Topic: does bitcoin help in your economy? - page 9. (Read 1509 times)

I was just referring to the personal benefits. So the first thing comes to mind has to be trading. And there's a saying that goes something like this, "If you help yourself, you will help the others in the process." Keeping that in the mind, when you earn profits from bitcoin trading or anything that brings profit to you, that helps your life, thus helping the economy too. That's how I think, and I guess you agree with that too. 

This is why there are so many poor nations that are looking into ways to accept bitcoin while taxing it properly. It means that millions of people in a poor nation could be put to task to earn crypto from microtasks, including even bounties, if you worked 8 hours everyday in crypto world, you could earn hundreds of dollars, 40% of that as tax would mean that there would be billions going into taxes and that could be used to make the nation so much better.

Of course it is not common for many nations yet, only a few are doing it but we are going to start seeing more and more, I believe China would benefit from this at the same time as well, would work so much better.

In my country, it is not allowed to send money abroad except for investors who own companies to provide all the evidence confirming their need to send that money.  I mean, almost most of those who work as freelancers on the Internet do not have a way to buy products they need in their work or a way to accept their wages.  All these problems have found a solution since the emergence of Bitcoin, and we (the youth) can work on the Internet and use global services without the need to go through the official channels of the state.  This change contributed to improving the per capita income of a large segment of young workers (I am one of them).  Honestly, this has contributed to improving the living situation and the family's economy in general.

Here in our country, it is not strict with cryptocurrency or bitcoin, because some local wallets accept the blockchain concept, such as coinsph, abra, maya app, gcash soon, and others.

So I think that these merchants who accept bitcoin as a mode of payment will help the economy of our country here. But in other countries bitcoin is still restricted to them.

If we have invested with BTC. I think there are many reasons to believe that over time, the use of bitcoin will continue to help our economy and that of our families. Increased profits can lead to an increase in the level of expertise in this business, which also has a positive effect on the economy.

e.g. yes, As the value of bitcoin rises, those holding their coins and waiting to sell may see the value of their investment increase. At the same time, even if people spend bitcoins to buy things with their digital money, it is still a boon for many businesses around the world.

In short, yes, bitcoin can help.

If you have knowledge of any trading, then you can earn good profit not only from crypto but from trading like stock or commodity  also. The main thing is how much knowledge you have about that industry, and that comes with how much effort you put in learning that industry.
To me bitcoin has helped a lot. Specially the bitcoin I earn from signature campaigns are helping me to fight the 38% inflation rate in my country( highest inflation ever in my country).

I'm a little disappointed. Disappointed by some people's belief that bitcoin can help the ECONOMY.
Once again I repeat - it CANNOT and never will. Moreover, it can create a situation where you believe in bitcoin and miss the opportunity for real change. Let's explain.
If we talk about the economy of the STATE, this is a very complex mechanism. But one of the key processes is the transformation of "raw materials" into a finished "product". And at this stage, a very important indicator is formed - the added value. At the same time, the "accompanying process" is jobs, taxes, and the development of industries.

And the higher the added value is formed (subject to an acceptable market price), the more money the economy receives and is able to provide social programs, pay pensions, provide good living conditions in the country, and much more. The process can be anything - from digging coal and turning it into fuel for thermal power plants, to digging sand and turning it into processors. Only in the first case, the added value will be small - 10-50-100% (for 100% of the cost of production), and the second option gives hundreds of thousands of percent of the added value.
I hope it's just understandable.
And now the main question - how does bitcoin generate the added value? The answer is NO! This is just a speculative asset, and nothing more. It has no value, it is not backed by anything, as a resource it does not turn into some other product. Do not be fooled by the belief in "all-saving bitcoin", otherwise you will miss the opportunity to really change and improve the situation in your country/life.
You can use bitcoin only by understanding the peculiarities of the market, and only for personal enrichment!

As long as you earn profit or receive bitcoin from microtasks, it can help you and the economy. It is not just circling in trading because as long as you earn extra money because of bitcoin, you will buy it to meet your needs, which includes tax, and that tax can help out the economy. It has a really ripple effect on this. Also, having a business can help you generate more employment as well as services or foods for others that still contribute to the economy.

I think this is appropriate, because to hope for good luck to ourselves, of course, we have to make efforts beforehand. But if there are no efforts that we have made before but immediately expect luck to come by itself, it will be very difficult to happen because luck is an uncertain thing even though it can come to anyone unexpectedly.

This means that you have made a little effort by studying and then expecting good results and luck in it, I don't think that's wrong. But it also needs to be underlined that your economy can be helped because you can benefit through Bitcoin and that also includes luck for yourself. Even if you just hope for a good profit without reminding about luck.

If you have enough knowledge, and you know how to trade to make profit, then yes. It does help. You don't even have to go out to do it. Work from home you know! But to be good on this platform and if you want to depend only on this, then you will have to put a lot of effort in it and be a pro. But this being having a high risk, it is advised to proceed with caution. You may end up losing, because even the pro traders lose too.
So when you are making profits, yes you can help your economy and family.

Anyone should have fundamental knowledge before starting to invest in Bitcoin, they are too risky to engage in crypto investment without knowledge and only want multiple profits in short-term trades, bitcoin price positions are never stable and they are very easily affected by fraudulent news, many beginner trading schemes cut losses Because avoiding losses without focusing on assets being used for long-term investments, the solution is never to review the market all the time and it is better to have other busy jobs for extra income increasing funds in the bitcoin investment portfolio.

For some people who focus on the industry, mainly seeking profits in Bitcoin trading or in other ways, of course Bitcoin can help their economy. However, if there is no in-depth knowledge of cryptocurrencies, one will easily incur losses, either investing or trading Bitcoin, Because most  of those who are just getting into this industry, they really hope to get profits quickly, they fully expect multiple profits and not interspersed with other jobs that can make money so that the economy can get worse after knowing Bitcoin without knowledge of how it works.

In my opinion, you have learned many lessons in this market and gained quite a bit of experience. Bring you a pretty good income from Bitcoin .
For me everything is still quite new, I definitely need to improve my trading knowledge and give up the meaning of luck in the Bitcoin crypto market.

luck will not have much effect on investment, instead destruction will come if we only hope for luck.
as far as you are familiar with Bitcoin then there is a little luck for you to be able to pave the way for profit or side money to supplement your income but it all comes back to your will and belief to want to continue to learn things that will bring you profit, that's important.

for my personal experience, as far as I know Bitcoin it has helped improve my economy so far, but again it's all inseparable from the trading knowledge that I learned and a number of other things that also don't only come because of luck alone.

Bitcoin hasn't really helped my economy yet, but Bitcoin gives me an opportunity, shows me a money-making market. As for whether it helps my economy or not, I think it's down to luck, or the wise investment of each person in this market.

People often dream about making a fortune in this market, and while such results are possible only a very small minority get them, stories like yours are way more common, stories in which the person got a small boost to their economy, but in most cases that is all what you need as such stimulus saved yourself from having to save money for years in order to get what you wanted, and this is an advantage that compounds especially if the money that you got from bitcoin is used to produce more money as you begin your own business or you invest that money in other assets.

I think a country allowing bitcoin is rather symbolic that they are dynamic, open and flexible to new concepts where you may not fully understand the end results. The blockchain idea itself is a master piece and has many practical uses in keeping transactions in a ledger, however it is not perfect (nor is much in life). Bitcoin itself won't help a country necessarily unless it has a wide pool of users, people that want to buy, sell or trade in a different form of currency. There could be lots of different reasons people want to do that, they may not trust the government or other authorities, they find it more convenient than paying fees to banks or numerous other reasons.

That's basically the reason why most people are interested in bitcoin already. Of course there are a lot of people who invested and care about it for their future, but there are plenty of people who use it for that AND also use it for daily stuff as well.

I am one of those people, bitcoin allows me to live a good life, not because I just invest into it, which I do, but because I work for it as well, by job is in the crypto world and I get paid in crypto. All in all it is obvious that we shouldn't be really worried about anything in this regard, because it is definitely a good thing for all of us to be invested into crypto, it allows us to have a good return in our profits and hard work.

Bitcoin has changed the economy for my life in the last few years. long story short in the past or rather in the last few years I bought bitcoin for the first time at a fairly cheap price and sold it gradually over the last 3 years and still hold it to this day. from the profits I was able to buy some land for me to manage in my daily work and that's the sweetest story I've ever experienced.

some people do have a higher profit ratio because they invest large amounts, but some people lose money because they sell when the market is bearish.

Well, you can't lose if you HODL. You only lose if you buy high and sell low. Buy and hodl and you'll be fine. Impossible to lose. The longer you hodl the more profitable you're going to be. And then you could (and should) help your family (if they need your help) why not?