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richfund_Pe
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November 24, 2017, 09:44:13 PM
 #1

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?
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November 25, 2017, 11:06:43 AM
 #2

We are working on GR for solving such cases.
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November 25, 2017, 11:46:48 AM
 #3

We are working on GR for solving such cases.

Do you mean that you are working on a government resolution for bitcoin? If yes, may I ask which country are you from? Also what the government is thinking about bitcoin? Can you please shed some light on it?

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November 25, 2017, 02:05:33 PM
 #4

Every government is afraid of bitcoin. They only think about how to bitcoin collapsed and this nightmare was over for them. In government there are no people with new thinking. They are all proteges of the existing clan system. They have now all is well and they don't want to change anything. Here we sit on the twine. To ban bitcoin can't, and admit it does not want.
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November 25, 2017, 02:59:20 PM
 #5

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

If the governments are afraid to Bitcoin maybe they are just protecting their citizens for the wrong usage of Bitcoin as a digital money, I think every government in the world must make a specific department like for example 'Department of Cryptocurrency' to study the benefits and negative impacts of Bitcoin and other cryptocurrency in future of their country because it is now a trend and more new people in different countries are in these Bitcoin scene.
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November 25, 2017, 08:10:45 PM
 #6

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

Obviously. Governments won't be able to regulate it and that is the biggest reason why they don't want to legalize it, because if they legalize the use of Bitcoin, and if they are not able to regulate it the way they want, then they cannot know the usage of anyone which doesn't allow them to put taxes on them. Though circulation wouldn't be a problem, but earnings and the tax evasion are the major problems in my opinion.

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November 25, 2017, 11:00:52 PM
 #7

I think we all know why and it's exactly that. Also, it's unfamiliar ground. In the US, we also need to consider the interests of the big banks that have tons of lobbyists.
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November 26, 2017, 03:45:31 AM
 #8

That is the best option they have. If it's difficult to regulate it for the reasons you said, now imagine how hard it would be to ban Bitcoin and follow everyone who uses it. At least regulating, it is more interesting for them as they will get $ in taxes from users. I'm not saying it would be good for everyone (for users), but it would be surely good for governments.

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November 26, 2017, 05:16:36 AM
 #9

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

Bitcoin is something new and a different animal and many governments are finding it hard on how to treat this new innovation. Rather than risks what can happen, some governments just made a decision to ban the buy and sell activities related to it. Time is coming though when even China would be opening its door again to the cryptocurrency revolution. Let's just give them the necessary time to made some adjustments. All over the world, Bitcoin has already proven to be of big help in times of economic turmoil as it can be a  good vehicle to park one's asset and can be used as a medium of exchange when the economy is suffering from severe inflation (Bitcoin is increasing in value while national currencies are going down!). Bitcoin is unstoppable but there are humps and bumps along its road and this is just normal.

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November 26, 2017, 09:57:06 AM
 #10

In essence I think for the countries that hasn't legalized bitcoin.. it's because the government still concidered about the many risks that will be experienced to the country. And I think the banking system is still trying to really be able can regulating the digital currency/Bitcoin.

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November 26, 2017, 09:58:54 AM
 #11

Legalizing in which aspects? I think there are various levels of how far a government would go to legalize it. Japan is a great example of how the government has embraced bitcoin and officially recognised it as a legal method of payment in Japan. It will be interesting to see how this plays out and a case study that other governments can reference to.
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November 26, 2017, 12:06:15 PM
 #12

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

I think the government don't know how to control bitcoin yet. Because in bitcoin people can do dark transactions from dark website.
Bitcoin transactions also can't be tracking, so the government still afraid about that part also.

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November 26, 2017, 12:11:24 PM
 #13

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

Obviously. Governments won't be able to regulate it and that is the biggest reason why they don't want to legalize it, because if they legalize the use of Bitcoin, and if they are not able to regulate it the way they want, then they cannot know the usage of anyone which doesn't allow them to put taxes on them. Though circulation wouldn't be a problem, but earnings and the tax evasion are the major problems in my opinion.
Why would the government legalize bitcoin? It is nonsense. Users will hide their income. The courts will many businesses that the government will lose. Income in bitcoins can be obtained in the jurisdiction of other States. Let the government learn to control the Fiat. Then they will have taxes without any control over bitcoin.
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November 26, 2017, 10:49:36 PM
 #14

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?
They are not afraid of it just because it's hard to regulate. The government can simply tax the local exchanges that are operating to them and let the exchange do the job of putting an hidden tax to their service.

The real reason why governments are afraid to legalize bitcoin is the use of it. Bitcoin can be used for hiding wealth, tax evasion is also one of it but that's not the case since they can do something about it.

The usage of bitcoin for illegal acts such as funding terrorist and other dark marketplaces trade involved.

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November 27, 2017, 02:20:50 AM
 #15

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?
They are not afraid of it just because it's hard to regulate. The government can simply tax the local exchanges that are operating to them and let the exchange do the job of putting an hidden tax to their service.

The real reason why governments are afraid to legalize bitcoin is the use of it. Bitcoin can be used for hiding wealth, tax evasion is also one of it but that's not the case since they can do something about it.

The usage of bitcoin for illegal acts such as funding terrorist and other dark marketplaces trade involved.

there are indeed a variety of factors that cause the government not to legalize bitcoin, and I agree with you about the government's concerns about misuse of bitcoin for an illegal activity that is their main reason to always consider the legalization of bitcoin
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November 27, 2017, 09:20:36 AM
 #16

I am pertaining to the country who is not yet finalized their Bitcoin regulation, They are not yet fully familiar on it, why expect them to get it done quickly?, They are still on the observing phase, yes they allow it because they are observing it, if it will affect the country, politically, economically? Will the after effect is good or not. It is not because they are afraid. It is easy to regulate cryptocurrency when you directly regulate the exchanges.
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November 27, 2017, 06:11:13 PM
 #17

The government is not profitable to legalize bitcoin. Now there is such situation that the government is more profitable to do nothing. To ban bitcoin, it is impossible. Legalization could lead to unpredictable consequences in the economy. We were lucky. We can continue to enjoy their freedom.

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jeansergio173
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November 27, 2017, 07:01:04 PM
 #18

Every government is afraid of bitcoin Grin
jossiel
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November 27, 2017, 07:17:03 PM
 #19

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?
They are not afraid of it just because it's hard to regulate. The government can simply tax the local exchanges that are operating to them and let the exchange do the job of putting an hidden tax to their service.

The real reason why governments are afraid to legalize bitcoin is the use of it. Bitcoin can be used for hiding wealth, tax evasion is also one of it but that's not the case since they can do something about it.

The usage of bitcoin for illegal acts such as funding terrorist and other dark marketplaces trade involved.

there are indeed a variety of factors that cause the government not to legalize bitcoin, and I agree with you about the government's concerns about misuse of bitcoin for an illegal activity that is their main reason to always consider the legalization of bitcoin
Those things that I mentioned are the only few things that we may take consideration from them.

We are still far for seeing a world that has only one coin to support but if all these organizations, countries and unions will have a meeting about legalizing bitcoin that will be an easy thing for countries to legalize bitcoin.

There will be conduct of usage so that everyone will be guided.

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November 27, 2017, 07:17:46 PM
 #20

I'm new to bitcoin but it's still plain to see that the government will eventually have no bearing over it. In fact, they never did, just think of all the things people can get their hands on. It's the governments job to regulate and bitcoin practically regulates itself. If said gov't had a lick of sense, they'd embrace the bitcoin revolution.
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