Do you think Bitcoin can ruin a Country?

[DrYe5]

I do not think that Bitcoin can ruin a country but instead, it will develop the economy of the country. It is obvious that Bitcoin is a way people make exchanges and it depends on how it is used.

Like you I only see possibilities for advantages in economy for the country in future, goverments just need to find a way how to create the law for the coins to take something from it, it could be even more simple than we could speculate.

[dark1234]

I do not think that Bitcoin can ruin a country but instead, it will develop the economy of the country. It is obvious that Bitcoin is a way people make exchanges and it depends on how it is used.

Like you I only see possibilities for advantages in economy for the country in future, goverments just need to find a way how to create the law for the coins to take something from it, it could be even more simple than we could speculate.

until now there is no bad speculation that is caused for countries that have legalized bitcoin and crypto both economically and socially, it's just that the government must provide laws governing bitcoin transactions

[cryptocity90]

It is obvious that Bitcoin is a way people make exchanges and it depends on how it is used.Today bitcoin has provided many facilities like trading, altcoin, online shopping, online recharge etc bitcoin has become created user friendly in between us.

[Dhanjit25]

No. I don't think so . Not necessarily . In order to become a  currency bitcoin has to go under the terms with the government . And as soon as it happens bitcoin will be run partially or completely by the government through the regulations. So the final conclusion is bitcoin cannot ruin a country.

[Umkar]

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 never become the only currency of one country. This will not allow any state. Bitcoin can only walk in parallel with the national money of the state and in this capacity it will be safe for national money and for the state as a whole. Almost all national money is tightly tied to the economy of their states, they are a reflection of the state of the economy of a particular state. Decentralized crypto currency does not have such qualities and therefore is not capable of replacing conventional national money.

[Blueshark696]

The value of Bitcoins is constantly fluctuating according to demand. As of June 2nd 2011, one Bitcoins was valued at $9.9 on a popular bitcoin exchange site. It was valued to be less than $1 just 6 months ago. This constant fluctuation will cause Bitcoin accepting sites to continually change prices. It will also cause a lot of confusion if a refund for a product is being made. For example, if a t shirt was initially bought for 1.5 BTC, and returned a week later, should 1.5 BTC be returned, even though the valuation has gone up, or should the new amount (calculated according to current valuation) be sent? Which currency should BTC tied to when comparing valuation? These are still important questions.

[KorakPawon]

What will happen to you if you have no income in your life? I think that the country will experience the same thing if the state does not impose taxes, it is clear that the state will be chaotic. The development will stall all things will be disturbed. It will not work.

[coldplay3r30]

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?

Obviously I disagree with your opinion, bitcoin is only a currency or a digital payment tool, how can the owner be taxed unless you do a business buying and selling goods and you pay using bitcoin then you will be subject to taxes but income tax and entry tax In a country

I think that state revenue is not only from business taxes, but from property taxes and other taxes that are very large, so the state will not go bankrupt if using bitcoin is an alternative to their currency.

[Girlsbit]

Bitcoin will not destroy the country.  It was created so that people could earn money.

[Kris34]

How can bitcoin destroy the country. This is the only existing currency that can change the economic system in the world.

[pollyg]

No. I don't think so . Not necessarily . In order to become a  currency bitcoin has to go under the terms with the government . And as soon as it happens bitcoin will be run partially or completely by the government through the regulations. So the final conclusion is bitcoin cannot ruin a country.

I don't fully agree with you. If all the citizens of one country would adopt BTC it would become a primary means of payment and I don't see how the government could stop or influence that. But I share your opinion about BTC ruining a country. It cannot!

[kerremy]

Well, now bitcoin has been bound to the rules of tax liability regardless of the medium of money used. and that has denied the opinion that bitcoin can ruin a Country. because just like other financial instruments, Bitcoin can also have taxes.

[romarry]

Of course not. Bitcoin will not ruin a Country. Even bitcoin can benefit the country because, today, bitcoin can be taxed. Of course, this will benefit the country that legalized it.

[Firefox07]

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 bitcoin become a currency of one country. Ofcourse that country will make a law that can tax bitcoin. So i don't think bitcoin can really ruin a country.

[zabizana]

On the contrary, Bitcoin can help countries increase tax revenues, because I think the government can collect taxes in bitcoin.

[jhutsegie]

Bitcoin can't ruin one's country. People who were involved in btc can make a country good. Because bitcoin gives great opportunity and can change one's life, by that, they have been change also their status and life. They can invest in some companies. Operate own business. Well, if that happens it will contribute to the tax of a country.

[Rustamm]

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 or any other decentralized crypto currency can not be the main currency of any state. The state will by no means allow this, since this will contradict the interests of the economy of this state and will harm it. The state can allow the circulation of decentralized crypto currency in its territory, but it will not itself encourage its circulation. It can create and maintain only its centralized national currency.

[finlandais]

Well according to me no,bitcoin cannot ruin a country if used properly and in legal manner.It thing it will contribute alot in the economy.People who believes that it will spoil our economy are totally whole.It is the way how we handle it that matters.But many country think that it will disturb the cycle of their ecomony which i personally believe is not true.We should understand the positive aspects of bitcoin and them give our view on it.

[SundanceKid76]

Hey !¨

I live in Norway and we are pretty powerfull when it comes to money and economics.

I would love to only start using btc as payment.

Do you guys think this will every happend?

Does the goverment have to start regulate btc before that happends?

[Kris34]

Bitcoin country can not be destroyed, because it is beyond his power.  He can change the economy, improve or worsen it, but not destroy it.