Crypto adoption

[UchihaRukawa]

If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?

For now, I would like to think that cryptocurrency adaptation is a sure thing that would happen, but what happened mid this year would definitely affect this adaptation greatly in a very negative way. Many people went bankrupted because of that great fall, and I think it would take time before the whole cryptocommunity could recover from such loss.   

[patarfweefwee]

I think that isnwhy we need regulations placed in crypto currency so that it would protect both the people who have crypto currency and the ones that transact in crypto currency. I just hope taxation would be less that it would be fair for both crypto currency holders and the government so that both would benefit from crypto currency.

[batang_bitcoin]

Then they would collect taxes through crypto, simple as that.

By that time when massive adoption comes which is happening currently, you'll see news like this.

Op-Ed: Ohio’s Crypto Play Proves Bitcoin is Becoming a Currency

This Week in Crypto: Ohio Embraces Bitcoin

Ohio first state to allow taxes to be paid with bitcoin

[logic123]

crypto adoption is one of the good think and we can make good passive income from the crypto in short time and many people are already investing and making profit from it.

[Bonsaiav]

If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then?

It's easy for the government to collect taxes from crypto owners. With the prerogatives they have, it's easy for them to force each exchange account to look for detailed data from each user.

Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?

Maybe the government will work with service providers, such as Google, Opera, and several other social networks, to banish and hold sudden inspections of suspicious sites, even to close them if they are indicated to harm crypto users.

[Altero]

crypto adoption is one of the good think and we can make good passive income from the crypto in short time and many people are already investing and making profit from it.

Don't just think for easy money in here nor you just earned big amounts. Do hardworks still important and also how to market your investment. Many are losing because they can't adjust on how the market works and they don't have a plan for the incoming.

[PlusOne88]

If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?

I am certain that no matter whereyou are in the world or from whatever region you are coming from the government you have will always be watching over cryprocurrency. This is because  a huge amount of money involved that could definitely change the economic status of a country. Change for what is better isn't bad. But since it could involve loses then for sure the government ,
Is just watching and will intervene at the right time

[renemagritte]

I think adoption will come with IoT devices (they will run on blockchains) and moneywise, ETF and Bakkt will bring lots of corporate money to crypto world, which may help bitcoin and markets recover.

[efxtrader]

If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?

Government can make regulation to collect taxes from bitcoin trading. Every trade we made in market will put taxes by government. I think Ethereum is not a ponzi scheme because its already recognize as digital asset in several country

[Ezenwanyi]

If Cryptocurrency gets generally adopted today, I think government and stakehoders  would eventually come up with ways through which tax can be collected.
And also a way to stop the use of Cryptocurrency for scam purposes, pyramids and ponzis.
There is always a way.

[shinharu10282016]

If Cryptocurrency gets generally adopted today, I think government and stakehoders  would eventually come up with ways through which tax can be collected.
And also a way to stop the use of Cryptocurrency for scam purposes, pyramids and ponzis.
There is always a way.

There is always a way of course. The government of each countries which holds ICO are almost strict and doesn't want to hinder these projects but would want to protect these investors from the scam, pyramids, and ponzi schemes. Sad that most of these was also used as reasons to scam people.

[Semaj123]

If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?

Government can make regulation to collect taxes from bitcoin trading. Every trade we made in market will put taxes by government. I think Ethereum is not a ponzi scheme because its already recognize as digital asset in several country

I definitely agree, about Eth is not a Ponzi scheme because they are already been established and proved to be so much useful especially in ICO's. Furthermore, crypto adoption is getting more interesting because some countries are already using the services and hopefully in the future, we can witnessed a broad and wide adoption.

[DevilSlayer]

If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?

The cryptocurrency community is continuing to grow, it seems that people are now adopting cryptocurrencies. Governments are now also legalizing cryptocurrencies because of its function and its potential.

[Marsilius]

If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then?

It's easy for the government to collect taxes from crypto owners. With the prerogatives they have, it's easy for them to force each exchange account to look for detailed data from each user.

Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?

Maybe the government will work with service providers, such as Google, Opera, and several other social networks, to banish and hold sudden inspections of suspicious sites, even to close them if they are indicated to harm crypto users.

The governments also have the opportunity to collect the tax and the transaction fees if they will create their own online wallets and allow the banks to start accepting the cryptocurrencies. I think they have to start from the Bitcoin and after the success they have to allow the remaining currencies.

[el kaka22]

Do you guys think that since this american stock markets are getting into ETF and basically making bitcoin more and more legit every single day would help the shop owners or stores to start accepting as well ?

I mean there was a lot of talks about steam getting bitcoin and there was Microsoft and all that (we still have Expedia I think) and maybe if the stock markets have bitcoin in it there will be more like that ? I mean I really hope to see bitcoin to be at least accepted as an online payment option on all big places, apple accepting bitcoin for your online shopping would be a great start and amazon as well, that type of stuff would really make bitcoin get heard a lot, more than the price increase we all need a place to spend bitcoin in order to make it actually worth something.

[Muzika]

If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?

I think that is the issue that government wants to gave a solution because they are looking forward on the use of cryptocurrency, in fact here in my country cryptocurrency has gain popularity, there has a tv series that has a scene of giving a payment and the person wants to be paid by cryptocurrency meaning people are aware of crypto and they are waiting for the right time to use it.

[treatWy]

The government have their own problem even before bitcoin came in the world. It just happened that the people choose bitcoin and support the digital currency and now we can see the result. The massive improvement and continues progress is still present at this time. The adoption of crypto could help the country in general but it must be strictly tackle in order to produce good relation from community and society.

[cherryganda]

adoption through many merchants all around the world will give new light to crypto world.
There are so many reason why BTC And ALTS will climb up again and this is one of those.
ETF also is a must and regulation must be on the side of cryptocurrence then new ATH will come!

[Idrisu]

If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?

Most of these questions you asked are some of the things that are in our minds and that is why is taking governments time before there could regulate it.  Cryptocurrencies and blockchain technology created mush room for scammers to come into the market and many investors keep losing money day by day and governments are the only one that has power to stop that.

[Harlot]

I failed to add some points, even if the customers are using cryptocurrencies to pay their expenses I doubt that merchants can escape form not using Fiat currency as there tool, for one fiat currency is the one being used to pay their employees as it is in there law and the last thing is in order for these merchants to pay taxes they always need to convert their earnings to the fiat currency equivalent, holding it for long even after converting would only endanger their crypto holding for losing value.