Topic: Bitcoin plays a vital role in the economy - page 20. (Read 2363 times)
I think if bitcoin wants to be something acceptable to the government and to be an important role in the economy. Certainly bitcoin will be set up so well by the government as it is taxed in every use.
at the present stage, the impact of cryptocurrencies on the world economy is very significant, mainly due to the number and amounts invested in them, as well as, in part, due to their growing demand as a means of payment and protection from outside interference. Nevertheless, the risk of collapse is very serious and its consequences, due to the lost funds, can have a very negative impact on the economy as a whole.
I wouldn't say that it plays a vital role, yet, at least to the government. But I believe that bitcoin's true potential is starting to reveal itself as time itself, and adoption levels continuing to go up at a steady pace.
One of the most obvious roles of bitcoin that I can think of would be international remittance, and debt settlement. Instead of having to deal with exchange rate risk, fees, and all that, businesses can simply use bitcoin to settle their trades. That's something that the economy needs right now, and bitcoin is the best thing available for a unit of account in international trade, imo.
Furthermore, if governments do legalize bitcoin businesses, and regulate them positively, it'll mean that they're attracting new crypto startups to their country, which is a positive thing in itself for the economy. These are only two examples, and the roles that bitcoin can and is playing in the economy will only grow in the future.
One of the most obvious roles of bitcoin that I can think of would be international remittance, and debt settlement. Instead of having to deal with exchange rate risk, fees, and all that, businesses can simply use bitcoin to settle their trades. That's something that the economy needs right now, and bitcoin is the best thing available for a unit of account in international trade, imo.
Furthermore, if governments do legalize bitcoin businesses, and regulate them positively, it'll mean that they're attracting new crypto startups to their country, which is a positive thing in itself for the economy. These are only two examples, and the roles that bitcoin can and is playing in the economy will only grow in the future.
"The key to the legitimacy of the system for all of these parties is to establish that people using the system are acting legally and responsibly." Hence, Money's use carries associations of value, which in turn helps establish whether a currency, a payment form, and a social model for transactions are legitimate. "It's hard to bring any of them on board if the money is associated with behaviors consumers are troubled by,".
Yes Bitcoin is a vital role of the economy, the value of the bitcoin changes the world economy. Those who are not getting a better monthly salary, they are searching a alternate source of income. Bitcoin solve this problem. I think in future the government will realize the good things about bitcoin.
yes you are right bitcoin start to play with the price conditions and give effect to the world economic condition, imagine if bitcoin can become the main digital currency will surely be expensive.
It is never worth saying.In fact,Bitcoin plays an undeniable role in any country's economy.Unemployed find job, gain-profit as a result of turnover-investment.The country will become a heavier asset.
As far as I know, country's economy are dragging down because of its citizens who doesn't have monthly salary and facing difficulty to make living. Bitcoin provided an innovations for living. As far as it helps that person, the lesser the chance that person will depend on anyone else and that could be helpful to lessen the country's burden towards its people. So, if only bitcoin was welcomed by everyone, it will probably a big help to them and to their country as a whole.
Bitcoin can definitely turn around the economy but just like others in order to to reach their goal it will require hard word determination and knowledge. More people are now adopting crypto as investments but in the future when more projects succeed using blockchain technology then there will be a good outcome that users will benefit.
Bitcoin opens many doors of new markets, which would affect the economy of a country, the reason why there are some countries who don't like bitcoin because cryptocurrency controlled by no one and because they don't get taxes. But if governments open there eyes and use bitcoin in its positive ways as possible you would be shocked that the third world countries who opens their gates on bitcoin will become one of the best countries we have ever seen.
In this matter, bitcoin helps one's economy indirectly but bitcoin itself does not help at all. Bitcoin users use bitcoin to build their own business/es as part of their investment and with this, they help economy to progress.
