Topic: is it possible to invest in bitcoin to build a country whose economy is down? - page 5. (Read 1028 times)
August 01, 2023, 09:06:22 PM
it is possible, actually it is not only bitcoin. youtube, tiktok and etc was proof that people can earn money from internet which will also improve country economy. there is no limitation of money velocity in bitcoin, google adsense, tiktok gifts and etc. money from all around the world can come to us, what we only need is internet connection. although a country don't have enough natural resource but as long as they have money they can buy that from other country.
August 01, 2023, 08:48:01 PM
We should never forget that Bitcoin is a currency. A currency can only do what a currency does. A strong currency strengthens an economy, but it doesn't mean if a country has a strong currency it economy would flourish.
If a country adopts Bitcoin, yea it would help some people in various ways. It would make some people richer through different ways like trading, investing, and different job opportunities that Bitcoin creates, but ultimately I don't think it can save an economy from bankruptcy or resuscitate an economy, but I believe in making a few people richer it has contributed to the economy one way or the other.
If a country adopts Bitcoin, yea it would help some people in various ways. It would make some people richer through different ways like trading, investing, and different job opportunities that Bitcoin creates, but ultimately I don't think it can save an economy from bankruptcy or resuscitate an economy, but I believe in making a few people richer it has contributed to the economy one way or the other.
It does keep it's value over time, because you cannot simply create more of it.
I can understand why some people in power don't want Bitcoin, because they would lose the ability to print more money when they want to.
August 01, 2023, 08:33:38 AM
We should never forget that Bitcoin is a currency. A currency can only do what a currency does. A strong currency strengthens an economy, but it doesn't mean if a country has a strong currency it economy would flourish.
If a country adopts Bitcoin, yea it would help some people in various ways. It would make some people richer through different ways like trading, investing, and different job opportunities that Bitcoin creates, but ultimately I don't think it can save an economy from bankruptcy or resuscitate an economy, but I believe in making a few people richer it has contributed to the economy one way or the other.
If a country adopts Bitcoin, yea it would help some people in various ways. It would make some people richer through different ways like trading, investing, and different job opportunities that Bitcoin creates, but ultimately I don't think it can save an economy from bankruptcy or resuscitate an economy, but I believe in making a few people richer it has contributed to the economy one way or the other.
August 01, 2023, 12:42:36 AM
Thinking a little bit about the use of bitcoin and rebuilding the economy, i think the OP is visualizing the problem in terms of what you know about small profits and imagining a big application for a other scale.
First of all, I strongly agree that using bitcoin is useful and there are risks associated with any economy, and economic recovery or growth will depend on many different factors specifically people, resources, energy, climate, relationships... and the fact that bitcoin as we can believe and see its potential but more frankly, fast development speed does not mean it's big compared to the economy.
First of all, I strongly agree that using bitcoin is useful and there are risks associated with any economy, and economic recovery or growth will depend on many different factors specifically people, resources, energy, climate, relationships... and the fact that bitcoin as we can believe and see its potential but more frankly, fast development speed does not mean it's big compared to the economy.
August 01, 2023, 12:25:16 AM
It's possible, for the record that bitcoin isn't the subject of growth (in this case investment is not the main way, but earn). Let the community be more independent and don't limit their scope of earning opportunities to increase per capita income. For example, if people can generate bitcoin from their expertise or whatever, then the government should relax the rules and (if necessary) provide supporting facilities.
good part in this point , yeah independency don't need to be connected to anything but the country itself as they only need their people to develop other aspect of profiteering and generating income .If they find those in crypto or in bitcoin generally then why not right?
July 31, 2023, 11:15:38 PM
if the whole country will Connive together and invest in bitcoin ? then this will be a great step to start a new beginning and go cashless society as we knew that the world is going online now and with the help of Bitcoin and also other cryptocurrencies , there will be a bigger solution for their drowning economy .
they will have less credit in worldbank things that most country suffers from.
and also the transactions will go faster and that is what each people needed now , though sometimes congestion is the most hated part of transacting , yet there is other option to conduct.
LN will also help small transactions to get through with lower fees.
and also good post OP, this add some flavor to the market going next to Bull running sooner.
they will have less credit in worldbank things that most country suffers from.
and also the transactions will go faster and that is what each people needed now , though sometimes congestion is the most hated part of transacting , yet there is other option to conduct.
LN will also help small transactions to get through with lower fees.
and also good post OP, this add some flavor to the market going next to Bull running sooner.
July 31, 2023, 10:53:13 PM
Before we go any further, you have to understand how the market works and also not everyone will "get rich in the game" When you make profits, it means someone on the other side of the trade/investment has made a loss
Assuming the Citizens are all told to invest in Bitcoin in the current price and 3 years later, bitcoin price is the same or down like $10K, would you still say the investment has built the country's economy?
Investment should be a choice, and I think adoption and investment differ a bit.
Assuming the Citizens are all told to invest in Bitcoin in the current price and 3 years later, bitcoin price is the same or down like $10K, would you still say the investment has built the country's economy?
Investment should be a choice, and I think adoption and investment differ a bit.
indeed investing in btc is very high risk, but in my opinion there is nothing wrong if people invest in btc to make a side job using idle money, and in my opinion all businesses are of course very risky as well as investing in btc.
but indeed I don't know much about bitcoin and crypto, but I want to know from you what is the difference between adoption and investment? I am very happy if you want to explain it...
January 29, 2023, 05:40:44 AM
I think it will be difficult to translate the whole country, first people need to understand what it is
People are not born with the ability to transact with bank accounts, credit cards, etc. It's all learnt, and once it becomes second nature it seems simple.
The same thing with Bitcoin, first you have to learn how to use it, etc, but then it becomes second nature.
These days you can even setup your own lightning network server with an NFC card (Bolt Card), and you can pay in sats (no conversion to fiat ever) by just tapping with your card, the same way you tap with a credit card for example.
It's just a matter of time until we have 3 standard payments, cash, card, bitcoin.
January 25, 2023, 08:25:09 AM
Possible to improve the economy through investment in bitcoin but for this the government needs to support it. Bitcoin is not legalized in many countries for being decentralized all financial transactions in the country must now accept Bitcoin as legal tender, except for businesses that do not have bitcoin transaction technology. Since the currencies of low income countries are quite weak, they have suffered a lot. When there are big fluctuations in the market and inflation is very high they are in a very fragile position.
January 25, 2023, 07:20:49 AM
I think it will be difficult to translate the whole country, first people need to understand what it is
January 24, 2023, 07:10:23 PM
The economy of a country has more to with the countries nGDP. Bitcoin can be an investment in the long run, but a country cannot be sustained by a sole dependence of its investment in Bitcoin.
Even as a last resort, a country without exportable products in any field/industry is surely reliant on other value it offers to the world. A country would have exhausted all its means of making money, before even looking to the profits it has made from its investment in Bitcoin.
If they intend to mine Bitcoins, by building large farms for this purpose, are not in so much fiscal debt, and are technologically adept to keep up, explore, and secure in large detail the features and insight Bitcoin has to offer, then I can say it is possible to invest in Bitcoin to build a countries economy, but not for a hopeless case, because the yield takes time. It should be as an added source of income stream.
Even as a last resort, a country without exportable products in any field/industry is surely reliant on other value it offers to the world. A country would have exhausted all its means of making money, before even looking to the profits it has made from its investment in Bitcoin.
If they intend to mine Bitcoins, by building large farms for this purpose, are not in so much fiscal debt, and are technologically adept to keep up, explore, and secure in large detail the features and insight Bitcoin has to offer, then I can say it is possible to invest in Bitcoin to build a countries economy, but not for a hopeless case, because the yield takes time. It should be as an added source of income stream.
