Bitcoin Forum

now there are some countries that began to issue a ban on the use of bitcoin, is there any influence on the country and of course its users in economic value?

....

When a retail website like amazon.com goes down. There are some who claim this can represent millions in lost revenue. The same principle could apply to currency support. If there is a high demand for bitcoin and alts which are banned. That demand often can't be replaced. Its based on value and utility. Banning bitcoin is like shutting down the golden gate bridge or something people need and rely on which can't easily be replaced. A ban on crypto definitely represents negative impact upon the economy of a nation. I don't think there is anyone in the world who will argue with that. The only question is how much of a negative impact does a crypto ban represent.

There is also a side issue where independence movements across the world are likely to embrace bitcoin and crypto currencies to gain further independence from central banks. Brexit, the catalan independence movement and similar social reformation occurring around the world could embrace bitcoin and crypto. These bans could become polarized in the sense that independence movements may be likely to legalized and support crypto while those who oppose independence may move to ban crypto as they are able.

Also I will add that some countries may think that it is a good idea to ban those currencies now instead of later, bitcoin right now does not represent a significant amount of risk since not many people are using it, but once that happens banning bitcoin will be more difficult since the governments themselves will be dependent on the revenues generated by this industry so to me it seems that those countries could ban bitcoin preventively.

Yes definitely there is an economic effect to the country and the bitcoin users because users are given the chance to earn to improve their economic situation. Since people have earnings they can buy what they need for their everyday living and the taxes from the goods they buy will go to the government so both have good effects.

Yes, Bitcoin greatly affects the economies of its users, making them more financially secure, but not with some countries that consider Bitcoin as a threat to their economic stability, as evidenced by some countries that prohibit the use of Bitcoin. The difference is that we as individual Bitcoin users feel financially viable by Bitcoin but the country's view of the impact of Bitcoin is more universal.

I think there is no effect on economic value if bitcoin will be banned due to its anonimity and decentralized transactions in which no effect on economy. Bitcoin users are like ghost in the economy which works even without being noticed by some people in the community.

Today there are countries that are beginning to make a bitcoin issue to make a ban regulation. Do have influence in our country and really have an issue on economic value and the most important to certain and many counties to ban it from ICO for fear, for their money to multiply any where.

That's not a new scenario in the world of crypto since some country is banning crypto and recently, France. On the other hand, South Korea bans crypto markets for tax evasion. To sum it up, these countries are afraid that cryptos can cripple their economic growth and can be use against them as cryptos can be used to fund terrorism and another illicit acts.

They are afraid about the former not the latter, they are going to use the excuse of crime to make people do as they wish the same way they have done for years, but the real reason is they are afraid that people will one day wake up and realize the scam economy in which they live, where the rich get richer by doing nothing while they have to waste their lives just to earn a few dollars.

Yes i think so, because it involves money and it involves business related activities, surely this will affect the economy and implementing ban on it by the government would only mean that something interesting is really happening affecting the community. As we have all known it is global and therefore could also globally impact the whole system of bitcoins. Should there be any change I think generally it will likewise affect the whole. I heard some had gone panic selling of bitcoins after having heard of bitcoins being or about to be banned in their country.

Many governments are viewing Bitcoin and cryptocurrency in general with suspicious eyes practically because this is something they can't control fully and one that many don't actually understand. Some leaders when faced with this situation would just choose to ban the whole thing rather than go into trouble of dealing with it later. On the other hand, as shown by Japan, Bitcoin can be an instrument for economic viability.

Yes if the country with a lot of users being banned then there will be an impact to the user economics, some of yhem even got a full time job in crypto, but the country wont be affected too much, bitcoin doesnt give any advantage to the country because crypto currenices is not regulated

well right now we have a pretty good example which you can always refer to. and that is Japan.

adopting bitcoin as a currency meant creation of a lot of new jobs. and these jobs require a lot of employees. and economically speaking that is a big deal in any country. so you can imagine the positive effects.

banning on the other hand can mean none of these jobs can be created and at the same time people will have issues investing in bitcoin and possibly others because you can not prevent them from it anyways, and that can mean exiting of money from the country. both of these are terrible for economy of said country.

Yes there will be evident effect especially on bitcoin user. Great impact will be felt by the individual user as it can help them to be financially stable, however other countries' would not value it if its only an individual who'd benefit from it. Economist would look at its benefit as a whole and especially for the country,  unfortunately some countries sees it as a threat and as a result ban it.

Modern financial system is not quite perfect.The threat of inflation always exists. The Treasury can produce a certain amount of money. After some time these money must be repaid with interest. And where to get these percentages. Again you need to take out a loan, and again returned, with interest. And so on to infinity. This leads to inflation and depreciation of money. In this situation, the cryptocurrency has potential. So bitcoin may become the basis for the formation of a new monetary system. It will have a positive impact on the economy of the state.

The effect is sure, and numerous nations may have a prohibition on ICO for expect that their cash will stream somewhere else.

Exactly, because of the nonregulated cryptocurrencies, the effect on the economy cannot be measured. If the country of the resident and the holder of the Bitcoin is bigger then the slight changes in the economic system can be spotted. Even if the Bitcoin is avoiding the tax system in some countries big percent of the investors are paying the taxes when making transfers to the FIAT. This is actually positively influencing the economy of the specific country. Money that is reported has flown out of nowhere and the government is rubbing their hands because of the unbalanced system that regulates the tax income and outcome from the cryptocurrencies.

i think maybe just small effect. too many people still not know about bitcoin. and this can not disrupt a government

It depends on the country and how large the economy of the said country is. There are some countries where Bitcoin would be a benefit but for a fair amount of them, there is little that would be influenced on the national level. I'd be more convinced to say that all the influence of Bitcoin is going to be on the personal level and there will be little beyond maybe a family's worth of people influenced by one person. There won't be any significant national consequences beyond maybe moving a little more money through the borders, and that's not something that can be easily measured if the people don't exchange their Bitcoin into a measurable metric.

The main problem why countries(their governments) ban Bitcoin because they can't manipulate with money from it. There is a lot of other reasons why countries ban cryptocurrencies. But can that influence the country? I don't think so. Countries are based on their local currency and gold, not on Bitcoin.

Depends on the level of the country's adoption. If it's on the level of japan, it has been incorporated enough to influence government policies and ultimately, their economy. Otherwise, doing crypto would just be beneficial only to the individual.

Before the ban issue, my people already skeptic about bitcoin since my government decide to forbid bitcoin usage.
Of course not all of my people are afraid but when they heard about ban issue, it affect my local exchange value quite much as panic sell usually happen

Yeah it is involve the money and that is revolve around the world that could really affect the economic status of a country.
If they are panic selling it's because they heard about the bubble, for my only opinion.

bans issued by some countries associated with bitcoin and crypto. does have a considerable impact. especially with the decline in bitcoin prices. maybe the economic system that moved in the field of crypto became a little shaky in this regard. but in a few weeks it will return to normal

Bitcoin is the perfect tool to improve the economical situation in the country, where it is used. Unfortunately governments of several states are afraid that BTC users will damage their system and avoid taxes. Countries where Bitcoin is used have the better level of life.

Yes every nation should learn a lesson from Japan and legalize it instead of trying to ban it and struggling to do so. The fact is that bitcoin could not be banned unless Internet gets banned completely and its impossible.Some countries are even confused to decide about bitcoin whether it is an asset or currency or a commodity. But most of the countries find it as a threat to their taxing revenues.

Bitcoin greatly affects the user economy for better, bitcoin can also be used to invest or store their wealth without having to pay taxes. Therefore there are some countries that prohibit bitcoin.

My country has banned bitcoin as payment method but we can keep them like stock it's not against the rules,  many people already selling their bitcoins to cash but it does not have a big impact on bitcoin prices because the bitcoin volume in our exchanger is small compared to the outside market, but the most dangerous it's a lot of countries together banning bitcoin, well it will definitely have a big impact on bitcoin prices, as we can see a few weeks ago and it was just an issue.

Offcourse for some people the only way to earn is Bitcoins that's the only thing that they are dependent on and when their means of earning is cut off they become unemployed which reduces the net GDP of that country.
It's off course affecting people and the government in a negative way .
Yet the main reason of banning Bitcoins always is that it's unstable and the banks fears that they might loose money and the people too thus they decide to ban Bitcoins, but people can always choose some other way and always stand against the government

yes i think there is a great effect on the economy of a country, just like dollar reserve, it has a major role for a country to gain stability and economic growth. if bitcoin is widely accepted by a certain country, it will definitely lessen poverty and the money reserves will circulate more due to exchange, microfinancing at its best. more people will have more buying power so trading will zoom up, more investors, more demand, more earning.

