Topic: Let's suppose that Bitcoin became universal (used everywhere you go) - page 6. (Read 25623 times)
December 04, 2018, 02:17:30 PM
as per twitter ceo statement bitcoin will be internet only currency and even snapchat founder to said the same bitcoin will be major internet currency for online payments
December 04, 2018, 01:51:14 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 bitcoin is used then there will definitely be tax, that you already know if there is no tax, the government revenue will go down and it cannot be adopted, if bitcoin can be used as a payment tool, there will certainly be regulations regarding tax using bitcoin. 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
December 04, 2018, 01:35:24 AM
I think if it would happen that bitcoin become universal there would be a huge adjustment in terms taxation. We know that bitcoin transaction is anonymous to anyone so taxes would be hard to implement. So, it must have regulation but i think it's hard for bitcoin is a decentralized.
December 03, 2018, 05:53:53 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 is very nice! If I can use my bitcoin wherever I am, wow! Its techie. In my case, it is not a hassle for me to scan QR code and pay using my digital wallet. I can use it because already study about cryptocurrencies. What about other people? I think it is good if everyone really knows it before bitcoin will become the way of payment all over the world. 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
December 03, 2018, 02:46:17 PM
Bitcoin can never substitute for traditional fiat currency.
It was designed for different purpose and can hardly fit requirements put forward to fiat currency. If anything, there should be some new Cryptocurrency that will fit society needs and it will not be Bitcoin.
It was designed for different purpose and can hardly fit requirements put forward to fiat currency. If anything, there should be some new Cryptocurrency that will fit society needs and it will not be Bitcoin.
December 03, 2018, 11:49:01 AM
The widespread adoption of Bitcoin doesn't at all force the entire world to give up absolutely all standards adopted in a long time.
If it is about the fact that Bitcoin will replace absolutely all the money in the world, that I assume that everything with taxes will remain as well. If you received payment for work in Bitcoin, then you must pay the appropriate tax. The movement of Bitcoin in this case is not difficult to track: Bitcoin entered from the employer to the employee, so the employee must pay the appropriate tax.
But the scenario of such a future is unlikely, since Bitcoin was originally created as a protest to the banking system and it is not known by whom, so it is unlikely to be accepted for use as a world currency. For these purposes, another currency will be created, one that may be controlled completely.
We can encourage people to used Bitcoin but we cannot force them to adopt it because nowadays most of them have mindset that cryptocurrency is scam or when it comes from in technology they have mindset that it is not trustworthy. Also the other problem not all country can adopt Bitcoin to used because some of them are banning their people to used it.If it is about the fact that Bitcoin will replace absolutely all the money in the world, that I assume that everything with taxes will remain as well. If you received payment for work in Bitcoin, then you must pay the appropriate tax. The movement of Bitcoin in this case is not difficult to track: Bitcoin entered from the employer to the employee, so the employee must pay the appropriate tax.
But the scenario of such a future is unlikely, since Bitcoin was originally created as a protest to the banking system and it is not known by whom, so it is unlikely to be accepted for use as a world currency. For these purposes, another currency will be created, one that may be controlled completely.
December 02, 2018, 07:42:31 AM
I am confused after reading your post. From what I can intercept, you are saying that use of crypto will completely eliminate the taxes. But I believe that if we have global acceptance of crypto, it will bring more transparency in tax system.
Also, how can you assume that a country will legalise crypto without judging or analysing the merits and demerits in relation to taxation part.
before there is a clear regulation, of course this can eliminate taxes in every investment, but if there are regulations from government, i think government also does not want to lose Also, how can you assume that a country will legalise crypto without judging or analysing the merits and demerits in relation to taxation part.
December 02, 2018, 05:39:41 AM
If that will be true that bitcoin became universal and it will be used everywhere you go ,then that is the dream of all bitcoin and cryptoholders that the bitcoin is used and accepted worldwide and any places , that will be the comfort of all cryptoholders.
