Topic: is there any economic effect for the country or bitcoin users - page 9. (Read 2399 times)
For me no effect directly on the coutrys economy but to the people who are engage with bitcoin will be affected if their country will ban bitcoin. We know that bitcoin is a big help to people specially those who are unemployed and even those people who are engage with bitcoin for extra income purposes. Its really a big impact if bitcoin will be banned. The opportunity of earning well and and getting profit is such a great help to people engage with bitcoin.
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 dont think therr has been any gain or loss of the economic value in any of the country even if they ban bitcoin. Moreover even after the ban I have not seen countries being criminalizing people using bitcoins. People of these countries are still using btc. Take Bangladesh for instance.it says that btc is ban in bangladesh while most of the south asian users here hail from bangladesh too than from pakistan. So who is really afraid of such bans.
in my country, I can't yet confirm that bitcoin affects the country's economy, even the government is still hesitant on bitcoin. but for its users, bitcoin is very good effect and help the economy. even currently the number of bitcoin investors in my country, almost equal to the number of investors in the stock exchange. it proves that bitcoin is very good effect for its users.
The prohibition in every country is sure to prevent crimes, such as money laundering, terrorism financing, and safeguarding the sovereignty of the country's currency as a legitimate means of payment in every country. we know that bitcoin is digital money, using virtual currency bitcoin system is very transparent and difficult to set by government regulations.
for example if they keep money in the bank, the money from the crime can be easily traced and can also be misused by people who want to hide their income from the government, and avoid paying taxes. Then, the state revenue from the tax will be lost because of the money that is not tracked.
because the transparent bitcoin only knows from the address just not from the owner's name. it is the cause of each country forbidding bitcoin.
for example if they keep money in the bank, the money from the crime can be easily traced and can also be misused by people who want to hide their income from the government, and avoid paying taxes. Then, the state revenue from the tax will be lost because of the money that is not tracked.
because the transparent bitcoin only knows from the address just not from the owner's name. it is the cause of each country forbidding bitcoin.
this does have an impact on the country and bitcoin users. the income of bitcoin users will be in use for everyday needs, such as paying taxes. and the tax goes to the country.
Some of country government may fear that Bitcoin will replace their currency and bitcoin is not control by any one now.This is the reason for the ban issues in bitcoin.So no need to worry even bitcoin is ban in your country.You can use of VPN to hide from government.
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. Our country is in 3rd world country which means that there are many people who lives in poverty. But, when digital crypto was introduced to us, the poverty rate in our country is decreasing. Because most of the people who does not have a job are relying in digital cyrpto currency nowadays. Aside from that, those people who are in abroad are contributing in our economy by means of sending a money through remittance.
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 have a effect in my Countries , and thats a Good effect because almost 40% of people are using Bitcoin and they are believe that Bitcoin will be the key to achieve your peace of mind and Being Richman
For example, in Russia already block some sites related to crypto-currencies, plan to track transactions from crypto exchanges and all this so the ban is very bad and having a bitcoin can soon be a crime
Dont be so panic stricken if you are so. its just a matter of time. when all the other people would accept it then they had to withdraw t
Of course if the government forbids bitcoin then the bitcoin user economy will change, they will find it hard to make more money and this is not good because actually bitcoin has helped the economy and made their lives better, the government should look this and support bitcoin
The governments are not greedy because they are slowly but surely studying bitcoin because they know that they cannot control bitcoin fully so they are taking slow steps toward bitcoin. If i were them, i will also do the same thing because that is the most effective and also safest way to make sure that everything will go alright.
Of course if the government forbids bitcoin then the bitcoin user economy will change, they will find it hard to make more money and this is not good because actually bitcoin has helped the economy and made their lives better, the government should look this and support bitcoin
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 don’t know if Bitcoin is actually having a bad effect on any country’s economy. But I think if a country bans Bitcoin, it’s likely to be because of having a negative effect on their economy. Even if it’s not having a negative effect at all, most people still believe that it likely to lead a bad situation, if not now, later. But I’m not part of the anti-crypto squad, I love Bitcoin cause it helped in a lot of ways and is still helping me till now. Many times bitcoin is banned by some countries, it does have an effect like bitcoin value down and so on, but it does not last long, or it may just be an issue in the end they can not block the bitcoin to continue popular
You're wrong. The life of the elite in any country is very different from that of ordinary people. They can pursue their goals and use any means to do so. Because they're the law. People will be limited in everything. The poorer people the easier and cheaper to manage. In rich countries, no one will sell their votes for $ 100. In poor countries, you can buy votes for $ 20-50 and thus stay in power forever. or it may just be an issue in the end they can not block the bitcoin to continue popular
They can decide if they wish to continue the ban on their countries. But they can't stop those people who are continuing to use bitcoin. And the influence to that country is really big, what if there is/are people there who are holding a lot of bitcoin on hold and they decided to ban bitcoin? The profit that personalities will get from that big amount of bitcoin will contribute to the tax of the country but because they banned bitcoin. It's either they will evade tax or other countries will benefit their profit.
Many times bitcoin is banned by some countries, it does have an effect like bitcoin value down and so on, but it does not last long, or it may just be an issue in the end they can not block the bitcoin to continue popular
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 are a lot of positive benefits of bitcoins in my country:
1) A lot of people here are unemployed. I will say more than 50% of the educated youth is unemployed. Even most of the remaining people are underemployed, they are paid very less for the work they do. If bitcoin is allowed here, people could make some money with little investment per month.
2) Another thing is that as people earn more profit with bitcoins, they will also pay more tax. Revenue for government will thus increase rapidly which can be used for betterment of poor people.
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 it has negative effects on both sides of course. Banning crypto in a certain country makes online payments inconvenient, people lose income and government loses revenue for every taxes paid by crypto enthusiasts upon withdrawal of funds.Yeah, that's what's happening now there are negative effects on other countries about the CryptoCurrency and they banned bitcoin. And also there's a good effects on economy in the other countries that using bitcoin.
It will only affect the people who are using bitcoin but for the overall market like the economy of the whole country, it will not have any affect because bitcoin is not on their economy side and it is not being use like the other market like the stock market and more so it will not give any loss effect to the economic state but only to those bitcoin users.
We see the case of China bans bitcoin. Many already know how good the country's economy. It seems the government is worried if one day bitcoin is not worth anymore then the country will also participate in losses because in China there is the largest bitcoin market. if viewed from the user's individual point of view, it is clear that bitcoin affects the individual economy. many already feel the benefits and advantages of "playing" bitcoin.
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