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Author Topic: Bitcoin and Economy  (Read 2542 times)
Soneo
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September 06, 2018, 06:20:22 PM
 #381

Now most people do not even know what bitkoyn is. When it turns out 80% of citizens, then the government will already come up with levers of management and levy taxes on trade with bitkoynym.



I think if bitcoin users don't pay taxes directly, they will pay it indirectly. More than the government can accept bitcoin completely and impose taxes on users even if bitcoin is decentralized.
Talking about tax involves a very broad discussion. there are two types of taxes, direct taxes and indirect taxes,
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Saldom12
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September 06, 2018, 06:42:09 PM
 #382

Bitcoin is the number one coin in cryptocurrency and bitcoin is very helpful for the economy of people in this world, especially those who use bitcoin.
rickyrich45
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September 06, 2018, 06:59:56 PM
 #383

Bitcoin and crypto money exchanges are affected by the world economy. but they are not completely connected to each other. crypto money is more like a parallel universe.
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September 06, 2018, 08:03:59 PM
 #384

Bitcoin is the number one coin in cryptocurrency and bitcoin is very helpful for the economy of people in this world, especially those who use bitcoin.

it has been proven that indeed bitcoin is the first coin and has provided an aid in the economy of each country, we do not need to doubt the advantages of this one bitcoin. because it's true.

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September 06, 2018, 09:29:07 PM
 #385

Now most people do not even know what bitkoyn is. When it turns out 80% of citizens, then the government will already come up with levers of management and levy taxes on trade with bitkoynym.



I think if bitcoin users don't pay taxes directly, they will pay it indirectly. More than the government can accept bitcoin completely and impose taxes on users even if bitcoin is decentralized.
Talking about tax involves a very broad discussion. there are two types of taxes, direct taxes and indirect taxes,

 That is true as there are certain bills like electricity and water that can be taxed, also consumables or goods can be also has tax like groceries and gas so your paying the tax indirectly. Yes it might affect some the government if people starts to not declare their taxes but remember that they can move the taxes in different things to compensate for the loss.
DianHER
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September 06, 2018, 09:43:18 PM
 #386

cryptocurrency is a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value. It does not have legal tender status in any jurisdiction. cryptocurrency that has an equivalent value in real currency,  Paying the tax man is relatively new for an industry built on anonymity and avoiding government control. For this filing season, many investors who have been trading for years will “come out of the woodwork” and disclose crypto on their returns for the first time.
jaysabi
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September 08, 2018, 12:45:57 AM
 #387

You're not going to get anywhere if you're trying to avoid paying taxes by transacting in bitcoin. The fiat exchange points are increasingly coming under scrutiny and the government we eventually be able to compel these companies to turn over transaction records. Anyone caught evading taxes is going to have back taxes, penalties, and possibly jail time to answer for. In the US, tax evasion has no statute of limitations, so the government can wait you out until they can eventually get the records. They're not going to go away, and it's just not worth the risk of the penalties you'll face when they eventually catch up to you.
Caotodoxunir
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September 13, 2018, 07:44:52 AM
 #388

That potential transcends to so many positive and ground-breaking changes in the market that it helps many local and global economies alike have a better business. The transactions that control the flow of money in the market, and basically helps it gain more circulation helps not only individuals but start-up business to gain more momentum that helps locals business to grow and expand.
drachman
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September 13, 2018, 08:48:16 PM
 #389

Taxes is a must, Even if the country has 100% of its citizens engage with cryptocurrency still we need to pay taxes. Taxes in cryptocurrency and taxes in government is different. Maybe it will lessen us for paying taxes. And also that's also the main reason why other government countries didn't accept bitcoin. Taxes are important. It helps the country's to provide goods and services for the benefit of their own people.
Taxes are necessary, but compared to other times in history you will see that the taxes that we're paying are simply too high, in the past most governments charged very low taxes and they mantained themselves with lotteries and stuff like that, so we are at a very important point in the history, are we going to follow this new system where we are charged huge amount of taxes or are we going to follow the old system with very low taxes and a smaller government?

