Bitcoin - Can it boost or break a countries economy? - page 9.

sakokinak

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Quote from: patimahsunda on June 03, 2018, 05:26:03 PM

Bitcoin will certainly increase the economy of a country. Because there are some people who become bitcoin as their job and can help the economy of each individual. So bitcoin certainly helps also in handling the economy of a country. That's just my opinion only and there are still many important aspects in this regard.

Naturally, with Bitcoin, the economy of the countries will be improved only. More people that earn good money and ready to spend it will appear. I am sure that it is not wise at all to ban the cryptocurrency.

BAILEYB

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I think the two situations could both happen. It can either make a country do so much progress while it could also create an effect to the economy of another country.

MrAntonius

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Quote from: Kakmakr on September 19, 2017, 03:48:43 AM

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.

My opinion on this topic is as follows. Bitcoin in a priori can not be controlled and it must be anonymous. Countries and governments do not know the tools and ways to regulate bitcoin wallets and transactions with them. It is for this reason that many countries do not take any action. And others who accept this circumstance, legalize the cryptocurrency. For example, Belarus, Switzerland, Netherlands, Japan etc. Many countries think to create his own cryptocurrency and equate it to bitcoin or local currency. It is difficult to say what this will lead to. But if at least one country equates a crypto coin with 1 gram of gold or a diamond carat, then perhaps the economy of such a country will necessarily go up.

BaraxLo

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Quote from: Menawi12 on June 04, 2018, 04:47:18 AM

Quote from: Kakmakr on September 19, 2017, 03:48:43 AM

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.

Many government and central banks ban bitcoin because they can not control bitcoin supply. As we know that central banks control the money supply and creating inflation. If bitcoin monetary system implemented, I am believe inflation on the country can reduced because central banks can not print money like they want and creating healthy growth

They can’t control the supply also they feel very insecure by having this currency in their accounts by this is something that really don’t have any existence and is volatile which means it can soon fade away like it was never existing and if that would happen with these institutes, I think they simply can’t bare the loss they will have to face. Inflation would be reduced but implementing it would take a lot of time

Rox123

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Definitely boost. The reason why bitcoin is hated by governments isn't because of effects on the economy, it's because of the control aspect. Many could dramatically increase their financial situations and it might even have a positive effect on unemployed which in turn could have a positive effect on crime rates.

squog

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I guess almost everyobe agrees that crypto currency helps the economy my by actually pumping in more money into the system by means of exchanges of goods and services. It actually allows consumers to buy more products in their country and abroad. With that it strengthens the economy and government itself get something fron the taxes from the goods.

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Quote from: patimahsunda on June 03, 2018, 05:26:03 PM

Bitcoin will certainly increase the economy of a country. Because there are some people who become bitcoin as their job and can help the economy of each individual. So bitcoin certainly helps also in handling the economy of a country. That's just my opinion only and there are still many important aspects in this regard.

Bitcoin is a boon for many jobless people by which they can earn to lead their life, if bitcoin is given official status then certainly bitcoin can boast the economy of the country, suppose if bitcoin is unofficial still people uses bitcoin means it can break the economy of the country.

Sadlife

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That depends if that country decides to put regulations into it. If they wont even tax it then that alternative currency might destroy their economy if the citizens decides to use it more than their own monetary currency. Fiat and virtual currency could coexist if it has proper regulations and balanced so it wont contradict each other, virtual currency could be an asset instead of a threat.

neliawesome

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I dont think bitcoin can boost countries economy because if it does help why theres a lot of countries banning it and even our country it doesnt totally banned bitcoin but it doesnt support bitcoin as well.Yes we as individual get a good benefits through bitcoin but as a whole in all over one nation I think its not good because there are lots of establishment that will step down and may affect economic growth.

Kakawate

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Bitcoin aure can help the economic state of a country, thus, if the government adopts cryptocurrency as part of their economy it could also bring chaos to its country. Having cryptocurrency is like a double edged sword that could help and hurt one countries economy, and the part that makes it harder is that, cryptocurrency cannot be controlled.

waynechong1995

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Not a extend of boosting, but could easily help those primarily focus on tourism, EU are calling crypto for not being a significant treat for economy, it could faciliate money laundering and such but harmful to a country's economy, you still buy bread with your fiat money though

Ajinomoto40

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Quote from: Kakmakr on September 19, 2017, 03:48:43 AM

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.

Bitcoin can boost economy of any countries and I believe that bitcoin won't break their economics but instead it will boost their economy because it will help peoples to earn their own profits even though they don't have job, and the bitcoin has so many benefits in society.

Krillin61

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Quote from: Kakmakr on September 19, 2017, 03:48:43 AM

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.

for me I believe that bitcoin can boost the economy of any countries now especially the poor countries, it will boost their economics because bitcoin will help to reduce the unemployment rate and the bitcoin has many benefit in our society.

Adek nadia

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I think that with the presence of bitcoin can be an economic boost in a country, bitcoin offers things that benefit society and this can make the poverty rate in a country will decrease but some countries still see bitcoin in one eye unnoticed bitcoin can bring change.

maloibtc

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I am sure that bitcoin won't break the economy but who knows I m not expert. It seems to be that it will boost it vice versa. However, time will show. with time we will see what happen to btc and how it will influence our lives, hope for the better

Naficopa

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Apart from legal issues, acceptance by governments or large market fluctuations, I think that cryptocurrencies may have a more positive impact on the economy than negative ones. People investing are able to improve their financial situation by spending more money on different goods. In addition, blockchain technology will soon improve the operation of many branches of the economy.

Menawi12

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Quote from: Kakmakr on September 19, 2017, 03:48:43 AM

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.

Many government and central banks ban bitcoin because they can not control bitcoin supply. As we know that central banks control the money supply and creating inflation. If bitcoin monetary system implemented, I am believe inflation on the country can reduced because central banks can not print money like they want and creating healthy growth

bitkanu

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Quote from: spongegar on June 04, 2018, 02:34:37 AM

It really depends on where the country focusntheir riches. If it is goods and services then crypto currencies can help tremendously in economics since crypto currencies create wealth andd such wealth could be injected whitin the country and actually rise up the government's influence over them

Nah, bitcoin is not a wealth injecting tools, instead, it's just like any other currency but transaferable without limitation, whether bitcoin could boost or break economy is heavily depends on the countries economical condition such as market capitalization, how strong the country local currency and many more. But the blockchain technology behind bitcoin could gives efficiency to many instituiton and country, and they are already started adapting this technology.

spongegar

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It really depends on where the country focusntheir riches. If it is goods and services then crypto currencies can help tremendously in economics since crypto currencies create wealth andd such wealth could be injected whitin the country and actually rise up the government's influence over them

Godexists

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I believe bitcoin can boost a economy of a country.why?simply because it bringing money to our country.because it applies the qualitative effects of variables that changes supply and demand,and increase the income of every individual.

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