Bitcoin can be useful for a troubled economy - page 33.

Hirameki

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Quote from: BelieveInBTC on May 31, 2018, 03:08:41 PM

Quote from: layoutph on May 31, 2018, 01:10:33 PM

If theres only a one celebrity, or powerful man who could shill, and explain to close minded people the beauty of crypto and how it could help our nation. Then this would start a bullish market at no time.

It's impossible because banks and governments will do everything to stop cryptocurrencies from becoming more popular. I am surprised that countries which have economical problems haven't decided to switch completely to Bitcoin or create their own cryptocurrency. Smartphones and other devices are becoming more and more popular and could be used for storing crypto. It's time to ditch fiat.

Maybe the suggestion is good for the countries with centralized government but its hard to republic and democratic form of government because they should heard everyone involve before they make a decision. I believe banks have nothing to do with making laws about crypto but they can be the expert and suggest something against cryptocurrencies.

They should know that in other countries where cryprocurrency is legal their citizen are enjoying freelancing and online businesses that are hassle free to operate. This could be a good situation in an economy because it will give more people money and better quality of lives among themselves

btyco

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The benefit of bitcoin in those countries is that the governments cannot print excess amounts and destroy the local economy. Also, transfers are publicly viewable on the blockchain to improve transparency (less chance of taking bribe money).

maloibtc

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I don't know how exactly bitcoin can be useful for the troubled economy but the one thing I know for sure is that it is great for those who are looking for effective ways to earn money like me, i am sure that btc is our future currency

BelieveInBTC

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Quote from: layoutph on May 31, 2018, 01:10:33 PM

If theres only a one celebrity, or powerful man who could shill, and explain to close minded people the beauty of crypto and how it could help our nation. Then this would start a bullish market at no time.

It's impossible because banks and governments will do everything to stop cryptocurrencies from becoming more popular. I am surprised that countries which have economical problems haven't decided to switch completely to Bitcoin or create their own cryptocurrency. Smartphones and other devices are becoming more and more popular and could be used for storing crypto. It's time to ditch fiat.

Kamote_1102

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Activity: 392

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Yes, it can. Imagine if all the people have a chance to earn money. even the students and jobless are welcome to join Bitcoin. if this happened, the economy of that Country will start to grow. it will open a lot of doors of Opportunity. Opportunity to get rich and have a stable life. and sooner or later, and it will be taught to schools and every company will acknowledgement it.

xuv500

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This is a great information and truth about Bitcoin and crypto. But governments or nations which has unstable economy won't accept crypto that easy due to poor infrastructure for providing internet access to every Luke and corner of their country.

I think the government need to accept crypto to drive that as well as their passion towards driving technology to people and in the same time a good economy with crypto.

Renampun

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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

there is actually something wrong with what Bitcoin understanding is, Bitcoin is cryptocurrency and not digital currency, cryptocurrency and digital currency is a different thing.
Bitcoin is a way out for poor country nations out from their country's economic difficulties, poor countries should immediately utilize cryptocurrency...

izanagi narukami

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AFAIK, bitcoin can cause inflation because it's high value.

My government decide not to legalize bitcoin because of that reason. IMO they have the point because they want to protect people from bad things

layoutph

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If theres only a one celebrity, or powerful man who could shill, and explain to close minded people the beauty of crypto and how it could help our nation. Then this would start a bullish market at no time.

adpinbr

sr. member

Activity: 1078

Merit: 254

This is actually kinda true. I can be a witnessed or a representative for my country because we suffer extreme poverty and shortage and high unemployment rate and I think because of bitcoin if I look at it at my bitcoinmates many have bought there own car and build their own homes or businesses. Many have been successful and has overcome poverty and has been self-employed.

spyerf

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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.

