Can Bitcoin save a nation that owes a lot of money / Debt the answer is yes, tho this is totally based on my opinion. Why because it simply the bitcoin is against the inflation unlike fiat that losses its value year by year bitcoin is like gold that act as hedge for the inflation.
If the country start to buy crypto in this case Bitcoin there is possibility to take profit when the bitcoin price is at the peak. Just like El Salvador did maybe there is floating loss and a risk but bitcoin already proven and now even big companies start to buy the Bitcoin
Topic: Can Bitcoin save a nation that owes a lot of money / Debt (Read 870 times)
That's just corruption with a different word, the only difference is that the politician don't directly accept the money and most of the time, the bribes are made in favors, take for example, the businesses that want to push some laws that would favor them could say that they will close up shop on some of their biggest warehouses thus creating job shortage and increased unemployment and politicians don't like that because they know that it might backfire to them, another example is lobbyist can easily fund the campaign funds of many politicians thus making sure that these lobbyists can get their favors later when they're in the seat of power, it's all corruption, they just painted it and made it more complicated so they can easily argue that they're not violating anything.
I am not denying anything that you have written earlier nor am I saying it is correct. What I meant earlier is that this is how the US administration, the Pentagon, and the whole system operate. Due to the country's capitalistic approach, these policies have long existed in their society since its inception. It has only created more problems for other countries than for the US as such lobbying is used by other countries to tackle their enemies. It is not considered illegal in their constitution therefore it is baseless to consider it as corruption.
For a country's debts to decrease, its economy must develop. Buying Bitcoin does not increase the economy. The financial sector increases the economy only according to statistical data, but if the profits from this sector are not distributed to real sectors of the economy, such as manufacturing, agriculture, medicine, education and others, then the country will continue to borrow and depend on the policies of other countries.
The problem with the development in the country to improve it's economy and to then solve it's debt issue is the fact that they're going to need to do a lot of compromises and corruption needs to be eradicated in the government, and I don't think that those in power would want a compromise to help with the debt of the country that they're in, I mean, you save yourself first and then others right? I think that there's also another reason that's tied to the corruption, it's the problem with overspending and overbudget in projects of the government, they do this all the time especially in a corrupt country, they overbudget a small project so they can easily pocket the difference and in the audit, they will overprice the materials of the project so in the audit, it would look like nothing really fishy happened. Now imagine that there's thousands of projects that are overbudget every year due to corruption, it will always end up with nothing but problems with the annual budget of a country which leads to them getting into loans that are almost always, unfavorable.I don't know about the corruption in the US (by the way I believe there is none or very less as it is a developed country), but the things you mentioned truly project the picture of my society where the corrupt politicians are getting every benefit of life at the expense of the ordinary person who is the victim of the highest ever inflation.
People say that Bitcoin and blockchain technology can help reduce corruption because it is a transparent blockchain and you cannot manipulate much but then these corrupt people don't care if people can see their corruption as no one can take any action against them as they are in power and all the justice and courts are under their supervision.
Only if the rulers and the politicians have a clear mindset of implementing justice in the country, only then can things become better, only a currency like Bitcoin cannot change the corrupt mindset.
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The US is a capitalist economy and they have legalized lobbying but it doesn't fall under corruption according to thier law. It is completely legal to bribe a senator for addressing a particular issue. It is how thier society has evolved. They have laws that mostly protect those who have money that is why the number of homeless citizens are increasing in the US. El Salvador afaik paid its debt to the IMF according to some news.
does Pakistan have some energy source that is overflowing and they could mine BTC with it? they have oil reserves according to some news and if they could use them, maybe they could enrich themselves.
regardless of whether it could save them, its advantageous for their government to grab a stash of BTC since most governments will likely be doing the same thing. if US is heading this way, then its better to also get some BTC.
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You're living with a rose colored glasses if you don't think that there's any corruption in the US, I don't think that you understand the dynamics of power is and how it works because you can't gain all of that prosperity and influence by being fair to other people, where there is power, there's bound to be a corruption, try searching the definition of lobbying and you'd know that corruption does exist in the US government. The people are right about blockchain technology, it's transparent and there's no way that someone or something can tamper with it, that's why people are finding ways to develop a system like this that would create a really clean voting system.
The US is a capitalist economy and they have legalized lobbying but it doesn't fall under corruption according to thier law. It is completely legal to bribe a senator for addressing a particular issue. It is how thier society has evolved. They have laws that mostly protect those who have money that is why the number of homeless citizens are increasing in the US. You're living with a rose colored glasses if you don't think that there's any corruption in the US, I don't think that you understand the dynamics of power is and how it works because you can't gain all of that prosperity and influence by being fair to other people, where there is power, there's bound to be a corruption, try searching the definition of lobbying and you'd know that corruption does exist in the US government. The people are right about blockchain technology, it's transparent and there's no way that someone or something can tamper with it, that's why people are finding ways to develop a system like this that would create a really clean voting system.
I don't know about the corruption in the US (by the way I believe there is none or very less as it is a developed country), but the things you mentioned truly project the picture of my society where the corrupt politicians are getting every benefit of life at the expense of the ordinary person who is the victim of the highest ever inflation.
People say that Bitcoin and blockchain technology can help reduce corruption because it is a transparent blockchain and you cannot manipulate much but then these corrupt people don't care if people can see their corruption as no one can take any action against them as they are in power and all the justice and courts are under their supervision.
Only if the rulers and the politicians have a clear mindset of implementing justice in the country, only then can things become better, only a currency like Bitcoin cannot change the corrupt mindset.
You're living with a rose colored glasses if you don't think that there's any corruption in the US, I don't think that you understand the dynamics of power is and how it works because you can't gain all of that prosperity and influence by being fair to other people, where there is power, there's bound to be a corruption, try searching the definition of lobbying and you'd know that corruption does exist in the US government. The people are right about blockchain technology, it's transparent and there's no way that someone or something can tamper with it, that's why people are finding ways to develop a system like this that would create a really clean voting system. People say that Bitcoin and blockchain technology can help reduce corruption because it is a transparent blockchain and you cannot manipulate much but then these corrupt people don't care if people can see their corruption as no one can take any action against them as they are in power and all the justice and courts are under their supervision.
Only if the rulers and the politicians have a clear mindset of implementing justice in the country, only then can things become better, only a currency like Bitcoin cannot change the corrupt mindset.
For a country's debts to decrease, its economy must develop. Buying Bitcoin does not increase the economy. The financial sector increases the economy only according to statistical data, but if the profits from this sector are not distributed to real sectors of the economy, such as manufacturing, agriculture, medicine, education and others, then the country will continue to borrow and depend on the policies of other countries.
The problem with the development in the country to improve it's economy and to then solve it's debt issue is the fact that they're going to need to do a lot of compromises and corruption needs to be eradicated in the government, and I don't think that those in power would want a compromise to help with the debt of the country that they're in, I mean, you save yourself first and then others right? I think that there's also another reason that's tied to the corruption, it's the problem with overspending and overbudget in projects of the government, they do this all the time especially in a corrupt country, they overbudget a small project so they can easily pocket the difference and in the audit, they will overprice the materials of the project so in the audit, it would look like nothing really fishy happened. Now imagine that there's thousands of projects that are overbudget every year due to corruption, it will always end up with nothing but problems with the annual budget of a country which leads to them getting into loans that are almost always, unfavorable.I don't know about the corruption in the US (by the way I believe there is none or very less as it is a developed country), but the things you mentioned truly project the picture of my society where the corrupt politicians are getting every benefit of life at the expense of the ordinary person who is the victim of the highest ever inflation.
People say that Bitcoin and blockchain technology can help reduce corruption because it is a transparent blockchain and you cannot manipulate much but then these corrupt people don't care if people can see their corruption as no one can take any action against them as they are in power and all the justice and courts are under their supervision.
Only if the rulers and the politicians have a clear mindset of implementing justice in the country, only then can things become better, only a currency like Bitcoin cannot change the corrupt mindset.
