Topic: Bitcoin can be useful for a troubled economy - page 5. (Read 33157 times)

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

that means bitcoin is at least useful for those who use bitcoin, if their government is aware of it they will make bitcoin as a commodity that will benefit its people, as time goes by bitcoin will really be useful for the economy of a country that has problems with improving its people's finances

In some countries, the economy is such a poor condition that inflation does not even let people earn. They get kilograms of paper money as salary and this money costs nothing. Bitcoin and altcoins can help.

How can you say that?

A poor individual can't just buy or invest their money into Bitcoin. We all know how volatile it is and it is not always giving profit. You need to be patient and if you are unemployed, you need a stable profit. Does BTC give stable profit? No, that is the reason we should not tell them that it is this good since if this really happening, the price of it should be at 6 digits now.

Bitcoin can't solved any country with troubled economy because it is limited in quantity and in use but it can a financial problem of any individual by investing on it before its price go up. In Venezuela, the people uses bitcoin to fight inflation and poverty in their country but it won't improve their economy because their government did not approve the use of it as a legal tender.

I agree, by having clear intentions and providing clear space, crypto will develop in its portion and not overtake negative activities. rather than being banned then many bitcoiners violated the ban so that it became an illegal activity

in my opinion the results of the good and bad of the crypto currency investment depends on the intention and purpose of the investor itself because there are still many countries that perceive the crypto currency as negative and the results will be bad if the intention and purpose of the good investor will be good too

They should have experience not only for his economic crisis if they know only their economic crisis and do not gather crypto knowledge then they will not be able to improve themselves on the other hand they will fall on more crisis.

Yes, bitcoin is very helpful for those who experience economic problems and make their lives better than before.
and besides that bitcoin can provide income opportunities for those who do not have permanent jobs or unemployment, and bitcoin is useful for anyone who uses it.

Oh really? Bank of every countries take fixed deposit from their clients how much returns they may take? Every bank give fixed deposit to central bank how much returns they can get? Every central bank give fixed deposit to world bank how much return the may get and also every central bank keep US$ as reserve how much return they may get for that. Now compare all this with bitcointalk.

Good point, if being implemented correctly then it can help the economy to be lifted by this currency, things can be possible if the govern bodies will be open to any changes that's needed to be complied while using this system, if adopted in the right manner it will help the financial side, fate will dictates
if this adoption will happen to any institutions around the world.

I still don't really understand how Bitcoin solves a country's problems, but I think it really can. when a country has a not-so-good economy, and a lot of unemployment, bitcoin can be the solution. reduce unemployment by giving birth to many crypto businesses. well, I guess it's able to overcome the problem depending on how the government uses it.

Well this is very logical, because in countries where economies are not stable is always true that bitcoin can generate great benefits for those who use cryptocurrency, this works very well for countries with very high inflation because it will always be a deflationary economy and not inflationary, in fact it has been seen that the bitcoin thus goes down in price, in the local economies of countries that manage not so productive economies, it may be that the exits with bitcoin are always going to be viable, this occurs because the countries with currency local that suffer from inflation will have changes to the downside all the time, but bitcoin has a comparison with USD or Euro, which, represent very stable economies, and what more accelerates its value is that in any currency in the world can be . When comparing any economy of a country that does not handle or have currency controls, bitcoin escapes all these controls, that is, they can not control it, even with laws or taxes, because transactions are usually done where bitcoins are exchanged for local money or any currency, without going through the control of governments or banks, the only one that will be used as a secondary tool is banks, which is the ideal use that must be made, what they are made for, and not to control, however Care should be taken with the volumes of money that are going to be taken out of the bank because it can be the target of relevant investigations for making or having large amounts of money.

But in countries like Venezuela, the bitcoin will always be the exit, because it is a country that imposed exchange control by the nefarious governments of communists that have turned out to have total and economic disaster, this is due to the bad management of them, it is why here in this way is that the bitcoin economy has great momentum and will always be the best business

complicated economic structures for the government economy cannot regulate many matters relating to fiat-crypto, this will cause many obstacles related to the form of amendments that are not fully controlled

It can only be effective at least for individuals, not institutionally. In addition, if you are facing systemic problems, it will be more complicated to manage structured things.

I agree, at that point when all countries implement it, fluctuations can be reduced. so that it is possible for legitimate bitcoin as a currency, returning to the original purpose of creating bitcoin

In fact, the global economy is in trouble, and the need to find a valid solution for the continuing economic crises was one of the main motivations that led to the creation of bitcoin.

Therefore, we must promote the importance of bitcoin as a store of value for those who are aware of the falsehood and debt behind fiat money, and as a means of exchange for those who aspire to a better and more just society.

It is not possible for countries to apply btc in a short time. It needs many years and this will be the main reason for the increase. The increase in price will increase the market price. Therefore, the volatile price will be much calmer. Also, after the helm comes to the hands of the countries, the whales will not be able to move easily.

Definitely make some sense to change our economy it is enough for the Bitcoin to change something in this field so so if if the Bitcoin is ready to accept by the people and the government then it can do a lots of things for the people.

Indeed. bitcoin can be useful for the troubled economy that they can help to lessen unemployed people in a country because it can give an unemployed person a good source of income. I also agree with you that the project that you have mentioned which is Afrihealth is a great blockchain based health insurance service that every people could get an insurance with a less effort by just one click and downloading their own mobile app because they could easily purchase medicines, get a doctors online appointment, call an ambulance, and etc. This project aims to provide superior medical solutions to the African continent, ultimately building a more efficient medical care ecosystem.

Having decentralised economy or government that all transaction were visible can lead to a better politics and distribution of budget. It is decentralised that it can help poor economy to managed the resources. Effectively with throughout investors.