Bitcoin Forum

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 views regarding this matters and get some ideas from the tenured people in this forum. Your opinions/views are highly appreciated.

Regards,

This discussion about impact of bitcoin over economy is now too much common on this forum.
Quite simple, It can effect in the both ways as positive or negative. If bitcoin is used as legal payment in a country or state and restricting the illegal use like money laundering etc. then it will positively effect the economy(it will boost up) otherwise it will effect the economy negatively.

Though this kind of thread has become prevalent here but I would render an idea to Op. Thus simply put, the near reaching effect of bitcoin in the economy of a country is that we are going to witness the emergence of new rich people.

Bitcoin has hit 6k plus and that is huge money. This means rich people are emerging and they might start to do some social services in their local community.

On the contrary therefore, I foresee a situation where the quotom of money made through bitcoin when converted to fiat would be high which could mean ,so much money in the system - off course that would breed inflation.

Inflation by simple economic explanation is caused by too much money in circulation, this could be one of the negative effect of bitcoin in the economy of a country as well.

Hard to know. but right now, I can say that people are moving their property from physical to digital. They tend to hold bitcoin instead of gold or Dollar because bitcoin is much more stronger and it can give you a huge profit. Moreover, in the far future, I believe that bitcoin will bring the blockchain technology to the people and our ecosystem will base on the blockchain to improve and grow. blockchain is extremely good

I think impact of BTC in the economy of country is unemployment go down. Many people work in here and little people work in office. They choose work in here because he can spent time with family in their home during activity and I think work in crypto give more than profit than people work in office :)

The effects of BTC on most countries would be positive as many citizens will understand and begin using a decentralised, trustless system which is completely foolproof. Moreover it would reduce fiat based transactions paving way for implementing digital currencies as a method of payment throughout shops, institutions etc.

Many more impact of BTC in the economy country. First, economy in a country will be increase because many people have to much money. Second, the price of needed daily will rising (negative effect). Third, many more luxury goods needed. And many more... :)

the biggest weakness in Bitcoin is most of them use it as a place for laundering their money after doing a 'bad thing',
which mean it's illegaly used by people for doing something 'bad' and it will cause a problem for some country and their economy absolutely.
like selling drugs,thieft,etc etc.
just look at ICOs for example,Country A most of their population use Bitcoin and a half of them joined the ICOs,
after contributing,the project itself did not running well or we called it ran away with their money.
most of them will lose their money and because of them a lot thing will happen,
a lot of debt will happen in that country and criminality will be increasing a lot due to debt.

the good thing is,
because of it,many people easily send their money across the world or paying something in the second.
and also,for them who do not have CC or online payment can use it to do everything that they need for their life or business.

there're more than this,
it's all about our point of view and how we see it.

If bitcoin is bans in anywhere their economy depend on the digital currency and cashless society. Henceforth, China might faced the biggest blow since they banned the bitcoin last month. Now that country based miners and traders are targetting to move Japan since it has the better reputation about the bitcoin.
Now bitcoin legalization is not at all issue. If they does not make it legal. Still it will work as a decentralized money as we use it so far.

For some countries this is a way out like Venezuela, for others this is possible depreciation of national currencies due to tough competition, but for this to happen, about 50% of the population should start using bitcoin

Probably some of them are being like that, or should we say that's the most advantage for those who do illegal activities, but in a good way a lot will improve and its not a question if there is a bigbang impact in the economy, maybe the countermeasures that needs to be done was maybe verifying each and every user? But it seems that it is not that type of choice to be done because as far as i can see one quality of bitcoin that attracts more people was because of being anonymous for some reasons and the users assets are unknown.

Thanks for those who shared they thoughts,This would really help me to answer our reaction paper in school about the possible good/bad impact of bitcoin in countries economy. ;)

People is going to be willing to allocate a % of their portfolios in the capital B blockchain as they realize it is a must to have purchasing power stored in a decentralized, time-tested ledger (and there is no other blockchain as time tested as bitcoin's, and no other altcoin can claim this... unless they invent a time machine and release the altcoin before bitcoin happens, which is not going to happen)

As wealthy people allocate 5 to 15% into bitcoin, the price will go to 6 figures within the next decade.

Capital flight and the lack of inflation are the reasons that bitcoin would never be used as the "it" currency for a region. Governments inflate and shrink their money supplies all the time; this is a natural and healthy thing that we honestly cannot do without.


Capital flight is  large-scale exodus of financial assets and capital from a nation due to events such as political or economic instability, currency devaluation or the imposition of capital controls. Capital flight is legal sometimes, like when foreign investors move $$$ back to their home country. It can be illegal too, which occurs in economies with capital controls that restrict the transfer of assets out of the country (CHINA). A government will do everything in its power to prevent this; the wealth of a nation is its livelyhood.

Bitcoin embodies both of these concepts by design (deflationary and borderless).

And this is why Russia is making a crypto ruble instead of just using bitcoin ;)

If bitcoin is being widely used on a certain country, let's say for almost every transaction, the local money wouldn't have any circulation thus rendering the whole economy partially paralyzed since the money is not being put to good use. I think that's one of the reasons why the government isn't really friendly about bitcoin: the threat of bitcoin being used widely in local purchases is large that it can render fiat useless in some way.

Best way in which Bitcoin could help economy is saving it from recession. It has provided an additional shield to economy during time of recession by creating new line of wealth. Even if fiat currency of the country hit by high rate of inflation, Bitcoin with its continue surging value save it from immediate downfall. Bitcoin can act as replacement for fiat currency, till it is restructured. Thus it can act as secondary currency during time of recession.

the impact on government would be negative as it would restrict their ability to be wasteful.

the impact on regular people would be positive as it would encourage savings and wealth creation.

as mentioned above, this is a pretty common question. i don't think you'll find any real consensus across the board.

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..

If you are in a country like Venezuela or North Korea, it can make a huge difference to the country (Ouch, I am beginning to sound like Jamie Dimon). In other countries, I don't think the impact of Bitcoin is immediately visible.

Can't believe nobody has said this yet, but it would drastically increase globalization. If countries decided to all adopt bitcoin as their official currency, then people would be able to send money to another country, instantly, with very little fees.

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.

I think if a person do not have any day job then he cannot do arrangement for money to invest in bitcoin. because investment in bitcoin require a lot of money, i think for such people earning bitcoin through signature campaign and there are some other services where a person can earn some amount of bitcoin every week, and when they collect some money then they should invest it in bitcoin.

It can obviously give both good and bad effects.
A good effect would be the decreasing number of unemployment in the specific country. Because being a crypto man doesn't require much. It only requires a bit comprehension, intermediate english skills, and a hard working attitude.

The negative effects may be illegal laundering which cannot be traced, illegal transactions including drugs and and other crimes which again, cannot be traced. And tax evasion.

Those are what i think can happen in a country accepting cryptos.

The good impact of bitcoin to the economy of the country is that it will open a brand new opportunity and jobs to its citizen, brand new development of currency systems to the establishments and corporations implementing the bitcoin or their own digital currency with the help of the blockchain technology. modernization of the currency structure of the state and produce job based on this new currency make the transactions and payment easier and more manageable.
The bad thing about this currency is the anonymity, if the government will completely legalize and adapt to this type of digital currency they need an implementation and restrictions towards the use of wallets and coinbase exchanges locally as this will be a tool to used to any criminal forms of activity and scammers. It is not yet stable, any day it will go up and down to its price making it not advisable to use it in everyday activities. Bitcoin is still an experimental currency but in the near future we will see that some countries will try to adapt to the digital coins.

There can be both positive and negative effects to the economy. Positive effects include more tax revenue from the exchanges, creation of new jobs and the possibility of business ventures such as crypto-exchanges and investment agencies moving to that country. But there can also be negatives, such as the increased possibility of tax evasion and the usage of Bitcoins in crimes.

I agree with you, not always technological advances give a positive effect on the economy of the country but always with negative effects, but if we see the bitcoin and the impact of its legalization, I think the positive impact. the legalization of bitcoin is greater than its negative effect and it seems appropriate if bitcoin is received in each country as an official means of payment in that country.

No doubt, Bitcoin can have a major impact on a country's economy. If majority of people start using Bitcoin there will be a pressure on government to legalize it. As, we all know Bitcoin is a decentralized cryptocurrency so if legalized it can take over the centralized banks which will totally change the country's economic system upside down. It can also overtake fiat currency of a country. But if legalized it will also show some positive impacts on a country's economy by providing a good source of income to a number of people if taxes are also introduced with legalization. If there is no payment of tax from Bitcoin, there can be problem in revenue system.

that is why it is not easy to regulate bitcoin in some states, Because it will only be the citizens will get rich and not the government it self. I mean it would be good it citizens are rich but the country's income wont change and their status wont be uplifted in some world organizations. Because depending on how much country earns, that how they could lend. And if they cant show big money, then they stay as lower class countries.

