Will bitcoin effect the current economy system?

Bitfling

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Quote from: sandarajasmine on January 24, 2018, 12:32:20 PM

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

If bitcoin have regulation, I am believe bitcoin can give bigger effect on economy. Right now, bitcoin doesnt have any regulation and many country ban bitcoin for payment and that make bitcoin can not give effect on real economy activity. But as investment, bitcoin can give government tax from bitcoin trade

clarky

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Bitcoin can impacts one economic system specifically when they supported by using technology. Many humans are now the use of bitcoin and by using this they can without problems get some profit to use for their each day wants but the authorities have to aid its people, creates gadget to in the end train people with the proper facts and by using this the economy of a u . s . will boom for sure. As human beings do have earning a massive impact to the economic system due to the fact they can now purchase all the commodities they need in their day by day lives, poverty lessen and unemployed people are given a risk to make cash by using doing bitcoin.

Thian778

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Using a cashless method wont affect the economy of a country, only around 3% maybe since it does affect on;y the mode of payment, but when we say Bitcoin in society has a greater impact on a country's economy, why and how? Since people earn from BTC, cash out some and purchase it on a store, it creates indirect effect on someones income when you use your money from BTC if you cant use BTC itself to buy a sack of rice just for example, when you buy rice you help the store to have gain that day and during that day you pay tax that was impose to that rice and it will go to government fund, same cycle may happen in different cases but the main point is that BTC has impact on our scoiety whether some people denied it.

markint

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Quote from: sandarajasmine on January 24, 2018, 12:32:20 PM

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

I do not think that cryptocurrencies have too much specific weight in the world economy at this time to generate a significant change in current financial policies. However, it is beginning to attract the attention of the world's financial institutions, so the possibility of flexible regulation in this field would be the first step towards greater adoption and influence of bitcoin in the economy, although the great technological gap between rich and poor also seems an important impediment to the massive expansion of bitcoin.

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Quote from: sandarajasmine on January 24, 2018, 12:32:20 PM

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Yes it is, and actually Bitcoin was being accepted in different entities in which people were always be involve like market, stores and even banks as they say, and I think the capability of the Bitcoin really applied nowadays for it to be really successful, since people nowadays were being aware what is Bitcoin thats why investors acquire this currency to keep profiting.

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We can say that it is already affecting it, goverments of all countries are already concerned of it's phenomena.

djselery

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Bitcoin can affect positively the economy of some countries, because it is already helping so many unemployed and jobless people and as a result it is reducing the poverty in this countries and improving the economy. There are actually thousands of people working full time with Bitcoin in many ways, by trading and holding, and doing jobs for BTC..

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Quote from: sandarajasmine on January 24, 2018, 12:32:20 PM

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Yes it does, most of the countries economy today are relying to the banks and people are more interested on cryptocurrency more than placing their money on banks and that is the reason why cryptocurrency is banned on other countries.

Roboabhishek

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Quote from: Majharul Saiif on April 24, 2018, 03:21:22 PM

There are many affects of Bitcoin in the different perspective of countries.It generally based on states actors.By the way,I think that the all affects are positive which are related to the economy.I also think that those are positive for a country and it is needed for a country and also blessing for people.For this,many country is developing in the sections of industrialization and technical issues.

If you ask me then I would say yes it is affecting the current economic system and government is trying to get rid of bitcoin and blockchain tech.
Obviously, they don't want a decentralized platform where don't have control of the money and hard to collect the tax. Imagine if everything goes decentralized.

Majharul Saiif

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There are many affects of Bitcoin in the different perspective of countries.It generally based on states actors.By the way,I think that the all affects are positive which are related to the economy.I also think that those are positive for a country and it is needed for a country and also blessing for people.For this,many country is developing in the sections of industrialization and technical issues.

newbie-hero

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Quote from: Memminger on April 05, 2018, 07:31:51 AM

Quote from: sandarajasmine on January 24, 2018, 12:32:20 PM

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

It will and that's gonna be a huge change. Since bitcoin became popular the changes occurred in so many ways. Not only economic but also with the state & government exchange. Since the technology is helping a lot with the progress and success of bitcoin, it is rising in the most positive way people would want it to be and I think it's pretty nice.

