Government Furious

[jamesclark]

In near future this question can be regulated i think, because not all government are corrupted, so they can create a method of real way to make transactions with small taxes

[1714759811]

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[Levin23]

why should the state impose a tax on bitcoin transactions? should the state not suffer losses when there is a bitcoin transaction, so, in my opinion there is no state reason to set taxes for bitcoin transcation.

[jameshowlett]

I see the government as greedy. There are several ways to tax citizens. Direct and indirect tax exist in every country. Owners of cryptocurrency may not pay direct tax on their cryptocurrency, but cannot avoid paying indirect tax. Again, it is a small fraction of the population that are into cryptocurrency. So the agitations by government from my standpoint is unwarranted.

Governments are now realizing the need of Bitcoin and that is why recently we have seen the act of Germany and recognized the Bitcoin for the first time ever in their history. This need is feeling to other countries as well because they are watching and observing the economies of other countries which are using Bitcoin. They also need this and soon the whole world will demand for it.

I don't think that imposing taxes on bitcoin users would be an easy job to do since bitcoin transactions is anonymous so how can governments trace the people who are behind these transaction, let alone tax them. But again I agree with you as the number of bitcoin users in my country doesn't take up much of the population and the people here have to pay like hundreds kinds of tax and we have no way to avoid it. Moreover, there are doubts about where these taxes will actually end up because we heard on the grapevine that most of them usually goes into politicians' private use. So I don't support imposing taxes on bitcoin.

[sepeda karat]

now the government will not penetrate the system o crypto if they will legalize btc they do it to get something but it's better to collect taxes in bitcoin seekers than to provoke governments and make them realize that btc is not beneficial in the economy if they just ban it across the country making btc prices fall. In any form or form the user is required to pay taxes on their transactions, except from a few cases and situations. I do not even understand why you are making a problem from the fact that currently most of the transactions are not taxed.

[ekalak manjeng]

the government is very angry, most likely because they feel they get nothing from the results of bitcoin transactions in any case. let them legalize and tax the bitcoin users. of course they also benefit.

[kingsarko]

The government has no reason to be furious because bitcoin is changing lives and it is the way to go now.It is only interested in the taxes it will get without looking at the realities

[Sergio444]

Do the government can not make a regulation to impose the collection of tax to cryptocurrency as billions of dollars passes everday to the users and investors who transact that huge money then it should apply to the users who do bitcoin transaction. This can make possible to the government if they pursuit a laws that addresses the cryptocurrency users to be taxed.

The government can only make a move to earn some amounts as tax from the crypto business if only there is a grant from these governments to accept the potentials of blockchain technology. You can't gain money from something that you despise and wanting its shutdown. I don't agree to the fact that governments want to make taxes out of crypto. That will centralize the blockchain tech.

[huige007]

if the traders who play bitcoin charged taxes it seems not good and not good because players do not always get a profit and should not be bitcoin can be controlled by the government.

The government is just furious at the fact that crypto currency particularly Bitcoin can outshine their existing systems if the technology was introduced into the country. And there are so many people who are demanding the government to lift ban from the technology and allow the masses to make use of the incredible facilities it provides plus the financial freedom it promises.

[zakariajaki]

my opinion is related to government tax regulation, just simple, cypto is a very dramatic technological advancement and highly awaited by all parties of business and economy that is still a traditional, technological sophistication that scare the economy and modernization is in the crypto as the beginning of the idea, I the government just justifies the regulation because modernization is said to have said no government interference because crypto is private and privacy, the country need not worry because crypto does not disturb the country's stability in economic problems, if the country feel disturbed the existence of crypyo I think the state shall facilitate and maintain comfort in a technological manner over its safety, in accordance with its tax payments. so opinions from me, may be useful and successful for us all

[think3214]

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. Therefore, the Chinese government rightfully fears this universal craze over cryptocurrencies. It is not like Bitcoin threatens the local economy directly

[110910ktx]

I am not for imposing taxes on transactions. However, if they are to ban bitcoin thoroughly, I will move along with the taxes because whether you like it or not, the government is more powerful than you and you can do nothing to it.  I too hate the fact that there are taxes which is the first reason why I got into this industry in the first place. But as what you have said, we are powerless to oppose the decisions of the government

[bealjulian]

Well governments can be furious because it is losing taxes due to the technology that blockchain has implemented to solve financial problems. 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

[Sakash]

The government of many countries have tried to bring BTC under its control and the BTC would like to get VAT from the users. But because of not taking money from BTC, the government is doing these things...

