Do you think Bitcoin can ruin a Country?

[legendbtc]

Even in our country they are collection trillion and trillions money are collecting through taxes. But government are not even paying any benefits to people who don't have job, they are not encouraging people to learn about this new technology like bitcoin. Government are not supporting bitcoin because if they support they won't get any taxes from the people. Once government are not accepting means how can bitcoin ruin the country not at all possible.

[1713551984]

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[1713551984]

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[FaucetKING]

Yes, For Me , I Think that  Bitcoin Can Destroy Countries !

[darkangel11]

Even in our country they are collection trillion and trillions money are collecting through taxes. But government are not even paying any benefits to people who don't have job

Don't know where you're from, but in Europe they do. Especially if you've recently lost a job. Most countries also pay health insurance for the unemployed.

Bitcoin can't ruin a country, because a country is not its governments with its budget cuts and debts, but the people. It can ruin the politics, but it won't make people suddenly become homeless and jobless. The market has its own ways of correcting things and people can be paid with any currency.

[mkmdoc]

Yes, For Me , I Think that  Bitcoin Can Destroy Countries !

I think bitcoin won't destroy countries because it is being used by many people from different parts of the world. Many people are really fed up with these fiat currency taxes by the government so people need change in the form of earning. Bitcoin cannot ruin the world but it can change of economic situation of the countries.

[DarkIT]

Of course. for bitcoin still has value, especially bitcoin has a high enough value, I believe, with bitcoin, a government can establish a state. Well, although the country also need the currency, but bitcoin can be useful as an alternative currency, and it is suitable for use in a new country, because bitcoin is international.

[BitcoinGirl.Club]

Yes, For Me , I Think that  Bitcoin Can Destroy Countries !

I think so too because if a country can't collect money from the tax system it loses out on revenue and the economy just might collapse and for this reason bitcoin can't run independently as people just might invade paying tax.

[machinek20]

Bitcoin is helping the citizen to earn a better life and more efficient way to do transaction, it is possible that a country can ruin a country, if all of the citizen using bitcoin and dont pay any tax and then the citizen used bitcoin for buying illegal things, but I think bitcoin got more positive side than the negative side

[btcdiggingmaster]

Bitcoin is helping the citizen to earn a better life and more efficient way to do transaction, it is possible that a country can ruin a country, if all of the citizen using bitcoin and dont pay any tax and then the citizen used bitcoin for buying illegal things, but I think bitcoin got more positive side than the negative side

In order to ruin the country every citizen must pay taxes to government for using the bitcoin, because once people are paying taxes to the government. Even government will start suggesting their citizen to use bitcoins as their payment option. Yes bitcoin has more positive side that's why government are not banning the bitcoin till now.

[dondexter]

I don't see how a country can be ruined, as long as they take the necessary legal steps to regulate it?

[Yusuf77]

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 the state unless the bitcoin misused by a country. because in its use bitcoin has many benefits. but it is regrettable in my country have not been legalized bitcoin

[youdacapt]

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 the state unless the bitcoin misused by a country. because in its use bitcoin has many benefits. but it is regrettable in my country have not been legalized bitcoin

Countries may completely ban people uses bitcoin by issuing laws on finance, but I believe any country would not dare to stop bitcoin appeasement, because it has a huge potential in financial industry. Third world countries can only supervise circulation and continue to pay attention to news from developed countries. If group of developed countries have proven to regulate bitcoin, they would have come to follow.

Bitcoin has potential for ruining the state finances, but before that happens, they already will adopt it in their financial regulation.

[TastyChillySauce00]

Yes, For Me , I Think that  Bitcoin Can Destroy Countries !

I think so too because if a country can't collect money from the tax system it loses out on revenue and the economy just might collapse and for this reason bitcoin can't run independently as people just might invade paying tax.

Just if the government could make a right regulation then it won't be destroyed. blockchain is actually really transparent because it will keep every transaction which people have done and will never delete it.
I could say that it's far more transparent than the local currencies ever existed (cash).
There's still possibilities that the people will find some way to hide their footstep, though. Means the government will be forced to give additional efforts regarding this matter.