For a country's debts to decrease, its economy must develop. Buying Bitcoin does not increase the economy. The financial sector increases the economy only according to statistical data, but if the profits from this sector are not distributed to real sectors of the economy, such as manufacturing, agriculture, medicine, education and others, then the country will continue to borrow and depend on the policies of other countries.
The problem with the development in the country to improve it's economy and to then solve it's debt issue is the fact that they're going to need to do a lot of compromises and corruption needs to be eradicated in the government, and I don't think that those in power would want a compromise to help with the debt of the country that they're in, I mean, you save yourself first and then others right? I think that there's also another reason that's tied to the corruption, it's the problem with overspending and overbudget in projects of the government, they do this all the time especially in a corrupt country, they overbudget a small project so they can easily pocket the difference and in the audit, they will overprice the materials of the project so in the audit, it would look like nothing really fishy happened. Now imagine that there's thousands of projects that are overbudget every year due to corruption, it will always end up with nothing but problems with the annual budget of a country which leads to them getting into loans that are almost always, unfavorable.
For a country's debts to decrease, its economy must develop. Buying Bitcoin does not increase the economy. The financial sector increases the economy only according to statistical data, but if the profits from this sector are not distributed to real sectors of the economy, such as manufacturing, agriculture, medicine, education and others, then the country will continue to borrow and depend on the policies of other countries.
The problem with the development in the country to improve it's economy and to then solve it's debt issue is the fact that they're going to need to do a lot of compromises and corruption needs to be eradicated in the government, and I don't think that those in power would want a compromise to help with the debt of the country that they're in, I mean, you save yourself first and then others right? I think that there's also another reason that's tied to the corruption, it's the problem with overspending and overbudget in projects of the government, they do this all the time especially in a corrupt country, they overbudget a small project so they can easily pocket the difference and in the audit, they will overprice the materials of the project so in the audit, it would look like nothing really fishy happened. Now imagine that there's thousands of projects that are overbudget every year due to corruption, it will always end up with nothing but problems with the annual budget of a country which leads to them getting into loans that are almost always, unfavorable. The dictators ruling us are puppets of the US, they are elected by election rigging and they would never make regulations for the general public benefit. This being said our government (Pakistan) is thinking of completely banning the usage of crypto through this proposed regulation that crypto traders will be imprisoned for 5 years.
Those few are the ones that have destroyed a country because their greed. Regulation will help guys like you attain a financial freedom, if that happens then you will revolt against the elite class. Sadly this is the truth and I am certain you won't be able to deny it. Bangladesh has banned Bitcoin and cryptocurrencies and still these bong brothers are able to make good money from this industry. I am sure you guys will follow the same ways that these guys have been using for some years now.
Such acts from the government are not liked by the general public and will only develop further hatred among the people against the government, People will still find ways to trade using VPN and other techniques as long as govt. does not identity them.
I can only say that your establishment which has a puppet Government is very shrewd and cunning in controlling the mind of general public. They will surely deviate this issue with something that touches the heart of public and will be able to again prevail the control. VPN is the best idea but I have read in news articles that your government is using a specialized software purchased from an international company that disables the use of VPN. I don't have any proof related to it as I don't remember where I saw that link.
You write the right thoughts, but corruption is difficult to get rid of, because it is a method of management.
But since this does not work, now the organizers are trying to finance different groups that are fighting for power, so that they solve the problems of the organizers. And if nothing works out, then they resort to terrorism.
But since this does not work, now the organizers are trying to finance different groups that are fighting for power, so that they solve the problems of the organizers. And if nothing works out, then they resort to terrorism.
Corruption is the reason why America can control countries where the local fiat is going down. Countries like Pakistan have been in that state not today but from the time when dollars were paid to big generals to create an army of mercenaries who would fight against the USSR. They are doing the same in different regions and they will continue to do it. There is a famous quote by a dynamic foreign minister of US named Henry Kisinger “America has no permanent friends or enemies, only interests”
The dictators ruling us are puppets of the US, they are elected by election rigging and they would never make regulations for the general public benefit. This being said our government (Pakistan) is thinking of completely banning the usage of crypto through this proposed regulation that crypto traders will be imprisoned for 5 years.
