My guess is the governments, in order to protect themselves from tax evasion by cryptocurrency, will increase value added taxes.
And the banks, which are essential for a government to control the economy, will just choose another way to compensate the money transfer commissions.
All except money transfer will stay in a different, yet very similar fashion.
Topic: Bitcoin and Economy - page 19. (Read 3003 times)
according to my own opinion and study of the existence of crypto and the economy one of the most sophisticated combinations of technology as well as the economy (trading) and very rapid development so as to be the center of public attention to the world of crypto, without having to think long to agree, as well as why society is very ambitious to learn it more deeply without your regulation from the government including the tax burden that must be issued by pengunanya that is where the uniqueness of the world of crypto secure privacy for the sake of personal interests, and the future will be more sophisticated and advanced both in security and the existence of bitcoin or crypto so penguna more comfortable and safe, all the things that now exist crypto just the gate to see the future economy, may be useful and successful for all of us
it seems quiet easy to say but hard to actually it is really hard. there could be lots of possibilities that might happen, and we all know that it will reach to that point, either of which will happen i am also half excited when it happens, besides as part of those who uses crypto, i don't have other options when it will be mandatory by the government, it is like all or nothing in the end. 
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.
There is a big possibility that this things might happen In the future because bitcoin is growing faster and very known today.
If what you propose becomes possible, two things will happen;
1. The government of that country would by all means find a way for the citizens to pay their taxes even if it gets to the point of transferring money from a bank account to another bank account so far its not gift and its not between people who are related. This is going to be made possible with a high level KYCs where an entering of your name would bring out everybody related to you in any part of the country. An if its buying abroad, this won't be possible without the input of the banks which makes it more easy for government to get its own share.
2. The other option is to ban bitcoin altogether before it reaches the 80% of its population and the country knows they don't have the technological ability to stop it. The moment the penetration is able to touch 7%, its beginning to generate concerns which banning and enforcement of that would be the best option. It won't stop it though but it would reduce the spread to a large extent.
according to my own opinion and study of the existence of crypto and the economy one of the most sophisticated combinations of technology as well as the economy (trading) and very rapid development so as to be the center of public attention to the world of crypto, without having to think long to agree, as well as why society is very ambitious to learn it more deeply without your regulation from the government including the tax burden that must be issued by pengunanya that is where the uniqueness of the world of crypto secure privacy for the sake of personal interests, and the future will be more sophisticated and advanced both in security and the existence of bitcoin or crypto so penguna more comfortable and safe, all the things that now exist crypto just the gate to see the future economy, may be useful and successful for all of us
This sounds logic, but I suppose that this can happen only in theory, just imagine how would it look like, if 80% of people would be engaged in cryptocurrency including the old man and including infants
Its no problem i think if 80% own cryptocurrency and didn't pay taxes because revenue not only come from taxes, other revenues comes from natural resource and maybe most country doing a lot of investment in all fields
for me bitcoin and economy is a concept of life that has a close bond, because bitcoin has helped much to build the economy of someone who is in it ..
If the country will provide a wise taxe system, I think that this country will deffinatelly prospher from using bitcoin in it
I mean what tax system are to talking about here? Tax system have been in place in any country for the last 100 years and I don't think that there's anything that they can do to improved it, unless they lower the bracket so that taxes will not be heavily burden to the people but I don't think that they will do that.
The only thing they can do is regulate the exchanges and tell them to pay taxes for holding bitcoin and any other cryptos. But it will really defeat the purpose of having a decentralised system isn't it?
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.
I agree for, bitcoin would help a lot for all those who used it and in terms of economy along with it will there would be also exchange that would likely a tax when you have transaction in any way of crytocurrency. Lets just say everywhere we go there are ways to have payment in everything we did as charge for using there site or everything. 
If the country will provide a wise taxe system, I think that this country will deffinatelly prospher from using bitcoin in it
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.
There is a big possibility that this things might happen In the future because bitcoin is growing faster and very known today.
Assuming that majority of the individuals utilize bitcoin, the government would implement or create laws towards its regulation for proper collection of taxes even though its decentralization makes it difficult for them to regulate. Just to add, most people who have cryptocurrencies convert their coins into fiat- which I do not think poses a problem in the future. Another thing, there are various methods on how the government can collect tax for their proper expenditures. Lastly, if the majority really uses bitcoin as an alternative currency, the government will have no choice but to embrace its implementation and use it as a currency.
