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

[pant-79]

The widespread adoption of Bitcoin doesn't at all force the entire world to give up absolutely all standards adopted in a long time.
If it is about the fact that Bitcoin will replace absolutely all the money in the world, that I assume that everything with taxes will remain as well. If you received payment for work in Bitcoin, then you must pay the appropriate tax. The movement of Bitcoin in this case is not difficult to track: Bitcoin entered from the employer to the employee, so the employee must pay the appropriate tax.
But the scenario of such a future is unlikely, since Bitcoin was originally created as a protest to the banking system and it is not known by whom, so it is unlikely to be accepted for use as a world currency. For these purposes, another currency will be created, one that may be controlled completely.

We can encourage people to used Bitcoin but we cannot force them to adopt it because nowadays most of them have mindset that cryptocurrency is scam or when it comes from in technology they have mindset that it is not trustworthy. Also the other problem not all country can adopt Bitcoin to used because some of them are banning their people to used it.

That's right, now the reality is. But the OP is not interested in what is happening now. He wants to figure out how everything will be arranged in the future, if Bitcoin is accepted, as a universal currency for the whole world.

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[omegasoldier]

Bitcoin can never substitute for traditional fiat currency.
It was designed for different purpose and can hardly fit requirements put forward to fiat currency. If anything, there should be some new Cryptocurrency that will fit society needs and it will not be Bitcoin.

[Roukawa]

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 is very nice! If I can use my bitcoin wherever I am, wow! Its techie. In my case, it is not a hassle for me to scan QR code and pay using my digital wallet. I can use it because  already study about cryptocurrencies. What about other people? I think it is good if everyone really knows it before bitcoin will become the way of payment all over the world.

[zoeylee]

I think if it would happen that bitcoin become universal there would be a huge adjustment in terms taxation. We know that bitcoin transaction is anonymous to anyone so taxes would be hard to implement. So, it must have regulation but i think it's hard for bitcoin is a decentralized.

[nasipadang]

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 bitcoin is used then there will definitely be tax, that you already know if there is no tax, the government revenue will go down and it cannot be adopted, if bitcoin can be used as a payment tool, there will certainly be regulations regarding tax using bitcoin.

[automaticmoney]

as per twitter ceo statement bitcoin will be internet only currency and even snapchat founder to said the same bitcoin will be major internet currency for online payments

[pant-79]

The widespread adoption of Bitcoin doesn't at all force the entire world to give up absolutely all standards adopted in a long time.
If it is about the fact that Bitcoin will replace absolutely all the money in the world, that I assume that everything with taxes will remain as well. If you received payment for work in Bitcoin, then you must pay the appropriate tax. The movement of Bitcoin in this case is not difficult to track: Bitcoin entered from the employer to the employee, so the employee must pay the appropriate tax.
But the scenario of such a future is unlikely, since Bitcoin was originally created as a protest to the banking system and it is not known by whom, so it is unlikely to be accepted for use as a world currency. For these purposes, another currency will be created, one that may be controlled completely.

Tax has absolutely nothing to do with Bitcoin and I'm still amused at how people think using Bitcoin relieves you of that entirely social duty to contribute to your own society's and country's development and maintenance. Whether or not your state misuses or abuses that revenue is an entirely different matter - if you choose to live within the borders of a state, then you choose to be governed by its laws, and are required to make your own contribution to its upkeep with your money. Your money being Bitcoin doesn't change that.

That is what I'm talking about. The adoption of bitcoin doesn't change the generally accepted everywhere norms. And if you legally need to pay tax, then it just needs to be done. And in this all the main thing is that the country in which you live oblige you to do this or not.

[Pab]

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

Let's suppose that Bitcoin became adopted everywhere So it is only suppose and will be for just theory for very long time as for now Bitcoin is not so much accepted but most people has to pay taxes for bitcoin trading
Something not correct to me. Govs don't want to legalese bitcoin in any way but they are taxing us
In my country i can buy almost nothing with bitcoin and same is in most of world countries

[aeternus]

Bitcoin can never substitute for traditional fiat currency.
It was designed for different purpose and can hardly fit requirements put forward to fiat currency. If anything, there should be some new Cryptocurrency that will fit society needs and it will not be Bitcoin.

And what do you think that fiat has that bitcoin doesn't have and that is going to be impossible for bitcoin to get? Because the only problem that I see bitcoin having is that it is very slow compared to cash and that it cannot deal with a huge amount of transactions but as we know the developers are working very hard on solving those issues and will eventually solve them.

