HOW BITCOIN BENEFITS THE ECONOMY? - page 6.

so98nn

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Quote from: Kapee on July 19, 2018, 09:06:20 PM

The government in most countries have decided to ban Bitcoin and cryptocurrency as a whole. I begin to wonder why the government for these countries have taken such an initiative. Any idea on the benefits bitcoin offers to the economy? Help me convince my government to accept Bitcoin.

Saying that most countries have decided to ban bitcoin is a blatant exaggeration. Even in some of the countries where it is banned like India, people are protesting against the unreasonable move. The problem with some countries is that of tax evasion, for example in India's case the cryptocurrency boom of 2017 saw a huge amount of people gambling on bitcoin, as a result a lot of scams were setup and because it is unregulated the government had to take some action against it.

I think this censure is unlikely to hold in the future, as countries will realize that cryptos are something they just have to learn to embrace to fully utilize their benifit, even though they might seem scary at first.

shawn995

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the greatest factor why numerous nations forbid the utilization of bitcoin is a direct result of the exceptionally fluctuating bitcoin cost, consequently the legislature is extremely apprehensive that this bitcoin vacillation will influence the economy in that nation. while bitcoin has the best favorable position for the economy. fiat cash has diminished in esteem or in the economy can be called expansion, while the bitcoin esteem the more drawn out the higher. with the order of bitcoin the nation over, there will be no imposing business model on the utilization of cash and installments crosswise over nations that can be coordinated no esteem is squandered.

ucingucingan

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Unlimited amount and distance transactions are one of the advantages of using Bitcoi, transaction costs are very cheap and even close to zero, this is certainly a very profitable thing if you want to send large amounts of money abroad that are very far away

ss890

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What do you mean by help you convince your government to accept the bitcoin? Huh

Its not your decision at all, though bitcoin is publicly accessible and anyone can use it then also its your local authorities who will decide whether to accept the bitcoin transaction within the country or not?

I think bitcoin is anyway unless for driving good economy within the country. Bitcoin is widely spread over the globe and thus it is not about any specific country because of which the wealth gets distributed +/- to each and every country that is using it. Thus its effect on the economics is really lesser.

gamalzour

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Quote from: ajqjjj on July 20, 2018, 10:50:11 AM

Quote from: Kapee on July 19, 2018, 09:06:20 PM

The government in most countries have decided to ban Bitcoin and cryptocurrency as a whole. I begin to wonder why the government for these countries have taken such an initiative. Any idea on the benefits bitcoin offers to the economy? Help me convince my government to accept Bitcoin.

Government is depends on the president and ministers so they are all expecting our security because I saw many government beneficiary only have more asset. So Cryptocurrency is legalised in entire world automatically this will be globalised in future. So peoples are aware in new technology but government which countries are not favourable in people that country is avoiding the Crypto legalisation.

You are right about the transaction cost being reduced by Bitcoin. There are more and wise advantages Bitcoin has like employing people by allowing them to invest the little they have. This was not found in the traditional market and Bitcoin imparted the financial freedom.

High profit is what everyone likes about Bitcoin. The fact that it is decentralized has made it more secure and blockchain adds further to the security thereby reducing the risk in the investment.

bungutko

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I believe that bitcoin has a great benefit to the economy of a certain country. Banning of bitcoin from a certain country is actually a mistake in which bitcoin can be an opportunity to the people to invest and earn money even without any investment involved such as joining bounty campaigns. People that do not have jobs may able to start themselves to get involved in bitcoin to earn profit and able to supplement the basic needs like food, clothing and shelter to their family.

Twentyonepaylots

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Quote from: adzino on July 21, 2018, 07:07:40 AM

Quote from: Kapee on July 19, 2018, 09:06:20 PM

The government in most countries have decided to ban Bitcoin and cryptocurrency as a whole. I begin to wonder why the government for these countries have taken such an initiative. Any idea on the benefits bitcoin offers to the economy? Help me convince my government to accept Bitcoin.

There are just few selected under developed countries that are filled with corruptions that banned bitcoin and other crypto currencies. No regulations, nothing. Just a direct ban hammer on the usage of crypto currencies. Those countries are the one that thinks that bitcoin will be used for illegal activities. Such irony, since they are the ones that are doing most of the under the table activities that are stopping and hampering the development of their country.

There is no direct effects on countries Economy from Bitcoin, This a Decentralized system of digital transaction, no government participation, it individual transaction on cryptro market, Banned are implemented in some countries for simple reason they want to have control on crypto market transaction.

BlueStackz

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WHY THE CAPS LOCK ON THO? I think bitcoin provides people with a currency that can not be controlled by the goverment and the regulations that dollars are so used to. Dollar is shaped the way what companies lobby poltiicans to shape it.

Unfortunately the richer gets richer and poor gets poorer in dollar markets. Yet in bitcoin there is only 21 million bitcoin, which means even the millionaires of the worth can't all have 1, there are more than 21 million people who are millionares, that means if all millionaires tried to own 1 bitcoin, they can't. It creates an equal opportunity chance to poor people and rich people.

Beegovere

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Quote from: btcluisdiki on July 21, 2018, 04:09:33 AM

I believe bitcoin may able to help an economy in a country where there are less opportunities for the people to earn an income. With bitcoin, people from such countries could be able to participate and earn like joining bounty campaigns. Once these people can start to earn profit, then they can already spend their money for the basic needs and probably can alleviate their economic condition to a much comfortable life.

Bitcoin provides opportunities to earn money from their investment in it. When people have money, they will use it and the circle will continue. By this way the economy of the country will grow more and more. People will be happy and they will not put burden of unemployment on government shoulders. When it is centralize and government impose tax on the profit, the revenue will increase and the country will be prosperous.

himtater87

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Quote from: btcluisdiki on July 21, 2018, 04:09:33 AM

I believe bitcoin may able to help an economy in a country where there are less opportunities for the people to earn an income. With bitcoin, people from such countries could be able to participate and earn like joining bounty campaigns. Once these people can start to earn profit, then they can already spend their money for the basic needs and probably can alleviate their economic condition to a much comfortable life.

Those countries take advantages of bitcoin that legalized and accepted bitcoin. People will freely invest their money in cryptocurrency and the market cap will increase and so their profit. People with huge money can make their contribution for the betterment of the economy of their country. I am making money in crypto investment and I have demands from my government.

dante golo

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If my view of bitcoin actually have a positive impact on one's life because by trying to invest they have the opportunity to earn an income every time so that it helps the economy to be better than ever.

kasurnya

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I think if for bitcoin state level still not so far.
bitcoin helps provide jobs for the unemployed, and is also useful as an investment asset.

SixOfFive

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Quote from: Kapee on July 19, 2018, 09:06:20 PM

The government in most countries have decided to ban Bitcoin and cryptocurrency as a whole. I begin to wonder why the government for these countries have taken such an initiative. Any idea on the benefits bitcoin offers to the economy? Help me convince my government to accept Bitcoin.

I don’t think so that Bitcoin has much direct impact on the economy of the country. The adoption of Bitcoin is not so huge so as to affect the economy of a country. And the government has many reasons to ban the cryptocurrencies like it allows access to dark web, do illegal activities without disclosing the identity, money laundering, etc. also cryptocurrencies can threaten the position of banks.

liivii

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Unemployed people are the ones benefits from Bitcoin because it's hard to get a job in my country, more unemployed individuals try their luck here in crypto currency and the good thing here is that no matter what your status in life as long as you have goals and determination to succeed in life you can try this industry. And as day passes more and more people are hooked up in this trend that even your at home as long as you have the connection you can earn money.

shunga

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Quote from: Kapee on July 19, 2018, 09:06:20 PM

The government in most countries have decided to ban Bitcoin and cryptocurrency as a whole. I begin to wonder why the government for these countries have taken such an initiative. Any idea on the benefits bitcoin offers to the economy? Help me convince my government to accept Bitcoin.

Actually its so simple it helps to reduce the unemployment people because of bitcoin people drives them to use bitcoin to earn some income. So that if they earn using this they can provides their needs.

nyerok

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I think the reason is because the government can not control bitcoin. And if we trading in bitcoin we may make a profit from bitcoin. But if the price of bitcoin is going down we do not panic and sell everything. Just hold it until the price up

Kuroko-chi

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Quote from: Kapee on July 19, 2018, 09:06:20 PM

The government in most countries have decided to ban Bitcoin and cryptocurrency as a whole. I begin to wonder why the government for these countries have taken such an initiative. Any idea on the benefits bitcoin offers to the economy? Help me convince my government to accept Bitcoin.

So far there are 2 surely understood cases that assistance nations amid their money related emergency. Zimbabwe and Venezuela. Those two countries economy was convey to the verge of money related disarranges that they have surrender their own cash and presented others like securities. Be that as it may, local people have others things at the top of the priority list, go to crypto uniquely bitcoin. In any case, the extent that different advantages it can convey to let say a country that is fiscally steady, similar to Japan, stays to be seen. Yet, in my view, the economy can at present develop in light of the fact that through bitcoin, individuals will have all the more obtaining power, so when individuals can purchase items, it will mean a nation having a superior economy.

the13thsymphony

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Bitcoin and cryptocurrency benefits the economy in a way that is not initially intended as it was supposed to be a mode of payment or transferring money with lesser fees, more security and much faster than any centralized system with the use of decentralization, however instead that it is used that way it is used more like an asset and traded in an everyday basis like in forex or stock exchange and this is how it helps the economies as small time investors can multiply their investments in a much quicker way than those in the forex or stock exchange with a greater risk.

Also with its decentralized nature where the people are in charge of how it runs along with untraceable people that use the blockchain it is hard for the governments to trace who is who and they cannot tax the people who uses it that is why some banks and government bans them.

Sergio444

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Bitcoin has helped most unemployed and university students in my country. Many are now able to pay their school fees with bitcoin. I think these governments have not taking their time to learn more about this bitcoin. Because most presidents are too busy to have time to learn about what exactly blockchain technology is. I think that is the cause of these bans. But to be honest, bitcoin has really stabilize the finances of may individuals who embraced it.

DOLONCHAPA

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It is actually not like that . Most of the countries all over the world approve BTC or other Cryptocurrency. A lot of international market place now allow BTC as a payment system. I'm not sure why people look after the countries who are messing up with the bitcoin and why not look at those countries who are taking step forward and trying to accept bitcoin with great accuracy. I mean why not talk about the Japan, European countries and Swiss countries who are accepting the crypto currencies and are also giving people chance to make up their mind to use them on large scale.

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