Can Bitcoin really stabilize any country's economy level?

TrevorS

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If the country has certain sources of cheap energy, then it would be nice to establish a cryptocurrency mining farm. This would be a good reinforcement for the financial system of the state. In addition, in any case, investments strengthen the cryptocurrency market and investments will be able to bring very good dividends to the country's budget.

I see that these will be only additional funds that can be used to improve life in the country, but this is unlikely to stabilize the economy.
First of all, countries should take care of what they produce. Is their national currency secured? Cares about unemployment and inflation. These things stabilize the economy and not investments in unstable assets.

avarnet

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Quote from: reality18 on July 26, 2019, 11:16:24 PM

The economy of a country is influenced by lots of factors that are capable of affecting the revenue of the country. Bitcoin can affect the revenue of a country through the creation of job opportunities such as Bitcoin mining and bitcoin merchants.

all possibilities can occur without anyone being able to influence with certainty the development and of course it can affect the economy of the country that uses the currency good and bad depending on the intention and purpose of the investor, of course

raidarksword

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I have faith on bitcoin of what it's purpose and ideology to be free from banks and not being monopolized by any governments so that everyone can financial freedom and free of greed of money. With bitcoin's status right now, i would say it can and could stabilized one's country economy.

reality18

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The economy of a country is influenced by lots of factors that are capable of affecting the revenue of the country. Bitcoin can affect the revenue of a country through the creation of job opportunities such as Bitcoin mining and bitcoin merchants.

TrevorS

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Activity: 1050

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Quote from: ?? on ??

If the country has certain sources of cheap energy, then it would be nice to establish a cryptocurrency mining farm. This would be a good reinforcement for the financial system of the state. In addition, in any case, investments strengthen the cryptocurrency market and investments will be able to bring very good dividends to the country's budget.

I see that these will be only additional funds that can be used to improve life in the country, but this is unlikely to stabilize the economy.
First of all, countries should take care of what they produce. Is their national currency secured? Cares about unemployment and inflation. These things stabilize the economy and not investments in unstable assets.

TrevorS

sr. member

Activity: 1050

Merit: 377

Quote from: ?? on ??

If the country has certain sources of cheap energy, then it would be nice to establish a cryptocurrency mining farm. This would be a good reinforcement for the financial system of the state. In addition, in any case, investments strengthen the cryptocurrency market and investments will be able to bring very good dividends to the country's budget.

I see that these will be only additional funds that can be used to improve life in the country, but this is unlikely to stabilize the economy.
First of all, countries should take care of what they produce. Is their national currency secured? Cares about unemployment and inflation. These things stabilize the economy and not investments in unstable assets.

pragna

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Quote from: Stedsm on October 03, 2018, 12:46:10 PM

As we all have been speaking many times that Bitcoin possesses the power to diminish the use of fiat in a country where it's welcomed with full hearts, I wish to know that does it really have the ability to cope up with the challenges a country's economy faces? Can it help in the growth of their GDP?

As we know, Bitcoin is limited in number whereas Federal Reserve has the power to do monetary easing when things go wild with their economy levels. So with such limitations, can Bitcoin really stabilize any country's economic issues?

Here is the fear about BTC. In flat money government can guess cash flow by their people but in BTC government can not control it so that it may effect wrongly in economy of a country. Here is the main problem of stabilization of economy so that every government thinking about this. They are thinking how it can be control so that they can accept it for their community.

FrozenBit

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Quote from: Stedsm on October 03, 2018, 12:46:10 PM

As we all have been speaking many times that Bitcoin possesses the power to diminish the use of fiat in a country where it's welcomed with full hearts, I wish to know that does it really have the ability to cope up with the challenges a country's economy faces? Can it help in the growth of their GDP?

As we know, Bitcoin is limited in number whereas Federal Reserve has the power to do monetary easing when things go wild with their economy levels. So with such limitations, can Bitcoin really stabilize any country's economic issues?

I don't think the crypto market will increase GDP growth in some countries. Because it is a financial market, there will be winners and there will be losers. It depends on the knowledge of the participants more.
In the second question, I think Bitcoin will not be greatly affected by any impact of federal data departments.
Because Bitcoin is operating in a decentralized market, it is very difficult to be controlled and affected by the law.

kennen1113

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Quote from: bitbunnny on July 20, 2019, 07:24:57 AM

I can't see how could Bitcoin help to stable the economy. First of all it's not regulated anywhere in the world in.the way that is part of official economy and financial system. Also, Bitcoin is unstable and decentralized by nature and such currency is not good for any economy. Bitcoin can help on an individual level, for individuals who use it to improve their personal financial situation.