[automaticmoney]

more likely to become universal currency we may dream of future Bitcoin may be  internet currency where every internet purchases happen with bitcoin we may see this happen soon by 2020

[pinoyden]

The widespread adoption of Bitcoin doesn't at all force the entire world to give up absolutely all standards adopted in a long time.
If it is about the fact that Bitcoin will replace absolutely all the money in the world, that I assume that everything with taxes will remain as well. If you received payment for work in Bitcoin, then you must pay the appropriate tax. The movement of Bitcoin in this case is not difficult to track: Bitcoin entered from the employer to the employee, so the employee must pay the appropriate tax.
But the scenario of such a future is unlikely, since Bitcoin was originally created as a protest to the banking system and it is not known by whom, so it is unlikely to be accepted for use as a world currency. For these purposes, another currency will be created, one that may be controlled completely.

Tax has absolutely nothing to do with Bitcoin and I'm still amused at how people think using Bitcoin relieves you of that entirely social duty to contribute to your own society's and country's development and maintenance. Whether or not your state misuses or abuses that revenue is an entirely different matter - if you choose to live within the borders of a state, then you choose to be governed by its laws, and are required to make your own contribution to its upkeep with your money. Your money being Bitcoin doesn't change that.

That is what I'm talking about. The adoption of bitcoin doesn't change the generally accepted everywhere norms. And if you legally need to pay tax, then it just needs to be done. And in this all the main thing is that the country in which you live oblige you to do this or not.

Generally accepted anywhere ? No thats not true . bitcoin is not yet adopted globally because there are still other countries that bans the use if it and there were also people that refuses to use it even if bitcoin is not banned on their place  .

You were also talking about tax ? but why ? I mean bitcoin or any other cryptos cannot be possibly taxed due to the fact that they arent regulated by banks or governments  , etc ...  There is no point of paying a tax just because you are using a bitcoin and besides , how can you be so sure that the tax that you pay will be going directly to the implementation of the city's project when we all know that goverment officals are corrupt.

[Crafts12]

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 bitcoin will be adopted and use anywhere and anytime worldwide or in my country, I think the government will put tax on it due to the massive use of it. Governments will not allow the mass usage of it in paying system if it will not have tax because where will they get funds to build public institutions or buildings?

[katerinaliisa]

I think that in this case the goods will be very expensive. In General, I think that the Fiat currency is still needed. If it is removed in the near future, the economy will have big problems.

[chenhaonan]

The idea of ​​using cryptocurrencies is not to evade taxes. This view is wrong. I invest in cryptocurrencies because I think cryptocurrency is a true free currency and he won't depreciate your coin because of your bank. This is the biggest advantage of cryptocurrency. You can observe all the countries in the world. The government often makes large amounts of banknotes to stimulate the national economy, which will lead to a reduction in your wealth.

[jonsky05]

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

Well it will be great if that happen because it will not hassle for us but we need to think somethings to be considered if the decentralize will occupied all of in our lifes like salary and etc. And it's a very long discussion and many things will be need to consider.

[GrayFullbuster]

If the bitcoin became universal currency where most of the people are using it, then the payment system will not become hassle anymore. Through blockchain technology,  the transaction of every payment are fast than before.

[Koenraad Lange]

more likely to become universal currency we may dream of future Bitcoin may be  internet currency where every internet purchases happen with bitcoin we may see this happen soon by 2020

If that happens, of course the bitcoin owner is very happy because wherever bitcoin can be used. It may take a long time to arrive at such conditions, at least one or two decades to come. It is also assuming that all countries are willing to accept bitcoin, of course, after experiencing modifications from the rules agreed upon by all countries.

[resty]

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 know all things must be be changed for a better future, if ever bitcoin become primary use for the entire world I don't believed that they do not do anything for better service to people of course there is some changes of the feature of bitcoin to serve better to people. Our experienced now is to try how bitcoin works to our life but if gods well bitcoin become primary currency many different options to change this to the purpose of all people would benefited this BITCOIN CRYPTO CURRENCY.

[deppil]

I am confused after reading your post. From what I can intercept, you are saying that use of crypto will completely eliminate the taxes. But I believe that if we have global acceptance of crypto, it will bring more transparency in tax system.

Also, how can you assume that a country will legalise crypto without judging or analysing the merits and demerits in relation to taxation part.

before there is a clear regulation, of course this can eliminate taxes in every investment, but if there are regulations from government, i think government also does not want to lose

although bitcoin can indeed be used anywhere by anyone (universal) but without regulation. bitcoin will never be (officially) universal. and to reach the regulation itself is not easy for bitcoin you know.

[biletskiy]

Bitcoin can never substitute for traditional fiat currency.
It was designed for different purpose and can hardly fit requirements put forward to fiat currency. If anything, there should be some new Cryptocurrency that will fit society needs and it will not be Bitcoin.

No, it cannot replace fiat, but I can admit that in 5-7 years, the cryptocurrencies will be used ion most places, including the land stores (not online shops only). For me, it will be very convenient.