Rather yes than no. It is worthwhile to understand that now the volume of money in this industry is quite large, and if you create favorable conditions for work and impose adequate taxes, you can get excellent profits.
Profit is just one aspect to a multitude of sectors. Jobs are met if education and medicine system is taken care of. Profits and livelihood is achieved well when there's no corruption within the central government. I think you are only speaking for a certain individual which I would assume was yourself when you thought that a country investing in cryptocurrencies would help them develop more as a whole. In actuality I would call the leader who does this nuts because you can't just input the cumulated tax of the people for a gamble like cryptocurrency in the first place. 
Topic: Cryptocurrency is important for a country? or not... - page 8. (Read 1385 times)
It does nothing. The growth of a certain country is heavily reliant on the number of resources it has and it was able to utilize, the amount of graft and corruption in its government, and its education system. With all these three met, expect that a country is to be considered developed. In the case of bitcoin, or even any cryptocurrency for that matter, I don't see it being a direct assistance in any of these sectors to better a country's growth and development. So individually speaking bitcoin could do wonders for people, but you can't expect cryptocurrencies to help a country out of the mire it is in.
You are posting on Bitcointalk. So most likely you will get most of the positive answers from here. For me, I believe Bitcoin would help a developing country to develop more, but sadly most of the developing countries have not been allowing Bitcoin as far as I know. On the other hand, most of the developed countries allowing Bitcoin although not as a legal tender but they are not preventing users from using Bitcoin. Bitcoin could keep a major role in the economy of a country, so ultimately it will help the total economic growth.
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?
Can't say about the future but till date crypto has no role in the development of the country. The primary reason is that governments don't want to legalize decentralized crypto in their area of jurisdiction. Crypto is mostly popular among its community members and wasn't able to make any significant impact on mainstream payment methods. So the answer is negative for your query.
I don't think of any scenario in which a cryptocurrency would be important for a country's economy , I mean the fiat currency accepted within the country is the primary currency for transaction and even cryptocurrencies are accepted in the country they wouldn't be that important .
like lets consider steam , in June of 2016 when the value of BTC was just around $750-$800 steam started accepting BTC as a mode of payment then in December 2017 BTC first bubble formed and the value went up $10K for 1 BTC this fluctuation of value of BTC wasn't accounted for when steam started accepting it and then when it hit steam they declined the use of BC as mode of payment , see we can see that BTC wasn't as important as its just a mode of payment but if BTC stats to make issue they cold just stop using BTC as mode of transaction.
like lets consider steam , in June of 2016 when the value of BTC was just around $750-$800 steam started accepting BTC as a mode of payment then in December 2017 BTC first bubble formed and the value went up $10K for 1 BTC this fluctuation of value of BTC wasn't accounted for when steam started accepting it and then when it hit steam they declined the use of BC as mode of payment , see we can see that BTC wasn't as important as its just a mode of payment but if BTC stats to make issue they cold just stop using BTC as mode of transaction.
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?
It depends on a country, its current economic state and the way cryptos are used there. El Salvador made the first strong attempt to adopt cryptos as payment, as well as create favorable conditions for crypto businesses. Given the terrible economic state, it was worth the risk because this country is in a desperate need of some boost to the economy. Ukraine hasn't fully adopted cryptos yet, but it plans to do so because it also wants to improve economy this way (although not as much by using Bitcoin as money; it'll focus on regulating crypto businesses and adopting blockchain for various purposes). Developed countries aren't rushing to adopt Bitcoin or other cryptos because they are doing well and don't want change because change isn't always for the best. For China, Bitcoin was a threat because it's a decentralized form of money that cannot be controlled by the government, so they decided to restrict cryptos as mush as possible, since China loves being in control. 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?
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?
Crypto currency can only in my opinion important to the people on individual bases and not really for the government of a country since it serve as an alternative to faith currency which government has control over. As anything that is against government can't in anyway be in favor of the government but individual are benefiting in some country of the world by earning money through it and not paying taxes to the government. 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?
Crypto currency is some how over rated is am to speak from the government angel in terms of being essential for economic development of a country. Though private individual in a country are using crypto currency as a source of income but the proportion of the population can't be compared with those who are not earning anything from crypto currency and that is why one cannot say that crypto currency is essential for economic development of any nation.
Seeing from the development of the crypto world today, of course, using it as a legitimate means of payment will benefit every country, because with maximum regulation, the crypto world is the right way to add state assets, for now many people already understand how to use crypto both for investment and to make transactions, and some countries have used bitcoin as a legitimate means of payment of course this has been designed with ba. So that there are no losses in its use, then for now crypto is very important for every country.
I wouldn't call it an essential for the development of a country and I think it will never be.
Crypto is an alternative to fiat, and for sure fiat will continue to dominate the financial market. And then we still have gold being used as reserve assets for majority of the country.
We shouldn't over complicate things as see crypto as something of a miracle or magic bean, because it is not.
Crypto is an alternative to fiat, and for sure fiat will continue to dominate the financial market. And then we still have gold being used as reserve assets for majority of the country.
We shouldn't over complicate things as see crypto as something of a miracle or magic bean, because it is not.
I think we (the crypto community) went a bit far in praising the crypto , while in real world crypto adoption rate is too slow. Its not some kind of fundamental technology that is necessary for Humans. Fiat has its owns pros n cons but government will stick with it despite all odds.
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 don’t think that cryptocurrency plays either of those roles; it is not important for the development of a country, there are things that are very important and determines how well the economy of a country is going to grow and cryptocurrency is nowhere that list. As for affecting the country negatively, I don’t think that it does that, because it’s simply for transaction, except that some people do carry FUDs that it is being used by criminals which is not true, but that doesn’t affect the economy in any way. That’s just it for me.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?
If a country wants to develop, there are things they will have to be focusing on and not really cryptocurrency, maybe cryptocurrency plays a little role, but there are things that are more important in terms of development.
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?
For now it can't be said to be very important but the presence of cryptocurrencies gives great hope that anyone has the opportunity to earn additional income with the presence of cryptocurrencies, countries that legalize cryptocurrencies are proven to be able to make many citizens able to improve welfare.
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?
First and foremost, Bitcoin is not important for a country, but important for people to protect themselves and that people who do not want to rely on the more or less state-controlled monetary system (officially, central banks are often independent, but in fact they are not).
As we all already know, anything that has advantages would definitely have disadvantages also.
BTC as the boss of all Cryptos came into existence in 2009, gained massive adoption in about 4yrs time
Before then, many countries had already been developed and many were developing as well
So it would be false generalisation to say Cryptos are essential for the development of a country
The only sector in a country's economy that Cryptos would be essential in its development is the "BANKING SECTOR" as Crypto usage would bring an end to all the fraudulent acts and charges from the local banks
This in turn will create room for less manpower and many staffs of local banks will be sacked, unemployment rate increases
Which take me back to my first statement
In all, Cryptos are only essential in the development of a country's banking sector
BTC as the boss of all Cryptos came into existence in 2009, gained massive adoption in about 4yrs time
Before then, many countries had already been developed and many were developing as well
So it would be false generalisation to say Cryptos are essential for the development of a country
The only sector in a country's economy that Cryptos would be essential in its development is the "BANKING SECTOR" as Crypto usage would bring an end to all the fraudulent acts and charges from the local banks
This in turn will create room for less manpower and many staffs of local banks will be sacked, unemployment rate increases
Which take me back to my first statement
In all, Cryptos are only essential in the development of a country's banking sector
Indeed, the current level of crypto is not yet legacy and should be respected in every country, there are almost a few countries that claim their territory does not endorse crypto transactions, and it's been a long time since such statements appeared, although crypto has reached new levels but the sovereignty of these countries is still quiet with crypto and still developing the technology in their own way. Unless crypto can become a staple of the economy and become a necessity for everyone, otherwise, the future of crypto is just a fringe product and may become extinct
For now, crypto is still difficult if it becomes a staple of the economy and becomes a necessity for society. Cryptocurrency is still a commodity digital asset platform and nothing more. some real adoption has been done, but it is still very minimal. Crypto is still being developed, so that it can compete and become a tool to improve the country's economy.
