Bitcoin and Economy

[Zabzab9]

Bicoin can change the economy in positive way. It creates jobs for the people who has the knowledge about interney. Thus, Bitcoin decreases unemployment in a country.

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[Kabul]

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 strongly agree that people who use bitcoin have to pay taxes on the state for development, but what I worry about is bitcoin tax money misused by the state or in corruption by high-ranking state officials.

I think even though we have not directly pay taxes to government with our income from bitcoin but still its helpful to the economy in different way, people who have income from bitcoin can now buy things, goods and services they want and that is where the government can get taxes from the establishment that are selling those goods and services, because if government interfere bitcoins through taxation then its decentralized form will vanished.

It is undeniable that governments impose taxes on almost everything we do and use from the things we buy in the supermarket to the income we have from our jobs. So bitcoin users still pay taxes one way or another, it is just not directly through bitcoin transaction or trading. Moreover, bitcoin can help with economy crisis since it can bring a lot of profit to its users and when people have more money, they would buy more goods or invest in other areas. This would surely brighten a country's economic situation.

[Ava Duvall]

Talking about tax involve  very wide discussion. there are two type of tax, direct tax and indirect tax, so eve if bitcoin users don't pay tax directly, they will pay it indirectly. More over government can accept bitcoin fully and impose tax on the users even if bitcoin is a decentralized.

It is a wide topic with many opinions so there is no right or wrong. the government really does as it pleases it could impose tax or ban it overall. its a complicated situation.

[yurekaa]

if the population in a country has used crypto and the majority of the population uses crypto, at a time the government will impose a tax for all crypto users. and the government will regulate crypto and its use. currently, crypto users are so few that tax has not been applied.

[toygama]

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.

Cryptocurrencies is decentralized, that is not controlled in any government agency and that is not taxable, but in other point of view the people support cryptocurrency who earned from cryptocurrency are using their income to buy something is subject for tax, in any developing countries almost all money earned by common people are used to purchase goods that satisfy their needs are all taxable. In other way governments are also gaining income from cryptocurrency but indirectly.

[Impulseboy]

I do not think tax should be eliminated completely, because its what the government use for infrastructure. If we dont pay taxes then who would shoulder them? Somehow I do not think the people will be cooperative with this. So eliminating taxes for bitcoins is somewhat impossible in my opinion.

[doroshok1]

I think that soon they will come up with how to charge the tax for the cryptocurrency from the population. Because it is really not profitable for the state. But taxes are not the only opportunity for the development of countries, though not unimportant.

[EddyGameta]

Maybe in the future, the government will give access to cryptocurrency and then there will be wallets that can be monitored and linked to the government so that the government can get tax from every transaction from each wallets. We’ll never know what is in the mind of the government in order to get a stable tax and comfortable for its citizens.

[cizatext]

I don't agree with that that people who engage in bitcoin don't pay tax simply because bitcoi transactions is not tax directly but the fact still remains that bitcoin users also pay tax on the various good and services they pay for using bitcoin and I also know what is call VAT as an economist which is value added tax which customers pay for on goods they buy.

[cah ndablek]

With the rapid development of bitcoin,it is likely that the government began to enact a regulation on taxation so no one feels in disadvantage and the country can become more advanced in the future.

[laracastvue]

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.

Obviously, the funds of the government will slowly decrease and that is the reason why other governments of the country are not allowing cryptocurrency to flow in their area.

[leesoorany08]

I think there will be a lot of people investing in bitcoin in the future, as this is the largest virtual currency and scale in the future. Hope a lot on this coin.

[StevenGibson1212]

As the level of Bitcoin development is increasing, countries that do not have Bitcoin tax laws will also have a levy on Bitcoin. If they do not do it, then the economy will be harder to develop than other countries.

[Cacao2017]

Bitcoin, if done in the end for the economy thanks to the investment and thanks to the contributions to the program ico it gives us the opportunity to invest in the ico to get shares from the call investment funds

[BryanRoseWalker]

I don't agree with that that people who engage in bitcoin don't pay tax simply because bitcoi transactions is not tax directly but the fact still remains that bitcoin users also pay tax on the various good and services they pay for using bitcoin and I also know what is call VAT as an economist which is value added tax which customers pay for on goods they buy.

but it is also very important to apply income tax on a regular basis, if it refers only to VAT, it will not prove anything because it is the obligation of all ordinary transactions, this model must be run first in countries like USA and europe, large volumes of there and the government should begin to focus on personal income taxes from crypto.

[uchechiboy]

For me cryptocurrency is decentralised ,and it is not controlled by the government agency so it is a taxable. So i will say that in time to come many people are going to invest in the cryptocurrency.

[skyland999]

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.

in my country bitcoin has not been legalized and is not taxed for its citizens who plunge into the crypto world and maybe a few years to come bitcoin will be taxed and the state will legalize bitcoin, but i will be much better

[so98nn]

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.

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.

This is a good point actually, that many governments bring up in order to suppress and ban cryptocurrency. You can see an example of this happening in India, where the RBI has restricted banks from changing crypto into fiat. But coming back to your point if such a condition does come to exist, than the country has no choice but to find a way to make these dealings taxable.

[finlandais]

Bitcoim surely affects the economy, as we all know government run a country only with the help of contribution of people in the form of tax.Bitcoin is non taxable so surely bitcoin will affect the economy of a country.Many countried are banning bitcoin only because of this reason.So the only solution that left behind is either    make bitcoin taxable or ban it in order to secure the economy of a country.

[Goodday]

Obviously with bitcoin can encourage economic growth in each country and also reduce the unemployment rate and can have their own income.