Bitcoin and Economy

[Philcris]

bitcoin is part of economy bitcoin is a money that can help to lead you to a bright future.

[DOLONCHAPA]

Bitcoin is virtual coin. The world is now moving to virtual and every international marketplace going to be dependent on bitcoins. Clients and workers use bitcoins for paying and buying. So I think there will be more people using bitcoin in the recent future .So bitcoin and economy are interrelated. So  government will have some measures, perhaps first to tax the exchange, and then tax your encrypted money purse. So it should be exchange within a rules and regulations of economy

[Keyboard PC]

bitcoin and the economy have not been able to walk together, because I see bitcoin has not had a very high trading volume that makes bitcoin very difficult to affect the existing economic conditions.

[Bakemat]

We all know that the development of a certain country comes from the taxes of its citizens, and we all know people who engage bitcoin don't pay taxes to the government, what will happen to a country where 80% of its citizens engage in cryptocurrency?

There is a big possibility that this things might happen In the future because bitcoin is growing faster and very known today.

I think peoples still paying taxes to their government. If peoples buying goods with cryptocurrency, we know that goods already put VAT and thats means we paying taxes from our transaction.

In my own opinion, bitcoins can actually improve the economy of a country if the government will just allow cryptocurrency on their country, just like what japan is doing right now in their own country.

[Epimetheus]

We all know that the development of a certain country comes from the taxes of its citizens, and we all know people who engage bitcoin don't pay taxes to the government, what will happen to a country where 80% of its citizens engage in cryptocurrency?

There is a big possibility that this things might happen In the future because bitcoin is growing faster and very known today.


[/quotes]
Tax is important thing for a development of a country. But bitcoin user does not pay tax to their government because it is a digital currency. And this thing ultimately put bad affect in an country economy growth. Bitcoin also affect an country's economy by affect the national currency value at international market of that country. Bitcoin is decentralised currency and this is the one of the reasons behind bad economy. Sometime bitcoin is helpful for an country economy by reducing the unemployment issues in their country 

[supercanada1]

Today, many central banks are closely following Bitcoin's development. Some of them even proposed a digital version of their currency. For example, the central banks of Canada and Ecuador are among the first to study such opportunities.

This is an indication of lively corporation who emphasizes on reach and development. There are hundreds and thousands companies access over the world but only few of them have succeeded to know about what bitcoin is and how this one coin is profitable for them. Right now, as you have said, such economical centers have legalized and catered bitcoin and it would be a best source of economic growth.

[ylnar123]

Today, many central banks are closely following Bitcoin's development. Some of them even proposed a digital version of their currency. For example, the central banks of Canada and Ecuador are among the first to study such opportunities.

This is an indication of lively corporation who emphasizes on reach and development. There are hundreds and thousands companies access over the world but only few of them have succeeded to know about what bitcoin is and how this one coin is profitable for them. Right now, as you have said, such economical centers have legalized and catered bitcoin and it would be a best source of economic growth.

That is indeed a good indication that maybe someday the bank's would accept Bitcoin as part of the economic growth aside from Fiat money. They should realize that Bitcoin should not be a threat to them but instead make it even more profitable.

[bobbyjonathan]

A country that will accept to study cryptocurrency market, embrace it and adopt it instead of fighting it will encourage her citizens to make investments which in turn will aid circulation of money into other sectors of the economy and thus citizens will still pay their taxes in one way or another.

[HiamPlutooo]

We all know that the development of a certain country comes from the taxes of its citizens, and we all know people who engage bitcoin don't pay taxes to the government, what will happen to a country where 80% of its citizens engage in cryptocurrency?

There is a big possibility that this things might happen In the future because bitcoin is growing faster and very known today.

"For starters, it is difficult to determine the fair value of the bitcoin on purchase and sale transactions. Bitcoins are volatile and there are huge swings in prices in a single trading day. The IRS encourages consistency in your reporting; if you use the day's high prices for purchases, you should use the same for sales as well. Also, frequent traders and investors could use "first in, first out" (FIFO) or "last in first out" (LIFO) accounting techniques to reduce tax obligations. (Refer to the Bitcoin Tax Guide for a detailed explanation of issues in Bitcoin Taxation and reporting.)"

