Topic: Cryptocurrency is important for a country? or not... - page 6. (Read 1385 times)

I don't think every country will adopt Bitcoin as their primary currency it's like "Allowing an external source to control your economic affairs" And it creates many exploits within the financial sector of the country, It's better if every country creates their own cryptocurrency, I think Iraq is already doing it.

If you say it is important for the development of the country, I think your statement is not objective, crypto as an investment vessel for the benefit of its users. If crypto can overcome the instability of a country, I think all countries in the world will use crypto and there is no country in the world that prohibits it. I can't say crypto will give negative value to countries that legalize it. Looking at crypto users, they get the positive side which is financial freedom. It is possible that crypto will have a better impact on everyone in the world if they continue to invest in it.

Yes of course this cryptocurrency plays an immense role for a country. As such, Bitcoin is not legal in our country.But 90 percent of the people in this country are unemployed. They are not getting jobs but 10 to 40 percent of the people are making a living by using this bitcoin.Considering your words, we can see that we do not do any job but by working on this bitcoin we are earning enough money inshallah.So I think this bitcoin plays an immense role for a country. Without this bitcoin, the number of unemployed people in the country would have increased.

speaking of criminal matters, the thing that needs to be understood is that even Fiat is still often used for criminal matters, well that's a fact.
however, since most cryptocurrencies are decentralized, the reason the government doesn't accept it as a means of payment is because it has an unstable value, and there are many other reasons. however, whether it is important or not depends on a country using it. if it can make people prosperous, then I think it can be important. however, like in China, I think cryptocurrencies are considered a disadvantage there.

I think Cryptocurrency is important for a country. It has many benefits:
It provides a favourite activity and earning source to all ages of communities.
We can start our business through cryptocurrency with a small amount but all other traditional businesses demand huge capital.
It is seen that cryptocurrency made many poor rich and useful citizens through margin trading.
It provides a souces of income for all especially third-world countries where unemployment is a major problem. So There is a need that all the countries of the world should not only favour it but also legalise it.

Cryptocurrency is just one of those areas that the world has shown to be advanced, so it isn’t bad if we also have it and make use of it, but that doesn’t mean that without cryptocurrency that the world won’t be able to develop. Moreover, if you look into this you will see that mostly what we need cryptocurrency for is just for transaction and for investment, unless you’re talking about the blockchain which can be implemented in different areas in the industries. At the same time that we have lived centuries without having cryptocurrency and the world was able to develop. So, if we should take out cryptocurrency today we’re still going to be able to keep developing but with cryptocurrencies we might have different growth rate due to its obvious applications.

every currency is important so what more this Digital currency? each countries has their own Physical currency but none has their own Virtual currencies(crypto to be specific) we have seen the opportunity and advantage of crypto in our lives , this even give people a power over banks and even government.
so my answer is definitely YES for the importance of cryptocurrency in MY country or even the whole world.

Only those people who adopt and enjoyed using Bitcoin will gain some benefits but not all. What I mean is that even the country is legalizing and adopting Bitcoin it doesn't mean that all of their countrymen are also using this, many were still not seeing this as beneficial but just a useless technology especially when they can never use it to buy and pay our bills.
That is why I don't think it was necessary nor it is a must coz we are still able to survive without this thing. Kinda be optional.

I think bitcoin currently doesn't have much benefit for the country, because many countries haven't legalized it, so the scope of bitcoin can't do much more. but with bitcoin it indirectly creates jobs in the midst of the current covid pandemic

I consider cryptocurrencies to be a big step at the development of technologies. I think that those countries which are adopting crypto now, will benefit a lot in the future. On the other hand, not all authorities approve of crypto. It is decentralised and uncontrolled, so they can't regulate it, that is why they can't let it develop as they don't want to lose control over finances.

Maybe you’re right, in a particular area which is banking and finance, of course I would say that bitcoin is really development, because since it came out it has really brought a lot of changes with it in the way things are being done, and every central bank wants to own their own digital currencies.

So yes, it does help in development in some certain areas, but I wouldn’t really say that it is essential for the development or is it? And the way the op put it was wrong, because he or she made it seem like what they are trying to ask is whether it is generally essential for the development of a country, which in that case I am going to say No.

I don't think that cryptocurrency will make a certain country's economy recovery, even though we have seen the great benefits of having cryptocurrency, I still don't think that it will be the solution for every country's financial problem because cryptocurrency is just a "currency" or just an alternative for fiat.
This one, this is true, it is really good for someone or person who wants to earn money and feel the freedom, best example for this is those students who have already gain huge amount of profit in cryptocurrency compared on those persons who have their real life work.

actually it all depends on the readiness of the country, if you don't prepare regulations beforehand, it can clearly create losses that will occur. but it is clear that crypto plays a very important role for the economic progress of a country if it can be implemented properly, because clearly there are many benefits compared to something that is not useful.

it is unlikely that crypto will actually hinder development in a wider development in a country that is willing to accept crypto. it is clear that it is certain that they will receive convenience to carry out transactions, not to mention economic growth for the people who also want to trade in crypto, thereby increasing income which will continue to grow,

It is clear, however, that if every individual can receive the benefits from crypto, there will be income, which is exactly what you say you will contribute to the economic development of the country. because the results of trading in crypto will excite the country's economic development.

The barrier you are referring to could be due to the nature of crypto itself which no one will be able to control. but as a government, if you have prepared regulations that can help so that there are no deviations, you can do it as long as it is for a good cause, of course, not to hinder it.

Cryptocurrency is essential for the development of a country. I don't think cryptocurrency can play a big role in the development of a country.
However, it may have a cryptocurrency role in the development of a country but it is not essential. I think every country will feel the need for cryptocurrency when the cryptocurrency reaches a new height in the coming days.

Great article

Cryptocurrencies can be helpful for the development of an individual, if every individuals are developing in a country means the country itself is going to be in the development track.

When we are talking about the government, they may see cryptocurrency as a hindrance for them due to the transparency of blockchain technology since governments never wanted people to have the complete freedom.

Perhaps, many were still looking forward to seeing Bitcoin become legal in such a way that they can use Bitcoin without any worries of getting caught and put in jail for some illegal reasons. Let say it was not necessary, but maybe just for now. As the development continues, I guess they should be open to this technology and adopt the system.

We can't argue how the government pushing to the limit to stop fraud and some illegalities but I think, they should have to take a look on the other side where they can see the advantage of Bitcoin, not just only the negative.

Its a digital currency wherein no physical money probably an alternative way but you know it's hard to tell because there are some problem with crypto such how it can used to any crimes and untraceable reason some government were against in it. so probably it's not essential for a country to have a good development, although it has the fastest growth rate than real fiats. Perhaps it's not a valid reason.  

Cant really be denied that it was life saving in terms of finances but only limited into those people who had able to have some good grasps of crypto opportunities which i do believe that it is really just less.

Honestly, it isnt really that important for a country because it does already have fiat when it comes to payment system.Crypto's existence is really just good when in talks about being decentralized.

So it turns out that people do ending up on having some options to take and not just sticking with that typical fiat.

Yes cryptocurrency is definitely important for a country. Especially in our country cryptocurrency has no legitimacy yet we are using this cryptocurrency in a very nice way and our unemployment I have come to solve the problem. And if there was no cryptocurrency, we would have had a hard time.A little bit of this cryptocurrency has given life a much better future. I think this cryptocurrency is playing a very important role for a country.