Topic: Can bitcoin improve the economy of a country? - page 75. (Read 52289 times)
Bitcoin can not improve the economy. Bitcoin can stimulate consumer demand, but it is a very small percentage of the total state market. If this percentage starts to increase then people can choose for themselves a job online and it will lead to the fact that no one will work in the factories. What will happen to the economy of the state?
It can. It will cause some impact and will surely sway influence to the people. People will see this new alternative that is much better what the public and private sectors of money business can provide. They will see a system that is mostly free and will not likely rip them off so the government and private banks will have to compete with them. They will be forced to lower their fees and change their security to some extent to provide security to the people that people will be comfortable with. If ever Bitcoin may not improve the economy then it can surely influence it.
In as much as bitcoin has it's advantage, it is not free from disadvantages equally. I believe that the advent of Bitcoin or crypto currency can bring about improvement in the economies of countries like the improvement in the wealth of individuals in the country which will invariably affects the economy of the country positively . Although, bitcoin can equally course a problem for the country by way of increase in capital flight from one country to another or from underdeveloped to developed nation's in the world by corrupt individuals or organizations.
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?
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?
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 can not repair a country but bitcoin can improve one's economy.
Because bitcoin is a risky trade I think the state will not invest its money into bitcoin
If you move money, you are helping the system that it is moving within. Spending money creates money in the sense that people and services that had not been in use prior to that transaction are now moving, in a sense.
Countries that are corrupt does not benefit this, because they could not get any tax from the users. It benefit most the people for it allows them to earn money outside the system through selling their knowledge and time to the internet which allows them to get paid.
True, I think if a country has a high level of corruption. Perhaps bitcoin adoption would have a negative impact on the country's economy. Because of course corruptors will feel facilitated to do money laundering, corruption, etc where bitcoin is very safe to do so Not bitcoin per se but the way it is used. In countries with a high dollar exchange, someone who manage to buy and hold even a few bits would get some fiat profit which can then be used for building a business, etc.
Also, if bitcoin facilitates movement of money from richer to poorer countries, than we can say bitcoin did help. Maybe people can freelance and get paid in bitcoins, maybe remittances or donations can be sent as bitcoins, etc.
As my mate said it can be help like employer doing work though internet and getting pay though bitcoin. If people getting pay in bitcoin then it can easily effect positively the economy, people will start converting that bitcoin into local money. Where the use of money will increase government will decrease the prices or print too much money. So like that.Also, if bitcoin facilitates movement of money from richer to poorer countries, than we can say bitcoin did help. Maybe people can freelance and get paid in bitcoins, maybe remittances or donations can be sent as bitcoins, etc.
Employers can and do already pay for online work through traditional banking methods, they don't need bitcoin for this so I don't see how this is an argument on how bitcoin could improve the economy.
Not bitcoin per se but the way it is used. In countries with a high dollar exchange, someone who manage to buy and hold even a few bits would get some fiat profit which can then be used for building a business, etc.
Also, if bitcoin facilitates movement of money from richer to poorer countries, than we can say bitcoin did help. Maybe people can freelance and get paid in bitcoins, maybe remittances or donations can be sent as bitcoins, etc.
As my mate said it can be help like employer doing work though internet and getting pay though bitcoin. If people getting pay in bitcoin then it can easily effect positively the economy, people will start converting that bitcoin into local money. Where the use of money will increase government will decrease the prices or print too much money. So like that. Also, if bitcoin facilitates movement of money from richer to poorer countries, than we can say bitcoin did help. Maybe people can freelance and get paid in bitcoins, maybe remittances or donations can be sent as bitcoins, etc.
Biggest problem for this in most countries would be tax, and how to collect it. Will they be greedy or they will be normal and use same amount that exchanges do with money transfer. This is something that need to get in debate when this is good for both sides then everything can be good.
I think it is a great way to stop corruption. And as you are saying that what will happen for the exchange rate, right? All will be in the people's hand. The exchanges rate will be the evidence. So that, the government cannot cheat to people. They don't have any chance to be greedy also.
If Bitcoin is going to the world's currency, then it surely can improve the economy of a country as well as the whole world. The people should use it more and make it the world's currency. Thus, a country's economy will improve from my perception.
Countries that are corrupt does not benefit this, because they could not get any tax from the users. It benefit most the people for it allows them to earn money outside the system through selling their knowledge and time to the internet which allows them to get paid.
Bitcoin could not be a big help for a country, the Government has no benefit at all. But bitcoin could help people earn money which could help someone to potentially get rich. it can improve the distribution of wealth among the people, which in a way improves the economy. Countries that are corrupt does not benefit this, because they could not get any tax from the users. It benefit most the people for it allows them to ear money outside the system through selling their knowledge and time to the internet which allows them to get paid.
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?
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?
Not bitcoin per se but the way it is used. In countries with a high dollar exchange, someone who manage to buy and hold even a few bits would get some fiat profit which can then be used for building a business, etc.
Also, if bitcoin facilitates movement of money from richer to poorer countries, than we can say bitcoin did help. Maybe people can freelance and get paid in bitcoins, maybe remittances or donations can be sent as bitcoins, etc.
Also, if bitcoin facilitates movement of money from richer to poorer countries, than we can say bitcoin did help. Maybe people can freelance and get paid in bitcoins, maybe remittances or donations can be sent as bitcoins, etc.
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?
As bitcoin bypasses many fiat barriers, It can transform the least developed countries economy by bringing is unofficial foreign investment and the people in the rich countries benefits a tax-less profit.
And both sides of the story spell disaster for the economy.
Money flowing without control out of the country and rich people avoiding taxes.
Not so good for an economy. Just look what happens to other countries when money started flowing out.
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?
Alliance with a nation, building the future... quit smoking.
Bitcoin is a currency it's not its job to fly high the jolly roger or the star and crisps.
All that is the job of the people.
If the country lacks education bitcoin won;t be able to solve their 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?
As bitcoin bypasses many fiat barriers, It can transform the least developed countries economy by bringing is unofficial foreign investment and the people in the rich countries benefits a tax-less profit.
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?
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?
Biggest problem for this in most countries would be tax, and how to collect it. Will they be greedy or they will be normal and use same amount that exchanges do with money transfer. This is something that need to get in debate when this is good for both sides then everything can be good.
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