Bitcoin can be useful for a troubled economy - page 16.

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Quote from: ValerieBTC on August 08, 2018, 07:22:52 AM

Quote from: michellebson2 on August 07, 2018, 03:54:55 AM

Countries in Africa will probably need bitcoin to help them improve their economies. There should be a common currency for these countries, bitcoin is very appropriate, but their government needs to cooperate with developed countries to change the economy.

And that is even possible to make happen by introducing Bitcoin in the continent. The ratio of people living below the poverty line is very high and this lead majority of them into crime and many illegal activities and many of them end up in jails or in worst health and mental condition so it is a dire moment for introducing Bitcoin into such low income people who might be able to use it for their welfare and to improve their living standards.

I think that is happening lately with crypto getting bigger. I mean tobacco companies pay politicians to help them out on health issues, whereas weed is even less harmful than cigarettes we see that everyone smokes cigarettes but weed is legal in only some places. We see internet companies getting paid in billions from tax money and fail to deliver their promises but they use that type of money into politicians. We see many companies lobbying.

Well, crypto is getting bigger and we may soon see that wall street people who bet on crypto and hope for it to go up will soon lobby politicians to keep it legal and tax it cheaply so they can make money off it. Bitcoin is a proven way of supporting for the countries that have failed with traditional economic practices. Hence, we may see many countries to adopt bitcoin in coming days due to this reasons.

ValerieBTC

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Quote from: michellebson2 on August 07, 2018, 03:54:55 AM

Countries in Africa will probably need bitcoin to help them improve their economies. There should be a common currency for these countries, bitcoin is very appropriate, but their government needs to cooperate with developed countries to change the economy.

And that is even possible to make happen by introducing Bitcoin in the continent. The ratio of people living below the poverty line is very high and this lead majority of them into crime and many illegal activities and many of them end up in jails or in worst health and mental condition so it is a dire moment for introducing Bitcoin into such low income people who might be able to use it for their welfare and to improve their living standards.

vessing

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To offer bitcoins (and crypto-currencies in general) as an alternative to the dollar for troubled economies is the same as offering to give bitcoin a role equal to the dollar in the world economy. The Federal Reserve will never allow this to happen, because this goes against the interests of the US more than anything else.

icreative998

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Quote from: Warwendal on January 11, 2018, 03:23:02 AM

Goldman Sachs: Bitcoin can be useful for a troubled economy

According to the report of Goldman Sachs, Bitcoin and other crypto-currencies can be a good alternative to the national currency for countries with an unstable economy.

Analysts at Goldman Sachs Zack Pandle and Charles Himmelberg said that digital currencies and, in particular, Bitcoin, can become a viable means of payment in countries where traditional money is not sufficiently provided.

Goldman Sachs experts: crypto-currencies can help the troubled economy

I think bitcoin may be the kind of money that makes many countries free of inflation, which puts the nation's economic markets in a stalemate, and that's worth testing in developing countries but it's a bit hard. To test because the poverty of those countries is a big deterrent so everything is in the guesswork

Golftech

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Quote from: onrise on August 07, 2018, 10:58:45 AM

Quote from: checkmatesir on August 07, 2018, 02:14:43 AM

Quote from: ?? on ??

with bitcoin we can find a fairly decent income and the results obtained from bitcoin can help someone who is mired in the economy. So he's just from the economic downturn and indeed very many people who are already in bitcoin are getting better in terms of economy

I think that bitcoin is individually giving profit to people, bitcoin is in fact giving good financial assistant to them. In fact there are people who are jobless in really life but bitcoin gave them financial support and now they are leading a standard life.

When people make money or institution for that matter, it will be benefiting the economy only as they will pay tax on that profit. Also when the income increases people spend more thus this indirectly helps the other people as their product gets sold.

Taxes helps the economy so each time people succeed from this investment it will surely shares taxes though not directly but in terms of buying things using the profits coming from Bitcoin, and after using g exchange as the business itself required paying taxes from the government that they've belonged.

olalaMaty

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I think that if the economy is hard, bitcoin is also a solution for them to have a knack for solving economic problems that make them think bitcoin is useful for socializing bitcoin more

onrise

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Quote from: checkmatesir on August 07, 2018, 02:14:43 AM

Quote from: ?? on ??

with bitcoin we can find a fairly decent income and the results obtained from bitcoin can help someone who is mired in the economy. So he's just from the economic downturn and indeed very many people who are already in bitcoin are getting better in terms of economy

I think that bitcoin is individually giving profit to people, bitcoin is in fact giving good financial assistant to them. In fact there are people who are jobless in really life but bitcoin gave them financial support and now they are leading a standard life.

