Topic: The influence of cryptocurrencies in economy (Read 463 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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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.
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.
I doubt if cryptocurrency had huge trust by the people, people around myself only know the definition, but if you ask them whether they have cryptocurrency or not, mostly they will say no. It could be they just want to protect their privacy, but majority of people are don't care with privacy too.
Even though Bitcoin is a huge change to centralization, but the government don't have any problem with Bitcoin because people willing to use CEX to trade their coins, so the government can easily know the wealth and trading history of every person.
Even though Bitcoin is a huge change to centralization, but the government don't have any problem with Bitcoin because people willing to use CEX to trade their coins, so the government can easily know the wealth and trading history of every person.
The rapid rise of Bitcoin is about changing how we value and trust. Although governments scramble to regulate, they can't control it. That's Bitcoin's beauty and beast. Game-changing because it challenges economic paradigms. You mentioned trust? It's financial autonomy paradigm shift, not just trust. People hate economic puppeteers and centralization. Bitcoin is a decentralized alternative. Its decade-long survival shows its endurance and the global desire for financial freedom
How about cost? It reflects the communal belief in a non-traditional system, not merely demand and supply. It will endure and expand because it is a financial beacon
How about cost? It reflects the communal belief in a non-traditional system, not merely demand and supply. It will endure and expand because it is a financial beacon
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.
So far, Bitcoin is still doesn’t have any impact that can affect a country economy. The demand on Bitcoin is still not effect to consider it to affect economy. It’s the opposite, The current economy affects Bitcoin positively since people choose Bitcoin as safe haven investments to dodge economic crisis due to inflation and recession.
Bitcoin is still not a legal tender on a major country. Which means fiat is still control the majority of the global economy. But maybe in the future this thread will stand if everyone is already using Bitcoin as substitute to fiat for all kind of transactions.
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.
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Well if you're talking about the crypto scene in general, and not the economy itself, then yeah, it has changed over the years mainly due to crypto being part of the developing mainstream. It still has some issues with some countries here and there but at the very least, most people have taken notice of it or have some semblance of idea (the idea being correct or not is another topic) about the term itself. Now if we're going to talk about its impact to the economy, I don't think there's going to be one, at least not yet. I'd at the very least wait till most chains of major businesses are able to transact with Bitcoin or crypto in general before even trying to tally up whatever effects it can probably have.
Bitcoin is still in an uncertain state for many countries, and it is unlikely to have an impact on the economy. Some countries are slowly getting used to it, while others are introducing strict rules. But of course, the digital revolution is changing the world more and more, thereby changing our economic reality. But while there are no general rules of regulation and stability, in order to ensure successful development, Bitcoin will remain in a gray zone for many countries and will not affect the economy in any way.
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.
From no influence to one of the biggest market today, and this is the story of Bitcoin and cryptocurrency.
We all know adoption is still a problem to many but still the effect of cryptocurrency in the economy is still positive despite of the challenges when it comes to regulations. Many people are making money in cryptomarket and that could be the start of the cycle to affect the economy. We have to be more wise in spending our earnings, and know how to pay the taxes properly to avoid any charges or fees from the government regulation, crypto is indeed making a good impact now.
We all know adoption is still a problem to many but still the effect of cryptocurrency in the economy is still positive despite of the challenges when it comes to regulations. Many people are making money in cryptomarket and that could be the start of the cycle to affect the economy. We have to be more wise in spending our earnings, and know how to pay the taxes properly to avoid any charges or fees from the government regulation, crypto is indeed making a good impact now.
It's true that due to decentralized nature of Bitcoin no one can control its growth. It's the investors who invest fiat into Bitcoin that helps Bitcoin to grow in value.
All traditional fiat currencies are controlled by the centralized system but Bitcoin is free from that centralized system and anyone can use it without any restrictions.
Yes, I highly agree that many people use Bitcoin from all over the world. Some people purchase Bitcoin and hold it for years so they can earn huge profits when its value grows.
There are investors who even think that Bitcoin can reach $1M in near future and they're so firm in their belief that they have been holding their Bitcoin for many years.
Surely, it's due to Bitcoin that other crypto-currencies are also able to get some share of users.
All traditional fiat currencies are controlled by the centralized system but Bitcoin is free from that centralized system and anyone can use it without any restrictions.
Yes, I highly agree that many people use Bitcoin from all over the world. Some people purchase Bitcoin and hold it for years so they can earn huge profits when its value grows.
There are investors who even think that Bitcoin can reach $1M in near future and they're so firm in their belief that they have been holding their Bitcoin for many years.
Surely, it's due to Bitcoin that other crypto-currencies are also able to get some share of users.
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.
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