Do you think Bitcoin can ruin a Country?

[wack slacker]

I do not think Bitcoin does that in that country and that certainly does not happen for the following reasons:
- Bitcoin makes payments quicker, more convenient and helps to prevent fraud.
- Bitcoin is only a small part of daily settlement and the rest is held by the national currency. Bitcoin only contributes a very small part so it does not affect much of the economy of that country.

[lynttrs]

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?

Maybe bitcoin cannot be an official currency of a certain country because each country still have to have its own currency that represents in a way its state and progress. But bitcoin can be part of a country's progress. It would not ruin a country unless people widely use it for illegal purposes. It depends on how it is used by the people.

[Cherylstar86]

Well its worst as you have expect to negative scenarios mate, lets just say its prone to be corrupted by goverment leaders if there will be regulations of bitcoin. But if it will be used to profit charitable institutions and people who had bitcoins investments will not be greedy of his/her wealth, then the country will not be ruined; it will improve its economy.

[Makka]

It is hard for a government to accept bitcoin as its main currency due to its national interest. Even the Venezuelan government created their own petro currency. But if ever bitcoin becomes a currency of a certain country then it won't be ruining its economy. For sure the government can impose tax because everything in bitcoin is in blockchain.

[Anatol_89]

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, and I do not think that such a currency as Bitcoin will be subject to ever more career regulation by existing state institutions. And thus he will enter into different spheres of life and activity and become more familiar phenomenon not only for those who are interested in this subject but also for ordinary citizens who are possibly about Bitcoin.

[SvonioneFromMangoCoinz]

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, I do not think bitcoin can ruin a nation. Because bitcoin help the economy in many countries have improved. Bitcoin is the savior of these countries

[Bodj1997]

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[Greed Dev]

The answer is no. Bitcoin never ruins a nation. Most people who invest in bitcoin and altcoin make a lot of money. So the people in these countries will be rich, so bitcoins are driving economic development in many countries.

[nickwen]

Human being can ruin the country not bitcoin, because bitcoin is providing different types opportunity where we can some amount of money with the investment we made on it. Today bitcoin has provided many facilities like trading, altcoin, online shopping, online recharge etc bitcoin has become created user friendly in between us.

I agree with your opinion. Since Bitcoin has become famous. There are many people who invest or work for bitcoin. Everybody earns money. If bitcoin is not created, unemployment will ruin many countries

[lokanot0]

Bitcoin can not ruin a Country. If it becomes a currency of that country, then it means that its use in that country has been regularized and therefore, it can be taxed.

[XFlowZion]

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, here we are getting taxed by those greedy government officials again. I don't really get why bitcoin is getting visualized as an evil tool to ruin a country because in the first place, our own government have already done that. They make the poor much poorer when they start collecting money instead of helping us.

[Faeton]

If no state recognizes decentralized Crypto-currency as national money, and I think that no one will think up such stupidity, the circulation of bitcoins and other crypto-currencies along with national money can not in any way cause any harm to the state. Decentralized crypto currency, in this case, is able to benefit both people and the state as a whole. An example of such a positive use of crypto currency is the experience of Japan.

[vessing]

Crypto-currency takes power from centralized systems and transfers it to the hands of legitimate owners - ordinary people. Bitcoin is dangerous because it is difficult to control, although the core of the cryptographic world is a certain goal: the ability of the crypto currency to reform the financial system,increasing transparency and eliminating the acute need for trust

[hitchcoin]

Very easy. This is a threat to the domestic currency-related economy. People can at a certain moment, when a crypt becomes popular in one instant, forget about cash transfers or even through cards in the bank. So be careful, and have a spare option.

[Andrew S]

Taxes are not the only tool for replenishing the treasury.  I think if the crypto currency becomes state, the government will think over how to replenish the treasury.

[carlfebz2]

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?

We know the purpose of TAX!
We know whats the possibilities could happen if all people do evade tax when making bitcoin as a main currency!

I cant even think off that this thing would happen even one in a million chance. Bitcoin would still retain into its place and considering for it to be recognized or full treated as a global currency then this thing do only happen in my dreams.

[hitchcoin]

Bitcoin under no circumstances can destroy the economy of the state. He simply can not do it. If bitcoin will go as an alternative to the national money of the state, it can even positively influence the economy of such a state. However, if bitcoin is recognized as the main currency of this country, it can badly affect the economy of the country due to its large volatility and practically unbalance the economy of this country. Therefore, I think, no state will ever recognize bitcoin as the main currency of this country.

I support this view, because it is a direct competition, which should end with a result. It is difficult to predict which exactly, but the negative ones should not be discarded.

[Firefox07]

I think bitcoin will not ruin a country. Even if bitcoin have no tax. There are still other ways to collect tax. And bitcoin can help unemployed people to be employed. So it can boost the economy.

[Ozero]

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?

Why do you think that bitcoin is not subject to taxation? Already, some countries have introduced bitcoin taxation. One of these countries is Japan, where successfully applying taxation of crypto-currencies, including bitcoin. This brings income to both citizens and the state.
Bitcoin can not harm the state if it does not replace the national money, but will walk along with the national money in parallel.

[USDOLLAR]

A suggestion is bitcoin become a parlel currency of the country.In meanwhile kindly try to resolve all issues about tax structure or tax regulations because tax is essential equipment for development of the country.If possible make a global core team his work will be only to rectify every issues which will comes in the way for implementation.When every thing will OK then you shift easily old currency with bitcoin.