Bitcoin and Economy - page 16. | Bitcointalksearch.org

0t3p0t

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Quote from: costanos02 on May 31, 2018, 06:01:46 AM

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.

queenlaurel

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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.

Pecinan

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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

sampalokmix

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Investing in the future development of blockchain

Quote from: costanos02 on May 31, 2018, 06:01:46 AM

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.

Dudeperfect

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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.

worldsuccess01

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As discussed bitcoin implemented legalized in the nation economy grow up because of there pay taxes if its approved according to the laws mostly now are 90% using bitcoin all over the world.

normanderecho

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I think if that will happen many people use bitcoin because bitcoin will be known and to become useful and if bitcoin will giving tax on government that is very big help on government because the country and economy will succesful and become reach so that people theres a big chance to leave as a poor.

Ewinsane

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Quote from: crutu on June 05, 2018, 04:15:41 PM

Quote from: costanos02 on May 31, 2018, 06:01:46 AM

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.

the taxation of a country to its citizens is intended to develop an existing government, if bitcoin is able to be inaugurated by all major countries the possibility of the government must burden the tax payments of each bitcoin users, but the government must also be able to maintain the security of its users as much as possible because of taxes issued by the government against bitcoin users should be able to also benefit the bitcoin holders

Bitcoin helps us to make ourselves financially stable, as it is for people and is responsive as well which made it valuable so we should get our benefit from it and should not miss our benefits. It helps us in improving our economy for which we struggled many years and made nothing but just survival. Now as we have adopted the Bitcoin then the years we had wasted are recovering in which we were using fiat.

deklitt

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Quote from: costanos02 on May 31, 2018, 06:01:46 AM

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?

I think the tax in a country can not be made a guideline on the country's economic growth, and so far not many countries have tax rules on bitcoin.

Quote from: costanos02 on May 31, 2018, 06:01:46 AM

There is a big possibility that this things might happen In the future because bitcoin is growing faster and very known today.

Indeed various possibilities can certainly occur in crypto and if every country has a rule about the use of cryptocurrency it may be able to increase the country's economic growth.

Superzpay

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Quote from: costanos02 on May 31, 2018, 06:01:46 AM

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.

these people still pay taxes to their governments when they buy things from their country. Every product has a sales tax and that is collected with every purchase so no one can escape from paying the taxes of their country.
While other taxes can also be collected if the governments legalize bitcoin in their state and if they do not legalize then it is their own fault of these states.

leostrong.mo

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Some countries and regions have begun to tax cryptocurrencies!
The cryptocurrency is very unstable! No country will rely on cryptocurrency for economic development!

qumatru

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Quote from: fuding12 on June 06, 2018, 02:34:02 PM

Well, Bitcoin is not a fiat currency with legitimate status in any country, but it often remains tied to the rules of tax liability regardless of the medium of money used. There are various laws in many countries that may result in income taxes, sales, payroll, profits, or other forms of tax liability arising with Bitcoin. In other words, Bitcoin can be taxed.

We can get more products by using more valuable currency in our exports and imports and can get less by using less valuable. Using a valuable currency varies directly to the economy of a country. as we know that Bitcoin is the most valuable cryptocurrency so using Bitcoin for all the processes related to money will give you the most possible and maximum profit. Bitcoin also helps people boost up their financial conditions so following Bitcoin a country and its people both will be benefiting.

allohha

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Of course, it would be desirable for Bitcoin to take the place of real money and be used as a means of payment. But this requires the full legalization of the crypto currency in the world. Therefore, I am very much alarmed by the statements of many officials in my country who claim that Bitcoin is a threat to national interests. Journalists are trying hard to get a response, What exactly is this threat. But no one can answer.

Blue Bell

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Quote from: SvonioneFromMangoCoinz on June 06, 2018, 11:41:15 AM

Quote from: automail on May 31, 2018, 10:08:40 AM

If 80% of citizens are using crypto's, this might be a huge increase on the sales of every business and it can help boost the economy. Always remember that everything we purchase has tax, so we are unintentionally paying it regardless on where our money is coming from. Same thing goes for crypto currency earners. Also if 80% are using crypto, I think the best way of applying taxes will be on exchanges.

Inevitably one day the government will impose taxes on bitcoins and all other electronic coins. 80% of the population uses and e-money investments, the government will not be able to stop people from using bitcoin

If they will fix tax for it even then a lot of people are here who only want to have bitcoin more than any other investment, bitcoin helps to improve our economy and our life will surely get better with bitcoin as an investment, paying tax is not a big deal at all, because if you pay your tax from your profit even then you will have highest remaining but paying tax will help our government and poor people of our country, so I think same as a lot of other country mine is also getting better economically with bitcoin investment, profit.

marlo1001

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I suppose that Bitcoin and in general terms Crypto Currencies usage in boundaries of economic regulations can be highly positive affect in area

weblouartisan

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Lets Go Adab

Quote from: costanos02 on May 31, 2018, 06:01:46 AM

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 banks will be really scared on bitcoins since most of the people are preferring to invest on cryptocurrency more than placing their money on banks because bitcoins is very profitable today and the outcome will be less funds for the government.

putrisa

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it seems that bitcoin and the economy become one of the influences in the future world because I believe in the future paper currency will not be used anymore and definitely the bitcoin development will be more widespread and eventually bitcoin can be used for anything you want.

Ikbal Naiem

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Bitcoin and economy are the two most important part for a government. Government need abundant money for his kingdom.On the other hand bitcoin influence the economy. I hope in the nearest future when government allow bitcoin as a legal coin then they will make a process that bitcoin directly contribution the country's economy.

BulbaLord

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Quote from: costanos02 on May 31, 2018, 06:01:46 AM

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.

Well in my own opinion we all know paying of taxes is a big help to boost our economy. And paying taxes is require in our country. And everyone knows. Bitcoin helps in improving the economic conditions of the world.

batang_bitcoin

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Quote from: Johnyz on June 05, 2018, 07:23:41 PM

Quote from: batang_bitcoin on June 05, 2018, 07:19:14 PM

Quote from: costanos02 on May 31, 2018, 06:01:46 AM

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.

Getting to the situation for example.

If 80% are into crypto and aren't willing to pay taxes, the government will do something to force these people to pay taxes or else they'll ban it. That can be a warning just to give teeth to the law.
But the government isn't depending to taxes only.

That's true, government can always make ways to collect taxes. Cryptos profit are taxable in U.S and people are really need to pay for the income tax. If we don't want to experience banning of bitcoin, I think its better to pay the taxes so the government can still make projects. Some country depends only on their taxes so I think its really important to follow the rules of the government.

That's why there are some countries that are worried when crypto's came in to them, their citizens will think of evading to pay taxes.

Following the rules of government is very important and we can see on how bitcoin can help a countries economy. But there are people who'll say that it's not how bitcoin goes, it's decentralized and no need to follow rules of the government, they'll stand that way but it's better to obey the rules.

Topic: Bitcoin and Economy - page 16. (Read 2988 times)