December 02, 2018, 04:29:19 AM
I am confused after reading your post. From what I can intercept, you are saying that use of crypto will completely eliminate the taxes. But I believe that if we have global acceptance of crypto, it will bring more transparency in tax system.
Also, how can you assume that a country will legalise crypto without judging or analysing the merits and demerits in relation to taxation part.
Also, how can you assume that a country will legalise crypto without judging or analysing the merits and demerits in relation to taxation part.
December 02, 2018, 03:17:53 AM
Bitcoin is more suitable for cross-border transactions, while domestic transactions may require coins like XLM. The minimum transfer amount for bitcoin handling fees is limited and not suitable for all payment uses. But other coins can make up for this shortcoming.
November 29, 2018, 12:09:55 AM
well taxes are some of the income for goverment to making circualated money that can afford for country to doing import or for some national administration, if bitcoin are accepted and just think that they need is some source of an income, and that will just related bitcoin like a money
November 28, 2018, 11:51:44 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
Some of those that have the most extreme views about this market see that as a good thing and not as something bad, personally it is my opinion that governments are too big and too expensive so it is a good thing that if cryptocurrencies become widely adopted that governments are going to need to find a way to do more with less and will have a reduced size. 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
November 28, 2018, 05:27:46 AM
Still governments can record your income just like how you are doing like from getting salaried so they can get records from companies or doing self business then you will need to submit the bills or the contracts you have been paid for and many other things they can get our income details and also we need to pay our taxes as a citizen to our country.
November 28, 2018, 05:27:24 AM
bitcoin can be used as a currency or a means of payment if all the infrastructure in the country supports such as the internet network in all corners of the country, a good understanding of crypto people and also ATMs for bitcoin and more.
I do not imagine when countries do not have income from taxes, what they can build, whether the state is able to fulfill every need they do every day, what about civil servants' salaries and much more that is hard to imagine without tax
I do not imagine when countries do not have income from taxes, what they can build, whether the state is able to fulfill every need they do every day, what about civil servants' salaries and much more that is hard to imagine without tax
November 28, 2018, 05:26:55 AM
I think there will be positives and negatives. in positive terms we might find it easier to make transactions and be able to keep up with the increasingly sophisticated times, while the negative is that everyone is naturally required to have bitcoin to make transactions, and cash will be increasingly forgotten.
I don't think that is a negative thing dude, the more people use bitcoin it will certainly be good for bitcoin itself right? after all, cash will certainly disappear as technology advances, when bitcoin can be as easy as using fiat, of course it will provide convenience for usersI see only positive things here. If Bitcoin is accepted everywhere, it means that you can travel even without cash or credit cards. You will be never robbed and you will never lose your money.
November 28, 2018, 05:20:33 AM
The widespread adoption of Bitcoin doesn't at all force the entire world to give up absolutely all standards adopted in a long time.
If it is about the fact that Bitcoin will replace absolutely all the money in the world, that I assume that everything with taxes will remain as well. If you received payment for work in Bitcoin, then you must pay the appropriate tax. The movement of Bitcoin in this case is not difficult to track: Bitcoin entered from the employer to the employee, so the employee must pay the appropriate tax.
But the scenario of such a future is unlikely, since Bitcoin was originally created as a protest to the banking system and it is not known by whom, so it is unlikely to be accepted for use as a world currency. For these purposes, another currency will be created, one that may be controlled completely.
If it is about the fact that Bitcoin will replace absolutely all the money in the world, that I assume that everything with taxes will remain as well. If you received payment for work in Bitcoin, then you must pay the appropriate tax. The movement of Bitcoin in this case is not difficult to track: Bitcoin entered from the employer to the employee, so the employee must pay the appropriate tax.
But the scenario of such a future is unlikely, since Bitcoin was originally created as a protest to the banking system and it is not known by whom, so it is unlikely to be accepted for use as a world currency. For these purposes, another currency will be created, one that may be controlled completely.
Tax has absolutely nothing to do with Bitcoin and I'm still amused at how people think using Bitcoin relieves you of that entirely social duty to contribute to your own society's and country's development and maintenance. Whether or not your state misuses or abuses that revenue is an entirely different matter - if you choose to live within the borders of a state, then you choose to be governed by its laws, and are required to make your own contribution to its upkeep with your money. Your money being Bitcoin doesn't change that.