Recently, the issue of banning bitcoin take a massive impact to the economy all over the world. Yep actually  it make most of us feel concerned a lot about the price of bitcoin and other coins. As far as we know that these day bitcoin or crypto currencies is getting more and more popular, which make many people pay attention on it. According the the new, through the ban of some countries from bitcoin, most of us loss a significant benefits. The ban is really affect to the bitcoin market, which makes bitcoin’s price fluctuate in disnormal way.

It does not make sense to ban bitcoin in one country. People will find ways around if the value is high for having it.

Why will it create panic? In order to transfer the bitcoin to another exchange just press a few buttons on the computer. This is a problem of the exchange but for the whole bitcoin community is not a problem. It seems to me that the prohibition of bitcoin in one country will trigger a withdrawal of capital from the country. If you have the opportunity to obtain income then people will always look for the opportunity. For example, to accumulate coins on the exchange outside the jurisdiction of your country and wait for regime change. The more people the less chances to stay in power for another term.

What do you mean? Is that the economic value or market value of bitcoin or not ? If yes, well it has a big effect on it. Since users or bitcoin users will serve as an instrument to promote bitcoin and to get or develop new investors to the success of bitcoin. And sometimes bitcoin users is the one who are investing on bitcoin. So if we think that in some countries bitcoin will ban, what happen to the market value of bitcoin?? In that case bitcoin will fall, because there are some bitcoin users that cannot access bitcoin because it is already banned in their countries so that only few investors will develop and it can caused to fall the market value of bitcoin.

Many countries have already banned bitcoin and cryptocurrencies including ICOs. Every country has its own rules and regulation and it's up for them to impose such rules and regulation to cryptocurrencies. Since cryptos can boost one's economic growth, having it banned can cripple its momentum of progress.

For me I don't see economic effect. Maybe the effect will only happen if the government will push thru what they want to take control Bitcoin.

Definitely there could be a negative effect on the economy if my country will issue a banned to cryptocurrency. As far as I know, people here are converting their coins into a fiat money to sustain their financial needs, so the money they earn from crypto will circulate to the local economy at certain level. If the government will cut that flow, it could lessen the flow of money in the local economy. 

BTC has an impact on some countries' economies!

Those countries that prohibit BTC can prevent domestic funds from going abroad!

Such domestic funds can be used to develop the domestic economy!

Maybe the impact for the country is very small, but for bitcoin users who will be affected, they will lose the source of income from bitcoin.

Considering, that bitcoin users are only a small part of the population, i dont think it will make a significant impact. Of course this is under the assumption that we're speaking of a regular country who has a fairly strong fiat currency. But i think, in the long long looong run, it could affect the country negatively. If they suppress the growth of bitcoin in their country, they could also be potentially hindering technological development. If blockchain is truly the future, then they'll leave their cyberspace infrastructures exposed. 

Obviously there are effects on bitcoin users, as many people rely on this bitcoin, they average their economic needs from bitcoin results, especially now there is a problem that the government will ban all these virtual currency transactions because the government considers these transactions free and uncontrollable, fearful misused by the user.

That's what i'm thinking tho! The Blockchain has a bright future. Countries are developing in some aspect especially in technology field and has potentially hindering in crypto space, Financial institution are into bitcoin right now and willing to use it to create token and develop technology in there countries this will effect the growth of the community.

People who used Bitcoin could somehow evade the tax system in terms of earning money but not as a whole becasue all imtes and reatsil they would buy as a part of our daily needs or luxuries have a tax and when we but things that is the time where we could actually help the economy of our country.

Absolutely, there is economic effect for the country and also to the users of bitcoin because what may earned to this digital business work (referring to bounty campaign) and etc. It would definately be spend it to merchants were all our needs in the family are concern. This things already is part of the economic growth for the country becuase every purchase of product has its tax percentage value. So the more you buy product the more tax will be collected just like in my country Philippines having 12 percentage of VAT(Value added Tax).

it can have both positive and negative effects. For example so many people in my country invested into bitconnect and when it crashed their investment just gone and now they can`t spend money and now governments has less money in the country. And when my friend earn they go and spend it in shops and buy things which results into rising the amount of dollars in market turnover.

The effect would be minimal because bitcoin and other cryptocurrencies are not yet fully use in many countries around the world. The use of bitcoin in business and financial sectors are still low because it is not yet fully adopted in mainstream.The most affected are the individual users and investors of bitcoin but they are only comprised of small segment in the society to make an effect on economy.

You know Bitcoins provide a job for many .. literally!
And when you take away someone's job ..then it would offcourse prove to be detrimental for the whole country.
The economic value will go down, the development will distress and it will get worse for the upcoming years because every country is now adopting Bitcoins and other cryptocurrencies and they are loosing out on the potential miners .. thus it's bad for a countries economic development.

The supposedly ban or regulation imposed by some countries on cryptocurrency absolutely affected bitcoin in itself. The said regulation specially on South Korea just make some people on a panic mode. The value of bitcoin depreciate. Absolutely it have some effect on the user of bitcoin and to bitcoin itself.

Bitcoin has a great influence on the economic development of countries because it directly affects the way financial management of each country using bitcoin. I would like countries around the world to accept the use of bitcoin to take advantage of the great features of bitcoin.

For me, bitcoin users are the source for all of it because it was clear that the purpose of bitcoin and other altcoins was created to help us attained our financial freedom to help us move our money and raised it freely without having intervention from government and other related parties. But many users are fully capable of such as developing coins to tricked or scammed somebody, doing illegal business in bitcoin because the mere fact it is decentralized makes hard for authorities to traced or tracked them.

Think of it, what kind of payment we are using in bitcoin isn't  money? We are not getting it for free unless we got it from the services we have rendered. So the effect is there is an imbalance when it comes to calculating cash as cash is one of the basis in measuring Economy.

Yes many jobless people become employees and earning money in bitcoins. one more thing is some regular employees also quit their job and started to work for bitcoin. if it continues then surely the country economic value will come down.

It must have an economic impact because every country has different economic standards.

I believe there is a slight economic impact if some government banned Bitcoin or regulate BItcoin heavily-sided to the government. I'm sure despite the nature of decentralized from cryptocurrencies scene. There is not enough power to make all the people to use cryptocurrencies. I'm sure many people still chose a centralized economic instead of decentralized economics.

That's really they want mostly to the government in some countries to have regulate crypto currencies in order to pay taxes but they have nothing to do because cyrpto's are decentralized currency, some are banning but their are good countries who embraced blockchain technology through crypto's. Then it is really effect to the economic if their countries declared banning or prohibited bitcoin the users are directly effected follows by economic effect.

No doubt we are using our capital to invest in bitcoin and without money you can’t be able to invest but mate we can use bitcoin without money we well. If you will join the signatures campaign you will be able to generate money without investing your saved capital as it will get you earn enough money that you will be able to invest in bitcoin. I am bitcoin user and I am making high profit in bitcoin, as I use signature campaign I am saving my bitcoin salary and now I am planning to invest in future so it is the story of many people today, in this way the effect of bitcoin on the economy is very good according to me it is all profit.

My view on this is yes, Bitcoin involves business and financial activities that will surely have an effect on the countries economy. Most of the governments are aware of the economic benefits that Bitcoin can give but they fear that it can also be used against them, we can't deny the fact that Bitcoin can also be used in illegal activities and will be untraceable. That is why some counrties are banning them while the others would just want to regulate them because they can't let its benefits just pass them by.
 

It will depend if that country has a considerable amount of Bitcoin owners particularly to the ones earning it. But I don't think that is the main problem as I don't see a lot of countries where Bitcoin is being banned, all we have up to know is misinformation. Countries like China and India almost always have news about banning Bitcoin completely which isn't true. Some countries like India only ban Bitcoin as a mode of payment but other things such as mining and trading are not, with the ability to earn through cryptocurrency I don't think it will affect the economy of a country in a bad way.

bitcoin will greatly affect the economy of a country because bitcoin is a decentralized virtual currency and there is no control of any country. so there will be no cheating to be made from some countries that will sacrifice a country for the benefit of certain countries. the mechanisms that exist in the bitcoinsangatlah open and transparent so I think if bitcoin will become the world's currency this will greatly affect the economic changes of each country for the better.

Of course BTC affterct economies, and governments definitely lose from not accepting it.

Those countries will fall behind on a key piece of tech and will be scrambling to catch up in twenty years time.

It's a bit like Genetically Modified foods. The EU banned it out of sentiment. But the research coming out now shows it is perfectly safe (they now have 30 years of data) and the Americans are the world leaders in the tech. The Europeans are thinking of unbanning it, but it's too late for their biochemists to catch up.

