Let's suppose that Bitcoin became universal (used everywhere you go) - page 13.

Topcarey

newbie

Activity: 64

Merit: 0

Quote from: okissabam on July 02, 2018, 01:43:26 PM

As of now we won’t be paying taxes when we use Bitcoin but in the future if and if it will become used worldwide regularly, the governments will eventually have to do something about it and will find a way for everyone to pay taxes. And the banks still are not taking away the taxes as well, so when you place your money there and you withdraw a certain amount; I think they do get taxed if I’m not mistaken.

One day the whole world will accept bitcoin as their legal and regular currency because bitcoin is backed by blockchain technology and the coming era will be that of blockchain technology. We are looking the current situation that we are not paying taxes and bitcoin cannot hold the market until we pay taxes to government and they legalize bitcoin. Think of the far future.

bitgov

sr. member

Activity: 1554

Merit: 260

Quote from: Aveatrex on May 24, 2018, 04:26:17 PM

Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks

That will be like with normal money, with every transaction you are paying "tax" when you are shopping or paying bills, so goverments will made special taxes and take "more" from people when buying or something and shops for example will need to pay special part of bitcoin for transactions that customers done in period of time, for me that will work in this way.

jagdeepjd

sr. member

Activity: 700

Merit: 251

Quote from: Aveatrex on May 24, 2018, 04:26:17 PM

Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks

This is not feasible and probably not gonna happen anytime soon. The fiat currency will always be there and will always have its own value and uses. And we should also not expect such things too

Nick Abimanyu

member

Activity: 406

Merit: 19

Quote from: Aveatrex on May 24, 2018, 04:26:17 PM

Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks

If bitcoins are truly universal in a country, then the tax system will automatically apply, and this cannot be avoided by anyone, especially for most users including investors and merchants. But if every individual a state reluctant to pay taxes of course the wheels of government cannot run in accordance with its function, development will never happen, welfare and prosperity will be far from expected.

Sled

hero member

Activity: 1680

Merit: 535

Bitcoin- in bullish time

Quote from: aoihs00 on July 03, 2018, 02:10:25 AM

Quote from: Aveatrex on May 24, 2018, 04:26:17 PM

Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks

Are you serious right now. That would be happiest dream or framework of reality! That will be the day when we will announce the digital world day! And also it can be very beneficial for us. You go anywhere in the world and you dont have to be hassling yourself for converting the currencies into the different world currencies. You can just buy and sell anything anywhere in their country, travel the same way as you would in your own country. Looks like everything can get settled very easily in the whole world, we can have easy life I guess.

It will be so great in the future if we will have that kind of world because having a digital currency like bitcoin where we can use anytime and everywhere is such a great achievement for us people who are in the cryptocurrency ever since it is just getting started. Digital currency is the future and the physical currencies will disappear because of their inflation rate.

aoihs00

sr. member

Activity: 700

Merit: 300

Quote from: Aveatrex on May 24, 2018, 04:26:17 PM

Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks

Are you serious right now. That would be happiest dream or framework of reality! That will be the day when we will announce the digital world day! And also it can be very beneficial for us. You go anywhere in the world and you dont have to be hassling yourself for converting the currencies into the different world currencies. You can just buy and sell anything anywhere in their country, travel the same way as you would in your own country. Looks like everything can get settled very easily in the whole world, we can have easy life I guess.

ufaiz50

hero member

Activity: 1666

Merit: 502

Quote from: Aveatrex on May 24, 2018, 04:26:17 PM

Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks

The government imposes taxes not only on individuals who have certain criteria, but the government also apply taxes on businesses or products produced by the company, for example when we buy electronic goods we will surely be in taxes for government, in my country the largest tax revenue is business products not from individuals. so the example when we buy a meal at a restaurant even though you pay with cryptocurrency must have been added the tax in a bill and there is still the possibility of the country gonna survive if its citizens use cryptocurrency. The problem here is from what I see that the government will not accept bitcoin as a currency that is always used by citizens because they have FIAT that helps the country's economy and they can print FIAT.

Burogh

member

Activity: 644

Merit: 10

COVIR.IO

Quote from: Aveatrex on May 24, 2018, 04:26:17 PM

Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks

If we are buying goods or eating on restaurant, we already paying taxes. We know that every goods sell on merchant have added taxes (VAT) more than 10% from the price. Government still get the taxes if bitcoin or cryptocurrency used as payment

patrickj

sr. member

Activity: 490

Merit: 251

Well if that's the case, it's great additionally to know this will happens, we as an early adapters can have huge benefits because we definitely know in any event the developments of bitcoin, if others will came in, we should be happy as a supporters of bitcoin and perhaps drawing in individuals to join bitcoin in light of the fact that it is more helpful to anyplace that needs it for paying their bills.

kalawang

full member

Activity: 350

Merit: 100

Quote from: Aveatrex on May 24, 2018, 04:26:17 PM

Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks

Bitcoin is universal now you dont need to explain the future, and technology. I believe in science fiction is not a bubble cause rich, and technology in your savings. I believe in that bitcoin is not true if you have to think the best thing for those of cryptocurrency. Cause I don't know if you are not capitalism. Cause I support cryptocurrency not capitalism

BeGoods

legendary

Activity: 1372

Merit: 1008

Quote from: gambitcoin53 on July 02, 2018, 09:55:59 PM

Quote from: Aveatrex on May 24, 2018, 04:26:17 PM

Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks

this will happen only when the price of bitcoin is stable and not so volatile, and when internet is accessible by every common people. since bitcoin transaction is digital, internet connection is a necessity. but if this would happen and be possible in the future, i think blockchain technology will be the prime trend in the future. if a country is very much developed like russia and other European country today, then bitcoin transaction will be the main mode of payments and purchasing method that will be in use.