Actually bitcoin and crypto currencies gives a big impact if all people using it,  since crypto currencies is not yet legalized then all the transaction cant be taxed and that can caused big impact for the country and now bitcoin had become headline news in a lot of country,  so I am sure there will be changes and regulation regarding to the crypto in the future

BTC is quietly rich people when you using of it, unemployed people have an income through with cryptocurrency society, why some people do work in here it because by the profitable source. Then therefore the ecomy of our country become less from jobless people got work in here.
However we have earned bitcoin without charging pay to our government and still the economy will remains.

Bitcoin has the big impact for us like providing our needs, extra job or income and to develop our economy to be the better county. Bitcoin will be the number crypto in the world it will go higher and higher. Bitcoin has also bad effect in our country, it might be used in paying bad things, drugs, gambling and so on.

That depends on which side the country’s citizens are– whether they’re on the losing side or the winning side. To explain, what I meant to say is if the citizens of a country Investing on Bitcoin bare always losing, then it will affect the country negatively and the rate of their economy will be dropping to a lower level depending on how much the country is losing.

But if the citizens of a country keep on making profits from their Investment, then the country’s economy rate will be having a slight increase daily.

Statistics tends to keep events like that in balance. It's impossible for all citizens of a given country to lose on their investments. As people are trading some will profit from it and some will lose money by making wrong decisions. Bitcoin traders aren't making money only when the price goes up! Also, the more investors there are the longer it will take for a coin to lose value completely. There would be plenty of time to move your money somewhere else had the need arisen.

The general impact of BTC to the economy can't be calculated. You should review every economy because most of them are different. For example if  the country accept bitcoin it may only benefit in future. But if it will accept BTC then the economy won't only depend on this current country but will also be affected by outer impact.

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.

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.

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.

Really? That's ridiculously insane. Charging cutomers with their own account from the bank? Isn't it fixed amount once you become a member in their bank? That's not fair. Anyway,the possible impact of BTC in the economy of a country is of course the betterment itself to have a good economy and fair growth. Probably,many people will be good at business no matter what age they are. So it is getting a lot of privileges to be successful in chosen careers so definitely bitcoin has an impact to the economy of every country and individuals.

i really dont agree maybe the impact of bitcoin to the economy on a country depend on how open the people to welcome btc how they do and how they handle and believe in btc.because btc is just an instrument. If the people didnt believe on it bitcoin did not work or maybe its price and value will fall down if we really want to help our economy maybe helping btc to grow will be the best thing to do.because  btc can really help specialy to the ordinary people that lives in a simple life .

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.

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.

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.

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.

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.

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.

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.

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.

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.

Well I think first of all it can reduce unemployment ratio of any country and secondly it can play every big role in any economy of country because bitcoin price is high and people are going to take advantage of it bitcoin actually work in poor or in third world country very well because bitcoin price is very high in these countries and it can give a very good profit to them.

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.

If money laundering is concerned, it can affect the bad direction. When used in other commercial areas, it will surely be worth it.

Yes if a country will accept it then there will be a lot of role of bitcoin in the economy because bitcoin is the most beneficial coin of this time and we can easily see the difference of economy of the countries who accepted it and those who didn’t and yes it will be a key factor for the country to become economic stable and moving toward development and bitcoin has raised the economy of many countries in past.

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.

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.

The impact would be great for the economy of a country. Reasons are it could provide the need of someone who is jobless its needs and in some cases its want too, students who are in danger of dealing with loan sharks decreases and they could have money needed for their study without thinking of they should repay it afterwards, parents who are a house person that their job is to keep the house while their partner is working could earn money while doing so and in some cases they could have earn more than their partner who has a job. this factors affects economy by decreasing the number of individuals, family and a community who is poor.

Its possible impact especially to those none employment they can use bitcoin as they work like here in forum i know many people here have no work. Now many unemployment that get a huge income here.

There are two things when you are talking about impact of bitcoin on economy of a country. First, there is happiness and prosperity coming out of the individuals when they work on bitcoin and earn so much enough that they become useful persons of society, contributing to it.

Secondly, they don’t pay taxes when they do transactions of bitcoins, so in that way yes there is no better impact. But it is, in the first case.

It is all my observation and opinion. So please do respect it.

Good to economy:
 + individual financial independence
 + less unemployed better for the country
 + faster transaction means more transactions a day, money flow
 + monopoly will be lessen
 
Bad to economy:
 - no taxation/ on some country
 - banking investors will not invest bigger capital
 - central banks will have doubts on our financial capability as they don’t support bitcoin

For now this all I know that might have impacted at present time and it is not the ONLY factors but many more.

I think bitcoin have few impacts in the economy such as new currency (though not yet accepted but already useful), financial stability and employment. Among these, i think the the factor with the most impact is increase in employment. Based on observation, most people who tend to just stay and play in the internet had been able to work in bitcoin. Even those who just tend to stay at home, had been able to work thru bitcoin.

We cannot expect much impact may be possible by bitcoin in the economy of a country. Bitcoin user and bitcoin usage is very less percentage in the world so it is not possible to make any impact in the country economy at anystage.

But in near future if Bitcoin increased its stake then there will be some reflection and reaction happen that we can expect.

Well that's one of a good impact of bitcoin to all people somehow bitcoin helps those in need of money or unemployed. One more thing a good impact will bring bitcoin to the economy if this will be legalized is the fast transactions that could save time to all users.

Bitcoin helps people especially those who are unemployed like housewife who wants to have additional income and because of bitcoin they can earn and become financially stable which in return helps the ecomic growth of their country if people economic status improve then the economic status of a country also improves.

That's a way better, but the same doesn't make a big change in the country's growth. In my view bitcoin create an inflow of economy through the bitcoin to the fiat trading. Also in some form users pay tax based on the transactions done. These were all minor growth promoters, and on the whole the technology adoption might lead to a better growth in economy.

It's a combination of both good and bad impact. Good in a sense that more people in a country that supports btc can have access to opportunities of having good profits. Especially that in times like this, a single job can't fully support a family that's why more of us need additional jobs. Btc also have the potential to address unemployment of a country. But the bad side of it is giving criminals a freeway to have their transaction effectively. Illegal transactions have been rampant and btc technology helped them to cover up their crimes.

Bitcoin helps people to gain more money, both the unemployed, low wage people, and actually everyone. Bitcoin, when converted to cash, can increase the amount of money circulating in a country. This is a good thing which thus can boost the economy of a country. On the other hand, if all people and all merchants will move into using bitcoin, then paper money would be useless. It means loss from the production cost of the paper money.

The impact of bitcoin in country's economy will not matter if people who uses bitcoin of a particular country is not that much bigger in numbers there will only be an impact if full adaptation of bitcoin will be implemented in a country in this scenario if the economic status of their people change and improve for sure this will help their economy to become stable.

Bitcoin Used my Anonymous Users So that can’t be controlled by country

Effect only for people So it will up some families from poor

Ofcourse it will make an economy healthy but it depends on how a government will adapt bitcoin. As I see now, those democratic government implements bitcoin with minimal requirements needed to their investors while those authoritarian form of government is having a hard time fixing the regulations and rules to be implemented. To summarized, bitcoin is simply a technology and it depends on how people and government use it will determine its effect to the economy.

Governments do not want to change anything. They think that everything should remain as it is. Their main task is to control the income of citizens with the aim of subjecting them to yourself. Bitcoin makes people independent of the government. They can earn income outside the state. Independent people are difficult to control. This is the main reason why government against bitcoin. But in fairness I will say that the bitcoin will not help the economy.

I have to disagree with you on this. New innovation bring new job opportunities. People develop new applications linked to global Bitcoin payment options and these new jobs generate income for unemployed workers. People can now do micro tasks for micro payments. < The signature campaigns on this forum is a good example, where people get paid a few dollars for posting on this forum >

Before Bitcoin people used expensive remittance companies to transfer money from one country to the next, charging high fees for this service. Bitcoin has made micro transactions possible for very low fees under the right circumstances. < When the network are not being spammed >

Even faucets can contribute as a income generation for people in third world countries. < I have read about people who bought food with the faucet income a few years ago >  

I don't agree with your arguments. In the IT field, there are no problems with employment even without bitcoin. Competent programmers can always work remotely and get paid for it in countries with high wages. the problem was for those who do not have competitive specialty. They are forced to work only in their own country and earn income at the level of survival. For such people, bitcoin is a way out.

Actually in our country, government doesn't add any tax when we are exchanging the value of bitcoin in our local money. But not just because they not adding a tax to our money, means they dont have effect in our economy. Of course it has. It lessen the number Of unemployed in our country. Its makes the life of bitcoin user in our country more stable especially in terms of financial. So it help the country to improves its economy little by little.

Since there will be a lot of people scrambling to get their hands on bitcoins and if that happens since the supply is only limited to 21 Million bitcoins as per the creator of bitcoin stated that means the supply wont be able to fill up the demands of more people making it harder to earn and get bitcoin. Well there are several alt coins that people can also use but since every alt coins also depends on bitcoins price they will also be affected what ever happens to bitcoin.