Indeed, the current level of crypto is not yet legacy and should be respected in every country, there are almost a few countries that claim their territory does not endorse crypto transactions, and it's been a long time since such statements appeared, although crypto has reached new levels but the sovereignty of these countries is still quiet with crypto and still developing the technology in their own way. Unless crypto can become a staple of the economy and become a necessity for everyone, otherwise, the future of crypto is just a fringe product and may become extinct
For now, crypto is still difficult if it becomes a staple of the economy and becomes a necessity for society. Cryptocurrency is still a commodity digital asset platform and nothing more. some real adoption has been done, but it is still very minimal. Crypto is still being developed, so that it can compete and become a tool to improve the country's economy. 
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?
Cryptocurrency has the potential to change the world for the better and countries definitely should be looking at ways to use the transparent blockchain technology for tracking many different types of transactions. However the world has existed for a long time and could easily exist again without the long term need for cryptocurrency. There are much more efficient ways to handle the billions of transactions taking place each day around the world, like existing payment networks which have been running for decades. However crypto allows for a form of digital cash that could replace the coins and notes that we use now, as long as we make it sustainable which relies on being environmentally friendly aka low power usage and it needs to be more instant.
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Despite the adoption by el salvador, their government is mining bitcoin using energy derived from the volcanic activity of an active volcano, so this is an alternative energy that will save their main electrical energy.
If a country is investing money to start a mining farm, i do not have a problem but then to come out and force everyone to make transaction in Bitcoin is a different story altogether. Not sure about the real situation because unless the government enforces everyone to make Bitcoin transaction why would they protest. I want a free country without any restrictions rather than enforcing users to use one form of transaction.Despite the adoption by el salvador, their government is mining bitcoin using energy derived from the volcanic activity of an active volcano, so this is an alternative energy that will save their main electrical energy.
But in some news it is stated that the acceptance of bitcoin in el salvador also causes polemics and the destruction of bitcoin ATMs by community groups who do not agree with the acceptance of bitcoin in el salvador.
Not sure what is polemics you are talking about, destruction of Bitcoin ATM might be from oppositions parties who does not want to see these major 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?
Its a digital currency therefore it could stand or serve as same on what we are seeing on fiat now but the big difference here is that it wasnt centralized and we know on how currencies do works or function and in regarding on the question if its really literally needed for a country or important then its not really that sure.Why? Fiat do exist and we know that its doing its jobDoes 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 we know that it is impossible for fiat to be replaced by something which is totally uncontrollable.Government wouldnt really let for this thing to happen.
As long they do exist then centralized objects or things will be much preferred.
I truly agree with your statement mate that the importance of crypto depends on how the certain country uses crypto in their economy, also the importance of cryptocurrency in a certain country was also depends on the people that on the position in the government if they see crypto as a great platform to help boost their country's economy. I would like to take El Salvador as an example, the leader of this country really appreciates the huge capability of bitcoin to bring a good economy in their country that's why they legalize bitcoin.
Despite the adoption by el salvador, their government is mining bitcoin using energy derived from the volcanic activity of an active volcano, so this is an alternative energy that will save their main electrical energy.But in some news it is stated that the acceptance of bitcoin in el salvador also causes polemics and the destruction of bitcoin ATMs by community groups who do not agree with the acceptance of bitcoin in el salvador.
Cryptocurrency is definitely not responsible for the development of a country. It is just a currency and shouldn't carry so much load to its name. It is more important for an individual than it is to a country(IMO), but sadly majority of the government wants it dead and gone.
Indeed since majority of crypto users doesn't pay taxes inline with this industry and government also doesn't acknowledge its activity nor usage that's why it doesn't really give any direct benefits at all nor importance to the country yet, but hope fully we can say it yes in future since as of now in some parts of the world their government officials already trying to consider bitcoin as legal to them so hopefully this growth will come to our country to.
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