The impact of Bitcoin on the. Global economy at large

Nangiconference

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Activity: 116

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Quote from: Sir_Garry55 on February 10, 2024, 07:39:09 AM

The value of Bitcoin goes up and down a lot and they are those in different sectors in the financial market that benefits from this when it's unstable, but it doesn't favour some people running specific businesses
If Bitcoin is more stable it will be easier to use, the question is , will this ever happen?

I no gree say biticoin go fit Dy stable. Na the concept volatility wey b one major feature of bitcoin nay go explain am better. dat concept mean say the thing go always Dy go up and down person no fit predict am. The volatility arise as a result of the demand and supply for bitcoin. When so many people wan buy, the price go high and when plenty wan sell, the price go drop wey b dip. At one point when traders analyze market dem Dy feel to transact. And know say if to say en no get up and down, the thing for no get profit na the exact amount wey person invest nay person for still withdraw. Na d up and down make am sweet. Me I Dy find who to teach me o. Senior men Una boy Dy loyal make Una carry me along o.

Jaycoinz

full member

Activity: 476

Merit: 230

God is All

Quote from: Sir_Garry55 on February 10, 2024, 07:39:09 AM

Bitcoin has left it's mark on the global economy and it is definitely a game changer in the financial market
It is changing the worlds economy in many ways. As a result of this upgrade it has made money making fair and accessible to everyone
Some countries are encouraging their citizens to use Bitcoin because they know it's now a bigger part of the worlds economy
The value of Bitcoin goes up and down a lot and they are those in different sectors in the financial market that benefits from this when it's unstable, but it doesn't favour some people running specific businesses
If Bitcoin is more stable it will be easier to use, the question is , will this ever happen?

Ma guy volatility na one of the reason why Bitcoin itself sef dey this popular because the particular feature dey allow people to use am an investment and na dat one nai make people come like Bitcoin pass any other coins. When the price drop sef na advantage for person and even the price high sef na still advantage so I think nobody dey even pray make Bitcoin even dey stable rather even more unstable so that people go enjoy the benefits of getting rich by investing in Bitcoin overtime.

Claudksg

newbie

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The Bitcoin has come to stay in the world,the impact at large is one big thing to the world.satoshi creating Bitcoin was an angel God sent to bless the world and make another way for people to trade and earn profit for them self to survive.

Amphenomenon

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Hope Jeremiah 17vs7

Quote from: Sir_Garry55 on February 10, 2024, 07:39:09 AM

If Bitcoin is more stable it will be easier to use, the question is , will this ever happen?

This is possible, it is for majority of the full node users to accept the dev changes but I don't think this will ever be done since its irrelevant especially now.

The fact is no currency is entirely stable and an example is our fiat currency naira.
Bitcoin cannot be made a stable coin since, stable coin are pegged to fiat currency or asset since it came to solve a problem of the traditional currency which is the fiat currency. It can't be decentralise using this means since it will be depending on the price of such currency or assets.

Bitcoin uses the proof of work mechanism in order to function well were by Miners rewards for mining a block is being halved every 4 years and the next one is around April this year by which the miners will be earning about 3.25 bitcoin for successfully mining a block and also Bitcoin as a maximum of 21 million supply and currently about 19 million has been mined already, the price has to constantly increase, so that these miners can continue to validate blocks and not being choked up by expenses.

The volatility of Bitcoin as made bitcoin price raise significantly as time goes by and many bitcoin investors has been able to have a better standard of living through it

Bitco55

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Activity: 289

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What's your question exactly ? Is it if Bitcoin being stale would ever happen ? Or whether if it becomes stable it'll be easier to use.

Cause, the probability of both happening depends on 1 thing and that is increase in adoption of Bitcoin. Bitcoin's market capitalization is over 60m and although seems like a lot, its market capitalization needs to get to over a trillion dollars before it can be stable and become easier to use.

For this to happen, a lot of economies would have to have failed, just like Venezuela, and then restructure its monetary system. The impact of Bitcoin on the global economy would be a tough fight, but fiat is already failing, we just have to wait and see what happens in the future cause even though it has been made to be an alternative, Bitcoin ( or if someone can come up with something better) can end up becoming something more than just an alternative.

Bright0515

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Activity: 197

Merit: 46

Bro I know say Bitcoin Dom help many people as u talk am especially the youths but I no think say to talk am say na economy development say I welcome that one Omo see people dey wen Dom collect Bitcoin money major for this our country alone sef but if you come look into this matter like this inside developed cities for this our country when high Bitcoin traders dey things dey cost no be small I know of some places sef.
Bitcoin dey only help the street, since this Bitcoin come outside stand well wey people put body so I fit say some illegal things for the street Dom reduce things like armed robbery, kidnapping and many more cause many people now Dom hear about the testimony of others concerning this Bitcoin matter so nobody wan carry last I mean nobody wan gree for anybody naim make but for the economy aspect bro make we leave that side nothing Dom happen.

DaveNeck

jr. member

Activity: 41

Merit: 1

Quote from: Sir_Garry55 on February 10, 2024, 07:39:09 AM

Bitcoin has left it's mark on the global economy and it is definitely a game changer in the financial market
It is changing the worlds economy in many ways. As a result of this upgrade it has made money making fair and accessible to everyone
Some countries are encouraging their citizens to use Bitcoin because they know it's now a bigger part of the worlds economy
The value of Bitcoin goes up and down a lot and they are those in different sectors in the financial market that benefits from this when it's unstable, but it doesn't favour some people running specific businesses
If Bitcoin is more stable it will be easier to use, the question is , will this ever happen?

If you look closely at the economy of a nation or currency u will discover that it's not always fixed it goes up and down Bitcoin is no different, Bitcoin rises n drops but over the years it is known for its accountability reliability one can trust that it doesn't fail

Sir_Garry55

jr. member

Activity: 88

Merit: 8

Bitcoin has left it's mark on the global economy and it is definitely a game changer in the financial market
It is changing the worlds economy in many ways. As a result of this upgrade it has made money making fair and accessible to everyone
Some countries are encouraging their citizens to use Bitcoin because they know it's now a bigger part of the worlds economy
The value of Bitcoin goes up and down a lot and they are those in different sectors in the financial market that benefits from this when it's unstable, but it doesn't favour some people running specific businesses
If Bitcoin is more stable it will be easier to use, the question is , will this ever happen?

Topic: The impact of Bitcoin on the. Global economy at large (Read 125 times)