I can say what will be the impact of bitcoin on our country's economy. Transactions can speed up such as paying bills, transferring money and shopping, etc. in addition there will be reduced unemployed to a country because you do not need the requirements and investment just to earn it. It's simple just what you need here. Your internet should be strong you have the determination, diligence and assurance here in the forum besides paying for that you have learned a lot.

The impact of BTC in the economy of our country is that it makes every transactions easy. But it is not only the impact to our society but rather every individual will become millionaire through the help of bitcoin. So i think bitcoin is really really good source of income.

There will be no impact to the main economy of my country why? It is because they do not know any transaction we made, if when do our money came from ot what ever our job is, but once bitcoin got tax then it is the time where economy will going to make movement.

The economy rate of a country is measured through the GDP and GNP, and without a proper regulatory system, it is hard o track all Bitcoin transactions which means the government cannot fully record the money that goes in and out of their nation, and that is a bad thing.

Cryptocurrencies are disruptive economic innovation that have the potential to revolutionize the current economic structure and change how banks and financial institutions operate. Bitcoin is the most popular form of cryptocurrency that enables digital transactions between two parties without the need of an intermediary. The money can only be tracked when it is converted into cash. This public way of managing transactions has created the possibility of a huge revolution in the banking sector across the world.

           Yeah as much as i agree with it, eventually it is just that you guys were saying that bitcoin is not a job particularly, and as much as I am concerned around here, so many opportunities, businesses and many other offers popped out linked in bitcoin and such things that are being called "job opportunities" thingy. Well its not to ruined the statement but that is how it actually works. Like it or not bitcoin is part of what you consider shitty economy.

well i think the impact of bitcoin in the economy is really big especially to the financial aspects or the ordinary people around the world.bitcoin is really amazing  .it will really help the economy to rise  because this is a big opportunity to be grab by the people arrount.maybe bitcoin is the great big help on making money online .

Yeah in fact our central bank issued a policy that’s encouraging financial innovators like BTC crypto currency to be protected against money laundering  and financing terrorism activities, because it provide and revolutionized the money remittances  of our overseas contract workers to make it faster and economical, as we all know thus remittances is great help our economy.

Ok and how does she get an income? By trading? She needs money to buy Bitcoin first and it's a lot of money at the moment.
By using faucets? I hope not or she's going to go blind before she gets some real income. Maybe she's going to start posting on this forum and joins a sig campaign? That would be something, right? All the housewives posting here for money...

i believe that bitcoin can make economy of a country grow because a lot of bussiness are entering the blockchain just like those ICOs, after they raised funds of course they will become just like a normal company and if a lot of ICO become successful it will open a lot of job opportunity to everyone and it is all thanks to the bitcoin.

I think it will boost the economy of any country because it will reduce unemployment in the country as well as the monopoly well be lessen further more circulation of money will be faster so transaction will be increases. Specially in backward countries where people do not have proper job and there is no such a good mean of earning. I think bitcoin is more helpful for such people to make some money and lead a good and standard life.

The possible impact of BTC in the economy of the country, is that people want to improved ther way of living by having betcoin as there crypto currency and by coverting to there country's currency they will have good return after. I believed that by having bitcoin will give help to our country which makes a good economy in the future. :)

It will not reduce the unemployment in one country instead it will help to increase the unemployment status because most of the minimum wage earner are leaving their job and they focus on bitcoin and the earner of bitcoin is not reported in the government but it will help to boost the economy of one country because it could help to reduce the poverty eradication since more people are now accessing bitcoin and earn more money for free even they do not have any work experience.

Well not only this but a lot of the other systems has been developed and invented for the betterment of the bitcoin and the future of the bitcoin will go more high if we will get the bitcoin and will be in it for the long time so this will be the best thing and the bitcoin price and the value will not get disturb with it so it is good to invest in the bitcoin and to buy the bitcoin for more profit and the secure future.

The possible impact of the bitcoin in the economy for a country will be good because the people will find faster way of transacting money and transferring money from one point to another. The flow of money will become so much faster and it will make the economy of the country much healthier than before and i think that is the impact of bitcoin and there is nothing to worry about the negative impact because they can be fixed with an ease.

The speed of a bitcoin transaction definitely has not been a strong point for the currency at all points and even though its being improved over time, I think it's not a strong point to build support for the currency on. Instead, support will come more from the fact that bitcoin can be treated as an asset and the fact that it is an anonymous currency. People enjoy being able to spend their money with a certain level of protection -- they get that protection from using bitcoin.

It is almost 1 year now since I joined this forum and started understanding Bitcoin and other online cryptocurrencies I can safely say now that it is playing a big role now in our modern technology as it serves as an international online digital currency meaning the economy of a single country will surely benefit from it if the people uses it as a legal tender because the market of this money is the whole world.

Maybe there is no specific department of each country that filtering the flow of money that is coming inside and out of this cryptocurrencies but I am sure that a large portion of it is really helping the economy of any countries were its citizens uses it.

It all depends on the people living in that country as well as the government. If the government is willing to show positive interest for the good of bitcoin, then I believe bitcoin can play a major role in making the economic condition of the country better.

Moreover, it is also directly proportional to the number of investors who are willing to invest in bitcoin. More investors will result in better condition.

By using crypto currencies like BitCoins people can make illegal transactions without giving any information about themselves. Crypto currencies like Bitcoins are a way to empower such transactions across the globe which will ultimately result in increased cyber crime.

Actually, btc violates the foreign exchange rules of every country due to it being a virtual, instantly transferrable and accepted currency worldwide. Its impact is hard to monitor as it does not function within the framework of law of any country. The only endpoints are the exchnages which are being regulated, and even many of those only accept users from within that country, so unless youre including black money/unregulated currency transactions, its very difficult to measure the impact of btc on the economy.

Correct me if I am wrong but off late icos are shit. They scam people or they aren't worth of the potential of raising millions. There is a major difference between icos and companies, in literally most of the aspects. And how in the damn world is there a link between bitcoin and icos being successful? Icos are successful only when they have something to contribute to the society, and people are interested to invest in it.
In an economy, there exists factors which help in influencing decisions, bitcoin cannot be used in an economy whatsoever. As a Normal person this may sound as a pessimistic opinion. But in economic terms this will lead to some sort of destruction of the economy. But maybe what an economy can do is that instead of adopting bitcoin, keep it aside to rule and develop their own crypto currency just like Russia if there is a need to.

BTC can definitely make a drastic impact on a country economy. As it can create a whole new parallel economy at the global level. There could be a huge change in the tax collection amount of a country. Some of the other impacts are that it can prevent the situation of recession by creating wealth but on the other hand, it can also be a reason for inflation.

I believe it can help to make everything balanced, but only for those who are serious with it. You can’t cross your legs and wait for money to hit your account, you’ve got to work for it. Bitcoin has created a lot of opportunities, I believe.

If I’m going to just surf the internet everyday and gain nothing by the month, I better get into ordinary Faucets and grab a few bucks for surfing the net, cause with the current price rate, even 500,000 Satoshi is worth a thing, it can even help you pay your bills

I think bitcoin gives both positive effect to the country and the people who are earning on it, because people who are working to earn BTC in such a different way like media campaign and signature campaign can earn at the end with bitcoin and then converted to its national currency so it brings additional money to the country and imagine how many people are involve of this kind of activity so i think that they already bring additional money to the country.

Bitcoin affects the usage of money. So, when people in a particular country starts using bitcoin for transactions, it has a negative effect on that country. Unless that country acknowledges bitcoin as an asset or as a valid currency.

Bitcoin earned when offering online services for a foreign client will bring inflow of money for those offering such services and those bitcoin earned will be exchanged to fiat and increase their purchasing power of those individuals and this will be used to buy goods and services in that country leading to increment of manufacturing companies producing more goods and government will collect their taxes from these companies and this will improve the economy.

Bitcoin is a global currency this one reason why many people wants to earn bitcoin it can be use world wide though the acceptability is not that much as of today still this currency has established a market in the world. For the economy of a certain country through bitcoin opportunities are open to a lot of people and the good thing is those unemployed are given the chance to earn and make a better living and as the people lifestyle improves the economic status of a country also improves.

100% agree with you on that. Definitely, over time, we may end up seeing some improvements and as Litecoin boss said, it is possible eventually that bitcoin will be more of an asset while another altcoin which seems stable will be used instead for transaction purposes.

So a time will come when we will just have to convert a piece of our bitcoin to another altcoin for transaction. Like you said, that protection is what people have really craved for and finding it in bitcoin is just like finding a solution to their problems.

As we all know that bitcoin is a life changing that give us hope to have a better future. Although it give us such changes in out life but it won't totally give a huge impact to the economy.  Knowing that bitcoin isn't implies to all areas but still have its own purpose and contribution to us. Only the individuals have benefited on this not the entire community, as being taxed by the goverenment it would help to contribute more in the economy.

You have a point mate that improving people lifestyle may also improves economic status of the country. But looking through the other side there is also some negative effects of the country's economy as we know that crypto currency is a decentralized system and no other party is involve so the government cannot take an income tax even how much people earn from bitcoin in an instance. If almost all the people quitting there full time job in company where they are oblige to give their income tax to the government, therefore decreasing employment means there is a decrease of country's taxation of labor.