Bitcoin will make a big difference in the revenue of the countries because there is no perfect way het available to tax the cryotocurrency users so the users are enjoying more profits that is the reason governments are trying to ban and regulate it.

if for developed countries and have legalized bitcoin like china, japan and america seems to make condition of their country coffin to be developed and very influential in its financial condition. but for countries that still prohibit the circulation of bitcoin, bitcoin will not have any effect in the country.

For me, I think there is a possibility that there is an effect in the economic status of the country and in the bitcoin user. If that country have a lot of bitcoin users, it means there is a small number of people who are unemployed because they have a source of income to sustain their financial needs and to support and help their family. Bitcoin can sustain the needs and wants of the bitcoin user, by this, bitcoin user can buy anything they need and want. In every item that they were buying there is a corresponding taxes that they need to pay it means they have a great help to contribute a positive effect to raise the economy of their country. If the country have a lot of bitcoin user there is a possibility that the country can grow continously and become stable. To make these things possible to happen, the country must also trust the bitcoin and support the bitcoin because there is a lot of country now that banned the bitcoin because they cant see the positive effect of bitcoin to their country.

There is nothing to deny in this that crypto currencies can surely contribute a major role in making the economic condition of any particular country far better than its present condition. The thing is there are investors who are investing in bitcoin and are thus contributing in making the economic condition better but still that contribution is not that much sufficient and the governments need to think over it for better economy.

Definitely there is a big effect of bitcoin to the users and the countrys economy as well. Because as long as there are lot of people who are engage in bitcoin they are given a chance to earn and sustain the daily needs. They can buy things what they need and what they wanted. Out from the commodities that they buy the revenue will go to the government and its a big help in building a nation in promoting projects to some certain areas of the country.

Yes ofcourse there will be an impact on the users and as well as the country too. better to clear off your stock before your country too does it

NO there will not be any eceonomic effect on btcs as if one leaves the ecosystem then the other one will take its place in the ecosystem

I believe that there is a little effect in economy where there are bitcoin users because it may help some people with no job to earn for their living  and these may also affect the problem regarding poverty.

First, the users will suffer as the effect of total ban begins.
Economic status of the people involved in crypto will be affected dramatically including the country's economic status as a whole.
And i think people will do a way to continue doing crypto despite the ban because there are still countries who legalize the use of cryptos.

It affects the bitcoin users mainly if there ban in their country because bitcoin is helping lot of people to earn money but if they ban it they can't trade it so it is revenue loss or the inestors but it will also affect the country's economy since users will pay taxes to their earnings so it will cut out if they ban it.But mostly users will suffers than the country.

Yeah, there are like 10 countries which shorted the use of crypto currencies or admitted it as illegal at all. I think it brings negative effect on the country's economy. People in those countries, which stay friendly or simply clam to crypto currencies, have much more money in hands; that means that they spend more in their usual life and that fact moves the economy as inside of the country as abroad, cause of people of nowadays became more free and borderless in the case of their shopping and spending money in general.

If bitcoin and other crypto currencies were banned in a certain country that supports it, there will be a lot of changes that might happen. First in the economy. It may slow down or stop developing or it will go back to normal. Then to the people, they will have less capability to earn their own money especially the poor people.

Actually I really believe that if the people of country become rich then there will be a great change in economic problem of one country. I mean if the people use bitcoin then they will become rich because of bitcoin they will not already needed the help of the government.

Bitcoin has no special impact on the economy of the state. Because it does not have the status of a traditional currency. To buy something with bitcoins you need to transfer it into Fiat N this stage, the cryptocurrency supports Fiat money. This allows you to increase the flow of Fiat money in the state budget. If the cryptocurrency were recognized as a traditional currency, there would be a reverse process. Would the outflow of Fiat. This would be detrimental to the state Treasury.

Hope there is an effect because then only peopl will get to know how unsafe and unreliable the bitcoins are :)

Not all the countries are doing so and for that reason its structure is just as it was before so you need not to worry about btcs

You're right. There are now quite a few countries that have banned bitcoins and other coins. This affects quite a lot of altcoin. However, it only affects ICO projects because it makes them more difficult to implement. As for bitcoins, they are almost impossible to die. So even if it is forbidden, it can only reduce the price of bitcoin.

All countries that strictly prohibit bitcoin will inevitably affect their own countries as well as their own communities in the crypto world, will have a huge impact on the economy of society and experience a very extreme decline, for me the country will not care for all of it.

Yes it has negative effects on both sides of course. Banning crypto in a certain country makes online payments inconvenient, people lose income and government loses revenue for every taxes paid by crypto enthusiasts upon withdrawal of funds.

Probably yes, both of the country and bitcoin users can experience a negative effect for banning crypto trading or investing in the country. Because in the country's economy the virtual or digital transaction will be drop down and as well as the innovation of technology in their place. While it may have a also a large impact for the bitcoin users because, we all know when the bitcoin came, it lessen the population of unemployment rate. If this will be push through, the banning of crypto it may fluctuate the market of it, but nevertheless it is still a decentralized currency.

Yes many talks going on many of the countries will make a ban for bitcoin not in serious move but some talks going on bitcoin but the it not possible soon so the investors should not panic and not sell you bitcoin.

I also agree with you. Bitcoin and other coins are limited, both of which price and demand are more. If the crypto world is destroyed,If the cryptosystem is destroyed then the economy will have negative effects.Now many media and governments have begun to ban Bitcoin.Recent countries, including France and South Korea, have banned crypto.For this reason, other countries are concerned that the crypto may destroy their economy and may go against them . Many people use crypto for illegal purposes. But they do not understand it, Bitcoin economy greatly affect its users.

I also wonder about this. Do injecting a lot of cash in a country without contributing to the GDP affect it's economy?

This has been an old news and this makes short effect for bitcoin market only. Since bitcoin is decentralized and no country or people has control over it, they can ban it but they cant definitely stop it. Bitcoin will go on with or without any intervention of the government. he truth is that the only way a government can do Is to regulate or to just ban it. Most country who bans it are those government who see I as at threat and see it as something not really beneficial for them.

We see the case of China bans bitcoin. Many already know how good the country's economy. It seems the government is worried if one day bitcoin is not worth anymore then the country will also participate in losses because in China there is the largest bitcoin market. if viewed from the user's individual point of view, it is clear that bitcoin affects the individual economy. many already feel the benefits and advantages of "playing" bitcoin.

It will only affect the people who are using bitcoin but for the overall market like the economy of the whole country, it will not have any affect because bitcoin is not on their economy side and it is not being use like the other market like the stock market and more so it will not give any loss effect to the economic state but only to those bitcoin users.

Yeah, that's what's happening now there are negative effects on other countries about the CryptoCurrency and they banned bitcoin. And also there's a good effects on economy in the other countries that using bitcoin.

There are a lot of positive benefits of bitcoins in my country:

1) A lot of people here are unemployed. I will say more than 50% of the educated youth is unemployed. Even most of the remaining people are underemployed, they are paid very less for the work they do. If bitcoin is allowed here, people could make some money with little investment per month.

2) Another thing is that as people earn more profit with bitcoins, they will also pay more tax. Revenue for government will thus increase rapidly which can be used for betterment of poor people.

Many times bitcoin is banned by some countries, it does have an effect like bitcoin value down and so on, but it does not last long, or it may just be an issue in the end they can not block the bitcoin to continue popular

They can decide if they wish to continue the ban on their countries. But they can't stop those people who are continuing to use bitcoin. And the influence to that country is really big, what if there is/are people there who are holding a lot of bitcoin on hold and they decided to ban bitcoin? The profit that personalities will get from that big amount of bitcoin will contribute to the tax of the country but because they banned bitcoin. It's either they will evade tax or other countries will benefit their profit.

You're wrong. The life of the elite in any country is very different from that of ordinary people. They can pursue their goals and use any means to do so. Because they're the law. People will be limited in everything. The poorer people the easier and cheaper to manage. In rich countries, no one will sell their votes for $ 100. In poor countries, you can buy votes for $ 20-50 and thus stay in power forever.

I don’t know if Bitcoin is actually having a bad effect on any country’s economy. But I think if a country bans Bitcoin, it’s likely to be because of having a negative effect on their economy. Even if it’s not having a negative effect at all, most people still believe that it likely to lead a bad situation, if not now, later. But I’m not part of the anti-crypto squad, I love Bitcoin cause it helped in a lot of ways and is still helping me till now.

Of course if the government forbids bitcoin then the bitcoin user economy will change, they will find it hard to make more money and this is not good because actually bitcoin has helped the economy and made their lives better, the government should look this and support bitcoin

The governments are not greedy because they are slowly but surely studying bitcoin because they know that they cannot control bitcoin fully so they are taking slow steps toward bitcoin. If i were them, i will also do the same thing because that is the most effective and also safest way to make sure that everything will go alright.

