Can bitcoin improve the economy of a country?

[Simpkurao]

Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?

Certainly can sir, if bitcoin users are increasing in a country, certainly those who work in bitcoin have income to meet family needs, and indirectly change the country's economy.

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[hyunee]

There are some points that bitcoin can really improve one country's economy.  I'm not an economics expert but I think this has something to do with a growing market and the circulation of money in the country. This also includes demand and supply. I really believe that bitcoin plays an important part in one country's economy.

[CowboyKiller]

Bitcoin has made many successful and wealthy people, because they are rich then this is proof that bitcoin can improve and improve the country's economy. if bitcoin is legalized then in a short time bitcoin will be popular and increase the country's foreign exchange.

Bitcoin has the potential of making you rich witching short time period. There are countless people who have totally changed their lives just by working with bitcoin. Bitcoin is increasing in value for last three years and is now going to reach 7k dollars before the beginning of 2018. If you really ant to be rich and a millionaire in near future, bitcoin is the best option so far for making your dreams come true.

See many people have the possibility to get rich and improve their lives from bitcoin. I think that's what makes a country's economy improving you know. I think the economy of a country to be good is when their society is prosperous right ?
and bitcoin do that ? by generating a large income on their users (many communities and society)

Do you know the how the market works? It does not help all investor, trader will become the rich. You must to know the market is a tool to transfer money between loser and winner, therefore when you get money through trading, someone has losed and transfer its money to your balance

[jonatuzc]

according to my opinion bitcoin will decrease the unemployment in many countries in the future and in the country when the rate of unemployment decreases then off course there country become strong financial so we can say that bitcoin can improve financially condition of a country.

Yes you’re right, but I don’t think it really favors every country. I read a news article online this morning about a country, wish I wouldn’t mention, and from what I’m seeing, this doesn’t favor them in any way at all. Well, everyone has to work real hard before it can favor them.

For my country, I believe it really favored a lot of people in my country, haven’t heard anyone that said they gained nothing from it.

[valentinen39]

Yes bitcoin can improve the economy of a country..because bitcoin gives big opportunity to unemployed people who have plenty of time to do bitcoin..help lessen people who doesn't earn..and can help their family and their future..improving economic lifestyle of all people

[joshua10]

yes, why not help bitcoin for our area or country because many people are able to get jobs and because of that it will improve our country without a bit of people who are still struggling with bitcoin so I believe that bitcoin can improve our nation free bureau

[markk94]

in my opinion, bitcoin can improve the economy of a country. it can increase the gain of each region in a country based on bitcoin user. and in bitcointalk itself there's bounty too that rewarding some token or coin if they succeed. so sooner or later. it will improve the economy of a country. #CMIIW

[Kadal Ijo]

in china there are thousands of new rich people because bitcoin, they open bitcoin-related business such as mining, trading sites and so on, it proves that bitcoin can boost the country's economy.

[serjent05]

I think it can because I believe in chain reaction.  If a citizen of that country become capable of supporting themselves and have extra money for savings, the economy will boom since people have more money to spend and merchants will benefit from it, they then pay taxes to the government and with higer tax collection, government then can improve their services and other stuff that will benefits its citizen.

[HalfDeck]

Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?

I think one of the main factor is now the role of bitcoin when it comes to transactions and as an another medium for investing.
The fast growing of its popularity in the economy and as a currency is giving hope in a country's economy if will be used and implemented well.

Yes if bitcoin will be used and implemented well in different countries they have a high chance of improving their economy because the value of bitcoin is continuously rising and it is a good sign for investment, a lot of people can gain high profit when it comes to bitcoin.

And beside that, there are also have a lot of people lost many money when they invested in Bitcoin. Profits and loss is normal for the cryptocurrency market. These things always alive around the investor. The market just wait some investors have wrong decision and make those people lose money.

[Sled]

Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?

I think one of the main factor is now the role of bitcoin when it comes to transactions and as an another medium for investing.
The fast growing of its popularity in the economy and as a currency is giving hope in a country's economy if will be used and implemented well.

Yes if bitcoin will be used and implemented well in different countries they have a high chance of improving their economy because the value of bitcoin is continuously rising and it is a good sign for investment, a lot of people can gain high profit when it comes to bitcoin.

And beside that, there are also have a lot of people lost many money when they invested in Bitcoin. Profits and loss is normal for the cryptocurrency market. These things always alive around the investor. The market just wait some investors have wrong decision and make those people lose money.