Bitcoin will bring positive change in each country like  it will bring financial independence as well it will reduce unemployment and further more the monopoly will also affected in these countries The transaction process will become very faster  so the money will circulate in country.

Basically, bitcoin is not risky because the scheme of its use is still small, but if changed and if growth of bitcoin grows significantly, it could endanger a country's economy.
Many countries consider virtual currencies such as bitcoin to pose a risk to financial stability if applied on a wide scale.
But my opinion is not like that, i think that bitcoin will bring the economies of developed countries.

He value and the price of the bitcoin is not the big deal mate it is the time of the bitcoin I am not agree that the time will come that the people will change he bitcoin to the other currency for the transaction because the value and the price of the bitcoin is increasing more and more so it s the time for the bitcoin to get more and more wide and soon in the future bitcoin will have its own value and the importance.

The only thing it can impact on for an economy of a country is of course if it can help the increase in Gross Domestic Product of a country. It is a long shot but if the flow of Bitcoin earnings will help in the increase of the final domestic goods and services produced (GDP) it can affect the growth of an economy. Especially if that growth is from foreigners as foreign investments can help us really improve in the country's growth. But the crucial part of it is really earning Bitcoin first as it is the first step in order to help the economy of a country grow.

Related to the association of bitcoin with the national currency, how come Kim Jung Lee has not yet declared bitcoin as their national coin, and how they developed it and so on, you know, like on the olympics, they have won everything, at least this is what says the north Korean government. The effects are not predictable because, as mush as i know, we don't have a model in the back to give as a clue, but i suppose eventually people will go on with it as long as they cand buy all kind of stuff with it.

You really have a valid point here.
Lots of people all over the world, which we did not really have in the past due to international restrictions and barriers are now investing in companies with prospects, values and product via ICOs which over time as an investor will give them more return and as you have said, we will keep seeing companies most especially related to the IT scene, coming up with ideas and having investors to help build it and gain a lot from it when it shoots.

Lol here we are talking about the impact of bitcoin on economy not use of bitcoin in crimes and those who says that it is fault of bitcoin that is used in illegal transaction they need a doctor and the impact of bitcoin on economy will e very good and one can easily see the difference in the economy of those countries who are using it and those who are not, bitcoin is economy booster, it give stability to economy.

This will help only if bitcoin becomes legal entity of the national services. It will start contributing into national economy when there will control of government on bitcoin or whole crypto community. This is important step because people will not help grow the national economy if they are not paying the bitcoin charges into banks or financial system that they are using. If we are putting money into bitcoin and growing it there and keeping it there only (in the wallet/blockchain) then it will not help the national economy. So it’s decentralised character could restrict little bit. But let’s see what happens in the future and how it contribute to the government and nation.

i think we already talking about this several times ago and the good impact is bitcoin can reduce unemployment people because bitcoin can provide opportunity to makes money and the bad impact maybe in some of countries who admitted bitcoin as illegal then bitcoin users on those countries will against the law

Still in ambiguity whether this kind of investment really make the national economy grow. There is simple fact that grows the economy of nation and that’s how much tax I being paid by different business and individuals. This contributes to national development and everything runs smoothly to give out growth.


In case of crypto currencies as we know it’s completely decentralised and have no regulating body to incur the taxes and all the charges for services it’s not really contributing to it. I’m sure after forming a normal company they will have to work under regulation but there is question, will they really show up all the funds they raised because if they don’t then there is no taxes. No development. No growth.

There is a good/advantage or bad/ disadvantage of bitcoin in the economy. Let us go first in ourself because i believe any changes in our economy should start first within ourselves.

Let us tackle first the good impact of bitcoin, we all know that poverty is one of the leading issue in our country. Because of bitcoin it gives ease life to those people who are victim of poverty. It gives ease life in a way that even without permanent job bitcoin give enough amout that can be use or can be help to have a better life. Even in students it gives good impact to them because they dont need to depend theirselves on their parents, asside from. that they help them also.
Let us now move on to the bad impact of bitcoin. Someone says that though bitcoin can help still there is disadvantage in doing this, in a way that it teaches some people to be lazy, lazy in finding a permanent job for better future of their family.

Bitcoin can have a very major impact on the economy of any country. It all depends on the interest of government. If the government is willing to declare bitcoin as legal currency, then I think bitcoin will surely be able to make the economic condition of that country better. There is no way that we can deny the worth of bitcoin. We ourselves have to take advantage of this opportunity.

I think unemployment is the one impact because they want to work in their house with their families. No boss, they hold their time. If we are hardworking and a lot of patience we got money here. So we fight poverty and we help our economy in the country.

Reducing unemployment, I think it can change the financial position of a country. Because if the government allows the people to deal in bitcoin freely, people will invest in bitcoin and as the past shows the price is growing more and more people will earn money and they will be prosperous. The burden on the government of unemployment will reduce. The inflation rates will be reducing and many other advantages the government should take from bitcoin legalization.

Taking into account that the capitalization market of bitcoin is still very small, I do not think its influence can be so significant these days. In fact, no currency in itself is a creator of wealth, because in order to reach a certain value there must be people interested in investing real money in them. Therefore only the big speculating capitals could be especially benefited with the loot that represents the altcoin market.

For me the possible impact of BTC in the economy of a country is it will help many students like me to graduate, because if they know how to earn money in bitcoin, so they can help themselves to pay their own tuition fee and to give allowance for themselve, and the possible impact of btc in the economy is it will help a lot of people who are under graduate, to have a homebase job.

Definitely there are two pictures as far as this case is concerned. Individuals make society and they have a direct effect on the society values and attributes. Like if someone is making good money then ultimately he can put a better impact on society.

And bitcoin have made such people who are contributing better to their society. The second side is related to tax paying, bitcoin users don’t pay tax on transactions.

Yes, there are two sides to almost anything. But more on the good side for bitcoin I would say. With proper information on bitcoin and a sufficient understanding on its functionalities, I am sure that many will benefit from it. Thus, the economy will generally improve due to the possibility of various contributions this system could offer.

There are negative and positive impact of  BTC in the Economical aspect of a Country.  Negative would be it will lessen the real marketing strategies of businesses and companies and competitions may occur. If were going to analyze, marketing strategies using online sites and ocial media would be very effective and efficient in comparison to the normal marketing method that we used such as blogging in magazines, newspaper,  billboards etc.  But if BTC will be legalized it would be n edge on increasing Economical aspects of ones country as we can easily increase good profits of different companies by adapting the high technological marketing strategies.

There would be impact even though it won't circulate much but as some people standard of living is improving, the economy is being helped as they keep having the chance to build something or ideas for themselves, which in turn creates job and so and so forth. It totally depends on who is ready to embrace it or not, but the opportunities are glaringly there.

I think bitcoin can affect a country's economy but may not be on a large scale because many other factors that can affect a country's economy. although now many people are starting to use bitcoin.

The impact of Bitcoin on the economy of a country are enormous, it ranges from increase in the purchasing power of the population of the country to economic boom if all things remain equal(seteris parable).

When the individuals grow in economy, automatically the country as a whole grows in economic scenario. From experts view, the country that use bitcoin similar to mainstream usage will experience a great growth, because the future is gonna function completely upon the technology and internet which were also the major reason for earning bitcoin.

No taxation is not something that would even be a problem as most countries are already finding ways to do that now via exchanges and as long as you are converting what you have to fiat, then you just have to pay tax except you want to deal solely on P2P direct transactions only.

This is the reason why we cannot expect any government to adopt it as a main currency but everyone can use it as long as they not doing anything against the law in the process whereby governments would be benefitting more as people keep getting the chances to make a living in the bitcoin crypto community.

If the government is not aware about people earning in bitcoin and not in the industry it still high in unemployment rate. Those people which no one can see their work to earn will live more comfortable and no problem financially. Still working and earning in bitcoin can reduce the poverty rate in the country as everyone knows the use and existence of cryptocurrency.

I think it can increase the revenue of any country it can increase import and export as well as it can reduce unemployment and also bitcoin can make able people for their business and there are also a lot of things which bitcoin can do for the economy of any country in short world in any country bitcoin can finished poverty easily but if govern support bitcoin.

For me the positive impact of Bitcoin in the economy of a country is the improvement of  way of living of people using it. If the people living in a country has the capacity to buy anything they want it will increase the commercial sales of country. Too, bitcoin reduces unemployment because it gives the people the opportunity to earn money even they are just in their house. While the negative impact is that some people might think that it can be used in illegal activities.

I hope we all understand the meaning of “asset” which I don’t need to explain here, unfortunately some of the mates think that asset and currency are something different or what? Or if not then this is what I got from what you said. I think that you people want to say that a time will come when bitcoin will be considered as a fixed asset rather than a current asset. At present the status of Bitcoin is a currency (currency is current asset according to the law) and it is assumed that in future due to its high price it will not be a currency but will be treated as a digital commodity. These are just perceptions of the people and propaganda by those who are promoting alts.   