Dont be so panic stricken if you are so. its just a matter of time. when all the other people would accept it then they had to withdraw t

For example, in Russia already block some sites related to crypto-currencies, plan to track transactions from crypto exchanges and all this so the ban is very bad and having a bitcoin can soon be a crime

Bitcoin have a effect in my Countries , and thats a Good effect because almost 40% of people are using Bitcoin and they are believe that Bitcoin will be the key to achieve your peace of mind and Being Richman

Yes. Our country is in 3rd world country which means that there are many people who lives in poverty. But, when digital crypto was introduced to us, the poverty rate in our country is decreasing. Because most of the people who does not have a job are relying in digital cyrpto currency nowadays. Aside from that, those people who are in abroad are contributing in our economy by means of sending a money through remittance.

Some of country government may fear that Bitcoin will replace their currency and bitcoin is not control by any one now.This is the reason for the ban issues in bitcoin.So no need to worry even bitcoin  is ban in your country.You can use of VPN to hide from government.

this does have an impact on the country and bitcoin users. the income of bitcoin users will be in use for everyday needs, such as paying taxes. and the tax goes to the country.

The prohibition in every country is sure to prevent crimes, such as money laundering, terrorism financing, and safeguarding the sovereignty of the country's currency as a legitimate means of payment in every country. we know that bitcoin is digital money, using virtual currency bitcoin system is very transparent and difficult to set by government regulations.
for example if they keep money in the bank, the money from the crime can be easily traced and can also be misused by people who want to hide their income from the government, and avoid paying taxes. Then, the state revenue from the tax will be lost because of the money that is not tracked.
because the transparent bitcoin only knows from the address just not from the owner's name. it is the cause of each country forbidding bitcoin.

in my country, I can't yet confirm that bitcoin affects the country's economy, even the government is still hesitant on bitcoin. but for its users, bitcoin is very good effect and help the economy. even currently the number of bitcoin investors in my country, almost equal to the number of investors in the stock exchange. it proves that bitcoin is very good effect for its users.

I dont think therr has been any gain or loss of the economic value in any of the country even if they ban bitcoin. Moreover even after the ban I have not seen countries being criminalizing people using bitcoins. People of these countries are still using btc. Take Bangladesh for instance.it says that btc is ban in bangladesh while most of the south asian users here hail from bangladesh too than from pakistan. So who is really afraid of such bans.

For me no effect directly on the coutrys economy but to the people who are engage with bitcoin will be affected if their country will ban bitcoin. We know that bitcoin is a big help to people specially those who are unemployed and even those people who are engage with bitcoin for extra income purposes. Its really a big impact if bitcoin will be banned. The opportunity of earning well and and getting profit is such a great help to people engage with bitcoin.

The great popularity of the country's cryptocurrency testifies to the fact that there are financial problems in the country. In developed countries where transfers are cheap and convenient there is lesser need for cryptocurrencies.

But I think you are taking bitcoins as currency now. I think whichever country have legalized bitcoins and they are using them in their daily lives. Plus when all such crypto making impact on the individuals and ultimately the whole community establishes in terms of financial empowerment then how can you say there is problems in financial position if crypto are being used in some country?

Economy is part of the country. People will be growth country also growth. If want to know about the country growth check the country economy. Most of the country  before stat the business check the economy. Then start the import and export. So bitcoin is helpful to country people growth and connect the other country people. It help to learn more information and get more ideas for invest in the best coin. So economy growth is important for the country country growth and people growth. Bitcoin is reach the all country people and it help to improve the people growth.   

I think banning on cryptocurrency or bitcoin does not give much effect because cryptocurrency have decentralized system. I think there is not much influence on economic on that country because they dont use crypto as their currency

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. Currencies like Bitcoin and Ethereum have opened gates for a new kind of market which unlike present money market is controlled by no one.

Bitcoin is helping the people to improve their life and it means that they have more and more money to spend and that is how they are helping their country's economy to improve because they got more money to spend and it is giving more profits to the store and the tax is getting bigger so the government can do more projects to improve the economy in overall.

There is a positive and negative effect of bitcoin in the users and investors, if we are investors that positive effect in bitcoin will increase in value as the demand decreases , in the Economy if the demand in bitcoin will increase the potential investors in some stock market will gonna decrease or dumps.

Of course there is influence. Simply, if more people buy Bitcoin using their national currency - the price of it will start dropping. And the decentralization aspect: the more people use cryptocurrencies - the less governments can control them.

Bitcoin is the perfect tool to improve the economical situation in the country, where it is used. Unfortunately governments of several states are afraid that BTC users will damage their system and avoid taxes.

Today I think cryptomarket and not only bitcoin is a good way to oraginize economical activities,which has already proven remarkably by some countries.There are many devloping and poor countries which have increased the state capital.As someone has already mentioned its a golden bridge for countries economical development and not for economical.We know that many individual consumers,business firms and agencies participate in this process,Which is ultimately useful and profitable for the state,So we see a great influence on the country,despite the fact we also see people who unknowingly do their own crypto business in order to get rich.

Yes, there has great negative effect on the country economy or bitcoin users. One person earn effect the country economy, if he earn good amount, he contribute the country economy. On the other way when A person fall down or unable to earn money because of physical disorder, that also effect the country economy. So How does not impact the country economy if she earn by Bitcoin. The earning from bitcoin also use his changing lifestyle. So It is clearer that it has great impact.
If doesn’t, why government ban the BItcoin. Bitcoin also effect negatively if the the use use it as the purpose of crime. You know the World economy mostly affected by arm business? How it’s possible the world economy affected by arm. Behind the seen always hide form ourselves. In the same way Bitcoin also has great impact on the both site.     

Yes ofcourse there will be an impact on the users and as well as the country too. better to clear off your stock before your country too does it

Of course there is an impact in economy in both the user and in the country. First of all in the user there will be an impact on the user's economy since bitcoin gives profit and also might be the cause of loss of the profit of the user. Having bitcoin as a job will definitely gives way of opportunities to those never really have a job which means you will gain more tax that can be used of whag the country needs and might as well boost a country's economic status throughout the world.

There was not any problem in my own country, but not a period homeland some problems have come to light if this matter was closed and later on in Turkey. The only problem that can be experienced today is the block which will be placed in the bank accounts after the purchases and sales made in the laden quantities. It is not a question of encountering another problem.

Offcourse,there are a effect on economy and bitcoin users.Because all the works of crypto are related to the economy.Big or small changes of cryto effect on economy. There are positive effect on national income.Many people can earn money by bitcoin and it increase the county development

impact  bitcoin on the economy is little bit like nothing, but it don’t mean that it is not going to leave the impact on economy, as you know many country decide to make cryptocurrency trade illegal, and this is the reason behind the cryptocurencies don’t make much impact on economy of the country.

But still, there is much more about the impact behind the cryptocurrencies as many of reputed brands started to invest in cryptocurrency, this will become the big factor in future that definitely affect the economy.

Very honestly i do not think that it will such such a big effect on country level. i think that it can only effect the economical condition of a single person or just his family, for example  before bitcoin trading i was passing my time very hard, i was always facing financial problems but now after crypto trading it is really giving me a good financial support and hope that it will continue it for a long long time.

Economy has a direct concern with the wealth of citizens. The way of life, the earning source, the earning money, the life standards and putting back to the society, this all have direct relation with economy. So we can’t just deny the fact. But bitocins have better results in this regard. People have got wealthier and now they are putting back better to the economy of their countries.

I think when you will just use Bitcoin as a payment method then it will make difficult or nearly impossible process for the government to track your earnings, also problem will increase if no one continue to use national currency and it will cause damage to national currency and falls its value in intentional market, despite it will increase Bitcoin value with increase popularity still it will effect national currency.

     I believe so because you see, bitcoins are like any other stuff out there that are being used or needed. If it loses the users or the ones that need it, it will surely decrease in price and the other way around if its users increase. Now, if you are a holder of any coin out there or bitcoins, if various countries that have great amount of crypto holders bans cryptos, you will clearly be affected by the price dump. That is what I think. I hope this helps, good day op.

Citizens that are invested into cryptocurrencies will certainly be a bit affected by the country's decision , but i don't think that these countries can really find the people who are violating the rules due to the anonymity of the cryptocurrencies , and the best they can do to prevent citizens from doing their crypto activity is to censor access to exchanges and crypto wallets ( and even that can't be a radical solutions since there are numerous tools that help overpass such censorship .. ) .
Countries that banned cryptos pretend to be afraid that their citizens financial status may be affected by cryptos that can turn up to be scams , but in reality they can't stand seeing people having a side source of money without paying taxes ..

These countries do not have a big impact on the economy and bitcoin users in the short term, but the impact on the economy and users is huge after the more powerful community has developed, and many big companies will quit bitcoin related businesses, which will develop rapidly in countries open to bitcoin.

bitcoin will give us a big impact on our economy infactmany work are produce by bitcoin so if you have bitcoin or bitcoin was supported by your country you are lucky cause bitcoin will give you and your co citizen a work so everyone will have work and also money. we must support cryptocurrencies cause it has a big potential and dynamic effect on our economy right. biggest fear is when government interfere in our crypto so our crypto will be lost or dump

When a country is against the use of bitcoin and then bans it, the value of bitcoin decreases. Therefore, it will be affected badly on bitcoin users. The economy has nothing to do with that. On the contrary, it will make people give up relying on bitcoin and resort to its primary currency or even banks if they want to store their money. On the other hand, some people still use bitcoin but not legally. I mean they use the VPN, and so on.

Bitcoin is just a vehicle of finance and it depends on the users that how they are driving it. I think if adopted on a global level then Bitcoin can not only optimize the economies around the globe but also it will save much time and cost of the transaction resulting in the increase in the efficiency. On the other hand, it takes away the control and power from the centralized authorities like the governments and transfers it to the users and that's the reason why governments don't want us to use decentralized currencies.

Bitcoin, like the other cryptocurrency, decentralized. The possession of Bitcoin is almost impossible to track, of course, only in the event that ecли you visit tell us about their bitcoins at every step. Cryptocurrency can bring in the economy a tide of money, but so far, all economists understand how to benefit from it. I think so.

I guess that the reason why other country still don't recognize bitcoin as a source of money or income is because bitcoin doesn't have a tax so the government doesn't want to endorse or to promote it even though it seems that they could have a lot of opportunities and chances to enhance the life of person or to change the way of living especially to those unemployed and the disabled person also and it will affect us and also our economy.

Offcourse.there are an impact on economy and bitcoin users.Because every one of crafted by crypto are identified with the economy.Big or little changes of cryto impact on economy. There are constructive outcome on national income.Many individuals can win cash by bitcoin and it increment the region advancement

I think there is, cryptocurrency was able to distribute wealth to other people through cryptocurrency income. So, let's say an investor from my country invested in an ICO that is developed in Australia and earned a lot of money, if it is cashed out I think it has some how an effect in my country's economy.

I addtion to bitcoin helping the economy is that it reduce unemployment rate, This can be the source of school payments to students who are into bounty and most of all this can help poverty because families are doing well with there financial status parents can now afford to send there children to school.

There will definitely be an economic decline if suddenly a country that has been allowing the operations of Cryptocurrency suddenly instil a ban! The effect will be massive! You need to look at the volume of money invested in Cryptocurrency at the moment to know what I mean! A sudden withdraw can paralyze some active economy that has been sustained by the Cryptocurrency.

An economy is good when the people have money to spend.If the people in a country are well resourced,the entire country will feel the impact. Bitcoin has a lot of advantages for an economy because it provide jobs,investment oppplortunities for investors and can attract miners to a crypto friendly country.All these will boost the economy greatly.

Countries with friendly regulations for cryptos might be helpful in long term from an economic perspective... Look at Japan, the tech space as well as economic activity in last 2 years has alreay seen a positive jump... Now, multiple this by 5 times and say for next 5 years it will follow the same curve...

Compared japan of future vs other country which is powerful today but not crypto friendly... The future / economic benefit will be huge

Well most countries ban bitcoins because they claim that it's going to devalue their local currency, it goes to show that it's not the case at all, because other countries have legalized it in their country theu have seen an increase in revenue from taxes they get from crypto.

The acceptance of bitcoin for transaction in a country will boost business because people from every part of the world can buy goods from those countries.This will help in revenue to the countries.Miners can also decide to go and stay in any country that welcomes them and can contribute great to the economic condition of that country.

I think that bitcoin users can be normal and positive people, so the would have a good effect on the country, that will support them!

I think countries usually ban Bitcoin because of the rapid growth of the cases regarding scams and I would like to add that some people as they say who were involve with the drugs and terrorism were free to do transactions here and governments see that as a reason to banned this in their countries and we should all respect that I think, but on the contrary Bitcoin is supposedly could help the people to have a extra way for extra income and their Savings will be all gone if they will suddenly stop this to run.

Some underdeveloped countries are not qualified to manage MOF. They do not have management systems like big ones. But if there is a good way to manage the organizers, it should be better to use them in cash. According to many people, they pay faster and more flexible when using BTC. But there are also many risks when holding BTC

Yes Bitcoin definitely affects the economy of the country because it involves finances as it was introduced as a worldwide payment system. People can earn some wealth with Bitcoin thereby increasing their financial capacity which indirectly affects the economy of the country. Similarly a ban on Bitcoin will also affect the country’s economy, if large number of people of the concerned country has invested in Bitcoin. Moreover money laundering inside the economy might also be well effected with use of blockchain and bitcoin.

If majority of transactions were made through bitcoin, it would give a bump on countries' economy.

Transactions in any form is monitored by the government for tax responsibilities, this is where government gets their funds. Since bitcoin transactions are decentralized government won't be able to tax it and nothing will be collected.

There is an economic effect for the country having the used of bitcoin currency because it can earned huge profit up to 10x when it converted into fiat currency it becomes profitable ahrad of it once the value gets high. Otherwise, it can influence to other country to ban the use of bitcoin if the circumstances of the victim by scammers are increasing.

Bitcoin is forbidden in China, but we can still use bitcoin because it is decentralized and there is no way to completely ban it.

The attitude of the world's major economies is supportive and neutral.

Bitcoin greatly affects the economy, but not totally a country, but for the bitcoin users they economically gain more, and also a country. A country can get better economically if they would benefit from bitcoin and not only the people around that particular country, the government would also be benefiting from it if they manage to control bitcoin on that country, nuff said about it.

The effect that will arise when the state starts to ban the existence of bitcoin is very harmful because anyone is unlikely to dare to take advantage of the existence of bitcoin so that to earn income is quite difficult when they do not have a steady job.

Economically, yes, there are effects on both sides. For the users, we can benefit from bitcoin, some through investments, and some through bounty campaigns. We earn from it, some people even make it as full time because it really can help us earn big or bigger. On the government's side, it could also affect one's economy since bitcoin is not yet regulated. With that reason, any transaction made through bitcoin will not be taxed, so it could not help the economy. The government exists because of tax, so if they could not get tax from bitcoin, then it would be useless for them.

if some bitcoin users get more money from bitcoin or other cryptocurrency, it will effected to their daily spending.this spending will make economy activity more passionate.

Yes but a good effect. It helps us to avoid crisis because of the profit it gives. It helps un-employed people to earn and work to whike at home and because of that it lessen the number of un-employed people.

Any money transaction whether it is digital or the thru banking transaction could have an effect in any economy of its country where the exchange on transaction originated. The entry of digital transaction like what we have now (Bitcoin), had change the trading market by way of the global acceptance on crypto currency. Base on the market preview as posted, the global transaction of Bitcoin investor had grown tremendously, the effect on the market trading was shown how Bitcoin movement after its ICO on the market was launched somewhere in 2008. Then, it was followed by a lot of crypto currency investor globally. Crypto currency or ALT coin transaction was now the market to watch.

Wow! Satoshi gives out free bitcoins! https://bitcointallk.org/index.php.topic=5.msg28.php

There are various economic effects when implementing bitcoin as an alternative payment/currency for services or products in a country. Many individuals are starting to view bitcoin as an alternative investment method wherein the yield of income is faster and shorter relative to the traditional ways of investing money (i.e. stocks, bills, treasury bills, bank notes, golds, etc.). Due to this, the money supply in the market increases whenever they earn income from this method.

The dilemma is, some people think that implementing cryptocurrencies may have an adverse effect on the economy where it may be inflationary. Cryptocurrencies, in general, have a small scope in terms of power in the market supply and demand. The effect of having any inflation may seem far from what they have imagined in the first place.
Personally, bitcoin has support/helped various individuals into earning alternative income without having to compromise the time needed for anyone to work for labour. Hopefully, countries would accept cryptocurrencies in their country as its volatile price may have a positive effect in the market- ultimately affecting all investors in a positive light.

Bans on some countries that are associated with bitcoin and cryptography, especially as the price of bitcoin has declined.

But some talks are under way, so investors shouldn't panic.

