Government & Bitcoin

[HarryKPeters]

The government is going to always try and get their hands in things that are worth alot. If they think they can bring in a boatload of tax money from bitcoin sure as anything they are going to aim for it.

When there is money involved they are after you. When there is no money, they don't bother.

In a way i do understand they are after bitcoiners since some are using it to evade taxes, but bitcoin is not made to monitor or even to administrate.
This is something they don't understand.

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[MyBTT]

The US politicians's first decision was to accept bitcoin as a means of payment for campaign donations.

It's obvious what politicians want, campaign donations!


They will like bitcoin because it will make them easier to accept donations, there is no reason why they would ban it. The sooner the politicians realize this the better it will be fir bitcoin

You dont understand guys. Bitcoin wont be banned, all people love bitcoin:  banks, politicians, businessman, average Joe.

We can all be friends, no need to fight against eachother.

We don't understand. I am pretty sure we are the ones that understand, you don't understand. Bitcoin has already been banned it multiple countries, so that's your first point gone. Not everyone loves Bitcoin, if this was the situation, everyone would be using Bitcoin and at the moment, barely anyone is. You don't know what you are talking about. Get your facts straight and then post.

[avw1982]

The government is going to always try and get their hands in things that are worth alot. If they think they can bring in a boatload of tax money from bitcoin sure as anything they are going to aim for it.

Yup you are right dude. Many government in the world are holding their income through taxes only. Tax free are too make that in fees way.Thats why these people are not allowing people to use bitcoins in legal with Government acceptance. If its comes in common life with all people. Corruption and many thing remove from the world.

[Bitcoinbro]

The government is going to always try and get their hands in things that are worth alot. If they think they can bring in a boatload of tax money from bitcoin sure as anything they are going to aim for it.

Yup you are right dude. Many government in the world are holding their income through taxes only. Tax free are too make that in fees way.Thats why these people are not allowing people to use bitcoins in legal with Government acceptance. If its comes in common life with all people. Corruption and many thing remove from the world.

Maybe you are right on this bro.

But rememner the governement, any governement can reach only so far. Bitcoin transaction are hard to monitor. Paypal and banks they control.
Bitcoin not.

Perhaps, that's the reason why they don't like this bitcoin 'thingy'

[Altynbekova]

I think governments are afraid of bitcoin and are not well informed.
So we can expect more resistance from them.

However in time they will embrace it. Knowlegde is power!

[expert4knowledge]

Bitcoin works like a blade that can have  either positive or negative effects. For example they can reduce cost of banking, money printing of governments but they do need more rgulations

[smith coins]

The sharing economy is just going to continue to grow, and governments will be challenged to understand and manage its implications while embracing its benefits. However, governments will be at a significant disadvantage if they wait too long and newer technologies and markets will have already been developed that do not follow traditional models. Think of the following: Uber is the world’s largest taxi service and owns no cars. Airbnb provides lodging yet does not own real estate.

How will local governments adapt to these new ways of doing business that are disrupting traditional business models? All we know now is that governments are a long way from even contemplating and accepting this new reality.

As far as i know a small couyntry has implemented bitcoin as their currency but don't know if it is successful or not.
Moving completely from fiat to bitcoin it's really hard, but as an alternate currency it can work.

[virtualx]

The government is going to always try and get their hands in things that are worth alot. If they think they can bring in a boatload of tax money from bitcoin sure as anything they are going to aim for it.

Yup you are right dude. Many government in the world are holding their income through taxes only. Tax free are too make that in fees way.Thats why these people are not allowing people to use bitcoins in legal with Government acceptance. If its comes in common life with all people. Corruption and many thing remove from the world.

Fines are another source of income for governments. I have to agree, governments cannot easily confiscate bitcoins, which is why many are not very supportive about it.

[BigBoy89]

The government is going to always try and get their hands in things that are worth alot. If they think they can bring in a boatload of tax money from bitcoin sure as anything they are going to aim for it.

