Bitcoin Economic Advantage - page 4.

Oasisman

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Quote from: Wiwo on December 03, 2021, 01:18:49 PM

I reside in a country where the rate of inflation is high with a corrupted political system and tenures that have stolen the collective wealth of the nation and have crippled the economy, a high percentage of unemployed graduates who have in the last few years discovered blockchain and have gotten involved in Bitcoin activities such as trading and investments. Indeed Bitcoin has given us the economic power to overcome the crashing economy of many nations. 100% economic independent.

Lucky are those individuals who get involved and stayed with Bitcoin and really made a profit, because not everyone has become successful upon seeking a fortune in investing with crypto, especially those who had been targeting a short but huge profit gains (the greedy ones).
However, Bitcoin's economic independence is really an important matter to escape the inflations due to corruptions that has continuously happening and will still happen in the many years.

Vaculin

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Winding down.

Quote from: michellee on December 06, 2021, 09:34:21 PM

Quote from: Sterbens on December 05, 2021, 12:18:36 PM

You are right, at least access the internet and try to take advantage of internet resources that can be used to find various online jobs. Although it's not that easy, it takes hard work to find where to get financial resources from the internet. If you reflect with other people, the opposite phenomenon occurs, many of them have normal internet access, online job opportunities are available but cannot use them optimally. Whereas out there looking for something valuable to be developed is very difficult. Utilization of the internet, which is still a sector, is too broad, resulting in difficulties without guidance from people who have skills in the internet.

People now get help from the internet, wherein they can get so many opportunities to make money and if they can get the correct info, I am sure they will start to have a new resource to help them explore what they can do to earn more money. The world is evolving, and people should follow and use every chance to grow and have a better life. They can get guidance as long as they want to keep searching because, at one point, they will see that what they are looking for is actually helping them but they did not realize it. While some people now still work from home, it is better to use their free time to search for that opportunity because they can use the internet to get what they want.

We have a strong advantage these days compared to the old days since we have internet that serves as a helpful lead to us in the things we are opt to find answers. And even in this state of economic crisis, the internet is a good tool to connect us into our online jobs, just like to have access into bitcoin which is very helpful in times like this. For those who utilize their internet and come to understand bitcoin, it serves as an economic advantage, but for those who never have full understanding on bitcoin, its a threat to the government and fiat. But its undeniable these days that bitcoin can create positive changes in our individual's economics that will soon to improve a country's economy if given chances to be utilized properly.

michellee

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Quote from: Sterbens on December 05, 2021, 12:18:36 PM

You are right, at least access the internet and try to take advantage of internet resources that can be used to find various online jobs. Although it's not that easy, it takes hard work to find where to get financial resources from the internet. If you reflect with other people, the opposite phenomenon occurs, many of them have normal internet access, online job opportunities are available but cannot use them optimally. Whereas out there looking for something valuable to be developed is very difficult. Utilization of the internet, which is still a sector, is too broad, resulting in difficulties without guidance from people who have skills in the internet.

People now get help from the internet, wherein they can get so many opportunities to make money and if they can get the correct info, I am sure they will start to have a new resource to help them explore what they can do to earn more money. The world is evolving, and people should follow and use every chance to grow and have a better life. They can get guidance as long as they want to keep searching because, at one point, they will see that what they are looking for is actually helping them but they did not realize it. While some people now still work from home, it is better to use their free time to search for that opportunity because they can use the internet to get what they want.

wxa7115

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Quote from: Kakmakr on December 06, 2021, 02:56:24 AM

The key to prosper in a country like that, is to store your wealth in something other than local Banks or in your local Fiat currency. We have seen what happened in corrupt third world countries like Zimbabwe ..where Hyperinflation quickly destroyed their wealth. (The people there had to shift their wealth into more stable currencies like the US Dollar or the South African Rand (ZAR)

The problem with Crypto currencies like Bitcoin is the high volatility and long periods where there might be a recovery after a huge spike in the price. So, the money you invested in Bitcoin ..MUST be a long-term investment.... because you cannot be forced to sell during the recovery periods...or you will lose money. Roll Eyes

True, however things are changing, after all when the people of Zimbabwe used the dollar or other fiat currencies to protect their wealth at least the inflation was a lot lower than what it is now.

