Here in the Philippines, it is not yet implemented that Bitcoin required taxes. In my research about that I read this information which verify that it is not yet required in the Philippines: Here is it 'The Philippine Bureau of Internal Revenue (BIR) has not yet issued clear guidelines on the tax treatment of bitcoin transactions. However, it is clearly written in the internal revenue laws that any type of income earned by a Filipino citizen shall be taxed unless expressly exempted."
I am also from the Philippines and whether we like it or not, we are indirectly paying taxes from our income in bitcoin. Basically, all commodities are taxable and the manufacturers of these commodities passes these taxes to us, the consumers. I think the government very much aware on that issue they take that scenario as positive sign for economy of the country, tax collector have a mindset already that whatever income of the people derived from any form of business are used to purchase goods that subject for taxes. |
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You have to pay first your taxes even small taxes you should pay it.
In our country all business man, government employee and even athletes are need to pay there taxes. How much more if your earned million and you have luxurious house and cars.
Cryptocurrencies are decentralized government has no full control in any income derived from it. But if you use your income to purchase anything still the government earned taxes from your money, the more people engaged bitcoin the more money also back to the government. |
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Cash is still being the best way if you want to make anonymous payments. Do you agree with it? Also 85% of transactions are currently in cash. What do you think about cash on blockchain, backed by gold ( https://goldencurrency.world )? It is best for the small transactions but how about the transaction in millions you can't transfer big amount via cash,if you do you will be taxed but in bitcoin there is no tax no problem you just need the sender address then you can able to send anywhere in the world. It's still a good idea for limited purposes only we can use cash transactions in small and medium enterprise for easy and convenient payment without any form of confirmation of the owner, but how about big transactions that required documents. Different from cryptocurrency which the transaction done via Internet. |
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I recognize bitcoin on various social media might be like this way to promote bitcoin, and I invite all of us to this news because most people still do not know the bitcoin tentsng and also they are not very trusting. And that in this we will learn together and will get a profit.
They won't understand it fully if no one gives them a proper knowledge or explain bitcoin to them in simple ways on how it works. Even if you promote it to social media sites like bitcoin some people still bypass it because they think its a scam/fraud. Set by example is one way of positive promotion, a good friend of mine who engaged this business for less than a year now earn financial liberty. He shared his knowledge about bitcoin to his co workers and guide them to earn their living in this furom. |
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In cryptocurrencies you are more likely to earn more if you just hodl a coin than trading. If you aren't experienced in trading then you shouldn't dive into it. You need to research into this field for at least few months then think about anything.
Cryptocurrencies are volatile in nature we must observe it's movement in the market in order to gain more, don't let your emotions ruin plan in trading your assets remember the more time you hold your coin the more the temptation will come that make your investment deficit. |
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It sounds crazy, but it may be incorporated into the economic curriculum.
students are given knowledge of the digital currency and how it is used. this is the same as teaching children to save in Banks and credit cards.
I'm not sure it will be implemented any time soon.
Maybe in special curriculum in higher education just basic idea or introduction to cryptocurrency also serve as information drive to prepare them to face the real world after they finished their studies. If it is taught in lower education younger students might be confused in their individual field of study and can invite them to practice early in the business and force them to stop their studies. |
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BTC itself is central bank, BTC is money!
Banks are naturally afraid of competition, which will bring new competition to financial markets and replace some of the Banks' businesses!
Less banking means less profit!
Right. Being in crypto, we are our own bank. So its obvious that banks doesn't like bitcoin because they are going to lose potential profits from it. Imagine people not going into the usual route when moving money around. That's billions of dollars getting out of their hands. So to eliminate competition, they will attack it. They are waging wars against bitcoin now and I think it will be a continuing battle. But bitcoin will not eliminate banks, and it has no intention to do in the future. Of course that's the game of the business the banks seen already that bitcoin is possible rival in their business, cryptocurrency can provide their own wallet it means less clients for the bank. Digital currency can manipulate its transaction by not doing the normal bank procedure. Banking business still needed for fiat transactions that's their advantage. |
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Bitcoin will change the financial conditions of the Bitcoin holders in near future because Bitcoin is considered as the future currency of the world.
Since the bitcoin is accepted already as an alternate method of transaction even it is digitally base has a factor to contribute our way of living. Online trading, different transactions done by this digital currency I think as of this early time bitcoin has done its part slowly change the world in different aspects. |
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Does Bitcoin Need The Social Media's Help To Promote Itself?Well, Bitcoin needs all the help that we can get. With its current situation, Bitcoin Foundation is just thinking out of the box to help Bitcoin recover and might even succeed. With the help of Social Media, bitcoin can attract new and young users. Learn about bitcoin and eventually adopt it. Maybe this is the first step of mass adoption. What do you think? We need every help that we can get.  Since it is digital in nature social media promotion is a plus factor of introducing this business, social sites nowadays is one source of information in this new generation. |
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Merit system is introduced to promote quality content on the forum. However, it will take some time to inculcate the habit of sending merits in my opinion. Consider merits like a Facebook like, you are not supposed to like your own posts but if someone likes it then you get the count under your post. There is a limit on the number of outgoing merits, so you have to share your knowledge in the best manner if you are expecting merits from other members.
As a neophyte in this forum I must follow the proper procedures on how to get merit. I need to impress the members of this forum by posting quality and relevant ideas about certain topics. Exert efforts to get things in a proper manner. |
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In my own opinion bitcoin makes valuable because of its high value and a lot of people considering that bitcoin is one of the solution in terms of financial needs. Aside from that bitcoin is nontaxable, uses for online payments system and easier to transact from country to another. Bitcoin cannot be hacked easier and the security stricted.
Not the value itself bitcoin is the mother of all other altcoin since it's decentralized in nature no one has a full control of it. Like any kind of new business introduced in the market get the attention of possible investors. The secured system also gives an assurance and invite people to participate in the business. |
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It's nice to know that our country is trying and pursuing to use bitcoin. I think it could help our government to rising up and improving our economy. A great opportunity will come to all Filipino's when bitcoin was already legalized and fully established to our country. I can see and imagine a great future to our economy and to our country's wealth when adapting and enhancing bitcoin will successfully done.. As developing country its very much welcome to our economy, it's help a lot of people in a certain country to know the system and how to maximize it in order earn a living. |
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That is not taught in any educational institution, it was learn in case to case basis by our daily activities and experience. People must learn how to save and invest in proper place for their future and for the growth of the economy.
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Perhaps the basic idea, the introduction about bitcoin and even in early stage of age, students need to learn and practice the system. It will help them to become stable and secure themselves. The more practice bitcoin the merrier.
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It gives more trust to the investors and positive sign that the system will be more available. Securing and regulating any form of business is a good advantage of development. It's also a way to advertise and let more people knowledgeable about the business.
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Competition is one reason, cause they knew that cryptocurrencies can hold its own assets without the bank. Since it is digital currency and it is decentralized banks cannot get benefits from it. I think they find a way to get envolve in the system cause it's a huge business around cryptocurrency, and many people nowadays are more curious about crypto.
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They afraid not to get taxes from this business and their economy not ready to absorb the entire system. In other side, the revenue enyoy by the people practicing bitcoin are used to buy goods that help circulate the economy of certain community.
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Educate people let them practice and patronize bitcoin it's a domino effect, the system, different establishment, public and private transaction and the government will follow that's why there's a change.
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Of course they adopt changes that is the constant thing happen in the world, I think as of this time they have already an alternative plan if crypto become the mode of transaction in exchange of fiat.
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