Cryptocurrency is important for a country? or not... - page 2.

lixer

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Cryptocurrency is trust and freedom. which is essential part for a developing country everyone should accept it when everyone is accepting it they way it is not by imposing centralisation.

It will depend on the leader of the country. No matter how we say crypto is freedom and trusted but if the leader of the country does not want his people to be free and he are not trusted. We cant do anything about it.

For the countries with have a good leader, we have seen them developed naturally and take note there are no cryptos that time, that is why crypto is not essential although it is helpful for a country to become more developed. The only thing that crypto can cause damaged to a country is when people use it in a wrong way. Not only that it will cause damage to their country but it can also a damage to the reputation of the crypto itself .

Dunamisx

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Quote from: tokyohd on October 12, 2021, 05:12:34 AM

Cryptocurrency is essential for the development of a country?
Does cryptocurrency play an effective role in the development of the country? Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

Absolutely No, if you are to take cognisance to the rate people are tripping for cryptocurrency each day and the market cap daily increase makes it a world wide acceptable currency even thou some are yet to adopt nor legalized it. This is what people are doing and are seeing the result to be real, legit and profitable, the fact that it create individual's independency to having currency and in making exchange.

Taking a look into the case study of El-Savador's adoption, ever since the adoption last year, no tangible economic set back has it cause them while as of recent, the president of [Suspicious link removed]j.com/articles/turkeys-erdogan-meets-el-salvadors-bitcoin-boosting-leader-amid-economic-crisis-11642678083]Turkey makes move towards the El-Savador's bitcoin amidst their economy crackdown[/url] meaning bitcoin can be a rescue to build up a delapitated system of finance and economy.

Gasty4

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At the moment not all sector's in a country will crypto currency be, but then in a short time we'll see most of them companies and industries trying to keep abreast with Crypto Currency.
They're are going to be very mandatory soon, every country will want to make good use of them.
Big Applause to the countries accepting Crypto Currency.

TelolettOm

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Quote from: tokyohd on October 12, 2021, 05:12:34 AM

Cryptocurrency is essential for the development of a country?

In what development? Most cryptocurrencies are decentralized and this may not give a big essential influence on a country. But, cryptocurrency is essential for individual who is living in that country.

Quote from: tokyohd on October 12, 2021, 05:12:34 AM

Or does it hinder the development of the country and cause extreme damage to the country?

I never imagine how much damage is caused by cryptocurrency. maybe it is about the negative impact of mining? Or because of money laundering? Well, so far, I don't read any extreme damage caused by cryptocurrency.

Quote from: tokyohd on October 12, 2021, 05:12:34 AM

What do you think about this?

It will depend on each country whether they legalize crypto or not. For some countries that legalize crypto, they consider more pros than cons. Moreover, crypto help increase the financial and economy of their citizen. Crypto is more than only a currency.
But for countries that ban crypto, whatever the reasons, they will think negatively about crypto and spread more FUDs

KaliLinux

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Quote from: tokyohd on October 12, 2021, 05:12:34 AM

Cryptocurrency is essential for the development of a country?
Does cryptocurrency play an effective role in the development of the country? Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

Countries have developed before the introduction of Bitcoin and even after the introduction we still have countries that are still underdeveloped. I don't think Bitcoin has anything to do with a countries development except the countries Government decides to deliberately get involved with Bitcoin in a bid to use Bitcoin to grow the countries finance. On the other hand, we can also conclude that since the individuals that are involved in Bitcoin in a country might do their own personal development within the country with their Bitcoin gains, maybe that could amount to what you are asking.

JayTrain

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Quote from: tokyohd on October 12, 2021, 05:12:34 AM

Cryptocurrency is essential for the development of a country?
Does cryptocurrency play an effective role in the development of the country? Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

the cryptocurrency itself carries a certain risk for the traditional financial sector, many countries are afraid of cryptocurrencies precisely because of this, but I see some advantages, novelty, idea in this, but the most important value of any country is the blockchain technology, it is unknown how countries will apply this technology.

noormcs5

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Quote from: lepbagong on January 18, 2022, 04:46:43 AM

Quote from: Xinarae* on January 16, 2022, 11:25:13 PM

Cryptocurrency is not very important for a country but it is popular all over the world but crypto is not included in any banking service. Cryptocurrencies do not match cash they are privately created assets at present they are being traded in various businesses this coin has been recognized in only one country in the world in all other countries this currency has no value. This coin was not even recognized by any administration crypto is being traded through some anonymous third party authorities but could become important if the government gives legitimacy.

yes, there are many countries that have not recognized the existence of crypto so what you say could be true that it is not very important for the country. because to be able to receive crypto legalized in a country clearly requires separate regulations because it is different from banking in general which has been known and carried out in parts of the world today.
It is also true, crypto is very well known throughout the world and can be a very profitable asset for anyone who holds and makes transactions.

but it is very important that crypto is indeed recognized by a country as a legal tender, or at least can trade crypto. so that the state and the people who do this will receive additional income from the results of transactions in crypto, although not directly.