Read more: Are There Taxes On Bitcoins? | Investopedia https://www.investopedia.com/articles/investing/040515/are-there-taxes-bitcoins.asp#ixzz5J6J4mV28

[maraclariss14]

if bitcoin has been legalized the possibility of every individual involved in cryptocurrency will be taxed, and if so, then bitcoin price will soar I guess. And bitcoin have made financially better changes

Yes Bitcoin and Economy are two different things , but also it can b merge by accepting bitcoin as one of the major currency of a certain government, Bitcoin has a potential to improve the economical growth of a certain country it provides services that can help the government as well as the society itself, Bitcoin has a lot to offer from crypto, If the government legalize this method, Im sure it can build a better world for us.

[Sakash]

Bitcoin plays an important role in the economy. Bitcoin usage is increasing day by day. And as a result the economy is being released.

[Lenzie]

We all know that the development of a certain country comes from the taxes of its citizens, and we all know people who engage bitcoin don't pay taxes to the government, what will happen to a country where 80% of its citizens engage in cryptocurrency?

There is a big possibility that this things might happen In the future because bitcoin is growing faster and very known today.

It is not just the tax of people that pays, it is also the business of people and huge company. The government has a lot of business where they get their income not just people's tax.

The government is in action nowadays. Sooner or later they will already find a hole on which where they'll find a way to earn from it.

[heldertb]

We all know that the development of a certain country comes from the taxes of its citizens, and we all know people who engage bitcoin don't pay taxes to the government, what will happen to a country where 80% of its citizens engage in cryptocurrency?

There is a big possibility that this things might happen In the future because bitcoin is growing faster and very known today.

I think peoples still paying taxes to their government. If peoples buying goods with cryptocurrency, we know that goods already put VAT and thats means we paying taxes from our transaction.

it's an universal truth like as many countries developed from their internal or external taxes,we all know  if where there 80 percentage people engased in crypto currency there is without taxation system is bad for there's economics conditions.

[hardrockstar]

Of course know your costumer is the one requirements while you are entering in any business or applying job because this is to identify your own self and be trusted to go with any transactions.

[baconlike]

Bitcoin has had an impact on the economy since its inception, despite the small change in its economy, but at least it helped the manufacturers realize their ideas through chapters. Fund raising as ico

[Biggapp]

We all know that the development of a certain country comes from the taxes of its citizens, and we all know people who engage bitcoin don't pay taxes to the government, what will happen to a country where 80% of its citizens engage in cryptocurrency?

There is a big possibility that this things might happen In the future because bitcoin is growing faster and very known today.

I think peoples still paying taxes to their government. If peoples buying goods with cryptocurrency, we know that goods already put VAT and thats means we paying taxes from our transaction.

That is right about taxes. We pay the taxes in times of buying any good or service but there are also the income taxes and government would also love to have a part of the income you earn through Bitcoin. That thing maters a lot because the more you earn, the more tax you pay which is called direct tax. So what I want to say is that if government started taxing you for dealing in Bitcoin, it is going to be the ordinary market.

[khirul_i20]

Forum by the work of the US in some payment that. That Bitcoin known as. Such as BTC, ether, dollars in one of the most. Bitcoin the unemployed unemployment away. Which the economy role. Coins the sell that a lot of money is available. This money with any work can be as a result of the economy on pressure is reduced. And the economy of the impact of the rate of increase.

[setupbounds]

Bitcoin is the future of the economic and whatever that is happening now should be see as an opportunity  to get bitcoin and others cryptocurrencies at a very cheap price.  Many countries economic are in bad shape because of fiat and blockchain technology is doing well and many of our economic problems will be resolved.

Economy is based on simple economic rules which provide us a path and make grasp on the economy. If we follow the market rules and strategies then we will move forward towards success. On the other hand it will lead us to a terrific disaster and especially in case of a country if government makes poor economic decisions. We have seen countries started from scratch with the Bitcoin and now they are doing well.

[Raufjoze]

Before we can use bitcoin, we have to convert it to fiat first before we can pay our bills and by doing that, then there is the income. How can others say that bitcoiners do not pay taxes only because they are decentralized and can not be controlled or traced by the government? When in fact, bitcoin can not be used as bitcoin itself to pay for everything except very few companies

[mung_nasib]

If the majority of people in a country are able to invest in the world of cryptocurrency certainly boost their economy becomes more secure however,the government also needs to play an active role to make it happen so that the atmosphere becomes more calm when looking for income.