I agree to that the cryptocurrency market has a lot of losses and profits for the people who are into that market but it should not bother you because those are normal and once you get used to that then it will become easy for you to think for the things like strategies that you can use in your trading or investment that can assure you to make money.

[microwave]

Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?

Actually bitcoin can help our economy to improve, especially when it is fully accepted by our country. I think that bitcoin is not so hard to accept by the investors because it is open for other opportunities. In addition there are many interesting features of bitcoin. One example was its price volatility.

[jatin729]

Yes bitcoin can improve economy if it regulated by particular country.Than bitcoin can be used for trading purpose and people can use bitcoin as they are using fiat currency. people will want to earn more bitcoin if they legalize in country and then Per capital income will rise.

[microwave]

Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?

Actually bitcoin can help our economy to improve, especially when it is fully accepted by our country. I think that bitcoin is not so hard to accept by the investors because it is open for other opportunities. In addition there are many interesting features of bitcoin. One example was its price volatility.

[jaysabi]

Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?

Actually bitcoin can help our economy to improve, especially when it is fully accepted by our country. I think that bitcoin is not so hard to accept by the investors because it is open for other opportunities. In addition there are many interesting features of bitcoin. One example was its price volatility.

What can bitcoin do that cash doesn't already do though? In order to actually improve an economy, it has to have some attribute that creates value (either a product or service that employs more people) beyond what cash does a function of value transfer, and I don't see how bitcoin does that better than cash. Bitcoin actually costs more to transact than cash does, because when I hand you fiat money, you have the full value of the cash. When I pay in bitcoin, miners take a transaction fee, and although generally a small portion of the overall transaction, that tiny drag actually makes bitcoin less efficient than cash and therefore worse for an economy to use.

[Vaculin]

Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?

Actually bitcoin can help our economy to improve, especially when it is fully accepted by our country. I think that bitcoin is not so hard to accept by the investors because it is open for other opportunities. In addition there are many interesting features of bitcoin. One example was its price volatility.

Yes.Bitcoin is indeed an asset to help improve our economy.It can only be possible if most of the citizens are going to make use of bitcoin and if bitcoin itself will be accepted and implemented by the government.If you look into bitcoin closely,it can really offer a vast opportunities that even unemployed people will be able to earn money just like what employed people are able to earned.

[sheenshane]

Unemployed people to our country become less because of joining bitcoin they earn from here bitcoin and change to our local currency that's helps the economy of our country but still the income of our government will remain because they did not controlled us which is good for us we have a freedom only bitcoin user will rich.

[Flodemaga]

Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?

Actually bitcoin can help our economy to improve, especially when it is fully accepted by our country. I think that bitcoin is not so hard to accept by the investors because it is open for other opportunities. In addition there are many interesting features of bitcoin. One example was its price volatility.

What can bitcoin do that cash doesn't already do though? In order to actually improve an economy, it has to have some attribute that creates value (either a product or service that employs more people) beyond what cash does a function of value transfer, and I don't see how bitcoin does that better than cash. Bitcoin actually costs more to transact than cash does, because when I hand you fiat money, you have the full value of the cash. When I pay in bitcoin, miners take a transaction fee, and although generally a small portion of the overall transaction, that tiny drag actually makes bitcoin less efficient than cash and therefore worse for an economy to use.

You had forgoted that bitcoin makes the money to circulate from your hand to mine, all days the money is changing hands, soo if i started with 1000 dollars and have now 10000 dollars, i can invest into some personal project as well purchase something with it. Lets take a looks into Japan, wich legalized bitcoin, how many companies opened to offer services and products related to crypto world, im expecting to see their year results, because they joined into bitcoin and price had jumped from 1200 to 5500 dollars, soo yes bitcoin has already such power.

[MAJICOIN]

Yes in my opinion bitcoin can really improve the economy of a country in a sense through bitcoin many people of the world are get employed they have changed their life style and through this they have improved their life style it gives positive affect to economy through bitcoin the economy is going to the positive side and in the future you will see the clear results of it.

[phr0stbyt3]

It can actually bitcoin gives profit or allows people to earn extra income from trading , gambling etc when people start earning these extra income and profits on a regular basis they start spending more , spending more generates tax for the government and also gives more cash to businesses which expand and create more job opportunities