Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: nazakethussain on August 31, 2018, 09:39:43 AM
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What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.
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I think that is not an easy matter, even if more than 60% of citizens in a country support the government crypto would not issue a policy on its support (even if there is a tax on every transaction and income), because as far as I know (from this forum) very much the opinion that the government wants full control over crypto in the country, different if the country wants to enter and join the crypto space.
and the tax policy in every income in my country has been imposed on every crypto investor (but still crypto is still illegal and not illegal) and of course there are still many people who are absent to pay income tax from crypto. so far this is all I know.
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If we need to negotiate to the government all we need is to follow the rules of agreement of the government. If that happen the cryptocurrency is now centralized and every time we transact o making a business we need a third party to agree our every transactions. It safe but sometimes its unfair due to putting biggest taxation in every transactions.
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What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.
I think every countries has national currency. I think It is difficult to negotiations with government to legal bitcoin.
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Briliant idea. I think the first step that must be done so that the government accepts and legalizes bitcoin is by imposing taxes first. Taxes will benefit the country so it is likely that the government will agree to legalize bitcoin.
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Not that easy. You know, currency is a symbol of a nation. Even a micronation, have their own currency. If you learn economy in school, you will know that currency is a complicated thing, you can't just change or set the value of nation's currency just like that.
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Bitcoin will not become a legal currency, but it may well become an authorized means of payment.Then people will quietly use it and pay taxes.
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I believe by now several governments are considering ways to benefit from this new and awesome technology. Well, this wouldn't be a bad idea as far as it will sustain crypto.
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What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.
I think It is difficult thing. Every country has national currency. But maybe It will hapoen at the future.
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What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.
I think If the bitcoin legalized, It will be centralized platform because the government will controll it. I am not agree.
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If bitcoin is able to help the country grow i believe government will accept crypto legalization in the country.
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I think there are some countries that might reject this. Investment in crypto looks risky because it can be manipulated.
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I think there are some countries that might reject this. Investment in crypto looks risky because it can be manipulated.
Yes, I agree with you, because the purpose of the government wants its people not to experience losses basically. but if managed properly by the government using legal regulations from the government it would be better for the community to use Crypto currency.
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Even if the state agrees to accept a tax on storage or transactions with cryptocurrencies, it will not be able to completely cut off the movement of offshore accounts that will simply be, but no one will know where they are from. The government cannot radically change the bitcoin model, it can only adapt.
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That's not going to happen so easily, some of the rules are violated in bitcoin and it may be a rival to fiat money. That's why some countries ban everything related to cryptocurrency.
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I am not sure this can be done. It is very difficult to legalize bitcoin like the money currency used by people. It takes a long time if this happens.
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I don't think people need to convince governments about bitcoin. As long as we continue to use bitcoins, governments will have to make the necessary arrangements, and legislation on taxes and other matters is the problem of governments.
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We must be contented on what the crypto currency have their own governance today. If we look and see what the government dealing to crypto world is they are accusing that this kind of business are illegal because it can be uses in any kind of illegal transaction without knowing by the government because of being decentralize. If this currency own by the government it become a no more taxation free.
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What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.
I think It is good idea, negotiatons with goverment to legalize bitcoin. But we will be taken by tax.
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If we give tax to the government then we agreed that we are controlled by laws and regulations. Bitcoin is decentralized but it is recognized in some countries that everyone can play with cryptocurrencies.
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There is no need to people to negotiate with the government because if the government saw that this bitcoin realy helps there people o think maybe the governments will come and invites there people to use bitcoins.
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It will be very difficult to convince this government about Bitcoin. Maybe the only way is to socialize regularly to the community and get broad community support and we can submit and demonstrate to the government to demand that Bitcoin or Crypto digital money be legalized and recognized by the government.
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It will be difficult for us to negotiate with the Government if there is a Law or legal umbrella regarding the prohibition of Digital Currency such as Crypto, especially Bitcoin now. Unless the country does not have a clear legal umbrella for digital currency, it is likely that we can negotiate with the government to legalize Bitcoin as a digital currency.
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What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.
It is a legal currency in a lot of countries. We do not have to agree to give tax on our bitcoin income, we are actually required to pay taxes on any type of income (except those provided in your laws as exempted).
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I am not sure about that, but what I believe is that sooner or later countries that disagree later will approve it, it's just that tax is a very difficult thing to implement in cryptocurrency, and I myself want to keep cryptocurrency more tax-free, because in the real world all are already full of taxes, if the cryptocurrency has to pay taxes too, then it is unfair to think that it happened because there is little to no excuse.
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Yes. We must always negotiate with governments in countries in the world to approve and legalize Crypto as a digital currency. I think this method is the most appropriate way to convince the government. But on the other hand, it will be difficult to convince the government because the crypto world is difficult to monitor its finances because it uses a decentralized system.
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What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.
I think It is good idea, If goverment legalize bitcoin , we will see more stable price. I think It will happen soon.