Topic: Will Bitcoin Solve Chinese Banking, Household Debt Woes? - page 2. (Read 260 times)
China’s debt spiraling out of control could not be helped by bitcoin IMO, as they want to continue battling USD for the prime spot on world markets as the global currency. And again, bitcoin is not a savior of currencies and distressed economies. It just so happened that its properties are somewhat aligned or complementing some of the socio-economic problems of the world that’s why some see it as a makeshift solution to their problems.
Bitcoin can help in an eventual crisis, especially in China where there are large Bitcoin investors, however, the crises have multiple causes and once they arise, I do not believe that any cryptocurrency becomes a definitive solution, what I do believe is that A widespread adoption of cryptocurrencies largely prevents a possible financial crisis.
In my opinion, it is directly impossible for bitcoin to solve household debt and banking bailouts, because the root of the problem lies with
China's financial institutions themselves are not wise in managing the country's finances so it causes the problem. But bitcoin can help
increase the income of China and its citizens. With some state institutions in part Its budget is invested to buy bitcoin and also all Chinese
people also buy bitcoin. With mass adoption as such it is expected that profits will be made when the price of bitcoin rises. But also take
calculate if the price of bitcoin falls, it must make a backup plan related to this.
China's financial institutions themselves are not wise in managing the country's finances so it causes the problem. But bitcoin can help
increase the income of China and its citizens. With some state institutions in part Its budget is invested to buy bitcoin and also all Chinese
people also buy bitcoin. With mass adoption as such it is expected that profits will be made when the price of bitcoin rises. But also take
calculate if the price of bitcoin falls, it must make a backup plan related to this.
It may be a temporary safe haven but it won't be long. Bitcoin isn't supposed and made to cure poverty among countries. It's never even said in the white paper. Poverty and economical crisis lies within the administration and also the solution is within them. They could try to get into crypto, and I also think crypto is widespread known in China since they got multi-story buildings full of shops regarding mining, but having knowm most crypto is volatile won't do them much good either.
It might not be clearly stated in the white paper but there's a possibility that it can solve some economic issues concerning Chinese banking nad household debts, it will depend on how a single entity, a business in particular would utilize the use of cryptocurrency especially bitcoin to help them gain their financial stability. In terms of solving Chinese banking, I don't see the implication of bitcoin saving the struggle of banks as clearly stated in the white paper, sending transactions without the need of any third parties.
It may be a temporary safe haven but it won't be long. Bitcoin isn't supposed and made to cure poverty among countries. It's never even said in the white paper. Poverty and economical crisis lies within the administration and also the solution is within them. They could try to get into crypto, and I also think crypto is widespread known in China since they got multi-story buildings full of shops regarding mining, but having knowm most crypto is volatile won't do them much good either.
I think Bitcoin cannot solve household debt and banking bailouts since it cannot influence the human aspects of what causes these problems!
Agree. Bitcoin isn't going to be curing poverty, war, or any other thing and I wish people would stop asking this question, because it's stupid. How is a form of money going to do any of that? And yet ever since I've been a member of this forum I've seen threads like this one and many posts in which members argue that bitcoin is going to revolutionize third world countries and overall change the world. If any tool for doing those things could ever be created I would *think* that it wouldn't take over 10 years for it to kick in, would you?
China’s economy is not immune to the woes that are creeping into Western ones. It has long been a nation of savers but increasing household debt and more banking bailouts are signaling stormy economic weather ahead. Will bitcoin be the savior when the big crunch comes?
https://bitcoinist.com/will-bitcoin-solve-chinese-banking-household-debt-woes/
https://bitcoinist.com/will-bitcoin-solve-chinese-banking-household-debt-woes/
Bitcoin will be one of the saviors of the Chinese people
Not sure if it will be a suitable solution, to be honest, there's been a lot of theories that bitcoin would be able to solve a lot of issues, but it seems too optimistic to be honest.
Debt just simply stems from an issue that isn't solved by bettering the financial system, even if we did an overhaul.
I'm honestly getting annoyed at all of these proposals that are being shown to us, how BTC would solve this, etc, etc.
Debt just simply stems from an issue that isn't solved by bettering the financial system, even if we did an overhaul.
I'm honestly getting annoyed at all of these proposals that are being shown to us, how BTC would solve this, etc, etc.
China’s economy is not immune to the woes that are creeping into Western ones. It has long been a nation of savers but increasing household debt and more banking bailouts are signaling stormy economic weather ahead. Will bitcoin be the savior when the big crunch comes?
https://bitcoinist.com/will-bitcoin-solve-chinese-banking-household-debt-woes/
https://bitcoinist.com/will-bitcoin-solve-chinese-banking-household-debt-woes/
I think Bitcoin cannot solve household debt and banking bailouts since it cannot influence the human aspects of what causes these problems!
I mean how can Bitcoin solve household debt when the the main cause of this comes from socio-economic factors and lifestyle choices! Similarly, how can Bitcoin solve banking problems when it was the result of poor management!
Therefore, I like to assume that Bitcoin cannot solve socio-economic factors, lifestyle choices and poor management but humans will! So the solution is for us to have necessary reforms so as not to have these kinds of problems in the future. Imho.
China’s economy is not immune to the woes that are creeping into Western ones. It has long been a nation of savers but increasing household debt and more banking bailouts are signaling stormy economic weather ahead. Will bitcoin be the savior when the big crunch comes?
https://bitcoinist.com/will-bitcoin-solve-chinese-banking-household-debt-woes/
https://bitcoinist.com/will-bitcoin-solve-chinese-banking-household-debt-woes/
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