Can bitcoin improve the economy of a country?

[Paid Piper]

i think yes , even if some banks don't accept the bitcoin , i think this may be the future of payments , or it would be good to be . And you know with all the taxes that go to the state budget it would be a big amount sooo yes i think bitcoin can improve economy of a country but in future not right now.

Yes, bitcoin can help both as a payment processor and by creating lots of job opportunities to common people. When common people gets their lifestyle is improving then it definitely influence a nation's economy too. When bitcoin hits main stream of adoption, we are going to see lots of such improvements for sure.

yes there is no doubt that bitcoin can in fact improve the economic condition of a person, if a person have some experience in trading then he can really make good profit from altcoin trading.

yes that is right and there is really no doubt that bitcoin can  really improve the economic condition of a country , but i i think they need to that all the people of that country start using bitcoin.

[Schuyler]

It can't improve the economy unless or until it is accepted by countries as a legal payment method. The legalization of bitcoin is giving rise to the bitcoin's price and it will definitely effect the economy in bitcoin legalized countries.

Even if bitcoin is accepted legally in a county, it has no role to improve the economy of that country. If it's a real country, then it economy will be very complex and consisting of too many components. So a simple asset such as bitcoin can't improve/change the economy of that country.

Yes it's  true.  What can I say?  Until now cryptocurrency is not yet legally accepted in my country and I do not even know if they accept it or not. But I'm still hoping that cryptocurrency would be legal and adopt around the world  to be legally binding.  And if it's legal in our government, we expect it to have a tax. So far, bitcoin help people in terms of profit.  

[Beparanf]

It can't improve the economy unless or until it is accepted by countries as a legal payment method. The legalization of bitcoin is giving rise to the bitcoin's price and it will definitely effect the economy in bitcoin legalized countries.

Even if bitcoin is accepted legally in a county, it has no role to improve the economy of that country. If it's a real country, then it economy will be very complex and consisting of too many components. So a simple asset such as bitcoin can't improve/change the economy of that country.

True.  What can I say?  Until now cryptocurrency is not yet legally accepted in my country. But I'm still hoping that cryptocurrency would be legal and adopt around the world. And if it's legal in our government, we expect it to have a tax.

Maybe when governments finds a way to access it or put tax on it they will surely adapts it and it can help in one's economy but for now let's enjoy it that it's only the fees that deducts on us nothing else

[dmamigo]

It can't improve the economy unless or until it is accepted by countries as a legal payment method. The legalization of bitcoin is giving rise to the bitcoin's price and it will definitely effect the economy in bitcoin legalized countries.

Even if bitcoin is accepted legally in a county, it has no role to improve the economy of that country. If it's a real country, then it economy will be very complex and consisting of too many components. So a simple asset such as bitcoin can't improve/change the economy of that country.

True.  What can I say?  Until now cryptocurrency is not yet legally accepted in my country. But I'm still hoping that cryptocurrency would be legal and adopt around the world. And if it's legal in our government, we expect it to have a tax.

Maybe when governments finds a way to access it or put tax on it they will surely adapts it and it can help in one's economy but for now let's enjoy it that it's only the fees that deducts on us nothing else

If converted to fiat, yes it does helps the government or it might help.
In countries like ours, we need to use documents to convert them to local fiat, and the government gets to track the inputs and thus if it exceeds the Taxable income limit, they can charge TAX. Now if we sell directly to others or just trade, then its absolutely free.

Currently our government haven't fully legalized cryptocurrency, so once it does that, I believe more regulations are going to come in.

[TheFriends]

It seems that the free market works better than the market with too many barriers, innovation benefits.

[Stavri]

It can't improve the economy unless or until it is accepted by countries as a legal payment method. The legalization of bitcoin is giving rise to the bitcoin's price and it will definitely effect the economy in bitcoin legalized countries.

I agree.
If it can legalize for the country it can improve because traders and investors may increase amonth of usd inside the country. But it is not possible i think for a while.

[omonuyak]

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?

Bitcoin can actually change the Economy of a nation especially those from the third world countries! The Fiat currencies we are using is behind the current inflation rate the whole world is going through right now . we must see this advanced in technology as a solutions to our current economic challenged the whole world is facing.

[chineseprancing]

It can't improve the economy unless or until it is accepted by countries as a legal payment method. The legalization of bitcoin is giving rise to the bitcoin's price and it will definitely effect the economy in bitcoin legalized countries.

