Topic: does bitcoin help in your economy? (Read 1509 times)

Bitcoin definitely has huge advantages for people to become independent of fiat money and for companies to deal easier in international trade and payments. It also helped many people that invested early on into it to become rich. Unfortunately, I wasn't one of the early adopters of Bitcoin and only started out to really save in Bitcoin when the price was already above 10,000 USD. That is why I can’t help my economy or family. In case I would make a lot of money with crypto currencies then I would definitely give money to my family and help them, but right now I am still struggling myself. As for the economy, I am also not really helping that much because I only holding most of my coins and not using it for consumption or trading. When you spend your coins you generate sale taxes for the government, when you trade your coins you make profits and have to pay taxes on your profits. But when you leave your coins in your wallet without touching them, then there is no real benefit for the government. It's the same like having your savings at home in a vault, the money is not being used and doesn't give any return for the government.

If you said so, This is about 14 years of Bitcoin in existence and you are talking about being too early to analyze or say the economic impact of Bitcoin on countries' economies. let me ask if there is no impact on the economy, Why do you think, or why would countries like El Salvador adopt Bitcoin? Institutions, Big Banks, and Blackrock all are very interested in owing some portion of Bitcoin, meaning they felt the impact before.
the profit that investors made from their investment where do you think they take it to, investing in other businesses in their locality and using it to help their family & friends too.

Of course, every time I got benefits from my Bitcoin investment or trading, it really helps our economy and our family. Some of the benefits/profits, I share with my wife. Sometimes she uses the money for our daily needs, or she will divide it for savings. It improves our financial strength, the profits can bring good impacts on the financial stability. However, I don't only get the profits from Bitcoin, there are profits got from some altcoins. Mostly, the profits on trading are from altcoins, I rarely trade Bitcoin. I prefer to use Bitcoin for a long term investment because the profits will be quite significant. Trading Bitcoin isn't a bad idea, but I think the profits aren't quite impressive.

Yes. It is not easy to earn profits, trading sometimes can be complicated because of the market situation or issues/news spreading currently. The price trend can change significantly in a short time because of an issue/news. I often experienced that the price change isn't as expected because we have bad news, so the price dropped severely for a few days. In this situation, instead of earning profits, we even got losses. Knowledge won't take a very crucial role, our mentality will be tested so much. So, not only knowledge is needed, good mentality is also crucial to have.

I can't tell how crypto has improved my country's economy if it has at all, but I can confidently say that crypto has improved a lot of lives in my country. Without crypto, a lot of people won't be where they are today. I am one of such people.

I have friends that were involved in crypto long before me, even though they've had a couple of rough patches in their journey, their lives are way better compared to when they were not involved in crypto.
Young people like me can have so many assets in their portfolio, something that was very rare before Bitcoin.
Bitcoin broke the cycle of working hard for years before you can be able to have a solid investment.
Many people, including myself, are financially independent today, thanks to Bitcoin.

People can argue that if Bitcoin improves the financial lives of individuals, then it affects the economy, and I think I agree with this. Individuals also make up the economy and if their income increases, it affects the economy because they will spend more, and that money is spent in the economy. As high as the unemployment rate is in my country, I believe it would have been at least 0.1% higher if the crypto industry didn't exist.

Bitcoin helps me to earn income at a time when there are no job vacancies for rural people like me, even though I earn more not from bitcoin directly, but what I do today if pulled straight is due to the presence of bitcoin, if there is no bitcoin maybe I will not be in a good situation as it is now, it can develop with several altcoin projects that have collaborated on investments as well as airdrops.
That is none other than the blessing of bitcoin, if there was no bitcoin maybe I would not know that and I don't know what work I do today.

Like things in this forum I get additional work through signature champaign, even though it's not much but it's enough to increase my income as a side job, bitcoin really helps me to live a better life.

I think it's normal, everyone will always try to increase asset ownership and other diversification. If I. Hodl first and when it's time to sell and get some profit I will buy land and shops and invest in buying and selling basic necessities. if all is collected I will re-invest the profits into BTC again.[/quote]

Before investing in Bitcoin or other investments, most people really have a target of what they want to achieve with their investment when it's due. Your approach is not a bad one, though, and even if you must sell your Bitcoin, you can still hold some so that when the price keeps trending high, you can still have some to sell. Although some people just want to invest, and after they have seen some profit, they will just sell and run off, bitcoin investment has two seasons, which are the bear and bull markets. It's also good if one sell during the bull market and hold the fund in fiat until the bear market, so they can reinvest.

I think it's normal, everyone will always try to increase asset ownership and other diversification. If I. Hodl first and when it's time to sell and get some profit I will buy land and shops and invest in buying and selling basic necessities. if all is collected I will re-invest the profits into BTC again.

Bitcoin offers us many opportunities. One of these opportunities is equality. If you make a good investment, the return will definitely be good. People invested in bitcoin because of their belief in bitcoin and to overcome the difficult processes in the world. Thanks to these investments, many people have earned income and benefited both their families and themselves.

What is important here is to manage our investments well. First we must have knowledge and must learn the mechanics of the market well. When we do these things right, bitcoin adds a lot of positive things to our economy.

A few days ago or a few weeks ago. I had time to feel the benefits of the profits I get from selling bitcoin. And that may not be a huge advantage. but i enjoyed it. At this time I became more excited to learn more about cryptocurrencies especially Bitcoin. And will restart my investment in bitcoin. And I hope to have more profits when Bitcoin reaches its ATH again one day.

