Topic: Bitcoin and Economy - page 17. (Read 3003 times)

The rate of such a crypto currency as bitcoin grows with a high demand for any crypto currency. If there are players on the market who are ready to buy this currency, the rate will constantly increase.

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.

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. Bitcoin - bitcoin is acceptable for both things, both virtual service and real goods

Bitcoin helps in improving the economic conditions of the world, good economic experts , investors and great financial analysts are expecting for the bitcoins to bring a tremendous change in the global economic conditions and will last forever for the better. Bitcoin will shape the future of financial and economic markets  as a good investment commodity. Bitcoin has the capability to alter the traditional monetary system and this bitcoins provide opportunities for the users as a digital currency and as a investment asset which helps to earn good profits in the long run as the price of bitcoins increasing.

The Until now, the surge in cryptocurrency markets has been a sideshow to the financial markets or the real economy. Prices have gone up a lot for bitcoin and other cryptocurrencies, andit's fun to joke about things with names like Cardano and Monero going up a lot in value, but if it were to all go up in smoke tomorrow, it shouldn't have any meaningful impact on ordinary people.
But... companies with publicly traded stocks are starting to make decisions to show that they stand to benefit from cryptocurrencies, and markets are beginning to reward them in a big way for those decisions. Should this continue, people not involved in cryptocurrencies will suffer when there's a crypto bust. And there will be a crypto bust..

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.

When we consider the growth and development of certain countries. Most countries become fully developed from the taxes they take from the citizens. These taxes are paid to the government to undertake certain developmental projects in the country. Revenue from different sources of the country’s natural resources are redirected to undertake perculiar projects for the country. Imagine if about 70% of the country’s population is into cryptocurrency and taxes are being deducted from transaction they make, there will be enough revenue generated for the government to take up some projects.

yes chances are if this happens bitcoin withdrawn tax, because the country has a high authority to prosper the people, from the tax. although such sometimes taxes are also eaten themselves. whereas the tax is for the people back.

It would be possible, bitcoin can help the economy. We know how to convert our own money to bitcoin, in vice versa, we can also convert bitcoin to our own money, it can help our own economy to have their own income in bitcoin. We see how bitcoin can be popular for one country. We must know what will be the pros and cons of bitcoin for every economy

Nowadays bitcoin is so popular that I believe Bitcoin can be used as an alternative to a country's economic conflict. In the world now 60% of the population uses and e-money investments, the government will not be able to stop people using bitcoin and even bitcoin can reduce the unemployment rate of some countries.

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

I also believe that Bitcoin can be used an alternative solution for conflict on economy of one's country. It can even lessen the unemployment rate of one's country however, it is just for temporary because bitcoin is volatile meaning if we depend on it the value of our money might change whether to pump or dump.

Very obvious that is already a conclusive scenario. Since the use of cryptocurrency doesn't require paying taxes (assuming it totally replaced fiat) then that particular country will don't have adequate fund for government projects making no or at least slow advancements.

But honestly, what I've said is ideal. I'm sure that governmente will not stay silent and will not take actions regarding this. I'm just thinking of two possibilities: whether they will totally ban crypto due to its threat or they will put strict regulations including tax payments. When crypto revolution comes, I much prefer the latter part to happen instead of a total ban. At least we still have a chance to use it and will not become like an antique buried deep under the ground.

I am sure you know nothing about the country like India. The politics here is so courrpted that people are tired of it and hence don't file the normal taxes also.

You won't believe it but financial department shows that in India only 20% of people pay taxes. Let's assume that there are 30% of people who are engaged with farming and whose income is exempted from the taxes. Then also there are 70% people who should be paying taxes.

There is full example of country with only 20% tax payers so you can see it yourself. ;-)

I know that taxes are not in the course of transactions alone are many factors that contribute to the tax income for the government, if one day everyone is involved in btc, it is definitely the time when the government has legalized it and at that time the government must have drafted the rules so they get income of this business, not ysah worry about the future because essentially human is very smart to adapt every new one there will be rules that follow

There is no clear explanation about the future of Bitcoin. The price of the next year can be doubled or tenfold. Again 95 percent or more can fall. No financial analyst can predict where the quality of Bitcoin will stand. Like another cryptocurrency, Bitcoin does not work for any beneficial economic purpose. Rather, the currency is a threat to large economies. This tremendous rise in the cryptocurrency can create turmoil in large-scale economics. According to a survey by economic historian Charles Kinnellberger, extreme speed, panic, collapse, eruptions bubble can cause a major recession in the economy later. So regulators should keep an eye on the eruption of cryptocurrency on alert. South Korea has already stopped cryptocurrency transactions. Other countries of the world are also thinking about this. This cryptocurrency is being banned for environmental reasons. It is being calculated that how much electricity is required for bitcoin mining. According to many, 30 terawatt bells per year (which is equivalent to the full electricity demand in Morocco)! However, regardless of the amount of carbon dioxide emitted, the global warming is increasing. Further, there is no social advantage. Some countries like Japan, China, and Australia are already thinking about enacting the legislation. They are concerned about not having their control over these currencies and their duty.

As we have seen, bitcoin and the economy are interrelated thanks to the bitcoin that the fast and effective mobilization programs have so that the projects have the capital to carry out and create jobs for you. people

The government may not impose taxes on crypto currencies themselves but governments have always been imposing taxes in goods and services. Actually income (which is what we get from crypto currencies) are actually taxed. We just choose not to declare them (which is illegal). I pretty sure in the very near future, crypto currency will be taxed.

We all know that there are countries that banned this bitcoin for its price rises every now and then. Rising of bitcoin currency leads to an imbalance economy of every country. In line with this, government must take action regarding this matter. If this bitcoin currency make it to the top, other investors will not invest in companies anymore, no more investments in small franchise that will lead to an imbalance economy. People will invest more in bitcoin, who would not invest if money here is easy and convenient.

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.