Indeed, economic help and stability is only at the level of a few individuals involved in bitcoin, most of the rest are unable to accumulate anything from bitcoin except loss because bitcoin is a system that allows us to get opportunities to make money from it, many people put money into it and the winner's job is to defeat all opponents. And we have seen the scale of this battle, we need to be really strong to survive and make money, at the economic level of the country I don't think everyone has the same strong skills, only a few of them

bitbunnny

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I can't see how could Bitcoin help to stable the economy. First of all it's not regulated anywhere in the world in.the way that is part of official economy and financial system. Also, Bitcoin is unstable and decentralized by nature and such currency is not good for any economy. Bitcoin can help on an individual level, for individuals who use it to improve their personal financial situation.

jakoylantern

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For me, bitcoin can help to stabilize a country economy-level because bitcoin is needed internet to transact. We know that the economy level of a 3rd world countries is not that high, there are still someplace that doesn’t even have signals. Referring to other technological countries that can easily use bitcoin, they are also helping to improve their economy level because cryptocurrency is a new currency that which helps many establishments to transact their transactions much faster.

sunstrachaisawas

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It depends on the situation, remember what happened in venezuela? when their country suffered with economic downfall due to hyperinflation rate that result a depreciation of their currency bolivar, but bitcoin saves their lives as they using its as their official currency

wumBowo

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welp not that easy, you can look at europe even though there's so many country using euro as their currency they still have different level of economy

Argoo

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Quote from: BennyK on July 18, 2019, 08:33:46 PM

The economy of a country is influenced by lots of factors hence its stability is measured by the cumulative effect of the various factors which affect it. Bitcoin is capable of contributing to the positive impact of the economy of a country through its capabilities of generating job opportunities such as Bitcoin merchants, miners etc.

The positive impact of Bitcoin on the state’s economy is possible, but it is unlikely that it can fully stabilize the state’s economy. This will be hindered by its high price volatility, and it will also have little influence on the state’s economy. Therefore, he will be able to help only at the first stage, in the future it is necessary to connect the usual economic levers of economic recovery.

BennyK

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The economy of a country is influenced by lots of factors hence its stability is measured by the cumulative effect of the various factors which affect it. Bitcoin is capable of contributing to the positive impact of the economy of a country through its capabilities of generating job opportunities such as Bitcoin merchants, miners etc.

Duzter

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Quote from: Nellayar on July 18, 2019, 06:09:07 PM

Quote from: avikz on October 03, 2018, 05:12:59 PM

Quote from: Stedsm on October 03, 2018, 12:46:10 PM

As we all have been speaking many times that Bitcoin possesses the power to diminish the use of fiat in a country where it's welcomed with full hearts, I wish to know that does it really have the ability to cope up with the challenges a country's economy faces? Can it help in the growth of their GDP?

As we know, Bitcoin is limited in number whereas Federal Reserve has the power to do monetary easing when things go wild with their economy levels. So with such limitations, can Bitcoin really stabilize any country's economic issues?

The answe is simple, NO! Bitcoin is not a magic wand who would accomplish such huge tasks like stabilizing the GDP of a country or eradicate poverty from the face of the earth!

Also bitcoin doesn't have the power to replace the fiat system either!! It has just shown a way to do that in an affective and transparent manner! To replace the fiat system, the respective countries will have to come up with their own cryptos running on their own blockchain!

It would never been a solution in order to raise up the country for its recession level. The stability of the country never been achieved using bitcoin. BTC is volatile and anytime, fluctuation might happen. Though there are chance for it to grow up, there is also tendency for the economy to suffer depression.

Stability of the country's economy relies much on the policies. The economy level goes unstable when the funding is concentrated over a specific sector and the rest were left behind without proper consideration. For example if a country's wealth rely on agriculture, then it needs to be supported good. When this is done in the opposite way of making corporates to take control of the agriculture sector the country's economy won't get boosted, but the corporate economy grows diminishing the growth of common people. This way collapse the stability, as most of the country has its economy from the low bottom people and the small scale firms.

Nellayar

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Quote from: avikz on October 03, 2018, 05:12:59 PM

Quote from: Stedsm on October 03, 2018, 12:46:10 PM

As we all have been speaking many times that Bitcoin possesses the power to diminish the use of fiat in a country where it's welcomed with full hearts, I wish to know that does it really have the ability to cope up with the challenges a country's economy faces? Can it help in the growth of their GDP?

As we know, Bitcoin is limited in number whereas Federal Reserve has the power to do monetary easing when things go wild with their economy levels. So with such limitations, can Bitcoin really stabilize any country's economic issues?

The answe is simple, NO! Bitcoin is not a magic wand who would accomplish such huge tasks like stabilizing the GDP of a country or eradicate poverty from the face of the earth!

Also bitcoin doesn't have the power to replace the fiat system either!! It has just shown a way to do that in an affective and transparent manner! To replace the fiat system, the respective countries will have to come up with their own cryptos running on their own blockchain!

It would never been a solution in order to raise up the country for its recession level. The stability of the country never been achieved using bitcoin. BTC is volatile and anytime, fluctuation might happen. Though there are chance for it to grow up, there is also tendency for the economy to suffer depression.

MadeinCoin

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Quote from: NathanJB on June 29, 2019, 07:51:51 AM

Truth be told, no. If a country has low GDP, Bitcoin will not be able to ease. Neither will it be able to address it. If at all, it will only worsen the situation. Bitcoin does not have to do with the increase of production or the increase of services in a country. It is, on the contrary, an alternative payment option that will only weaken whatever the country's fiat currency is using. Bitcoin is essentially anti-government. With Bitcoin, you may even make transactions with very minimal or zero tax or benefit to the government.

It may be true that bitcoin has nothing to do with increasing production or service in a country. But if bitcoin is adopted by many people in every country, and there is an even distribution of bitcoin adoption, maybe this will make the world economy stable. Because bitcoin itself is a currency that is not regulated by the government so that everyone from country A can connect directly with people in country B without being restricted by regulations and any intermediaries.

Rooster101

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Quote from: Stedsm on October 03, 2018, 12:46:10 PM

As we all have been speaking many times that Bitcoin possesses the power to diminish the use of fiat in a country where it's welcomed with full hearts, I wish to know that does it really have the ability to cope up with the challenges a country's economy faces? Can it help in the growth of their GDP?

As we know, Bitcoin is limited in number whereas Federal Reserve has the power to do monetary easing when things go wild with their economy levels. So with such limitations, can Bitcoin really stabilize any country's economic issues?

Bitcoin is created as an alternative payment system to those who need another currency to use aside from the fiats. The high volatility of cryptocurrencies might make it unacceptable to use as one of the main currency to stabilize an economy. Its decentralized feature will also one of the factors why governments rejects it because they can't control it. But I believe, bitcoin can do a lot of help to every individual who want a currency that are free from the manipulation of governments and central banks.

dat.ho12492

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CAN BITCOIN REALLY STABILIZE ANY COUNTRY'S ECONOMY LEVEL? NO, BECAUSE IS NOT EVERYBODY CAN OPERATE OR
UNDERSTAND BITCOIN, EXAMPLE THE NON EDUCATED ONES, IT HAS BOTH POSITIVE AND NEGATIVE PART , SO I DONT THINK IT CAN STABILIZE ANY COUNTRY'S ECONOMY LEVEL.

Even if the people know how to operate or use it, I don't think it can stabilize a country's economy. We all know how volatile it is and that will surely affect the economy and how the people will use it. With the more people using it, the higher the volatility it has and how could that stabilize a country's economy level? People will not also use it all the time, they might save most of them and only use some of them.

You stick with the reality and purpose of bitcoin, it was not created to stabilize a certain economy.
In fact, it's nature is not stable, but it's volatile, and bitcoin although profitable so far does not guarantee it will give anyone a profit whenever they invested on it. If they will explore more, they will know and understand that the crypto market is big and lots of good profit that could help an economy grow.

First, I agree that bitcoin is not created to stabilize the economy of a country because the nature of bitcoin is a project, an investment and only people who care about it can gain benefits, and this nature has not changed over time, although people can discover more but no one can certainly make a profit with it. The government cannot escape this circle, even if they understand more, and many people know more about bitcoin, economic benefits still do not express too clearly for a country, it only narrowed in the scope of the individual

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