Crypto markets can exist without government permission

[dekafee79]

Technically yes, but governments plays major role in the adoption of they are against the crypto then they will enforce unfair tax rate that pushes the people from using it away that is why we also need government support to take the crypto to next level but the positive is if one government does something good it will effect the Bitcoin overall and it could even force other governments to follow the same.

I actually read a lot of complaints from crypto lovers who say that the crypto tax rates imposed by the government are too high. Is this true because the government is against crypto or is the government only using crypto to make state revenue from crypto taxes?
But in my opinion, the government accepting crypto and allowing it is enough for me, because if it is prohibited, we cannot invest and trade comfortably.

[MRY]

Technically yes, but governments plays major role in the adoption of they are against the crypto then they will enforce unfair tax rate that pushes the people from using it away that is why we also need government support to take the crypto to next level but the positive is if one government does something good it will effect the Bitcoin overall and it could even force other governments to follow the same.

I actually read a lot of complaints from crypto lovers who say that the crypto tax rates imposed by the government are too high. Is this true because the government is against crypto or is the government only using crypto to make state revenue from crypto taxes?
But in my opinion, the government accepting crypto and allowing it is enough for me, because if it is prohibited, we cannot invest and trade comfortably.

For many crypto enthusiasts, the tax rates introduced by the government seem quite high, and that is why the topic of whether the government is more keen on using the tax potential of crypto for raising revenues, or it has its own concerns regarding this specific digital asset. Nonetheless, for anyone who finds comfort in buying coins and tokens and interacting with blockchain-based systems among other things, official recognition and approval from the government is something of a blessing. At least, we can transact and invest without insecurity knowing that prohibition has reduced the freedom that is associated with digital assets.

[Ujok]

Technically yes, but governments plays major role in the adoption of they are against the crypto then they will enforce unfair tax rate that pushes the people from using it away that is why we also need government support to take the crypto to next level but the positive is if one government does something good it will effect the Bitcoin overall and it could even force other governments to follow the same.

I actually read a lot of complaints from crypto lovers who say that the crypto tax rates imposed by the government are too high. Is this true because the government is against crypto or is the government only using crypto to make state revenue from crypto taxes?
But in my opinion, the government accepting crypto and allowing it is enough for me, because if it is prohibited, we cannot invest and trade comfortably.

true, there are many complaints from crypto enthusiasts about the high taxes set by the government for crypto traders and investors. in my opinion the government is not against it, in fact they benefit greatly from the existence of crypto, they can increase their income and they set high taxes because the price of crypto is very valuable, it's just that this only applies to certain countries and does not apply to all countries, depending on the government of a country.

[legend45]

Technically yes, but governments plays major role in the adoption of they are against the crypto then they will enforce unfair tax rate that pushes the people from using it away that is why we also need government support to take the crypto to next level but the positive is if one government does something good it will effect the Bitcoin overall and it could even force other governments to follow the same.

I actually read a lot of complaints from crypto lovers who say that the crypto tax rates imposed by the government are too high. Is this true because the government is against crypto or is the government only using crypto to make state revenue from crypto taxes?
But in my opinion, the government accepting crypto and allowing it is enough for me, because if it is prohibited, we cannot invest and trade comfortably.

true, there are many complaints from crypto enthusiasts about the high taxes set by the government for crypto traders and investors. in my opinion the government is not against it, in fact they benefit greatly from the existence of crypto, they can increase their income and they set high taxes because the price of crypto is very valuable, it's just that this only applies to certain countries and does not apply to all countries, depending on the government of a country.

Each country's policy is different in determining the amount of tax imposed on crypto transactions. The tax is one of the sources of government revenue, so at least crypto contributes tax to the government. Although there are complaints that the tax is too high, but by imposing tax at least the government has allowed crypto in the country.

[Blaze]

Technically yes, but governments plays major role in the adoption of they are against the crypto then they will enforce unfair tax rate that pushes the people from using it away that is why we also need government support to take the crypto to next level but the positive is if one government does something good it will effect the Bitcoin overall and it could even force other governments to follow the same.

