Topic: The influence of cryptocurrencies in economy (Read 456 times)
When cryptocurrency entered the market, people were not very enthusiastic about it. However, we have seen that Bitcoin and virtual currencies have gradually become more popular among people. And nowadays, people are mostly using Bitcoin in various ways including transactions and using this Bitcoin people are enjoying its many benefits. Day by day the number of Bitcoin investors is increasing and the demand for Bitcoin is also increasing. As the price of Bitcoin is increasing day by day, its demand is increasing and people are getting more attracted to invest in it, and they always trust Bitcoin a lot. And right now as this Bitcoin circulation has become very popular all over the world and people are investing in Bitcoin and their countries are becoming economically self-sufficient. And when a country invests in bitcoins, they tend to improve economically because bitcoins always change the economic position of a country.
This was the reason behind the government of various countries try to regulate to control the money flow in the market.
The government has two choices: either they accept bitcoin and cryptocurrencies and try to use it to their advantage and save a little of their economic state from becoming completely ruined or they try to drive away cryptocurrency from their country disallowing their citizens from partaking in such activities will result in not the erasure of cryptocurrency but instead the illegal and a much secretive use of bitcoin.
The governments should find a line between safe and innovative. No matter what their opinion is: this is our future and it is what will save us from the crippling inflation.
The two options they have is to eliminate its circulation so there main interest will prevail and they erase those what they think a competition which can affect their interest so they may have a soft flow on what they are trying to implement on their country.
The other one is to adopt and implement a law to cut some percentage on each transaction then declare it as a tax of each users on their country. For that for sure they can get a lot of money knowing that crypto can bring a lot of money for them and it can save their economy especially if they get another source of income which can help their country to grown.
The government just need to see the positives about this and if they choose to remain close minded on the growth then maybe we cannot see anything improvement that will happen to our country.
This was the reason behind the government of various countries try to regulate to control the money flow in the market.
The government has two choices: either they accept bitcoin and cryptocurrencies and try to use it to their advantage and save a little of their economic state from becoming completely ruined or they try to drive away cryptocurrency from their country disallowing their citizens from partaking in such activities will result in not the erasure of cryptocurrency but instead the illegal and a much secretive use of bitcoin.
The governments should find a line between safe and innovative. No matter what their opinion is: this is our future and it is what will save us from the crippling inflation.
On the other hand,crypto is growing rapidly at the moment and has been noticed by people and has not yet had an influence
on the economy at this time but is very helpful with its very dynamic online system and bitcoin has helped many individuals to build their finances.
cryptocurrency has many uses in the economy . currently , with its implementation ,we are a big impact on the economy,
which is progressing slowly because many people have received it
on the economy at this time but is very helpful with its very dynamic online system and bitcoin has helped many individuals to build their finances.
cryptocurrency has many uses in the economy . currently , with its implementation ,we are a big impact on the economy,
which is progressing slowly because many people have received it
Now the bitcoin and most of the cryptocurrency had huge trust by the people around the world.This was the biggest reason for bitcoin demand was increasing with the period of time.The bitcoin already crossed the decade of survival,So this was the biggest change in the current economy.Many people from the various countries use the bitcoin and cryptocurrency in some way either for the investment or for holding their assets in the digital form.This was the reason behind the government of various countries try to regulate to control the money flow in the market.
The direction is correct to control the flow of money in the market where currently dicrypto investment has provided a new paradigm for the global economy for the reason of balancing innovation with financial security from bad things, but if on the contrary when the price of crypto goes down, no one cares and they let it go. This happened until the traders gave up.
We know that the government, through the central bank, can intervene in the market when it sees its currency falling too sharply, which will have a big impact on economic conditions in a country, but the government should look for another way with a better formula without too much intervention if crypto, let alone BTC, has become everyone's idol. person.
