Do you think Bitcoin can ruin a Country?

[TKarollah]

At the moment, it's hard to believe that at least someone would dare to use Bitcoin now as payment services for a country that is still too raw Bitcoin, but in the future, what the hell is not joking.

if bitcoin is able to change people's views and produce massive conversions from fiat then inflation will occur, and if there is no crypto regulation then in the end the government will experience severe economic sovereignty degradation.

Fiat exchange rates will decline and the economic order will lose the standard of stable price formation because everyone starts compiling their respective prices from the growing fluctuations of bitcoin, public trust will shift and only assume at global prices without heeding domestic fiat.

[1714121986]

1714121986

[Aramazdi]

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 not because bitcoin is a currency and if it becomes the currency of a country that is taxed instead of bitcoin but its use, for example to buy and sell, and of course what is taxed is the trade tax from buying and selling, most likely the country will be greatly profitable because bitcoin global in nature and not affected by one of the countries becoming more stable than the conventional currency which is always haunted by sentiments between major countries.

[bitcoinisbest]

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 not because bitcoin is a currency and if it becomes the currency of a country that is taxed instead of bitcoin but its use, for example to buy and sell, and of course what is taxed is the trade tax from buying and selling, most likely the country will be greatly profitable because bitcoin global in nature and not affected by one of the countries becoming more stable than the conventional currency which is always haunted by sentiments between major countries.

If government keeps a track of it as it has transparent system of knowing form where to where the movement of transaction taken place could be traced this will help minimize if any such activities happening which should not be happen. Though it cannot be said 100% safe and nothing wrong can happen but this is the case with even fiat where black money still exists in the world.

[primejia]

Oh yeah definitely! maybe a country with more than 50M population, in that way their currency becomes more valuable than diamond.
Not to mention the lack of liquidity will be their demise if not lack of taxation.

maybe bitcoin can damage the country, can it or not because bitcoin is only a currency and certainly used for buying and selling transactions if it can damage the country from what problems? if the existing tax problem is a buying and selling tax, property tax and asset tax and bitcoin is in what position, maybe assets, if we see together the positive side of bitcoin it is very much and the potential of bitcoin to help the country's economy is very large, and if subjected I also think of tax assets and buying and selling taxes, and this problem cannot damage a country's economy ...

[mornabo]

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 not because bitcoin is a currency and if it becomes the currency of a country that is taxed instead of bitcoin but its use, for example to buy and sell, and of course what is taxed is the trade tax from buying and selling, most likely the country will be greatly profitable because bitcoin global in nature and not affected by one of the countries becoming more stable than the conventional currency which is always haunted by sentiments between major countries.

If government keeps a track of it as it has transparent system of knowing form where to where the movement of transaction taken place could be traced this will help minimize if any such activities happening which should not be happen. Though it cannot be said 100% safe and nothing wrong can happen but this is the case with even fiat where black money still exists in the world.

Lets say the government can do tracking because the transaction is already transparent on the blockchain but does the government know who owns that bitcoin address? ofcourse no, so that I think it's possible for bitcoin with many anonymous users with all their goals, it could be detrimental to the country

[logisticalmother]

until now the government cannot process various illegal domestic transactions in full, imagine if bitcoin was associated with drug trafficking syndicates around the world, the money laundering and transaction system through cryptocurrencies would be more organized and structured.

the government will also find it difficult to process the smallest bitcoin transaction crime because it can still be manipulated in such a way.

If the government cannot regulate regulations and implement them properly, the negative impact will be very widespread, especially in developing countries.

[Bizard]

Of course, it can not spoil it, but it also does not improve the situation, but of course it’s not to see what kind of country it will be, if America, perhaps many will act in the same way, and if the weaker countries, I think this is not the best idea for the state, now we will follow Petro Venezuela coin pegged to petroleum products.

[Patient_Zero]

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?

actually wrong thinking, we all have to know that bitcoin is only a currency, how currencies can damage the country, which can damage the country usually the holders of money itself is not money, if the perpetrators all obey the tax, of course the country will advance and vice versa it will happen if the businessman does not want to pay the state tax will be destroyed ... so it is not the most important currency but the person who determines it.

[Ethan Argu]

 I dont think so, but if they use in a bad habit maybe it can destroy country. Crytpo helps community to make transaction smooth and convenient cooperated with many business and it also help many peope jobless to earn. While in thier home. It has a big help for everyone if we use it in a right way.