Yup you are right dude. Many government in the world are holding their income through taxes only. Tax free are too make that in fees way.Thats why these people are not allowing people to use bitcoins in legal with Government acceptance. If its comes in common life with all people. Corruption and many thing remove from the world.

Fines are another source of income for governments. I have to agree, governments cannot easily confiscate bitcoins, which is why many are not very supportive about it.

Yes but I think not in distant future government will try to get their hands into Bitcoin and ultimately fail to do anything because government just thinks like banks and feels like Bitcoin might to a threat to them, the best part about bitcoin is its digital hence they can't do anything.

[cazkooo]

Yes but I think not in distant future government will try to get their hands into Bitcoin and ultimately fail to do anything because government just thinks like banks and feels like Bitcoin might to a threat to them, the best part about bitcoin is its digital hence they can't do anything.

We all know that bitcoin is a threat already to every government in this world but government has alot of resources to do what they want and even if they cant do it at the surface they will do it underground by using any force necessary to take down any threat to their economy stabilization

[deisik]

We all know that bitcoin is a threat already to every government in this world but government has alot of resources to do what they want and even if they cant do it at the surface they will do it underground by using any force necessary to take down any threat to their economy stabilization

The threat that Bitcoin poses to any government is minuscule at best and laughable at least. Its market cap is not only pathetic by itself, but it is also fake at that...

Bitcoin liquidation value is in single digits

[expert4knowledge]

The sharing economy is just going to continue to grow, and governments will be challenged to understand and manage its implications while embracing its benefits. However, governments will be at a significant disadvantage if they wait too long and newer technologies and markets will have already been developed that do not follow traditional models. Think of the following: Uber is the world’s largest taxi service and owns no cars. Airbnb provides lodging yet does not own real estate.

How will local governments adapt to these new ways of doing business that are disrupting traditional business models? All we know now is that governments are a long way from even contemplating and accepting this new reality.

As far as i know a small couyntry has implemented bitcoin as their currency but don't know if it is successful or not.
Moving completely from fiat to bitcoin it's really hard, but as an alternate currency it can work.

It is very interesting and it can be a good practical exam for bitcoin, do you know the name of that  country?

[deisik]

The sharing economy is just going to continue to grow, and governments will be challenged to understand and manage its implications while embracing its benefits. However, governments will be at a significant disadvantage if they wait too long and newer technologies and markets will have already been developed that do not follow traditional models. Think of the following: Uber is the world’s largest taxi service and owns no cars. Airbnb provides lodging yet does not own real estate.

How will local governments adapt to these new ways of doing business that are disrupting traditional business models? All we know now is that governments are a long way from even contemplating and accepting this new reality.

As far as i know a small couyntry has implemented bitcoin as their currency but don't know if it is successful or not.
Moving completely from fiat to bitcoin it's really hard, but as an alternate currency it can work.

It is very interesting and it can be a good practical exam for bitcoin, do you know the name of that  country?

I guess this "country" is called Liberland, a joke in the face of Bitcoin

[n2004al]

The sharing economy is just going to continue to grow, and governments will be challenged to understand and manage its implications while embracing its benefits. However, governments will be at a significant disadvantage if they wait too long and newer technologies and markets will have already been developed that do not follow traditional models. Think of the following: Uber is the world’s largest taxi service and owns no cars. Airbnb provides lodging yet does not own real estate.

How will local governments adapt to these new ways of doing business that are disrupting traditional business models? All we know now is that governments are a long way from even contemplating and accepting this new reality.

As far as i know a small couyntry has implemented bitcoin as their currency but don't know if it is successful or not.
Moving completely from fiat to bitcoin it's really hard, but as an alternate currency it can work.

It is very interesting and it can be a good practical exam for bitcoin, do you know the name of that  country?

