Economic effects of bitcoins

[Gohs]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

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[Barnabe]

This could be possible, but if no one has done it until now, there is little chance they manage to do it in a few years. As bitcoin becomes more and more popular, industries will use it too. But if they have to trust bitcoin, they will probably pay a lot of money to review all the code (to see if their investment is safe).

But if someone cracks it anyway, we should expect a rollback.

[jak3]

that is possible and not only with bitfleinex we have seen many incidents like mtgox or other bubbles. if something like that happens which op is saying then i think we will be dommed but not really there are many smart people in bitcoin world who do not put their money without researching

[European Central Bank]

the genius would no longer be a genius because he would instantly make bitcoin worthless. we'd probably undergo the hard fork from hell and turn his theft to dust. after that there wouldn't be any faith left and people would move on to something else.

but the world's not taking bitcoin to its heart until all the vulnerabilities and amateurishness are taken care of. how it is at present ain't acceptable.

[lionheart78]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

It is very possible that a genius may hack majority of bitcoin.  But that act alon will make all his effort in vain in hacking the majority of bitcoin.  Reason is that, bitcoin will automatically fall in price until to the point of being worthles.  Support will be taken away because it shows that bitcoin is a failure.

[pitham1]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

If the whole world adopts it, the distribution would be much wider than what we have.
It is unlikely that any one point of failure would result in such large amounts of bitcoin getting stolen.

[The Sceptical Chymist]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

It is very possible that a genius may hack majority of bitcoin.  But that act alon will make all his effort in vain in hacking the majority of bitcoin.  Reason is that, bitcoin will automatically fall in price until to the point of being worthles.  Support will be taken away because it shows that bitcoin is a failure.

Yes but you know there are hackers that would do it anyway.   And not only that, there are probably hackers who would send the coins to a burn address just for the sheer pleasure of destroying something of such value.

[Samadur]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

It is very possible that a genius may hack majority of bitcoin.  But that act alon will make all his effort in vain in hacking the majority of bitcoin.  Reason is that, bitcoin will automatically fall in price until to the point of being worthles.  Support will be taken away because it shows that bitcoin is a failure.

Yes but you know there are hackers that would do it anyway.   And not only that, there are probably hackers who would send the coins to a burn address just for the sheer pleasure of destroying something of such value.

Unfortunately big minus in Bitcoin - is security. No one can know what will happen tomorrow with his wallet. Everyone knows that risk

[raja2sumi]

Yahh that could be possible .but i think by that time when the 20 million bitcoins have been mined then the security would increase a lot and our government would give a tight security to make not that happen.

[Wind_FURY]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

This is maybe the dumbest question ever to be asked in this forum, or one of the dumbest. But to answer your question it will all go down. By all I mean all of the Bitcoin based industries that were created around and on top of it. That hacker would have been richer if he stole fiat and invested them in Bitcoins.

[rahmat92]

Impact or effects of bitcoin on the economy I think it is good because the value of the virtual currency does not affect the exchange rate of ordinary currency so that more and more people who have bitcoin will be better in a country's economy

[Icculus.]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

Bitcoin would become worthless. Bitcoin is nothing without demand...just like every other currency. There's nothing tangible about it. It only has value if a community of people agrees that it does, it's thoroughly based on trust.

The world would decide on some other currency to use to conduct business - likely one of the other 100+ alt coins in existence!

What's worse is during a time of calamity. Say there's a major world war, internet goes down, power outages, something significant...it would have a huge impact on access to the blockchain, miners, prices, demand.

[zulkarnaen]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

Bitcoin would become worthless. Bitcoin is nothing without demand...just like every other currency. There's nothing tangible about it. It only has value if a community of people agrees that it does, it's thoroughly based on trust.

The world would decide on some other currency to use to conduct business - likely one of the other 100+ alt coins in existence!

What's worse is during a time of calamity. Say there's a major world war, internet goes down, power outages, something significant...it would have a huge impact on access to the blockchain, miners, prices, demand.

I have the same opinion with you, although existence of bitcoin certainly has a good contribution to economy of a country, but of course many factors are always a consideration for each country to accept bitcoin and recognize its legality, including transaction that always uses internet connection as well Transaction costs Also a constraint even today transaction process becomes an obstacle for users to perform transaction activities that seem slow.

[andrei56]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

A genius will not be able to do this, it will need be someone with access to technology we do not know yet, so either the governments will be behind this or aliens, governments could try to do this but aliens have better things to do than to worry about that.

[uneng]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

A genius will not be able to do this, it will need be someone with access to technology we do not know yet, so either the governments will be behind this or aliens, governments could try to do this but aliens have better things to do than to worry about that.

That is the point, a technology we don't know yet, because with the technology there is in the world today it's impossible to steal all the bitcoins. Who could do it isn't a genius, just someone very evil, because he would kill the bitcoin market.
It would be the end of bitcoin, the price would decrease, killing the currency instantly. Not good for the genius and not good for anyone.

[Amph]

first of all not all the 20 million coins are on exchange, also they are not on a single exchange anyway, so what you are talking about it's an impossible scenario

this ginius at best can stole 20k-100k like happened on some exchange in the past, and the price hardly crashed back then

[Fappanu]

Yahh that could be possible .but i think by that time when the 20 million bitcoins have been mined then the security would increase a lot and our government would give a tight security to make not that happen.

Well i wish our government will be forever hands off in bitcoin 'coz if they'll do or they will have a interest in bitcoin community they will manipulate us. Too many greedy and corrupt officials 
But bitcoin for sure will not be hack by others because of its unique features and also the block chain. It's not beknownst to us.

[Hydrogen]

It is possible for someone to crack the private keys to all 20 million bitcoins.

The nature of cryptography doesn't make this impossible.

It only makes it unfeasible in terms of time consumption.

You can crack all 20 million coins, but it will take you 10,000+ years to do it.

[equator]

What ever OP wanted to do for hacking but one thing he is forgetting is that out of 20 million coins some more then 10% of the coins are in dead wallet which are lost the keys by their owner so they are dead and balance are in split so what ever illusion he wants he can make it.

[Yuhee]

What ever OP wanted to do for hacking but one thing he is forgetting is that out of 20 million coins some more then 10% of the coins are in dead wallet which are lost the keys by their owner so they are dead and balance are in split so what ever illusion he wants he can make it.

I think the issue is not the dead wallets but those blocks that are still in the net. The cryptogram that was used in btc has a millions of combinations of numbers so i doubt if anyone could hack that. This is the new era and if there was hacker with that kind of knowledge then this should blocks should be hacked by now. I mean 6 years have passed and still no hacking on the blocks has had happened. So for me, it is too far in the future could the blocks be hacked.

[omonuyak]

If the whole world adopt bitcoin as a means of payment and storing of values. Op you should not be afraid of some stolen 20millions dollars worth of bitcoin as that could not affect price by then. If you follow the history of criminality in all over the world did not affect price, because of the fund is still in circulation.

[ktabb]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

They would instantly lose 100% of their value and people would start using something else. Nobody would trust Bitcoin anymore if that happened. Crypto itself would probably suffer irreparable harm and it would take decades before anyone trusted any crypto again.

[DRaGoN RaNTaRo]

what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

Since this is a hypothetical question the answer is simple,bitfinex is an exchange and the hacker was able to get control of the private keys and so they could steal the coins away,the so called 20 millions wont be sitting at a single wallet and so it is not possible.

[matuson]

If the whole world adopt bitcoin as a means of payment and storing of values. Op you should not be afraid of some stolen 20millions dollars worth of bitcoin as that could not affect price by then. If you follow the history of criminality in all over the world did not affect price, because of the fund is still in circulation.

The world does not recognize bitcoin. Americans will never admit that the dollar has lost its investment attractiveness. While bitcoin is not at war with the dollar we can safely invest in it, but as soon as the Americans feel the danger, the fate of bitcoin will be in question.

[deisik]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

That's unlikely though not completely impossible

But you should first ask yourself whether Bitcoin is actually going to become the only currency used by the whole world. That's highly unlikely on its own. Even if we hypothetically assume that ("just for fun"), it would be more about cracking Bitcoin cryptography rather than stealing bitcoins like it happened at Bitfinex. This is certainly possible but the question itself is like what would happen if someone found a "kill switch" of sorts to power off the whole Earth. Obviously, people would quickly switch to direct barter (start using candles)

[louisedem]

Since bitcoin is not yet popularized worldwide through commercials and advertisements I think it small percentage of helping economy will be considered, because it has no tax, no registration fees and so on , and the only thing that I know is, it adds foreign currency because for you to get the expected amount kf your money you always need to convert it, they will transfer the money by different currency conforms in the place you were living.

[bitbunnny]

Bitcoin can't have the significan impact on economy anywhere in the world. For that it should officialy become part of financial and economic system and fully recgonized and regulated. This is not very likely at current stage and generaly it would cause consequences for which system is not ready yet. At the moment the.influence can't also be measurable.

[skorupi17]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

This scenario is very impossible. There are many people who are having Bitcoin now. They keep it in an exchange, an online wallet, a cold wallet. or any other type of wallets. Since there is only 21 million Bitcoin will exist in this world, let us say that the 20M you say is all of the Bitcoins out there excluding the forever lost Bitcoins. So if the 20M BTC will be stolen by a "genius" then he must hack all types of wallet and grab all of the coins. This is very impossible to accomplish unless all of them will be in a single wallet (which is impossible also to happen).

[Reid]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

Then that wont be valuable anymore.
Imagine one human being having 20 million pieces of the Monalisa.
Are you still going to buy that?
It was similar with bitcoin. The more people who wants it the more price it gets and be expensive.
Without that demand then one item will have lesser value.
It must be something that people are thriving to get even just a piece of it.

[Quadast]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

Then that wont be valuable anymore.
Imagine one human being having 20 million pieces of the Monalisa.
Are you still going to buy that?
It was similar with bitcoin. The more people who wants it the more price it gets and be expensive.
Without that demand then one item will have lesser value.
It must be something that people are thriving to get even just a piece of it.

Then you to protect yourself, just you drive your coins to other purses. You do not need to use the exchanger wallets for a long time. Even the exchange must have your coins at a minimum. And even more so today before August 1, you need to protect yourself even more.

[iyan33]

Bitcoin has been able to improve economy of its users in various countries, currently there are many people who use bitcoin as their expected source of income, a big change in the economy of bitcoin users can be felt after rapid increase of bitcoin prices.

[Kill Joy]

Could theoretically be possible, but will it happen? Definitely not.

[xuan87]

Let's say if all of the people in this world already using Bitcoin and 20m Bitcoin got stolen then the price will fall down a lot, the price is based on the supply and demand by holding 20m maybe is going to caused the price going up, but there won't be any transactions volume and it can caused the price to fall down quickly

[rhodelmabanal]

This could be possible, but if no one has done it until now, there is little chance they manage to do it in a few years. As bitcoin becomes more and more popular, industries will use it too. But if they have to trust bitcoin, they will probably pay a lot of money to review all the code (to see if their investment is safe).

But if someone cracks it anyway, we should expect a rollback.

Bitcoin for me hits the big impact on the social economy today the best is that was the way to secure and has less chance to lose money. We could use it to online transactions.

[Zemangat]

It will probably happen. Someone steals a lot of bitcoin. Because it is bitcoin is digital. People will invest bitcoin if everyone knows bitcoin and what are the benefits of bitcoin. I think they will invest all their money to bitcoin. It's just that they need the internet to do it

[syaripudin]

At the moment I can only say the economic impact that has occurred to me. And I feel that bitcoin can help my economy. Because by following bitcoin I can get additional income. But I am not talking for the global level. It's just the impact I feel. When we talk to the global level about bitcoin will certainly be different. This needs to be highly technical directed. Because when everyone uses bitcoin what impact will be felt. I think that's not necessarily good either. So i say this needs good technical. So that no party can take advantage of the profits through an incorrect path

[darthmaul]

If more and more industries start to adopt the bitcoin then remember the heavy investment will also upgrade bitcoin in terms of security. The code is simple and can be cracked by smart IT guy. But the question is why would he do that? Don't you question that he will loose the assets too when bitcoin collapses in its own faulty technology and making that IT guy worthless too. No one will try to crack the bitcoin code in first place, because if anyone will do that then the system will shut completely and bitcoin would result in zero value. However, bitcoin is continually upgraded in terms of tech stuff and I'm sure devs are taking care of security part as well.

[webtricks]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

If whole world adopts Bitcoin then portion of its total supply will lie in 7 Billions different wallets averaging 0.003 BTC in each wallet. A person can be genius enough to hack one site and database but not 7 billion different accounts on different wallets.

Let's say if all of the people in this world already using Bitcoin and 20m Bitcoin got stolen then the price will fall down a lot, the price is based on the supply and demand by holding 20m maybe is going to caused the price going up, but there won't be any transactions volume and it can caused the price to fall down quickly

Don't talk rubbish. If 95.2% of total Bitcoins get scammed, who in the hell would care about price and holding.
Rather if that scammer tries to sell on any exchange, he could easily get caught. Its not 1000-2000 Bitcoins but 20m Bitcoins when whole world using it.

[beerlover]

This could be possible, but if no one has done it until now, there is little chance they manage to do it in a few years. As bitcoin becomes more and more popular, industries will use it too. But if they have to trust bitcoin, they will probably pay a lot of money to review all the code (to see if their investment is safe).

But if someone cracks it anyway, we should expect a rollback.

Bitcoin for me hits the big impact on the social economy today the best is that was the way to secure and has less chance to lose money. We could use it to online transactions.

I think you want to say that it is good to invest in bitcoin which have a lesser chance to lose money and can be easily used in online based payment transaction.
I guess before coming to bitcoin currency investment you should make it sure that it is secure investment until you are in long term. In short term it can be much risky than anything because you never know when the price can drop up to 300 dollars in a day.

[qwertyup23]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

It is very possible that a genius may hack majority of bitcoin.  But that act alon will make all his effort in vain in hacking the majority of bitcoin.  Reason is that, bitcoin will automatically fall in price until to the point of being worthles.  Support will be taken away because it shows that bitcoin is a failure.

If the whole world adapts and accepts bitcoin as a payment, government intervention would inevitable. This means that security and regularity will be more guarded and secured and potential threats like these would always be taken into consideration. Also if that where to happen, I can see that the price of bitcoins will drop due to its nature being hackable. The only threat that I see today is the high volatility of the price but that is to be expected.

[keeee]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

 Its nice to know that virtual currency  does not affect the exchange rate of the physical currency. In addition it is not ruled by government like banks. Everything is possible to happen sir but we can also many intellegent users in this world of bitcoin who do not ever put their money in this crypto without knowing everything about it.

[MaskMars1]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

 Its nice to know that virtual currency  does not affect the exchange rate of the physical currency. In addition it is not ruled by government like banks. Everything is possible to happen sir but we can also many intellegent users in this world of bitcoin who do not ever put their money in this crypto without knowing everything about it.

We still really can not understand what will happen after the first of August and thus this hype for influenced the price of the whole country. Although I do not understand why Bitcoin did not reach this date, it starts to rise again. Has the panic already passed?

[Michhotdog]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

 Its nice to know that virtual currency  does not affect the exchange rate of the physical currency. In addition it is not ruled by government like banks. Everything is possible to happen sir but we can also many intellegent users in this world of bitcoin who do not ever put their money in this crypto without knowing everything about it.

We still really can not understand what will happen after the first of August and thus this hype for influenced the price of the whole country. Although I do not understand why Bitcoin did not reach this date, it starts to rise again. Has the panic already passed?

In order to assess the current situation on trade exchanges or, in general, in the world of crypto-currencies, you need to make your own forecasts about your own observations. The fact is that many experts are misleading with their forecasts and conclusions.

[ghostunicorn]

Here are some I found:

-The tax collected by governments decreased a bit. (It's not taxable)
-More people had uncontrolled money which is a problem for crimes and money laundering.
-Economically unlawful attempts rised dramatically.

[eaLiTy]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

The first reason that is not possible is because these bitcoin are spread across the world and not in a single platform like bitfinex and no one in the right mind will store their coins in exchanges or web wallets and if you know the basic on how to protect your system then no genius or crooks can hack these coins from anyone and if you cant do that,hope you have heard about offline and paper wallets.

[Omega Weapon]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

You are a full member and you don’t even know that even if there are going to be only 21 million coins that not all of those coins have been mined yet, if I remember correctly I think we are in 16.5 million at the moment, so no one can steal 20 million coins because there are not that many coins yet, second not all the coins are in the same wallet, the coins are distributed so someone will need to find a way to break the cryptography in which bitcoin is based and if someone could do that then all the bank accounts of the world would be at stake as well.

[CarnagexD]

This could be possible, but if no one has done it until now, there is little chance they manage to do it in a few years. As bitcoin becomes more and more popular, industries will use it too. But if they have to trust bitcoin, they will probably pay a lot of money to review all the code (to see if their investment is safe).

But if someone cracks it anyway, we should expect a rollback.

It is possible due to the fact that bitcoin is aligned through technology. And when technology is the point or subject is more vulnerable on development. And as long peole support the system of bitcoin further development and improvement will take place to bitcoin. And it can help economical problems because it is a form of currency that has value that may help leads to an upgrade and progress for the economical rate of ones country.

[Yakamoto]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

If they steal 20M Bitcoins then you're looking at basically all accessible Bitcoins being stolen, meaning that there will be next to no demand if all of that gets stolen and their Bitcoins will be worth a lot less than they would be should the market have been moving normally. That's assuming that people would even buy them again if they were stolen and they simply wouldn't use a copy of the blockchain from just before the theft and fork back to that.

[appon12]

Bitcoin is not likely  to be a economic disaster, if hacker's do not hurm.

[rivoke]

Bitcoin supply are limited and the demand will high , ofcourse bitcoin has value over $ 5000 / btc
It's really great for early investor who had bitcoin but in order to get legalize for all world, it still need some time

[craZyLovE0916]

When the market cap reaches $21,000,000,000,000 (that means $1,000,000 per Bitcoin) the effects will be HUGE. For example, gold only has a market cap of $7,000,000,000 which emans Bitcoin will be 3 times more valuable than gold worldwide.

[sampalokmix]

Impact or effects of bitcoin on the economy I think it is good because the value of the virtual currency does not affect the exchange rate of ordinary currency so that more and more people who have bitcoin will be better in a country's economy

Yes it is, and additional money can be count and can be conteibute in country's economic status .i think it may help a lot if government will acquire taxes a little amount will do I think, and honestly putting it in to its right place can imprive public services as well as the establishments.

[faceoff97]

It is impossible to steal the 20M bitcoin because there were less than 17M bitcoin at the moment. Then, if someone is really pushing to steal it he is probably going through a hard time hacking the multiple wallet where coins are evenly distributed. Bitcoin is so establish that anyone can really put their security and assurance with this crypto. Bitfinex was based on a single platform which makef it easily stolen by the theif, while bitcoin has spread in different country and there is really no one who haa full control over it.

[Gozie51]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

It is very possible that a genius may hack majority of bitcoin.  But that act alon will make all his effort in vain in hacking the majority of bitcoin.  Reason is that, bitcoin will automatically fall in price until to the point of being worthles.  Support will be taken away because it shows that bitcoin is a failure.

Nice analysis. Off course, when there is nothing to chase again about bitcoin, it will drastically depreciate and worthless. Meaning, it won't be useful to the hacker. The hacker might probably unveil his veil because of frustration.

[munareal]

Bitcoin is uses a decentralized system of distribution where different computers update the ledger and the hash functions .Blockchain are hacked proof because there are millions of blockchain users which makes it difficult to to corrupt. Each block chain links to the previous. A hacker cannot not steal all of the 20M coins of Bitcoin. Remember they are in different addresses and needs different level of block authorisation before acceptance.

[giletto]

Then the price of bitcoin will become worthless. People will decrease the price of bitcoin so that the stealer will have no chance to spend that amount of bitcoin. However, bitcoin was developed by the genius Satoshi nakamoto so that I believe that there is no person can steal all bitcoin in the world we do not need to worry aboout that issue

[Virtual miner]

Bitcoin is uses a decentralized system of distribution where different computers update the ledger and the hash functions .Blockchain are hacked proof because there are millions of blockchain users which makes it difficult to to corrupt. Each block chain links to the previous. A hacker cannot not steal all of the 20M coins of Bitcoin. Remember they are in different addresses and needs different level of block authorisation before acceptance.

Moreover I think there is always a person step ahead of you. If there is someone who can steal all the 21 million their surely might be one who could protect these 21 millions.

[deisik]

Then the price of bitcoin will become worthless. People will decrease the price of bitcoin so that the stealer will have no chance to spend that amount of bitcoin. However, bitcoin was developed by the genius Satoshi nakamoto so that I believe that there is no person can steal all bitcoin in the world we do not need to worry aboout that issue

Folks will just start using some other coin

Basically, the same will happen if someone grabs all the gold in the world, and everyone and his grandma quickly forget how gold looks and what it is valued for. Indeed, gold looks nice on its own, and its charm is kinda built in all of us (to a certain degree, at least), but if no one hears about gold any more for a few generations, it will likely lose all its appeal, and then the owner of all this gold will have hard time liquidating his heavy hoard of this shiny metal

[malikusama]

It will not going to effect the economy of a state or world because the bitter truth is world economy is not dependent or based on bitcoin. If this could happen then there will be sudden drop in the price of bitcoin and it may crash too because all the community will reject it and the hacker will left behind with worthless bitcoins. The bitcoin community is not dumb that someone can easily stole bitcoins and cash it where ever he/she want.

[Apes]

cant happen somebody stealing 20M bitcoin as clever as the person to steal 20M bitcoin .. satoshi nakamoto who created bitcoin just had said he would not be able to manipulate the mining numbers ...

[Bitcoincole]

cant happen somebody stealing 20M bitcoin as clever as the person to steal 20M bitcoin .. satoshi nakamoto who created bitcoin just had said he would not be able to manipulate the mining numbers ...

Well, bitcoin has a big effect to the economy of my country because the earned that came from bitcoin is directly added to the collection of money of the government. Were they benefited  taxable item that was purchase by the pro earner like me.

[benjamin11]

Bitcoin is very popular now, and a lot of people are now engaging themselves into it. Sooner or later businesses and other economic platforms will use it whether in payment, transaction, or investment. For me it will be a great progress. But also, since bitcoin is virtual, there's always a possibility of hacking. But if the industry will use it, I'm sure they will develop a strong security so it will not be vulnerable to hackers.

[Lancusters]

cant happen somebody stealing 20M bitcoin as clever as the person to steal 20M bitcoin .. satoshi nakamoto who created bitcoin just had said he would not be able to manipulate the mining numbers ...

Gold will always attract people. This is a rare metal and a lot of people want to differ from others. They will wear your gold jewelry for. The material shape distinguishes this metal from bitcoin. How can you steal bitcoins 20m if they will be released the 21st? It is unreal. If you want you can find any coin. I think to ever be created by the developers of cyber police who will make stealing coins is impossible.

[konco_kenthel]

I myself may only be able to give the best prayer for the future of bitcoin Because of the prospects today have shown that bitcoin is able to provide great opportunities for investors in obtaining huge profits.But if a problem arises like automatic theft will give a bit of a challenge for him to continue running the business every time.To be more careful every act.

[Carmen01]

Bitcoin give us extra income here so in economics they give our country to become rich its also good for transaction and to save our moneh here in hard wallet i think bitcoin is need by any person in any country because this give us much conveniece for our good work here and to have many ideas to earn

[peterthegreat]

The economic effect of bitcoins on the world is one that has to do with power. The power around the world is extremely centralized right now. Bitcoin is decentralized and therefore the more people that turn their FIAT money into BTC, the more power we can take away from the ones that control our money right now. It shouldn't be a group of people controlling money it should be all of us.

[Lieldoryn]

The economic effect of bitcoins on the world is one that has to do with power. The power around the world is extremely centralized right now. Bitcoin is decentralized and therefore the more people that turn their FIAT money into BTC, the more power we can take away from the ones that control our money right now. It shouldn't be a group of people controlling money it should be all of us.

Unfortunately, this is impossible. In the bitcoin community there are a lot of different people. Everyone has their own interests. They cannot be combined by one goal. All are only interested in income. A specific example is a fork of the bitcoin in November. What prevented the miners and developers to negotiate? No, each pursues its own interests, and nobody cares what will happen to bitcoin.

[LennyKo]

I totally agree with Lieldoryn. This is a sad but true fact - the decentralized nature of bitcoin still allows for richer users to influence more. The wealthy ones buy out more bitcoins and have more voting power. So nothing hinders big players and corporations to establish their rules. Something has to change, it will change, but for now that's the sad truth.

[Bagaji]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

I don't think such a thing will happen since the 20 millions Bitcoin are not in the same wallet or exchange. But I believe it will be possible when you talk about thousands of Bitcoin and not as you rightly mentioned 20m above.  And if it eventually happen, they themself will loss a lot too because it cost them to hack and Bitcoin value will decline.

[sindikat]

The economic consequences of bitcoin can be enormous but we see that people can convert bitcoin into a bubble. Decentralization does not exclude joint action. There is a discussion of the miners and developers, but no one is interested in the views of users. Instead of creating conditions for the use of bitcoin as a currency it was turned into a stock exchange asset inflated by speculative capital.

[sofi@]

I don't think even a genius can hacked all bitcoin in the market because doing so will require him to get into the system of almost hundreds of wallet used world wide that's good thing about bitcoin although it can only be access thru internet still it is placed in different online wallets which I think is a good control. Witg regards to economic factor just in case bitcoin will be the main currency I think this will help the economy since no more taxes will be imposed and it will also allows transactions outside the countries

[batang_bitcoin]

It is not 100% mined yet as the total number of bitcoin's supply are 16 Million and there's more to come per halving. I don't someone genius will be able to stolen majority of the bitcoins that people are holding or that's circulating in the market. Even the burned bitcoins will not be recovered as all of them are lost forever, a very impossible thing with an open mind.

[Happy Miner]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

If they steal, the money will not disappear without a trace. Someone will spend it and in the end everything will return to the beginning.

[bitcad4u]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

If they steal, the money will not disappear without a trace. Someone will spend it and in the end everything will return to the beginning.

Bitcoin is a digital currency system and it is good to know that all online transaction process of moving are controled, from one of the best currency and it's fully support by internet so economic are not affect to Bitcoin system.

[betMaster]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

You can't underestimate bitcoin's security or how hard and complex it is to override the smart contracts that define bitcoin itself , it's transactions and it's uses . So unless that person doesn't have access to at least 51% of bitcoin's overall value , he really can't change anything or hack anything in it . And the problem isn't really if some guy hacks into it , the 1st step to the whole thing is the world accepting it and recognizing bitcoin as a official payment method which isn't likely to happen in my opinion (at least for the following 10 years ) , since there's a lot to correct and make stable in bitcoin's features especially the fluctuation . Only then governments and markets will fully accept bitcoin , and this is for holders the ultimate dream .

[khaled0111]

No one can steal all bitcoins if such thing is possible it would be done in the past. Such thing will never happen and if someone find a way to do something like that i think he will be intelligent enough to know that stealing all bitcoins is not a good thing because they will have no value: who will buy something that can be stolen at any time?B Bitcoin is based on trust, more trust means more value.

[patt0]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

I don't really think that would be possible at all. The only possibility for it to happen, is if someone or a group of people manage to find some king of exploit in the bitcoin code, or on the blockchain, and with so many eyes on it I really think its impossible for that to happen. Anyway, if it did happen I don't think he would be able to do anything with it. At the exact moment some exploit is found bitcoin would lose it's value, so that brilliant mind would have gotten his hands on a useless coin.

[peterthegreat]

The economic effect of Bitcoin will be one of decentralization. Everything is centralized nowadays when it comes to systems that the current economy uses to transact in. Commerce is controlled right now, but Bitcoin is borderless and has no owners so this gives people the power as the current financial system is doomed and everyone is moving into crypto where BTC reigns supreme.

[megynacuna]

The economic effect of Bitcoin will be one of decentralization. Everything is centralized nowadays when it comes to systems that the current economy uses to transact in. Commerce is controlled right now, but Bitcoin is borderless and has no owners so this gives people the power as the current financial system is doomed and everyone is moving into crypto where BTC reigns supreme.

Exactly, decentralization is one major economic effect that bitcoin users can adopt in their respective lives because that has gotten the governments and the central banks hooked because they can't control and regulate how money inflows should be which has always favoured them against the citizenry.

[shesheboy]

No one can steal all bitcoins if such thing is possible it would be done in the past. Such thing will never happen and if someone find a way to do something like that i think he will be intelligent enough to know that stealing all bitcoins is not a good thing because they will have no value: who will buy something that can be stolen at any time?B Bitcoin is based on trust, more trust means more value.

i dont think so, bitcoin is digital currency therefore it is online so it is still prone to attacks by hackers and viruses if you are careless about using it. ive seen many reports that their bitcoins had been steal to thier actuall wallet because of phising , so i guess it can also happen to you and all of us who uses bitcoin. stealling bitcoins is a good thing for them because they can sell them to earn a profit effortlessly.

[Razick]

The economic effect of Bitcoin will be one of decentralization. Everything is centralized nowadays when it comes to systems that the current economy uses to transact in. Commerce is controlled right now, but Bitcoin is borderless and has no owners so this gives people the power as the current financial system is doomed and everyone is moving into crypto where BTC reigns supreme.

Exactly, decentralization is one major economic effect that bitcoin users can adopt in their respective lives because that has gotten the governments and the central banks hooked because they can't control and regulate how money inflows should be which has always favoured them against the citizenry.

Do you think Bitcoin will always stay decentralized? There are plenty of things that were decentralized in history and became centralized out of almost sheer necessity. Anyway, some banks are getting into crypto and blockchain technology at this very moment, including mine.

[Agostosmori]

This could be possible, but if no one has done it until now, there is little chance they manage to do it in a few years. As bitcoin becomes more and more popular, industries will use it too. But if they have to trust bitcoin, they will probably pay a lot of money to review all the code (to see if their investment is safe).

But if someone cracks it anyway, we should expect a rollback.

Rollback will certainly be out out of the question, as BTC value are based on the demand of the folks that use it, but if something like this happened BTC will certainly crash because no one would trust the technology anymore, thus the hacker/s will not gain anything of value than piss a lot of people.

[Seansky]

Exactly, decentralization is one major economic effect that bitcoin users can adopt in their respective lives because that has gotten the governments and the central banks hooked because they can't control and regulate how money inflows should be which has always favoured them against the citizenry.

Because of decentralization, some governments want to not legalize bitcoin which is hindering cryptos from aiding in economical state of a country but it is also the factor that will cause a devastating effect for the common good. By using bitcoin and cryptocurrencies, citizens who don't bring physical money as well as merchants doesn't need middlemen(which is commonly credit card) in order to get in a successful transaction.

[Razick]

Exactly, decentralization is one major economic effect that bitcoin users can adopt in their respective lives because that has gotten the governments and the central banks hooked because they can't control and regulate how money inflows should be which has always favoured them against the citizenry.

Because of decentralization, some governments want to not legalize bitcoin which is hindering cryptos from aiding in economical state of a country but it is also the factor that will cause a devastating effect for the common good. By using bitcoin and cryptocurrencies, citizens who don't bring physical money as well as merchants doesn't need middlemen(which is commonly credit card) in order to get in a successful transaction.

Governments also need a way to track and trace spending, which cryptocurrency makes impossible to do. Bitcoin itself is only pseudo-anonymous - good enough right now as resources are not available to track everyone, but in the future only currencies such as Monero will be guaranteed safe from such tracking.

[shalnark]

Exactly, decentralization is one major economic effect that bitcoin users can adopt in their respective lives because that has gotten the governments and the central banks hooked because they can't control and regulate how money inflows should be which has always favoured them against the citizenry.

Because of decentralization, some governments want to not legalize bitcoin which is hindering cryptos from aiding in economical state of a country but it is also the factor that will cause a devastating effect for the common good. By using bitcoin and cryptocurrencies, citizens who don't bring physical money as well as merchants doesn't need middlemen(which is commonly credit card) in order to get in a successful transaction.

I agree decentralization of bitcoin has good enough reason to failed tracking the bitcoin in our community by the government. For now bitcoin have good effect to our economy because thru help of this program more jobless people were found a work. Status of some average peoples are incredibly increasing because of crypto currency.

[tbterryboy]

Bitcoin give us extra income here so in economics they give our country to become rich its also good for transaction and to save our moneh here in hard wallet i think bitcoin is need by any person in any country because this give us much conveniece for our good work here and to have many ideas to earn

For sure there is an impact and a hard influence for bitcoin on the economy of a country. When one community is assessed, the individuals living in there are responsible for the least results of that community. So as when you talk about bitcoin, it has given so much chances to everyone to work and earn. Like, for all idles there are jobs if they want to do. So it have impact.