Such acts from the government are not liked by the general public and will only develop further hatred among the people against the government, People will still find ways to trade using VPN and other techniques as long as govt. does not identity them.
Alert for Pakistani Crypto Traders ; 5 year prison
Note: Somehow this binance link is not opening but I have attached the snippet from Google too.
You write the right thoughts, but corruption is difficult to get rid of, because it is a method of management.
But since this does not work, now the organizers are trying to finance different groups that are fighting for power, so that they solve the problems of the organizers. And if nothing works out, then they resort to terrorism.
But since this does not work, now the organizers are trying to finance different groups that are fighting for power, so that they solve the problems of the organizers. And if nothing works out, then they resort to terrorism.
Corruption is the reason why America can control countries where the local fiat is going down. Countries like Pakistan have been in that state not today but from the time when dollars were paid to big generals to create an army of mercenaries who would fight against the USSR. They are doing the same in different regions and they will continue to do it. There is a famous quote by a dynamic foreign minister of US named Henry Kisinger “America has no permanent friends or enemies, only interests”
And the fact that the big boss has no permanent friends or enemies is a normal situation, but the problem is that the boss is already unable to control many things due to lack of resources.
You write the right thoughts, but corruption is difficult to get rid of, because it is a method of management.
But since this does not work, now the organizers are trying to finance different groups that are fighting for power, so that they solve the problems of the organizers. And if nothing works out, then they resort to terrorism.
But since this does not work, now the organizers are trying to finance different groups that are fighting for power, so that they solve the problems of the organizers. And if nothing works out, then they resort to terrorism.
Corruption is the reason why America can control countries where the local fiat is going down. Countries like Pakistan have been in that state not today but from the time when dollars were paid to big generals to create an army of mercenaries who would fight against the USSR. They are doing the same in different regions and they will continue to do it. There is a famous quote by a dynamic foreign minister of US named Henry Kisinger “America has no permanent friends or enemies, only interests”
For a country's debts to decrease, its economy must develop. Buying Bitcoin does not increase the economy. The financial sector increases the economy only according to statistical data, but if the profits from this sector are not distributed to real sectors of the economy, such as manufacturing, agriculture, medicine, education and others, then the country will continue to borrow and depend on the policies of other countries.
This is right. Investing in bitcoin for the purpose of ROI to repay debts is only going to be a temporal measure and not long lasting thereby plunging the economy back to where it belongs because they will still go back borrowing. A country can make profit in bull season only either with halving because of demand and volatility that will be created and so when the season is off what happens?
Like you have narrated, to take a country out of economic woes and under development, first the country must wipe itself off from corruption because that is a knife that cuts through proper economic planning. Such countries with bad economy have bunch of corrupt government officials and politicians who when infrastructures are located through them, they embezzle the money into private use and then leaving those neighborhood at the mercy of what would have been prevented with such money budgeted.
For economy to grow and leave the poverty and indebtedness line, it must take capital projects and real investment serious. This will increase GDP and improve stand of living.
Human development i and education must also come into the fore and proper budgeting/planning must be made including monitoring. Education is the bedrock of innovation leading to manufacturing. So when this is done, there will be growth in the manufacturing sector and then exporting will be increased while importation is reduced and foreign currency reserve will improve which will bring borrowing to the normal and lowest minimum.
So it takes real planning and effort to draw a country out from borrowing to grow the economy internationally and not by temporal means of bitcoin investment.
But since this does not work, now the organizers are trying to finance different groups that are fighting for power, so that they solve the problems of the organizers. And if nothing works out, then they resort to terrorism.
I don't think so, depending on how big their debt is and I'm assuming it's going to be in the billions, they're going to need to accumulate a lot of bitcoin or maybe even invest a huge part of their national budget into bitcoin acquisition since mining after this halving might not be as profitable, with the current price of bitcoin, they need to be on the level of Microstrategy to be able to make payments for their debts and it's a hard task at hand to be honest, that the answer to the question is that it's probably not a way to save Pakistan's debts through bitcoin.
