Cryptocurrency usage will boost economy or make it worst ? - page 2.

Sanugarid

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Quote from: Spaffin on February 16, 2020, 02:40:46 AM

Quote from: Silberman on February 14, 2020, 12:25:19 PM

Quote from: travwill on February 11, 2020, 12:36:43 PM

I do not think that the use of bitcoin will somehow affect the economy, because it is just a currency. The economy is primarily affected by investments and commodity circulation.
If you start using bitcoins and investing them in the country's infrastructure, then this can lead to very positive consequences.

All financial transactions should also be carried out in bitcoin, so you can switch to cryptocurrency and untie it from pricing in the context of fiat.

A currency is a medium of exchange and the way to try to answer the question about the value of each thing, so it is obvious cryptocurrencies are going to have a huge effect on the economy especially if fiat currencies begin to show their flaws and people lose their faith in them, I really think that cryptocurrencies are going to have a positive effect on the economy at large but we will need decades to see that effect on full force.

In many countries, leadership and governments very often harm the economy and development of their state. One of the facts of such a mediocre leadership of the country is frequent inflation due to an increase in the amount of paper money. The government is printing new money, but does not care about the gold reserve, which should support this money. If the cryptocurrency is used as cash, then this problem should disappear by itself, since for example Bitcoin has a limited amount.

I totally agree with this one because come to think of it if everyone is using cryptocurrency on their every transaction. It has a big effect not only on the economy but on the community also because the more we use it the more people will know about cryptocurrency and if that is continuously happening, there is a big possibility that we can gain investors to support every project on the community. There are lots of benefits when you use cryptocurrency the primary one is that it will make your transaction easier and faster than making a transaction with fiat. It is also less hassle because you can transact anywhere in the world as long as you have an internet connection.

Quote from: Eduarop on February 16, 2020, 03:37:38 AM

I think that because the issuance of cryptocurrency is limited, the credit economy will not be able to get money "out of thin air". This means that the economy will develop at times slower and deflationary, which will stop people from buying goods every day

When there's lot of people already earning with an investment involving cryptocurrency. Just think that they will have a money to spend, more spending more taxes the government can get, and my opinion is that it can really help the economy. The taxes I'm saying is not on the bank but to their financial expenses already.

Eduarop

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I think that because the issuance of cryptocurrency is limited, the credit economy will not be able to get money "out of thin air". This means that the economy will develop at times slower and deflationary, which will stop people from buying goods every day

Spaffin

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Quote from: Silberman on February 14, 2020, 12:25:19 PM

Quote from: travwill on February 11, 2020, 12:36:43 PM

I do not think that the use of bitcoin will somehow affect the economy, because it is just a currency. The economy is primarily affected by investments and commodity circulation.
If you start using bitcoins and investing them in the country's infrastructure, then this can lead to very positive consequences.

All financial transactions should also be carried out in bitcoin, so you can switch to cryptocurrency and untie it from pricing in the context of fiat.

A currency is a medium of exchange and the way to try to answer the question about the value of each thing, so it is obvious cryptocurrencies are going to have a huge effect on the economy especially if fiat currencies begin to show their flaws and people lose their faith in them, I really think that cryptocurrencies are going to have a positive effect on the economy at large but we will need decades to see that effect on full force.

In many countries, leadership and governments very often harm the economy and development of their state. One of the facts of such a mediocre leadership of the country is frequent inflation due to an increase in the amount of paper money. The government is printing new money, but does not care about the gold reserve, which should support this money. If the cryptocurrency is used as cash, then this problem should disappear by itself, since for example Bitcoin has a limited amount.

Silberman

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Quote from: travwill on February 11, 2020, 12:36:43 PM

I do not think that the use of bitcoin will somehow affect the economy, because it is just a currency. The economy is primarily affected by investments and commodity circulation.
If you start using bitcoins and investing them in the country's infrastructure, then this can lead to very positive consequences.

All financial transactions should also be carried out in bitcoin, so you can switch to cryptocurrency and untie it from pricing in the context of fiat.

A currency is a medium of exchange and the way to try to answer the question about the value of each thing, so it is obvious cryptocurrencies are going to have a huge effect on the economy especially if fiat currencies begin to show their flaws and people lose their faith in them, I really think that cryptocurrencies are going to have a positive effect on the economy at large but we will need decades to see that effect on full force.

travwill

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The use of cryptocurrency by large corporations at first will lead to an exponential increase in the growth of cryptocurrencies, because this will be a signal that you need to buy it right now, a signal that the whole world is switching to cryptocurrency, everyone will want to catch the departing train. However, then the price will fall, because the entire cryptocurrency market is extremely speculative.

I do not think that the use of bitcoin will somehow affect the economy, because it is just a currency. The economy is primarily affected by investments and commodity circulation.
If you start using bitcoins and investing them in the country's infrastructure, then this can lead to very positive consequences.

All financial transactions should also be carried out in bitcoin, so you can switch to cryptocurrency and untie it from pricing in the context of fiat.

Wipeout2097

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I am in favor of cryptocurrency will boost the economy,Both ways directly and indirectly crypotcurrency can be good indicator of the economy.But unfortunately government and central banks consider crypto is bad indicator for the economy.

Cryptocurrency open many opportunities for individuals,investor and traders.Jobless youth can independently earn from the crypto.If government legalize crypto can reduce the unemployment ratio and generate revenue from the crypto transactions.

lixer

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We all hope it will boost the economy, we want anything that can boost the economy to boost it because to be fair right now we are in the very weird times of rich being super rich and poor being very poor again. It is not like roman times when public had hard time finding decent food to eat while elites are having excess food and let others fight each other to death Cheesy

.

Things are not that bad, we are certainly doing better compared to 300+ years ago however when there is a chance to have people live so so much better thanks to developments, it is sad to see the gap yet again, things were a lot better in wealth gap 50-90 years ago, it is once again worse even if not THAT worse. Yet I think if anything will fix the economy, that will be policies and laws, not crypto.

CaVO32

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Quote from: Findingnemo on January 26, 2020, 03:24:19 PM

Quote from: klava1983 on January 26, 2020, 12:13:17 PM

I can't imagine that cryptocurrency usage may have such a big influence on the world economy. I consider it as a result of the developed economy.

Cryptos are in the way of being a part of world's economy that is why we are facing regulatory issues on decentralized currencies. But sure cryptos have the potential to reach a place that influences the world's economy if everyone tends to know about cryptos.

transparency is one thing that blockchain technology is addressing. if there will be transparency in the government, i think there will be less corruption and will boost the economy. aside from the fact that blockchain technology will save huge amount of money in terms of operations. the use of crypto within the operations of any business will smoothen the transactions at a very low cost. so i believe the usage of crypto will help the economy and not make it worst. if only people will know how to truly utilize crypto, they will reap the benefits of using it.

Zicadis

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Quote from: worldofcoins on January 26, 2020, 05:39:54 PM

Quote from: Negotiation on January 25, 2020, 03:14:31 AM

The government of our country always wants tax The government does not receive any tax from using crypto If the government is regularly taxed using cryptocurrency it will boost the economy of our country. Virtual currency usage and transactions will be very dynamic Big companies will control this and the government will pay for the improvement.

Indeed the government is not going to support the use of cryptos unless they're getting some sort of tax out of it.
Until and unless there are people ready to accept crypto as their paycheck i doubt there will be any issues.
If there's a regulated Cryptocurrency that can be taxed and their addresses are linked to SSN then there's another payment method for an economy which is a plus point and for sure it's going to boost it.

That's pretty much what the Chinese are looking to implement with the Digital Yuan I believe.

So long as it can be tracked just like regular currency, and linked to an individual just like regular current, I doubt governments will care.

But in the end, it does revolve around tax. If a cryptocurrency enables people to easily dodge tax, you can bet the government wont back it.

If it makes taxation easier, I can't see many governments complaining.

STT

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I could be trading people marbles and still be liable to taxes, crypto doesnt exclude the idea of paying tax. The only connection is the idea to hide the open accounts every business must report, people already do this with FIAT. Its called cooking the books where they keep a fake book to hand to IRS and a real book where cash deals are used to avoid any paperwork trail.

Not really a crypto problem, like alot of negatives left at the door of crypto it already exists and may even be easier to do in Dollar note form due to the endless liquidity running into trillions. Crypto records every transaction forever, its actually worse then plain paper to keep secrets fairly sure.

worldofcoins

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Quote from: Negotiation on January 25, 2020, 03:14:31 AM

The government of our country always wants tax The government does not receive any tax from using crypto If the government is regularly taxed using cryptocurrency it will boost the economy of our country. Virtual currency usage and transactions will be very dynamic Big companies will control this and the government will pay for the improvement.

Indeed the government is not going to support the use of cryptos unless they're getting some sort of tax out of it.
Until and unless there are people ready to accept crypto as their paycheck i doubt there will be any issues.
If there's a regulated Cryptocurrency that can be taxed and their addresses are linked to SSN then there's another payment method for an economy which is a plus point and for sure it's going to boost it.

