Post
Topic
Board Economics
Re: France declares war on the cryptocurrencies
by
junoreactor
on 08/02/2018, 01:58:58 UTC

What we can certainly assure you is that this new scenario has made Bitcoin especially sensitive to changes in the market, sanctions have caused many investors to migrate to other futures markets and abandon the idea of ​​continuing with bitcoin, although there are more who wait to reach an agreement, since the characteristics of the currency itself favor everyone equally, including those belonging to governments, France has been the most insistent in Europe in the prohibition, why?

Because France has massive public debts due to huge public expenses, it's a very socialist country, welfare is huge in comparison to other nations in Europe. In the meantime the hard workers don't earn that much money (they will pay between 22% to 30% of taxes every month + at least one full monthly salary of tax once a year). For instance someone earning 2000 EUR/month will pay:
-500 EUR of charges every month (immediately deducted)
-additional (circa) 2000 EUR a year
> (500 * 12) + 2000 = total of circa 8000 EUR of yearly taxes for a monthly salary of 2000 EUR.

For someone earning 3000 EUR to 5000 EUR a month, this is even worse.

Yes that's correct, the government tries his very best to take the most they can from workers in order to pay for the public debt (which will never be paid in full anyway). Add to that massive privileges given to politicians, senators, etc. this needs to be paid by the average workers too.

How come anyone can even imagine that such a country will support a concept that allows to "hide" money in a crypto-currency wallet?
Investments, activities related to digital money will be highly taxed and very monitored in France, very soon and that does not come as a surprise to me.