Yes there will be a positive impact but i don think that there will such a huge impact because still most of the people still do not know about bitcoin. I think it can improve the  financial condition of an individual but it does not mean that it can improve the whole state economic condition, i think it will take a lot of time in we are expecting such thing from  bitcoin.

I think there is only one impact that bitcoin has to offer to our country, and that is modernization. Having said this, modernization leads to convinience to everyone, and that will lead to growth of the country aswell. If there are negative use of bitcoin and effect on the country, that would be because of users abuse and not because of bitcoin.

Catalonia will be a kickstart for a new bitcoin world order. I believe that spain is not going to give freedom to catalonia. And this will make a big impact on Freedom related issues such as freedom currency "Bitcoin"

The possible impact of BTC in the economy is become grow because the unemployed slow down and the poverty of the country will be solve and the needs of the people meet by the help of the bitcoin and crime rate also will lesser no bystander at night or beggar and the crime rate will slow down also.

The impact of Bitcoin on any nation is an expected enonomy boost so enormous that it can not really be quantified financially. An involvement in bitcoin and cryptocurrency in general now enables many a young people to control a certain unimaginable level of wealth. This helps to increase the GDP of any nation whose citizens are allowed to hold or trade in bitcoin) cryptocurrency. It is as good as that.

the possible good impact for the country dealing with bitcoin is that it decreases the number of unemployment, whereas the bad impact for the country is that they cannot get any taxes from the users of bitcoin so that they cannot help economy of the country mostly.

I think bitcoin gives great impacts on individuals not on the country in wide economical aspect. people who are involved in bitcoin, they can earn money and free from any taxes of the country. in this perspective, it certainly makes government suffers financial loss.

If the country had legalized and accepted btcoin as currency, it will open new opportunities for investors, since it will broaden their field, and will also help the country to decrease the number of people with no job. As we can relate, stores that are already accespting bitcoin are becoming much more stable, and in turn they can manage to pay off their workers, thus giving taxes to the government, leading to a more sustainable economy. I think its a matter of perspective, where you look at it, if you look at it as an investor, you'll see a long term for the government, but as a consumer, you might say all the money just go to the government.

more source of income would help the economy of the country. this will also the opportunity of the country to improve their economic growth. but the bad side is bitcoin can be used for illegal activities.

with the new currency will surely have an impact on the economy of a country, let alone the bitcoin currency is internally renegotiated as a means of digital payments, must transactions of the online world more rapidly and the economy of a country will advance

It is depand on types of bitcoin uses. If people use the earning from bitcoin in negative way then it will negative effect on the economy of the country.Or if people use the earning  in ppositive  ways then it will positive effect on economy of country.Thank you.

In my opinion, if the government makes a good "law" and legalizes it, it has the same pros as far as the world goes forward in the era of the internet and that is necessary.

As being tax free, is the reason that bitcoin will never give a huge impact to the economy of the country. Practically speaking, government doesn't gained benefits from bitcoin. Only us who are benefiting this as a part of bitcoin community. But if it is happen that we are oblige to pay taxes, then that's the time it will contribute to the economy of the country.

I can only see bad impact on the national economy because for now investing into bitcoin is really one way procedure. There money which is flowing from the national treasure to bitcoin but it doesn't come back in terms of tax which can be claimed by government in legal way and in turn which can be used for the developing of nation itself. May be thats not good way to go with the bitcoin if seen from the critics reviews.


But, I believe there is positive impact in terms of unemployment problem which can be seen in major cities as well as small one where job opportunities are not much due to digital world around. If government takes it in all positive way then yeah sure it could benefit a lot.

I think the bitcoin has a great impact to the economy of the country. Because bitcoin created many jobs for those who are unemployed. Bitcoin created many opportunities to many people to earn more money.

It all depends on the country and the people who are living over there in that country who will decide the possible impact of bitcoin on the economy of their country. If there are number of people who actually know about bitcoin and are investing in bitcoin, then it will have a very positive effect on the economy of their country. It will the economic condition much better.

If government will manipulate bitcoins circulation, The value of this coins will reduce because they will be placing tax. Next thing is that, A lot of traders will be disappointed and companies will reduce investors. I hope that government will not control bitcoins in the future so we can still earn more profit.

People are getting in the bitcoin and they are increasing the value and the price of the bitcoin at the huge level as now all the people are aware of the bitcoin and the bitcoin price and the value on time to time increasing and the people are turning the bitcoin, I use the bitcoin and I know in the future bitcoin will be the world currency and all the people will be aware of the bitcoin and the importance of the bitcoin.

Well, even government would not look at you making use of something without having to pay tax for it. Except if you want to do a P2P transaction though, most exchanges would be subject to tax on every transaction which would be paid by every user at the end.

Over time, you will still need to make use of fiat at some point cause not everyone would definitely make use of bitcoin and remember, you will always have to be purchasing stuffs as well and as long as you keep doing those things, tax is just definite.

But currently the bitcoin users are consider as less than 2% then how can we suppose that it may have good impact on the economy of a country? I would like to say that it may have impact on the financial status of a single person ,but as a  whole it may only be possible when the users of bitcoin will increase and most of the people of a sate use bitcoin or adopt bitcoin, which make take decades because bitcoin is in its early stage and most of the people even do not have any idea about bitcoin.

Well, that is wrong! As long as there would keep being usage for fiats or we will still have to keep buying things and there would always be new startups and existing ones, tax is something that any government can still achieve. Fiats would still remain relevant and exchanges would be controlled and once you are converting to fiat, you damn sure you have to pay tax whether you like it or not.

You can even earn across borders without any third party and no interference and limitations. That is what has made it so much fun. Gone are those days, when paypal would restrict some countries or sending payment internationally would be a problem.

Now, we see so many freelancers on this forum and on the web from different parts of the world doing stuffs and getting paid without stress and that to me, is the freedom we have always craved for.

It surely will. Imagine those who have been on this forum right now and having kept what they have been earning no matter how little ends up having a much more value for it at the end. This would help more unemployed people to even create more startups, employ other people and then the economy gets better gradually. It is a way in which everyone can just end up being fine at the end.

The impact has been rather very good, most young people have been drawn towards bitcoins because it provides them with a source of income, most people have entered into the business of buying and selling bitcoins for a profit here so bitcoins has reduced unemployment in my country.

Just see he economy of those countries who are already using this coin their development rate is much better than those who are avoiding its legalization and on top of it this coin is best known to boost economy and this has happened and this coin bring business to the region and that will give huge boost to the economy and more of it btc will give stability to its using regions and bitcoin will be coin of future,

well there are many possible that may happen here. there is an instance that bitcoin can improve our economy in every country in the world there is also chance that bitcoin cannot help to economy because some people think its a scam.

i think the impact of btc in the economy of one country is good bitcoin can reduce unemployed people and also reduce poor people bitcoin is very good effect in one economy.

I've seen a lot of young people already invested on bitcoin so I think its really good for them. And for the economy of a country bitcoin will help their citizens in turn they can keep the economy going because they have a lot of cash to buy. In short bitcoin has given a sort of purchasing power to some of it. And if ever they would used bitcoin and convert it to local currency and spend it as much, then the government will have additional cash flowing on their economy.

Definitely when there are more buying and more economical stability comes with the individuals then how can you think bitcoin will don’t have any impact on economy of a country. When you think of all the matters related to society, money comes at number one.

If the people are wealthy or even they are up than poverty level, that society is considered as wealthy, and bitcoin helps to make this happen.

Anyone who is smart now should even ignore the countries or anyone not accepting it yet.
I am still happy I got to know bitcoin when it is not much known as it is now, but I wish I had known about bitcoin since 09/10… As more people keep getting aware, more elites are being created from those who are here now and that is a very good thing for those who will be able to utilize their wealth and diversify it offline which I believe will even create more employment.

If you can see the side of bitcoin where everybody has been benefited by converting bitcoin into money has a great impact in making our economy progressive. One factor that one economy is progressive is that the poverty rate of the country. So if everyone of us is using bitcoin then we can decrease the rate of poverty.

Bitcoin is real economy booster and we can easily see the development in those countries where ot is accepted and the citizens of those countries are also enjoying their lives in an epic ways, and those who think this is scam show them its market critics its users life styles they will automatically admit its importance and maybe they will ask to invest into this coin so guide them so that they can earn well.

So many people, who have accepted the coin right now, just like those who accepted years ago would have benefited a lot from it and then be able to setup something good. The economy will keep getting better as we see more people making it and more employment opportunities springing up as people keep building their dreams.

At this stage, anyone who is still trying to consider bitcoin as a scam is either ignorant of the facts about bitcoin or just simply does not want to shed the scales on their faces. It is not a do or die affair and everyone seems to believe whatever they want to believe, but only time will tell and by the time we see lives of some changing, then we will know if there would be an impact on the economy or not.

I think Bitcoin isn't effected to the economy of a country. Yes it could effect to the economy of a product, banks but not with only a country.

