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

[neonshium]

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.

Obviously, would be the best thing for everyone in this space presently and the whole world at large but in that case, I am sure the only way that would ever happen is seeing the government regulating the space and benefitting hugely as well from tax payers to develop the economy.

This is the reason I will always we cannot in anyway run from regulation. It is either we accept it and there is a peaceful co-existence, or we do not and there is a war which we all know it is pretty impossible for us to win.

[tbterryboy]

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

Government will never stop being intrusive and as long as the space keeps doing well without them getting any benefit from it or pretty much affecting the economy as a whole, then a lot of things will start coming up with hard measures against the space. As you have mentioned, taxation by then would have become a normal thing which everyone would have gotten used to and the FUD we keep having now would have subsided and by then, I can imagine what the value of bitcoin would be like.

[7Dyoknga5]

It will be possible if cryptocurrency is recognized by the government. It will be a long process as not all people are aware of its use as well as the potential problems it might have.

Of course regulation of the cryptocurrency by the government will be needed before it will be recognize in which many of the users are separted. Most don't agree on crypto's to be regulated.

[HeartDesire]

The fundermental challenge of bitcoin and it's users is Tax & regulation we can't shy away from this reality, every country survives on Tax apart from their mineral resources. If bitcoin becomes universal today Govt will be forced to come in, it will bring development to many countries and the rate of poverty will drop in our society.

[EtherATM]

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

Probably if so, it will bring us a big benefit with using bitcoin for payment. We can use for paying goods, services or that sort of thing. Generally, when bitcoin is accepted in most parts of the world, it will help people solve many fanancial problems. However, when bitcoin is supported worldwidely for payment that we will have to pay tax like fiat currency. It’s much more possible, because we all know that most of governments try to  prevent people from using bitcoin, they will never let bitcoin be used easily or without tax.

[yvesp110]

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.

No doubt that the tax do plays a very big role in maintaining as well as for the survival of the country and if the people will stop paying taxes, the government would have to suffer a lot and in result the people will suffer. If the people will start earning through bitcoins, the government will get tax in bigger amount because the people will earn bigger profits so they will easily pay heavy taxes.

[Surge_Dev]

As in any monetary system in the world, it has its own emission center, which generates "coins" and is ready to change them to the currencies that we are accustomed to. anonymity of your deposits and transfers is the main feature of all crypto currency. There is a sender and there is a recipient, and between them there is no intermediary in the person of the central bank.

[slyfox]

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.

I do not know how the budget of the governments of your country is distributed but in my country most of the budget goes towards maintaining the government, social programs and health programs, when in reality the last two things are not a responsibility of the state if you were to cut most of that funding governments could operate with 60% to 80 less taxes.

[Hazaki]

I don't think that this could be possible at all because bitcoin isn't the currency that'll be able to fit such a huge demand . We didn't yet reach the whole 21M coins in terms of mining and even if w reach them , people around the world think that at least there are 4 to 5 Million coins that have been lost / burned in transactions / stolen / stored in cold storage or blocked accounts such as MtGox's one . So in order to use a currency on a daily basis and on worldwide , you need a currency that hasn't a number limit and that is regulated by a centralized 3rd party that will ensure that all the countries get their taxes in one way or another , and this will be contradictory to the purpose of the blockchain technology and cryptocurrencies in general , thus it's very unlikely to happen .

[Kelvinid]

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.

I do not know how the budget of the governments of your country is distributed but in my country most of the budget goes towards maintaining the government, social programs and health programs, when in reality the last two things are not a responsibility of the state if you were to cut most of that funding governments could operate with 60% to 80 less taxes.

I think the projects are just the same with my own country.If bitcoin will be universally used,i'm sure the government will find ways how to get taxes from those bitcoin users,maybe from the employer itself,taxes are already deducted from our salary.Or if self-employed,we should be responsible enough to pay our own taxes.

[Ulan01]

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

the state's economy depends not only on the income tax of everyone. there are many more that can be used. so not so influential on him. but the government will not let it go, and I think the government will make arrangements with the crypto currency especially bitcoin.

[spyerf]

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

the state's economy depends not only on the income tax of everyone. there are many more that can be used. so not so influential on him. but the government will not let it go, and I think the government will make arrangements with the crypto currency especially bitcoin.

but I think that is enough to affect if all residents do not pay taxes, because the population in one country is not small. and it is true that the government will make system arrangements for its handling, so that its economy will remain stable.

[DaftAjax]

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

A country will still survive, you wanna know why? Because the government will either regulate it or ban it. So if you're lucky and your country only regulates cryptocurrencies then you'll be fine, but you will still pay your taxes. I think taxing is a system that let's you become a citizen of that country, so whether you're employed or not you will still be taxed.

[Digital_Lord]

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.

Bitcoin popularity is already increasing too much, now we can see that even in backward countries people are using bitcoin for different purposes, I am sure that in future bitcoin will be the main currency of the people and they will be using it for everything for which they are currently using fiat currency.

[elkafee79]

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 the government can not manipulate Bitcoin to affect their own economy and inflame it to make their bills effectively smaller. They will give up enormous control. Because Government can not cotroll bitcoin over.

[farosa]

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

Undoubtedly, if governments accept it as paying bills, getting salary, shopping, restaurant etc, we have to pay the same tax. So humanity can not live without control, now we can see this as Bitcoin's fall. If there are governments, their promise is enough for the price to be 50k.

[cryptokia]

It is going to be not very different, from what it is now, because I pay everywhere I go with single card, so it will be bictoin, maybe on my ledger instead of a card I use for now.

[Aleh777]

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 would love to accept it. But I wish because of mass adoption bitcoin value should not remain stable as like other fiats. The value should be fluctuating and such move should be thrilling everyone. Such environment would boost up many more to use more crypto currencies.Fiats circulation will be affected but the concern countries economy would be moving positively up right. Let's hope for this adaption very soon.

[jonatuzc]

It is going to be not very different, from what it is now, because I pay everywhere I go with single card, so it will be bictoin, maybe on my ledger instead of a card I use for now.

But you would be able to make some swift international transaction then which might be cheap and would not cost you much. I believe Bitcoin can become the international currency and that way, it will expand more and will make lives easy for people to use their coins in any part of the world. They would not need to convert their currency into another when traveling abroad. There are limitless possibilities.

[ngano ba]

If it will really happen that bitcoin became universal and used everywhere ,then it is good for bitcoin holders around the world , whenever, whereever the bitcoin holders go they do not need currency exchanges because bitcoin can be used anywhere else.So you do not have to carry money because bitcoin is universal currency.