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

[Ewox]

You may not be paying taxes when using bitcoin now but once you place them in your bank account and once bitcoin is legalized or regularised then we will eventually pay taxes with them. The government will find a way or make a way for that to happen for sure.

[CarnagexD]

Before this happens bitcoin also need to be accepted by all forms and sectors of government or businesses all over the world. Because being termed as a universal currency also needs support not only by the users but also from the merchants, business and the platform it could take on transaction and investment to. It could rather be a multi purpose currency that a universal one if it fails to be accepted by all. But i think it is always good to see bitcoin to be a universal crpytocurrency in the future.

[Glorypaasa]

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 think if that happens the government will make a move to put more regulations or maybe they can ban bitcoin for good but I think the government will not allow this to happen because in the first place they don't even know how to put a proper tax to the bitcoin users and it's hard to identify who are the bitcoin users.

[jmigdlc99]

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

Taxes can always be redesigned to take payment from the seller. You can have an item sold at $100 where $25 is actually tax which goes to the government straight away. They would probably require some smart contract embedded in all retail POS systems. Hopefully this will also cause them to tax us less because of all the innovations in finance which result in lower operating costs throughout the government.

[giarised]

Because the income of the majority country of the tax to be paid the population so the state should be able to provide an opportunity for the population to start investing in bitcoin in order to earn additional income every time.In addition to selling an item to foreign countries including one of the ways the state to receive income.

No doubt that the majority of the country’s income is from taxes but still people don’t are doing favour to the government because tax is the right of the country and every person of the state should give it to the government for the farewell of the country. If people are paying taxes, that doesn’t mean that they owe the right to have bitcoins allowed because it needs a proper procedure to be allowed in any country.

[KorakPawon]

You may not be paying taxes when using bitcoin now but once you place them in your bank account and once bitcoin is legalized or regularised then we will eventually pay taxes with them. The government will find a way or make a way for that to happen for sure.

it's true that taxes will arise when bitcoin has been used wherever it is for the security and profit of each country not only that the use of banks will be reduced because bitcoin wallet available only requires internet only if it happens then the use of conventional currency will also decrease or even disappear .

[1Referee]

You may not be paying taxes when using bitcoin now but once you place them in your bank account and once bitcoin is legalized or regularised then we will eventually pay taxes with them. The government will find a way or make a way for that to happen for sure.

It's a common misconception that if governments haven't legalized or regulated Bitcoin, that you don't have to pay tax. Bitcoin in all cases holds value, and regardless of what the status of Bitcoin is in your country, there is always a category you can fit Bitcoin into. It's the government we're talking about; they won't ever allow you to have one single tax advantage, period.

In the tax form there is even something that I call a dump corner, where everything that isn't mentioned explicitly, or you don't know how to properly declare it, you can have it be subject to tax in that category. There is literally no way to legally game the system. Governments have had centuries of past history to set up a proper and working tax system. Governments are more mafia than the actual mafia itself.

[MrAntonius]

I think you are exaggerating too about the payment bitcoin. I believe that the payment will be universal wallets of many coins. For example, the Ethereum NEO wave, etc. with a speed of 5000 000 transactions per second. That will greatly exceed bitcoin transactions or perhaps Visa and master / Bitcoin will remain crypto gold, as the asset of which is a good storage and multiplication of money.

[btc78]

You may not be paying taxes when using bitcoin now but once you place them in your bank account and once bitcoin is legalized or regularised then we will eventually pay taxes with them. The government will find a way or make a way for that to happen for sure.

What do you want,paying taxes or banned bitcoin?even in regular work that we earned smaller than what we got here is were paying taxes so it would be better paying here in cryptocurrency our taxes.

I think you are exaggerating too about the payment bitcoin. I believe that the payment will be universal wallets of many coins. For example, the Ethereum NEO wave, etc. with a speed of 5000 000 transactions per second. That will greatly exceed bitcoin transactions or perhaps Visa and master / Bitcoin will remain crypto gold, as the asset of which is a good storage and multiplication of money.

Op is not exaggerating instead hes being realistic on what are we looking for future,because the main coin that will be using then is this Bitcoin and altcoins is just secondary

[Sled]

I think you are exaggerating too about the payment bitcoin. I believe that the payment will be universal wallets of many coins. For example, the Ethereum NEO wave, etc. with a speed of 5000 000 transactions per second. That will greatly exceed bitcoin transactions or perhaps Visa and master / Bitcoin will remain crypto gold, as the asset of which is a good storage and multiplication of money.

