Quote from: Dotakels on September 12, 2015, 11:34:02 AM

Quote from: freeyourmind on September 11, 2015, 04:50:28 PM

Quote from: Dotakels on September 11, 2015, 01:07:07 PM

Quote from: freeyourmind on September 11, 2015, 04:01:28 AM

Quote from: Gyfts on September 11, 2015, 01:05:08 AM

Quote from: freeyourmind on August 27, 2015, 10:18:24 PM

Quote from: Gyfts on August 25, 2015, 10:09:20 PM

Quote from: misterycoins on July 31, 2015, 11:40:50 PM

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

The government of first world countries would never want their beloved currency to go to waste. They are already acting against it. They can't fully go through with it, however. It's a decentralized currency. The only possible outlet they have is putting place laws and regulation that make it harder to obtain or trade. NYC bitcoin LBC exchanges have pretty much been banned because you need a license (which is hard to obtain) in order to purchase/trade bitcoin. I wouldn't be surprised if more came.

I think there is a lot more difficulty in trading bitcoin with a fiat currency, as the fiat part can be tracked without too much trouble, and as long as financial institutions/banks carry out the government's will, it can make it a chore to trade. What is very difficult to control however, would be bitcoin being used to buy and sell actual goods and services. It is very effective at doing that, whether the government chooses to act against it or not. In fact if they choose to be against it, then they will force bitcoin users to operate outside of the law, and that means that they won't be able to capture any tax revenue from sales.

The IRS already wants people to put bitcoin apart of their income if they have any. So it's not like people aren't already escaping the laws of the US tax system. Regardless, I would have to disagree about trading with Bitcoin and fiat currencies. In my opinion trading with BTC is much more easier than fiat currencies because of the fraud associated with sellers and fiat currencies. I'd only accept bitcoin when possible if I were to sell anything, especially online. I wouldn't have to worry about any type of bullshit going on with my money in terms of fees, chargebacks, ect. PayPal specifically coming to mind in terms of ecommerce and online dealings, they do nothing but rob you of your money.

I think you misinterpreted what I was trying to say. I am talking about trading/exchanging funds between bitcoin and fiat (x bitcoin for y USD or vise versa). Without fiat transactions, how is the government going to keep track of your bitcoin transactions? It wouldn't be within their line of sight to know how much bitcoin you have.

I know what is your point, you only want to say is, bitcoin is only depending on fiat money and if theres no fiat money bitcoin will be useless, you only change your money into digital so that you can have an easy transaction.

I'm probably not explaining myself well enough. I'm talking from the perspective of (the government) tracking people with bitcoin and bitcoin transactions. That tracking can only be done if you are exchanging your bitcoin with fiat (not cash), so that there will be a record with your bank. Other bitcoin purchases that are not taxed, wouldn't be traceable.

So in the even that the government outlawed bitcoin, I think you'd still be able to use it as long as you don't have transactions between your bitcoin account and your fiat bank account.

How you can exchange your bitcoin into fiat but not in cash? through exchanging your coins into fiat and put it into your bank account? how? because all i know that you can only exchange your bitcoin if you exchange it into a cash and if you exchange it through load it can also track you.

the government can use various justifications or pass new laws if necessary that bars businesses from accepting bitcoin as payment. Laws against tax evasion, money laundering, etc.