[Investforprofit]

I really dont think that because probavly later we will all pay fee on bitcoin transactions and countries wil get profit from that and also many pupil will become rirch what will help to every country.

[Sniper150]

i dont think so because bitcoin don't pay taxes, we all know that taxes is for government  used so there is no big possibility to ruin our country , besides , it can help bitcoin users to invest money .

[thend1949]

i dont think so because bitcoin don't pay taxes, we all know that taxes is for government  used so there is no big possibility to ruin our country , besides , it can help bitcoin users to invest money .

They can't get taxes in bitcoin unless they will regulate bitcoin in their country. Like in the Philippines, They regulate it and I have a news that they will add some taxes in exchangers of bitcoin.
It is like money, if the bitcoin user is a bad people. They can ruin a country if they use bitcoin in illegal things. But As Long as the user of bitcoin is good person, they can't ruin a country, they will not ruin a country.

[1.btcwonder]

Yes, for me, I Believe that Bitcoin Can Destroy a country. I suspect as much excessively in light of the fact that if a country can't gather cash from the tax it misses out on the raven. Besides this Bitcoin is also providing opportunities to people to invest and trade.

[olubams]

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?

Yes bitcoin can ruin and add to the woes of a country if its not used wisely or controlled, if not, I am sure majority of the countries which bitcoin has established a presence would have legalised the currency but they are concerned about not the positive of bitcoin but the negativity it brings along which is the anonymity that can be relied upon to perpetuate money laundering which could mean loss of huge revenue to government..

[nu11p7r]

For those thinking about this question. I would suggest reading some background on the people, movements, and intellectual ideas that helped to inspire the invention of bitcoin.

For example this quote:

"Some of us believe various forms of strong cryptography will cause the power of the state to decline, perhaps even collapse fairly abruptly. We believe the expansion into cyberspace, with secure communications, digital money, anonymity and pseudonymity, and other crypto-mediated interactions, will profoundly change the nature of economies and social interactions.

Governments will have a hard time collecting taxes, regulating the behavior of individuals and corporations (small ones at least), and generally coercing folks when it can't even tell what _continent_ folks are on!"  Timothy C May.

https://www.activism.net/cypherpunk/crypto-anarchy.html

https://en.wikipedia.org/wiki/Crypto-anarchism
https://en.wikipedia.org/wiki/Cypherpunk

Part of the idea inside bitcoin's invention is specifically to reduce the power of the nation-state. The genesis block message makes that very clear.

The original poster is probably mis-informed about what most taxes fund, when you remove the fraction of government spending that is actually mostly redistribution in nature, and focus on true spending associated with "action", it mostly is not about make a "good country". Widespread adoption of private digital money would specifically help eliminate gov effectiveness in collecting income, payroll, and capital/investment type taxes but the other more "natural" taxes such as tariffs, property taxes, and tolls can still be obviously collected. Those more natural taxes are what tend  to make a country a "good one", such as schools, parks, roads, infrastructure. The other modern un-natural taxes along combined with the symbiotic connection to fiat central bank issued currencies are what is used to wage war and create destruction and death. 

So yes. If you think ruining a Country would be the fall of nation states, then yes Bitcoin can ruin a Country. If you think building a more peaceful and prosperous world with smaller less violent and dangerous nations, then no, bitcoin won't ruin a country, it will probably eventually make it better, its just to get to the other side, we might have a really bumpy ride. So buckle up.

[Workation Russia]

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?

Definitely it's not possible in the nearest future. It's very difficult to control Bitcoin therefore the government will not allow it to become dominant currency.

[btcdiggingmaster]

i dont think so because bitcoin don't pay taxes, we all know that taxes is for government  used so there is no big possibility to ruin our country , besides , it can help bitcoin users to invest money .

Yes, bitcoin cannot ruin the countries because regulation is one of the important factors because many politicians are thinking that bitcoin is a pyramid scheme and even some people are not supporting bitcoin, so governments will take all consideration from people and how far bitcoin can be profitable to the governments. Let's wait and see.