Can bitcoin improve the economy of a country?

[kelseydustin]

Of course because bitcoin is part of the economy of the country. Bitcoin have a big part in the economy and it can improve a single country. I know having a bitcoin in a country is a really helpful in their economy.

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Show me the proof which proves that bitcoin is playing an important role in the economy of a country lol. Please do not say something silly in this community or you will be criticized by members. No country accepts and there is nothing say that bitcoin is a part of any country on this planet

[deisik]

No, I do not think bitcoin can improve a country's economy, not much bitcoin can do to support the economy. If to boost the economy one or more people might be able, but if for one country with thousands of millions of people, that is impossible

It cannot support the whole economy of a country but it can help and improve the transactions of a country. Volumes of transactions are happening everyday in the blockchain network and for a country that is receiving remittance this is going to be a big help for the government and also for the citizens who are using bitcoin for remitting.

A country's economy is just an indication of how its citizens' economy. I believe bitcoin can help a country for a better economy, when bitcoin based start-up will be paying taxes and bitcoin users paying taxes for availing services from those start-up.

This is going to happen as we are already seeing many counties are in proposing to regulate bitcoin and bitcoin related business activities. For example, when a bitcoin accepting merchants is selling goods to people, they will be paying related taxes to government. People will prefer bitcoin payments and those particular merchants who might be offering extra discounts for bitcoin payments. So, indirectly bitcoin definitely could help a country economically.

In your post you make a few assumptions which are unlikely to come true in real life. For example, why would people prefer bitcoin payments if Bitcoin should remain "good" money while fiat "bad"? Further, why would merchants want to offer discounts while in reality they demand premiums due to all the hassle with the volatility of Bitcoin prices and the necessity to sell Bitcoin proceeds for fiat? Apart from that, Bitcoin itself is only money, so the only way it could help countries economically is by being more efficient than fiat

But that's unlikely, at least, until LN becomes a reality

[PancherBitCoin]

No, I do not think bitcoin can improve a country's economy, not much bitcoin can do to support the economy. If to boost the economy one or more people might be able, but if for one country with thousands of millions of people, that is impossible

It cannot support the whole economy of a country but it can help and improve the transactions of a country. Volumes of transactions are happening everyday in the blockchain network and for a country that is receiving remittance this is going to be a big help for the government and also for the citizens who are using bitcoin for remitting.

A country's economy is just an indication of how its citizens' economy. I believe bitcoin can help a country for a better economy, when bitcoin based start-up will be paying taxes and bitcoin users paying taxes for availing services from those start-up.

This is going to happen as we are already seeing many counties are in proposing to regulate bitcoin and bitcoin related business activities. For example, when a bitcoin accepting merchants is selling goods to people, they will be paying related taxes to government. People will prefer bitcoin payments and those particular merchants who might be offering extra discounts for bitcoin payments. So, indirectly bitcoin definitely could help a country economically.

In your post you make a few assumptions which are unlikely to come true in real life. For example, why would people prefer bitcoin payments if Bitcoin should remain "good" money while fiat "bad"? Further, why would merchants want to offer discounts while in reality they demand premiums due to all the hassle with the volatility of Bitcoin prices and the necessity to sell Bitcoin proceeds for fiat? Apart from that, Bitcoin itself is only money, so the only way it could help countries economically is by being more efficient than fiat

But that's unlikely, at least, until LN becomes a reality

Still far in this regard to reality and all because I very vaguely can understand how most people will be able to use Bitcoin in real life instead of money. This we already understand what and how, but many people are very difficult to understand what crypto currency is And how to deal with it in general. I just can not understand how, for example, older people will use Bitcoin, it's just absurd sounds.

[Cangkeman Wae]

I think the main problem of the country's economy is not on the currency but because of government policies on economics, politics and so on. in spite of the bitcoin then no guarantee can improve the economy country.

[ethereumhunter]

I think the main problem of the country's economy is not on the currency but because of government policies on economics, politics and so on. in spite of the bitcoin then no guarantee can improve the economy country.

bitcoin can improve the economy of a country if the government wants to listen their citizen wants. i think no matter what currency is using by the country, as long as the government can manage the economy, makes policy, and manage everything, i am sure that the country will be work with the best.