I think bitcoin will be able to increase the economic growth of every citizen of a country. because bitcoin really has a very high asset value and of course bitcoin at the individual level will be very beneficial for its users. and on the issue of taxation of course bitcoin as a decentralized currency then the government will not be able to control in terms of taxation. and this depends on the government's attitude of whether to accept the existence of bitcoin for the economic progress of its citizens or not because it only thinks about taxation issues.
Most people that have cryptocurrencies still convert their resources into fiat- which taxation is enforceable. The economic impact of cryptocurrencies have benefitted mostly the general public into providing job opportunities. Some students view it also as a way of earning income which is more convenient than to do manual labour but it all boils down that what they earn is still converted back to fiat.
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 think all policies are in the government, if the government entirely legalizes crypto or Bitcoin currency, I'm sure if they will draw taxes from any coin exchange we do. And we must also know that the economic growth of a country is not only derived from taxes but the result of the resources of the country itself, for example the mining and petroleum products. There is a big possibility that this things might happen In the future because bitcoin is growing faster and very known today.
yes, it's true bitcoin as a decentralized currency of course individually will greatly assist each user in economic terms. but for now from the government there are still many who do not approve the existence of bitcoin because of course bitcoin can not be controlled by the government because it is decentralized.
Yes, its true that most of the country's development is coming from taxes, and the crypto usage now is still free from tax, but the government now is looking for way to regulate it, regulate means its going to tax it, if 80% of the citizens are using crypto without paying taxes then the country will have trouble, without the tax income, a lot of problem will occur, it can inflation and all developments to stop, so the government wont let that happen
Perhaps if most people of a country are in the bitcoin world maybe the country's economy will advance because a country will get the reward of the people who do bitcoin activity and the taxes obtained may also be quite a lot so increase the income of a country.
But only a small percentage of the global population is on crypto right now, and with some nations against bitcoin, I doubt that it will happen today. Crypto though is some life safer for some of us, but I don't think it has enough teeth to push one's economy for the better. The only benefits is that as people found crypto to be a safe haven, it could have help in a minimal way, only little impact but the most benefits will be on the people who have more money now because of bitcoin and altcoins.
I don't understand why there aren't many countries which support cryptocurrencies. So far I know that Japan and South Korea are making their countries a good place for crypto investors. I hope that we will see some major countries using cryptocurrencies by the end of 2025. It is possible because more and more Bitcoin wallets are being released for Android and iOS which are really easy to use on the go. Cryptocurrencies will become very important in the next few years. That's why I invest in them.
They accept that there is a reason for them, and they have their own way of controlling their country. You do not have to look at how to manage electronic money in Japan should not give such words. A developed country can not easily do things that they can not control.
Perhaps if most people of a country are in the bitcoin world maybe the country's economy will advance because a country will get the reward of the people who do bitcoin activity and the taxes obtained may also be quite a lot so increase the income of a country.
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.
There is a big possibility that this things might happen In the future because bitcoin is growing faster and very known today.
If majority of people accepts bitcoin obviously the government would realise and adapt it. Once it's done, tax implementation certainly will be there and the citizens have to adapt to paying taxes. The citizens will certainly pay with full sole when the government gives out the required things for the people as promised. Its like government serves their citizens and the citizens pay back tax to the govt in return.
I think bitcoin will be able to increase the economic growth of every citizen of a country. because bitcoin really has a very high asset value and of course bitcoin at the individual level will be very beneficial for its users. and on the issue of taxation of course bitcoin as a decentralized currency then the government will not be able to control in terms of taxation. and this depends on the government's attitude of whether to accept the existence of bitcoin for the economic progress of its citizens or not because it only thinks about taxation issues.
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.
It can not be said that people do not pay tax on profits in the crypto currency. In most countries such a tax has not yet been introduced. In the countries where it is introduced, the tax payment situation is different. For example, in Japan, taxes are paid by citizens and this is borne by the state and citizens. According to the latest data from the United States, there really was a bad situation with paying taxes, but it is most likely caused by a lack of understanding of the population of the settlement mechanism and payment of this tax, because it is paid for the first time. I think that in the future this process will be settled and people will pay this tax. There is a big possibility that this things might happen In the future because bitcoin is growing faster and very known today.
Jump to: