Is the only aim of devaluation, to help stimulate a countries economy?

[davis196]

*could the acceptance of cryptocurrency help stimulate a countries economy besides devaluation?

*What other ways can a country stimulate her economy without devaluing its currency?

1.No. Cryptocurrencies are legal(which means that they are accepted) in most countries around the world. Does this stimulate their economies? There was no result whatsoever. I don't think that this had any impact over their economies.

2.Lowering taxes, removing dumb regulations and bureaucracy. Creating a better business environment. Those are the right wing policies.
The left wing policies are mostly about the government investing heavily in infrastructure, education and healthcare.

Devaluing the local currency is "the last resort" of any country's monetary policy(when all the other measures to stimulate the economy don't work).

[Rabata]

No government wants their country's currency to devalue but when they have nothing else to do they force it to devalue. In recent times, the governments of some countries have become so enmeshed with corruption that they do not care about the state of the country's economy. However, the thinking of the governments of developed countries is completely different. Almost everyone knows the situation in Nigeria today where the country's economy has reached an alarmingly bad level due to corruption and other reasons. The government must play a role in the development of the economy of a country. The people of that country must have a positive outlook otherwise it is not possible to expect economic prosperity of that country. Considering cryptocurrency as a medium of exchange, it cannot play a role unless governments take action.

[Casdinyard]

We all know that when a country devalues its currency by making policies in this regard, it could backfire and produce results that may be of an inflationary type, whereby exports are cheaper than imports and local consumers may be left to pay heavy for imported products or patronize locally manufactured products.
Although, many of these policies are enacted, so as to gain a competitive edge in the global market and help clear out backlogs probably accrued from previous government regimes, it is many times a conscious and deliberate decision by the government to reduce the spending or purchasing power of its own currency, and it is sometimes because of neighboring countries doing same just to have an edge in the world market space.

*could the acceptance of cryptocurrency help stimulate a countries economy besides devaluation?

*What other ways can a country stimulate her economy without devaluing its currency?

Let's discuss!

Crypto is reserved from the outside market, there is no way it can "save" a dying economy or a dead economy for that matter. Using cryptocurrency as a means to "revive" a dead export commerce is the same as using a different currency cause your current one's jackshit, and we all know how that worked for the Venezuelan and the Zimbabwean National Currencies, soon as they started to really adopt the Dollar and other currencies for that matter.

Only thing that I can see that could really bring back a dead economy from recession is initiative from playmakers to invest in the country despite the high risk involved. Japan did it and for a while they became one of the richest countries on the planet. The US did it after 9/11 and while it is in shambles it has certainly cemented some form of power play for said country. Other than these playmakers I don't see any other way a country could ever recover from recession, cause one thing about it is that it drops the value of consumables and assets, but it also drops the value of your money so you can't buy shit, and without investors banking on your money to come back from the dead, recovery is impossible.

[Reatim]

*could the acceptance of cryptocurrency help stimulate a countries economy besides devaluation?

Yes there are many ways for a country to recover their economy through cryptocurrencies without devaluation. An example is a country’s citizens being financially stable through the help of cryptocurrencies could potentially increase economic activity.

*What other ways can a country stimulate her economy without devaluing its currency?

A country could focus on exporting more of their goods outside the country

If there’s more exports than imports then we could say that an economy is being stimulated and we could expect more growth as time progresses.

[dezoel]

No government wants their country's currency to devalue but when they have nothing else to do they force it to devalue. In recent times, the governments of some countries have become so enmeshed with corruption that they do not care about the state of the country's economy. However, the thinking of the governments of developed countries is completely different. Almost everyone knows the situation in Nigeria today where the country's economy has reached an alarmingly bad level due to corruption and other reasons. The government must play a role in the development of the economy of a country. The people of that country must have a positive outlook otherwise it is not possible to expect economic prosperity of that country. Considering cryptocurrency as a medium of exchange, it cannot play a role unless governments take action.

No government indeed wants its country's currency to fall or the country's economy to suffer, but it is also a very big fact that when incompetent rulers are in government, they cannot manage the government because of their wrong decisions. Due to this, the country's currency and the country's economy are severely damaged. I am saying this because the situation of our country is not different from it, either because of the competent rulers or because of the wrong decisions made, the currency is going down day by day and the country is suffering from a crisis.

While Bitcoin is developing day by day and its fame has reached all countries, it has also become legal in many countries. In our country, cryptocurrency is also banned and trading is illegal. A country that cannot change itself or bring development following the needs of time and circumstances is a victim of a crisis where everyone is earning money from cryptocurrencies, the problem of unemployment seems to be more than in other countries.

To improve the country's economy, the government should promote online jobs and create opportunities so that people can earn more from online jobs and remove taxes and restrictions on online earnings so that unemployment in the country is reduced. This can end and the country can develop because if the people of a country will develop then obviously that country will develop and if the people of a country will be bound to benefit from all kinds of new inventions then that country can never progress.