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

[jmvzlfyg]

I don't want to worry too much about tax. If the community is mature enough, it is possible to pay the bills in bitcoin, in bitcoin, shopping, restaurant and so on... Maybe the state has launched a lot of encryption systems at that time, and perhaps the government will levy taxes on your wallet.

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[Rossy Akbar]

I mean,  if you supposed that bitcoin will accept world wide the government of each country will make their own rules, because if that happens it would be need something to protect whatever you will do with bitcoin. And also paying taxes was not that bad tho, everything you do would be safety if you paying taxes.

[cizatext]

If bitcoin becomes the universal currency which will be accepted and use at every level of the society the government will have no choice then to adopt bitcoin and bringing about the total financial freedom bitcoin have been design to bring, but you should also no that freedom comes with a price the government will now be directly involved in bitcoin bringing about the introduction of tax and regulations.

[localcrypto]

Bitcoin created revolution in the world till date but in future bitcoin will be widely used for online transactions in future and more merchants will be added in bitcoin space

[laravuemaster]

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

Bitcoin should be universal because everyone in the market is trading in order to earn more profit monthly and if cryptocurrency will be widely used then i am very sure that the price will increase even more.

[richardsNY]

I mean,  if you supposed that bitcoin will accept world wide the government of each country will make their own rules, because if that happens it would be need something to protect whatever you will do with bitcoin. And also paying taxes was not that bad tho, everything you do would be safety if you paying taxes.

We don't need the government to protect us. We need something that will protect us against the government, and that something is Bitcoin. The government can force control over you right now because of how easy it is for them to seize all your assets and make it impossible for you to conduct transactions through the legacy payment system. They can't do anything to you if your wealth is locked in Bitcoin, and that gives you a tremendous amount of power over anything this system exposes you to. In the same way merchants will have to make use of decentralized applications that will allow them to accept Bitcoin. Accepting Bitcoin through centralized services such as BitPay is what we need to avoid in the long run.

[Hopeful2017]

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

If that happens, surely, government will also put tax on bitcoin. Every single transaction will also be taxed. Government will put regulations especially in digital assets you have.

[queenlaurel]

I want to believe there is a reason why we pay tax, well the government made sure of that which is to their own knowledge. If the government could deduct tax from your regular fiat then I am pretty sure there is a way they will go around it in Bitcoin. If they can't find a way to do that,  the that is why most of them in some countries ban bitycoon, simply because they haven't found a way to check on people earnings.

[tarable]

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. the tax is also important, let us think. the country's money can be collected from what is trying if not tax. let alone people who experience a difficult economy, so taxes are also useful to help them.

[Baofeng]

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. the tax is also important, let us think. the country's money can be collected from what is trying if not tax. let alone people who experience a difficult economy, so taxes are also useful to help them.

But the only problem I'm seeing with Tax is that they really need to go to the right place and not on someone's else pocket. I have no problem with tax, but I do hope that the money collected will be channel to more appropriate projects by our government.

Let's look at how Japanese Government is coping with bitcoin, its everywhere legal tender on their country, but they are being tax as well and we haven't seen the negative impact so far.

[ModGirl]

Then we dont need cash, credit cards in our wallets,  we only need  a phone and internet connection.  You dont need to fall in line when if your cash is short.  Bitcoin makes our payments more easier.

All those are the things which makes us think that we really need a society which live as only digital currency holders, you can carry a lot of bitcoin in your wallet and no one will know about it and it will not put you in danger by the hand of thieves but carrying a lot of cash can cause high danger for you , you can travel all over the world with bitcoin if bitcoin is acceptable for all kind of transaction, it will be really easy to pay and safer to keep.

[neonshium]

Funny question. You want to know how it’s going to be with Bitcoin being accepted only instead of fiat? Okay this is it– first of all, all the beggars you see on the street will die because nobody will be able to give them money for food since there is no way for them to receive (though not all of them will die lol) next, when you enter taxi and about to pay the driver, you will spend your whole time sending Bitcoin waiting for it to be confirmed before you get down from the taxi, same thing applies to when you go to buy food and other stuffs, waste of time… In fact, no need to go further.

[Betwrong]

Funny question. You want to know how it’s going to be with Bitcoin being accepted only instead of fiat? Okay this is it– first of all, all the beggars you see on the street will die because nobody will be able to give them money for food since there is no way for them to receive (though not all of them will die lol) next, when you enter taxi and about to pay the driver, you will spend your whole time sending Bitcoin waiting for it to be confirmed before you get down from the taxi, same thing applies to when you go to buy food and other stuffs, waste of time… In fact, no need to go further.

You know yourself that the beggars will no die. There are many other opportunities to give them food apart from giving them money(which they spend on buying alcohol and drugs in some cases btw).

But I want to show you that you were wrong on the taxi either. Imagine a situation when a taxi company, Uber, for example, creates official site where users can deposit $100 worth of BTC and then use it for their rides. In this case transactions would be instant regardless of the current speed of transactions on the blockchain.

This same approach can be applied to other business dealings like buying food, stuff etc.

[reverseflash]

Believe, the state will always find a method to gain the income. A typical example - Belarus and a tax on parasitism.

[muddy waters]

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

They would find a way to pay taxes with bitcoin.
For example, if an employee gets his salary in btc, some fixed amount (say 15%) will be withdrawn from the sum to be paid.
And this could easily be tracked by every government, which could impose penalties on employers that do not follow this rule.

[GregH37]

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

You are responsible for paying your own tax and as long as you do not do that, you are definitely going to have to face the tax evasion law. Sure, you may think it is going to be easy with the pseudo anonymous nature of bitcoin, but one way or the other, for a developed system, there are certain things that you will end up doing that you can still be caught. Moreover, have you not noticed that when you pay something via the POS terminal, there is a tax levy attached to what you are purchasing?

[vqscyxuo]

In the future, bitcoin will surely be adopted in large numbers, and maybe more altcoin will be combined with many industries. But we don't need to worry about government taxes. They can levy taxes on your wallet.

[gamalzour]

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

You made my day...
Bitcoin just broke whole goverment yeah? Because they can't tax businesses which use bitcoin? Cmon man, if things would be like that, believe me, bitcoin could be more widely used than fiat because no one likes paying taxes and while people do dirty job in order to hide incomes, if there was bitcoin as a legal way, business owners would make you to turn into bitcoin in any way for their sake.

I want to actually believe that they will find every means to make sure that things are limited in a way, and every business may have to end up using an exchange account tied to however they want to receive payment to be able to conclude any transactions, which is basically on the business part now. With respect to individuals, really, only rich people and business men should be paying tax, and moreover the VAT we pay on goods we buy is enough anyway.

[Uno17]

Hypothetically, it’s good also if it happens, advantage to the early bitcoiners because they have already step up in bitcoin community, they already know at least the movements of bitcoins, if it happens one day it will give convenience to bitcoin supporters and maybe attracting people to join bitcoin because it is more useful to anywhere in any use.

[napi]

yes we have to help bitcoin and support bitcoin to be used in all places and in all countries so bitcoin can become famous and bitcoin can be very expensive because many use bitcoin.