what are the effects of bitcoin on the world economy?

Adek nadia

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Quote from: Tuyul Gupies on December 11, 2017, 01:03:59 AM

since the bitcoin I see the purchasing power of the community increases, more and more new rich people who appear due to bitcoin, well what I ask is whether its influence on the economy since adany bitcoin until now whose price reaches 1600 $

let's share

if the Bank of England considers the existence of bitcoin can aggravate the state's finances but I think it is not because of the existence of bitcoin is not in contact With the government and rising or falling bitcoin will not affect the bad economy or politics around the world .

Adnan Saleem

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The term “Economy” is too broad, It encompasses all activity related to production, consumption and trade of goods and services in a country. So to trade you need a convenient medium of exchange that is currency and to issue a currency you need a trusted party like government and central bank. That’s where Bitcoin is challenging the traditional methods.

Bitcoin definitely has created many parallel economies, It has potential to throw some big companies out of the business. It may serve as an alternate medium of exchange for countries in future....

PizzaBTC

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Quote from: didoubk on December 14, 2017, 07:41:56 AM

the world is developping, and specially the economic world through the new technologies. Bitcoin is one of the technologincal revolution which is working on changing the economic world. The affects can be specially on cash and real currencies. Maybe gold and banks can stop being leaders.

Bitcoin is just a currency like USD but is digital. Bitcoin is very helpful for public, it gives benefit to them and improve their economic conditions but then if we compare it to the whole world then I think that it can help but a bit. The world economy wouldn't be effected too much because it is a currency and the amount of whole money in the world is fixed.

I think bitcoin can't change the economy of the world and it don't need to but it greatly improves the economic conditions of people, which is very useful for both the people and bitcoin.

rickadone

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Quote from: benmartin613 on December 11, 2017, 05:10:33 AM

Quote from: Tuyul Gupies on December 11, 2017, 01:03:59 AM

well what I ask is whether its influence on the economy

It doesnt effect the economy but it effect the people who uses bitcoin, people who are in bitcoin are into trading they gain wealth only for themselves and the profit that they get doesnt affect the economy of such country.

Yes, it only affects the users of bitcoin and when the users are doing well, then apparently their lives will be affected and may also pave ways for some other ideas they have which may help solve some little employment issue.

Still, when we are talking about the economy at large, then we have to also realize that not everyone would accept the usage of bitcoin and some will be limited to it. So, depending on the population of bitcoin users in each country, there may really not be much difference.

paul00

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I think the biggest effect of bitcoin in the econony is the increasing number of people who have been able to have a job and earn finances for their families and needs. Personaly, I had been able to provide myself more with what I earn in bitcoin and had a part time job which does not let me sacrifice my regular work.

tomwalsh

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Quote from: Tuyul Gupies on December 11, 2017, 01:03:59 AM

since the bitcoin I see the purchasing power of the community increases, more and more new rich people who appear due to bitcoin, well what I ask is whether its influence on the economy since adany bitcoin until now whose price reaches 1600 $

let's share

It's an interesting question. There is so much new wealth as a result of it but that wealth is only on paper. Seeing as the market for buying things with bitcoin is still so limited then people will need to convert it to fiat in order to spend it. If everyone decided to do this in order to physically capitalize on their bitcoin the price would collapse, its an interesting conundrum.

el kaka22

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Quote from: Gibreil on December 11, 2017, 04:55:21 AM

Quote from: Tuyul Gupies on December 11, 2017, 01:03:59 AM

since the bitcoin I see the purchasing power of the community increases, more and more new rich people who appear due to bitcoin, well what I ask is whether its influence on the economy since adany bitcoin until now whose price reaches 1600 $

let's share

We cannot see the global effect of bitcoin in the first 5 years but I am sure that time will come, bitcoin will change the world. Bitcoin changes our life, status and economy. Bitcoin might reform the current problems in every country specially starvation and poverty. We can see the bright of tomorrow.

In fact, 5 years is a whole lot. However, if we see a high demand for the usage of bitcoin and then we see a lot of people coming into the crypto world entirely, then it would be a moment that would create some huge rise for bitcoin and possibly may affect the fiat system. Before we end up seeing something like that though, it might take a while.

I hope it does as that totally depends on the adoption rate of each country. Even if we say it can help the poorer countries, we need not forget that they are already limited to resources and most of them may not even be in the show now considering they would not be able to get the information needed to be a part of this.

Nevertheless, looking at how a lot of things will change, regarding spending, transactions without limits and boundaries, it should have some positive effect.

tweetbit

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In my honest opinion and limited observation about economical aspect of my country. It has but depend of numbers investors in one country and in my country can only counted by hands, so it affect only on individual financial. There is none single study about it if I’m not mistaken and I really love to have a link shared for reference, so I can also read the data. Thanks if someone does.

didoubk

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the world is developping, and specially the economic world through the new technologies. Bitcoin is one of the technologincal revolution which is working on changing the economic world. The affects can be specially on cash and real currencies. Maybe gold and banks can stop being leaders.

gigatux

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I think right now bitcoin has no impact since it's not easily accepted in other countries such as in asian countries and many more. but when the future comes I think bitcoin will give a huge advantage in an individual's personal lives and because of this the decrease of poverty will make a huge influence with the growth of a country's economic growth

ausbit

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Quote from: fuer44 on December 12, 2017, 07:42:08 AM

Quote from: Tuyul Gupies on December 11, 2017, 01:03:59 AM

since the bitcoin I see the purchasing power of the community increases, more and more new rich people who appear due to bitcoin, well what I ask is whether its influence on the economy since adany bitcoin until now whose price reaches 1600 $

let's share

I think there is no significant effect for a country's economy. because so far, bitcoin is still a digital asset that has not been legalized by the government, and of course there is no tax for state revenue. and who invested, I think too little.

I don’t agree with you mate bitcoin has long lasting effects in good way on the economy and so far bitcoin has raised a lot of people’s living standard and all this will be more effective if it will be declared as he global coin as well and I am sure that the countries who have accepted bitcoin they are in good economic heath and their people are living a lavish life as well so it’s better that more countries to accept bitcoin.

Finestream

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Quote from: denny27 on December 14, 2017, 06:41:48 AM

Quote from: Tuyul Gupies on December 11, 2017, 01:03:59 AM

1600 $

$16000

If for the economic condition of each individual, I believe this is very helpful so far, because can be helped by incomes from bitcoin to meet the needs of daily life that can be used as a job of course.
But for the world economy or the whole country in general.. I thought it depends on each country's views / efforts on the development of the crypto currency, how to regulating it or responding on it, it being a good effect for the country or vice versa.

Speaking of economy, that's a big coverage but only few percentage of the total population can work for bitcoin, it's like working online actually but you will be paid with bitcoin instead of fiat. If you would ask me based on my opinion, I would say that there is no such great improvement bitcoin can give in terms of employment creation, most people are successful on bitcoin because they are risk takers, they invested their money and they are willing to hold for a longer period of time, that is why they are reaping the rewards now.

denny27

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Quote from: Tuyul Gupies on December 11, 2017, 01:03:59 AM

1600 $

$16000

If for the economic condition of each individual, I believe this is very helpful so far, because can be helped by incomes from bitcoin to meet the needs of daily life that can be used as a job of course.
But for the world economy or the whole country in general.. I thought it depends on each country's views / efforts on the development of the crypto currency, how to regulating it or responding on it, it being a good effect for the country or vice versa.

