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Author Topic: Do you think Bitcoin can ruin a Country?  (Read 22492 times)
Flor1982
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November 08, 2017, 05:44:11 AM
 #301

Well, i just thought, if bitcoin become a currency of one Country, maybe it can destroy that country? Think of it, Bitcoins do not have a tax, and tax are used by the government to make that country a good one, without tax, what will be used to spend and make that country a good one?

What do you think?

Fiat currency can build and can destroy a country in which the same with bitcoin currency. Bitcoin can help the country to become progressive but still it can destroy too if it will use in illegal activities such as smugling, drugs, guns and explosives by the bad people therefore in order that bitcoin will not be use in these illegal purpose it is better to regulate it prior legalizing it to ensure that bitcoin can serve in good purpose.

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Sikkan666
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November 08, 2017, 06:46:33 AM
 #302

Bitcoin will certainly not destroy or ruin a country. FIAT is and will always have the bigger impact on world economy and there will be ways of regulations in the future IF bitcoin becomes mainstream. At least thats what I think.
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November 08, 2017, 07:06:39 AM
 #303

I think it's all depend our mentality because we should try to use Bitcoin only for legal work i mean legal sector than never can Bitcoin ruin a country i think.But some people used Bitcoin in illegal sector that is big problem.

Irvinn
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November 08, 2017, 08:25:47 PM
 #304

Bitcoin can not so negatively affect any state, in the end, to destroy it. The state has a lot of leverage to prevent this, even if it were possible. In general, bitcoin should only contribute to the growth of the state's economy and the effectiveness of governance in the state in the case of using the advanced technology of the detachment on which bitcoin is based. I think that most states will not have conflicts with bitcoin and these relations will be optimized for joint cooperation.

samcrypto
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November 08, 2017, 11:34:59 PM
 #305

I don't think so because bitcoin is here for a better system and better technology in fact bitcoin will help 3rd world country to become more productive economically and help poor people to earn money thru bitcoin and its technology.

crzy
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November 08, 2017, 11:40:26 PM
 #306

I don't think so because bitcoin is here for a better system and better technology in fact bitcoin will help 3rd world country to become more productive economically and help poor people to earn money thru bitcoin and its technology.

That's true bitcoin will surely help your country to improve specially when you support this technology but if you do not you will surely left behind since this defines our future. Bitcoin is really powerful yeah if you don't support this system you country might suffer economically since many big countries are now supporting bitcoin technology.

Balderon
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November 08, 2017, 11:52:07 PM
 #307

How could it destroy a country if they decide to use bitcoin as their official currency? You don't have to pay tax on the payment method, you have to pay tax if you have earned money or made a profit. The only difference to bitcoin is that it can be used anonymous and that animates to avoid tax payments. But you have also to consider that as long as you have to pay most of your living expenses in fiat money you hardly can avoid tax payments as your bank stores and reports all your transactions.

Flor1982
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November 09, 2017, 03:21:08 AM
 #308

Well, i just thought, if bitcoin become a currency of one Country, maybe it can destroy that country? Think of it, Bitcoins do not have a tax, and tax are used by the government to make that country a good one, without tax, what will be used to spend and make that country a good one?

What do you think?

A certain nation can be help to be more progressive by the bitcoin but in the same time it can be to destroy as well if the bitcoin will be use in illegal activies by the bad elements such as smuggling drugs, weapon and explosives. In order to avoid this to happen, the people should need to support the regulation so that every transactions can be safely monitored and trace.

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Klausi
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November 09, 2017, 10:18:42 AM
 #309

Well, i just thought, if bitcoin become a currency of one Country, maybe it can destroy that country? Think of it, Bitcoins do not have a tax, and tax are used by the government to make that country a good one, without tax, what will be used to spend and make that country a good one?

What do you think?


Bitcoin will help the country to become more progressive, more prosperity and strong by improving the country's economy. Reducing the unemployment will be a great factor in which bitcoin will give the unemployed the opportunity to earned and become stable in life and also if more people are earning the purchasing power of the masses will increase resulting for the economy to grow because many people now can afford to buy things specially their own products. In addition, government can now collect more taxes for the better good of their country especially if bitcoin is regulated. Regulating will make sure the country will not be ruin because of bitcoin.

