitcoin paradise. they have the banking infrastructure to support the transition from fiat currency to crypto currency.

Switzerland will give support to bitcoin only if there is some benefit.
The benefit for the country comes with taxation.
I think that offshore islands are a better bitcoin heaven.

I am not against taxation and social responsibility aspect but I don't want governments to control the wealth of the people. I am not sure how the ideal system form would be where there will be simple taxation system along with the freedom of holding & spending cryptocurrencies. Hopefully, we will be able to find a solution to this issue and it will help the governments across the world to deal with bitcoin and blockchain technology.

This is a very simplified approach and attitude

It might have been true a few hundred years ago but this is not the case in modern times. In today's complicated world, this might not work anymore. For example, when Internet had just started in the early 1990's, Internet browsers like Netscape had been actually sold for money. Now this is no longer the case, and what seems to be more important, the very idea that someone wanted money for a browser is hard to grasp today

Did you also notice some of the cryptocurrency foundations are registered in Switzerland? Ethereum one of the biggest in the altcoin field right now is registered in Switzerland. There might be others following.

Are Swiss laws more lenient?

Do you know if there's a way to open a bank or swisspost account in Switzerland without being resident but European citizen?

It is good to know having a lot of countries adapting Bitcoin like and other more. This is a good opportunity to distribute Bitcoin through out the world rather than having one country manipulating Bitcoin. This is also a good popularity boost and will attract more users and thus Bitcoin will become more solid like not worrying too much to wake up with Bitcoin just gone or dropt to a price of $4.

If Switzerland does really adopt bitcoin prepare yourself for the price to go to the moon, the swiss franc is one of the most solid currencies if they adopt bitcoin you can be sure the world is going to listen to this and everyone will begin to think of bitcoin as a very good currency too.

The backfire you mentioned will take long years to happen and the dump of bitcoins from weak hands will not take long since there are many catchers waiting for the dump as we speak. By next month Australia will going to adopt bitcoins and it will cause another opportunity to increase the number of bitcoin users that will affect the bitcoins price to spike again.

There is no contradiction in my post

It may take long and it may take a few months (or even weeks), these are not two mutually exclusive events. Right now, we may see a small correction since the price is not very high as of yet (in comparison to what insane crowds of grandmas and grandpas could drive it to), so few hands will be shaken, and, as you said, there are too many knife catchers waiting in the bush for the price to get dumped (I hope for 1,200 dollars per coin, personally). But this element will always be there, at least, as long as Bitcoin remains a purely financial asset

I think they've already accepted it and I agree japan did it already and we're seeing a price movement that would make anyone who hold btc smile from ear to ear. having switzerland back up btc would be a very big boost and that would be something to really look forward to

it is really a good news for us who are engaged in bitcoin, hopefully, it starts strongly, is bitcoin could cover in Europe then it will be a great achievement for becoming a global currency.
so let's see what will happen....

Countries are accepting bitcoin slowly but surely. Japan, Australia on 1st of july, Swiss companies accepting bitcoin all together. I just hope that small businesses start accepting bitcoin, cuz I'm still waiting for the day to buy coffee with btc. :D

Switzerland was a save haven for major business magnets and illegal holders for a very long time and they usually accept everything with both arms and it is not a big surprise that they are accepting bitcoin,we are seeing more countries accepting bitcoin and it is a really good thing for the community and hope to hear more positive news in the future.

Buying coffee with bitcoin is not a good idea because the network of bitcoin is getting slower and the confirmations are taking days to confirm and some of the transactions are still unconfirmed. I think the first thing we need to do is to fix the issue or problem with bitcoin first before continuing to being adopted by the countries or store.

They're a country with great wealth, a high degree of educated people and low crime rates. If what they're doing is working why wouldn't other countries just adapt to something similar. Having an open mind allows you to move forward as a society. If you're close minded you'll never look into bitcoins because "it's for criminals".

Sweden really is an open-minded country with open-minded people. Those who accept Bitcoin are open-minded being for they see the good things and bad things alike and weight them. It is not Bitcoin itself is the one who is dangerous or criminal because anything can either be used good or bad and legal or illegal activity which really depends on the person who is holding it. By the help of government and developers, we can put rules and order so that it will not be used in these not so attractive ways.

Sweden isn't Switzerland. They are 2 different country. Take a worldmap. Sweden is north of Europe, Switzerland is the little one between France and Germany ;)

Sometimes back, I read Switzerland railway is going to accept bitcoins or their postal department is going to sell bitcoin or something similar to that. But I was not seeing any big impact those news actually would have done like how Japan's stand is right now doing. Many European governments made their stand against bitcoin like treating it as digital asset in 2013 and 2014 but none of them had made any big impacts.

I welcome Switzerland to be bitcoin heaven after being a safe heaven for world black economy. I wish at least in coming years Europe to influence into bitcoin economics.

I'm tempted to agree that Switzerland will be a safe haven for Bitcoin due to their secured banking record and so we should spearhead bitcoins usage in Switzerland the most and it will likely be induced on other European countries.

At this point Europe will take some time before they will follow the footsteps of Switzerland. But I can see asia as having the most potential for bitcoin offline transactions. We do have Japans adoption of bitcoin last april and it made a huge impact on bitcoins price and soon other asian countries will also follow Japan. By next month Australia will follow the lead of Japan and it will be the spark that will soon lit a fire in the whole Australian continent.

The Swiss connection and banking secrets are top notch and so I expect Bitcoin to grow and be deep rooted there and spread across the rest of Europe.