cahbagus555
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September 14, 2018, 12:31:02 AM
 #390

You're not going to get anywhere if you're trying to avoid paying taxes by transacting in bitcoin. The fiat exchange points are increasingly coming under scrutiny and the government we eventually be able to compel these companies to turn over transaction records. Anyone caught evading taxes is going to have back taxes, penalties, and possibly jail time to answer for. In the US, tax evasion has no statute of limitations, so the government can wait you out until they can eventually get the records. They're not going to go away, and it's just not worth the risk of the penalties you'll face when they eventually catch up to you.

People will still keep paying taxes even we pay with cryptocurrency because every goods we buy already attached taxes. We pay taxes because we need government service and i think its obligation from every citizen paying taxes

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XiXiMios
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September 14, 2018, 08:45:34 AM
 #391

All calculations are easy to do through it, but it is completely under control. The bitcoin economy is not developing now and therefore the government is quietly watching the life of the cryptocurrency. As soon as the first signs of the crypto-currency economy appear, we will see the activity of the state to counteract.
Relmarrowny
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September 14, 2018, 09:00:53 AM
 #392

Bitcoin and the economy are tied together. To a certain extent, Bitcoin is in economics. That is also the pressure for financial investors.
Coleth
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September 14, 2018, 09:02:45 AM
 #393

I just believe that economy will improve in ones Country if they will adopt Bitcoin and other digital coins for their market. It will rise demands and people will invest more.
wendiar19
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September 14, 2018, 09:24:42 AM
 #394

maybe in the future this bitoin and the economy in this world will really need bitcoin as one to make transactions and provide very strong security and convenience when making transactions.

davinchi
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September 17, 2018, 11:51:52 AM
 #395

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.


If such a thing does happen the government will find a way to solve this problem. But the truth is that it’s never going to happen. And by the way, most of us that are into Bitcoin (Crypto business) are not bunch of lazy human beings, we have side jobs that we are doing and we do pay out tax from there.

So telling us to also pay tax for using Bitcoin is never going to happen. Bitcoin isn’t meant to be that way. Unless maybe you’re jobless and Bitcoin is your only source of income.
Cloak1
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September 17, 2018, 03:33:53 PM
 #396

As Bitcoin value to grow, it is still too impractical to become the basis of the world economy. Bitcoin does not operate like a currency. Bitcoin transactions require access to an increasingly growing list of transactions called the “blockchain.” And this system does not scale to meet the needs of any fast-paced modern economy. Digital currency systems like bitcoin may have a place in the future economy, but bitcoin itself will not control the world economy.
Ozero
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September 17, 2018, 04:27:22 PM
 #397

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's no secret that the state does not need a decentralized crypto currency. In most cases, it is legalized under the pressure of the people. If the citizens after that do not pay tax on profits from the crypto currency, the state with great pleasure uses this fact as a basis for prohibiting the circulation of the crypto currency. Therefore, here we need to choose: if we want to continue to use crypto currency, we need to pay taxes.

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September 30, 2018, 02:54:12 PM
 #398

Bitcoin goes a long way to affect the economy positively.Imagine when people in the economy have some bitcoin in their possession and the government starts deducting tasks from every transactions being made, the economy tends to grow faster than you can think off.

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September 30, 2018, 03:07:24 PM
 #399

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.


Nothing to worry. When 80% people of a country will use cryptocurrency then their government must create a system that people will use it in a systemic way and will give governments all kinds of taxes. When people will take benefit from it they will give it so easily because all people in a country are not corrupted and those who corrupted they don't care now and then.

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KrisAlex18
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September 30, 2018, 04:13:55 PM
 #400

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.


If ever such thing occurs, the economy of that country will definitely be affected since taxes covers a huge contribution to the country's economy. In a larger scale, if cryptocurrency gets legalized all over the world and almost half of the earth's population is using it, we can tell that there will be a lot of changes in the world's economy.

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