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RE: Wondering why Bitcoin dropped by over 10% last night?
I agree - regulation and price action shouldn't be afraid of. Cyrpto's will be regulated and this just means more mainstream adoption. Great post!
but if government regulates crypto, and they know who you are and control what you do with them and demand taxes from them....if it loses its decentralized value, what will be the point of cryptos then?
As it is decentralized coins, how the government know about where we purchased from, I mean which geographical location we purchased it?
I don´t think government regulate Crypto, they can regulate Exchanges which is a different thing, indeed they have started to do it .
But 1 BTC will ever be and worth 1 BTC if you control your keys, irrespective what government say and do. In fact what we can and will be able to do with Crypto is what the project behind offers and what people are willing to accept for.
Firstly what's wrong with paying taxes? Also I don't see governments controlling what you do with them, they don't control how you decide to spend your money. Finally adding regulations wouldn't make them decentralized. I suppose it depends on what regulations would be implemented - which no one knows yet. So maybe I shouldn't have been too optimistic with my first post XD
what is wrong with paying taxes? ...Well in today's scammy monetary system where only banksters and corrupted governments benefit from it, and almost all the budget is expended in paying back the interests of unpayable governmental debt and war.... taxation is, indeed, theft
Taxes go on healthcare, schools, the police force, roads, libraries and so on. I don't mind being taxed to pay for these things.
Im afraid you've got to educate yourself a little bit about the matter first... your country as any western country is under huge unpayable debt due to a tremendously corrupt financial and monetary system (specially UK by the way)... i wouldn't mind paying taxes either if I knew that it certainly goes to the subjects you mentioned before...but due to the way the monetary and financial system currently works, it is just an illusion that our taxes go to these things, while the truth is that most of it goes to pay the interest of the unpayable debt we are accumulating at expense of the future generations... I highly recommend you to watch Mike Maloney's "The hidden secrets of money" on youtube...Educate yourself and then we can discuss about the matter in greater depth. Greetings from Spain (another highly indebted country which will most likely collapse in the near future and never pay back its debt)
How is it that a nation that once had so much power and influence is now on the verge of becoming the next Venezuela? How could such a great power fall?
https://www.thetrumpet.com/16660-bank-of-england-economic-collapse-coming-if-uk-keeps-borrowing-money
http://uk.businessinsider.com/bank-of-england-richard-sharp-warns-uk-government-debt-2017-12
It will help price move up long term! Only issue I see is the mempool being jammed and turning people off
As it is decentralized coins, how the government know about where we purchased from, I mean which geographical location we purchased it?