It's hard to tell that a cryptocurrency can help to boost a global economy because there's diversity. Bitcoin as an asset is good for an individual because we can get profit by trading or investment but in a larger category such as the national economy, it can't especially when the country didn't adopt the use of cryptocurrency, so what more in the global economy?
Some countries are still doubting the potential and features of cryptocurrency and most of the countries are banning it. So how can a bitcoin help to boost the global economy if there's no adaptation happened in the first place?
Topic: Covid economic impact - How can Bitcoin help to boost global economy? - page 2. (Read 517 times)
September 17, 2020, 02:15:00 PM
September 17, 2020, 08:32:29 AM
I think bitcoin is difficult to boost the global economy right now, but bitcoin can boost someone's economy financially by doing something related to crypto.
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 . People can try to search for jobs to get money, and then they can save that money in bitcoin form.
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 . September 17, 2020, 08:11:39 AM
Bitcoin can't directly end the economic crisis because bitcoin is just a tool in the market and economy. Don't expect too much and rely on bitcoin too much because that will probably disappoint you. Although bitcoin is already famous and have a lot of user, it is not guaranteed that bitcoin can do anything. Remember that bitcoin is still under development and working on its own to become the best cryptocurrency. Bitcoin can somehow help global economy when it becomes totally adopted by most of the countries in the world.
September 17, 2020, 04:44:09 AM
The pandemic has influenced the fact that more and more people appear who are ready to save, not spend. Keeping savings in BTC becomes the most rational action. Of course, due to the volatility of bitcoin, mass storage is not yet very popular, but as bitcoin adapts, we increasingly see that people choose it.
Exactly the same way of keeping savings could be used by banks. Although many countries do not accept Bitcoin, investing in it could significantly save the economy. Bitcoin is an asset that can bring good profits, thereby ensuring the development of not only the crypto industry but also the economy itself.
Exactly the same way of keeping savings could be used by banks. Although many countries do not accept Bitcoin, investing in it could significantly save the economy. Bitcoin is an asset that can bring good profits, thereby ensuring the development of not only the crypto industry but also the economy itself.
September 17, 2020, 04:23:05 AM
I think bitcoin is difficult to boost the global economy right now, but bitcoin can boost someone's economy financially by doing something related to crypto. People can try to search for jobs to get money, and then they can save that money in bitcoin form. If they can do that every month, they will have much bitcoin (depend on how much money they save in bitcoin). And when bitcoin price increases high, they can sell their bitcoin to make more money in fiat to help them have money.
People can see job opportunities on the internet, whether paid using fiat or crypto, but they need to compete with other people, which I think the competitions will be tough for them. If people can easily use the internet, they will find jobs and apply for that job, but they need to have skills.
Perhaps, the company that has a network on the internet could reopen recruitment for those people, and that company can try to use crypto to pay them. If that can be done, I think that can lead the other company to use crypto, and people will know that crypto/bitcoin can boost their economic life.
People can see job opportunities on the internet, whether paid using fiat or crypto, but they need to compete with other people, which I think the competitions will be tough for them. If people can easily use the internet, they will find jobs and apply for that job, but they need to have skills.
Perhaps, the company that has a network on the internet could reopen recruitment for those people, and that company can try to use crypto to pay them. If that can be done, I think that can lead the other company to use crypto, and people will know that crypto/bitcoin can boost their economic life.
September 17, 2020, 04:10:45 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.
September 17, 2020, 03:36:38 AM
Those people that are jobless now but managed to save through bitcoin before the rainy days which we're dealing with today, did it correctly. They have money to use which they can get from their pockets because bitcoin's value has grown if ever they've bought it at the lowest price.
Bitcoin's help as a store of value for individuals like us has a big impact because, we're not like the others who have nothing to spend on and didn't cared of investments or store of value that they can take before the pandemic hits.
Bitcoin's help as a store of value for individuals like us has a big impact because, we're not like the others who have nothing to spend on and didn't cared of investments or store of value that they can take before the pandemic hits.
September 17, 2020, 03:14:50 AM
If you think about it, we all know Bitcoin can be considered as another investment, and this factor affects global economic investments. As more people understand what Bitcoin could do, this investment shift could be economically sound by boosting other assets. This could lead as a hedge against inflation (sorry OP, it's not guaranteed, but it's a part of how Bitcoin could help.
It also affects global trade, making it easy to pay from Asia to America. It could improve the state of relationships between people, and maybe the government will follow this.
As long as there is a positive impact on the use of Bitcoin, it could help improve and boost the economy.
If the ECONOMY is equal to the PEOPLE (ECONOMY = PEOPLE), then Bitcoin is boosting the ECONOMY with all its features and application towards the world.
It also affects global trade, making it easy to pay from Asia to America. It could improve the state of relationships between people, and maybe the government will follow this.
As long as there is a positive impact on the use of Bitcoin, it could help improve and boost the economy.
If the ECONOMY is equal to the PEOPLE (ECONOMY = PEOPLE), then Bitcoin is boosting the ECONOMY with all its features and application towards the world.