Right now it is bad idea to use any fiat currency to protect your wealth, you need to find something else, and while gold has been a popular choice for thousands of years many people do not have access to it, and as such bitcoin which can be accessed from a computer or a smartphone could be a better option for the people that are trying to protect their wealth from the invisible inflation tax.

Kakmakr

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The key to prosper in a country like that, is to store your wealth in something other than local Banks or in your local Fiat currency. We have seen what happened in corrupt third world countries like Zimbabwe ..where Hyperinflation quickly destroyed their wealth. (The people there had to shift their wealth into more stable currencies like the US Dollar or the South African Rand (ZAR)

The problem with Crypto currencies like Bitcoin is the high volatility and long periods where there might be a recovery after a huge spike in the price. So, the money you invested in Bitcoin ..MUST be a long-term investment.... because you cannot be forced to sell during the recovery periods...or you will lose money. Roll Eyes

TheNineClub

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Sure, but an Economic Advantage would be attained with control on inflation, less political corrumption and local seize of means of production to lower unemployment. Now, this is not me throwing a communist manifesto on anyone

I just want to say that crypto is a great tool, but not a solution to these problems. Not saying to start a revolution, but BTC and crypto, in general, seem like a bandage on a headshot wound of an economy that is being crippled. Although, I am happy that people are still able to have a better life through crypto than they were before.

BIT-BENDER

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Quote from: Wiwo on December 03, 2021, 01:18:49 PM

I reside in a country where the rate of inflation is high with a corrupted political system and tenures that have stolen the collective wealth of the nation and have crippled the economy, a high percentage of unemployed graduates who have in the last few years discovered blockchain and have gotten involved in Bitcoin activities such as trading and investments. Indeed Bitcoin has given us the economic power to overcome the crashing economy of many nations. 100% economic independent.

Big congratulations for you and those in your country that has found out about crypto-currency, but don't just see it only as an economical liberation from the choke holds of your government, but also see it at you new way of life, adopt it for all other reasons it gives, not only for trading and making profits, that way crypto-currency will last with us for a very long time, am also from a politically corrupt countries and even now the government is giving us crypto-currency enthusiast headaches, regardless I have chosen to adopt is for all it offers.

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Quote from: michellee on December 05, 2021, 03:09:15 AM

Quote from: davis196 on December 05, 2021, 02:03:36 AM

Quote from: Wiwo on December 03, 2021, 01:18:49 PM

I reside in a country where the rate of inflation is high with a corrupted political system and tenures that have stolen the collective wealth of the nation and have crippled the economy, a high percentage of unemployed graduates who have in the last few years discovered blockchain and have gotten involved in Bitcoin activities such as trading and investments. Indeed Bitcoin has given us the economic power to overcome the crashing economy of many nations. 100% economic independent.

Damn,unemployed people starting to invest and trade crypctocurrencies?
I wonder where they find money to invest in Bitcoin/crypto,since they are unemployed? Grin

Anyway,jokes aside.Bitcoin had really helped many people around the world.
People,who are living in countries with high inflation and unstable economic situation.
However,the volatile nature of Bitcoin/altcoins can also bring instability to the financial situation of many crypto investors,who are living in such countries.Imagine if all your money are put into crypto and the crypto prices crash.You would freak out and panic sell all your coins,losing lots of money.
That's why my number one advise about crypto trading is-Only invest money,that you can afford to lose.

As long as their country has an internet connection and people can use it without strict rules, they can search for free resources that can help them earn money. Many of them are starting from zero or even minus conditions but they are willing to hard work and lucky for those who met bitcoin/altcoins a long time ago because they can make money and start to have a better life.

