Topic: is it possible to invest in bitcoin to build a country whose economy is down? - page 2. (Read 1028 times)

As we can see other countries are already doing it and others are only partially making bitcoins as one of their choices of investment in their countries. Nevertheless, their results was pretty good because non of those countries are experiencing economic falls after they make bitcoins as choices for their people to invest their money with.

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So true. No country has fallen economically after adopting bitcoin either as a commodity asset or as a security asset. And in fact El Salvador seems to be enjoying some advantages in the tourism sector after they adopted bitcoin as legal tender in their country. So actually every country that is open with bitcoin and allows its citizens to invest in bitcoin will make the country have more income from the taxes that are collected by the country from the transactions of its citizens on the exchange. Well in my country in Indonesia have done it. And all went well. The government gets additional revenue from crypto taxes and citizens also feel happy because they are free to invest in crypto as a commodity asset.

As we can see other countries are already doing it and others are only partially making bitcoins as one of their choices of investment in their countries. Nevertheless, their results was pretty good because non of those countries are experiencing economic falls after they make bitcoins as choices for their people to invest their money with.

It will be more risky i think. It could be possible but huge risky. Previously we saw bitcoin price increase speedily but some times it’s price also fall at large. Any country shouldn’t invest broadly in Bitcoin
Because i think many big crypto whales and many gambler involved in  Bitcoin. They are capable to creat impact on Bitcoin price. They are able to manipulate Bitcoin price. Recently we saw Elon Musk's company SpaceX sold his Bitcoin and Bitcoin price fall near about 8% instantly and for it’s impact still Bitcoin price dumping. So i think  is it possible to invest in bitcoin to build a country whose economy is down. But is is high risky.

99% of all hacks are not really crypto but Exchanges, Wallets.
One coin sticks out though and that is ETH. Not positive though. In 2016 it led to a split.
https://en.wikipedia.org/wiki/Ethereum_Classic

Of course, we certainly know that not all countries in the world are progressing, especially in the economic field.

I want to ask everyone, can adopting bitcoin help a country's economy? especially countries that are experiencing bankruptcy, for example, as experienced by our brothers in the country of Sri Lanka.

but if my think can! a country by adopting bitcoin will help its economy, as long as it is adopted on a large scale.
for example as follows:

: all people who can afford it are obliged to invest in bitcoin, but of course investing in bitcoin is only made as a side job. but of course investing in bitcoin must be in accordance with the capabilities of the community, because society of course consists of rich people and poor people, but in my opinion investment in bitcoin can be achieved by all people, because investing in bitcoin can start with small capital or large capital .

So in that way I think the people's economy will be helped, so in this way a country's economy can also be helped because the community invests in bitcoin.
and finally the government must provide lessons about bitcoin to its people, or add it as a new subject for students, and also provide special lessons for those who are not in school, namely so that people know the risks of investing in bitcoin,
etc.

what is my understanding like that, I ask for your opinion from all of you?

In some situations Bitcoin can be a very helpful adoption for a country and its economy but still a country which is already bankrupt won't be able to gain any economical advantage by adopting Bitcoin. Let's take the example of Sri Lanka, we all know that the economic condition of that country is in the worst levels possible and adopting to Bitcoin won't help it to become free from economic challenges.

Bitcoin can be helpful for the people of such countries only if they know that they are investing in an asset that is going to be higher in value and should be kept safely because Bitcoin can be hacked and someone who doesn't have proper knowledge about Bitcoin can lose a lot of money due to his/her lack of knowledge.

In a country some people who already have enough money can invest in Bitcoin to make their future life better, but if people who hardly earn a wage to support their families then they won't get better by adopting Bitcoin. Bitcoin is not for rich people only, but still rich people can make far more profits from it then the poor people. I still think that providing awareness about Bitcoin to a community can be very helpful for that community and many people in such countries can improve their lives by adopting Bitcoin.

I believe that Bitcoin can solve many problems in this world economic but helping a corrupt government is not. It may help the people to have more option while their currency is plunging, but this alone won't have any significant effect if the government do not make any good macro economy policies. A country economic is far too complicated to be solved by Bitcoin alone.

Of course, we certainly know that not all countries in the world are progressing, especially in the economic field.

I want to ask everyone, can adopting bitcoin help a country's economy? especially countries that are experiencing bankruptcy, for example, as experienced by our brothers in the country of Sri Lanka.

Why not? Bitcoin investment is individual’s freedom so if there is passion and enough resources to invest, then go for it. But never expect that it will bring you immediate profits that you will use for the country’s economy recovery. However, if you continue to hold your bitcoin with indefinite time, maybe in the future you will reap a good harvest on it, and you can do everything you want for your profits. You can chose to reinvest again so you can help your country to progress, or diversify your investment into physical investments like gold or landed properties so that you can also contribute to the progress of your country’s economy.

I thought you were going to talk about the government of a certain country making an investment in Bitcoin to make the economy better because the economy of a country is not in the hands of its citizens, they might have some influence in it but they can't make it good or bad, it's all about how the government governs the state and how they manage things, especially finances so that they keep getting more money from what they have instead of losing it.

Also, since Bitcoin is an unpredictable asset when it comes to its price, you never know what's going to happen tomorrow. What if a government invests $5 Billion in Bitcoin and the price drops 50% within a month, that will be devastating for them and their economy. So I don't really find it to be a viable solution for that problem.