[deisik]

No, I do not think bitcoin can improve a country's economy, not much bitcoin can do to support the economy. If to boost the economy one or more people might be able, but if for one country with thousands of millions of people, that is impossible

It cannot support the whole economy of a country but it can help and improve the transactions of a country. Volumes of transactions are happening everyday in the blockchain network and for a country that is receiving remittance this is going to be a big help for the government and also for the citizens who are using bitcoin for remitting.

A country's economy is just an indication of how its citizens' economy. I believe bitcoin can help a country for a better economy, when bitcoin based start-up will be paying taxes and bitcoin users paying taxes for availing services from those start-up.

This is going to happen as we are already seeing many counties are in proposing to regulate bitcoin and bitcoin related business activities. For example, when a bitcoin accepting merchants is selling goods to people, they will be paying related taxes to government. People will prefer bitcoin payments and those particular merchants who might be offering extra discounts for bitcoin payments. So, indirectly bitcoin definitely could help a country economically.

In your post you make a few assumptions which are unlikely to come true in real life. For example, why would people prefer bitcoin payments if Bitcoin should remain "good" money while fiat "bad"? Further, why would merchants want to offer discounts while in reality they demand premiums due to all the hassle with the volatility of Bitcoin prices and the necessity to sell Bitcoin proceeds for fiat? Apart from that, Bitcoin itself is only money, so the only way it could help countries economically is by being more efficient than fiat

But that's unlikely, at least, until LN becomes a reality

Still far in this regard to reality and all because I very vaguely can understand how most people will be able to use Bitcoin in real life instead of money. This we already understand what and how, but many people are very difficult to understand what crypto currency is And how to deal with it in general. I just can not understand how, for example, older people will use Bitcoin, it's just absurd sounds.

More and more people are using payment cards nowadays

And Bitcoin payment cards are no different in this respect from the regular ones. I myself have been using a payment card which was not issued by a bank for 2 months already (though it is still a fiat payment card), and there is absolutely no difference. I guess it is the same with a Bitcoin card. Apart from that, may people are shopping online, and paying with Bitcoin may be different but it is certainly not more difficult

[CROYA86]

I dont think so bitcoin is not that popular like any other currency even tho it is the highest value in the crypto currency. but not all of the people know about this bitcoin, so this bitcoin can't improve the economy of country but i think someday will.

But if the country already recognizes the bitcoin as currency then automatically the population can use bitcoin as a means of payment, and I think bitcoin users and focus on bitcoin and some even work to earn income from bitcoin, from there people who focus on bitcoin As a livelihood then the economic condition will rise, and of course it will change the per capita income of the country

[mamaita]

Of course because bitcoin is part of the economy of the country. Bitcoin have a big part in the economy and it can improve a single country. I know having a bitcoin in a country is a really helpful in their economy.

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Show me the proof which proves that bitcoin is playing an important role in the economy of a country lol. Please do not say something silly in this community or you will be criticized by members. No country accepts and there is nothing say that bitcoin is a part of any country on this planet

I think that's not what they mean, maybe this is what he means by admitting bitcoin as a country's currency so indirectly bitcoin is widely used by residents there, so with the current prices, if the population has bitcoin since the low price then if it is sold now , It will change the person's economic situation from which there will be a change in per capita income and the poverty rate will be modest

[naidray]

I dont think so bitcoin is not that popular like any other currency even tho it is the highest value in the crypto currency. but not all of the people know about this bitcoin, so this bitcoin can't improve the economy of country but i think someday will.

But if the country already recognizes the bitcoin as currency then automatically the population can use bitcoin as a means of payment, and I think bitcoin users and focus on bitcoin and some even work to earn income from bitcoin, from there people who focus on bitcoin As a livelihood then the economic condition will rise, and of course it will change the per capita income of the country

But for common people to use bitcoin for their earning and saving, they definitely not need their government's recognition of bitcoins. They can start using bitcoins even their government is not making any stand against bitcoins.

That is the reason all over world people are already started getting paid in bitcoins as there are a lot of bitcoin based opportunities available to them. This will definitely help per capita income to improve rapidly which must be contributing their country's economy more significantly.

There are statistical data which implies about saving habit changes across many country people just due to bitcoin's investment opportunities. People are now preferring to save with bitcoin to have rapid returns and so far they are successful with their attempts. When individuals are focusing into saving that will definitely contribute a country's economic improvements.

[Obito]

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?

Definitely yes, I guess bitcoin has a will to change the economy of one country. I do believe in bitcoin because bitcoin can acts as temporary job for unemployed person. However, still it will depends on the government on how they manipulate the economy I mean as long as the corruption is present the economy will not improve.

