Government Furious

[Wolfwar]

until now  government won't to penetrate the system o crypto if they going to legalize the btc they do it to gain something 
but its better to collect tax in a bitcoi earner than to provoke the government  and make them realized that btc is no benefits in the economic if they do they just banned it in a whole country making the btc price fall

we are lucky cause here in the philippines bitcoin and other cryptocurrencies are legal our government file a case where all of cryptocurrency are welcome in our country cause they know that it is a good opportunity for their citizens. theres a lot of benefits in a single country when they accept bitcoin.cause bitcoin can lift the whole economy. imagine bitcoin will circulating all over those country we should think about it we can raise bitcoin all over are self so government will legal it.

Not every government will agree to date on the legalization of the country's crypto currency. There have been repeated statements of officials in the mass media that the crypto-currency may be a danger to national interests. But I can not understand what this danger is.

[baundul]

The government can play an important role here. If the government can complete the transaction, the tax can be set there. Taxation is done on the bank transactions. But the government does not see it, it's illegal. Or the level is putting extra tax.

[mindrust]

until now  government won't to penetrate the system o crypto if they going to legalize the btc they do it to gain something 
but its better to collect tax in a bitcoi earner than to provoke the government  and make them realized that btc is no benefits in the economic if they do they just banned it in a whole country making the btc price fall

we are lucky cause here in the philippines bitcoin and other cryptocurrencies are legal our government file a case where all of cryptocurrency are welcome in our country cause they know that it is a good opportunity for their citizens. theres a lot of benefits in a single country when they accept bitcoin.cause bitcoin can lift the whole economy. imagine bitcoin will circulating all over those country we should think about it we can raise bitcoin all over are self so government will legal it.

Not every government will agree to date on the legalization of the country's crypto currency. There have been repeated statements of officials in the mass media that the crypto-currency may be a danger to national interests. But I can not understand what this danger is.

It is the danger of the absolute truth. With blockchain tech, it is not possible to lie. Since USA abandoned gold reserve system and moved to debt/FIAT monetary system it is possible to lie. Luckily, their lies only useful for delaying the inevitable.

Corruption spread over the countries like a disease because of this monetary system. The countries which already has nothing to lose especially gonna favor this new tech.

Those who have many to lose however, especially those who have the power of printing reserve currencies, they will either try to control it and if not become successful, they'll try to destroy it. We'll see.

[wuvdoll]

As we see in practice, not all countries negatively regard bitcoin. Some countries still took it as a means of payment and actively use blockchain technology. I believe that with the correct and reasonable use of bitcoin and its technology, you can achieve great success in the development of the country.

Imposing tax collections will be restricted to the use of exchange, so let's face it, tax collection is something that cannot be easily achieved by the government across board unless this is the case.

However, it is a simple fact that a higher percentage of users are still going to be making use of exchanges anyway, so I do not see how this should be a problem in tax collection. Now, regulation is imposing KYC to be done in most of the exchanges, which I believe would make it easy to track down every user with respect to taxes.

[JRDuran]

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 becomes or stands as the threat of the government around the globe is because they don't allow it to take part in their economic system. If only they will allow it they will use it as one of the asset concerning economic growth.

[realcrypto]

The citizen give reference to the government because of the services they render to the society, securing life and property. If government still want things to be difficult for the cryptocurrency fans we will start running our own decentralize society. We will still spend the money for goods and services let the taxation be done at that point not while exchanging.

[Stephen1989]

capitalization between the countries it will be like a grain of sand. Big private companies are bringing much more revenue than a fully regulated crypto economy would. At least at this stage. Also, governments are getting their share from BTC to fiat transactions. Do you think it's not enough?

[ArteMixer]

It is extremely unhealthy for a county to accept crypto as it actively drains money from the ecosystem of the state. So it is much more efficient to ban it.  

[bitkanu]

It is extremely unhealthy for a county to accept crypto as it actively drains money from the ecosystem of the state. So it is much more efficient to ban it.  

