This case, I must say that bitcoin can improve the economy of a country if they really into it. I mean, if that country is accepting bitcoin as their currency, and if it's really in-demand in their country, then there would be a chance that they can improve in the economy of their country.
i think if a country's government begins to legalize and adopt bitcoin. It will hurt them because many people will avoid taxes by hiding their wealth in bitcoin?
Topic: Can bitcoin improve the economy of a country? - page 86. (Read 52298 times)
This case, I must say that bitcoin can improve the economy of a country if they really into it. I mean, if that country is accepting bitcoin as their currency, and if it's really in-demand in their country, then there would be a chance that they can improve in the economy of their country.
I do not agree with that, you know there are many negative effects when a country adopts bitcoin. Although there are some positive effects. But adopting bitcoin will only make governments difficult to control their people's finances
In the current financial system, a lot of resources are dedicated to banking, and getting money from the central bank, as it passes through the banks until it reaches the end user. So getting money to a productive capacity isn't as efficient as it could be, as the banks become the middle man and take a piece for themselves.
Also wealth and income dictates the cost of debt. The cost of borrowing depends on level of affluence; the more wealthy the cheaper the debt.
From this perspective, Bitcoin would be more fair, as no one would get preference over anyone else. Whether that would actually improve an economy depends on how it's treated, but I think the potential is there. Removing banks from the equation and getting funds directly to a productive capacity would have some benefit to people as a whole, at the cost of the elite and large corporate interests
Also wealth and income dictates the cost of debt. The cost of borrowing depends on level of affluence; the more wealthy the cheaper the debt.
From this perspective, Bitcoin would be more fair, as no one would get preference over anyone else. Whether that would actually improve an economy depends on how it's treated, but I think the potential is there. Removing banks from the equation and getting funds directly to a productive capacity would have some benefit to people as a whole, at the cost of the elite and large corporate interests
It doesn't look like we are nearing that
I'd rather say that with the transaction fees skyrocketing we are in fact moving away from that. Banks might have become "a man in the middle" (though they might have always been like that from the start), but Bitcoin right now is a bigger middle man. Therefore, it can hardly facilitate hasslefree and free or low cost transfers of funds to production even if technically it can remove banks from the chain. The lesson to take away is that we need instant and cheap transactions to actually crowd out banks
Maybe, because bitcoin can give job to the other small people educated or not. bitcoin were gives opportunity to others to have a job and decrease the unemployed people in the world. That's why I think it can help our economy of 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?
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?
This case, I must say that bitcoin can improve the economy of a country if they really into it. I mean, if that country is accepting bitcoin as their currency, and if it's really in-demand in their country, then there would be a chance that they can improve in the economy of their country.
Precisely if a country adopts bitcoin in full, it will harm the country from all sides. Then there will be a lot of corruption going on. Because surely everyone will wash money more easily in bitcoinIt could happen, if the country, receive bitcoin as virtual currency, and many users bitcoin d 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?
It could happen, if the country, receive bitcoin as virtual currency, and many users bitcoin d 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?
Watching the situation in Ukraine and India about bitcoin legalization the first thought that came to my mind is that the country authorities wanted to get more taxes from new sources of income. I do not believe in the progressive views of the politicians, strict economic calculations only.
I believe bitcoin can improve countries economy and financially, bitcoin is a game changer and a lot of company starting to invest on it and rapidly increasing. Economically bitcoin can create big impact worldwide.
This case, I must say that bitcoin can improve the economy of a country if they really into it. I mean, if that country is accepting bitcoin as their currency, and if it's really in-demand in their country, then there would be a chance that they can improve in the economy of their country.
I agree with you that bitcoin will help the economy of a country if it accepts bitcoin and its legality and uses it as second currency after fiat currency
Of course a lot of useful activities that can be done with bitcoin in addition to its function as a means of payment transactions.and bitcoin also able to create good business opportunities such as trade, investment, mining or other
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?
Watching the situation in Ukraine and India about bitcoin legalization the first thought that came to my mind is that the country authorities wanted to get more taxes from new sources of income. I do not believe in the progressive views of the politicians, strict economic calculations only.
hero member
Activity: 560
Merit: 500
Crypterium - Digital Cryptobank with Credit Token
This case, I must say that bitcoin can improve the economy of a country if they really into it. I mean, if that country is accepting bitcoin as their currency, and if it's really in-demand in their country, then there would be a chance that they can improve in the economy of their country.
I think it can improve the country because simple many users of using bitcoin is the proof that can be improve the economy of a country. It helps to add more currency in a the country and can easily make a transact online that can send and receive bitcoin(money).
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?
Since it is world currency, it can find around the world so it will add in the market of every country.
In the current financial system, a lot of resources are dedicated to banking, and getting money from the central bank, as it passes through the banks until it reaches the end user. So getting money to a productive capacity isn't as efficient as it could be, as the banks become the middle man and take a piece for themselves.
Also wealth and income dictates the cost of debt. The cost of borrowing depends on level of affluence; the more wealthy the cheaper the debt.
From this perspective, Bitcoin would be more fair, as no one would get preference over anyone else. Whether that would actually improve an economy depends on how it's treated, but I think the potential is there. Removing banks from the equation and getting funds directly to a productive capacity would have some benefit to people as a whole, at the cost of the elite and large corporate interests
Also wealth and income dictates the cost of debt. The cost of borrowing depends on level of affluence; the more wealthy the cheaper the debt.
From this perspective, Bitcoin would be more fair, as no one would get preference over anyone else. Whether that would actually improve an economy depends on how it's treated, but I think the potential is there. Removing banks from the equation and getting funds directly to a productive capacity would have some benefit to people as a whole, at the cost of the elite and large corporate interests
It doesn't look like we are nearing that
I'd rather say that with the transaction fees skyrocketing we are in fact moving away from that. Banks might have become "a man in the middle" (though they might have always been like that from the start), but Bitcoin right now is a bigger middle man. Therefore, it can hardly facilitate hasslefree and free or low cost transfers of funds to production even if technically it can remove banks from the chain. The lesson to take away is that we need instant and cheap transactions to actually crowd out banks
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?
It certainly is the answer because bitcoin with a high value, can give a plus for the country because it will increase the state revenue, which will be used for development
In as much as bitcoin has been reported to have been used to facilitate crime which is not something new to everyone, the source of income it has been to quite a number of people cannot be undermined because whether yes or not, it has increased the economic worth if every individual even if it is in a little way and this will in that little way contribute to the economic development of the country as a whole.
Jump to: