Topic: The influence of cryptocurrencies in economy - page 2. (Read 455 times)
The micro economic impact may already be visible because based on what has happened, every individual who is involved in Bitcoin and cryptocurrency is now getting benefits, especially economic improvements. Individually, it clearly has an influence, but in terms of broad matters relating it to the country's economic growth, I think it is still far away. Not because they don't understand or are interested in adopting it, but because it is decentralized so it cannot guarantee that the state is able to control the entry and exit of money.
I find the op's post pretty weird because it combines different things, but not in a coherent way. The name of the topic is the influence of cryptos on the economy, but the post isn't about that.
Bitcoin has significant trust of people, okay, but that doesn't apply to "most of the cryptocurrency" at all because most cryptos are actually useless worthless altcoins, probably ICO scams.
Then there's a part where Bitcoin has survived for a decade (1.5, at least, at this point), and that this is the biggest change in economy. How is Bitcoin's survival the biggest change in economy?
Also, "bitcoin and cryptocurrency" are being used either for investment or for hodling assets, according to the op, but viewing Bitcoin as an asset and hodling it IS using it as an investment!
Bitcoin has significant trust of people, okay, but that doesn't apply to "most of the cryptocurrency" at all because most cryptos are actually useless worthless altcoins, probably ICO scams.
Then there's a part where Bitcoin has survived for a decade (1.5, at least, at this point), and that this is the biggest change in economy. How is Bitcoin's survival the biggest change in economy?
Also, "bitcoin and cryptocurrency" are being used either for investment or for hodling assets, according to the op, but viewing Bitcoin as an asset and hodling it IS using it as an investment!
There are several unique features in Bitcoin and other cryptocurrencies comparing to fiats which is regulated by the government.
These features are
✓ The decentralization which non authorized by any regulatory authorities.
✓ The digital formula which the currencies is used for alternative form of payments on a P2P transactions method.
✓ Also with the potentials of its volatilities with the pros & the cons giving it the feature of digital investment trades where the investors have to buy and hodles their Bitcoins on a self decision if to run a short term or a long term goal investment.
These features are
✓ The decentralization which non authorized by any regulatory authorities.
✓ The digital formula which the currencies is used for alternative form of payments on a P2P transactions method.
✓ Also with the potentials of its volatilities with the pros & the cons giving it the feature of digital investment trades where the investors have to buy and hodles their Bitcoins on a self decision if to run a short term or a long term goal investment.
Cryptocurrency does not affect economies of countries. It's correct that there are people who see it as an investment but to is not yet as popular to hugely impact the economy of a nation.
If Bitcoin adoption keeps growing and attracting more people it can have enough of a impact to influence economies, but not yet.
If Bitcoin adoption keeps growing and attracting more people it can have enough of a impact to influence economies, but not yet.
I think it has impacted the economy of the world in general. Because Bitcoin is money, it matters and every transaction made counts as an effect to economy. If we check the amount of money invested in cryptocurrencies at a global scale, then it is obvious. For its impact on each independent countries, it has the potential and is beginning to happen already which I think is why countries are restricting it.
OP, I don't get the point of your forum thread. Are you trying to ask a question? Are you trying to explain the growth of Bitcoin in the past 10 years with a few sentences? To answer your question(if this really is a question), the influence of cryptocurrencies over the global economy is somewhere in the range between small and non-existent. Yes, several million people around the world use crypto, but this number is still relatively small. Nobody knows how many people are actively using crypto. Maybe 10 million. Maybe 30 million. This is the population of a medium-sized country. This shows that there's plenty of room for growth.
bitcoin's journey to get to where it is today was not easy, there was a steep road that bitcoin traversed until it was finally adopted by many people, such as rejection from the government, exchange scandals, etc. but even so bitcoin continues to grow into one of the most active trading markets in the world, even though its valuation is still less than the stock market, commodities, etc., over time bitcoin will probably become a large market with a high valuation and perhaps at that time bitcoin will be more accepted globally.
