Topic: what is the effect of bitcoin (Read 486 times)

No doubt the bitcoin becomes the fever that sweeps the world with its soaring price from the beginning of its existence. The more enthusiasm for bitcoin the more demand for bitcoin with its limited availability allows higher bitcoin prices. The effect is bitcoin could be a good investment alternative.

Bitcoin is more volatile (Bitcoin values ​​can rise and fall in a short space or time) than other currencies, and although Bitcoin's value is now more stable, Bitcoin is bound to experience many volatile moments in the future.

BTC will most likely result to less population of unemployment.  But because of it's fame, the economy will go down low because the blockchain technology will break them. It helps an individual grow financially, so there is actually 50-50 chance of winning and losing.

It engages unemployed youth

Bitcoin is changing the world. Economics will be ruined couse of blockchain technology

It Bitcoin becomes mainstream right now it will crash due to its insfufficient scalability. So perhaph some more scalable crypto currency would end up taking its place.

Bitcoin helps the economy to grow because it reduces the unemployment rate of the country.

bitcoin helps many people who has no chance to go to school to get a degree .find a good job and big salary.. with bitcoin you can earn a lot of money if you know to trade well.

I think it's going to be the same as how the internet works for us now. During its early stages, the internet also had its own challenges, mostly from people who don't understand it. Once bitcoin is understood by everyone, we'll all benefit from it being used everywhere

Financial risk

Another risk associated with Bitcoin is the value of this very famous currency itself is very volatile. In early January 2013, for example, Bitcoin is priced at 13 US dollars per chip (1 BTC). That number rocketed to more than 1,100 dollars a chip in December of the same year, then trimmed to only half (about 500 US dollars), just hours after the ban on Bitcoin transactions in China.

This makes the value of Bitcoin owned to be unstable and become a problem for business people who use the virtual currency. The price of goods and the value of money paid can rise or fall sharply in a very short time so that potentially harm one of the parties involved in buying and selling.

Tiyo Triyanto from IBC said that one way to cope with price fluctuations is to use a Bitcoin financial service provider such as Artabit. "Purchasers, for example, pay the price of goods that have been determined in the form of Bitcoin to Artabit, the rest is handled by them so that the risk is not in the hands of the user."

Assuming no excessive fluctuations occur, Bitcoin offers its own advantages for businesses that market their products online because there is virtually no transaction fees for buyers and sellers. Likewise for the purposes of money transfers made easy and cheap compared to conventional currency.

Like any currency or commodity, hoarding or hoarding behavior also occurs with Bitcoin. In India and China, for example, the largest number of Bitcoin demand is derived from profitable speculators. There is no possibility that the price of Bitcoin can crash if a large number of virtual coins are removed at a time, especially with the current condition of Bitcoin which many called being bubble.

Bitcoin's effect to the user is it helps the user to earn money even without job. It helo us to cover our needs in terms of finacial. Bitcoi. Is a big help specially to those who cannot find a permanent job. Or to those who has partime jobs so they can have an extra income.

A new way to keep your funds valuable, i think.

Effect can be positive or negative, positively it will improve a micro economy if people in the society are owning bitcoin in this price booming era but if they decides to keep it forever and not circulate after the bank has be mined/ exhausted then there will be some form of laundering and it wouldnt be good. Bitcoin is simply more asset flow in the system and it will force the hands of the Swiss to match, Own some and you are improving the life of money. Hit my inbox for more explanation if you understand not something

I suppose that in this case most people will become more intelligent (I mean smart) than they are now.

There will be major changes in Our society, specially whenit comes to Banking, all banks will become decentralized amd will use BTCs as a basis of currency. New ideas and corporations will be created, many jobs related to Online Marketing will be available to many people. Bitcoin can change how the World works, new ideas of companies Online can be applied globally without all the hassle. Bitcoin can make Our world a better place.

I do think that Bitcoin will ruin the poverty and inflation in many countries.

The effect of bitcoin to society it raises economist condition and improved its quality... The country provide many job opportunity to people and help them gain a better life.

.    Bitcoin may Help people WHO are unemplyed and an extra income for those WHO are emplyed

Many people will finally be able to benefit from bitcoin.  It will open a lot of opportunities for bitcoin user and even people who do not know anything about bitcoin.  And the best of all, bitcoin will be accepted to many establishments and will make its way to be the alternative or another currency to pay for other services online.

its effect good this bitcoin in society its helpful to poverty the more you invest the more you save