Bitcoin Forum

Bitcoins have three useful qualities in a currency, according to The Economist in January 2015: they are "hard to earn, limited in supply and easy to verify". Economists define money as a store of value, a medium of exchange and a unit of account, and agree that bitcoin has some way to go to meet all these criteria.

Do you have the correct source for this quote? I would like see it.

Hard to earn - this is incorrect. It is very easy to earn provided you have money to buy it - that is speaking in terms of owning it. If you talk in terms of employment salary in bitcoin then its somewhat of a niche here and other freelancing sites with bitcoin as payment mode.

I think a bitcoin based economy will never happen completely. It will always be a mixture of fiat and bitcoin because both have their specific and fundamental properties which serve different needs. Of course some people will never accept crypto and so they will make sure that it never reaches or have difficulty in reaching mainstream.

One of the best transaction today is with the use of cryptocurrency because many people want to use the crypto or the bitcoin because it is faster to have a transaction and today there are a lot of people want to make bitcoin as the primary or secondary payment to the bills, services and other things with the support of crypto. As a person does not want to lose their money with the use of cryptocurrency we want to adopt the use of it but still, there are some country does not accept with the use of bitcoin or crypto as a payment still the adaptation of the bitcoin to the economy are still not supported to improve the economy.

I cannot understand the reason behind the article of The Economist claiming that Bitcoin is a good currency because of its being hard to earn. A currency that is good should be easy to earn. Otherwise, the majority of the people would have a really hard time getting that which is very basic for them to be able to buy their needs daily. I would say Bitcoin is now hard to earn because its value is ever increasing in terms of USD. However, that increase in value will also mean its purchasing power is also increasing, provided the price of goods and services are not inflating at an equal pace.

The rest I agree. Instead of easy to verify, however, it should be verifiable at an instant.

Bitcoin or cryptocurrency will have a huge impact to the economy because of the faster transaction that it offers. The faster the transaction we have the higher chance that the economy will also move faster so this one would definitely work. You can transact whenever you want as long as you have an internet connection that will make every transaction easier.

Yes limited in supply but they can always fork in order to create a new coin which i think can be consider as an extension of that cryptocurrency also a cryptocurrency is a decentralized cryptocurrency and if there's a big crypto holder he/she can managed to manipulate the market whenever he/she likes. I would say that the blockchain technology is the best thing that i can think that can be good for the economy, if you're going to observe the cryptocurrency industry all of the project are based in blockchain technology and it's not limited you can use it to finance, security, etc.

Bitcoin is not hard to earn and so the analysis on it with economist does not follow up. I will rather support the idea that it is off shoot of blockchain technology and also used as digital currency.

definitely yes,cryptocurrency is a secure easy and cost effective way to perform payment which is providing by a modern technologies,the process is suitable for trading and  investing digitally because of their potential investment programs,i guess the economy were grow by gathering information from a multiple networks which is considered as a legit and authentic profit way to earn secondary income

It's actually rather easy to earn BTC. As long as you have the funds, equipment and time that is. Also, I doubt it could act as a store of value. Sure, it could be a medium, but as a store of value? Nope. It's way too volatile. And even if you consider that the supply is limited, BTC transactions could approach the number 0 and never reach it. Just like how it was said in here:


So even if the supply IS limited, I doubt it would stand at a single price for the long term, since the supply changes every now and then because of lost wallets/ hacked accounts/forgotten accounts and other stuff like that. There needs to be a solid store of value right now like USD, and stand together with BTC to form an economy, is what I think is needed.

Just Google "the magic of mining" and an article from The Economist will pop up.

They were talking about mining, and from the previous sentences, i believe they were referring to how hard it is to get the block reward (25BTC in 2015) since it's pretty much a "race" between those with a lot of resources (mining equipment).

I think the same! Earning here means mining! And we all know that mining is not at all easy these days! The kind of equipment and investment it requires, can only be arranged by the deep pocket individuals. So in this sense, earning bitcoin is hard, really really hard!

During initial days of bitcoin, it was easy to mine by individuals! But not anymore! So the benefit of bitcoin can only be reaped by some selected individuals right at the moment. Late entrants are still struggling to get their share of pie!

Yes @Darker45 i read this post on wikipedia, but i didn't satisfied with this "hard to earn", I think they are referring hard to earned, block rewards by mining,

Yes @tomahawk9 exactly, in this article they are referring "hard to earn bitcoin" is by mining and their block rewards, we all know that mining requires a lot of equipments which requires a good amount of investment.

Of course, Bitcoin is good for the economy.
It gives the opportunity to people who do not have high salaries to work from their home and get paid in higher rates, eliminating inequalities between countries and regions of people who leave on different places.

When you are disturbing the rich and elevating the poor there will always be some troubles. Just to give an example when the world workers went on a strike for 8 hour days for example (which doesn't apply everywhere even today) we have seen what could potentially happen, companies didn't profited and they started to adjust in a way before the strike that if workers didn't worked 10 hours a day they would lose money and close shop, hell a lot of them actually bankrupted and went away as well.

However what happened? In many of the free world people are working 8 hours nowadays (or 9 at most, otherwise if you work more, your company does something illegal) and in the end they adjusted and now they are all fine with the 8 hours thing. Bitcoin is like that, it will level the playing field for the rich and the poor, rich will do everything they can but eventually we will prevail.

who is that economist and why only on the year 2015 ?  what about older than that year and newer than that  year  ?   .btc is not hard to earn but its easily obtainable  . limited supply yes 100 percent correct but easy to verify  ? no i dont think so  .  but i agree on the other three uses of bitcoin mentioned above  . bitcoin is  useful so yes it is good for the economy  but depends also on the country because some are against with this bitcoin  . why they cant wake up and accept the truth that bitcoin is good  .

Its not hard to earn if you already have the knowledge about bitcoin, imagine buying this one in just a minute and use it for your future financial transactions. Bitcoin is good for the economy if you’re an investor but if you are on the side of the government then you’ll not allow bitcoin to enter in a major market. The limited supply of bitcoin makes it more unique and expensive crypto as of now.

Lets just go down to the basics of how economy works for a country. If Bitcoin as some kind of payment for their citizens to earn in exchange for their service, jobs, or business then it will definitely help an economy of a country. The influx of money entering the country alone means that their country is having a portion of the limited supply of Bitcoin the government also doesn't need to print out more of their fiat currency as Bitcoin can also be used as money. As long as that country's citizens are earning from Bitcoin directly or indirectly it safe to say that Bitcoin is helping a country's economy grow.

Still boils down as to how people are going to used their bitcoin, do they want it to become a store of value? Or when merchants started to accepting Bitcoin as payment scheme, will people going to used it?

So this kind of arguments/counter arguments are moot in my opinion, as Bitcoin or crypto are really challenging the way old economic systems are being viewed upon, IMHO.

Making Bitcoin Made Easy I do not think they're "hard to earn  Bitcoin will have an impression on the economy of the country through digital currency and blockchain it'll depend entirely thereon on the country and therefore the government. There are many countries where crypto doesn't support  therein case  if the govt of that country supports it then the terminated Bitcoin economy is sweet.

Isn't it if limited supply will cause scarcity, I mean there must be a condition where some people lose their bitcoin. as far as I know in terms of the economy of bitcoin it's not very good and has different things than fiat. in the government economy there are also specific things that govern the amount of money and the economic conditions of the government.

I do not know about the quote and the source of the quote that you share it.

maybe according to the OP when in 2015 the price of bitcoin was still very cheap and he was late to buy bitcoin and doubted the supply of bitcoin which was already valid was only 21 million pieces of bitcoin with high demand that could make the price very expensive.

well I am a little doubtful about good bitcoin for the world economy because in my opinion when the price has become expensive and when it is very difficult to get bitcoin then the price will be expensive and shipping costs will also increase so that it will make people think when they want to make transactions using bitcoin.

Making money depends on individuals,if one knows how to earn money then its easy for them to acquire bitcoin in matter of minutes so it all depends on their skills.And its easy to transfer as well,some say not every corner of this world has internet access so bitcoin is not the right thing to be accepted as currency.But to be honest before 10 years we now uses internet for everything and still getting adopted by people from remote corners so in few years internet availability won't be a problem.

Then the important one storage of value, which might lacks in bitcoin because its highly volatile but every currency in this sector broken their promise with inflation climb up every year.

definitely yes,cryptocurrency is a secure easy and cost effective way to perform payment which is providing by a modern technologies,the process is suitable for trading and  investing digitally because of their potential investment programs,i guess the economy were grow by gathering information from a multiple networks which is considered as a legit and authentic profit way to earn secondary income

A unit of account is the primary function of money

Conceptually, money itself can be defined as a dimensionless (i.e. with no physical measure assigned to it like length, weight, time, etc) valuation system. Then such functions as a store of value and a medium of exchange emerge when we are dealing with the instantiation of this system in its particular form (e.g. fiat money). In other words, they are derivative functions that come about as soon as money takes a concrete form   

But while Bitcoin can be used as money, we still can't consider it a full-fledged currency in and of itself for the simple reason it lacks the property of being used as a unit of account in real life. Till now, it is no more than a payment system and a proxy medium (token) for such currencies as the US dollar, Euro or whatever. And this is its current economic role, good or otherwise

Yes bitcoin has a long way run in order to meet those criteria which is those three, but the fact that bitcoin has the criteria of hard to earn in which it is very hard to earn 1 bitcoin because the value of it is kind of high and we also know that bitcoin is only have a limited supply meaning there is only a few of bitcoin that is revolving all over the world the thing is, bitcoin and other cryptocurrency are almost there we just need to wait in order to see what it can do to the economy of a country. And because of that we can say that bitcoin is really good for the economic growth of a said country.

Imo bitcoin lacks of 1 highly needed quality of currency is usability. At this point bitcoin is volatile and so is a thing to gamble around, so its not a good investment either

I believe there could be a space carved up for bitcoin, we could make the economy work with bitcoin helping close the gap as well.

Bitcoin is a technological improvement on what we already have right now, centralized currencies are giving only few people some power and we do not want that, nobody really wants that, however with bitcoin everyone has the power or at least we say it like that yet when you think about it if world powers get together they could completely destroy bitcoin as well.

If China and USA alone just decided to ruin bitcoin they have enough money and power to just spend billions of dollars into research and then attack bitcoin together in a coordinated way to destroy it, they may make some people very very rich along the way but at least they could destroy it. So, we have to learn to coexist or the future doesn't look bright.

It isn't only in the hands those big anti-Bitcoin bodies to destroy BTC but those bigger wallets. Did you ever think what will happen when the day comes and Satoshi ever decides to dump all his BTC? Worst nightmare, eh?!? But that's not gonna happen because he loves BTC, same way everyone holding BTC and not dumping it have some specific reasons why they are not yet out of the game. Bitcoin is not just good for the economy, but it should also become a part of economics and should be taught as a subject that how something too small, became large to such an extent that even the destroyers are not willing to destroy it because they are reaping the real benefits of Bitcoins - that's the power of Satoshi's fantastic creation.

About 'hard to earn' I think it is something that might be wrong because bitcoin has become easy to earn in the current era because with its continued growth of course the ease to earn bitcoin can be proven now, the government in this case has indeed become an important part because with the regulations that he has made at least nowadays many countries have legalized bitcoin, so that bitcoin is good for the country's economic growth because bitcoin is very useful to be owned and used for transaction and investment purposes.

I don't get the main point of this but bitcoin is indeed good for the economy if it's being used in a proper way. Having Bitcoin circulating in an economy is good enough but it's a subjective answer depending on the person if they find bitcoin useful. For me Bitcoin is useful and it's a good contribution to the economy. I also agree that Bitcoin have meet some criteria for it to be considered as a currency but one thing I've noticed is the statement about Bitcoin being hard to earn. If you will think of it, bitcoin isn't that hard to earn. You just need to invest or work for it and it's the same for paper money. But if you look on the other side, both bitcoin and paper money are hard to earn. You can't just gain it without putting efforts. However in general, Bitcoin itself isn't hard to acquire if you want to.

Bitcoin is very good and we all love t due to how it is; from being easy for making transaction, not being manipulated by the government and also having to pay lesser fees for the transactions you carry, that’s really cool. But, I have once been in a conversation and the conclusion we came to was that Bitcoin becoming the world currency might be disastrous for the economy. Fiat might not be something we like due to several reasons from being controlled by the government and other reasons, but still it has features that makes it seem better.

According to a research, most of the Bitcoin transaction is by people who are using it for illegal purposes, and by doing so they are able to hide from the government. The Bitcoin system can’t be controlled by the Central bank as they do with fiat, that means there’s no way to deal with financial crisis, manage business cycle, etc.

It's true that bitcoin is good for helping the country's economy grow. Because bitcoin can be used to make money, then I don't agree if
bitcoin is hard to earn. Not only can it help to make money, bitcoin can also be used for payments like the function of currencies in general.
The current obstacle is that the government cannot control bitcoin so it is very difficult to make bitcoin is legal in some countries.
But I believe that sooner or later bitcoin will be legalized in all countries, if users it continues to grow.

Bitcoin is usable as soon as it was created. What you speak of is lack of merchants accepting bitcoin and this will not increase unless something more lenient approach is done by governments. The fact that bigger companies dont like crypto is evident here. So it is better not dwell on that thought and use bitcoin as much as you can without hoping for more "uses" than speculation.