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Aljay7
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November 09, 2017, 09:50:30 PM
 #310

Well, i just thought, if bitcoin become a currency of one Country, maybe it can destroy that country? Think of it, Bitcoins do not have a tax, and tax are used by the government to make that country a good one, without tax, what will be used to spend and make that country a good one?

What do you think?
Maybe your right or maybe your wrong,try to think about it,the biggest problem in every country is the financial problem,and bitcoin help other people to earn money in bitcoin,and some people are facing their financial problem because its hard to find a job,what if,that those people who are facing financial problem are joining bitcoin,maybe they are trying their best to earn money and here in bitcoin its easy to earn money,it means there are 60% that bitcoin CANNOT ruin a country but bitcoin is helping some country to raise.

TheKeyLongThumbI
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November 10, 2017, 07:23:56 AM
 #311

Yes but in a different way that I see. It can help countries financially but I know there will some greedy persons that wants to get more of it so it could lead to major hacking and lots of illegal drug trade and money laundering using btc.

Cherylstar86
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November 10, 2017, 12:12:59 PM
 #312

Yes but in a different way that I see. It can help countries financially but I know there will some greedy persons that wants to get more of it so it could lead to major hacking and lots of illegal drug trade and money laundering using btc.

Well its worst as you have expect to negative scenarios mate, lets just say its prone to be corrupted by goverment leaders if there will be regulations of bitcoin. But if it will be used to profit charitable institutions and people who had bitcoins investments will not be greedy of his/her wealth, then the country will not be ruined; it will improve its economy.

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christian07
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November 11, 2017, 08:34:51 AM
 #313

Well, i just thought, if bitcoin become a currency of one Country, maybe it can destroy that country? Think of it, Bitcoins do not have a tax, and tax are used by the government to make that country a good one, without tax, what will be used to spend and make that country a good one?

What do you think?
No i think because even bitcoin have big value they can't ruin a country because there's a real money in any country so bitcoin is just a kinds of money.I think we can see a lot of scammer here but to ruin a country that's unbelievable because if they use this as a money to destroy some country or government in country i think all of person in government already rich so they can't handle bitcoin because of that

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November 11, 2017, 04:14:56 PM
 #314

Because of it`s encrypted nature, bitcoin and other cryptocurrencies causes a lot of problems in form of transactions tracking and taxation. For the moment cryptocurrencies holds quite tiny share in econimic relations, but in the coming years we can expect deeper btc penetration into all sectors of society. It will be a matter of country`s survival how to develop taxation plan and strategy for cryptocurrency taxation to avoid institutions disruptions.

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Nick Abimanyu
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November 12, 2017, 03:28:01 AM
 #315

If our country doesn`t collect taxes, we will be more damaged even (sorry) for never obey tax. Of course the wheels of government can`t run in accordance with its function, development will never happen, and welfare is far from wishful thinking.
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November 12, 2017, 03:42:28 AM
 #316

If it were a currency in a country right now it would be ruined.

Now I know what Venezula with their boliar money is feeling like when they lose more than 35% of it's worth in less than a month.

All because of an oppose currency that wants to over rule their own currency.
Named BitcoinCash. Roll Eyes

RedX
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November 12, 2017, 06:34:20 AM
 #317

Well, i just thought, if bitcoin become a currency of one Country, maybe it can destroy that country? Think of it, Bitcoins do not have a tax, and tax are used by the government to make that country a good one, without tax, what will be used to spend and make that country a good one?

What do you think?


You are worrying about the tax? Because here in our country, the taxes that is collected by the government doesn't really go to useful projects but go to corrupt officials instead. Bitcoin will remove the old ugly way so it will not ruin a country.

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November 13, 2017, 09:56:44 AM
 #318

yes it can destroy a country especially when used by the wrong hands, bitcoin is a very versatile currency meaning it can fluctuate endlessly in only one day, imagine a country that only used bitcoin as their main currency and bitcoin decided to skyrocket its value downward it will be an instant fall of economy.

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November 13, 2017, 03:53:34 PM
 #319

i dont think so that bitcoin can ruin a country, bitcoin for me is a big chance and opportunity to the people who want to have a better life. i think on tne third generation the vertual world become very popular so on that time maybe bitcoin are legalize.

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November 15, 2017, 07:28:19 AM
 #320


Bitcoin is not a country that is destroyed. It can help protect the country economically from destruction. At present, Bitcoin is considered economically the asset of the country.
Economic status can be a good way to increase.

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