Covid economic impact - How can Bitcoin help to boost global economy?

CODE200

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Quote from: plvbob0070 on September 16, 2020, 08:38:34 AM

Bitcoin is not always an answer to every economic problem we encounter. Yes, the current pandemic has affected millions of employees and lost their jobs but I don't think we can always push bitcoin in finding a solution for this. Personally, this pandemic also affected my family since my father temporarily had no job during the hard lockdown but I found different opportunities here in crypto that helped my family financially even if my father has no job. It helps me, and for sure most of us here too, but I don't think everyone who lost their jobs can find jobs or income here or something to reduce unemployment.

I agree on this. Bitcoin is not always the solution for every problem. The wrong concept and mindset that people have towards Bitcoin usage make it a lot more complicated that they are expecting too much from Bitcoin expecting it to be always the key or answer to the problem when there are always other alternative ways to resolve the situation. People nowadays are being reliant and dependent on what Bitcoin can do making it and treating it to be the solution for the problem.

The existence of Bitcoin even before did not boost up the global economy which means it is not the answer or solution. Actually the answer relies on our hands as people to make things work together with our governments to create job opportunities and work things out to make a movement on boosting our local and global economy.

SquallLeonhart

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Crypto itself may not be really the solution to this but the blockchain part of it could actually be a solution that people are not looking at.

The difference is with bitcoin you have a whole another economy and you need to build a huge infrastructure on it, right now bitcoin and ethereum has HUGE fee's for example and miners are making a killing but that's about it.

Compare that to for example having regular economy but a blockchain that can show what government is spending money on and where the money comes from, that way people would see that regular poor people pay bulk of the taxes yet the big companies are getting the bulk of the help for some reason and that way with blockchain everyone would be enlightened about how to fix things around, how huge profitable companies should pay taxes and how poor people should get more help and that would fix everything in global economy as well.

MCobian

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With Bitcoin it is very easy to get income from the internet, because now there are so many online job offers with Bitcoin payments.
Maybe this is why many people say Bitcoin can help the global economy. Besides that, we only do day trading with Bitcoin and can
get income from it, so we can buy daily necessities. So I'm including those who agree with the opinion that Bitcoin can help the global
economy.

MFahad

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Quote from: Kasabus on September 18, 2020, 04:33:43 PM

Quote from: jostorres on September 18, 2020, 01:34:49 PM

The truth is that your question doesn’t make any sense, if you reasoned it properly before posting this you would have known that Bitcoin cannot boost economy of any country. There are ways to boost our economy and it doesn’t have anything to do with bitcoin.,

Even if a country should change their currency to Bitcoin and start making use of it in every way, it’s not going to make them the best country in the world, they will still have a bad economy as long as they don’t do the things they are supposed to do to make their economy to be better, like providing job opportunities, lowering interest rates, increasing real wages and other things that matters.

Bitcoin is not an answer to the problems we are facing today particularly unemployment. Although this crypto market can offer lots of opportunties to earn online, but if the people won't be able to cope up with these internet jobs because they are used with their own jobs, then they can't still survive from this current struggles. People should learn to widen and improve their abilities and skills so they can work and earn an income whether online or offline.

Online earning opportunities are for those who have good skills. Without skills it is difficult to get any online job or work. However through bitcoin the payments can be made easily worldwide and many new internet online jobs have been opened but it can only be beneficial for those who have skills and are expert in their professions.

Kasabus

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Quote from: jostorres on September 18, 2020, 01:34:49 PM

The truth is that your question doesn’t make any sense, if you reasoned it properly before posting this you would have known that Bitcoin cannot boost economy of any country. There are ways to boost our economy and it doesn’t have anything to do with bitcoin.,

Even if a country should change their currency to Bitcoin and start making use of it in every way, it’s not going to make them the best country in the world, they will still have a bad economy as long as they don’t do the things they are supposed to do to make their economy to be better, like providing job opportunities, lowering interest rates, increasing real wages and other things that matters.

Bitcoin is not an answer to the problems we are facing today particularly unemployment. Although this crypto market can offer lots of opportunties to earn online, but if the people won't be able to cope up with these internet jobs because they are used with their own jobs, then they can't still survive from this current struggles. People should learn to widen and improve their abilities and skills so they can work and earn an income whether online or offline.

jostorres

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The truth is that your question doesn’t make any sense, if you reasoned it properly before posting this you would have known that Bitcoin cannot boost economy of any country. There are ways to boost our economy and it doesn’t have anything to do with bitcoin.,

Even if a country should change their currency to Bitcoin and start making use of it in every way, it’s not going to make them the best country in the world, they will still have a bad economy as long as they don’t do the things they are supposed to do to make their economy to be better, like providing job opportunities, lowering interest rates, increasing real wages and other things that matters.