Prices did not change much last 2months. It has been between 10k to 9k USD and is pretty stable if you consider buying something worth a 100$ price tag. The "too volatile" is a phrase used by nocoiners to take people away from crypto. A 5-10% swing in price will not have significant changes in your expenses provided you are not spending in the order of millions.

agree, after the growth of bitcoin many countries that can accept bitcoin have positive impacts. because inevitably that bitcoin can help the economy that follows. and countries that have legalized will also get direct contributions from taxes and indirectly become foreign exchange earnings. indeed, the constraints of each country are different, therefore there must be regulations that must regulate it. obviously bitcoin really helps lift the economy.

I think it will not be the same as money.

As the Bitcoin that we have now, it is a store of value, well it depends on how that person look at it. A lot of investors are holding it thinking that it will be something good to sell in the future. If that will always be the case with it, I don't think it would be as good as you think of in the future. It will be expensive probably but not be something that could be used in the country regularly.

This is hard to answer because Bitcoin isn't formaly part of any economy system in any country.
It's not regulated as such, it's not formaly used by businesses and industry so it's hard to estimate what is the actual effect on economy.
I can say that it can help on an individual level because persons who are involved in Bitcoin trading or any other Bitcoin business can definetely benefit from it.

But it doesn't make this effect less real, right?


And that's the exact reason why Bitcoin is necessarily part of any economy, formal or otherwise. The economy at a nation level is an abstract concept represented by the public sector, businesses, households, and individuals. So even if the public sector is not involved in cryptocurrencies, the fact that people can benefit from them is as important

And let's not forget that there are many ways Bitcoin and cryptocurrencies can affect the economy. These ways can be direct (should be self-explanatory) or mediated. For example, people who are going to collect as many bitcoins as possible are likely to have less fiat in their stashes, so more fiat ends up circulating

Bitcoin good for economy because can increase how many people get much profit from investing in bitcoin and altcoin, now how many people could manage profit with bitcoin and altcoin as their investment way.

Is it good to economy? For me it really is :). In my perspective, since I can be able to uplift my financial status through the help of it then it only means that I am not a burden in our society. Since I'm not a burden thus I maybe considered as productive and healty part of our country; and if there will be many existing individuals who got the same story like me then it definitely means a good economy :D (I hope you got my point tho).

That's why I really wonder why some government (not ours, fortunately) really hate crypto. How sad that they just see the bad side and disregarding the bright side :(.

Limitations are good for the economy, the more deregulations happen the worse these companies get, there are some "economic liberals" in the world who think that liberal ideas of freedom and so forth apply to economy where a company can do as shady things as they can but that should be allowed because that is "liberal", that kinda already happened with China deals for example, the whole world started to make things produce in China and that powered China amazingly while keeping the people in our nations poor since all the jobs went to china whereas companies still made profit because they could make it cheap, instead of actually hiring people in our nations and allowing them to earn while making things more expensive but also quite accessible since there is not jobs everywhere.

Bitcoin could prevent that by removing all regulation problems and allowing people to use decentralized money without governments interference at all.

As I read some articles about mass adoption about bitcoin, most people are having a good feedback about it. We can't deny that bitcoin really is a good digital currency and altcoins are just an alternative.

Probably, the answer to you question is YES. In the country that accepted bitcoin as a currency, some merchants or markets are accepting bitcoin as a mode of payment in some transactions. Although bitcoin is very volatile, some traders are there just to store bitcoin until it increases its price again.

As the demand about bitcoin increases, it is more likely to give a big impact to the economy. Bitcoin is the most used cryptocurrency and I know that a lot of people are guaranteed to promote bitcoin in some part of the world to improve mass adoption. By that, economy of that country will improve and undergoes development.

Maybe that's because they are of a different opinion?

If we proceed from the assumption (which looks more like a fact to me) that all cryptocurrencies apart from Dogecoin, to a certain degree (yeah, you read it right, Dogecoin), are a zero-sum game, you increasing you wellbeing via Bitcoin comes at a cost, more specifically at someone else's cost or expense

Which means the net effect for the economy is not necessarily good or positive overall since if there are winners like you and those like you, there should also be losers, a sine qua non for a zero-sum game. And for them cryptocurrencies might have been quite a disaster. This is the other, not so bright side of the crypto economy

The main advantage of Bitcoin is fast transactions. It will let the economy to gain its potential and evolve. Being hard to earn is also among the pros because it makes Bitcoin valuable and accepted.

Some usually say that Bitcoin or other decentralized cryptocurrencies don't have too many useful purposes. I bet when crypto becomes very useful some will scream that it's taking over the world and destroying their currencies.
Well, I think it should exist side by side with national currencies. If people decide to go for what is "really" safe and good for them, it will be immoral & unjust to prevent them from doing so.

Despite that fast transactions, people don't usually use Bitcoin.

Also, I think it will not make the economy develop or evolve but with the help of blockchain technology, it might be of help in a way for the country. It is valuable but that doesn't really matter since as long as a small population is using it in the country, it will not matter at all.

People still prefer fiat, they still prefer transactions through banks, Bitcoin may be convenient in our remarks but with the worldwide number, its placement is probably not too high when too many restrictions and prices change too randomly, and this will answer that bitcoin is not so good for an economy when viewed globally. But if we look at the individual level, perhaps too many numbers help us know that bitcoin can create a huge amount of wealth for an individual, but it is not entirely true, Bitcoin is only good for individuals who are qualified to use Bitcoin as a tool

How come that has some way to go in order to meet all of those criteria? I believe that began is already hard to earn and has only a limited in supply of the market also it is hard to verify so the last criteria is only the one that is having a hard time for the bitcoin in order to beyond currency all over the world. If the economy is define money as a store of value then bitcoin is also a store value in which you need to store bitcoin in some wallet or exchangers to have a amount of it otherwise bitcoin is really good for the economy because there is already some countries that are accepting bitcoin and they are all having a good economy and their economic growth is increasing.

It is not that they prefer it, they don't have a choice.

Online stores from merchants are not accepting Bitcoin because of the fact that they are scared of what it can do harm to them. From scams and its volatility, they would just stick with what they are used to pay with. I guess it would be different if Bitcoin and cryptocurrencies are regulated but I don't think people would be liking that.

What is the sole most important thing in the economy?
*People
Bitcoins and other cryptocurrencies are :-
*Providing jobs for them
*Giving them an option to save money away from banking Monopoly
*It's easy to buy and keep , no need of excessive documentation
*It's bringing revenue , no matter how small

I do think it is good for economy.

That remains to be seen

It could be argued that merchants are not accepting Bitcoin because of the lack of demand for their goods or services paid and priced in this cryptocurrency. In other words, it is not merchants that are not willing to accept Bitcoin but rather consumers not particularly inclined to pay with it (read, you may be confusing cause and effect here)

And that also explains the insane levels of volatility we see. If Bitcoin were used to facilitate the exchange of goods, i.e. used as a payment option and not a vehicle for speculation, volatility would go away. but it does look and feel like a vicious circle of sorts, I agree

Bitcoin is really good for the economy because it can lessen unemployed people in a country, so that they can pay their debts and provide all of their basic needs and pay their bills, that is why i can't understand why governments in other countries don't trust cryptocurrency to be legalized.

if its hard to earn and has a limited supply then why its considered good for the economy ? what about fiats and other currencies  , they have unlimited supply although they are still hard to earn  . you need to work for them to earn them just like bitcoin  . and what can bitcoin do to the economy to be call it good  when bitcoin is only an online currency   . good for the economy is something that is helping the economy grow or develop like a government that isnt corrupt that dont hoard the money of the nation and a government that can provide jobs  to all people     .

That makes sense though the problem is that these consumers do not know what it is.

For example in our country, they do not know what Bitcoin and cryptocurrencies is but when we talk about scams they could pitch the name Bitcoin but they never know what that is. They thought it is something like a company that starts these pyramiding scams. I guess if it became mainstream, that would be the time that Bitcoin would be used by consumers and merchants would consider accepting them.

I dont think fast transactions and usage have a direct correlation when you bring in the adoption and knowledge about the method in the first place. There are many people who dont know that bitcoin exists, even if they do know that, they still dont know where to buy it or where to spend it. We are among a niche few who know and use bitcoin but adoption becomes a deciding factor at one time.

Well blockchain technology is being used by different tech companies for various purposes and they open up new avenues of thoughts no ventured before or more services for the commoners.

I think even if bitcoin is good for the economy, it still hard for bitcoin to be accepted in the country because they need approval from the government, and so far, some governments still not accept bitcoin. We don't know how good bitcoin for the economy but one thing that we know that the transaction will be fast, secure because there is no third party that can interfere with the process. People can see the transaction process in the blockchain, but they don't know what the transaction will be made. It will be exciting to know more about how bitcoin will help the economy, but I am sure that bitcoin can improve people's finances.

I think that an action is important for the economy of a country or a region. For example, the economy of one country is low due to the fact that the inhabitants of this country have no desire to do something to increase it (or the inhabitants of the country want to do something, but the government doesn't want to make concessions because illiterate management and strategy in general). And the other country, which is nearby, is well organized, and its citizens work in different sectors, because of this there is a large amount of money in the country, so the economy is at a good level. Bitcoin, as a currency, affects the economy, only indirectly, as far as I understand.

Well, that's not what I meant

I was actually referring to people who are not only well aware of Bitcoin but who can also pay with it (in simple terms, Bitcoin holders). These folks are deliberately not paying with cryptocurrencies because they don't think it a rational economic behavior, choosing to pay with fiat instead. You can lead a horse to water, but you can't make him drink

Further, given how many cryptocurrency payment processors are out there nowadays (e.g. BitPay and similar providers), adding a cryptocurrency payment option is not a rocket science either, so the problem doubtlessly lies with the consumers, not their merchants

especially for those who don't know bitcoin and because their friends have had success in bitcoin then they invest in bitcoin, in the end they lose, so negative news about bitcoin is spread, even though they lack knowledge about bitcoin. this has worsened the image of bitcoin and resulted in a dump, but for some people it is an opportunity to make money

on a national scale, bitcoin's decentralised nature is both a boon and abne for the economy. It's good that it's decentralised as it can span miles and miles to reach people and transact which is otherwise impossible with our centralised remittances. But the fact that it is decentralised means that it can't do anything with the country's economy. It can't help it grow, it can't help it to it's destruction too. It's kind of on a neutral standpoint. Just there for you to use if you want to and there for you to abuse it's profinatibility if you have to. So no, bitcoin's not gonna affect your exonomy or anyone's economy at the end of the day. It's both good ad bad

Bro, Bitcoin meets all the criteria of money that you have mentioned here, but still I don’t think it will be a good idea for the government to fully adopt it. It’s not even possible for them to do such a thing because Bitcoin is decentralized. And being decentralized means that there will be lots of disadvantages, I think more than the advantage we are going to gain from it.

For us to have a better economy we need a better government. What we need is a government that puts their country first and serve it, and set their selfish interests aside. Even Bitcoin should become our currency it still won’t change anything, it’s not a magic coin that will make the whole world rich or something. Making the world a better place is a task for we human beings, not technology.

This raises the pros and cons. bitcoin can be good for the economy, but it can also be bad for the economy, depending on how the government utilizes the bitcoin. So far, for individuals and organizations, I think bitcoin is very good for now, because I feel it. however this provides an opportunity for those who want to develop a business, and others. but for a country, it can be good, or not.

Money is what money does

Put differently, it is not enough to have all the prerequisites and meet all the requirements to be money in practice and real life. In this manner, if Bitcoin is to be considered money in the truest sense of the word, it should be used as money, no more and no less (well, not sure about no more, given the competition in the field)

The sad truth is (whether you like or not), Bitcoin and other cryptocurrencies are not money. At best, they are payment systems and can thus be loosely considered money tokens for fiat currencies. To take one example, when people are paid in bitcoins, they still price their services in dollars. So much for Bitcoin as a fully fledged currency, huh

Bitcoin is great for the economy because, people who are interested in investing have the chance to make it possible with other cyrpto currency and mostly Bitcoin. People could invest and even if they have their main job, they could still do it because crypto currencies are easily accessible in the internet and other exchanges online that caters various coins available in the market. With Bitcoin they hold their own asset and investment that means independence or freedom from any regulating body especially the Government.

That's right! As also Bitcoin and crypto holders pay high commissions if they decide to exchange them for fiat and in the worst case at a price lower than the real price.
There is a gap between Bitcoin, cryptocurrencies, and fiat. It is also not easy to win Bitcoin even if some think otherwise.
For example A person without knowledge about Bitcoin. This person could not be easy to win some satoshis.

Financial freedom becomes something that is indeed a certain attraction for some people, but in doing so we must at least realize whether bitcoin is legal or not, because with legality at least investors will be more comfortable to invest and once again, we can not only be based on freedom of transactions or whatever because indeed, with bitcoin everything will be better because every transaction made at least it will run faster, but we also have to be more careful because good security must be done by ourselves and we cannot depend on other people or even institutions there.

Agree, that bitcoin can determine for itself and very clearly will boost the economy that holds it or sells and buys. the opportunity to invest in bitcoin is very reliable and can benefit those who can analyze it well. there have been many transactions that have been used for convenience with bitcoin and the pleasure cannot be arranged by anyone even by the government. bitcoin does indeed stand freely for every transaction.

Partly agree on this position. However I think govs will take an opportunity to adopt crypto by setting up payment methods of crypto with same atms/card terminals AND will make us to pay taxes anyway.

There must be an alternative for everything. This alternative for banks is bitcoin. Now everyone can choose what to use for the calculation. And while the government can control its citizens through Bank transactions, it can't track bitcoin payments yet.

Honestly I must say no, especially if bitcoin will totally outnumbered the Fiat users, our economy is gonna be destroy. Government circulating the money through banks and getting the right amount of tax to people is a good thing considering that, those money are the one that is going to be used to run the country and to upgrade and build new establishments for the people. If all of us use bitcoin, there's no way government can collect tax to us. so I think it will just be fine if those two co-exist and much better if the fiat will be the one that will run the economy, bitcoin will just be there to help fiat.

For me, bitcoin is good for the economy just like what you have said, because just think of it, when they really knew the goodness of bitcoin and how it is good for investment, they can really earn and can create bigger profits if they are really good doing that, and the results that might happen is that the particular person will change his lifestyle and because of bitcoin investment, he can buy what he wants, doing some investments on some banks or in some businesses physically, that might help the economy, the bigger the income, the bigger tax the government can get when that person spends.

But the idea of leaving the main job is depending on the knowledge of the particular person because what if that person is doing long term investment, do that particular person need to check his portfolio every time? No right? It is actually depending if they are doing some long term investment or holding, or short term investment. Because it needs time and effort to do that.

Isn’t Bitcoin already a medium of exchange? The main purpose that it was created was to be used for transactions. And it can as well be used as a store for value, that’s if you want. Anything can be used as a store of value as long it’s valuable. The only problem with Bitcoin is that it is very volatile. But it has been profitable in the last decade. If you stored your value with Bitcoin since 2009 by now you have probably gotten more than what you invested.

So, Bitcoin can almost fit in to the requirements you have stated here, but the only problem I think is making it hard for the government to allow it is because of regulation. Regulation is very important, since they can’t control Bitcoin they don’t see any need for it.

with the advantages of these transactions, of course bitcoin can facilitate community activities. with safer and faster transactions, of course, will improve performance, so productivity increases. besides that we can do business with other countries will be easier in terms of payment, of course this facilitates human activities in this super busy era

Maybe what The Economist meant here by "bitcoin is hard to earn" is that if it will be earned by literally from a job or work (like for example, doing bounty campaigns), yes it will be really hard to earn most especially if you want to earn a whole 1 btc by doing this thing, but if you have the money, you can just by bitcoin but that doesn't really mean you earned it unless you trade it and get some more as a profit. As as for the other two mentioned, yes bitcoin have those potential and it can be used as a currency,but still, some people prefer fiat currencies over bitcoin. It is because it has been used as traditional way of payment and is a lot easier to understand unlike bitcoin.

No, it is not. Being a medium of exchange assumes goods and services are exchanged with the help of something (in this case Bitcoin). But so far the only important type of exchange occurs on exchanges where one wannabe medium of exchange (Bitcoin) is exchanged for another (say, the US dollar)

And yes, Bitcoin was created to be transacted and circulated since that's how a medium of exchange is supposed to work in practice and real life. But the latter doesn't follow from the former. In other words, Bitcoin as a transaction vehicle doesn't automatically make it a medium of exchange. Not all transactions are born equal, so to speak

The height of bitcoin is at the bull run where a lot of fund flow into the economy especially from investors taking profit from the market. We could see a lot of cash inflow than outflow, at least money stays in the economy for the time. I remember the response of the media to the bullrun and spending in 2017/2018, Since the fund is flowing from selected few and purchasing capacity increased, there wont be the fear of inflation.

well of course, when the price of bitcoin goes up to be very expensive there will be a lot of media talking about it but I see that halving will happen this year will give a shock to the world, right now the price of bitcoin is falling very deep and after that the bull run will happen again and will shake world economy.

don't be very sure mate because remember this is the 3rd halving and things may happen beyond our expectations.because look what happened last 2 years when manipulation comes always the issue ,there is a pump happened last year when there is no expectation for that to happen and now from the start of the halving year we made good growth but dumped 2 months before the date given?if i were you?don't expect too much and just wait until the closest time comes or after the halving take effect.

Bitcoin satisfies people's demand and creates competition in the market.
These two effect makes bitcoin profitable for global economy for sure and moreover it is good for users as we all can admit that.

Yeah, Bitcoin is great for users But also if we will invest in Bitcoin properly then in fact for the Bitcoin economy it helps the economy of each country Before investing in bitcoin to satisfy the requirements of the people, you would like to seem at different places and invest within the market situation.

"Payment system" could be one of the worst ways to explain what bitcoin is :D. Paypal is a payment system, bitcoin is not a payment system, you do not buy 3 paypal and sell it for higher later on :D. Bitcoin is usually considered a commodity, not like fiat currency but not like paypal neither, it is in between, gold is a lot more like bitcoin. That is why many people called bitcoin e-gold as well. Can you spend gold to buy something? It is possible, if it is a legit gold piece that you can give, I am sure some places would take it, not a lot but not a lot accepts bitcoin neither.

The only difference is, bitcoin is digital, so you can just pay it online and order something. Basically, an evolved and better version of gold instead of better version of dollar like many people think.

I'm not that agree on you, Yes, although there is insignificance of comparing the past halving with the market status right now there is a very clear pattern that can be compared with the past halving occurrence. It did fall for the past 2 weeks but it does not mean that there will be nothing to expect for the next month, remember how low the price went back in 2019 more unlikely to reach again when nearing the halving time. You're right don't expect too much for the price, but expect the greatness it will bring when it spiked. Mass adoption is real mate.

Information are from the wikipedia. " https://en.m.wikipedia.org/wiki/Economics_of_bitcoin " . Yes he did his research but is it almost copied from where he/she read it.



I did not fully trust wikipedia because it can easily edited. I think read more in many different sources which are more trusted so that you'll see yourself different angles regarding crypto and of course your knowledge will widen

A lot of people who doesn't know more about bitcoin will gonna say bitcoin will not help to improve the economy or it will make it worst because it is full of scam and fraud, but i think bitcoin is good for the economy because a lot of people would be given a chance to have a better income than their regular jobs that they could be a millionaire someday, if they continue to used and invest bitcoin in their daily lives.

In some ways I think that it can be good. There are ways that bitcoin can benefit people, but I don’t really know what kind of impact it can have on the economy. Take for example – what exactly does bitcoin do for the people? Bitcoin eliminates the need for middlemen. Now how does eliminating the middlemen affect the economy? The middlemen are the banks and they are the ones that handle fiat transactions.

Since, bitcoin doesn’t allow intermediaries, banks are worried that it will cancel out the need for their services. This kind of situation is causing serious concern and that’s because it’s affecting regulation. I guess there are both good sides and the bad sides.