I agree to that. There is a lot of coins to choose from to be used as a mode of payment and that is why we should not just focus and put our money in bitcoin because there are coins in the market that have the potential like bitcoin and they are just waiting for you to be discovered so you better do some research and find the other coins aside from bitcoin and add them to your portfolio because they might be the other coins that are good for payments.

[paparexon0414]

Well that will be at ease. The era of new world is beginning that is why this might be very possible. But if you ask for taxes, we will still paying for it. All the products we buy hav e taxes, they put it and they will pay it to the government. So we have no excuses in paying taxes. Its so nice to experience that kind of possibility someday. Everyone can pay using only their phones without thing if they have enough money in wallet.

[Altf4]

When supposed the bitcoin will became universal, and it is used whever you go , that is the best thing to happen for the cryptocurrency ,because where ever you go bitcoin is being used, so we have no more problems bringing fiat money for exchange, because it is universal life could be easy going around the world with one currency used.

[denny27]

Bitcoin indeed have potentially been a currency that's universally used and used in everyday life, but in my opinion because its existence exists only in cyberspace., it will not really be able to replace the overall fiat. I think this would be the only alternative, and if the country responds well to bitcoin, of course the tax preparation certainly will be applied in bitcoin or in fiat after cashing it out.

[BelieveInBTC]

The taxc problem is the main reason some governments don't like Bitcoin. They will lose almost their whole income because of cryptocurrencies. However, there should be a solution to that, but to be honest I don't have any idea how this could be solved. If the transactions are almost anonymous then it will be really difficult to charge taxes or know which person is evading paying them. It won't happen in the next few years but we have to start thinking about it.

[slyfox]

There are only two possibilities, first that the scenario you are presenting never happens, after all no government can survive without taxes and the developers of bitcoin will never allow that in the code, the second scenario is that happens and governments will need to learn to exist without taxes, so governments will have to be very small compared to what we have now.

In both cases it's not viable for the government. Theoretically they could survive without tax income, but it would require them to be productive on their own, and not many countries work like that.

The system is largely build up to use every entity in the economy as cash cow, which is something that has been going on for decades now. I don't ever think the government will change a working system.

The mass will follow the government's path, where the few brave and smart people will look to distance themselves from it. Governments know that, and as long as they have the sheeples (the mass) following them, they are secured.

It is not viable you are completely correct on that but in the past governments used to survive without taxes but were a lot smaller and I think there are two possible things could happen the governments keep getting bigger and if that is the case then your bitcoin holdings will be taxed like anything else, or governments become smaller and they do not need to tax bitcoin anymore.

[Kiweikoo]

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. 

Well, this is the reason why regulation will be the norm of the day with the usage of bitcoin and taxes will be imposed on its usage and this is one certain thing we cannot run from if we really want this space to evolve.

As long as the government is benefitting from those taxes and people are seeing the need where decentralization pays at the end, a lot of interest will start developing for the usage of bitcoin and that is where the growth and mainstream adoption will even start from.

[patarfweefwee]

Essentially you will still pay taxes. You have to declare your income and crom that income includes income coming from crypto currencies. Now if crypto currencies are adopted then taxation will also follow it. Crypto currency goal is to decentralize currency so no one will have control over the value of money.

[Aamir1]

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 earning can be taxable and you are not going to have much problems outside availability of internet for day to transactions.  I think our governments incurred Alot of cost by investing into the products of fiat money and bitcoin can eliminate such cost. 

Governments will also accept bitcoin in the future, because as I know first they study blockchain technology and when they realize that the future is that of cryptocurrency they will allow their people to trade in bitcoin legally. On the other hand if government does not legalize bitcoin people can never use bitcoin in local markets for their daily needs.

[tabas]

Most countries are depending on taxes so it's going to make the survivability of the country lesser and can make the citizens suffer.
But bitcoin profits are taxable and they may implement to the people who are earning through to declare their income.

[Lorna111]

It will be great for us, we can easily buy everything and we can used btc in any countries, but it won't be too good for the country, the government need to arrange well so there is no tax evasion, and it also need to be controlled so crypto usage cant caused another inflation to the country, the best way to settle this one is to set up regulations

It will be a great thing to happened once Bitcoin is accepted globally, If the global financial market accepted Bitcoin as mainstream currency then the issue on Regulation is already address, the benefit we see now is an indicator that the future of crypto currency trading is more acceptable to the growing investors coming in the trading market. i am looking forward that the Digital Ages is the thing in the future market trading.