Bitcoin Forum

The government in most countries have decided to ban Bitcoin and cryptocurrency as a whole. I begin to wonder why the government for these countries have taken such an initiative. Any idea on the benefits bitcoin offers to the economy? Help me convince my government to accept Bitcoin.

So far there are 2 well known cases that help countries during their financial crisis. Zimbabwe and Venezuela. Those two nations economy was bring to the brink of financial disorders that they have abandon their own currency and introduced others like bonds. But locals have others things in mind, go to crypto specially bitcoin. But as far as other benefits it can bring to let say a nation that is financially stable, like Japan, remains to be seen. But in my view, the economy can still grow because through bitcoin, people will have more purchasing power, so when people has the ability to buy products, it will definitely translate to a country having a better economy.

As stated by Kemarit, Venezuela and Zimbabwe are the only working examples of how bitcoin could benefit the economy of the country and the people themselves. In general, the government can also adapt bitcoin as one of its reserves in the future, given that bitcoin can be paid and received into literally almost every transaction. Thing is, the amount of merchants wanting to receive payments in bitcoin isn't that much, and most are only willing to use the coin as a speculative tool rather than a currency which, IMO is its only viable use currently.

Indeed with the failing economies of these countries, and its inflation rate hitting all time high, using bitcoin as a means will help the inflation go down. But we all know these countries doesn't really have that 'accepting stores to buy goods for bitcoin' kind of shops. As you have said, most would want to hold onto it rather than selling it now. They have heard its potential already, but the governments will just keep silent. We all know the world is a dangerous place. If one third world country wants a big kind of change, there will be another country contradicting it. And can start another war.

I just wish the countries won't ban it. Nevermind worldwide acceptance of its technology, just don't ban it. It won't harm anything or anyone anyway, except those who invested on it.

Most countries banned bitcoin? I guess you have misunderstood and converted those few countries into majority of them.
They see it as threat to their country for the same and repetitive reason all over again.
Additional to what they have said, it can also be a new source of taxation.

if BTC is not taxed , it does not benefit the country at all, it is a bad thing then.
It can be argued ,for example business is doing business across borders with btc, it can benefit because money is flowing faster and less expensive.

Also the boom of blockchain related business can contribute to economy greatly.

WRONG.
the cases of an actual bitcoin ban in countries are extremely rare. the news is filled with lies about bans though and i think you have fallen for that FUD.

in those rare cases like Bangladesh, it was done because the government feared they were going to lose control over their people and their tyranny could be reduced so they decided to ban bitcoin.

well you can't do that. you are either in one of those rare countries so your government is not going to change their rules or you are anywhere else in the world and your government has never banned it so there is nothing to change!

As I've experienced government here ban bitcoin because of a lot of scamming happened. And they can't controll because its along they internet. They don't have they accurate information to investigate or simething that can solve the case.

bitcoin offers many economic benefits to the cost of shipping money between countries in the world without having to go through the bank.

Government is depends on the president and ministers so they are all expecting our security because I saw many government beneficiary only have more asset. So Cryptocurrency is legalised in entire world automatically this will be globalised in future. So peoples are aware in new technology but government which countries are not favourable in people that country is avoiding the Crypto legalisation.

the biggest factor why many countries prohibit the use of bitcoin is because of the very fluctuating bitcoin price, therefore the government is very afraid that this bitcoin fluctuation will affect the economy in that country. while bitcoin has the greatest advantage for the economy. fiat currency has decreased in value or in the economy can be called inflation, while the bitcoin value the longer the higher. with the enactment of bitcoin across the country, there will be no monopoly on the use of money and payments across countries that can be integrated no value is wasted

Shipping requires fees, well, transaction fees. The word you are using is wrong, it is not "shipping" but transacting. I don't know the idea of what you are saying since a country don't really benefit in that, the one having a benefit in that is the people. I guess the most popular benefits of Bitcoin and other crypto currency to people is that they will be having money and they can buy things they want. Also this post above :

Surprisingly not many countries are banning the crypto currency. Im not sure why people look after the countries who are messing up with the bitcoin and why not look at those countries who are taking step forward and trying to accept bitcoin with great accuracy. I mean why not talk about the Japan, European countries and Swiss countries who are accepting the crypto currencies and are also giving people chance to make up their mind to use them on large scale. I guess its not perfect statement here, many governments are actually accepting these currencies and also working on blockchain for that matter.

Zimbabwe and Venezuela are helped by the bitcoin of the crisis they are experiencing, but whether in the developed world can make bitcoin for payment? does it have an effect on the country's currency? I think this is a problem that there is still no solution to legalize bitcoin in the country, so many countries are banning bitcoin in their country.

I believe bitcoin may able to help an economy in a country where there are less opportunities for the people to earn an income. With bitcoin, people from such countries could be able to participate and earn like joining bounty campaigns. Once these people can start to earn profit, then they can already spend their money for the basic needs and probably can alleviate their economic condition to a much comfortable life.

Financially it will be felt by everyone in one of the countries that use bitcoin as a place to earn a second income such as trading or investment at least will make him enough in terms of economy.

This will change and give a positive effect on the country's economy, so far like in my country to get the job hard, so many unemployment and indicate the prosperity of society is not stable, this will have a negative impact on the country's economy.