Then why do you even here? LOL, accepting cryptocurrency is not that dangerous for country with good economy or in other words prosperous country like those 3rd world countries
that have relatively weak economic, people need to know this including you so you don't just uttering nonsense word that's definitely misleading.

[trako]

a fair tax system will please both sides. This is a difficult job. there is a need for comprehensive tax reform. countries should make supportive arrangements for bitcoin.
Money enters the country is the work of all governments.
if a number of online facilities are provided, governments...

[naidray]

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?

Indeed anonymity of Bitcoin transactions give the government headaches, but it does not mean they can't control the flow of cryptocurrency in their country. I think all they have to do is support cryptocurrency and make a regulated wallets which allows users to convert and transactions through it and have it taxed. In that way they are helping their constitutes and improve their economy as well.

That can still play out easily for those making use of exchanges since it is basically capital gain tax and I guess all the information during the period of your purchase, holding and withdrawal is all opened to the exchanges which can be made use of since it is a centralized exchange and the account as well as wallet is attached to such an individual.

Nevertheless, in the category of those who may not be making use of exchanges, that is where their problem lies, but who really cares how furious they want to get anyway ?

[websoftwareengineer]

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?

Cryptocurrency already has transaction fees from the exchangers or wallets that they are using so how come they are telling that bitcoins does not have tax because we are paying a decent amount of transaction fee's each time we are passing our coins.

[SaShiRaJaVu]

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?

If there is a good regulation we could stop fraudulent activities in the entire crypto market, we wont be seeing anymore scam ICO and ponzi schemes that are intended to fraud the investor, tax is applied when you convert your coin to the local fiat currency and there is nothing the government can do to disrupt the new way.

[Minus7point5]

Let he governments be furious until they get what they want- part of the profits.
THis is usually how it works in this world, they take what they want when they want to.

[Semaj123]

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?

Cryptocurrency already has transaction fees from the exchangers or wallets that they are using so how come they are telling that bitcoins does not have tax because we are paying a decent amount of transaction fee's each time we are passing our coins.

Even though that they claim they get nothing from cryptos, to think the government can still be benefited from crypto users because we converted crypto to fiat to buy goods and services. What the government wants is to get more money from the crypto users but sadly they can't make it.

[bearexin]

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?

The government can not interfere with bitcoin transactions, because bitcoins are hard to trace. Perhaps because of this comfortable situation bitcoin users continue to benefit without any hindrance. Taxes are one way governments gain profit for bitcoin users

Yeah you are absolutely right. The government official and ministers use taxes for their benefits and not for people of the country. I agree with you that we should not pay tax especially on cryptocurrency. It must remain decentralized so that the governments have nothing to do with crypto. I don’t want to pay any kind of tax because the government doesn’t use it for us.

[noah tall]

The main reason behind government furious against bitcoin like cryptocurrency is their decentralised nature. Because of this no one can control this and no government never want something in their country which they cannot control. Bitcoin also affect their economy growth by affects the tax. Due to its digital nature Bitcoin user doesn't pay tax. Bitcoin also affect an country currency value in the international market and this could happen to be a reason. 

Yeah it is right and if I talk about myself I want that this system should not change forever. I don’t want bitcoin or any Altcoin to be decentralized because government will impose income and sales taxes on bitcoin. Now they can only take tax as you say on transferring into local currency. That is no problem and we cannot stop this but I want bitcoin tax free.

[perfryan]

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?

Take payments in bitcoin you're creating  a cash economy,it can't be monitored by the government
A big part of of the early bitcoin adopters were people deeply worried about government.the early bitcoin adopters
Were anarchist and libertarians that feared in Orwellian world.

[doomloop]

until now  government won't to penetrate the system o crypto if they going to legalize the btc they do it to gain something 
but its better to collect tax in a bitcoi earner than to provoke the government  and make them realized that btc is no benefits in the economic if they do they just banned it in a whole country making the btc price fall

we are lucky cause here in the philippines bitcoin and other cryptocurrencies are legal our government file a case where all of cryptocurrency are welcome in our country cause they know that it is a good opportunity for their citizens. theres a lot of benefits in a single country when they accept bitcoin.cause bitcoin can lift the whole economy. imagine bitcoin will circulating all over those country we should think about it we can raise bitcoin all over are self so government will legal it.

