Government Furious

[jeronimosuykens]

The capitalization of bitcoin transactions reaches billions of dollars but governments of any country can not get revenues or income from these transactions and this makes governments in many countries complain of the existence of bitcoin because it is considered a threat to the economy of a country. Should tax apply to users who do bitcoin transactions? When are users comfortable with this situation? what is the right regulation to address these issues to help each country improve its economy?

That’s because they are not supposed to be getting tax from it. The government has nothing to do with Bitcoin and its none of their business. I don’t know if your have read about Bitcoin to know about it. Bitcoin gives you freedom from government and bank when it comes to saving your money.

In Bitcoin you’re completely in charge of your money and have yourself to blame if anything happens to your money. But in banks, if your gets lost you can blame the bank. So when the government are not the ones safeguarding your money, they have no right to charge you tax.

I think so. The government has nothing to do with the electronic money market.
Bitcoin gives you freedom from government and banks when saving your money.
But in the bank, if you lose you can blame the bank.
So, when the government is not protecting your money, they do not have the right to tax you.
So really consider before investing.

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[katrimans]

The capitalization of bitcoin transactions reaches billions of dollars but governments of any country can not get revenues or income from these transactions and this makes governments in many countries complain of the existence of bitcoin because it is considered a threat to the economy of a country. Should tax apply to users who do bitcoin transactions? When are users comfortable with this situation? what is the right regulation to address these issues to help each country improve its economy?

Bitcoin is a hidden transaction without taxes and let me ask ,How they can trace the people to convince to pay their taxes.I dont know how.I think this is comfortable to use because you have no hassle in paying bills or sending money to some people.It is created to be use by the people who has a lot of works or busy and no have time to waste their precious time also it is used to earn more without taxes or it is used alternative in your work to earn for the future.

When it comes to that of the government and the bitcoin, there are certain countries whose governments are taking some serious steps to promote the bitcoin and rest of the crypto currencies and that they are also planning of declaring these coins as legal currencies. However, the countries who are not in favour of this thing are only furious because of the decentralized nature of the crypto coins.

[greengirl]

To improve the economy of a country, the government must take the right steps, especially catching up with the times. A country that does not have technology updates, will not develop. Talking about Bitcoin, the authorities are eager to manage Bitcoin, that can not be denied.

[ClaraFowler44]

I think it is not fair to impose a tax on something that is not real. Taxation is the stifling of the creation, monitoring, and reporting of all transactions that may prevent investors from making further investments in ICOs or upcoming currencies. This could limit the amount of funding available for cryptocurrencies and blockchain technology, as well as strangling an industry that seems to be the future backbone of the world economy.

[zxcv cool]

The government will also choose to resist or pay attention to the development of the blockchain. After all, the blockchain technology is the development direction.