At least bitcoin will make every income, either as a source of income or as additional income.

I think that btc has a lot of different benefits and the government is not an exception because it is the best one ever and it can develop the current economy, i m sure that this will happen in the nearest future

I dont think bitcoin can help the economic drive of country to grow itself on its wheels. The bitcoin and all the economy related to it is basically very small as compared to the trillion dollars world wide economy. The money (fiat) keeps rising in the value day by day as the demand is rising high due to over grown population of the earth. I guess its very common sense to understand that crypto currency is like multi million company which is having distributed economic sources coming from all over the countries and thus net effect is global and very small and may not noticeable.


Just forget about it.

In many cases if we don't see the countries directly getting any benefit from Bitcoin but indirectly they get a lot from it. If Bitcoin could be a reason to individual financial stability and growth it will indirectly grow the countries economy by the taxes they get from the commodities purchased by the citizens. The only reason will be increased purchasing power of the citizens.

There are just few selected under developed countries that are filled with corruptions that banned bitcoin and other crypto currencies. No regulations, nothing. Just a direct ban hammer on the usage of crypto currencies. Those countries are the one that thinks that bitcoin will be used for illegal activities. Such irony, since they are the ones that are doing most of the under the table activities that are stopping and hampering the development of their country.

Bitcoin becomes the economic innovation that have the potential to revolutionize the current economic structure and change how banks and financial institutions operate. Since bitcoin is decentralized it enables digital transactions between two parties without the need of an intermediary.

My opinion for my particular country is based upon the amount that are stolen every month from the budget of country so when bitcoin will be on its place in the economy system politics will not be able to steal anymore.

the reason is very simple, because the government can not control bitcoin.
I think that's the easiest reason to accept, if they had learned more about bitcoin, they would not have done that.

It is actually not like that . Most of the countries all over the world approve BTC or other Cryptocurrency. A lot of international market place now allow BTC as a payment system. I'm not sure why people look after the countries who are messing up with the bitcoin and why not look at those countries who are taking step forward and trying to accept bitcoin with great accuracy. I mean why not talk about the Japan, European countries and Swiss countries who are accepting the crypto currencies and are also giving people chance to make up their mind to use them on large scale.

Bitcoin has helped most unemployed and university students in my country. Many are now able to pay their school fees with bitcoin. I think these governments have not taking their time to learn more about this bitcoin. Because most presidents are too busy to have time to learn about what exactly blockchain technology is. I think that is the cause of these bans. But to be honest, bitcoin has really stabilize the finances of may individuals who embraced it.

Bitcoin and cryptocurrency benefits the economy in a way that is not initially intended as it was supposed to be a mode of payment or transferring money with lesser fees, more security and much faster than any centralized system with the use of decentralization, however instead that it is used that way it is used more like an asset and traded in an everyday basis like in forex or stock exchange and this is how it helps the economies as small time investors can multiply their investments in a much quicker way than those in the forex or stock exchange with a greater risk.

Also with its decentralized nature where the people are in charge of how it runs along with untraceable people that use the blockchain it is hard for the governments to trace who is who and they cannot tax the people who uses it that is why some banks and government bans them. 

So far there are 2 surely understood cases that assistance nations amid their money related emergency. Zimbabwe and Venezuela. Those two countries economy was convey to the verge of money related disarranges that they have surrender their own cash and presented others like securities. Be that as it may, local people have others things at the top of the priority list, go to crypto uniquely bitcoin. In any case, the extent that different advantages it can convey to let say a country that is fiscally steady, similar to Japan, stays to be seen. Yet, in my view, the economy can at present develop in light of the fact that through bitcoin, individuals will have all the more obtaining power, so when individuals can purchase items, it will mean a nation having a superior economy.

I think the reason is because the government can not control bitcoin. And if we trading in bitcoin we may make a profit from bitcoin. But if the price of bitcoin is going down we do not panic and sell everything. Just hold it until the price up

Actually its so simple it helps to reduce the unemployment people because of bitcoin people drives them to use bitcoin to earn some income. So that if they earn using this they can provides their needs.

Unemployed people are the ones benefits from Bitcoin because it's hard to get a job in my country, more unemployed individuals try their luck here in crypto currency and the good thing here is that no matter what your status in life as long as you have goals and determination to succeed in life you can try this industry. And as day passes more and more people are hooked up in this trend that even your at home as long as you have the connection you can earn money.

I don’t think so that Bitcoin has much direct impact on the economy of the country. The adoption of Bitcoin is not so huge so as to affect the economy of a country. And the government has many reasons to ban the cryptocurrencies like it allows access to dark web, do illegal activities without disclosing the identity, money laundering, etc. also cryptocurrencies can threaten the position of banks.

I think if for bitcoin state level still not so far.
bitcoin helps provide jobs for the unemployed, and is also useful as an investment asset.

If my view of bitcoin actually have a positive impact on one's life because by trying to invest they have the opportunity to earn an income every time so that it helps the economy to be better than ever.

Those countries take advantages of bitcoin that legalized and accepted bitcoin. People will freely invest their money in cryptocurrency and the market cap will increase and so their profit. People with huge money can make their contribution for the betterment of the economy of their country. I am making money in crypto investment and I have demands from my government.

Bitcoin provides opportunities to earn money from their investment in it. When people have money, they will use it and the circle will continue. By this way the economy of the country will grow more and more. People will be happy and they will not put burden of unemployment on government shoulders. When it is centralize and government impose tax on the profit, the revenue will increase and the country will be prosperous.

WHY THE CAPS LOCK ON THO? I think bitcoin provides people with a currency that can not be controlled by the goverment and the regulations that dollars are so used to. Dollar is shaped the way what companies lobby poltiicans to shape it.

Unfortunately the richer gets richer and poor gets poorer in dollar markets. Yet in bitcoin there is only 21 million bitcoin, which means even the millionaires of the worth can't all have 1, there are more than 21 million people who are millionares, that means if all millionaires tried to own 1 bitcoin, they can't. It creates an equal opportunity chance to poor people and rich people.

 There is no direct effects on countries Economy from Bitcoin, This a Decentralized system of digital transaction, no government participation, it individual transaction on cryptro market,  Banned are implemented in some countries for simple reason they want to have control on crypto market transaction.

I believe that bitcoin has a great benefit to the economy of a certain country. Banning of bitcoin from a certain country is actually a mistake in which bitcoin can be an opportunity to the people to invest and earn money even without any investment involved such as joining bounty campaigns. People that do not have jobs may able to start themselves to get involved in bitcoin to earn profit and able to supplement the basic needs like food, clothing and shelter to their family.

You are right about the transaction cost being reduced by Bitcoin. There are more and wise advantages Bitcoin has like employing people by allowing them to invest the little they have. This was not found in the traditional market and Bitcoin imparted the financial freedom.

High profit is what everyone likes about Bitcoin. The fact that it is decentralized has made it more secure and blockchain adds further to the security thereby reducing the risk in the investment.

What do you mean by help you convince your government to accept the bitcoin?  ???

Its not your decision at all, though bitcoin is publicly accessible and anyone can use it then also its your local authorities who will decide whether to accept the bitcoin transaction within the country or not?

I think bitcoin is anyway unless for driving good economy within the country. Bitcoin is widely spread over the globe and thus it is not about any specific country because of which the wealth gets distributed +/- to each and every country that is using it. Thus its effect on the economics is really lesser.

Unlimited amount and distance transactions are one of the advantages of using Bitcoi, transaction costs are very cheap and even close to zero, this is certainly a very profitable thing if you want to send large amounts of money abroad that are very far away

the greatest factor why numerous nations forbid the utilization of bitcoin is a direct result of the exceptionally fluctuating bitcoin cost, consequently the legislature is extremely apprehensive that this bitcoin vacillation will influence the economy in that nation. while bitcoin has the best favorable position for the economy. fiat cash has diminished in esteem or in the economy can be called expansion, while the bitcoin esteem the more drawn out the higher. with the order of bitcoin the nation over, there will be no imposing business model on the utilization of cash and installments crosswise over nations that can be coordinated no esteem is squandered.

Saying that most countries have decided to ban bitcoin is a blatant exaggeration. Even in some of the countries where it is banned like India, people are protesting against the unreasonable move. The problem with some countries is that of tax evasion, for example in India's case the cryptocurrency boom of 2017 saw a huge amount of people gambling on bitcoin, as a result a lot of scams were setup and because it is unregulated the government had to take some action against it.

I think this censure is unlikely to hold in the future, as countries will realize that cryptos are something they just have to learn to embrace to fully utilize their benifit, even though they might seem scary at first.

Bitcoin has proven already that it will help those people who are jobless ,and want to join bitcoin for a living ,so if this people have earning so they can sustain the everyday financies ,so this peopke can have great effect to the economy,or can either help an econony of their country.

In my knowledge most of the countries still don't know how to regulate the crypto currency usage in their country so the status is still usable in their country but neither legal nor illegal.And some countries afraid that it can be used for illegal things so they announced that they banned the bitcoin from their country but no countries can stop bitcoin usage.Maybe they are against it because it is against the banking system which gives much revenue to the governments so they don't want to loe that revenue.

Here For me I will create a list that I see that will I thought would be helpful. Here it is,

1. Bitcoin would attract people's interest and they could be open minded to the world of business marketing.

A fact to day if your interested in bitcoin that you would live to earn you have to understand things about the numbers and in relation to bitcoin.

2. People would get a chance to invest on a project that is out of reach in there country that can only be use to pay with crypto.

3. If they will understand everything about bitcoin and othet cryptocurrency especially the business marketing they will earn.

Bitcoin benefits the economy through the investors because with the help of the investors, bitcoin price will rise and also in line with this the economy will also increase. So in other words , the investment of the investors are connected to the growth of the economy because bitcoin price will also increase.

Bitcoin benefit a country economy in a way of entering mpney in a country. They said the more mpney will come in a country the more economy grow. Thats why many country making more tourist attraction so people will come

bitcoin has a positive impact on the world economy thanks to the investment of many companies investing in the ico program and these programs will bring money that investors have bought coin to use to release the new product of the production plan

There are a whole lot bitcoin offers to the country. People can invest in bitcoin and it will be a great source of money for the people personally. I think introduction of taxes or revenue paid on bitcoin transactions will help the countries have insight and enjoy bitcoin the more.

Any economy should circulate money. if there is no money or profit from money in the economy, it is not interesting to the economy as a whole. As for the citizens who live in this country, it is interesting to them, because bitcoin allows you to not pay taxes for storage. That's it for this and there is a struggle between States and bitcoin.

I do think it could lower inflation.

If bitcoin is used as a currency to do transactions, it means there is another way to purchase a product, depending if both parties agreed of course.

Products and goods will be purchased more, meaning demand will raise too.

Most governments prohibit bitcoin because bitcoin is very difficult to control, bitcoin has its own path and the most influential is the unlikely bitcoin for taxes and the number of negative news about bitcoin out there.

Bitcoin money transfers are relatively low cost compared to international bank transfers. Sending money abroad using Bitcoin (or other Cryptocurrency) can be done without using any banking system.
Bitcoin can not be created or dumped by national governments and is therefore not affected by inflation. Citizens of undeveloped economies can buy bitcoins to protect their money against the devaluation of the national currency. The same thing applies to USD, GBP and Euro.

Wow, you are going to convince your government to accept bitcoin it is a great intention and I am wondering how are you going to do that? Are you a journalist or a public person or in your country you may communicate with your government freely? For example, in my country the officials do not listen to inhabitants and actually there are not working mechanisms which can affect on the goverment.
What about the benefits of bitcoin, you would better to read special articles which professionally explain you all the benefits of crypto technologies. By the way keep in mind, once the officials get to know that systems which are build by using crypto technologies are clear, safe and tracked then most part of them lose their interest because it is dangerous for them as everybody can control and examine their work. Anyway I am sure that crypto technologies will be used in many countries more widely because it is a progress which is impossible to stop. I would compare crypto technologies with electro cars which re replacing obsolete petrol cars.

Where did you take that data from? As far as I know Bitcoin status is permissive in most of the countries (majority of them are counties with good economical situation, EU countries and US). In most of the developing and newly industrialized countries Bitcoin legal status is contentious (e.g. India, Indonesia, Georgia). And there are actually only few countries that consider Bitcoin as illegal, like Algeria, Bolivia, Ecuador, Nepal and some others. Now, there's a direct correlation between the economy level in a certain country and BTC status there. As you can see the least developed countries banned Bitcoin, which is quite explicable, as cryptocurrencies may undermine country's economy. If citizens prefer BTC over national currency (and they will, because in this case they'll have more freedom) the price of it will fall, eventually crushing the country's economy.  

It is too private. Some countries do not want their government employee to use this as a means for money laundering which will be hard to trace. They should always be transparent. If bitcoin is known to them it will be a problem and they could rob money easily hiding its traces.



Convince your government? You might want to create something where they will sign it for agreement. Your countrymen will be the one helping you with this because the benefits will be most likely to yours.
Please not a rebellion.  ;D

Benefit will be privacy for users and also fast and secured transactions which is mostly needed now. This new world sucks, everything is live now to the public. Cameras and hackers everywhere. Bitcoin can keep us safe.

Bitcoin has an indirect role in the economic growth of a country, that is what the government does not realize. I am someone who is not classified as having a lot of money, but with the existence of bitcoin I have felt the great benefits of bitcoin. With bitcoin I can earn a good income and I have also been able to improve the economy of the family, this has not only happened to me because I have seen many people who have economically increased from bitcoin. Indirectly this has prospered the people in every country and of course the country's economy will increase and improve.

One thimg bitcoin benefit the economy is to provide income and other income to the people especially to the jobless people, because if this people will join the bitcoin and crypto activities , and work hard and have patience they will have rewards and turn it to income , which really benefits the economy, because people with no income can add problems to the economy ,so bitcoin can really as of help.

Those who are banning or have already banned Bitcoins in their countries are foolish in my views. I think the limited nature of Bitcoins and that its speed and transparency over transactions through blockchain is one of the main reasons these governments should understand currently. At a very wide pace, Bitcoin helps any country's economy, not currently, but will surely help them at a large pace once it gets adopted globally as a mode of payment because due to its limited number, it'll rise in the demand so high that those with the maximum amount of Bitcoins will be able to sell them at premium rates, gaining a lot more fiat for their country in the end. Many countries are also coming up with their own crypto, so as to get more Bitcoins by attracting people to buy their tokens for BTC itself - a great strategy to pull a lot of BTC from many different countries to one.

Because of the individuals get money from bitcoin and use the profit for buy anything that can help for everyday needs and also the government get taxes for the everything that you buy . Taxes is the important in the government to sustain the good development of the economy.  If we get more benefits in bitcoin so  government get benefits too.

This has been an ongoing debate for a long time and everyone is looking to find out how bitcoin can benefit the economy. At an individual level every knows that by using bitcoins once can avoid the taxes and transfer fee and other banking charges.

Well come to think about that this community is a very independent platform, this is very accessible , an open-source blockchain, decentralized , but a systematic technology which will offer people tons of profit, we can say that Governments see this forum as a threat for the people to invest towards banks which directly give a profit to the centralized system and actually Bitcoin doesnt affect the economy directly but the people instead.

I Guess they were afraid that people would just use only the Bitcoin in all their transaction and disregard their own money. Like here in the Philippines yes it is not banned but its hard exchanging crypto currencies to our local one why because not all establishments are well aware of the new settings.

