Topic: Do you think Bitcoin can ruin a Country? - page 37. (Read 28333 times)
I don't think bitcoin can ruin a Country because its give us many opportunity like online shopping, trading, recharge e.t.c and if a country government want bitcoin have tax fixed now we can all product or somthing buy sell with bitcoin.it's not a dangers currency so its not ruin a Country.if bitcoin become a main currency of a Country then the government should fixed a tax on bitcoin and I know they do it.
to me bitcoin is blessing for every country.where we can use one currency to buy sell products all over the world when it is available in all country..this way every country can get huge revenue from people of different country..no need for particular tax to increase the fund of government...
Yup. Cut the internet and they are done.
This is going to my article on the topic !! Crypto are a real risk for countries.
Russia announced recently a state funded start up to prevent a sudden loss of control (cf coindesk article)
Victor
So far no country has been damaged by bitcoin factor, so it does not seem to fit that phrase even existence of bitcoin that has brought about a good economic change to its users
It cannot ruin a country, a city perhaps for some certain reason it cannot fully ruin a whole country, and the main reason for that is the underdevelopment of some province regarding technologies.
This is a very good question that I have been asking myself lately, I will write an article on the topic and post it in here.
Victor
Victor
Perhaps. If you think of China being able to hack into some other country's system, then while they can't directly use it to hack but they can secretly do a ransomware and demand LARGE amounts of btc. And since not all governments have the best defence against malware, they do become prone to such attacks for extortion of millions.
Not bitcoin but people who use it for evil things self interest and unlawful acts becoz bitcoin can use for corruption and also the influence of bitcoin is a real deal that's why it's possible to ruin a Country
bitcoin s not created to ruin a country, to me i think bitcoin is created as a currency, and specially using for online purposes, i think currently bitcoin is helping a lot of countries in their economy. it is giving opportunities to those people who do not have any any other source of income, they are really making good profit from bitcoin. 
Not bitcoin but people who use it for evil things self interest and unlawful acts becoz bitcoin can use for corruption and also the influence of bitcoin is a real deal that's why it's possible to ruin a Country
If still on a small scale may not affect a country. But if it is already on a large scale in the conduct of transactions, maybe it will affect the bank to affect the needs of sutu group
thank you
thank you
Well, I'm sure it can be, bitcoin is currently able to stand without government assistance and become a business field. If the government supports bitcoin, it could be bitcoin run a country, because basically bitcoin is money and can be used for the sake of the country.
i don't know but i know that germany will probably get deep packet inspection. and we pay tax on all kinds of storage hardware because it could be for music and the like. following this logic you can expect a tax for downloading the bitcoin client. funny discussions to come..
yeah. I agree with you on this issue, but there is a scope to work here, suppose, Country X approves bitcoin as a currency then obviously the X government will impose on tax or fees on bitcoin. without tax or fees, no government can run. on the other hand, bitcoin is getting popular day by day. so bitcoin and government have to come to a point what will be the process while both can be benefited.
This point that both will be benefited is hard, as people are here to have full profit without benefit any institution, any government... Bitcoin is used to make individual people's life better and not to inject money in governments, a happy society isn't a society with a strong state, but a society with strong individuals.
The point is: People can earn BTCs, make profit from it and invest in their own country (by buying lands, houses, products), moving the economy by themselves and not by a state intervention.
yeah. I agree with you on this issue, but there is a scope to work here, suppose, Country X approves bitcoin as a currency then obviously the X government will impose on tax or fees on bitcoin. without tax or fees, no government can run. on the other hand, bitcoin is getting popular day by day. so bitcoin and government have to come to a point what will be the process while both can be benefited.
It can be both ways.
1) Yes because if most people use Bitcoins and only a few encashes them, there will be no money circulation. I cannot imagine how the banking system can pay off its debts granting there would be hardly any paper money. This situation presupposes that some countries might not honor payment in Bitcoins in lieu of the currency it recognizes. However, it must be put in mind that Bitcoins can also be converted to cash to meet the creditors' requirements.
2) No because Bitcoins can be used in lieu of paper money since it can be converted to the required currency on a case-to-case basis. Otherwise stated, Bitcoins can be used as a tool in facilitating business, may it be in an online or physical merchandise.
1) Yes because if most people use Bitcoins and only a few encashes them, there will be no money circulation. I cannot imagine how the banking system can pay off its debts granting there would be hardly any paper money. This situation presupposes that some countries might not honor payment in Bitcoins in lieu of the currency it recognizes. However, it must be put in mind that Bitcoins can also be converted to cash to meet the creditors' requirements.
2) No because Bitcoins can be used in lieu of paper money since it can be converted to the required currency on a case-to-case basis. Otherwise stated, Bitcoins can be used as a tool in facilitating business, may it be in an online or physical merchandise.
I believe that bitcoin is very-very far of having so much power. Nothing serious can happen. A lot of people even don't know that such thing exists
Well, i just thought, if bitcoin become a currency of one Country, maybe it can destroy that country? Think of it, Bitcoins do not have a tax, and tax are used by the government to make that country a good one, without tax, what will be used to spend and make that country a good one?
What do you think?
There is a simple answer to your question in my mind that if bitcoin will become a currency of the country then it will mean that this country have accepted bitcoin as their legal currency and have legalized it by law then that country have the right to impose tax on bitcoin and so that country is not going to be ruined but both the citizens and country will get benefits of bitcoin. What do you think?
Well, i just thought, if bitcoin become a currency of one Country, maybe it can destroy that country? Think of it, Bitcoins do not have a tax, and tax are used by the government to make that country a good one, without tax, what will be used to spend and make that country a good one?
What do you think?
There is a simple answer to your question in my mind that if bitcoin will become a currency of the country then it will mean that this country have accepted bitcoin as their legal currency and have legalized it by law then that country have the right to impose tax on bitcoin and so that country is not going to be ruined but both the citizens and country will get benefits of bitcoin. What do you think?
I dont think bitcoin can destroy any country as at today because no country has fully adopted the it as a means of exchange and the volume of transactions is not enough to cause havoc in the economic system of any country. And if many country will adopt it, I am sure they will put checks in place to ensure it does not ruin its economy.
yes that is very right that bitcoin is not going to destroy any country, to me i think bitcoin is even providing opportunities to the people to earn money through bitcoin and specially for those people who do not have any day job. Yes, bitcoin cannot ruin the country but it can bring change in many people life because it is provinding many different types of earning where user are making some decent money with bitcoin.
I dont think bitcoin can destroy any country as at today because no country has fully adopted the it as a means of exchange and the volume of transactions is not enough to cause havoc in the economic system of any country. And if many country will adopt it, I am sure they will put checks in place to ensure it does not ruin its economy.
yes that is very right that bitcoin is not going to destroy any country, to me i think bitcoin is even providing opportunities to the people to earn money through bitcoin and specially for those people who do not have any day job. Jump to: