Bitcoin Forum

Until now, the surge in cryptocurrency markets has been a sideshow to the financial markets or the real economy. Prices have gone up a lot for bitcoin and other cryptocurrencies.

1. Increase economic income by cryptocurrency?
2. The Cryptocurrency Market and How it Influences Our Economy?
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What do you think?

The Cryptocurrency Market, specifically Bitcoin, has changed my life a lot by buying at low prices when selling high, I do not need to do anything other than trade bitcoin. I'm glad to hear about bitcoin.

After the strong fall, bitcoin today has risen back to $ 7,719 / BTC. Bitcoin is my life, thanks to bitcoin my life has changed a lot. Many people get rich by bitcoin and other cryptocurrencies. ;D ;D

Cryptocurrencies are already disrupting how people send money to each other, specifically because they don’t need to have bank accounts and can bypass the fees typically charged by money transfer services. Currently, non-cryptocurrency transfers happen with the help of the Society for Worldwide Interbank Financial Telecommunications (SWIFT).

SWIFT doesn’t transfer money. It only facilitates a channel of communications between banking institutions. And, the SWIFT technology isn’t efficient, which sometimes results in transfers that take days to complete. In contrast, cryptocurrency transfers between people in two different countries can occur in seconds with some providers.

You talk correct, bitcoin are positive, please wait.

I expected that from the time to the last year 2018 bitcoin will be going to continue and reach $ 20,000

Cryptocurrency determines the economics of the trader, so many people only spend time buying and selling Cryptocurrency and see it as their primary job.

Until now, it's been easy to scoff at the cryptocurrency boom, or ignore it if you weren't interested. But as the rally has spread from bitcoin to other coins, from those other coins to companies touting links to cryptocurrencies, and potentially soon those companies bidding for resources in the real economy, we're going to see cryptocurrencies impact the real economy.

But companies with publicly traded stocks are starting to make decisions to show that they stand to benefit from cryptocurrencies, and markets are beginning to reward them in a big way for those decisions. Should this continue, people not involved in cryptocurrencies will suffer when there's a crypto bust.

In my opinion, cryto currency influences our economy in term of creating job to people. They found money making possibilities by working as cryto currency miners. Cryto currecny reduces dependency on Banks and Money transfer. Purchasing with the use of cryto currency is very accessible.

To people who have strive to learn how the market goes with the current uptrend and downtrend that is frequently happening and learning how to make profits is really a big influence economic growth to countries that quickly adapts cryptocurrency. Hopefully many countries adapts it because it bring more economic growth than harm.

It doesnt affect global economic because the money that is flooded into the crypto currency is insufficient for it as compared to the worlds trillion dollar market.

On national level there might be some effect because huge amounts of money is flooded in the market and is locked up by big investors. This might give little (very little) stress over the fiat in that local region. As such I dont see any major adverse effect of it.

The financial growth of country depends on various factors and crypto currency is just little part of everything.

The cryptocurrency market doesn't influence the economy,because it`s just too small.
It has to be more 1 trillion USD worth in trading volume and market caps,in order to have any significant inlfuence over the world economy.There`s no such term as "economic income".What do you want to say with this term?

Agree with you!

The effect of some cryptocurrency is terrible for the economy, especially currencies that have no value or have no specific goal.
If we need cryptos, creating more than 1,000 coins/tokens is useless. I believe that 99% of cryptocurrencies are zero.
Some cryptos worth $ 0.0005 and then tapped to $ 1 and others in the process of creating money from scratch, so if any regulation/collapse happen, most of these currencies will return to zero.


The effect is currently limited to individuals so you do not invest what you can’t lose.

Cyptocurrency is already influencing the market for graphics cards and microchips. For example Samsung has entered the bitcoin mining chip market.

World Top 5 Economies:

USA $20,400 Billions, China $14,000 Billions, Japan $5,100 Billions, Germany $4,200 Billions, UK $2,940 Billions
Total: $46640 Billions

Cryptocurrency MarketCap: $300 Billions (This is also fictitious data and real spread is too less than this.) 

So when we compare two, Worldwide Crypto Economy doesn't even contribute 1% of the Top 5 Economies. It is still too soon to predict any impact of cryptos on World Economy. In reality, cryptos are still not contributing anything to World except income alternatives to few thousands people and crowdfunding to few hundreds of project. On the same note, the most disruptive technology of 21st century 'Blockchain' is still underdeveloped and future is also not looking any good when most of the countries are against cryptocurrencies & blockchain. Even the insiders aren't much concerned about developing it, they are just aiming to make money and spamming blockchain rather than contributing anything to it.

Crypto can affect our economy because with its cryptocurrency we can earn money and make money. That's why cryptocurrency can help my economy.

   The era of materialism has long been irrelevant. Although every day, realizing our foundations and dreams, our needs nevertheless demand from us with the word "here and now". Cryptography is the key to fast queries. The good it also develops significant steps. Leaving the Fiats behind, and overcoming the new frontiers of "restriction." Obviously, the current market will be significantly dominant, after the implementation of quantum technology. As an example, the Kelvin Blockchain (https://medium.com/@kelvinchain/the-post-quantum-era-of-blockchain-todays-solutions-for-the-world-of-tomorrow-16bdd970f49a) project is based on quantum computing, which is already an innovation!

I liked this answer very much. It has all the data that is needed to compare the reality of the crypto currencies. After reading this answer I am really feeling very tiny in the crypto space and it tells us that this is nothing as compared to the worlds biggest countries and their economies. You can not even compare the market of crypto currencies here, lolz. If we want to see any effect of the crypto currencies over the national or global level then it needs to make bigger movement here, they need to be invested 100x more than the current rate and might just take another decade or so.

I think so. It affects our economy in creating jobs for everyone. They find the ability to make money in whatever way they think.
Electronic money will reduce dependence on banks and money transfers.
Trading with electronic money is very easy to access and convenient.

I very like answer of you. The data and needable

Over the last year, network congestion and skyrocketing fees have alienated businesses that used to have BTC as their payment method of choice. As a result, merchants who used to accept purely BTC were forced to add other cryptocurrencies to their payment options, with some completely dropping BTC altogether. In fact, even the black market on the dark net—one of Bitcoin’s earliest fans, have ditched BTC in favor of more functional cryptocurrencies, like Dash and Litecoin.

Bitcoin does have its obvious limits. And it is this lack of flexibility that had users wanting more, and pushed Ethereum into birth in the first place, with more new blockchains emerging shortly after. Stellar, Ripple, Dash—the list of newer blockchains goes on and will continue to grow longer as private blockchains add even more to the mix.

Four Cryptocurrency Future Scenarios
What are these possibilities?

1. The Federal Reserve could issue its own digital currency, as some global central banks are exploring.
2. Large companies such as Amazon, Walmart and Starbucks might issue digital coins that inspire trust and gain wide acceptance.
3. Retail giants, by accepting payments in the currency, could elevate Bitcoin, Ethereum or another cryptocurrency above the others vying to offer safety, soundness and utility.
4. Finally, if  trust is lost in government-backed, or fiat, currencies, a cryptocurrency future could come about by default. That may be a risk not only in places like Venezuela, but in the U.S., where federal deficits are spiraling.

This is absolutely true, but I guess all people want to change something in blockchain and other people only want to gain a lot of money from it by making many useless coins.

Think of it like this: If a futures contract costs more than Bitcoin, you could buy Bitcoin, and sell a future contract at the same time, then, when the contract is up, you deliver the bitcoin for the agreed upon price and therefore profiting on the difference. This is called “cash and carry” arbitrage.

I agree with think of you!

My Pleasure  ;)

I think that crypto technologies will not increase the world economy sufficiently in the near future because crypto technologies are just technologies and they do not produce a new production. Using crypto technologies countries and businessman can decrease its expensions and improve business processes. And another important thing that crypto technologies are not currently wide used and it need to spend some time until they will become wide used.

The questions you ask are highly debatable and is of normatic nature. By Normatic, I mean, the statements are based on opinions and not facts. It may or may not be true.

1. You cannot actually determine the increase, it cannot be calculated at all. Because you'd have to report your earnings from crypto, and most of them don't and most of them lie. And each country has its own intake on crypto, so no use.

2. Its an interesting question, crypto has influenced a lot of people, in a good and bad way. Almost 80-90%(personal opinion, is subject to be totally false) of the people think crypto is an asset. Assets don't influence economies in a direct way. Economies don't take crypto seriously, so in paper crypto does nothing. But in reality, its totally different. More than 300,000,000,000$(market cap of crypto) have been put into the world economy, and that is no small amount. So I guess you have an answer.

Blockchain and bitcoin are suitable for every industry. I am working in the field of insurance and finance and I am waiting till blockchain will change everything. I hope it will happen soon. I have found one project Socratus. It is an insurance ecosystem which provides a digital platform with instant claim payment products for insurance companies. It is designed to help insurance companies to save their money and get their business on a new level. For instance, they can help the insurance company to lower expenses from 15% to 25% on claims handling and operational expenses. Basically, they work with different kinds of insurances such as e-commerce, cyber insurance, personal accident and etc. Moreover, they are powered by Smart-contracts & Socratus Oracles. I think this is really cool and it seems like an innovative and demanded project. I hope I helped.

Yes.Since only few of the people in the world have known how to make money from bitcoin,then i don't think that it will totally affect our economy.Maybe in our own life's economy it had made a big growth,but when it comes to the world's economy,bitcoin is still just a very small factor.But maybe in the near future,it can already be the biggest asset for its economic growth if bitcoin will be exposed positively to all the nation.

I think in the near future,it can already be the biggest asset for its economic growth if bitcoin will be exposed positively to all the nation. Bitcoin will change life everyone

There was news on CCN that the first physical exchange of BTC between two parties after expiry of a BTC futures contract was done for the first time. I think thas a start in building a road for BTC to become intertwined with a country's economy.

The cryptocurrency always affects us on two sides, it can have a positive impact on the economy thanks to the capital mobilization programs for business and hence the economy will grow.

Yeah I don't say that whole world is reacting on things that are going on here on cryptocurrencies market, I know that some of the countries are considering bitcoin as serious stuff, but yes there are many countries who think that bitcoin will pass soon.

Cryptocurrency market is actually influencing different people in the corporate world to invest and the prices in the market that keeps on increasing makes different people to purchase cryptocurrency.

For me we are not able to see any big changes YET but in future we will feel how crypto change our lifes and economy in our country if this part of it will be still developing that fast.

Blockchain technology which is the core technology behind cryptocurrency is undoubtedly described as a major disruptor of the global business process. However, it does seem like a lot more attention is being paid to cryptocurrencies than to blockchain technology.
The global economy primarily relies on the US Dollar. This is the summary of the dominance of the United States in global economic. It is for this reason that any upheavals in the US financial market always sends shockwaves around the world.
With the emergence of Bitcoin and all the over 1,000 cryptocoins, financial transactions are being decentralized on a massive scale.