Let's suppose that Bitcoin became universal (used everywhere you go)

[juragane]

yes of course bitcoin is acceptable for all countries and bitcoin can help to be one of the few payment solutions in some countries so you can also use bitcoin for other purchase methods.

[Scoremaster]

Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks

I'm thinking that first of all it would be so much more comfortable to use a United single crypto currency in whatever place you will go to buying all the stuff that you need to pay with the single currency.

[everythingforsale]

We need to be really careful about that because when we are speaking about the increasing then the prices too often it turned out to be a false signal and the peak of Bitcoin was only once in 2017 no evidence that it will repeat.

[Indra32]

If one day, BTC enters our daily life!
The government can use BTC to replace the current legal currency for economic activities!
Businesses and individuals also have to pay taxes, but change from the legal currency to BTC!

I think the Government is afraid of losing taxes, maybe one day bitcoin and alt coin holders have to pay taxes.
I understand this as a concern, and this is why some countries still forbid crypto.

[yulchatar]

If one day, BTC enters our daily life!
The government can use BTC to replace the current legal currency for economic activities!
Businesses and individuals also have to pay taxes, but change from the legal currency to BTC!

I think the Government is afraid of losing taxes, maybe one day bitcoin and alt coin holders have to pay taxes.
I understand this as a concern, and this is why some countries still forbid crypto.

If everywhere will take the bitcoins the government will have nothing to fear. Let's say the restaurant started taking bitcoin. The license to work for this restaurant is issued by a government agency. And the owners also pay taxes to the state. Also, a certain amount will be included in your restaurant bill which will go to pay tax. That is, the country, in any case, will receive income.

[YoutubeChannel007]

There will be some rules and regulation implied on that but that is okay.

[Humananitty10]

Life will be so easy and hassle free if the bitcoins are expected everywhere.

[EVOS]

if bitcoin is already used worldwide, and the state does not tax on bitcoins.
the state will not die, because the state can still take tax on other things like Motor taxes, building taxes, etc.

[ivandu]

If one day, BTC enters our daily life!
The government can use BTC to replace the current legal currency for economic activities!
Businesses and individuals also have to pay taxes, but change from the legal currency to BTC!

I think the Government is afraid of losing taxes, maybe one day bitcoin and alt coin holders have to pay taxes.
I understand this as a concern, and this is why some countries still forbid crypto.

taxes could become main issue in cryptomarket.each goverment has their own interests to withdraw tax from cryptoexchange or investor cryptocurrency.the potential tax is very large, so they will still attract taxes.

[camric09]

If one day, BTC enters our daily life!
The government can use BTC to replace the current legal currency for economic activities!
Businesses and individuals also have to pay taxes, but change from the legal currency to BTC!

I think the Government is afraid of losing taxes, maybe one day bitcoin and alt coin holders have to pay taxes.
I understand this as a concern, and this is why some countries still forbid crypto.

taxes could become main issue in cryptomarket.each goverment has their own interests to withdraw tax from cryptoexchange or investor cryptocurrency.the potential tax is very large, so they will still attract taxes.

Yeah, taxes will be bigger and maybe bitcoin will become more expensive because of the taxes that will be included when buying bitcoin also when using it, so there will be positive and negative outcome when this happen.

[nguyenthanhvien]

This is great. Then I can buy anything in the world without worrying that I will have to pay anything. I do not worry about the monthly money that will be managed by a bank. If the bank goes bankrupt, your money will be frozen or lost forever.

[michellee]

I think bitcoin user will be happy to see bitcoin become universal because they have a chance to carrying bitcoin to all places without worry how they can convert their bitcoin to local fiat. I am sure that when it happens, we can see that many local exchanges that will available in every place and we can use the bitcoin to buy something with that bitcoin. but maybe this will not happen in this short-term because the government is not ready to accept bitcoin as a new payment.

[basyang]

Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks

It depends on the government if they will allowed bitcoin in their country. Its possible to have a tax for bitcoin in every transaction if it will implemented and Government would not allowed if it will not have a tax deduction. My country can not survive if we only use bitcoin in daily basis, and it is kind of impossible that it is the only thing we could use to pay because I think most of people here in my country prefer to used cash or a physical money so I think bitcoin can only used as an options in a daily mode of payment but not the only one used as a payment.

[BTCballa]

Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks

In one hand I think it would be so much more comfortable but in another hand I think it would colossal harm for the world existing economic system that is present right now, so I'm not the one to judge.

[Btcschool]

I think that between the government and the holders of the crypto currency will be concluded some agreement, which will be something like a new kind of taxes. Or the government will also accept payment of taxes in the crypto currency.

I am waiting for that time anxiously. May be I will never see that time because of the limited life but I am sure that my children will see that era. Just imagine the picture of the world; the whole people will use just one currency and no need to take regular currency in your pocket. Just one click and you can buy anything anywhere in the world. That’s just wow.

[slyfox]

Well,this is one of the greatest aims of the crytocurrency industry but the long run effects like loss of taxes cannot be underestimated. But let me ask largely, is our taxes really used the right way?People are using our taxes for their advantage. Making and fating themselves.We still have a lot of problems the tax payer go through yet the taxes are collected daily,weekly and monthly. What are they used for.I believe that we will be able to manage things one day without taxes.

Taxes are simply too high, in the past there were not as many taxes and people relied more on themselves, their families and their communities and now people are delegating everything to the government and that is not right, with that excuse the governments around the world have become gigantic and are now a threat to our freedom and our economic well being.

[pharaon]

It is difficult for me to technically suggest how it can be understood that we will use crypto-currencies around the world. Everything depends on the country in which we live, and if the crypto-currencies are accepted as a means of payment, in any case new laws and legal norms will be created, so it is necessary that a certain time passes when it is in reality.

[huhhuh18]

That will even give them the easiest way to monitor your income and tax you. The public ledger staking of blockchain makes every transaction visible, open and transparent to everyone and so they'll easily get you to pay taxes. Governments love taxes and so they wont let you have your money freely even if you have Bitcoins. So far as you have money, they'll want to get something from you.

[Spend.com]

The bitcoin protocol was initially designed as a cash system. Bitcoin Cash would be a great example of a payment protocol used for a currency. Bitcoin itself, I would classify as Gold 2.0.

[snkneo]

Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks

I'm sure many people will pay there taxes, and the government would crack down on those who are not. It's the only reason why I see they might "ban" it, because then it becomes a concern of national security.