Quote from: Aveatrex on May 24, 2018, 09:49:05 PM

Quote from: shield132 on May 24, 2018, 09:42:17 PM

Quote from: Aveatrex on May 24, 2018, 09:26:17 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.

It's hypothetical.I didn't say that Bitcoin broke governments (not yet at least).I'm talking about the futur of Bitcoin and yeah no one likes to pay taxes but your country cannot guarantee it's survival if people don't pay taxes and alot of people use Bitcoin as a way to evade paying taxes.

Quote from: xhomerx10 on May 24, 2018, 09:45:12 PM

Quote from: Aveatrex on May 24, 2018, 09:41:16 PM

Quote from: eternalgloom on May 24, 2018, 09:33:46 PM

Well, taxes also don't automatically get removed from your bank account either...
It would be the same if Bitcoin became universally used. Governments would just accept payment in Bitcoin, but you would be responsible for making those payments and reporting your income etc.

Also, isn't it nice that they have this big ledger (blockchain) to see what kind of income you have received.

I agree with you but escape taxes is easier through Bitcoin since it's pseudo-anonymous while you can't escape that long with traditional system since the government can check your real income if somehow you didn't report it.

Quote from: xhomerx10 on May 24, 2018, 09:35:02 PM

Quote from: Aveatrex on May 24, 2018, 09:26:17 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

Wrong. If you pay with Bitcoin at a business, the business will collect the tax owing on your purchase (it will be part of the total price). If you get Bitcoin as income, generally the company you work for will remit the taxes to the gov't. If you don't pay your property tax, your property will be confiscated and sold for taxes owing. You don't have to worry about governments; they'll get their money out of you one way or another.

Yes,but you forget that when you buy something the government get money through VAT and not only from the company you've purchased from.
In addition to that,governments won't be able to tax direct payment between individuals.

I didn't forget the VAT, that's the tax I'm referring to in red above. It's not called VAT in every country. We call it sales tax in North America and it can be federal, provincial/state, county, city or some combination of those imposed.

Yeah but still,if Bitcoin becomes universal taxes would be harder to manage by governments.

EDIT:Guys don't judge me too hard,we're just discussing.

No worries, we are just discussing.
If you go to the shop and buy beer for example, there is 1 transaction,
You are paying for the goods including sales tax, value added tax or
whatever it is called in a perticular country.

If i sell you a camera, that is between 2 individuals face to face and
there is no way it is taxed now with FIAT so the same would apply
with bitcoin.

As an employee my employer deducts the relevant taxes before i get
what is left.

You have to look at employers and merchants, for example store owners
as tax collectors for the government, that applies to now with fiat and
potentially with bitcoin.