November 28, 2018, 05:17:08 AM
What makes you think that it is unnecessary to pay taxes on the use of bitcoin? In all countries where cryptocurrency and bitcoin is legalized, all people who use bitcoin and cryptocurrency pay incredible taxes and therefore any country will never go broke. Also, if all countries completely switch to bitcoins, then I think that nothing will change, it will be the same as we are now using fiat, but we will just only use bitcoins. I think governments will find a way out of any situation.
November 27, 2018, 02:38:11 PM
I think there will be positives and negatives. in positive terms we might find it easier to make transactions and be able to keep up with the increasingly sophisticated times, while the negative is that everyone is naturally required to have bitcoin to make transactions, and cash will be increasingly forgotten.
I don't think that is a negative thing dude, the more people use bitcoin it will certainly be good for bitcoin itself right? after all, cash will certainly disappear as technology advances, when bitcoin can be as easy as using fiat, of course it will provide convenience for usersI see only positive things here. If Bitcoin is accepted everywhere, it means that you can travel even without cash or credit cards. You will be never robbed and you will never lose your money.
November 26, 2018, 07:27:29 PM
The widespread adoption of Bitcoin doesn't at all force the entire world to give up absolutely all standards adopted in a long time.
If it is about the fact that Bitcoin will replace absolutely all the money in the world, that I assume that everything with taxes will remain as well. If you received payment for work in Bitcoin, then you must pay the appropriate tax. The movement of Bitcoin in this case is not difficult to track: Bitcoin entered from the employer to the employee, so the employee must pay the appropriate tax.
But the scenario of such a future is unlikely, since Bitcoin was originally created as a protest to the banking system and it is not known by whom, so it is unlikely to be accepted for use as a world currency. For these purposes, another currency will be created, one that may be controlled completely.
We can encourage people to used Bitcoin but we cannot force them to adopt it because nowadays most of them have mindset that cryptocurrency is scam or when it comes from in technology they have mindset that it is not trustworthy. Also the other problem not all country can adopt Bitcoin to used because some of them are banning their people to used it. If it is about the fact that Bitcoin will replace absolutely all the money in the world, that I assume that everything with taxes will remain as well. If you received payment for work in Bitcoin, then you must pay the appropriate tax. The movement of Bitcoin in this case is not difficult to track: Bitcoin entered from the employer to the employee, so the employee must pay the appropriate tax.
But the scenario of such a future is unlikely, since Bitcoin was originally created as a protest to the banking system and it is not known by whom, so it is unlikely to be accepted for use as a world currency. For these purposes, another currency will be created, one that may be controlled completely.
November 26, 2018, 05:56:09 PM
The widespread adoption of Bitcoin doesn't at all force the entire world to give up absolutely all standards adopted in a long time.
If it is about the fact that Bitcoin will replace absolutely all the money in the world, that I assume that everything with taxes will remain as well. If you received payment for work in Bitcoin, then you must pay the appropriate tax. The movement of Bitcoin in this case is not difficult to track: Bitcoin entered from the employer to the employee, so the employee must pay the appropriate tax.
But the scenario of such a future is unlikely, since Bitcoin was originally created as a protest to the banking system and it is not known by whom, so it is unlikely to be accepted for use as a world currency. For these purposes, another currency will be created, one that may be controlled completely.
If it is about the fact that Bitcoin will replace absolutely all the money in the world, that I assume that everything with taxes will remain as well. If you received payment for work in Bitcoin, then you must pay the appropriate tax. The movement of Bitcoin in this case is not difficult to track: Bitcoin entered from the employer to the employee, so the employee must pay the appropriate tax.
But the scenario of such a future is unlikely, since Bitcoin was originally created as a protest to the banking system and it is not known by whom, so it is unlikely to be accepted for use as a world currency. For these purposes, another currency will be created, one that may be controlled completely.
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