possible government regulations?

[Adelajda]

I see that the main concern of the governments is to tax bitcoin and try to find a way to get a hold of it or at least get the least bit of authority or control over it. So as I see it, any gains made with bitcoin would be considered as a capital gain, which would then be subject to be taxable. Also, if the government goes batshit crazy, they would ask you to sign up your name at a single bitcoin address so that you won't be able to evade taxes that they impose.

I am certain that governments around the world will find a way to tax bitcoin in future and since it is in its infant stage most of the government agencies are studying what this is all about and the time will come when this will find traction and then there will be a time when the IRS with the help of ISP will be monitoring everyones connection to find what they are doing and starts sending tax vouchers online

[arseaboy]

I see that the main concern of the governments is to tax bitcoin and try to find a way to get a hold of it or at least get the least bit of authority or control over it. So as I see it, any gains made with bitcoin would be considered as a capital gain, which would then be subject to be taxable. Also, if the government goes batshit crazy, they would ask you to sign up your name at a single bitcoin address so that you won't be able to evade taxes that they impose.

I am certain that governments around the world will find a way to tax bitcoin in future and since it is in its infant stage most of the government agencies are studying what this is all about and the time will come when this will find traction and then there will be a time when the IRS with the help of ISP will be monitoring everyones connection to find what they are doing and starts sending tax vouchers online

And hopefully these would not happen otherwise it will be a very chaotic time for us in bitcoin community.. and once that happen we cannot do anything but to obey these regulations. So for now, I'm not thinking about it.. just do what I have to do and that is to invest and make savings.

[harizen]

And hopefully these would not happen otherwise it will be a very chaotic time for us in bitcoin community.. and once that happen we cannot do anything but to obey these regulations. So for now, I'm not thinking about it.. just do what I have to do and that is to invest and make savings.

Most of the places needs local exchanges in order for people to use their bitcoin in/on other services. For local exchanges to become more trustable and expand their services, they need to be a legit one and must comply with the government rules and regulations. They have to pay tax and follow money regulations of a certain country to protect their users so it's a must that we obey those regulations. I see it's not chaotic as long as every people concern is always on hand.

There is no universal exchanger that can process our request of converting bitcoin fiat that accepts most of country. We need a third party companies here and that is the purpose of our local exchanges. Also in some of the cases, we are using bank services in able to convert our bitcoin into fiat.

Maybe in the future and as bitcoin development is on progress we can see a changed.

[Labumi]

I see that the main concern of the governments is to tax bitcoin and try to find a way to get a hold of it or at least get the least bit of authority or control over it. So as I see it, any gains made with bitcoin would be considered as a capital gain, which would then be subject to be taxable. Also, if the government goes batshit crazy, they would ask you to sign up your name at a single bitcoin address so that you won't be able to evade taxes that they impose.

I am certain that governments around the world will find a way to tax bitcoin in future and since it is in its infant stage most of the government agencies are studying what this is all about and the time will come when this will find traction and then there will be a time when the IRS with the help of ISP will be monitoring everyones connection to find what they are doing and starts sending tax vouchers online

And hopefully these would not happen otherwise it will be a very chaotic time for us in bitcoin community.. and once that happen we cannot do anything but to obey these regulations. So for now, I'm not thinking about it.. just do what I have to do and that is to invest and make savings.

Do a plan or the critically minded is something to be done, because without thinking that way then I'm sure anything we do is something that will only make a loss and surely all this will make our lives increasingly chaotic. It is indeed better to now follow the flow is taking place and for sure it will all be very good on time has been specified, just wait and see the results

[bamboylee]

I see that the main concern of the governments is to tax bitcoin and try to find a way to get a hold of it or at least get the least bit of authority or control over it. So as I see it, any gains made with bitcoin would be considered as a capital gain, which would then be subject to be taxable. Also, if the government goes batshit crazy, they would ask you to sign up your name at a single bitcoin address so that you won't be able to evade taxes that they impose.

That is what the government always wanted, to take money where they can take it.I am sure, once they figure a way to control bitcoin, they will tax it and take what little earning we get from it.

[deisik]

I see that the main concern of the governments is to tax bitcoin and try to find a way to get a hold of it or at least get the least bit of authority or control over it. So as I see it, any gains made with bitcoin would be considered as a capital gain, which would then be subject to be taxable. Also, if the government goes batshit crazy, they would ask you to sign up your name at a single bitcoin address so that you won't be able to evade taxes that they impose.