[btcking23]

Well i guess in the situation right now,,, bitcoin can't improve the economy of the country you know why? ,,,many of the bitcoin enthusiast having an argue of this because some of the people that doesn't know bitcoin so they judge bitcoin easily by saying that the bitcoin can't make it in the near future. bitcoin can improve the economy if all the people in the world know about it.

[paned12]

Yes ofcourse but if the world doesn't accept the bitcoin in the near future, it can't improve the economy of the country,, but in some idea's if the bitcoin accepted by the people in world there will be an cooperation and unity that can improve the economy of country ,. example people just a accept bitcoin as a virtual currency.

[rahmat92]

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 don't think.

Bitcoin is good for countries economies because it is a fresh flux of investments if they are correctly regulated and directed.
I hope that one day Algeria will accept Bitcoin, it would be great for our economy and could help us solve a lot of problems due to the currencies change black market (3 bil EUR market cap) as people could buy Bitcoin and sell it in foreign countries instead of playing with the black market.

This was just an example of how bitcoin could help a countries economy, but i think that regarding the countries who aleready accepted it as a virtual currency, the main advantage is the security, as it is far better then using a credit card (was ?), and it can give a good punch to start-ups growth (if they are not scam).

I think more and more people who have bitcoin in a country will not make a country's economy worse, more and more people who have bitcoin will be better for a country's economy because bitcoin owners get their money not only from the country but from other countries

[crazycatwoman03]

I think the main problem of the country's economy is not on the currency but because of government policies on economics, politics and so on. in spite of the bitcoin then no guarantee can improve the economy country.

I agree with you that the economic problem is not about the currency. The currency and its equivalent other currency may show the economic status of a country but it should not be a problem.

Economic problems are mainly caused by the inefficient used of our resources. As a citizen, it is not our problem but should be our concern. The government have always promise to solve our economic issues but will always end up forgetting it or maybe acting but very slowly. This is how politics works, they would be active in the time where they have to gain the people’s trust but after that, they would always act like they never have said things like that.

I do not know if bitcoin might help in our economic problems but I believe that bitcoin will surely be a big help in the future.

[jonosutio]

Yes it is true, in order to provide income to the unemployed or unemployed '

[28days_ever]

Yes it is true, in order to provide income to the unemployed or unemployed '

But you need to consider that bitcoin will be able to provide income to the unemployed only where there are computers with Internet access.

[3la9l_kolbaCa]

I guess its a no, bitcoin is just an crypto currency though it is the most valuable but it doesn't mean that bitcoin today can improve the economy of the country in the near future bitcoin can but this day bitcoin can't improve cause many of the people still arguing in bitcoin price.

[qwertyup23]

In my opinion, bitcoin is a double-edged sword when it comes to affecting the economy of one's country due to its nature. Let's take this for as an example: the money supply in the market is controlled by the central bank and it regulates its liquidity. If a person then suddenly exchanged his/her bitcoin (let's say around 1-2 bitcoins) then there will be an influx in the money supply which then may decrease the value of money or the bitcoin. But also, if someone converts his/her bitcoin to cash, he/she is contributing to the economy. It really depends on the perspective of the person on whether when he/she looks at it.

[Bedebah]

Yes of course it can, it is time the country switched to a better financial system i.e. bitcoin, interesting thing of the bitcoin is acceptable globally so that if any country accept bitcoin then the economy will be better.

[deisik]

I dont think so bitcoin is not that popular like any other currency even tho it is the highest value in the crypto currency. but not all of the people know about this bitcoin, so this bitcoin can't improve the economy of country but i think someday will.

But if the country already recognizes the bitcoin as currency then automatically the population can use bitcoin as a means of payment, and I think bitcoin users and focus on bitcoin and some even work to earn income from bitcoin, from there people who focus on bitcoin As a livelihood then the economic condition will rise, and of course it will change the per capita income of the country

One thing is to be allowed to use Bitcoin, the other is to actually use it

As they say, it's a difference that makes the difference. Bitcoin has been considered as a means of payment (read as a currency) in Europe long ago but it didn't boost its adoption there. The same with Japan, the official acceptance of Bitcoin there seems to have greatly contributed to the hype around Bitcoin, not actual adoption of this currency in this country. It may happen in the future, but it is still too early to say, just 2 months after the decision of the Japanese authorities