Bitcoin Forum

Central banks are based on producing fiat money within controls and according to a corresponding stock of metals such as gold, or a reserve of major currencies such as the US dollar.

As for encrypted currencies, they are not subject to any controls of any kind and are produced by individuals (mining). However, some countries that are subject to economic crisis's or international sanctions have exploited these digital currencies and used them in their favor within controls ; The Venezuelan government issued a central digital currency called "Petro" and linked its price to the price of a barrel of local oil which means linked it to oil and precious metals. Also, China has also issued the Chinese yuan, which is a digital currency different from the decentralized blockchain.

Is it true that cryptocurrencies will weaken the global financial system? That system which is managed by countries with the strongest economies with their currencies that has gained wide acceptance to be traded in financial markets all over the world.

This would have an impact on the global economy and the entry of digital currencies would weaken these countries from their control over the economy if other countries start to follow the same approach as the Venezuelan government, as the currency of these dominant countries used in commercial transactions and which has been linked to the prices of gold and precious metals will face Digital currencies whose printing and issuance are not controlled by any official entity.

If we were to compare the total value of all cryptocurrencies, then according to the CMC market cap, it would currently amount to a little more than $800 billion - and for comparison, the US defense budget for last year was about $780 billion. I think that this speaks more than enough about the importance of crypto-currencies on the global economy, and the so-called CDBC should not be mixed in, because apart from the digital aspect, there is nothing different about it from money as it exists today.

As for the petro-dollar, I think that project is far from any success, and I doubt that anyone will copy it, but China and its CBDC are a different story because they are forcing it without asking the opinion of their residents. In some further development, that currency could be accepted by some other countries that are politically and economically close to them, but it is more likely that it will still serve them for even greater control over their residents with all the measures they are already implementing.

Creating your own CBDC as a nation and backing it by any asset you wish or running it on any system does not impact the cryotocurrency market. It is just a way for governments to try and benefit from the blockchain technology.
Nigeria also created theirs during the peak of the Bitcoin revolution and it has been a failure so far, while Bitcoin continues to grow in popularity.

Not in the near future. Bitcoin is still a budding technology and as an alternative currency for nt weaken any of the major currencies. In the distant future when it's target market continues to grow and global adoption as well, it could become more dominant.

No one can prevent any country from issuing its own version of the digital currency. However, given that this could reduce the power of the major countries over these economies, it is assumed that a defect will occur in the current system.
A poor country suffering from economic pressures cannot issue a paper currency except according to certain conditions and formulas, while it can issue an electronic currency without the need for any intervention, and it is sufficient to have a stock cover to give the currency its value. The large countries that control the global financial markets realize the danger if the Venezuelan experience is generalized.

I don't think there is any impact that CBDC does to cryptocurrency. Moreover Venezuela or China are not the only country that has adopted it but no impact felt in global market because of it, at least no report so far by no one to the effect as said that CBDC is responsible for decline or push to the price. Nigeria is also one of the countries that have adopted or created digital currency and I think that creation was for the purpose of pushing the local currency as digital and nothing more because no positive effect so far to the Nigerian economy or the support for CBDC contributed to rise in global economy .

With the exception of China, the rest of those countries that issued their digital version of the currency are going through economic problems, including financial dependence on the great powers. On this basis, they cannot link their CBDC currencies to their local currencies, unlike China, which has the digital yuan as an electronic version of the yuan fiat.
According to some articles, Britain is also in an experimental stage to generalize the use of CBDC, but there is no information about the reason for the delay or the launch date.

CBCD is been created by government of a country to minimize fiat currency which is depreciating gradually. It does not have any effect on the global economy and it is not also a decentralized currency. No matter the way it is presented to the citizens it still remains centralized. So if a country creates its own digital currency and link it to gold or oil barrel price it still will not change anything.

This article[1] is a good read answering @OP's title on how cryptocurrencies affect global economy.

The article answered how will global investments be impacted. It stated that it hedges the portfolio from potential risks the main reason for the rise of cryptocurrencies across various exchange-traded products.

It also stated the benefits of the global economy on cryptocurrency since it speeds up transactions, having no intermediaries results in lower fees, less need for a physical structure that gives lower fixed cost due to no need for wages, rent expenses, and utility bills. There is no global barriers since cryptocurrency has no boundaries and it facilitates easy and quick trade for corporations (reason why SBF can easily comingle FTX funds with Alameda)

In addition, it also stated that entreprenuers can receive payment in more currency which helps them get financial coverage and liberated financial connection.  Since the cryptocurrency network is backed by distributed ledger technology. It is automated and digitized too. Thus, it eliminates the risk of fraud and corruption, the biggest dent in the traditional financial system.[1]

Cryptocurrency also enable financial inclusions[1] and blockchain and cryptocurrency can help build greener future.[1]

---

[1] https://internationalfinance.com/how-cryptocurrency-reshape-global-economy/

Do you really beleive this statement? Maybe many did until 2020 but that year really proved banks are printing the amount of money they wanted not based on reserves or anything as they did in 19th century so these fiat currencies are already weakening and this time we have an alternative to those papers so called decentralized currency which isn't doing anything bad do the economy meanwhile protect the users from inflation and actual value depends on demand and supply rule.

Allow me to let you know that the "Petro" experiment in Venezuela was a failure, it was all smoke and mirrors. In reality, that coin had no actual demand in the market and the little demand it had, was created artificially by the government. It is not decentralized either, by the way.

If the talk about Bitcoin and other cryptocurrencies, their impact is easier to observe and measure at local and national levels, because these assets suits the necessities of certain countries very well, being nations like Argentina, Venezuela and Nigeria good examples. The adoption is still concentrated in regions.

Specifically — Bitcoin will weaken government-controlled fiat currencies assuming things go well for Bitcoin, hence weakening government control. Not necessarily that it will weaken the economy.

As for "crypto", it's still very much unlikely to replace most of digital ownership like stocks due to regulatory reasons. It's much easier to decentralize a currency/SoV than a business ownership certificate.

The global financial system is weak by itself, by the inefficient adopted policies to keep inflation under control and to allow governments to create more public expenses. The global system is weak because long term measures aren't adopted by regulators and economists, since they are considered unpopular. I believe bitcoin is just an escape for those who see this reality in front of their eyes, but can do nothing, since most people are blind and careless about the situation. I see bitcoin's effect isn't in a global scale, but on the individual one, as it's impacting the lives of its adopters singly. To have a major effect, bitcoin adoption should be more widespread at this point, what isn't the case.

Instead of weakening it, cryptocurrencies complement the global financial system. In my opinion, cryptocurrency appears not as a competitor or a technology that disrupts the global financial system but as an alternative technology which will innovate and advance the global financial system. Just imagine if cryptocurrency didn't appear, maybe until now we are still monopolized by old school transaction systems, which are not fast enough, weak, prone to hacking, high fees, etc. With the emergence of cryptocurrency, it will awaken the central bank/banks to be able to improve their system and present a transaction system - which, although not better than cryptocurrency - is still good enough and helpful for customers. We as users with the presence of cryptocurrency are also given alternative options to complete their transactions, and we really need this.

The more users there are, the less Bitcoin will be controlled by a few people in the market. Of course, at a certain stage of mining, it is not impossible to rivet whether the price stability will become the world currency. You can print as many dollars as you want, but Bitcoin No, I think this is the basis for Bitcoin to become the world's currency.

