Quote from: Emitdama on November 16, 2019, 09:01:32 AM

Quote from: Wysi on October 27, 2019, 11:03:11 AM

What if all those big corporates and businesses starts using crypto as a mode of payment just to avoid tax which will cause a direct loss to the government which uses tax for the betterment of the country. This might not affect corrupt countries as it doesn't matter because tax money goes to politician's coffers but what about developed nations?

Is that even possible ? If that's possible the government will ban cryptocurrencies for good and anyone caught using crypto assets will serve serious punishments, especially companies that are caught using it will face serious issues. So, I don't think any of them would like to try such a thing. But, I know for sure that if any company is making use of cryptocurrency they are still going to be paying tax while they are making use of it.

I don't think this is possible. First of all, All income generated must be submitted for tax computation and that means any profit generated by such business will have a tax ratio based on the total acquired profit even if it is fiat or crypto or even a property acquisition. Secondly, Government cannot total ban cryptocurrency, what they can do is to prohibit the use of it but it seems like that could've the worst solution to have if ever. Just like exchanges, they are proper businesses under legal papers with the government and they are paying their taxes where they are registered.

Quote from: BonfireBob on November 15, 2019, 01:29:31 PM

Both, some people gain millions from BTC and other Crypto investments, and some of people lost everything they had on the ICO bubble. So IMO it can make economy better and worse

I don't know if it does have any impact on our economy. Maybe when in a particular country and there are lots of investors holding crypto assets and making profits, if they withdraw it to their country bank it might in some way boost the economy. I don't know if this is right or not.

Quote from: BonfireBob on November 15, 2019, 01:29:31 PM

Our world is becoming more and more of technology based society, maybe sooner or later we'll start to use crypto more often. I can say it has impacted the economy since late 2017 as the growth rate of people using digital currency increased and banks are considering blockchain to integrate with their system and by these things cryptocurrency will surely play a vital role in the future.