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iTradeBit
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December 08, 2018, 12:41:26 PM
 #1

Friends in the world of cryptocurrency and Bitcoin itself there are big problems with a record fall.
Along with this, the G20 is actively discussing legislation in the field of  cryptocurrency taxes.
This is undoubtedly a plus in terms of legality and acceptance by countries. What do you think will be a plus for the price of bitcoin? Is this not a minus from the point of view of ease of use of cryptocurrency, as we know one of the advantages of many coins is a good anonymity, what will happen next with Bitcoin and crypto legislation, in your opinion?
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December 08, 2018, 12:46:16 PM
Merited by dbshck (2)
 #2

Friends in the world of cryptocurrency and Bitcoin itself there are big problems with a record fall.

From which point are you summarizing the chart? Pumps and dumps are a regular part of this market.
You can call this a record fall, considering that the last peak was a record high and we technically entered a new phase in the market.

Along with this, the G20 is actively discussing legislation in the field of  cryptocurrency taxes.

Anyform of regulations from governments is not a welcome development. Governments recognizing this technology would increase adoption, but it reduces most of the qualities it possesses.





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December 08, 2018, 12:59:57 PM
 #3

G20 will not affect cryptocurrency. I think that bitcoin is not important for officials of such a height, and they have provided themselves for the rest of their lives. And they will not play Bitcoin
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December 08, 2018, 01:02:00 PM
Merited by dbshck (2), o_e_l_e_o (2)
 #4

This must be a newbie thing.  I can't see any "problem" with Bitcoin.  I don't know why so many people see a fall in fiat price as something that needs to be "fixed".  And even if it was something that needed to be fixed, that we somehow need outside help from centralised authorities to do that.  It's perverse.  The whole idea is that we aren't relying on intervention from governments.  It doesn't need fixing and we don't need the G20 to "help".

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December 08, 2018, 01:07:37 PM
 #5

If the G20 makes a positive decision about cryptocurrency, then this could be a new wave of growth.

SEC will not go against G20 and will also take a soft stand against Bitcoin

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December 08, 2018, 01:40:02 PM
 #6

Here is the latest , G-20 Summit Results: Crypto Is Important for Global Economy, Needs to Be Regulated and Taxed. I was actually thinking that the G20 summit will bring some positive news for the growth of crypto in general, but it seems that people hasn't noticed it because it didn't put enough traction to push the price again. Although for the its a very positive stance and I  guess taxation and regulation will have to come sooner or later.

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December 08, 2018, 01:46:56 PM
Merited by dbshck (2)
 #7

The G20 has a double standard when it's about cryptocurrencies. It's not ok cryptos are bad and bla bla bla but hey if there some millions to collect via the taxes or whatever finally it isn't so bad... Not long ago they wanted to have a control at some level, but then realized how hard it could be. Now they let the governments dealing locally with this part with a bunch of new taxes, or KYC/AML policies. No one is singing the same song. I have no idea how G20 can help, I don't think it can and in fact it could do the opposite too.

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December 08, 2018, 01:54:12 PM
 #8

Well in able for us to continue uaing bitcoin and to be adapted legally among other countries and for the good also of its consumers where we can see a possible huge users that will going to take on bitcoin. Hopefully that the discussion will going to went through as it should be.l formbitcoin and cryptocurrency.

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December 08, 2018, 01:59:30 PM
 #9

Friends in the world of cryptocurrency and Bitcoin itself there are big problems with a record fall.
Along with this, the G20 is actively discussing legislation in the field of  cryptocurrency taxes.
This is undoubtedly a plus in terms of legality and acceptance by countries. What do you think will be a plus for the price of bitcoin? Is this not a minus from the point of view of ease of use of cryptocurrency, as we know one of the advantages of many coins is a good anonymity, what will happen next with Bitcoin and crypto legislation, in your opinion?
It is going to be a real challenge to put tax on crypto currencies. Crypto currencies are decentralized. The government does not have full control over this economy. So if the government wants to put on proper tax on crypto currencies, they have have to regulate it heavily. The more regulations they put on, the more centralized it will end up becoming. Then eventually there will be no difference between those digital currencies and crypto currencies. If the government wants to full emphasize on taxing crypto currencies, they will have to find some other way that would be reasonable for all.