True.
At the end of the day, Bitcoin can be used as a savings mechanism.
But the value itself needs to be created. It can be anything though, value doesn't have to be tied to Bitcoin in the creation, but in the saving part of it.
Most countries are interconnected these days, so inevitably Bitcoin will start to be accepted in more and more countries through the open market
January 24, 2023, 04:22:26 PM
The economy of a country has more to with the countries nGDP. Bitcoin can be an investment in the long run, but a country cannot be sustained by a sole dependence of its investment in Bitcoin.
Even as a last resort, a country without exportable products in any field/industry is surely reliant on other value it offers to the world. A country would have exhausted all its means of making money, before even looking to the profits it has made from its investment in Bitcoin.
If they intend to mine Bitcoins, by building large farms for this purpose, are not in so much fiscal debt, and are technologically adept to keep up, explore, and secure in large detail the features and insight Bitcoin has to offer, then I can say it is possible to invest in Bitcoin to build a countries economy, but not for a hopeless case, because the yield takes time. It should be as an added source of income stream.
Even as a last resort, a country without exportable products in any field/industry is surely reliant on other value it offers to the world. A country would have exhausted all its means of making money, before even looking to the profits it has made from its investment in Bitcoin.
If they intend to mine Bitcoins, by building large farms for this purpose, are not in so much fiscal debt, and are technologically adept to keep up, explore, and secure in large detail the features and insight Bitcoin has to offer, then I can say it is possible to invest in Bitcoin to build a countries economy, but not for a hopeless case, because the yield takes time. It should be as an added source of income stream.
January 24, 2023, 03:42:58 PM
A delapidating economy can be improved with the impact of bitcoin if introduced, the reason why there has been increasing demand to know about bitcoin all over the internet is because of it nature of profitability and decentralization where by bitcoin does not loose value over time when invested, instead it appreciates and increases in it, the influence of inflation couldn't be felt with such a decentralized network and has served the purpose of restoring back the economy the ways it used to be.
January 24, 2023, 03:31:51 PM
If you ask me I would like to say the country doesn't need to be economically broken in this case because bitcoin can be life-saving for any country and government if they know how to use it as they should use it, for example, El Salvador's governments invested on bitcoin and tried to use it to make their economic situation better while they didn't mistake and they invested at the moment when it is not a good time so that's why they are still not in a good situation. But generally, yes, investing in bitcoin can help with a country's economic situation.
January 23, 2023, 10:27:39 PM
I think, adoption of Bitcoin in a country will help in so many ways that will make the citizens of that particular country to feel the impact of Bitcoin in all areas of their lives. Bitcoin has so much reward to such countries that will make it legal in their countries, because it will help the countries to reduced unemployment from the land and improve many business in their environment. El Salvador is one of the country that does that by adopted Bitcoin in their country to eliminated poor education, and low economy from the country that is making other countries to respect their current president that made it available for El Salvador to be the first country that adopted Bitcoin.
January 23, 2023, 10:13:52 PM
if their country's fiat has been destroyed, everything must start with government policy. leave fiat behind and start with the massive adoption of Bitcoin for all transactions in the country.
state finances must be completely reorganized. use the money reserves you have to supply Bitcoin to the Community. in the case of a debt-ridden country. this is not an investment, but the adoption of Bitcoin to be used as legal tender.
if countries become so poor, even their fiat has no value anymore. how will they invest? revival will take time, and that also includes countries wisely managing the existing resources in their countries for mutual progress, not being corrupted.
state finances must be completely reorganized. use the money reserves you have to supply Bitcoin to the Community. in the case of a debt-ridden country. this is not an investment, but the adoption of Bitcoin to be used as legal tender.
if countries become so poor, even their fiat has no value anymore. how will they invest? revival will take time, and that also includes countries wisely managing the existing resources in their countries for mutual progress, not being corrupted.
