Japan may tax bitcoin deals, stop banks, brokerages from handling

Comments (11)
boonteetan wrote:

A rare yet necessary and smart move by Japan. This could be the way to curb growing threat from cyber currency. (vzc1943)

Mar 05, 2014 1:07am EST  --  Report as abuse
scoobiouso wrote:

growing threat from cyber currency? could you expand, genuinely interested…

Mar 05, 2014 4:37am EST  --  Report as abuse
don77 wrote:

To regulate any digital coins, you need a master node and checkpoints that will insure all node is compliance to master node.

Mar 05, 2014 5:20am EST  --  Report as abuse

Cyber currency’s ONLY purposes are to avoid taxes and tracing, to launder DRUG, sex-slavery money. Good for Japan.

Mar 05, 2014 10:22am EST  --  Report as abuse
SyntaxErr wrote:

yurgonetmyshet you havent got a clue. “Cryptocurrency” only purpose is not for illegal activities. That is beyond ignorant. It’s a currency, any currency dollars, yen whatever, can be used to fund terrorists drug purchases just as easily and anonymously as using bitcoins or other cyrpto currencies. And what threat is cyber currency might I add? Sounds like you work for a bank.

Mar 05, 2014 3:57pm EST  --  Report as abuse
Dr_Steve wrote:

Surprised it’s taken this long.

Mar 05, 2014 4:08pm EST  --  Report as abuse
Burns0011 wrote:

Bitcoin does not need to be taxed directly, and should not be taxed directly.

Where taxation is possible will be at the exchanges, when Bitcoin is converted to government-backed currency. And at that point, it should be treated like selling any other commodity; you pay taxes only on the difference between your initial investment and your final profit if any.

Mar 05, 2014 5:05pm EST  --  Report as abuse
gregbrew56 wrote:

Burns0011…Agreed. Bitcoins are a speculative commodity whose price is set directly by supply/demand, and nothing else. Capitalism at its purest.

Mar 05, 2014 5:25pm EST  --  Report as abuse
Tiu wrote:

May as well put the tax payers on the hook for that one too!

Mar 05, 2014 5:39pm EST  --  Report as abuse
kea808 wrote:

Japan to Bitcoin world, do what you want just give us our cut.

Mar 05, 2014 6:50pm EST  --  Report as abuse
yellowjap wrote:

BitCoin or coin or money is differed contract token to be filled. So, BitCoin making process is more close to personal check. Point I don’t get is check is to be cashed cheaper without stronger backwriting. No matter how limited number is… This is similar case when German bonds got higher when some other EU bonds are low.
So, personal checks now have more value than governments in some case. BitCoin can have premium when it promise goods or services. So restaurant and cafe’s are most welcome to issue theirs you have limited number of tables for a lunch or dinner.
But don’t use it without round-robin style table or formula, that’s only way you can detect duplicate. Track with original to bring 2+ holding same ticket seat.
Current DARPA based TCP/IP is designed not to break with missing link. Not thinking enemy device in link. So, all UNIX based API (Windows, Google, iOS) offer no certify API. Certify Interface is already implemented but is Cisco routers and network equipment. It’s implemented after seeing too many mobiles claiming same number to bill. So, you better ask API for checking constancy of transaction sequence API to W3C offering API with ticket (receipt long string which identify transaction when report police) before closing SSL should be fine starting. We invented RSA to skip this issue on SSL development, right?
Things will get messy, I’m expecting airline ticket should be good chance. Real green and plastic money have long history of duplicating, mixed up, and lost in JFK and LHR. I don’t know but always disappear in these 2 when clear real bank’s international clearance. This time, you better implement API or notes will lose trust. You better show clear hands. It have more priorities than try keeping job, you intentionally left hole, but hole is too old and too dangerous to leave, now. It’s time to separate standard tracked internet and experimental little risky traditional network.
It will kill most security companies and network device companies. But you have very little to call, today. MS, FSF, Google and Apple that’s it. Make phone companies call starting 5G we need FULL Internet option showing next direct connection and token identify that transaction later.
OpenSSL project had to be outside of US. Because MD5 hash code was non-exportable from US. Same thing you are doing with gene code. And production is in China to skip trouble from US. All airlines have to buy Jeppesen aviation map. Wake up US. You are losing trying to protect interest in the name of security, too often.
Try to close hole straight stop plugging with something strange so you can tap or trap. Things start get moving too fast and hole is under everything on the net. You got more benefit on notifying nodes than strange tap & monitor. Attack target is more on network equipment and devices as ready cultural base waiting malware trigger.

Mar 06, 2014 12:29am EST  --  Report as abuse
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