Topic: Can Bitcoin really stabilize any country's economy level? - page 4. (Read 2623 times)

volatile occurs because bitcoin users are still minimal, so it is possible to be manipulated, but it will be different if most of the world's population uses it, of course it will be more stable than at present

I think it's a difficult thing, moreover bitcoin is an international transaction and investment tool, and the price of course is interconnected. there will be no price stability when there are still many markets that have unstable prices.

Bitcoin is volatile so it eiol not stabilze a country's economic level. One of the factots why cryptocurrency is not yet ideal to be used or replace fiat is because of volatility. Imagine if a country is using crypto as a main currency, just one crypto crush, the economic situation of the country will really be affected.

I don't think Bitcoin alone can stabilize a country's economic level since it will only be achieve if the people together with the Government  of a particular country will all work hard and in harmony to uplift the lives of everyone else. Good governance and talented people will produce economic success though Bitcoin could be used as a tool and be instrumental in achieving such goal.

From my understanding the economic flow within the country can be kept stable with the blockchain technology, because if the governance is integrated to the blockchain technology automatically everything will be transparent to the common people. When there is no corruption this will surely move towards economic growth. Also these kind of changes can't be experienced in a days time. This is a long term process which needs time for a change.

I think not because the economy of a country involves many things. if a country adopts bitcoin the country's economy will not immediately stabilize. Bitcoin can only benefit investors and users. if in one country there are many people who become bitcoin investors, maybe the economy level of the citizens will increase.

Bitcoin can have a significant impact on a country's economy due to the economic boost factors it possess. Bitcoin brings financial freedom and satisfaction to the people through its investment opportunity. Job opportunities like mining, trading, etc is also created in countries where Bitcoin is accepted.

Everything will be possible but it takes time and also how their citizen adopt these. Even though a certain country will legalize crypto but their people never have that adoption will just no effect at all. It will only bring help if they used to help their self also and not just a spoon feed.
And so this crypto adoption will only provide a less possibility for country's economic status to level up.

maybe what you say is true if the country has legalized crypto currency as the currency that applies in the country's economy and will become a currency that can make economic development in that country

im sure, if someone playing bitcoin he will get advantages from economy to function. its clear if bitcoin can make someone economy increase greatly, many people helped by bitcoin. so if everybody use bitcoin, im sure it will be help, increase economy for some country. but it depend on government regulation and how much people know about bitcoin. indívidual act is effective than you make hope to government

No, the countries always choose coins that are not volatile because of economic principles, and bitcoin can't now stabilize countries economy, but maybe another crypto can do it, but for this we need governments to adopt crypto and use it.

Bitcoin reduces cost and risks. It is not a magic cure. But is just better option. and Yes that should hep with GDP growth when financial system gets cheaper.

This is the same as a country with a garbage fiat (ie, mine) vs a less garbage fiat (ie. USD). Would it help stabilize the economy? Well yes and no. It might stabilize prices, but not make things cheaper, in fact it would make them more expensive, which makes for restarting the economy a bit trickier. But not impossible, as long as there are economic freedoms.

For example if my country declared bitcoin as the national currency, it wouldn't stop the economic crisis, but it would start alleviating 15 years of artificial pegging against the USD, one of the sources of economic distortion would cease. If this were accompanied by other freedoms, such as no customs fees to imports, sure people would start getting access to goods that have been sold overpriced by the few select elite that have a permit to import, since anyone could import directly and bypass this intermediary. That however doesn't directly improve the local economy, but...

Since bitcoin means zero controls to capital, investors could come and start business knowing fully they can take out their money immediately and instantly without the State intervening at all, thus easing their willingness to invest. A socialist state like this would love to seize their assets, which is why no one invest in the first place.

So the answer is, yes, not quickly, but yes it would help. The volatility of bitcoin looks rock solid next to our garbage fiat (currently world's worst), and just like under hyperinflation people changing prices everyday, the same they could easily do with bitcoin. Even better, since the actual exchange rate would come from far many more trusted sources in a global market, rather than the manipulated distorted mess here.

This is the next step for humanity, the first time a country declares bitcoin as the official currency. Japan seems to be backtracking, wanting to move from coin to asset, and that is a shame. Some countries officially allow both their fiat and another "strong one" such as USD or EUR.

But bitcoinization alone is not enough, a free (people's) economy is a must, the opposite to a socialist (State central planned) economy. And yes, it is best to rub it to socialists that their policies are against the people for the State, while the free market is FOR the empowerment of the people. Vote with your wallet, the ultimate form of direct democracy, something socialism takes away from you.

The limited supply of BTC has solved the inflation problem and even made the economy grow. but it serves everyone, it does not serve any country. it is only supposed to reduce the rate of giving birth in some poor countries, but cannot change the whole.

Bitcoin does not have a big role in this regard. It works in terms of knowing the total supply, in terms of not producing extra money, and in order to follow the transactions. Also, few tariffs will be good in terms of blooming the economy.

It is safe to say that Bitcoin has nothing to do with the ability to stabilize the economy of any state. Rather, on the contrary, if Bitcoin or any other decentralized cryptocurrency is recognized as the main means of payment in the state, then the economy of any state will quickly deregulate and total chaos will occur. Therefore, a decentralized cryptocurrency should go in society only in parallel with the national currencies of the states.

Its very easy to understand. Its not possible for a government which has been running on paper currency for such a long period to completely shift to cryptocurrency in future taking into account the risks associated with it and the public demand generally being negative for it. Unless there is a bigger lobbying of crypto in the public associated with an increase in the adoption, such a thing will never happen.

Moreover no government wants to label themselves as followers of "criminal currency" which has been the common notion for crypto among the general public. This will not change unless something drastic happens.

the chances for the government is always there but they could not make it possible I still don't know why the concept of Bitcoin will not being trusted by the government till now people will strongly trust it can be the next future economic changes equipment hope it can be happen at least in the future.

exactly Bitcoin can definitely help the country's growth but the problem is know the countries want the use of Crypto development because their panic will be like that if the accepted the country's growth will definitely affected by that if it was negative then the biggest problem for developing countries will happen in anytime so I don't think it will not been possible for some years.

Bitcoin will not helpful for there any country development because it will not created by any country if was legal age to buy the country then the changes will definitely have come but till now it cannot make any profit for the other country.