But I should probably avoid trading short term. because I don't know enough about it. and I will learn more before deciding to start trading again.

because some time ago I experienced a loss from my short-term trading trials. and I became aware of how important it is to have insight and experience.

I understand some of the complexities and volatility that arose in the cryptocurrency market, but I must admit that compared to other investment markets crypto or bitcoin offer far better returns, and sometimes What we talk about a lot about the complexities of investing is not entirely true. But the journey that I came to know about bitcoin, witnessed many people also invest and make mistakes that I found most people do not really understand about investment and like to take risks in ignorance only until they lose. Just discovered the mistake and learned the lesson, if most of us entering the investment markets had a capital management mindset from the beginning, I believe the losses would be less, however that will hardly happen because this investment environment a lot of different problems appear and exist. The fact that bitcoin offers new investment opportunities has really been seen so far, and their potential in the future we can all speculate on the development and widespread adoption of this market.

Many people since getting to know crypto have really helped them economically,
many people have benefited from Bitcoin,
getting these profits is certainly not easy because either investing or trading in crypto is so risky that you need to have knowledge.

Always helping my family since I started getting into Bitcoin years ago and made some money through Airdrops and I was able to safe a life too in the family using crypto money, since then I believe that I have found a new financial home, somewhere I was supposed to be all along.

My parents had issues with my then, thinking I was doing some illegal things to get money at my age when I am not working until I saved my brother's life using the money I made through Crypto, till date, everything about my life is crypto and Bitcoin, I've just get better at trading, something I used to run away from because of fear of losing money.

In my life, and that of my family, Bitcoin have helped more than anything or anybody in our lives apart from the Creator who keep us alive and well, Bitcoin and crypto is a life saver.

Government against cryptocurrency is just a barrier to its development, and even if the government supports it, I don't think it will benefit that country's economy. I mean, if it can really bring intrinsic value like creating jobs that help reduce unemployment or put into practice to support other industries...At that time, cryptocurrency will benefit the national economy, but if it continues to evolve towards being just a financial market for speculation, it is hard to think that it will help the national economy.

Yes, the benefits of investing in Bitcoin really help my economy and my family. I do Bitcoin Investments as another way of saving money,
After the necessities of life are met from the salary I get from a real job, I save the rest in Bitcoin. Long term strategy is of course the best choice for me, so far I always do CDA to increase the amount of Bitcoin I have.
The $65 I got from the signature campaign really helped increase my Bitcoin amount every week. To make a mountain, need to save little by little, when the price has gone up, that's when I will make a big profit which makes my economy better.

I agree that bitcoin benefits our economy as a whole, as many investors today who had nothing before discovered bitcoin were able to build their families and receive financial support, despite the fact that many people lose money when investing in bitcoin. However, in my opinion, it is very rare to witness an investor lose their bitcoin unless they didn't sell it in order to make a profit.
Bitcoin has a negative effect when the price is low, and when the price is low, we all know that it implies that we will wait for the price to increase so that we can sell to make a profit. I'm not trying to imply that there is no risk associated with bitcoin; rather, what I'm trying to say is that there is a downside to bitcoin when the price is low.

of course, from the profit of bitcoin I can buy what I want, and from the profit of owning bitcoin I can invest a lot of crypto. with the same goal when the bullrun arrives hoping to provide other benefits besides bitcoin

There are two ways to answer this question. First investing in bitcoin hasn't helped my country's economy. People are aware about bitcoin, they are slowly and cautiously adopting it. The adoption is just to hold and nothing more. In the economy since the government hasn't sanctioned it, people hold it for personal reasons.

Has bitcoin helped my family? Not yet or not as I would want it to. Honestly, I convert some bitcoin received from my signature campaign earnings to cash and fix one or two family needs. It is like a supplementary income to that I receive from the government of my country as a public servant.

Those individuals who are holders of bitcoin gets a way of earning during harsh condition of pandemic and today as there is limited jobs so everyone wants to be a part of bitcoin investment. Bitcoin not only make your financial status better but it also proves that all there is no limitation of ages as well as genders and all will get equal opportunities but the outcomes of this investment will depends totally on the patience of a person and invested amount.

One will support his family if he succeed in bitcoin investment because at start there will be hurdles and achievement is when one learn from his mistakes instead of leaving. Some people out their savings in bitcoin and if they successfully manage their investment then surely they will be rewarded with passive income and will get the desired result.

We need to be rationale in analysing the role of crypto in global as well as in regional economic affairs. There is no doubt that Bitcoin along with many other alts has helped people in getting good ROI but it would be too early to say whether there is any impact of bitcoin in improving economic state of country. Its primarily because governments all over the world are showing strong resistance towards crypto and there is very little hope that governments may embrace crypto revolution anywhere in near future.

To improve our economy it is key to first improve our culture and ecosystem. This improvement can only occur when prosperity is linked to happiness and well-being. Also if we integrate Education on trading and investment into our school systems we can Potentially boost our economy in the future.
It is important to apply technical analysis to mitigate losses in Bitcoin. It has been observed that investing in Bitcoin can result in losses but by utilizing Technical Analysis, you can minimize the risks. Furthermore it is advisable  engage in longterm investments rather than short term investments and trading in Bitcoin as the chances of losing money are higher in the latter. So  it is recommended to pursue long-term investmant strategies in Bitcoin.