Bitcoin can be useful for a troubled economy - page 19.

slyfox

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Quote from: bitzizzix on July 20, 2018, 04:14:16 AM

I agree, bitcoin can overcome or be useful in overcoming a troubled economy. because it can provide income for those who do not have a job or those who have a regular job as additional income.
hence they will not have difficulty in economic terms, especially basic needs or daily needs. and very beneficial for those who have low and medium economy and bitcoin is very helpful to them.

We are seeing bitcoin helping people in countries with problems with their economies already this happened in Argentina some time ago and now it is happening in Venezuela, and when an economic crisis strikes again the world, we are going to be ready and we are going to have a currency which is at least decade old and that will grow in usage thanks to those failed economies.

ReiMomo

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That's correct. Bitcoin will be useful for a troubled economy and there is no doubt in that. The countries which have accepted Bitcoin and crypto currencies is prospering well in their economic, the economic growth has doubled for some countries to be specific. Other countries are also thinking and planning to accept Bitcoin for their economy to grow but just stuck with rules and regulations to put in place before doing that it seems.

Indra32

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Quote from: cryptobluemoon on June 12, 2018, 10:12:15 AM

Bitcoin is an economy booster for any country we can see many country fate can be changed once they approve bitcoin as legal currency but most of the country governments are nt in a position to take this step

I think if the government supports bitcoin then it will definitely increase the price and bitcoin can help more people
I think that bitcoin can help people get out of poverty and provide a better financial future, many people including me already feel the effects of bitcoin, bitcoin can provide new income and job opportunities that can help people to get a better life

dublados

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Truly, in beset economy of a situation or nation, how to survive turns into the battle of the general population and if bitcoin is accessible they are clear to survive, even in my nation we have been doing combating with economy subsidence however we have dependably possessed the capacity to survive the obstacles with this incredible opportunity.

crisnel26

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Quote from: Inasal03 on July 23, 2018, 10:53:53 AM

Yes it can use bitcoin for a troubled economy. If the government accept the bitcoin it will help the economy for the country also for bitcoin it gave more money and it will increase the price.

It is a good opinion, however Bitcoin, or cryptocurrencies in general, are volatile and changes their value every time. Relying on digital currencies will be risky for an economy. I could only suggest that it could only be used and only co-exist with the fiat money.

Inasal03

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Yes it can use bitcoin for a troubled economy. If the government accept the bitcoin it will help the economy for the country also for bitcoin it gave more money and it will increase the price.

ganlianshifu1

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The people of Venezuela use BTC to inflate the country!
People are forced to use bitcoin to provide their families with basic necessities such as food, medicine and clothing.

stellgod

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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

Lol that’s a very big lie. Bitcoin can’t help you unless you work for it. Bitcoin only helps those that works hard and not those that don’t work for it and be sitting down waiting money to come from no where lol. Some of these usually try to make Bitcoin seem easy especially to newbies, it’s not good. I do see some people saying that BTC is free money like we don’t work for it. Funny, this is why newbies will get in and be acting lazy and careless until they end up as losers.

gowobonyok

jr. member

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quite good, because when the exchange rate of a country's currency against another currency down, or too low, can use bitcoin as a valid means of payment. because the bitcoin price is definitely with one exchange rate strength.

Nunoluck

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Yes, bitcoin profide side income for some people. Bitcoin price is not directly influenced by world economy so people who hold bitcoin is lucky when world economy getting worst. Fiat system is not fair anymore thats why there are many trouble on our economy.

trangoccho

newbie

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Bitcoin has really been the best choice for the citizen and it has been of great help to a lot of them. Goldman is right! Its nice to see something like an objective analysis. It contrasts with "bitcoin is a bubble" predictions doomsday. The goldfish can be invested in bitcoin and crypto and so they are taking a passive positive approach in trying to say good things about bitcoin.

BlackMoon25

newbie

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Quote from: Rooster101 on July 20, 2018, 10:12:54 PM

If the people that lives in a country with troubled economy have complete access to the internet then cryptocurrencies will be a big help to them provided that they know how to used it properly. Cryptourrencies are volatile and there is a possibility that they might lose their bitcoin before they can use it fully. The government in that troubled economy might also restrict its people from using any cryptocurrencies or put the exchanges in a strict regulation.