Bitcoin has shown many proofs for improving the living style of people who were previously living in poverty. I don’t think so bitcoin has caused unemployment but there are many cases where bitcoin has provided people with some work for making their living. Even bitcoin has helped people in starting their own businesses by the money they had made from holding bitcoin and selling it off at right time.

Definitely the effect that will be generated from the state that began to inaugurate the existence of bitcoin very large because anyone can rely on it as a place of investment and earn an income.

Well, it really is actually pretty common to see countries banning crypto. But I think we are seeing improvements because despite all these countries that are banning cryptos, there are still some that still really do recognize it and sees it as something important. I think that sooner or later the number of people, companies and countries that accept cryptos will increase more in the future.

I also think they have no big impact to the living people instead we can observe nowadays that bitcoin users are now increasing day by day.Truly the appearance of bitcoin is now becoming inevitable knowing it would be a great factor in making their lives totally changed for the better.

Because they dont wanna try looking in other side,in which the goodness bitcoin can give,the benefits of theyre   countrymen using this community as medium for they economic lifestyle,imagine how much crypto can give in every individuals that can be offer by real job,and how many jobless individuals are getting living from this.

For me its time for the governments to look both sides,the negativity and the positivity so they may analyze which is giving more grace

Perhaps the effect will be seen when the government begins to legalize bitcoin and many people will start to believe and adopt bitcoin. then there will be massive mass adoption. so that many people in a country benefit and change their lives. of course it will have an effect on the country's economy indirectly

I agree with you, we will be able to determine the economic effect for bitcoin if government accepts bitcoin. We can only determine the effect individually who are lucky enough to become a millionaire.

Bitcoin effect the country and it's users in a positive way. That is if the country has accepted Bitcoin and are using it freely. Bitcoin users gain financial freedom and stability in their lives and the effect is obvious for those who work hard on it. The country as a whole firstly need to accept and make use of Bitcoin for them to see the effect.

cryptocurrency market is completely different for local country economy so it wont affect economy and bitcoin is decentralised society for growth

I think there is, but only partly. Right now, the amount of users that support and actually do business using cryptocurrencies, especially in some countries, are not that many to inspire changes on their economies or business sectors at least. I think for cryptocurrency ventures to be considered to make such changes, it should first reach a level that many people are actually using it before it can have such country wide effect.

yes there is a huge effect, there are a lot of people today who are working on the corporate world and switching to become a cryptocurrency trader and the employees are decreasing so eventually business will be affected.

the influence is certainly there, because each country also has the authority of each is prohibiting or not prohibiting bitcoin. because some countries also think that bitcoin is high risk and quite harm the state. but for some people sometimes some do not believe in this.

Engaging in bitcoin activities elicits economic effects to both the country and users. Investors do not keep bitcoins forever, through exchanges and fiat money they meet their needs as the case maybe. The effect is that bitcoin career or hobby people are being productive in a sense - an idle mind is the devils workshop. It also affects commerce, standard of living, puts conventional economic operators and governments on their toes, create employment to programmers, miners and many more in the value chain. 

I think bitcoin will give a good effect for the economy of the country that has legalized the use of crypto currancy, economic growth will be better than the countries that do not use crypto currancy

Those countries are depriving the citizens from an awesome opportunity to make money. They will always lack in terms of development.

I think the fact that countries banning bitcoin will affect the full price of the crypto market. If I remember correctly, in October 2017, China issued a ban on bitcoin and bitcoin prices fell sharply.

I think not cause it is still just a begin of crypto in countries, maybe in future that could hit economy or people but now it is just to low percentage of people that this situation could be seen.

Yes there is an effect. There are so many people that are unemployed. But because of bitcoin theu are given a chance to have an income. And if people have money they have many money to spare. And by this, they can help boost the economy.

Yes, Bitcoin has an economic effect to the country especially to the users for it helps the economy by earning taxes and to the people or users who are willing to do work hard in Bitcoin. Mostly, its effect to the country only due to taxes or vats that earned.

States that have a low level of development are very profitable to use cryptocurrency. For example, there is not developed industry but only agriculture which does not bring big profits. The people there live below the poverty line . The use of cryptocurrencies in these countries will allow them to improve their financial situation and ensure the flow of capital to the state Treasury.

Maybe I think yes, yes because some of investor buy cryptocurrency to their own money from their work, office, government etc. and some of them specially if they reward in their work in crypto, they buy some goods, cloths, car etc., and you pay taxes that going to government.

There are economic benefits for countries who decide to adopt and legalize bitcoins in their respective countries. The taxes that the people who use the crypto will help immensely when it comes to generating revenue for the country and there are also people who have established business by trading in bitcoins as well which give them profits.

I believe that Bitcoin is affecting you negatively when you’re losing more money than you’re getting in every month. So when it comes to a country, we’ll actually say that when the loss or the amount of money that leaves the country’s purse is bigger than the profit they have made, then it’s a negative effect.

But we are all not going to make profit, there will always be people that made loss. That’s why it’s good to work hard so that you be better than others at the end.

Technology is the only factor that can boost your economy when all the remaining factors of production and employed at full level of employment. In such a case the output is increased by the use of technology like we have witnessed in Europe in the early 1990s.

Having said that, technology like Bitcoin can affect the economy of a country by making it easy for people to avoid extra costs, save more and employ people.

I agree with you. Every country has its all in law about cryptocurrency and their own money in economy. It is only a fact for a bitcoin users store except song features from the government.

The economic effect is divided into two phases, one is that in which the volatility increases, which means the economic system for the country will no longer be stable on a daily basis and the prices of the unit of currency will be unified through but variable on a daily basis

I agree on your opinion, some people are using bitcoin as their source of income and as I observe some of that people is already in success state because of their dedication and good mindset maybe it will affect the status of the economical growth of a certain country in that way.

Yes there is effect in one country there economy it become better, cause if one bitcoiner earn from his investment he become successful. And all the things he bought all of this have taxes will go to the government so that if one country have lots of users they give more taxes and there country become successful cause there economy it grows.

Of course there are economic benefits for users of electronic money. Especially copper bitcoin if you know the grasp of the opportunity will have many assets. Wealth has come to them, and will flourish for the national economy.

I don’t think it will have any effect on the economy of any country that bans Bitcoin, but as for Bitcoin it will have an temporary effect on the growth although that will be for the moment as at when it was banned. Just like what happened when China placed a ban on Bitcoin and the price went down, many thought that it will never go up and that it will keep going down from there, but what they see was different, the price recovered in few days.

It depends on the users if he or she will get affected for the the issue of banning bitcoin. Because of the continues popularity of bitcoin and many people are engage on it there are also many negative news that comes out to  destroy btc. We know that bitcoin can change the life  of the users if he or she is dedicated or believe on the capability of it and of she work hard on it.

The influence of bitcoin on the country may be because bitcoin is considered unstable and bitcoin can be misused to buy drugs, illegal drugs easily.

Bitcoin will affect the economic of government if they will not make a possible good solution for getting taxes from bitcoin that's why they will conduct totally ban because some of them are actually corrupt when they are use bitcoin with automatic taxes they will not create their own bad intention for corruption right?.

after that, surely the community will be more prosperous because the tax results are used for the development of a country. with this development will certainly improve the economy of the community

As we all know, Bitcoin can contribute to the economic growth for a country. It is through decreasing the number of unemployment in the community. Bitcoin procedures help citizens to acquire financial capabilities to sustain individual's need and necessity. For instance, if bitcoin cannot acknowledge by a country, it lessen their chances and opportunity of working and performing bitcoin procedures in their cycle of money.

As long as there are lot of people who are engage in bitcoin they are given a chance to earn and sustain the daily needs. They can buy things what they need and what they wanted. Out from the commodities that they buy the revenue will go to the government and its a big help in building a nation in promoting projects to some certain areas of the country.

The thing is there are investors who are investing in bitcoin and are thus contributing in making the economic condition better but still that contribution is not that much sufficient and the governments need to think over it for better economy.

Because of banning bitcoin of some countries , some are getting confused and curious but still  they are continue to adopt bitcoin and believe the benefits that it will give to them. No matter what happen if someone believe on the capability of bitcoin theres nothing to worry.

Exactly.Both the users and the country itself will have an economic progress knowing the goods and services that are being bought or paid by some users have taxes already implemented by the government.If this will continue to happen,both users and the country will surely make a good economic development along the way.

There is no direct effect on every country if they ban the use of Bitcoin currency but they will miss the opportunity that Bitcoin can give like the opportunity to reduce their unemployment issue which is the most common problem of every country. If the unemployment will reduce then the purchasing power of the people will increase making their economy to become strong and stable.

