Can bitcoin improve the economy of a country?

[shadelockme]

Of course, I believe bitcoin has in no small way improve the economy of a country and not even to those countries that have accepted bitcoin, definitely bitcoin can play a substantial role in changing the economy especially when its use becomes legitimate. Legitimate, in a sense that, there is recognition in every State of every government body honoring its existence. If it happens, it can pressure everyone in the banking industry to bring down costs for banking transactions in order to stay competitive.

[yosakahina]

Yes, definitely bitcoin can play a substantial role in changing the economy especially when its use becomes legitimate. The government then can earn from taxes thus increasing the country revenue which can be use to enhance and improve the countries economy.

[Yatsan]

It can improve economy of a country as long as it is use is a good way just for example for using it in the stores to make life easier for using it to buy and sell in the hassle free way as long as the use of it is use in a good way it can make the economy of a certain country good.

[deisik]

For good economy money must circle and bitcoin and crypto currencies is new option for this process. I think soon we will see all results of bitcoin accepting and only after that we will be able to judge bitcoin's effect on the economy.

And I, despite the fact that it is very cold and constant in winter, like a country like Finland. I was never there but I really like watching different programs about this country on TV and I always dream about how I would live in this country. Although seriously thinking about migration to a certain country, it is necessary to approach this issue correctly and that the country is in all respects social and economic at a good level of development. Not the least role is played even by the relationship between the population and the authorities. Although I understand that in most countries of the European Union these aspects are observed and it is possible to go to a permanent place of residence without problems

And what does this all have to do with Bitcoin?

Has Finland recently adopted Bitcoin as legal tender or something to that tune? Last time I checked Finland was still part of the European Union and more so part of the Eurozone (unlike, for example, the neighboring Sweden). Therefore, they seem to be using Euro as their local currency and simply can't accept Bitcoin as legal tender unless the whole Eurozone does exactly that. So what did I miss about Finland and its connections with Bitcoin?

[L00n3y]

Well that will solely depends on how the country will view Bitcoin. As we all know mixing Bitcoin with central banks are like water and oil. The economy of the country will improve only if Bitcoin will gonna be a major advantage of transactions of businesses in government and private sector which I think that will lead to a collapsing power of central banks to rule. If only that country will have their own system and don't depend on central banks then mixing Bitcoin to such country will be like fuel and fire.

[White Christmas]

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 because their are many bitcoin users in their country. As far as I know lots of country in this world didn't accept bitcoin as a virtual currency because governments are against bitcoin. There is a possibility that bitcoin can improve the economy of a country if they accept it. Because bitcoin right now is powerful.

[mornabo]

Yes, definitely bitcoin can play a substantial role in changing the economy especially when its use becomes legitimate. The government then can earn from taxes thus increasing the country revenue which can be use to enhance and improve the countries economy.

I want to ask you how the government benefits from taxing on bitcoin. If the bitcoin user is anonymous. Even the government does not know which bitcoin users are from their country?

[aTriz]

Yes, definitely bitcoin can play a substantial role in changing the economy especially when its use becomes legitimate. The government then can earn from taxes thus increasing the country revenue which can be use to enhance and improve the countries economy.

I want to ask you how the government benefits from taxing on bitcoin. If the bitcoin user is anonymous. Even the government does not know which bitcoin users are from their country?

Exactly, it is pretty much impossible to tax someone correct for their bitcoin savings, which makes ideal for tax evaders i guess. If i remember correct there was less than 100 forms on tax contributions in the US regarding bitcoin done ever since bitcoin came out.

I think that bitcoin can improve the financial situation in every country especially the countries where people are suffering from a cash crunch or hyperinflation. Bitcoin can solve these problems, and help globalisation happen.

But obviously a lot of countries don't appreciate what bitcoin is, they hate it because it's against central banking and a threat to their central banks.

[PeRo]

I do not know about a whole country, but I know Bitcoin can help individuals in poor countries because it is kind of easy to earn Bitcoin nowadays. Maybe it will help countries, but first it has to become a countries main currency.

[Labumi]

Of course, I believe bitcoin has in no small way improve the economy of a country and not even to those countries that have accepted bitcoin, definitely bitcoin can play a substantial role in changing the economy especially when its use becomes legitimate. Legitimate, in a sense that, there is recognition in every State of every government body honoring its existence. If it happens, it can pressure everyone in the banking industry to bring down costs for banking transactions in order to stay competitive.