Nope, I'm not too concerned about volatility, because that's what many investors and users use to get a huge profit from bitcoin investments, besides bitcoin can be famous as it is today because prices skyrocket and it's because of volatility, bitcoin could become widely used later..

gambitcoin53

member

Activity: 378

Merit: 25

Quote from: Aveatrex on May 24, 2018, 04:26:17 PM

Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks

this will happen only when the price of bitcoin is stable and not so volatile, and when internet is accessible by every common people. since bitcoin transaction is digital, internet connection is a necessity. but if this would happen and be possible in the future, i think blockchain technology will be the prime trend in the future. if a country is very much developed like russia and other European country today, then bitcoin transaction will be the main mode of payments and purchasing method that will be in use.

Hulh

newbie

Activity: 148

Merit: 0

Quote from: kujaroth on May 24, 2018, 07:50:53 PM

Bitcoin taxes could be added on the food and services you take. For example the Value Added Tax (VAT) is implemented in some countries so almost all of the citizens are contributing taxes anytime they are purchasing those services.

Exactly, you are right that bitcoin taxes could be added on the food and services everywhere and in every transactions. Bitcoin transaction is only the same as the paper bill or the current currency only that bitcoin is universal ,it also fast and easy transactions that is so convenient in this era.

mrcash02

hero member

Activity: 1190

Merit: 525

CryptoTalk.Org - Get Paid for every Post!

Quote from: meanwords on July 01, 2018, 07:52:03 AM

That would actually be plausible though. Having Bitcoin in our daily lives would make it easier as using Bitcoin is a less hustle rather than using those fiat moneys that are easily manipulated. Imagine using a credit card that is made specifically for Bitcoin, that would be great. Regarding the taxes. We simply really cannot avoid the tax that the government will implement because there are a lot of ways for them to know more about you and that things that you are going to purchase when Bitcoin become a normal everyday thing and not as an investment.

Yes, taxes can't be completely avoided. A shop would still need to pay taxes to exist, people would still need to pay taxes to toll roads on the highways to pass with their cars... Taxes would be still diluted on the goods prices like food, clothes, electronics, services, tools... Maybe just some abusive taxes would be avoided and then the society would have to learn how to live without them! (Decreasing the size of the state's machine for an example).

feehannah

jr. member

Activity: 192

Merit: 3

Quote from: xhomerx10 on May 24, 2018, 04:35:02 PM

Quote from: Aveatrex on May 24, 2018, 04:26:17 PM

Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks

Wrong. If you pay with Bitcoin at a business, the business will collect the tax owing on your purchase (it will be part of the total price). If you get Bitcoin as income, generally the company you work for will remit the taxes to the gov't. If you don't pay your property tax, your property will be confiscated and sold for taxes owing. You don't have to worry about governments; they'll get their money out of you one way or another.

If the government will impose taxes for any transactions with bitcoin,i think it will be good for us. One thing that most important of this,bitcoin will be legalized and freely to use it anytime,anywhere without any doubts in our mind. Also,taxes will be used by the government for many things like,concreting roads,providing public school facilities,etc.

okissabam

sr. member

Activity: 700

Merit: 250

As of now we won’t be paying taxes when we use Bitcoin but in the future if and if it will become used worldwide regularly, the governments will eventually have to do something about it and will find a way for everyone to pay taxes. And the banks still are not taking away the taxes as well, so when you place your money there and you withdraw a certain amount; I think they do get taxed if I’m not mistaken.

abc_crypt

newbie

Activity: 65

Merit: 0

I think that between the government and the holders of the crypto currency will be concluded some agreement, which will be something like a new kind of taxes. Or the government will also accept payment of taxes in the crypto currency.

meanwords

full member

Activity: 1624

Merit: 163

That would actually be plausible though. Having Bitcoin in our daily lives would make it easier as using Bitcoin is a less hustle rather than using those fiat moneys that are easily manipulated. Imagine using a credit card that is made specifically for Bitcoin, that would be great. Regarding the taxes. We simply really cannot avoid the tax that the government will implement because there are a lot of ways for them to know more about you and that things that you are going to purchase when Bitcoin become a normal everyday thing and not as an investment.

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

I think the government will apply some taxes for bitcoin user and maybe they will make some regulation too. I think my country will still survive because they will find another way to solve this if this is a problem for them. I am sure that before they decide to used bitcoin as a new currency, they will study and will have the answer for this so when they integrate bitcoin with the system, they don't have any problem and it will run properly and they can still lead the country to the better life.

geegaw

hero member

Activity: 1316

Merit: 502

Quote from: yoseph on June 30, 2018, 11:49:22 AM

Quote from: BitcoinMarketer39 on June 30, 2018, 10:43:46 AM

Quote from: Aveatrex on May 24, 2018, 04:26:17 PM

Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks

If bitcoins will become universal and government will be legalizing cryptocurrency then fiat will just become useless because most of the people today preferred to use bitcoins due to faster transactions and it is a digital currency that you can use to pay online.

The value is going to rise exponentially when Bitcoin does become used almost worldwide. Everyone will start to use bitcoins to pay for everything that they buy.

I do not think the value will increase as you say, what I believe is probably a stability in value, this means that bitcoin will return to the most suitable price that the market can accept, volatility in that situation is very low, only so, the payment will become easier and more convenient. But the person with the most benefit is the government because this only happens when they have completely controlled and applied the tax on bitcoin, tax is never a pleasant thing to many people in the world Bitcoin, so I do not want this to happen

Topic: Let's suppose that Bitcoin became universal (used everywhere you go) - page 13. (Read 25650 times)