Can bitcoin improve the economy of a country?

[@prashant]

I think if a country take advantage of the potentials of Bitcoin, it can help the economy of a country.  Simply by legalizing Bitcoin or acknowledging it as money and  encourage Bitcoin start-ups to start, it may attract lots of company and investors to venture a business such as exchanges or online shops based in its country.  The government then can earn from taxes thus increasing the country revenue which can be use to enhance and improve the countries economy.

I dont think so bitcoin can never increse country economy ,there are many factor which affects country economy while bitcoin is anonymous and transaction is high ,it will only create problem for lower society people.if government focus on blockchain and use it effectively then it will help certain country to improve their digital resources management.

[LuanX3]

I think this has been asked a lot by other and I think the answer would be the same which is really "it depends." Depends on the people who use it and how they use it. If you are thinking it would improve places where internet and smartphones can be used, then tough luck it will most likely change it for the worse.

[olushakes]

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 cant believe questions like this is still being asked concerning bitcoin after all these years from 2009 where we have seen several developments that have happened, several people have come in and still at an increasing rate. countries have adopted bitcoin, banks are making use of the blockchain technology, financial liberation have happened to people because of this, and indirectly this is affecting their individual country's economies.

[NEWGOODOUBLE]

I think if a country take advantage of the potentials of Bitcoin, it can help the economy of a country.  Simply by legalizing Bitcoin or acknowledging it as money and  encourage Bitcoin start-ups to start, it may attract lots of company and investors to venture a business such as exchanges or online shops based in its country.  The government then can earn from taxes thus increasing the country revenue which can be use to enhance and improve the countries economy.

I dont think so bitcoin can never increse country economy ,there are many factor which affects country economy while bitcoin is anonymous and transaction is high ,it will only create problem for lower society people.if government focus on blockchain and use it effectively then it will help certain country to improve their digital resources management.

I think maybe bitcoin helps the economy of a country. You can see people get riches or people who are out of poverty by using bitcoin. Of course it helps the economy of a country

[Cherylstar86]

Exactly bitcoin will certainly improve the country's economy, because people were now have good imcome from bitcoin investments. They will spend more money in the local stores to buy the wants and needs, but most of all money will be easily been circulated to the country's economic system circulation of the entire country income at the world market.

[bitbunnny]

Bitcoin can make improvments in the economic situation of individuals but to improve the economy of some country it should be formaly regulated and accepted as a official payment method and regular part of financial system. And I don't know that any country has officialy done that.
Maybe it could influence the economy indirectly by people who will spend more fiat money exchanged from Bitcoin.

[machinek20]

I dont think any of the government think bitcoin can change the country's economics condition, if the government thought like that its mean that their economics condition with fiat is ruined, the reason some country accepting bitcoin is because there are a lot of users and it can help a lot of people to have a better income and bitcoin can provides job opportunity

[Taki]

As I know only Cambodia accepted bitcoin yet. Other countries in process or on a faze of doubt. You see, bitcoin is a new thing in all world's economy and yes, it is very progressive, but add to all pluses of bitcoin it brings with itself real danger. Under this word I mean that all transactions are personless and bitcoin can be used for terroristic activity or other criminal things.
Today countries are developing the system of how bitcoin will work on their territory to skip all this danger moments by maximum. But again, if bitcoin will be accepted we will have to pay tax to the government for all our earnings in bitcoin or other crypto. So, I am no for bitcoin acceptation indeed. 

[Pattart]

I think if a country take advantage of the potentials of Bitcoin, it can help the economy of a country.  Simply by legalizing Bitcoin or acknowledging it as money and  encourage Bitcoin start-ups to start, it may attract lots of company and investors to venture a business such as exchanges or online shops based in its country.  The government then can earn from taxes thus increasing the country revenue which can be use to enhance and improve the countries economy.

I dont think so bitcoin can never increse country economy ,there are many factor which affects country economy while bitcoin is anonymous and transaction is high ,it will only create problem for lower society people.if government focus on blockchain and use it effectively then it will help certain country to improve their digital resources management.

Of course bitcoin provides a good influence for a country. If most people in the country earn a salary or income from bitcoin. Surely the country will get revenue from outside? #imo

[btvGainer]

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?

Blockchain technology can curb many prevalent evils like corruption,money laundering etc which can strengthen the economy of countries engulfed with these problems.

