Topic: Cryptocurrency is important for a country? or not... - page 7. (Read 1389 times)
I'm not sure with that whether crypto can be said to have an important role in a country or become a destroyer in a country. what is certain is that crypto emerges and stands alone as a valuable business asset and over time crypto is growing and expanding. If you say crypto plays a role in the development of a country, i can say yes, because a country that can accept crypto means that they have followed developments. but broadly speaking, many countries accept crypto because crypto is indeed valuable and can be used for now and in the future. .
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 say essential, but bitcoin helps a country to develop itself. If you take El Salvador as an example, there is more money going into the country's economy due to remittance operations adopting bitcoin instead of using banks, which charged abusive fees. Without paying abusive fees, citizens have more money to spend with things they enjoy, what will consequently help the local businesses and economy to improve.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?
And when you have a strong economy it's a signal the country is evolving. It means the country will have more money to invest and offer better opportunities for its citizens and also for foreigner people who might be interested in investing there.
For me,I Think cryptocurrency is important in the development for a country. Already crypto-currency playing in the role.Bitcoin already a huge development Their system and huge increase price. Bitcoin price will be more increase in future.I believe that Bitcoin would be to developing in the development County is more.
I wouldn't go so fas as to say that cryptocurrency is essential for a country's development. Although, it may help a lot it doesn't necessarily mean that it is a saving grace. Countries have survived and developed without it ever since so for me, it is a plus for a country's leader to capitalize in this new innovation to help the economy grow sonce it will largely affect the unemployment rate at some point, but good governance is still the best saving grace.
Cryptocurrency as a new innovation that is put to good use is a reality that must be recognized by all countries. although some countries prohibit it and some only provide limited regulation, cryptocurrency is a valuable digital asset and has a payment technology that will be useful in the future, and is supported by blockchain technology that can be adopted for various platforms.Whether cryptocurrency is important or not depends on each country, can use it or not.
If a country thinks to make its citizens earn a better income of course crypto is an important thing, now more and more countries are legalizing bitcoin and many new business units are emerging from bitcoin acceptance, this proves that bitcoin and cryptocurrencies are important for the country.
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?
Everything in the world has a Goods and Bad side , 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?
Asking about Developmental role? of course Yes because crypto serves as fastest and safest transacting in the world of Businesses .
Asking about Extrema damage? no there might be damages if treated wrong but not Extreme , maybe Minors ?
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?
as long as there are regulations made so that there is no misuse of bitcoin, for something that can harm the country, of course it is clear that bitcoin is very helpful for economic growth. what is certain is that many can be helped with bitcoin and we do not close our eyes that bitcoin is able to provide job opportunities for those who really want to trade in crypto.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?
as long as it can be managed properly and is able to provide a clear explanation, that bitcoin is actually more profitable for the country than what might also be detrimental to the country, by pollution and excessive use of electricity.
but as long as it is profitable then the state will try to cover the shortfall that may occur due to that effect.
In my opinion crypto currencies are not so important in the development of a country. It can bring some help for problems like inflation or missing confidence of international investors in a currency. But for a developing country to only rely on crypto currencies can be risky. Most of the exports of a country are either being settled in USD or in the local currency. I don't think that it is very bad for country to rely on cryptos as long as it is not the main focus. There needs to be some commodities or some services for a country to export and rely upon. Cryptos are another form of currency that are easier to transfer and don't rely on a government, but they don't provide economic growth by itself. A government can make a profit by investing some surplus money into cryptos but its not a guarantee to make money of it.
I wouldn't go so fas as to say that cryptocurrency is essential for a country's development. Although, it may help a lot it doesn't necessarily mean that it is a saving grace. Countries have survived and developed without it ever since so for me, it is a plus for a country's leader to capitalize in this new innovation to help the economy grow sonce it will largely affect the unemployment rate at some point, but good governance is still the best saving grace.
Cryptocurrencies are not essential for the development of any country. No cryptocurrency is a country identifier. None is rooted in the economy of any country. Likewise Cryptocurrencies do not cause any damage to any country.
But Governments are built in such a way that whatever they do not control is a threat to them. Hence, the efforts by different Governments to regulate the use of Cryptocurrencies.
These can be;
1. For energy conservation
2. To monitor the system so that users will not hide under anonymity of Cryptocurrencies and unleash harm to the society. Such as money laundry, acquisition of illegal products etc.
But Governments are built in such a way that whatever they do not control is a threat to them. Hence, the efforts by different Governments to regulate the use of Cryptocurrencies.
