Post
Topic
Board Politics & Society
Re: Why bitcoins illegal ????
by
MattScott
on 03/03/2017, 13:21:04 UTC
Even if you use Bitcoins directly (for supermarket purchases, utility bills, buying gasoline.etc), it can be taxed. The government can just ask the retail chain to impose a surcharge on the Bitcoin payments. So if you are paying with BTC, there will be a 2% or 3% surcharge, and this amount will go to the government as tax.
Interesting point dude.
Some governments and countries recognize Bitcoin but they make a regulations that they will benefit it like inputting taxes from exchanges.
that's right they are panning to put taxes with exchange so they can benefits with btc, might be much better instead of banning bitcoin we should be happy if government will place some actions to make some earnings too like taxing local exchange in our respective countries in this way adoption or recognizing bitcoin will be much possible in every nations.
If bitcoin will be used in unlawful transactions, the major governments will be forced to either make all for the ban.

If a majority of the coins are used for illegal transactions, then I will agree. But if just 1% or 2% of the total coins in circulation are used for illegal purposes, will you support the ban on bitcoin? It is not fair.
Some logic in those words is still there. The fact is that if the authorities still decide to make bitcoin legal, it will happen only when it finds the ability to control all financial transactions and that all users report their income and taxes paid. Therefore, if the users agree on legalization, we should be ready to control.
If the use of bitcoins will have to pay taxes and all transactions will lose the anonymity that bitcoin will be the same currency as everyone else. Why would it then need? I think it will be the end of bitcoin.