Economic effects of bitcoins

[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.