Well, I'm sure and see well that now bitcoin became a very digital currencies provide an advantage for everyone. For those already using bitcoin since a long time I am sure has now become someone who has income or the huge funds. For if the overall price of the bitcoin together, this is now the most high and well now there are likely to continue to rise as many companies have started using technology interested bitcoin
 

[Ayiranorea]

I do not know about a whole country, but I know Bitcoin can help individuals in poor countries because it is kind of easy to earn Bitcoin nowadays. Maybe it will help countries, but first it has to become a countries main currency.

As mentioned the growth of an individual as a whole will make impact on the country's economy. Even when a citizen of particular country is making money through bitcoin, then he's making an inflow of investment or some money into the economy. Also the one to adopt earlier will be the best to benefit through bitcoin from expertise view.

[chixka000]

Bitcoin can provide an extra income to us and it can also be a full time earnings for some. The opportunity that it gives to us doing the jobs done at home is impactful. So to anwer your question then it could be an absolute Yes

[kelseydustin]

It can improve economy of a country as long as it is use is a good way just for example for using it in the stores to make life easier for using it to buy and sell in the hassle free way as long as the use of it is use in a good way it can make the economy of a certain country good.

I do not think that it can improve the economy of the country because most of the countries do not want to use bitcoin either crypto

[marcuslong]

Bitcoin can provide an extra income to us and it can also be a full time earnings for some. The opportunity that it gives to us doing the jobs done at home is impactful. So to anwer your question then it could be an absolute Yes

Only to people who can provide bitcoin income but not all people know about bitcoin and you're lucky enough to know more about bitcoin. But when the company and business implemented and adopt bitcoin for good that can be acceptable even in local store maybe it time that our economy growth because of bitcoins. Bitcoin is only a sideline of people where they can get income here by doing some activities or by just tradiing.

[Kotone]

Maybe yes Maybe No there is possibility that bitcoin can help economy of each country once it will be use as physical money of all people once they involved it to business. Like paypal it is company that helps people to run there own business and most of countries now are using bitcoins for there future purposes.

[darthmaul]

It is sort of true for some countries but not all of them. And I don't think countries think on that level, that due to high end users of bitcoin their economy would be changed. Economy is very big word and contains huge decision and rules/regulations implemented by government. It needs literacy amongst the people, perfect balance of life needs that is food, water and shelter within the country. In addition to that people need to be loyal tax payer. These all things contribute to nations economy.

Bitcoin on the other hand is digital stuff that is loved by many peoples' and it is fulfilling everyones financial problems. That is all I think about the bitcoin. It will contribute to nations economical situation when it will be implemented by the government legally with proper taxation and use of the currency within the country.

[adzino]

It can help to us develop the economy of a country, specially poor developing countries. Easy international transaction and payments opens more opportunity for people to work online and at least find some job that could help them survive. More people getting jobs = better economy of the country.

[jonnybravo0411]

It can help to us develop the economy of a country, specially poor developing countries. Easy international transaction and payments opens more opportunity for people to work online and at least find some job that could help them survive. More people getting jobs = better economy of the country.

If they answer the question whether the country's economy will help Bitcoin or even all of the crypto currency, then it must be emphasized that everything depends first and foremost on the bureaucracy of the composition in the government of the country. Only then it will be possible to count on the fact that the crypto currency will change the course of events and make the country's economy more efficient and richer so that corruption does not interfere.

[Jewell]

Maybe yes Maybe No there is possibility that bitcoin can help economy of each country once it will be use as physical money of all people once they involved it to business. Like paypal it is company that helps people to run there own business and most of countries now are using bitcoins for there future purposes.

but i am sure that bitcoin is really already increasing the economic condition of the the countries. as bitcoin is proving opportunities to make good money from bitcoin through different ways, even you can make money free from signature campaign, you can even get a good profit if you have invested your money in a potentially good alt coin and if the price of that gold goes up you will surely get good profit.

[Lancusters]

It can help to us develop the economy of a country, specially poor developing countries. Easy international transaction and payments opens more opportunity for people to work online and at least find some job that could help them survive. More people getting jobs = better economy of the country.

If they answer the question whether the country's economy will help Bitcoin or even all of the crypto currency, then it must be emphasized that everything depends first and foremost on the bureaucracy of the composition in the government of the country. Only then it will be possible to count on the fact that the crypto currency will change the course of events and make the country's economy more efficient and richer so that corruption does not interfere.

This is a misconception. Bitcoin can not help the economy. On the contrary, he was competing for investment. If the investor invests in companies that it promotes the creation of new jobs and increase of products. That investments in bitcoin economy? Nothing. Even people who do not pay taxes with it.