Government Furious

[nur rochid]

I think bitcoin is not threat to the world economy, because its existence is only 1%. if for taxes may be because government can not control btc so there are still many consideration to legalize it

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[Just John]

You're right. Governments have not found a way to put taxes on  bitcoin which is why they are doing all they can to stop the rise of bitcoin but they cannot. Bitcoin will bounce back stronger and even better than ever.

[Aikidoka]

Bitcoin was created to oppose the economy systems especially banks. If the government interferes with bitcoin, then the later will lose its purpose. However, since everyone (Social media, banks, the governments) is fighting against bitcoin which led to the drop of its price, I believe that it is best to impose taxes on it which is better than banning it completely. But the taxes should not be high to begin with.

[Dragon5]

China is the furiest among them, claiming cryptocurrencies kill yuan and threat Chinese economy. So they are going to strengthen the regulations and ban everything connected to cryptocurrencies

[hahahafr]

Well, they did not kill yuan. And that won't happen.

China is one of the most powerful countries that has ever existed, they need to create regulations over everything (and their kind of government is very succesfull)

So yes, if it happened, then it means that it was a good decision after all..

China is the furiest among them, claiming cryptocurrencies kill yuan and threat Chinese economy. So they are going to strengthen the regulations and ban everything connected to cryptocurrencies

[lesinset]

In our country, workers who earn below 20,000 are not charged with tax and those who earn more than 20,000 are charged with tax. If this will be applied to us bitcoin users here in our country, I'd say it is fare enough if it will be the condition of our government to us so that bitcoin won't be banned in our country. 

[pathapoddo]

Government furious will show as income tax. Government already ban it. If they don't ban it, they will take income tax. But how they will come to know about Bitcoin earners??

[Baofeng]

if the income from bitcoin or altcoin is taxed, will the government legalize bitcoin? if true, I agree. currently with the existence of blockchain technology should the government can take advantage of it for the future of the economy of the country so do not feel harmed by the existence of bitcoin. so far the unemployment rate has fallen because many people are using bitcoin to make money. because so far the government can not provide jobs to reduce unemployment rates.

You can to understand where the government is coming from, as far as crypto being tax, yes maybe, but legalizing it? I don't think that government wants so and we don't want it as well so the feeling is mutual. Government is afraid of crypto's being so disruptive that it can make or break a nations economic stability.

And as far as people using bitcoin to make money, its a small percentage of the population and I don't think that it can significant effects to the unemployment rates.

[ronics]

         the bitcoin capital transacts for reaching a bitcoin of dollars .it is the government of any country that can not get revenues or income from a transaction and it does work in the in the government of many countries complaining .the existence of a bitcoin because it is considered treat for the economy of a country .should tax bids for users .so makes a bitcoin transaction and what is the proper regulations for an address in these issues as well as help the county to which it accuse it of the economy.

[Hell-raiser]

China is the furiest among them, claiming cryptocurrencies kill yuan and threat Chinese economy. So they are going to strengthen the regulations and ban everything connected to cryptocurrencies

I suspect this has everything to do with the mentality of the Chinese population. I mean they are eager to look into everything new and adopt it quickly. Look what happened in Japan and then multiply that by a factor of 10. Western civilizations are more conservative in this respect. People there trust their governments more on average, and they won't jump into cryptocurrencies head over heels. Therefore, the Chinese government rightfully fears this universal craze over cryptocurrencies. It is not like Bitcoin threatens the local economy directly, it is more via people losing a lot of money in various scams that will be the major cause of headaches and problems for the government there.

[yvesp110]

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?

Governments find it hard to input tax on bitcoin because its beyond their control. Bitcoin resides on the internet world and its really hard for the government to detect those who are involved in bitcoin. The only way they can do is to ban bitcoin because its the easiest way for them.

And this is what they are doing. From a long time, since the development of bitcoins, they are continually banning bitcoins. Right now, just see, only few countries among 256 countries where bitcoins are being legalized and using under a law. Else, every country’s government have banned bitcoins. They don’t allow people to make transaction because by doing so, tax can’t be paid.

[yanxuanyunshan4]

The supply of bitcoins is predictable. It has the core characteristics of money: durability, fungibility and severability. It creates a monetary system that is independent of credit and identity and central Banks and governments. It's a new system in the digital age.

Bitcoin enthusiasts can be found in every city. They all agree that the value of the bitcoin transaction will continue to rise, because the supply of bitcoins is strictly limited and bitcoin is far superior to the legal tender of the government.

[EnricoGomez]

Bitcoin is created polar to the concepts of banking to which the government is somehow clinged at and traditionalized upon because it is a vital part on the movement of the economy.
It would be very difficult for the government to track who use bitcoin to earn for tax collection. But if people do not want to bitcoin to be banned on their countries, they shpuld take it upon their selves to pay taxes as it is a factor to why countries are furious.

[Dimid]

In the long term, the bitcoin tax is disastrous for the crypto currency, as it was initially conceived as an anonymous way to transfer money without intermediaries. Otherwise, anonymity is lost, and an intermediary appears in the person of the state.

[sindikat]

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?

I think the smartest thing to do is not listen to what the government says. Tell me please, when you tell the government you don't like them listening to you? Why should we be interested in their problems? We must build our economy and abandon the use of Fiat as much as possible. This will make us richer and we will be free from manipulation in the government.

[okala]

The governments should come out clearly that tax is their problems and their should not lebel bitcoin and other coins as a scam's  system. We no their are not happy that we have a system that they cannot control and this is a beauty of it but government are not happy about this.

[infested]

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 transactions are already being taxed. We have capital tax gains on profits when bitcoin rises in value.

Also when you buy something from a business using fiat->bitcoin->fiat (or even directly from BTC to fiat) the business has to declare that sale and pay taxes.

Illegal non taxed transactions like the ones you are thinking from BTC->BTC can also happen with fiat so there is no new threat to governments.

[rizkyhiw]

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?

should the government not object to the bitcoin among them, if they are so smart to set up a country they should legalize bitcoin. believe me, bitcoin will be able to help the economy more advanced, there are some ways I think like the government is contributing to investing in bitcoin, trading, etc.
but I do not think they will see the good side that is on bitcoin, with all the current news crypto especially bitcoin in view as a tool to do evil. you can imagine if one country contributes to bitcoin investing, to what bitcoin will rise?
even the president of my country once said, bitcoin and other coins are the technology of the future and us as technology users should be able to keep up.

[dekafee79]

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?

I think,taxes should not apply to crypto transactions. because  transactions in crypto is untraceable and anonymous. also it's digital. it is impossible to take it.

[sinkfish]

i can understand their government sentiment towards crypto. they take heavy blow before they could do anything. now they recognise the power and potential of crypto, slow but surely they planning something so to make sure they can take their pieces or else they will loose all they autonomy they got all till now.