I am certain that governments around the world will find a way to tax bitcoin in future and since it is in its infant stage most of the government agencies are studying what this is all about and the time will come when this will find traction and then there will be a time when the IRS with the help of ISP will be monitoring everyones connection to find what they are doing and starts sending tax vouchers online

There is no agreement between governments on this issue

The US agencies regulating markets such as the CFTC tend to consider Bitcoin as a commodity, while in Europe (and I don't mean just the EU alone) governments are more inclined to treat Bitcoin as a foreign currency (for example, Switzerland and Russia). As to me, that seems to be a step in the right direction. Since almost all governments are already regulating the circulation of foreign currencies in a certain way (including taxing the income earned from the currency conversion operations where such operations are taxable), there is not much that is required to do to regulate or tax Bitcoin specifically

[South Park]

In as much as we are happy that the popularity of Bitcoin is getting larger and larger and corporations coupled with countries are getting interested in what is happening in cryptoworld, then I tell you the regulation is coming and its closer than it seems. Because I tried registered on some exchange sites for trading, for verification alone that have taken away my anonymity in which Bitcoin rests upon that even when the regulation is not high. Maybe when its fully here, even this forum might start asking for KYC but hopefully the advantages will outweigh the cost.

I partly agree with you, I think governments will put regulations only if they find that bitcoin is being used for illegal purpose and the most common reason is tax evasion. Governments can just put ban bitcoin and other crypto currencies on the grounds of law but they cannot stop growth of bitcoin completely because bitcoin was developed with the encryption technology and it’s almost near to impossible to crack it.

Dollars and other major fiat currencies are used for illegal activities on a significantly larger scale than Bitcoin, and tax evasion would look really pale in comparison with some of these activities. But I haven't heard that any government was going to ban its national currency just because it is being used by criminals. Ready money, otherwise known as cash, beats Bitcoin hands down in this respect. It doesn't leave a perpetual trace in some ledger like Bitcoin blockchain, it doesn't need Internet to function, and pretty big sums can be packed in hand bags and cases. On the other hand, the encryption technology that Bitcoin uses was developed by the NSA itself...

That is, by the National Security Agency of the United States, for those unfamiliar with the abbreviation

I can understand it sir but every government has its own currency and they will never ban it completely but on the other hand bitcoin is anonymous currency and deemed to be a foreign currency (which is not local currency) so there is no hassle for the government to take action on other currencies.
Yes, encryption is used by NSA and similar organizations but again, it’s backed by government but anyone using this technology against government (to evade tax) then any government will not entertain it.

Governments more than anything want control, so its no surprise they don't like one bit that the average person can now use military grade encryption on their computers, but in some countries there are laws put in place that state in no uncertain terms that if you encrypt a hard drive or something and you are subject of police investigation you are obligated to give your keys to authorities.

[traderethereum]

I see that the main concern of the governments is to tax bitcoin and try to find a way to get a hold of it or at least get the least bit of authority or control over it. So as I see it, any gains made with bitcoin would be considered as a capital gain, which would then be subject to be taxable. Also, if the government goes batshit crazy, they would ask you to sign up your name at a single bitcoin address so that you won't be able to evade taxes that they impose.

That is what the government always wanted, to take money where they can take it.I am sure, once they figure a way to control bitcoin, they will tax it and take what little earning we get from it.

this is what government will do and we all know that they can do it with easy and with their power. beside that if this is really happen, then i think we should obey them and don't fight with them because they will do what they can do to banned our life. like now, we can read that many country is now start to discuss about bitcoin because they realize that bitcoin is one of the good solution for they economic and in the end, they will start to integrate with bitcoin and maybe they will make regulations for bitcoins and we should pay the tax.

but i hope that they don't make the tax for bitcoin since bitcoin is not control by any source of institute or any else, and i hope the government will not make any bad regulations.

[freedomgo]

I see that the main concern of the governments is to tax bitcoin and try to find a way to get a hold of it or at least get the least bit of authority or control over it. So as I see it, any gains made with bitcoin would be considered as a capital gain, which would then be subject to be taxable. Also, if the government goes batshit crazy, they would ask you to sign up your name at a single bitcoin address so that you won't be able to evade taxes that they impose.

