Government & Bitcoin

[jayce]

Nah, they won't ban it, it's just another area they can tax and add to gdp when they need to

But why they need to collect tax from bitcoin? What they are going to do with that coin? And i think they can't added to their gdp because they not own it and its decentralized.

They don't need it, they just want it. They want everything.

Actually of course they need bitcoin,but in other way,they're gonna collect the tax from bitcoin company not in bitcoin but in fiat  thats it always they did it,its a little secret why the goverment not ban it,they are already let bitcoin grow but not ban it coz they really need bitcoin

Yes the ridiculous government is waiting bitcoin to grow more as they can find the source of income out of it too in the form of the taxes they would never banned bitcoin as they are aware it is the future of the currency and they are aware that it is gonna profitable for them in the future.

some of those governments fear it because of this actually, because they will know that if they want to evade taxes they can do it with bitcon, and everything at their disposal

this is why some nations are banning it and some not

Yeah but some country banned it because of their culture and their faith. They want to use their own money or fiat money so that their economy will grow.

I'm not sure the economy of country will grow because of using fiat. The government just want to get taxes from anything, and if they don't get, it will be banned.

[mrhelpful]

Well the reality is, we cant escape tax.

I mean you can always stay with cash, but eventually when you want stuff and enjoy with the earned dollars. You`ll eventually have to use a business, and its all about lowering your tax percentage.

The economy grows everyday, its a matter of global growth.

[Amph]

Well the reality is, we cant escape tax.

I mean you can always stay with cash, but eventually when you want stuff and enjoy with the earned dollars. You`ll eventually have to use a business, and its all about lowering your tax percentage.

The economy grows everyday, its a matter of global growth.

actually you can escape from taxes, but only in one way, leaving the earth all togheter, with the next shipping for Mars with the mars one company, it may look like a joke, but it isn't, they are serious about this, it will begin in the 2025, and each year, other members will be added to be shipped there

[knowhow]

the only way to avoid taxes is living in the street soo governement will just pay you not tax you dont need to mars lol but well is a kind of live that i prefer to pay taxes

[arallmuus]

And we all know that government officials know the benefits that they can get if they put a tax for every transaction that will be made.

It cant be done, you as a BTC user supposed already know that this couldnt be done because each transaction is dependant and no one would know if the transaction is coming from the country or not
The only way they could benefit themselves with BTC would be by tax-ting every BTC/FIAT exchange, huge tax will then discourage most people to exchange their BTC

the only way to avoid taxes is living in the street soo governement will just pay you not tax

Unfortunately this deosnt stand for a developing country where there are alot of poor people living on the street and also there is alot of taxes, eventually when you buy something of a mini store there will be tax apply to your groceries as well

[cellard]

Well the reality is, we cant escape tax.

I mean you can always stay with cash, but eventually when you want stuff and enjoy with the earned dollars. You`ll eventually have to use a business, and its all about lowering your tax percentage.

The economy grows everyday, its a matter of global growth.

Isn't Elwar living 100% on Bitcoin not paying any taxes or my memory is failing me? I remember reading a thread (Elwar is a user here btw) where he was being able to live off BTC, he gets paid in BTC too, and didn't comment on taxes. I'll try to find the thread and see how he does it.

[Erdogan]

Far fetched, I know, but a state could come in a situation where it wants sound money. After a crisis, as a result of which the people in the land just understood inflation and debt creation, and where everybody suddenly wanted a small libertarian government. In which case they would want free, private money. One can always dream.

[Dotakels]

And we all know that government officials know the benefits that they can get if they put a tax for every transaction that will be made.

It cant be done, you as a BTC user supposed already know that this couldnt be done because each transaction is dependant and no one would know if the transaction is coming from the country or not
The only way they could benefit themselves with BTC would be by tax-ting every BTC/FIAT exchange, huge tax will then discourage most people to exchange their BTC

Making a tax that very huge to every exchanging of bitcoin will kills the user. because they earn it so hard so that they wouldn't agree with that law.

[manselr]

Having your bitcoins insured would be nice (Circle does that), but given that you can move your bitcoins in and out the exchange instantaneously, it's not that much of a problem. Having dollars of euros on an exchange is problem, because it takes days to move them (and it can be costly, too). Coinbase is the first exchange that guarantees dollar deposits, that's a major improvement.

[zeraTunerse]

And we all know that government officials know the benefits that they can get if they put a tax for every transaction that will be made.