I actually read a lot of complaints from crypto lovers who say that the crypto tax rates imposed by the government are too high. Is this true because the government is against crypto or is the government only using crypto to make state revenue from crypto taxes?
But in my opinion, the government accepting crypto and allowing it is enough for me, because if it is prohibited, we cannot invest and trade comfortably.

true, there are many complaints from crypto enthusiasts about the high taxes set by the government for crypto traders and investors. in my opinion the government is not against it, in fact they benefit greatly from the existence of crypto, they can increase their income and they set high taxes because the price of crypto is very valuable, it's just that this only applies to certain countries and does not apply to all countries, depending on the government of a country.

Each country's policy is different in determining the amount of tax imposed on crypto transactions. The tax is one of the sources of government revenue, so at least crypto contributes tax to the government. Although there are complaints that the tax is too high, but by imposing tax at least the government has allowed crypto in the country.

The different tax regimes present by each country indicates that governments are slowly recognizing crypto as one of the established economy. When paying taxes, we can be assured because this shows that there are laws regulating the conducting of economies hence expecting cryptos to operate under specific rules. To my mind, it will always be helpful that, despite certain extra expenses, crypto goes through the process of taxes, it can be recognized as legal and, thus, we will be protected from above as investors.

Moreover, taxes arising from cryptocurrencies can open opportunities for improvement in every country to develop. The money we spend in tax forms part of the contributions we make towards the improvement of structures and services. In this way, our crypto investments are not only selfish and profitable for individual members but also serve the interest of economic development. This means creating a cycle where we as investors help these countries incorporate crypto as part of their regulations.

[MrSpasybo]

The different tax regimes present by each country indicates that governments are slowly recognizing crypto as one of the established economy. When paying taxes, we can be assured because this shows that there are laws regulating the conducting of economies hence expecting cryptos to operate under specific rules. To my mind, it will always be helpful that, despite certain extra expenses, crypto goes through the process of taxes, it can be recognized as legal and, thus, we will be protected from above as investors.

Moreover, taxes arising from cryptocurrencies can open opportunities for improvement in every country to develop. The money we spend in tax forms part of the contributions we make towards the improvement of structures and services. In this way, our crypto investments are not only selfish and profitable for individual members but also serve the interest of economic development. This means creating a cycle where we as investors help these countries incorporate crypto as part of their regulations.

The story of taxes can come with many important issues:

1. Confirmation of the government recognition of the legal existence of crypto.

2. Crypto taxes should be used to manage and develop the crypto market, not just for national development.

3. The tax rate reflects the government friendliness towards crypto. Sometimes governments only accept crypto under pressure from the people but then maintain extremely high taxes, for example, 42% to disappoint investors and gradually make them leave this market and the crypto market will be gradually eliminated without the government being blamed.

Therefore, even when the government accepts and collects crypto taxes, investors also need to be sober to protect their own interests in the future, especially in the face of unreasonably high tax rates!

[Findingnemo]

Technically yes, but governments plays major role in the adoption of they are against the crypto then they will enforce unfair tax rate that pushes the people from using it away that is why we also need government support to take the crypto to next level but the positive is if one government does something good it will effect the Bitcoin overall and it could even force other governments to follow the same.

I actually read a lot of complaints from crypto lovers who say that the crypto tax rates imposed by the government are too high. Is this true because the government is against crypto or is the government only using crypto to make state revenue from crypto taxes?
But in my opinion, the government accepting crypto and allowing it is enough for me, because if it is prohibited, we cannot invest and trade comfortably.

Governments can use taxation system as a tool to discourage people from doing something that is why they impose taxes heavily on certain things like cigars, liquor and etc which means they can't stop them completely even if they ban so they are indirectly mentioning people to pay more if they want to use it and if they applied heavy taxes like 30 or 40% capital gains then people will look for other options than crypto which will definitely affect the adoption rate even though It doesn't stop them.

[rachael9385]

I did not read what you wrote I only read the blue write up.
But I want to make my comment from your topic that says crypto market can exist without government permission . I don't think that's true, crypto market can never exist in a country where the government has issued a ban to it. For example for years now nobody does crypto legally in china cause there government kicked against it. Any country operating in crypto market legally means it is the choice of the government.

[densus88]

Technically yes, but governments plays major role in the adoption of they are against the crypto then they will enforce unfair tax rate that pushes the people from using it away that is why we also need government support to take the crypto to next level but the positive is if one government does something good it will effect the Bitcoin overall and it could even force other governments to follow the same.

