Bitcoin and Economy

[Dudeperfect]

This topic is debated multiple times but still, we discuss it again and again. I believe that this is the pure theoretical case and it won't happen anytime in near future. On the other hand, the government might levy taxes on crypto miners having the responsibility of transactions confirmation. Ultimately, the miners will collect the taxes from us through the fees so even if 80% of the population is using cryptocurrency, the government will figure out the way of collecting tax from the users.

[sampalokmix]

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.

That is why there are certain regulatory actions done by the government to somehow impart the balance between using Bitcoin as a type of work for its people just to ensure that the manpower of the country is well sustained so that it will not totally affect on the negative matter. People are being convinced and been taken to be responsible on their workplace to treat their physical works to be their main priority that was based on their professions and put crypto works on behalf to be the secondary one just to assure that they are making their job well to continuously sustain a positive outlook on the country's economy.

[Pecinan]

if the government imposes a tax on bitcoin users the first thing the government should do is to issue clear rules or laws for the world of crypto

[queenlaurel]

Taxes? The development of a country does not solely depend on tax to grow. There are other factors like games that brings the world together, historical arts, music egg. All these develop the economy if not more. In my own country  they talk about paying tax, that is what is used to keep the economy together and beautiful, but in all, they are lies, all they do are cheap developments that gets spoilt in No time.

[0t3p0t]

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.

Yes taxes plays an important role in improving and making a country a highly developed one. Paying taxes will makes sense as long as it will be handed over to an honest and with good governance agencies. I don't think if cryptocurrency  all over the world does not require us to pay taxes because whenever we convert crypto into fiat money there will be a tax inclusion from local exchanges as they might be regulated by the central banks or by the government as a whole. Cryptocurrencies are decentralized assets that is why governments are regulating local exchanges just to make sure there will be no money laundering and of course implement tax.

[setialovers]

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.

Right now, government want to regulate cryptocurrency and their citizen can not avoid for paying taxes. We know that technology can be tracked and government realize how big crypto if regulation can be issuing. With regulation, government have right to collect taxes from crypto trading

[nano77]

bitcoin will continue to grow and many will use bitcoin and with such a situation the government will surely find a way to get them to pay taxes for economic growth

[ToyotaFortuner]

bitcoin and economics, bitcoin can be one of the alternative economic solutions that exist with bitcoin the world economy can become more decentralized and can be safer when in use and when bitcoin use in the presence of bitcoin can also be used for long-distance payments and the cost is very cheap.

[Blondy12]

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 have been answering the same questions regarding taxes and bitcoin over and over again. How can other say that bitcoiners doesn’t pay taxes just because it is decentralised and cannot be controlled or trace by the government? When the fact is, bitcoin cannot be use as bitcoin itself to pay for everything except those very few establishments. Before we can use our bitcoin, we should converted it into fiat first before we can pay our bills and by doing that then there goes the revenue.

[giarised]

if the government imposes a tax on bitcoin users the first thing the government should do is to issue clear rules or laws for the world of crypto

I think these governments have to review such rules and if not found, they must legislate new rules accordingly. Now the issue is, people want to invest in such crypto but they don’t want to pay taxes. There must be a mid between such taxes extreme. We, on the other hand, must consider this option and make our minds okay to pay taxes continuously over transactions that we made.

[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.

Yes you are right it comes from the taxes and that is the reason why cryptocurrency can actually destroy the economy of a country but if government decided to also use cryptocurrency like creating their own mining hardware they their economy will be improving a lot more just like japan today.

[mhhyysqa]

More and more people use bitcoin will be a trend. I think the government will soon begin to levy taxes on transactions and those who hold bitcoins.

[awawo]

The fact that bitcoin can not be physically tax does not mean it users are not tax, take for example the value added tax that we pay on items we buy for our daily use using bitcoin and other currency are other means the government tax it citizens. When you buy goods in the market the company bill you for vat which is included in the Price of such goods which are remitted to the government that is the way government tax bitcoin indirectly so bitcoin is not free from tax unless you don't use to purchase goods.

[kenlyresuello08]

bitcoin community goes bigger in every second, and if 80% of of citizens engage in an one country, the government will make a new law that all the bitcoin holder will have to pay their tax.

[fishball]

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.

So far, we can say and assume that there are now millions people that use bitcoin and earn from it. With those earnings, they probably have businesses now which contribute to the economy.

[systematicdeception]

Legislators are beginning to realize the huge potential of the detachment, and the rapid spread of the crypto-currency among state and private enterprises, as well as investors, will facilitate accelerated decision-making on the regulatory framework governing the crypto-currency space.

[naily]

To this day they have not found a way to charge cryptocurrency, lucky for all of us Bitcoiners, we can still enjoy our income from Bitcoin without tax deductions. There is a high probability that Bitcoin will be taxed in the future because bitcoin grows faster in popularity but for the time being, let's enjoy our tax-free income. Because Currently, everything is taxed, Bitcoin is the biggest thing that ever happened to us

[Altcoins enthusiast]

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.

[Magiklair]

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.

[ainajane11]

If bitcoin will be supported by government then the economy of every country will be boost and gaining more support. This can help to improve the community of every country that suffers from many problems.