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The unchanging rule of supply and demand makes Bitcoin a key player in the changing financial scene. Its finite supply protects against inflation and guides those seeking sanctuary from central banking missteps
Bitcoin is a fairly volatile asset but the relationship between supply and demand and limited supply can influence bitcoin to continue to experience new prices. That's why we see why the price of bitcoin can change so quickly because there is no such thing as stability in the price of this kind of asset.Your trust observation is correct. In spite of government scepticism, adoption is accelerating. Now to the main issue; the speculative tag. Herein lays the biggest misunderstanding. Bitcoin's volatility is a sign of a maturing asset finding its foothold in a turbulent world
Economic influence requires time. Rome wasn't built in a day, and Bitcoin's globalisation won't either. Its inherent features will make it widespread, not speculation. Decentralisation, security, and limited supply are the foundation of a new economic paradigm. Today's sceptics will be believers tomorrow. Mark my words
With increasingly widespread adoption, this is a sign that Bitcoin is becoming an indirect part of influencing the economy, although sometimes currently we still see it in a limited scope because it is more up to individuals to determine this role. Volatility also provides the impetus for why these assets can change so quickly, but the supply and demand process still has the most important role in efforts to bring prices up or down.Economic influence requires time. Rome wasn't built in a day, and Bitcoin's globalisation won't either. Its inherent features will make it widespread, not speculation. Decentralisation, security, and limited supply are the foundation of a new economic paradigm. Today's sceptics will be believers tomorrow. Mark my words
There is a belief that not everyone has been able to penetrate towards bitcoin and that is normal because we can never see anything easily. Especially when it comes to people who are unfamiliar with technology and maybe some who understand technology are still skeptical about Bitcoin. Tomorrow they will believe in bitcoin much more than us and that happens even to each of us who initially did not believe in bitcoin.
Since Bitcoin is decentralized regarding currency management, its value is not controlled by any specific person. And as its use increases so does its value and use, so governments in different countries impose various policies to facilitate and control the flow of money. When the internal financial movement of a country increases, the economic development of that country must increase gradually. As the value of BTC rises, so does the value of other currencies. Thus when profit is coming from the total investment of a country it helps to make the economy of that country prosperous.
The crypto currency doesn’t have a red carpet welcome when it enter the market.The bitcoin itself doesn’t have huge investors at the beginning,after the survival for certain period of time.The bitcoin had build their own trust among the users,the biggest reason is the Bitcoin was the decentralised cryptocurrency.So no one had control over the price of bitcoin,only the market demands define the price of bitcoin.When the bitcoin had huge demand we can able to get into the bull run,as we recently get into the 51k mark on the Bitcoin price.
Now the bitcoin and most of the cryptocurrency had huge trust by the people around the world.This was the biggest reason for bitcoin demand was increasing with the period of time.The bitcoin already crossed the decade of survival,So this was the biggest change in the current economy.Many people from the various countries use the bitcoin and cryptocurrency in some way either for the investment or for holding their assets in the digital form.This was the reason behind the government of various countries try to regulate to control the money flow in the market.
Even though demand has increased, the amount of supply has remained the same from its inception until now, so this is what makes Bitcoin increasingly superior and makes it one of the fundamental coins. Bitcoin has gained more trust and adoption is proceeding rapidly despite the bans attempted by several governments. Now people are starting to realize that bitcoin is superior in storing value because this asset has a recurring cycle rate. I see the development process of increasingly widespread adoption where previously doubtful people became increasingly confident in Bitcoin's future.Now the bitcoin and most of the cryptocurrency had huge trust by the people around the world.This was the biggest reason for bitcoin demand was increasing with the period of time.The bitcoin already crossed the decade of survival,So this was the biggest change in the current economy.Many people from the various countries use the bitcoin and cryptocurrency in some way either for the investment or for holding their assets in the digital form.This was the reason behind the government of various countries try to regulate to control the money flow in the market.
Bitcoin is uncertain in several countries because it is seen as speculative so it cannot influence the overall economy. There is still room for separation because bitcoin is still seen as an investment made by individuals and it may take time to make it a source of general economic change. Some countries still apply strict regulations and the rest see bitcoin as an investment asset so reaching the global economy is not yet possible.
Your trust observation is correct. In spite of government scepticism, adoption is accelerating. Now to the main issue; the speculative tag. Herein lays the biggest misunderstanding. Bitcoin's volatility is a sign of a maturing asset finding its foothold in a turbulent world
Economic influence requires time. Rome wasn't built in a day, and Bitcoin's globalisation won't either. Its inherent features will make it widespread, not speculation. Decentralisation, security, and limited supply are the foundation of a new economic paradigm. Today's sceptics will be believers tomorrow. Mark my words
Now the bitcoin and most of the cryptocurrency had huge trust by the people around the world.This was the biggest reason for bitcoin demand was increasing with the period of time.The bitcoin already crossed the decade of survival,So this was the biggest change in the current economy.Many people from the various countries use the bitcoin and cryptocurrency in some way either for the investment or for holding their assets in the digital form.This was the reason behind the government of various countries try to regulate to control the money flow in the market.
Well, bitcoin have made enough noise and enough popularity to shake the government and banks, they are the first ones who made the reaction as bitcoin's purpose is against their goals. Government can't control bitcoin and banks was once bothered by the fact that people may put their money in bitcoin to protect it from high inflation.
