If majority of transactions were made through bitcoin, it would give a bump on countries' economy.
Transactions in any form is monitored by the government for tax responsibilities, this is where government gets their funds. Since bitcoin transactions are decentralized government won't be able to tax it and nothing will be collected.
Topic: is there any economic effect for the country or bitcoin users - page 7. (Read 2328 times)
Yes Bitcoin definitely affects the economy of the country because it involves finances as it was introduced as a worldwide payment system. People can earn some wealth with Bitcoin thereby increasing their financial capacity which indirectly affects the economy of the country. Similarly a ban on Bitcoin will also affect the country’s economy, if large number of people of the concerned country has invested in Bitcoin. Moreover money laundering inside the economy might also be well effected with use of blockchain and bitcoin.
I think when you will just use Bitcoin as a payment method then it will make difficult or nearly impossible process for the government to track your earnings, also problem will increase if no one continue to use national currency and it will cause damage to national currency and falls its value in intentional market, despite it will increase Bitcoin value with increase popularity still it will effect national currency.
Some underdeveloped countries are not qualified to manage MOF. They do not have management systems like big ones. But if there is a good way to manage the organizers, it should be better to use them in cash. According to many people, they pay faster and more flexible when using BTC. But there are also many risks when holding BTC 
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?
I think countries usually ban Bitcoin because of the rapid growth of the cases regarding scams and I would like to add that some people as they say who were involve with the drugs and terrorism were free to do transactions here and governments see that as a reason to banned this in their countries and we should all respect that I think, but on the contrary Bitcoin is supposedly could help the people to have a extra way for extra income and their Savings will be all gone if they will suddenly stop this to run.
I think that bitcoin users can be normal and positive people, so the would have a good effect on the country, that will support them!
The acceptance of bitcoin for transaction in a country will boost business because people from every part of the world can buy goods from those countries.This will help in revenue to the countries.Miners can also decide to go and stay in any country that welcomes them and can contribute great to the economic condition of that country.
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?
I think there is, cryptocurrency was able to distribute wealth to other people through cryptocurrency income. So, let's say an investor from my country invested in an ICO that is developed in Australia and earned a lot of money, if it is cashed out I think it has some how an effect in my country's economy.
Countries with friendly regulations for cryptos might be helpful in long term from an economic perspective... Look at Japan, the tech space as well as economic activity in last 2 years has alreay seen a positive jump... Now, multiple this by 5 times and say for next 5 years it will follow the same curve...
Compared japan of future vs other country which is powerful today but not crypto friendly... The future / economic benefit will be huge
Compared japan of future vs other country which is powerful today but not crypto friendly... The future / economic benefit will be huge
An economy is good when the people have money to spend.If the people in a country are well resourced,the entire country will feel the impact. Bitcoin has a lot of advantages for an economy because it provide jobs,investment oppplortunities for investors and can attract miners to a crypto friendly country.All these will boost the economy greatly.
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?
There will definitely be an economic decline if suddenly a country that has been allowing the operations of Cryptocurrency suddenly instil a ban! The effect will be massive! You need to look at the volume of money invested in Cryptocurrency at the moment to know what I mean! A sudden withdraw can paralyze some active economy that has been sustained by the Cryptocurrency.
Offcourse,there are a effect on economy and bitcoin users.Because all the works of crypto are related to the economy.Big or small changes of cryto effect on economy. There are positive effect on national income.Many people can earn money by bitcoin and it increase the county development
Very honestly i do not think that it will such such a big effect on country level. i think that it can only effect the economical condition of a single person or just his family, for example before bitcoin trading i was passing my time very hard, i was always facing financial problems but now after crypto trading it is really giving me a good financial support and hope that it will continue it for a long long time. I addtion to bitcoin helping the economy is that it reduce unemployment rate, This can be the source of school payments to students who are into bounty and most of all this can help poverty because families are doing well with there financial status parents can now afford to send there children to school.
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?
I think there is, cryptocurrency was able to distribute wealth to other people through cryptocurrency income. So, let's say an investor from my country invested in an ICO that is developed in Australia and earned a lot of money, if it is cashed out I think it has some how an effect in my country's economy.
Offcourse.there are an impact on economy and bitcoin users.Because every one of crafted by crypto are identified with the economy.Big or little changes of cryto impact on economy. There are constructive outcome on national income.Many individuals can win cash by bitcoin and it increment the region advancement
I guess that the reason why other country still don't recognize bitcoin as a source of money or income is because bitcoin doesn't have a tax so the government doesn't want to endorse or to promote it even though it seems that they could have a lot of opportunities and chances to enhance the life of person or to change the way of living especially to those unemployed and the disabled person also and it will affect us and also our economy.
Bitcoin, like the other cryptocurrency, decentralized. The possession of Bitcoin is almost impossible to track, of course, only in the event that ecли you visit tell us about their bitcoins at every step. Cryptocurrency can bring in the economy a tide of money, but so far, all economists understand how to benefit from it. I think so.
Bitcoin is just a vehicle of finance and it depends on the users that how they are driving it. I think if adopted on a global level then Bitcoin can not only optimize the economies around the globe but also it will save much time and cost of the transaction resulting in the increase in the efficiency. On the other hand, it takes away the control and power from the centralized authorities like the governments and transfers it to the users and that's the reason why governments don't want us to use decentralized currencies.
When a country is against the use of bitcoin and then bans it, the value of bitcoin decreases. Therefore, it will be affected badly on bitcoin users. The economy has nothing to do with that. On the contrary, it will make people give up relying on bitcoin and resort to its primary currency or even banks if they want to store their money. On the other hand, some people still use bitcoin but not legally. I mean they use the VPN, and so on.
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 will give us a big impact on our economy infactmany work are produce by bitcoin so if you have bitcoin or bitcoin was supported by your country you are lucky cause bitcoin will give you and your co citizen a work so everyone will have work and also money. we must support cryptocurrencies cause it has a big potential and dynamic effect on our economy right. biggest fear is when government interfere in our crypto so our crypto will be lost or dump
These countries do not have a big impact on the economy and bitcoin users in the short term, but the impact on the economy and users is huge after the more powerful community has developed, and many big companies will quit bitcoin related businesses, which will develop rapidly in countries open to bitcoin.
Citizens that are invested into cryptocurrencies will certainly be a bit affected by the country's decision , but i don't think that these countries can really find the people who are violating the rules due to the anonymity of the cryptocurrencies , and the best they can do to prevent citizens from doing their crypto activity is to censor access to exchanges and crypto wallets ( and even that can't be a radical solutions since there are numerous tools that help overpass such censorship .. ) .
Countries that banned cryptos pretend to be afraid that their citizens financial status may be affected by cryptos that can turn up to be scams , but in reality they can't stand seeing people having a side source of money without paying taxes ..
Countries that banned cryptos pretend to be afraid that their citizens financial status may be affected by cryptos that can turn up to be scams , but in reality they can't stand seeing people having a side source of money without paying taxes ..
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