[BitcoinPanther]

I do believe that Bitcoin can improve the economy of a country.  If several  bitcoin start-up open in a certain country it will definitely add demands for local jobs especially if an industrial start-up company is to venture into bitcoins.  Aside from that it will also give revenue to the government indirectly since there will be lots of jobs either corporate or freelancing to its citizen.  Elevating the standard of living of the country's citizen means a certain improvement into its economic state.  This people can declare tax of their earning either in money or Bitcoin thus giving more source of revenue to the government.  This means an additional fund that can be used for economic development of a country.

[Mometaskers]

I can't speak for every country since I've never lived abroad but it does benefit developing countries where it's legal. People investing in it here in my country tend to draw money out of their bitcoin wallets for expenses. That money then enters the market. The gov't also earn from the fees paid to the exchange and so that's additional money to be spent.

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 cant believe questions like this is still being asked concerning bitcoin after all these years from 2009 where we have seen several developments that have happened, several people have come in and still at an increasing rate. countries have adopted bitcoin, banks are making use of the blockchain technology, financial liberation have happened to people because of this, and indirectly this is affecting their individual country's economies.

Regarding this question being asked over and over here in the forum, it's probably because there are always new members joining and they mostly just look at the first page of each section. Unless they do a sort search on the url, they'll only see threads in order of last answered. This question could have been asked in a thread years ago and got bumped down due to inactivity.

[marcuslong]

I can say yes when countries adopt and implemented to our economics maybe there will more improvement will happened not only in business but also from aother company that will ise bitcoins

[dadangbau]

I think if a country take advantage of the potentials of Bitcoin, it can help the economy of a country.  Simply by legalizing Bitcoin or acknowledging it as money and  encourage Bitcoin start-ups to start, it may attract lots of company and investors to venture a business such as exchanges or online shops based in its country.  The government then can earn from taxes thus increasing the country revenue which can be use to enhance and improve the countries economy.

It is possible that the government to legalize bitcoin in a country will have a good impact on the economy of the country, but in my opinion it is not easy to get official recognition from the government and it will take a relatively long time to review and implement it. Bitcoin system

[prass tyo]

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?

This seems to be the demands of the times because in addition to bitcoin users in the country a lot, there are also because many other countries already use otherwise it will be left behind, when compared with other countries

I think bitcoin is a lot of convenience, when we again fairy abroad we do not have to bother, exchange money now just click, all bitcoin prices are the same in every country so we can directly pay using bitcoin

[SpectivVR]

This is an interesting question really, and many people are working on testing the idea of BTC being the entire economy of small smart cities. These will be powerful tests that determine the viability of Bitcoin as a currency which countries could operate on.

[mamaita]

I think it can help lessen the people who doesn't earn or the unemployed,
They can earn through this crypto currency and help their family and their selves .

It is true in the era as it is now looking for a very difficult job especially with minimal education, of course we will lose compete with them there, but different things with bitcoin here we can be the same struggle without educational view, I harapa bitcoin can continue to survive because of biosa Give a glimmer of hope to those who do not go to school and work

[Yakamoto]

I think if a country take advantage of the potentials of Bitcoin, it can help the economy of a country.  Simply by legalizing Bitcoin or acknowledging it as money and  encourage Bitcoin start-ups to start, it may attract lots of company and investors to venture a business such as exchanges or online shops based in its country.  The government then can earn from taxes thus increasing the country revenue which can be use to enhance and improve the countries economy.

I dont think so bitcoin can never increse country economy ,there are many factor which affects country economy while bitcoin is anonymous and transaction is high ,it will only create problem for lower society people.if government focus on blockchain and use it effectively then it will help certain country to improve their digital resources management.

It really is a case-by-case basis essentially, for some countries having the increased trade from using Bitcoin as a supplement to their standard fiat currency can be a benefit but for larger countries it really does not matter and it just functions like how you would expect it to, just a small portion of the rest of their economy.

Some places would benefit, but most wouldn't see a change. Likely not a negative for anyone.

[speem28]

Yes, it can help improve the economic state of a country but it really depends on how you take advantage of bitcoin. Bitcoin's features can help many people in the business industry earn more from their business like they can avoid tax. Imagine you are receiving money from an external source, Ideally, you should be reporting this income and pay tax to your government but, with the use of bitcoin, you can convert it to coins and spend it online or convert it later to fiat later. Bitcoin has a great potential that some other countries are not seeing and I think they will regret it someday.

[bouren]

One aspect of Bitcoin which I think can has impact upon improvement of country's economy is 'Control on inflation'. With regular increase in price, bitcoin is capable enough to rectify the impact of inflation and which is good sign for economy.