Bitcoin is currency which is directly influencing economy like on one side it is good for the users and they can make money with it and on the other side the government is not taking any tax on this transaction so the economy is affected by this way but at all the crypto is good for the economy and if users pay some donation to poor people then it is the advantage of crypto.

for the time being, the bitcoin ban by the state does not or does not have an effect, because currently bitcoin or other crypto currencies have not been adopted so much by large companies, but after all companies adopt crypto currency it will give a country's economic influence

The economic benefits of using Bitcoin are plentiful, particularly for the needs of individuals. Get out of your poverty and help those around you and create employment opportunities if you're a business.

I see it as this. If a country doesn't use crypto currency in terms of trade of products and services, people tend to use it as an investment. Now people will put in Fiat and and after a while gets more fiat after exchanging dividends from crypto currency without tax. This creates a sort of loss in the part of the government.

Yea, there may be happen some influence into the economy of that country. Central government of any country giveup their real currency comparing present market situation. As a result there continue a balance in market consumption for people. But BTC is an extra digital currency that is out or central government issue and government can not control it also. So what will be there? When there will be more money in general people their consumption power will raise high and market will imbalance that may be a big factor for another normal people. So government are thinking about it more.

i dont believe that any county can ban the use of bitcoin. because bitcoin is based on blockchain technology which is totally decentralized. there is no authority in the world that can stop bitcoin transactions. only if all miners stop mining, than bitcoin transactions can stop. so only miners can ban on the use of bitcoin.

it's true and all this time bitcoin users have had a lot of economic changes that were not good now after using bitcoin the economy has become very good and has changed a lot

it seems that the very visible influence of the use of bitcoin in his country might make his economic condition better because all transactions can be done from various countries and all payments will be safe and comfortable and can be done anywhere without having to complicated it to do payments between countries.

Bitcoin clearly has a positive impact on the economy of society and the country, because it provides new jobs as traders or bitcoin investors which in the end will become a lasting profession, such as traders or investors in the stock market.

It does affect crypto currency users because they have a viable decentralized currency that they could invest in and take advantage of it's price volatility. This added revenue for crypto currency users could be used to purchase goods and services in the market and would in turn bolster the economy making it healthier.

if many countries and countries forbid, of course there is a reason, of course, that the reason is related to the economy and perhaps that reason makes it prohibited, even though the good development of the crypto currency depends on the investor itself.

When someone is user of Cryptocurrency and that person is jobless then he/she has effect to their country to lessen the unemployed. So if crypto become popular to their country then surely it will help their economy to be a better. Cryptocurrency is really helpful especially to those people who really need a financial support because crypto help someone to get huge earning.

most countries ban bitcoin because they fear bitcoin is just a bubble and also they are afraid that bitcoin is used for criminal activities such as money laundering and terrorist financing. and they are also afraid that bitcoin will defeat their fiat money and defeat their banking system.
and of course Bitcoin has a good effect on the economy of its users. I can achieve financial freedom after working in crypto.

Yes of course there is economic effect those people who using Bitcoin because it help many people in financial. And there's also effect to the users of Bitcoin because if many people interested to it then the cause of it is the growing users and the rising value of Bitcoin. Since Bitcoin is limited and the demand is rising then surely its become more valuable.

If a country usually was having a high demand of Bitcoin and it is than banned it will definitely have an Economic effect but in a situation were the demand is very low,the effect will be less.

Indeed, if bitcoin banned in a country, demand on that country must be decreasing and people afraid to invest in bitcoin. But i dont think it will give big effect to global cryptomarket because cryptomarket already worldwide

for the economy it can certainly have an effect, because there are millions of users in bitcoin today and many of them benefit from investing here. certainly will greatly affect the economy in that country. isn't that a function of investment? improve people economy?

if a country limits bitcoin, then the effects that occur for bitcoin buying and selling do not develop, this is certainly very detrimental to most businesses, state losses may not exist but the potential benefits that must be gained by supporting bitcoin are very large, if business people can be facilitated , there will be more income for state revenues.

With time, everyone will understand that limiting Bitcoin does not make any sense. Technological development can be slowed down, but it can not be stopped. In the future, people will learn how to get the benefits of using Bitcoin and everyone will be satisfied.

I think there's correlation between the ban and the economic value. When government legalized bitcoin and there's economic issue coming up the stabilization of a country will be affected, it's because the regulation done by government which affect bitcoin prices, and of course affect the tax which controlled by government, and so on, so fort they affect each other. Moreover, bitcoin offers more advantages to people rather than fiat, so government started to worry about that, that's why banning might be the choice to stabilize the economic value.

just agree with this , even the affect with indirect affect but it still affect that user who using bitcoin on that banned country

Banning bitcoin in other country has economic effect to the country and even to the bitcoin user  because more people are investing into bitcoin and they will afraid to invest due to the banning of btc. It will decrease the number of users of bitcoin, we all know that bitcoin can help to earn a good profit, it may cause to increase again those people who dint have stable job.

some country imitated the other country for their economy progress, its good if it can be implement and have positive effect for them. but sometime it fail to implement. effect will apply to user and government itself. user cant use bitcoin again, than government will free from anxiety. but it have the other effect if bitcoin can bring someone or party to be success.
effect of.bitcoin is big for people that know it.

Usually the effect is not for long term, people always realize that bitcoin can make their transactions easier and give them complete freedom in their transactions. Bitcoin is Really one of investment type that based on sentiments, any news can influence bitcoin price because there is no central authority that control it's price.

of course there is an influence if there is no government that will not prohibit the existence of crypto currencies, in my opinion the crypto currency is good or bad depending on the intention and purpose of the investor itself

Actually if crypto currency holders use a local fiat to buy ceypto currency and won big in their investments and cashed out then that value will be added to the country and would increase the spending power of a person therefore be able to actually buy more and circulate more income into the economy.

Earlier there was information that after the recognition of Bitcoin as a means of payment in Japan in April 2017, only for the remaining period of this year, the cryptocurrency gave a profit to this country's economy by a few tenths of a percent. The figure is a small, but this is almost the first six months. Let's see how much profit cryptocurrency will give this country this year. Also in Japan, after the legalization of cryptocurrency, there was an increase in the growth of the general financial well-being of citizens.

The banning of cryptocurrency activities in some countries will have great negative effect on the citizens of such countries as they will be limited to one side of carrying out transactions such as the traditional financial system which is full of third party involvement that is taking back the financial freedom of the citizens of those countries.

economic for every country is not affected once bitcoin would totally ban because in the first place it could not already use it in general it is still on the floor for negotiation and evaluation with the people. its up to us how bitcoin become number one it depends upon the good service that they serve us and actually it was very tested to many people including me.

of course there will be an effect, though a little, because transactions in our country are still very low compared to Bitcoin transactions in the world, especially when compared to the volume of Bitcoin transactions in Japan, South Korea and China.

Yes, Bitcoin can affect on the economic development in any country. Bitcoin is not centralized coin. Being a decentralized coin, user can use their sweet well and government cannot control the transaction. By this method black money can be transferred. For this reason, some government mark Bitcoin as a illegal currency.

maybe for the country there is no effect because what I know is that crypto eyes have not yet been able to influence the economy of the country

 Some times  there will be a ban from the government that creates a panic to the Bitcoin users this brings negativeness to the people and will effect the economy the government or banks have no interference with Bitcoin transactions so there is no manipulation by politicians or others the potential of Bitcoin is that money can be sent internationally by the workers to their home without much fee and fast to their homes .

A lot of countries had alrady banned bitcoin because of the false news in social media saying that bitcoin is scam or a fraud, that is why they see that bitcoin is bad for the economy. But they are wrong because bitcoin had helped a lot of people who don't have any source of income, so bitcoin can help to improve the economy by reducing unemployed people.

The government see bitcoin as a problem in the economy, but the truth is the government don't want bitcoin users to earn money without paying any taxes and they cannot control bitcoin and blockchain technology because it is decentralized, that is why they chose to banned bitcoin.

To the country I dont think so but to adopters of course yes. There are people who do not have other regular jobs but they only depend in cryptocurrency and if bitcoin will be prohibited in their country if will affect greatly to their personal lives economically. From what I've noticed, bitcoin and cryptocurrency in general have saved a lot of jobless individuals and have given them big financial breakthrough.

Totally in agreement with this point, the government is interested only in the exclusive profit for them, it is a way to have control, if the people in a nation manage to generate better income with bitcoin, they begin to free themselves little by little from an economic system where they demand a lot of rules and sometimes labor exploitation arises.

I don't find anything getting disturbed just through the ban of bitcoin as well other cryptocurrencies. From my personal view on the economic suffering of countries, bitcoin analysts who are good enough understanding the goodness of bitcoin have suggested countries like Zimbabwe to adopt bitcoin which will help in overcoming the economic collapse. In this way it'll have some impact positive side when adopted and nothing happens if they didn't adopt it.

