Can bitcoin improve the economy of a country?

[HasHe]

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?

The main reason for countries accepting bitcoin is the ever growing demand for bitcoin all over the world.If they refuse to accept it,then they have to be ready to loose the revenues from bitcoin earnings.No country would be ready to loose its revenue.Each and every country,whether developed or under developed have to accept bitcoin.Otherwise,they would have to remain left alone far away from main stream of development.

[Card]

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.

Yes I also think like that.
Very difficult I think can help the country's economy.
But helping one's economy could be if we are good at using bitcoin.

[black-lagoon]

Of course bitcoin can help improve the economy of a country, because I've seen a lot in this community they've made bitcoin as an income and even a full-time job for them. Indirectly they have helped improve the economy of the country even someone unemployed has a good income from bitcoin, for them the reason is only one because of the very high bitcoin prices that make their income from bitcoin for the better.

[zedicus]

Yes i think if the government it self and all people under their concern will use bitcoins and put tax on it because thats the only way people and the government can raise its economical status by putting and collecting tax

[Proton2233]

Of course bitcoin can help improve the economy of a country, because I've seen a lot in this community they've made bitcoin as an income and even a full-time job for them. Indirectly they have helped improve the economy of the country even someone unemployed has a good income from bitcoin, for them the reason is only one because of the very high bitcoin prices that make their income from bitcoin for the better.

The fact that people make money on the Internet does not help the economic development of the country. Moreover, these amounts are not taxable and therefore they have a negative impact on the economy. It is for this reason the governments of all countries are grappling with a turnover of bitcoins.

[gracia0023]

Maybe not, although many user of bitcoin in one country i think bitcoin cannot improve the economy of one country as long the bitcoin is not recognize as a legal currency in one country it can't help the growth production of economy. Notice that bitcoin is a virtual currency not a fiat although they use bitcoin in buying stuff and necessary need but it's value is convertible to fiat that use in buying anything.

[Sled]

Of course bitcoin can help improve the economy of a country, because I've seen a lot in this community they've made bitcoin as an income and even a full-time job for them. Indirectly they have helped improve the economy of the country even someone unemployed has a good income from bitcoin, for them the reason is only one because of the very high bitcoin prices that make their income from bitcoin for the better.

The fact that people make money on the Internet does not help the economic development of the country. Moreover, these amounts are not taxable and therefore they have a negative impact on the economy. It is for this reason the governments of all countries are grappling with a turnover of bitcoins.

Bitcoin helps the economic development because if the people make money in the internet then in the end of the day, they will cash it out and spend their money on buying things that they need and want and in that way, they are capable to exchange their money to something and their money will be added to the income of the country and if the country makes money from sales or taxes then it has been added to their progress in economic development.

[deisik]

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?

The main reason for countries accepting bitcoin is the ever growing demand for bitcoin all over the world.If they refuse to accept it,then they have to be ready to loose the revenues from bitcoin earnings.No country would be ready to loose its revenue.Each and every country,whether developed or under developed have to accept bitcoin.Otherwise,they would have to remain left alone far away from main stream of development.

What revenues are they going to lose?

If you refer to Bitcoin taxes, people who are not going to pay these taxes won't pay them anyway, whether Bitcoin is regulated or not. Aside from that, you still have to pay an income tax no matter what's the source of this income (unless you are engaged in drugs and similar illegal things). If Bitcoin is used for payments, merchants still have to pay something like a VAT tax (which they pass on the buyers by including it in the price)

[gabmen]

Yes i think if the government it self and all people under their concern will use bitcoins and put tax on it because thats the only way people and the government can raise its economical status by putting and collecting tax

How does one country's economy move? It's by the taxes that people pay mostly and btc as we all know is not yet tax free. Though it may affect the economy by providing people with means of earning money to spend on but in gemeral terms, i don't think bitcoin is recognized yet to affect the economy. Let's see for those countries that adopted btc already

[ClaraLuV]

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.

The amount of money coming into from a particular country is really low and vice versa so it is hard to determine the economic influence of bitcoin which could improve any economic situation,so i would say no,it wont make any difference.

[Gastotade]

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.

The amount of money coming into from a particular country is really low and vice versa so it is hard to determine the economic influence of bitcoin which could improve any economic situation,so i would say no,it wont make any difference.

It will help in ones economy if its accepted by the country and if there will be a development in business establishments that will adopt btc as payment. Btc is indeed a economical helpful.

[panganib999]

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 improve the economy of the country in the way of the regulating the bitcoin in that country and the using of the bitcoin will became natural if many of stablishment are going to accept the bitcoin because every local provider of the bitcoin can increase the price of the bitcoin or can arbitrage that in the way that the supply of that local bitcoin company is became lessen efficiently.

[conected]

Of course bitcoin can help improve the economy of a country, because I've seen a lot in this community they've made bitcoin as an income and even a full-time job for them. Indirectly they have helped improve the economy of the country even someone unemployed has a good income from bitcoin, for them the reason is only one because of the very high bitcoin prices that make their income from bitcoin for the better.

The fact that people make money on the Internet does not help the economic development of the country. Moreover, these amounts are not taxable and therefore they have a negative impact on the economy. It is for this reason the governments of all countries are grappling with a turnover of bitcoins.

Bitcoin helps the economic development because if the people make money in the internet then in the end of the day, they will cash it out and spend their money on buying things that they need and want and in that way, they are capable to exchange their money to something and their money will be added to the income of the country and if the country makes money from sales or taxes then it has been added to their progress in economic development.

Personally, I think bitcoin only helps improve the economy for those who care and use, it is very difficult to improve the economy for a country because the first reason is that the government does not accept it, so bitcoin will not be taxed, that makes the country unable to make a profit from it resulting in the economy also not improving. In addition, Bitcoin is not too popular and many people do not know it, 1 or 100 people earn bitcoin also can not improve the economy of a country

[Vishnu.Reang]

Right now, Bitcoin is not that big to create such an influence on the economy. But I hope that in the future that will become a reality. Even now, the Bitcoin usage has resulted in an increase in tax revenues and creation of new jobs, however small that might be.

[EdenHazard]

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.

that is true ... where $1,000 monthly income considered as low amount to earn for some people , but when you go in bitcoin for other people in other side of world earned that $1,000 are more than enough , bitcoin in this case completely make things easier.

to do trade internationally and get paid high through bitcoin , it is a wonderful thing indeed.

[Colt22]

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.

Well you are right that in improvement of a country government is paying a good role but we cant forget that no doubt that bitcoin can play a substantial  role in changing the economy specially when the use becomes legitimate , in a since that , there is a recognition in every state of every government body honoring its existence  . the raising prices of bitcoin is now increasing and its giving good benefit to a lot of bank, traders  and investors so I guess its truly improving our country economic

[GoodLuck2]

Of course bitcoin can help improve the economy of a country, because I've seen a lot in this community they've made bitcoin as an income and even a full-time job for them. Indirectly they have helped improve the economy of the country even someone unemployed has a good income from bitcoin, for them the reason is only one because of the very high bitcoin prices that make their income from bitcoin for the better.

The fact that people make money on the Internet does not help the economic development of the country. Moreover, these amounts are not taxable and therefore they have a negative impact on the economy. It is for this reason the governments of all countries are grappling with a turnover of bitcoins.

Bitcoin helps the economic development because if the people make money in the internet then in the end of the day, they will cash it out and spend their money on buying things that they need and want and in that way, they are capable to exchange their money to something and their money will be added to the income of the country and if the country makes money from sales or taxes then it has been added to their progress in economic development.

Personally, I think bitcoin only helps improve the economy for those who care and use, it is very difficult to improve the economy for a country because the first reason is that the government does not accept it, so bitcoin will not be taxed, that makes the country unable to make a profit from it resulting in the economy also not improving. In addition, Bitcoin is not too popular and many people do not know it, 1 or 100 people earn bitcoin also can not improve the economy of a country

That is possible bitcoin will improve the economy of a country ,in those countries who has unemployment,  bitcoin can give opportunity to earn money that's way the economy of a country will be improve and those countries do not accept bitcoin that is a big problem if these all countries accept bitcoin their countries economy will be goes to improving in the shape of get taxes so all countries has to accept bitcoin this way its countries will more improving because unemployed people will earn money from bitcoin , and more those peoples has already earn money from bitcoin they has also improve the economy of a country in case of that if they earn those money they will spend in their country and in this case his country will improve economy.

[zeze18]

Maybe for now function of bitcoin can not be utilized by all parties either from society or government, but of course along with its development one day all society can use it and can feel benefits so big.
And of course the role of bitcoin will be helpful, improving the country's economy if country has successfully adopted bitcoin, perhaps one of income taxes applied to bitcoin is certainly a good source of foreign exchange for the country.

[Quietman]

Since bitcoin is anonymous and the government does not have control with bitcoin it cannot implement tax in bitcoin as well as with the people who earn through bitcoin. If bitcoin would be legalize in a country this would probably help the economy of a certain country to improve and grow fast.

[jems]

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 maybe happen in future because bitcoin users spread the good news how bitcoin works and many country accept bitcoin like here in Philippines the  government control bitcoin its a big possibility to bitcoin control our economy in future