Quote from: prehisto on July 20, 2019, 04:05:17 PM

Dont be over dramatic, none will battle Cheesy

Governments will chose to regulate or ban Bitcoin and altcoins with along it.
Regulation will be harsh or wage, probably it will be unpleasant for most ocrypto users, but it is the next chapter of bitcoins " book" we want it or not.

Government can't regulate crypto that is the beauty of it. Besides, I think they have better things to do.

Quote from: 1Referee on July 20, 2019, 06:25:34 PM

Quote from: bryant.coleman on July 20, 2019, 02:13:08 PM

It will be foolish to believe that the government will just sit back and watch the show, when the national currencies take the hit. The tax revenues are going to get affected and the entire apparatus will feel the impact. So at some point, they will be forced to initiate action against the cryptocurrencies.

Can you explain me how the tax revenues as you call it will be affected? I for example can choose to not trade and not profit, which means no tax going towards the government, or I trade and profit but not pay any tax. So how exactly will the tax revenues be affected? The government can't lose or be impacted by something it never had in the first place.

I personally do pay tax over the profits I make because it's done through centralized exchanges, but this is pure profit to them. It's money they have now that they didn't have before, and didn't count on to generate. Governments have to work on being competitive and fair so that crypto businesses will choose their country to settle in. It's a new (additional) source of income for them.

Lol I know right? This person has no idea what they are talking about. The goverment is forced to "sit back and watch the show" their currency failed us so we created our own. Crypto has nothing to do with the goverment. We are free to trade in wahtever we want. YOu may trader services even and people have done it for a long time. For examlpe let us say you an IT expert and I have a huge problem with my network and you fix it for me but instead of charging me currency I will repair your car. It would be exactly the same with using a currency but we just skip that part entirely. This is not taxable. This is very similair to crypto but you trading in something that has a value on its own and not a service.