September 17, 2020, 03:04:12 AM
Let's brainstorm a bit and see how Bitcoin can make a real difference, when it is really needed. 
There's nothing to brainstorm here, we have 10 years of experience that Bitcoin has no significant effect on the global economy, and it doesn't even affect local economies either, and while we all can sit here and fantasize how tomorrow everyone will ditch banks and adopt Bitcoin and it will become really important, there's almost no chance of it actually happening.
September 17, 2020, 12:46:45 AM
The world economy is too big and bitcoin usage too small for it to have any meaningful impact on the global economy yet. There are too many moving parts in the economy. A lot depends on tbe political climate too. When the first views on the positive effects of bitcoin were put forward, it involved a switchover to the bitcoin standard. It also involves using something like bitcoin for transparent govt expenditure to remove obvious bottlenecks like corruption.
Such a paradigm change will take time amid opposition from banks and those on the top. The existing system is much too gratifying to them and they won't let it change. Bitcoin and cryptocurrencies are yet only a spark. It'll take the work and belief of millions like us in our communities and countries. We have to just keep going and keep making bitcoin a part of our individual and surrounding economies.
Such a paradigm change will take time amid opposition from banks and those on the top. The existing system is much too gratifying to them and they won't let it change. Bitcoin and cryptocurrencies are yet only a spark. It'll take the work and belief of millions like us in our communities and countries. We have to just keep going and keep making bitcoin a part of our individual and surrounding economies.
September 16, 2020, 11:42:35 PM
maybe bitcoin can help the economy but not for the global but for individuals, here we can generate bitcoins in many ways either from airdrops, bounty hunters, and mining 
September 16, 2020, 11:14:37 PM
Boosting global economies implies finding better methods of problem solving. Are there problems people currently face, which bitcoin could better solve in contrast to fiat currency? The answer has always been a resounding yes. The problem has usually been disseminating information to make the public more aware of how they can personally benefit and thrive through crypto currencies.
ICOs did a good job of approaching celebrities like Mike Tyson to run bitcoin ATMs and rapper TI to help with crypto business promotion. But there hasn't yet been an ambassador of crypto with a compelling story to capture peoples imaginations and get them excited about crypto and the opportunities it provides, as of yet.
Correct!
3% inflation means the value of a fiat currency declines by approximately 3% annually. Bitcoin's long term trend is one of appreciating value, where its value increases over time. 5% annual percentage yield on a savings account might seem like a good deal to most. Bitcoin has the potential to smash those gains, especially after a halving occurs.
ICOs did a good job of approaching celebrities like Mike Tyson to run bitcoin ATMs and rapper TI to help with crypto business promotion. But there hasn't yet been an ambassador of crypto with a compelling story to capture peoples imaginations and get them excited about crypto and the opportunities it provides, as of yet.
the paper money problem
Correct!
3% inflation means the value of a fiat currency declines by approximately 3% annually. Bitcoin's long term trend is one of appreciating value, where its value increases over time. 5% annual percentage yield on a savings account might seem like a good deal to most. Bitcoin has the potential to smash those gains, especially after a halving occurs.
September 16, 2020, 10:23:30 PM
Nope, Bitcoin can't boost the global economy. Growth on economy pretty much affected by how much growth in productivity a country obtains, and Bitcoin? It's a medium, I doubt it could affect that. As for introducing job opportunities, it would rely on people actually using Bitcoin to create jobs, and other than signature campaigns, airdrops, etc., I doubt there's actually an official job that would open up due to Bitcoin (except, of course, the developmental aspects of crypto, which would honestly require a lot of skill, so I doubt a large majority could even participate in it).
It isn't like Bitcoin is a commodity so I doubt it could even participate in actually increasing the productivity of a country, nor would it actually affect the global economic issues of a country. Indirectly though it could help, but it has little effect on the economy, mostly because employment for specialized development of Bitcoin requires specialized personnel, thereby making employment only for those select few. Most of the jobs that could actually boost the global economy are those in the infrastructure department, but I doubt Bitcoin could take part there.
It isn't like Bitcoin is a commodity so I doubt it could even participate in actually increasing the productivity of a country, nor would it actually affect the global economic issues of a country. Indirectly though it could help, but it has little effect on the economy, mostly because employment for specialized development of Bitcoin requires specialized personnel, thereby making employment only for those select few. Most of the jobs that could actually boost the global economy are those in the infrastructure department, but I doubt Bitcoin could take part there.
September 16, 2020, 10:10:16 PM
You have referred to the main point of the paper money problem, which is printing more paper money, which causes inflation and increases the problem instead of solving it, while Bitcoin is exactly the opposite, where the halving of Bitcoin occurs every four years, which leads to a decrease in the amount of Bitcoin (this is the opposite of pumping paper money Completely), and of course this will increase the value of Bitcoin, which in this case is similar to gold in terms of scarcity.
So I think that these countries should embrace Bitcoin instead of working towards increasing the printing of worthless paper money.
So I think that these countries should embrace Bitcoin instead of working towards increasing the printing of worthless paper money.