There are two big problems with a troubled economy:

- The government is too stupid so they ruin the economy: in this case, even they use crypto as a solution to rescue the economy, they will use it in the wrong way (like Venezuela)

- The people are too lazy to work: in this case, they won't try to learn how to use something hard to understand like crypto or how to protect their crypto wallet.

Crypto can't solve a troubled economy! At least until now!

dharnamonitor

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In my country, we are currently experiencing the highest inflation within seven years. Since the bitcoin is decentralized we can used it to lift up our daily finances and prevent from being extremely affected by the increasing prices of products, services and other expenses. But there are still a lot of risk since it has a high volatility.

Rooster101

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If the people that lives in a country with troubled economy have complete access to the internet then cryptocurrencies will be a big help to them provided that they know how to used it properly. Cryptourrencies are volatile and there is a possibility that they might lose their bitcoin before they can use it fully. The government in that troubled economy might also restrict its people from using any cryptocurrencies or put the exchanges in a strict regulation.

Eigig

newbie

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It is true ,bitcoin can be useful for troubled economy because ,one of the problem is unemployment and can contribute to the economy, and bitcoin can also help unemployed people ,by joining the ICO bounty campaign and you can earm tokens and that you can use them for your needs , so it is really of help for the unemployed and the the economy of the country.

dlhezter

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Quote from: yugyug on July 20, 2018, 07:43:35 PM

As i see bitcoin popularity was concentrated on a stabilized economy like Rich European countries and rich Asian countries like Japan, South Korea and China and still bitcoin was not yet fully adopted to other developing third world countries like Africa and other parts of Southern America region and Latin- America countries bitcoin price was high and may not even useful for the latter for the transaction fee alone was still high.

Yes, Bitcoin has a lot to offer in the economy, it has he potential to give an economical growth in the system of the government as well as the country itself., It will be having the solutions for this matter, including technological growth.

yugyug

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As i see bitcoin popularity was concentrated on a stabilized economy like Rich European countries and rich Asian countries like Japan, South Korea and China and still bitcoin was not yet fully adopted to other developing third world countries like Africa and other parts of Southern America region and Latin- America countries bitcoin price was high and may not even useful for the latter for the transaction fee alone was still high.

dillema018

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Quote from: giarised on July 20, 2018, 03:02:47 AM

Quote from: lolehiM92 on July 10, 2018, 03:38:32 AM

If some country's economy is in difficulty it is possible for bitcoin to enter and it will lessen the difficulty as well as they will contribute to the development of that economy just like what bitcoin was. do 2008

Well that isn’t something worth to say. Here, we are talking about development of the country with respect to its economy. And bitcoin is although of much great importance in playing such part. But as far as current scenario is concerned, bitcoin isn’t sufficient to become integral factor of increasing the values of economics for a country. This will happen but after few years not now.

The coin itself has a lot to offer, because of it potential to become the next permanent currency of every country, Bitcoin has a lot to offer when it comes in improving the economical growth of the countries and the technology of it.

Xising

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Quote from: TIDOVEE on January 11, 2018, 03:37:39 AM

YES, in troubled economy of an environment or country, how to survive becomes the struggle of the people and if bitcoin is available they are definite to survive, even in my country we have been battling with economy recession but we have always been able to survive the hurdles with this great opportunity.

Cryptocurrency, and Bitcoin to be specific, has long shown that it has the capacity to help troubled economies be in a better state. There are so many African countries recently that has been exploring in terms of venturing in the cryptocurrency market, and it has really impacted their economy a lot. Same thing with those early adapter like some people in the USA and Asian countries like Japan, which has been really open in accepting and trying out the good possibilities the cryptocurrency market could bring.

dillema018

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Quote from: TIDOVEE on January 11, 2018, 03:37:39 AM

YES, in troubled economy of an environment or country, how to survive becomes the struggle of the people and if bitcoin is available they are definite to survive, even in my country we have been battling with economy recession but we have always been able to survive the hurdles with this great opportunity.

Bitcoin has a lot to offer when it comes to treating the economy of a certain country, it is common for the crypto enthusiast to think it that way because of the blockchain technology that will support the economy of a certain country.

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