If government legalize the bitcoin and accept it will be positive impacts on economy of the country,Cryptocurrency is the medium who make illegal transaction like drug,smuggling,weapons which harmful for society and cybercrime will increase.So after legalize it will be minimize and every transaction will in watch of government,The new market of cryptocurrency will be the people an legally invest there the government will be beneficial in for of taxation.

Bitcoins can have positive as well as negative impact on the economy of a particular nation. The positive benefits include creation of jobs and increase in tax revenue. However, there can be negative consequences as well. If Bitcoins get too popular, then the national currency can lose its value.

I agree, because with bitcoin the poor people can earn more so they can spend more. The companies will earn more and they will do something with the money they have earned from the people.

All this will help the economy of the country and will also help the poor people.

You know terry there are many positive and negative impacts of bitcoin in the economy of a country but I will just give you one positive and one  negative. The positive effect of bitcoin in our economy is it can reduce the poverty rate in our society because even they don't have a job as long as they know how to earn bitcoin they can survive. But because of this negative effects will come in, and the reason is some people will not find a job and they will just focus only in earning bitcoin that's why a specific country will going to lack of man power.

Take a look of this Japan Legalize (http://www.newsbtc.com/2017/11/10/japan-legalization-of-bitcoin-led-to-surge-in-mainstream-adoption/)
Japan has legalize bitcoins on their country. As legalize, they has led to a surge in mainstream adoption in the country, as major stores, merchants, and retailers have started to accept bitcoin payments.
As impact surely this will help economy growth, and i do agree by this monitoring legalize can be minimize illegal transaction.

Legalization of bitcoin in Japan really help bitcoin in terms of popularity and also its price and that is why a lot of people wants to get bitcoin fully accepted in different countries because in that time only will bitcoin become one of the most useful currency because with the legalization of bitcoin, a lot of people will use it and it will just become like the normal fiat currency.

Although not necessarily that we should legalized bitcoin but because of the government call for bitcoin,  then it should go thay way.  Anyway,  of having bitcoin to be legalized it will basically add trust and confidence for the community to invest bitcoin. And, in the same time it will publicized and it could be a way of spreading a good news about bitcoin and it's  purposes of it is being created. With this way,  bitcoin will become a useful tool for huge crypto development in the community.

Do you only look at the popularity of cryptography in society? I think that this is not appropriate in this case. The fact is that people need ease of use of currency. A bitcoin requires a certain level of knowledge•

The possible impacts of Bitcoin on the economy of a country is that, as Bitcoin value increases almost all the Bitcoin holders in the society will have their income increased and as such it will definitely affect their purchasing power positively and thereby increasing the economic activities of that country and equally, the living standard of the individuals in the society.

There could be many possible impacts of bitcoin in the economy of our country. One of the possible impacts is that people will become financially stable and it will lessen the number of poor people. So when the people will become financially stable, they can but everything they want, they can travel many places, they can build their own business so I think the economy in the country will grow because people can afford to buy so the sales of any industry will increase.

Well, imagine if a poor country like Venezuela were to invest into buying a few thousand Bitcoins. Let's say 5,000. Now, someday BTC will be worth $1,000,000 each. Therefore Venezuela will get $5,000,000,000 (five BILLION dollars) for the small investment. This could save their country because the population is only 32,000,000 (32 million people) therefore each person would get $156, although maybe only the bottom 50% would qualify, therefore each person would get $300 or so, which is a lot of money, in comparison with USA, $300 in Venezuela would be worth $600 and also babies can't spend it, therefore families would be helped greatly by it. This is what I would do if I were the leader of Venezuela.

To have a certain impact on the national economy firstly it has to be regulation so it becomes legal, and secondary i suppose there will be less and less needed for paper (no money, registry entry and so on), so the impact would be in a positive light.

From what I've read, BTC can proffer great impact for a country's economy, and it’ll be able to benefit every citizen. Yes, the impact is always on a positive note if it were a legalized and used currency.

Being efficient with the nature resources like wood and stopping logging is sure a must for our world which is now "almost" destroyed, by digitalizing everything, we can keep all those trees stay in this earth rather than becoming crappy physical money and slowly destroying ourself, just I still wondering why majority of governments still now allow the usage of paper, they could simply banned it, aswell as paper money, and convert everything to digital.

Cryptocurrencies such as bitcoin has many good effects to the economy, let us start with the unemployment rate it could ease the problem of the community that having a difficult time finding a job because of lack of experience or unfitted position with bitcoin it can be easily implemented by government to the people who don't have jobs because it can be easy to learn thus with a good profit. Second is to the market if the government legalized the digital currency, and with its popping values and good characteristics many investors and businessman will provide services to the community because digital currency is well known today and it will be easy for them if they legalized it in terms of transactions etc. But the government sees it as a threat being in a cashless society will be more difficult it will attract criminals to do illegal works such as hacking, money laundering and illegal transactions.

Bitcoin are also known for giving chances a normal people to get and make there own money.And because of that, in a country where there was a high rates of unemployments, bitcoin helps them to decrease it.And as the rate of unemployment decreases, it is good for the economy of a country.

for me,it is good because of the taxes that they implement,that how hifh the value of it the higher tax that they get so the effect is good for the economy of one country.

Bitcoin has a big impact especially to its individual user. Those who are into bitcoin experience the positive impact of bitcoin. They experience financial freedom from bitcoin. They can earn without limits.
In the economy of government that bitcoin is legalized, the positive impact of bitcoin is it helps reduce poverty by providing a great source of income for those who are jobless.

Yeah bitcoins have direct relation with the enhancement of economic status of a country. The reason is they compel the government to impart taxes on the users of bitcoins. Along with giving multiple profits to users, bitcoins are alesimplement tax values to them so that the income can be equalized within a country. Thus, they play an important role for taking up the economical wealth of country.

It's true my friend!BTC has a lot of possible impact in economy  ,The main problem of people which is money and people who are unemployed. BTC can help people in the community by earning money without limits and for those people who are jobless or less income so it will provided by bitcoin. Money is the most important in our daily lives in order to survive and have a good lifestyle.We should appraised what bitcoin can do for the low stage of people to become a better status of life to make a wealthier elite.

I think it will do great for our economy but a disaster to our banks and payments. BTC will kill all those banks that we used, but it can make easy transaction to neighbor  countries so import and export will be made easily.

I would like to start in bad impact. It can be easily stolen without notice because it is through digital. There are a lot of phishing sites that wants to stole btc or alts without notice the difference.
Good impact. Btc helps more people and change life frog rags to riches. The amazing things that cannot be change in bitcoin good impact not only that, it have also a good impact to business growth.

i believe that bitcoin can make economy of a country grow because a lot of bussiness are entering the blockchain just like those ICOs, after they raised funds of course they will become just like a normal company and if a lot of ICO become successful it will open a lot of job opportunity to everyone and it is all thanks to the bitcoin.

Depends which country - very different answers for USA, China and N Korea!

Bitcoin in economy is so much effective due to their benefits ,it will considered as a number one source of income in a country because regsrding of the capabilities they have. This will be more interested if bitcoin accepts in the government and consider as a single currency in all over the world .It will improves our economy and changes the status in each individuals.

I think a bitcoin is the main currency for the backbone digitalization of world. Now everyone can understand its intensity

Bitcoin is another way of having an extra income. Unemployed citizens may have bitcoin and i believe it will be a big help to them especially when they have trust and patience. Bitcoin will help unemployed citizens to still have income even though they do not have a job. Also, bitcoin will help employed citizens to have more income which i think has a great impact to the economy of a country. The rate of poor will somehpw decrease.

It would uplift the economy of a country. people would have not to pay taxes and would get earnings not according to caste but work they

The possible impact bitcoin in the economy of our country maybe it has a good effect. Because if many people are earning bitcoin many people also are will be buy goods in our country which means the demand of our country will increase and it will increase our economy for a little bit.

If it's about the individual economy, BTC is very helpful and has a good impact on one's economy. I'm not sure if BTC has a good and baf impact for a country's economy. maybe if the BTC user is taxed, it will affect the economy of a country, but how to track it? whereas BTC is an anonymous transaction. If BTC has a good impact on the economy of a country, why do they preclude BTC?
Do you agree with me?  :)

bitcoin is used more for earning money on it than for regular exchange. In order to build an economy on crypto-currencies, it is necessary to change a lot in order to not lose their merits, they become more like traditional money.

Bitcoin, in its current form, can not become a substitute for traditional money and is not suitable for the role of the main currency for the world economy. Even if regulators surrender and accept bitcoin, deflation, and other factors, will hamper the development of the crypto-currency economy.

If the country has legalized Bitcoin definitely in the country Bitcoin will be taxed. And the impact is taxed would be very good for a country's economy. Bitcoin will be of great help to make the country more prosperous. In addition to a more prosperous country economy will be more prosperous society.

If it has been legalized then it will probably have a good impact on the economy of a country, that is, there will be investors who invest to a country. If it is still illegal, perhaps the government of a country has a concern that it will adversely affect the economy of a country. what if buble breaks occur?

