Topic: Cryptocurrency impact on Economy - page 5. (Read 1533 times)

In fact, at this very moment we can say that Cryptocurrency is already very dominant in all circles of society because there are many people who already know about it and have also invested and traded on several well-known exchanges. So the impact of Cryptocurrency on the economy is actually very widespread so that it will continue to spread in the future with more different conditions in the future. So personally, each of you should no longer need to doubt Cryptocurrency because the fact that it is profitable has also happened very clearly.

I think this statement requires attaching a reference as proof of the validity of this information. Your statement contains facts that in my opinion require additional evidence that can support the facts you have provided. You said that it was a country so my question is what country do you mean?

So I think you should re-correct the percentage you said. Because even if it is a country I think 30-40% is a large number where almost half of the population in that country uses cryptocurrency for the fields you mentioned. Trading and mining may be associated with cryptocurrencies but what about investment and digital marketing? I think currently not many people use cryptocurrencies as a medium of exchange because of the fee problem which in my opinion is still high if used for small scale transactions.

Hustling for work, both online and abroad, can be tough, and not everyone has the same opportunities. Poverty's a real bummer, and it's easy to see how it can feel normal when everyone around you is struggling. But hey, props to those with the open mind and drive to break free, even if it means barely having enough food on the table.

Crypto can be a cool tool, with stories of people getting lucky with airdrops and stuff. But let's be real, it's not a guaranteed path to riches. It's like a rollercoaster – exciting, but with the potential to leave you feeling queasy and empty-handed. Relying on it for long-term change is risky, like building your house on sand.

Op is just stating that 30-40% of the population of some countries use cryptos, but provides no sources to back this up. The impact of cryptos and crypto-related businesses on local economies should be measured by proper research, not mere speculations, in my opinion. Also, apart from the gains, it should account for losses in crypto scams.
The whole post kind of sounds like generic assumptions without any evidence to back them up, to be honest.
I mean, I like this whole pro-Bitcoin attitude that Bitcoin helps escape poverty and unemployment, but when it's just words with no proof, it doesn't mean much.

This is the unfortunate truth, people are not aware of it so much but the reality is that we are going to end up with not having equality for the sake of improvement. However, what you also should realize is that if we had that type of equality, we wouldn't have innovation and progress as much as we have right now.

People who know that there is a possibility they could make some money and be richer than everyone else, puts in more effort right now, free market is not bad, we could find some middle ground. We should allow or at least open the way for people to be as rich as possible if they make something the whole world needs, whereas we should also help the poor as much as we possibility could, maybe more than now, but not make them live for free.

You're mentioning numbers and percentages in your initial post, which I honestly find exaggerating. As other users have already suggested, 30% to 40% is an extremely high number that, firstly, doesn't make sense, and secondly, even if it did, you haven't provided a reputable source to back your claims. Personally, I don't see how cryptocurrencies are able to assist, let alone solve such complicated issues as poverty and unemployment. You're not presenting any solid arguments to back up any of what you're saying.

I'm sorry, but I do not agree. Cryptocurrencies can certainly assist in many sectors, such as freedom, anonymity, or fast transactions across the globe. They can assist financially, but mostly on an individual level. They don't grow on trees; they're not a money-printing business.

Cryptocurrencies have a major impact on the economy. Currently, everyone, whether rich or middle class, can benefit from this cryptocurrency. It's not like the big whales are the only ones profiting from this. Those who know about this crypto currency can earn by investing and trading here. It is a system through which people can earn money with transactions if they want. I think cryptocurrencies will dominate the economy in the future.

The most important here are just 2 aspects: cross-border transactions and illegal activities.

Everything else is pure demagoguery, as in any economics textbook.

is that true, most people don't have jobs because of the lack of job opportunities?
then they tried to look for information on the internet and found crypto, I was also one of the people who was helped by this.
if I didn't know crypto maybe I would be trapped in poverty.
Currently I have gotten some results from crypto even though I lost a lot in trading.

There are positive impacts and negative impacts of cryptocurrency on economic activity.
It can be concluded that there are several positive impacts of Crypto, namely:
   1. Ease of access to financial services.
Can shorten in making payments, facilitating payment transactions, giving profits when making payment transactions and also increase efficiency in conducting transactions.
   2. Crypto can make transactions directly without carrying out intermediaries around the world safely, quickly and more cheaply so as to encourage economic growth.

Behind the positive impact, there is also a negative impact of crypto on the economy. The negative impact of Crypto on economic activity in broad outlines can relax the economic growth of a country. This is because there are two negative impacts, namely:
   1. Threat of cyber crime
SBer crime media that is very easily accessible and studied on the internet. Cyber crime is all the activities that are commonly carried out by the perpetrators on digital transactions, namely by damaging the institutional network by stealing and abusing valuable data and documents, committing fraud and hacking bank accounts and transferring funds or money to their accounts. The emergence of this cyber threatens the defense and security of the state so that it has the potential to disrupt the economic pace.
   2. Central authorities need to make regulations involve cryptocurrency innovation infrastructure and build infrastructure of virtual currency systems with rules that focus on stablecoin to be able to involve cryptocurrency into systems and policies to strengthen financial ecosystems and facilitate economic activities that can accelerate the rate of economic growth
   3. To minimize negative impacts, central authorities can tighten the prohibition policy on the use of cryptocurrency developed by the private sector as legal tender, because it can cause cyber crime and threaten financial system stability which in turn can hamper economic activities.