[ningrumxxi]

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.

like facilities, which may be very good facilities and support all types of trade can damage a country, usually there are users who abuse this facility, so it is very unlikely that bitcoin can destroy a country, there is bitcoin can increase state revenues through ease in transactions and facilitate each user to make payments even if it's different from the country.

[sambel90129]

Why would bitcoin ruin a country if it becomes its currency? No leader in a country in his proper thinking would allow bitcoin to be used as its main currency and not being taxed... It's simple as that, when it becomes a currency, then it will be regulated, besides, if you buy items using your bitcoin ( if it is already your currency ) there is already a tax in it, services too, taxes are in it...

So it can't ruin a country... Leaders will always look at its country's future before trying out new things...   

indeed a currency cannot damage the country, because the currency remains only a medium of exchange, so what can cause a country to be destroyed is the people who hold the money, if we examine bitcoin it really helps a country through the ease of making payments, and of course the world trade will be very helpful, so the results of the country's economy will be very advanced, because the trading system is very easy and the business world will be very developed.

[aryatrals]

i think bitcoin is not gonna ruin a country but bitcoin will help the economy of a country with giving more benefits to citizen when they use bitcoin in daily life but this is not yet realize by government or they know before. its like using fiat in a country but we have more benefits that we can use it in many places in other country.

indeed the convenience offered by bitcoin is very good and supports the world of commerce, but if the country adopts bitcoin to become the currency of a country there will be many shortcomings that can not be fulfilled by bitcoin, one of which does not provide credit services, while the community now needs a credit system, such as credit housing, vehicle loans and some loans that are already a necessity for citizens, this kind of thing cannot be fulfilled by bitcoin, maybe the right step is bitcoin collaborating with conventional currencies and the bank to equally facilitate all the needs of the community.

[zahed]

If Bitcoin is a one country currency i think it is able to ruin a country. Because first reason is BTC is not a stable currency that's why more possibility to affected in financial sector. Some one will zero to hero & some one hero to zero. Controversy will create in which country.

[Dirk2017]

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?

There are already lot of countries that are legalized Bitcoin and after 10 years of its existence i don't see or read any news that a country was ruined after adapting Bitcoin therefore the current event shows that your concern regarding country will be ruined is really not possible especially that crypto currency is now fully regulated.

[mikronofficial]

well, thats a pretty good theory... shower toughts right?

[DavidNiva]

i think bitcoin is not gonna ruin a country but bitcoin will help the economy of a country with giving more benefits to citizen when they use bitcoin in daily life but this is not yet realize by government or they know before. its like using fiat in a country but we have more benefits that we can use it in many places in other country.

if a country uses total bitcoin as their currency, there will be two results that will occur one about the excess or a plus for that country, namely the community will benefit, especially business people in that country they are very easy to buy and sell, tourists will also very easy, because travelers no longer need to exchange their money into the country, but there are losses that will occur, bitcoin does not have a feature of credit and collateral to finance one of the goods, there is no credit, the business people will be very difficulty in financing their businesses which are usually borne through credit.

[Argoo]

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 will never become the official currency of any state. No state will ever give up its national money, because it is on national money that the economy of any state keeps and develops. If the state switches to the use of a foreign or "neutral" currency, which cryptocurrency is actually, then this will be very detrimental to the economy of such a state. However, it will not fall apart if it again switches to using its own currency.
Cryptocurrency can have a positive impact on the state’s economy if it goes along with the national money of the states. This will happen in the future.

[DanielSmith]

Well, I think of it that bitcoin will not ruin a country, Just take a look the positive side it brings, bitcoin is providing good opportunities to its people for investment and trading and also the transaction which made through it is cheaper and faster, so bitcoin can be a good tool to make country financially strong.

[KorakPawon]

Oh yeah definitely! maybe a country with more than 50M population, in that way their currency becomes more valuable than diamond.
Not to mention the lack of liquidity will be their demise if not lack of taxation.

When talking about the number of population, yes it is possible when the number of population bitcoin is huge, they will be very potential. But, the problem is not the people, it is bitcoin when the bad intention is what people do in doing transaction. So, bitcoin will ruin the system that will ruin the country. So, it depends on people's intention.

[Ross.Thoms27]

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.

You're right, It depends on the usage of BTC and if the government will not abused people by using BTC, Bitcoin is just a bitcoin the people using it will be the problem, besides we are surrounded now of electronics and high tech gadgets bitcoin will be the new revolutionary currency.