Topic: Bitcoin - Can it boost or break a countries economy? - page 17. (Read 5026 times)
First of all it would not break nor boost an economy because it is not yet introduced as currency in any country. Assuming most of the countries do accept bitcoin it would have its own risk. Today, most countries do not have the financial capability to accept bitcoin. But possible, bitcoin would be our next generation currency.
If bitcoin will walk in the state along with the national money of this country, then he is able to benefit the state and people. This we can see in the example of Japan, where the introduction of the crypto currency, along with their national money over the past year, brought profit to the economy of the country, that is, an increase in gross domestic income, by 0.3 percent. This is still a small figure, since bitcoin is recognized there as a legal tender only since April of last year, however, I think that in the future it will grow.
If you try to use bitcoin as the main means of payment for the country, I think that the result for the economy will be negative. Bitcoin, with its high volatility, is able to quickly unbalance the economy of any strong state. We do not yet have experience in this matter, but I think that planning the country's economy in bitcoin and monitoring the implementation of the country's budget in this case will be impossible.
If you try to use bitcoin as the main means of payment for the country, I think that the result for the economy will be negative. Bitcoin, with its high volatility, is able to quickly unbalance the economy of any strong state. We do not yet have experience in this matter, but I think that planning the country's economy in bitcoin and monitoring the implementation of the country's budget in this case will be impossible.
I think that bitcoin is already boosting the economies of so many countries around the world, and especially the poor and third world countries, because it is helping so many citizens from such countries to earn their living, improve their financial stats, and also helping the unemployed and poor people to get a full time job online.
Indeed, but every government needs a relevant and young people in it, to consider, examine and understand a potential of crypto without this stupid all-rejection.
Most countries are in full control of their own monetary policies and financial systems. If a alternative currency is introduced, would this improve or reduce the efficiency of a country?
Will this remove their control or would it be just another payment option, like PayPal?
Why are governments so scared of Bitcoin, if they can regulate it's use. The first defensive tool seem to be banning the technology, which in my opinion should be the last resort. Should they not analyse the threat based on proper research and public participation. < like they did in Canada > and then make harsh decisions like this?
Why are they ignoring the advantages that this technology might bring and implement extreme precautions as a primary action?
Is Bitcoin really such a big threat to them or are they just misinformed on purpose? < influenced externally by people with hidden agendas >
Let's discuss this please.
Will this remove their control or would it be just another payment option, like PayPal?
Why are governments so scared of Bitcoin, if they can regulate it's use. The first defensive tool seem to be banning the technology, which in my opinion should be the last resort. Should they not analyse the threat based on proper research and public participation. < like they did in Canada > and then make harsh decisions like this?
Why are they ignoring the advantages that this technology might bring and implement extreme precautions as a primary action?
Is Bitcoin really such a big threat to them or are they just misinformed on purpose? < influenced externally by people with hidden agendas >
Let's discuss this please.
Other countries choose to have a digital currency it is because they have seen a light up bringing but productive community. Just like for example the China they introduce a cashless country also Japan that is great, rigth?
However it is still in the process in other country but we can determine that they can do it by chance because they study it very well. Bitcoin will surely boost the economy because it develops a lot of advantages for good of all.
As you have correctly informed, most countries are in full control of their own monetary policies and financial systems and the decentraliced bitcoin system can't take on the law and enforcement authorities and they determine the economy of a country.
It all depends on the financial policies of that country. I think it is not possible for Bitcoin to do any such thing at present. The reason being none of the country has announced Bitcoin to be legal in their country. So till the time this Bitcoin and other crypto currencies will not be legalized, I think we can’t expect any such thing to happen.
I think bitcoin can help boost the countries economy because of its ability to help many people in becomming financially independent. Bitcoin offers many opportunities and it does not require so much for a person to earn it as long as you understand how bitcoin works even if your uneducated or even if your young or old.
bitcoin can not boost or break a countries economy for now because bitcoin itself is not yet accepting as a payment method or currency but once bitcoin is accepting, I think bitcoin can boost the countries economic. but from now on, every people in all country can use bitcoin and make their own money while they waiting for their government approve bitcoin to be the next currency beside fiat.
It is too early to think about Bitcoin will Boost or destroy country economy. Bitcoin is not accepted by government we have to consider this seriously. Once Bitcoin accepted by all countries then for sure any country's economy will be controlled By Bitcoin and for sour countries economy will be boosted.
