Topic: Bitcoin Economic Advantage (Read 549 times)

Yes, you have just hit the nail on the head, Bitcoin in El Salvador has been the life saver of the country, in fact President Bukele has been buying more BTC in the dip that occurs in the price, if investors of this style enter it is hardly likely to see At the lowest price BTC, this brings a lot of progress, it is the first country that is teaching everyone in the matter of BTC globally.

Neither the European countries nor the USA are at the level of El Salvador, because this country did not take into account what the news say, much less what the traditional BTC economists say, this is a lesson for the world.

To be fair bitcoin was never supposed to do any of that, bitcoin is money and as money bitcoin is fantastic but it was never intended to fix any kind of big political issue, as such it is up to each person to take the best decisions they can which harbor them the greatest benefit, this is why we see so many people that despite being invested in this market lose their money while only a minority does so, despite the fact that the overall trend of this market is up.

Yes, it does help a lot of people but it is not everyone if we are going to say the truth. There are those people who it favors and there are also those that it doesn’t favor at all. And also bitcoin is not like the solution to the problem with our economy. Do you think that if the government of your country continues to be with their behavior of stealing from the society that they are leading, do you think that the country would get any better? The truth is a NO. And bitcoin is not going to fix the problem of your leaders laundering the country’s pulse and not carrying out their duties as leaders. It’s still up to the citizens to do what is right, by voting out the bad leaders and also standing up for themselves by defending what is right.

What el salvador did is a step to advance their economy and release the country dependence on the american dollar, in today modern era of course a digital-based economy is one of the must that we must follow and I think bitcoin is an absolute example of progress In that era, besides that, the fluctuating nature of bitcoin is certainly very promising for big profits that we can only get from the investments we make.

That's because people don't have the mindset of a millionaire. If they did, they would understand the concept of "earning money without doing anything". It's much easier to build a passive income system that will work for you over time using Bitcoin and other cryptocurrencies than stocks themselves. The best part is that the unbanked can gain access to Bitcoin without the need for ID verification or credit checks of any kind (only if decentralized exchanges are used). Those who "hodl" cryptocurrencies have a greater economic advantage than those who not. Fiat's inflation rate keeps rising at a fast pace, so it should only be a matter of time before we see a new wave of Bitcoin millionaires.

Some people already made their fortune with Bitcoin, thanks how fast the market's been growing over the past years. You can get there if you play your cards right. It's never late to get into Bitcoin, so if you get in now, you'll be on a road towards financial success. Just my opinion

A very common problem is that people do not understand the concept of letting your money work for you, they understand working by themselves because this is something that they have been doing during all their lives, but it is something difficult for them to accept the concept of investing and then earning money without doing anything, it is natural that it seems like a scam to them, which is why it is important to suggest them to read as much as they can and understand why something like investing for the long term in bitcoin can bring great profits.

Bitcoin is a high currency and has been adopted by economically disadvantaged countries.  all currencies of these countries are subject to inflation, so the government accepts Bitcoin as a new currency and not only the national currency also accepts it as one bitcoin crypto and This is the main crypto that I recognize as the highest in the whole currency, and  People are more willing to trust Bitcoin because it is acceptable and has no control over the country’s economies.

Inflation conditions will always occur in the fiat system.  An economic system formed with fiat must recognize the time value of money which is based on the inflation rate.  How inflation must be maintained and should not be in conditions that are too low or high.  If it is low, there will be no economic growth, while if it is significantly higher then the money will start to be worthless.  This may be one of the factors in the presence of BTC, and if it is said to provide financial freedom it doesn't seem entirely true because there are still many who experience losses after the BTC price crash and they immediately sell it.

In a world where inflation is on the rise, Bitcoin holders gain a huge "economic advantage" over those relying on the Fiat system. The more money is printed, the higher your purchasing power in Bitcoin will be. Using Bitcoin really gives you economic and financial independence. Some people already became wealthy as they invested into Bitcoin early. You still have the opportunity to become filthy rich since crypto is still in its early days. Once hyperinflation takes over the world, Bitcoin will be worth a lot more than what it is right now.

