Do you think Bitcoin can ruin a Country?

[himo4466]

BTC[quote author=FlightyPouch link=topic=1771456.msg17679575#msg17679575 date=1485833332]
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?

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[1714138638]

1714138638

[Krishan_94]

Bitcoin is the future of trade ..

[Emmami@758]

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 it is not possible because bit coins has limited coins. so then how it can rule to country or world. so it's just trash who can hold bit coin from now to few years like that people get rich. and bit coin has good facility is no tax. if anything we have to buy for that we have to pay tax. for that reason people are interested to buy bit coins and it is profitable also.

[samcrypto]

Of course not, instead bitcoin will help your country to improved because bitcoin offers great system that can help develop countries to move forward, bitcoin is the future and we should take this as a privilege to move further.

[darkangel15]

ı think about bitcoin it is good idea cause countries dont use money close future. it is a revalotion we will see our children  will use this money

[Ingudum]

Think of it, Bitcoins do not have a tax.

maybe you need to rethink that when you cash out your giant bitcoin profits. depending on where you live you're gonna find it certainly does have tax and your ass will be nailed to the wall if they find out you haven't paid it.

if buying and selling are done online using bitcoins then there is no way the govt is going to tax

[otandelapaz]

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 I think it can, with regards to taxation.  But I think, when bitcoin (cyrptocurr) becomes popular in a country its government will regulate and legalize it before it becomes destructive to it's economic.  Then if that happens, bitcoin will become beneficial to the that country and its people.  Thank you.

[richminded]

Of course not, instead bitcoin will help your country to improved because bitcoin offers great system that can help develop countries to move forward, bitcoin is the future and we should take this as a privilege to move further.

That's true cryptocurrencies specially bitcoin will not ruin your country they are invented for a better future, and we should feel lucky since we are here to become more better and to make good money. Bitcoin will surely help us to a brighter future, to transact more easily around the world. A lot of good altcoins out there that develop good system for a good future.

[BitSat]

Think of it, Bitcoins do not have a tax.

maybe you need to rethink that when you cash out your giant bitcoin profits. depending on where you live you're gonna find it certainly does have tax and your ass will be nailed to the wall if they find out you haven't paid it.

if buying and selling are done online using bitcoins then there is no way the govt is going to tax

You are right but all members cannot do this so they have to do exchanges in banks and surely they are paying taxes as me some time I need cash so I withdraw this in my bank account as I have payment they cut taxes here is no way I withdraw all my money from bank without paying any tax

[crzy]

Think of it, Bitcoins do not have a tax.

maybe you need to rethink that when you cash out your giant bitcoin profits. depending on where you live you're gonna find it certainly does have tax and your ass will be nailed to the wall if they find out you haven't paid it.

if buying and selling are done online using bitcoins then there is no way the govt is going to tax

But it can't ruin any country because basically bitcoin was invested for a better system to transact easily. Bitcoin will help your country for use to do business easily and bitcoin will improved our lives because we can earn big profit here.

[madwica]

I believed that bitcoin can help to improved the economy of one country and not ruin it, as you can see lots of people are start earning in bitcoin to increase their income and some unemployed people are now gaining profit with bitcoin also it can help to decrease the poverty erradication in every country.  But those bitcoin earner is still reported as unemployed because bitcoin is digital currency which can earn it online and do not have any paper or coin money.

[bitcoinvamp]

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?

Well if that ever happens that bitcoin becomes a currency of a country then there will be certain rules over its trading and of course the taxes will be implied according to the earnings . Even the govt. would know about this thing so they will work on this issue before making bitcoin its currency .

[Mahanton]

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?

Well if that ever happens that bitcoin becomes a currency of a country then there will be certain rules over its trading and of course the taxes will be implied according to the earnings . Even the govt. would know about this thing so they will work on this issue before making bitcoin its currency .

But we dont forget on the fact that we cant still be sure if those people who do have bitcoin holdings would really be responsible enough to pay up their taxes and also not all people would really make use of those trading local sites which tax would be impose.Come to think off on those transactions outside of those area? People wont really bother at all and this is really the disadvantage.

[Rupok]

I think Bitcoin can not destroy any country but save the country from destruction. Currently, the state of a country can increase economically through Bitcoin.It is said that Bitcoin is a blessing for everyone.

[Domenc]

Bitcoin has been misinterpreted all over the world . It is totally agreed that bitcoin if introduced in a country as a legal currency can totally change the financial procedures of a country but there is also an another side to it .
If bitcoin is introduced  and legalized in a country it will provide tremendous job opportunities to the people and will also increase the level of all over economic growth of a country .  All these facts are ignored my most of the people  . The only concern is that bitcoin will not leave any option for the government to keep check on the transactions i.e it will not be a centralized system.

[Tulen1990]

I don't think a country would let that happen to push it to that point. They have to collect taxes somehow.

[Lm2e4]

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 guess you have some point there, but can't you see that bitcoin can also make a certain country a "good one" you were talking about. Our Governments controls the country and also us people, but yet sometimes it still isn't good because some of them are thiefs, anomalistic, and shouldn't be trusted. Sometimes taxes doesn't actually help people but the one who controls it itself. And if bitcoin colonized their positions there will be a big change that I think would be better than before.

[Ethminer2x]

Yep, bitcoin it now bring to many billionaires people to my country.
Hehe that isn't ruin but I lost some friends because they're too rich now

[yojodojo21]

Yes For Me it is Possible We Know that This days Third World Countries are Adopting Bitcoin in to It's Respective Place, Yes, We know That in Bitcoin it is Tax Free. What I am Really concern of is The Government officials who are Corrupt, if Bitcoin will be regulated in Different Countries and Politicians are corrupts then It Will not be A good Teamwork. If corrupt Government Officials Take care of Bitcoin, if it is implemented in the Right time, then it is not just only the country will be ruin but also it's Neighbors.

[bunnylegacy]

I think no, because bitcoint is very useful for countries and companies, and make bitcoint as a means of payment.