As you have correctly informed, most countries are in full control of their own monetary policies and financial systems and the decentraliced bitcoin system can't take on the law and enforcement authorities and they determine the economy of a country.
the governance system is already managing all matters concerning how their economies will develop so to incorporate bitcoin into the system will probably have a bad effect they may think
In my opinion, bitcoin can improve a country's economy for those who already understand and used to use it, especially now that bitcoin prices are high enough. I'm sure, bitcoin can improve a country's economy.
I thinks bitcoin can boost economy because it offers a lot of advantages to people, we all know that bitcoin nowadays are very helpful in terms of many aspects like financial problems and other expenses.
Bitcoin can boost economy of one country.
Bitcoin can boost economy of one country.
I think if Venezuela introduced Bitcoin as their new currency and invest a lot into it then in 20 years they would be a very, very rich nation!
Bitcoin can not affect the economy of the country in any way, since it is just a currency to be earned. And now it is too high and it's becoming harder to make money.
Whether it's hard to earn or not. It's an innovation in the financial structure and the same is making functionalities more effective and without flaws. Security alone seems to be an issue because of hackers. Secondly it's making an inflow of economy within the country. This causes growth in economy rather than downfall.Bitcoin can not affect the economy of the country in any way, since it is just a currency to be earned. And now it is too high and it's becoming harder to make money.
Whether it's hard to earn or not. It's an innovation in the financial structure and the same is making functionalities more effective and without flaws. Security alone seems to be an issue because of hackers. Secondly it's making an inflow of economy within the country. This causes growth in economy rather than downfall. 
Bitcoin can not affect the economy of the country in any way, since it is just a currency to be earned. And now it is too high and it's becoming harder to make money.
Bitcoin can boost a countries economy because it will help the people to earn money and the people will use those money to spend on the things that they want and those profit of the shop or the store that the people used to buy things with. Then it will boost the shop or the store's income and the tax of that store will go up too and it will help the country to have a better income which will help itself to improve its system and economy.
You explained it with such good description that I don’t need to explain it any further. Still you are very right in this chain for making country’s economy boost. Bitcoin will never break the country economy rather it acts like a catalyst that fasten the speed of economical race in country.If a country's citizens start their business on blokchain and become an important market maker or service provider, this would boost its economy. Otherwise, a country may get damaged by bitcoin as well.
When their people started using btc and didn't adapt anymore their own like business or using it for paying on their physical stores or within their boundary can really affect them especially if they will be in number.
Most countries are in full control of their own monetary policies and financial systems. If a alternative currency is introduced, would this improve or reduce the efficiency of a country?
Will this remove their control or would it be just another payment option, like PayPal?
Why are governments so scared of Bitcoin, if they can regulate it's use. The first defensive tool seem to be banning the technology, which in my opinion should be the last resort. Should they not analyse the threat based on proper research and public participation. < like they did in Canada > and then make harsh decisions like this?
Why are they ignoring the advantages that this technology might bring and implement extreme precautions as a primary action?
Is Bitcoin really such a big threat to them or are they just misinformed on purpose? < influenced externally by people with hidden agendas >
Let's discuss this please.
Will this remove their control or would it be just another payment option, like PayPal?
Why are governments so scared of Bitcoin, if they can regulate it's use. The first defensive tool seem to be banning the technology, which in my opinion should be the last resort. Should they not analyse the threat based on proper research and public participation. < like they did in Canada > and then make harsh decisions like this?
Why are they ignoring the advantages that this technology might bring and implement extreme precautions as a primary action?
Is Bitcoin really such a big threat to them or are they just misinformed on purpose? < influenced externally by people with hidden agendas >
Let's discuss this please.
I believe the problem is with the fear of decentralization. We are aware that a small few control the large majority of fiat money available. If BTC would be widely used there would be several new players coming to game and could or would mess with the established finantial system. The other major point is pure ignorance. People just don´t understand the grasp of the tech and the few that even heard of BTC would reply : "money laundry? drugs?blackmarkets?"
Bitcoin can boost a countries economy because it will help the people to earn money and the people will use those money to spend on the things that they want and those profit of the shop or the store that the people used to buy things with. Then it will boost the shop or the store's income and the tax of that store will go up too and it will help the country to have a better income which will help itself to improve its system and economy.
You explained it with such good description that I don’t need to explain it any further. Still you are very right in this chain for making country’s economy boost. Bitcoin will never break the country economy rather it acts like a catalyst that fasten the speed of economical race in country.If a country's citizens start their business on blokchain and become an important market maker or service provider, this would boost its economy. Otherwise, a country may get damaged by bitcoin as well.
If some country will create good conditions and lower taxes (or even remove them) for using bitcoin and starting blockchain startups then it may get some boost. Personaly I expect Singapore to do something like this, they know how to attract investors and might use their knowledge in crypto.
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