Topic: Boost of a countries economy - page 4. (Read 474 times)

Diversification of the economy is required, but rather very necessary for the growth of the economy of any country. Countries whose economy depends on one product or one resource will collapse in the event of disruption or exhaustion of this resource. Therefore, it is very necessary to find diverse resources for the continuation and prosperity of the economy.
Of course, cryptocurrencies can provide a lot of additional resources for governments through taxes that are imposed on income from cryptocurrencies or other components that cryptocurrencies need such as mining hardware and components, as well as can provide a lot of job opportunities, especially for young people in these countries, but unfortunately the governments of countries It is depriving its people of these resources as well as depriving them of enormous resources through taxation by banning cryptocurrencies, banning mining or not regulating cryptocurrency.

Crypto is one of the best performing investment during the pandemic but it also creates a mindset for some desperate people especially those who got terminated to their job that putting all money here will be their source of income. They thought crypto can give them a regular source of income without realizing its not how profits works on crypto.

People have to think that learn to diversify investment. Crypto is not meant for short-term profits especially for newcomers who are not aware how to make profits out of trading or holding crypto.

It depends on what you see cryptocurrencies as. I will disagree by these;

No country will confidently invest in what she does not understand or control. The best the country can do for her citizens is to allow them participate in cryptocurrencies and not the country investing in it.

Also, how do we and the government see cryptocurrencies? As a currency? If yes, will a country invest in another currency that is not hers? Will China sell Yuan and buy Euro in the name of investment? Again, no country will base her economy in what she does not understand.

When you talk of diversification, there are tangible investment opportunities for countries which they have been utilising. So, we do not beg the government to join us here, rather they should stop fighting us.

If there's no bear market season in crypto then price will always goes up then I will agree with you that crypto will be a great boost to the economy but this is not quite possible for now since we have huge drop which is also happening and that is currently what we are experiencing now, so Imagine on what will happen to the country which is building up when they buy at wrong time so for sure they will struggle and might suffer from heavy lose right?. Provably crypto is not included in the option of government to recover back from the current crisis since for now they are taking it as risky investment hopefully by the demand and adoption we can change the perspective of all towards crypto.

Crypto indeed would boost a country's economie. If a country has a high unemployment rate, all it has to do is to adopt bitcoin, open new bitcoin mining farms and employ the unemployed people there. If they work hard enough, they can even export the unused bitcoins to the rest of the world and make a killing. It is almost a no-brainer solution.

but in the context of a country that can be said to be advanced in the economy is a country in which there is no crisis from the start of employment, providing facilities that are in accordance with the expertise of its citizens and the lives of the majority of its citizens are decent. that's just a country that can be said to be successful.
besides that crypto also cannot be used as the first economic source in a country because judging from the volatility and large market capitalization it will not be suitable if it is the main source. there are many sectors that can be featured apart from crypto such as agriculture, marine, tourism and human resources itself and crypto might actually be very suitable to be used as an alternative.

I think it works in multiple approaches as well. Think about how much a nation can profit in so many different ways. A nation could tax the crypto incomes, tax the crypto companies (exchanges and miners etc) and they could also get a lot of people hired, helps unemployment numbers too, many exchanges in a nation requires maybe thousands of workers if it is allowed a lot. So, it is creating a whole new sector that will be taxed and help the citizens of that nation.

Secondly they could earn from people working in their own nation but earning from other nations, which means it brings in foreign currency to their country, new money in a nation that was in another nation, helps grow the economy that way as well. Lastly but not least it helps the nation to invest into something that is leveraged against fiat, which means while fiat drops, the reserves with bitcoin will get richer as well. So it is a great benefit to any nation overall, it really helps out a lot.

First of all, I think it may be incorrect to say some points too early, but it may be correct to say these points later or at a certain stage. I think that the prosperity of a country needs to start with the basic education and basic education of the people.
Only when the education and ideological education of the people of a country are raised, the economy of the whole country will prosper，The economy of the entire country will prosper, because at present it is still up to "people" to realize the development, production and consumption of many products.But if it reaches a certain stage, for example, Bitcoin has been accepted by many countries and there is a strong consensus, then I think that, let alone, it will already be recognized by people.

El Salvador is one of the greatest Bitcoin experiments, I heard  Max Keiser also said this. It did invite people and probably companies that are going to participate in the economy of Bitcoin in the country but this country also has some resources to share with its investors. It may not work for some countries.


Having a big gathering through a football event may cause the virus to spread. This is not ideal for a government that wants to thrive thru cryptocurrency. The big events like boxing and MMA match today, only have few attendees, mostly are just watching online. With so many deaths thru this new variant, the economy will not survive.

Football will boost the economy?Are you kidding me?Is this a joke?
In my country,the economy is going really well,despite the pandemic.
The COVID pandemic had an impact over the global economy in 2020,mostly due to the lockdowns and closed borders.Now,the borders aren't closed and the lockdowns aren't so severe.
Cryptocurrencies cannot boost an economy,because cryptocurrencies are just tool used for economic activity.
Saying that crypto will boost the economy is like saying that the US dollar or Stocks can boost the US economy.
An economy can be boosted by increased government spending,or lowering the taxes,not by cryptocurrency adoption.