Investing in crypto is not as easy as it says because they need to realize the volatility of crypto and prepare many things, including plans or strategies to minimize the risk. But yes, I agree that bitcoin helps many people earn money and invites more people to join to use bitcoin/altcoins to make more money.

You are right, at least access the internet and try to take advantage of internet resources that can be used to find various online jobs. Although it's not that easy, it takes hard work to find where to get financial resources from the internet. If you reflect with other people, the opposite phenomenon occurs, many of them have normal internet access, online job opportunities are available but cannot use them optimally. Whereas out there looking for something valuable to be developed is very difficult. Utilization of the internet, which is still a sector, is too broad, resulting in difficulties without guidance from people who have skills in the internet.

Cling18

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Quote from: Wiwo on December 03, 2021, 01:18:49 PM

I reside in a country where the rate of inflation is high with a corrupted political system and tenures that have stolen the collective wealth of the nation and have crippled the economy, a high percentage of unemployed graduates who have in the last few years discovered blockchain and have gotten involved in Bitcoin activities such as trading and investments. Indeed Bitcoin has given us the economic power to overcome the crashing economy of many nations. 100% economic independent.

I wonder if we're living in the same country or we're just experiencing the same thing. Lots of corrupt politicians have worsened the economic situation in our country and innocent people who are paying taxes are suffering but cryptocurrency has made a huge impact. It saved lots of unemployed people, especially during this pandemic. I hope that more people would consider crypto investing as a life changer and economic savior.

Wawa2013

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Quote from: davis196 on December 05, 2021, 02:03:36 AM

Quote from: Wiwo on December 03, 2021, 01:18:49 PM

I reside in a country where the rate of inflation is high with a corrupted political system and tenures that have stolen the collective wealth of the nation and have crippled the economy, a high percentage of unemployed graduates who have in the last few years discovered blockchain and have gotten involved in Bitcoin activities such as trading and investments. Indeed Bitcoin has given us the economic power to overcome the crashing economy of many nations. 100% economic independent.

Damn,unemployed people starting to invest and trade crypctocurrencies?
I wonder where they find money to invest in Bitcoin/crypto,since they are unemployed? Grin

Anyway,jokes aside.Bitcoin had really helped many people around the world.
People,who are living in countries with high inflation and unstable economic situation.
However,the volatile nature of Bitcoin/altcoins can also bring instability to the financial situation of many crypto investors,who are living in such countries.Imagine if all your money are put into crypto and the crypto prices crash.You would freak out and panic sell all your coins,losing lots of money.
That's why my number one advise about crypto trading is-Only invest money,that you can afford to lose.

Logically, it is impossible for unemployment to invest or trade crypto, because the unemployed do not have jobs. But that doesn't mean
the unemployed don't have money, because in some countries there are unemployed people who get financial assistance from the government.
Or usually unemployed also get financial assistance from family or places of worship, so the unemployed can use the money to buy Bitcoin.
Finally the unemployed use Bitcoin for trading and can make money. Therefore Bitcoin can indeed help many people around the world,
so the government should not prohibit its citizens from using Bitcoin. Especially in countries that have high inflation, the government of
the country should legalize cryptocurrencies.

michellee

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Quote from: davis196 on December 05, 2021, 02:03:36 AM

Quote from: Wiwo on December 03, 2021, 01:18:49 PM

I reside in a country where the rate of inflation is high with a corrupted political system and tenures that have stolen the collective wealth of the nation and have crippled the economy, a high percentage of unemployed graduates who have in the last few years discovered blockchain and have gotten involved in Bitcoin activities such as trading and investments. Indeed Bitcoin has given us the economic power to overcome the crashing economy of many nations. 100% economic independent.

Damn,unemployed people starting to invest and trade crypctocurrencies?
I wonder where they find money to invest in Bitcoin/crypto,since they are unemployed? Grin

Anyway,jokes aside.Bitcoin had really helped many people around the world.
People,who are living in countries with high inflation and unstable economic situation.
However,the volatile nature of Bitcoin/altcoins can also bring instability to the financial situation of many crypto investors,who are living in such countries.Imagine if all your money are put into crypto and the crypto prices crash.You would freak out and panic sell all your coins,losing lots of money.
That's why my number one advise about crypto trading is-Only invest money,that you can afford to lose.

As long as their country has an internet connection and people can use it without strict rules, they can search for free resources that can help them earn money. Many of them are starting from zero or even minus conditions but they are willing to hard work and lucky for those who met bitcoin/altcoins a long time ago because they can make money and start to have a better life.

Investing in crypto is not as easy as it says because they need to realize the volatility of crypto and prepare many things, including plans or strategies to minimize the risk. But yes, I agree that bitcoin helps many people earn money and invites more people to join to use bitcoin/altcoins to make more money.

davis196

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Quote from: Wiwo on December 03, 2021, 01:18:49 PM

I reside in a country where the rate of inflation is high with a corrupted political system and tenures that have stolen the collective wealth of the nation and have crippled the economy, a high percentage of unemployed graduates who have in the last few years discovered blockchain and have gotten involved in Bitcoin activities such as trading and investments. Indeed Bitcoin has given us the economic power to overcome the crashing economy of many nations. 100% economic independent.

Damn,unemployed people starting to invest and trade crypctocurrencies?
I wonder where they find money to invest in Bitcoin/crypto,since they are unemployed? Grin

Anyway,jokes aside.Bitcoin had really helped many people around the world.
People,who are living in countries with high inflation and unstable economic situation.
However,the volatile nature of Bitcoin/altcoins can also bring instability to the financial situation of many crypto investors,who are living in such countries.Imagine if all your money are put into crypto and the crypto prices crash.You would freak out and panic sell all your coins,losing lots of money.
That's why my number one advise about crypto trading is-Only invest money,that you can afford to lose.

josephdd1

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Bitcoin is widely adopted by countries with weak economics. Currencies of these countries are subject to inflation, so the government accept Bitcoin as their national currency as Bitcoin is limited and it will not face inflation. It is the main advantage of it over fiat that can be released all the time and lose their value because of it. People are willing to trust Bitcoin more as it is out of control of authorities.

fiulpro

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Quote from: Wiwo on December 03, 2021, 01:18:49 PM

I reside in a country where the rate of inflation is high with a corrupted political system and tenures that have stolen the collective wealth of the nation and have crippled the economy, a high percentage of unemployed graduates who have in the last few years discovered blockchain and have gotten involved in Bitcoin activities such as trading and investments. Indeed Bitcoin has given us the economic power to overcome the crashing economy of many nations. 100% economic independent.

Most of the times these corrupt national leaders do realize this and then they try and ban bitcoins and other cryptocurrencies so that people would be forced to use their economic structure.

At the same time sometimes they use CBDC's to give people an unfair option against bitcoins and other cryptocurrencies. These Nations do realize that bitcoins would take away their financial control so therefore they don't even let it grow that much.

-I do think that the only way bitcoins and cryptocurrencies can work in a favourable state for the people would be when :
-they get support from the government
-they get support from the people as well
-Banks are working with cryptocurrencies in a professional manner and not banning them every second day

There is something called financial freedom and privacy, unfortunately the second one people can't achieve that easily because KYC is always mandatory but at least the government authorities needs to provide support for new technologies which are here to stay.

Darker45

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The problem with Bitcoin trading and investment is that you don't have that regular income to support your day-to-day existence. So while it indeed empowers you economically, it might actually be helpful that you should also have another source of income aside from those.

Trading does not guarantee you profit every single day. Investment, on the other hand, will sometimes take time before bearing fruits. You might be required to wait for a while before the ROI comes in. So however crippled your economy is you've still got to find ways and means to squeeze something from it.

dezoel

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Hey OP, are we living in the same nation? Lol, these days there are over a hundred nation that could be said as corrupted with high inflation. Even USA has high inflation, they were always corrupted of course for over half a century, but the high inflation is new for them now. The "high" inflation in USA is actually quite low for my nation, if we ever had 3-10% inflation in a single year then I would assume that it was a great year for us, that is how bad it is for us.

Right now we have 50%+ inflation in a single year, which I can't even wrap my head around how that is even possible, but at the end of the day we are talking about something that already happened and we can't look back at worry about it, we should only consider what we can do about it. Bitcoin is my solution, and obviously yours and many people here but with days like these falls, I do feel worried about the future sometimes, then I get myself together and realize Bitcoin is a long term investment asset and these short term falls do not mean anything.

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Quote from: Wiwo on December 03, 2021, 01:18:49 PM

I reside in a country where the rate of inflation is high with a corrupted political system and tenures that have stolen the collective wealth of the nation and have crippled the economy, a high percentage of unemployed graduates who have in the last few years discovered blockchain and have gotten involved in Bitcoin activities such as trading and investments. Indeed Bitcoin has given us the economic power to overcome the crashing economy of many nations. 100% economic independent.

One the most clear use cases for bitcoin is exactly what you describe. Venezuela, Turkey, Iran,... every country that falls into a serious economic disarray has now a sword to wield against the government - a choice of using the local coin or go bitcoin. This is probably an unintended effect of creating bitcoin, or perhaps and intended one as "Satoshi" kind of figured out the derivatives of doing what he was doing.

Anyway, as I said in many posts, many people have to thank bitcoin for giving them a glimpse of hope amidst irresponsible goverments.

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Quote from: Wiwo on December 03, 2021, 01:18:49 PM

I reside in a country where the rate of inflation is high with a corrupted political system and tenures that have stolen the collective wealth of the nation and have crippled the economy, a high percentage of unemployed graduates who have in the last few years discovered blockchain and have gotten involved in Bitcoin activities such as trading and investments. Indeed Bitcoin has given us the economic power to overcome the crashing economy of many nations. 100% economic independent.

I understand that blockchain has given certain people bread and butter for their lives and some great opportunities to earn money but how in the world are you 100% economic independent? Even the stock markets give people the place to trade and invest but I still see no one making a fortune out of it except some very big lads. I feel all this economic independence of Bitcoin is only on paper, whales still control the market too much and can come to eat your capital any day. Don't focus on the monetary gains instead focus on innovation in blockchain world.

Silberman

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Quote from: Wiwo on December 03, 2021, 01:18:49 PM

I reside in a country where the rate of inflation is high with a corrupted political system and tenures that have stolen the collective wealth of the nation and have crippled the economy, a high percentage of unemployed graduates who have in the last few years discovered blockchain and have gotten involved in Bitcoin activities such as trading and investments. Indeed Bitcoin has given us the economic power to overcome the crashing economy of many nations. 100% economic independent.

I am glad that you are doing fine, however you must also understand that we are in a stage in the market cycle in which bitcoin makes everyone look as if they are financial geniuses as most people are obtaining profits right now, and while I think this is going to continue for some time since the economic conditions are going to favor bitcoin, at the same time we know that everything must end at some point, so prepare yourself for that moment and make sure you can still live your everyday life comfortably in the case that happens.

Fortify

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Quote from: Wiwo on December 03, 2021, 01:18:49 PM

I reside in a country where the rate of inflation is high with a corrupted political system and tenures that have stolen the collective wealth of the nation and have crippled the economy, a high percentage of unemployed graduates who have in the last few years discovered blockchain and have gotten involved in Bitcoin activities such as trading and investments. Indeed Bitcoin has given us the economic power to overcome the crashing economy of many nations. 100% economic independent.

It's great news that people have options in a country where the leadership are clearly running the economy into the ground. Just be careful though because even with the stability that Bitcoin affords you, the money you're putting into it will have transactions in and out. If the government is able to figure out that certain people have a vast sum of stored up funds, then they may try to target those amounts with all sorts of taxes or persecution. The thing would badly run governments is they are always looking for someone who can bail them out or someone they can blame problems on that the politicians have often built themselves, make sure you stay safe.

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