Kong Hey Pakboy

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Quote from: Salauddin1994 on September 17, 2020, 03:10:45 AM

While many countries around the world have been affected by the effects of the epidemic investing in bitcoin could help boost the global economy this will greatly increase the demand for bitcoin and it will not take long for the economy to recover. The governments of many countries around the world are struggling to keep up with the changing nature of money due to the effects of the virus so most asian countries are supporting bitcoin to fight the economic downturn caused by the corona.

Bitcoin and cryptocurrencies could definitely help economic growth, especially in developing countries, because it could provide much easier access in the capital and financial services, and it would help them to earn profits. By earning profits, they could convert it into fiat, which could help reduce unemployed people in a country. But while we are in the middle of the pandemic, it will take longer for us to recover our economy due to inflation.

Xembin

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I think it will be difficult for bitcoin to find solution to global economy.
Bitcoin is a decentralized digital which is not control by the government, which there are still some country who don't allow bitcoin and other cryptocurrencies in their country.
It is this pandemic that make so many people to know that bitcoin is a cool money that someone can use it to invest and use it to do other business stuff.

Some people don't still believe that bitcoin is real to assist people economy and make their economy grow again as before. the only way bitcoin can find solution to global economy is when bitcoin and cryptocurrency is be control by the government which it will be difficult for such to happen.

elitium.io

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A Digital Economy for a Life of Value & Growth

The WEF announced the need for global stakeholders to take action against 'The Great Reset.'
Bitcoin and alternative crypto solutions are key drivers.

Crypto will play a major role once this DeFi wave settles down and people are back focused on providing a means for adoption and education. This opportunity remains eminent over the last few years and as fiat continues to collapse, crypto is the next-best solution to a cashless society. Think of how many people were online shopping and food delivery during quarantine. I would assume a majority of global populations (guilty).

Bitcoin is a great resort to financial freedom as well as a lot of other utilities this industry has created. As long as the industry keeps building and regulators help push adoption further, there is a bright future ahead. 2020 has been harsh but if there's one thing I've learned about this community, people are always optimistic about the next day, week, and especially year.

AnonBitCoiner

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Quote from: Kakmakr on September 16, 2020, 07:09:57 AM

So by now every country in the world has been hit by financial difficulties and an increase in unemployment. Most countries are trying to print more toilet paper fiat money to boost the economy, but that is only a temporary remedy for a much larger problem. (It is a lot like putting a finger in a hole in a dam)

How can Bitcoin help to reduce unemployment and also to boost the global economy? If we find the answer to this question, we will have found a reason for people to rather use Bitcoin than cash. (Do not list Bitcoin's ability to act as a Safe haven against inflation, because that is not guaranteed)

Let's brainstorm a bit and see how Bitcoin can make a real difference, when it is really needed. Wink

It made a worst attack which was not expected.Even now the corona had his impact on economy by the mean of unemployment.Many people was suffering a lot,some people getting huge many for the product by making sense of product is hard to get.The loser is poor people,the losing their money by buying products at high price.

Ridwan Fauzi

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There is just a few percent for bitcoin's users in every country and I believe for those who knows bitcoin before this crisis came they will keep comfortable until now, I mean they will not get a bad impact. They can still earn money through trading or investing, as a little case myself, I don't know what will happen if I never know bitcoin before.

The virus has given a big impact to my country, there are a lot of companies who just closed and dismissed all their employment and become a horrible situation, and I one of the victim. I just unemployment and need money to meet my family life, there will be a useless thing if I look for a job again, so at that situation I can't imagine how my family lives. But it just different when I know bitcoin, I have no fear of facing an economic crisis because I can buy everything that I need. it would be different if most people know bitcoin, we will survive without help from the goverment.

dwinrs

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Quote from: Dorodha on September 17, 2020, 11:29:15 PM

many countries around the world view Bitcoin illegally

maybe a country that says bitcoin is illegal doesn't believe in bitcoin, it could be considered bitcoin is just a fraud

abhiseshakana

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Quote from: Shasha80 on September 17, 2020, 06:34:58 PM

I am among those who have successfully used Bitcoin to increase my finances. Because Bitcoin can indeed be relied on as a source of
income in a situation like now that is happening in an economic crisis everywhere. Even some countries have very high numbers of
unemployed. For the short term, I strongly agree with the government's move by printing money, in order to boost the economy.
But if for the long term the risks and impacts will be bad. So Bitcoin can be a solution to help boost the global economy. We can trading
Bitcoin to make money, but Bitcoin trading is not easy. So from now on, start learning more about Bitcoin and how to trade Bitcoin safely.

Even though bitcoin has not been widely adopted and its penetration is still at the level of the global community, it cannot be denied that bitcoin opens up opportunities and can be relied upon as a source of income for many people. Bitcoin is one of the promising investment options in times of crisis like now. But bitcoin has not been able to boost the global economy, because de facto, bitcoin is in the global economic system, but de yure, many countries do not accept bitcoin.

