Giving a populace more options in how to conduct commerce is always going to have positives. Unfortunately, like with any form of currency, it will involve many negatives, too.
Topic: Can bitcoin improve the economy of a country? - page 71. (Read 52289 times)
Not for a country but if for individual i think it can. Seeing the very high bitcoin prices can make a nation's individual become rich. But if in thinking maybe a small part of a country can be rich thanks to bitcoin
Yes, ofcourse. Bitcoin can definitely improve the economy of a country because of this reason. Because of bitcoin you can import a money into our country and that way could affect the price of our local money because the supply of our money will increase.
I think that bitcoin can not improve the economy of the whole country, but only the economy of individual people who competently interact with bitcoin. It's the same money as everyone else.
I don't think so. It only improves the economy of some groups that use bitcoin. how it can improve the economy of a country if in some countries bitcoin still not legitimately accepted as a method of payment, besides the government will have difficulty determining the tax from the use of bitcoin
Improve of economy by bitcoin is very easy if government take some action which is known as legal action like they provide to people funds by bitcoin they purchase some bitcoin and distribute them into economy so that's the way the can improve the economy because it is easy for bitcoin. So i will prefer that government should take some actions as well.I think that bitcoin will be able to improve the economy of the country if it becomes accepted as payment in all places in the country. So more people will start paying with it and improve the financial situation in the country.
Well, in that case, countries will have to put indirect tax as there is no possibility of levying the direct tax on Bitcoin transactions. Since Bitcoin is an international currency, it will create more opportunities especially for the businesses around the world and it will bring the world closer financially. Thus when it comes to the growth of the country, there should be a practical tax structure. There are the people who have no issues to pay taxes but they don't want the governments to control their values.
I massively disagree with this approach
I don't think that taxing Bitcoin specifically is a good idea. How come? If Bitcoin is legally considered as a financial asset (sort of) used mostly for speculation, it could be taxed as other such assets (I guess it would be a capital gains tax). But if Bitcoin is legalized and actually used for buying goods and paying for services, i.e. used as a means of exchange, taxing it is meaningless since that would amount to taxing money which is a clueless and counterproductive idea. Governments do everything to make money more efficient (that's the reason why it emerged in the first place, i.e. to make trade more smooth and efficient) while taxing it would obviously work in the opposite direction
I am aware of the fact that governments love flowing economic wealth rather than holding values as a dead investment and that's why I used the word 'practical'. We know that it is near to impossible for governments to levy the tax on Bitcoin transaction and alternatively there is a possibility of double or even triple taxation which will be an obstacle in the flow of the wealth. The possibilities are endless but there is a real issue while finding and implementing a practical solution.
I think that bitcoin will be able to improve the economy of the country if it becomes accepted as payment in all places in the country. So more people will start paying with it and improve the financial situation in the country.
Well, in that case, countries will have to put indirect tax as there is no possibility of levying the direct tax on Bitcoin transactions. Since Bitcoin is an international currency, it will create more opportunities especially for the businesses around the world and it will bring the world closer financially. Thus when it comes to the growth of the country, there should be a practical tax structure. There are the people who have no issues to pay taxes but they don't want the governments to control their values.
I massively disagree with this approach
I don't think that taxing Bitcoin specifically is a good idea. How come? If Bitcoin is legally considered as a financial asset (sort of) used mostly for speculation, it could be taxed as other such assets (I guess it would be a capital gains tax). But if Bitcoin is legalized and actually used for buying goods and paying for services, i.e. used as a means of exchange, taxing it is meaningless since that would amount to taxing money which is a clueless and counterproductive idea. Governments do everything to make money more efficient (that's the reason why it emerged in the first place, i.e. to make trade more smooth and efficient) while taxing it would obviously work in the opposite direction
Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?
Bitcoin can improve the economy of country if the citizens of such a particular country offers services which will serve as foreign exchange I.e earning bitcoin and exchanging it to fiat, this will boasts their economy and improve the purchasing power of the people in that country.
Skilled individuals in that particular country will also be gainfully employed by offering their skills where needed online globally and paid with bitcoin.
yes that is right and i am agree with you that bitcoin is providing opportunities to people to earn money and so in this respect we can say that bitcoin is really improving the economy of a country because bitcoin is increasing the per capital income of a person and therefore we can say that bitcoin is really improving the economy of a country. Skilled individuals in that particular country will also be gainfully employed by offering their skills where needed online globally and paid with bitcoin.
Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?
Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?
Bitcoin can improve the economy of country if the citizens of such a particular country offers services which will serve as foreign exchange I.e earning bitcoin and exchanging it to fiat, this will boasts their economy and improve the purchasing power of the people in that country.
Skilled individuals in that particular country will also be gainfully employed by offering their skills where needed online globally and paid with bitcoin.
I strongly agree with you. Bitcoins have got the potential of stabilizing country’s economy by turning unemployed people into useful citizens. Yeah! Skillful people have an edge over those who have little knowledge of digital world. They can surely grab bitcoins by offering their services on foreign platforms eventually stabilizing their economy. Skilled individuals in that particular country will also be gainfully employed by offering their skills where needed online globally and paid with bitcoin.
Bitcoin can improve the economy of country if the citizens of such a particular country offers services which will serve as foreign exchange I.e earning bitcoin and exchanging it to fiat, this will boasts their economy and improve the purchasing power of the people in that country.
Skilled individuals in that particular country will also be gainfully employed by offering their skills where needed online globally and paid with bitcoin.
Skilled individuals in that particular country will also be gainfully employed by offering their skills where needed online globally and paid with bitcoin.
Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?
Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?
Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?
Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?
Sure there is. When a country accepts Bitcoin as a currency to use, everything can be traded or traded using Bitcoin. In addition, Bitcoin will make the country's unemployment rate fall because there will be a lot of people involved in Bitcoin. In addition, Bitcoin will have a number of other effects, such as worldwide transactions, high security, privacy, etc., which will greatly impact on the country accepting it.
I think that bitcoin will be able to improve the economy of the country if it becomes accepted as payment in all places in the country. So more people will start paying with it and improve the financial situation in the country.
Well, in that case, countries will have to put indirect tax as there is no possibility of levying the direct tax on Bitcoin transactions. Since Bitcoin is an international currency, it will create more opportunities especially for the businesses around the world and it will bring the world closer financially. Thus when it comes to the growth of the country, there should be a practical tax structure. There are the people who have no issues to pay taxes but they don't want the governments to control their values.
i dont think so that bitcoin can help to improve the economy of a countries .. but in other side i think maybe help a little if too many people in the country use it .. and if it legalize to exchange in many store or in stock exchange .. bad opinion of my mind sorry hahaha
I think that bitcoin will be able to improve the economy of the country if it becomes accepted as payment in all places in the country. So more people will start paying with it and improve the financial situation in the country.
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