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Author Topic: [2017-12-03] The White House is currently monitoring Bitcoin  (Read 2383 times)
aalfadhala
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December 03, 2017, 04:48:58 PM
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The White House is currently monitoring Bitcoin, press secretary Sarah Huckabee mentioned in a press conference last Thursday.

“I know this is something that is being monitored by our team here,” she said, responding to a reporter’s question about whether President Donald Trump believes bitcoin should receive increased regulatory attention from the government.

She also added“In terms of specific briefings and announcements on it, I don’t have anything that I can share with you right now,”

“Tom Bossert, with the Homeland Security team, an advisor to the president, has brought this up in a meeting earlier this week,” she said.”I know this is something he is keeping an eye on.”

Source and Video: https://coinblip.com/blog/white-house-monitoring-bitcoin/
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coolcountry
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December 03, 2017, 04:57:52 PM
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This should be no surprise. The USA is one of the countries where bitcoin is very widespread so the government doesn't want to lose tax money, and is looking at ways to monetize it.

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December 03, 2017, 06:19:48 PM
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This should be no surprise. The USA is one of the countries where bitcoin is very widespread so the government doesn't want to lose tax money, and is looking at ways to monetize it.

No country has to lose out on tax if they charge people reasonable to fair rates. If you have to pay like 10-15% in tax on a yearly basis, of course people will prefer to not declare any of their holdings and profits. It's my money, which I have already paid tax over throughout the years, and still they want more. It's like legal theft from the government's side, and it's ridiculous. If they just charged people like 1-2% on a yearly basis, people wouldn't really feel the need to hide their holdings, especially if you take Bitcoin's growth into consideration. Next step is forcing exchanges to snitch on their customers to obtain personal information.

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December 03, 2017, 06:29:53 PM
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This should be no surprise. The USA is one of the countries where bitcoin is very widespread so the government doesn't want to lose tax money, and is looking at ways to monetize it.

No country has to lose out on tax if they charge people reasonable to fair rates. If you have to pay like 10-15% in tax on a yearly basis, of course people will prefer to not declare any of their holdings and profits. It's my money, which I have already paid tax over throughout the years, and still they want more. It's like legal theft from the government's side, and it's ridiculous. If they just charged people like 1-2% on a yearly basis, people wouldn't really feel the need to hide their holdings, especially if you take Bitcoin's growth into consideration. Next step is forcing exchanges to snitch on their customers to obtain personal information.

10-15%? That is a dream for most people in the world. Countries charge up to 50% tax on your income, in some of the Scandinavian countries. Payment of taxes also depends on the culture. If the government provides for people, then people generally don't mind paying taxes.
With respect to Bitcoin, I don't think the governments' biggest fear is tax avoidance. They are at risk of losing power over monetary policy.


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Samarkand
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December 03, 2017, 06:33:14 PM
 #5

...They are at risk of losing power over monetary policy.

Yes, they are mainly worried about this aspect of the advent of cryptocurrencies.

Most countries in the world are mired in debt and only remain in power due to the ability
to borrow money. This deficit spending is enabled by the printing presses of central banks
all over the world and artificially low interest rates.

Sound money like Bitcoin can´t be easily inflated, which would make deficit spending impossible.


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December 03, 2017, 06:38:36 PM
 #6

This news sound like they began to monitoring bitcoin only now or few time ago. But I believe the USA putted their attention on bitcoin long time ago, maybe even from the most moment of it's creation. Many of American rich people invested big founds in bitcoin and just waiting for decision of the government about bitcoin's legalization.

   
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December 04, 2017, 11:58:38 AM
 #7

This news sound like they began to monitoring bitcoin only now or few time ago. But I believe the USA putted their attention on bitcoin long time ago, maybe even from the most moment of it's creation. Many of American rich people invested big founds in bitcoin and just waiting for decision of the government about bitcoin's legalization.
I completely agree. I think that they first and foremost thought that it was a bubble, he would destroy himself. Now they see that this is not so, but they continue to call bitcoin a bubble. Perhaps the fact that Bitcoin too quickly became expensive and popular did not give them the opportunity to kill him at the beginning

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