I actually read a lot of complaints from crypto lovers who say that the crypto tax rates imposed by the government are too high. Is this true because the government is against crypto or is the government only using crypto to make state revenue from crypto taxes?
But in my opinion, the government accepting crypto and allowing it is enough for me, because if it is prohibited, we cannot invest and trade comfortably.

Governments can use taxation system as a tool to discourage people from doing something that is why they impose taxes heavily on certain things like cigars, liquor and etc which means they can't stop them completely even if they ban so they are indirectly mentioning people to pay more if they want to use it and if they applied heavy taxes like 30 or 40% capital gains then people will look for other options than crypto which will definitely affect the adoption rate even though It doesn't stop them.

I agree with your comment, the government uses a high tax system as a tool to prevent someone from doing something, because with high taxes they will try to invest in other ways or not buy the goods such as cigarettes, alcohol, etc. Currently crypto is also subject to high taxes. This can be said that the government does not fully support crypto, but takes advantage of the busy crypto transactions.

[yohananaomi]

It is a natural thing for the government to do to avoid something that might be misuse of bitcoin for illegal transactions and the government cannot track because of the special nature of bitcoin which has that facility.
But a good government can make regulations so that it can be tracked with rules where every use of bitcoin must be exchanged for the applicable fiat and on the local exchange, that's all that can be done.
But I agree with you that if it is indeed used illegally, both bitcoin and fiat can be done the same.
Many countries have made it easy to be used as an investment and trade, but legal use must be exchanged first into fiat.

I believe it is quite logical that governments seek to combat Bitcoin abuse with special rules since the currency is nearly impossible to track. I would like to second that, good regulation actually offers security and freedom of use like making fiat conversions at local exchanges for supervision. As we will see they can both be manipulated and thus require strict supervision, nevertheless the difference does exist. It also became easier to use Bitcoin for investment and trading if the countries meet the existing legal requirements.

It is natural that governments must provide protection for the state and citizens to avoid possible abuse, because the nature of bitcoin cannot be intervened by anything caused by bitcoin.
It is more effective with clear regulations, where the easiest and most feasible thing is that every transaction exchanged for fiat must go through a local exchange recognized by the government, so that there is supervision of transactions that can be seen and intervention can be carried out if necessary.

[rizqillah]

It is a natural thing for the government to do to avoid something that might be misuse of bitcoin for illegal transactions and the government cannot track because of the special nature of bitcoin which has that facility.
But a good government can make regulations so that it can be tracked with rules where every use of bitcoin must be exchanged for the applicable fiat and on the local exchange, that's all that can be done.
But I agree with you that if it is indeed used illegally, both bitcoin and fiat can be done the same.
Many countries have made it easy to be used as an investment and trade, but legal use must be exchanged first into fiat.

I believe it is quite logical that governments seek to combat Bitcoin abuse with special rules since the currency is nearly impossible to track. I would like to second that, good regulation actually offers security and freedom of use like making fiat conversions at local exchanges for supervision. As we will see they can both be manipulated and thus require strict supervision, nevertheless the difference does exist. It also became easier to use Bitcoin for investment and trading if the countries meet the existing legal requirements.

It is natural that governments must provide protection for the state and citizens to avoid possible abuse, because the nature of bitcoin cannot be intervened by anything caused by bitcoin.
It is more effective with clear regulations, where the easiest and most feasible thing is that every transaction exchanged for fiat must go through a local exchange recognized by the government, so that there is supervision of transactions that can be seen and intervention can be carried out if necessary.

I agree with you, the easiest thing that the government can do to monitor crypto is to work with local exchanges to find out crypto to FIAT exchange transactions. So the identity of each user can be known by the government. This will make it uncomfortable for those who use crypto as illegal activities. But for me personally because I only do legal transactions, I am comfortable with this rule.

[Gurujebs]

I did not read what you wrote I only read the blue write up.
But I want to make my comment from your topic that says crypto market can exist without government permission . I don't think that's true, crypto market can never exist in a country where the government has issued a ban to it. For example for years now nobody does crypto legally in china cause there government kicked against it. Any country operating in crypto market legally means it is the choice of the government.

