Do you think Bitcoin can ruin a Country?

[Limar0]

If bitcoin is used inappropriately, then there's a chance that it can ruin one's country.Like perhaps using it to buy powerful weapons to be use by criminals or drug trafficking.It's the role of everybody to protect one's country so when doing transactions, it is best to please Know-Your-Customer very well.

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[reality18]

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 can never ruin a country in anyway. Just imagine a country with its government involved in Bitcoin, such country will rather have enough revenue to cater for the development of the country instead of relying solely of tax. Anyway, bitcoin users are indirectly taxed whenever the is a conversion from Bitcoin to fiat (unknowingly through several means).

[Lang09]

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 can certainly be used in a damaging way. It can be used to avoid taxes, as you've said, but most are concerned about money laundering and currency outflows. If done on a large enough scale, it can potentially do long term damage to an economy.

[Blondy12]

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?

If the bitcoin will become a currency in a country then definitely the government will do something about it like implementing taxation on every transactions or else they will make bitcoin illegal to use. So how come it can ruin a country? Right now, we could enjoy the benefits of using tax free bitcoins since it is not yet the center of all currency only in cryptocurrency world. Why would think too much for the future and why not just grab and enjoy the opportunity we got from being a bitcoiner at the present?

[Kinan07]

Crypto currency may pose a risk to the financial stability of state banks, if adopted on a wide scale. Basically Bitcoin is not risky because the scheme of its use is still small, but it can change if Bitcoin grows significantly.

[Pattart]

I do not think bitcoin will destroy a country, but it gives people a chance to invest and trade, so bitcoin can be a good tool for improving the status of an economically viable country although not legally acceptable.

It cannot destroy it, some banks and the government are just over reacting that bitcoin can ruin the country when in fact crytorcurrency plays a big role in our life right now that it can actually change everything, the lifestyle of people, helping them to have a better income and financial freedom.

I think what the government says is true. government doing excess by banning bitcoin? I think that's the right thing from their side. because of the dangerous bitcoin potential? what if bitcoin is misused by a particular person? by doing massive corruption on government funds and then storing it in bitcoin so as not to be seen. surely the government will lose money because of it?

[muneeb.zain]

No bicoin does not ruin any country.The bitcoin is also a certain type of currency.And i dont think so at any currency can harm any country

[Mhd-Bobbi]

in my opinion, bitcoin is a very attractive currency to use, they can all make payments using bitcoin, I am very interested, it will not damage the country, because bitcoin currency is only done as a medium of exchange, because it also includes work, it can be done every day.

[Thian778]

People who uses Bitcoin to do evil, crime and other negatives thing inside a country will cause it ruins not the Bitcoin itself, like when they buy or sell weapons to destroy a certain place or to kill people, do human trafficking with Bitcoin as payments, and many more...

[MAsterCoiner]

No, Bitcoin and any other cryptocurrencies won,t ruin any country. It helps develop the country. Regarding tax issue, the government can tax bitcoin holders and collect tax in bitcoins and that taxed bitcoins for government expenses. So there is no problem. 

[CryptoMoar]

In my opinion. it could be bitcoin into the currency of a country. but for taxes generated from the income of every people will surely be enforced. and taxes can also be taken from vehicles owned by every people. so it is highly unlikely that a country does not impose a tax on its people.

[spikerrr]

Bitcoin can't ruin the country. It was made not to ruin but to build or rebuild the country. Bitcoin purpose of it's creation is to help and not to ruin live or the country. Even though no tax the citizens can Stand without bitcoin. Bitcoin can build the good life style of the family.

[tambok]

Bitcoin can't ruin the country. It was made not to ruin but to build or rebuild the country. Bitcoin purpose of it's creation is to help and not to ruin live or the country. Even though no tax the citizens can Stand without bitcoin. Bitcoin can build the good life style of the family.

Exactly! It is really making a name in the world but that does not mean that it ruin a certain country since it helps a lot of individual and businesses in their job, so it is not really not ruining a country, it has been an instrument that has given to everybody for them to change their perspective in life.

[El Il-mythos]

For me it is very easy to deal with this kind of issue.

If bitcoin becomes the currency of a country it will not happen without tax because there is no such event. And if being decentralized will be the reason why bitcoin can cause problem to a country because of being decentralized,  this is not hard to solve
because the government of a country has the ability to control the crypto exchanges that exist on their place.

[SectorZero]

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 is not going to ruin a country, bitcoin is providing opportunities to its people for investment and trading, so bitcoin can be a good tool to increase the status of a country economically. i think if government take  serious step about bitcoin and regularize  then they can also impose tax on it and will certainly collect good tax from  bitcoin.

Yes, I completely Agree.
The bitcoin will become that mechanism which will be able to resolve an issue of corruption, bureaucracies. Will be able to help to realize startups in the countries where it was impossible.In General, this technology will turn the whole world. It is only necessary to wait.

[vessing]

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 is not going to ruin a country, bitcoin is providing opportunities to its people for investment and trading, so bitcoin can be a good tool to increase the status of a country economically. i think if government take  serious step about bitcoin and regularize  then they can also impose tax on it and will certainly collect good tax from  bitcoin.

Yes, I completely Agree.
The bitcoin will become that mechanism which will be able to resolve an issue of corruption, bureaucracies. Will be able to help to realize startups in the countries where it was impossible.In General, this technology will turn the whole world. It is only necessary to wait.

The state, with all its will, can not fully meet the needs of every citizen.This problem is designed to solve the blockade. Dlock system makes the financial system more efficient and eliminates bureaucracy

[Farahtenan]

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 Bitcoin will not damage a country. Instead, Bitcoin will instead help countries that legalize it has a better life. Moreover, if a country legalizes Bitcoin it is certain Bitcoin will be taxed in that country and Bitcoin will help to meet the needs of the country for the better.

[Slipknot79]

In my opinion Bitcoin can ruin a country or boost it's economy. The more trade that takes place the higher the currency will increase. In terms of ruining a country if all stores decide to trade their items for bitcoin.

[jonaire99]

Bitcoin is virtual currency created as a payment system which is used mostly in online transaction. With its high volatility and rapid price fluctuation, a bitcoin can make an investor became richer or poorer. If bitcoin will be adopted in a country's monetary system, its volatility will be the number one concern of the monetary officials and the people who will use it.

[QuickS22]

Bitcoin will never become a national currency. Accordingly, he will not be able to ruin the country. I think it is more useful for ordinary people.