will Governments really accept bitcoin? i can't see it happening

[sssminty]

Okay, I love Bitcoin, and I'm would be totally convinced it is the future...if it were not for the obstacle of the international banking cartel and governments standing in the way.

I know the recent meeting of the US Senate was pretty pro-Bitcoin, but if Bitcoin were to spread to a degree that it threatened the US dollar, why would they tolerate it when there are such huge enormous heavily established interests at stake?

money is created out of debt with interest. that interest is the profit of the banks. Bitcoin could destroy that system.

Governments are owned by financial interests...

Am I missing something? This is the one thing that really disrupts my faith in Bitcoin. But then there seem to be plenty of people 100% convinced that Bitcoin is going to take over the world.. I'd like to believe that...

Any thoughts? Especially from those who may know more about this stuff than I do?

[Jacce]

I don't think bitcoins would ever actually threaten the USD. I don't think there are any large chances of Bitcoins taking over the world, but it might become a large alternative currency for online payments. As it works currently, I don't think it has good chances of working as a payment method IRL since the confirmations require too long time.

[dan123]

Well the government that does embrace it will have richer citizens and be able to tax people in the long run.  It will also have more jobs/create jobs from companies involved with bitcoin.

If banks can loan USD they can loan bitcoins too.  Politicians only care about how much money they can raise for their party, not the long term good for the country.

The real interesting stuff is how a company can go IPO with blockchains instead of the stockmarket.

[shorena]

Germany is actually taxing incomes from Bitcoin speculation if you do not keep the btc for at least 1 year. It is taxed in the same way as any other foreign exchange trading. Well expect the government cant search my BTC wallet

[Martijnvdc]

Germany is actually taxing incomes from Bitcoin speculation if you do not keep the btc for at least 1 year. It is taxed in the same way as any other foreign exchange trading. Well expect the government cant search my BTC wallet

I always wondered... How can you tax a (pseudo)anonymous currency?

[beetcoin]

Germany is actually taxing incomes from Bitcoin speculation if you do not keep the btc for at least 1 year. It is taxed in the same way as any other foreign exchange trading. Well expect the government cant search my BTC wallet

I always wondered... How can you tax a (pseudo)anonymous currency?

probably because there's a paper trail every time you cash out, at least via an exchange.

[icem3lter]

Germany is actually taxing incomes from Bitcoin speculation if you do not keep the btc for at least 1 year. It is taxed in the same way as any other foreign exchange trading. Well expect the government cant search my BTC wallet

I always wondered... How can you tax a (pseudo)anonymous currency?

You cant tax BTC, but you can tax the money you get when selling BTC

[de3mka]

Germany is actually taxing incomes from Bitcoin speculation if you do not keep the btc for at least 1 year. It is taxed in the same way as any other foreign exchange trading. Well expect the government cant search my BTC wallet

I always wondered... How can you tax a (pseudo)anonymous currency?

From legal perspective it's quite easy - the same way you tax "cash". Make it your obligation by law to provide tax returns in bitcoins.

[GamecoinFuture]

Lets hope that governments wouldn't want to miss out on the growth and jobs being generated by crypto businesses.

[feves]

they don have to accept but they don have to denied as well