They're simply selfish towards the growth of Crypto Currency, Do you think it's a must for government to gain from everything in there country ??
They keep making safe decisions rather than right once,as you've said, they'll lag behind in the future.

I ain't hundred percent, this is educative, I'll learn from it henceforth.
Yeah I agree with you, crypto currency has contributed more to individuals with a self less government.
This is to say the government gains nothing right ?

There really are those countries that relies mainly on what's with their country to generate income not just for the government but as well as for their citizens. Countries that are like that mostly are the small countries.

But the majority of the countries have different source of income and they're now exploring new things. Like in the Middle East, they're known to be the center of oil refinery but as soon as they've assessed that the oil's not going to have unlimited supply, they're now also expanding with tourism and other stuff.

This is too much, because if it is said that one that contributes greatly to the scope of a country's economy means that country adopts Bitcoin as its official currency?
This is not in terms of overall, because to improve the economy of a country is from natural resources or wealth that is owned is used as a means for people to earn income.
As the previous comment said that opening job access is very important thing. Because the economy after Covid 19 is really unstable and of course to recover we can't let people enjoy the layoffs. There must be a real job they should get.

No, I do not agree, and I strongly disagree
A crypto is not an economy ... I’ll even tell you more than that - your local currency is also not an economy. These are all instruments ... But the monetary or financial system is already one of the elements of the economy. The economy is a set of measures that form the competitive advantages of the state system in the internal and, of course, external (regional, union, world) market. Therefore, cryptocurrency is not an economy, but an entity that can be one of the components of the country's economy, which will be aimed at making a profit, generating a profit, filling the treasury with taxes.

Cryptocurrency is not a commodity that countries can tap into to achieve financial growth, sure cryptocurrencies make people rich, but beyond all this you have to understand that at the end of the day, they are named currencies for a reason. Cryptocurrencies wouldn't have any intrinsic value unlike regular resources that are necessary for survival, this alone already crosses it out as a potential avenue for countries to use in order to improve their economy, but you also have to remember that we are on the way to a digital future, and cryptocurrencies show promise in becoming the future's method of payment and transaction. With this in mind, cryptocurrencies will act more like a currency that would rely on some factors for price.I would 100% agree on this. Countries that couldn't flourish even with enough resources wouldn't work well with cryptocurrency as well because it takes literacy and comprehension, something that may not be rampant within the confines of their territory. Improved state of education, jobs opportunities, clean and safe drinking water, lower crime rate, if at least a number of these are fulfilled a country is sure to develop and improve without the need for cryptocurrency's intervention, and if all of those are still an ongoing problem within a country, then we can safely assume crypto wouldn't do them any help at all.

I do think that the government has to understand the fact that there are things that cannot be controlled. Things like bitcoins and cryptocurrencies. There are many reasons so as why the government thinks they are a threat and decides to ban them.

1. They cannot control them and they want absolute control over everything.
( For countries like China)

2. They think this might take over their own economy, like fiat and other tradio investments instead of supporting it, which I do think is stupid since it's something that will help them grow if done Right.

3. They think this might increase the instances of drug dealing etc.. anything pertaining to the black market, I do think fiat is an easier tool for sure.

4. They think it's absolutely unnecessary when we do see things like *El Salvador* I do think they should realize that it's going to be a necessity in the near future and they might now wanna lag behind for sure.

The aspect I can agree to the idea in the post (which is the help part) but not to the country or to the economy but to the general citizen of the country because of the job that citizen do from it. Cryptocurrency give help to the youth. The government is not able to provide jobs to everyone and the people are taking care of themselves through the means of trading. Another point I can consider is the comfort as payment options that it is providing now because you can choose to make your transaction with cryptocurrency like bitcoin. So the government is not getting any economic boost from cryptocurrency because they are fighting against it.

Improve the economy of a country? A successful country is one that can prosper its people first. Opening wide job opportunities, providing access according to the skills possessed, not limiting work to just a diploma because out there many people without a school diploma have skills according to what they are interested in.

Apart from all that, there is no country that is really ideal and can be said to be a country that has really succeeded in increasing overall economic growth.
most of us are still vying to grow the economic well-being of individuals and groups. So as long as the stigma persists and the achievement of a successful country in developing its economy, it will have obstacles. Meanwhile, the key is in a productive society.

I do not agree with this post, crypto-currency is not a major source of. Contributions to a country economy, developed or under-developed countries, resources like agriculture, petroleum, tourism, human resources, nature has been contributing to nations economy, I believe in crypto-currency but I don't think it's has contributed to any  country majorly than the countries other economy,
Infact one source of contributions that the government's get from crypto-currency is taxation and this has become a rip-off to crypto-currency enthusiast especially long term holders, I think crypto-currency has contributed to individuals and countries with self less government.