Cryptocurrency is important for the citizens of the country but it may not be valuable for the government. This is how most governments thinks. This shows the lack of knowledge about the cryptocurrency among the higher authorities of the country.

If only government realize the importance of crypto, that will benefit both the people and governments.

lepbagong

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Quote from: Xinarae* on January 16, 2022, 11:25:13 PM

Cryptocurrency is not very important for a country but it is popular all over the world but crypto is not included in any banking service. Cryptocurrencies do not match cash they are privately created assets at present they are being traded in various businesses this coin has been recognized in only one country in the world in all other countries this currency has no value. This coin was not even recognized by any administration crypto is being traded through some anonymous third party authorities but could become important if the government gives legitimacy.

yes, there are many countries that have not recognized the existence of crypto so what you say could be true that it is not very important for the country. because to be able to receive crypto legalized in a country clearly requires separate regulations because it is different from banking in general which has been known and carried out in parts of the world today.
It is also true, crypto is very well known throughout the world and can be a very profitable asset for anyone who holds and makes transactions.

but it is very important that crypto is indeed recognized by a country as a legal tender, or at least can trade crypto. so that the state and the people who do this will receive additional income from the results of transactions in crypto, although not directly.

IQnawaz123

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Yes cryptocurrency is important for a country, it provide a significant benefit by overcoming the lack of social trust and by increasing the access to financial services.

kotajikikox

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Quote from: Rana590 on January 16, 2022, 02:02:51 PM

Quote from: tokyohd on October 12, 2021, 05:12:34 AM

Cryptocurrency is essential for the development of a country?
Does cryptocurrency play an effective role in the development of the country? Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

In my opinion, in this digital world, crypto currency is a important factor for a country. People want reliable and easy way and cryptocurrency can help here. Day by day people will use digital currency and we should adopt it as soon as possible.

correct and we only need to collect a perfect currency for every transaction we will do, I am not relying in Bitcoin only instead i am having alternative currencies as well .
there are several times that bitcoin fees increase too much high that we cannot make a small transaction as the fee is much higher than our funds to send so yes using altcoins is best for our dealings.
so Better to have multiple coins ready for the future but of course choose best currencies to store and hold.

rozak

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Quote from: Rana590 on January 16, 2022, 02:02:51 PM

Quote from: tokyohd on October 12, 2021, 05:12:34 AM

Cryptocurrency is essential for the development of a country?
Does cryptocurrency play an effective role in the development of the country? Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

In my opinion, in this digital world, crypto currency is a important factor for a country. People want reliable and easy way and cryptocurrency can help here. Day by day people will use digital currency and we should adopt it as soon as possible.

people's interest is only limited to investment assets. yes, the news of the spread of crypto and bitcoin has indeed grown quite quickly in the last 2-3 years. but it does not provide a strong guarantee for the adoption of government legality.
I believe, better performance is the use of blockchain technology in the government of a country. because as a currency, or an instrument of exchange that has value. Each country has different regulations.
if it is important or not. I think it all depends on the readiness of the people of that country.

Xinarae*

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Cryptocurrency is not very important for a country but it is popular all over the world but crypto is not included in any banking service. Cryptocurrencies do not match cash they are privately created assets at present they are being traded in various businesses this coin has been recognized in only one country in the world in all other countries this currency has no value. This coin was not even recognized by any administration crypto is being traded through some anonymous third party authorities but could become important if the government gives legitimacy.

Dr.Osh

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Quote from: Emitdama on January 16, 2022, 10:42:51 AM

I wouldn’t really say that it makes any huge impact in the economy such as making it better than it is, neither will I say that it would have any negative impact on the economy. Maybe when it comes to development, I think cryptocurrency can play a role in development. It all depends on the area that it is being applied. Maybe if we can apply cryptocurrency in the right areas, it would help in developments that would then make good impact in our economies and help it to grow.

But, it is not like cryptocurrency is like the all time solution that we are going to need to make an economy better, because there are already countries that have adopted cryptocurrency, but it didn’t make their country get any better than it was.

I would probably be more inclined that cryptocurrencies can be important for a country if it is actually utilized. if we look at the current state, very many people are making millions of dollars from cryptocurrencies, and if the government supports and regulates it, it is very likely that it will be profitable for a country. taxes, unemployment reduction, technology development, and much more, it will get a country that really takes advantage of cryptocurrencies. however, there are still many things that are against the government regarding crypto that are difficult to accept, and the government sees that they have quite a lot to lose. there may be many reasons for that. but, personally, I think that cryptocurrency can be very useful for the country and its people

tulusikhlas

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Quote from: bayu7adi on January 14, 2022, 04:57:57 PM

Isn't every innovation that exists can be considered useful for a country, depending on the government's response to the innovation? Although useful, but if the idea does not get permission from the government, the idea will not be important in front of a country.
The existence of government is like a big gate that connects ideas and society. When the gate is wide open and accepts ideas from creative people, their adoption in society becomes easier and begins to have an effect.
However, when the government gate does not give permission for whatever reason, then the idea will only be used by a small group of people who like the idea.
Cryptocurrencies if they continue to receive official rejection from the government, their circulation will be very slow and take longer to reach the wider community.

True, it all depends on the government responding to things like this. You're right, crypto will be a small group of people who love crypto. But we also can't blame the government why they banned it. Because we know thinking from their point of view. There may be many considerations that until now they did that.
But as a crypto user, I am optimistic that sooner or later, crypto will be accepted among them.

Desmong

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Quote from: tokyohd on October 12, 2021, 05:12:34 AM

Cryptocurrency is essential for the development of a country?
Does cryptocurrency play an effective role in the development of the country? Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

This question is either a rhetorical question or a later to be answer question because no country is looking for the downfall of it's currency which is the brain behind it's economy. Every government would always be ready to fight against what will bring down the fall of their economy which is the reason why I think your question need to answer now but can be left for the future.

Rana590

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Quote from: tokyohd on October 12, 2021, 05:12:34 AM

Cryptocurrency is essential for the development of a country?
Does cryptocurrency play an effective role in the development of the country? Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

In my opinion, in this digital world, crypto currency is a important factor for a country. People want reliable and easy way and cryptocurrency can help here. Day by day people will use digital currency and we should adopt it as soon as possible.

Emitdama

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Quote from: tokyohd on October 12, 2021, 05:12:34 AM

Cryptocurrency is essential for the development of a country?
Does cryptocurrency play an effective role in the development of the country? Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

I wouldn’t really say that it makes any huge impact in the economy such as making it better than it is, neither will I say that it would have any negative impact on the economy. Maybe when it comes to development, I think cryptocurrency can play a role in development. It all depends on the area that it is being applied. Maybe if we can apply cryptocurrency in the right areas, it would help in developments that would then make good impact in our economies and help it to grow.

But, it is not like cryptocurrency is like the all time solution that we are going to need to make an economy better, because there are already countries that have adopted cryptocurrency, but it didn’t make their country get any better than it was.

bayu7adi

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Isn't every innovation that exists can be considered useful for a country, depending on the government's response to the innovation? Although useful, but if the idea does not get permission from the government, the idea will not be important in front of a country.
The existence of government is like a big gate that connects ideas and society. When the gate is wide open and accepts ideas from creative people, their adoption in society becomes easier and begins to have an effect.
However, when the government gate does not give permission for whatever reason, then the idea will only be used by a small group of people who like the idea.
Cryptocurrencies if they continue to receive official rejection from the government, their circulation will be very slow and take longer to reach the wider community.

milewilda

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Quote from: habebe on January 14, 2022, 03:16:32 PM

Too many people are judgmental of whether it is important in a country. That's right because we know about a crypto even if it is popular and of great value, but there are countries that do not use crypto and accept is not a developing country, there are also countries that have banned a famous and rich bitcoin crypto. Clearly, determining a country’s development is not really important

Come to mind off that we had been existing before crypto market was created and stuck out with that centralized system that we've been locked on ages which on the time that crypto exist
then it did really give out that kind of option or choices for people to engage with and to mind off that not all government on a particular country does really consider its existence which
why most of them are banning or still in neutral phase and didnt decide whether they do adopt it or not.Take for example on whats happening in El Salvador on making it as a legal tender
which is Bitcoin, sooner or later they would really be finding out on what it after effects on such decision made.

habebe

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Too many people are judgmental of whether it is important in a country. That's right because we know about a crypto even if it is popular and of great value, but there are countries that do not use crypto and accept is not a developing country, there are also countries that have banned a famous and rich bitcoin crypto. Clearly, determining a country’s development is not really important

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