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

[gambitcoin53]

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

this will happen only when the price of bitcoin is stable and not so volatile, and when internet is accessible by every common people. since bitcoin transaction is digital, internet connection is a necessity. but if this would happen and be possible in the future, i think blockchain technology will be the prime trend in the future. if a country is very much developed like russia and other European country today, then bitcoin transaction will be the main mode of payments and purchasing method that will be in use. 

[BeGoods]

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

this will happen only when the price of bitcoin is stable and not so volatile, and when internet is accessible by every common people. since bitcoin transaction is digital, internet connection is a necessity. but if this would happen and be possible in the future, i think blockchain technology will be the prime trend in the future. if a country is very much developed like russia and other European country today, then bitcoin transaction will be the main mode of payments and purchasing method that will be in use. 

Nope, I'm not too concerned about volatility, because that's what many investors and users use to get a huge profit from bitcoin investments, besides bitcoin can be famous as it is today because prices skyrocket and it's because of volatility, bitcoin could become widely used later..

[kalawang]

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 is universal now you dont need to explain the future, and technology. I believe in science fiction is not a bubble cause rich, and technology in your savings. I believe in that bitcoin is not true if you have to think the best thing for those of cryptocurrency. Cause I don't know if you are not capitalism. Cause I support cryptocurrency not capitalism

[patrickj]

Well if that's the case, it's great additionally to know this will happens, we as an early adapters can have huge benefits because we definitely know in any event the developments of bitcoin, if others will came in, we should be happy as a supporters of bitcoin and perhaps drawing in individuals to join bitcoin in light of the fact that it is more helpful to anyplace that needs it for paying their bills.

[Burogh]

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 we are buying goods or eating on restaurant, we already paying taxes. We know that every goods sell on merchant have added taxes (VAT) more than 10% from the price. Government still get the taxes if bitcoin or cryptocurrency used as payment

[ufaiz50]

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 government imposes taxes not only on individuals who have certain criteria, but the government also apply taxes on businesses or products produced by the company, for example when we buy electronic goods we will surely be in taxes for government, in my country the largest tax revenue is business products not from individuals. so the example when we buy a meal at a restaurant even though you pay with cryptocurrency must have been added the tax in a bill and there is still the possibility of the country gonna survive if its citizens use cryptocurrency. The problem here is from what I see that the government will not accept bitcoin as a currency that is always used by citizens because they have FIAT that helps the country's economy and they can print FIAT.

[aoihs00]

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

Are you serious right now. That would be happiest dream or framework of reality! That will be the day when we will announce the digital world day! And also it can be very beneficial for us. You go anywhere in the world and you dont have to be hassling yourself for converting the currencies into the different world currencies. You can just buy and sell anything anywhere in their country, travel the same way as you would in your own country. Looks like everything can get settled very easily in the whole world, we can have easy life I guess.

[Sled]

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

Are you serious right now. That would be happiest dream or framework of reality! That will be the day when we will announce the digital world day! And also it can be very beneficial for us. You go anywhere in the world and you dont have to be hassling yourself for converting the currencies into the different world currencies. You can just buy and sell anything anywhere in their country, travel the same way as you would in your own country. Looks like everything can get settled very easily in the whole world, we can have easy life I guess.

It will be so great in the future if we will have that kind of world because having a digital currency like bitcoin where we can use anytime and everywhere is such a great achievement for us people who are in the cryptocurrency ever since it is just getting started. Digital currency is the future and the physical currencies will disappear because of their inflation rate.

[Nick Abimanyu]

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 are truly universal in a country, then the tax system will automatically apply, and this cannot be avoided by anyone, especially for most users including investors and merchants. But if every individual a state reluctant to pay taxes of course the wheels of government cannot run in accordance with its function, development will never happen, welfare and prosperity will be far from expected.

[jagdeepjd]

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

This is not feasible and probably not gonna happen anytime soon. The fiat currency will always be there and will always have its own value and uses. And we should also not expect such things too

[bitgov]

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

That will be like with normal money, with every transaction you are paying "tax" when you are shopping or paying bills, so goverments will made special taxes and take "more" from people when buying or something and shops for example will need to pay special part of bitcoin for transactions that customers done in period of time, for me that will work in this way.

[Topcarey]

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.

One day the whole world will accept bitcoin as their legal and regular currency because bitcoin is backed by blockchain technology and the coming era will be that of blockchain technology. We are looking the current situation that we are not paying taxes and bitcoin cannot hold the market until we pay taxes to government and they legalize bitcoin. Think of the far future.

[moshk555]

This is quite possible, right now according to the world bank bitcoin is being used by one in every six people around the globe that is more than a billion people with internet access, it is on the exponential verge of being adopted universally and when it does, it will promote globalization

[Daday23]

For sure for all the bitcoin community it is what were waiting for the legalization of bitcoin to used bitcoin everywhere and become accepted universal.But i dont think what will happen to the goverment if they can not get taxes from bitcoin.Tax is very important this is where goverment get funds for the salary of goverment employee,and many more.I think because they cant get tax from bitcoin they will do they will put tax on all product.

[jho0810]

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 I think more convenient for us if that happen but we need to consider the some circumstances because not all can't use btc. Actually some of are happening now like using bitcoin as payment and paying a salary in bitcoin it depends to the discussion of a employees and employers.

[Streamlink]

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.

Yeah absolutely right. This makes sense to everyone. Definitely to remove this deadlock some steps are about to be assumed from both corners. If bitcoin development team isn’t coming one step further and if governments aren’t getting one step back, how c. on this matter be solved.  So better is to make things good and for that compromise must be made with some good terms.

[gambitcoin53]

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

it cannot be, the price is highly volatile and unstable, imagine getting your salary for fix rate then suddenly the price of bitcoin fluctuates on a higher or lower value, it will be a big problem for the company, if govt cannot collect taxes anymore, the govt may collapse due to their expenditures that depends on consumer's taxes. may be this is way too far to become a reality.

[aliichaudhary]

I understand this as a concern, and this is why some countries still forbid crypto.
The government is afraid of losing taxes, maybe one day bitcoin and alt coin holders have to pay taxes.

[gnaylor]

The universality of bitcoin lies in the fact of its adaptability with nations but there is a drawback that when the currency becomes universal the countries in specific will be of less importance, politics will have not a relation with the economics affecting the country since that will be international,

[peacefulpeace]

thats the goal right? for bitcoin to be universally acceptable and used for transactions. lets forget the government they always know how to get their taxes. if that been tghe case, a new blockchain system can be developed that will make bitcoin taxable.