Topic: Can bitcoin improve the economy of a country? - page 78. (Read 52298 times)
Bitcoin helping the economy of the entire state, doubt it and probably not. But helping the economic situation of an individual, highly probably. Bitcoin helped me with the household economy for quite something.
Since exchanges are in that country and they interchange monies it will eventually influence that economy because there will be foreign influx from wallets all over the world for them to cash out in their local currency thereby influencing it.
Don't really think so. How can it help as bitcoin is just virtual and it is being traded over the internet. Money is not being used for nations development. The economy completely depends on how people are investing their taxes in the government and its project. Bitcoin is more or less being used by person to person for their own growth. This wouldn't even move leaf of a tree. Lol. Anyway the question is good and it must planned properly as the currency itself is decentralised and don't contribute in any economy
Bitcoin in its present state can hardly help the economy
It may in fact even hurt it (though this obviously depends on specific use cases). But we should still agree that Bitcoin, if anything, is a good experiment or test in respect to how currencies may evolve in the future. And I can't agree that being virtual (i.e. existing entirely in Internet or cyberspace) necessarily means useless. Most transactions are electronic anyway nowadays, so if something exists only "virtually", it can still be of great help if it really helps people with making purchases, finding jobs, and other activities or directly used as a payment for work done (e.g. signature campaigns here)
Bitcoin will change the economy of the country on the grounds that especially the government must recognize bitcoin and after that citizens must join the bitcoin. I am sure the country will grow rapidly.
but i think it is already helping a country in improving the economy of a country. in fact bitcoin is providing opportunities to the people to earn money from trading, advertisement and from so many other sources and in this way it is providing opportunities to people to make money and in this way they are improving the economy of their country. Bitcoin can improve a country's economy even if it is just a way to pay, or another currency to use which I think would not help in improving economy especially now that sometimes it can aid on tax evasion. Despite that, many people can earn big on bitcoins via investments but it can really bring harm to those remittance services because it is easier to send money with bitcoins rather than using remittance which is a source of tax collections of the government but still bitcoin can improve people's lives.
I also agree that it could. But the question is how a specific country will manage it? Because bitcoin is new for most of the people so the government may not legalized it because of the mass and anonymous transaction. It may be a huge factor on investment , cause the price of bitcoin is developing in depends on the sudden move on the market on its stock. But for me bitcoin has more boundaries and if the government will implement bitcoin on a more great way it can not just improve ones economy but the future itself.
Don't really think so. How can it help as bitcoin is just virtual and it is being traded over the internet. Money is not being used for nations development. The economy completely depends on how people are investing their taxes in the government and its project. Bitcoin is more or less being used by person to person for their own growth. This wouldn't even move leaf of a tree. Lol. Anyway the question is good and it must planned properly as the currency itself is decentralised and don't contribute in any economy.
This is so irrelevant. Why shall bitcoin improve the economic conditions of a region?
I don't see your point in asking this. Bitcoin is only a financial tool.
Of course bitcoin can improve the economy condition because it give people chance to get second resource. It also can move the wealth inside the countryI don't see your point in asking this. Bitcoin is only a financial tool.
Yes of course, with more than marketcap 100 billion USD, then the bitcoin is very calculated, even those figures are larger than the gross income of a third world country (Africa, Asia, and more).
Africa and Asia are not 3rd world countries.
Also I doubt that ou can consider South Africa or Japan 3rd world.
Secondary your comparing apples with donkeys.
It makes no sense comparing the annual gdp of a country with the bitcoin market cap.
To make a real comparison , although even this one is a bit far fetched you would have to consider the money supply of that country.
Yes of course, make the last official State legal bitcoin provides convenience and subsidies for mining bitcoin, then the economy will improve. If we compared to coal mining, mining bitcoin more profitable.
Oh , bright idea.
Lets provide subsidies for mining.
And people were so angry when the governments were bailing out banks.
And btw, what kind of shovel you use to mine bitcoins? The same one that you use for coal?
I have the impression you don;t have a clue about how mining works.
This is so irrelevant. Why shall bitcoin improve the economic conditions of a region?
I don't see your point in asking this. Bitcoin is only a financial tool.
Of course bitcoin can improve the economy condition because it give people chance to get second resource. It also can move the wealth inside the countryI don't see your point in asking this. Bitcoin is only a financial tool.
It is still too early to measure the effects on the economy of a country and it is difficult to answer, but who improves the economy of a country are their governments and their people only, BTC certainly brings opportunities for some peoples to generate income based on their efforts and that is something that must be considered.
This is so irrelevant. Why shall bitcoin improve the economic conditions of a region?
I don't see your point in asking this. Bitcoin is only a financial tool.
Of course bitcoin can improve the economy condition because it give people chance to get second resource. It also can move the wealth inside the countryI don't see your point in asking this. Bitcoin is only a financial tool.
Now this is not yet so popular to use it on a large scale in most of the countries. I think that after some time maybe few years this situation will be changed.
Even if the situation changes, I doubt that bitcoin can improve the economy of a country because as you can see, people using bitcoin only want to hide the government so that they can not collect tax, which will even make the country poorerThis is a common misconception
Bitcoin may or may not make a country richer (that remains to be seen, obviously), but taxes don't make a country richer, by any means possible. Basically, they only redistribute some part of the wealth created but they don't create this wealth in the first place (which is what actually makes countries richer). Moreover, it could be claimed that taxes may in fact make a country poorer since the government which collects these taxes is likely the least efficient manager out there
Bitcoin is a neat currency and makes some transactions cheaper such as international remittances and some types of bank transfers but it doesn't add anything more to the economy even if it enriches certain individuals.
This is so irrelevant. Why shall bitcoin improve the economic conditions of a region?
I don't see your point in asking this. Bitcoin is only a financial tool.
Of course bitcoin can improve the economy condition because it give people chance to get second resource. It also can move the wealth inside the countryI don't see your point in asking this. Bitcoin is only a financial tool.
It would take years for bitcoin to improve any country's economy. Knowing the fact that bitcoin 's price fluctuating up and down ,it would be a major risk for any country to accept bitcoin because of the recession all over the world,also not all countries have many bitcoin users so that might not be the reason to accept bitcoin as a currency.Finally,Bitcoin's price might be high but its stability is what matters to an country's economy.
This is so irrelevant. Why shall bitcoin improve the economic conditions of a region?
I don't see your point in asking this. Bitcoin is only a financial tool.
Of course bitcoin can improve the economy condition because it give people chance to get second resource. It also can move the wealth inside the countryI don't see your point in asking this. Bitcoin is only a financial tool.
If have a rule can tax user use Bitcoin in a country I think it can improve the economy this country 
, but do not have anyone can tax it and do not have user Bitcoin want that because many user use Bitcoin want do not pay taxes
, but do not have anyone can tax it and do not have user Bitcoin want that because many user use Bitcoin want do not pay taxes 
Yes of course, with more than marketcap 100 billion USD, then the bitcoin is very calculated, even those figures are larger than the gross income of a third world country (Africa, Asia, and more).
Bitcoin will change the economy of the country on the grounds that especially the government must recognize bitcoin and after that citizens must join the bitcoin. I am sure the country will grow rapidly.
Yes of course, make the last official State legal bitcoin provides convenience and subsidies for mining bitcoin, then the economy will improve. If we compared to coal mining, mining bitcoin more profitable.
Bitcoin is both a currency and an asset, it doesn't actually reduce efficiency through which is what would improve the economy of a country. The only way is if a specific country disproportionately has a large amount of bitcoin relative to its population compared to other countries and its price went up then you would at some point see flows of money going to that country and improving the economy. This is however an unlikely scenario.
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