Of course, merchant adoption for BTC is limited compared to Fiat. But that's bound to change as more people recognize Bitcoin's benefits. Who knows how the mainstream economy will look like in the future? Just my thoughts

it would be very good but indeed I feel the problem is still the same as in my country which I currently live in, namely their distrust of something new.
Although it's a pretty good thing to be careful, but to remind and invite in things like this is already quite, very difficult even though we have seen real evidence there.

Bitcoin is an online peer to peer currency which is used for daily transactions and it's an opportunity for people within  your region to see the need to jump into Bitcoin investment and trading because it will help the youth to make money without going out for a physical job that could be mostly frustrating. Bitcoin should serve as an economic advantage for people in your region.

Bitcoin gives us economic freedom and independence at every level of adoption Bitcoin also serve as an alternative to centralized currencies, take countries that have already adopted Bitcoin e.g El Salvador their economy will boost if Bitcoin goes mainstream in the future.

I guess only less than 1% of people are bothering about explaining the real potential of adopting bitcoin by showing the real time example from their own life. Bitcoin is not directly getting us any benefits for making a new person to adopt bitcoin, which must be the only reason why people are rarely doing so.

If it will be too good if you mind to share about your working process as it might help many people on where to start and how to start. I am must be one of them who wish to spread words on bitcoin but due to various reasons I keep on delaying that.

Agreed, but very few know about crypto. Some people see real work as more convincing than investing or trading cryptocurrencies. Even though they don't know what the benefits will be when we do it. I think the social environment also influences the stigma.

I am glad to hear that bitcoin helped you people to survive against collapsing economy. I wish you must work on convincing more people by showing your success level to adopt bitcoin so that bitcoin will grow stronger which will again getting you another level of success regardless of where your country will be heading. It is kind of win-win situation for you and your followers.

In my opinion only very few people are doing like that and I am always into that because when we share about our success regarding bitcoin adoption then definitely it will multiply the magnitude of success recursively.

That is the thing, in theory holding seems like a great strategy that is easy to implement, but this is not actually true, holding is incredibly hard especially if you happen to buy bitcoin before a crash, and while we know that if you still hold your coins you will recover your money it is very difficult to not let your emotions take control at that point, which is why when we saw the crash in 2018 so many people sold their coins despite the fact they knew that if they held their coins they will eventually get great profits.

The young generation of the country making a life out of the blockchain technology, cryptocurrency trading and related activities is really appreciable. But, how far this is effective needs to be analysed.

In real life the adoption rate of bitcoin is not more than 3% around the world. Among that USA hold a maximum part, and the rest gets divided. So, the number of person going financial independent is quite low. People finding it an opportunity to earn is good, but it needs to an investment/trading asset apart from a job to meet their life needs.

bitcoin is a decentralized and unrestrained asset, bitcoin remains very strong. Bitcoin also offers the desire to make money and manage their own money without using a third party to manage their money.
In fact, for unemployed people like me, it's true that bitcoin can help the individual economy, but it's not open to the state.

It sounds easy for the others when we hold but in reality when the market drops a lot. You'll never know what might happen next. There could be an outstanding panic sell that can happen from those little holders that we have and it might include us with the panic selling.
When you have to survive and you've got those holdings and you got nothing as a solution for that problem, you'll really forced to sell even it's against your will.

Holding is not an easy thing and most small holders need money to pay bills and take care of some financial need, bitcoin is a great tool for economic independent and this have lead to small economic stability and a hedge over inflation.

Now truth to be told, the education system has a lot of problems too, the requirements to go through college have gone down dramatically as the education system became nothing more but another industry that is trying to extract money from you instead of being a place to learn, so people cannot find jobs after graduating college because there are no jobs that use the skills that you were taught at school, which is why besides trying to get your degree you need to also train yourself on getting marketable skills so you can more easily find a job.

You have just described the country similar to my country. The government doesn’t provide enough jobs for the youths who graduate from schools every year, and most of them after their graduation from schools just end up being jobless, since there are not much jobs available in the country, so they now have to look for a way to fend for themselves, maybe by starting up any kind of small business. And the lucky ones are able to start up these businesses and grow them from a small level to a bigger level, and become employers of Labor themselves.

I have seen a few of them who now focus on cryptocurrency; they trade bitcoin and other coins on a daily and that has become their own source of income, have seen a lot of them that became successful from there.

For bitcoin to support for the boost of your country economy as you said, that means your country have legalize the adoption of bitcoin and use it as part of her economy booster, really the uses of bitcoin across the nation has reduced some rate of unemployment in the societies perspectively, because youths now hour days pay attention immensely in trading, it's very obvious that bitcoin has eradicate the gravity of unemployment as i stipulated initially.

This is plain truth, not only in your country, my own too. Politics have ruined our country's economic system, graduates are increasing every year and the government have no work for them,this made many graduates to go into crypto trading and other online business just to bring food to their table, because the government did not have plans for the number of graduates and unemployed youths on grounds. Cryptocurrency has been a live saver and trying to stabilize economic.

All currencies printed by the governments are fiat, it is true that as an example Japan cannot print the US dollar and only the US can do that but Japan can print their own local currency and they have been abusing that power like any other government around the world, so there is nothing limiting governments at the time to print as much money as they want.

Also historically it was the rest of the world that began to disregard any kind of limitation to print their currencies due to WW2, so the US was left with most of the gold of the world creating a huge unbalance, so countries agreed back then to treat the dollar as they did gold, so they kept their reserves in dollars which were “as good as gold” and the US kept the gold they got during that time, but then the US began to abuse their power to print the dollar and they were forced in 1971 to abandon the Bretton Woods system due to the Nixon shock.

A Bitcoin is best adopted by countries with totally low economies.  The cryptocurrencies of these countries are subject to an inflation, so the government becomes accepting a broad Bitcoin crypto currency as their currency because Bitcoin is known in their country of origin and it will not happen again with an inflation.  This is the advantage of fiat that can earn value all the time.  People are willing to suffer, trust more than Bitcoin because it is already in the control of governments meaning bitcoin can you earn more than what you think because it is accepted by the government.

Fiat is printed at will if it's America, but other countries still can't, if they don't have it if they don't have a supply of gold as collateral. Therefore, the central bank controls the movement of fiat money in circulation in accordance with the value that has been converted to reserves owned by a country based on the old gold resources owned. But the United States did as they pleased which ultimately resulted in the current long term inflation.

Back to the diverse economies of each country, it is none other than the policy that does not prioritize the development of available resources. Its management is lacking and the government that implements state law tends to be blunt upwards but sharp downwards. Strangling the people to work hard and obey taxes, but the result of economic equality is not felt by the people themselves.

From the description they give, it is likely that I am also from the same country, but it should be noted that the movement and volume of BTC is very significant, and if we look at high inflation it is not affected by BTC, which It means that we are not even drawing accounts with FIAT money, but we calculate our currencies or see it in terms of mBTC to be able to make changes, especially when BTC is high which is much easier because they are less satoshis, the bad thing is to make an exchange when It is in bearish trend. Without a doubt, the model of El Salvador is turning out to be the envy of many government systems, although if we are talking about the same country I think that what is coming for the banks is to work directly with BTC, when they see that is what they are going to do.

It's good to hear that many of your friends are working on a bounty campaign. But I personally think that after working as a marketer of a new project we should focus on technical things too. Like learning programing language and blockchain. Because working only on bounty will not give you good revenue for a long time because of the uncertainty of project success or project being scam one.

The volatility of bitcoin also comes from its inelastic supply, for example we know that fiat can be printed at will and this causes it to lose value over the long term, and sometimes when we see high inflation or even hyperinflation this can happen in the short term as well, however the fact the government can print it and create more of it out of nowhere reduces its volatility when demand increases, but this is not possible with bitcoin as the number of coins and the rate at which are created is limited by the code, increasing the volatility of bitcoin in the process.

that is one of the advantages of cryptocurrency it gives you a level up in your financial life, that is why many refer to it as life Savior.
Bitcoin gives us an edge over the local economy system where taxation will take a large part of our monthly earning.

Talking about officials in the state alone, seems to be envious of their facilities, which are said to be representatives of the people. but never mind, at this time many of my friends are working on cryptocurrencies with their various ways, including trading and investment being an option besides that with the bounty of course it has a big influence

Yes, dear, you are right. The bitcoin business works as the spring may work in autumn. Especially in a third-world country where unemployment and poverty is a big problem.If the Govt of these countries does proper work to legalize and manage the tax system for bitcoin. This act will bring revolutionary change eliminating poverty and unemployment.