The thing is that, the world COULD provide all for everyone, it is not really about internet or anything like that, it's about wanting equality for real or not. Just sit down for a second, and consider, could we provide housing, clean water, food and education also even healthcare to EVERYONE in the world with the riches we have right now in the world? I can tell you, we can, it's there, it can be done. Why are we not doing it then?

Because we do not want equality, not in that sense, we want people with their private jets because they made a great company, we want people to have their own warehouses with twenty thousand workers, because they grew their company. We don't want equality, we don't want internet or smart phone at every hand, we want the possibility of being rich beyond our needs.

What do you mean by solve poverty? I bet you don't know the total number of poor people worldwide and you don't know how many of them that aren't expose to the internet. To make money from cryptocurrency, you first need to understand the internet and then you also need to understand how to read and write and also how to comprehend, many poor number of people don't have the things I made mention. The world is still poor but we can all agree that availability of cryptocurrency has help many have a ways to earn money without depending on anyone.

Trading is one of the acute aspect the cryptocurrency has provided for many people, you just need to understand how it work and what to use to start which is money. If you are an experienced trader, between yesterday and today, Bitcoin has make a move of 10% in the last 24 hours, playing with such swings can get you an average of 50% which is better than even saving the money in the bank, you can earn more if it were altcoins. This is what crypto gives that the government can't give to people.

The impact of cryptocurrency on the global economy presents both opportunities and challenges. While it undoubtedly offers greater financial inclusion for unbanked populations and facilitates faster, cheaper cross-border transactions, concerns regarding volatility, illegal activities, and the potential disruption of traditional financial systems merit careful consideration.

Cryptocurrencies offer access to financial services for individuals outside the traditional banking system, promoting financial inclusion and potentially fostering global economic development. Additionally, crypto-based transactions eliminate intermediaries, leading to faster and more cost-effective cross-border settlements. This could prove particularly beneficial for facilitating international trade and remittances. But, the inherent volatility of cryptocurrencies poses significant risks for investors and businesses. Wild price fluctuations can erode investor confidence and hinder the adoption of crypto as a reliable store of value.

Some people who have been able to take advantage of crypto will be able to increase their income because they can invest the money they have or trade to get income from crypto, if those who don't have a job will of course also be able to invest or trade using their income. from campaign payments that are followed in this forum so that they have earned income according to their abilities, if mass adoption can occur of course this will be very beneficial for those who understand it well so this will be very profitable for those who know more beginning.

In short cryptocurrency plays an important tool to solve the problem about poverty and unemployment which for me helps improve the economic growth of a specific country. Take note that we are still in the early stage of adoption so expect to have a massive adoption in the near future.

So true. Cryptocurrencies have provided a space for the unemployed youth to earn income from crypto trading. This also happens in many countries, including in my country. many unemployed young people are using Cryptocurrency to earn income and can even change their economy. At a time when the country does not provide job opportunities for the younger generation, Cryptocurrency is here for some people to develop their talents in trading. Unemployed people don't have to work in an office, but if they can earn income from trading then it can be said to be a job.

It is time for the younger generation to understand cryptocurrency trading both in the short and long term, because cryptocurrency is the only investment that makes sense over time because it has proven to be very profitable. Yes, of course cryptocurrency trading can be very profitable if you have the right strategy and a good manager.

During the past ten years, cryptocurrencies have a huge influence on the world economy. It has opened up new avenues for financial independence and investment. Bitcoin is given value by its users, supply and demand.

it has all the essential properties of paper money but you can not physically touch the currency. But it might be effected in a state for the safety of economy.

Basically Bitcoin is often considered a digital alternative to traditional stores of value like gold. Investor may turn to Bitcoin as a hedge against economic instability, inflation or currency depreciation.
BTC have a Innovation payment system. It has evolved into an investment asset class, attracting institutional and retail investors seeking diversification and potential returns.

BTC is the borderless and decentralized nature makes it attractive for international trade and remittances, potentially reducing dependence on traditional financial systems and enabling greater economic integration across borders. It influence continues to evolve as adoption grows and as policymakers businesses

Overall BTC impact on economics is multifaceted.

On the contrary, the percentage of crypto users is a little bit high.4.2% is high from my own perspective

https://triple-a.io/crypto-ownership-data/

I'm sure this is just your opinion and only judging from a few cases, meaning it's not the real thing that happens because of the presence of crypto, in fact I think more people experience losses from investing in crypto because they don't know the right knowledge about crypto because we know there are many scammers in the crypto world, whereas if he invested in Bitcoin it would certainly not take a short period to finally be able to enjoy the results of their investment and reduce poverty

Since you already asked, I want to repeat it and hopefully, Op can answer because if there is no definite answer this is just a guess or personal opinion from Op, and I agree that the percentage of crypto users is not that high.

Cryptocurrency offers enticing freelance opportunities in fields often requiring minimal skills beyond internet access. The potential for high returns compared to traditional 9-to-5 jobs is undeniable. However, the inherent volatility of cryptocurrency poses a significant risk of losing everything. Therefore, I recommend leveraging any cryptocurrency earnings to invest in upskilling yourself, like learning programming, which can lead to more stable and secure career paths. While cryptocurrency can be a lucrative income source, remember to diversify your investments to mitigate risk.