However, bitcoin may still not have enough adoption, popularity, and usage to make an impact to the economy compared to the primary commodities. Fortunately, we've been seeing the increase adoption every year and the clear evidence for that is the continued rise of bitcoin's value in the market. We'll never know when and how will bitcoin is going to make an impact to the global economy.
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Activity: 1498
Merit: 802
Leading Crypto Sports Betting & Casino Platform
The crypto currency doesn’t have a red carpet welcome when it enter the market.The bitcoin itself doesn’t have huge investors at the beginning,after the survival for certain period of time.The bitcoin had build their own trust among the users,the biggest reason is the Bitcoin was the decentralised cryptocurrency.So no one had control over the price of bitcoin,only the market demands define the price of bitcoin.When the bitcoin had huge demand we can able to get into the bull run,as we recently get into the 51k mark on the Bitcoin price.
Now the bitcoin and most of the cryptocurrency had huge trust by the people around the world.This was the biggest reason for bitcoin demand was increasing with the period of time.The bitcoin already crossed the decade of survival,So this was the biggest change in the current economy.Many people from the various countries use the bitcoin and cryptocurrency in some way either for the investment or for holding their assets in the digital form.This was the reason behind the government of various countries try to regulate to control the money flow in the market.
Even though demand has increased, the amount of supply has remained the same from its inception until now, so this is what makes Bitcoin increasingly superior and makes it one of the fundamental coins. Bitcoin has gained more trust and adoption is proceeding rapidly despite the bans attempted by several governments. Now people are starting to realize that bitcoin is superior in storing value because this asset has a recurring cycle rate. I see the development process of increasingly widespread adoption where previously doubtful people became increasingly confident in Bitcoin's future.Now the bitcoin and most of the cryptocurrency had huge trust by the people around the world.This was the biggest reason for bitcoin demand was increasing with the period of time.The bitcoin already crossed the decade of survival,So this was the biggest change in the current economy.Many people from the various countries use the bitcoin and cryptocurrency in some way either for the investment or for holding their assets in the digital form.This was the reason behind the government of various countries try to regulate to control the money flow in the market.
Bitcoin is uncertain in several countries because it is seen as speculative so it cannot influence the overall economy. There is still room for separation because bitcoin is still seen as an investment made by individuals and it may take time to make it a source of general economic change. Some countries still apply strict regulations and the rest see bitcoin as an investment asset so reaching the global economy is not yet possible.
The crypto currency doesn’t have a red carpet welcome when it enter the market.The bitcoin itself doesn’t have huge investors at the beginning,after the survival for certain period of time.The bitcoin had build their own trust among the users,the biggest reason is the Bitcoin was the decentralised cryptocurrency.So no one had control over the price of bitcoin,only the market demands define the price of bitcoin.When the bitcoin had huge demand we can able to get into the bull run,as we recently get into the 51k mark on the Bitcoin price.
Now the bitcoin and most of the cryptocurrency had huge trust by the people around the world.This was the biggest reason for bitcoin demand was increasing with the period of time.The bitcoin already crossed the decade of survival,So this was the biggest change in the current economy.Many people from the various countries use the bitcoin and cryptocurrency in some way either for the investment or for holding their assets in the digital form.This was the reason behind the government of various countries try to regulate to control the money flow in the market.
Now the bitcoin and most of the cryptocurrency had huge trust by the people around the world.This was the biggest reason for bitcoin demand was increasing with the period of time.The bitcoin already crossed the decade of survival,So this was the biggest change in the current economy.Many people from the various countries use the bitcoin and cryptocurrency in some way either for the investment or for holding their assets in the digital form.This was the reason behind the government of various countries try to regulate to control the money flow in the market.
Bitcoin has indeed gained more trust than before, and I, like many others, have benefited from cryptocurrencies like it. However, the inherent volatility of cryptocurrency can lead to significant profits for some, while also causing others to lose everything. Those who experience sudden windfalls are naturally inclined to spend them, ultimately contributing to the economy. Nevertheless, the use of cryptocurrency for everyday transactions remains limited, and its high price volatility discourages widespread trust.
The bitcoin had build their own trust among the users,the biggest reason is the Bitcoin was the decentralised cryptocurrency.So no one had control over the price of bitcoin...
Bitcoin's decentralization has nothing to do with control over its price. Bitcoin is decentralized not because nobody is dictating its price but because nobody is in sole control of Bitcoin itself. No single person or group decides on behalf of the network and its operation. It doesn't have a central server, a president, a CEO, or a headquarter. Bitcoin doesn't have a single point of failure.
