is there any economic effect for the country or bitcoin users - page 12.

Rooster101

sr. member

Activity: 826

Merit: 256

Quote from: stevano on January 16, 2018, 07:20:57 PM

now there are some countries that began to issue a ban on the use of bitcoin, is there any influence on the country and of course its users in economic value?

The effect would be minimal because bitcoin and other cryptocurrencies are not yet fully use in many countries around the world. The use of bitcoin in business and financial sectors are still low because it is not yet fully adopted in mainstream.The most affected are the individual users and investors of bitcoin but they are only comprised of small segment in the society to make an effect on economy.

maaydin

full member

Activity: 378

Merit: 100

it can have both positive and negative effects. For example so many people in my country invested into bitconnect and when it crashed their investment just gone and now they can`t spend money and now governments has less money in the country. And when my friend earn they go and spend it in shops and buy things which results into rising the amount of dollars in market turnover.

Bitcoinjheta

full member

Activity: 798

Merit: 104

Quote from: emezh10 on February 23, 2018, 07:11:49 PM

Quote from: buggy on January 18, 2018, 09:11:50 PM

Yes definitely there is an economic effect to the country and the bitcoin users because users are given the chance to earn to improve their economic situation. Since people have earnings they can buy what they need for their everyday living and the taxes from the goods they buy will go to the government so both have good effects.

People who used Bitcoin could somehow evade the tax system in terms of earning money but not as a whole becasue all imtes and reatsil they would buy as a part of our daily needs or luxuries have a tax and when we but things that is the time where we could actually help the economy of our country.

Absolutely, there is economic effect for the country and also to the users of bitcoin because what may earned to this digital business work (referring to bounty campaign) and etc. It would definately be spend it to merchants were all our needs in the family are concern. This things already is part of the economic growth for the country becuase every purchase of product has its tax percentage value. So the more you buy product the more tax will be collected just like in my country Philippines having 12 percentage of VAT(Value added Tax).

emezh10

hero member

Activity: 826

Merit: 501

Quote from: buggy on January 18, 2018, 09:11:50 PM

Yes definitely there is an economic effect to the country and the bitcoin users because users are given the chance to earn to improve their economic situation. Since people have earnings they can buy what they need for their everyday living and the taxes from the goods they buy will go to the government so both have good effects.

People who used Bitcoin could somehow evade the tax system in terms of earning money but not as a whole becasue all imtes and reatsil they would buy as a part of our daily needs or luxuries have a tax and when we but things that is the time where we could actually help the economy of our country.

Viscera

sr. member

Activity: 660

Merit: 250

Quote from: Notcalculator on February 12, 2018, 11:51:38 AM

Considering, that bitcoin users are only a small part of the population, i dont think it will make a significant impact. Of course this is under the assumption that we're speaking of a regular country who has a fairly strong fiat currency. But i think, in the long long looong run, it could affect the country negatively. If they suppress the growth of bitcoin in their country, they could also be potentially hindering technological development. If blockchain is truly the future, then they'll leave their cyberspace infrastructures exposed.

That's what i'm thinking tho! The Blockchain has a bright future. Countries are developing in some aspect especially in technology field and has potentially hindering in crypto space, Financial institution are into bitcoin right now and willing to use it to create token and develop technology in there countries this will effect the growth of the community.

ratnaantiqu3

newbie

Activity: 83

Merit: 0

Obviously there are effects on bitcoin users, as many people rely on this bitcoin, they average their economic needs from bitcoin results, especially now there is a problem that the government will ban all these virtual currency transactions because the government considers these transactions free and uncontrollable, fearful misused by the user.

Notcalculator

member

Activity: 196

Merit: 12

★Bitvest.io★ Play Plinko or Invest!

Considering, that bitcoin users are only a small part of the population, i dont think it will make a significant impact. Of course this is under the assumption that we're speaking of a regular country who has a fairly strong fiat currency. But i think, in the long long looong run, it could affect the country negatively. If they suppress the growth of bitcoin in their country, they could also be potentially hindering technological development. If blockchain is truly the future, then they'll leave their cyberspace infrastructures exposed.

vionas

newbie

Activity: 261

Merit: 0

Quote from: stevano on January 16, 2018, 07:20:57 PM

now there are some countries that began to issue a ban on the use of bitcoin, is there any influence on the country and of course its users in economic value?

Maybe the impact for the country is very small, but for bitcoin users who will be affected, they will lose the source of income from bitcoin.

yepaiyique2

jr. member

Activity: 126

Merit: 3

BTC has an impact on some countries' economies!

Those countries that prohibit BTC can prevent domestic funds from going abroad!

Such domestic funds can be used to develop the domestic economy!

PG13

member

Activity: 322

Merit: 10

Quote from: stevano on January 16, 2018, 07:20:57 PM

now there are some countries that began to issue a ban on the use of bitcoin, is there any influence on the country and of course its users in economic value?

Definitely there could be a negative effect on the economy if my country will issue a banned to cryptocurrency. As far as I know, people here are converting their coins into a fiat money to sustain their financial needs, so the money they earn from crypto will circulate to the local economy at certain level. If the government will cut that flow, it could lessen the flow of money in the local economy.

torch2121

member

Activity: 210

Merit: 10

The revolutionary trading ecosystem

For me I don't see economic effect. Maybe the effect will only happen if the government will push thru what they want to take control Bitcoin.

yonjitsu

full member

Activity: 476

Merit: 100

www.daxico.com

Quote from: ?? on ??

The impact is certain, and many countries may have a ban on ICO for fear that their money will flow elsewhere.

Many countries have already banned bitcoin and cryptocurrencies including ICOs. Every country has its own rules and regulation and it's up for them to impose such rules and regulation to cryptocurrencies. Since cryptos can boost one's economic growth, having it banned can cripple its momentum of progress.

billionaireSHS

member

Activity: 269

Merit: 10

Decentralized Transportation Solution

What do you mean? Is that the economic value or market value of bitcoin or not ? If yes, well it has a big effect on it. Since users or bitcoin users will serve as an instrument to promote bitcoin and to get or develop new investors to the success of bitcoin. And sometimes bitcoin users is the one who are investing on bitcoin. So if we think that in some countries bitcoin will ban, what happen to the market value of bitcoin?? In that case bitcoin will fall, because there are some bitcoin users that cannot access bitcoin because it is already banned in their countries so that only few investors will develop and it can caused to fall the market value of bitcoin.

Lancusters

sr. member

Activity: 630

Merit: 263

Quote from: izanagi narukami on January 27, 2018, 11:09:10 PM

Quote from: stevano on January 16, 2018, 07:20:57 PM

now there are some countries that began to issue a ban on the use of bitcoin, is there any influence on the country and of course its users in economic value?

Before the ban issue, my people already skeptic about bitcoin since my government decide to forbid bitcoin usage.
Of course not all of my people are afraid but when they heard about ban issue, it affect my local exchange value quite much as panic sell usually happen

Why will it create panic? In order to transfer the bitcoin to another exchange just press a few buttons on the computer. This is a problem of the exchange but for the whole bitcoin community is not a problem. It seems to me that the prohibition of bitcoin in one country will trigger a withdrawal of capital from the country. If you have the opportunity to obtain income then people will always look for the opportunity. For example, to accumulate coins on the exchange outside the jurisdiction of your country and wait for regime change. The more people the less chances to stay in power for another term.

ICOPass

copper member

Activity: 112

Merit: 0

Easiest way to do KYC checks

It does not make sense to ban bitcoin in one country. People will find ways around if the value is high for having it.

EtherATM

member

Activity: 224

Merit: 11

Quote from: Choyor on January 18, 2018, 09:36:45 PM

Quote from: stevano on January 16, 2018, 07:20:57 PM

now there are some countries that began to issue a ban on the use of bitcoin, is there any influence on the country and of course its users in economic value?

Yes, Bitcoin greatly affects the economies of its users, making them more financially secure, but not with some countries that consider Bitcoin as a threat to their economic stability, as evidenced by some countries that prohibit the use of Bitcoin. The difference is that we as individual Bitcoin users feel financially viable by Bitcoin but the country's view of the impact of Bitcoin is more universal.

Recently, the issue of banning bitcoin take a massive impact to the economy all over the world. Yep actually it make most of us feel concerned a lot about the price of bitcoin and other coins. As far as we know that these day bitcoin or crypto currencies is getting more and more popular, which make many people pay attention on it. According the the new, through the ban of some countries from bitcoin, most of us loss a significant benefits. The ban is really affect to the bitcoin market, which makes bitcoin’s price fluctuate in disnormal way.

gambitcoin53

member

Activity: 378

Merit: 25

yes i think there is a great effect on the economy of a country, just like dollar reserve, it has a major role for a country to gain stability and economic growth. if bitcoin is widely accepted by a certain country, it will definitely lessen poverty and the money reserves will circulate more due to exchange, microfinancing at its best. more people will have more buying power so trading will zoom up, more investors, more demand, more earning.

fiulpro

hero member

Activity: 1862

Merit: 830

Offcourse for some people the only way to earn is Bitcoins that's the only thing that they are dependent on and when their means of earning is cut off they become unemployed which reduces the net GDP of that country.
It's off course affecting people and the government in a negative way .
Yet the main reason of banning Bitcoins always is that it's unstable and the banks fears that they might loose money and the people too thus they decide to ban Bitcoins, but people can always choose some other way and always stand against the government

btccashacc

legendary

Activity: 1120

Merit: 1000

My country has banned bitcoin as payment method but we can keep them like stock it's not against the rules, many people already selling their bitcoins to cash but it does not have a big impact on bitcoin prices because the bitcoin volume in our exchanger is small compared to the outside market, but the most dangerous it's a lot of countries together banning bitcoin, well it will definitely have a big impact on bitcoin prices, as we can see a few weeks ago and it was just an issue.

safarabela

jr. member

Activity: 353

Merit: 4

Quote from: stevano on January 16, 2018, 07:20:57 PM

now there are some countries that began to issue a ban on the use of bitcoin, is there any influence on the country and of course its users in economic value?

Bitcoin greatly affects the user economy for better, bitcoin can also be used to invest or store their wealth without having to pay taxes. Therefore there are some countries that prohibit bitcoin.

Topic: is there any economic effect for the country or bitcoin users - page 12. (Read 2329 times)