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Author Topic: Do you think Bitcoin can ruin a Country?  (Read 25601 times)
Leyss
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March 08, 2018, 09:07:32 AM
 #481

Yes, if bitcoin is adopted in one country as the only currency, it can destroy it, or rather destroy its economy, because bitcoin is very volatile and no economy can stand it. With such volatility, economic planning and implementation of its indicators are simply impossible.
That is why hardly any sensible government wants to use bitcoin as the main and only currency in the country. Bitcoin, like the other crypto currency, can walk in any state only in parallel with national money.

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March 08, 2018, 12:09:17 PM
 #482

Bitcoin can ruin a country?, YES, Bitcoin doesn't have tax if there is no tax collection the country doesn't have fund. That fund is used by the government to manage and operate a country. If there is no tax, the country's government will not be able to manage a country and suddenly the country will be ruined.

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March 08, 2018, 12:41:06 PM
 #483

   If bitcoin will ruine some country then this country is house of cards. Strong state can take control over it, forbid anonimous transactions and tax it. A steady economic is even able to disregard it by keeping people in current lawframe

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March 08, 2018, 05:54:31 PM
 #484

The Japanese government has also spelled out regulations to help prevent misuse of bitcoins and other virtual currencies for terrorism or other illegal activities, including requiring banks and other businesses to verify identities, keep records and report suspicious transactions. The regulations implemented in April require virtual currency traders to keep customers' assets separate from their own, partly because of the losses suffered in the Mt. Gox bankruptcy.

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March 08, 2018, 06:02:49 PM
 #485

Bitcoin will not and cannot ruin one country the government does. In my country there are only few honest officials and the are corrupt so obviously humans are the one that capable of ruining their country. Do you really think that all taxes goes to the benefits of the people/countrymen? The answer would be a no no no because it goes directly into there own pocket. Rich will be richer and poor will ne poorer. Nice one Angry

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March 09, 2018, 08:07:04 AM
 #486

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?
Even taking bitcoin as the main currency of a specific state can ultimately lead to a strong imbalance of the economy due to the large volatility of bitcoin. However, it is unlikely to lead to its destruction. As for bitcoin taxation, it is quite possible and should be done in any country. The current opinion that bitcoin is not taxable is not true. We can see this in the example of Japan, there are no problems with taxation.

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March 11, 2018, 04:45:23 PM
 #487

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?
Even taking bitcoin as the main currency of a specific state can ultimately lead to a strong imbalance of the economy due to the large volatility of bitcoin. However, it is unlikely to lead to its destruction. As for bitcoin taxation, it is quite possible and should be done in any country. The current opinion that bitcoin is not taxable is not true. We can see this in the example of Japan, there are no problems with taxation.
It can destroy the country? How come, when it can never be a currency. One of the reason that some countries are banning bitcoin due to that kind of perspective, that we are hoping that it can replace fiat, when it cannot replace even in the future.

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astrid.uchiha24
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March 11, 2018, 06:40:49 PM
 #488

Bitcoin can ruin a country?, YES, Bitcoin doesn't have tax if there is no tax collection the country doesn't have fund. That fund is used by the government to manage and operate a country. If there is no tax, the country's government will not be able to manage a country and suddenly the country will be ruined.
WHAT??
even if a government doesn't impose tax on profits coming from bitcoin there are a lot sources to collect tax, on a taxation stand point government can miss a lot of funds coming from this industry but without taxing bitcoin could ruin a country? i don't think so.

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March 11, 2018, 06:45:34 PM
 #489

I don't think that bitcoin can be blamed for ruining a country.
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?
Rather than banning or suppressing BTC GOV should have look for a way to control or regulate BTC. That will be better for the future of BTC as well as the countries also. 

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March 11, 2018, 07:06:37 PM
 #490

Bitcoin can ruin a country?, YES, Bitcoin doesn't have tax if there is no tax collection the country doesn't have fund. That fund is used by the government to manage and operate a country. If there is no tax, the country's government will not be able to manage a country and suddenly the country will be ruined.
WHAT??
even if a government doesn't impose tax on profits coming from bitcoin there are a lot sources to collect tax, on a taxation stand point government can miss a lot of funds coming from this industry but without taxing bitcoin could ruin a country? i don't think so.
Absolutely yes, the government will have nothing to do with the bitcoin even, that why some of them banning bitcoin they think that it might be ruining bitcoin to their country and that's impossible happen to bitcoin. Many countries having a different perception of bitcoin that's why some of them opposed to what bitcoin it is.



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March 11, 2018, 10:02:53 PM
 #491

Bitcoin can disrupt an economy including a lot of conventional businesses but to ruin a country i think that's impossible to happen, there are businesses that could fall because of the innovation brought by bitcoin but as long as they adopt to these new system and technology i think they are just fine.

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March 11, 2018, 10:10:26 PM
 #492

No i dont think so bitcoin will ruin a country. There are government who will legalize everything. If cryptocurrencies are treats to a certain country then for sure government will stop all of it. Thats the reason why the government is skeptical and have been observing how cryptocurrencies works. And if cryptos are legalize, taxes will be impose. Paper money will for sure be staying around because there are still countries not familiar with digital world. I mean the people who live in a some of countires who are not familiar with internet.
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March 12, 2018, 09:54:16 AM
 #493

Well, I just thought, if bitcoin becomes a currency of one Country, maybe it can destroy that country? Think of it, Bitcoins do not have a tax, and tax is 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?
Yes, of course, Bitcoin will ruin a country. If Bitcoin has been legalized but not taxed in that country, Bitcoin certainly will ruin the country. But if it is legalized and taxed, Bitcoin will help the country better.

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March 12, 2018, 04:54:27 PM
 #494

I think bitcoin will not break the order of a country, instead bitcoin will bring a change in a country, because with bitcoin we can make payments between countries so quickly and safely. And bitcoin will bring social and economic change to society, as it will increase employment. for example in the Bounty field.

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March 15, 2018, 01:36:37 PM
 #495

Bitcoin isn't about ruining smth. Bitcoin is more about giving new opportunities to people which can let them be independent, self-confident. And, of course, it provides all of us with the chance to have a better future
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March 15, 2018, 05:03:41 PM
 #496

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?
I think that the statement that bitcoin can not be taxed is wrong. An example of this can be called Japan, where they introduced a profit tax from the crypto currency and everything works fine, the country makes a profit, the population becomes richer due to the presence of a crypto currency. Bitcoin is difficult to regulate and monitor the fulfillment of certain rules by citizens and the payment of taxes. It's right. However, taxation is primarily designed for the voluntary payment of taxes.
Therefore, if you look at the problem of paying taxes on profits from crypto currency, bitcoin can not cause significant harm to the state.

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March 15, 2018, 06:09:03 PM
 #497

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?
There is only one that can ruin a county and that is corruption and if bitcoin becomes a source of a corrupt personalities no doubt that it can also be part of destroyer of a country.

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March 15, 2018, 10:07:46 PM
 #498

It can harm a country economy and its national income if it will be a currency of any country. It is because it is decentralized currency and it is difficult to apply tax on it. This is one of the major reasons why government of some countries is in confusion on its legalization status.

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March 16, 2018, 02:55:43 AM
 #499

Hahaha. You have some points on that my friend. If bitcoin will rule one country then the country could be destroy. Absolutely it will if if referring to tax of everybody. Tax is meaningful to country's improvement of infrastructure, buildings, educational programs, and more projects of one country. Okey, we see tax as a fuel to engage one country to all the needs of everybody just to meet the needs tax is a must.
But bitcoin can some up all. If the government let the system of bitcoin role them and they upgrade the mindset of everyone clearly. Then I think tax is applicable and more possible good things to improve. It is all base on how the government form the system, and how to implement.

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March 16, 2018, 04:22:14 AM
 #500

Hahaha. You have some points on that my friend. If bitcoin will rule one country then the country could be destroy. Absolutely it will if if referring to tax of everybody. Tax is meaningful to country's improvement of infrastructure, buildings, educational programs, and more projects of one country. Okey, we see tax as a fuel to engage one country to all the needs of everybody just to meet the needs tax is a must.
But bitcoin can some up all. If the government let the system of bitcoin role them and they upgrade the mindset of everyone clearly. Then I think tax is applicable and more possible good things to improve. It is all base on how the government form the system, and how to implement.
What are you trying to say? Op were asking if bitcoin can ruin a country which I doubt, when in fact it helps the country a lot. Why? Think of it one country would have the chance to grow their economy due to people who once jobless now have the chance to do a job even not in company, so not all people which we think jobless was really a jobless some are here, some were doing trading.
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