If we talk of the price, on the contrary, then we can discuss of centralization to a certain extent. There are significant amounts of Bitcoin that are in the hands of certain individuals and institutions, and their decision is enough to influence the price of Bitcoin.
The crypto currency doesn’t have a red carpet welcome when it enter the market.The bitcoin itself doesn’t have huge investors at the beginning,after the survival for certain period of time.The bitcoin had build their own trust among the users,the biggest reason is the Bitcoin was the decentralised cryptocurrency.So no one had control over the price of bitcoin,only the market demands define the price of bitcoin.When the bitcoin had huge demand we can able to get into the bull run,as we recently get into the 51k mark on the Bitcoin price.
Now the bitcoin and most of the cryptocurrency had huge trust by the people around the world.This was the biggest reason for bitcoin demand was increasing with the period of time.The bitcoin already crossed the decade of survival,So this was the biggest change in the current economy.Many people from the various countries use the bitcoin and cryptocurrency in some way either for the investment or for holding their assets in the digital form.This was the reason behind the government of various countries try to regulate to control the money flow in the market.
Now the bitcoin and most of the cryptocurrency had huge trust by the people around the world.This was the biggest reason for bitcoin demand was increasing with the period of time.The bitcoin already crossed the decade of survival,So this was the biggest change in the current economy.Many people from the various countries use the bitcoin and cryptocurrency in some way either for the investment or for holding their assets in the digital form.This was the reason behind the government of various countries try to regulate to control the money flow in the market.
Bitcoin has indeed gained more trust than before, and I, like many others, have benefited from cryptocurrencies like it. However, the inherent volatility of cryptocurrency can lead to significant profits for some, while also causing others to lose everything. Those who experience sudden windfalls are naturally inclined to spend them, ultimately contributing to the economy. Nevertheless, the use of cryptocurrency for everyday transactions remains limited, and its high price volatility discourages widespread trust.
Only affects individuals involved in the crypto world who are looking to make money from crypto. but it will not have an impact on the global economy. and crypto players who make money from crypto are still small compared to the total population of the world so their influence on the economy is only limited to people who make money and their passion for crypto.
Of course, for those who already understand the world of crypto, they can benefit from crypto so they can improve their economy. But in my opinion Cryptocurrency also has a significant impact on the global economy.
Because the emergence of cryptocurrencies has accelerated the transformation of the global economy, especially in the context of digital payments and other transactions which have the potential to become international payment methods and be integrated into the market. At the same time, demand for cryptocurrencies has increased every year with many investors eager to invest in crypto, resulting in an increase in the number of startups and fintech platforms, of course this will have an impact on the global economy. Cryptocurrencies have also changed social and economic processes around the world.
Not totally right, global economy is based on groups, and amount of money that is involved with those groups. By logic, in 2008 mortgage should have only impacted the people who took out mortgages, but not only it did impacted them, and hurt the banks but also hurt the people who had nothing to do with it, the whole nation got hurt because of it and even some other nations as well.Of course, for those who already understand the world of crypto, they can benefit from crypto so they can improve their economy. But in my opinion Cryptocurrency also has a significant impact on the global economy.
Because the emergence of cryptocurrencies has accelerated the transformation of the global economy, especially in the context of digital payments and other transactions which have the potential to become international payment methods and be integrated into the market. At the same time, demand for cryptocurrencies has increased every year with many investors eager to invest in crypto, resulting in an increase in the number of startups and fintech platforms, of course this will have an impact on the global economy. Cryptocurrencies have also changed social and economic processes around the world.
So all in all, we could consider the fact that we may end up with the same thing about crypto as well. If there is a big group, when they get rich or get poor that impacts more people and it's like a wave. One group gets hurt and the rest gets hurt and that's just how it works eventually. We should not really consider it just based on one group at all.
Maybe in the past, bitcoin wasn't well known and only a few with the mindset of investment knew it, and they were the ones that believed and invested in it. But right now, because bitcoin or crypto currencies are becoming more hyped, many people are taking an interest in bitcoin. That's why the number of investors in it is increasing. But the thing is, what is the effect of bitcoin being known to so many? Well, if they can utilise or do great investments in bitcoin, then I'm sure many people will prosper, wherein they can earn a considerable amount through investing in it, and it will be more beneficial if this concept is introduced at a younger age so they can be aware and open about how they can earn despite being young or students. In that way, the economy will be good because more and more people have an investment mindset.
