Bitcoins are good for an economy because they provide more independence and diversification for merchants, investors and gamblers. Bitcoins enable the users a cheap alternative to fiat currencies. The only problem a country and its economy face is that they are giving up its monetary policy monopoly. Which is not a bad thing. It only becomes bad once crypto currencies are misused for illegal activities. If investors use bitcoins to avoid paying taxes its a bad thing. Tax evasion hurts an economy a lot, but most tax issues are done with cash in fiat and not cryptos.
Topic: Is Bitcoin good for the economy? (Read 986 times)
Bitcoins have three useful qualities in a currency, according to The Economist in January 2015: they are "hard to earn, limited in supply and easy to verify". Economists define money as a store of value, a medium of exchange and a unit of account, and agree that bitcoin has some way to go to meet all these criteria.
Yes, and that's just theory. While Bitcoin has all the qualities of being a useful currency, the core part is how people use bitcoin 
Until now Bitcoin only traded underground and most often were illegal transactions. that is why governments around the world prohibit or legalize bitcoin. therefore, deciding to use bitcoin as a general means of payment will be a very risky one.
Bitcoin is a very good and popular investment currency in the crypto market as the country's economy improves it is also able to solve people's problems.
It has no direct impact to the economy but through the people who use bitcoin as investment or currency it can give an opportunity as an alternative way to earn specially now that there's a pandemic. People are looking online on ways to generate income, and bitcoin is one of the option that can help those who dont have job.It surely has an impact on economy because the larger the people earn from the crypto their dependency on other things like job or government services reduces, their lifestyle becomes better and they start buying more stuff for their betterment and this increases the demand in the market. Also, they start contributing more in the taxes when they earn more.
Bitcoin is a very good and popular investment currency in the crypto market as the country's economy improves it is also able to solve people's problems.
It has no direct impact to the economy but through the people who use bitcoin as investment or currency it can give an opportunity as an alternative way to earn specially now that there's a pandemic. People are looking online on ways to generate income, and bitcoin is one of the option that can help those who dont have job. 
For me bitcoin is good for economy as long as it will use correctly. I mean ,it will not be use in evil works like drugs, crimes, scam,etc... Bitcoin is very useful if we give value on it not just as an investment but more than to that.
I doubt that this statement isn't right, I demand you to benevolently post a source connect here.
It's not difficult to acquire bitcoins, rather its the most effortless way to gain cash on the web.
There's numerous method to win it you can do exchange, mine or play faucet online
For me, bitcoin will help a lot in ang economy especially now the pandemic many people have lost their jobs, many people ang hungry because they have no money we can help them thru introducing bitcoin to them to also help them and our economy gradually falling. bitcoin is good for the economy especially in this situation.
Yes even though the country's economy suffered in such a bad situation the effects of the epidemic on bitcoin did not last long that is why many people have found a source of income and have been able to cope with the financial crisis. Bitcoin is a very good and popular investment currency in the crypto market as the country's economy improves it is also able to solve people's problems.
For me, bitcoin will help a lot in ang economy especially now the pandemic many people have lost their jobs, many people ang hungry because they have no money we can help them thru introducing bitcoin to them to also help them and our economy gradually falling. bitcoin is good for the economy especially in this situation.
First and foremost - bitcoin is good for each individual bitcoin investor, thus its good for the economy, because ultimately it boosts people's purchasing power which drives economy in the first place.
For me bitcoin is good for economy as long as it will use correctly. I mean ,it will not be use in evil works like drugs, crimes, scam,etc... Bitcoin is very useful if we give value on it not just as an investment but more than to that.
It's not just Bitcoin that has that use it correctly and it will serve you, use wrong and it can hurt you. Only thing is that
it's not on individual level, it works for all of us, and it can be good for all of us, or it can be bad for many of us, and how
will it be will depend on how we use it.
And I agree with you Axelseseclevz, if we use crypto-currencies in the right way it can be good for the entire world and
all the people who live!
Bitcoin is a great asset..
Bitcoin is a financial savior (for those who have made huge profits from Bitcoin)..