I agree.
If it can legalize for the country it can improve because traders and investors may increase amonth of usd inside the country. But it is not possible i think for a while.

Legalization of bitcoin in different countries was impossible to happen, because bitcoin is a independent currency in different nation. I believe that if bitcoin were become legalize and covered by governments, our income as followers of bitcoin were decrease due to taxes included by the government to our income. But I believe bitcoin have a capacity to improve economy of each country who carrying bitcoin.

[BeGoods]

It can't improve the economy unless or until it is accepted by countries as a legal payment method. The legalization of bitcoin is giving rise to the bitcoin's price and it will definitely effect the economy in bitcoin legalized countries.

Nope I think legalization will only make the country become poorer and maybe the economy will be chaotic. How not bitcoin is well-known as the currency used as an auxiliary to illegal activities such as corruption, imagine when bitcoin becomes legal, criminals would more easily use bitcoin for illegal activities

[ajmapalo22]

Not really improve the economy but somehow it helps specially to those lower member of the society who are not generating enough income to support their finances, If thru bitcoin they could earn additional income and somehow help them to become financially stable meaning the earning they get can support a student in school or buy basic needs that means the lifestyle of a person improve then bitcoin was able to help the economy. But we all know earning bitcoin is never that easy.

[jualidbitmixer]

I think bitcoin can provide jobless people to get a job through bitcoin and of course it will decrease the jobless percentage on a country and the economy on a country also become better since some jobless people can get a job and earn a living with bitcoin. It's not that significant, but at least it can improve and help a bit the economy on that country.

[The_prodigy]

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 its the other way around a mark of a successful or developing country is its abilith to accept virtual currency or its ability to have an economic plan to accept and develop this kind of ventures. A starting cou try to develop would need more than btc to improve as there are laws and technology that should be in place before it booms.

[davids]

I don't think so. It only improves the economy of some groups that use bitcoin. how it can improve the economy of a country if in some countries bitcoin still not legitimately accepted as a method of payment, besides the government will have difficulty determining the tax from the use of bitcoin

[jc89]

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?

Bitcoin may be a powerful cryptocurrency but I don't think it can have a big impact in a country's economy. If you studied economics, you will know that human capital, infrastructure, and technology are some of the factors of economic growth. And I think that the reason why many countries accept btc is that it is a new source of income. And of course, they are also influenced by other countries and we know that US have a lot of influence so whatever the US have, other countries will try to cope up and compete.

[Coffee135]

Bitcoin is a threat to the economy of any country. But first of all will suffer the US economy. I am sure that soon we will see a real war the us government against bitcoin. We will need to have a lot of patience and trust to bitcoins to win this war.

[deisik]

I don't think so. It only improves the economy of some groups that use bitcoin. how it can improve the economy of a country if in some countries bitcoin still not legitimately accepted as a method of payment, besides the government will have difficulty determining the tax from the use of bitcoin

That remains to be seen

If your point comes down to saying that Bitcoin allows some people to earn money at the expense of other people (which is a sane idea anyway), what prevents whole countries from doing absolutely the same? In this manner, it could be said that Bitcoin can in fact improve the economy of a country even if in some countries it is still not legally accepted, and specifically at the expense of the countries that deny Bitcoin a positive legal status

[_Legendary_]

I think it could, currently marketcap of bitcoin more than 50 billion USD, and that is a very big number, if the country is serious with bitcoin then the benefits are felt for the citizens.

[basyang]

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?

     In my opinion, I think it could especially if many countries accept it as a payment, I think in the future bitcoin will improved and there are so many ways to used it. Bitcoin can also help the society to lowering the poverty rate if they earn bitcoin. Bitcoin can be a big impact not only in the countries will accept it but also to the citizens of it.

[Igebotz]

its helping why? it create business and job like Campaigns. . . and its create more than we expect. it can use for transaction investment etc. . .moving a money county to county take days of transaction the solution ? bitcoin in just a min you have your money. and its low fee than other remittance center

[bitcoinmaniac52]

Bitcoin is single-handedly responsible for creating hundreds of multi-millionaires from nothing.
If it can do that, it can also raise a country up from nothing.
Imagine if a poor country invested a few million in crypto in 2011/2012/2013... they would be rich now.