Post
Topic
Board Economics
Re: possible government regulations?
by
milewilda
on 05/11/2016, 02:46:53 UTC
There's a regulation that is already functioning for the exchange sites, like in my local exchange,we were required to comply with he KYC Policy and fill up all the information that is necessary. With that rules, we have no choice but to follow and i guess it's just fine because exchange sites are legitimate and they are operating with the license granted by the government.

What I am afraid of to happen, is the time will come that our transaction will be tax..

We cant do  anything about that  because its been required  by  the  government and exchangers would  have  no choice but to follow same as  you mentioned.  Its  somehow a good  move for exchangers   to be  registered  or legalized   because  we could  assure  ourselves  on the  legitimacy of a certain sites. You said that  you were afraid to  put or  impose taxes on our  bitcoin , its  an  impossible  thing   to be happen for sure.
Politics and economics have always been so tightly linked to each other. If one day bitcoin and other digital currencies become the main stream and replace centralized currencies, I am guessing there will be changes in government policies as well. After all the nature of bitcoin makes transactions harder to trace, which opens up windows for illegal activities. With this new form of market, the government quite possibly would end up having less and less control.
Any measure that governments or banks may wish to take will come way before bitcoins becomes the dominant currency, since if they wait for too long it will be too late since nothing could stop bitcoin at that point.

I would  tell you this bitcoin would never  become  a dominant currency even how   it would rise  up  on the future. It would  remain as  a digital currency and  nothing can replace  fiat  in any way. As  long  bitcoin cant be controlled its  not possible that  it would be regulated to impose taxes  to those  who  uses it.  If  government  would  able to  control bitcoin  then for sure we are all f*cked  up but  still im  confident  that  it wont happen.