When people make money or institution for that matter, it will be benefiting the economy only as they will pay tax on that profit. Also when the income increases people spend more thus this indirectly helps the other people as their product gets sold.

Priaa165

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This is normal because we know that not all countries view bitcoin as a good opportunity. Some see it as a threat to the banking business for their country.

macarong998

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There are still many countries with economies in difficulty, and it would be better if all those countries work together to put together Blockchain and bitcoin technology in place of traditional money.

suryana

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Trphy.io

Quote from: checkmatesir on August 07, 2018, 02:14:43 AM

Quote from: ?? on ??

with bitcoin we can find a fairly decent income and the results obtained from bitcoin can help someone who is mired in the economy. So he's just from the economic downturn and indeed very many people who are already in bitcoin are getting better in terms of economy

I think that bitcoin is individually giving profit to people, bitcoin is in fact giving good financial assistant to them. In fact there are people who are jobless in really life but bitcoin gave them financial support and now they are leading a standard life.

I also feel how Bitcoin can change my economic problems be better. I'm sure in the future Bitcoin will more and more people are using Bitcoin as their fixed income.

acsaocham22

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This is true because there are still many countries with very difficult economies, and the government does not provide enough people with the necessary benefits. Their money is losing value. Bitcoin brings them a lot of useful. Blockchain technology will make their monetary system more smooth and less time-consuming.

lamroinhau09

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I think countries with economies in difficulty will not have the best conditions to use bitcoin. They need to have the patronage of the great nations and all the people must fully accept the bitcoin as their currency.

michellebson2

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Countries in Africa will probably need bitcoin to help them improve their economies. There should be a common currency for these countries, bitcoin is very appropriate, but their government needs to cooperate with developed countries to change the economy.

uozer

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PRiVCY

The Article though breeds happiness to mind. My only reservation about the matter is that only individuals with Crypto deals in such troubled financial economy can enjoy this benefits much since Bitcoin is Decentralized. Probably in the nearer future when Bitcoin is massively adopted, then it can substantiate the economy's development .

Conthongon234

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Challenging economies, perhaps because these countries do not have economic freedom, will not be suitable for bitcoin development, unless they change, then Bitcoin will be the right choice.

Red Fish

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For unstable economy Bitcoin can not help, it is just transfer methode. For country with unstable economy only serious investments can help, not some thousands BTC users. Plus countries with unstable economy can also have some electricity problems, therefore computers can not work.

thithoikochoi123

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In countries with high inflation, unstable economies, and recession, Bitcoin will probably help their economies change positively, given the current value of Bitcoin perhaps this is the right choice.

moinguoi5c333

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I think the most appropriate country for legitimate Bitcoin is Venezuela, the South American country that is in dire need of a re-establishment of its economy. With the convenience and high value of Bitcoin and blockchain technology, this is the best option for Venezuela.

checkmatesir

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Quote from: ?? on ??

with bitcoin we can find a fairly decent income and the results obtained from bitcoin can help someone who is mired in the economy. So he's just from the economic downturn and indeed very many people who are already in bitcoin are getting better in terms of economy

I think that bitcoin is individually giving profit to people, bitcoin is in fact giving good financial assistant to them. In fact there are people who are jobless in really life but bitcoin gave them financial support and now they are leading a standard life.

Haliburton

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Liberated Forever. Domesticated Never.

Quote from: localcrypto on July 29, 2018, 07:01:06 PM

Bitcoin definitely useful for a troubled economy in the market it is an economy booster and employment booster in the market

I concur. Bitcoin brings many employment opportunities for people around the world. Since it's open, and anyone can use it, people can get paid easily without restrictions (unlike real world currencies). In times where government-issued currencies fail, there will always be the need for Bitcoin just as there is for Gold. Being a cryptocurrrency free from central control, is a huge plus in my opinion, since the people are the ones who decide its value and prosperity over time.

All in all, Bitcoin has enabled a new asset class which operates on its own, enabling people to gain control of their financial life once more. And this is very convenient for a troubled economy, as you'll have more spending power over time, since Bitcoin was designed to be a deflationary cryptocurrency after all. Wink

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