Bitcoin is the savings of the future..
Bitcoin promises transparent transactions..
Bitcoin is a financial savior (for those who have made huge profits from Bitcoin)..
Bitcoin is the savings of the future..
Bitcoin promises transparent transactions..
For me bitcoin is good for economy as long as it will use correctly. I mean ,it will not be use in evil works like drugs, crimes, scam,etc... Bitcoin is very useful if we give value on it not just as an investment but more than to that.
agree with you, Bitcoin is very good for the economy if used properly..
For me bitcoin is good for economy as long as it will use correctly. I mean ,it will not be use in evil works like drugs, crimes, scam,etc... Bitcoin is very useful if we give value on it not just as an investment but more than to that.
Bitcoin will be good for the economy, in my own opinion, if people use bitcoin in a nice way. Although, in my country some people doesn't know this yet and others lack of knowledge when it comes to crypto currency. If some people will be educated on how this is used it could be really useful. And this is good for the economy if there is massive adoption.
Everything that can help people in much easy way can help economy and Bitcoin is one of those because we had already know what this can help us.
the payments speed and the capacity to transact worldwide in easy way now.
depend on your country and depend on your capacity,this will take years before happening or nothing will happen at all.
the payments speed and the capacity to transact worldwide in easy way now.
Yes that is beneficial to our economy because bitcoin help a lot no matter how our economy. I hope the establishments can receive payment from the bitcoin so it can help big in our economy especially in this situation.
this needs adoption before we can use this in daily basis.depend on your country and depend on your capacity,this will take years before happening or nothing will happen at all.
I think so, Bitcoin is good for the economy if it is utilized properly for example in remittances if people use Bitcoin via regulated platforms the government will gain taxes from every transactions generated same for the establishments that accepts Bitcoin as payment or regulated exchanges that operates locally or internationally. Unless we do not use third party platforms to convert Bitcoin to cash vice versa, but I think its impossible because people still depend on fiat and banks up to this day or in the future.
Yes that is beneficial to our economy because bitcoin help a lot no matter how our economy. I hope the establishments can receive payment from the bitcoin so it can help big in our economy especially in this situation.
There will be a lot of tax evasion with bitcoin as a currency. It's easy to use a bitcoin mixer service to do so which will in turn reduce the economy of a country or state.
I'm not saying there will be no good factors associated to it as a currency i only pointed out the most lethal one.
Of course, Bitcoin is good for the economy.
It gives the opportunity to people who do not have high salaries to work from their home and get paid in higher rates, eliminating inequalities between countries and regions of people who leave on different places.
It gives the opportunity to people who do not have high salaries to work from their home and get paid in higher rates, eliminating inequalities between countries and regions of people who leave on different places.
I agree. Growing numbers of individuals working in Crypto world and earning Bitcoins were given the chance to have financial freedom and the benefits of Bitcoins great features that made each people's fund management be easy and reliable. Indeed, it is great for the economy because of the profits we earned here and every awesome benefits it offers.
Yes that is beneficial to our economy because bitcoin help a lot no matter how our economy. I hope the establishments can receive payment from the bitcoin so it can help big in our economy especially in this situation.
Ofcourse it is, especially nowadays that were facing Pandemic. Plus a lot of companies shut down and retrenched people. thats why a lot of people loss their jobs and dont know where to get their source of income.
I don't see bitcoin is good for the economy in the situation now. Maybe for others, but how about those who are not able to know what bitcoin is and those who don't have the means to have bitcoin, right? Losing jobs is because of the pandemic that even small businesses needed to shut down because they are not having any more profit. They are losing capitals.
It will still affect bitcoin, so there is probably no need to say unequivocally that it is good for the economy.
When Bitcoin gets harder to come by I don't think it's good for the economy, because the crisis will inevitably hit when the main source is even hard to find. In Bitcoin anyone can own it if they have the effort which is basically the same as any other currency. But is Bitcoin easy to accept to become the main source of the economy, because we realize the government will maintain its own currency for many transaction purposes, if Bitcoin is only a store of value I think it will still be easy to accept by many different elements and institutions.
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