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Author Topic: CAN BTC SURVIVE WITHOUT FIAT CURRENCY ?  (Read 6268 times)
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21 Million is enough.

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July 28, 2011, 11:30:16 AM

there will still have to be some exchange into fiat for the purposes of tax payments - but that's a separate issue.

... Or perhaps not   Wink

Not as good as gold, BETTER.
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July 28, 2011, 11:31:41 AM

The biggest obstacle that I can think of, is that all the BTC transaction is not traceable, thus government have no way to collect tax in whatever transaction, then it's purely depend on individual merchants's honesty in paying the tax

Or maybe bitcoin just suit a society without any tax at all, so we have to buy insurance for everything basically covered by government today: health care, education, retirement, jobless compensation, road and infrastructure, etc...

You know, first they ARE tracable, second this has not stopped cash businesses from being taxes for many many hundreds of years Wink
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July 28, 2011, 12:35:28 PM

When I started this thread, my intention was to provoke some answers on the subject.

Now I sow many answers, all of the noticeable. But I would like to bring everything down to basic now in order to come to a conclusion.

Do we really need BTC to get out in to really world economy and therefore be exchanged into Fiat currency ? OR else we can keep it inside the web so that it can have a life on its own ? Why the final usage of BTC has to be into the exchange markets that have been created.

Follow it if you like.

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