Bitcoin can be useful for a troubled economy - page 4.

Caladonian

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Quote from: bitzizzix on June 14, 2019, 10:58:18 PM

Quote from: zikzag on June 04, 2019, 01:59:09 AM

And what countries with the problem of the economy are you talking about. If for example these are African countries, then there is not everywhere an Internet to use cryptocurrencies.

Most of those who live in underdeveloped countries will experience limitations in everything, especially in technology, because being able to use cryptocurrency requires supporting devices and internet networks to operate them.
and internal networks are very functional in all aspects of knowledge that can help their economy and not only to access cryptocurrency.
so limitations greatly affect economic progress and are very fortunate for those who can use cryptocurrency.

Indeed, those underdeveloped countries will not see the potential of this cryptocurrency as they have limited knowledge about internet and needs to
learned deeper before they can appreciate the usage of this currency, lucky for those who able to use and facilitate this system as they have already
enjoying the benefits of an easy payment system beyond borders.

BennyK

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Of course, Bitcoin and the entire crypto space has the intrinsic capabilities to boost the economy of a country. This can be achieved through the benefits and advantages Bitcoin and cryptocurrency offers the people within a country were the activities of cryptocurrency are made legal. Cryptocurrency offers job opportunities like mining, project development, crypto merchants, exchange development, bounty hunting etc to the people. With this the economic status of the country can be raised to a certain degree.

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Quote from: zikzag on June 04, 2019, 01:59:09 AM

And what countries with the problem of the economy are you talking about. If for example these are African countries, then there is not everywhere an Internet to use cryptocurrencies.

Most of those who live in underdeveloped countries will experience limitations in everything, especially in technology, because being able to use cryptocurrency requires supporting devices and internet networks to operate them.
and internal networks are very functional in all aspects of knowledge that can help their economy and not only to access cryptocurrency.
so limitations greatly affect economic progress and are very fortunate for those who can use cryptocurrency.

toast

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Quote from: Victorycoin on June 14, 2019, 02:50:38 PM

Quote from: Warranteum on June 09, 2019, 08:20:09 AM

Good point. But It's hard for any country to switch to bitcoin completely.

It is not only hard but also quiet impossible to switch to bitcoin completely, bitcoin can be a part of investment and it cant be full investment by a country.

as you say, indeed turning our currency into a bitcoin currency is indeed more difficult. because the development of bitcoin cannot be fully guaranteed, and of course the risk is always there. so making bitcoin as a currency and being used by society is more difficult.

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Quote from: zikzag on June 04, 2019, 01:59:09 AM

And what countries with the problem of the economy are you talking about. If for example these are African countries, then there is not everywhere an Internet to use cryptocurrencies.

it is very appropriate that you convey crypto currencies created using technological developments so only developing countries can use crypto currencies and the problems that occur can certainly overcome the problems that will arise

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Quote from: Warranteum on June 09, 2019, 08:20:09 AM

Good point. But It's hard for any country to switch to bitcoin completely.

It is not only hard but also quiet impossible to switch to bitcoin completely, bitcoin can be a part of investment and it cant be full investment by a country.

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Quote from: Warranteum on June 09, 2019, 08:20:09 AM

Good point. But It's hard for any country to switch to bitcoin completely.

They don't need to completely, switch, but they can buy bitcoin to hedge the inflation rate.
With their money in bitcoin, that would be safer compared to their fiat money, and that will make bitcoin a store of value as people believe on it.

Bitcoin will not be the main currency, for now it's just an alternative, and remember it's not yet scalable, so that would be a big hindrance for now.

Warranteum

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Good point. But It's hard for any country to switch to bitcoin completely.

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Quote from: Victorycoin on June 09, 2019, 06:19:25 AM

Quote from: zikzag on June 04, 2019, 01:59:09 AM

And what countries with the problem of the economy are you talking about. If for example these are African countries, then there is not everywhere an Internet to use cryptocurrencies.

Bitcoin can be useful not only for the people who are poor but also for them who is wealthy so I do not think this is for any specific country, I mean it can be useful for any parts of the globe.

Bitcoin is really useful thing, but I do not think that it is able to put the country out the pit. Bitcoin can help the country to survive, but not to build strong economics.

Victorycoin

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Quote from: zikzag on June 04, 2019, 01:59:09 AM

And what countries with the problem of the economy are you talking about. If for example these are African countries, then there is not everywhere an Internet to use cryptocurrencies.

Bitcoin can be useful not only for the people who are poor but also for them who is wealthy so I do not think this is for any specific country, I mean it can be useful for any parts of the globe.

Adriano2010

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Bitcoin maybe can help for short term but they will need a plan to make economy working, because even if bitcoin will help, bitcoin has limited supply and a country economy not should count only on bitcoin to make economy works.

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I don’t think Bitcoin is a way out for countries with a problem economy. They need good business plans for the country, gross product, jobs. What will help them bitcoin octory cost can collapse?

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Quote from: hahay on June 05, 2019, 07:05:01 PM

Quote from: OrangeII on June 05, 2019, 01:17:33 PM

Quote from: zikzag on June 04, 2019, 01:59:09 AM

And what countries with the problem of the economy are you talking about. If for example these are African countries, then there is not everywhere an Internet to use cryptocurrencies.

I don't think at the moment we haven't talked about any country. however, we are only talking about the potential of bitcoin that can be used to fix economic problems in a country. if that happens to individuals, or organizations, then that can also happen to a country. only, until now there has never been a state that tried it. so far they have only supported the development of this technology.

But if that potential has been approved by many underdeveloped countries, then bitcoin will not quickly operate there because it's true that the availability of the internet is the main one for this development. But even so I'm sure it is a problem that is easily overcome and for the development of bitcoin will require a long process to make a good understanding for them.

I think using bitcoin for underdeveloped countries is because it is the last option, after their currency is of no value. indeed this does not contribute greatly to bitcoin, but on the contrary if bitcoin soars, they also enjoy the results

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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 it can help people to stock their assets during inflation. Due to the low currency rate. A person can convert his asset in cryptocurrency since crypto is worldwide and inflation in a certain country does not affect other states necessarily. Therefore, we can hide our money using bitcoin or other altcoins.

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Quote from: OrangeII on June 05, 2019, 01:17:33 PM

Quote from: zikzag on June 04, 2019, 01:59:09 AM

And what countries with the problem of the economy are you talking about. If for example these are African countries, then there is not everywhere an Internet to use cryptocurrencies.

I don't think at the moment we haven't talked about any country. however, we are only talking about the potential of bitcoin that can be used to fix economic problems in a country. if that happens to individuals, or organizations, then that can also happen to a country. only, until now there has never been a state that tried it. so far they have only supported the development of this technology.

But if that potential has been approved by many underdeveloped countries, then bitcoin will not quickly operate there because it's true that the availability of the internet is the main one for this development. But even so I'm sure it is a problem that is easily overcome and for the development of bitcoin will require a long process to make a good understanding for them.

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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 understand this article, but one remark: Bitcoin can help people in a troubled economy, it doesn’t help the troubled economy at all.

OrangeII

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Quote from: zikzag on June 04, 2019, 01:59:09 AM

And what countries with the problem of the economy are you talking about. If for example these are African countries, then there is not everywhere an Internet to use cryptocurrencies.

I don't think at the moment we haven't talked about any country. however, we are only talking about the potential of bitcoin that can be used to fix economic problems in a country. if that happens to individuals, or organizations, then that can also happen to a country. only, until now there has never been a state that tried it. so far they have only supported the development of this technology.

zikzag

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And what countries with the problem of the economy are you talking about. If for example these are African countries, then there is not everywhere an Internet to use cryptocurrencies.

syamster

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Quote from: otong on June 02, 2019, 11:26:10 AM

Quote from: BigTerror87 on January 11, 2018, 03:47:37 AM

Yeah, True indeed. Bitcoin and other altcoins is very useful to countries with troubled economy most especially on 3rd world countries where means and outlet of money is rare.

crypto and bitcoin currencies can be used by anyone and anytime the good results from the development of crypto currencies depend on intention and purpose in using the currency if managed properly of course the results are good and able to help too

Yes everyone is equally having the rights to use bitcoin, it has so many investors in the world from so many different countries, so if we are using bitcoin as long term investment we will be able to see it growing but if we are using it only to spend for our needs surely it will not grow bigger for us, it has so many benefits for our economy which even an ordinary people are taking advantage from it by contributing in bitcoin economical development,

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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

Totally, since in some nations have many problems of inflation and to escape with bitcoin is a lot of help because bitcoin represents a totally deflationary economy, then the difference is remarkable. In some cases like Venezuela, with winning bitcoin the difference is much compared to all other jobs that have a salary.

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