January 23, 2023, 09:57:06 PM
Making bitcoin known in a country or using it to help a country is probably having the countries heart at risky because if the market raises we will thanks be to God then how about it falls what are we going to say then.
Truly bitcoin investment is a life changer but it still at the owner risky so we can't risky the income or economy of a country to bitcoin that we don't know when it raises or when it falls, so I guess we better not do it that way and think of something to help the country.
Haven't known all the risky it takes to invest in bitcoin as an investor and what it takes to invest,as well as the risky you to put the country into,you don't hope on it always because it can likely disappoint you too.so we need to be very careful of what we are doing or thinking before put the full country involving in it.
Truly bitcoin investment is a life changer but it still at the owner risky so we can't risky the income or economy of a country to bitcoin that we don't know when it raises or when it falls, so I guess we better not do it that way and think of something to help the country.
Haven't known all the risky it takes to invest in bitcoin as an investor and what it takes to invest,as well as the risky you to put the country into,you don't hope on it always because it can likely disappoint you too.so we need to be very careful of what we are doing or thinking before put the full country involving in it.
January 23, 2023, 08:20:22 PM
Ofcourse. But I think it's be better to involve those who know how to invest rather than those who can afford to invest so that there won't be much regrets. And that will mean learning/education first, like you suggested, or they could get qualified people (who would never have access to investors private/secret keys) to manage their funds. . There are very few people who could help in this regards.
Ofcourse it's actually possible for members of such countries to earn reasonable amount of income from their Bitcoin investments and use that to take care of their basic needs,but only if they know how to go about it.
Bitcoin economic model is actually sustainable especially now it's in good hands. It can comfortably accommodate everyone in the world without issues, as long as it remains in good hands.
Ofcourse it's actually possible for members of such countries to earn reasonable amount of income from their Bitcoin investments and use that to take care of their basic needs,but only if they know how to go about it.
Bitcoin economic model is actually sustainable especially now it's in good hands. It can comfortably accommodate everyone in the world without issues, as long as it remains in good hands.
I don't think there is much to learn for a basic usage of Bitcoin.
It really is simply save money in Bitcoin instead of fiat. Of course there are technical aspects that need to be learnt, but those are easy enough to teach, same as how most people are computer literate these days.
The key thing is that you can "invest" your fiat in Bitcoin. Usually you would need to invest your fiat into something, a company, a house, etc. Bitcoin allows you to save your money without actually investing in risky assets.
January 23, 2023, 11:31:34 AM
Ofcourse. But I think it's be better to involve those who know how to invest rather than those who can afford to invest so that there won't be much regrets. And that will mean learning/education first, like you suggested, or they could get qualified people (who would never have access to investors private/secret keys) to manage their funds. . There are very few people who could help in this regards.
Ofcourse it's actually possible for members of such countries to earn reasonable amount of income from their Bitcoin investments and use that to take care of their basic needs,but only if they know how to go about it.
Bitcoin economic model is actually sustainable especially now it's in good hands. It can comfortably accommodate everyone in the world without issues, as long as it remains in good hands.
Ofcourse it's actually possible for members of such countries to earn reasonable amount of income from their Bitcoin investments and use that to take care of their basic needs,but only if they know how to go about it.
Bitcoin economic model is actually sustainable especially now it's in good hands. It can comfortably accommodate everyone in the world without issues, as long as it remains in good hands.
January 23, 2023, 09:50:31 AM
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:
Countries who are bankrupt shouldn't see bitcoin as a save heaven because bitcoin is a highly volatile asset, but then Bitcoin have the capacity to transform an economy if bitcoin is bought at the right time and with the right frame of mind, that is taking Bitcoin as an alternative and a long time store of value. 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:
But if a country jump in on Bitcoin when the price is extremely high, it may become another way that the country economy will collapse faster and deeper if the price drop from the high bought amount.
So adopting Bitcoin should not be based on economic recovery, but as a technology that need to be properly studied and understood before verging into it.
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