That is what the government always wanted, to take money where they can take it.I am sure, once they figure a way to control bitcoin, they will tax it and take what little earning we get from it.

this is what government will do and we all know that they can do it with easy and with their power. beside that if this is really happen, then i think we should obey them and don't fight with them because they will do what they can do to banned our life. like now, we can read that many country is now start to discuss about bitcoin because they realize that bitcoin is one of the good solution for they economic and in the end, they will start to integrate with bitcoin and maybe they will make regulations for bitcoins and we should pay the tax.

but i hope that they don't make the tax for bitcoin since bitcoin is not control by any source of institute or any else, and i hope the government will not make any bad regulations.

Though we are fighting for our right but it's the duty of the government to protect the interest of the many, whatever their actions should be respected and followed.

[sportis]

Most European governments, if they have not include provisions in their legislation they follow european directives. I believe that till now keep ‘wait and see’ policy and they expect another one EU directive too whether the occupation and bitcoin trade brings income so taxation is matter of time.

[Xester]

Most European governments, if they have not include provisions in their legislation they follow european directives. I believe that till now keep ‘wait and see’ policy and they expect another one EU directive too whether the occupation and bitcoin trade brings income so taxation is matter of time.

If in fiat there is money laundering, is there any possible way in bitcoin world is there also case for those people who are carrying too much bitcoins in thier wallet due to thier illegal activities? I think just like bank, the rules in international bank will slso apply by the government on bitcoins. I think putting tax on every transaction was on the number 1 list of the rules. but the question is how much could it be? And if you purchase using bitcoins, aside from transaction fee, how much is the additional payment for tax?

[tee-rex]

Most European governments, if they have not include provisions in their legislation they follow european directives. I believe that till now keep ‘wait and see’ policy and they expect another one EU directive too whether the occupation and bitcoin trade brings income so taxation is matter of time.

If in fiat there is money laundering, is there any possible way in bitcoin world is there also case for those people who are carrying too much bitcoins in thier wallet due to thier illegal activities? I think just like bank, the rules in international bank will slso apply by the government on bitcoins. I think putting tax on every transaction was on the number 1 list of the rules. but the question is how much could it be? And if you purchase using bitcoins, aside from transaction fee, how much is the additional payment for tax?

Methinks, you should rather ask yourself first how the government is going to collect such a tax if you think they are going to tax every Bitcoin transaction. That would obviously require changing the Bitcoin protocol and code base, but would anyone continue using such a Bitcoin even if that were possible? People would quickly switch to a Bitcoin fork without taxes hard coded in it.

[Carlsen]

Most European governments, if they have not include provisions in their legislation they follow european directives. I believe that till now keep ‘wait and see’ policy and they expect another one EU directive too whether the occupation and bitcoin trade brings income so taxation is matter of time.

If in fiat there is money laundering, is there any possible way in bitcoin world is there also case for those people who are carrying too much bitcoins in thier wallet due to thier illegal activities? I think just like bank, the rules in international bank will slso apply by the government on bitcoins. I think putting tax on every transaction was on the number 1 list of the rules. but the question is how much could it be? And if you purchase using bitcoins, aside from transaction fee, how much is the additional payment for tax?

Methinks, you should rather ask yourself first how the government is going to collect such a tax if you think they are going to tax every Bitcoin transaction. That would obviously require changing the Bitcoin protocol and code base, but would anyone continue using such a Bitcoin even if that were possible? People would quickly switch to a Bitcoin fork without taxes hard coded in it.

Taxing a bitcoin transaction makes no sense from a technical point of view.
I think that taxes for exchanging bitcoin into fiat and back will be something we will see sooner or later in every country.
That's a point where a government can use it's power over the bank accounts of the people.

[Kotone]

Since bitcoin and other digital currencies are such a game changer for the traditional economics systems, could there be any government policies that can be devastating to this new market? and even if governments in North America or Europe might not be able to do such things, how about policies from other more centralized countries that could bring the same effect?

I think goverment will never create a regulation about bitcoin and the matter of fact that goverment don't really cares what will happening in bitcoin now as long as they are earning in real world and if they are going to charge trading and transaction well let's wait until the news further.

[South Park]

Most European governments, if they have not include provisions in their legislation they follow european directives. I believe that till now keep ‘wait and see’ policy and they expect another one EU directive too whether the occupation and bitcoin trade brings income so taxation is matter of time.