It will surely affect the countries' economy. many governments have already understood that there is no need to ban Bitcoin. The best way for them is to tax BTC. Thus, they are going to improve their economy doing it.

ahmad21

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It is already affecting every country’s economy. Especially the technology on which Bitcoin is working known as blockchain technology, is affecting every economic sector. It is evident from the point that China has banned Bitcoin as it was affecting its economy and governance. Now India too has come up with a step to ban banks from getting involved in transactions related to btc which clearly means they thought of a negative impact on their system too. Evasion of taxes and money laundering are just a few demerits that btc could pose on the current economic system.

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Quote from: Harrisonimo on April 05, 2018, 04:42:28 PM

Quote from: sandarajasmine on January 24, 2018, 12:32:20 PM

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Yes, it is quite possible for Bitcoin to affect the economy of a country.. If and when money from the country is being converted on a high volume into the Cryptocurrency market, it will tell on the economy.

Why not you look at the other side of the picture, the brighter one? If people are converting their money into digital currencies, they are also cashing their virtual currencies out in order to meet their needs. When they are investing 1000 dollars but collecting 2000 dollars is the amount they are getting as a reward for trusting the crypto market. Don’t you think this way they are going to make country strong.

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Quote from: spartak-sbk on April 05, 2018, 07:28:14 AM

I think you had in mind the very technology Blockade on which bitcoin is based. Since bitcoin is only a store of value that can increase depending on the speculation in the market. The technology itself blockchain, in full can affect the economy.

Ultimately yes, it will affect the economy of country. How? Simple and easy reason here. For better understanding, just make a chain. Just think, if a person uses this blockhead technology, means crypto currencies, they will be making money. With this money, they will be managing the whole life scenario. Ultimately the society gets an impressive positive impact, hence economy of the country will be healthier.

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Quote from: Harrisonimo on April 05, 2018, 04:42:28 PM

Quote from: sandarajasmine on January 24, 2018, 12:32:20 PM

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Yes, it is quite possible for Bitcoin to affect the economy of a country.. If and when money from the country is being converted on a high volume into the Cryptocurrency market, it will tell on the economy.

yes it certainly affects bitcoin in a country like japan. because Japan is already allowing if the virtual currency is used as a legitimate currency and has been in daily use by the community. so the bitcoin affects the economy of a country

Blue Bell

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Quote from: darel on April 05, 2018, 08:23:53 AM

Quote from: sandarajasmine on January 24, 2018, 12:32:20 PM

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Of course yes, because so many make bitcoin as the main job to fulfill the necessities of life for example, who usually do not have a job, thanks to bitcoin they have income and this is also my opinion helping improving the economy of a country.

Right bitcoin is reducing the poverty and the unemployment form our community, so bitcoin is really making things better now, for me bitcoin is the best currency which will never get any harm for the loss of user, bitcoin is solving a lot of problem and bitcoin is giving us the reward as well, as should invest in bitcoin and hold our bitcoin we can earn high amount of money which is the best step taken by the investors who use to invest on right time, bitcoin is an amazing currency which is full of benefits only for all people who have no other source of income.

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Quote from: sandarajasmine on January 24, 2018, 12:32:20 PM

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Bitcoin and Altcoin have started to affect the economy in some countries, such as Japan and the Emirate Arab from some of the media I hear,
the younger generation as the successors of the countries that have already benefited from Bitcoin will definitely continue to strive for Bitcoin, and will definitely change the economic system in the future...

Harrisonimo

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Quote from: sandarajasmine on January 24, 2018, 12:32:20 PM

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Yes, it is quite possible for Bitcoin to affect the economy of a country.. If and when money from the country is being converted on a high volume into the Cryptocurrency market, it will tell on the economy.

Harrisonimo

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Quote from: sandarajasmine on January 24, 2018, 12:32:20 PM

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Yes, it is quite possible for Bitcoin to affect the economy of a country.. If and when money from the country is being converted on a high volume into the Cryptocurrency market, it will tell on the economy.

MMA

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Quote from: yunzau on April 05, 2018, 09:24:10 AM

Yes it will affect the balance of the financial system. And have risks such as volatility, arbitrage that will create bubble burst.

Yes that is right that bitcoin has the ability to effect the financial and economic system of the world but i think not so soon, because bitcoin is still in its very early stage and still majority of people do not use bitcoin, therefore i do not think that bitcoin will currently bring such a big chance in the economic system of the world, but as the bitcoin users are continuously increasing therefore we are expecting that bitcoin will surely bring a big change in the economic system of the world.

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