Except for a few countries like El Salvador, that have adoption Bitcoin, on a macro level, the influence of Bitcoin on the economy is mainly on the micro levels, being in the personal economy of individuals, because it's a source of income in terms of using it for investment and trading purposes. Bitcoin was created to carter for decentralized p2p transaction, where two individuals can perform transaction without the intereferance of a third party and centralized authorities like governments, but because of it's slow adoption worldwide and governments trying to regulate it, makes it to be used more as investment and trading by individuals mainly.
I don't think the adoption of Bitcoin (and other cryptocurrencies) has influence on only individuals and households. In every country where the citizens use Bitcoin (crypto) either for p2p transactions or as an investment, the economy of the country suffers a slight reduction in national revenue. This is because some cryptocurrency (especially Bitcoin) transactions and investments are unintentionally excluded from tax because of the decentralized and privacy status of most of this cryptocurrencies.
Why do you think the governments of most countries are against the adoption of Bitcoin and some other cryptocurrencies? It is because the goverments of these countries see Cryto as a threat to their economy and maybe national security as they may portray it. You can now see that cryptocurrency is also a thing of national concern which means, its influence can be felt in both the micro and macro economies.
Hedging is cool for managing risk, but it's not quite the same as investing in Bitcoin for long-term gains. Think of it like wearing a raincoat to avoid getting soaked – good for protection, not necessarily for catching a tan. Investing in Bitcoin is more like hoping for a sunny future and a sweet beach bod.
Bitcoin's whole "no central bank, everyone's in charge" thing is pretty unique. It's helped it survive the wild west of crypto, but it's not the only reason. Bitcoin was there first, has a bunch of users, and does its thing differently than others – that all plays a role too.
Using Bitcoin to buy stuff is still tricky. Think legal hurdles, crazy price swings, and not being able to buy your morning coffee as easily as with cash. It might be the future, but for now, it's more like a collector's item than your everyday wallet.
Bitcoin's whole "no central bank, everyone's in charge" thing is pretty unique. It's helped it survive the wild west of crypto, but it's not the only reason. Bitcoin was there first, has a bunch of users, and does its thing differently than others – that all plays a role too.
Using Bitcoin to buy stuff is still tricky. Think legal hurdles, crazy price swings, and not being able to buy your morning coffee as easily as with cash. It might be the future, but for now, it's more like a collector's item than your everyday wallet.
The increasing trust of people around the world in Bitcoin is because there are very profitable opportunities by involving Bitcoin into the economy. One of the things that most attracts investors' interest in Bitcoin is because it has a positive impact on the functioning of the monetary system due to ease of access, security and stability of the financial system which can influence economic growth. Governments in various countries consider Bitcoin to be very influential in driving economic growth. The strong influence in economic growth makes governments facilitate investors with strictly regulated regulations involving Bitcoin into the system through policies to strengthen the financial ecosystem.
One big influence is that of forcing the hand of many governments to instead digitize the local fiat by creating something similar to crypto which is the CBDC.
The welcoming of cryptocurrency by many citizens was soon thought to be checked by the CBDC innovation but it only made the interest of cryptocurrency spread more because people got to understand that the government wants to be in control of the economy in total and thus keep peoples wallets and income and investment controlled by using banks and financial institutions that have their customers identity.
Another influence is that of ease of which payments for purchase of items and trade both online and across border has been. The P2p innovation sure made things easier and the fees come small compared to using banks for international trade which could cost much more and with a lot of eyes and noses poking holes as to why such a transaction was made.
The welcoming of cryptocurrency by many citizens was soon thought to be checked by the CBDC innovation but it only made the interest of cryptocurrency spread more because people got to understand that the government wants to be in control of the economy in total and thus keep peoples wallets and income and investment controlled by using banks and financial institutions that have their customers identity.
Another influence is that of ease of which payments for purchase of items and trade both online and across border has been. The P2p innovation sure made things easier and the fees come small compared to using banks for international trade which could cost much more and with a lot of eyes and noses poking holes as to why such a transaction was made.
Except for a few countries like El Salvador, that have adoption Bitcoin, on a macro level, the influence of Bitcoin on the economy is mainly on the micro levels, being in the personal economy of individuals, because it's a source of income in terms of using it for investment and trading purposes. Bitcoin was created to carter for decentralized p2p transaction, where two individuals can perform transaction without the intereferance of a third party and centralized authorities like governments, but because of it's slow adoption worldwide and governments trying to regulate it, makes it to be used more as investment and trading by individuals mainly.
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