Already switzerland is well known for its banks which does not give any details of its customers to any country.So,lots of money flow from all over the world towards swiss banks.It seems that they don't want to be late in adopting the newer technology bitcoin.Bitcoin payments can be made for any government works in switzerland here after.

Cannot agree totally. Perhaps there are more people who use bitcoins in Switzerland and there is more merchants accepting it there, but to be a bitcoin paradise the world has to be a place where you can eat and dine with bitcoins without having the hassle to convert it to flat currency.

I think Switzerland take one step ahead from other countries. Blockchain and bitcoin is  tech that will replace old financial system that has been controled for long time by banking industries. That's a good news. In another world, Indonesia does backward step, the government can see the money owner without permission of the owner who has above 200 million rupiah ( 15000 USD). http://www.tribunnews.com/bisnis/2017/06/05/psst-saldo-tabungan-rp-200-juta-ke-atas-di-bank-kini-bisa-diintip-orang-pajak (http://www.tribunnews.com/bisnis/2017/06/05/psst-saldo-tabungan-rp-200-juta-ke-atas-di-bank-kini-bisa-diintip-orang-pajak)

Tax officer has authority to see the holder of account more thant 200 million or 15000 USD. I think Indonesian people should use bitcoin and cryptocurrency to store their money.

Switzerland is not so safe Harbor. At the end of the 2000s, Switzerland was to give information on Bank accounts requests of the American authorities. This has undermined their credibility among people who had savings acquired by not entirely honest way. And remember the story of Assange.

And what about the story of Assange?

Aren't you confusing Sweden with Switzerland? Remember, Switzerland is not Sweden, and neither is Spitsbergen. Regarding revealing bank account info, this is applicable only to bank accounts open by the American citizens if I'm not mistaken. If the Swiss bankers didn't give in, they would be cut off from major payment systems which are controlled by the US authorities. This is how matters stand in today's world with the global domination of the US in the world of finance

Well that is where all the money was and is. So as Bitcoin is the NEW MONEY the Swiss are very clever to make sure there is a good infrastructure framework available for all the Bitcoiners and Bitcoin Whales to par their nice big funds of Bitcoin.  :)

Could be true. Swiss banks has been known as safe heaven long way before. So a lot of billionaires, rich people put their money in Switzerland. And they are already thinking about the future when they become a bitcoin friendly country. And for sure whalers will took advantage of it and stash their bitcoin in Switzerland.

Interesting article. The important thing is that our there we can find people, in governments, who understands the crypto importance, and swiss was alway a "heaven" for money holders, why should it be different?

Everyone sees Switzerland as an offshore country for bitcoins. Well, let's see when they are banning or restricting the crypt, that's what will be laughter.

But why would they ever need that?

I mean why would they need to stash their bitcoins in Switzerland or elsewhere (read give away their precious coins into someone else's hands)? I don't get it. Unless there is something really attractive and enticing behind such an offer, i see no sense in giving away your bitcoins when you can safely store them in your own wallet. And as far as anonymity and safe havens are concerned (which seems to be your point), this is the best choice and option anyway, i.e. to store the coins locally. This is Bitcoin, after all

Few months back a news has been published saying that E&Y Switzerland , one of the BIG four accounting firm can accept BTC as payment and install a BTC ATM in their Office in Zunich(switzerland)

Switzerland has probably the best world economy. If they legalize BTC that will strengthen their position.

Switzerland is a heaven of the earth without bitcoin. I think you mean that most of the bitcoin miners are in Switzerland. May be you are right if you think the same but I think in mining China is number one, because of the less mining expenses, but if have some other thing about Switzerland then I don’t understand what is that.

Accepting bitcoin does not make any country more popular for its using as many other countries already started bitcoin in their local markets.

I saw them when i was travelling switzerland. I hope its going to happen in all over europe. My opinion is euro zone will love bitcoin cause there are too many risks rising in euro zone.
waiting for new european countries to follow switzerland soon.

Well, Switzerland made its name mainly on the banking business so this comes as no surprise. As far as being a safehaven - it is a wonderful country but it's very expensive to live in.

Well as we know that Switzerland is one of the well-known for banking its banks are very popular in world for given a huge interest to his users so bitcoin have also very high price and I’m sure bitcoin can survive their easily because Switzerland people are used to with high interest from banking so there is no doubt that bitcoin will be go more stronger in Switzerland.

Switzerland is already a haven. I have no doubt they will be among first countries to intoduce real BTC usage, or blochchain usage in many life aspects.

Might have been the case only several months ago, which probably also attracted a large number of ICOs to launch or be based from there, but the Swiss regulatory body FINMa hasn't been blind to them. In fact, ahead of the EU, they've already launched investigations into regulatory infringements of ICOS - past and present - that they won't be shy to pursue enforcement action should these investigations turn up any dirt.

It's pretty interesting to see a neutral jurisdiction to act so swiftly, but I suppose it has to keep up its image, especially after their minions like Credit Suisse keep getting their reputations in trouble. We'll know more in January when (or if) they release initial findings.

Switzerland has a fantastic economy and that comes from being at the forefront of most things as well as having a fantastic regulatory body in FINMA, as likely as this seems, for many people 'living' off bitcoin Switzerland will not be a great first choice as the living costs are much higher than many other places.

Really feel very happy to hear this being a bitcoin user. This is an example for other countries who do not accept bitcoins. As said, Switzerland is going to be the unique place where bitcoin is going to play a vital role in the country, slowly in all the countries. Hope to have the same environment in my country as soon as it can.

Switzerland is paradise not only in terms of bitcoin  :D But if the article states thruth, there is even no wonder for me