Let's suppose that Bitcoin became universal (used everywhere you go) - page 17.

cah ndablek

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Because the income of the majority country of the tax to be paid the population so the state should be able to provide an opportunity for the population to start investing in bitcoin in order to earn additional income every time.In addition to selling an item to foreign countries including one of the ways the state to receive income.

0t3p0t

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Quote from: Aveatrex on May 24, 2018, 05:26:17 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 a country cannot survive if we only use Bitcoin in a daily basis because of high fees and delay that might move the economy down. When it comes to taxes, how can they collect taxes if we don't need to convert into fiat money? This so complicated and will just make some confusions. For me , Bitcoin as digital money plus fiat money would really make the whole thing possible and great for everybody's convenience.

DropBombzENT

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I will pay bitcoin everywhere: buying food, air tickets, first necessities and luxury goods

Idrisu

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Bitcoin is going to be used to pay for bills, buying good and services in future all over the world and it will be good and we would actually enjoy it. But I doubt if fiat can be completely wiped out from our system and we are not going to completely wiped out the financial system we have now therefore bitcoin alone cannot be used all over the world and there must be some kind type of money that will be continuously be used by common men.

Casabrandy

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Quote from: tukang_rosok on June 03, 2018, 10:03:54 AM

Quote from: Umar001 on June 03, 2018, 06:21:16 AM

It will be amazing, if we can use bitcoin to pay our bills, use it to purchase one thing or the others, settled our debt etc globally,. It is possible only if its registered with appropriate authority, with partially control by the government authority, then it will bring public confident and universal acceptable.

it can happen soon after goverment legalize bitcoin and other cryptocurrency.evenmore if china , korean and america accepted bitcoin in their regulation, i am sure all thing you mentioned above will be a fact.

With bitcoin innovation and uses that is practically beneficial to everyone, soon government and many sectors like in Japan will definitely see its use and importance that BTC will be able to use anywhere at all.

tukang_rosok

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Quote from: Umar001 on June 03, 2018, 06:21:16 AM

It will be amazing, if we can use bitcoin to pay our bills, use it to purchase one thing or the others, settled our debt etc globally,. It is possible only if its registered with appropriate authority, with partially control by the government authority, then it will bring public confident and universal acceptable.

it can happen soon after goverment legalize bitcoin and other cryptocurrency.evenmore if china , korean and america accepted bitcoin in their regulation, i am sure all thing you mentioned above will be a fact.

East2011

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Quote from: Aveatrex on May 24, 2018, 05:26:17 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 this is impossible to happen in our country. Because our country has a high number of poor people. And not all people.has an access to the internet.

Godexists

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of course it will great for everyone.we can easily pay bills or we can buy our everyday needs.you can use btc in everywhere. and etc.its useful..

Umar001

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It will be amazing, if we can use bitcoin to pay our bills, use it to purchase one thing or the others, settled our debt etc globally,. It is possible only if its registered with appropriate authority, with partially control by the government authority, then it will bring public confident and universal acceptable.

icopump

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Wow that's wonderful if everywhere we can use bitcoin to pay bills, buy anything. But actually the bill amount and the purchase price of any product will be inclusive of taxes, so no need of worrying of taxes.

fcf1081

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Suppose bitcoin will become universal then the transaction will be made easy because you can now access through many different countries whatever you do,whenever, wherever you are you can now use bitcoin.

Zeque02

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Quote from: Hopeful2017 on May 30, 2018, 05:23:35 PM

Quote from: Aveatrex on May 24, 2018, 05:26:17 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 that happens, surely, government will also put tax on bitcoin. Every single transaction will also be taxed. Government will put regulations especially in digital assets you have.

In real life I think it is far from the truth. Assuming that bitcoin became universal it has advantage and disadvantage. Advantage in terms of time, it is hasslefree and less time of processing as long the internet connection is fast because it can really affect the transactions of different payments and also it can give extra income and profit while the disadvantage part is, the value is not totally stable, then there is possibility that many will be in unemployed list.

napi

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yes we have to help bitcoin and support bitcoin to be used in all places and in all countries so bitcoin can become famous and bitcoin can be very expensive because many use bitcoin.

Uno17

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Hypothetically, it’s good also if it happens, advantage to the early bitcoiners because they have already step up in bitcoin community, they already know at least the movements of bitcoins, if it happens one day it will give convenience to bitcoin supporters and maybe attracting people to join bitcoin because it is more useful to anywhere in any use.

gamalzour

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Quote from: shield132 on May 24, 2018, 05:42:17 PM

Quote from: Aveatrex on May 24, 2018, 05:26:17 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

You made my day...
Bitcoin just broke whole goverment yeah? Because they can't tax businesses which use bitcoin? Cmon man, if things would be like that, believe me, bitcoin could be more widely used than fiat because no one likes paying taxes and while people do dirty job in order to hide incomes, if there was bitcoin as a legal way, business owners would make you to turn into bitcoin in any way for their sake.

I want to actually believe that they will find every means to make sure that things are limited in a way, and every business may have to end up using an exchange account tied to however they want to receive payment to be able to conclude any transactions, which is basically on the business part now. With respect to individuals, really, only rich people and business men should be paying tax, and moreover the VAT we pay on goods we buy is enough anyway.

vqscyxuo

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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.

GregH37

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Quote from: Aveatrex on May 24, 2018, 05:26:17 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

You are responsible for paying your own tax and as long as you do not do that, you are definitely going to have to face the tax evasion law. Sure, you may think it is going to be easy with the pseudo anonymous nature of bitcoin, but one way or the other, for a developed system, there are certain things that you will end up doing that you can still be caught. Moreover, have you not noticed that when you pay something via the POS terminal, there is a tax levy attached to what you are purchasing?

muddy waters

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Quote from: Aveatrex on May 24, 2018, 05:26:17 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

They would find a way to pay taxes with bitcoin.
For example, if an employee gets his salary in btc, some fixed amount (say 15%) will be withdrawn from the sum to be paid.
And this could easily be tracked by every government, which could impose penalties on employers that do not follow this rule.

reverseflash

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Believe, the state will always find a method to gain the income. A typical example - Belarus and a tax on parasitism.

Betwrong

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I stand with Ukraine.

Quote from: neonshium on June 01, 2018, 03:42:37 AM

Funny question. You want to know how it’s going to be with Bitcoin being accepted only instead of fiat? Okay this is it– first of all, all the beggars you see on the street will die because nobody will be able to give them money for food since there is no way for them to receive (though not all of them will die lol) next, when you enter taxi and about to pay the driver, you will spend your whole time sending Bitcoin waiting for it to be confirmed before you get down from the taxi, same thing applies to when you go to buy food and other stuffs, waste of time… In fact, no need to go further.

You know yourself that the beggars will no die. There are many other opportunities to give them food apart from giving them money(which they spend on buying alcohol and drugs in some cases btw).

But I want to show you that you were wrong on the taxi either. Imagine a situation when a taxi company, Uber, for example, creates official site where users can deposit $100 worth of BTC and then use it for their rides. In this case transactions would be instant regardless of the current speed of transactions on the blockchain.

This same approach can be applied to other business dealings like buying food, stuff etc.

Topic: Let's suppose that Bitcoin became universal (used everywhere you go) - page 17. (Read 25623 times)