Covid economic impact - How can Bitcoin help to boost global economy? - page 3.

fiulpro

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Quote from: Kakmakr on September 16, 2020, 08:09:57 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

I want to share my personal experience here :

I am studying which is like from 8-16 , then I work two part time jobs to make ends meet since due to coronavirus every family is facing difficulties. But with cryptocurrencies like Bitcoins, Students do have a way to work part time , at the same time signature campaigns are an amazing opportunity.

People are earning here from Twitter, from Facebook plus getting paid timely.

You can every easily expand your business internationally taking care of your privacy too.

It is safer and more convenient to transfer money internationally through Bitcoins. The fee is actually less when doing a wire transfer through banks.

_*_

Printing money is never the solution , I do believe countries like the US they can do that , they can print and distribute it to other people but not developing and underdeveloped countries.

For the developed countries they can take the loss till a certain point but after that the price will fall drastically like a bursting bubble.

Solution is : *Making the essential things at the specified locations, leaving the import/export aside and become self reliable*

jrrsparkles

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Hire Bitcointalk Camp. Manager @ r7promotions.com

As you said currency is not going to be a solution to the employment issues which also applies to the bitcoin as well because which itself a currency designed to work decentralized.What can boost the economy is bringing more employment opportunities, cutting down the unnecessary expenses of our tax money even reducing tax rate will greatly help in the longer run.

plvbob0070

copper member

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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.

avikz

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I don't believe a cryptocurrency like bitcoin can solve the economic crisis the world is facing nowadays. The problem is much much bigger for a cryptocurrency to solve. Bitcoin is just a "store of value" (at least to me) and nothing else. So it is outside the scope and utility of bitcoin.

The entire market is suffering from decrease in buyer's confidence. People are not buying or buying less so factories are producing less and since factories are producing less, they are firing people to streamline their expenses with the demand.

Bitcoin doesn't fit here to become a problem solver.

Kakmakr

legendary

Activity: 3514

Merit: 1963

Leading Crypto Sports Betting & Casino Platform

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

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