naily
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June 25, 2018, 08:07:13 AM |
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In addition to selling goods to foreign countries including one way the state receives income. Because the income of the majority of the country from the tax to be paid the population so that the state should be able to provide an opportunity for residents to start investing in bitcoin to earn additional income at any time
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Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
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slyfox
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June 30, 2018, 03:41:09 AM |
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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. They are trying new ways to try to get taxes out of people without them realizing it, but it is going to be impossible to get taxes out of bitcoin users once the adoption of bitcoin grows considerably and even if some governments could do that, it does not means all the governments will do the same, it is entirely possible a country appears where you are not charged taxes for your bitcoin profits and the only thing you need to do is to move there. |
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leostrong.mo
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June 30, 2018, 07:18:42 AM |
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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!
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microwave
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June 30, 2018, 08:45:57 AM |
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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
Yes that's true Bitcoin have no taxes yet, but we don't know the future of bitcoin what's the result of being popular is it Succeed? or not. That's the big question for bitcoin now, well for me according to my analysis I hope bitcoin is still in alternative source of income because if this is a primary use to all I think Low Class of Living will affected here because government stop support to the poor because no taxes income from bitcoin. |
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Popov_popov
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June 30, 2018, 10:09:29 AM |
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The state can earn on its own if it takes bitcoin and takes up its prey. And the people do not have to pay taxes and the state is provided.
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danyakotletkin2018
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June 30, 2018, 11:12:53 AM |
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This is the dream of all the fans of bitcoin. You can pay everywhere, perform various operations. I hope soon it will happen.
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Kris34
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June 30, 2018, 12:41:40 PM |
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This is of course great, but there are many nuances at once. Who will monitor and service everything, what will happen if the electricity is disconnected, as we will perform operations if there is no Internet.
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dongyi17
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FRX: Ferocious Alpha
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June 30, 2018, 01:01:08 PM |
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I think even if bitcoin is use everywhere, anytime there will always be taxes because those restaurant and other business establishment need to pay their due to government or else they will not be given permit.. and so as bitcoin is being used everywhere, anytime and became universal so is taxes too.
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Crypdon
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June 30, 2018, 03:01:34 PM |
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Governments can view the ledger but they don't know who the wallets belong to. Perhaps you would have to assign a wallet to your name in order to be publicly identifiable, and then pay taxes based on wallet income
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BitcoinMarketer39
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ADABsSsSsSsSSSsS
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June 30, 2018, 03:43:46 PM |
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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 bitcoins will become universal and government will be legalizing cryptocurrency then fiat will just become useless because most of the people today preferred to use bitcoins due to faster transactions and it is a digital currency that you can use to pay online. |
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Soneo
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June 30, 2018, 04:42:22 PM |
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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.
I think I would rather pay more for every product in the store, or to own real estate, than rob my percentage of my income every month. Not at all, they just have to adjust. Because it would be easier for people to hide income, the government should impose income tax (which is not fair anyway) and increase other taxes such as VAT. If there is no fiat (which I doubt will happen) and the world uses pure cryptocurrency, the government must raise money by imposing sales and property taxes. It used to be done this way and it's still done all over the world. |
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yoseph
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June 30, 2018, 04:49:22 PM |
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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 bitcoins will become universal and government will be legalizing cryptocurrency then fiat will just become useless because most of the people today preferred to use bitcoins due to faster transactions and it is a digital currency that you can use to pay online. The value is going to rise exponentially when Bitcoin does become used almost worldwide. Everyone will start to use bitcoins to pay for everything that they buy. |
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geegaw
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June 30, 2018, 05:21:23 PM |
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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 bitcoins will become universal and government will be legalizing cryptocurrency then fiat will just become useless because most of the people today preferred to use bitcoins due to faster transactions and it is a digital currency that you can use to pay online. The value is going to rise exponentially when Bitcoin does become used almost worldwide. Everyone will start to use bitcoins to pay for everything that they buy. I do not think the value will increase as you say, what I believe is probably a stability in value, this means that bitcoin will return to the most suitable price that the market can accept, volatility in that situation is very low, only so, the payment will become easier and more convenient. But the person with the most benefit is the government because this only happens when they have completely controlled and applied the tax on bitcoin, tax is never a pleasant thing to many people in the world Bitcoin, so I do not want this to happen |
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michellee
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July 01, 2018, 11:08:49 AM |
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I think the government will apply some taxes for bitcoin user and maybe they will make some regulation too. I think my country will still survive because they will find another way to solve this if this is a problem for them. I am sure that before they decide to used bitcoin as a new currency, they will study and will have the answer for this so when they integrate bitcoin with the system, they don't have any problem and it will run properly and they can still lead the country to the better life.
