Can bitcoin improve the economy of a country? - page 93.

btcdiggingmaster

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Quote from: aakashsangwan on May 06, 2017, 12:42:38 PM

I think, yes Bitcoin can improve the economy of a country as most of the times the value of currencies decrease over time due to deflation.
But in case of bitcoin, it roughly doubles in 4 years, so switching to bitcoin is a boon to the people of the country.

I agree but completely shifting from own currency to bitcoin is not at all good because to the circulation of bitcoin is also very less, economic situation may be not good. So it wise make bitcoin as another payment option so that there may be a change in economic growth.

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Quote from: Xester on May 04, 2017, 11:45:43 PM

Quote from: April2017 on May 04, 2017, 11:28:25 PM

Yes true, with bitcoin then all the transaction becomes faster and cheaper, I'm sure if bitcoin applied legally then make improve the economy of a country.

Bitcoin has a big potential to improve ones economy. With bitcoin accessibility the payment method can be easily done and transactions will be much faster. If there are faster transactions then it will mean more income and profit and taxes coming from the business sector. Thus the economy will greatly improved if bitcoin will be accepted as a mode of payment. Let us see if bitcoin in Japan will have a big impact on its economy one year from now.

Not just only for its convinience in making transaction that's why bitcoin would be helpful in the economy but also it's a great opportunity to use it as an investment and mobile bank as we can also be secured of our money in bitcoin where in more convinience than government banks.

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Bitcoin has the potential to provide basic financial services such as providing loans to entrepreneurs. these loans will kick off small businesses that are the corner stone to any economy and provide jobs to the populace. This will greatly improve any economy

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Quote from: wahb on May 06, 2017, 05:44:14 PM

Quote from: jovs on May 06, 2017, 02:18:37 PM

Quote from: cramcram21 on May 04, 2017, 03:22:46 AM

I think it can help lessen the people who doesn't earn or the unemployed,
They can earn through this crypto currency and help their family and their selves .

I agree with you. It can really help improve the a economy of one's country. It will first start with people unemployed. But it will bemore great of bitcoin will be known by many people, so that they could practice and learn the use pf bitcoin. How it could affect and help a persons life and ofcourse an economy.

yes that is right if the people of a country will start earning bitcoin through different way so they can increase the capital of their country and throug this way bitcoin will certainly increase the economic condition of a country, but the most important thing is that people of that country must be skill full.

For a lot of countries, something as simple as a signature campaign can beat their average wage, but there are also the various economic considerations that have to be made since having a population that begins to neglect their normal jobs can easier start to bring a developing country down. Skilled workers should stick with what they do, and anyone skilled in online work should have the option, but having a flood of people to online work isn't a good thing.

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What I think is how bitcoin is able to change the middle to lower economic order in third world countries and some African countries whose economic level is still below established standards. They obviously can't reach the internet, and I think there is one gap that really helps them in today's Africa with ponzi method (onelife), although it's very helpful but this is still wrong and too risky for me.

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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?

Can be yes or not, the reason for yes with bitcoin, now very easy for us to transact with people from other countries maybe that's why you think bitcoin can change the economy but the reason for no, i think bitcoin price is not stable is the reason why bitcoin can't change economy.

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Quote from: Lady Coquet on May 11, 2017, 11:12:52 AM

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?

In my own personal point of view i couldn't say that bitcoin can improve the economy of any country first off i cannot consider bitcoin as a legitimate online business even though it's popular to other users or members that profits a lot on bitcoin cannot be mean helpful boosting an economic growth.

Those countries will be used bitcoin as an alternatives currency will take the advantages from it. Bitcoin is real dominance with the fiat currency. And it can be an opportunity for the countries has used it to be an alternative currency.

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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?

In my own personal point of view i couldn't say that bitcoin can improve the economy of any country first off i cannot consider bitcoin as a legitimate online business even though it's popular to other users or members that profits a lot on bitcoin cannot be mean helpful boosting an economic growth.

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Quote from: Kubra Dam on May 06, 2017, 02:38:29 PM

I do not understand the purpose of this topic. Why should bitcoin have such a mission or function? Interestingly, as the time passes, you guys are coming up with interesting questions and curiosities...

These doubts do creep up every now and then and that can be said to most of the threads that are coming up these days Grin

,there is no specific answer for these sort of question because of the obvious reason that there is no specific answer.
@OP if the government accepts and legalize bitcoin then people would start a business relating to bitcoin which would in turn good for the economy as well as offer jobs and in turn improve the economy of a country . Tongue

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Quote from: jovs on May 06, 2017, 02:18:37 PM

Quote from: cramcram21 on May 04, 2017, 03:22:46 AM

I think it can help lessen the people who doesn't earn or the unemployed,
They can earn through this crypto currency and help their family and their selves .

