Post
Topic
Board Bitcoin Discussion
Re: Do you think Bitcoin can ruin a Country?
by
Irvinn
on 30/10/2018, 20:17:25 UTC
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?
Your statement that bitcoin has no tax is not true. Various states have already successfully introduced taxation on bitcoin and other cryptocurrency. An example of such a success is Japan, where cryptocurrency, even in the incomplete previous year, achieved GDP growth by 0.6 percent.
However, Bitcoin is under no circumstances able to destroy the state. If it is accepted as the main currency in any state, then due to its high volatility and lack of interaction with the state economy, it will only unbalance its economy and no more.