Let's suppose that Bitcoin became universal (used everywhere you go) - page 14.

yoseph

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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.

Soneo

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Quote from: 7Dyoknga5 on June 08, 2018, 01:01:54 AM

It will be possible if cryptocurrency is recognized by the government. It will be a long process as not all people are aware of its use as well as the potential problems it might have.

Of course regulation of the cryptocurrency by the government will be needed before it will be recognize in which many of the users are separted. Most don't agree on crypto's to be regulated.

I think I would rather pay more for every product in the store, or to own real estate, than rob my percentage of my income every month.
Not at all, they just have to adjust. Because it would be easier for people to hide income, the government should impose income tax (which is not fair anyway) and increase other taxes such as VAT. If there is no fiat (which I doubt will happen) and the world uses pure cryptocurrency, the government must raise money by imposing sales and property taxes. It used to be done this way and it's still done all over the world.

BitcoinMarketer39

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ADABsSsSsSsSSSsS

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.

Crypdon

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Governments can view the ledger but they don't know who the wallets belong to. Perhaps you would have to assign a wallet to your name in order to be publicly identifiable, and then pay taxes based on wallet income

dongyi17

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FRX: Ferocious Alpha

I think even if bitcoin is use everywhere, anytime there will always be taxes because those restaurant and other business establishment need to pay their due to government or else they will not be given permit.. and so as bitcoin is being used everywhere, anytime and became universal so is taxes too.

Kris34

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This is of course great, but there are many nuances at once. Who will monitor and service everything, what will happen if the electricity is disconnected, as we will perform operations if there is no Internet.

danyakotletkin2018

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This is the dream of all the fans of bitcoin. You can pay everywhere, perform various operations. I hope soon it will happen.

Popov_popov

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The state can earn on its own if it takes bitcoin and takes up its prey. And the people do not have to pay taxes and the state is provided.

microwave

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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

Yes that's true Bitcoin have no taxes yet, but we don't know the future of bitcoin what's the result of being popular is it Succeed? or not. That's the big question for bitcoin now, well for me according to my analysis I hope bitcoin is still in alternative source of income because if this is a primary use to all I think Low Class of Living will affected here because government stop support to the poor because no taxes income from bitcoin.

leostrong.mo

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If one day, BTC enters our daily life!
The government can use BTC to replace the current legal currency for economic activities!
Businesses and individuals also have to pay taxes, but change from the legal currency to BTC!

slyfox

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Quote from: Kelvinid on June 15, 2018, 06:26:27 PM

Quote from: slyfox on June 15, 2018, 05:30:55 PM

Quote from: tabas on June 07, 2018, 02:39:06 AM

Most countries are depending on taxes so it's going to make the survivability of the country lesser and can make the citizens suffer.
But bitcoin profits are taxable and they may implement to the people who are earning through to declare their income.

I do not know how the budget of the governments of your country is distributed but in my country most of the budget goes towards maintaining the government, social programs and health programs, when in reality the last two things are not a responsibility of the state if you were to cut most of that funding governments could operate with 60% to 80 less taxes.

I think the projects are just the same with my own country.If bitcoin will be universally used,i'm sure the government will find ways how to get taxes from those bitcoin users,maybe from the employer itself,taxes are already deducted from our salary.Or if self-employed,we should be responsible enough to pay our own taxes.

They are trying new ways to try to get taxes out of people without them realizing it, but it is going to be impossible to get taxes out of bitcoin users once the adoption of bitcoin grows considerably and even if some governments could do that, it does not means all the governments will do the same, it is entirely possible a country appears where you are not charged taxes for your bitcoin profits and the only thing you need to do is to move there.

naily

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In addition to selling goods to foreign countries including one way the state receives income. Because the income of the majority of the country from the tax to be paid the population so that the state should be able to provide an opportunity for residents to start investing in bitcoin to earn additional income at any time

ngano ba

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If it will really happen that bitcoin became universal and used everywhere ,then it is good for bitcoin holders around the world , whenever, whereever the bitcoin holders go they do not need currency exchanges because bitcoin can be used anywhere else.So you do not have to carry money because bitcoin is universal currency.

jonatuzc

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Quote from: cryptokia on June 18, 2018, 10:47:00 AM

It is going to be not very different, from what it is now, because I pay everywhere I go with single card, so it will be bictoin, maybe on my ledger instead of a card I use for now.

But you would be able to make some swift international transaction then which might be cheap and would not cost you much. I believe Bitcoin can become the international currency and that way, it will expand more and will make lives easy for people to use their coins in any part of the world. They would not need to convert their currency into another when traveling abroad. There are limitless possibilities.

Aleh777

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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

I would love to accept it. But I wish because of mass adoption bitcoin value should not remain stable as like other fiats. The value should be fluctuating and such move should be thrilling everyone. Such environment would boost up many more to use more crypto currencies.Fiats circulation will be affected but the concern countries economy would be moving positively up right. Let's hope for this adaption very soon.

cryptokia

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It is going to be not very different, from what it is now, because I pay everywhere I go with single card, so it will be bictoin, maybe on my ledger instead of a card I use for now.

farosa

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1 & 0 😏

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

Undoubtedly, if governments accept it as paying bills, getting salary, shopping, restaurant etc, we have to pay the same tax. So humanity can not live without control, now we can see this as Bitcoin's fall. If there are governments, their promise is enough for the price to be 50k.

elkafee79

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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

I think the government can not manipulate Bitcoin to affect their own economy and inflame it to make their bills effectively smaller. They will give up enormous control. Because Government can not cotroll bitcoin over.

Digital_Lord

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👉bit.ly/3QXp3oh | 🔥 Ultimate Launc

Quote from: vqscyxuo on June 02, 2018, 02:50:34 AM

In the future, bitcoin will surely be adopted in large numbers, and maybe more altcoin will be combined with many industries. But we don't need to worry about government taxes. They can levy taxes on your wallet.

Bitcoin popularity is already increasing too much, now we can see that even in backward countries people are using bitcoin for different purposes, I am sure that in future bitcoin will be the main currency of the people and they will be using it for everything for which they are currently using fiat currency.

DaftAjax

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Merit: 284

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

A country will still survive, you wanna know why? Because the government will either regulate it or ban it. So if you're lucky and your country only regulates cryptocurrencies then you'll be fine, but you will still pay your taxes. I think taxing is a system that let's you become a citizen of that country, so whether you're employed or not you will still be taxed.

Topic: Let's suppose that Bitcoin became universal (used everywhere you go) - page 14. (Read 25646 times)