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Author Topic: Government on legalising bitcoins  (Read 1307 times)
BTCeminjas
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April 12, 2018, 02:59:52 PM
 #101

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.

This is what everyone one is imposing the governments to do.  They do know the benefits and the growth in adapting bitcoin and other crypto currencies. The reason for not taking a step further is to sustain local fiat's value up in the market as this is what the primary element for a government. This is why the banks are against local currencies. This is the reason banks control government not to adapt crypto currencies.
Because through legalization they think that bitcoin can manipulate them and have tax, they want to be legalized all profit for their people from cryptocurrencies into fiat in order to controlled and to have a taxed on it. Some countries now are starting controlling bitcoin to their place, but most of them are failed in implementing the law of bitcoin because we all know that bitcoin is decentralized and can control this.
That's why some are banning and some disable exchange site and banks account that related to bitcoin.
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April 12, 2018, 06:01:40 PM
 #102

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.

This is what everyone one is imposing the governments to do.  They do know the benefits and the growth in adapting bitcoin and other crypto currencies. The reason for not taking a step further is to sustain local fiat's value up in the market as this is what the primary element for a government. This is why the banks are against local currencies. This is the reason banks control government not to adapt crypto currencies.
Because through legalization they think that bitcoin can manipulate them and have tax, they want to be legalized all profit for their people from cryptocurrencies into fiat in order to controlled and to have a taxed on it. Some countries now are starting controlling bitcoin to their place, but most of them are failed in implementing the law of bitcoin because we all know that bitcoin is decentralized and can control this.
That's why some are banning and some disable exchange site and banks account that related to bitcoin.
I do not see examples of the government to fail in the regulation of the cryptocurrency market. At the moment, the bitcoin community is slowly being defeated. Why? Because all exchanges are already required to provide documents in order to open the account. This contradicts the idea of bitcoin. And this, in my opinion, is a significant surrender of our interests.
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April 13, 2018, 01:40:17 PM
 #103

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.

This is what everyone one is imposing the governments to do.  They do know the benefits and the growth in adapting bitcoin and other crypto currencies. The reason for not taking a step further is to sustain local fiat's value up in the market as this is what the primary element for a government. This is why the banks are against local currencies. This is the reason banks control government not to adapt crypto currencies.
Because through legalization they think that bitcoin can manipulate them and have tax, they want to be legalized all profit for their people from cryptocurrencies into fiat in order to controlled and to have a taxed on it. Some countries now are starting controlling bitcoin to their place, but most of them are failed in implementing the law of bitcoin because we all know that bitcoin is decentralized and can control this.
That's why some are banning and some disable exchange site and banks account that related to bitcoin.
I do not see examples of the government to fail in the regulation of the cryptocurrency market. At the moment, the bitcoin community is slowly being defeated. Why? Because all exchanges are already required to provide documents in order to open the account. This contradicts the idea of bitcoin. And this, in my opinion, is a significant surrender of our interests.
In any means the government trying to imposed  any regulatory  measures to crypto currency because they want controls or eventually imposed taxes too. But  still  I think it would take some pros and cons debate before  they can have  a law that can regulate Bitcoin because bitcoin is brilliantly design to elude government control.

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April 13, 2018, 02:02:08 PM
 #104

My government decide to forbid bitcoin because they want to protect my people from corruptor and drug dealer , our main enemy until now.
It's become their advantage because bitcoin transaction more difficult to track down compare fiat.

For other reason, bitcoin cause inflation because our currency are weak against dollar and bitcoin are dollar based investment !

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April 13, 2018, 03:31:01 PM
 #105

My government decide to forbid bitcoin because they want to protect my people from corruptor and drug dealer , our main enemy until now.
It's become their advantage because bitcoin transaction more difficult to track down compare fiat.

For other reason, bitcoin cause inflation because our currency are weak against dollar and bitcoin are dollar based investment !
It is sad to know that the mind set of some government leaders is not inclined to improvement because bitcoin is a great connection to the world if you're people mostly use bitcoins and they  earn out  of it isn't bad for the economy instead it boasts your economy.

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April 14, 2018, 09:24:03 AM
 #106

My government decide to forbid bitcoin because they want to protect my people from corruptor and drug dealer , our main enemy until now.
It's become their advantage because bitcoin transaction more difficult to track down compare fiat.

For other reason, bitcoin cause inflation because our currency are weak against dollar and bitcoin are dollar based investment !
It is sad to know that the mind set of some government leaders is not inclined to improvement because bitcoin is a great connection to the world if you're people mostly use bitcoins and they  earn out  of it isn't bad for the economy instead it boasts your economy.
The problem is, you're thinking about yourself. Of course you benefit from using bitcoin as we all do. But the government thinks in other categories. They cannot control the turnover of cryptocurrencies and therefore they may have problems with the economy of the whole country. This is a great responsibility and no one will make controversial decisions.
hacekd
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April 15, 2018, 11:20:37 AM
 #107

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.
wait a while, why there are still some countries that are banning bitcoin in because bitcoin can also damage their own currency, and bitcoin will increase the crime rate to the internet in that country. maybe that's a consideration

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April 16, 2018, 09:28:02 PM
 #108

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.
About 30% this you of course exaggerate. I think the most optimal interest rate on taxes will be 13%.
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April 19, 2018, 11:12:31 AM
 #109

Legalizing bitcoins in our country is a good idea.Why? So that bitcoin won't vanish one day and remains forever as medium of change to be used in our society. And we can continue using it as our investment for our future and could be other way of saving money.I believe when it is legalize it become taxable and taxes are used by the government to create projects which are vital for the good of our fellowmen.
ruthbabe
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April 20, 2018, 07:51:59 AM
Last edit: April 20, 2018, 11:12:16 AM by ruthbabe
 #110

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.

