Topic: Can bitcoin improve the economy of a country? - page 2. (Read 52300 times)
I think that a lot depends on the country! Actually, there are numerous ways how the government can take advantage of cryptocurrency and get profit, improving the economy!
I totally believe that Bitcoin can improve the economy of a country.
The economy depends on the buying power of the people of a country. When the unemployed people found something as a source of income or an alternative way to generate money for their families, I think the buying power of every individual will be strengthened. Thus, creating a domino effect on other aspects of the country. The more the people buy goods from the companies, the more profit the companies will be generated. The company will eventually expand their business and will produce more work. In addition to this, Bitcoin transactions were too fast compared to the existing currencies and mode of payments.
The economy depends on the buying power of the people of a country. When the unemployed people found something as a source of income or an alternative way to generate money for their families, I think the buying power of every individual will be strengthened. Thus, creating a domino effect on other aspects of the country. The more the people buy goods from the companies, the more profit the companies will be generated. The company will eventually expand their business and will produce more work. In addition to this, Bitcoin transactions were too fast compared to the existing currencies and mode of payments.
Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?
If a country accepted bitcoin as one of their legal currency and being used by its people in any kind of transactions, there is big chance that the cryptocurrency might also boost their economy. In japan, bitcoin is already legal and many of their merchants have started to accept bitcoins as one of their mode of payment. Mass adoption of bitcoin into mainstream will eventually contributes to the economic growth.
I don't think.Bitcoin is good for countries economies because it is a fresh flux of investments if they are correctly regulated and directed.I hope that one day my country will accept Bitcoin, it would be great for our economy and could help us solve a lot of problems due to the currencies change black market as people could buy Bitcoin and sell it in foreign countries instead of playing with the black market.This was just an example of how bitcoin could help a countries economy, but i think that regarding the countries who aleready accepted it as a virtual currency, the main advantage is the security, as it is far better then using a credit card, and it can give a good punch to start-ups growth.
Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?
In order to curb inflation, the use of bitcoin in payment and financial management is well suited. At present, some countries have applied bitcoin quite widely. Whether bitcoin can improve the country's economy depends very much on whether it is possible to introduce regulations on the use and management of bitcoin payments so that bitcoin is not used in a bad way.
Bitcoin has been proven to make many successful and wealthy people, with simple things they can do it, and of course this becomes a great opportunity for everyone to improve life with bitcoin especially if the government has legalized.
Yes of course there is possibility for the bitcoin network to improve the economic status of a country by providing a source of income to the unemployed and an additional source of income to pay out day to day expenses of the working people in fact this network has the capability to eliminate poverty which ultimately improves the economic standards of the country.
Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?
Yes bitcoin can improve ones economy of the country and it is the reason why the government are having good interest in growth of bitcoin, bitcoin has proving a lot of different jobs to jobless people in our country and only bitcoin is having high amount of possibility for all those people who are the breadwinner for their family, the best thing bitcoin has done for the betterment of the economy is job opportunities and unemployment is reduced to huge extent because of bitcoin
Improved economy is also measured by improved life condition of the people. And if people are earning they have money to spend for basic needs thus they contribute to the economy. So those who are into bitcoin are in a way helping improve the economy.
I think it can because the bitcoin can become a way for them to transact and transfer huge payments which fast speed of transaction and also a cheap fee for their transaction so it will give a huge discount and a way to save money for the country and also for the other people that will use it and those saved money will result to have a better economy of the country because they can use the saved money to make profitable investment or businesses.
I think that bitcoin can not enhance the economic climate of the nation, because it is just a currency, and never something for fixing economic problems. It all depends about how the government uses it
Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?
To improve the economy in countries Bitcoin should be formaly introduced and recgonized by economic system and that also mean full regulation and full acceptance by businesses. Otherwise it can't make no influence at all.
Honestly, I don't see any chance that any country introduce Bitcoin or any other cryptocurrency in economy for several reasons like high volatility, limited number of coins, decentralized technology and so on.
Honestly, I don't see any chance that any country introduce Bitcoin or any other cryptocurrency in economy for several reasons like high volatility, limited number of coins, decentralized technology and so on.
I think with so many bicoin users in a country can improve the country's economy because bitcoin has made their economy better and their economy is increasing so that it will certainly affect the country's economy.
If it has improved that my,I say yes it can improve the economy of a country, if only the country will freely accept bitcoin into their country and illegalized it with heavy taxes and strict regulations.
I think that bitcoin can improve the economy of a country by giving more opportunities to people to have some profit and invest in real life.
Definitely as we go on in the discussion about Bitcoin we also have to think about its advantages for the whole world. Bitcoin can boost up the economy of a country when accepted in the country in all proportions. We would be able to buy any product we need for our daily life survival through Bitcoin payment and we know that all the products are providing in market by our country so automatically the economy of a country will boost up due to the getting of huge profit from Bitcoin.
Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?
Bitcoin is a powerful tool that contributes a lot to a society to include the country itself. It gives a lot of advantages more than the disadvantages. Employment, fast transactions, business and other features of bitcoin has a significant role in people' lives. The more people engage in bitcoin the higher the contribution it made to an economy that it brings on.
Yes bitcoin is improving the economy of the country and it is the reason why our government are taking good interest in growth of bitcoin, bitcoin is proving a lot of jobs to jobless people in my country and bitcoin is hacking high amount of potential for all those people who are the only money maker for their family, the best thing bitcoin has done for the betterment of the economy is job opportunities and unemployment is reduced to huge extent because of bitcoin Jump to: