Topic: How Bitcoin Can play its role to overcome the Financial Crises - page 2. (Read 262 times)

Bitcoin can help you individually but it can not help a nation to overcome a big financial crisis or a global economic recession.

At a personal scale, it is easy to improve your financial status but at a national scale, it's harder and you can not make big changes with only one factor like Bitcoin. A nation has many components to make up its economy, society and a lot of other components which all interact with each other. Bitcoin can not change all of those components and can not improve a whole nation economy and finance as the only decisive component.

To change, a nation need more than Bitcoin and if it has only Bitcoin, it is an impossible mission for Bitcoin to change that nation.

Since the creation of Bitcoin, there hasn't technically been a global economic crisis, so it's still unknown how it would perform. It did bounce back pretty fast after the pandemic announcement and the initial major drop, and it's sometimes actively used in countries suffering from particularly high inflation, but that's not enough. The main points about the features of Bitcoin and how they can be useful are true, but how people actually behave in an economic crisis can be very different, as people aren't actually always rational beings who assess all the pros and cons before making decisions that best serve their interests.

Bitcoin has become a safe haven for some countries resident to fight high inflaction. People from venezuela, argentina, lebanon uses bitcoin to send money to their friends and families in times of financial crisis in those countries. Cross border payments is a great usecase that bitcoin has till your government figure it our and impose high taxation for such transaction.

However there are many ways in which bitcoin can asist you fight financial crisis. It's not widely accepted in global market so use it in local business where banking sector is in crisis can be great idea.

It's not that easy to send anymore because most of the time, you're still going to convert your bitcoins to cash anyway and with more people aware of bitcoin as a means to make money, I think that taxation of bitcoin sent across borders will be an inevitable thing to happen. But you're right it's definitely a good thing compared to the alternatives. Regarding safety of funds, that still depends on how you secure it, if you're lackadaisical about your security and just store your bitcoin in an exchange like Binance or in any wallet where you don't have the keys to the wallet then you've got the most flimsiest of security in your coins.

I don't think bitcoin alone would be enough to save you from a financial crisis, remember that there's going to more things happening around during a financial crisis, if you don't have a large or colossal bitcoin nest egg, then you're going to still feel the pains of financial crisis because you're going to need a job which is lacking when there's a financial crisis.

Introduction:

In this Topic, I will try my best to cover some advantages like how BTC playing its important role in the era of Financial Crises.
Financial crises can be giving hard times for economies, where plebs have to live hand to mouth but what the negative point here these people have lack of education About Bitcoin like their pro’s and con’s and leaving people and organizations in searching of their stability and safety. In this modern era of digital world, Bitcoin is putting an important effort as a game-changer, where most of the poor people getting help from Bitcoin during their financial crises. So, Let's try to explore Somehow Bitcoin is becoming a key player in these hard situations of financial crises.

Bitcoin's Special Feature as a decentralized Currency:

How BTC playing its role as a decentralized currency? Just Imagine if real money wasn't controlled by the government or any big organization of country this imagination relates very well with Bitcoin Currency. So, there is not control of any government or big institutions over Bitcoin currency, this is why Bitcoin known as decentralized and trusted currency which makes it a Good and trusted choice when traditional money is in risk. That is how both are different from each other.

You can also read this blog if you want to have more idea about decentralization and centralization and their pros and cons.

Centralization and decentralization


Safe and trusted Digital Asset:

Why People used to call Bitcoin In sense of "digital gold?" Because whenever regular money gets non-trustable like it drops its value, on the other hand Bitcoin can be a safe currency place to keep your funds in the form of asset. It's limited in supply, which makes it feel stable. It also makes it value depend on the market sentiments. Like people can set their goal in this field after adopting it. They just need to focus and set clear goals weather they want to enter in this field as trader of holder.

I suggest newbies when they enter in this field start from holding some assets and try to know different techniques from seniors. After that they should take positive action.

Easy way to Send Money Across Borders:

During financial crises, where plebs live hand to mouth from those, some of the people rely on money sent by their family members working in other countries and doing work in BTC and earn from it they are supporting their family members all across the border adopting transaction the form of cryptocurrency. Bitcoin is one of the great example for this because it's a quick and low-cost way to send money across borders, instead of traditional money although we know regular banks aren't working so well.

Easy to get access to the money services:

In some places, the regular money system isn't reliable so far as bitcoin. But even during the financial crises, people want to get access to basic money services easily. Bitcoin can help out through all the way for making transaction at low cost from here to there easily because all time availability on the internet and through smartphones makes it more important which making it easier for more people to get the financial help throughout the internet whenever they need help or support from their family members.

Blockchain technology Making Things Transparent and Honest:

We need to Know how blockchain making transection honest and transparent. So, let’s just Imagine if each of our financial transaction was recorded for everyone to see like where is money actually coming from and where it is going, and then no one could be able to make any changes in it after transaction has been done. That's what Bitcoin's technology or blockchain technology called. It helps keep things honest and transparent during financial crises, like making sure that relief money goes where it's supposed to which is thing very positive point. Like no one can do scam with your money until you make any false transaction from your side.


Easy way for securing you money:

When there's a financial crisis or thing get tough, people might want to move their funds somewhere safer so that they can feel relaxed and easy. Adopting Bitcoin and moves their fund into digital world makes it easy because it doesn't care about borders which mean everyone can move their fund into the bitcoin in the form of their secured assets. It lets you move your money quickly and privately where no one has any kind of hold on it due to its decentralization benefit. 

Conclusion:

Bitcoin is becoming one of the safest and important technique during financial crises in this modern era. It is helping to provide stability, honesty, and financial freedom to people funds where no other one has any access to their assets, even though Bitcoin also has some challenges like price fluctuation. So, it is obvious that Bitcoin is changing and getting most adoptable day by day like how we deal with financial crises in this time.
As we know how uncertain financial times around the world happening, we need to pay attention like how Bitcoin can help us to overcome in the financial crises and tough time. It's not all about making it a trend somehow, it's a big rotate that we all need to think about and adapt to by giving it time and having knowledge, spreading knowledge about it. So, what we need to do? We have to give our time to this field to overcome our financial crises. The key is that how much we give our time to this field we learn that much about it.