Your whole point is technically not quite correct

Bitcoin removes third party risks, that's true indeed, but it doesn't remove intermediaries. Someone still has to confirm your transaction, and these are miners. Of course they are not like banks. However, in a more general sense, what miners do is essentially the same what banks do. If your fiat transaction could be confirmed by any independent bank out there, the difference would be negligible

Assuming, that everyone around the world has access to crypto currencies and is legal everywhere, then yeah it can bring some good to the economy. Bitcoin can be considered as a global currency. People can easily accept bitcoin from another country within seconds by just sitting on their home without facing any kind of obstructions (assuming the whole world is now crypto friendly). Thus people can have better opportunities to work online and receive payments easily, thus making the economy of the country even better than before.

Well, if that thing happens then it would be significant to all of us, bitcoins has so many benefits on us, it is commonly used because of convenience compared to the real money, Bitcoin becomes so prominent all over the country, so I think its price will increase more in the future, but I doubt that it will replace that fiat money even it meets all those criteria of a fiat currency, because how could a person handle this things if he has no cellphones or stable internet, yes there are still existing people who don't have cellphone or do not know how to use cellphone, especially those who live in the provinces. It will be hard for them to adjust if it will happen. There is still some person who is not familiar with technology, so, I doubt the government will let those things happen. But anyways, bitcoin is still good in the economy just make sure that it won't pass its limit.

The better the economic ailment of a country, the more developed that country is. So in order to keep the economic condition good, all the marketings and work of the realm have to be done suitably.
Since transactions in Bitcoin are very fast, it can be said that Bitcoin is good for the economy.

If Bitcoin is hard to earn ,then, is fiat easier? since you have been at home at lockdown you can make your Bitcoin even in your restroom without stepping out of your house, campaign, trading, can be done indoor. Only few people will keep receiving payment during this lockdown because most people will have to go to work to earn their wages or salary.none of this come without Working for it. As regards the limited in supply, well, mining has never stopped.

In what circumstances you are asking about? Bitcoin is decentralized no one has total control over it. So bitcoin is favorable to the people who like to have their own privacy. And as it is not controlled so it can't do something good for a special class of people only.
But at the same time it is not good for the centralized system like GOV, as they cant track it they can't handle any crime related to it's transaction .


You can just convert your fait to BTC. Not sure what you are reffering as hard to earn, if the Economist in January 2015 said they are hard to earn then now it's harder after the halving this year  ;)

You are saying that bitcoin is like a money-making investment and if that is the case I should be quitting my job now, but I won't. It is true that it can give profit, sometimes a huge profit but it is unreliable with a lot of unexpected movements happening. Most of the time peoole are just holding it and not actually using it.

I guess it is good for a personal economy but in a whole scale? I don't think it makes that difference since here in our country, there are only a few percent of the population using bitcoin.

Bitcoin is good to the economy, because atleast the black money that's been saved by rich ones will be poured into bitcoin. Atleast this will cause the bitcoin market strengthen and continue its circulation rather than getting accumulated similar to the fiat. Economy is dependent on various factors, with bitcoin there is not much of depending factors as it is speculative and can be manipulated.

Bitcoin's qualities you mentioned make it good as a currency. But I'm unable to understand what you mean by asking "is Bitcoin good for the economy?"

Bitcoin will help the economy grow rapidly because of its transaction speed and security but its limitation is the dependence on internet and fiat, although not dependent on the internet, but for transnational transactions, it is complicated and takes a lot of fees. , I think these two currencies will grow in tandem, and bitcoin is part of the fast economic growth.

And how is that good for the economy?

That "black money" being poured by the rich people, is that illegal money? Then you're saying that it is good for Bitcoin to be a way for these people to launder their money? If that became a thing forget Bitcoin being good or helpful in a country, if that is the case I don't think Bitcoin will still be legal in a country.

I believe that current economy system is deeply corrupted! We need big changes, not just in technical way, we need to change the way we think, if we wish to see better days for all the people in the world we need big changes! Bitcoin alone can't do much, we need entire crypto ecosystem. Bitcoin just opened a new door, and the more you explore you will find that crypto has a lot to offer!
Bottom line is that crypto is the tool, in the end everything depends on us, on people, how we will use that tool and for what we will use it!

Right now we are going through a deep situation which is difficult to escape, we just need to have a positive outlook in life. Bitcoin is good for the economy because it can give us a chance to become successful and earn profit from it while the virus is still there.

Bitcoin is definitely good for the economy because it can help people who doesn't have any source of income that it can now help the country to reduce unemployed people. Bitcoin can also help and save our financial system from collapsing, and I think it is already proven this year of 2020 due to the pandemic of coronavirus where all the stocks and banking system are struggling.

Actually ,it just easy to earn bitcoin if you have money to buy it. And if you have money try to join campaign that promoting different projects and pay you with their tokens then exchange it to bitcoin. Very easy. Bitcoin is good for economy if it will just mix to a fiat money because they have different value and features. You know government is very allergic in Decentralized currency ,so it's difficult for them to accept bitcoin as part of the economy.

Rather than the economy, I would say bitcoin is good for the individuals, such as opportunities, and freedom. But since bitcoin is still not widely accepted or recognized by everyone, the good or the advantages of bitcoin can only be felt by limited people, and those are the one who uses bitcoin. Since we are using bitcoin, we know the pros and the benefit of it that we are looking for.

However, bitcoin is not widely accepted yet, so those things mentioned above still cannot be felt in the economy. But imagine if bitcoin achieved mass adoption, not only individuals will realize what bitcoin can do, also the whole economy.

In our country, we actually do not know if it would do any better to our current economical status. Bitcoin in our country is somehow branded as a scam since people are not knowledgeable enough about it and that is kinda sad since the Cryptocurrency Industry has a lot of potential. Bitcoin might be good to the economy but it needs proper guides on how people can use it fairly since most government do not want fair transactions involving money.

Its hard to realize because we dont know what happened next with bitcoin. So far bitcoin has provided various benefit for user and it is much better. Bitcoin will of course continue to be developed and its application will also increase over time.

Some economic observer will consider bitcoin as a threat to a country economy. I am not sure about that because personally I as a bitcoin user can feel the benefit such as profit through investment and trade. But they also have their own view, as long as it doesnt bother us so let them talk.

You are right that there are still many country where bitcoin is not much familiar and most of the people don't know what is bitcoin. It will available when bitcoin will be spreading all places.

In general, you can't separate one thing from the other

What is good for individuals is good for the economy. Economy is a broad term which is made up of households and individual people at the most basic level. Indeed, there are specific cases when certain groups of people are better off at the expense of other people (e.g. elites), and in this case the economy at large suffers too. Whether Bitcoin and its holders can be considered harmful for the economy as a whole is a matter of debate

Of course yes, cryptocurrencies are of great help to the economy, many foundations are now receiving donations in cryptocurrencies and many platforms today are used to make donations and receive, an example of this platform is MintMe (https://www.mintme.com/). This platform is a cryptocurrency exchange with a simple idea, you can monetize any idea you have by creating a crypto token for it and offer it for money to potential investors and fans.

Well, agree that it's easy to get bitcoin right now. You just need to wait for the right timing and buy a lot of bitcoon at low price. Bitcoin isn't that hard to earn nowadays and you can see a lot of platforms that gives free BTC. Bitcoin is surely have good effect on the economy since people are getting profit into it through investments.

Cryptos like bitcoin would be a great help for the economy if the people are earning it and have used it for their economic growth. But i doubt if companies today would prefer to make bitcoin as a salary for their workers as bitcoin has higher value compared to usd. But earning bitcoin alone is very good for our economy since it has its own useful qualities different from fiat.

I agree that Bitcoin is very good for the economy, if you look at transactions using Bitcoin are much faster and the fees are far
cheaper than using fiat currency. Because for a country's economy to develop rapidly, transactions must occur fast finance between
countries. And with Bitcoin, each individual can increase his economy just by buying Bitcoin and save it the next few years, when
the price of Bitcoin managed to rise high, automatically our wealth also increased.

Gold is a part of the economy. Just based on the gold we can't term ones economy. In simple gold is mined from the African countries, does that mean the respective country is good in its economy.

The consumption to the productivity defines the economy. Even if it is a very low valued, it has its contribution to the economy. One thing, gold has attained a position to be trusted. For that reason, its been given importance as a reserve source and to boost up the economy on need.

I guess that is because of the anonimity it offers.

We doesn't pay taxes to our cryptocurrencies or the profits we are having, I guess that is the reason why they look at it as a threat. If more people would be using it, then more people would be able to evade taxes earned from it. Still, I agree since there are still a lot of convinience of it but I think it is not majorly for the economy of the country.

The price of Bitcoin is rising. Bitcoin prices are likely to fall at any time. Everything in the world has its ups and downs. As much as Bitcoin has many risks, it also has many good aspects. Now everyone wants to buy bitcoin. As long as prices continue to rise, many will benefit.

For some people who are jobless, its quite great to work here in Cryptoworld and earn bitcoin than doing nothing at home. And I think its good for the economy too, because everytime we earned bitcoin and converted it to fiat, we will be able to buy essential goods for daily living and we can help the market with that.
Yes, I agree that Bitcoin is limited in supply but as mentioned already here, it can be forked.
Lastly, I think its not that hard to earn if you'll just strive hard and knows everything about mining-there are lots of mining sites if you'll try to research about it. And if you have lots of money, you can also easily buy bitcoins on exchanges and send it directly to your digital wallet.

i don't think that earning bitcoin is hard. Let's just that this post of your's one step for earning bitcoin. Almost all of us here in this forum is here to earn money. Practically saying you won't waste a time to post something here if you don't have interest on money

I agree, there is no point in governments baning bitcoins. It's the future. First of all it's another form of financial asset that helps individuals to diversify their portfolios. Having less exposure to FIAT currencies and more investments in crypto currencies helps any investors. The world became so connected through the internet that it definitely needs it's own currency to connect all countries without going through banks and paying a lot of fees. For me bitcoins is something like the internet currency, paypal would have loved to be that but it's still based on FIAT currencies.

btc is not goo and not bad its just the vechile to hold your money or move money.
btc price goes up if there is demand to buy btc to have demand to buy there need to be reason to buy btc.
if there not enough reason then price will drop down until we see the price is low enought to buy it but this is just speculation and not sustaineble for long term the sustaineble is when we have good reason to buy btc.

nothing more nothing less

Your last statement is true, once the value of bitcoin increase it's automatically increase our wealth,

But it is not always like that, there are chance due to volatilities the
value also will fall. In terms of economy their are many

digital money that can be use to transact, bitcoin is an addition to
this line, good thing is you are investing while you are holding this asset.

It will create an impact in economy even bitcoin is good in every individuals as of now. The opportunities that bitcoin and cryptocurrency open to the people can help to decrease the unemployment rate. It is a win-win sotuation for all of us. I am sure also that the pioneers of bitcoin are the most successful people in the future. Specially when bitcoin becomes the mainstream. As of now, we just need to spread the word of bitcoin to our neighborhoods.

Nah, there is nothing that is not hard to earn, even the USD is hard to earn man. You can’t be walking on the road and be picking up free dollars, can you?

Nah, you can’t, rather you will have to get a job and work hard to make your dollars; the money doesn’t come free just like that, you will always have to do something to get it. That’s the same thing with Bitcoin, you will have to either work hard for you to be able to earn it or you will use your money (which also came through hard work) to purchase the Bitcoin. And Bitcoin doesn’t contribute to our economy, although it can better the life for people.

I can't agree that Bitcoin transactions are faster than transactions in fiat. Sometimes it takes much time to get transactions approved, while Visa or MasterCard transactions are instant.

Bitcoin system has prove to the world how real they are in their services and how they have improved in the life of humanity.Many country is waking up their economy through Bitcoin system, show how important Bitcoin is in some nation. Easy to invest in any country of your choice and start making profits if you obey their rules and regulation that govern them.

We are exaggerating bitcoin too much and it might actually hurt us. What if we do not become the main currency? I mean why would that matter? Do you really think that this would really matter? As long as we are at a level where people are using it like the way they are and some big companies start to accept bitcoin for online shopping, isn't that enough? I would say that it should be enough if you ask me, however people do not really understand it and want bitcoin to be main currency and have like 50 trillion dollar market cap and be hundreds of thousands of dollars to be happy, that doesn't really need to happen to make bitcoin big, it is currently big as it is and that is what should matter to us. In any case I feel like we are doing fine and I am feeling happy no matter what happens, just to have bitcoin in my life.

we cannot say the exact answer because sometimes it's a good option for governmental level but at the commercial level, it will affect the economy like money laundering

So, it's safe to say that Bitcoin propels economic growth throughout the world by providing much easier access to capital and financial services, especially in developing countries. ... That's why today, people are most likely still using Bitcoin to earn some profits on their fiat money rather than conventional exchange.

when the country supports the existence of bitcoin I am sure someone might have a great opportunity to use it as a means of future investment because with very rapid price changes they directly have the opportunity to seek profit and certainly the economy will be increasingly helped.

I think Bitcoin is not hard to earn. Its just easy if you know all the mining strategy and everything about it. The supply may be limited but it can be forked as often mentioned by other people here. And I believe its good for the economy because people got to earn, invest in something that they wanted to and most of all, it offers a lot of convenient transactions that could help our lives more easier especially in this pandemic time. Bitcoin is really a big help to all individuals who knew about it, same goes to the economy as well.

Bitcoin is really good for the economy because people transfer money faster, which means time savings. If blockchain technology is applied to most of the fields of health, education, finance ... then human civilization will be more advanced, saving decades.
That is the value of blockchain, under the rapid development of blockchain I believe that countries will apply blockchain more commonly to their governance systems within the next 5-10 years.

Well! I will accept this to be through for now because earning bitcoin the way I do, may not be as difficult as going to office working with all energy for hours. With bitcoin I work to earn anywhere in my house without any boss, but you know we still have our online managers to report to. The store of value is real too. Above all this is a digital currency where you handle your wallet yourself. Bitcoin is on no doubt good for the economy because the world is going digital and bitcoin is solving some economical/financial part of it.

Bitcoin is very good for the economy it is very helpful to improve the economy of the country the price of Bitcoin is going up even though everything has gone down due to the virus Bitcoin investment can improve a country's economy a lot. Although there is a ban on virtual currency transactions in the country the government is interested in blockchain technology. The main technology behind Bitcoin is blockchain. in other monetary systems such as the government and the central bank it is not the case with Bitcoin there is no banking system in bitcoin transactions.

Ofcourse it is, especially nowadays that were facing Pandemic. Plus a lot of companies shut down and retrenched people. thats why a lot of people loss their jobs and dont know where to get their source of income.

Bitcoin can be usefull for the economy if it will adopt totally by one country and allow it to become useful like for online payments and can be use to buy online goods and services freely like how we use our fiat money. Although in my country we already use it to buy loads and pay bills but i think it's not yet enough to say that it was good to the economy. It needs more improvement and development. Maybe after a couple of years,who knows it might happen to become or consider as a secondary to fiat currency.

When Bitcoin gets harder to come by I don't think it's good for the economy, because the crisis will inevitably hit when the main source is even hard to find. In Bitcoin anyone can own it if they have the effort which is basically the same as any other currency. But is Bitcoin easy to accept to become the main source of the economy, because we realize the government will maintain its own currency for many transaction purposes, if Bitcoin is only a store of value I think it will still be easy to accept by many different elements and institutions.

It will still affect bitcoin, so there is probably no need to say unequivocally that it is good for the economy.

   I don't see bitcoin is good for the economy in the situation now. Maybe for others, but how about those who are not able to know what bitcoin is and those who don't have the means to have bitcoin, right? Losing jobs is because of the pandemic that even small businesses needed to shut down because they are not having any more profit. They are losing capitals.

Yes that is beneficial to our economy because bitcoin help a lot no matter how our economy. I hope  the establishments can receive payment from the bitcoin so it can help big in our economy especially in this situation.

I agree. Growing numbers of individuals working in Crypto world and earning Bitcoins were given the chance to have financial freedom and the benefits of Bitcoins great features that made each people's fund management be easy and reliable. Indeed, it is great for the economy because of the profits we earned here and every awesome benefits it offers.

There will be a lot of tax evasion with bitcoin as a currency. It's easy to use a bitcoin mixer service to do so which will in turn reduce the economy of a country or state.
I'm not saying there will be no good factors associated to it as a currency i only pointed out the most lethal one.

I think so, Bitcoin is good for the economy if it is utilized properly for example in remittances if people use Bitcoin via regulated platforms the government will gain taxes from every transactions generated same for the establishments that accepts Bitcoin as payment or regulated exchanges that operates locally or internationally. Unless we do not use third party platforms to convert Bitcoin to cash vice versa, but I think its impossible because people still depend on fiat and banks up to this day or in the future.

Everything that can help people in much easy way can help economy and Bitcoin is one of those because we had already know what this can help us.
the payments speed and the capacity to transact worldwide in easy way now.

this needs adoption before we can use this in daily basis.
depend on your country and depend on your capacity,this will take years before happening or nothing will happen at all.

Bitcoin will be good for the economy, in my own opinion, if people use bitcoin in a nice way. Although, in my country some people doesn't know this yet and others lack of knowledge when it comes to crypto currency. If some people will be educated on how this is used it could be really useful. And this is good for the economy if there is massive adoption.

For me bitcoin is good for economy as long as it will use correctly. I mean ,it will not be use in evil works like drugs, crimes, scam,etc... Bitcoin is very useful if we give value on it not just as an investment but more than to that.

Bitcoin is a great asset..
Bitcoin is a financial savior (for those who have made huge profits from Bitcoin)..
Bitcoin is the savings of the future..
Bitcoin promises transparent transactions..

agree with you, Bitcoin is very good for the economy if used properly..

   It's not just Bitcoin that has that use it correctly and it will serve you, use wrong and it can hurt you. Only thing is that
it's not on individual level, it works for all of us, and it can be good for all of us, or it can be bad for many of us, and how
will it be will depend on how we use it.
   And I agree with you Axelseseclevz, if we use crypto-currencies in the right way it can be good for the entire world and
all the people who live!

First and foremost - bitcoin is good for each individual bitcoin investor, thus its good for the economy, because ultimately it boosts people's purchasing power which drives economy in the first place.

For me, bitcoin will help a lot in ang economy especially now the pandemic many people have lost their jobs, many people ang hungry because they have no money we can help them thru introducing bitcoin to them to also help them and our economy gradually falling. bitcoin is good for the economy especially in this situation.

Yes even though the country's economy suffered in such a bad situation the effects of the epidemic on bitcoin did not last long that is why many people have found a source of income and have been able to cope with the financial crisis. Bitcoin is a very good and popular investment currency in the crypto market as the country's economy improves it is also able to solve people's problems.

I doubt that this statement isn't right, I demand you to benevolently post a source connect here.
It's not difficult to acquire bitcoins, rather its the most effortless way to gain cash on the web.
There's numerous method to win it you can do exchange, mine or play faucet online

It has no direct impact to the economy but through the people who use bitcoin as investment or currency it can give an opportunity as an alternative way to earn specially now that there's a pandemic. People are looking online on ways to generate income, and bitcoin is one of the option that can help those who dont have job.

It surely has an impact on economy because the larger the people earn from the crypto their dependency on other things like job or government services reduces, their lifestyle becomes better and they start buying more stuff for their betterment and this increases the demand in the market. Also, they start contributing more in the taxes when they earn more.

Yes, and that's just theory. While Bitcoin has all the qualities of being a useful currency, the core part is how people use bitcoin :)
Until now Bitcoin only traded underground and most often were illegal transactions. that is why governments around the world prohibit or legalize bitcoin. therefore, deciding to use bitcoin as a general means of payment will be a very risky one.

Bitcoins are good for an economy because they provide more independence and diversification for merchants, investors and gamblers. Bitcoins enable the users a cheap alternative to fiat currencies. The only problem a country and its economy face is that they are giving up its monetary policy monopoly. Which is not a bad thing. It only becomes bad once crypto currencies are misused for illegal  activities. If investors use bitcoins to avoid paying taxes its a bad thing. Tax evasion hurts an economy a lot, but most tax issues are done with cash in fiat and not cryptos.