These can be;
1. For energy conservation
2. To monitor the system so that users will not hide under anonymity of Cryptocurrencies and unleash harm to the society. Such as money laundry, acquisition of illegal products etc.
IMHO, crypto can be dangerous for the economic resilience of a country because crypto transactions are not monitored, even though economic freedom is some of the basic rights for citizens. The question is, are these citizens able to compete in global competence? If not, then the economy of a country will be destroyed because of the economic flow of untraceable cryptocurrencies.
I'm not sure about this, but I think that at the moment, cryptocurrencies do not have too much influence on the development of countries around the world. There are many other factors to measure the development of a country. There are many opinions hoping that cryptocurrencies will replace fiat currencies, but this will be very unlikely in the near future. Fiat has always been an irreplaceable choice in the financial markets of countries
From the current position, we can say that cryptocurrency is already playing a certain role in strengthening the state's economy. As far as I remember, the Japanese government noted back in 2018 that thanks to the cryptocurrency, the well-being of citizens has increased and this, in general, has a positive effect on the economy of the state.
However, in other aspects, cryptocurrency is unlikely to have any noticeable positive impact on the development of the state.
However, in other aspects, cryptocurrency is unlikely to have any noticeable positive impact on the development of the state.
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?
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 think it is not essential for the development of a country BUT crypto helps the people and economy to eliminate high transaction fees, trust issues about the fiat and transparency issues. Bitcoin is a decentralized network which elimates the need for third parties like intermediaries or the agent who oversees the transactions and to put the power and responsibility into the currency owners hand which whoever he/she wishes to send it to.
Ofcourse it does not hinders the development of a country, instead it offers more options for the people for a fast and secure transactions with low transaction fees.
Cryptocurrency is essential for the development of a country?
yes if the government will accept crypto with open hands , sure this is very essential.Quote
Does cryptocurrency play an effective role in the development of the country?
it is , the decentralization will help each country developed independently .Quote
Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?
damage can only take part once abusing comes and that is depending in the capabilities of that said country What do you think about this?
to enforce law and rules.
I don't know if it's essential for the development of a country or not... Depends on how you use it, I think crypto can be an amazing factor to foster development in especially developing countries. If it's seen as a currency, rather than an investment, for instance. It would make the money exchange/transfer so much easier, stimulating the economy. Also, the anonymity and privacy can actually change people's lives.
Cryptocurrency is essential for the development of a country?
Essential No. But useful yes.Quote
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?
Both can happen. I would like to draw a similarity with science which can be both a boon and a bane depending on the person who is using it.It also depends on what your idea of "Development" is. Technological advancement does not always mean overall development. Of course blockchain tech development is being used in many industrial sectors and banking so blockchain gets an upper hand over what traditionally crypto has been known for. Most governments have been pro-blockchain but anti-crypto.
For the overall development of a country, I feel crypto has a miniscule role as of now. If the economic impact of crypto becomes bigger, we may see changes.
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?
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 matter depends on the current economic status of the country we are talking about. For those countries that belong to the third world or developing countries just yet, it is possible that the cryptocurrency will have an effective role in its development. Perhaps the adoption of crypto in their country can boost their economy due to the taxation in exchange for its legality. This will serve as the government's profit for every transaction and investment the citizens will make.
However, if the country is already developed and is soaring high just like the US and European countries, cryptocurrency's role in their economic growth is negligible. Because for every developed and first world countries, they don't rely on crypto as much since there are different aspects and field of industries they can make profit with, particularly small, medium, and big enterprises, businesses, and other departments such as tourism, agriculture, fishery, and the likes. Crypto is just another alternative for them because their local currency is strong enough. Hence, there is no reason for them to accept such coins as legal tender. Unless, of course, if their government just wants to.
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?
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 consider it really essential as to some countries can really live off without cryptocurrency around, as for the underdeveloped countries, cryptocurrency can be beneficial but not entirely essential, it cannot remove poverty, it can only improve one's status.
It doesn't hinder a country's development but it can potentially be of help, specifically for the citizens.
Cryptocurrency is essential for the development of a country?
of course, let's imagine the following:
in country Z has 10 exchanges
there are 10 mining companies
there are hundreds of people who use cryptocurrencies
and the government of country Z collects taxes, with these taxes the government of country Z will have money to make expenses
the owners of the mining companies and exchanges in country Z will make a lot of profits and will be employing more people in their mining companies and exchanges
investors and trades in country Z will also make profits and with that they will develop country Z
Jump to: