Crypto adoption

[eroejoe]

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 agree with you that there will be less and less reasons for cashing out into fiat, especially within next bull market which should give more adoption than last one.
I think that government should educate peoples through educating system, to educate people how to avoid scams.

[1715088696]

1715088696

[1715088696]

1715088696

[1715088696]

1715088696

[1715088696]

1715088696

[jcarlo]

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?

If government regulate crypto for paying goods in merchant, i am believe government already thinking about this. When we buying goods in merchant, the price already attached with taxes. Beside that, I am believe government will monitor exchanger to collect taxes from our trade or our profits

[SvonioneFromMangoCoinz]

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?

They will seek to develop software to manage the crypto market. As you see, the crypto market contains a lot of people from different countries. A government will not be able to manage it all. They need to re-union to have the best solution.

[jatin729]

Creating an awareness under the people is not an easy task because people are really feel unsecured when they invest money into instrument if instrument is not centralized because there are high probability of being fraud in the crypto market that's why not many people want to take risk.
One more thing to create interest in the people we should have to make example so people get attracted towards crypto. Like in last year December when price of bitcoin was about 19000 USD people found btc interesting and most of people joined at that time but now bitcoin is at stage where people lost their faith in BTC.

[Osayo]

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 guess the dream of everyone already into crypto stuffs for them to be able to use crypto like the way they will spend their pounds, dollars, yuan, etc. But in practice, there are no such markets yet, or maybe just a few in some selected regions.

[Twinkledoe]

Creating an awareness under the people is not an easy task because people are really feel unsecured when they invest money into instrument if instrument is not centralized because there are high probability of being fraud in the crypto market that's why not many people want to take risk.
One more thing to create interest in the people we should have to make example so people get attracted towards crypto. Like in last year December when price of bitcoin was about 19000 USD people found btc interesting and most of people joined at that time but now bitcoin is at stage where people lost their faith in BTC.

I believe those who lost faith in btc don't really know the potential of crypto in our everyday lives. Right now, more and more businesses are integrating the blockchain within their operations so we are in the mass adoption stage already. Btc will recover as the demand increases.

[Wizking]

Although cryptocurrency adoption might seem like only a matter of time to enthusiasts, that’s far from the reality to those outside the space. This is why every sign of cryptocurrency creeping into our daily lives is another step towards familiarization and adoption - and this is why the cryptoverse celebrate such signs.

[SCheek]

I'm not sure how it works but Ohio currently accepts BTC for taxes so I see a system where the govenment would just accept BTC for taxes. Capital gains in relation to taxes is a different kettle of fish.

[gabmen]

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 guess the dream of everyone already into crypto stuffs for them to be able to use crypto like the way they will spend their pounds, dollars, yuan, etc. But in practice, there are no such markets yet, or maybe just a few in some selected regions.

Adoption is still an ongoing process. Nobody said we're ready for mass adoption yet. The points you raised are all valid and there are still a lot to be done on crypto for it to be more usable.

[kram31]

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?

There is no government who can stop PONZI, scam and pyramids.
It is on the people's hand, they know that the world is not safe though they are seeking for it.
They are being blind by big promises and fast money back. which is not good for them.
Even with out Cryptocurrency it is a big problem of the world and it will always to the people if they want to be one of the victims.

[ATMD]

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?

That's the reason why the government won't allow a decentralized cryptocurrency to take over fiat because they wouldn't be able to control it. Unlike what is happening with fiat wherein they can control and trace the people behind the transactions, in cryptocurrency, only the addresses are easily traceable but not the people behind it. Government would think ways to still control it like creating their own cryptocurrency perhaps.

This is true, government needs to find ways to receive tax revenue if fiat money is to be discontinued

[carlisle1]

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?

Though government must do action to keep the people safe,but it is our obligation to stay away from this scammers and ponzis and pyramiding.because aside from everyone,we must be responsible for our money because rhis is our hard earned.so stop putting the blame in government if. We become a victim because more than anything it is our fault