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Topic: whether bitcoin influence on the world economy? (Read 3994 times)

legendary
Activity: 3486
Merit: 1280
English ⬄ Russian Translation Services
February 18, 2017, 09:02:30 AM
until now the state has not recognized bitcoin bitcoin as a currency then there will be no effect on the economic situation of the country, but when it was recognized as the official currency of the bitcoin will be very influential on the country

Which state do you refer to in your post?

There are different attitudes toward Bitcoin across various countries. For example, in some countries Bitcoin is already officially considered as a foreign currency (e.g. in the EU). But even if it is recognized as a currency does it actually change anything? Besides, I think that you are putting the cart before the horse, i.e. in reality things will likely work in the opposite direction. At first, Bitcoin starts affecting the national economy and only then it may get recognized (whatever that might mean including outright prohibition). It is highly unlikely that any government is going to accept Bitcoin before it goes mainstream and gets adopted by a significant part of population
sr. member
Activity: 532
Merit: 250
1st of May
until now the state has not recognized bitcoin bitcoin as a currency then there will be no effect on the economic situation of the country, but when it was recognized as the official currency of the bitcoin will be very influential on the country
prove
hero member
Activity: 1414
Merit: 505
Backed.Finance


possible bitcoin prices affect the world economy?
such as the high price of bitcoin again, if the price of the price of basic commodities will go up?

give your opinion?


I read the commodities market has indirect relationship with the dollar such that if one goes up the other weakens therefore Bitcoin as a commodity prices shoot up then the dollar and the world economy weakens.

Yes, the commodity and bitcoins are coming under same classifications : alternate investments.
They are all alternate to dollar investments. We do keep on discussing bitcoin as an alternate to dollars so when dollars get weakened, bitcoin will find appreciations. Bitcoin is inversely proportional to dollars growth and surely influence world economy.

Indeed, bitcoin is an alternative to dollars and slowly becoming popular. With $16,629,938,004  Billion dollar market capitalization equivalent, it has a significant foot print on our economy. I believe it will continue to grow, if world economy is in turmoil as other are opted to invest in this crypto currency.
hero member
Activity: 840
Merit: 500
Currently it is not started in offline business so it currently do not have much influence on economics but in online business t has a good influence while with the passage of time when more companies will adopt it then it will have some influence on our state economics etc.
but it is providing opportunities to people and specially to those people who are job less and give them opportunities to make money from trading alt coin. therefore i will like to say that bitcoin is effecting the world economy.
full member
Activity: 141
Merit: 100
i think its already expected by everyone we all know how bitcoin works and how its price level is working so we can easily predict that the pricewill be increased more and more on the upcomming years its true that price can drop a little in the middle but its sure that the price will rise even more than this

I am also convinced that the price of Bitcoin will grow. But you still need to be very careful.
The impact on the Bitcoin economy is still not very significant, but in the future will increase.
legendary
Activity: 1274
Merit: 1004
i think its already expected by everyone we all know how bitcoin works and how its price level is working so we can easily predict that the pricewill be increased more and more on the upcomming years its true that price can drop a little in the middle but its sure that the price will rise even more than this
hero member
Activity: 700
Merit: 500

possible bitcoin prices affect the world economy?
such as the high price of bitcoin again, if the price of the price of basic commodities will go up?

give your opinion?


I read the commodities market has indirect relationship with the dollar such that if one goes up the other weakens therefore Bitcoin as a commodity prices shoot up then the dollar and the world economy weakens.
Yes, the commodity and bitcoins are coming under same classifications : alternate investments.
They are all alternate to dollar investments. We do keep on discussing bitcoin as an alternate to dollars so when dollars get weakened, bitcoin will find appreciations. Bitcoin is inversely proportional to dollars growth and surely influence world economy.
sr. member
Activity: 756
Merit: 253

possible bitcoin prices affect the world economy?
such as the high price of bitcoin again, if the price of the price of basic commodities will go up?

give your opinion?


I read the commodities market has indirect relationship with the dollar such that if one goes up the other weakens therefore Bitcoin as a commodity prices shoot up then the dollar and the world economy weakens.
hero member
Activity: 672
Merit: 500
Currently it is not started in offline business in any country of the world but only in some countries in a few shops etc so it currently do not have much influence on our national or international economics but in online business it has a good influence on different aspects of online businesses and economy so with the passage of time when more companies will adopt it then it will have some influence on our state economics etc.
legendary
Activity: 1078
Merit: 1000
Maybe Bitcoin doesn't influence world's economy or production in direct way but the fact that established cryptocurrency with real value is present on the market does have some impact. Banks and other financial institutions are very well aware of this fact and they have started to change their attitude.

Whether they change their attitude or not is debatable. Banks are regulated institutions; their favourite response to change is to run to the regulator crying foul. They may do this if Bitcoin grows too big.
That's what I am afraid of, the growth of bitcoin cannot be stop anymore, the network of people who adopt with bitcoin is getting bigger. In fact, the government are already started to make some actions to regulate the use of bitcoin, some countries ban bitcoin and some wants to take advantage of the people inside, they wants to collect taxes from the people behind the big circulation of bitcoin.

