Topic: Can bitcoin improve the economy of a country? - page 47. (Read 52298 times)
Bitcoin can improve the economy of the country. It can improve the country by using bitcoin in their daily lives like buying goods and paying it with the use of bitcoin. You can also pay bills. In that way you can make a rebate and as you earn more rebate by using your bitcoin, you can use it as another income. It serves as gratitude in bitcoin users. In that simple way, everyone can save and improve the economy.
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 risk to the economy of any country. But 1st of all will endure the US economic system. I am confident that before long we will see a actual war the us authorities towards bitcoin. We will want to have a whole lot of endurance and believe in to bitcoins to acquire this war.
At this moment I think it only happen in Japan since they accepted bitcoin as their currency can't imagine any other country .
if a nation find a way to create most affordable electric powered in the globe then indeed. otherwise bitcoin will not boost any countries economic climate
That statement just came out of the blue, you should explain it thoroughly next time. Why state the most affordable electric powered? So if no one have one, Bitcoin can't improve a country? Is that it?I think that's not right mate, since Bitcoin is not the only one going to be affected if the electricity would go down (very expensive). So government will take action for this because these Coins are just currency, it won't really have that much of an impact to the economy of a country.
Some states are accepting bitcoin even in exchange for their citizenship.
http://uk.businessinsider.com/vanuatu-accepts-bitcoin-for-citizenship-payment-2017-10
Anyway, generally, everything that can increase country's payment balance (lessen the debt) or GDP improves the economy.
Bitcoin itself can really help countries with underdeveloped financial sphere — no reliable banking sector, volatile national currency, etc. Also, it can become a new globalization way for countries under sanctions like Cuba or Iran.
http://uk.businessinsider.com/vanuatu-accepts-bitcoin-for-citizenship-payment-2017-10
Anyway, generally, everything that can increase country's payment balance (lessen the debt) or GDP improves the economy.
Bitcoin itself can really help countries with underdeveloped financial sphere — no reliable banking sector, volatile national currency, etc. Also, it can become a new globalization way for countries under sanctions like Cuba or Iran.
Venezuela is going to be first to try solving economic problems with bitcoin
https://fee.org/articles/the-first-bitcoinization-of-a-sovereign-state-is-happening-now/
Some states are accepting bitcoin even in exchange for their citizenship.
http://uk.businessinsider.com/vanuatu-accepts-bitcoin-for-citizenship-payment-2017-10
Anyway, generally, everything that can increase country's payment balance (lessen the debt) or GDP improves the economy.
Bitcoin itself can really help countries with underdeveloped financial sphere — no reliable banking sector, volatile national currency, etc. Also, it can become a new globalization way for countries under sanctions like Cuba or Iran.
http://uk.businessinsider.com/vanuatu-accepts-bitcoin-for-citizenship-payment-2017-10
Anyway, generally, everything that can increase country's payment balance (lessen the debt) or GDP improves the economy.
Bitcoin itself can really help countries with underdeveloped financial sphere — no reliable banking sector, volatile national currency, etc. Also, it can become a new globalization way for countries under sanctions like Cuba or Iran.
Bitcoin in a country can be a double-edged sword. on the one hand can increase the economy and purchasing power of individuals or groups then they also help to move the wheels of economy more. on the other hand the government doesn’t get income from tax which becomes one of their income sources moreover government can’t earn tax from bitcoin transaction.
Governments need to get smaller, there is no way around that, governments are not doing anything to stop the bureaucracy when you could supplant millions of those jobs with computers and charge less taxes, so if they are not willing to that on their own bitcoin is going to do that for them, so I am not sorry at all if governments need to be smaller as a consequence of bitcoin acceptance through the world.
if a country uncover a way to create least expensive electric in the entire world then sure. or else bitcoin will not boost any nations around the world economic system
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 nation find a way to create most affordable electric powered in the globe then indeed. otherwise bitcoin will not boost any countries economic climate
Bitcoin can not change the economy of the country. It's just money that you can pay off or earn it. To improve the economy, it is necessary to take action, and not to introduce a new currency.
A solid currency can in fact make a country or even the world more prosperous, when gold was used as the standard around the world we saw one of the biggest growth in investments in the world, because people know that their currency was stable, now that trade is based on the dollar and those dollar keep being printed as if they could print them forever governments are trying to get rid of their dollars as fast as possible.If it were so, we would still be on gold now
But we ain't, and it is not someone's whimsy. You are certainly correct that printing excessive amounts of fiat helps government and those powerful people to become wealthier while making ordinary people poorer. But this is a heavy abuse of the power of fiat money. Fiat money has an advantage before gold (and cryptocurrencies, for that matter) in that it can be created as well as destroyed according to the requirements and needs of the economy. This is not the case with Bitcoin and the rest of the pack
I was talking about printing excessive amounts of fiat which is certainly bad
And which I made clear right at the beginning of my post. In fact, in the modern fiat system the government of a country or its central bank doesn't need to print anything at all. Just like I said, money can be created and destroyed as required by the economy itself. If the economy expands, banks loan out more money, and thus more money is created. Conversely, when the economy shrinks, more loans are paid paid back (or written off in case of the borrower's default), so the amount of money in the economy diminishes. That's why the modern fiat money is called credit money since it's created and destroyed via bank credit
Yes it is possible, Bitcoin can improve the country depending on its government if they were gonna use it for good. It was also a great way to buy goods through online using virtual money but still everything will be depending on the government decisions of your country.
Definitely it depends on the government whether they are investing in bitcoins or not. Most of the governments have started investing in bitcoins to support their country’s economy with the help of bitcoins by trading them with altcoins and other currencies during pump period.
Its up to the leader if he wanted to help people focusing on bitcoins. It because bitcoin also increase unemployment. Bitcoins are just roller coaster to people who buy and sell bitcoins. Somehow on other areas bitcoin increased country's global exchange its because they used now internet in buying goods.
Yes,Bitcoin can help local economics and spur more growth in the global market. It will also an excellent opportunity for unemployed people who have free time to study bitcoin.We just hope that political leads are not retarded enough not to see the Bitcoin vision.
Bitcoin can not improve the country's economy simply by its existence, it has not yet succeeded in any currency. The government can improve the economy.
Yes it is possible, Bitcoin can improve the country depending on its government if they were gonna use it for good. It was also a great way to buy goods through online using virtual money but still everything will be depending on the government decisions of your country.
Definitely it depends on the government whether they are investing in bitcoins or not. Most of the governments have started investing in bitcoins to support their country’s economy with the help of bitcoins by trading them with altcoins and other currencies during pump period. I don't think so.. I think bitcoin not improve the economy of a country but bitcoin help the economy the people who know about that.. bitcoin is really helpful for bitcoin user, but in my country too many people not to know about bitcoin, and the government has not recognized bitcoin as a vitrual currency..
I'll take the opposite side that bitcoin can help to improve the economy of a country in a case that where bitcoin has been treated as a remittance. And for a country where there are so many remittance it is just making the economy high again. This mainly gives a country to have another income from the money of the people outside the country so for me it's always a yes for bitcoin to improve a country's economy.
Yes it can but it depends how you understand improvement.Today many countries accept bitcoin as a virtual currency. I think it can improve the distribution of wealth among the people,which in a way improves the economy also it can improve and harm a country's economy depends on the people to know how to take advantage of its benefits.
I think yes because if bitcoin can provide income to those people who does not have any regular job they can have money to finance their expenses and so they can buy the things they need. If people will have a good status financially then the economy will surely grow. Bitcoin is for everyone that is why even very old person can earn bitcoin and became financially stable
Jump to: