Quote from: freedomgo on Today at 08:49:20 AM

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Quote from: freedomgo on Today at 05:31:18 AM

Quote from: Mr. Magkaisa on March 28, 2024, 11:20:49 AM

- Yes, I thought about the title of this topic that you made. There are other countries that don't like bitcoin, and yet when there is a casino that applies under their regulation to legally operate in their country, they are given a license, even though the casino itself accepts bitcoin or cryptocurrency as one of the things that will be used. match the casino platform.

This really makes sense to me. Maybe that's because the government has as much interest in the casino itself and doesn't care about the system that the gambling platform has. Because the tax that the casino will pay is also taken from the gamblers who play on their gambling platforms, right?

The government cannot tax bitcoin directly but they can tax the platforms that are using bitcoin, most popular ones are casinos and exchanges. If a country does not like bitcoin, of course they'll ban anything that uses bitcoin, including gambling sites.

Since you explained that there's a country that doesn't like bitcoin and yet they tax or regulate a casino that is accepting bitcoin, can you name a specific casino you are referring?

Or we can china as an exchange, we know that they ban bitcoin, so the question is, do they regulate a casino that accepts bitcoin?

Well said, that's how the government is, because they can't move or interfere with crypto especially bitcoin but they will find any loopholes to make a way for them to get money from crypto users so when they found out that other casino houses accept bitcoin as a means of payment, then they will take action and voila! Hello tax was their solution. Believe it or not, most of the government employees are aware of the movement of crypto so some of them have an idea of what to do so that they can milk the citizens pocker who are crypto users, but to think of it, they themselves are crypto users as well.

That's the rule of the government, they take taxes on anything that is making money, they don't tax bitcoin outright since by definition it's only currency or an alternative currency, what they will tax are those platforms that are running to make transactions possible, like the casino and exchanges, and there are also countries that taxes people, you know, when a gambler wins, they are obliged to pay taxes from it.

So it's either they'll ban it, or accept it to gain tax... if they will ban, it's not good for us as what we will do is illegal, so it's better to get tax that face consequences on our illegal actions.

I would go even a bit further. If the governments are ok to approve a bitcoin based ETF, that is regulated by the financial authorities and is gaining lot of momentum in the traditional financial forums as alternative investment, how can we still consider that Bitcoin is not some form of money. It is like gold in the sense that you can bet with gold and it is no fiscally different from money.