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Author Topic: Government Response to Bitcoin  (Read 1875 times)
miningusa
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May 09, 2013, 02:03:38 PM
 #41

No one can stop us!!
vanhal
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May 09, 2013, 02:04:40 PM
 #42

I'm more worried about the IRS!
ssinc
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May 09, 2013, 02:57:46 PM
 #43

BTC will likely be used to break the USD as the world reserve currency. Look at the recent adoption in China, insanity is an understatement.

ilostcoins
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May 09, 2013, 03:22:48 PM
 #44

If one of these coins are REALLY successful, it will be a threat to government power and they will try to suppress it. It will also threaten the status of USD as the de facto international currency. I just hope they can't take it down or by the time they try, too many of their citizens have a stake in the coin to just let them shoot it down.

By really successful, I mean a lot of people worldwide actually use it to trade goods and services, not just a small fraction of the world population hog it hoping it's value will increase.

LTC: LSyqwk4YbhBRtkrUy8NRdKXFoUcgVpu8Qb   NVC: 4HtynfYVyRYo6yM8BTAqyNYwqiucfoPqFW   TAG id: 4313
CMC: CAHrzqveVm9UxGm7PZtT4uj6su4suxKzZv   YAC: Y9m5S7M24sdkjdwxnA9GZpPez6k6EqUjUt
Aedius
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May 09, 2013, 04:09:05 PM
 #45

If the government wanted to shut down bitcoin they would've already done it. If they wait until more businesses adopt it as a payment processor they will receive a lot of backlash from the bitcoin community if they were to take it down.
Schrankwand
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May 09, 2013, 04:29:47 PM
 #46

If one of these coins are REALLY successful, it will be a threat to government power and they will try to suppress it. It will also threaten the status of USD as the de facto international currency. I just hope they can't take it down or by the time they try, too many of their citizens have a stake in the coin to just let them shoot it down.

By really successful, I mean a lot of people worldwide actually use it to trade goods and services, not just a small fraction of the world population hog it hoping it's value will increase.

You will still need to pay taxes to the government and they will still annoy you about it.

For a government, it is just a matter of thinking how to do this.
saudibull
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May 09, 2013, 05:19:07 PM
 #47

The only way they could control it is if they mined most and bought all, wont happen
MiningUnited
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May 09, 2013, 05:20:12 PM
 #48

Quote
You will still need to pay taxes to the government and they will still annoy you about it.

You will never need to pay taxes on BitCoin to BitCoin transactions. Only when converted to a fiat currency.
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