Controlling Bitcoin

[cryptomaster4]

Can any government control bitcoin?or add taxes for btc users?

[1714842276]

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[1714842276]

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[1714842276]

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[DannyHamilton]

Can any government control bitcoin?

That depends on what you mean when you say "control bitcoin".

A government can create laws that control what the citizens are legally allowed to do.

or add taxes for btc users?

Many governments already tax bitcoin based income and/or bitcoin based sales.

[Bonheur]

İt depens on what you mean by controlling.To control bitcoin you have to own it.
Other than that, governments can have lots of it if they want to but it looks like that is not happening openly.
We don't know who the whales are, or if they are working for some government really.Maybe they are already controlling it.

[staywoke081]

They can control the taxation and the laws surrounding it, but they most certainly can't shut it off or deny anybody access by "controlling" the Bitcoin network. Taxes are in for most places that support it, although I would like to see an option to pay in BTC rather than fiat.

[stryker]

Of course, the government  can set a profit tax with crypto currency. But how will this profit be tracked? Thought  many countries already introduce such a tax
Bitcoin can't control the government like anyone else.

[javadsalehi]

Of course, the government  can set a profit tax with crypto currency. But how will this profit be tracked? Thought  many countries already introduce such a tax
Bitcoin can't control the government like anyone else.

Governments can know the profits that users make by forcing exchanges to give the users transaction details when they are converting their cryptocurrencies to fiat.

[charlotte04]

Can any government control bitcoin?or add taxes for btc users?

How can they require taxes for those you uses Bitcoin if they do not know who uses them. I bet if they are going to do that then they might give the exchanges to pay taxes for us then the exchange would get the taxes from us.

[jseverson]

How can they require taxes for those you uses Bitcoin if they do not know who uses them. I bet if they are going to do that then they might give the exchanges to pay taxes for us then the exchange would get the taxes from us.

Taxation, regardless of Bitcoins being involved or not, is pretty much an honor system anyway. You can get away with under-declarations if you're confident the systems in place won't detect any wrong-doings. In this particular case, exchanges are going to be (or already are, in some countries) integrated into that system by monitoring them. That means if you use an exchange, and not declare your Bitcoin income, you could very well be charged for tax-related offenses.

If you only engage in peer-to-peer trading, you're right, they won't know you use it for the most part.

[Velkro]

Can any government control bitcoin?or add taxes for btc users?

They can add taxes its in theirs power.
However they cannot control it. Bitcoin is decentralised technology.
Its basic stuff i recommend bitcoin whitepaper  only 8 pages.

[kimochidesh]

Can any government control bitcoin?or add taxes for btc users?

I don’t know what do you mean by the word “control”, but it implies that you are asking could government own Bitcoin or could they increase or decrease Bitcoin? This obviously is not possible. But yes, the government can affect investing in Bitcoin in its country by framing some laws that can hinder the people from investing in cryptocurrencies. And some governments have already started levying taxes on income from Bitcoin.

[T.Perry123]

Can any government control bitcoin?or add taxes for btc users?

Governments cant really "control" bitcoin, however they can enforce regulations. They cant really tax the transactions that take place within the bitcoin platform as the identity of each trader is unknown but once transactions leave the bitcoin platform and are traded for fiat they can be traced and the government can regulate and monitor them. By creating something that is detached from any regulating authority, it removed all control of governments and central banks and so regulation will require a well-coordinated effort across almost all economies.

[Ciscopro2000]

They can regulate and tax if the your trading is done a US based exchange.  I’m not sure we are at that point yet. 

[BitMaxz]

I think it's impossible that the can control bitcoin because not only 1 person is using bitcoin and it is decentralized so no who can control or own this bitcoin except for tax, which is government could do how much tax they could ask.

Regulation is one of the government wanted just to restrict bitcoin use, but it doesn't affect the bitcoin price unless if the government could invest a large amount of money in bitcoin and maybe they can manipulate the price of bitcoin.

[Komorhan]

if it is not a colonial state, the states are standing with taxes. States use every way for tax. if you can control the crypto money world. of course they get taxes.

[upekhaanthony]

I think it is not possible to control by the government because of its decentralised behaviour. Government directly can't add taxes to bitcoin but they can add taxes in exchanges while trading, with the support of the exchanges. But it is not that much simple to add and track taxes. When some convert their cryptocurrency to fiat currency, then the government can add taxes to your bank account.

[CryptAssist]

No and yes. Due to the technology being decentralized, meaning that there is no one server that contains the bitcoins. It's person to person, or peer-to-peer technology. No necessary middleman. But exchanges and other services can act as go betweens but no one can stop bitcoin. As far as it being taxed, it already ti depending on the country. There is no acceptance of BTC as a payment though to government agencies as far as I know. But they tax in Fiat currency. Once again, depends on the country.

[20_JeRRy_20]

I think the government can control bitcoin.It can be assumed that in the next 1-2 years in the most advanced countries, cryptocurrencies will receive a final definition, according to which tax legislation will be created within the next few years, possibly adapted exclusively for cryptocurrencies.

[BTCW]

The long answer is: No

No person, organization or government can control a truly decentralized digital asset.

States can control two things:

-- Their own fiat currencies and banking systems. Meaning countries who criminalize crypto currencies can make it difficult for exchange markets that deal in fiat.
-- The internet. With very limited success, though. Especially on Bitcoin, which runs perfectly fine over onion routers (TOR network). VPN services and proxies do the job too.

Pandora's box is open.

[Intensity13.6]

Can any government control bitcoin?or add taxes for btc users?

I think it is very difficult to happen,bitcoin is decentralized and digital currency,that's why,there's no single authority can control it.

[Yusuke777]

Taxes on bit coins and crypto currencies are heavy in Japan.
Government will be able to control readily from the outside.