Economic effects of bitcoins - page 2.

fianaindriati

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Quote from: tbterryboy on November 11, 2017, 03:07:27 AM

Quote from: Carmen01 on November 06, 2017, 11:11:11 AM

Bitcoin give us extra income here so in economics they give our country to become rich its also good for transaction and to save our moneh here in hard wallet i think bitcoin is need by any person in any country because this give us much conveniece for our good work here and to have many ideas to earn

For sure there is an impact and a hard influence for bitcoin on the economy of a country. When one community is assessed, the individuals living in there are responsible for the least results of that community. So as when you talk about bitcoin, it has given so much chances to everyone to work and earn. Like, for all idles there are jobs if they want to do. So it have impact.

as far as I know every thing we do must have risks or impact. because in doing something that makes us successful it must be a hitch, so we tested like that we also have to be strong in living it.
such as bitcoin that has been running but still there are continuing problems faced.

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Economy is blooming with bitcoins implemented for the infrastructure system

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Quote from: shalnark on November 06, 2017, 07:37:23 PM

Quote from: Seansky on November 06, 2017, 07:16:36 PM

Quote from: megynacuna on November 06, 2017, 06:55:12 PM

Exactly, decentralization is one major economic effect that bitcoin users can adopt in their respective lives because that has gotten the governments and the central banks hooked because they can't control and regulate how money inflows should be which has always favoured them against the citizenry.

Because of decentralization, some governments want to not legalize bitcoin which is hindering cryptos from aiding in economical state of a country but it is also the factor that will cause a devastating effect for the common good. By using bitcoin and cryptocurrencies, citizens who don't bring physical money as well as merchants doesn't need middlemen(which is commonly credit card) in order to get in a successful transaction.

I agree decentralization of bitcoin has good enough reason to failed tracking the bitcoin in our community by the government. For now bitcoin have good effect to our economy because thru help of this program more jobless people were found a work. Status of some average peoples are incredibly increasing because of crypto currency.

the effects of the bitcoin of the economy today are still good, but we also do not know in the future how the development of bitcoin. because the government has also been in action to track bitcoin users as well, maybe when it is traced, then the government will not legalize bitcoin or otherwise we never know.

tbterryboy

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Quote from: Carmen01 on November 06, 2017, 11:11:11 AM

Bitcoin give us extra income here so in economics they give our country to become rich its also good for transaction and to save our moneh here in hard wallet i think bitcoin is need by any person in any country because this give us much conveniece for our good work here and to have many ideas to earn

For sure there is an impact and a hard influence for bitcoin on the economy of a country. When one community is assessed, the individuals living in there are responsible for the least results of that community. So as when you talk about bitcoin, it has given so much chances to everyone to work and earn. Like, for all idles there are jobs if they want to do. So it have impact.

shalnark

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Quote from: Seansky on November 06, 2017, 07:16:36 PM

Quote from: megynacuna on November 06, 2017, 06:55:12 PM

Exactly, decentralization is one major economic effect that bitcoin users can adopt in their respective lives because that has gotten the governments and the central banks hooked because they can't control and regulate how money inflows should be which has always favoured them against the citizenry.

Because of decentralization, some governments want to not legalize bitcoin which is hindering cryptos from aiding in economical state of a country but it is also the factor that will cause a devastating effect for the common good. By using bitcoin and cryptocurrencies, citizens who don't bring physical money as well as merchants doesn't need middlemen(which is commonly credit card) in order to get in a successful transaction.

I agree decentralization of bitcoin has good enough reason to failed tracking the bitcoin in our community by the government. For now bitcoin have good effect to our economy because thru help of this program more jobless people were found a work. Status of some average peoples are incredibly increasing because of crypto currency.

Razick

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Quote from: Seansky on November 06, 2017, 07:16:36 PM

Quote from: megynacuna on November 06, 2017, 06:55:12 PM

Exactly, decentralization is one major economic effect that bitcoin users can adopt in their respective lives because that has gotten the governments and the central banks hooked because they can't control and regulate how money inflows should be which has always favoured them against the citizenry.

Because of decentralization, some governments want to not legalize bitcoin which is hindering cryptos from aiding in economical state of a country but it is also the factor that will cause a devastating effect for the common good. By using bitcoin and cryptocurrencies, citizens who don't bring physical money as well as merchants doesn't need middlemen(which is commonly credit card) in order to get in a successful transaction.

Governments also need a way to track and trace spending, which cryptocurrency makes impossible to do. Bitcoin itself is only pseudo-anonymous - good enough right now as resources are not available to track everyone, but in the future only currencies such as Monero will be guaranteed safe from such tracking.

Seansky

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Quote from: megynacuna on November 06, 2017, 06:55:12 PM

Exactly, decentralization is one major economic effect that bitcoin users can adopt in their respective lives because that has gotten the governments and the central banks hooked because they can't control and regulate how money inflows should be which has always favoured them against the citizenry.

Because of decentralization, some governments want to not legalize bitcoin which is hindering cryptos from aiding in economical state of a country but it is also the factor that will cause a devastating effect for the common good. By using bitcoin and cryptocurrencies, citizens who don't bring physical money as well as merchants doesn't need middlemen(which is commonly credit card) in order to get in a successful transaction.

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Quote from: Barnabe on August 07, 2016, 11:59:58 AM

This could be possible, but if no one has done it until now, there is little chance they manage to do it in a few years. As bitcoin becomes more and more popular, industries will use it too. But if they have to trust bitcoin, they will probably pay a lot of money to review all the code (to see if their investment is safe).

But if someone cracks it anyway, we should expect a rollback.

Rollback will certainly be out out of the question, as BTC value are based on the demand of the folks that use it, but if something like this happened BTC will certainly crash because no one would trust the technology anymore, thus the hacker/s will not gain anything of value than piss a lot of people.

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Quote from: megynacuna on November 06, 2017, 06:55:12 PM

Quote from: peterthegreat on November 06, 2017, 06:17:58 PM

The economic effect of Bitcoin will be one of decentralization. Everything is centralized nowadays when it comes to systems that the current economy uses to transact in. Commerce is controlled right now, but Bitcoin is borderless and has no owners so this gives people the power as the current financial system is doomed and everyone is moving into crypto where BTC reigns supreme.

Exactly, decentralization is one major economic effect that bitcoin users can adopt in their respective lives because that has gotten the governments and the central banks hooked because they can't control and regulate how money inflows should be which has always favoured them against the citizenry.

Do you think Bitcoin will always stay decentralized? There are plenty of things that were decentralized in history and became centralized out of almost sheer necessity. Anyway, some banks are getting into crypto and blockchain technology at this very moment, including mine.

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Quote from: khaled0111 on November 06, 2017, 05:50:29 PM

No one can steal all bitcoins if such thing is possible it would be done in the past. Such thing will never happen and if someone find a way to do something like that i think he will be intelligent enough to know that stealing all bitcoins is not a good thing because they will have no value: who will buy something that can be stolen at any time?B Bitcoin is based on trust, more trust means more value.

i dont think so, bitcoin is digital currency therefore it is online so it is still prone to attacks by hackers and viruses if you are careless about using it. ive seen many reports that their bitcoins had been steal to thier actuall wallet because of phising , so i guess it can also happen to you and all of us who uses bitcoin. stealling bitcoins is a good thing for them because they can sell them to earn a profit effortlessly.

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Quote from: peterthegreat on November 06, 2017, 06:17:58 PM

The economic effect of Bitcoin will be one of decentralization. Everything is centralized nowadays when it comes to systems that the current economy uses to transact in. Commerce is controlled right now, but Bitcoin is borderless and has no owners so this gives people the power as the current financial system is doomed and everyone is moving into crypto where BTC reigns supreme.

Exactly, decentralization is one major economic effect that bitcoin users can adopt in their respective lives because that has gotten the governments and the central banks hooked because they can't control and regulate how money inflows should be which has always favoured them against the citizenry.

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The economic effect of Bitcoin will be one of decentralization. Everything is centralized nowadays when it comes to systems that the current economy uses to transact in. Commerce is controlled right now, but Bitcoin is borderless and has no owners so this gives people the power as the current financial system is doomed and everyone is moving into crypto where BTC reigns supreme.

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Quote from: Gohs on August 07, 2016, 11:44:07 AM

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

I don't really think that would be possible at all. The only possibility for it to happen, is if someone or a group of people manage to find some king of exploit in the bitcoin code, or on the blockchain, and with so many eyes on it I really think its impossible for that to happen. Anyway, if it did happen I don't think he would be able to do anything with it. At the exact moment some exploit is found bitcoin would lose it's value, so that brilliant mind would have gotten his hands on a useless coin.

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No one can steal all bitcoins if such thing is possible it would be done in the past. Such thing will never happen and if someone find a way to do something like that i think he will be intelligent enough to know that stealing all bitcoins is not a good thing because they will have no value: who will buy something that can be stolen at any time?B Bitcoin is based on trust, more trust means more value.

betMaster

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Quote from: Gohs on August 07, 2016, 11:44:07 AM

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

You can't underestimate bitcoin's security or how hard and complex it is to override the smart contracts that define bitcoin itself , it's transactions and it's uses . So unless that person doesn't have access to at least 51% of bitcoin's overall value , he really can't change anything or hack anything in it . And the problem isn't really if some guy hacks into it , the 1st step to the whole thing is the world accepting it and recognizing bitcoin as a official payment method which isn't likely to happen in my opinion (at least for the following 10 years ) , since there's a lot to correct and make stable in bitcoin's features especially the fluctuation . Only then governments and markets will fully accept bitcoin , and this is for holders the ultimate dream .

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Quote from: Happy Miner on November 06, 2017, 04:01:30 PM

Quote from: Gohs on August 07, 2016, 11:44:07 AM

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

If they steal, the money will not disappear without a trace. Someone will spend it and in the end everything will return to the beginning.

Bitcoin is a digital currency system and it is good to know that all online transaction process of moving are controled, from one of the best currency and it's fully support by internet so economic are not affect to Bitcoin system.

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Quote from: Gohs on August 07, 2016, 11:44:07 AM

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

If they steal, the money will not disappear without a trace. Someone will spend it and in the end everything will return to the beginning.

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It is not 100% mined yet as the total number of bitcoin's supply are 16 Million and there's more to come per halving. I don't someone genius will be able to stolen majority of the bitcoins that people are holding or that's circulating in the market. Even the burned bitcoins will not be recovered as all of them are lost forever, a very impossible thing with an open mind.

sofi@

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I don't think even a genius can hacked all bitcoin in the market because doing so will require him to get into the system of almost hundreds of wallet used world wide that's good thing about bitcoin although it can only be access thru internet still it is placed in different online wallets which I think is a good control. Witg regards to economic factor just in case bitcoin will be the main currency I think this will help the economy since no more taxes will be imposed and it will also allows transactions outside the countries

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The economic consequences of bitcoin can be enormous but we see that people can convert bitcoin into a bubble. Decentralization does not exclude joint action. There is a discussion of the miners and developers, but no one is interested in the views of users. Instead of creating conditions for the use of bitcoin as a currency it was turned into a stock exchange asset inflated by speculative capital.

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