[sinta23]

Exactly, decentralization is one major economic effect that bitcoin users can adopt in their respective lives because that has gotten the governments and the central banks hooked because they can't control and regulate how money inflows should be which has always favoured them against the citizenry.

Because of decentralization, some governments want to not legalize bitcoin which is hindering cryptos from aiding in economical state of a country but it is also the factor that will cause a devastating effect for the common good. By using bitcoin and cryptocurrencies, citizens who don't bring physical money as well as merchants doesn't need middlemen(which is commonly credit card) in order to get in a successful transaction.

I agree decentralization of bitcoin has good enough reason to failed tracking the bitcoin in our community by the government. For now bitcoin have good effect to our economy because thru help of this program more jobless people were found a work. Status of some average peoples are incredibly increasing because of crypto currency.

the effects of the bitcoin of the economy today are still good, but we also do not know in the future how the development of bitcoin. because the government has also been in action to track bitcoin users as well, maybe when it is traced, then the government will not legalize bitcoin or otherwise we never know.

[mifanmuzny]

Economy is blooming with bitcoins implemented for the infrastructure system

[fianaindriati]

Bitcoin give us extra income here so in economics they give our country to become rich its also good for transaction and to save our moneh here in hard wallet i think bitcoin is need by any person in any country because this give us much conveniece for our good work here and to have many ideas to earn

For sure there is an impact and a hard influence for bitcoin on the economy of a country. When one community is assessed, the individuals living in there are responsible for the least results of that community. So as when you talk about bitcoin, it has given so much chances to everyone to work and earn. Like, for all idles there are jobs if they want to do. So it have impact.

as far as I know every thing we do must have risks or impact. because in doing something that makes us successful it must be a hitch, so we tested like that we also have to be strong in living it.
such as bitcoin that has been running but still there are continuing problems faced.

[carlisle1]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

then what would be problem?that stolen bitcoin will remain in circulation..its a problem of that site theyre bitcoin has stolen.but the community will continue living and growing.youre the one who mentioned that bitcoin is internet.so it will remain in internet,just like a bank being robbered.only the bank and partly depositors will be affected,but not all the banks and specially not all the people

[Ronaldcoin2017]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

then what would be problem?that stolen bitcoin will remain in circulation..its a problem of that site theyre bitcoin has stolen.but the community will continue living and growing.youre the one who mentioned that bitcoin is internet.so it will remain in internet,just like a bank being robbered.only the bank and partly depositors will be affected,but not all the banks and specially not all the people

Well i agree on that i believe that bitcoin is no negative effect to the economy and maybe it well only affect to the bank .I beleive that bitcoin can really make a huge income and it is really helpful to the people that need an extra income and i believe because of that simple way of gaining money the economy will get rise up high no doubtbon it .

[el kaka22]

The economic effect of Bitcoin will be one of decentralization. Everything is centralized nowadays when it comes to systems that the current economy uses to transact in. Commerce is controlled right now, but Bitcoin is borderless and has no owners so this gives people the power as the current financial system is doomed and everyone is moving into crypto where BTC reigns supreme.

Exactly, decentralization is one major economic effect that bitcoin users can adopt in their respective lives because that has gotten the governments and the central banks hooked because they can't control and regulate how money inflows should be which has always favoured them against the citizenry.

Do you think Bitcoin will always stay decentralized? There are plenty of things that were decentralized in history and became centralized out of almost sheer necessity. Anyway, some banks are getting into crypto and blockchain technology at this very moment, including mine.

This is one reason why there would always be a fork in situations like this, so bitcoin staying decentralized or not is not even an issue to debate, cause I believe it will and even if there is a necessity for that, most users and some devs will not agree which would obviously lead to chain split and then we end up seeing which eventually wins.

It is not like we do not have centralized cryptocurrency for now; after all, XRP and USDT are some good examples. So, worst that would happen is the government of any country creating their own centralized cryptocurrency.

[LyQaN]

whole world accepting bitcoin is great for cryptocurrencies, but as you say all of them are mined and stolen by one person,then ultimately bitcoin is going to get crash,because no one will be there to exchange it or buy it or sell it ,simply because a news like its being stolen and is not secured will spread and no one will be ready to buy it ,and even no one gonna accept it too,so having so much coins also will left the genious with nothing

[KaliLinux]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

It impossible to stole 20M bitcoins. If so he will not be a genius may be a man to destroy its value.
The effects on the economy is totally depends on the specific government that legalize bitcoin which will leads to new adoptions across the new peoples to bitcoin.
I dont think so the government will ecourage this anymore as long as the Banks gets impacted.

Who knows That genius may be in this thread to get a better idea. LOL

[waynechong1995]

What's your context about stealing? do you mean the genius in mined away all the coins ? I think it wouldn't be possible technically as the blockchain network is built upon blocks and hacking would requires some super-alien computer power to resolve the everything. Btw it's stupid and what's the point to own the entire supply as nobody could buy or sell anymore, the biggest threat is of course somebody that have access into exchange's owner wallets and transacted all of them to their address, if that's so nobody can recover and it's just a total lost.

[Ctn]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

Nothing that genius will be caught in seconds of matter because bitcoin still stays on the internet and he can be tracked down from the addresses that he use. I mean the whole world will watch the transaction being transferred from the hacked server to one wallet or whatever he might be using at the time of hack.


Thats the first thing where he will be getting billions of eye witnesses, (LOLZ) and then where he will put that much of money? Probably he might start transferring the money to fiat and send the money to bank? So there we are we can watch that wallet and track down the person with KYC docs that he provided to the wallet.


