Topic: What would be the possible impact of BTC in the economy of a country? - page 12. (Read 4310 times)
October 24, 2017, 06:10:33 PM
The generall impact would be quite well in my opinion. The bigger problem would be with crimes and mainly law. Because of BTC decentralization and anonymity it would be very hard to punish any bad guy with the financial fee. The same situation with divorce. In all that sad situations you have your money but very well hidden, so the goverment won't find them. So we would have a lot of small problems which would be not easy to solve.
October 24, 2017, 04:43:05 PM
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.
The only possible impact of BTC in an economy of a country is just giving extra money to tax to since they tax people who will declare that they are self employed and most of the time those who go full time with bitcoin declares that they are self employed. Bitcoin might also open a way for those jobless ones that have access to computer to have a source of income in the internet. Besides it, i dont think bitcoin can ever help greatly on improving an economy. October 24, 2017, 03:36:15 PM
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.
October 23, 2017, 01:41:50 PM
If money laundering is concerned, it can affect the bad direction. When used in other commercial areas, it will surely be worth it.
October 23, 2017, 12:10:26 PM
there is no assurance to what could it really be the bad impact about bitcoin in the economy, but it quiet obvious to what will be tye biggest positive impact on bitcoin to economy, the only thing that matters is that there is not much guranteed if it will really happen or what, just depend on the situation i might say.
I disagree with you. Bitcoin weakens any economy. For example the fact that bitcoin deflates the economy, the money can not be useful. All businesses evolve at the expense of loans. Where banks take the Fiat if you hold bitcoins is much more profitable than to keep a Deposit in a Bank? To take out a loan in bitcoins is the ruin for any business. 
October 23, 2017, 11:43:05 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.
October 23, 2017, 11:33:01 AM
I have agree with idea from my friend is there have been implications that Bitcoins can be used to secretly launder money outside the country. Central banks across the world have been wary of Bitcoins as an uncontrollable and unpredictable form of currency. Cryptocurrencies are leading to loopholes in the current bank’s data about the money transactions leading to inability to track economic activities. Crypto and Cyberspace has emerged as a power in itself thus bringing a check on the activities of the so powerful governments.
Yes you are right, bitcoin can be used to secretly launder money and I trully believe is already used to that. But if we think, fiat money is used to the same thing and we are ok with that, that is why I say that there is a great hypocrisy of the people who defend the fiat money and ridicule the bitcoin for trying to say that bitcoin is going to be used to do evil and this and that when it is our own money fiat which has already been used for centuries to do the same damn thing. People can cashout their fiat money in every corner in the streets and nobody will ever know for what it will be used (to buy drugs, buy guns, terrorism, etc.). This argument lacks the truth and can not be used in a ridiculous attempt to minimize the use of bitcoin. October 23, 2017, 10:15:39 AM
there is no assurance to what could it really be the bad impact about bitcoin in the economy, but it quiet obvious to what will be tye biggest positive impact on bitcoin to economy, the only thing that matters is that there is not much guranteed if it will really happen or what, just depend on the situation i might say.
October 23, 2017, 10:13:05 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.
The advent of Bitcoin and crypto currency in general has made so many people who invested in it earlier before now, and that has given them a purchasing power to take care of their financial responsiblities. Since the purchasing power lead to high demand for different products within the economy which will invirably lead to high supply of the product demanded and increase in the gross domestic products in the economy. October 23, 2017, 10:08:19 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.
For my own opinion that the currency of bitcoin at reflected in the economy of each country so that as we can see the convertion of bitcoin from your country money was changing every minutes or what we called fluctuations it because of the economy at numbers of investor if we dont have investor the currency was decreasing so it means bitcoin currency was depending tje economy of our country.
October 23, 2017, 09:50:28 AM
In a first moment I think bitcoin can change the economy of a country like USD did. There are a lot of countries which have changed their national fiat currency to USD money because of its solidity like Bahamas, Equador, Jamaica, New Zealand... So there's a country using massive quantities of bitcoin that is Philippines and I wouldnt be surprised if I saw them officialy become Bitcoin as an oficial currency of their country and that would be a milestone for the financial market of cryptocurrencies. There are families there selling their whole patrimony for bitcoin and their Central Banks have already said lots of positive and good thing about bitcoin and even have published regulations for its use earlier this year. The deputy director of Phillippines has said "It’s like any other monetary instrument [and even] an investment instrument. There are risks but essentially, it can be managed. If you want something that is fast, near real-time and convenient then there’s the benefit of using virtual currencies like bitcoin." So you can imagine what is the impact of BTC in economy of a country.
October 23, 2017, 08:59:41 AM
Why people believe that bitcoin is anonymous. This is not so. All bitcoin transactions are easily traceable. To detect human not difficult to find all of his transactions, and at least one operation on the exchange of bitcoin for Fiat. Until it will be possible not to use Fiat, we are all on the mind of the government. Talk about what bitcoin helps money laundering is only the government's attempt to create a negative image of cryptocurrency.
October 23, 2017, 08:47:08 AM
I have agree with idea from my friend is there have been implications that Bitcoins can be used to secretly launder money outside the country. Central banks across the world have been wary of Bitcoins as an uncontrollable and unpredictable form of currency. Cryptocurrencies are leading to loopholes in the current bank’s data about the money transactions leading to inability to track economic activities. Crypto and Cyberspace has emerged as a power in itself thus bringing a check on the activities of the so powerful governments.
October 23, 2017, 08:38:17 AM
It have not only good impact but also bad impact also. If it happens, the illiterate people will suffer more. People can't use it without internet connection. On the other hand the good impact is it is secure and fast transaction. Besides it, unemployment rate will be decreasing.
October 23, 2017, 07:47:52 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.
October 22, 2017, 05:39:29 PM
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.
The impact of Bitcoin on a country depends on the country in question. For example, in a country with high inflation like Venezuela, the local fiat currency loses value as soon as you receive it and it keeps losing value. Citizens of that country could convert their government currency to fiat to not only hold value, but actually gain value.
Another problem in some African countries is that banks actually charge customers to hold their money. If citizens put their money in Bitcoin, they would avoid bank fees when storing their money.
October 22, 2017, 05:33:02 PM
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.
The impact of Bitcoin on a country depends on the country in question. For example, in a country with high inflation like Venezuela, the local fiat currency loses value as soon as you receive it and it keeps losing value. Citizens of that country could convert their government currency to fiat to not only hold value, but actually gain value.
Another problem in some African countries is that banks actually charge customers to hold their money. If citizens put their money in Bitcoin, they would avoid bank fees when storing their money.
October 22, 2017, 05:28:20 PM
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.
Its so huge impact of btc in terms of progress of economy in our country we remember young people now fresh graduate jobless but because of bitcoin they can support there daily needs they become entrepreneurs in their young age,so the economy affected unemployment will going down the crimes rates will down,the economy will bloom.the bad impact of btc is not regulated in government no tax collection.but maybe soon the government legalized the crypto currency.
October 22, 2017, 04:39:48 PM
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.
The impact of Bitcoin on a country depends on the country in question. For example, in a country with high inflation like Venezuela, the local fiat currency loses value as soon as you receive it and it keeps losing value. Citizens of that country could convert their government currency to fiat to not only hold value, but actually gain value.
Another problem in some African countries is that banks actually charge customers to hold their money. If citizens put their money in Bitcoin, they would avoid bank fees when storing their money.
October 22, 2017, 04:17:17 PM
The impact of BTC in the economy of a country would be something of stability and longevity. People and markets could turn to it as a safe haven of storing value.
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