I agree with you. It can really help improve the a economy of one's country. It will first start with people unemployed. But it will bemore great of bitcoin will be known by many people, so that they could practice and learn the use pf bitcoin. How it could affect and help a persons life and ofcourse an economy.

yes that is right if the people of a country will start earning bitcoin through different way so they can increase the capital of their country and throug this way bitcoin will certainly increase the economic condition of a country, but the most important thing is that people of that country must be skill full.

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I guess it help since Bitcoin help elevate the life of every person, then having an improve of status of a country's citizen means the economy of a country is improving. A country do consist of its people and when people's stash are filled in and their status improved, then the economy of that country will improve too.

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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?

The reason is both for some people it is a life making they adopt bitcoin because they are sure that bitcoin will make them to earn more money while other join it because they find more users of bitcoin and they think that if they will also adopt bitcoin and will use it for their services then they will find convenience in their business with their clients while transacting the money.

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In my opinion bitcoin may improve the sittuation of country when there is a serious deflationary or an inflationary problem.

When there is a serious deflationary issue everything can be used as a money to help the lack of money in a circulation. The more easy it is to be used the better. In times of a serious inflation in a country, where money is worth close to the paper it was printed on, the bitcoin becomes invaluable as a big help and convenience.

Bitcoin providing banking infrastructure to some poor countries is another way how bitcoin can improve the economy of country.

Outside of a poor countries with a big financial issues bitcoin can help the sittuation of a people that are in bad economical sittuation by providing an easier way to earn tips.

Quote

I do not understand the purpose of this topic. Why should bitcoin have such a mission or function? Interestingly, as the time passes, you guys are coming up with interesting questions and curiosities...

Moral issues are always important. Unless you are a psychopath that is.

Kubra Dam

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I do not understand the purpose of this topic. Why should bitcoin have such a mission or function? Interestingly, as the time passes, you guys are coming up with interesting questions and curiosities...

jovs

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Quote from: cramcram21 on May 04, 2017, 03:22:46 AM

I think it can help lessen the people who doesn't earn or the unemployed,
They can earn through this crypto currency and help their family and their selves .

I agree with you. It can really help improve the a economy of one's country. It will first start with people unemployed. But it will bemore great of bitcoin will be known by many people, so that they could practice and learn the use pf bitcoin. How it could affect and help a persons life and ofcourse an economy.

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Quote from: Wesimon on May 05, 2017, 03:33:53 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?

That would be the very probable reason why some countries are accepting bitcoin now as a mode of payment. Can you imagine how much can a country earn from accepting bitcoin? By accepting bitcoin from other country is a big help for the economy of the receiving country. It is just like a citizen of country A works on country B then send the earned money to country A. That will surely reflect to the economy of a country and that analogy is somewhat similar in terms of accepting bitcoin.

The countriesitself can’t really accept bitcoin, because there is no international law for it, however the people in that country can easily improve the quality of life and their financial situation by using bitcoin, especially for the ones who their current local currency is low compared to the dollar, I personally found that bitcoin changed my whole finical situation.

aakashsangwan

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I think, yes Bitcoin can improve the economy of a country as most of the times the value of currencies decrease over time due to deflation.
But in case of bitcoin, it roughly doubles in 4 years, so switching to bitcoin is a boon to the people of the country.

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Quote from: fathur.aza on May 04, 2017, 11:57:16 PM

I support if bitcoin as a means of economic growth for a country because bitcoin is very high can change the economy.
And many countries have received bitcoin as a virtual currency. Grin

Well then the circumstances, and many users then most likely bitcoin will be accepted by the people and the country

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Quote from: April2017 on May 04, 2017, 11:28:25 PM

Yes true, with bitcoin then all the transaction becomes faster and cheaper, I'm sure if bitcoin applied legally then make improve the economy of a country.

That is not true. Transactions are actually a problem of bitcoin, because they start taking a lot of time to proceed and, as the price grows enormously, they become not that cheap at all. Bitcoin has its advantages above fiat but transaction is not one of them.
As for advantages, we can name it being safe from inflation, because there is a limited amount overall. Another advantage is that nobody can falsify bitcoin whereas with fiat this is quite a big problem.

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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?

Maybe it has the many changes in the economy because of the bitcoin. Our money will become data or computer dependent. Bitcoin can affect the world economy even if it does not become a currency that everyone uses or understands. Banks will bring down and also bankruptcy. They are always a good and bad effect in our industry.

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