Kronos21

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I consider the emergence and popularity of bitcoin as a protest against the imperfections of the world financial system. It was built by the rich for themselves and all people have become its hostages. I do not believe that bitcoin can replace Fiat, but to make the richest people in the world to make the financial system more loyal to the people. To achieve this goal within the bitcoin community should not be contradictions. We all have different interests but the goal should be a single. So we have in all situations to learn to reach consensus and not to destroy bitcoin with their hands.

megget

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Quote from: Tuyul Gupies on December 11, 2017, 01:03:59 AM

since the bitcoin I see the purchasing power of the community increases, more and more new rich people who appear due to bitcoin, well what I ask is whether its influence on the economy since adany bitcoin until now whose price reaches 1600 $

let's share

I believe in blockchain, but I think a lot of people-hamsters will suffer from investing in bitcoin - will become investors or close in minus. Now a very large hype around Bitcoin

beerlover

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Quote from: stephanirain on December 11, 2017, 05:52:32 AM

Quote from: Tuyul Gupies on December 11, 2017, 01:03:59 AM

since the bitcoin I see the purchasing power of the community increases, more and more new rich people who appear due to bitcoin, well what I ask is whether its influence on the economy since adany bitcoin until now whose price reaches 1600 $

let's share

The effects of bitcoin in the economy is that it gives people a source of income who needs money and it also reduces unemployed people in a country because bitcoin can be consider as a job that you are still earning money from it. That's why i hope bitcoin will stay longer so more people will be help by bitcoin.

Yeah, at least so many people are even able to work online and get paid using their skills without having to wait for the government to put food on their table. There are so many opportunities for a lot of company outsourcing works online which is confirmed a lot cheaper and despite the load of workforce globally, so many people are not able to get their hands on any job due to payment restrictions.

I have been there and things have changed now with bitcoin for those who are not lazy, but looking at the global economy though, that is one huge level.

manismanja

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Quote from: Tuyul Gupies on December 11, 2017, 01:03:59 AM

since the bitcoin I see the purchasing power of the community increases, more and more new rich people who appear due to bitcoin, well what I ask is whether its influence on the economy since adany bitcoin until now whose price reaches 1600 $

let's share

the bitcoin effect seems to be making our finances shaken up a bit, as investors flock to the bitcoin investment, with bitcoin hopefully the benefits of all countries can be good. because we can connect anywhere and abroad do not need to exchange local money.

henmark

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Quote from: intoy_victor on December 11, 2017, 03:29:48 AM

It has big effect in the world economy, especially in the poorer countries that they have to work to overseas to earn money so they could help their family, but if they know how to work here in bitcoin they dont need to go other country to earn money and to buy there demands in life. For instance if they earn here in bitcoin and they are continted of there income they dont have to go far country just only to earn money. Even if you are in your home you could work here.

However if more people are working here in bitcoin in the future there are many people will be rich to. And they could help their country to increase there economic.

Bitcoin is effecting the US dollar in all over the world people are investing there money more and more in bit coin to make a good profit. People start withdrawing their money from forex exchange and start investing in bit coin it brings a positive change in all over the trading markets in the world.

Bitcoin is much better as compare to forex exchange. In my opinion. Bitcoin is far better than dollar because of its decentralized nature.

Younggiant2018

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Quote from: Tuyul Gupies on December 11, 2017, 01:03:59 AM

since the bitcoin I see the purchasing power of the community increases, more and more new rich people who appear due to bitcoin, well what I ask is whether its influence on the economy since adany bitcoin until now whose price reaches 1600 $

let's share

The abrupt surge of bitcoin does affect the economy in the country as this attracts the huge number of small investors to buy shares and earn in bitcoin. The SEC already recognises some of the cryptocurrencies that are currently in the system but new cryptocurrencies that are coming in to play with the waves of the bitcoin value which the SEC warns the people to be vigilant of the potential scam.

Vannie12

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As long as cryptocurrencies are not taxed and regulated by the government, there is not much of an effect to any country's economy.
Not unless cryptocurrencies are accepted by banks and the only way to use them is by converting it to fiat. Fees are real and expensive. There are no stores accepting at the moment here and I think exchanging bitcoins to fiat may affect the economy.

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