Topic: Do you think Bitcoin can ruin a Country? - page 9. (Read 28336 times)
Bitcoin is created as a virtual payment system and it is not designed to destroy any country. But if bitcoin is legalized and become a legal tender in a country, its economy might get affected because of its volatility especially when the bitcoin become widely used. This may be the reason why some governments are reluctant to accept bitcoin as one of their currencies or legal tender.
I think this is returned to everyone, if this bitcoin is in the hands of the evil will certainly damage a country ,, because bitcoin transactions are difficult to track ,, but it will be different if there is in the hands of a good person
Oh yeah definitely! maybe a country with more than 50M population, in that way their currency becomes more valuable than diamond.
Not to mention the lack of liquidity will be their demise if not lack of taxation.
Not to mention the lack of liquidity will be their demise if not lack of taxation.
Do you really think that the government will allow in not collecting proper amount of tax if that will happen? Ofcourse not mate and Definitely the goverment will take action for that and worst will bring them to make bitcoin illegal to use by the countrymen.
Bitcoin does not have any possibility and never set a goal to destroy something, especially whole countries. It is designed to create, not destroy, in this case to improve financial relations between people, in order to make them easier, more reliable and faster, to remove between them third parties who control this relationship. As virtual money, which must go along with the national money of any state, but not substitute for them, bitcoin can not harm the state.
Well said mate. Bitcoin are made give people an option for investment just like in real state and for easier and faster transaction like paying our bills online just like having a credit card but in easiest way because we can made transactions at home or in our office tables. But absolutely not to destroy anything.
No I don't think so bacause, when people of any country get benefit from Bitcoins then that countries people get rich if government of that country is going to legal bitcoin trading then that country also get baefit in shape of texes 
Bitcoin can certainly be used in a damaging way. It can be used to avoid taxes, as you've said, but most are concerned about money laundering and currency outflows. If done on a large enough scale, it can potentially do long term damage to an economy.
I assume that bitcoin can't but there is also a low possibility that it can ruin a Country. What if, what if someone who uses bitcoin do a crime and uses a bitcoin. There's always a possibility for everything. We don't know what will happen even if bitcoin will come to the point that it will be legalize soon there is always a chance that someone use it wrong.
Bitcoin does not have any possibility and never set a goal to destroy something, especially whole countries. It is designed to create, not destroy, in this case to improve financial relations between people, in order to make them easier, more reliable and faster, to remove between them third parties who control this relationship. As virtual money, which must go along with the national money of any state, but not substitute for them, bitcoin can not harm the state.
People who uses Bitcoin to do evil, crime and other negatives thing inside a country will cause it ruins not the Bitcoin itself, like when they buy or sell weapons to destroy a certain place or to kill people, do human trafficking with Bitcoin as payments, and many more...
If these people will not use bitcoin then they will use another currency to do crime and to do other evils. As there is nothing in bitcoin which impose a person to become evil and to start evil things and many of the people here are working fair but the people who do evil just because they are by nature like that. They are already evil and they do evil in fiat and in bitcoin what ever they find as an easy currency. I think that such a threat is greatly exaggerated. Bitcoin has an impact on the speculative segment, not on the economy as a whole. Moreover, the blockchain technology itself is not yet so developed - both in the corporate and industrial segments.
You are right, it will be legalize soon, so we don't need to worry about it, for sure all country will finally adapt bitcoin in their system and to the whole country, and would become part of our everyday life, ruin term is just for those banks that they think bitcoin gave them a big trouble.
I think that such a threat is greatly exaggerated. Bitcoin has an impact on the speculative segment, not on the economy as a whole. Moreover, the blockchain technology itself is not yet so developed - both in the corporate and industrial segments.
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?
bitcoin is not going to ruin a country, bitcoin is providing opportunities to its people for investment and trading, so bitcoin can be a good tool to increase the status of a country economically. i think if government take serious step about bitcoin and regularize then they can also impose tax on it and will certainly collect good tax from bitcoin. What do you think?
Yes, I completely Agree.
The bitcoin will become that mechanism which will be able to resolve an issue of corruption, bureaucracies. Will be able to help to realize startups in the countries where it was impossible.In General, this technology will turn the whole world. It is only necessary to wait.
Bitcoin can not destroy the State, if used with positive things, but if used in a negative way Bitcoin might ruin the country.
Bitcoin will never become a national currency. Accordingly, he will not be able to ruin the country. I think it is more useful for ordinary people.
Bitcoin under no circumstances can destroy the economy of the state. He simply can not do it. If bitcoin will go as an alternative to the national money of the state, it can even positively influence the economy of such a state. However, if bitcoin is recognized as the main currency of this country, it can badly affect the economy of the country due to its large volatility and practically unbalance the economy of this country. Therefore, I think, no state will ever recognize bitcoin as the main currency of this country.
In some countries where funds are strictly regulated, such as China, cryptocurrencies such as Bitcoin can effectively avoid government supervision and allow capital to flow offshore. The economy of these countries relies heavily on the real estate industry, once funds cannot flow into the real estate industry. , then the country's economy will collapse, so Bitcoin is something they fear.
Bitcoin is not going to destroy a country and can't become a currency of one country as you say. But i think this digital currency can help some people to make money and live better on their respectively country.And also i agree with your statement 
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?
I don't think government will allow bitcoin to be a currency of one country without any good return from it to the government and let's say it will happen that bitcoin will be a currency of a country still it can't ruin it but a helping tool to the community as a source of income. If people from that country will earn money from btc they have a budget of buying any product from that place and that product are giving a tax to the government. So still bitcoin is helping the economy of a country. What do you think?
No, bitcoin can't ruined the country. Yes it can be counted as digital income, but people who work on the government already banned crypto currencies at all or created digital taxes for such income.
We live in the modern world where nobody will fight with bitcoin, the government is just smartly and easy turning bitcoin to work on them.
We live in the modern world where nobody will fight with bitcoin, the government is just smartly and easy turning bitcoin to work on them.
Bitcoin can't ruin the country.In fact,it can help every individual for their financial needs unless bitcoin is being abused or illegally used by the people in the society.
If you allow tax escape, the country will die.
In order not to do so, the nation should not give excessive taxation in anticipation of its future potential, and appropriate taxation should be done.
We should pay taxes if we are protected by the state. Otherwise migration will increase to countries with low taxes.
In order not to do so, the nation should not give excessive taxation in anticipation of its future potential, and appropriate taxation should be done.
We should pay taxes if we are protected by the state. Otherwise migration will increase to countries with low taxes.
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