Re: Do you think Bitcoin can ruin a Country?

Well, i just thought, if bitcoin become a currency of one Country, maybe it can destroy that country? Think of it, Bitcoins do not have a tax, and tax are used by the government to make that country a good one, without tax, what will be used to spend and make that country a good one?

What do you think?

Bitcoin a cryptocurrency that will be use to pay worldwide also a good way to invest your money, so for me Bitcoin will do nothing wrong to a country that will use it us a formal currency that will be use in daily transaction and with this it will even improve that country because of this is a worldwide currency and may even affect the world by balancing its value making it equal to all nations. just think of this one a currency that is equal to all nations that will use it.

Bitcoin poses a threat only to the banking system. States have to their credit more money than is now bitcoin. We can't spend bitcoin in stores. In order to buy something we have to exchange it for Fiat. This means that bitcoin supports the state economy. What's wrong if people have more money and warm up the economy with their purchases.

You are just seeing on the one side of the story which you are pertaining on active spending of people who holds bitcoin on that particular place.This is possible but on rare cases because not all people who hold bitcoin will actively spend their bitcoin in exchange on their own local fiat.What if we divert such situation?What if people on that place tend to switch to bitcoin fully and hoard them and not spending it? For sure it would really decrease circulation and supply.Not only that Bitcoin can ruin a country in terms of taxation. People can evade tax because of it.