Yes a country's economy can be upgraded with Bitcoin with government records to be able to accept Bitcoin and legalize Bitcoin and impose a tax on Bitcoin users in trade or investment or transactions. It is this tax that gives the government income.Only some people do not pay their taxes when trading Bitcoin and Cryptocurrency which does not mean that Bitcoin affects the economies of the whole country these same people will never pay their taxes when they do other things so the economy not changed because of them.
it seems that bitcoin can not be the trigger of the movement of the world economic condition because the current trading volume is not too big, different if it has beat the trading volume of the dollar is certain it can happen.
Since more people are now embracing cryptocurrency I'm sure Bitcoin plays vital role in the economy, because it bring many opportunity to the society. It open many new door in terms of jobs and potential profit to earn in investing Bitcoin without any tax.
Bitcoin is a cryptocurrency, so it has a price. And also in many countries bitcoin is now granted. So it plays not only a vital role but also some day it will control a large number of economy in future.Many people believe that they can change the way through bitcoin in economy.
Definitely yes, Bitcoin plays vital role in the economy because it gives numerous opportunity to society to earn profits without any taxes required, although government will not really agree with cryptocurrency but I know later that government can realize the good thing brought by bitcoin.
Bitcoin opens many doors of new markets, which would affect the economy of a country, the reason why there are some countries who don't like bitcoin because cryptocurrency controlled by no one and because they don't get taxes. But if governments open there eyes and use bitcoin in its positive ways as possible you would be shocked that the third world countries who opens their gates on bitcoin will become one of the best countries we have ever seen.
Yes! it does ! as a whole it can make a big increase in a country's DGP and it can change the lives of the citizens. Here in my country i have seen very poor families that struggles to survive daily that they even have a hard time feeding three times a day..Every things change when they join bitcoin now they are living a more comfortable and productive lives. So bitcoin has really change the financial status of the people and as a whole it makes the economy of a country more productive. Bitcoin opens many doors of new markets, which would affect the economy of a country, the reason why there are some countries who don't like bitcoin because cryptocurrency controlled by no one and because they don't get taxes. But if governments open there eyes and use bitcoin in its positive ways as possible you would be shocked that the third world countries who opens their gates on bitcoin will become one of the best countries we have ever seen.
I think the economic growth of the country not only about taxes bro, don't forget about micro economics and macro economics which very important role in the economy of a country.
Btw, its like my opinion in two month ago but somone explain to me about that and changes my opinion
it seems that bitcoin can not be the trigger of the movement of the world economic condition because the current trading volume is not too big, different if it has beat the trading volume of the dollar is certain it can happen.
Bitcoin is a cryptocurrency, so it has a price. And also in many countries bitcoin is now granted. So it plays not only a vital role but also some day it will control a large number of economy in future.Many people believe that they can change the way through bitcoin in economy.
Bitcoin opens many doors of new markets, which would affect the economy of a country, the reason why there are some countries who don't like bitcoin because cryptocurrency controlled by no one and because they don't get taxes. But if governments open there eyes and use bitcoin in its positive ways as possible you would be shocked that the third world countries who opens their gates on bitcoin will become one of the best countries we have ever seen.
Yes because bitcoin opens many doors for new markets. It would greatly affect the economy of a country. The one of the reason why there are some countries who don't like bitcoin it is because cryptocurrency is controlled by no one. And users don't give taxes. But if governments will just open there eyes to bitcoin, and then maybe they will see the so many advanatges of bitcoin. 
I think that the bitcoin plays not for so much important role in economy as we would like. Very important in technologies and at the level of individuals, but not at the level of the state.
Bitcoin opens many doors of new markets, which would affect the economy of a country, the reason why there are some countries who don't like bitcoin because cryptocurrency controlled by no one and because they don't get taxes. But if governments open there eyes and use bitcoin in its positive ways as possible you would be shocked that the third world countries who opens their gates on bitcoin will become one of the best countries we have ever seen.
Government has already opened up their eyes, and when they did they started banning the crypto currency. Because there is valid reason for that, they cant go on tracking each and every transaction that comes out of the crypto blocks. It means people still can hide more than enough funds over their and trick the government. It would be unimaginable how people can transfer millions in second over the international accounts and do the money laundering. So its not like if we started paying the taxes then we are good to go with it.
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