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Author Topic: Why bitcoins illegal ????  (Read 13116 times)
btvlGainer
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February 26, 2017, 07:35:57 AM
 #261

Even if you use Bitcoins directly (for supermarket purchases, utility bills, buying gasoline.etc), it can be taxed. The government can just ask the retail chain to impose a surcharge on the Bitcoin payments. So if you are paying with BTC, there will be a 2% or 3% surcharge, and this amount will go to the government as tax.
Interesting point dude.
Some governments and countries recognize Bitcoin but they make a regulations that they will benefit it like inputting taxes from exchanges.
that's right they are panning to put taxes with exchange so they can benefits with btc, might be much better instead of banning bitcoin we should be happy if government will place some actions to make some earnings too like taxing local exchange in our respective countries in this way adoption or recognizing bitcoin will be much possible in every nations.
If bitcoin will be used in unlawful transactions, the major governments will be forced to either make all for the ban.
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Sithara007
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February 26, 2017, 10:43:03 AM
 #262

Even if you use Bitcoins directly (for supermarket purchases, utility bills, buying gasoline.etc), it can be taxed. The government can just ask the retail chain to impose a surcharge on the Bitcoin payments. So if you are paying with BTC, there will be a 2% or 3% surcharge, and this amount will go to the government as tax.
Interesting point dude.
Some governments and countries recognize Bitcoin but they make a regulations that they will benefit it like inputting taxes from exchanges.
that's right they are panning to put taxes with exchange so they can benefits with btc, might be much better instead of banning bitcoin we should be happy if government will place some actions to make some earnings too like taxing local exchange in our respective countries in this way adoption or recognizing bitcoin will be much possible in every nations.
If bitcoin will be used in unlawful transactions, the major governments will be forced to either make all for the ban.

If a majority of the coins are used for illegal transactions, then I will agree. But if just 1% or 2% of the total coins in circulation are used for illegal purposes, will you support the ban on bitcoin? It is not fair.

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March 03, 2017, 06:49:39 AM
 #263

Even if you use Bitcoins directly (for supermarket purchases, utility bills, buying gasoline.etc), it can be taxed. The government can just ask the retail chain to impose a surcharge on the Bitcoin payments. So if you are paying with BTC, there will be a 2% or 3% surcharge, and this amount will go to the government as tax.
Interesting point dude.
Some governments and countries recognize Bitcoin but they make a regulations that they will benefit it like inputting taxes from exchanges.
that's right they are panning to put taxes with exchange so they can benefits with btc, might be much better instead of banning bitcoin we should be happy if government will place some actions to make some earnings too like taxing local exchange in our respective countries in this way adoption or recognizing bitcoin will be much possible in every nations.
If bitcoin will be used in unlawful transactions, the major governments will be forced to either make all for the ban.

If a majority of the coins are used for illegal transactions, then I will agree. But if just 1% or 2% of the total coins in circulation are used for illegal purposes, will you support the ban on bitcoin? It is not fair.
Some logic in those words is still there. The fact is that if the authorities still decide to make bitcoin legal, it will happen only when it finds the ability to control all financial transactions and that all users report their income and taxes paid. Therefore, if the users agree on legalization, we should be ready to control.
tetrisbattle
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March 03, 2017, 08:30:37 AM
 #264

bitcoin has no central government so any of gov department cant track the transaction so some of the contry still bann for the bitcoin use Roll Eyes
MattScott
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March 03, 2017, 01:21:04 PM
 #265

Even if you use Bitcoins directly (for supermarket purchases, utility bills, buying gasoline.etc), it can be taxed. The government can just ask the retail chain to impose a surcharge on the Bitcoin payments. So if you are paying with BTC, there will be a 2% or 3% surcharge, and this amount will go to the government as tax.
Interesting point dude.
Some governments and countries recognize Bitcoin but they make a regulations that they will benefit it like inputting taxes from exchanges.
that's right they are panning to put taxes with exchange so they can benefits with btc, might be much better instead of banning bitcoin we should be happy if government will place some actions to make some earnings too like taxing local exchange in our respective countries in this way adoption or recognizing bitcoin will be much possible in every nations.
If bitcoin will be used in unlawful transactions, the major governments will be forced to either make all for the ban.