I totally agree with this line. The situation in my country is the same as yours. Inflation, corrupt officials, higher unemployment rates crashing our economy. People are trying to find a good source of income when youth are rarely got any job after graduation. In this hard time, many like me find stability in their economic life through crypto. I do not have any full-time job right now but still, I can live a balanced life and support my family. Crypto gives us 100% economic independence.

I think bitcoin economy, or another crypto actually is like  a business or industry, all of them can give you profit or lose. So the problem is not on the kind of business , but our knowledge, ability, skill, etc. So, If you are really good in the bitcoin economy, you have the skills if reading and analyzing price chart, etc, it will give you more advantage, profit.

If talking about the advantage of bitcoin econony, I think it must be the profit, we can't say that it is stable and keep our value asset because the price is always changing significantly.

So far generally I think with the economic situation in my country since the beginning of this year the money I realized from doing bounties is twice my salary summed together from January to December, just grateful for having another source of income.

I agree we can't say lucky to people who have believed in the future of Bitcoin from the start. So they are holding Bitcoin because they believe
that one day the Bitcoin price will be very high, and their patience paid off with the Bitcoin pump price being very high this year. No wonder
many institutions decide to invest long-term in Bitcoin, because indeed they understand Bitcoin is a profitable asset. If we do our research properly,
we will surely realize Bitcoin has a great performance compared to other assets. So people who decide to invest long term in Bitcoin and are
determined not to sell it before their target is reached. Such people will usually make big profits from Bitcoin and it is not because they are lucky.
But they did what everyone should do by trusting the future of Bitcoin.

In the nearest future newcomers will still be referring to us as the lucky guys who dive into Bitcoin at such an early stage as this, the only way we can make a difference is to decide never to sell but that decision is somehow hard for most holders at this moment most especially the smallholder who just need some little profits.

We cannot say that they were lucky, after all I think the cases of people that held their coins accidentally for many years and obtained profits are not very numerous.

The vast majority of those that held their coins did it with the intent of never selling them no matter what happened, after all I think we all remember the crash of 2017 that caused the price to go from 20k to 3k, many people simply failed to hold their coins in that scenario and personally I do not blame them, however the few ones that held their coins needed to have incredibly strong hands to not sell under those circumstances, so I think it is unfair to say they were lucky when luck had nothing to do with it.

I am not entirely sure how much media is impacting crypto in volatility, sure the direction could be manipulated as we all know but the volatility is not something they could be manipulating. They could talk about how awesome gold is all day everyday and it will not have the movements bitcoin has and that is one problem that we can't solve these days.

Bitcoin is a volatile thing because it is not regulated, all those manipulations and moves do not end up being something crazy, they are just outright insensible and if we were to continue with this then we can't just keep on claiming it is the media that is at fault here, it is the bitcoins volatility that makes us move so hectically and make people lose money.

technically bitcoin is not 100% helping the country's economy but if the community in the sense of individuals can be fulfilled and their economy is guaranteed with bitcoin as an intermediary if this can be applied to 80% of the people it will indirectly help and lift the country's economic growth stably because I assume the economy a strong and stable country if the economic life of its people is fulfilled and guaranteed

The situation is somewhat the same in my country, the inflation level keeps rising everyday, coupled with unemployment and other social vices, prior to the pandemic our economy was struggling and right now, many months into the pandemic and things are getting worse, the government isn't doing anything to make things better, but just compounding the whole issue. Bitcoin is a great investment/currency, it has created a lot for people who have harnessed the opportunity, but what's most frustrating in my country is that government keeps imposing sanctions on Bitcoin, making it difficult for people to seamlessly use the currency, Bitcoin will prolly not be able to help the economy on a general point of view, but individually it can initiate a change, that's the more reason I feel governments should be more friendly to the network, but they are not, just cause they can't control it, that says a lot about how selfish the government is.

I am holder so I am well aware of the advantages of holding over trading, however I also traded for a time and I know the challenges that a trader will have to face as well, so if someone decides for whatever reason to be a trader instead of a holder then they need to find a way to make it work, and the best way to do so is by doing something similar to what the holders are doing, after all most holders still have their jobs and they can hold at the same time with almost no effort on their part, however this is not possible with trading as you have to actively trade the markets, so the best option is to keep your job and then just trade on your free time.

Sometimes media hype is somewhat the main reason on why we see people keep losing on their trades since they are promoting crypto or bitcoin in wrong way and sometimes they always talk about the gain especially if we are in bear market and report a little risk only which people will not bother to take. Maybe if people will just be there to find knowledge first before going unto their trades for sure they can minimize their losses and also can able to learn the mistake they made on their past trades.

Actually it depends on the coins they have and they should know what coins are good to trade or keep on hold,
after all to profit from crypto we need to be patient everything takes time,
it's a pity that the traders don't have trading skills

I have learnt that why most people don’t prefer HODL, but rather prefers to trade cryptocurrency is because they feel that they will be able to make money quickly through day trading, than in HODL’ing where they will have to be holding for a long time if the market doesn’t go up anytime soon. They want the money to be coming in quick and not taking long, they can’t have that patience to wait for a long time.

Most of them don’t even have skills in trading, maybe they just read some small articles or watch a little video, and see other people who talk about how much they have made from trading and they feel motivated to start trading immediately. But their story ends up as something else, because trading is not an easy work.

I would say that, at government level, it is just "El Salvador". As I have said in previous posts, using an asset that is limited, cannot be printed and is, as of now, deflationary is not valid for a whole country. It does not allow to follow a monetary policy to attenuate crisis and deflation has an very detrimental effect on any economy.

No, bitcoin is not intended to be used by any centralised and politically controlled institution and my take is that this is by design. It is money peer-to-peer, for the people and the individuals.. You can argue that some may want to have some nominal holdings of bitcoin for transactional purposes... the CIA has been mentioned but sources, well, you know, if "I tell you about the sources I would have to kill you after."

Cryptocurrency is a good investment for the youths in your country. I know for sure that it is going to help a lot of them and they will become financially stable. But personally, I don’t think that this is going to be the solution to the bad economy that your government has created in the country for you all. But like I said, it is quite possible that most of the youths that are going to be investing in cryptocurrency, as long as they are doing it right, they are going to be financially stable.

As for the issue of the bad economy, I think this is something that can be solved in another means, and not really through cryptocurrency. People do misunderstand what Bitcoin and cryptocurrency in general is all about, this is not the purpose of it. If you people have plans to fix your economy, then you should fight towards having a better government.

So we have Salvador and that's it, Bahamas is not using Bitcoin but a centralized CDBC and neither is any other country!


You're mistaken what the mayor of Miami does in his personal life with what the city hall of Miami which represents the administration does, as for Ohio they've canceled bitcoins payments two years ago and it was just for paying taxes purposes.

Again, the question was:
Which countries with weak economics have adopted bitcoin?


Name a few government branches that have invested in Bitcoin!

I belong to the same country. It's truly hard to live in such state that has corrupt government officials who only think of themselves and not the betterment of the country's economy and the citizens' welfare. Here in our country, there are a lot of traditional politicians that only aim to bag money from the people's taxes. It's very awful because despite the pandemic crisis, they still have the guts to manipulate and deceive the whole nation with their evil schemes.

In addition, financial literacy isn't really much tackled here resulting to more people falling under the poverty line. There's lack of opportunity, lack of education, high inflation rate, and high unemployment rate that causes the economic status to decline. This is where bitcoin becomes very beneficial to most of us. Right now, most people view bitcoin as a safe haven of their funds because it is lesser prone to inflation. To add, bitcoin is also isn't manipulated or controlled by the government which makes it ideal to be a store of value because they can't just excessively make it out of thin air which could compromise its value. Bitcoin and crypto in general also offer a lot of opportunities that the government can't provide. It's truly a blessing moat especially to those who don't have so much because they can make the most out of their resources if they will just strategize the right way.

This has been the case for most countries, especially third world countries where the governments are corrupt. And I happen to be living in one of those third world countries, and inflation has been really high, especially after this covid19.