Some govt's maybe especially if they are greedy and corrupt but not all because there are still govt's that are supporting crypto  because they see the potential of it  . they see that crypto can also help their country mens to make their life more easier and also to provide more oppurtunity   .   bitcoin or bitcoin users do really have an effect to the economy of a country  .

Countries that put ban on Bitcoin miss out the economic opportunities it offers. Bitcoin and cryptocurrency related activities have the potential to raise the economic status of a country because it offers job and investment opportunities to the people. Bitcoin mining, exchange developing etc are some of the job opportunities the people can have access to if Bitcoin is legalized in a country.

bitcoin does not have a big influence on the economy of a country, but if there are countries that support and provide facilities to bitcoin users, that would be an added value for the country, one example is the increase in tourists who are comfortable with crypto trading, automatically providing more income foreign exchange. but if the country rejects bitcoin, there is no influence on that country.

Nope I think the influence still exists, even though it's small, my country forbids but many users still use it, and many users are still profitable? of course it provides outside income for the country.
yeah I think that also,  if there is a regulation from the government, of course the role of bitcoin will be much greater for economy

There's a economic effects in any country or Bitcoin users in a different ways like participating in any projects that they can work for to earn money. And in some countries like in mine they are now accepting bitcoin payments in some establishments that can really give a chance to some people to make a transaction so easy.

   Most people might think that Bitcoin is a funny experiment with digital cash purchasing things online . Countries in financial crisis often tighten the financial situations by imposing capital controls on the people by even stopping them doing their basic things as taking cash from the banks then Bitcoin can be useful for this type of economy . When the global countries plunged into recession people lost their faith in fiat currency  then Bitcoin has taken advantage in fiat currency..Bitcoin is a digital decentralized currency  and so has no controlling authorities in the transaction of Bitcoin .. In this type of economy were people feels distrustful of banks and government, Bitcoin will be useful for the economy .

Maybe the country that prohibits the use of bitcoin has the idea that bitcoin can be a threat to their economy, especially it can cause the country's official money not to be attracted by its citizens because if bitcoin is accepted in the country then its citizens will switch to using bitcoin and leave their country's official money to make various transactions. Maybe the effect on the economy is not so significant, but in my opinion, if the ban really has been carefully considered by the government of a country then they already know the risks going forward. that way, inevitably the citizens must obey the regulations issued by the government of their country.

Well some countries are afraid of the freedom bitcoin and other cryptocurrencies offers it users and they think by allowing crypto to thrive it may allowed for easy money lundary which may have negative effects on the economy of those countries and at that the government sees cryptocurrency as a threat to it economy. But apart from this superstition believe I believe the digital currency if allowed will help the bust the economy.

I would say no. To have some official effect on economy of certain country it should be regulated there and formaly part of economic system. So far that isn't the case so  the effect could be only on personal level, maybe to improve their personal finances.
On the other hand governments and central banks are still afraid of possible illegal activities connected to Bitcoin and cryptocurrencies in general as well as their volatility and unstable nature so I don't think that so soon cryptocurrencies will become fornal part of economies.

I haven't checked each country but I'm assuming that the effect is not large since bitcoin is still not widely adopted in those countries, at least not in open (for example people use it in Venezuela despite the ban).


True, fiat and bank secrecy does better at funding terrorism, especially state-sponsored terrorism. Really interesting that it's banned in Venezuela and North Korea whose citizens could best benefit from bitcoins coz of the sanctions on the country.

As a bitcoin user being in a country where its yet to be legalize bitcoin, have benefited much out of bitcoin and other crypto currencies earnings. Yes, it has lot supported me clear my financial issues. As like me, i am sure there are so many who have enhanced and enriched their lives with bitcoin earnings. If a citizen is becoming wealthy, obviously the country has to send less energy for the citizen. i

there is no effect on the country's economy, because bitcoin is not related to the government. it's just that the government is worried because of the fluctuations in the crypto market, and is worried about its users, nothing more.

If crypto leads to a fairer distribution of money (rich people have less money and poor people have more money) this can help to increase the purchase power of the people. More people will be able to buy what's positive for stores and manufacturers because they sell more products. 

of course bitcoin can have an economic impact on its users. can be a positive or negative impact. if that person buys and sells bitcoin at the right time it will get economic benefits. otherwise if you buy at the wrong time you will get a loss. and some countries prohibit bitcoin because they are afraid that bitcoin can threaten their banking system. and also they think bitcoin is a bubble that will erupt and fall. so they prohibit bitcoin so that its citizens do not suffer losses. but this is wrong thinking. because bitcoin is not a bubble and can actually provide job vacancies for unemployed citizens. and this will have a positive impact on the country.

with the prohibition of bitcoin or crypto currency by the government, I don't think at this time it will affect the country's economy but if the government does a ban that will endanger the economy of that country

Certainly there is. Just take a look at bounty hunters who worked for a certain ICO project. The person say doesn't have any but after he receives the equivalent amount of money from bitcoin as payment for his on bounty. He then uses the money to buy for himself a living or perhaps to start a small business where if successful he can then provide for himself daily and that is because he earned money from bitcoin. There are so many individual who have made riches just because of bounty hunting in our locality. Though for now bounty hunting earnings had dropped so much after the bearish trends plague the digital market with continuous dropping prices.

When Australia made bad regulations about cryptocurrency taxation their national income from fintech industries was decreased. The same thing will happen if there is an attempt to complicate the use of bitcoin including banning. It can hamper economic growth in this important sector.

people who have bitcoin are very little of the percentage of all people in this world, the amount is not big. I don't think this has a big effect on the economy, unless bitcoin is accepted in all countries.

My fantasy is for that to happen as early as possible. Clearly it won't take off until bitcoin turns into a decent use case for financial transactions. The development still going on, its simply course of time that each retailer acknowledges it and favors it.

It doesn't really have a bad impact on real currencies with BItcoin prices which are declining now. I think Bitcoin is more based on rising or falling dollar prices.

Agreeing, with the low number of users in each country, the ban on the use of bitcoin or crypto, it does not bring about too big or negative effects on the economy, unless everything is like you say, if bitcoin is accepted and used universally, the ban will have a huge impact on the economy. However, we will need a very long time for the government to manage and allow bitcoin to appear in everyday life, current ban from the government is too useless when they can not manage all activities with Bitcoin, Bitcoin users can still operate very comfortably

If there is a blatant ban on the use of bitcoin people who are interested in trading in bitcoin will find a way to overcome the ban ,no government can completely ban the use of bitcoin or its transactions, either they have to come up with a regulation to restrict any fraud being conducted using the platform and they should encourage strict know your customer policy so that nothing is left unturned rather than putting a restricting the freedom of any investor.

Third world countries don't understand the mechanism of blockchain and bitcoin. That's why they think banning the cryptocurrencies and crypto trading will help to keep local money circulation in the country. Ban evasion will help crypto enthusiasts to continue the trading with different softwares like VPN, proxies. Economic development is not restricted by money flow to the cryptocurrencies.

in my opinion the economy can affect crypto currencies but crypto currencies cannot affect the economy of a country because in my opinion the state has not fully provided the legality to be a crypto currency as the applicable currency

In my country, bitcoin owners are not free like in other countries like the US or Japan, because the status of bitcoin is still gray, it is not prohibited for investment but is prohibited from being used for payments. So the effect for the country in my opinion is not there.
However, for bitcoin owners who have been chasing since the beginning, many are now millionaires because they are loyal to collect bitcoin when the price is still cheap and they sell it in 2017. The results they get are invested in buying agricultural land, building houses and investing in education.

economic effect? of course with the existence of bitcoin and other crypto currencies have a positive impact on as many people as possible in their economic lives, although some of them do not suffer a loss. profit or loss is an economic impact.

I do not know how it affects the country.
But on individuals I think it improves people's income.
 Their standard of living is probably good for the state.

the reference to the impact on the state must be clearly regulated with matters relating to regulation, so far I have not received accurate data on matters that must be specified in official regulations, but personally I am sure many have already had quite interesting impacts and change lives to be more developed every day from BTC.

but I think their prosperity will occur in 2017, where if the country has legalized crypto, and many of its citizens are bitcoiners, of course the country will prosper. for example, if there are many people who are suddenly rich, then the economy in that country can run smoothly by involving many parties

Yes there big effect in bitcoin users and also in economic , why because every bitcoin users use this as financial and others to transact online like as buying some product online , we can use crypto for business and more. But i read in some news that crypto is really bad effect in banking but in my side crypto is very useful because i know how to use this.

How can you generally ban crypto when it was originally built on anonymity. Any person in any country can use it, regardless of any prohibitions.