If a majority of the coins are used for illegal transactions, then I will agree. But if just 1% or 2% of the total coins in circulation are used for illegal purposes, will you support the ban on bitcoin? It is not fair.
Some logic in those words is still there. The fact is that if the authorities still decide to make bitcoin legal, it will happen only when it finds the ability to control all financial transactions and that all users report their income and taxes paid. Therefore, if the users agree on legalization, we should be ready to control.
If the use of bitcoins will have to pay taxes and all transactions will lose the anonymity that bitcoin will be the same currency as everyone else. Why would it then need? I think it will be the end of bitcoin.
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March 04, 2017, 08:27:10 PM
 #266

Just I wrote a comment to a thread where users are hoping that bitcoin will save the world. But I want to say that if bitcoin will be drawn into illegal transactions, it is very much hurt bitcoin.
tetrisbattle2
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March 10, 2017, 03:53:02 AM
 #267

in my country bitcoin is accept in some place only but government is scare about illegal activity or to cover illegal activity
sample has been proof like they use bitcoin to do drug transaction and firearm
t2yax
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March 10, 2017, 08:08:24 AM
 #268

in my country bitcoin is accept in some place only but government is scare about illegal activity or to cover illegal activity
sample has been proof like they use bitcoin to do drug transaction and firearm

It is good to let the government decide whether they can use the bitcoin or not. We should let them first use the bitcoins, because we cannot use them illegally. We cannot assure that bitcoin will last because it includes money, we know how important the bitcoin is. Government must implement bitcoin first, before we gonna buy or we gonna use bitcoins. Instead of using bitcoin, we should know what will be the advantages and disadvantages of it.

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Sithara007
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March 13, 2017, 08:45:26 AM
 #269

in my country bitcoin is accept in some place only but government is scare about illegal activity or to cover illegal activity
sample has been proof like they use bitcoin to do drug transaction and firearm

The governments (especially those in the third world) don't know much about the advantages of Bitcoin. What little information they get is from the highly biased mainstream media. It is our responsibility to educate these people about Bitcoin.

FlightyPouch
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March 14, 2017, 02:47:59 AM
 #270

bitcoin has no central government so any of gov department cant track the transaction so some of the contry still bann for the bitcoin use Roll Eyes

It is used on some illegal activities and the Government do not know anything about it because they cant track the transactions of Bitcoin. Although some country still accept bitcoin without thinking this.
If you think of it, Bitcoin really favor the users, than the Government. Bitcoin is free and you can really do anything with it, that is freedom for you, though that is the reason why some government are minimizing the use of these digital currencies.


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Chin Cheng
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March 14, 2017, 06:18:21 AM
 #271

bitcoin has no central government so any of gov department cant track the transaction so some of the contry still bann for the bitcoin use Roll Eyes
Bitcoin does not have a central government but everything is transparent when it comes to bitcoin as you can check each and every transaction in the blockchain. So it is basically not a untraceable currency like you think it is.Why government are not approving is a different debate altogether as they might be learning about it.
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March 14, 2017, 07:01:59 AM
 #272

While not illegal here the states I do notice that even recent media reports about Bitcoin talk about it being used for illegal purposes.  Lately this seems to be the news :

Bitcoin hit a new record high
Bitcoin is a digital currency that can be used for anonymous drug purchasing.


Forget all the regular day to day stuff the bulk of bitcoin transactions account for, let's focus on the few instances of bad.

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Sithara007
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March 14, 2017, 09:38:22 AM
 #273

bitcoin has no central government so any of gov department cant track the transaction so some of the contry still bann for the bitcoin use Roll Eyes
Bitcoin does not have a central government but everything is transparent when it comes to bitcoin as you can check each and every transaction in the blockchain. So it is basically not a untraceable currency like you think it is.Why government are not approving is a different debate altogether as they might be learning about it.

Bitcoin may not be 100% anonymous, but it is quite difficult to trace the transactions back to a particular individual. I am not saying that it is not possible (for example a few users traced back the Sheep Marketplace thief), but it takes a lot of effort and time.

numismatist
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March 14, 2017, 09:45:33 AM
 #274

in my country bitcoin is accept in some place only but government is scare about illegal activity or to cover illegal activity
sample has been proof like they use bitcoin to do drug transaction and firearm
In another country they use funny money painted mostly in green, to purchase firearms in a drugstore!
Maybe the fundamental problem is hypocrisy, not currency.

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March 14, 2017, 12:16:25 PM
 #275

It was banned, because they can not control. To prohibit such a currency is meaningless. It can not be taken or proved that it is someone's. It is also pointless to officially recognize such a currency.
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March 18, 2017, 10:27:15 AM
 #276

Why is anything illegal? Normally because the government has made a law that should in principle protect the citizens or the stability of the society that they have been trusted to govern.  Moving massive economic value out of the country, has a destabilizing effect on the economy, at least in theory. And bitcoin is considered one such threat.
Winter1986
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March 18, 2017, 10:38:44 AM
 #277

While not illegal here the states I do notice that even recent media reports about Bitcoin talk about it being used for illegal purposes.  Lately this seems to be the news :

Bitcoin hit a new record high
Bitcoin is a digital currency that can be used for anonymous drug purchasing.


Forget all the regular day to day stuff the bulk of bitcoin transactions account for, let's focus on the few instances of bad.
I think that buying illegal goods with the help of bitcoin, is not a reason to prohibit crypto currency. Drugs and dollars are buying, but the dollar today is very well in the currency market.
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