I don't think that is their purpose of creating it but the more obvious reason would be is to counter crypto. CBDC's are I think backed by a real fiat so it does not help either in terms of cutting the inflation. Cryptos aren't tied to any local currencies so it's the one that doesn't have an effect to the global economy but CBDC's can even though CBDC's are close to being a crypto since they also runs in the blockchain.

CBDC's are centralized but the creators of it didn't denied it either and then the public already knows this even without any explanation but only by knowing their origin or where they came from. I don't know if CBDC's can be linked with gold and oil but if it's possible then the more it will affect the global economy.

The effect of bitcoin and cryptocurrencies on the global economy is not something we can ignore, but the CBDC is not something related to the bitcoin and cryptocurrencies, CBDC is something created by the governments and the central banks and that's not something decentralized at all but bitcoin was the reason for the creation of CBDC, I think that's part of bitcoin and cryptocurrencies effect on the world economy, but the other side of this effect can be some governments like El Salvador using bitcoin for their own payments systems and this effect can even grow over time.

That's how the government wants to keep control over the people's finances, because if decentralized they can't do anything if something bad happens to the people and the more precise reason is that they can't take advantage, especially the bankers.
Because basically, the industry that will be disrupted when crypto adoption takes root is banking, if you look at it today the aspects contained in banks are already in DEFI so it will be easy for Blockchain technology to shift the highest throne of financial institutions.
CBDCs may be a backup plan to be an option for the government to keep control of finances and as an alternative form of currency that people can use to keep themselves away from crypto.

Those countries that are making their CBDC, they're totally out of the circulation and market cap of the entire crypto market because they're not really cryptos.
They're just making it look like that those CBDCs are crypto because people will get to hooked with its name and descriptions. But other than that, the crypto market shall be a stand alone market and that's what the governments are trying to compete because they see that there's a huge market and money that they can get to touch with it. And that means for them and financial institutions that they can no longer ignore the importance that it has got for the global market.

There has a good and bad effects on every country's economy. It's good because the transactions that are important to businesses will be faster, the fees are also lower and it's safe to use. Because of this, each country's economy can grow depending on how they handle it.
The possible negative effects are can be used for illegal activities such as the smuggling of weapons and contraband that can indeed strengthen the economy but affect opposing countries.
But if they find a solution to control it, it will surely have a good effect on every country.

A simple listing of CBDC on popular price aggregator like cmc and coingecko an brainwash and accept it as cryptocurrency by the majority. This is same with USDT which we all know how shady it is but people and majority of exchange use it as main pair of all crypto for stable coins despite the risk.

No matter how hard we can fight against it. They can easily target the foolish mind of normal crypto holder to make think that it is part of the crypto market.

Honestly crypto currencies are affecting Global Economy at tiny fraction as compared to what goes around the world. I mean we talking about the Global scale economy and compared to that crypto currencies are nothing! Sorry to say folks but we feel the greatness of bitcoin because we are involved with it directly and presumably on daily basis. Crypto currencies have effects like disturbed banking system, increased criminal activities including money laundering cases.

On the positive side, it has given world a chance to have alternate transaction system with data integrity at it's best. Limitless ways to make your transaction with less paper work and be faceless.

Basically we have pros and cons and it's wider topic to discuss really.

You are right, CBDC is still a controlled CBDC as fiat functions. The government just wants to make sure that digital finance has to adapt to the growth of crypto. But then again they're not crypto, they're just leveraging Blockchain as a reincarnation of fiat. I wouldn't worry too much, because users who already know the function of crypto as full control will know the difference with CBDC clearly.

Yes, there is a clear difference between CBDC and cryptocurrencies. CBDC is centralized, not cryptocurrencies, It is more or less stable and it is subject to the government, and can be kept in bank accounts with no credit or liquidity risks. It will enable the general public to conduct digital payments because it plays a role in facilitating access to financial services, and as you mentioned, the idea of CBDC stems from blockchain technology, and I see that in the future, CBDC may have an impact on the cryptocurrency market and sector, and it will help and enhance financial stability in the banking system and reduce dependence on cash. As for the impact of cryptocurrencies on the global economy, I see that they can have not a noticeable impact because cryptocurrencies are not government-backed and are not internationally recognized in many countries.

In my view, cryptocurrencies or bitcoins do not have any effect on the global economy even the slightest. It is true that the market has been interested and has had significant changes recently, but that is not enough for it to affect the macro level. It's too early to talk about that.
I don't underestimate crypto but after all we are still in the infancy of the crypto industry so we can't over exaggerate it. But I believe with its potential, it will become an industry comparable to other industries in the future. One of those signs is that people are starting to see bitcoin as digital gold.

Amidst all this CBDC talk how many countries out of those who have publicly announced their launch are actually actively using it? because here in my country, it all ended up in the news only, a piece of forgotten news so far.
Regarding the OP, I would say it is the reverse, the economy affects cryptocurrency rather when the economy is in favorable condition crypto investment increases the most. But the only way I think crypto can affect the economy is when government regulations kick in and there is a tax to be paid by the crypto users.

Cryptocurrency has affected the world global economy in a positive way except for the few altcoins that has been a thing of concern which they have not been presented as to worth the standard of a digital currency because they are shitcoins emancipating from fake projects, but cryptocurrencies in general has boost up the world digital era in financial economy and just like the gold rush, it's widely recognized and people want to learn about cryptocurrency at any length because they are tired of living under the same centralized authorities with handling their finances.

That's true, those meetings or talks just passed. Not all countries agree to use this because they are not completely enlighted about this.
Cryptocurrencies will help a lot if it is enacted, we know that many people use it as a transaction. It is sure that it will contribute a great amount to the economy of each country that will receive it.

I think instead of countering crypto, they just want to take advantage of the hype crypto has. If governments promote crypto, and also have CBDC then people would invest into it, and give their money for it. Which would mean billions of dollars in governments treasury, and yeah they would give that back if you sell your CBDC, but some other person would buy it, so keep promoting crypto and in return there would be more money in the nations bank basically.

It's not a bad idea, it's not there to counter it but there to take advantage of the situation. I believe it would help the nation so much, it's like free money printed and they could use it too, nobody would bat an eye if they spend it neither, because they could simply print more later on.

Correct - the top three economies combined produces GDP which totals in the many trillions of dollars. You can take the top 5 crypto currency market caps and they won't be but a small fraction relative to the size of the worlds top economies.




I don't consider CBDC's to be part of crypto currency, merely a digital extension to a country's fiat currency system. CBDC's, in theory, wouldn't play a role in the global economy as they are just going to be pegged to whatever local currency the issuer uses. A CBDC could collapse and that wouldn't effect the global economy unless it took down an economy with it. If China implemented a CBDC and had their economic deeply intertwined, then that'd be a different matter.

Can you come up with evidence to prove that cryptocurrencies have a positive impact on the world economy? I don't see it having any effect on the world economy. It's part of the financial markets, that's true, but what it achieves is salt in the water, too small to show its influence. As Lucius mentioned: the total market capitalization is not equal to the 1 year defense budget of the US, so how can it be said to have an impact on the world?

Bitcoin is decentralized, but cryptocurrencies are not, and you enter the market because you hate centralized management or you are trying to make a profit here, I doubt it.

Fiat currencies and the larger global financial system are generally characterized by control, manipulation, debt, even threats and murder, and other factors which are not present with Bitcoin. Bitcoin is fundamentally ruled by codes. The rules are not imposed by rulers or by a few powerful elites or by power struggle. The basic rules the protocol is abiding with are set in stone. If this is the case, and many would shift to the Bitcoin way, then this global financial system based on fiat would certainly be weakened.

Actually, what is more appropriate is not the system but the public's trust in fiat currency, because there is always manipulation, printing money at will, being used to intervene in other people and many more. And today the world is starting to see As crypto has developed since it was created and has begun to influence the views of other people towards the currency used, the reflection of bankers is making an option of resistance to the progress of crypto adoption with CBDC, this is their fear of the widespread adoption of cryptocurrency in various parts of the world.
Then how can crypto affect the global economy, what is clear in my opinion is that there will be no third party that regulates transactions between producers and consumers at the global level and there is no inflation which makes prices continue to rise every year because crypto originally had supply limits.

No, I think that is the reason why the government will strongly oppose Bitcoin being used as an official global currency.  Being an alternative is good enough though.  Bitcoin since its creation is a global currency ready but majority of the government isn't ready to adopt it even as an alternative currency due to the fact that government cannot control it and can't mint more of it as much as the government wanted.

Definitely, cryptocurrency will weaken the grasp and control of the government over the financial industry if most of the world population adopted Bitcoin.

It's difficult to predict how cryptocurrencies will ultimately impact the global financial system. It will likely depend on how widely cryptos are adopted and how they are regulated. It will take more time for their full effects to be understood. That system which is managed by countries has its flaws as their local currency in not accepted on other country. If there's an option to convert any local digital currency to your own local currency then that could change the game. But that is yet to happen as you will need higher fees for converting process. And that's why BTC is the best. Anywhere you go, BTC is BTC.

But even someone who's interested with it, they'll start to realize it that it's going to be use mainly where it's generated by that particular country. Yeah, the exchanges might add it up and they'll pay them with the free money generation that the government did with these CBDCs and so the volume will be made into billions by these exchanges and people will be enticed to it not knowingly, that they're just adding to the volume of a so called crypto even though it's really not.

1.Bitcoin/crypto exists for more than 10 years. Do you see any signs of the global financial system being weakened by Bitcoin/crypto?
I don't see such signs. :(
2.The national currency of Venezuela-the Venezuelan bolivar is more worthless than toilet paper and the PETRO currency failed, because Venezuela is failing at it's own oil production. Please don't use Venezuela as an example for "financial independence".
3.The current fiat financial system will keep dominating the world in the upcoming several decades.

Cryptocurrency is just a pump and dump market and we are gamblers, it has not been widely adopted, the market capitalization is smaller than a US company like microsoft or apply, how can it be said to have an impact on the world economy? Maybe in the future when it grows more, there could be an economic impact but not for now.

There are many who believe that the planet's economy does not need cryptocurrencies and that crypto will not solve its problems. While others believe that cryptocurrencies are an alternative to fiat money and can replace it in exchanges and transactions, but this is very far from being realistic.
Today we see many countries launching cbdc currencies to support their financial system, but these currencies are not cryptocurrencies and they do not go beyond being a digital copy of money, and it will not be possible to use them in foreign exchanges since each country will have a copy of cbdc that is independent and different from cbdc launched by other countries.

Bitcoin is already making an impact in the world despite the challenges it faced some years ago. Bitcoin was created to remove the middleman in transactions, and this has the potential to affect the global economy.
It operates without the need of a central bank or government.
The thing now is that centralized institutions no longer have such power as they used to have before.
Bitcoin helps the unbanked and underbanked. We already see that it is disrupting the traditional financial system and economy by providing access to unbanked and underbanked people.

'coz it definitely won't. The fact that cryptocurrencies are decentralized, means they have nothing to do with anything affiliated with government such as a country's economy, and this applies to all countries. On the other hand, cryptocurrency industry is being affected by the economic situation, indirectly, because investors are the ones being affected, which would affect their investment routines such as not being able to invest that much or sometimes even forcing them to sell their asset to cope up with daily expenses. This is how I view the relationship between economy and this technology in general wherein there is only a one way interaction. The market prices have reached their ATHs but poor economies remained poor, that's how proven this is.

For one to say that crypto doesn't have any impact whatsoever on the global economy is untrue because if it doesn't why is it that they try to impose regulations and ban it in most countries... An example is this; in my country the dollar was constantly increasing against our currency so I went into the crypto black market and traded it for cheaper rate than buying it from on ground vendors.... If 30% of our population where to be aware of this imagine the impact this would have on my country and also on a global scale?

What I regret most is that whales only benefit from price fluctuations and the huge investments they make generate profits from which the economy does not really benefit. At the same time, the sectors benefiting from the use of crypto do not represent a large percentage capable of truly influencing the global economy.
This is likely to change for the better over time because crypto usage is spreading rapidly. But no one knows when this might happen due to the high volatility in the crypto market and the turmoil of the global economy affected by many other factors.

I agree, Bitcoin making government react and impose regulation is proof that Bitcoin has an impact on the global economy.  Bitcoin can help countries through start-ups by creating more jobs for people.  It can also enable the unbanked to participate in the country's economy since they can do transactions that they are not able to do without Bitcoin.  Aside from that Bitcoin also helps with the energy grid through Bitcoin mining activity which can help lowers the energy cost of a community where there is a surplus of power supply.

Cryptocurrencies have been trending for the past few years, but unfortunately what is often conveyed is bad things, for example transaction crimes such as money laundering, illegal weapons transactions, fraud, drug transactions and so on, if we are honest, the positives of the presence of cryptocurrencies certainly outweigh the negative effects. and it has been proven that many people are successful and open new jobs so that reducing unemployment is the positive impact of the presence of cryptocurrencies.

The circulation of crypto does not yet exist in all countries as global economic progress has been and continues to be, it is very difficult to bring economic prosperity to countries with large populations and limited natural resources. Boundless corruption makes this whole thing more difficult all countries are competing to keep their standards down. Many countries in the world are now thinking that they can stimulate their economies by keeping standards low.

We must not forget that Bitcoin (digital currencies) opened the door for a large number of people to find work via the Internet and get their wages, regardless of their geographical location or the policies of the countries to which they belong. This has contributed to reducing unemployment rates and helping the largest number of people (especially those living in conflict areas). Countries with limited resources can now activate new resources using Bitcoin only.

Not only unemployment rate, Bitcoin also open the portal for the unbanked and underbanked to join online transactions.  Bitcoin also give chance to those people who are rejected by banks due to some reasons, to transact online since some merchants are accepting Bitcoin as mode of payment.  Bitcoin also enable a person to send funds anywhere in the world.  Bitcoin disrupts the centralized financial system by giving chance to people who are rejected by centralized finance system of transacting globally.

the impact to the global population of crypto market may not be big at the moment, but i do believe, there are many people who changed their life owed to crypto market. this forum alone is a witness for all the lives it changed throughout the years.
take a small step at a time, we should not aim for crypto to be the major influencer in the financial market because that's a long way to go. but at least, this market is already getting heard from the financial big boys.

Unfortunately, despite all this, Bitcoin still faces many difficulties that prevent it from further spreading. If the legislation of a country does not support digital assets, then the use of crypto in that country will remain limited, and it is not in the interest of anyone for the authorities to discover it.
In a few months, the World Bitcoin Congress will be held in Miami Beach, USA. There are expectations that there will be actors in the political and economic arena, including the President of the State of El Salvador, who was the first country in the American continent to announce the adoption of Bitcoin as an official currency.

This makes it very difficult for the general public to access and use Bitcoin as a financial asset or means of payment. Although many people believe that blockchain technology and cryptocurrency have the potential to change the world and strengthen the global financial system, there are still many obstacles and challenges that must be overcome before this can happen.

Price instability, security issues, and lack of regulation are some of the other factors that prevent the spread of Bitcoin. The need to ensure that the use of Bitcoin does not facilitate criminal activities such as money laundering or financing terrorism is also a factor that must be considered.

To expand its spread, cooperation between stakeholders and clear and effective regulation is needed. This can help ensure that the public can access and use Bitcoin safely and easily, and strengthen its position as a financial asset and means of payment

The hope that there will be actors who will play an important role in promoting and implementing the use of Bitcoin in the political and economic arena.  This includes governments, companies, and organizations with interests in finance and technology.

With more countries and companies starting to recognize the potential of Bitcoin, it is likely that there will be increased support for the use of Bitcoin in various fields, including politics and economics.  However, more discussion and research is needed on how Bitcoin can be used effectively and safely in this context before further action is taken.

Broadly speaking, crypto has not had any impact on the global economy because so far crypto circulation is still within the scope of the digital currency market itself. Indeed, several countries are starting to become aware of the increasing circulation of cryptocurrencies that provide their local exchangers. But what the government is worried about is crypto trading and investment which is very volatile and risky, so several countries have decided to ban crypto.

In my point of view cryptocurrencies have effect the world positively because cryptocurrencies have the power to completely change how we engage with the world economy. The first advantage is that anybody, wherever in the world, anybody can use the cryptocurrency. Blockchain technology  makes cryptocurrency transaction instant and very secure. Cryptocurrency can provide several benefits to small business, another positive impact of cryptocurrency on society. The low transaction fees that come with cryptocurrency one of the biggest reasons many establishments have opted to accept the digital currency.

No, Crypto can not weaken the global financial system instead AFAIK it back it up, because the global financial system was already weak and it has proved in the 2008-2009 bank crisis which you might hear of. From where the origin of the crypto industry started. So i don't think so, it's true to say such things about crypto.

Why?

1. Governments always want to control every sector of life through money flow and they are doing it from the origin of banks, but due to crypto, they are facing difficulties and their supporters are making such accusations or at least putting such ideas in people's minds. They even tried to start a CBDC system so that they could meet the need of those who are demanding digital assets instead of fiat ones. But do you know why are they also failing?

2. Answer to the aforementioned question will be dealt here. Most of people say crypto is decentralized and it has given more increment in the money laundering and etc. activities. I have a question for those, if that's true then admit that there was no such illegal activity in the fiat system. Even we have seen many events in the past of money laundering. Even the governments involved in bribes and such illegal activities don't like digital systems based on Blockchain because they know every transaction will be detected so that's why they are against CBDC too.

The point is, every new technology that eliminates the evil of society will be targeted by evils. Even illegal activities are also triggered by such evils which should be captured. So, that crypto could show it true impact on global financial systems.

If we try to cover it in one line then, "there will be no banks if crypto's adoption becomes mass". And they can't afford to lose banks.

I agree that it allows us to see an alternative path that will allow us to make as much profit as possible and that is a good deal, but that doesn't change the fact that we are dealing with a profit that is only depending on the market volatility as well here.

However, when we are talking about using it instead of just investing into it? That makes even bigger changes. Like think about all the people who can do a lot more money thanks to bitcoin right now, paypal used to be considered the best method of payment, but now bitcoin has passed that already, and by a million times more as well. Why? Because paypal is a company and you would have to deal with so much company BS when you are dealing with it, whereas when we are talking about crypto, it makes things a lot better.

Central banks produce fiat money within controls, while cryptocurrencies are not subject to any controls and are produced through mining. Some countries have exploited digital currencies to their advantage within controls, but the entry of cryptocurrencies could weaken dominant countries' control over the global financial system. This could have an impact on the global economy and the use of traditional currencies linked to gold and precious metals in commercial transactions.

I think this shows that the effects of the cryptocurrency is still on a personal level that those who engaged ion it for now get the benefits of engaging to it. So, we can say that global impact of it is still uncertain in the way that it does not have a direct impact on most of the countries that it could have a combined global effect. But, the way the crypto works which offers a decentralized way of transactions have its impact on the world making it realize that these method is possible. It has its own fair share of pros and cons, so let's see if the global economy would really be affected by cryptocurrencies.

Positively, Hasn't Cryptocurrency been a better and sound money since it's creation ?!
To get things right, the Venezuela digital currencies won't thrive as they think it would. The Financial system hasn't been of any good benefits to the poor, low class and average.

Are you saying you love it when they're in control and has power over your wealth? Both the fiat currency and central bank digital currencies are all backed by the government still, so the same process continues.
Honestly, the system has been in favor of the rich , so it's better you switch to Bitcoin or any better doing Crypto Currency other than Bitcoin.

Using Bitcoin gives you control, only if you're interested in self custody and not on centralized exchnages. CDBCs would thrive to an extent. But Crypto Currency has done more good than harm to the informed than ill-informed. Negatively, I'll say it's Volatility, as as for those who can't keep up, kindly sell all of your Bitcoin and Run from the stress and for good. Smiles.

Crypto currencies can affect global economy in example they can provide alternative to traditional banking systems that can lead to increased financial inclusions and it can reduced transaction fees. Crypto currencies can reduce the need for the intermediaries. However crypto currencies can be subject to speculation and volatility, which can result to financial instability. The anonymity and lack of regulation can make them more attractive to hackers and criminals for money laundering and other illegal activities. The impact of crypto currencies on the global economy is continuously evolving.

Fiat currency is now also available in digital form, meaning that fiat money can now also be used without having to hold it in real or cash now. And this is based on the presence of cryptocurrency which has been able to provide a good basic example for all countries even though not all countries want to use cryptocurrency.

But for now there are already many countries that want to develop a system for using fiat currency in a better and more advanced way because the countries see the convenience behind this, as exemplified by cryptocurrency. So the presence of cryptocurrency has provided a little convenience for many people who frequently transact every day using fiat money, and even more so for those who really like cryptocurrencies. I really feel the impact of this personally in my life.

But there is an important point that in the current era, the full benefits of Bitcoin cannot be enjoyed in isolation from the global system based on centralized currencies controlled by the influential parties. Bitcoin represents a solution to liberation and complete financial independence if it is possible to deal with Bitcoin directly without the need to evaluate it according to the price of any of the fiat currencies, and without the authorities being able to monitor my financial activities.
Also, do not forget that Bitcoin in particular is still awaiting a number of updates in order to be able to compete with other currencies, especially at the level of privacy.

Of course this has happened in previous years where the digital era has made it easier for banks to attract their customers using fiat currency in digital form. Well, basically everything the government does is follow the development of digital currency or cryptocurrency which is growing rapidly at this time. Cryptocurenccy has changed the era of world economic growth and has become a strong enough runway for countries that want to adopt it. like el salvador which has legalized bitcoin so this will become the awareness of other countries to adopt bitcoin.

Besides that, the main thing about cryptocurrency influencing the global economy is in the form of transactions that are fast enough and easy enough to do anywhere, which makes cryptocurrency easier and slowly cryptocurrency will grow more rapidly than what we have seen so far.

That's a means countries use for introducing something that is similar to cryptocurrency while they rejected the adoption of cryptocurrency for the first time, i believe that they known what's centralized currency all about and what decentralized is also all about, so whatever approache they are using to Link it with decentralized format I think it will not come to reality.

None of what you've mentioned are points that describe how Bitcoin or cryptocurrencies affect the global economy. These are just the advantages of Bitcoin or cryptocurrencies that an individual will get for using Bitcoin or any other cryptocurrency. What do you actually mean when you say cryptocurrencies have the power to change how we engage with the global economy?

It's the countries and their trade and other activities that contribute to the global economy, a country having a very good economy will positively affect the global economy while a country with a bad one does the opposite of that.

Crypto currencies have the potential to impact the global economy. They can provide an alternative means of exchange and store of value outside of traditional financial systems, which can be particularly beneficial for individuals and businesses in countries with unstable currencies or limited access to banking services. The decentralized and unregulated nature of crypto currencies can also create risks, such as market volatility, fraud and money laundering. The increasing adoption of crypto currencies by mainstream financial institutions and investors has the potential to disrupt traditional financial systems and impact on global markets. The rise of bitcoin has been linked to fluctuations  in gold prices and some experts predict that crypto currencies could eventually replace fiat currencies as a medium of exchange. The impact of crypto currencies on the global economy is complex and evolving and will likely to continue.

Of course, they know what a centralized and decentralized format is. In no world will the government of any country create what it cannot control. They can never create what will be completely decentralized. If Bitcoin were a centralized network, it won't have most of the issues it's having today. The contact scrutiny from governments of the world won't be there. This is evident in their creation of CBCD.
From my understanding of CBCD, it's just crypto, but in a centralized way. Meaning this is crypto they can control. The difference is people don't trust it.

Its simple to think how bitcoin could give effect to the global economy since if taxation will fully implemented on country for sure many can get benefit on it since they can get money on crypto since globally many people using it. Crypto is a billion or even a trillion industry if they could just see this one as positive aspect of adopting it for sure their country can get benefits to gain more revenue from this industry. Although there's huge risk on crypto but if they properly regulate it for sure to many great things will happen on it.

From what I can see, cryptocurrency has a positive impact on the economy because we are gradually changing the way we think and how we operate this economy. First of all, cryptocurrencies have the potential to provide alternative means of exchange and storage of value, especially in regions with volatile currencies or limited access to traditional banking services provide alternative means of exchange and storage of value, especially in regions with volatile currencies or limited access to traditional banking services. So as financial institutions and mainstream investors increasingly adopt cryptocurrencies, it has had an impact on traditional financial systems and global markets. The integration of cryptocurrencies into portfolios and the introduction of crypto-related financial products demonstrate the growing recognition of this asset class.

I think the government really knows the capability of Bitcoin and the entire cryptocurrency that is why they are now creating there own digital currency to boast there economy because they know that many people prefer to use digital currency to run transactions because it is very easy and stress free. There are many countries that have there own CBCDwith the hope that there citizens can make use of it to run online transaction sonit can replace cryptocurrency.

There had been long interest in investing in cryptocurrency by many people and to halt that, the government are still looking for a way to lure us to use there digital currency so there would be no need to consider cryptocurrency as an opportunity.

Thinking in a positive light, cryptocurrency is an industry that can bring money to a country if they take optimal advantage of it. For example, economic promotion and job creation are based on fundamental blockchain technologies, which show significant potential for innovation, entrepreneurship, and the development of blockchain-based applications. If they remove cumbersome regulations and instead create new regulations with a favorable regulatory environment, that can attract crypto businesses, investment, and talent, which can contribute to the business development economy while at the same time protecting against illegal activities and protecting the interests of consumers.

I think the biggest fear of banks about the growth of crypto is that fiat money will really disappear if everyone uses crypto as a means of daily transactions. efforts to prevent that several regulations set to regulate crypto will fiat not disappear. unfortunately some financial people use crypto to take their blockchain but not adopt their crypto.

Central banks are based on producing fiat money within controls and according to a corresponding stock of metals such as gold, or a reserve of major currencies such as the US dollar.

As for encrypted currencies, they are not subject to any controls of any kind and are produced by individuals (mining). However, some countries that are subject to economic crisis's or international sanctions have exploited these digital currencies and used them in their favor within controls ; The Venezuelan government issued a central digital currency called "Petro" and linked its price to the price of a barrel of local oil which means linked it to oil and precious metals. Also, China has also issued the Chinese yuan, which is a digital currency different from the decentralized blockchain.

Is it true that cryptocurrencies will weaken the global financial system? That system which is managed by countries with the strongest economies with their currencies that has gained wide acceptance to be traded in financial markets all over the world.so i realy think that the government knows the capability of the bitcoin and the cryptocurrency.

If we looked at the positive sides of things, cryptocurrencies can be a great help to a country's economy. It can provide financial services to individuals in countries that are in economical crisis. With the massive inflations in Venezuela, people can use it as an alternative. By joining the cryptocurrency ecosystem, it enables them to store, send, and receive money without relying on traditional banking systems.

Take El Salvador for example, they are the first country to make bitcoin legal tender— requiring businesses to accept cryptocurrencies. They made it like that because according to world bank, only 30% of their people had a bank account in 2017. Thus, hoping that by using bitcoin, it will raise and promote financial inclusion which will help their economy. Still for now, there are many cons like the volatility of bitcoin that is always changing.

Now cryptocurrencies can also do faster and cheaper cross-border transactions compared to traditional ones like wire transfer. By removing intermediaries and transaction costs, it can streamline global commerce and enhance economic efficiency. The things those countries are doing are still new, there might be a big problem now but after a few years, I think many solutions are to be made. 

I'm not sure that the cryptocurrency currently has any significant impact on the global economy, for this we still have a long way to go. Even the example of El Salvador is an example of local adoption and it is difficult to talk about some kind of influence of cryptocurrency outside this country. Of course, the example of El Salvador is very bold and in the future can serve as a good example for other countries, but this will only happen if El Salvador still manages to achieve significant positive results due to the adoption of bitcoin as a means of payment.

Fiat money will disappear soon and it has nothing to do with cryptocurency which is because the world is getting digitalized and every transaction is now been done through digital banking as we have cashless policy getting introduced in all part of the world. With or without cryptocurrency, we'll have credit cards been accepted in stores and there won't be need for cash.

Cryptocurency is only making it faster and since they government can't control cryptocurency, it's becoming a threat which is why the government are fighting against it. Blockchain and cryptocurency works together and soon the government will realized they can't stop it.

What you say is not wrong, but it is also important to note that not all places that do not have traditional banking can have a good internet signal, so individuals who want to use Cryptocurrency services still need to ensure this. Because there are indeed places with good internet signal but very lack of infrastructure such as banking which may be due to the very small population.

However, there are also places where the internet signal is bad, so all the infrastructure cannot be built because it cannot run. So it really doesn't matter if there is no banking, but if the place is remote, every individual who wants to use Cryptocurrency must really have sufficient internet signal so that its use can be operated.

To be fair, cryptocurrencies haven't had any impact on the world economy yet, which is a fact that I think many people still don't want to believe. Nothing compares if we look at the world's over $100 trillion economy while capping the entire cryptocurrency to just over $1 trillion. It must even be said that the entire crypto industry is worth less than an American tech corporation. So how can it be said what effect it causes?
Although there are already some countries that accept bitcoin as a legal tender like the El Salvador you mentioned. But most of them are just small countries that many people don't even know exist, it is difficult to generate real attention even if they succeed.

usually it scares the bank. but if it fulfills the global economic scale crypto enters through many industries, almost all industries can be entered by cryptocurrencies. as we can see now all crypto has its own industry and some of them have been successful and have survived until now. I think the problem now is regulation because some projects find it difficult to develop in their countries which are too strict in terms of financial regulations.

Cryptocurrencies may or may not impact the global financial system. Decentralized digital currencies such as Bitcoin function outside conventional regulations, in contrast to centralized digital currencies such as Petro and the Chinese Yuan. Their presence in the market might put pressure on the dominating economies and currencies associated with precious metals. However, its overall effect on the world economy remains unclear and requires further research.

I don't think El Salvador has failed, their bitcoin acceptance hasn't even been 2 years, so it's hard to say anything.  I mean, we need more time to get the final answer.  but to be fair, I personally don't see any impact of cryptocurrencies on the national macroeconomy, let alone the global economy.  crypto is still a small market for small individuals and institutions, but this will soon change as things evolve over time.  i am pretty confident that if cryptocurrency can maintain its current momentum, it will definitely be an important player in the world economy.

Well, by terrifying banks or traditional financial institutions, it doesn't affect the global economy. This thing only might affect the user base of banks and other financial authorities since their users or customers might grow an interest in decentralized cryptocurrencies like Bitcoin more than the traditional modes of holding or using their money.

This is basically the reason why governments are always eager to regulate cryptocurrencies and don't openly allow them to operate within their countries and let their citizens use them normally like they use banks and other financial applications.

Cryptocurrencies have been proven to provide many benefits, now more and more new rich people from cryptocurrencies, owners of top exchanges such as Binance, Coinbase, Crypto.com, and so on often provide humanitarian assistance around the world, this is because their wealth has skyrocketed every year.

Not all cryptocurency has been successful because they haven't added any real value as they promise, they have only succeeded in scamming their investors and also given the lucky ones profits but they haven't affected the global economy and they can't do it because they're not recognized buy the community as a currency. Only Bitcoin can have an impact in the world economy. Bitcoin success will benefits the rest of the cryptocurency market.

But that benefits will only be in gaining profits on our investment but people won't use altcoins for sales unless the centralized ones like Binance coin that'll use their influence to get people using their tokens but still it won't be acceptable worldwide like Bitcoin.

Cryptocurrencies could weaken the global financial system by undermining the control of central banks over the money supply. However, cryptocurrencies could also strengthen the global financial system by providing a more efficient and secure way to transfer money.
It is still too early to say definitively whether cryptocurrencies will have a positive or negative impact on the global financial system. However, it is clear that they have the potential to significantly disrupt the status quo.

crypto is becoming the toughest rival of central banks. but it can still grow green in some countries and until now there are still many developing crypto projects. I think crypto really influences the global economy because many industries are crypto-based now. the main crypto is finance. but they can enter any industry of their liking.

I think the task of the cryptocurrency is not to destroy the global economy, but to be an important part of a large mechanism. In fact, crypto is another way to pay and save your funds simply in the form of electronic money, which is much more convenient than any banking structure and their services. At this stage, I think crypto will get more recognition.

One of the most impact of cryptocurrency to global economy is the decentralization of financial transactions. Wherein individuals and businesses can transact without the need for intermediaries such as banks, which could lead to lower transaction fees and faster processing times. Another way cryptocurrency can affect the global economy is by providing more stable and secure store of value compared to traditional currencies. This could potentially reduce the volatility of currency markets and provide more stable investment option for individuals and businesses. There are also concerns about potential risks about cryptocurrency such as its susceptibility to fraud, money laundering and market manipulation. Cryptocurrency has the potential to revolutionize the global economy.

Either the government like it or not cryptocurrency had make a remarkable remembrance in the entire era of fiat and government controlled currency because cryptocurrency is now all over and planning to takeover, the world and global economy system is changing positively in this modern developments we are having, because there will be no need of relying on the government or any central authorities to perform the change we want in the financial economy.

Many governments do not like the crypto market and are attacking it for this reason. All will fail because people no longer trust banks and governments. They are not wrong about that either. The global awareness of Bitcoin is increasing day by day. As the number of people who know and use Bitcoin increases, crypto money is firmly taking its place in the global economy.

The answer to the question asked in the title is that cryptocurrencies positively affect the global economy for users.

This positive effect will come to a good level thanks to us crypto users. We will take our place among the architects of this beautiful thing.

I can't directly see the serious impact of Cryptocurrency on the global economy. But for developed countries that now dominate the global economy, the presence of cryptocurrency might indeed have an impact on them and slightly weaken the dominance they have maintained for a long time. But for developing countries the presence of Cryptocurrency can actually stimulate the growth of a more independent economy and begin to break free from the shackles of economic domination from developed countries. Currently, CBDC has been widely tested and implemented by several countries, but what I mean is not limited to this. But the presence of Bitcoin and other crypto is actually included in it.

It is true that China has been at the forefront of CDBC(Central Bank Digital Currency) development and has made significant progress with its digital Yuan. however, We should keep in mind that development and implementation of digital currency is an independent decision of a sovereign country and it entirely depends on its unique circumstances, priorities, technological readiness, economic condition , public acceptance and regulatory considerations.

I have also fully acknowledged that cryptocurrencies are actually things whose purpose is to make it easier for everyone to store assets and use them when needed without having to go through the bank, which has a slightly complicated mechanism. Although almost all cryptocurrency users also still use the bank when they need it and I think it's not a problem because the basic advantage that can be felt by all cryptocurrency users is that it is easier to store assets and also when sending them to the market.

How do cryptocurrencies stimulate economic growth for developed countries and break free from the shackles of other great powers? I don't even see any effect at all. Cryptocurrencies are still just a volatile speculative market, if any country adopts it, their economy will be more at risk because of its erratic volatility. In the future, things may change, but for now, cryptocurrencies do not have any contribution or influence on the national economy.

The impact of crypto currency in the global economy was not a visible one,but it was survive along with the investment.As we know almost people around the world had their 10-20% of investment into crypto currencies.Most of the money holders of the world had their investments into the crypto currency.Hope you guy’s doesn’t forget the Elon Musk involvement to the cryptocurrency and had their assets into the dogecoin.The meme coin Doge get huge investors due to Elon involvement.

Another known benefit of cryptocurrency is financial inclusion and economic inclusion.  This enables the unbanked or people rejected by banks to participate in economic activities.  And it also enables the unbanked to interact with financial activities such as fund transfers without the need for intermediaries like banks.

Indeed, crypto currencies provide unprecedented opportunity for the un-banked population or those rejected by traditional financial system, to access the financial services and participate in economic activities. This unbaked population can use alternative means to store, transfer and receive funds without relying on traditional banking system. One of the most appealing aspect of crypto currencies is increased autonomy  autonomy and control compared to traditional financial system. This level of autonomy and control is truly the beauty of crypto industry.

Up until now, I haven't formed a viewpoint regarding cryptocurrencies that could potentially replace the prevalence of the most popular FIAT currency today. The institutions behind FIAT possess immense power and influence over governments, directly influencing the doctrines accessible to their respective populations. Their sovereignty in governing the general public is still widely upheld, making it exceedingly challenging for decentralized assets to challenge the well-established system.

Cryptocurrencies are acknowledged as alternative assets, yet they will never disrupt the overall dominance of the USD.

Cryptocurrencies, like Bitcoin, have the potential to bring both benefits and challenges to the global financial system. Some people believe that cryptocurrencies could offer more inclusivity and faster cross-border transactions. However, there are concerns about their price volatility, lack of regulation, and potential risks to financial stability. It's an evolving area that requires careful consideration and monitoring.

And the centralized system is not yet ready to face those concerns when they try to adapt cryptocurrencies to everyday life. The transactions you will make using crypto are much more convenient and less fee worldwide. As you said, crypto involves volatility which can't be used as regular money that people use for any transactions they make in everyday life imagine your 1 coin would be less worth its value before in just a short time right? Plus if people transitioned to adapting crypto rather than fiat money, then it will literally have a huge effect on the economy and fiat would be worthless where most of the country relies on fiat money.

It is not as easy as it may sound, cryptocurrencies or Bitcoin are not ready to take over the fiat financial system that has been around for centuries, I know that authorities and governments find it threatening because people are giving it a lot of importance and are investing a lot of money and using it widely, but they also understand that Bitcoin can't just be used like a fiat currency because it isn't stable.

Imagine having Bitcoin instead of fiat, you have a lot of wealth, you sleep at night and when you wake up, the price of Bitcoin has dropped significantly, and you go from rich to poor in one night. This is just an example, I know Bitcoin won't drop that much in one night.

Every country's government system wants to control money.  Because bank transactions other than Bitcoin are controlled by the central bank, the central bank is the regulator of all the economies of the country that does not have the facility of Bitcoin transactions, but if a country has the facility of Bitcoin transactions, then the money that will be converted to Bitcoin will not be controlled by the government. This is probably why Bitcoin has not yet become an alternative currency worldwide. And because different criminals commit different crimes through Bitcoin, the governments of different countries take negative decisions about accepting this currency in their countries.

If you are worried about price volatility, I think it is very reasonable and also very common for everyone. Because not everyone likes excessive price reductions, and vice versa, so this is a normal thing to worry about. As for regulations, I don't think there's anything to worry about because slowly the regulations on Bitcoin will become clearer when there are already several countries that are happy with Bitcoin and some have even adopted it as a legal payment in their country.

So you don't need to worry about this, but you need to be a little worried about the price which is not in a stable condition, but there are also benefits that can be reaped when the price is unstable. One of them is that everyone can buy at a low price and sell at a high price if they are able to monitor it carefully and never miss the two moments (up and down).

Now a days Cryptocurrency affecting Global Economy. Many countries accepting bitcoin and many digital currency. Recently LSalvader accepted vitcoin as a legal currency. Beside LSelvader USA, Canada, France, Denmark,  Germany declared Bitcoin as a legal currency. So day by day Cryptocurrency Being Popular. For this reason Bitcoin and another cryptocurrency using various sectors. Its usability increasing day by day. For covid situation created world economic crisis for thats situation people come back from finical Bank transaction. Many people dependent on cryptocurrency. They investing on crypto.

Overall we can tell now a days cryptocurrency is big Fact for global economy. So it is proved that cryptocurrency affecting on global economy there has no doubt.

I don't know but I think for now it has no or little effect on the global economy I mean if Bitcoin or other crypto assets go down it maybe has no effect on other investment alternatives ex. stock unless they have a correlation with the crypto itself like MicroStrategy or other bitcoin-related companies. Or maybe it has an effect on countries like El Salvador because they have been using Bitcoin as a legal currency there.

and CBDC is basically fiat but using blockchain technology correct me if I am wrong, and has nothing to do with the crypto. maybe people who hear about blockchain technologies first that they think is bitcoin

If I say bitcoin is increasingly popular because people have more and more needs to invest and make money online, I agree. But to say it has an impact on the economy of the country or the world is an exaggeration, and there is no proof for that. Almost everywhere sees bitcoin or cryptocurrencies as a financial market, mainly for speculation without any intrinsic value. How could it affect the world economy? Considering its capitalization is even smaller than that of a company like Google, so its impact is negligible. They only bring benefits and influence at the individual level, but it is nothing for the global economy.

Many Many countries are accepting Cryptocurrency mainly Bitcoin so i think it has some impact obviously. Moreover you can see today's marketcap $1.06T it is huge. How this Big amount out of Global economy? How do we avoid this massive economy from Global economy? All side consideration i think cryptocurrencies affect Global Economy. Each persons thinking are different. It is only my opinion. Maybe your opinion is right but i tell my Opinion. Thankyou.

According to the recent targeting of active platforms in the United States and trials based on suspicion without even providing sufficient evidence, it is becoming increasingly difficult for cryptocurrencies to maintain their position as a potential savior from the crises of the global financial system and from them to positively affect the economy.
It is likely that many countries will follow the example of the United States in the context of a policy of tightening procedures before allowing these platforms to erect, and therefore companies that were intending to start accepting crypto payments will reconsider those intentions, and in the best cases, they will impose strict procedures as well.

Indeed, It's a bit of a tricky situation, my friend. Some people like the idea of a currency that is not controlled by a government. They see it as a way to break away from the traditional system. But others are worried about the consequences and potential chaos that might come with it. That is why different countries are taking different approaches to cryptocurrencies. Some embraced them, while others kept their distance. that's what i noticed at the moment.

will crypto weaken the global economy? the answer is no, because crypto's influence on the global financial system can be considered not too big. In fact, cryptocurrency will complement the global financial system by providing a faster, anonymous and secure payment system compared to what is offered by central banks, and this will be an option for those who want to make transactions internationally but don't want the hassle.

so there is no strong basis for saying that cryptocurrencies will be able to weaken the global financial system, because even though the crypto market is quite large, it cannot weaken the global financial system as a whole, unless everyone switches to cryptocurrencies where the possibility for that is small.

Just thinking and predicting is not enough, we need proof for that. The world economy is worth more than 100 trillion, but the whole crypto market is only 1 trillion, of which bitcoin is just over 400 billion. What impact do you think it will have? I am also an investor in bitcoin, but I need reality and facts, not exaggerations and illusions, it is of no use to us. We should accept reality and support each other so that bitcoin and the community grow stronger and make a significant impact on the world.

Cryptocurrencies have the potential to impact the global economy, they can provide a more efficient and secure means of conducting transactions, particularly across countries. This could lead to increased trade and investment as well as reduced transaction costs.  Cryptocurrencies also pose a number of risks to the global economy. The volatility can make them a risky investment, and their lack of regulation can leave investors vulnerable to fraud and other forms of fraud. The rise of cryptocurrencies could threaten the stability of traditional financial institutions, particularly if they become widely adopted as an alternative to fiat currencies. The impact of crypto currencies to global economy remains uncertain. They also pose significant risks that must be carefully mananged in order to ensure their long term viability.

