Topic: Let's suppose that Bitcoin became universal (used everywhere you go) - page 19. (Read 25623 times)
May 30, 2018, 04:36:50 AM
therefore many countries are banning the use of bitcoin as a means of payment. just like in my country. but perhaps if the state regulates bitcoin holders by paying taxes to each bitcoin holder. might make sense
May 30, 2018, 04:24:14 AM
let's assume that everyone has a static address to transact as we know the transaction on the blockchain is public and permanently recorded out there so it will prevent money laundering, and the government can easily check your assets so you cannot evade paying the taxes. However, it's not decentralized anymore.
Most clients aren't tied to such restrictions, and if they are, then simply avoid them. You will always be able to generate as many addresses and private keys as you want, nothing will ever change that. Governments can't mess with Bitcoin like that.
As long as you are the sole owner of your private keys, and you don't need to ask for permission to move funds from one place to another, everything is completely decentralized. Decentralized however doesn't mean you will obtain much privacy, I think you go wrong there. Privacy is not the same as decentralization. Bitcoin's open nature allows all sorts of agencies to spy on you, and it is already happening. You can't lose what you don't have.
If you are too paranoid that after withdrawing coins from your exchange, then mix your funds before spending them. It will largely help you get rid of the personal taint on them.
May 30, 2018, 04:17:08 AM
I agree, if universal then all is easy to do to buy anything, and everything becomes easier, I support it when it happens
Globally we can use bitcoin but the problem is in local markets and if I want to pay bills or anything else I will need cash money, then bitcoin is of no use. This is all about government decision about bitcoin. If they allow you will use bitcoin in local markets but if they do not you will need local money to buy your daily needs. It will take time for the whole world to use bitcoin as regular currency. May 30, 2018, 12:15:59 AM
If people actually started to use Bitcoin on a wide scale, and governments allows it , then they would be able to collect taxes much the same way as what they are doing right now. If you get Bitcoin as income, generally the company you work with will remit the taxes to the government. If you buy foods, medicines, toiletries, clothes and other life's necessities, you pay the VAT (Value Added Tax). Governments always collects taxes from people directly or indirectly, they always find ways to collect taxes from us. It will become a very great achievement for Bitcoin if it will become universal or being used wherever your go because we will achieved total freedom in Bitcoin transactions.
May 30, 2018, 12:14:32 AM
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 would be widely used anywhere in the world and people could used it freely pretty sure that time the government had already opposing their rules to make it legalize.Possibilities would be they already impossing users to pay taxes to the merchants and the merchants to the government as well.Although its not directly done by us but the government can do something to get taxes from bitcoin merchants and users no matter what it takes. 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
May 29, 2018, 11:44:29 PM
Then we dont need cash, credit cards in our wallets, we only need a phone and internet connection. You dont need to fall in line when if your cash is short. Bitcoin makes our payments more easier.
If bitcoin is universal can be used anywhere, all merchants accept bitcoin, that would be a good thing, but i do not think people will leave cash and fiat because of this, bitcoin problem there are still others? ie transaction fee, if transaction fee is still very expensive, although bitcoin universal, user must be reluctant to spend and use bitcoin for transaction? May 29, 2018, 11:44:17 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
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 merely a global currency.
It's not something that is directly in conflict of the current economic model. If people actually started to use bitcoin on a wide scale, and governments allow that, then they would be able to collect taxes much the same way that they are doing right now.
I doubt that bitcoin would ever completely replaced fiat like in your scenario, though. More likely, bitcoin is simply going to serve as an alternative alongside the existing fiat infrastructure for those who want to protect their wealth in a decentralised asset.
May 29, 2018, 11:40:57 PM
If everyone uses bitcoin, a country will still survive, people will still make traditional businesses, the only difference is that we will be paying / paid with bitcoin, if you are thinking that the economy will collapse, that is far from happening, there will still be capitalists and will take advantage of the situation in order to gain profits, the government may not have their projects, but companies will do, and aside from that, equality for all will take place, no longer a doctor of medicine in the US will be paid more than the doctor of medicine in asia pacific, both will have the same pay and no longer would professionals change their careers abroad, just to compensate finances at home.
That's sounds great, you don't need anything. Just your phone and you can pays. That gives our life a hassle free, and snatches no chance to steal our money.
May 29, 2018, 11:14:28 PM
If everyone uses bitcoin, a country will still survive, people will still make traditional businesses, the only difference is that we will be paying / paid with bitcoin, if you are thinking that the economy will collapse, that is far from happening, there will still be capitalists and will take advantage of the situation in order to gain profits, the government may not have their projects, but companies will do, and aside from that, equality for all will take place, no longer a doctor of medicine in the US will be paid more than the doctor of medicine in asia pacific, both will have the same pay and no longer would professionals change their careers abroad, just to compensate finances at home.
That's sounds great, you don't need anything. Just your phone and you can pays. That gives our life a hassle free, and snatches no chance to steal our money.
May 29, 2018, 10:53:22 PM
If everyone uses bitcoin, a country will still survive, people will still make traditional businesses, the only difference is that we will be paying / paid with bitcoin, if you are thinking that the economy will collapse, that is far from happening, there will still be capitalists and will take advantage of the situation in order to gain profits, the government may not have their projects, but companies will do, and aside from that, equality for all will take place, no longer a doctor of medicine in the US will be paid more than the doctor of medicine in asia pacific, both will have the same pay and no longer would professionals change their careers abroad, just to compensate finances at home.