So that the economic booster effect is not significant. The creators of the global economy will maintain the existing system and will only break the system and rebuild it according to their wishes, but everything remains under their control namely with a digital fiat system.

Printing money must be followed by the development and development of the industrial sector so that the economy can rotate, not printing money to increase demand through direct cash assistance.

beerlover

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The only way that we can actually utilize bitcoin would be to actually help each other in a barter sort of way using bitcoin as payment option instead of fiat. How? There are parts of the world who have one thing and not the other, another part of the world has the thing other missing but not the thing they have, they will exchange it, regular economy at its finest right?

Well, if you think about it as large companies, you can be sure that this is done anyway, nations send their companies products to other nations and this has been done for decades (and even centuries with breaks) uninterrupted.

However you do not have small one person talent bartering anymore, which bitcoin could be very helpful. With the one person talent bartering, you could actually help each other out a lot.

Dorodha

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Covid's economic influence has brought the world down a lot it will take a long time for the economy to recover. bitcoin investments can be recovered very easily crypto can help the economy recover from the current crisis. many countries around the world view Bitcoin illegally it would be best to support Bitcoin. As the economy improves many will find a source of employment and will be able to cope with the financial crisis.

maydna

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Quote from: shoreno on September 17, 2020, 07:32:29 AM

Quote from: maydna on September 17, 2020, 03:23:05 AM

~snip~

that is because btc isnt properly accepted globally but helping to boost some country still helps and still be fine than struggling on thier own because we all know that every country has been damage and almost all resources have been used up except maybe to cryptos .

I am still sure that the crypto will contribute to the countries or people at the same time because many people still don't aware of bitcoin, and many countries don't know what bitcoin can do to their countries. Sooner or later, the country will realize the bitcoin potential to the country because bitcoin can give the people a new opportunity to have a source of income.

Quote from: shoreno on September 17, 2020, 07:32:29 AM

Quote from: maydna on September 17, 2020, 03:23:05 AM

~snip~

this answer was close to the question of the op . youd better say people search for jobs that pays in bitcoin and its okay if they convert that bitcoin to cash so that they have something to spend or they can also save the bitcoin that they get .

The main problem is people need to find money, and no matter if people can get pays in bitcoin or money, that can solve their problem financially. If people can have the money in many ways, they can also invest some money in bitcoin, so they have the potential to make a profit in the future. That will help people who are aware of the new thing that can allow them to have a better life.

verita1

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I want to say that Bitcoin could help us reestablish the economy, maybe not everyone considers it but at least some good part.

If it has been useful for our community with it we have gained some benefit. Now is the time to be ambassadors for Bitcoin where we live. We will have many challenges such as that people have confidence and learn to use them in their finances.

Think for a moment about the exchange platforms, they are designing rewards programs for us to leave our bitcoin or any crypto on them. They are realizing that Bitcoin is so valuable that it can boost our crypto economy and what we need is to gain more space because if we do not do it with the support of Bitcoin there will be another that will.

Shasha80

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I am among those who have successfully used Bitcoin to increase my finances. Because Bitcoin can indeed be relied on as a source of
income in a situation like now that is happening in an economic crisis everywhere. Even some countries have very high numbers of
unemployed. For the short term, I strongly agree with the government's move by printing money, in order to boost the economy.
But if for the long term the risks and impacts will be bad. So Bitcoin can be a solution to help boost the global economy. We can trading
Bitcoin to make money, but Bitcoin trading is not easy. So from now on, start learning more about Bitcoin and how to trade Bitcoin safely.

panganib999

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If we would better think about it, we have already experienced lots of global economic crisis before while Bitcoin is already existing and as what we have experienced and witnessed, the existence of Bitcoin have nothing to do to boost up the global economy for the reliance on it won't solve the present problem. There are lots of factors affecting why a certain economy experiences a down fall whether it is local or global and as for now, different sectors are affected because of the pandemic which we can see that the stock market have suffered and the crypto market have been affected just a little but not directly and not for too long. If Bitcoin can help boost up the global economy, then at first hand of its existence then there must already a seen improvement but there is non so I think at this global economic crisis brought by the existence of the pandemic, Bitcoin cannot do anything about it.

goldade

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Just like many before have take time to point out, I do not think bitcoin can change the economy of a nation.
Although it is a known fact that bitcoin can help improve the living condition of individuals through trading and participating in signature and bounty campaigns, its effect on the economy as a whole is too insignificant to count. Only a small percentage of a country's population, especially now that bitcoin is still illegal in most countries, are involved with bitcoin and this leaves the larger majority who have to struggle without the advantage of bitcoin.
I, however, do think that if bitcoin attain mass adoption then maybe its effect on the economy will be significant enough to count

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