Topic: Bitcoin and Economy - page 18. (Read 3003 times)

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.

Both of them are connected for sure because when bitcoin was not there then all of us were earning only one way income and there was no such extra income because of which most people were suffering crises but now after bitcoin there are more than one way of getting money which is really nice way to make our economy high, people are now rich enough to spend an independent life.

bitcoin and the same economy is needed.
if the bitcoin function can be a savings for the future, and while the ecbitcoin and the same economy is needed.
if the bitcoin function can be a savings for the future, and while the economy is needed every day ...onomy is needed every day ...

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

http://bitcoinist.com/3-icos-huge-potential-2018/

Now bitcoin becomes more popular, and it would cover 80% of the people in the world. It is a digital currency, the world is now moving forward  to digital. Bitcoin would support individuals growth and at the same time if it is accepted the economic growth of the country will be tremendous. The revenue of the will be become more than local currency. In future it will be accept by all countries.

While bitcoin users don't submit tax forms to the government, we are still paying taxes. The exchange that you are using in order to cash out your bitcoins into fiat money, they are paying tax. Don't you think they do? In every cash out that you do, you are already paying them tax. The only thing is that you don't realize it because the exchange rate has already been adjusted so that the tax is already included in your transaction.

Another thing, if everyone's using bitcoin and all are making good amount of money from their Internet jobs, I think that the economy of that country will grow even more. More money means more consumption for you. That's what humans do, we consume. We buy everything. Every time you buy something, you're already contributing to the country because you're paying tax.



Definitely agree to this. The government is well aware that they can't stop the people from using bitcoin since there will always be an Internet connection to the country. Prohibiting the use of Internet to the whole country is very absurd to do so they have to have a different solution. People earning money from their bitcoin earnings aren't paying income tax. This thread asks what if 80% of the population is using bitcoin, which is a majority of the people. That means it will be a good decision to increase the value added tax (tax you pay when buying something like groceries etc) since everyone's affected by it since everyone buys something.

I think if 80% of people in a country use bitcoin, the country would forbid transactions using bitcoin and crypto. even if the state does not prohibit it, they will provide tax regulation on every cryptocurrency holder

Bitcoin and Economy is indeed one or bitcoin san economy has become one, if bitcoin its price rises then the economy increases, if bitcoin price down then the economy will also follow-down decline.

We are all know that bitcoin and economy are the best buddy cause if our economy or country accepts bitcoin our economy will be risen. Cause bitcoin can lift a countries economy if they accept them. So many countries accept bitcoin cause bitcoin is special bitcoin is very helpful in country

mutually bound and need each other. that's what I think

Government will ofcourse have the necessary procedures to collect taxes. Bitcoin is growing daily together with it's users. However, in the future their is regulations in cryptocurrency as to have taxes so many possibilities actually may happen.

Paying taxes doesn't mean paying it directly to the government as filing it to your agency department or whatever you call it to your country, you can pay taxes indirectly like buying more goods or products. Most of the people who invest in Bitcoin gain their profit, and most of them spends more (than there average spending amount way back when they are not yet engage in bitcoin) in buying different products or availing different services which I see as a big help in gaining taxes that can be used by the governments to their projects and economy will gain more.

and the right answer is, the government will definitely think about legalization and will levy a tax on bitcoin. this is something common, because the government aims to take tax for the economic viability of a country.

bitcoin and economics are combinations that are committed to one's well-being in economic needs. I think so.

I also think this may happen soon, but I don't have to worry too much. The government will take measures to get taxes, and they can tax the way you taxed the exchange or store your bitcoin. Tax is necessary for the development of society.

I want to believe that by the time 80% of the countries' work force are fully into the cryptocurrency, the government of that must have partnered with crypto developers on how taxes can be made/deducted through transaction fees.

Bitcoin plays an important role in the economy. If 80 percent of any country is involved in crypto Then the government can recover VAT from it. And it will accelerate the economy of that country.

for my own opinion, bitcoin will help a lot with the economy of a country. since it is one of the mode of payment it helps. when the people buy goods with the bitcoin they are also paying taxes because their is no tangible product that has no taxes, even the most smallest thing when you buy has a tax. since bitcoin is getting high most of the people will also spend high which really helps to the econmy and for the government since their is more taxes to be collected

In this time, in our country,  where everything is taxed, Bitcoin is the greatest thing that ever happened to us. Government imposed taxes  anytime they want and we people cannot do anything about it.    As of today they have not yet find a way to taxed cryptocurrency,  lucky for all of us Bitcoiners, we can still enjoy our income from Bitcoin without deduction of taxes.  There is a big possibility that Bitcoin will be taxed in the future  because bitcoin is growing faster in popularity but for the meantime, let us just enjoy our earnings free of taxes.