Can bitcoin improve the economy of a country?

[Sir Legend]

Yes of course, make the last official State legal bitcoin provides convenience and subsidies for mining bitcoin, then the economy will improve. If we compared to coal mining, mining bitcoin more profitable.

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[zoelhack]

Bitcoin will change the economy of the country on the grounds that especially the government must recognize bitcoin and after that citizens must join the bitcoin. I am sure the country will grow rapidly.

[Kisanaq]

Yes of course, with more than marketcap 100 billion USD, then the bitcoin is very calculated, even those figures are larger than the gross income of a third world country (Africa, Asia, and more).

[que91]

If have a rule can tax user use Bitcoin in a country I think it can improve the economy this country , but do not have anyone can tax it and do not have user Bitcoin want that because many user use Bitcoin want do not pay taxes

[NEWGOODOUBLE]

This is so irrelevant. Why shall bitcoin improve the economic conditions of a region?

I don't see your point in asking this. Bitcoin is only a financial tool.

Of course bitcoin can improve the economy condition because it give people chance to get second resource.  It also can move the wealth inside the country

Changing the economy of a society or a person. Does not mean to be able to change the state financially for the better? Bitcoin may also have a bad effect on the government. Can be seen a decentralized and anonymous bitcoin system

[pitiflin]

It would take years for bitcoin to improve any country's economy. Knowing the fact that bitcoin 's price fluctuating up and down ,it would be a major risk for any country to accept bitcoin because of the recession all over the world,also not all countries have many bitcoin users so that might not be the reason to accept bitcoin as a currency.Finally,Bitcoin's price might be high but its stability is what matters to an country's economy.

[GoodLuck2]

This is so irrelevant. Why shall bitcoin improve the economic conditions of a region?

I don't see your point in asking this. Bitcoin is only a financial tool.

Of course bitcoin can improve the economy condition because it give people chance to get second resource.  It also can move the wealth inside the country

Of course bitcoin can provide a change in one's economy. Because it can be a profitable job for you. If the user is a successful gain of course it will change their economy?

Yes right and I am agree with you that bitcoin can change or improve the economy of a country in that way that bitcoin can give a profitable job opportunity in which you can earn easily , you can earn money from bitcoin in this way that invest some money in bitcoin and trading or joining signature campaign these ways are very easy, for joining signature campaign just you can make account and joining campaign and start earning these all ways have provide job opportunity and will make improve the economy of a country.

[espante]

Bitcoin is a neat currency and makes some transactions cheaper such as international remittances and some types of bank transfers but it doesn't add anything more to the economy even if it enriches certain individuals.

[deisik]

Now this is not yet so popular to use it on a large scale in most of the countries. I think that after some time  maybe few years this situation will be changed.

Even if the situation changes, I doubt that bitcoin can improve the economy of a country because as you can see, people using bitcoin only want to hide the government so that they can not collect tax, which will even make the country poorer

This is a common misconception

Bitcoin may or may not make a country richer (that remains to be seen, obviously), but taxes don't make a country richer, by any means possible. Basically, they only redistribute some part of the wealth created but they don't create this wealth in the first place (which is what actually makes countries richer). Moreover, it could be claimed that taxes may in fact make a country poorer since the government which collects these taxes is likely the least efficient manager out there

[mornabo]

This is so irrelevant. Why shall bitcoin improve the economic conditions of a region?

I don't see your point in asking this. Bitcoin is only a financial tool.

Of course bitcoin can improve the economy condition because it give people chance to get second resource.  It also can move the wealth inside the country

A country's economy can get better because people in that country use bitcoin for their work. So it makes their economy better. So it affects the country indirectly #imo

[bit1]

This is so irrelevant. Why shall bitcoin improve the economic conditions of a region?

I don't see your point in asking this. Bitcoin is only a financial tool.

Of course bitcoin can improve the economy condition because it give people chance to get second resource.  It also can move the wealth inside the country

Of course bitcoin can provide a change in one's economy. Because it can be a profitable job for you. If the user is a successful gain of course it will change their economy?

Yes right and I am agree with you that bitcoin can change or improve the economy of a country in that way that bitcoin can give a profitable job opportunity in which you can earn easily , you can earn money from bitcoin in this way that invest some money in bitcoin and trading or joining signature campaign these ways are very easy, for joining signature campaign just you can make account and joining campaign and start earning these all ways have provide job opportunity and will make improve the economy of a country.

It is still too early to measure the effects on the economy of a country and it is difficult to answer, but who improves the economy of a country are their governments and their people only, BTC certainly brings opportunities for some peoples to generate income based on their efforts and that is something that must be considered.

[stompix]

Yes of course, with more than marketcap 100 billion USD, then the bitcoin is very calculated, even those figures are larger than the gross income of a third world country (Africa, Asia, and more).

Africa and Asia are not 3rd world countries.
Also I doubt that ou can consider South Africa or Japan 3rd world.

Secondary your comparing apples with donkeys.
It makes no sense comparing the annual gdp of a country with the bitcoin market cap.
To make a real comparison , although even this one is a bit far fetched you would have to consider the money supply of that country.

Yes of course, make the last official State legal bitcoin provides convenience and subsidies for mining bitcoin, then the economy will improve. If we compared to coal mining, mining bitcoin more profitable.

Oh , bright idea.
Lets provide subsidies for mining.
And people were so angry when the governments were bailing out banks.

And btw, what kind of shovel you use to mine bitcoins? The same one that you use for coal?
I have the impression you don;t have a clue about how mining works.

[ASHLIUSZ]

This is so irrelevant. Why shall bitcoin improve the economic conditions of a region?

I don't see your point in asking this. Bitcoin is only a financial tool.

Of course bitcoin can improve the economy condition because it give people chance to get second resource.  It also can move the wealth inside the country

A country's economy can get better because people in that country use bitcoin for their work. So it makes their economy better. So it affects the country indirectly #imo

Country's economy cannot be improved by bitcoin, but this will help to grow to certain extent through the inflow of cash caused through the bitcoin usage by the people of the country. But now Japan seems to be the one that's​ gonna get benefited big because of legalizing.

[frowsiter]

Don't really think so. How can it help as bitcoin is just virtual and it is being traded over the internet. Money is not being used for nations development. The economy completely depends on how people are investing their taxes in the government and its project. Bitcoin is more or less being used by person to person for their own growth. This wouldn't even move leaf of a tree. Lol. Anyway the question is good and it must planned properly as the currency itself is decentralised and don't contribute in any economy.

[ekans45]

Bitcoin can improve a country's economy even if it is just a way to pay, or another currency to use which I think would not help in improving economy especially now that sometimes it can aid on tax evasion. Despite that, many people can earn big on bitcoins via investments but it can really bring harm to those remittance services because it is easier to send money with bitcoins rather than using remittance which is a source of tax collections of the government but still bitcoin can improve people's lives.

I also agree that it could. But the question is how a specific country will manage it? Because bitcoin is new for most of the people so the government may not legalized it because of the mass and anonymous transaction. It may be a huge factor on investment , cause the price of bitcoin is developing in depends on the sudden move on the market on its stock. But for me bitcoin has more boundaries and if the government will implement bitcoin on a more great way it can not just improve ones economy but the future itself.

[hurain]

Bitcoin will change the economy of the country on the grounds that especially the government must recognize bitcoin and after that citizens must join the bitcoin. I am sure the country will grow rapidly.

but i think it is already helping a country in improving the economy of a country. in fact bitcoin is providing opportunities to the people to earn money from trading, advertisement and from so many other sources and in this way it  is providing opportunities to people to make money and in this way they are improving the economy of their country.

[deisik]

Don't really think so. How can it help as bitcoin is just virtual and it is being traded over the internet. Money is not being used for nations development. The economy completely depends on how people are investing their taxes in the government and its project. Bitcoin is more or less being used by person to person for their own growth. This wouldn't even move leaf of a tree. Lol. Anyway the question is good and it must planned properly as the currency itself is decentralised and don't contribute in any economy

Bitcoin in its present state can hardly help the economy

It may in fact even hurt it (though this obviously depends on specific use cases). But we should still agree that Bitcoin, if anything, is a good experiment or test in respect to how currencies may evolve in the future. And I can't agree that being virtual (i.e. existing entirely in Internet or cyberspace) necessarily means useless. Most transactions are electronic anyway nowadays, so if something exists only "virtually", it can still be of great help if it really helps people with making purchases, finding jobs, and other activities or directly used as a payment for work done (e.g. signature campaigns here)

[megynacuna]

Since exchanges are in that country and they interchange monies it will eventually influence that economy because there will be foreign influx from wallets all over the world for them to cash out in their local currency thereby influencing it.

[Tyrantt]

Bitcoin helping the economy of the entire state, doubt it and probably not. But helping the economic situation of an individual, highly probably. Bitcoin helped me with the household economy for quite something.

[Pemburu1]

I do not think bitcoin can improve a country's economy.

But bitcoin can improve one's economy or individually.
Because bitcoin is a very dangerous investment.