Can Bitcoin really stabilize any country's economy level? - page 6.

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Quote from: shesheboy on November 15, 2018, 09:25:33 PM

first of all , bitcoin itself is not a stable crypto . so my question is how can he stabilize the country's economic level if he cannot stabilize himself first ?

Its all relative, in some countries they have no proper access to stable paper money. All they have is dollars which in some cases have to smuggled as its seen as avoiding tax to use the currency of another country. Dollar itself has an ongoing failure to retain value that might get worse. Bitcoin relative to that has a fixed schedule of issuance and is only subject to fluctuation in retention by its holders, the actual amounts in circulation is not suddenly shooting up to aid some central party and their bills

Yes is the answer, Bitcoin can be a positive to a country suffering from problems in trade. Its not unknown for a people to be forced into barter trades with no divisible value available reliably. Bitcoin by gift anyone in the world access to an open ledger is enabling the worst off to continue to be part of a wider economy not boxed into a corner by local politics or trade problems. That is so incredibly valuable to poorest and I hope Bitcoin continues to focus on providing efficiency and cheap access to the poorest people, obviously this does rely on basic technology being available but even 2nd tier nations can have problems so my answer is a definite yes

Wellyan

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all possibilities can occur without anyone being able to predict because of the development of technology and in the era no one can know for sure as well as economic development

nur rochid

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Quote from: radjie on January 13, 2019, 12:51:35 AM

I don't think so, because most countries still can't formalize the existence of bitcoin so there are still many pros and cons in most countries regarding this digital currency. bitcoin is also not fully felt by the general public, so it is difficult to say whether bitcoin is able to stabilize the economy of all countries while bitcoin is still rarely known by the wider community

in addition, there are many people who know bitcoin, but do not believe it as an investment tool or as a means of payment, because there are many governments that have not legalized it, due to various obstacles in the country

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I don't think so, because most countries still can't formalize the existence of bitcoin so there are still many pros and cons in most countries regarding this digital currency. bitcoin is also not fully felt by the general public, so it is difficult to say whether bitcoin is able to stabilize the economy of all countries while bitcoin is still rarely known by the wider community

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Venezuela is experiencing an economic crisis and is pegging its economic recovery to a cryptocurrency with the hope for financial recovery with that.

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So anyway, I applied as a merit source :)

Quote from: skish85 on December 19, 2018, 04:00:39 AM

Bitcoin is unlikely to stabilize the economy. You look at its volatility. This is a disaster for the economy. Stable coins are more suitable for improvement.

Looking at what 52week market charts yes it does have volatility but it is one of the safe havens whales can find if the other asset market are going down in value. This idea is again a bit speculative and longshot but it goes by popular demand though I doubt how far it will be true. Talking about stablecoins though I dont find any trading value in them if there is volatility because majority of people are interested in making money off the asset and not just sleeping on it for years.

Again the centralized or decentralized nature of the stablecoin does come into question.

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I think bitcoin is participating well in the country economy and if we check the country stability then crypto can add a good impact on the economy but that would be very small and other factors which are very high they can affect economy like political instability adverse affect and law and order situation if good ultimate affect the economy while foreign reserves is very important for a stable and good economy.

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Quote from: OrangeII on December 19, 2018, 10:38:34 PM

Quote from: skish85 on December 19, 2018, 04:00:39 AM

Bitcoin is unlikely to stabilize the economy. You look at its volatility. This is a disaster for the economy. Stable coins are more suitable for improvement.

you are right. besides, bitcoin also can't be stable somewhere, because when a place is higher, of course it will make a dump happen, when people sell the bitcoin there. well, this is very difficult to do.

That's why people love bitcoin because it's not stable, it's volatile and it's what makes it exciting.
We are trading and we see some big movement, even in just a day. Now, if we are good enough in finding information and with our TA, we can make money doing some day trade.

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Quote from: skish85 on December 19, 2018, 04:00:39 AM

Bitcoin is unlikely to stabilize the economy. You look at its volatility. This is a disaster for the economy. Stable coins are more suitable for improvement.

you are right. besides, bitcoin also can't be stable somewhere, because when a place is higher, of course it will make a dump happen, when people sell the bitcoin there. well, this is very difficult to do.

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Quote from: East2011 on December 19, 2018, 04:07:32 PM

Only the people and the government of that country can stabilize their economy. If they help each other they can do all things. I think bitcoin cannot stabilize the economy of any other countries.

Bitcoin is not powerful enough to stabilize any country at best what you can do as a person is to take advantage of it if your country is having problems, so even if the economy of the country where you live goes down or crashes you will avoid some of the worst parts of the crisis and unlike most people you will still have some savings that you could use to move to another country or to lead a better life.

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Only the people and the government of that country can stabilize their economy. If they help each other they can do all things. I think bitcoin cannot stabilize the economy of any other countries.

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Quote from: skish85 on December 19, 2018, 04:00:39 AM

Bitcoin is unlikely to stabilize the economy. You look at its volatility. This is a disaster for the economy. Stable coins are more suitable for improvement.

right, with high volatility, I feel this needs a strong calculation. how would it be like a country that was hit by an acute crisis, and chose a cryptocurency to replace their worthless currency. of course now they suffer more from it. but if the bitcoin will rise dramatically, of course their economy can be saved

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At the moment this is impossibe. In order for Bitcoin to have influence in any way on any economy it should formaly be part of that economy. In other words, legal basis and regulation are needed that would officialy introducr Bitcoin in economic and monetary system of some country. If you ask me at the moment we are far away from such scenario anywhere in the world.
Untill that happenes Bitcoin could have some indirect impact economy through individuals that use it (for example through tax on transactions or that enables people with Bitcoin buying goods and services with fiat money they got by exchanging Bitcoin).

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Bitcoin is unlikely to stabilize the economy. You look at its volatility. This is a disaster for the economy. Stable coins are more suitable for improvement.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: chrisculanag on November 15, 2018, 10:21:44 PM

I dont know if bitcoin can help the economy of every country but i am sure that bitcoin is a very profitable investment that you can improve your gain and because of that your country gain too.

Not correct. What you gain is what you keep. You are not going to share your earning with your country's treasury would you? That would like giving away your money to the governments tax system and you will be keeping a meager chunk.

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So they are a small help in the county if you are using bitcoin . I am glad that because of this my financial problem is gone and i got some benefits of using of this just like in sending remittances.

Such an economy is not happening anytime soon. It will a long time before bitcoin gets recognition instead of mockery in the mainstream. Already we have been mocked by the SEC and traditional traders and its not easy to change their opinions unless there is some huge amount of adoption of crypto.

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Quote from: chrisculanag on November 15, 2018, 10:21:44 PM

I dont know if bitcoin can help the economy of every country but i am sure that bitcoin is a very profitable investment that you can improve your gain and because of that your country gain too. So they are a small help in the county if you are using bitcoin . I am glad that because of this my financial problem is gone and i got some benefits of using of this just like in sending remittances.

I am not an economist, and it is very difficult for me to judge if Bitcoin can do it or not. I know ony thing: with time, when BTC goes to the Moon, my financial situation will be improved.

wingsthegreat21

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For me If they managed their fiat currency and their economy in a better way instead of trying to take advantage of their citizens all the time we will not have any need for crypto like bitcoin in the first place but since that is not what they do then cryptocurrencies could take over in the near future.

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I dont know if bitcoin can help the economy of every country but i am sure that bitcoin is a very profitable investment that you can improve your gain and because of that your country gain too. So they are a small help in the county if you are using bitcoin . I am glad that because of this my financial problem is gone and i got some benefits of using of this just like in sending remittances.

shesheboy

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first of all , bitcoin itself is not a stable crypto . so my question is how can he stabilize the country's economic level if he cannot stabilize himself first ?

it'll also depend on the country or the government of the country and not on bitcoin or any other currency . some country wont still be stabilize because they experience an inflation or any other issues regarding on the supply and demand of the live stocks/stocks . while some dont experience this issue because they have a good leader and thier lives are already wealthy .

BennyK

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Bitcoin has the intrinsic feature of enhancing the economy of a country especially the country which integrate Bitcoin and utilizes the Blockchain technology. With Blockchain, there is generation of job opportunities for the people and creation of financial freedom and satisfaction for the people.

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