Bitcoin is a very popular currency. Its demand is so high that it alone dominates the entire market. It is a very trusted currency. It's price goes up often. And people like to hold this currency. So its price is always high. During bull run its price goes up several times. BTC is directly used in almost every country in the world. So it's pretty good for the economy. influences
only affects individuals who are involved in the crypto world looking for money from crypto. but will not have an impact on the world's global economy. and crypto players who make money from crypto are still small in number compared to the total population of the whole world so the effect on the economy is only limited to people who are looking for money and their passion in crypto.
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.
only affects individuals who are involved in the crypto world looking for money from crypto. but will not have an impact on the world's global economy. and crypto players who make money from crypto are still small in number compared to the total population of the whole world so the effect on the economy is only limited to people who are looking for money and their passion in crypto.
It would take another decade or so and another el Salvador situation to be access the impact cryptocurrencies on the economy of any country however it must be under strict criteria. Until then, crypto and the economy will be two parallels.
It may have little impact in the economy of other countries, with very small dealings with crypto, but for sure it os already influencing some of the lives of their people.
For now, why not be grateful that this market is making waves in the financial sector? It has influence over a lot of crypto users around the globe and for sure has alleviate the living of some of these people. A perfect example are some users in this forum who are part of good-paying campaign, I am assuming their weekly payout is augmenting some of their living expenses. And that is because we have this crypto-related forum which is open to all people from across the globe.
Say about the entire crypto market is what the government of each country is looking at. We've seen people that are jobless that have made their own dedication and allotted time into full time airdropping and bounty hunting.
Some may be successful in it and those that earns real money from it contributes to a country's economy. They have to see that part where someone who doesn't have a source of income but because of the crypto market itself and the opportunities that are in it, gives someone an opportunity to earn although they're temporal.
Some may be successful in it and those that earns real money from it contributes to a country's economy. They have to see that part where someone who doesn't have a source of income but because of the crypto market itself and the opportunities that are in it, gives someone an opportunity to earn although they're temporal.
That actually is very true. In this forum alone, we have seen users who are dedicating themselves in bounty and airdrop hunting. Some may be successful from their quest but I guess if they are offering their skills or services in exchange of crypto payment, they can really get good money. Just like joining in art contest run by some casinos here. The rewards are quite good if you are an artist.
It would take another decade or so and another el Salvador situation to be access the impact cryptocurrencies on the economy of any country however it must be under strict criteria. Until then, crypto and the economy will be two parallels.
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 most pronounced influence in the economy is hedging.Bitcoin has a system that most other cryptocurrencies follow Bitcoin. Decentralization is the concept that has made Bitcoin survive to this day in my opinion and is known as an asset that has a strong foundation. Basically, the use of Bitcoin as a long-term investment asset by the majority of people in the world is because Bitcoin has proven its value as has been widely discussed in various discussion rooms by people with sufficient experience and expertise.
Because the use of Bitcoin as a currency is still hampered throughout the world, making Bitcoin an investment asset could be the right step because the goal of people adopting it is for an investment that can generate profits from the large number of requests.
Cryptocurrency has many positive impacts on the economy because I have seen many people who have good levels of education, and degrees but they do not have any jobs to meet their daily expenses they are worried and looking for their jobs to meet their daily and family and personal expenses as well. Here Stands this field in their favor where no degree is needed to qualify, and no boss, People are their own boss here in this field.
All that is needed here is good learning of Technical analysis and fundamental analysis. The more knowledge will you gain will be count as less because market sentiments are too unpredictable and we have to stay in the learning phase. Knowledge is the power here in the crypto space. So, I have seen many young age kids making a good amount of money from crypto and they are bearing their own expenses. So there is no doubt cryptocurrencies are playing a positive role in the economy.
All that is needed here is good learning of Technical analysis and fundamental analysis. The more knowledge will you gain will be count as less because market sentiments are too unpredictable and we have to stay in the learning phase. Knowledge is the power here in the crypto space. So, I have seen many young age kids making a good amount of money from crypto and they are bearing their own expenses. So there is no doubt cryptocurrencies are playing a positive role in the economy.