It is "Liberland" composed by only one person and "Principality of the Pontinha" composed (if are again there) by only a family with four people. So are jokes and nothing serious. Are more reactions of angry people than reality to take in consideration. There exist even one thread about the second "country" (only a rock on the side of the sea) here in bitcointalk. You can read it here: https://bitcointalk.org/index.php?topic=1288845.0

[expert4knowledge]

The sharing economy is just going to continue to grow, and governments will be challenged to understand and manage its implications while embracing its benefits. However, governments will be at a significant disadvantage if they wait too long and newer technologies and markets will have already been developed that do not follow traditional models. Think of the following: Uber is the world’s largest taxi service and owns no cars. Airbnb provides lodging yet does not own real estate.

How will local governments adapt to these new ways of doing business that are disrupting traditional business models? All we know now is that governments are a long way from even contemplating and accepting this new reality.

As far as i know a small couyntry has implemented bitcoin as their currency but don't know if it is successful or not.
Moving completely from fiat to bitcoin it's really hard, but as an alternate currency it can work.

It is very interesting and it can be a good practical exam for bitcoin, do you know the name of that  country?

It is "Liberland" composed by only one person and "Principality of the Pontinha" composed (if are again there) by only a family with four people. So are jokes and nothing serious. Are more reactions of angry people than reality to take in consideration. There exist even one thread about the second "country" (only a rock on the side of the sea) here in bitcointalk. You can read it here: https://bitcointalk.org/index.php?topic=1288845.0

LOL, so we can find much more of countries too. One person countries! Bitcoin needs some IT infrastructure, otherwise many poor countries with high inflation rate could set it.

[qWark]

The government is going to always try and get their hands in things that are worth alot. If they think they can bring in a boatload of tax money from bitcoin sure as anything they are going to aim for it.

Yup you are right dude. Many government in the world are holding their income through taxes only. Tax free are too make that in fees way.Thats why these people are not allowing people to use bitcoins in legal with Government acceptance. If its comes in common life with all people. Corruption and many thing remove from the world.

I'm surprised the goverment haven't stated taxing it yet,

As they need a finger in every pie.

[expert4knowledge]

The government is going to always try and get their hands in things that are worth alot. If they think they can bring in a boatload of tax money from bitcoin sure as anything they are going to aim for it.

Yup you are right dude. Many government in the world are holding their income through taxes only. Tax free are too make that in fees way.Thats why these people are not allowing people to use bitcoins in legal with Government acceptance. If its comes in common life with all people. Corruption and many thing remove from the world.

I'm surprised the goverment haven't stated taxing it yet,

As they need a finger in every pie.

I think developing some regulation for bitcoin is not easy and since it is not used widely among people so governments do not goad it much.

[Newcoins2020]

The government is going to always try and get their hands in things that are worth alot. If they think they can bring in a boatload of tax money from bitcoin sure as anything they are going to aim for it.

Yup you are right dude. Many government in the world are holding their income through taxes only. Tax free are too make that in fees way.Thats why these people are not allowing people to use bitcoins in legal with Government acceptance. If its comes in common life with all people. Corruption and many thing remove from the world.

I'm surprised the goverment haven't stated taxing it yet,

As they need a finger in every pie.

Certain countries do collect taxes from bitcoin income.
Some governments see bitcoin as a income, any profits you've made, you gotta pay taxes off that amount.

[Lucius]

If the government found a way to tax Bitcoin they would certainly have made that.But they have a problem of how to do it, because if the person who owns the Bitcoin does not report that it has Bitcoin how they charged tax at all?If Bitcoin succeed on a global scale no doubt that the government will find a way to take their share of the pie.

[expert4knowledge]

If the government found a way to tax Bitcoin they would certainly have made that.But they have a problem of how to do it, because if the person who owns the Bitcoin does not report that it has Bitcoin how they charged tax at all?If Bitcoin succeed on a global scale no doubt that the government will find a way to take their share of the pie.

They may be able to regulate by restricting the servers that provide services for websites such as blockchain and also control internet.