Topic: Cryptocurrency is important for a country? or not... - page 9. (Read 1385 times)
crypto is very flexible for usability. crypto can help the country and it can also damage the country. for example if crypto is used for donation media, legal transaction media, and trade by imposing taxes I think it can be a positive thing and help the country. but if crypto is used for money laundering, terrorism and illegal acts it can be a destroyer of the country. I think it depends on the use of crypto itself, especially bitcoin
Important for a country for what? As financial support? As currency? or business? or era?
Actually, this will depend on what kind of cryptocurrency environment is in that country. Moreover, it will also relate to how the regulation about crypto itself in the country.
As what in my country, crypto is not legal as a currency but legal as a commodity asset. And with the help of this new regulation, many more people are coming to the crypto world. Many are failed in this crypto world. But many people are also having a better and better life after joining crypto. The country can also get some income from some exchanges regulated and listed in the country regulation and law. This is like giving a positive side of crypto to the country and its society. But if it is about the importance, I cannot say about that
Actually, this will depend on what kind of cryptocurrency environment is in that country. Moreover, it will also relate to how the regulation about crypto itself in the country.
As what in my country, crypto is not legal as a currency but legal as a commodity asset. And with the help of this new regulation, many more people are coming to the crypto world. Many are failed in this crypto world. But many people are also having a better and better life after joining crypto. The country can also get some income from some exchanges regulated and listed in the country regulation and law. This is like giving a positive side of crypto to the country and its society. But if it is about the importance, I cannot say about that
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?
A decade ago, when crypto currencies didn't exist, did it hamper the development of any country? No, it didn't. The countries were still able to move forward. A country doesn't need crypto currencies to develop. They have their fiat currency which is enough. But having cryptocurrencies might make things easier and faster for the country to develop. But it will hinder the development of the country if the government doesn't know how to properly regulate the currency. People will be using it to commit crimes and illegal activities at ease which will cause extreme damage to the 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?
Maybe cryptocurrencies are not essential for the development of a country but they are very beneficial for the economy of a country. They are not essential because countries were already able to develop more and more in the absence of the cryptocurrency market. But this market is very helpful for the economy as the governments collect a lot of taxes thanks to it.
To me i see Cryptocurrency as an eye opener to the traditional Fiat system and its bring in lots of opportunities that provide suitable solution to developing countries in terms of their economy stability, indepency, reduction of inflation, hoading of commodites, decentralization of currency, employment, digital asset, less cost for transaction charges, fast and reliable exchanges, infrastructural development among others.
You don't have to rely on government policy and protocols before you can carryout your daily business transactions and securing your assets, its a freedom liberation era whereby individuals has control over the system as to when and how to operate it. Cryptocurrency is one of the eye opener to stable economy.
The only main challenges is that it may not be effectively utilize by the remote areas as it need a tech-wise experience and the idea of third party to be involved is not a good idea, then the scam involved can be discouraging especially on newbies.
You don't have to rely on government policy and protocols before you can carryout your daily business transactions and securing your assets, its a freedom liberation era whereby individuals has control over the system as to when and how to operate it. Cryptocurrency is one of the eye opener to stable economy.
The only main challenges is that it may not be effectively utilize by the remote areas as it need a tech-wise experience and the idea of third party to be involved is not a good idea, then the scam involved can be discouraging especially on newbies.
Okay, I understand your queries. Now first, what do we believe about how a country develops? Who is behind developing a country? If you think it's only the government, then you are absolutely wrong. If the government can develop a country, then there will be no undeveloped countries in this world. We all know that people are behind in any country's development. If any country's people are financially stable, then the countries will develop rapidly. How people become financially stable by working When a country's 70-80% of its people are working, then countries develop. Because the work earns money, then pays government tax, and from that money, the government helps to make something for their people, so that they can do more work. And in this way, a country developed.
Now about bitcoin. What does bitcoin give us? Obviously, financial stability and the ability to get more profit, like other businesses, can be achieved. In this way, we can generate income, pay tax, and help to grow the economy. And this government can develop our country.
So we can say, yeah, bitcoin can also help a country develop.
Now about bitcoin. What does bitcoin give us? Obviously, financial stability and the ability to get more profit, like other businesses, can be achieved. In this way, we can generate income, pay tax, and help to grow the economy. And this government can develop our country.
So we can say, yeah, bitcoin can also help a country develop.
most countries today don't seem to need bitcoin in its entirety. but it is undeniable that cryptocurrencies can help the economy of individuals in each country. many people study crypto to change professions or find additional income, and now there are countries that have started to fully use bitcoin, but I think it still takes time for big countries
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
Cryptocurrency is important in every country mostly in countries that are not very developed and countries which the rate of employment is high. In such countries cryptocurrency can be very big advantage where individuals can take part in crypto by investing to make earning. Cryptocurrency is also an advantage to every country because looking at cryptocurrency it's a future for the next generation.
most countries today don't seem to need bitcoin in its entirety. but it is undeniable that cryptocurrencies can help the economy of individuals in each country. many people study crypto to change professions or find additional income, and now there are countries that have started to fully use bitcoin, but I think it still takes time for big countries
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?