They would be making great mistake if they would invest their budget money in bitcoin, that means they would have to wait for at least a year for the bull to be matured before they cash out into paying countries that they are indebted to. That one year of investment and waiting would have been the year they would implement the budget into different sectors of their economy to see how they can make progress in that year. It will not be a good idea for a country to invest in bitcoin in the hope to build the economy through it . El Salvador for instance have not been a super country financially having invested in bitcoin . In fact they have lost huge value of their bitcoin investment because of the expectation is yet to be accomplished as bitcoin bull is still not there yet, Nayib Bukele is trying to win his second term, reconvince businesses on the need to use bitcoin .
I don't think so, depending on how big their debt is and I'm assuming it's going to be in the billions, they're going to need to accumulate a lot of bitcoin or maybe even invest a huge part of their national budget into bitcoin acquisition since mining after this halving might not be as profitable, with the current price of bitcoin, they need to be on the level of Microstrategy to be able to make payments for their debts and it's a hard task at hand to be honest, that the answer to the question is that it's probably not a way to save Pakistan's debts through bitcoin.
For a country's debts to decrease, its economy must develop. Buying Bitcoin does not increase the economy. The financial sector increases the economy only according to statistical data, but if the profits from this sector are not distributed to real sectors of the economy, such as manufacturing, agriculture, medicine, education and others, then the country will continue to borrow and depend on the policies of other countries.
This is right. Investing in bitcoin for the purpose of ROI to repay debts is only going to be a temporal measure and not long lasting thereby plunging the economy back to where it belongs because they will still go back borrowing. A country can make profit in bull season only either with halving because of demand and volatility that will be created and so when the season is off what happens?
Like you have narrated, to take a country out of economic woes and under development, first the country must wipe itself off from corruption because that is a knife that cuts through proper economic planning. Such countries with bad economy have bunch of corrupt government officials and politicians who when infrastructures are located through them, they embezzle the money into private use and then leaving those neighborhood at the mercy of what would have been prevented with such money budgeted.
For economy to grow and leave the poverty and indebtedness line, it must take capital projects and real investment serious. This will increase GDP and improve stand of living.
Human development i and education must also come into the fore and proper budgeting/planning must be made including monitoring. Education is the bedrock of innovation leading to manufacturing. So when this is done, there will be growth in the manufacturing sector and then exporting will be increased while importation is reduced and foreign currency reserve will improve which will bring borrowing to the normal and lowest minimum.
So it takes real planning and effort to draw a country out from borrowing to grow the economy internationally and not by temporal means of bitcoin investment.
Considering this condition of any country, can Bitcoin help in this to recover from this crisis by probably adding BitcoinBTC in national reserves and not only focusing on US Dollars 
Legally it cannot, Bitcoin cannot be created and included in state law, Bitcoin cannot legally be held accountable to legal entities, therefore it cannot save the state debt, Don't look at the value and investment and trading cycle, that's another story, indeed Bitcoin has good value, but it can't be underestimated.The country has legal regulations regarding debt and money circulating in the country, of course all of this is bound by law, the country does not want to take risks with Bitcoin, because it can only be accessed via the internet and Bitcoin cannot be used as a single law to settle state debt.
An example that can be seen in El Salvador, even though they adopted Bitcoin on a large scale and was recognized by the president, El Salvador's national debt is still ballooning, the dollar has become the basic guide because it is legal and officially issued by world and American banks, Dollars are legally enforceable everywhere, Bitcoin is not like that only in certain cases, legally it cannot help with national debt, but as an investment it may be suitable.
You are talking about voting, but even using the example of my country, I can say that this does not work. Previously, we had elections
In your case there are no different powers in the state, hence even the votes are stolen: the result of the votes is not related at all with the number of voters, not with what they've elected.
Plus, while even in democracies you get, in many cases, to the point you have to vote between a couple of bad choices, I expect that in your cases the choices are... simply a bad joke.
Sadly my logic doesn't work in dictatorship. In such cases, the history has shown that sadly the only solution is a revolution. And that is painful and risky, usually with many dead and with unknown chances of success, including the fact that the regime coming afterwards will probably not be exactly what the vast population was hoping for.
Sorry... I have no solution in your case...
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