Do you think Bitcoin can ruin a Country?

[LordDisick]

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 is not going to ruin a country, bitcoin is providing opportunities to its people for investment and trading, so bitcoin can be a good tool to increase the status of a country economically. i think if government take  serious step about bitcoin and regularize  then they can also impose tax on it and will certainly collect good tax from  bitcoin.

I second to this i really don't think it will ruin a country infact its helping the country's economy. If most of the people are using bitcoin in a good way like investing and trading it means people are becoming successful and rich and it will definitely boost the economy because those people will probably ventures on businesses.

[ahmadbhatti]

Bitcoin is not going to ruin a Country. It is a best opportunity for people to make money and earn easy way.

[hitchcoin]

Very real thing. It can crash it like to crush the insect. Of course, it depends on a power of the economic system of the country. but if a country has the problem with it, a possible thing to realize crash.

[Magic Sarap]

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.

No, in fact accepting bitcoin in your country is opportunity, and it can help for the economy to grow fast. And tax is what im talking about, when people invest in bitcoin, and they earn profit, they need to give tax to the government. And the government invest it or use it for projects or funds to theit foundations.

[Sithara007]

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.

Hmm... it may not ruin a country, but it can ruin the banks. And that is the reason why the banks hate Bitcoin and the other crypto so much. On the other hand, presence of Bitcoins can result in additional job opportunities and an increase in tax revenue.

[hitchcoin]

For me it is very easy to deal with this kind of issue.

If bitcoin becomes the currency of a country it will not happen without tax because there is no such event. And if being decentralized will be the reason why bitcoin can cause problem to a country because of being decentralized,  this is not hard to solve
because the government of a country has the ability to control the crypto exchanges that exist on their place.

Good point of view. I can say that only depends on the government position for Bitcoin, and about corruption inside the country. People are only doing their job.

[Crystal24]

I don't think its capable of ruining a country when its not the countries medium of exchange.

[The best one]

I think my opinion, if bitcoin become a currency of one Country, maybe it can destroy the country because Bitcoins do not have a tax for a country, and tax are used by the government to make a good country , and I think without tax, what will be used to spend and make a good country ?

[jonaire99]

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?

[jonaire99]

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 is created as a kind of payment system but it is more volatile than the ordinary payment system, the fiat. It may only affect the economy if the government legalized it and become commonly by its citizens. But it can't ruin any economy or the country as whole because of its fluctuations. The government can also impose a tax on every bitcoin transaction.

[chadrs]

I think no bitcoin is just a currency and nothing to do with other factor that can ruin the country.

[byteball]

...
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 this was already discussed.
Bitcoins do not have tax - and US paper dollar bills do?
At present, taxation is not built in into the money system, and perhaps it should, in the future more optimal system.
It's not even built into the banking system - usually the taxable legal entity submits report of its income separately.
All fiat to crypto exchanges are traceable nowadays, with even localbitcoins requiring photo id for every transaction, so at present "bitcoin has no tax" is bullshit.
There is no separate crypto-only economy to speak of, yet.

As for the general question, of course, crypto potentially can ruin a weak monetary system of even a large country, like India.
When crypto is in bubble phase, all assets in a country potentially become collateral for loans taken by businesses and individuals to buy crypto.
But when the bubble bursts, creditors (de-jure) become new owners of pawned assets.

[Fierceknight]

I think it can be but It's depend on government

[Voevoda]

I don't think its capable of ruining a country when its not the countries medium of exchange.

the fear of Central banks of countries that they will lose control over the local currency and as a consequence of the country's sovereignty. it is the inevitability of globalization or part of the global or local individual.

[starplaks]

It is unlikely to be able to destroy, but it can well be put into an economic impasse, because it will be necessary to completely remodel the country's economic system, and maybe even a number of states, because very many minerals can lose their value and remain just raw materials for common needs!

[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?

If bitcoin is the only currency of any country, it will not destroy, but it will greatly unbalance the economy of this country. Therefore, I do not think that any country will want to have bitcoin as an official currency, instead of national money.
However, you are wrong that bitcoin can not be taxed. For example, in Japan bitcoin is quite successfully taxed and this is beneficial both to the state and citizens.

[smiledeveloper]

 I don't think that Bitcoin can ruin a Country. I think & believe that Bitcoin is future money, it's have bright future over the world. Look, we live in a digital World, so we need digital money like Btc. I think Bitcoin is a blessing for us.

Hope, Bitcoin will be legalized all countries of this Universe. Just Calm Down.

[poktur]

Bitcoin is created for trade and investment, if something happens to the states, it is as a result of not the right policy!

[camila92]

Currently in the world there are more than 5 billion mobile phones in operation, thanks to this emerged an ecosystem called TelCoin based on digital money, very interesting to know about this new cryptocurrency.

TelCoin is a cryptocurrency company based on the Ethereum network, which proposes a solution for the digital money issue, thus using mobile networks worldwide and creating its own cryptographic Token.
I share this very good article about TelCoin

https://criptogaceta.com/criptomonedas/criptomoneda-telcoin/

[lokanot0]

I think that there are many ambiguous arguments here. If bitcoin were to become a currency of a specific country even if not(in case were they only legalize the use of bitcoin), it is in the power of the government of that country to impose tax on it, therefore, losing its untaxable character.