Bitcoin and Economy - page 7. | Bitcointalksearch.org

Yusuf_Jay

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Quote from: costanos02 on May 31, 2018, 05:01:46 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.

I think there is a misunderstanding here. It might be true if the cryptocurrency allows the holder to avoid taxes. But, however, cryptocurrency like Bitcoin can follow the rules or laws that apply in a country. That is, it is possible to regulate the use of Cryptocurrency like as regulating other financial instruments. In other words, cryptocurrency can follow tax liability rules.

hahay

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Quote from: costanos02 on May 31, 2018, 05:01:46 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.

Because bitcoin is still not legalized and in my opinion that is what makes bitcoin users not pay taxes, if the government can legalize bitcoin, then a country's economic growth will also increase, because the growth of bitcoin can also increase well if the government legalizes it with another intention the government will support bitcoin. If they are aligned, then the growth of both will also be even better.

Dimon888

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Now most people do not even know what bitkoyn is. When it turns out 80% of citizens, then the government will already come up with levers of management and levy taxes on trade with bitkoynym.

Brunus

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Theoretically there should be no repercussions on the economy: bitcoins are only another system of measuring wealth.
But the fact that they are anonymous and can move around the globe escaping the controls creates fiscal problems that until now had not presented themselves. We'll see.

Ranly123

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Quote from: costanos02 on May 31, 2018, 05:01:46 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.

It would still progress. People engaging cryptocurrency will be using their earnings in the real world no matter how hard they hold it. In fact, after they cash out their earnings and use it to buy things in real world, they will be paying taxes in it.

Andrej Peiboski

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As long as it stays online, bitcoins are just points in a strange video game, so it makes no sense to make trange connctions.
In the moment these "points" turn into money, then one can argue.
But let's talk about something completely new, so the lawyers will have a lot to work with.

Sircoss

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Quote from: costanos02 on May 31, 2018, 05:01:46 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.

Right now in my country I can say that less than 1% of people in this involved in cryptocurrency earning, especially when all the government's all sources of information are saying that cryptocurrency is a bubble and it is negative.

ahdie12

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If a country has more than 80% of the population, the economy will grow, the cryptocurrency market will be very active as a buffer for the financial economy of that country.

kolsernik

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I expect the country to be 80% richer.In any case, if there is such a number of people holding cryptocurrencies in their wallet, the country in which they live will be obliged to take taxes.And in the end everyone will be satisfied.In many countries, the issue of taxation of cryptocurrencies is already acute.

Spaffin

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Quote from: costanos02 on May 31, 2018, 05:01:46 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.

Do not hang in the clouds, drop to the ground. If there is a situation when 80 percent of citizens who are engaged in crypto currency will not pay taxes, the state with great pleasure uses it for a severe restriction in circulation, or in general prohibition of decentralized crypto currency under pain of criminal punishment for its use. And then there will be nothing to object. So if we want the crypto currency to actively spread around the world, taxes need to be paid. See how it happens in Japan. They are accustomed to observe the law, citizens pay taxes on profits from crypto currency and the state is also pretty. Last year, taxes from activities in the crypto currency gave the treasury of Japan 0.3 gross income.

lendahawkins

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Quote from: costanos02 on May 31, 2018, 05:01:46 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.

i dont think it would happening in near future. Bitcoin is a currency and also as an asset, this what make crypto unique and i believe its hard to regulate it. The more people engage on cryptocurrency the more popular the crypto is, the sad things is bitcoin affecting all altcoins and seems its not healthy enviroment for altcoins to grow. I believe bitcoin will be much stable when sec approve the etf proposal and we would see more people starting to do transaction using cryptocurrency.

InKiTy38

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bitcoin and the economy have many implications for how they will support and interact with each other, such as the developed economy, which will significantly increase the value of bitcoin.

mkhadazz

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I think bitcoin and the world economy need each other because one day the world economy will definitely not be able to use paper currency anymore but I am sure it will definitely use digital currency so bitcoin can be one of the world's economic solutions in the future.

Masongrae

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The economy exist today even without bitcoin, and if eventually bitcoin or crypto will be used by many in the future, by then taxes maybe inplemented already. But i don’t think it will affect the economy because its not the only source.

Ch01ce0N3

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Yes, because the government currently doesn't know about bitcoin announcements, but some of them ban bitcoin and consider bitcoin illegal. If the government knows its benefits, the government can be assured of applying high taxes to those who use bitcoin.

Mlowo

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I still choose bitcoin, because if we choose bitcoin later we will get multiple benefits, waiting for bitcoin to be the same as we save GOLD, every time the price will rise infinitely.

aeternus

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Quote from: bsce1-1 on July 21, 2018, 10:17:33 PM

The world is currently moving to virtual and each global commercial center going to be reliant on bitcoins. Customers and specialists utilize bitcoins for paying and purchasing. So I think there will be more individuals utilizing bitcoin in the ongoing future .So bitcoin and economy are interrelated. So government will have a few measures, maybe first to charge the trade, and after that expense your encoded cash handbag

Most of the money around the world is already moving in electronic form, that is just the way it is, but governments are doing everything they can to resist the adoption of bitcoin they understand very well that if bitcoin is widely adopted that will mean a disaster for their economies, but the problem they have is that their economies are already a disaster so bitcoin could be the final blow to an economy in danger.

Domicbora

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Quote from: so98nn on July 27, 2018, 04:46:26 AM

Quote from: costanos02 on May 31, 2018, 05:01:46 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.

Quote from: costanos02 on May 31, 2018, 05:01:46 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.

This is a good point actually, that many governments bring up in order to suppress and ban cryptocurrency. You can see an example of this happening in India, where the RBI has restricted banks from changing crypto into fiat. But coming back to your point if such a condition does come to exist, than the country has no choice but to find a way to make these dealings taxable.

Like you there are so many countries who are likely to legalize this bitcoin. They are now planning for it. However not any solid solution is presented. Actually the problem is, there are some politicians in forward lobby of every government who are always profit oriented. They are selfish and they aren’t letting the whole government think positive about this bitcoin. They are making problems.

ashfer

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Bitcoin is a service oriented coin tried to establish in the world.Though it is in its beginning stage linked with the modern technology and the computer. Bitcoin is a modern form of economy with a strong net work systems its specific characteristics which are attractive to the global business community Bitcoins popularity and its usefulness has wide spread globally and bitcoin could attract the global investors confidence.Now most of the industrially developed countries are attracted bitcoin and they agreed to operate parallel to their economy and bitcoin could help some countries like Japan, Greece,Brazil and Venezuela for their economic down turn and with the help of bitcoin above countries could overcome their economic instability.

dnovsckym

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Soon all states will think and it will come to them that it's time to collect taxes from the crypto currency!

Topic: Bitcoin and Economy - page 7. (Read 3003 times)