Can bitcoin improve the economy of a country? - page 22.

bittybits

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Quote from: prass tyo on May 03, 2017, 12:19:15 PM

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?

What I could say is that it'll be able to help individual people to become more financially stable depending on what country they are in as long as the currency difference of their country is below of USD, in that aspect those people who're gaining more bitcoin steadily more will earn more of what they've invested in and will be richer than the average not knowing/ investing on bitcoin in their country. As for the economic growth of the country, what I think is that it will not be affected by bitcoin as it is not handled by the government right? unlike our physical currency that makes the country go economically stable or not.

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Quote from: prass tyo on May 03, 2017, 12:19:15 PM

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?

I think they accept bitcoin because they think that bitcoin can change the country's economy. It is not imppossible that bitcoin can change the economy of a country because it already change the lives of its users. The change will happen if the citizens of this country will adopt the nature of bitcoin. If there would be an increase of users in bitcoin, the expected change in country's economy would happen anytime.

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Quote from: goku1525 on November 26, 2017, 12:32:12 AM

Quote from: Bonakid on November 25, 2017, 11:57:39 PM

Right,if many people would go through bitcoin it will improve our economy always first problem on poverty.It will help them financially give them an extra income and job to those who are jobless.It will reduce unemployment or I could say poverty on every country if they will work hard on bitcoin.

Yes it will, it is a big help to those people who wasn't find a job yet,it can be an alternative source of income and a good learning system that you may gain a lot of experience about trading and investing.. There are many who have even left their jobs because they are more get income with bitcoins rather than their regular jobs.

but we still have to be careful, because until now the government has not legalized bitcoin. and hopefully bad things will not happen to bitcoin in the future. because bitcoin can be a tool for money laundering by criminals. so hopefully the bitcoin stays on the right track, and the price goes up so it can be profitable for all of us.

goku1525

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Quote from: Bonakid on November 25, 2017, 11:57:39 PM

Right,if many people would go through bitcoin it will improve our economy always first problem on poverty.It will help them financially give them an extra income and job to those who are jobless.It will reduce unemployment or I could say poverty on every country if they will work hard on bitcoin.

Yes it will, it is a big help to those people who wasn't find a job yet,it can be an alternative source of income and a good learning system that you may gain a lot of experience about trading and investing.. There are many who have even left their jobs because they are more get income with bitcoins rather than their regular jobs.

Bonakid

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Right,if many people would go through bitcoin it will improve our economy always first problem on poverty.It will help them financially give them an extra income and job to those who are jobless.It will reduce unemployment or I could say poverty on every country if they will work hard on bitcoin.

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Quote from: Ad Baculum on November 25, 2017, 11:32:14 PM

Quote from: prass tyo on May 03, 2017, 12:19:15 PM

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?

I think it may through those people who was able to earn from it and through the banks that serves as the pathway of bitcoin to fiat. You may also say that it affects the economy of a country by those people who are earning from bitcoin and spends it a lot for some few stuffs. As they but expensive items the taxes of those will surely be the one to provide help for the whole nation.

Yes, it can improve the countries economies because many have getting richer if the users in your country are investors in a digital currency, plus your government are allowing and supported the virtual currencies so expecting your economy would much progressive in a total year collection.

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Quote from: prass tyo on May 03, 2017, 12:19:15 PM

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?

I think it may through those people who was able to earn from it and through the banks that serves as the pathway of bitcoin to fiat. You may also say that it affects the economy of a country by those people who are earning from bitcoin and spends it a lot for some few stuffs. As they but expensive items the taxes of those will surely be the one to provide help for the whole nation.

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Quote from: danielnamit on November 25, 2017, 11:07:58 PM

Yes since bitcoin talks about lot of money and a bitcoin costs more than 450,000 in peso as of now.

Many are now depend on bitcoin for their monthly salary.They are invested in bitcoin and hold it for long to sell.If they inverse in monthly basis and sell it atleast after a month means,they will get huge payout sure.I quit my real job and start to do trading of bitcoin and earned a lot from it.

GalahadSeika

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Bitcoin can have advantages and disadvantages to the economy of a country because it can either destroy or build a country in terms of economy. What you said is both true that bitcoin can change the country's economy and also because the country has many bitcoin users just picture this simple example if there are many users of bitcoin money with circulate via online banking in the country thus your country's economy will rise. Sooner or later almost everyone will accept cryptocurrency. The advantages of bitcoin is that you are the one controlling your money and one disadvantages that i can foresee is that it can put local banks out of business in the near future because everyone will convert their material money into digital money plus they will profit more unlike in local bank.

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as i observe in my country there are still lots of people suffer from poverty so i don't think that bitcoin has help the economy of our country in my observation bitcoin helped individual who are have knowledge or idea of bitcoin there are still lots of people who don't believe bitcoin and not well informed

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Yes since bitcoin talks about lot of money and a bitcoin costs more than 450,000 in peso as of now.

bestbiz9

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Yes of course, if properly utilized bitcoin certainly can be useful to improve the economic life of a country. remember, it is time now to move to a decentralized system as it proves to overcome inflation.

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Quote from: prass tyo on May 03, 2017, 12:19:15 PM

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, by tax collection. Remittances, and other payments services that has government tax that helps the countries economy.

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Quote from: RKSummer on November 25, 2017, 05:32:28 AM

Can bitcoin improve the economy of the country??

Yeah, it is possible to improve the economy of the country if everybody is knowledgeable about bitcoin.But the question is bitcoin legal in your country?If it is YES, it could be a big help to improve the economy of one country.Bitcoin is an alternative source of income for those who are unemployed.And additional source of income for those who are employed.If everyone is knowledgeable about it, everyone can earn money to sustain for their daily needs.

Also, if there would be a lot of stores who will start to accept bitcoin as mode of payment, then it would be a great help to improve the economy of one's country. And I guess, if bitcoin will be legalized and the government will start to put a tax on bitcoin like in every transactions, then I'm pretty sure it will help improve the economy. If there would be a lot of bitcoin users in each country, then there would be more taxes they can collect.

And of course, those things will only happen if the governments starts to open their eyes about bitcoin and the benefits it can bring to the country.

RKSummer

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Can bitcoin improve the economy of the country??

Yeah, it is possible to improve the economy of the country if everybody is knowledgeable about bitcoin.But the question is bitcoin legal in your country?If it is YES, it could be a big help to improve the economy of one country.Bitcoin is an alternative source of income for those who are unemployed.And additional source of income for those who are employed.If everyone is knowledgeable about it, everyone can earn money to sustain for their daily needs.

Tegin92

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Maybe bitcoin is the right answer to overcome the economy of the country, because the state is not dependent on tax revenues alone and so on, and bitcoin will guide a country will be more advanced, if the developed countries, the people will also prosper .. To be sure bitcoin will give its own advantages for countries that use them

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Quote from: yvesp110 on November 22, 2017, 02:22:03 PM

Quote from: Rufsilf on November 19, 2017, 10:45:15 AM

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.

Bitcoin will make the way for itself because the bitcoin will be very high and a lot of the countries are investing the bitcoin and they are supporting it, for me it is the point and the investing power that will decide that how much bitcoin you will invest and how much bitcoin you will save for the long time, now the bitcoin is getting famous and the bitcoin is easy to earn by investing the small in the bitcoin.

Easy? No, I do not think it is easy to earn Bitcoin with investment. It can be good for those who have knowledge, experience and good traders. But for newbie, I do not think them can earn good profits through trading easily as your said. They will need to spend something to receive the experience and become the professional traders. That is their journey.

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Quote from: chineseprancing on November 23, 2017, 02:13:05 AM

Quote from: yvesp110 on November 22, 2017, 02:22:03 PM

Quote from: Rufsilf on November 19, 2017, 10:45:15 AM

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.

Bitcoin will make the way for itself because the bitcoin will be very high and a lot of the countries are investing the bitcoin and they are supporting it, for me it is the point and the investing power that will decide that how much bitcoin you will invest and how much bitcoin you will save for the long time, now the bitcoin is getting famous and the bitcoin is easy to earn by investing the small in the bitcoin.

Bitcoin should help to improve economy of each country, if you know most of the jobless people can get work thru help of bitcoin. Moreover in our country most of the people are already using bitcoin, so it means that they were already aware with the advantage and disadvantage of this crypto currency in the whole.

Therefore, due to good movement of this coin in the whole world exchange of bitcoin versus dollars were largely increase that's why most of the people and investors are attract to increase the numbers of their investment to this crypto. In addition some capitalist are being wise holding their bitcoin amount to their wallet because one wrong move and they will earned lost on their part.

That is true but i personally would say that bitcoin can improve the economy of a country if everyone in that country starts to accept bitcoin and starts to earn or even invest in it this way everyone would have a great income form bitcoin and the economy will go higher.

Pixyoxx

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Any country using or accepting bitcoin is not doing so because of the high value bitcoin has. The value that anything holds is very volatile and can change any time. What these countries are actually seeing us the large user base that is involved with bitcoins. The get a mass of people who will be using and trading with bitcoins which d anyways better for their economy. Also this digital currency is veey secure compared to others. So taking everything into consideration, the huge user base and all the security perks attributed with bitcoins is what makes countries accept it.

chineseprancing

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Quote from: yvesp110 on November 22, 2017, 02:22:03 PM

Quote from: Rufsilf on November 19, 2017, 10:45:15 AM

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.

Bitcoin will make the way for itself because the bitcoin will be very high and a lot of the countries are investing the bitcoin and they are supporting it, for me it is the point and the investing power that will decide that how much bitcoin you will invest and how much bitcoin you will save for the long time, now the bitcoin is getting famous and the bitcoin is easy to earn by investing the small in the bitcoin.

Bitcoin should help to improve economy of each country, if you know most of the jobless people can get work thru help of bitcoin. Moreover in our country most of the people are already using bitcoin, so it means that they were already aware with the advantage and disadvantage of this crypto currency in the whole.

Therefore, due to good movement of this coin in the whole world exchange of bitcoin versus dollars were largely increase that's why most of the people and investors are attract to increase the numbers of their investment to this crypto. In addition some capitalist are being wise holding their bitcoin amount to their wallet because one wrong move and they will earned lost on their part.

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