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Author Topic: bitcoin and the traditional economy  (Read 1529 times)
THATGUY123456
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October 26, 2014, 09:18:03 PM
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What would be  the opportunities and/or threats Bitcoin presents to traditional monetary systems.

How might the regulation of the Bitcoin market have to change, if the use of Bitcoin becomes more

widespread?
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RonPaulBTC
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October 26, 2014, 09:30:48 PM
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What would be  the opportunities and/or threats Bitcoin presents to traditional monetary systems.

How might the regulation of the Bitcoin market have to change, if the use of Bitcoin becomes more

widespread?

The main obvious concern for institutions is avoidance of tax paying. If you don't cash out your Bitcoins, you are basically in a underground economy.
franky1
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October 26, 2014, 09:42:04 PM
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bitcoin should not change to conform to traditional economy, bitcoin was created to be different.

the only thing that needs to change is the limit of transactions.. nothing else.

having the mindset that bitcoin needs to adopt identity rules or spending limits per user should never ever be implemented in bitcoin, bitcoin as a system should not care about the rules about a specific country or government, as bitcoin should not be limited to that country/government.

its the users and the location they live and work that have to obide by rues.. NOT bitcoin

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THATGUY123456
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October 26, 2014, 10:12:19 PM
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So basically if bitcoin were to replace the traditional monetary system that would devastate some governments since they would lose their ability to collect those taxes and would lose the ability to print more money I'm I on the right track?
H.W.Z
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October 27, 2014, 02:57:34 AM
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Different govs treat bitcoin in different way. I think it is headache for them to actively regulate it without precedent. But some govs ban it.

THATGUY123456
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October 27, 2014, 10:39:25 AM
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What would you say the pros and cons of bitcoin are ??
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October 28, 2014, 12:12:19 PM
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What would be  the opportunities and/or threats Bitcoin presents to traditional monetary systems.

How might the regulation of the Bitcoin market have to change, if the use of Bitcoin becomes more

widespread?

The main obvious concern for institutions is avoidance of tax paying. If you don't cash out your Bitcoins, you are basically in a underground economy.

goverments will tax the Economy that is building around bitcoin.
No Goverment tax if you hold USD. They tax yout wealth or when you buy something or your profit.

wunkbone
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October 28, 2014, 10:43:51 PM
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What would be  the opportunities and/or threats Bitcoin presents to traditional monetary systems.

How might the regulation of the Bitcoin market have to change, if the use of Bitcoin becomes more

widespread?

The main obvious concern for institutions is avoidance of tax paying. If you don't cash out your Bitcoins, you are basically in a underground economy.
This is not true. It is very well possible for a company to be honest in paying the correct amount of taxes while still not selling the bitcoin they receive as revenue. One example of this would be blockchain.info as they do not sell their bitcoin, and since they have received such a large amount of VC, I imagine that the VC would demand they follow the law (I assume they must sell their bitcoin to pay taxes)

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chennan
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October 29, 2014, 04:20:41 AM
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What would you say the pros and cons of bitcoin are ??
From different perspectives, different individuals emphasize different aspects. For gov, they want to regulate it and collect the right amount of taxes. For miners, they want to mine as much as possible and sell as high as possible. For the bankers they fear the bitcoin grabs its business.

Coinroll - Bitcoin Dice

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October 29, 2014, 09:11:06 AM
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actually bitcoin has destroyed the boundaries of financial economics that requires the owners of capital and money to pay taxes on the kepemilikkannya, it is not a day longer, now age where financial freedom is reflected in his free us from the shackles of government policy in the form of tax ...  Grin
bitdraw
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October 29, 2014, 12:05:43 PM
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i see bitcoin as a world currency that doesnt need regulation or control at all.

it is simply a medium of exchange.

ofc a bitcoin might buy more or less of something depending on where in the world you actually are.

aljunking
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October 29, 2014, 01:20:37 PM
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So basically if bitcoin were to replace the traditional monetary system that would devastate some governments since they would lose their ability to collect those taxes and would lose the ability to print more money I'm I on the right track?

In other words there will be an anarchy in some countries where bitcoin is not yet known.
novacn
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October 30, 2014, 06:49:04 AM
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I see no meaning of some traditional economy groups like bands to exist. More btc adoptions will avalanche the revolution.  Cool

abrahamlitcoin
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October 30, 2014, 03:08:45 PM
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I see no meaning of some traditional economy groups like bands to exist. More btc adoptions will avalanche the revolution.  Cool

And what are you doing for btc adoption?

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