Topic: Bitcoin can be useful for a troubled economy - page 22. (Read 33157 times)

I think so. Bitcoin can be useful for building a country's strong economy. Why bitcoin can be useful for the economy? I think there are people who work in this field of cryptocurrency and that certainly reduces the number of unemployed in a country. So of course bitcoin helps the economy.

That's true! Indeed, Bitcoin is not dependent on any bank, government, or centralized entity whatsoever. It's the people's money where anyone regardless of their age, political status, race, or gender, can participate in it without restrictions or limitations. Whereas real world currencies require ID verification most of the times (especially when dealing with them online), and are subject to inflation, cryptocurrencies like Bitcoin are all the contrary making them the ideal haven to protect your capital against undesired events in the real world.

Bitcoin resembles Gold in the way that its value is not determined by a central authority, but rather its scarcity in supply. With a deflationary model, a supply of no more than 21 million coins in existence, and unparalleled security, Bitcoin is an extremely useful currency for a troubled economy. In times where there's political conflict, war, or government disputes, people would turn out to decentralized cryptocurrencies like Bitcoin to help protect their capital. And even if countries decide to ban it, they'll never be successful in removing it from circulation as Bitcoin lives across the internet. Therefore, the whole internet would need to be shut down, for Bitcoin to cease to exist, making it the perfect alternative to real world currencies we're accustomed to.

Bitcoin does not depend on any government or bank. The value of bitcoin is not eroded by the inflationary policy or mass issuance of the rules by which bitcoin-related regulations are determined from the beginning and remain unchanged. Initially, bitcoin could attract curious people on blockchain technology, favors innovations. But later on, many people were involved in bitcoin because it helped them realize their dream: changing the monetary order, minimizing government intervention.

It all depends on what is causing the trouble in the first place, many economies collapse in the state of economic war or trade and actually wars with other nations, in that case, the adoption of a currency that is dependant upon a digital system may not be the smartest move to make.

In my opinion yes.bitcoin is the solution and useful.specially to the world country that is very rare of poverty to the corruption country.there's so many ways that can bitcoin be useful.

This myth of BTC being the savior of the needy needs to stop. The vast majority of people in troubled/impoverished countries simply and factually cannot afford to buy BTC.

In Venezuela people, in a very literal sense, cannot afford food, let alone a crypto which as we've seen in the last 3 months can be extremely volatile and lose value rapidly. In the case of Zimbabwe is even worse as they grapple with famine, tribal wars and other socio-economic issues. More fundamentally, though, pretending BTC is a reliable, dependable store-of-value instrument poor folks should invest on is morally and intellectually dishonest.

Absolutely true, bitcoin is really great and very useful for a troubled economy how much more in normal situation, unless there is government not allowed to people using this and strictly prohibited to use bitcoin. you know here is our chance to make our own profit without in the line of business, usually when it comes to doing business the people involve here is within a higher standard but for bitcoin even if you are not a professional we including to the line of bitcoin crypto currency world.

Bitcoin can be very useful in a trouble economy in so many ways.  Take for example, in an economy where there is high level of corruption if Bitcoin happen to be regulated by the government and has the control it usage then bitcoin can be use in check mating such activities or transactions in other to avoid or reduce corrupt practice.

Yes , Bitcoin can be useful for a troubled economy because the supply is very limited and again disadvantages are its transcation cost and time of execution if these are to be solved we can i believe it can be useful.

Yes, that is possible. Because in times of distressed economy, the purchasing power of people is quite less. Less money flows into the market. But with Bitcoin, the financial position of the people can improve after earning profits. With this extra income their purchasing power rises and they spend more money willingly which can benefit and improve the condition of the economy.

Yes it can be. Many developed countries like japan Germany work with Bitcoin to improve their country economy. Many developing countries with poor economy growth work with Bitcoin to develop their economy growth. Bitcoin improve those country economy by reducing the unemployment issue in their country. Bitcoin  transaction facility like bitpesa is also help to improve their country economy growth. Bitcoin is not only an country to improve their economy also help individuals person or family to improve their economy too. 

Bitcoin as of today, is not a good choice for a troubled economy. It is more likely a store of value, an asset for investment but not as a medium of exchange because it not efficient. The network is too slow. Alts in the other hand can fill the downsides of bitcoin's network, alts like ripple, dash and litecoin which has a fast network for transactions and more efficient compared to bitcoin today.

We know exactly what kind of money the governments are printing, there is a reason it is called fiat currency, in case you do not know fiat means decree or order, so a fiat currency is a currency by decree, in the past currencies were not created by decree but by a free market choice which is why gold and silver were chosen all over the world as a currency, so there is nothing backing a fiat currency since it has value just because the governments says so.

Goldman Sachs forget to mention that there is another using of crypto currency in developing countries and in countries with a troubled economy. Surely I mean a corruption and a shadow economics where crypto technologies are very attractive to use because it is possible to hide "dirty money". I do not have any statistics but I am pretty sure that criminals also may use crypto money, transactions for their purposes.

Strongly agree. And this can be proved in our country that some people are job less due to less of companies or industries to work with. But with the presence of bitcoin industry peoples make used of it to survive this troubled economy, by participating it effectively like joining some bounty campaigns just to earned rewards for a sake of survival living. In this way bitcoin helps troubled economy in our country.

I think the same as he said manipulation price if the price no improvement, it would be a big deal. and not all can use this is because some stay in rural without electricity and with the poor as well. Yes it can be useful and it can really help but can be implemented in the future if the problem of cryptocurrency been corrected.

This is true but governments that are in bad shape think bitcoin undermines their authority instead of being happy their citizens are able to somehow escape the consequence of their mistakes they get mad and ban bitcoin and even try to put in jail the people that are using bitcoin instead of their failed currency so we must remember that if you live in a country like that governments only care about themselves and do not care for their citizens at all.

Yes sir. Bitcoin can be useful when the real-world economy collapses. Since it's a digital currency that's scarce, secure, and decentralized, it's the perfect haven to protect your investments for quite a long time. Honestly, I see Bitcoin as a better option to secure your investments than Gold. This is simply because Bitcoin is portable, divisible, and can be transferred easily across borders (unlike Gold).

Therefore, in all means, Bitcoin can become an extremely useful cryptocurrency for a troubled economy in a world filled with many corrupt governments, and fraud. It's better than real hard cash, Gold, and any other asset you can think of IMO. Hopefully, Bitcoin can become recognized by more people across the world as time passes by.

The use of bitcoin and other cryptocurrencies can help save the troubled economy of a nation. Bitcoin plays a very important role in improving the economy. Many lives have been changed because they were involved with bitcoin and because they have been able to make profits that would not have been made if they were not dealing in bitcoin. If the number of the people dealing in bitcoin continues to rise,  it will get to a point where individuals will be able to sustain themselves without the help of the government and this will ultimately help to improve the economy.

Will there are many cause of trouble in an economy country to solve by bitcoin. Example the of the fastest to send money. And also bitcoin could be a good conductor of money by earn or mining. Bitcoin can also reduce the poverty that is one of big problem of a country.