Do you think Bitcoin can ruin a Country?

[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 cannot ruin a country when accepted a medium of exchange. Indirectly, all bitcoin holders pay tax to the government irrespective of how you intend to cash it out. The moment Bitcoin is converted to fiat, it is subjected to tax knowingly or unknowingly. Bitcoin only boost the economy of a country as it brings huge earnings to the holders and to others serves as a job opportunity.

[iMark]

I think bitcoin cannot ruin our own country. Bitcoin will be one of the best innovation of every country. Bitcoin can also help our own country economic growth. We see how much bitcoin is being treated by our country. Some countries banned crypotocurrencies. We should promote bitcoin to our country to make its value grows high.

I know that bitcoin provides a good profit investment for some people in a country but that doesn't mean it will have a big positive effect on the economy of a country? we know that bitcoin has a positive and negative effect, what if bitcoin is used more for bad things in the country, for example for money laundering to avoid taxes? surely it would harm the country economy right?

[Suharti12]

Yaaa think bitcoin to be a currency in a country is very good, because I understand that the government will do tax rules for bitcoin users or bitcoin owners by checking the ownership data of the users wallet.

[Vektrum]

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 becomes the main currency of the country, in any case it can not destroy it in any way, but it is possible to unbalance its economy due to its high volatility. In my opinion, the Crypto currency can not be recognized as the only means of payment in the state and should only go in parallel with the national money. Otherwise, bitcoin or another crypto currency can not do any harm to the state. On the example of some countries, such as Japan, we see that the crypto currency is quite successfully taxable and it can bring profit to both citizens and the state.

[Tengcreneng]

Well, I just thought, if bitcoin becomes a currency of one Country, maybe it can destroy that country? Think of it, Bitcoins do not have a tax, and tax is 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 of course if Bitcoin has been legalized in a country but not taxed. Obviously, it could damage the country. Because the tax is very important to grow the country's economy. If there is no tax everything will be more destroyed. But I do not think this will happen. If Bitcoin is legalized in a certain country, the Government of that country will impose a tax on Bitcoin.

[btrice7]

I 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

[Arkyo]

I am quite sure that bitcoin will not ruin the country, but will make it stronger. How? Simply making its citizens owning this cryptocurrency more and more rich.

[apelopus]

It depends on what the cryptocurrency is backed by when it becomes commonly used. For example, if we take the case of El petro, it for sure can add to economic crisis Venezuela is already suffering from. But Bitcoin? I don't think Bitcoin can

[BUK2016]

Well, ii see that you talking from the angle that crypto currency business activities are not tax in your country just like my country. In relation to bitcoin tax by the government

[palvinta]

Well, I just thought, if bitcoin becomes a currency of one Country, maybe it can destroy that country? Think of it, Bitcoins do not have a tax, and tax is 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. If Bitcoin has been legalized in the country, it is certain that the Government of the country will impose a tax on those who have Bitcoin. The government will immediately set the tax on Bitcoin. So Bitcoin will not harm the country, but Bitcoin will have a positive impact on the country that has legalized Bitcoin.

[aviven]

It depends on what the cryptocurrency is backed by when it becomes commonly used. For example, if we take the case of El petro, it for sure can add to economic crisis Venezuela is already suffering from. But Bitcoin? I don't think Bitcoin can

As analysts say, The idea of El Petro being Venezuela’s way to overcome sanctions is likely to fail, however, some of them assume that it might work if there is one more country’s support. From what I can see now El Petro won’t help the government and might become a huge upset for its investors

[gudjhonson]

Well, I just thought, if bitcoin becomes a currency of one Country, maybe it can destroy that country? Think of it, Bitcoins do not have a tax, and tax is 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. Bitcoin will even bring benefits to the country that legalized it. I can guarantee this. If a country has legalized Bitcoin, the government will surely impose taxes. The government will definitely take advantage of Bitcoin. Especially in the country of Indonesia is in need of taxes to meet the needs of his country.

[paresh nakar]

my think is bitcoin is great and its like using fiat in a country but we have more benefits that we can use it in many places in other country.

[apelopus]

It depends on what the cryptocurrency is backed by when it becomes commonly used. For example, if we take the case of El petro, it for sure can add to economic crisis Venezuela is already suffering from. But Bitcoin? I don't think Bitcoin can

As analysts say, The idea of El Petro being Venezuela’s way to overcome sanctions is likely to fail, however, some of them assume that it might work if there is one more country’s support. From what I can see now El Petro won’t help the government and might become a huge upset for its investors

I read a piece of info where Maduro announced that  some Brazilian companies are willing to be paid in el Petro for their services. So it seems like their fraudulent project is gaining support.. unfortunately...

[Eva_me]

Bitcoin cannot ruin country.  Perhaps goverment cant regulate bitcoin because of being decentralized, but they can build and regulate exchanger which every transaction fees has corresponding taxes. And  they will get taxes.

[guffie]

Well, I just thought, if bitcoin becomes a currency of one Country, maybe it can destroy that country? Think of it, Bitcoins do not have a tax, and tax is 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?

Without taxes, a country is not going to get better. Because taxes within a country is very important to meet the needs of the country. I do not think Bitcoin will ruin a country if Bitcoin is legalized and taxed in that country. Because if only the status is legal but the tax on Bitcoin has not been enforced it is certain it will harm the Government and the state.

[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?

Have you also considered how the governments will generate enough funds if they employ bitcoin and other cryptocurrencies? There wouldn't be the need to be fully dependent on tax before the country could be developed.

[portatifx]

I think yes.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.

[hongchi]

CryptoHit Airdrop
https://bitcointalk.org/index.php?topic=3342829.0

[aviven]

Well, I guess that bitcoin actually can ruin the country, if it becomes an official currency on the government level.Well, let’s see what happens to El Petro. Although now it’s save and sound, in the future cryptocurrency backed by oil might become a real threat