Having crypto in everyday persons life makes it so much better for the longest time. It enhances the possibility of making more money and having an out.
Right now, regular people (who are the majority in the world) who makes normal amount of money, the median average or less, those people will not have the financial freedom that easily, a few may end up giving up 20 years of their life, just spend as minimum as possible, do not go out, do nothing basically and save and have a better life after that, which I respect if that's their choice but most people want to live their life as well which causes a lot of trouble for finances. Crypto shows a way out of there and could be the most important asset that we have seen in our life.
Right now, regular people (who are the majority in the world) who makes normal amount of money, the median average or less, those people will not have the financial freedom that easily, a few may end up giving up 20 years of their life, just spend as minimum as possible, do not go out, do nothing basically and save and have a better life after that, which I respect if that's their choice but most people want to live their life as well which causes a lot of trouble for finances. Crypto shows a way out of there and could be the most important asset that we have seen in our life.
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.
Bitcoin has grown over the years to become one of the leading currencies and investments. Before now, it was neglected and seen as a currency that would not last for a long time. But Bitcoin has proved these sceptics wrong because it has kept attracting personal and institutional investors. The decentralised nature of Bitcoin is what distinguishes it from other crypto and fiat currencies. 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 helped individuals and businesses to build their finances, however, the effect of Bitcoin on the economy of nations is still sketchy. El Salvador is a case study of how Bitcoin can affect an economy, but we still need to give the country more time before will begin to evaluate how Bitcoin has contributed to the development of the country's economy.
Most unfriendly have failed to control Bitcoin because of its decentralised nature, but they have started making policies to regulate it. But as much as we keep using decentralised platforms, they might not be able to control Bitcoin.
Cryptocurrency particularly Bitcoin is reshaping the economy by introducing decentralised digital currencies that operate independently of traditional banking systems. Its impact includes increased adoption by retail & now institutions which leads to new investment opportunities & financial innovations. Challenges such as price volatility & regulatory uncertainties persist. Bitcoin is disrupting traditional financial systems prompting discussions on the future of money & the potential for a more inclusive & efficient financial landscape.
The price alone is not the driver for investing in Bitcoin, otherwise it is impossible for Bitcoin to rise again after its collapse by 80%.
Bitcoin has a market value greater than just being an investment or because of the market’s capacity, and to date, central banks’ statements are against cryptocurrencies and Bitcoin. The fact that Bitcoin is popular means that its value increases, but the lack of huge investors will not make its value very low.
Bitcoin has a market value greater than just being an investment or because of the market’s capacity, and to date, central banks’ statements are against cryptocurrencies and Bitcoin. The fact that Bitcoin is popular means that its value increases, but the lack of huge investors will not make its value very low.
If you look around the world today, you will know that majority of people that are not using cryptocurrency in the world are more than those that are using cryptocurrency to boost their wealth and, I don't think it can influence economy negatively or positively because is a decentralized currency that is not control by any government or country of the world.
There are many countries in the whole world who don't legalize BTC in their countries and, any citizens find using it for any transaction he or she will face the punishment which is among some things that is causing the users to be very few in some countries because, they don't want to disobey the law of their land.
There are many countries in the whole world who don't legalize BTC in their countries and, any citizens find using it for any transaction he or she will face the punishment which is among some things that is causing the users to be very few in some countries because, they don't want to disobey the law of their land.
Cryptocurrencies have emerged as a revolutionary force in finance and technology. Cryptocurrencies have multiple uses as the technology evolves challenging the financial system and attracting the attention of investors, businesses and governments. The use of cryptocurrencies makes it possible to transact in the remittance sector at a lower cost than before. A large population of the country is preferring crypto over banking facilities. Cryptography and blockchain technology are playing an important role to include them in this service easily and quickly.
The view of the mainstream economy for crypto is via the tech spectrum and developments there being somewhat related. The other aspect would be finance and modern tech elements to startup banking especially serving consumer demand for dynamic online payments. Many countries are willing to welcome crypto on the basis of job creation in a growth sector, though its volatile BTC is not new and unknown any more so can better justify itself and demand a place at the table.
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