[noictib]

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?

In my opinion every country have lots of users of the bitcoin and I am sure that every country government have made indirectly rules of the tax system ( by taking consideration of the bitcoin like Cryptocurrency assets in the other tax category ) .
And here I can say that the world of the cryptocurrency market is giving big contribution to the country economy to make it better because here the simple example of mine country is that they are not going to legalise but they are collecting tax from the users , that is a simple Indication that they will allow bitcoin to use with overall profit of tax system .
And I think this type of the transaction and revolution of the new new coins will continuously go one in the future because the problem of unemployment is solved by the bitcoin taking place and also people are getting in this field directly without seeing in another category to work .

[queenlaurel]

Government cannot get revenues because it is what they cannot control or dig into without the knowledge of each Bitcoin user. The only thing they can do in order for them to promote the economy since they can see that millions are being realised from Bitcoin is to appeal to people generally to help make their country grow. Don't want to believe people will be greedy enough not to help build their economy because it is for everyone's comfort.

[BlueStackz]

I see the government as greedy. There are several ways to tax citizens. Direct and indirect tax exist in every country. Owners of cryptocurrency may not pay direct tax on their cryptocurrency, but cannot avoid paying indirect tax. Again, it is a small fraction of the population that are into cryptocurrency. So the agitations by government from my standpoint is unwarranted.

Governments are now realizing the need of Bitcoin and that is why recently we have seen the act of Germany and recognized the Bitcoin for the first time ever in their history. This need is feeling to other countries as well because they are watching and observing the economies of other countries which are using Bitcoin. They also need this and soon the whole world will demand for it.

Yeah, I am observing furious situations in the countries where some governments are talking about the Bitcoin and other cryptocurrencies. They have seen the progress of other countries which are currently using the Bitcoin therefore they are also negotiating about the Bitcoin and its adoption.

Recently Germany has recognized the Bitcoin and they realized that the Bitcoin will also boost up their economy like some other country’s economies are getting better with it.

[stellgod]

Yes it’s true that no government can earn revenue from Bitcoin transactions. I have read about Russia starting up some Bitcoin mining farm to mine Bitcoins. If governments can’t earn revenues from Bitcoin, maybe mining Bitcoin is the best move to take, cause they can be able to earn from the fees that are being paid to miners. So there is no need to be getting furious over Bitcoin or whatsoever. They should just start mining and help the Bitcoin community lol.

[guizi6]

Ultimately, it can be affirmed by the state's supervision. This is a condition for the cryptocurrency to survive. The end result is that the country can monitor and the cryptocurrency cannot be used for illegal purposes. Then the state has no reason to stop it.

[aeternus]

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?

In my own opinion, taxes are already considered as fees and because of that, there is no need to ask for tax, the only reason why government is asking for tax is that, they want to get more money from people which will directly go to their own pocket.

There are some countries across the world that have been furious about the technologies like Bitcoin and have banned them there. This was a huge downfall to Bitcoin and the demand simply fell to the ground. However there is nothing to be afraid of Bitcoin and the technology should be spread instead. As a result of this act, we might seem some beautiful financial days in future.

They are trying to slow down bitcoin and they are being successful but once adoption begins to grow once again in those countries where bitcoin is banned then what else those governments can do, first world counties understand very clearly that it is impossible to stop bitcoin and that is why they are avoiding banning it and instead they are using regulations because if they banned it and bitcoin kept growing that will show how weak they really are.

[gowobonyok]

but the government also does not lose, the state is also not harmed right? keep going like this alone is enough. because if the government gives regulation to crypto, surely they will take a high tax.