whether bitcoin influence on the world economy? - page 6.

pitham1

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Quote from: Idrisu on January 13, 2017, 03:25:09 AM

Quote from: DaddyMonsi on January 12, 2017, 09:08:11 PM

Quote from: CROYA86 on January 12, 2017, 11:57:11 AM

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?

No effect at all. Bitcoin is not yet recognized in most countries although they or some knew the existence of Bitcoin but accepting Bitcoin as a crypto currency is not yet accomplished. That being said, regardless of the current BTC price against the Dollar, BTC still have no significant effect in the world economy. Maybe not until Bitcoin reached the status that it is widely accepted all over the world.

A crypto currencies that has market capitalization above 16,000,000,000usd has it own effect on the Economics of many nations especially the third world countries. South African and some Asian countries are used bitcoin as a mode of transactions daily. Many people currently are being employed and pay in crypto currencies. Exchange rate to dollar in some country has improved including usa. This are sign that very soon bitcoin will be legalized in most third world countries and with will terminate inequality in their systems.

$16 Bn is a pittance. Oracle has a market capitalization of $160+Bn, which is 10 times that of Bitcoin. Do you think Oracle has an impact on the South African economy? Price, by itself, is irrelevant.

deisik

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Quote from: Idrisu on January 13, 2017, 03:25:09 AM

Quote from: DaddyMonsi on January 12, 2017, 09:08:11 PM

Quote from: CROYA86 on January 12, 2017, 11:57:11 AM

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?

No effect at all. Bitcoin is not yet recognized in most countries although they or some knew the existence of Bitcoin but accepting Bitcoin as a crypto currency is not yet accomplished. That being said, regardless of the current BTC price against the Dollar, BTC still have no significant effect in the world economy. Maybe not until Bitcoin reached the status that it is widely accepted all over the world.

A crypto currencies that has market capitalization above 16,000,000,000usd has it own effect on the Economics of many nations especially the third world countries. South African and some Asian countries are used bitcoin as a mode of transactions daily. Many people currently are being employed and pay in crypto currencies. Exchange rate to dollar in some country has improved including usa. This are sign that very soon bitcoin will be legalized in most third world countries and with will terminate inequality in their systems.

So-called market capitalization of 16B dollars says nothing by itself

If most of the coins that make up this value are stashed away, they are basically out of equation completely. It is the coins that are actively traded and yet more the coins that are actually used in the real economy as a means of payment that matter in the end. So it is obviously not the price alone but rather the quantity of coins actively participating in the economic turnover multiplied by the price (real market cap) that could potentially impact the world economy. But this impact has been negligible so far

maku

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We are not at this level yet. Bitcoin is too small to have any kind of impact on global economy. Bitcoin in current state can be called experimental sidetrack of official economy.
And for most people it is a road to nowhere as they expect that authorities will tone bitcoin down by imposing heavy restrictions i.e. forcing people to abandon concept of decentralized cryptocurrency.

Also, most fiat payment processor companies have market cap at least 10x higher that bitcoin ever reached - last time I checked PayPal market cap was around $150 billion.

traderethereum

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Quote from: CROYA86 on January 12, 2017, 11:57:11 AM

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?

maybe bitcoin prices can make affect with the world economy if many country is using bitcoin and approved for people to using bitcoin and if there is much of product is selling in offline store and online store. like when bitcoin prices reach $1100, many newspaper in online or offline makes an article that said another investment is born and people can make the investment with bitcoin and etc.

i think the price of basic commodities is different with bitcoin prices and only depend with supply and demand from the country and if the demand is too high depend the supply then i am sure that the price will be increase. but bitcoin is depend from the bitcoin user in all of the world, people with much of bitcoin easily play in the market and make dump and pump in the price.

talkbitcoin

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Quote from: CROYA86 on January 12, 2017, 11:57:11 AM

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?

well no and the reason is too simple. bitcoin is too small to have any influence on world economy. you can check out other commodity markets (not that i agree calling bitcoin commodity) and look at the volume they have and the prices or the market cap.
then you realize bitcoin is too small in this world.
maybe in the future though, when it becomes bigger and more adopted.

Xester

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Bitcoins price will not affect the price of good and commodities. For example a box of potato costs 10$ then even if the price of bitcoin increases or decreases the price of potato will still be at 10$ and so if you pay in bitcoin you will pay 10$ worth of bitcoin. So its a simple logic bitcoins price cannot affect the price of commodities except for alternative coins in the cryptocurrency economy.

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Quote from: CROYA86 on January 12, 2017, 11:57:11 AM

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?

Nope i don't think so. Not yet anyways. It's not yet in the same level as that of gold or oil or other necessities and i think it's still going to take quite some time before it does if it even does. Though it may if the prive of bitcoin really surges up but i think that would be very minimal and neglectable at best

Idrisu

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Quote from: DaddyMonsi on January 12, 2017, 09:08:11 PM

Quote from: CROYA86 on January 12, 2017, 11:57:11 AM

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?

No effect at all. Bitcoin is not yet recognized in most countries although they or some knew the existence of Bitcoin but accepting Bitcoin as a crypto currency is not yet accomplished. That being said, regardless of the current BTC price against the Dollar, BTC still have no significant effect in the world economy. Maybe not until Bitcoin reached the status that it is widely accepted all over the world.

A crypto currencies that has market capitalization above 16,000,000,000usd has it own effect on the Economics of many nations especially the third world countries. South African and some Asian countries are used bitcoin as a mode of transactions daily. Many people currently are being employed and pay in crypto currencies. Exchange rate to dollar in some country has improved including usa. This are sign that very soon bitcoin will be legalized in most third world countries and with will terminate inequality in their systems.

DaddyMonsi

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Quote from: CROYA86 on January 12, 2017, 11:57:11 AM

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?

No effect at all. Bitcoin is not yet recognized in most countries although they or some knew the existence of Bitcoin but accepting Bitcoin as a crypto currency is not yet accomplished. That being said, regardless of the current BTC price against the Dollar, BTC still have no significant effect in the world economy. Maybe not until Bitcoin reached the status that it is widely accepted all over the world.

GreenBits

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Quote from: CROYA86 on January 12, 2017, 11:57:11 AM

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.

machinek20

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I dont think bitcoin is influence the world economics, the user of bitcoin is too little and most of the people still dont know what is bitcoin, and i dont think bitcoin can affect the world economic, bitcoin is just a sub currency

topesis

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Bitcoin price has no influence on the world economy presently, there is no state with keen interest or whose economy is directly tied to Bitcoin price. Even if you look at the numbers of people holding bitcoin I doubt is upto 2 million out of more than 6 billion people in the world

mOgliE

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Quote from: CROYA86 on January 12, 2017, 11:57:11 AM

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?

What? No, not at all!
We got barely a few millions of OCCASIONAL bitcoin users! Whatever happens to bitcoin it can't influence the world on a global scale!
Especially not on basic commodities man, do you ever buy your food with bitcoin?

stevano

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Quote from: CROYA86 on January 12, 2017, 11:57:11 AM

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?

the possibility of no effect because bitcoin is not ad continued government regulation also has not formally recognize adnya bitcoin as a means of payment, so the price fluctuations do not affect the bitcoin economy

CROYA86

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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?

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