Actually, there are lots of countries where Bitcoin is legal, here are some; Australia, Belgium, Brazil, Canada, Colombia, Croatia, Czech Republic, Cyprus, Denmark, France, Germany, Hong Kong, Israel, Italy, Japan, Ukraine, New Zealand, Norway, Poland, Singapore, Slovenia, South Korea, Spain, Switzerland, Sweden, Turkey, United Kingdom, United States etc. Currently, Bitcoin is legal in all the 52 states in the US, although each state has their own policies. However, I don't know if all those states, as well as the government of those countries, are imposing taxes on Bitcoin... 30% or more than that I have no idea.



 

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April 20, 2018, 09:38:42 AM
 #111

Basically, it can indeed advance a country in terms of economic development I guess, if indeed it's acceptable which can be able to deepen it from all that's related to cryptocurrency. It depends on each government's response to all things related to bitcoin and how to act on it to make it a way of progress for a country without risk. In essence., this is how about to direct it from the governments of each country I guess.

siti25
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April 20, 2018, 09:44:54 AM
 #112

The use of bitcoin in some countries has reached a very high percentage. In Japan the use of digital currency has a transaction amount of 50%. This percentage rate is very high when compared with the percentage in the United States which only reached 25%. Due to very high interest, the Japanese government officially legalized bitcoin as a legal currency in digital transactions.


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April 20, 2018, 04:13:40 PM
 #113

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

Venezuela doesn't seem to be the best example. They released their own crypto and told that managed to collect huge amount of investments...without any proofs
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April 20, 2018, 04:29:06 PM
 #114

Applying tax will make another revenue / income for my government. It's a good news , isn't it ?
But my government is not interest !

Why ?
Because bitcoin still consider as criminal money because it can be use for money laundry or drug transaction which my goverment are against with them !
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April 20, 2018, 06:25:28 PM
 #115

Yes, I agree with that, the government must legalized bitcoin. because, Bitcoin can boost the economic growth of a country, Bitcoin can also encourage people's spending power, and I think, if bitcoin in legalkan will be an increase in assets that can encourage consumption patterns of society.
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April 22, 2018, 07:43:52 AM
 #116

Some countries have already legalized bitcoin after imposing some regulations to monitor any movement or transfer of the cryptocurrency. Here in my country, the central bank is already drafting a regulation for the cryptocurrency exchanges and this will be implemented next year once the drafting is completed. Taxation might be the next move of the government after the regulation is implemented.
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April 22, 2018, 10:58:51 AM
 #117

Some countries have already legalized bitcoin after imposing some regulations to monitor any movement or transfer of the cryptocurrency. Here in my country, the central bank is already drafting a regulation for the cryptocurrency exchanges and this will be implemented next year once the drafting is completed. Taxation might be the next move of the government after the regulation is implemented.
I don't understand what good? I don't share your joy. Any rules contradict the idea of creating bitcoin. If this is really done in your country then I am sure that the popularity of bitcoins in your country will decrease. Bitcoin is a free economy and supporting the government's plans to legalize bitcoins is a betrayal.
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April 27, 2018, 05:57:40 PM
Last edit: April 30, 2018, 04:19:31 AM by MCVXYZ
 #118

Some countries have already legalized bitcoin after imposing some regulations to monitor any movement or transfer of the cryptocurrency. Here in my country, the central bank is already drafting a regulation for the cryptocurrency exchanges and this will be implemented next year once the drafting is completed. Taxation might be the next move of the government after the regulation is implemented.
I don't understand what good? I don't share your joy. Any rules contradict the idea of creating bitcoin. If this is really done in your country then I am sure that the popularity of bitcoins in your country will decrease. Bitcoin is a free economy and supporting the government's plans to legalize bitcoins is a betrayal.

But there may be the rules which don't affect decentralization nature of it,Therefore This means that the central authority will have no power to dictate rules for owners of bitcoins,I personally think that it will be acceptable for everyone,but in another situation of course if it is negative for bitcoin holder it will be illegal to create such regulations..At the same time I can't understand why there is the need for such a thing (I'm talking about regulations related to people's property right) when the block chain already keeps information about everything.Anyway I hope the banks and other financial institutions will see and consider cryptocurrencies as an alternative for the financial transactions in the future.
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April 28, 2018, 03:10:34 PM
 #119

The government believes and believes that proper regulation and supervision can make Bitcoin's potential a positive impact. They have also implemented some rules to prevent the currency from being used for unlawful activities.
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April 28, 2018, 05:42:28 PM
 #120

The government believes and believes that proper regulation and supervision can make Bitcoin's potential a positive impact.
That's what they want you to believe, yes, and it worked pretty well on you from the looks. Reality however shows that they are just trying to build a cage around the entire centralized market to prevent you and all your fellow sheeples from ejoying too much freedom. Their only objective is making you pay your due taxes and keeping your capital flow in check and monitored.

They have also implemented some rules to prevent the currency from being used for unlawful activities.
What exactly are these rules? No one can prevent me or anyone else from conducting *illegal* peer to peer transactions. Technically, it's not even possible for governments to do that with centralized platforms. The only difference in this case is that your personal information is attached to specific transactions, but still, it doesn't prevent anyone from conducting *illegal* transactions. The only thing that can happen is that you will be punished afterwards due to them having your personal information, but that's it.
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