Government on legalising bitcoins

[anna12345]

I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.

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[shi07]

I also heard of that and saw in an article that some countries wants to legalize bitcoin by creating their own cryptocurrency that will governed by the government therefore taxes maybe imposed to all transactions. I think the root cause of this maybe it was alarming to the banks that in the future all their depositor will only save and transact through bitcoin because currently in bitcoin there are no central or middleman to all transactions so that low fees and penalties are more favorable than the banks.

[St4yInTh3D4rk]

I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.

Definitely they will do not for the sake of country's development but for the development of their own wealth because many countries politicians are mainly involved in the corruption so they will make money out of everything that's why they are trying to implement taxes on bitcoins too.

But if they use that taxes in the right way then it will be great source to develop that country but 30% is very high so they have to implement the taxes at the affordable rate for both citizen and the country.

[Dreamchaser21]

This is good if the intention are for the sake of their people but we all know how government rule one country. I think its better to have a detailed law about this that can surely protect investors and the businesses. Legalizing is indeed what we need instead of banning cryptocurrency but hopefully we can see more transparent government regarding on this matter.

[biboy]

Maybe you are late of the page well actually some countries are already doing legal matters about bitcoin regarding legalizing, regulation and the tax they will imposed on it, some have already have their own regulations and some are still in the process at least we are all having a positive feedback about it although not all country were open for this.

[StarLord96]

Well, in fact, there are several countries that are doing the bitcoin legalization and are also taking into account the regularization of taxes, an example would be Venezuela, which is already taking the cryptocurrency as a form of monetization and the entrepreneurs of the country named should give a sum of your earnings for that currency

[Oceat]

I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.

Definitely they will do not for the sake of country's development but for the development of their own wealth because many countries politicians are mainly involved in the corruption so they will make money out of everything that's why they are trying to implement taxes on bitcoins too.

But if they use that taxes in the right way then it will be great source to develop that country but 30% is very high so they have to implement the taxes at the affordable rate for both citizen and the country.

Legalizing to put a tax on Bitcoin? They can't even control it. It is impossible to put a tax to any persons that's using Bitcoin, but they can implement such at any exchanges to put a tax to any person that is trying to convert their crypto currency to fiat currency. Not everyone in the country could pay the 30% tax, it is a bit high 'cause that exchanges take 30% to your crypto. I would rather find a low rate exchanges than to give 30% of my precious crypto to someone.

[cynical]

I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.

I think most serious bitcoin users would not like to see any sort of governmental involvement in bitcoin or crypto.
Bitcoin was invented as a means to eliminate the need for any other parties to be involved other than a BUYER and a SELLER.
Ok bitcoin has become more than a means of paying for goods and services between two people,
it is now an investment commodity like any other stocks and bonds etc. but regulation is not necessarily a good thing.

[Hannahanto]

I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.

Exactly. Their economic growth would seriously be booming if they do legalise. The turn over would be more than they get from their local fiats. More over, their citizens lives would be more enriched and they wont depend on their government. All will be independent in earning and gathering wealth. Government would be at peace not worrying on employment given to its citizens. The country would live poverty free. Hope my government soon gets into crypto currencies platform.

[jossiel]

I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.

The governments are aware that they can come up with great potential of resource with bitcoin.

But you know what makes them worry? The use of bitcoin can be abused by people who are dealt with illegal activities, that's the only thing they know with bitcoin.

They are only aware that its only used for illegal activities but once they understand that bitcoin isn't only for that thing, they will adopt it soon.

Spread of good news is quick, when big countries or state start accepting bitcoin on their jurisdiction, others will simply follow.

[samcrypto]

Cryptocurrency can really help one country to be a better nation, this kind of technology is what we need right now to transact easily everywhere in the world. Legalizing cryptocurrency is a great move of every government, yes they can collect taxes but we as an investor we are confidently invest before we know there's a regulatory body that can protect us from the exchanges and a specific project.

[astrid.uchiha24]

there are countries that prohibit its trading because their national currency might collapse because of bitcoin and some countries prohibits the use of cryptocurrency because of the ICOs, there are a lot of fraudulent and simply scam ICO happened in the past that's why their government stepped in and took an action against that.
I believe there are many reasons for cryptocurrency being band in some countries but there are more than countries that allows its trade because they know that it is good for their economy.

[crzy]

there are countries that prohibit its trading because their national currency might collapse because of bitcoin and some countries prohibits the use of cryptocurrency because of the ICOs, there are a lot of fraudulent and simply scam ICO happened in the past that's why their government stepped in and took an action against that.
I believe there are many reasons for cryptocurrency being band in some countries but there are more than countries that allows its trade because they know that it is good for their economy.

That's right government are trying to protect its citizen from being scammed since we all know how risky this market is. But I believe it is still good to legalized bitcoin Instead of banning it because even big countries support this thing so its time for other countries to study further about this growing technology so we can fully enjoy the benefit of this.

[richardsNY]

I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.

In other words, you encourage the government to continue to rob people of their hard earned money and thus coins. I am in Bitcoin to actually try to distance myself from a system that forces people to pay tax over and over again, where authorities are known to not be shy of using harsh methods to claim what they believe is theirs. If you as government want to stimulate people to pay tax out of free will, at least lower the tax rates to such a degree, that you as government don't have to come after people. Main point of importance is that people try to avoid paying tax for a reason, and that reason is the legal form theft from the side of the government.

[MkGregor]

I believe, crypto will be regulated, and regulated heavily at least in the most developed countries. Those, who are successful in they way, will survive and strive, the weak ones will fall, and not as much, because they are week, but more because they won't be able to sustain paying taxes on crypto.

[Btc_1856]

I believe, crypto will be regulated, and regulated heavily at least in the most developed countries. Those, who are successful in they way, will survive and strive, the weak ones will fall, and not as much, because they are week, but more because they won't be able to sustain paying taxes on crypto.

Yes, it is going to be another good sign of they starts legalizing the Bitcoin because they can easily control the flow of scam ICO and governments can easily protect the people not to invest in scam ICO. Ofcourse there are many good ICO but I am not blaming.

[DeadCoin]

I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.

Adapting bitcoin and other currencies will certainly enrich the economic condition in each country. The citizens of each country would be more independent on his /  her own wealth. The employment becomes much easier and is made ease to the government. My country is working on with RBI team to launch a new coin. This follows by one of the business men launching his own cryupto currency. Lot more goods would take place when crypto currencies are adapted by each government.

[Hannahanto]

Every government has to look at crypto currencies' benefits and adapt them especially bitcoin. Though adaption would indirectly reduce their local currency value, it would enhance the lives of their citizens. The economy would seriously boom up. Everyone would be more satisfied with the money they earn from bitcoin or from crypto currencies. Even from adults to anyone can earn bitcoin.

[orions.belt19]

It’s true that by imposing taxes, the government would be able to generate revenue and possibly use it to develop the country however the bitcoin users may not agreee and would possibly be against the idea of having taxes imposed. Also, the government will have a hard time imposing this because they have no control over crypto or the blockchain unless they choose to regulate exchanges or the income of bitcoin users. The bitcoin users may then either hide their cryptoholdings or choose not to have it converted to fiat at all and just hold their coins.

[galaxing]

I agree with the government to cooperate with bitcoin, I agree the government by imposing more than 30% tax, provided the government must protect its citizens from being scammed, because we all know how risky this market is.
so we will all feel safer again.