Cryptocurrency has really helped a lot of us, and through trading we have been able to make earnings that are enough for us to live a better life and take care of our family, despite how hard that things has been. Imagine that you’re working as a government employee, you are being paid a certain amount and then there happens to be inflation and the cost of things or the cost of living is high, you won’t be able to take care of yourself anymore. This is why we have to work hard and invest in the right assets, which bitcoin is part of it.

Or, better yet, just focus on your job and put trading away from your mind. That's just taking a lot of attention, time, energy, and so on from you. Why don't you just buy Bitcoin, keep it somewhere safe, and give your 100% focus on whatever else that you do?

HODLing gives you minimal risk. Moreover, with HODLing, there's almost no possibility of a loss. And without having to analyze charts, constantly monitor the tiniest movements of the price, follow news, and so on, you could give your all in trying to squeeze out some income from a crippling economy.

Since Bitcoin has risen so much in the last few years it's easy to think that it's some universal source of wealth, however it's really just become part of a big trading game where people are collecting these virtual tokens and hoping to resell them to someone else at a later point for much higher amounts. In reality it was originally created as a virtual currency, to be used similar to fiat currency in useful economic transactions and on a daily basis. However with the flood of cheap money into the world funded by central banks printing like crazy, it has in fact just been a big recipient of that. It's ironic that people complain about rampant money printing and how Bitcoin is a haven from it, when in actual fact a large part of the price increase is because it benefited from that money printing too.

Bitcoin itself is used by El Salvador as we know, used by Bahamas uses it in altcoins and blockchain and network reasons for many official stuff, there are nations who invest into companies for their funds that owns bitcoin, so technically they invest into companies that invest into bitcoin.

There are quite a few interestingly, not a ton but there are some. We also have official branches that invest as well even if not government, like pension funds, mayors, states and so forth in USA that are in billions (Miami mayor, Ohio state, firefighters pension fund) and many other examples like that. All in all it is a trusted and well respected method of investment for many people and many corporations and many government branches all around the world. Sure there are some that want to ban (like China) but there are also more that want to invest.

Without a doubt that is one problem of trading in general, after all it is impossible to generate profits in a consistent manner, after all in a  single month you could generate huge profits and then the next three months you do not generate anything or even suffer some losses and now you need to try to find a way to pay for your bills in some way or form, so I agree with you in the sense that it is better to be a part-time trader and have another job so you can more easily withstand those periods of time where you get no profits with your trading.

Well, I wouldn't be too happy. As for independence, not everything is as good as it seems at first glance. The fact is that without electricity, nothing will work, and since right now the world is covered by an energy crisis, there is a big threat of losing all crypto assets. After all, if a power outage begins, then there will be no access to crypto wallets and our crypto assets. Based on this, I believe that the crypto economy is difficult to be considered reliable, but fortunately those who already use cryptocurrencies have already been able to make good money. I have also been working with cryptocurrencies since 2017 and I can say that this direction really helped me to get additional profit, but I also understand that there are risks and you always need to know about this risk in order to react in time and not lose your assets.

It is good to read that bitcoins helped you to be less dependent on your local Fiat currency. While corruption and inflation is not that high yet in my country I also worry about them. The politicians have so much power within a country, a few wrong reforms can send the economy downward and cripple the currency. Together with inflation this is the biggest risk we face for our savings. That I is why I believe so strongly in bitcoins and other crypto currencies. We need alternatives to the state monopol on monetary supply. It became to easy for politicians to use fiscal stimulus to cover any short falls in the government budget. Crypto currencies are the future and will increase the pressure on countries to get their finances in order.

Yes, you are right. We are in the digital era feel the advantage of the internet that we should not waste it, especially since we knew bitcoin from a long time ago. Many people underestimated if bitcoin could grow as today. Bitcoin itself gives changes to individuals who use bitcoin to make money as they can have a new source to get additional income. That is the positive impact for those who use bitcoin but for the others, bitcoin is like a threat and they will do anything to make sure bitcoin can not grow for more. But bitcoin will grow and show the benefit to many people so they can see that bitcoin can give better finance to them. If they can stick to bitcoin and still search for a way to change their lives from bitcoin, they will have a chance to get it.