Governments in action on the legality of Bitcoin look into the situations in country. We have seen that the decisions of legality of Bitcoin depends upon the economy of a country because developed countries adopt Bitcoin immediately because they accepted Bitcoin for the better future of people and the country. Many governments do not allow Bitcoin because they want the tax system but do not know how benefit the Bitcoin is and this is why the countries that adopted Bitcoin are developing more.

[jaysabi]

It's quite different because in case of you downloading and especially sharing pirate content, you are actually doing something wrong. While I agree that it's impossible to punish the majority of the people sharing pirate content, it does happen occasionally. It's not for nothing that a lot people now are using either VPN's or dedicated servers to distract attention away from their own download location. It's basically a case of better safe than sorry. On top of that, if you download stuff from your home computer, your IP is publicly known, and thus you can be held responsible for your actions, while if you transact with Bitcoin, only the IP of the first node is basically your taint. In most lightweight clients you can choose the node you connect to or you can even manually connect to a node of your choice. Authorities can't do anything about it.

Do not get me wrong I'm not trying to justify piracy in any way or form, it's just an example to show how difficult it is to deal with a problem at a decentralized level, governments are very good at dealing with centralized opponents of any kind, but they are terrible at dealing with movements without a visible head and that do not depend on it to organize itself, which is why file sharing is still very popular even in this day and age where governments have such tremendous powers of spying over the population, which means that they have almost no hope of stopping bitcoin no matter what they do.

You don't have to control Bitcoin itself, you only have to control the fiat gateways, which is already in the realm of what the government does. Fiat gateways are exchanges that will convert crypto for fiat or vice versa. Because these exchanges operate as quasi-financial institutions, which are already very well-regulated, it's not difficult at all to expand current legal requirements to crypto exchanges. All (or at least most) of the major exchanges are already compliant with applicable rules and regulations or seeking to be, and what's more is that users will increasingly demand this so that there is more confidence that any wrongdoing by the exchanges will be accountable. There have been far too many scams and collapses that have happened without consequence to the bad actors, and everyone wants the confidence that the exchanges aren't run by idiots or charlatans. If the industry was capable of policing itself, it would have by now.

There's just one point which you don't take into account but which makes things a little more complicated for "the government". The point is that there is no single government (conspiracy theories aside), and it is not just about stating there are over 200 of them presently. Yes, only a few matter, live up and amount to being really independent, but even one is more than enough. The contradictions between these governments are so irreconcilable that all of them will be happy to use Bitcoin or whatever if it suits their needs in opposing the rest of the pack. This includes, but is definitely not limited to, fiat gateways and exchanges in question.

I don't know if you are familiar with the events surrounding taking down btc-e by the FBI, but the end result is that the latter failed pathetically at reaching their ends. And it is likely the most powerful law enforcement agency of the most powerful and stubborn government in the world hellbent on punishing everyone to dare them which couldn't take down just one exchange. So it doesn't look like it is actually "in the realm of what the government does" when it comes to real world.

In short, there is light at the end of the tunnel.

My point didn't come across, so let me rephrase. The government already controls traditional fiat gateways, which are points at which you exchange fiat for electronic cash. Banks, currency exchanges, money transfer businesses, brokerages, stock exchanges: all regulated by the government. You cannot move large amounts of money through any traditional fiat gateway anonymously because they are so tightly regulated. These same choke points exist for crypto. You don't have to control crypto, you just have to pass regulations outlawing all the traditional gateways from dealing in it, and because the people running the businesses can't do so anonymously, violations of the law will be easy to prosecute. That won't kill crypto completely, but it will greatly reduce its use and value by driving it deep underground and stall adoption for normal people who aren't interested in becoming criminals by using it and deal with the hassle of trying to avoid detection in converting fiat back and forth. There would essentially be no incentive to any longer except for criminals at that point.