Topic: What would be the possible impact of BTC in the economy of a country? - page 11. (Read 4286 times)
October 25, 2017, 07:25:18 AM
I can say what will be the impact of bitcoin on our country's economy. Transactions can speed up such as paying bills, transferring money and shopping, etc. in addition there will be reduced unemployed to a country because you do not need the requirements and investment just to earn it. It's simple just what you need here. Your internet should be strong you have the determination, diligence and assurance here in the forum besides paying for that you have learned a lot.
October 25, 2017, 07:07:30 AM
Since there will be a lot of people scrambling to get their hands on bitcoins and if that happens since the supply is only limited to 21 Million bitcoins as per the creator of bitcoin stated that means the supply wont be able to fill up the demands of more people making it harder to earn and get bitcoin. Well there are several alt coins that people can also use but since every alt coins also depends on bitcoins price they will also be affected what ever happens to bitcoin.
October 25, 2017, 06:49:07 AM
Just wanted to know people ideas on what is the good and baf impact of BTC in the economy of a country. I am glad to hear different people views regarding this matters and get some ideas from the tenured people around these forum.
Actually in our country, government doesn't add any tax when we are exchanging the value of bitcoin in our local money. But not just because they not adding a tax to our money, means they dont have effect in our economy. Of course it has. It lessen the number Of unemployed in our country. Its makes the life of bitcoin user in our country more stable especially in terms of financial. So it help the country to improves its economy little by little. October 25, 2017, 06:39:00 AM
I don't agree with your arguments. In the IT field, there are no problems with employment even without bitcoin. Competent programmers can always work remotely and get paid for it in countries with high wages. the problem was for those who do not have competitive specialty. They are forced to work only in their own country and earn income at the level of survival. For such people, bitcoin is a way out.
October 25, 2017, 05:20:47 AM
I agree that due to Bitcoin unemployment would go down, people would start earning money many people think that the economic condition of the citizens would get better correct agree, but when people will only use Bitcoin and not their national currency wouldn't that affect the economy of the nation, the government would not collect the same amount of taxes as before in short the economy of the country could go down. That is what I think..
The fact that people don't have jobs has not much to do with BTC being in the economy or not. Just think about it for a moment. What are the reasons people can't find jobs? Usually the main reason is that economy is shit. If there are no companies willing to hire welders, if you add BTC to the mix new companies in need of those welders won't suddenly start to pop up. For them to appear there have to be contracts from governments/companies that are willing to buy their products and there have to be investors willing to put their money into the projects.
I have to disagree with you on this. New innovation bring new job opportunities. People develop new applications linked to global Bitcoin payment options and these new jobs generate income for unemployed workers. People can now do micro tasks for micro payments. < The signature campaigns on this forum is a good example, where people get paid a few dollars for posting on this forum >
Before Bitcoin people used expensive remittance companies to transfer money from one country to the next, charging high fees for this service. Bitcoin has made micro transactions possible for very low fees under the right circumstances. < When the network are not being spammed >
Even faucets can contribute as a income generation for people in third world countries. < I have read about people who bought food with the faucet income a few years ago >
October 25, 2017, 05:12:55 AM
Ofcourse it will make an economy healthy but it depends on how a government will adapt bitcoin. As I see now, those democratic government implements bitcoin with minimal requirements needed to their investors while those authoritarian form of government is having a hard time fixing the regulations and rules to be implemented. To summarized, bitcoin is simply a technology and it depends on how people and government use it will determine its effect to the economy.
Governments do not want to change anything. They think that everything should remain as it is. Their main task is to control the income of citizens with the aim of subjecting them to yourself. Bitcoin makes people independent of the government. They can earn income outside the state. Independent people are difficult to control. This is the main reason why government against bitcoin. But in fairness I will say that the bitcoin will not help the economy. 
October 25, 2017, 04:55:04 AM
Ofcourse it will make an economy healthy but it depends on how a government will adapt bitcoin. As I see now, those democratic government implements bitcoin with minimal requirements needed to their investors while those authoritarian form of government is having a hard time fixing the regulations and rules to be implemented. To summarized, bitcoin is simply a technology and it depends on how people and government use it will determine its effect to the economy.
October 25, 2017, 04:54:41 AM
Bitcoin Used my Anonymous Users So that can’t be controlled by country
Effect only for people So it will up some families from poor
Effect only for people So it will up some families from poor
October 25, 2017, 04:49:06 AM
The impact of bitcoin in country's economy will not matter if people who uses bitcoin of a particular country is not that much bigger in numbers there will only be an impact if full adaptation of bitcoin will be implemented in a country in this scenario if the economic status of their people change and improve for sure this will help their economy to become stable.