You have bigger problems that bitcoin will ever be able to solve

I wonder why everyone is focusing on the gains made by investing, those gains will at one point be minimal, no coin will ever be able to keep an x10 price increase every 2 or 3 years, this will simply be impossible.
So once the advantage from the price increase and you making a profit in $ terms goes away you're still having the same issues, corruption, imbecile politicians and so on which, guess what will those do to your earning? They will dry up in a matter of years because of this system, and you're back to square one.


Name a few!

That is the advantage of bitcoin for any country that made it legalized in the country. It gives power to overcome unemployment and transaction delay in the country. It will improve their economy in every area the economy is not working well before to start functioning in the country. those countries that accepted bitcoin over some years are really doing well with their economy and other businesses activities in the country.

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.

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.

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.

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.

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. 

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

I don't believe bitcoin should be the independence in financial economy that people seek for. The volatility of bitcoin is capable of bringing the savings of a family down within minutes and then the family goes back to zero level to either start from beginning again or separated because finance is important in family lives. Look at what happened yesterday  with the price of bitcoin, it went down cutting off more than $10,000 for just a day and this affected altcoins. This is the reason for diversification.

Bitcoin is independent from the view of blockchain but putting all you have in bitcoin or cryptocurrency is not independent.

Although I agree in principle that Bitcoin can help an individual not to be completely dependent on the existing financial system, it is not a one-way street where honey and milk flow. The question is how does the average Bitcoin investor feel today when about 20% of his value has literally melted away in the blink of an eye?

I believe that many woke up and were unpleasantly surprised, especially those who invested not so long ago when it seemed that it was only a matter of days when some magic would double their invested amount.

---

You are not the only one who has such a problem, and I can tell you that in many countries that are considered part of the advanced and civilized world, the situation regarding corruption is very bad. The difference is that people may be living better in those countries and not paying too much attention to what those at the top of the pyramid are doing.

indeed there are some countries that have economic problems so that their currency is not worth legalizing bitcoin as a currency, but for developing countries and even developed countries are still considering its legalization, in my country inflation always rises every year, but it is still far from legalizing bitcoin as a savior of the economy . I don't know, politics and economics are hard to separate

My country's very similar, but it's trying to improve its state. One of the ways of doing it is that we're planning to adopt cryptos, create favorable regulations of them. This might help the economy. We're also planning to move some registers onto blockchain o ensure transparency and avoid fraud. These things can affect the country a lot. But as for mere usage of cryptos by individuals, it can benefit some while bringing unfortunate times for others, but to fix a broken country, changes must be country-wide, I believe, and Bitcoin, on its own, cannot to that.

The same thing here in my country. Corruption, inflation and economic paralysis have led to the national currency losing its value and no longer worth anything. The cost has doubled and the chances of getting a job have decreased, and wages are very low because of wars first and then because of the government’s stupidity in dealing with the crisis. I am one of those who found financial freedom through Investing in Bitcoin and Crypto I started independent from the government job salary which is not worth anything, I get a good income through my work on Crypto and I no longer need this paltry salary.

Bitcoin actually gives you the freedom to control your assets and use it to your advantage. We've seen how people utilized bitcoin to aid them on their failing local currencies, and we've seen them fare better compared to just continuously using their local currencies that have no hope.

Then again you simply can't erase local currencies from the equation. One way or the other, one will have to use local currencies since bitcoins and crypto can't still be used directly to pay for goods and necessities. At best, bitcoin can serve as a hedge against inflation—at least for now.

Bitcoin has given most people the financial freedom that is needed, one has to know the fundamental usage of bitcoin and the blockchain technology, one of the most important aspects of bitcoin is to give its end-users the will to be independent.

It just takes the right calculations and thinking about how the Blockchain work system will offer useful services for the future. With the inflation rate and the economic instability of a country, it certainly squeezes all elements to be able to save themselves to a better level of improvement. As is the case today, the correction hit the alternative to the resistance. And the fact is that those who can be friendly in the long term must also prioritize potential. Bitcoin is also entitled to correction, but the rate of correction of Bitcoin and its increase will be much faster than the inflation rate which will have to be corrected by agreeing on a loan from the central bank. .