It cant be done, you as a BTC user supposed already know that this couldnt be done because each transaction is dependant and no one would know if the transaction is coming from the country or not
The only way they could benefit themselves with BTC would be by tax-ting every BTC/FIAT exchange, huge tax will then discourage most people to exchange their BTC

the only way to avoid taxes is living in the street soo governement will just pay you not tax

Unfortunately this deosnt stand for a developing country where there are alot of poor people living on the street and also there is alot of taxes, eventually when you buy something of a mini store there will be tax apply to your groceries as well

The situation is even worst in developing countries as majority of the people have an average income and they have to pay taxes too so it becomes really difficult for them to save so I believe that government should wave off the taxes of the people below a certain income.

[arallmuus]

And we all know that government officials know the benefits that they can get if they put a tax for every transaction that will be made.

It cant be done, you as a BTC user supposed already know that this couldnt be done because each transaction is dependant and no one would know if the transaction is coming from the country or not
The only way they could benefit themselves with BTC would be by tax-ting every BTC/FIAT exchange, huge tax will then discourage most people to exchange their BTC

Making a tax that very huge to every exchanging of bitcoin will kills the user. because they earn it so hard so that they wouldn't agree with that law.

It doesnt matter if you agree or not because that is not your call to do so. Laws are the main thing government use to control his country and your job would be to bow down before the law ofcourse and ofcourse sooner or later once government start to acknowledge BTC and its threat to their economic structure then we will see a heavy tax on BTC/FIAT exchange to discourage user.

[knowhow]

And we all know that government officials know the benefits that they can get if they put a tax for every transaction that will be made.

It cant be done, you as a BTC user supposed already know that this couldnt be done because each transaction is dependant and no one would know if the transaction is coming from the country or not
The only way they could benefit themselves with BTC would be by tax-ting every BTC/FIAT exchange, huge tax will then discourage most people to exchange their BTC

Making a tax that very huge to every exchanging of bitcoin will kills the user. because they earn it so hard so that they wouldn't agree with that law.

It doesnt matter if you agree or not because that is not your call to do so. Laws are the main thing government use to control his country and your job would be to bow down before the law ofcourse and ofcourse sooner or later once government start to acknowledge BTC and its threat to their economic structure then we will see a heavy tax on BTC/FIAT exchange to discourage user.

well soo the black market will act to allow users to get the bitcoins as to sell them ,currently able to get them on exchanges... if government take a huge step ,btc comunity will find a way to avoid them .... the same think some people declare the btc ammount holding others just dont....

[dollarneed]

Having your bitcoins insured would be nice (Circle does that), but given that you can move your bitcoins in and out the exchange instantaneously, it's not that much of a problem. Having dollars of euros on an exchange is problem, because it takes days to move them (and it can be costly, too). Coinbase is the first exchange that guarantees dollar deposits, that's a major improvement.

How can  i insured my bitcoin on circle? yeah i think coinbase is safe to stored my bitcoin,anyway coinbase is a first exchange that guarantees dollar deposites, but actually we would never safe our bitcoin anywhere the first step that excelent is withdraw your bitcoin imediately to the fiat

[arallmuus]

It doesnt matter if you agree or not because that is not your call to do so. Laws are the main thing government use to control his country and your job would be to bow down before the law ofcourse and ofcourse sooner or later once government start to acknowledge BTC and its threat to their economic structure then we will see a heavy tax on BTC/FIAT exchange to discourage user.

well soo the black market will act to allow users to get the bitcoins as to sell them ,currently able to get them on exchanges... if government take a huge step ,btc comunity will find a way to avoid them .... the same think some people declare the btc ammount holding others just dont....

I doubt that it will go way that far. Worst thing would be that some people will be discouraged to exchange it to FIAT and the others might still be doing it as usual. It is pretty simple to avoid it anyway because people could do a peer-2-peer exchange without involving any exchanger thus this could be use to avoid the huge tax when you are exchanging it to FIAT

[Erdogan]

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[Amph]

Having your bitcoins insured would be nice (Circle does that), but given that you can move your bitcoins in and out the exchange instantaneously, it's not that much of a problem. Having dollars of euros on an exchange is problem, because it takes days to move them (and it can be costly, too). Coinbase is the first exchange that guarantees dollar deposits, that's a major improvement.

How can  i insured my bitcoin on circle? yeah i think coinbase is safe to stored my bitcoin,anyway coinbase is a first exchange that guarantees dollar deposites, but actually we would never safe our bitcoin anywhere the first step that excelent is withdraw your bitcoin imediately to the fiat

circle can cover your ass if you lost your balance, is in their policy, i think it's not much different than holding bitcoin on any exchange, and they will lose your coins because of their negligency, but only if it is their fault, otherwise your coins are not insured at all

[knowhow]

It doesnt matter if you agree or not because that is not your call to do so. Laws are the main thing government use to control his country and your job would be to bow down before the law ofcourse and ofcourse sooner or later once government start to acknowledge BTC and its threat to their economic structure then we will see a heavy tax on BTC/FIAT exchange to discourage user.

well soo the black market will act to allow users to get the bitcoins as to sell them ,currently able to get them on exchanges... if government take a huge step ,btc comunity will find a way to avoid them .... the same think some people declare the btc ammount holding others just dont....

I doubt that it will go way that far. Worst thing would be that some people will be discouraged to exchange it to FIAT and the others might still be doing it as usual. It is pretty simple to avoid it anyway because people could do a peer-2-peer exchange without involving any exchanger thus this could be use to avoid the huge tax when you are exchanging it to FIAT

if governments would think to attack bitcoin ,well for them is pretty easy to be buying bitcoins and trying to control the price...but why they should do that?they control the currencys already....countryes make the bump and dump very easy.... and yes a pression but when bank acts all market react

[dollarneed]

It doesnt matter if you agree or not because that is not your call to do so. Laws are the main thing government use to control his country and your job would be to bow down before the law ofcourse and ofcourse sooner or later once government start to acknowledge BTC and its threat to their economic structure then we will see a heavy tax on BTC/FIAT exchange to discourage user.

well soo the black market will act to allow users to get the bitcoins as to sell them ,currently able to get them on exchanges... if government take a huge step ,btc comunity will find a way to avoid them .... the same think some people declare the btc ammount holding others just dont....

I doubt that it will go way that far. Worst thing would be that some people will be discouraged to exchange it to FIAT and the others might still be doing it as usual. It is pretty simple to avoid it anyway because people could do a peer-2-peer exchange without involving any exchanger thus this could be use to avoid the huge tax when you are exchanging it to FIAT

if governments would think to attack bitcoin ,well for them is pretty easy to be buying bitcoins and trying to control the price...but why they should do that?they control the currencys already....countryes make the bump and dump very easy.... and yes a pression but when bank acts all market react

I think goverment doesnt have a time to attack bitcoin and control it,but if it''s happened maybe they have one important reason why they did it

[arallmuus]

It doesnt matter if you agree or not because that is not your call to do so. Laws are the main thing government use to control his country and your job would be to bow down before the law ofcourse and ofcourse sooner or later once government start to acknowledge BTC and its threat to their economic structure then we will see a heavy tax on BTC/FIAT exchange to discourage user.

well soo the black market will act to allow users to get the bitcoins as to sell them ,currently able to get them on exchanges... if government take a huge step ,btc comunity will find a way to avoid them .... the same think some people declare the btc ammount holding others just dont....

I doubt that it will go way that far. Worst thing would be that some people will be discouraged to exchange it to FIAT and the others might still be doing it as usual. It is pretty simple to avoid it anyway because people could do a peer-2-peer exchange without involving any exchanger thus this could be use to avoid the huge tax when you are exchanging it to FIAT

if governments would think to attack bitcoin ,well for them is pretty easy to be buying bitcoins and trying to control the price...but why they should do that?they control the currencys already....countryes make the bump and dump very easy.... and yes a pression but when bank acts all market react

For the bolded part, it is unclear about what currency are you talking about. If what you meant is BTC then you are wrong because the governments dont control BTC but if it is their country's currency then you are wrong again because their currency's currency isnt something to be pump or dump

P.S : To be honest it is pretty hard to understand what you write , perhaps you should use google translate to help you for the "wording"  of your post

[gripflierGO]

It doesnt matter if you agree or not because that is not your call to do so. Laws are the main thing government use to control his country and your job would be to bow down before the law ofcourse and ofcourse sooner or later once government start to acknowledge BTC and its threat to their economic structure then we will see a heavy tax on BTC/FIAT exchange to discourage user.

well soo the black market will act to allow users to get the bitcoins as to sell them ,currently able to get them on exchanges... if government take a huge step ,btc comunity will find a way to avoid them .... the same think some people declare the btc ammount holding others just dont....

I doubt that it will go way that far. Worst thing would be that some people will be discouraged to exchange it to FIAT and the others might still be doing it as usual. It is pretty simple to avoid it anyway because people could do a peer-2-peer exchange without involving any exchanger thus this could be use to avoid the huge tax when you are exchanging it to FIAT

if governments would think to attack bitcoin ,well for them is pretty easy to be buying bitcoins and trying to control the price...but why they should do that?they control the currencys already....countryes make the bump and dump very easy.... and yes a pression but when bank acts all market react

Governments will attack bitcoins in the future and that is for sure. Governments are very intelligent and criminal minded people they will only look at their profits so they are waiting for bitcoin to grow so once the bitcoin grows and reaches to the stable price they will definitely attack the bitcoin.