In this case it decreases the economy of a country due to the decrease in taxes. It is providing facilities to people and people save their money in form of bitcoins rather than keeping their money in banks, which also cause tax to pay and bank charges may apply. Bitcoin decreases the tax amount by one side but by other side it is facilitating people and helping them to get rid of banks.

Digital encryption can attract a lot of foreign capital to the country.

Attract talented people, create jobs, increase the tax of the country!

Raise the national awareness!

Bitcoin can be an economic booster of a country.
Consider Japan for instance, who don't hesitate to embrace the technology and adds 0.3% to their country's GDP.
Hence, they are already a top progressive country but in the name of progress, they adapt and utilize it.

It can help make the economy to lift up. Since the purpose of bitcoin is helping millions of people earn big amount of money. It is life changer and it is for the betterment of a country's economy.as we all can see some countries who recognize bitcoin, they are better performer compared to some countrie who dont.

The impacts of Bitcoin in the Economy is very numerous, but to mention a few is that the Bitcoin users can be fully engaged in it and earn handsomely well if he actually knows what he is doing. It is also bold to say that since Bitcoinners can get well his standard of living through Bitcoin, there's that tendency of his assisting his community on some social amenities expected of Government. He can also employ the unemployed, etc. The only negative effect is just its being Decentralized nature where the Government is unable to control it, and rather give no support whatsoever to Bitcoin.

Of course it will be hard to know, but Bitcoin has a positive impact on every individual where people can invest some of their wealth to gain a profit in the future, which means Bitcoin has helped the world population, I think the use of Bitcoin will be Beneficial in terms of economy, Bitcoin means a very positive impact for the economy of a country.

Bitcoin can very much help in boosting the economy because it has a very high potential to increase in price in light of more and more adoption which will in turn help the economy. Also citizens can make a lot of money from buying and investing in bitcoin when they buy low and hold for the price to go up which is turn just adding to the economy.

I think Bitcoin has a great positive impact on the community and the economy since people are earning good amount of money from it, their lifestyles will change, the more things they can and will buy for their family and loved one. The more people will have a great source of income, then the bigger the contributions to the economy will be since they will be spending this money within the community.

Bitcoins evolved to break the economoy stability of the country that will adopt it because they are infected with scam and ponzi

People might have a big impact to be a good living for a good lifestyle because of bitcoin but  for affecting to government economy because of the new type of mode of generating income which is digital crypto currency, I think it is probably remain for a stable source of income by each  country not to be  suffered for what bitcoin's do for the people. 

Yes I agree with you about that little people work in office. Who would say no to time freedom. It is much better if we are in control of time most specially if we have love one like children to raise. Good salary income and doing the job at home. A better job opportunity. There's no need for transport to go to work.

I’m not really sure of that, but if I’m right, for every group of persons to benefit from a particular market, there will always be a group that loses for the others to win. So that means that if there are countries that are being favored by Bitcoin, there will always be countries that are losing or being affected negatively due to cryptocurrency.

Japan is among the early adopters, so it’s likely to favor them. Some people usually claim that Bitcoin will circulate wealth equally amongst people and countries, but that’s a lie. This is like a game, some people will have to lose for others to earn. Just like in a fight, you don’t expect both fighters to win, one will have to lose for the other to win.

It can make the economy up and increase its rate. it can give a good circulation of money, there will be equality because the money that circulates are being distributed to the society equally. Before, to those rich people are the money being circulated, but now even those who are in slums that have internet can be one of them.

Don't know much about it really as I am a newbie actually

Already a number of threads regarding btcs has been posted, and the most common answer is it will uplift the economy of a nation

There may be some sort of effects Bitcoin can affect ones country's economy. It may be a good one or a bad one and that effect is always dependable on how people behave and perceive using Bitcoin in their own personal use. Bitcoin can possibly affect ones economy in a good way if we are seeing that its usage brings up a progressive growth for the economy's sake. On the other hand, Bitcoin can affect on the bad way if it will bring out a negative effect which involves greediness and selfishness of people towards obtaining Bitcoin for their own sakes.

I don't think bitcoin has bad effect to the economy of a country, rather I can say that there is a negative because if many bank investors withraw their half of investment in a bank and put in bitcoin the income that will in and out from and to them will is not subject to the tax law but only for this. The advantage, it gives a chance to a jobless someone to have a work, in this case every income that goes into his pocket and use it to buy is a great help for the economy of his/her country if he/she is jobless this will be a great burden of government.

Bitcoin will never give employment to anybody since this is not own by government or a private business but it helps people to sustain their needs by having income in doing some Bitcoin  trading and the likes...
Sometime your salary is shot to buy new cloud to replace old ones and with the helps of Bitcoin trading you can have extra money also to go on your during day off...it helps on tourism factor.

It is clear that Bitcoin will have an impact on the economy of each country through commercial transactions that take place without government management. This means that the transaction activity will happen quickly and vigorously. At the same time, it significantly reduces the amount of tax paid to the state of these activities. Financial and banking systems will also face many difficulties in their operations. And Blockchain technology will play an important role in financial transactions.

bitcoin has a great impact on the economy of the country because it reduces unemployment, creates wealth and it bridge the gap between the poor and the rich. those that have no hope of sponsorship are now in school because of bitcoin

Bitcoins can affect the economy of a country on either good or bad way because most of the people today in the corporate world are planning to focus on trading in the market when they knew about cryptocurrency and that is the reason why government are scared if people will just focus on earning cryptocurrency more than working on the corporate world.

     According to my concept the possible impact of Bitcoin of a country will be positive Bitcoin is the prominent cryptocurrency which is operated through internet and it is useful to the global community for their investment and day trading . Bitcoin is a strong currency that will not effect inflation of a country in such condition Bitcoin can be utilized as an alternative to withstand the economic recession . If we look to the past we can find that Bitcoin has been useful for many countries like Greece,Brazil,Japan etc ;faced  recession Bitcoin helped to get relief from the poor economic situation.

I think the impact of BTC in the economy of the country is the unemployment is reduced. Many people choose to work here because they can spend time with family in their homes during activities and I think working on crypto gives more profit than people working in the office. I like it.

One of the good impacts that bitcoin can have in the economy is to have a currency that is not printed at will by the government, that has damaged the world economy and governments have no intention to stop, but a bad aspect that bitcoin has is that not everyone will have access to it and like always the poorest members of the society are the ones that are left out of this technological and economic revolution.

Bitcoin will reorganize the structure of banks and financial institutions and will make transactions more convenient.It will also for safety purposes because all transactions are digitally recorded.

Bitcoin helps people especially those who are unemployed like housewife who wants to have additional income and because of bitcoin they can earn and become financially stable which in return helps the ecomic growth of their country if people economic status improve then the economic status of a country also improves. ;D ;D

one of the importnce of bitcoin to an economy is that it does not allow for embelzlement of public funds, all resources are evenly accountable for, movement of funds can easily be tracked from one account to another, this is not possible with fiat currency, the negative impact is that if not regulated by government, then it may be possible to tax bitcoin transactions.

I think BTC or any other crytpo currencies just gives people a chance to esrn more than what they already got. It will also give them a prwctice on how to trade in a much bigger secured market. Although the down side is, fiat will be siphoned off of an economy to crypto currency and they will not be taxed on its earnings.

It will bring financial independence as well it will reduce unemployment and further more the monopoly will also affected in these countries The transaction process will become very faster  so the money will circulate in country.

Bitcoin's impact to a country's economy status is just simple. BOOSTING it just like what other countries claim when they adopt the blockchain technology. Thus, the adoption rate of cryptocurrencies on that country will also rise as the domino effect will take place. 

A lot of bussiness are entering the blockchain just like those ICOs, after they raised funds of course they will become just like a normal company and if a lot of ICO become successful it will open a lot of job opportunity to everyone and it is all thanks to the bitcoin.

I see now, those democratic government implements bitcoin with minimal requirements needed to their investors while those authoritarian form of government is having a hard time fixing the regulations and rules to be implemented. To summarized, bitcoin is simply a technology and it depends on how people and government use it will determine its effect to the economy.

it would help lessen or decrease the unemployment rate of a country due to the fact that many are self-employed by bitcoin,itself, but it would be hard to track those who use bitcoin there only way is to the transactions of bank.

It has a big impact when the government support the bitcoin because we all know that the bitcoin is very powerful. If the government support the bitcoin the economy of that country will rises because the people of that country having a job or work so the economy rises because no one can experience poverty in that country.

The good thing about Bitcoin is that makes transaction easier, especially when it comes to sending money from one country to another, instead of the normal slow procedures you will go through in banks which will waste your time for the whole day you just send it with your phone in few minutes.

There are also other advantages of Bitcoin and as for the disadvantage, I think the number one that we should take note of is money laundering and that’s not a new thing cause it have been discussed several times online on how people use Bitcoin for money laundering.

