Bitcoin and Economy

[maruf_h20]

Bitcoin has made significant impact on the economy. Bitcoin is being used as a digital currency in many countries. As a result, the economy of the country is connected with Bitcoin. Bitcoin will occupy an important place in the financial sector with the increasing use of Bitcoin.

[gurang]

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 economy have a bitcoin our country will be nice because bitcoin is important to people and then it can also help people so that we should legalize bitcoin in our country.

[sepeda karat]

The economy of Bitcoin is still small compared to long established economies and software is still in beta development stage. But goods and services, such as used cars and freelance software development contracts, are now tradable.

[Deepa18dec]

Normally governments are monitoring the exchanges and KYC is needed where fiat to crypto trading is available. So people will have to pay the taxes on their gains. On other hand, tax evaders will always be there and govts will take some measures for them. Development of a country is not dependent only on taxes from crypto, there are other sources too.

[Neraj Evad]

The bitcoin can actually can help elevate economy, because it can help jobless people to join bitcoin bounty and earn rewards token as you work and join bounty ICO, is this can help those jobless people then , bitcoin can really help the economy of a certain country, if bitcoin can catter people to bitcoin and can earn livelihood for them ,so it really will help the economy of a country, and I believed that.

[jaja colleen]

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 economy have a bitcoin our country will be nice because bitcoin is important to people and then it can also help people so that we should legalize bitcoin in our country.

Every country has a people who is working in bitcoin but the government is not engage their community to work with bitcoin rather than they are always spreading negative feedback about crypto currency,if the government is open minded with this type of work and educate the community about bitcoin their is a big possibility that bitcoin helps to improve the economy of the country.

[Cacao2017]

No intermediary transaction required: Minimize bank and intermediary finance costs. Transactions at any time including holidays. No one has the right to freeze accounts or stop transactions.
It is almost impossible to create Bitcoin itself, but it is possible to exploit Bitcoin which is a bitcoin worthy of.

[alizalela7]

Bitcoin has a strong appeal to tech-savvy individuals, because it is beyond the control of the financial system. Bitcoin is like being able to balance the interests of the Big corporations with small business people

[genuin]

with the involvement of citizens of the world to bitcoin will accelerate the growth and development of bitcoin. I am very proud because once the bitcoin is very trusted by people but with a large marketcap people people back trust bitcoin

[hacekd]

You have presented a reasonable matter. Income from that country is earned from the taxes of the people of any country. But 80% of the people in the country who use the crypta currency will be able to earn. I think it will be dangerous for any country in the future. So in the future there is no problem that he should start a system of good. Because the use of crypto throughout the day is increasing.

it does not matter because the state will not remain silent to overcome it because when legalized they can create a new regulation for bitcoin users to avoid such things will be no problem but there will be a solution.

[MiukoOk]

At the beginning of 2017, Malta introduced Bitcoin and blockchain technology into its national strategy. Sweden and Japan have also accepted Bitcoin as a form of official payment to support the economy a lot

[susuberuang]

bitcoin and economics, bitcoin is still not currently able to affect the world's economic conditions because bitcoin circulation still can not be much like the bitcoin dollar is still new and many still do not know and understand how bitcoin moves.

[Saiful Islam777]

Since Bitcoin has the effect of its use, I think it will impact its future economic activity.

[furry04]

Generally the money earned from btc comes from so many people globally for different nations and a new money would have been entered on that mentioned country and if those people are able to earn enough than this new money would enter into that nation which will be spendable and it is better than taxes.

[redsun114]

bitcoin and economics, bitcoin is still not currently able to affect the world's economic conditions because bitcoin circulation still can not be much like the bitcoin dollar is still new and many still do not know and understand how bitcoin moves.

I beg to differ and would rather go with the fact that Bitcoin has the power to alter certain financial institutions that are based up on the economic principals. For example if we talk about banking system, Bitcoin has posed a big threat to this.

Besides, Bitcoin can decrease the amount of cash up to a big extent in a country and this thing can question the government power of fiscal policy as well.

[Roboabhishek]

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.

In some country, the government has already applied taxes about 80% of its citizens engage they have to pay tax in future.

Its true bitcoin is growing every day and every night and I see bright future of bitcoins so there's huge possibility that government makes some policy and rules against bitcoins.
After all, it's about tax and I've never the government of any country lean towards it.

[Smarty14392]

The economy of Bitcoin is still small compared to long established economies and software is still in beta development stage. But goods and services, such as used cars and freelance software development contracts, are now tradable.

That is for the reason that bitcoin is new as compared to others. Like if you are considering companies like unsilver and nestle and any other well-known multinational company, so brother they are operating since long time. We have been just started in 2009 and till 2016 this bitcoin wasn’t to be seen at any place. We can count these last two years for bitcoin as its growth. So it will take time.

[patrickj]

No, I think economy is not only depend in taxes from worker in our countries, government can also obtain taxes from anything that covered it, like real estates, land and transportation or anything that related in whole country. Yes, it may affect the economy a little but the fact is Bitcoin will also be a good way to help in the economy like paying in an easy way transactions in businesses in the countries.

[v3liana]

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.

yet i believe we are still far away from that. Right now only 1% people on earth that buying cryptocurrency. If its true that 80% of people of particular country buying and using cryptocurrency i do they will get even serious in taxes. Its nit bad things its good things though cause after all taxes is for development of country and the problem is how much is the rate of taxes for cryptocurrency cause right now i think its unfair. I read that in korea they charges 10% for every profit from crypto.

[Coffee135]

No, I think economy is not only depend in taxes from worker in our countries, government can also obtain taxes from anything that covered it, like real estates, land and transportation or anything that related in whole country. Yes, it may affect the economy a little but the fact is Bitcoin will also be a good way to help in the economy like paying in an easy way transactions in businesses in the countries.

You're wrong. There is a well-developed system of Bank payments. 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.