But how they are going to do that? They will never know how much bitcoin that we hold, so by putting some taxes on this will be pointless. They have no rights to check on our address or even take our bitcoin away too. There is a lot of things that we can do to make sure that we are not going to pay some taxes. If they cant control bitcoin, they will ban it for sure. This is what I really scared of
sr. member
Activity: 323
Merit: 250
along bitcoin has not been accepted by the government I think the correlation between the bitcoin economy it would never happen, when there may be very little influence bitcoin prices rise and fall of the state of the economy
hero member
Activity: 2814
Merit: 576
Maybe Bitcoin doesn't influence world's economy or production in direct way but the fact that established cryptocurrency with real value is present on the market does have some impact. Banks and other financial institutions are very well aware of this fact and they have started to change their attitude.

Whether they change their attitude or not is debatable. Banks are regulated institutions; their favourite response to change is to run to the regulator crying foul. They may do this if Bitcoin grows too big.
That's what I am afraid of, the growth of bitcoin cannot be stop anymore, the network of people who adopt with bitcoin is getting bigger. In fact, the government are already started to make some actions to regulate the use of bitcoin, some countries ban bitcoin and some wants to take advantage of the people inside, they wants to collect taxes from the people behind the big circulation of bitcoin.
legendary
Activity: 1246
Merit: 1000
Maybe Bitcoin doesn't influence world's economy or production in direct way but the fact that established cryptocurrency with real value is present on the market does have some impact. Banks and other financial institutions are very well aware of this fact and they have started to change their attitude.

Whether they change their attitude or not is debatable. Banks are regulated institutions; their favourite response to change is to run to the regulator crying foul. They may do this if Bitcoin grows too big.
legendary
Activity: 2912
Merit: 1068
WOLF.BET - Provably Fair Crypto Casino
Maybe Bitcoin doesn't influence world's economy or production in direct way but the fact that established cryptocurrency with real value is present on the market does have some impact. Banks and other financial institutions are very well aware of this fact and they have started to change their attitude.
sr. member
Activity: 252
Merit: 250
Never heard when bitcoin prices riding high, the price on the price suddenly rose, possibly several years to come new bitcoin and no correlation between a country's economy, when prices soar bitcoin
full member
Activity: 293
Merit: 100

possible bitcoin prices affect the world economy?
such as the high price of bitcoin again, if the price of the price of basic commodities will go up?

give your opinion?


this is what I wait, I think now is bitcoin it had not affected the economy in a country, because bitcoin is officially not many other countries that recognize bitcoin as a currency, I'm sure someday it will definitely affect or in other words no correlation between bitcoin with the economy of a country, as is the case with dollar
full member
Activity: 266
Merit: 100
Bitcoin is not at all influencing the bitcoin economy at all .bitcoin is being used by teenage people and it is mode of earning through their signature campaign .some big investors are buying a lot of bitcoins and are not cashing it out at all because they think that bitcoin have too much potential and is expected to be biggest cryptocurrency ever .
legendary
Activity: 3248
Merit: 1130
Leading Crypto Sports Betting & Casino Platform
I dont think so. Those who invest in gold, oil and copper are those who wants something that they can see clearly. The possibility of them turning into bitcoin is really low. They will stick with the legal way for they dont want any problems in the future.  If they do turn into bitcoin I am sure they will not leave their investments in other commodities. It will only affect other commodities if they do surrender it.
hero member
Activity: 2996
Merit: 524
Leading Crypto Sports Betting & Casino Platform

possible bitcoin prices affect the world economy?
such as the high price of bitcoin again, if the price of the price of basic commodities will go up?

give your opinion?

For me it cant affect the world economy even Bitcoin price will go up again because they are some countries and people that they consider Bitcoin is illegal.And Bitcoin is not accepted in famous bank.


why bitcoin is still illegal and what are the reasons bitcpoin not be accepted by large banks, whereas today many bitcoin users are always conduct a transaction, it is true that bitcoin is still not able to affect the world economy. wait a few more years maybe there is a new great influence on ekonomj dunis


In several countries tax evasion is considered a major issue, possibly just because of it bitcoin is not regulated into countries with legal authorization. Sure we can expect a good economics change in respect to time when most countries accept bitcoin.
bitcoin is already regulated in several countries which i conclude as a developed countries such as israel and USA, you can read the news about this matter but considered as digital assets instead of digital currency
and that's right that tax evasion is a major issue amongst many countries,they're struggling fighting those who didn't paid the taxes
hero member
Activity: 2618
Merit: 548
SecureShift.io | Crypto-Exchange

possible bitcoin prices affect the world economy?
such as the high price of bitcoin again, if the price of the price of basic commodities will go up?

give your opinion?

For me it cant affect the world economy even Bitcoin price will go up again because they are some countries and people that they consider Bitcoin is illegal.And Bitcoin is not accepted in famous bank.


why bitcoin is still illegal and what are the reasons bitcpoin not be accepted by large banks, whereas today many bitcoin users are always conduct a transaction, it is true that bitcoin is still not able to affect the world economy. wait a few more years maybe there is a new great influence on ekonomj dunis


In several countries tax evasion is considered a major issue, possibly just because of it bitcoin is not regulated into countries with legal authorization. Sure we can expect a good economics change in respect to time when most countries accept bitcoin.
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