IF the wallet is anonymous then we can track down the bank and obviously bank will cease the money as whole world watch the money flow into them. Done your hacker is hacks now!


Not that easy pal!

[kodtycoon]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

The economic effect of bitcoin is very good, because unconsciously bitcoin can improve the economy of a country. It shows that bitcoin has a positive impact on the economy. As long as we are still in the internet world, then the hack will always exist. You need to anticipate it before it happens to you.

[h4yfans]

Bitcoin supply is limited and therefore the price will go higher.

[aencarnaci]

Economy is blooming with bitcoins implemented for the infrastructure system

Bitcoin has undoubtedly very positive effects on the economy of a country. There are many developed countries whose economy is getting better just because their people are highly involved with bitcoin. Bitcoin has also played significant role in changing the lifestyles of people in a better way and the prosperity of citizens is ultimately the prosperity of the country.

[wuvdoll]

This could be possible, but if no one has done it until now, there is little chance they manage to do it in a few years. As bitcoin becomes more and more popular, industries will use it too. But if they have to trust bitcoin, they will probably pay a lot of money to review all the code (to see if their investment is safe).

But if someone cracks it anyway, we should expect a rollback.

Rollback will certainly be out out of the question, as BTC value are based on the demand of the folks that use it, but if something like this happened BTC will certainly crash because no one would trust the technology anymore, thus the hacker/s will not gain anything of value than piss a lot of people.

The worst a hacker would do is to crack your wallet and that is if you leave it vulnerable. Shits happen, no doubt and you are in control of your wallet except if you are using a centralized exchange which we all should know by now that you should not do if you want to be in charge of your money.

Anything that has to do with online or offline required the individual to understand how to level up security and stay safe in case of invaders, so, it is absolutely in everyone's hands.

[BlackPanda]

We have directly felt the impact of Bitcoin's power. It is also felt in the economic sector, now the economy of many people in the world is increasing and many people who previously had a bad economy and ultimately get a remarkable level of income. Many people in developing countries have previously been unemployed and at the moment they can work with Bitcoin. This is a proof of the magnitude of Bitcoin's impact on the economic system worldwide. Bitcoin has the power and will also show its existence to the development of digital currency in the world.

[Jedie22]

No one can steal all bitcoins if such thing is possible it would be done in the past. Such thing will never happen and if someone find a way to do something like that i think he will be intelligent enough to know that stealing all bitcoins is not a good thing because they will have no value: who will buy something that can be stolen at any time?B Bitcoin is based on trust, more trust means more value.

i dont think so, bitcoin is digital currency therefore it is online so it is still prone to attacks by hackers and viruses if you are careless about using it. ive seen many reports that their bitcoins had been steal to thier actuall wallet because of phising , so i guess it can also happen to you and all of us who uses bitcoin. stealling bitcoins is a good thing for them because they can sell them to earn a profit effortlessly.

Every things in the cyberworld has its own disadvantage, even how secured it is. I know bitcoin is highly secured and how reliable it is and I believed its capability but scammers and hackers or any computer experts are possible to do something in order to downfall the bitcoin. The security of bitcoin were already anticipated those bad people and doing something better to there security. Also, as the bitcoin being  part of our society, it really helps people to earn as extra income and gives  progress in our country and our economy as well.

[Nahl]

whole world adopt bitcoin looks impossible to me but if this is happened bitcoin will so expensive and if all of bitcoin stolen and only belong to some people then i can't imagine the disaster would they made because they can able to manipulate and rule some countries
 

[tsutiy]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

That's highly unlikely. I think there are no geniuses that can hack decentralised blockchain now

[changcloy]

i think if everybody adapt the world of bitcoin which is not impossible because today we are very into technology and bitcoin is not that hard to access...if ever that will happen i think bitcoin holders should be more careful to their own account they should not let anyone know their password because just through internet hackers can easily hack everybody's account.

[ricardobs]

We have directly felt the impact of Bitcoin's power. It is also felt in the economic sector, now the economy of many people in the world is increasing and many people who previously had a bad economy and ultimately get a remarkable level of income. Many people in developing countries have previously been unemployed and at the moment they can work with Bitcoin. This is a proof of the magnitude of Bitcoin's impact on the economic system worldwide. Bitcoin has the power and will also show its existence to the development of digital currency in the world.

Bitcoin can affect the Economy of a country in several ways, both in the good ways and the bad. The good ways I believe it will affect the economy is by creating a good investment platform for the people to invest and earn profit. Next is by providing some little job opportunities with big earnings. That’s all I know it can do…for now.

[bitcoinmaniac52]

A lot of people who were poor before are now worth a fortune. You can buy and sell whatever you want if you invested into Bitcoin early enough. I  am talking about 2009-2013 when it was under $20. Even an average poor person could be rich now.

[Ahiaba]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

Definitely it will affect the market value of Bitcoin downwards and invirably the economy at large but other altcoins will use that advantages of Bitcoin decline to appreciate  because more will start accepting altcoins in place of Bitcoin.

[THErapist]

I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

That's unlikely though not completely impossible

But you should first ask yourself whether Bitcoin is actually going to become the only currency used by the whole world. That's highly unlikely on its own. Even if we hypothetically assume that ("just for fun"), it would be more about cracking Bitcoin cryptography rather than stealing bitcoins like it happened at Bitfinex. This is certainly possible but the question itself is like what would happen if someone found a "kill switch" of sorts to power off the whole Earth. Obviously, people would quickly switch to direct barter (start using candles)

Bitcoin serves as an alternative source of income for those who are jobless. And I think that is really a big help. People can buy and sell bitcoin and earn a large amount of profit. People can now control their wealth with nothing more than the power of bitcoin.