Topic: Can bitcoin improve the economy of a country? - page 95. (Read 52298 times)

Yes, bitcoin can change the economy of a country but bitcoin can also make the economy of a country fluctuate and happen situations such as corruption, money laundering, etc. To countries with backward economies, Bitcoin can create more jobs, increase income and improve the lives of people living in that country but with developed countries, bitcoin as an opportunity for money laundering and corruption, a lot of people in these countries use Bitcoin to avoid tax and causes affecting the economy

It´s for the second reason, it´s because the levels of adoption are increasing. There are more users and more companies focusing in bitcoin and virtual currencies. Even banks are working on this, forming consortiums to study blockchain technology (maybe they are more interested in blockchain that in bitcoin). We are living an era of transformation and there are governments that are seeing this and want to adapt as soon as possible because they see that bitcoin and cryptocoins are gaining users by leaps and bounds.

On the other hand it is clear that they also think that adapting to this may be good for their economy. Its intention is also to attract companies, promote technological development and be at the forefront of technology. This in the end becomes money and improvement of the economy of the country.

There is another concept that has been mentioned in this topic that is very interesting, about countries in debt that need funding. These countries, when they need money to meet their spending, have to ask other countries, the IMF or the European Central Bank to give some examples. When these countries obtain the borrowed money they are subject to very high interests and to political conditions that often are detrimental to their interests.

In a country completely adapted to bitcoin, where the currency were used daily, these governments could, hypothetically, go to the market to obtain funding in bitcoin to face their expenses with bitcoin, payment of employee payrolls, debts, etc. Then these people could also go to the market to sell their bitcoins. In this way the goverment would avoid facing interests, it is true that they would face the risk of a rapid price decrease but I think the option could be quite interesting for them.

Yes, bitcoin can change the economy of the country, because the currency is more and more used to the needs. This depends on the country itself does bitcoin is capable of in the official currency, so being able to change the economy of the community.

I would say that bitcoin can improve not the economy of the country, but the financial situation of the inhabitants of the country as an additional income.

It actually doesn't matter if you can afford to pay the tax or not since the government is forcing you to do so. Most of the time, the tax is hidden. It's hidden on the foods that you buy/eat. It's hidden on every grocery and every expensive purchase that you've done. Look at your receipt and you'll see that 12% tax. You also have to pay income tax and if you're a government worker, the tax is already deducted before you receive your money.

Bitcoin can improve the economy of a country in a way that bitcoin allows the individuals to make money even when they don't have a degree. They simply have to study bitcoin and learn the methods of making money from it.

YES bitcoin could help improve the economy of the country because it would mean learning new skills which could not only benefit the individual but the country too as they would now afford to pay their taxes to help develop it ,and the country can adopt the cryptocurrency technology to improve on efficiency, promote accountability of resources and improve on financial management.

Some country forbid bitcoin usage for security reason since we know that bitcoin is anonymous and can be use for terorism activity.
Learning bitcoin technical is not easy but it's can be use for improving financial for who use it

Lol can you see that bitcoin prices will increase and of course the fee will also increase along with the higher prices. Moreover the fee will be increasingly going forward. A small fee will take longer to confirm

Bitcoin can improve the economy of a country and also it can harm so I think vice versa. Just know how to take advantage of it's profit though people not that fully recognized this cryptocurrency, it can be a backup for unemployed people who have time to study bitcoin and have better income. Bitcoin has a huge prospective that other countries are not noticing and I think they will regret it subsequently.

Yes true, with bitcoin everything getting better and easy that I would take the conclusion that the existence of the bitcoin can improve the economy. a simple example is a transaction without having to use a specific currency.

Yes for sure, bitcoin will gonna improve economy of each country that will accept it as their legal money, because bitcoin will bring more investors which will make it growing economy.

Bitcoin economy is continues grow and become popular in our market. Many investor to other country use to business this because it is worldwide currency so they can invest bitcoin in country that has a good economies.
And why the user of bitcoin try and try to earn this? Because of the price, a not stable price it gives an excitement to every one. Trading is a part of bitcoin and it another reason why people used this to earn profit.

I think it is because the country has many bitcoin users already. By giving a time and more learning about bitcoin with hard working it helps your life to survive in hindrace in our life. And also many investor around the world used this so user who earn bitcoin has wide source of income.

Can bitcoin improve the economy of a country?

I think yes. Because bitcoin is so popular in this era of technology. Bitcoin has been able to improve economy of thousands or perhaps millions people, of course country can.

To accept bitcoin as the legal currency by the countries government is regardless of the factor that what they think about the bitcoin users ( how many users and how many are making earning and how many are lossing ) .
Here the main reason to accept bitcoin for use Legelly Because the main question for the government is that why the people are using bitcoin , Because they are getting profit  . & Why we accept bitcoin Because this is the solution of the secret payment , in the bitcoin Everything is open anyone can see transaction of the other due to these reasons few government of countries start accepting bitcoin legally .

I can’t see any reason why it can’t help the economy for as long as every transaction would be taxed. If stores that accept bitcoin has a corresponding charge for it, that would somehow end up in goverment’s coffers and if collections are big enough, it is sure to make the governments create policies to incentivize using crypto currencies.

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.

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.

Bitcoin is not only offering a solution for various currency but through the blockchain system, a lot of the financial institution can take a lot of advantage from using its technology.

I mean, The technology will be increasing effectivity, efficiency, accuracy, and production.

As you said it was offering a unique opportunity. It can be reflected from the latest news on japan.

A lot of institution and companies try to take an opportunity on the crypto business.

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.

One aspect of Bitcoin which I think can has impact upon improvement of country's economy is 'Control on inflation'. With regular increase in price, bitcoin is capable enough to rectify the impact of inflation and which is good sign for economy.