Any news, events, and loud statements are discussed on forums and in communities. What excites users from different countries, read the review Bitnewstoday.
Cryptocurrencies and the law
Bitcontrol discusses the decision of the German government on the recognition of the cryptocurrency legal tender, as well as exemption from taxes for transactions with virtual money.
The mood of most participants in the discussion raised, because in recent years the blockchain-the community is not spoiled by positive news:
“Germany is one of the brightest leaders in Europe and the world when it comes to the economy. This news makes us very encouraging and we are delighted that others are coming in our footsteps. In a way, change was inevitable.”
It seems that in this topic the German government has received so many praises and commendations that you have received during the work.
Some users assume that any operations with cryptocurrencies in Germany are now free from taxes, but the sound and sobering voice:
“Why do you think that Germany will not tax the owners of bitcoin? This is a misconception. In Germany pedantic way to monitor the payment of taxes. Evasion is considered a very big crime. Any benefits the holders of the cryptocurrency will not receive. The Germans do not want to encourage the development of the popularity of cryptocurrency. And, of course, they want to tax what they can’t stop it.”
But the voices of pessimists drowning in a friendly chorus of optimists. All the community tend to perceive the news as positive.
“Germany is a country where huge funds are invested in cryptocurrency. It is therefore not surprising that cryptogenic upheld. I believe that the countries of Eastern, Western and southern Europe will follow Germany’s example. And the sooner the better.”
It seems that the future is near and beautiful digital world is almost upon us? Do not hurry to rejoice. News from Poland set a tone
“The Polish government, through its Ministry of Finance has just destroyed the cryptocurrency in Poland.”
This is the name of another topic on Bitcontrol. Users discuss the initiative of the Polish authorities on regulation of digital currencies, the essence of which boils down to the fact that all cryptocurrencies are recognized as property, and any operations with them are now subject to taxation. Not only those in which the profit in any. Not just purchases a certain number of coins, and each transaction: if the acquisition of the entire amount demanded of a dozen of intermediate transactions for each, you must pay tax.
Some users think that all the governments of the world will eventually come to this. So, cryptologist must resist all attempts to legalize digital currencies.
“I think that all governments intend to do. But first they need to thoroughly study the mechanism of functioning of cryptocurrency, and then set the maximum tax for holders. For this reason, we cannot afford to legalize it now. At the moment there is an urgent need to create a road map that will set the conditions for the use of crypto-currencies without exchange for Fiat money”.
Other commentators believe that the government made a big mistake and will regret it:
“I think that the Polish authorities made a big mistake that you will regret.”
The Polish enthusiasts of the crypto community still hopes for a just decision of the government. Perhaps the clarification and correction, as can be understood from the message of the Ministry of Finance.
Indian participants in the cryptocurrency market were agitated by news from the Central Bank of the country, which encouraged commercial banks to refrain from using digital currencies, and to freeze the accounts of people making cryptocurrency transactions.
Was panicky comments of the discussion participants decided that from now on digital money in India banned:
“In that case do the people who have the cryptocurrency? In India, perhaps millions of people that have it!!! It turns out, the money was wasted?”
But, commentators came to the conclusion that the initiative of the Central Bank does not preclude the circulation of cryptocurrency, but simply introduces restrictions that only slightly more difficult operation with digital money for the citizens:
“As far as I know, RBI has not banned bitcoin, but they are increasingly challenging for cryptocurrency trading. Latest news say only that forbade banks to work with bitcoin”.
“The cryptocurrency market is unstable, it is subject to strong fluctuations, beware to invest last money” – so I warn beginning investors. But with these words I bet Venezuelans, who are increasingly using digital currencies as a means to maintain earnings. If you believe the article referenced the topic on Reddit, inflation in Venezuela is around 8900% per year.
Writes one commenter, it operates in the largest oil companies of this country and his salary is equal to approximately $3 a month(!).
Investing money in bitcoin allows you to save money, feed the family and to secure the finances that are best kept in a safe and stable cryptocurrency. In Venezuela there is an extensive black market for operations with virtual money.
Hot topic – graphics card manufacturer warns that its products are not designed for mining cryptocurrency. Violators risk losing the warranty.
Users believe that the “wrong” use of the device difficult to prove:
“Ha ha, and how will they be able to guess I used the card for mining or not? It’s like a joke.”
And come to the conclusion that the warning is made only to intimidate:
“They just can’t do it, and therefore apply to us the tactics of intimidation”.
The authorities of the American city of Plattsburgh has banned mining of cryptocurrencies. The news comment on Reddit. Users often wonder: what business city managers to determine how people use electricity:
“What’s next? Maybe ban blocks AC? The electric cars? Garden lights? Electric heaters?
I really don’t see the sense to think about the purposes for which used electricity”.
But there are comments and those who consider this a reasonable limitation, because the urban infrastructure is not designed for the increased consumption, and benefits to society miners practically do not bring:
“The city has no infrastructure to work with junction boxes, power lines, substations. Miners do not bring the city much good. They create stable cash flow and the risks and additional costs.”
Users of the Russian section Bitcontrol discuss the development and implementation of the law on cryptocurrencies.
The “law of the crypto currency in any way a good idea. Cryptocurrency is evolving too fast to not pay attention, as long as it brought more good than harm, because it is two sides of the coin: you like to help people and to sponsor you-know-what. Personally, I hope for the further and speedy development.”
“Prior to the deadline established by the President, less and less time remains. And these legislators still nothing really there. Feel to stick some bullshit”.
Expect different, but hope for a fair and modern law is and those and others.
However, the recent blocking of the messenger Telegram, it seems that tips the scales to the side of the pessimists.
“After the situation with Telegram no confidence in our officials there.”
More sophisticated algorithms for calculating the hash, the low rate of the cryptocurrency, the high price and scarcity of the cards, the rising cost of electricity, hardwork of the ether – these are the problems discussed Russian-speaking miners. With the current state of the market, many of them have forgotten about the high profits, but some say the loss.
But the mood in General combat: only units begin to sell the equipment, but the bulk continues to work, hoping to increase the rate and overall improvement of the situation on the market.
International community reacts violently to the latest news related to blockchain technology. Many topics were not included in this review, and in following articles we’ll cover: what ordinary participants of the market speak about banning advertising of ICO and cryptocurrency; about the latest legislative initiatives of the authorities of the United States, China and Japan; market Outlook and future of cryptocurrencies.