September 16, 2020, 10:09:41 PM
Well, at least to my mind, Bitcoin does not create jobs. Bitcoin's role is not to reduce unemployment. Neither could Bitcoin significantly boost global economy. I am referring to Bitcoin itself.
Indirectly, however, the existence of Bitcoin could at least facilitate large global transactions fast, cheap, and easy. Furthermore, Bitcoin mining hardware manufacturing companies and assembly plants are also contributing a little to employment. Bitcoin-related companies are also contributing to government revenue. This is to mention a few.
Perhaps we could also consider the rising value of Bitcoin as an economic factor that would somehow provide BTC owners a stronger purchasing capacity.
Indirectly, however, the existence of Bitcoin could at least facilitate large global transactions fast, cheap, and easy. Furthermore, Bitcoin mining hardware manufacturing companies and assembly plants are also contributing a little to employment. Bitcoin-related companies are also contributing to government revenue. This is to mention a few.
Perhaps we could also consider the rising value of Bitcoin as an economic factor that would somehow provide BTC owners a stronger purchasing capacity.
September 16, 2020, 08:07:46 PM
I dont think Bitcoin can solve economic problems now. A great crisis is in sight. We will not be able to make bitcoin an alternative to save the economy. Bitcoin price movements are still a puzzle, what makes bitcoin prices can rise in an instant. How can we expect bitcoin to be the savior of the current economic crisis.
September 16, 2020, 12:19:00 PM
I think one of the things that Crypto currencies and Bitcoin can do, is to create job opportunities that can be done from the comfort and safety of people's homes. People are also scared to go to shopping malls and outdoors, so for businesses to reach them with their advertising is more difficult now.... and TV ads are too expensive for most smaller companies.
The move to digital media and the Internet was boosted by this pandemic and I think businesses will have to adapt or they will have to close their doors.
I would like to see more projects where global "micro payment" come into play and you get people from poor 3rd world countries.. working for micro payments online. (It can be capped to counter bots or misuse.)
The move to digital media and the Internet was boosted by this pandemic and I think businesses will have to adapt or they will have to close their doors.
I would like to see more projects where global "micro payment" come into play and you get people from poor 3rd world countries.. working for micro payments online. (It can be capped to counter bots or misuse.)
September 16, 2020, 12:02:09 PM
Reliance into cryptocurrency at times like this won't be a definite solution to boost up the local and global economy for most of the people that have loss their jobs are skilled workers that totally relies on the work they do on a daily basis to sustain their living needs and expenses. It would be hard to push through cryptocurrency as a solution to resolve the problem for there are countries where Bitcoin is not allowed and the challenge of acceptance and adaptability is still in there. Also, the economic status of the country does not certainly relies on the financial capability and capacity for there are also other factors concerned why the economic status of a country boost or go down.
The only possible things that can totally boost up the economy is when people get back into work which is not that possible to make happen because of the pandemic but with the new normal setup, slowly people are getting back to work and some are even finding ways to earn a living using the modern technology and finding opportunities at this time of crisis.
The only possible things that can totally boost up the economy is when people get back into work which is not that possible to make happen because of the pandemic but with the new normal setup, slowly people are getting back to work and some are even finding ways to earn a living using the modern technology and finding opportunities at this time of crisis.
September 16, 2020, 11:42:06 AM
Maintain and improve the good features of Bitcoin and have people from all over world build and use sustainable economies/ecosystems on top of the network without unnecessary government controls and restrictions.
In regards to Bitcoin protection against inflation not being guaranteed, I think it can be guaranteed. We have seen it with recent tokens how supplies can be easily controlled within the system to keep the price of token up overall... though I think the price increase should be moderate. The deflationary feature should work well if communities have full control of supplies and can prevent people from supressing prices externally...and as long as the ecosystems are very useful, thriving and sustainable,
In regards to Bitcoin protection against inflation not being guaranteed, I think it can be guaranteed. We have seen it with recent tokens how supplies can be easily controlled within the system to keep the price of token up overall... though I think the price increase should be moderate. The deflationary feature should work well if communities have full control of supplies and can prevent people from supressing prices externally...and as long as the ecosystems are very useful, thriving and sustainable,
September 16, 2020, 10:23:11 AM
It's hard to reduce unemployment in many places because people need to have skills to work from the internet to get paid in bitcoin.
If they don't have any skills and only use the free method, I am not sure that they can survive and continue to work from what they do.
We can only encourage them to use their skills, and search for the website such as fiver, blogger, and another type of works, and I think they will have more opportunity to make money, so they can get paid in fiat and not just in bitcoin.
The important thing is they can try to do something using the internet, and no matter if the payment is in fiat or bitcoin, they can make money.
If they don't have any skills and only use the free method, I am not sure that they can survive and continue to work from what they do.
We can only encourage them to use their skills, and search for the website such as fiver, blogger, and another type of works, and I think they will have more opportunity to make money, so they can get paid in fiat and not just in bitcoin.
The important thing is they can try to do something using the internet, and no matter if the payment is in fiat or bitcoin, they can make money.
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