If such country can enact law towards legalization of cryptocurrencies thus that government will benefits from taxes accrue from cryptos transactions this will in a long run increase the government revenue or source of income which will be channel towards infrastructural development in the country, however a lot of countries are skeptical about adopting cryptocurrencies or don't have the technical know-how that can track or trace crypto transactions, while some undeveloped countries believes that cryptos transactions can bypass all sort of taxes being decentralized and can be transacted anonymously. 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's not really a necessity but it would help. We all know that countries have survived even with just the presence of first before and the existence of cryptocurrency these days has provided convenience and helped the growth of the economy since most unemployed people relied on it during this pandemic. It has a big role yet countries could still survive with fiat.
I will say Cryptocurrency is important for any country, but not necessarily essential for the development of a country from a direct point but indirectly from this sense. The aggregate of income which is gross income in a country will, in turn, measures the growth and development of an Economy. The profit realized from the investment in any Crypto business as a way of coming back to the Economy
If Crypto can be utilized properly then it will be very important for the country to increase revenue and economic development of the country, but for now not a few countries that start using crypto as a legitimate means of payment, then with the current era of digital currencies are increasingly popular among the public, especially bitcoin, and we all as crypto users are very hopeful that our country can quickly legalize bitcoin to be safer for the internet. Ita use it.
everything is still strictly regulated. not many enforce crypto-like bitcoin for transactions in place of fiat.see whether it is important or not, I believe every country has its view and analysis of crypto. because there is indeed a big risk related to the readiness of countries in managing their country's economy digitally.
Cryptocurrency is essential for the development of a country?
Absolutely no. Crypto doesn't offer anything fundamentally better, except for control over own money, which most people don't need and don't want. Cryptocurrency isn't even theoretically suitable for being a backbone of the economy, because there's still no coin that can scale to millions of active users, and without central bank its price is too volatile.
I guess OP should clarify exactly what he/she means by country? Country as in its citizens, or the government?
Crypto could scale towards millions, it already is right now. A developing country needs to establish a strong currency, and there isn't any downside to adopting crypto because the currency is already developed and widely used. It makes international commerce more convenient, and provides a reliable fiscal system that isn't dependent on central control.
If Crypto can be utilized properly then it will be very important for the country to increase revenue and economic development of the country, but for now not a few countries that start using crypto as a legitimate means of payment, then with the current era of digital currencies are increasingly popular among the public, especially bitcoin, and we all as crypto users are very hopeful that our country can quickly legalize bitcoin to be safer for the internet. Ita use it.
IMO, cryptocurrencies may tend to help a country to develop technologically. however, I don't feel that cryptocurrencies will hinder a country, because people who adopt crypto sometimes build a workforce and make people work. it will help a country in reducing unemployment. I think, cryptocurrency is a technology that has great potential in terms of being important for improving the quality of a country.
If there are people who doubt that crypto can help a country become better, then that person doesn't really know crypto. Because crypto can prove
to be a source of income, so if a country rejects crypto, meaning that the country missed the opportunity to help the economy of its citizens.
Especially with the pandemic situation that has not yet ended, almost all countries the number of unemployed continues to increase. One solution is
to legalize crypto, because by legalizing crypto it can help people who have lost their jobs to earn money from crypto. Therefore I am among those
who agree that crypto is indeed very important for the development of a country, especially in the field of technology.
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 but it gives an opportunity to any country that adopts it because its a product of technological innovation as we all know that we are living on edge of the technological revolution that's why we need to try something new especially in the financial sector because our dilapidated financial infrastructure has already obsolete and I think cryptocurrency will be one of the best choices to complement of our existing financial services.
IMO, cryptocurrencies may tend to help a country to develop technologically. however, I don't feel that cryptocurrencies will hinder a country, because people who adopt crypto sometimes build a workforce and make people work. it will help a country in reducing unemployment. I think, cryptocurrency is a technology that has great potential in terms of being important for improving the quality of a country.
What we already know is that Bitcoin can advance citizens and reduce poverty is of course related to many things that can be done with Bitcoin so that people can make a certain profit, take advantage of its advantages and compliment people's life in the necessities of life.
But regarding the development of the state and government, I don't think it is fully seen that it really plays an important role in the development of the country, there are many who still consider many things related to cryptocurrencies for all their characteristics.
However, it does not rule out the possibility for the countries to develop if their governments are able to adapt well to Bitcoin and everything in it.
But regarding the development of the state and government, I don't think it is fully seen that it really plays an important role in the development of the country, there are many who still consider many things related to cryptocurrencies for all their characteristics.
However, it does not rule out the possibility for the countries to develop if their governments are able to adapt well to Bitcoin and everything in it.
No we don't know that hehe, if Bitcoin can advance citizens and reduce poverty, then show me one example, just one, where this is done.
I like Bitcoin and it's the best thing in terms of tech I have ever come across (even better than smartphones to me) but I wouldn't say it's the solution to everything and for sure not for poverty.
We're talking more about a system of money here more than economic justice.
Important or unimportant depends on how the country uses cryptocurrencies. If a country adopts cryptocurrency, of course they have a good cause for their country.
Currently, several developing countries provide regulation of cryptocurrency only as a commodity asset and cannot be a legal medium of exchange, that's because crypto has high volatility and is still very risky.
However, several other countries have fully adopted bitcoin such as El Salvador and other countries have followed suit.
Currently, several developing countries provide regulation of cryptocurrency only as a commodity asset and cannot be a legal medium of exchange, that's because crypto has high volatility and is still very risky.
However, several other countries have fully adopted bitcoin such as El Salvador and other countries have followed suit.
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.
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