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meanwords
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July 01, 2018, 12:52:03 PM |
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That would actually be plausible though. Having Bitcoin in our daily lives would make it easier as using Bitcoin is a less hustle rather than using those fiat moneys that are easily manipulated. Imagine using a credit card that is made specifically for Bitcoin, that would be great. Regarding the taxes. We simply really cannot avoid the tax that the government will implement because there are a lot of ways for them to know more about you and that things that you are going to purchase when Bitcoin become a normal everyday thing and not as an investment.
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abc_crypt
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July 02, 2018, 06:07:50 PM |
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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.
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okissabam
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July 02, 2018, 06:43:26 PM |
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As of now we won’t be paying taxes when we use Bitcoin but in the future if and if it will become used worldwide regularly, the governments will eventually have to do something about it and will find a way for everyone to pay taxes. And the banks still are not taking away the taxes as well, so when you place your money there and you withdraw a certain amount; I think they do get taxed if I’m not mistaken.
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feehannah
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July 02, 2018, 10:20:53 PM
Last edit: July 02, 2018, 10:36:23 PM by feehannah |
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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
Wrong. If you pay with Bitcoin at a business, the business will collect the tax owing on your purchase (it will be part of the total price). If you get Bitcoin as income, generally the company you work for will remit the taxes to the gov't. If you don't pay your property tax, your property will be confiscated and sold for taxes owing. You don't have to worry about governments; they'll get their money out of you one way or another. If the government will impose taxes for any transactions with bitcoin,i think it will be good for us. One thing that most important of this,bitcoin will be legalized and freely to use it anytime,anywhere without any doubts in our mind. Also,taxes will be used by the government for many things like,concreting roads,providing public school facilities,etc. |
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mrcash02
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July 03, 2018, 12:52:08 AM |
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That would actually be plausible though. Having Bitcoin in our daily lives would make it easier as using Bitcoin is a less hustle rather than using those fiat moneys that are easily manipulated. Imagine using a credit card that is made specifically for Bitcoin, that would be great. Regarding the taxes. We simply really cannot avoid the tax that the government will implement because there are a lot of ways for them to know more about you and that things that you are going to purchase when Bitcoin become a normal everyday thing and not as an investment.
Yes, taxes can't be completely avoided. A shop would still need to pay taxes to exist, people would still need to pay taxes to toll roads on the highways to pass with their cars... Taxes would be still diluted on the goods prices like food, clothes, electronics, services, tools... Maybe just some abusive taxes would be avoided and then the society would have to learn how to live without them! (Decreasing the size of the state's machine for an example). |
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Hulh
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July 03, 2018, 02:46:26 AM |
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Bitcoin taxes could be added on the food and services you take. For example the Value Added Tax (VAT) is implemented in some countries so almost all of the citizens are contributing taxes anytime they are purchasing those services.
Exactly, you are right that bitcoin taxes could be added on the food and services everywhere and in every transactions. Bitcoin transaction is only the same as the paper bill or the current currency only that bitcoin is universal ,it also fast and easy transactions that is so convenient in this era. |
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