After the investment in BTC, the price of BTC is higher and higher, and it also brings huge benefits, so the economy will also rise. That's the charm of investing in BTC.

Bitcoin is the key to world change. It will definitely change almost every aspect of the society, I bet. To cite, it could help deter corruption in the government. Through its open-source blockchain and its transparent transaction, people can barely see the transfer of funds between government officials, and it's non-tamperable. More so, since bitcoin is not owned solely by anybody, every hodler of it, rich or poor, has the power over it. So this will, again, be a big revolution in the shift of power in the economy, from the big corporations which monopolize the economy by using our funds against us to the lowest members of the society. Even those who are in the hem of the society get the chance to improve their living through trading. The profit in trading bitcoin is much larger than the interest rate than any physical financial institution offers. It also eases life for all of us, since it's just one click away to transact using bitcoin, and it's more affordable and faster than the traditional way.

I think bitcoin is very influential on the economy such as shipping from country to another country without a bank, which means cheaper transaction costs

Bitcoin's advantages put positive effect to many country economy growth. Bitcoin help to reduce the unemployment issues present in many country and this thing ultimately help to improve an country's economy. Bitcoin work as a bank in many developing countries. It is highly used as a money transaction purposes because of its safe secure transaction facility with low transaction cost. It also help individual people to improve their economy by giving them  opportunities to income.

But the governments of most of the countries have failed to understand the true benefits of bitcoins and they fear to deploy it in the financial system of their countries.But there are countries who know the power and future of bitcoin and they have made it legally accepted in their countries.

Yeah this is definite thing. When you have got maximum investors, bitcoin would flourish with respect to money incoming. That’s why the whole supply and demand rules is working since long time. More investors will shortage the supply because they would have some specific part of bitcoin, hence the demand increases and prices start increasing and this is how it works.

I think the benefits that bitcoin can bring to the world economy are many. There are a lot of advanced developing countries like the US, Japan they have put bitcoin is a legal currency. Many services in Japan allow you to pay by Bitcoin. In the United States or other European countries, they have set up ATMs for people to trade and buy bitcoins. Looking at nations where their economies are already high, underdeveloped countries should seek to open up bitcoins to their markets.

In my opinion, Bitcoin does benefits a country economy in a way of entering mpney in a country. They said the more mpney will come in a country the more economy grow. Thats why many country making more tourist attraction so people will come.

Forget it you are never going to convince a country that is in a reasonable economic shape to accept bitcoin unconditionally, the closest case we have is Japan and I think they are accepting bitcoin first because Japan is a country that loves new technology but at the same time the debt of that country is huge and they are thinking that bitcoin and cryptocurrencies in general will get very big and they want a big share of those profits so they can generate taxes and pay their national debt that way.

Bitcoin investment can make good profits. when the government does not take tax on bitcoin, at least all people can feel the profit from bitcoin investment and at least it can help the economy of the people in that country.

Well, We can not blame them to make a decision to banned bitcoin or cryptocurrency because it can be used as a tool to do some illegal activities. However, if people be responsible to use bitcoin or other crypto currency for sure some countries would not banned it instead they will accept it immediately. For me, if we want to convince the government our actions on using crypto currency will speak for us.

Bitcoin is Faster movement in terms of business aspects than manual, our new hi-technology is brings us to progressive economy to the highest level of standard if all people are aware on this it is very easy to transacts or subscribe whatever it needs so I hope that government willing to adopt bitcoin because we are always forward not going backward. 

What is the great benefits that bitcoin can give to the economy is the people that lives on the country that has no job to work, Bitcoin can really give them a new way of making money like some trading, participating in bounties etc. And I think it is really helpful to the economy that the people can get money to pay for their bills.

indeed there are still many governments that ban bitcoin by a variety of reasons, the most common reason being to prevent money laundering and the second to protect the value of the country's currency. but it turns out that everything is not right, the fear of money laundering is the wrong thinking with decentralized bitcoin the movement of money can be monitored very easily because each of us bitcoin owners can trace the movement of money from the beginning, about the fall of the currency of the country of origin if Bitcoin is recognized, this is also wrong bitcoin is only an alternative currency so its function is not possible to replace the original currency of the country because each has a different user ..

Do you think its easy to get money out of things that you mentioned above ? In trading you need a capital but how can you buy a crypto if you dont have a job ?

That is the time you will decide to join a bounty but the problem is that bounties are pretty random . you cant just join any of them and expect to get paid after three to two months of working too hard .

See ? Did you get my point ?  We still need to get up and apply for a real job , so that we can make money surely and we can then add cypto's as our sideline job to be able to earn extra income  that can  somehow help us on our daily expenses .

I think giving people the option to have their own currency is just the biggest feature bitcoin can offer in general. Bitcoin doesn't belong to any country, doesn't belong to any government can't be controlled by anyone and in general currency of whole globe and anyone wants to use it. That feature is more valuable than any currency can offer.

Dollar is important because USA is very big in the world and Chinese Yuan is getting more important because china is getting more powerful and euro is big because europe has more say in the world than they can chew however Bitcoin is not like that, it is just a currency that is as accepted as anywhere else in the whole world. That is why I think the adoption may take some time since we are not a country giving the law but when it does reach that final break point we will see a non return all bitcoin world.

