Topic: HOW BITCOIN BENEFITS THE ECONOMY? - page 8. (Read 17690 times)
As stated by Kemarit, Venezuela and Zimbabwe are the only working examples of how bitcoin could benefit the economy of the country and the people themselves. In general, the government can also adapt bitcoin as one of its reserves in the future, given that bitcoin can be paid and received into literally almost every transaction. Thing is, the amount of merchants wanting to receive payments in bitcoin isn't that much, and most are only willing to use the coin as a speculative tool rather than a currency which, IMO is its only viable use currently.
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 well known cases that help countries during their financial crisis. Zimbabwe and Venezuela. Those two nations economy was bring to the brink of financial disorders that they have abandon their own currency and introduced others like bonds. But locals have others things in mind, go to crypto specially bitcoin. But as far as other benefits it can bring to let say a nation that is financially stable, like Japan, remains to be seen. But in my view, the economy can still grow because through bitcoin, people will have more purchasing power, so when people has the ability to buy products, it will definitely translate to a country having a better economy.
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.
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