That's the greatness of bitcoin because it is able to create independence in handling finances and also the economy for those who use it in different ways to be able to make money, to meet their needs and also for their future by trading and investing.
to get involved with bitcoin you don't have to be highly educated and also have expensive tools to get them, they just need a small device i.e. a cell phone which can access the internet and that is enough to use to generate income from bitcoin or other crypto which is an opportunity for those who are unemployed and also those with low education, the most important thing is that they are willing to try, willing to learn, have the will and also have the passion to improve the situation and this industry is a source of income for everyone and have the desire to change their lives independently.

Bitcoin offers people the will to make money and take care of their own money without using a third party to manage their money.
Unemployed graduates can also join in crypto as long as they can connect to the internet and search for the opportunity to make money.
If they can work from the internet, especially in the crypto world, they can change their lives and will have a better life in the future.
As long as they are willing to have a better life and want to work, they will succeed in the future.

Despite the fact that bitcoin is decentralised and uncontrolled asset, it is staying very strong. Just imagine one thing here, though there is no minimum share which is locked up forever then also bitcoin is growing in its value all the time. I mean as an example for any company there is at least 51% share holding by the directors or founders which create permanent resistance to share price. However this is not the case with bitcoin. There is no such fixed share, it can be diluted to the last bit also and become zero! But this never happened due to its firm and positive impact on the investors. So we do have economic model which is sustaining with crazy value.

Education in conjunction with poverty. Bitcoin is not a factor in 3rd world countries and never will be. They're not well adjusted, have no technological advancements, and their economies aren't close enough to warrant crypto usage. The goal of a 3rd world country is not wealth, it's survival. You use Bitcoin if you have wealth within a working economy and want to preserve it, you don't use Bitcoin to survive. That's not to say that lockdowns didn't effect 3rd world countries, but the GDP lost was nothing compared to the top leaders in China, NA, and EU regions.

Yeah, it could be giving us a sort of economic freedom and then we can used bitcoin to store our wealth as well and not be dependent on banks. And we all know that if a economy suffers, we might see some bank runs so there are chance that we might withdraw our money in the first place.

Nevertheless, it will still be a long way to go for the majority of us. I mean there are still countries that are totally against bitcoin so the population can't enjoy this kind of freedom.

This prevails in most third world countries where there is big economic problem, particularly unemployment. Cryptocurrency gave access to earn something than nothing during the lockdown when more number of job cuts took place. By the time some were lucky to make it a better earning out of luck/knowledge acquired on blockchain and cryptocurrencies.

The need for blockchain developers have increased a lot, and the same have made College/Universities offer more number of courses for blockchain related studies. In my view it hasn't made people to be economically independent, big it has added some earning to make life better.

lucky for those who got into this market, and understand how things work here, in order to earn money. many are trying to get hands on this market for the mere purpose of gaining large profits, but not all of them can attain such target. because once they got in, they realised it it is not easy as it seems. you can't learn the skills here overnight. you need time to at least get the grasp of what's going on and understand how you can generate profits.
every coin or token you will venture with, have their own time in the market. so that's what you need to monitor. how you can optimise your profits for each coin you are holding. that will take patience and your time.

Economic and financial independence has always been one of the biggest plus points associated with BTC and other popular cryptocurrencies. The primary intention of BTC and other popular cryptocurrencies is to put the power back into the hands of common people.

How? By features such as decentralised financial activities, lowering dependence on physical FIAT etc. These features are basically why the world governments feel threatened by crypto which is why some try to regulate them and some others try to ban them.

True. I would also like to add that popular cryptocurrencies serve as alternate payment options which could be very useful in various situations.

The bull run does wonders.

But honestly, in the long run, bitcoin isn't going to be a panacea for every problem that we have in the economy.

It's not going to solve unemployment, world hunger, etc. at least not directly like the way that some people tend to push it as. It is however going to always be there as a viable store of value that shields your wealth from the government's arbitrary decisions.

In theory, everything you said is 100% true.

In reality, I expect short sellers to target bitcoin for destruction. Identical to how they targeted and tried to kill tesla stock, twice.

There was a time only a few years ago when many experts and analysts in the media said tesla stock was a "bubble". They encouraged traders all over the world to short and sell tesla stock under the expectation that it would decline in value. What happened? Tesla stock increased in value. All of the short sellers got badly burned losing more than $4 billion dollars on their bets that TSLA would decline.

Hopefully bitcoin can also succeed the way that tesla did.

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.