October 25, 2017, 04:06:20 AM
Bitcoin helps people to gain more money, both the unemployed, low wage people, and actually everyone. Bitcoin, when converted to cash, can increase the amount of money circulating in a country. This is a good thing which thus can boost the economy of a country. On the other hand, if all people and all merchants will move into using bitcoin, then paper money would be useless. It means loss from the production cost of the paper money.
October 25, 2017, 03:43:13 AM
It's a combination of both good and bad impact. Good in a sense that more people in a country that supports btc can have access to opportunities of having good profits. Especially that in times like this, a single job can't fully support a family that's why more of us need additional jobs. Btc also have the potential to address unemployment of a country. But the bad side of it is giving criminals a freeway to have their transaction effectively. Illegal transactions have been rampant and btc technology helped them to cover up their crimes.
October 25, 2017, 03:36:45 AM
I think impact of BTC in the economy of country is unemployment go down. Many people work in here and little people work in office. They choose work in here because he can spent time with family in their home during activity and I think work in crypto give more than profit than people work in office 
Its possible impact especially to those none employment they can use bitcoin as they work like here in forum i know many people here have no work. Now many unemployment that get a huge income here. October 25, 2017, 03:32:27 AM
Bitcoin helps people especially those who are unemployed like housewife who wants to have additional income and because of bitcoin they can earn and become financially stable which in return helps the ecomic growth of their country if people economic status improve then the economic status of a country also improves.
October 25, 2017, 03:19:46 AM
I think impact of BTC in the economy of country is unemployment go down. Many people work in here and little people work in office. They choose work in here because he can spent time with family in their home during activity and I think work in crypto give more than profit than people work in office
Its possible impact especially to those none employment they can use bitcoin as they work like here in forum i know many people here have no work. Now many unemployment that get a huge income here. October 25, 2017, 03:19:20 AM
We cannot expect much impact may be possible by bitcoin in the economy of a country. Bitcoin user and bitcoin usage is very less percentage in the world so it is not possible to make any impact in the country economy at anystage.
But in near future if Bitcoin increased its stake then there will be some reflection and reaction happen that we can expect.
But in near future if Bitcoin increased its stake then there will be some reflection and reaction happen that we can expect.
October 25, 2017, 03:12:14 AM
I think bitcoin have few impacts in the economy such as new currency (though not yet accepted but already useful), financial stability and employment. Among these, i think the the factor with the most impact is increase in employment. Based on observation, most people who tend to just stay and play in the internet had been able to work in bitcoin. Even those who just tend to stay at home, had been able to work thru bitcoin.
October 25, 2017, 02:47:27 AM
Just wanted to know people ideas on what is the good and bad impact of BTC in the economy of a country. I am glad to hear different people views regarding this matters and get some ideas from the tenured people around these forum.
It is all my observation and opinion. So please do respect it.
Good to economy:
+ individual financial independence
+ less unemployed better for the country
+ faster transaction means more transactions a day, money flow
+ monopoly will be lessen
Bad to economy:
- no taxation/ on some country
- banking investors will not invest bigger capital
- central banks will have doubts on our financial capability as they don’t support bitcoin
For now this all I know that might have impacted at present time and it is not the ONLY factors but many more.
October 25, 2017, 02:17:21 AM
Just wanted to know people ideas on what is the good and baf impact of BTC in the economy of a country. I am glad to hear different people views regarding this matters and get some ideas from the tenured people around these forum.
in my opinion, the impact of bitcoin for a country.probably the first if for people who follow the development of bitcoin will have a positive impact such as having more profit than bitcoin. but if for the government it may be slightly detrimental in terms of taxes. because to my knowledge, the exchange of bitcoin does not use government taxes.
Secondly, they don’t pay taxes when they do transactions of bitcoins, so in that way yes there is no better impact. But it is, in the first case.
October 24, 2017, 08:10:10 PM
I think impact of BTC in the economy of country is unemployment go down. Many people work in here and little people work in office. They choose work in here because he can spent time with family in their home during activity and I think work in crypto give more than profit than people work in office
Its possible impact especially to those none employment they can use bitcoin as they work like here in forum i know many people here have no work. Now many unemployment that get a huge income here. 
October 24, 2017, 07:15:01 PM
The impact would be great for the economy of a country. Reasons are it could provide the need of someone who is jobless its needs and in some cases its want too, students who are in danger of dealing with loan sharks decreases and they could have money needed for their study without thinking of they should repay it afterwards, parents who are a house person that their job is to keep the house while their partner is working could earn money while doing so and in some cases they could have earn more than their partner who has a job. this factors affects economy by decreasing the number of individuals, family and a community who is poor.
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