I believe bitcoin benefits the economy by simply removing the possibility of fraud.  We all know that blockchain transaction is transparent.  We can see the in and outs of transaction especially in the finance system.  Every transaction is open to public and if practiced, corruption in the government will be minimal if not totally gone. 

I think bitcoin  benefits the economy though having jobs to the people. Like using the blockchain technology with a transparent transactions.

Bitcoin can reduce the number of jobless or unemployed people from your country in that way it can help the economy. It can also reduce poverty because people can make money in easiest way. If you really want to convince your government then you need to tell them the benefits that your country can get by simply accepting and adopting bitcoin.

Banning bitcoin and other cryptocurrencies is the decision they made because they don't understand the possible benefit that it can contribute to the economy. It's still too early to see that every country will start adopting bitcoin. We just can't please each of them, some will do adopt it and will understand the benefits that it can bring to them but some won't really understand and is unlikely to be open with anything that regards to bitcoin/cryptocurrencies.

Bitcoin not directly affect economy but it changes the whole scene of economy and for now the best thing is if you keep crypto with you for future now the investors have invested much of their capital in crypto, For economy it is affecting the population life standard and crypto is making people lives better.

In my experience, bitcoin and crypto currency in general can help the economy by pumping in more revenues in the market by providing more liquid assets to people thereby maKing them more likely to spend it in their country and paying taxes in the process. It is as simple as that! I just hope your government can see it that way.

There are some countries regulations against Bitcoin do not forbid and also do not tell, there are countries that make it illegal, for the economy I think Bitcoin is very profitable for its users only depends on the way the government responds positively to its people, I think bitcoinfor now the government is still positive.

It is not all crypto enthusiasts get their lives better because not all are successful in using crypto as a tool. Not all can do the trading very well as well as managing their investments. Also, bitcoin may not directly affect the economy but what about those who are unemployed because they decided to stick with crypto earning. Of course they would count as unemployed in the statistics right?

I think you need to learn more about bitcoin and cryptocurrency because bitcoin is a decentralized platform, no one can not control it even your goverment. Many bad organizations will take advantage of this and they may harm your national economy. Your goverment can be right when he have banned bitcoin
 

I think it will not help. the state doesn't like chaos and anonymity. The state needs such tools with which it can extract profits and benefits by managing them. Bitcoin doesn't obey the state, and therefore, it's not a fact that bitcoin will bring something good to the state. On the other hand, if the state, for example, buys a lot of Bitcoin with state money now, it will most likely earn on it. Since over time, Bitcoin will cost much more.

Bitcoin is good, but I’m. Sorry to say that most of the things that it has to offer are really bad when compared to the good it can offer. Bitcoin is giving more power to the dark web, that’s why a lot of people are against cryptocurrency. Some hackers can now block your computer and request you make payment in Bitcoin before its unlocked. Bitcoin is also used in money laundering and a lot of people the price is based on speculation.

Bitcoin has brought a revolutionary change in the history of finance and now  many countries have accepted bitcoin as a crypto currency , bitcoin has the potential to bring financial stability and financial freedom to all its users all over the world that can mutually benefit everyone, since the market can create a new stream of employment and business rounding the market, the countries can make use of it and and create new job streams thereby reducing  unemployment . The world is changing rapidly and the job that exist in the past may not be there in the market in future, so adapt and change to the new market opportunities.

I doubt that countries accept bitcoin so that all people have equal financial opportunities. Governments of all countries are ruled by rich and powerful people. And these people do not want financial equality.

It will help the remittance, in our country, there's billion of dollars yearly remittance from OFW and some of them pays a big amount of charges sending money at home. Bitcoin will solve their problem and transactions will be faster. It's just one of the problem that will be solve and I'm sure there's a lot to be solve once people will start using bitcoin.

Every country has rules of the game, whether it's the government itself or about cryptocurrency like Bitcoin, the state can be said to have laws in dealing with every problem many elements must be involved in taking policy on Bitcoin, patience may be one momentlater bitcoin will become a source of economy for your country.

Government need to legalize the use of bitcoin first so the business sector will start accepting it as legal tender. If majority of the people use bitcoin in their transactions, many merchants will eventually use it in their business. The economy will be benefitted from every bitcoin transactions especially if the price of the coin is surging. But government will surely impose regulation first before legalizing it. Bitcoin transactions will also not exempt from taxation unless there isca law that all bitcoin trabsactions is tax-exempt.

if the question arises what economic benefits are generated from bitcoin? then the answer is the same as other investment commodities such as gold, stocks and others that distinguish it only from the side of the form that is virtuous (non-physical) and the price movement is very significant both rising or falling, maybe that is the reason the government banned bitcoin, too risky if we cannot take advantage of the best opportunities

Bitcoin cannot be affected by economic crisis as it is a community based decentralized asset so I think local currency can be backed up with cryptocurrency most especially Bitcoin. Bitcoin is fast, convenient and  secure that is how it can help economies to mentain positive outcome to almost any countries that are going to adopt Bitcoin. Here in my country Bitcoin community is increasing every single day and I know it has good result to our economy as businesses, merchants and enthusiasts are contributing tax due to the regulation of local exchanges by central bank.