The government play a good role in cryptocurrency either we like it or not. Bitcoin used to roll around $40 to $50k but all of a sudden when Donald Trump started his Bitcoin support, Bitcoin gain traction and now thag he has won the election, Bitcoin has pumped to above $90k and heading towards $100k, that's government influence on Bitcoin.

When Kamala was in there, they didn't has this influence Donald Trump has on Bitcoin. If tomorrow Trump get to the office and ban Bitcoin, the damage it will do to the price is going to be very bad for Bitcoin price.

[enwi]

It is a natural thing for the government to do to avoid something that might be misuse of bitcoin for illegal transactions and the government cannot track because of the special nature of bitcoin which has that facility.
But a good government can make regulations so that it can be tracked with rules where every use of bitcoin must be exchanged for the applicable fiat and on the local exchange, that's all that can be done.
But I agree with you that if it is indeed used illegally, both bitcoin and fiat can be done the same.
Many countries have made it easy to be used as an investment and trade, but legal use must be exchanged first into fiat.

I believe it is quite logical that governments seek to combat Bitcoin abuse with special rules since the currency is nearly impossible to track. I would like to second that, good regulation actually offers security and freedom of use like making fiat conversions at local exchanges for supervision. As we will see they can both be manipulated and thus require strict supervision, nevertheless the difference does exist. It also became easier to use Bitcoin for investment and trading if the countries meet the existing legal requirements.

It is natural that governments must provide protection for the state and citizens to avoid possible abuse, because the nature of bitcoin cannot be intervened by anything caused by bitcoin.
It is more effective with clear regulations, where the easiest and most feasible thing is that every transaction exchanged for fiat must go through a local exchange recognized by the government, so that there is supervision of transactions that can be seen and intervention can be carried out if necessary.

I agree with you, the easiest thing that the government can do to monitor crypto is to work with local exchanges to find out crypto to FIAT exchange transactions. So the identity of each user can be known by the government. This will make it uncomfortable for those who use crypto as illegal activities. But for me personally because I only do legal transactions, I am comfortable with this rule.

If the government can watch crypto by partnering with local exchanges then there exists the possibility that the government will use this to track crypto to FIAT, this may raise some concern among users. This is why many people are wary, which is understandable given that each user’s personal data is sometimes indicated. I also get the impression that quite a number of people in my country employ crypto to evade state tax. In any case, it is necessary to be careful because this rule can affect practically all users of cryptocurrencies in terms of both the density of negative and positive consequences.

[Blaze]

It is natural that governments must provide protection for the state and citizens to avoid possible abuse, because the nature of bitcoin cannot be intervened by anything caused by bitcoin.
It is more effective with clear regulations, where the easiest and most feasible thing is that every transaction exchanged for fiat must go through a local exchange recognized by the government, so that there is supervision of transactions that can be seen and intervention can be carried out if necessary.

It needs to be noted that the government has an apparent task of preventing abuses for the country as well as society, especially as regards to bitcoin elements that cannot be intervened. It will also be very useful for regulatory certainty to be provided perhaps if Crypto to fiat transactions are done through locally, licensed exchanges. Thus, intervention on the transactions turns into easier control and can be made if and only if needed to ensure security and transparency.

[densus88]

I did not read what you wrote I only read the blue write up.
But I want to make my comment from your topic that says crypto market can exist without government permission . I don't think that's true, crypto market can never exist in a country where the government has issued a ban to it. For example for years now nobody does crypto legally in china cause there government kicked against it. Any country operating in crypto market legally means it is the choice of the government.

The government play a good role in cryptocurrency either we like it or not. Bitcoin used to roll around $40 to $50k but all of a sudden when Donald Trump started his Bitcoin support, Bitcoin gain traction and now thag he has won the election, Bitcoin has pumped to above $90k and heading towards $100k, that's government influence on Bitcoin.

When Kamala was in there, they didn't has this influence Donald Trump has on Bitcoin. If tomorrow Trump get to the office and ban Bitcoin, the damage it will do to the price is going to be very bad for Bitcoin price.

You are right, government support will affect crypto. because with the support of the government, especially a big country like the US, the price of bitcoin reaches its ATH. Trump has made a good decision during the campaign to support bitcoin and will make the US a [bitcoin center so that the price of bitcoin skyrocketed when the vote count for Trump won the US presidential election.