May 29, 2018, 10:06:47 PM
If everyone is using bitcoin, the government will still be able to collect taxes.
When people buy something, the business tax is still collected by the business, you still have to pay the sales tax, the business will be responsible for the transfer to the government. It used to be paper money, but now it's bitcoin.
When people buy something, the business tax is still collected by the business, you still have to pay the sales tax, the business will be responsible for the transfer to the government. It used to be paper money, but now it's bitcoin.
May 29, 2018, 09:13:22 PM
Then we dont need cash, credit cards in our wallets, we only need a phone and internet connection. You dont need to fall in line when if your cash is short. Bitcoin makes our payments more easier.
May 29, 2018, 08:52:08 PM
There are only two possibilities, first that the scenario you are presenting never happens, after all no government can survive without taxes and the developers of bitcoin will never allow that in the code, the second scenario is that happens and governments will need to learn to exist without taxes, so governments will have to be very small compared to what we have now.
In both cases it's not viable for the government. Theoretically they could survive without tax income, but it would require them to be productive on their own, and not many countries work like that.The system is largely build up to use every entity in the economy as cash cow, which is something that has been going on for decades now. I don't ever think the government will change a working system.
The mass will follow the government's path, where the few brave and smart people will look to distance themselves from it. Governments know that, and as long as they have the sheeples (the mass) following them, they are secured.
May 29, 2018, 07:40:10 PM
That is a very fine to hear that bitcoin will became a universal , where ever you go , it makes our transaction more easy and the payments anywhere you made is so fluid, and you do not have problem in making activities anywhere around the world.
Everyone who is a bitcoin user wants it to be legal all over the world and the reasons are pretty obvious. Everybody wants a freedom from currency conversions because they often suck badly. When we will be having one currency, we all are going to be united as well in real meanings. People will be able to respect each other more and interactions are going to increase as well. I am waiting for it to happen soon. 
May 29, 2018, 06:43:52 PM
That is a very fine to hear that bitcoin will became a universal , where ever you go , it makes our transaction more easy and the payments anywhere you made is so fluid, and you do not have problem in making activities anywhere around the world.
Everyone who is a bitcoin user wants it to be legal all over the world and the reasons are pretty obvious. Everybody wants a freedom from currency conversions because they often suck badly. When we will be having one currency, we all are going to be united as well in real meanings. People will be able to respect each other more and interactions are going to increase as well. I am waiting for it to happen soon. 
May 29, 2018, 05:44:12 PM
It might be a good idea to use bitcoin as a means of payment, but some people are still not familiar with bitcoin, and some countries are opposed to the existence of bitcoins that could damage the real currency. This is still causing controversy to realize bitcoin as a legitimate payment currency, in the absence of a tax then there are some losses to the state because the State needs a source of revenue to finance its expenses, one of its sources is a tax. If we do not pay taxes those who use the richest means they are the most exploited natural resources and use public facilities. in economic activity and no income, in the absence of a tax then distribution, income distribution does not exist, and the gap between the rich and the poor gets bigger. Means to share with fellow beings, for living in the same world. Some tax money is used to preserve nature that has benefited humans.
If everyone was using Bitcoin, you would still have to pay taxes just the same as if you were using the local fiat. Transacting in Bitcoin doesn't magically exempt anyone from the obligation to pay taxes, and it's not any harder or easier to evade taxes if you're using Bitcoin than if you're using pure cash. Both systems would are built on businesses reporting their sales data and making tax payments. So state opposition to Bitcoin and crypto is not tax-based, but more likely the fact that it's been completely unregulated and rife with scammers. Loss of economic activity due to people being swindled is in the state's interest, since the state has the burden of providing law and order and also wants to foster economic prosperity.
May 29, 2018, 12:26:20 AM
It might be a good idea to use bitcoin as a means of payment, but some people are still not familiar with bitcoin, and some countries are opposed to the existence of bitcoins that could damage the real currency. This is still causing controversy to realize bitcoin as a legitimate payment currency, in the absence of a tax then there are some losses to the state because the State needs a source of revenue to finance its expenses, one of its sources is a tax. If we do not pay taxes those who use the richest means they are the most exploited natural resources and use public facilities. in economic activity and no income, in the absence of a tax then distribution, income distribution does not exist, and the gap between the rich and the poor gets bigger. Means to share with fellow beings, for living in the same world. Some tax money is used to preserve nature that has benefited humans.
May 29, 2018, 12:24:49 AM
It will become a huge achievement for bitcoin if we will see that bitcoin will become universal or being used wherever your go because that is a totally freedom and that means that you can use your bitcoin like a regular money or currency and there is no need for people to be skeptical because they can see that bitcoin is having a huge progress.
May 29, 2018, 12:03:17 AM
I'm pretty sure once crypto currencies are widely used and it is used for goods and services then governments would actually place a tax on it. Besides, businesses places taxes over their products and at the end the government collect them. I think it would still be business as usual, only this time with a more efficient currency.
May 28, 2018, 11:59:50 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
There are only two possibilities, first that the scenario you are presenting never happens, after all no government can survive without taxes and the developers of bitcoin will never allow that in the code, the second scenario is that happens and governments will need to learn to exist without taxes, so governments will have to be very small compared to what we have now. 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
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