Bitcoin is a currency which runs on a blockchain network it doesn't need a third party or bank like fiat currency that will forever depend on it. With the loss of third parties/banks then it's clear there will no longer be any costs to be incurred in each transaction. In this thing a citizen will benefit greatly.

Till date crypto investment is not good for the economy of a country, because the people of a specific country put their money outside their country. It means that they are sending their money outside their country. It will affect their economy badly. Easy transactions, throughout the world use and other benefits of cryptocurrency are not helpful for the economy of a country.

I'd really think that if a country is solely crypto currency dependent, that country would streamline it's transactions better and there would beba better transparency in and amongst all the users precenting laundering. The downside is that the government wouldn't be abke to manipulate it's currency for theur own benefit.

In my opinion bitcoin is only good for people and not for the country, because people are withdrawing their money from banks and putting in crypto which is not good for the economy of a country. If they have no money in their banks, they will face financial problems and the standard of lining of the people will also effect. I don’t know how one can say that bitcoin is good for the economy of a country.

The good thing about Bitcoin is that it crosses territorial borders. In other words, when a business is open to the entire world market because of Bitcoin, or when a currency travels all over the world smoothly and easily, it definitely adds a vibrant characteristic to the economy. And since Bitcoin is borderless, everyone could use it easily and quickly over the internet to buy stuff from any country in the world. That makes a better economy I guess.

Bitcoin is functioning as currency and currency have both positive and negative impacts like in the case of crypto currencies many of the bitcoin users is using this currency for payments of different products and services as well and bitcoin is good for the economy like those who are unemployed but they have skill of graphics and other products then through this platform they can make money.

The interaction between Bitcoin and the crypto market remains a tight link. In today's economy, the strongest impact with bitcoin is the news, rumors of bitcoin existence and its future.

This is simple yet a impormative one. It it really true that it will help.the economy to rise if and only if it is used for good things and on vice versa, having negative activities concerning cryptocurrency or bitcoin will probably affect the economy negatively or otherwise no effect at all.

I think the economic impact that occurs if someone uses bitcoin as one to trade in several countries may make the transaction safer and more comfortable but has a very high risk because the price could collapse when it is being used.

there were no clear result of the cryptocurrency in the world economy or economy of a country there are lots of things to happen since cryptocurrency is in the middle of development for sure it will great affect the economy of a county.

It is difficult to speculate about this, because bitcoin has more to do with individuals than with larger collectives such as a nation, which by its very nature has the function of centralizing decision-making and regulations, something that is against the very nature of bitcoin.

However, I believe that due to its great potential, bitcoin is demonstrating enough capacity to contribute to a fairer distribution of wealth, empowering individuals who have practically been able to build wealth from nothing, which has generated direct and indirect benfits to the community.

Positive impacts for a country are: Efficiency. With the efficiency of managing a policy, it will save costs, time and energy. With the technology used by bitcoin, blockchain, it will make financial transparency so that it cannot be corrupted.

Cryptocurrencies are volatile in nature and fluctuate rapidly and an impact on economy is always possible when government to legalize one of them, bitcoin for example, and become a part of their economy. If the price of the bitcoin go up, economy would reaps benefits from this uptrend but it might affect it negatively if the bitcoin go down and stayed bearish for some months. Economists must find some effective ways on how to deal with bitcoin's volatlity to lessen some possible negative impacts if bitcoin price crashes.

I believe that bitcoin will eventually be used as a way to transfer greater power to individuals rather than to nations or corporations, so the simple fact that individuals enjoy a freer and fairer economy can contribute in a way remarkable to improve the quality of life of a country, that is, the benefits for the country are in a rather indirect way.

Your logic is the same as mine, when a businessman converts their local currency to usd it will certainly affect the local currency and certainly the local currency will weaken? what if it happens to bitcoin, if a lot of people are converting their money to bitcoin, of course it will affect the rate of their currency? of course it will affect economics in that country?

BTC is really usable and helpful to the economy of the country because people have no problem regarding financial due to the easiest way of doing business of bitcoin through the help of high-technology. Less hassle less transportation less stress to all people, but of course it needs a lot of efforts and patience because we are only doing our own self to operate self investment if virtual currency.

Actually btc have very big potential to improve country economy, online shop will be able to save more profit if they use bitcoin. Use paypal is not good for them because there are many restrictions and limitations. country which has so many people who still unbanked, bitcoin can be a good solutions for their citizens Transactions.

Cryptocurrency creates a globalized economy while local economies focus on their markets using their currency.

Starting from those 2 different base points, you can think about all the consequences of how the different roads develop.

Best,
Borja

There is a positive micro impact of bitcoin in the economy today as a whole because the people engage in bitcoin is too small compare to our population. Those who engage in bitcoin creates jobs and income.

I am believe if government will have good impact if they regulate bitcoin for payment. More tourist will come to country because tourist prefer carrying their bitcoin than paper money. Its more flexible and its much secure when we travel with bitcoin on our e-wallet

The current position of Bitcoin is still very small in the global financial position. Usually it can only affect some small economies. But because these countries are usually behind, maybe they don't have a popular smartphone, so cryptocurrency payments are far away for them.

I think the best possible impact is the ultimate boom of online services and most especially the online stores. It's where you can feel the most convenience if you are going to use bitcoin and other altcoins. And with that will also result on many transactions that will also contribute to taxes that are included on the products.

I think that it would be a great idea for many countries to legalize bitcoin and thus bitcoin could help many countries develop their economies, because bitcoin technologies are very helpful in developing various necessary areas for each person.

Each online store will get a profit if the price of bitcoin increases, bitcoin is different from fiat currency which only has a small volatility even rarely. When bitcoin has increased they can immediately exchange to money fiat, so as every online shop can buy goods using money fiat with large quantities. However, if the price of bitcoin decreases, they won't get profit from this condition, even more everyone can seek a way by exchanging money fiat against bitcoin with a little fiat money and then getting a lot of bitcoin so they can buy as many items as they want. Each merchant will thinking a long when they receive payments with bitcoin if the price of bitcoin is still volatile.

Actually, if a country implements a policy of using bitcoin, it is clearly more profitable because it reduces inefficiencies, which results in savings in the use of budget, time and labor. This can happen because the blockchain is applied systemically. Corruption can no longer be done, because servers are in many areas so corruption is easily detected.

At the moment bitcoin is too small to have any kind of significant impact over the economy of most countries, this could change in the future but the question is how long this could remain to be the case? Because I find very difficult to believe that bitcoin can become a big influence in a country without that country trying to control it or to ban it because of it.

Like individuals, every single business would get equal benefit from bitcoin as well. Like in restaurants and shopping malls and every business entity if accepts bitcoin, it will likely to get huge profits.

It all depends on what kind of demand bitcoin will have in this country, also in what areas it will be used and whether the government of this country will support bitcoin to promote its economy to the new best level for them. I believe that in rich and developed countries, there will be nothing bad from bitcoin, on the contrary, additional money will be received from taxes, for example, on economic development, but in countries where everything is bad, perhaps bitcoin can change something.

I think the biggest impact is that it goves the peoplethe power to purchade again using the profits they gained from investing in crypto currency. With crypto currency as a viable investment, people coyod be saved if and when a msrket collapse happen since crypto currency is working independently from the stock market.

the impact of bitcoin on the economy of a country must be different, if in Japan and China, maybe bitcoin would have a good impact on their economy, but not necessarily in other countries that maybe not know very well about bitcoin. in Indonesia bitcoin does not have any impact on the economy, because only a few people understand about bitcoin.

We need to admit that what you are saying is not a reality right now, that is something that we hope it will happen in the future but it is not happening at this moment, the only businesses that are obtaining profits with cryptocurrencies are those that are related to this market, every single other business like a restaurant is probably going to have a few sales in the whole year and that is not enough to justify to accept bitcoin as a way of payment.

You are right, I also think like you, I also spend my time working here, because working to earn income from crypto is of course already getting a decent income that can meet needs.

For me, yes this is a real power of bitcoin. This never lets its users down even it itself going down in deep. People always make good earning from bitcoin as they buy bitcoin when prices are down.

if the impact is likely to have a positive impact and there are also negative impacts that will be obtained in general, the positive impact is the possibility that the economy will develop rapidly and the negative impact of inflation will certainly be on the local currency of course

is absolutely true but for yesterday yesterday bitcoin impact in a country that has legalized it's huge because bitcoin was very beneficial for the Community to earn a great income and help the economy as well

In my opinion, bitcoin can give good impact for tourism sector. If government regulating bitcoin for payment, i am believe tourist prefer carrying cryptocurrency because its more secure and safe than carrying paper money.

The possible impact of bitcoin to the economy  of a country is the more investors will invest to the business which deals with cryptocurrency, in using cryptos all possible transaction and payments are made digitally and no need for cash transactions,

we are facing a deadly crisis in venezuela, and in Argentina for the same path, I hope blockchain and bitcoin can help these people!

if the country is able to regulate the level of security and control it, I think the country's economy can be helped by legalizing bitcoin. Bitcoin is very useful and helps someone's life, so it is very good for the country or someone who is in a financial crisis.