If in fiat there is money laundering, is there any possible way in bitcoin world is there also case for those people who are carrying too much bitcoins in thier wallet due to thier illegal activities? I think just like bank, the rules in international bank will slso apply by the government on bitcoins. I think putting tax on every transaction was on the number 1 list of the rules. but the question is how much could it be? And if you purchase using bitcoins, aside from transaction fee, how much is the additional payment for tax?

But with bitcoin we have complete control over our money how are they going to collect such taxes from every transaction? Remember they don't control the network so they cannot simply impose whatever rules they like.

[mrcash02]

Most European governments, if they have not include provisions in their legislation they follow european directives. I believe that till now keep ‘wait and see’ policy and they expect another one EU directive too whether the occupation and bitcoin trade brings income so taxation is matter of time.

If in fiat there is money laundering, is there any possible way in bitcoin world is there also case for those people who are carrying too much bitcoins in thier wallet due to thier illegal activities? I think just like bank, the rules in international bank will slso apply by the government on bitcoins. I think putting tax on every transaction was on the number 1 list of the rules. but the question is how much could it be? And if you purchase using bitcoins, aside from transaction fee, how much is the additional payment for tax?

But with bitcoin we have complete control over our money how are they going to collect such taxes from every transaction? Remember they don't control the network so they cannot simply impose whatever rules they like.

They can impose taxes to sellers build and keep their sites, so the sellers will increase the price of their stuff. In the end the buyer will need to pay more per product because the government taxed it.

It's much possible this can happen when Bitcoin become more popular, the governmenr always create ''creative'' ways to take more money from the population, the imagination is the limit for them, and unfortunelly there isn't much we can do against them.

[ErikSneijer]

Maybe in the future this can happen but I do not think it will, we really need some patient and just hope on the best, most likely in the future there will be some!

[diegz]

Since bitcoin and other digital currencies are such a game changer for the traditional economics systems, could there be any government policies that can be devastating to this new market? and even if governments in North America or Europe might not be able to do such things, how about policies from other more centralized countries that could bring the same effect?

I think goverment will never create a regulation about bitcoin and the matter of fact that goverment don't really cares what will happening in bitcoin now as long as they are earning in real world and if they are going to charge trading and transaction well let's wait until the news further.

Who knows. Since bitcoin is affecting people and been used by people, for sure government might create or formulate a law. Though they never care about bitcoin,  but if it is affecting the community, and there are crimes (theft, or worst than that ) that happens because of bitcoin, for sure they will do something and create a law  to mitigate the problem.

[Ziskinberg]

Since bitcoin and other digital currencies are such a game changer for the traditional economics systems, could there be any government policies that can be devastating to this new market? and even if governments in North America or Europe might not be able to do such things, how about policies from other more centralized countries that could bring the same effect?

I think goverment will never create a regulation about bitcoin and the matter of fact that goverment don't really cares what will happening in bitcoin now as long as they are earning in real world and if they are going to charge trading and transaction well let's wait until the news further.

Who knows. Since bitcoin is affecting people and been used by people, for sure government might create or formulate a law. Though they never care about bitcoin,  but if it is affecting the community, and there are crimes (theft, or worst than that ) that happens because of bitcoin, for sure they will do something and create a law  to mitigate the problem.

So do you really think fiat was not use for illegal activities like on what you have mentioned, if that is the case then we should ban fiat then. Bitcoin can be regulated but not for the system to change, we will always be decentralized as that is our main core.

[simpler2016]

Since bitcoin and other digital currencies are such a game changer for the traditional economics systems, could there be any government policies that can be devastating to this new market? and even if governments in North America or Europe might not be able to do such things, how about policies from other more centralized countries that could bring the same effect?

I think goverment will never create a regulation about bitcoin and the matter of fact that goverment don't really cares what will happening in bitcoin now as long as they are earning in real world and if they are going to charge trading and transaction well let's wait until the news further.

Who knows. Since bitcoin is affecting people and been used by people, for sure government might create or formulate a law. Though they never care about bitcoin,  but if it is affecting the community, and there are crimes (theft, or worst than that ) that happens because of bitcoin, for sure they will do something and create a law  to mitigate the problem.

So do you really think fiat was not use for illegal activities like on what you have mentioned, if that is the case then we should ban fiat then. Bitcoin can be regulated but not for the system to change, we will always be decentralized as that is our main core.

Dollars more frequently used for illegal activities and support for terrorism. The problem is not in this. The problem is that the government wants to control everything, and Bitcoin is difficult to control