Findingnemo

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Quote from: klava1983 on January 26, 2020, 12:13:17 PM

I can't imagine that cryptocurrency usage may have such a big influence on the world economy. I consider it as a result of the developed economy.

Cryptos are in the way of being a part of world's economy that is why we are facing regulatory issues on decentralized currencies. But sure cryptos have the potential to reach a place that influences the world's economy if everyone tends to know about cryptos.

klava1983

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I can't imagine that cryptocurrency usage may have such a big influence on the world economy. I consider it as a result of the developed economy.

monineklutak

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depending on where the crypto currency is used, the crypto currency is decentralized, of course there is nothing to regulate, unlike a country currency like USD, if Bitcoin will replace the spread of the USD then we will see changes in the world economy without the United States

Pinkris128

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Quote from: Wysi on October 27, 2019, 06:03:11 AM

What if all those big corporates and businesses starts using crypto as a mode of payment just to avoid tax which will cause a direct loss to the government which uses tax for the betterment of the country. This might not affect corrupt countries as it doesn't matter because tax money goes to politician's coffers but what about developed nations?

Earning and using cryptocurrency will definitely avoid businesses and big corporates from paying taxes that it will have a bad effect to the economy because a country will lose a lot of funds. But i don't think that the government will let big businesses and corporates from not paying taxes because they will still find a way for them to pay taxes.

Silberman

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Quote from: Paycoinzzz on January 21, 2020, 08:47:12 AM

Quote from: Wysi on October 27, 2019, 06:03:11 AM

What if all those big corporates and businesses starts using crypto as a mode of payment just to avoid tax which will cause a direct loss to the government which uses tax for the betterment of the country. This might not affect corrupt countries as it doesn't matter because tax money goes to politician's coffers but what about developed nations?

In my opinion, it will have a rather bad effect on the economy in general, not in particular with corrupt countries. Because humans are not controlled by the law, we will turn into a more evil and more ambitious person. then people will no longer use fiat money, they will directly use crypto to manipulate like the whales did and will make the decentralized market spark. That is also the consequence that governments around the world do not want, so they have to make quite a lot of laws for crypto.

I do not agree with this statement, people are worried about governments and their inability to get enough funding if cryptocurrencies take off, but we are living in a strange age, governments are bigger than ever and they want to be even bigger, but during most of history governments were small and cryptocurrencies will allow us to get back to those days, the economy will become more efficient as we need to pay less taxes to a smaller government, a big government is a hindrance to the economy and not a boost.

Kevondo

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Quote from: julius caesar on January 23, 2020, 11:41:17 PM

Quote from: Wysi on October 27, 2019, 06:03:11 AM

What if all those big corporates and businesses starts using crypto as a mode of payment just to avoid tax which will cause a direct loss to the government which uses tax for the betterment of the country. This might not affect corrupt countries as it doesn't matter because tax money goes to politician's coffers but what about developed nations?

It will probably gonna boost the economy of a specific country because we all know that cryptocurrency provides a faster transaction. The faster the transaction the faster the movement of the economy that is why if they accept crypto as a part of their transaction, it will for surely gonna have a huge impact to the economy.

Transaction is just one aspect through which economy can boost via usage off crypto currencies. Apart from moving money faster, crypto currencies are capable of boosting the economy of country because their values keep on increasing and with a little investment, one is able to make great profits. The adoption of crypto currencies will also create new business which is going to help government in reducing unemployment rate.

stabledev

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A cryptocurrency that flexed its new coin supply in tandem with adoption, and reduced new coin supply in correlation with Moore's law, would absorb volatility a lot better than something like Bitcoin. Like, if adoption increased 1%, the supply would increase 1%, so tangible good prices denoted in that crypto would remain stable, even if the fiat prices fluctuated.

fiulpro

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Economy is a very complex thing , which is made even more complicated by the politicians and government officials .
Economy is more or so always welcomes new forms of trade / transactions / e-cash anything .
Because if economy is not flexible and meeting the demand of the new world and being upto date with everything, unfortunately that economy won't survive for too long .
It will ofc boost the economy , convince me otherwise.

Negotiation

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The government of our country always wants tax The government does not receive any tax from using crypto If the government is regularly taxed using cryptocurrency it will boost the economy of our country. Virtual currency usage and transactions will be very dynamic Big companies will control this and the government will pay for the improvement.

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