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December 08, 2018, 03:04:14 PM
 #10

The banks are the biggest money launders on the planet. The most recent money laundering scandal with Danske Bank and Deutsche Bank is worth over €200 billion ($227 billion). All the big banks - JPMorgan, BoA, Citigroup, Wells Fargo, HSBC, Santander, Barclays, etc - have been implicated in money laundering schemes. They all escape with minimal, if any, punishment. Why? Because they pay the politicians.

The only people that G20 politicians are trying to help are themselves. They don't want an alternative monetary system that will challenge the supremacy of the big banks, because the banks pay them off/donate to their campaigns/provide bonuses/etc. They want crypto under tight regulations so they can control it and tax it. All they care about is profit for themselves. These are last people on Earth we should be looking to for help.

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December 09, 2018, 06:17:54 AM
 #11

Along with this, the G20 is actively discussing legislation in the field of  cryptocurrency taxes.

Anyform of regulations from governments is not a welcome development. Governments recognizing this technology would increase adoption, but it reduces most of the qualities it possesses.

regulations doesn't change anything about a decentralized system so you can't say it "reduces the qualities of it" either. for example when bitcoin was regulated in Japan last year, none of the characteristics of bitcoin such as decentralization, being boarderless,... were diminished. if anything it became even stronger since it opens up to a lot more people that are now running full nodes, mining bitcoin, companies thinking about getting into ASIC manufacturing, shops accepting bitcoin payments, ... it is all growth.

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December 09, 2018, 02:35:51 PM
 #12

I don't think that there will be any effect from this G20 meeting again. Remember the recent G20 summit that everyone tuned in? nothing really happened to the after that.

I reckon what oeleo said, they are just thinking about their benefits not for the majority. It's just that they can't ignore crypto's anymore so they have to do something in able to make something from it.

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December 09, 2018, 03:59:23 PM
 #13

This must be a newbie thing.  I can't see any "problem" with Bitcoin.  I don't know why so many people see a fall in fiat price as something that needs to be "fixed".  And even if it was something that needed to be fixed, that we somehow need outside help from centralised authorities to do that.  It's perverse.  The whole idea is that we aren't relying on intervention from governments.  It doesn't need fixing and we don't need the G20 to "help".

100% correct.
The first thing that struck me while reading the OP was the "problem" the
problem being the fall in FIAT value. Its obvious a lot of people are over
extended in crypto and are relying on FIAT value NOW.

We dont need or want regulation to fix any perceived problems but the G20
needs and wants it.
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December 09, 2018, 04:42:04 PM
 #14

The decision was made on 1 December 2018 in Argentina that will be in line with the Financial action task force (FAFT) recommendations. The major countries of include leading economies — India, China, US, UK, and EU are agreed To Regulate Crypto Assets, they agreed to introduce regulations on cryptocurrency.
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December 09, 2018, 05:41:45 PM
 #15

Every fall from the previous ATH is a 'record fall' if you're in the market for far too long, and no, G20 wouldn't do much for bitcoin simply because legality =/ adoption. They can add all the taxation and regulatory framework they so do like for bitcoin, but if people still don't feel the need to be a part of the ecosystem, they simply wouldn't do shit and let everything go to waste. It promotes strong confidence for the institutional investors, but for the general masses which I think is the major user-base of bitcoin, this changes nothing.

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Scharfenberger
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December 09, 2018, 06:29:22 PM
 #16

Hardly they can help. They might only make it worse because first of all they start thinking how the can get more taxes  Wink
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