Do you think Bitcoin can ruin a Country?

[bailey01]

It may ruin. Or it will not. But most probably there are many chances of getting things bad or worst with crypto currency only IF and only if it becomes currency of an individual country. Crypto currency should be global

[Streamlink]

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?

Based on what I have learnt in life, bitcoin cannot ruin the nation. It is the citizen of the nation that can ruin that nation. Bitcoin is only an external issue and can be treated as such, the internal affairs matter much than a coin ruining it.

[sdas90]

I think impossible because bitcoin is a digital currency or online currency it is not control by bank or government that's why government can not earn any tax or vat .Taxes are applied somewhere but not everywhere .But bitcoin cannot ruin the particular countries.

[entrepmind23]

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'm sure the government can find a way in taxing its citizens through bitcoin. All the businesses would be regulated so the government would just tax those business establishments and then the tax would be turn over to its customers by the business owners so the government can still have a share of the transactions. I don't think bitcoin can ruin a country and in fact it can help in reducing some expenses because the central bank don't need to print money any more so it would be a savings to the government.

Making bitcoin currency can happen but I think it would take a long time because the government should solve first the problem with technology and internet connection which are the basic tools in transacting through bitcoin. There are some places that doesn't have electricity yet so it would be hard to implement something that would not be followed by every one.

[Kingofbitcoin12345]

I don't see the logic to it,, if the country will adapt and make bitcoin as they're own currency,, do you think they will not implement a tax collection system?.. Before doing that the government will study it first make an open forum,, voting for a law and the leader will eventually signed to approved.. The government will not make a law without gaining something to it for that country's development and infrastructures..

[Ronni]

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?

Of course. It can ruin a whole country because it can be a reason of treason and many corruptions.
We all know that bitcoin has an equivalent value, just like money, it can be a root of anger and envy.
And when the whole country is battling for bitcoins, it can cause a war and later on ruin it.

[GreenBits]

I dont know if bitcoin can cause a war (it doesnt have a state backing, hence it doesnt have a war machine) but it could certainly undermine the economy of any government that has issued a fiat. bitcoin makes it really easy to conceal value from a government, move that value, and avoid taxation of that value. on top of that, bitcoin can facilitate capital flight outside borders, something anathema to governments with tight capital controls (china) and govs that cant afford to lose value out of bounds.


bitcoin, at its worse, is a tool to subvert capital controls completely. of course no sane, self sustaining government can support that.

[Lieldoryn]

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?

Of course. It can ruin a whole country because it can be a reason of treason and many corruptions.
We all know that bitcoin has an equivalent value, just like money, it can be a root of anger and envy.
And when the whole country is battling for bitcoins, it can cause a war and later on ruin it.

All governments of the world did not appreciate the danger of bitcoin for the economy immediately. Now they realize they made a mistake and want to send bitcoin legal. They want to impose all the risks on users, but to take taxes from turnover crypto currency. Moreover, they want this turnover occurred in other countries. It's hard to do so the government can't create a familiar system of levies which will be suitable for bitcoin.

[Anfisman]

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 don't think so, the income of a country lies not just from taxes, and bitcoin is the currency whose transactions don't have taxes and has a low fee, so very pro to the common people. and I don't think bitcoin should be the currency of a country, because I think make bitcoin legal in a country is enough to help the development of bitcoin and will help many people. so it's too exaggerated if you say bitcoin can destroy a country just because bitcoin does not have taxes.

[tutchpa]

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?

my answer is NEVER..because every thing govern by human.bit coin itself can control by human.they can add regulations new policies for transactions?so they can control /govern any currency including bit coin.so to my mind bit coin cant ruin any country

[Miles123]

I think that bitcoin cannot ruin a country because bitcoin is very helpful in our life now. It can help us to provide our daily needs. Bitcoin is my part time job and it can give a money to us. And if the bitcoin will be legalize it will pay tax so this will help the economy of a country.

[Lampaster]

I think that bitcoin cannot ruin a country because bitcoin is very helpful in our life now. It can help us to provide our daily needs. Bitcoin is my part time job and it can give a money to us. And if the bitcoin will be legalize it will pay tax so this will help the economy of a country.

It is actually only talking about the payment of the tax. Thus no one pays. I do not cry and I will not. To pay taxes is possible only when trust those who manage them. Who trusts the government? Politicians know this and will never agree to admit bitcoins.

[savushkinTA]

I think maybe they will collect taxes in bitcoins

[mehedi24]

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 reven.....country will be ruin.

[madwica]

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 reven.....country will be ruin.

How sure you are mate? Bitcoin will not ruin a country which bitcoin is already adopted even they dont collect taxes in bitcoin, instead bitcoin can helps to increase the economy of that country because if lots of people start to earn moneynin bitcoin it will lessen the unemployed person in that country.

[marcbitcoins]

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 cant ruin a country especially if bitcoin is declared legal. The unemployment alone which is one of the major problem in every country will be decreased and Purchasing power by the people will increase which is good for the economy. Government can imposed bitcoin tax in many ways like bitcoin changer permits and establishments receiving bitcoins will increase their profits will result to increase of their income tax records for the government.

[rockingdrip]

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?

This is really a problem for the central banks of any country . And all the countries are concerned about that fact . This is why chi a gov might (!!??) have banned ICOs. But some country like Japan, Australia ligalized the bitcoin, that means the have applied some method to bring crypto currencies in the tax system ,all country should follow them not china.

[budi691]

Difficult, if only assume not much different we are in the cartoon world. That will continue to imagine. A country without taxes will be difficult to achieve. Even if bitcoin into a currency a country must remain in balance with the existence of tax rules. Because then will sustain the economy of a country.

[pinoyden]

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. bitcoin can not ruin a country , infact it can make a country more better and improved because of its  many uses online/offline . bitcoin dont need tax anymore because transaction fees now are so expensive and that is just like a  tax to us, bitcoin is decantralized meaning no one controls or hold it not even the government therefor no one can declare a law to it.

[Balleteam]

The world of crypto currency lives its own life, but while bitcoin is just getting on its feet, everyone has the opportunity to participate in it. And in the rest it's a matter of time. I think , Yes!