Re: Can Bitcoin really stabilize any country's economy level?
Don't think so. But a global currency that a country's bank cannot print, would be good. So governments wouldn't easily manipulate markets, they wouldn't have much power on inflation (I mean they need to find better solutions when they're constrained.)
Also tax is a thing. In crypto world, how would a government official collect taxes? You own your wallet and they cannot do anything about it. (however they can do things to your bank account) They may get taxes from your employer, but still, not every job has an employer. What if people work online and get paid in crypto? No taxes then. Don't know. There must be something we can't think of right now, and probably that option will happen
Also tax is a thing. In crypto world, how would a government official collect taxes? You own your wallet and they cannot do anything about it. (however they can do things to your bank account) They may get taxes from your employer, but still, not every job has an employer. What if people work online and get paid in crypto? No taxes then. Don't know. There must be something we can't think of right now, and probably that option will happen
A lot of people are not paying taxes these days. People getting paid in cash directly doesn't really submit an honest tax statement because there's no way the government knows how much you're making. Online store owners probably don't pay taxes because whenever you sold something to a friend, do you really add that to your statement? No. When you work online, it's quite hard for them to keep track of you since you are pretty much unemployed in their eyes. A lot of people choose to pay as little tax as possible because this allows them to be listed as an indigent person and they can get benefits from that. There are always pop up stores in the streets, not all of them are paying taxes.
The people who are regularly paying taxes are those that are employed. Even with crypto implemented, it will be the same thing since those records are going to be visible to the government while when you buy and sell something, that record isn't really visible to them. It's going to be the same thing.
tl;dr: People are not paying taxes even now. It's going to be just the same thing since there are transactions that aren't visible to the government's eyes.