Of course . in crypto they can get a job in return for bitcoin. the same meaning they have a job with money they can spend. This greatly helps their economies to survive.

nightxglow

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Activity: 700

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Well that may be true. I think digital currency like bitcoin will help much in troubled economy country that doesn't have enough flat money. They may be able to use bitcoin or cryptocurrency instead, because why not? A great chance to develop the country, technology and economy.
Bitcoin surely help many unemployment to earn money, which can contribute to a country's economic condition as well.
So i could say that bitcoin surely help some countries' economy in many ways and condition, but the government just don't see it and think that bitcoin is a trouble and threat. Sad truth.

maemunah

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very true and thanks to bitcoin people in this world who are still experiencing problems about the economy it can be helped and better also because with the help of bitcoin. and I was also originally my economy is very bad and with the existence of bitcoin my economy can be better and better too

tanghere02

sr. member

Activity: 518

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True and I quite agree with what the analyst at Goldman Sachs Zack Pandle and Charles Himmelberg said. It could really be a great help to those countries where money is not provided enough. For as long bitcoin will be put into good use, the economy of a certain country can actually become better.

Yurkov

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Pepemo.vip

Quote from: ArteMixer on May 30, 2018, 06:08:36 AM

Yes, these countries can take is as their national currency, or link the currency to bitcoin, to strengthen it. That might be a good idea.

What is more they could just make some taxes which will give some money to country budget, thanks to that it will become more popular and income from it would be only bigger.

Elkafi

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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

It is true, Bitcoin can be useful for a trouble economy. The jobles can join bounty campaign, they will get alot income from it.

1Referee

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Quote from: Yatsan on May 31, 2018, 08:39:15 AM

Well the economy starts with the people inside. If those people are capable of sustaining their needs then they can contribute much into the economic status of their country, family or etc. Bitcoin can open a job offers from the government if they accept bitcoin. This will lead into lesser unemployment rate of a country that makes it good for the country to increase its economic status as well. If bitcoin continues in the future then we might as well have a future that is filled with crypto and is a world without hardships in where to gain profit.

Governments and a free and prosperous long term economy don't go well together, we have had decades of proof to figure that out. Bitcoin will only form a help to people if they use it as a tool to hedge everything the regular economy stands for. The regular economy is set up in a way that will always benefit the elite over the hard working person, which is why the gap between rich and poor has grown to how it is in today's world.

Governments have had plenty enough chances to prove themselves, but failed every time. Now it's time to stand up for youself and take distance from that what's holding you back in life. It's pointless to keep wasting time and hope for Bitcoin to help the governments do the right thing, because they won't. Don't forget that as with everything in life, it can be used and abused, and governments always stick to the latter.

Yatsan

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Quote from: fcf1081 on May 29, 2018, 06:17:26 AM

if this is true..then its good news for those whose economy is struggling to survive and in the midst of crisis, just hoping that by adapting or embracing this kind of system or technology they maybe able to help those people to assist in them to find ways to surpass those crisis or perhaps create their own coin which way is possible.

Well the economy starts with the people inside. If those people are capable of sustaining their needs then they can contribute much into the economic status of their country, family or etc. Bitcoin can open a job offers from the government if they accept bitcoin. This will lead into lesser unemployment rate of a country that makes it good for the country to increase its economic status as well. If bitcoin continues in the future then we might as well have a future that is filled with crypto and is a world without hardships in where to gain profit.

Zhagedu

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Activity: 118

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Definitely yes with some cogent reasons, We hard a cold war in our country sometime ago when we were unable to cater for our families to talk of ourselves, but with the help of Bitcoin for those of us who were into cyrptocurrencies were able to make transactions to our dear ones and also have some for ourselves. I must say kudos to the developer...

slapper

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Quote from: qumatru on May 30, 2018, 07:34:31 PM

Quote from: bintangkejoraku on May 28, 2018, 06:23:24 PM

I really agree with that, I already feel the benefits of bitcoin in my family's economy. I can help a little improve my family's economy.

Bitcoin is that’s why loved by everyone because it has helped numerous people regarding their financial problems and provided them with the solutions they had never imagined. Many jobless talented people have started their businesses with what they had earned from bitcoin after holing it for a long time and selling it off when the market is hitting the sky. I am pretty much sure that it would be used worldwide soon.

You're right, I have seen a lot of people from my country who were unemployed at first and got close to the breadline have changed their whole life completely thanks to bitcoin. It also helps me in many ways and the best thing is that I can now save a considerable amount of money for my family and to fulfill my hobbies. I hope bitcoin can be more accepted in my society and help the poor.

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