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

[lokanot0]

If bitcoin where to become a world currency and which does not make you pay taxes, it would result to almost all governments collapsing. Government can exist because of the taxes paid by its citizens. It would be better for Bitcoin to co-exist with our current currencies.

[sharnel18]

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

For me its impossible because if i am not mistaken the government uses people tax to improve our country and they use it in some other financial needs of our country. 

[realcrypto]

If bitcoin is globally accepted, adopted and used in every form of financial transaction across the globe it will be the best thing that has ever happen to the world financial system. Before the global acceptance government will have a blockchain department that will develop a system that will take care of the taxation directly or indirectly.

[miyaka26]

The said currency is not yet ready for the universal adoption, it is vulnerable to market fluctuations, corrections, and manipulation that you can imagine using prices of goods and services will also fluctuate according to the price of bitcoin, well if that happens, Government will find a way to tax and regulate cryptocurrency it is not that hard to impose such restrictions.

[yesyes18]

It would have been awesome though, nevertheless we should note that governments are always intrusive. They'll still find ways of taxing should BTC become the sole currency globally. They'll find a way of getting something from citizens so far as there is the presence of a currency, whether fiat or crypto. I think this has started already, they are finding ways of taxing crypto

[pixie85]

The said currency is not yet ready for the universal adoption, it is vulnerable to market fluctuations, corrections, and manipulation that you can imagine using prices of goods and services will also fluctuate according to the price of bitcoin, well if that happens, Government will find a way to tax and regulate cryptocurrency it is not that hard to impose such restrictions.

It is ready. What you're seeing now (fluctuation) would disappear after the adoption. Worldwide adoption would mean millions of new users and millions of businesses accepting it. The user base would have to grow 100 times in a year or so. How many people use Bitcoin every day? This is still a very small market that's why you can't compare it to other currencies.

[el kaka22]

Well, taxes also don't automatically get removed from your bank account either...
It would be the same if Bitcoin became universally used. Governments would just accept payment in Bitcoin, but you would be responsible for making those payments and reporting your income etc.

Also, isn't it nice that they have this big ledger (blockchain) to see what kind of income you have received.

There would still be some people who would see it as an easy way to evade tax system and probably be able to cover up their tracks and get away with it. Governments still get value added tax from goods purchased anyway and that is something.

Moreover, I believe there may be some system in place eventually to help track some of those things, but this is based on assumption as I cannot think of one. Who has the tax paying helped anyway, except for some set of thieves using our taxes to enrich them-selves? In summary, no one cares about the government anymore?

[ngano ba]

That is a very fine to hear that bitcoin will became a universal , where ever you go , it  makes our transaction more easy and the payments anywhere you made is so fluid, and you do not have problem in making activities anywhere around the world.

[FlightyPouch]

That is a very fine to hear that bitcoin will became a universal , where ever you go , it  makes our transaction more easy and the payments anywhere you made is so fluid, and you do not have problem in making activities anywhere around the world.

If Bitcoin became universal, I don't think volatility will be a problem since Bitcoin will be a digital currency that will be used everywhere and everyday by its users. With Bitcoin becoming a universal digital currency, it is also saying that Bitcoin has a great price and a lot of Bitcoin investors and users are already a millionaire, Satoshis will be really expensive and that is just Satoshi.

[Yadstiker]

Well, taxes also don't automatically get removed from your bank account either...
It would be the same if Bitcoin became universally used. Governments would just accept payment in Bitcoin, but you would be responsible for making those payments and reporting your income etc.

Also, isn't it nice that they have this big ledger (blockchain) to see what kind of income you have received.

Yes i somehow agree with you. Well without taxes also the governmeny doesn't have their source of income, am i right? Each country's improvement depends on taxes mostly, and aside from that the government wouldn't allow it technically so i guess taxes couldn't be removed, or they will find some alternate solution.

[Betwrong]

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

First of, that's not true that Bitcoin payments can't be taxed. If we suppose that every payment is made in BTC then VAT (Value-added tax or goods and services tax (GST) which is the same thing) will be paid automatically every time a customer makes a purchase of goods or services. The only difference from how it is dealt with now would be that the tax is paid in BTC instead of fiat. Also, I agree with above posters who say that volatility will stop being an issue if Bitcoin will be used universally.

[taiwww]

If that happens then demand and supply will rise a lot and all the crypto currency will start getting costlier day by day.

This means the use will rise, people will trade them on larger scale and thus it could start affecting the economy of the nation. If that happens then this dramatic effect will be caught by the government in first place and they will even start making changing on the law suits and thus regulating the crypto currency for taxes.

The example of this can be seen from the India where the news is coming that 18% taxes will be imposed over the crypto trades.

[doomloop]

If bitcoin where to become a world currency and which does not make you pay taxes, it would result to almost all governments collapsing. Government can exist because of the taxes paid by its citizens. It would be better for Bitcoin to co-exist with our current currencies.

Who does not want government to collapse? Well if we talk about the real situation, so we need to collaborate with governments in order to run state properly because there are thousands of theories supporting this fact that people need some ruling authority in order to stay in order and maintain peace. Sovereignty also belongs to state in many cases which means someone is needed to execute it.

[roflmao129]

It is hard to imagine that world since the people only care about profit while having bitcoin. They will not spend their bitcoin with any price. Instead of spending, they will hold thier bitcoin forever, just like gold .Therefore, it is hard to use bitcoin everywhere on this world

[SplendidHunter]

This would be great, we dont need then ever go to an exchange, loose a fee percent and whatever else difficulties with currencies...

[vite]

In some countries you have to pay tax for your income as well as pay Value Added Tax, Goods and Service Tax, etc. These kind of taxes are imposed on people. if every countries accept BTC then i can go to any country and pay using same currency and pay only one tax for whatever services i get. It will be great. Lets hope that day come soon enough.

[ibuddy122505]

Then literally you would go to the shopping mall or restaurant and paying bills with Bitcoin just by using QR code. The whole point here is an easy, cheap form of payment. They're all about simplicity. I'd say give it time to become established that bitcoin universal currency.

[Choyor]

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 do not think everything goes well when Bitcoin is used in every day of our daily interest or in the interests of doing business without taxing the government. for example if we receive a wage from the company automatically the company will pay taxes to the government, while the government will question where from the income we get.

[breathlessz]

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 do not think everything goes well when Bitcoin is used in every day of our daily interest or in the interests of doing business without taxing the government. for example if we receive a wage from the company automatically the company will pay taxes to the government, while the government will question where from the income we get.

if in my country this is hard to implement, because bitcoin has not been legalized, so company can not pay employee salary using bitcoin. though not directly taxed, but in my country there is an income tax so we have to report the total income for a year

[Cacingkemi]

The government will get a payment us for taxes from the many trading stores will be recorded in the ledger of the addy that he manages and daily monitoring will be done,does't rule out there will definitely addy privacy that can make a person hide without tax.Excellence It will facilitate taxation if the blockchain can be used by the government various public transactions can be seen by him.