When I asked that question, it was on the grounds that it could reach the size that could authorize it to influence the global economy. And when I say that it can weaken it, I mean that it is able to offer better alternatives capable of building a strong economy to replace the old system.
With regard to the current situation, it is certain that cryptocurrencies are not of sufficient stature and size to carry out such effects, but it does not negate the fears of central financial institutions that have become more hostile to this technology and do not hesitate to set up ambushes to trap it in order to cause its popularity to decline. What is happening today with some platforms in US courts actually proves that the task is never easy.

well everything has positive points and negative points in it. But for now the impact of cryptocurrencies on the global economy may still not look that big. Because as we know Crypto adoption has not even been evenly distributed. Even the adoption of bitcoin as a legal means of payment has also only been legalized by a few countries such as El Salvador and the Central African Republic if I remember correctly.

But in the future when people know more about what a centralized system is and what a decentralized system is and when the majority of people start to have a high interest in crypto then indirectly at that time crypto will really have an impact on the global economy. either from a positive or negative side.

One of the reasons people demand that Bitcoin maintains a market cap in the trillions, even during bear markets, is to minimize the extent of market dips. Currently, Bitcoin's market cap remains relatively low compared to commodities such as crude oil, natural gas, and various others.

You are talking like the journalists from back in the days when Bitcoin was first getting popular who used to keep calling Bitcoin a criminal currency that is used to fund criminals and different illegal activities worldwide, some people still think the same way about it, and some governments use that as an excuse to not allow the usage of Bitcoin and cryptocurrencies within their countries and to keep their people away from it.

Do you think that normal money cannot be used for criminal activities? There are always two sides to anything, one is positive and the other one is negative, now it depends on you how you use it, but you cannot call a thing negative or positive only because it has both qualities, it's you who is either positive or negative because you use it that way.

Indeed, cryptocurrencies could redefine economic landscapes, particularly in global transactions. But can we judge if it's for better or worse? Isn't such ambiguity at the heart of a vibrant, evolving economy?

Though adoption is regionally biased, isn't this true for all early innovations? The internet or mobile tech serves as examples! Early adopters, like El Salvador or the Central African Republic, lead the way for cryptocurrencies.

With the growth of awareness around decentralized systems, so too will their uptake. We're stepping into a digital assets era. It's risky, but isn't every new domain? Let's welcome it, armed with prudence and stringent regulations!

So true. and actually those who are taking a step earlier like El Salvador are the ones who have the courage to innovate. although the economic conditions in their country also pushed the adoption of bitcoin. Because for now El Salvador still depends on the dollar because their own local currency has not been used for a long time. So bringing Bitcoin to their country may also have opened the eyes of some countries that have the same conditions as El Salvador. So then the Central African Republic also followed suit. and several other countries which are also still studying like Panama or others I forget.

well we have to welcome well and enthusiastically. and also be careful. every new thing that pops up is always on the lookout for but over time everyone will start to accept it equally. like the internet in the past. And all things certainly always have a positive and negative side. we just have to make good use of it and avoid its downside.

The growing marketcap of cryptocurrencies proves that many people are getting into cryptocurrencies, in many countries there are reports saying that the increase in users is very significant, this is what makes cryptocurrencies an investment that can make people successful and rich, of course we have to be selective in choosing cryptocurrencies because when it is available more than 25k cryptocurrencies.

Currently, the total market cap of crypto currency is around 1.07 trillion US dollars. And a few times ago in November 2021, its total market cap crossed over the $3 trillion. So it is understood that it is holding a huge amount of market. And the more the trade volume I think the more the impact on the economy is natural. So sometimes big crypto currency adopters of big countries can have some influence on other countries or the whole market for holding more amount. But I think it doesn't last long, still I think it's possible to eliminate it, to start global adoption instead of adopting it among less numerous people.

Surely, the adoption of cryptocurrencies on a global scale may have positive effects on the economy, but we should take on consideration that this should be achieved with caution. In simple words to explain, it should be noted that the use of cryptocurrencies carries some risks, such as the risks of fraud, hacking and market manipulation. So this is why the necessary measures must be taken to protect users and investors. We can't also deny the fact that cryptocurrencies are still in the development and experimentation phase, which leads to the conclusion that a robust and secure infrastructure must be developed to support a global adoption. The challenge is not that easy imo .

Cryptocurrency is a form of digital money that uses cryptography to secure transactions and control the creation of new units. As a result, it is the first decentralized digital currency, and has been disrupting the global economy (https://btc.gripe/threads/how-cryptocurrency-is-disrupting-the-global-economy.592/) by providing a secure, borderless, and decentralized financial system. Cryptocurrency has enabled people to transact with each other without the need for an intermediary, such as a bank or government. This has opened up new opportunities for global commerce, with individuals and businesses being able to send and receive money without worrying about fees, exchange rates, or government interference. Furthermore, cryptocurrency (https://btc.gripe/threads/how-cryptocurrency-is-disrupting-the-global-economy.592/) has made it possible to store value without relying on traditional banking systems, making it a viable alternative to fiat currencies.

Although cryptocurrencies have gained popularity and have influenced financial technological innovation, so far they have not managed to significantly weaken the global financial system. It is true that some nations have adopted cryptocurrencies for specific purposes such as you mention “the Petro in Venezuela”, but its adoption and effect on the world economy remain limited... Why? Because cryptocurrencies are often considered high-risk and volatile assets by many people. So the widespread adoption of government-issued cryptocurrencies could bring changes to the financial system, but these changes would not necessarily weaken mainstream economies. Instead if weakened, the implementation of digital currencies could improve the efficiency of transactions and regulatory oversight.

I have a thought that we are likely to see a co-existence between government-issued digital currencies, decentralized cryptocurrencies and the traditional financial system in the future. I have been seeing that governments and financial institutions are working to find a balance between technological innovation and the regulation necessary to ensure financial stability...  I hope that happens.

Cryptocurrencies are much helpful for developing countries since they can increase their economic and social status.It all started with  bitcoin,and now so many other cryptocurrencies has been added or existing.This new innovation of cryptocurrencies has renewed the economic standard of countries that uses bitcoin.Just like El Salvador,that country doesn't seem to have a problem adopting or making bitcoin a legal tender.

The Cryptocurrency network is backed by distributed ledger technology,called the blockchain network.It eliminates the risk of fraud and corruption,because of the decentralized financial system as no individual can manipulate it.The crypto-based network is moving towards Progress despite the predictions and critics.

Cryptocurrency is a new and speculative technology so embrace it,upgrade yourself,buy cryptocurrencies, study them, invest in them, trade them.This is 21st century,and technologies like bitcoin has done more good than harm to us.

Cryptocurrencies are playing a huge role in solving the problems of using and exchanging physical money in today's world. As the currency of each country is different and currency management and use are different so if cryptocurrency gets global acceptance then the people of the world will be freed from all these problems of currency exchange. Which will save you from spending any extra money. Although not all countries of the world have accepted the use of cryptocurrency its use is increasing rapidly and shortly cryptocurrency will be the only currency. Because cryptocurrency is very powerful in terms of technology and is very easy to use. So it will play a very important role in the global economy.