Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: pakcoy on October 01, 2018, 07:31:05 AM
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We all know that the development of a certain country comes from the taxes of its citizens, and we all know people who engage bitcoin don't pay taxes to the government, what will happen to a country where 80% of its citizens engage in cryptocurrency?
There is a big possibility that this things might happen In the future because bitcoin is growing faster and very known today.
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There is a relationship between bitcoin and the economy. Bitcoin can have an impact on reducing unemployment and opening up opportunities for people working on bitcoin projects. Especially if bitcoin is legalized, I'm sure the world economy will change for the better.
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there is an economic impact on people from bitcoin, at least they work indirectly and make unlimited money if they are lucky,
Bitcoin should be legalized so that every bitcoin holder must pay taxes
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bitcoin can have an impact on unemployment reduction and employment opportunities for people who work on bitcoin projects. Especially if bitvoin is legalized then I believe the world economy will change for the better. because at least indirectly they work and make unlimited money if they are lucky
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it is absolutely true that the development of a country is from public taxes, and if everyone uses bitcoin it will definitely be a tax regulation for bitcoin trading, because I think the government does not want to lose it all.
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We all know that the development of a certain country comes from the taxes of its citizens, and we all know people who engage bitcoin don't pay taxes to the government, what will happen to a country where 80% of its citizens engage in cryptocurrency?
There is a big possibility that this things might happen In the future because bitcoin is growing faster and very known today.
Then the government will do something because they will think that if they apply some rules for the cryptocurrency user, then it will give some income to the country. But we still don't know how much the taxes we should pay because I think the government that will know the amount of the taxes.
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Don't worry to much because there is the word CHANGE. It is always constant specially in cryptocurrency and government. People are constant changing as generation keeps going. Officials would not let the government down same with cryptocurrency admin.
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if I prefer to invest in bitcoin bro. then with bitcoin we can spend with other crypto. With bitcoin our economic life can change for the better
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We all know that the development of a certain country comes from the taxes of its citizens, and we all know people who engage bitcoin don't pay taxes to the government, what will happen to a country where 80% of its citizens engage in cryptocurrency?
There is a big possibility that this things might happen In the future because bitcoin is growing faster and very known today.
I think Bitcoin will improve the financial economy from investor and trader. I personally have gotten alot benefits from invest in bitcoin.
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of course it has a very good impact because then everyone has income and this will certainly reduce unemployment and will help the government in the welfare of its people and if bitcoin is legalized and taxed, this is very good to help the country in developing all things
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@chapcha, one of them is by following the bounty. Bounty or airdrop is a solution to reduce the number of unemployed in each country. Not having to spend money, someone can work by campaigning for projects to earn income.
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We all know that there are countries that banned this bitcoin for its price rises every now and then. Rising of bitcoin currency leads to an imbalance economy of every country. In line with this, government must take action regarding this matter. If this bitcoin currency make it to the top, other investors will not invest in companies anymore, no more investments in small franchise that will lead to an imbalance economy. People will invest more in bitcoin, who would not invest if money here is easy and convenient.
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Economic theory suggests that the volatility of the price of bitcoin will drop when business and consumer usage of bitcoin increases. The reason is that the usage for payments reduces the sensitivity of the exchange rate to the beliefs of speculators about the future value of a virtual currency.
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I can understand this. If a country legalizes Crypto and its citizens are 80% using Crypto. So this will kill the economy in a country. It is clear because there is no income for the government and the state to run the government. Unless the Government makes certain policies or limits Crypto, its citizens use it.
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Economic theory suggests that the volatility of the price of bitcoin will drop when business and consumer usage of bitcoin increases. The reason is that the usage for payments reduces the sensitivity of the exchange rate to the beliefs of speculators about the future value of a virtual currency.
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You forget one thing from this story.
You don't understand the system developed by Bitcoin, Bitcoin can be seen by you when you have a computer, electricity and internet.
If you make payments with Bitcoin and use computers, internet and electricity, then surely you pay taxes too but indirectly.
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Bitcoin is a digital asset designed by its inventor, Satoshi Nakamoto, to work as a currency. It is commonly referred to with terms like: digital currency,:1 digital cash, virtual currency, electronic currency, digital gold, or cryptocurrency.The question whether bitcoin is a currency or not is disputed. Bitcoins have three useful qualities in a currency, according to The Economist in January 2015: they are "hard to earn, limited in supply and easy to verify". Economists define money as a store of value, a medium of exchange and a unit of account, and agree that bitcoin has some way to go to meet all these criteria. It does best as a medium of exchange, as of February 2015 the number of merchants accepting bitcoin has passed 100,000. As of March 2014, the bitcoin market suffered from volatility, limiting the ability of bitcoin to act as a stable store of value, and retailers accepting bitcoin use other currencies as their principal unit of account.
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Government leaders are not idiot to let cryptocurrencies be recognized without any kinds of means for their own packet and land. If the leaders are not evil they would do their very best to make everything in balance from the above to the lowest citizens.
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Economic theory suggests that the volatility of the price of bitcoin will drop when business and consumer usage of bitcoin increases.
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Of course, if Bitcoin is legalized by the state, then the tax burden on the ownership of Bitcoin and Bitcoin assets really really helps the country in reducing unemployment and can make the country more prosperous with tax payments
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If you take, for example, Japan, there citizens are mostly law-abiding and taxes are paid there voluntarily
Both citizens and the state benefit from this. There were reports that the problem exists with the payment of taxes in the United States. Almost all of them voluntarily paid taxes there. However, the reason may be the lack of knowledge how to do it, because the tax is paid there for the first time.
In general, if the government sees that citizens deliberately evade paying taxes from cryptocurrency activities, then it is likely that it will tighten policies on cryptocurrency and people who use it and this will be bad for everyone. Therefore, it is better to pay taxes.
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in my opinion the existence of a bitcoin currency will have an impact on the users of bitcoin, financially their economy will change and will increase the purchasing power of the holders of bitcoin currencies