We can't convince the government through sharing our thoughts here in the forum but it good to share our ideas on how to help cryptocurrency be accepted by the community. Even without the help of the government, I know people with enough knowledge in cryptocurrency will continue to find ways to use it.

Right now Bitcoin has low US dollar volume compared to other equities. I think soon when BTC becomes widespread in everyday business it'll become a significant part of the economy IMO.

Bitcoin benefits the global economy in different ways. Bitcoin has introduced in the global market no body was expecting that the bitcoins potentiality has such wide depth in the field of the global economy. Bitcoin is a new form of economy linked with the modern technology. The popularity of the bitcoin ,and other crypto currency and the block chain are quiet popular in the financial market and its utility has been envisaged in the respective fields such as major financial institutions, banks , company and the government institutions etc,  By using bitcoin there are many advantages to the global community such as by eliminating the third party interference for the financial transactions . It is separating transactions from the dollar,Since Us dollar acts as the global reserve currency and it is being used in the main stream financial transactions .Removing the entry barriers to execute the initial public offers to collect funds ad suitably melting down the complicating regulations which enables the international transactions made easier.So the global community is attracting bitcoin.

It can benefited the economy in the way  of improving the current payment system.The traditional payment system is too slow and there are many delay transaction that are happening, bitcoin can improve the current payment system.

But it is also the fact that if the governments will come to regulate it in the favor of Bitcoin and its community then it will not have much risk. The fluctuations occur in all of the assets so here is also it exist. After the involvement of governments the fluctuation will reduce.

It's true that traditional payments are a little slow but not everyone in the world understands virtual currency because in some regions there are those who have never tried virtual money and internet networks.

besides that at this time many are rich in bitcoin results, of course there is a big turnaround of money, from those who are poor to have a lot of money, and everyone has different target needs, so that all sectors of the economy can spin with the proceeds from btc I think that's one simple example from me

of course it's not that easy for the government to regulate bitcoin, bitcoin is very difficult to regulate and control if you want to be truly safe and far from crime. but most governments don't care about the existence and benefits of bitcoin, which is unfortunate.

At present, the global market is rife and continues to grow so bitcoin provides benefits and convenience in transactions. As a developing country, it should be able to accept bitcoin well, because bitcoin travel is like a global market, if it does not follow the world trend it will become a poor country. By being ready to face the global market, bitcoin will benefit the economy.

So what is needed is to convince the government to be able to trust bitcoin. Maybe the government needs someone who is skilled in managing bitcoin to be able to accept it, this is indeed difficult but will slowly be able to accept it following the world trend.

Bitcoin definitely benefits the economy, yet not beneficial for governments in general. The use of Bitcoin cuts away a lot of taxes and government departments, which threaten to minimize government's roles and size. There are tiny little chances that expansive and controlling governments would ever adopt Bitcoin.   

Actually, bitcoin can make benefits for a country, one of which is the tax. But the government and the state are more afraid if bitcoin is misused such as money laundering and financing of illegal activities. so the government and the state forbid it.

Yes, bitcoin can help the financial system and end user gains a lot of benefits like fast transfers of money worldwide, anonymous transactions, no taxes and lot more. But unfortunately governments do not see anything of interest if they implement bitcoin as a legal currency and therefore they are against it.

The government that has not been able to accept bitcoin is because it has not been able to understand the performance of bitcoin and is not controlled, so for this, the government must re-learn bitcoin. Bitcoin will help the economy because according to the applied global market, all forms of transactions will make it easier, faster and more effective.

Bitcoin is also considered as financial tool. Digital crypto markets are good choice for liquidating cash to something  like untraceable financial asset. Economic booms are result of vicious circle of economy. During this peak times selling cheap assets and buying cheaper assets will be subject to speculation which is root of all evil.

Yes, if the tax is enforced, maybe the government will benefit from Bitcoin generated from the tax on bitcoin users, but it's true, because Bitcoin is a digital asset that is prone to crime. Because it is in the world of the internet, so the government may find it difficult to regulate it.

The main added value of bitcoin is digital transactions faster, cheaper and safer. This can happen because transactions occur in a peer to peer manner and are decentralized so they do not require third party services, such as banks.
Then with the speedy transaction means financial mobility is getting faster, the turnover of goods and services is also getting faster and the welfare of the population is increasing.

Because Bitcoin has been widely known by many people from various circles so that it can facilitate Bitcoin to enter the Global market. Therefore Bitcoin can become a promising source of the people's economy, so that the community can get economic income from Bitcoin.

indeed tax can prosper society, because the money collected by the state can be returned to the people for the welfare of the country. on the other hand, if the country currently has inaugurated bitcoin, of course many people will be rich

for me, actually bitcoin can also help a country's economy, and also an easy way to use investments and transactions, so that it can also help many people who have not benefited.

Prohibits massive credit infused crashes.

Bitcoin and the Blockchain have a positive impact on the economy of countries that accept and utilize it and the world's economy at large. With the Blockchain and Bitcoin there are job opportunities for the people. For example, cryptocurrency project development, Bitcoin mining, bounty management, forum development and management etc.

i think the benefit that i feel is bitcoin giving us more job choice also the payment using bitcoin is good with the decentralized system and secure

Faster transactions can happen through smart contracts. Implementing smart contracts can be very beneficial to society and letting people from different countries to make payments in just a few seconds (nearly instant).
Additionally, Bitcoin is going to offer new ways of working remotely and provide a new group of workers all around the globe.

If a country encourages the expansion of bitcoin and blockchain among the citizen it will improve their economy because with bitcoin the citizens can easily carryout business transactions with merchants across the globe.

it's easy, I see from an economic point of view as an ordinary people.
when a country with a number of people has a large income from bitcoin or other crypto currencies, the per capita income in that country will increase and with the increase in per capita income in that country indicates that the people's economy will increase and prosper, will that affect the economy country?

Bitcoin have big effect for economy and give more space for worker and people get much money with bitcoin, by using bitcoin as transaction and salary payment at companies many worker could get profit later after selling bitcoin at higher price.

I agree. with a rich society, of course the government will get more tax, so with a lot of tax and good management, of course it will benefit the people again, because there will be a lot of development and public facilities needed by the community, such as education, health, food ingredients abundant

Bitcoin makes a lot of people rich, and for sure those whales are already spending big money that can help the economy to grow more. There's no significant effect on the employment rate, since many crypto companies are not operating legally and most of the team member are just doing a part time job. Eventually if there's a regulation, we can easily know the effect of bitcoin in the economy.

Some people are just confused. What makes you all think that Bitcoin can make anyone rich ? Take for example – Venezuela, I’m seeing a lot of comments here saying that Bitcoin will save that country… quite funny some people don’t even make use of their senses in commenting.

How exactly is Bitcoin going to help these people ? Bitcoin is not free money, if it was, then all of us here would have become rich overnight. There is nothing easy here, you will even have to invest your money and trade or hodl it with hope that prices will go up and at the end, if it doesn’t, you’re left with loss.

So, you all should please stop deceiving yourselves. This is the kind of lies you all tell newbies that makes them think cryptocurrency will make them rich in seconds, to be sincere, it’s not easy and it doesn’t make anyone rich, you have to work for it.

And to pay for those high taxes we should plan to have something beneficial and life changed so that we will not be worry when government will decide to get more tax on goods we are using on daily bases, actually bitcoin directly effects our economy by providing more jobs opportunities and more ways to make money for better life, it reduced unemployment and almost finished beggars from my country.

Banning it won't work, sooo...

at least bitcoin is not tied to the dollar or other currencies so that inflation will not occur. it is very beneficial for the country, especially those who are being hit by the economic crisis.

That is for sure. Many people who get involved in cryptocurrency (bitcoin) getting rich because they can use the opportunity to make money from a new source. And slowly, when there is so many people can get wealthy from cryptocurrency, the country will get the effects too and it will increase the individual income so at least, it will reduce the poverty problem. But the government will make a regulation for the cryptocurrency because they cannot fully control cryptocurrency and they want to get the benefits of the crypto too.

But for that we need people to accept crypto currency payment so it won't much help at the time of if the fiat money crashed.But the decentralization can be really helpful for the people to save from inflation when it is adopted by everyone.

Bitcoin doesn't beneift the economy.The economy benefits bitcoin users,by pumping the bitcoin price. ;D
The governments that ban bitcoin are afraid of capital export outside of their border and money laundering.
There's no way to convince them to adopt crypto.

Providing new jobs and also services for new investments for the community despite the high risk but the existence of bitcoin remains helpful from the economic sector of society. this is a very helpful thing for people,

I don't think that all people can use bitcoin as a job and only people who understand technology know the bitcoin exchange, whereas today there are still many people who don't know what bitcoin is and how to use bitcoin.

The simplest and most important way that the blockchain technology and cryptocurrencies can help the global economy is because this technology offers transparency to the society.
However, as the time goes by and government and institutions do not adopt this technological advances I have started thinking that they do not want to be transparent to their people.

today many know about bitcoin, but they don't know much about btc. moreover there are many who fear, that BTTC is a bubble game, so they are not interested in learning it further

with the creation of new technology for more flexible payments, it will save you more money, for example when you want to use ATM transactions you no longer need to go out and increase the cost of gasoline, with crypto and bitcoin you will saving more

Bitcoin benefits contributing to the economy through different ways of inflow of fiat. The circulation that the market makes with regard to the fiat system makes a big change in the economy. Banks that are completely under the centralized platform have been experiencing a major loss and the same is being compensated by the cryptocurrencies.

I think it doesn't have a "macro" affect on all of economy but if you consider individual economy it has insane amount of benefits. First of all it manages to make every single person economically connected to each other, you can send 5 dollars from USA to India without any trouble at all, try to send 5 dollars without paypal from one country to another and you will see that it is highly difficult to do and even with paypal there a lot of costs involved whereas with bitcoin all you do is wallet to wallet transaction.

It means the world economy is now connected to each other wherever people are living, now if you are a huge corporation of course that wouldn't bother you but if you are just a regular citizen it helps the economy of each nation a lot as long as they are willing to have relaxed crypto laws.

The development of the blockchain system and also been the important for economy why I am saying this if we move on to a huge technical- developed situation then it will need a beneficial digital currency so I think Bitcoin will be more suitable for that to convenient every people to manage his life more effective.