Can bitcoin improve the economy of a country?

[Dainye_dyep]

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?

Maybe that matter occurs on those countries where using bitcoin has been already legalize and bitcoin is the new way for payment. But for those countries that have a small amount of bitcoin users we cannot say that it is really a fact. Usage of bitcoin allows the user to manage his money and carry out money easily because it is real handy and because of that, banks and remittance centers will loose its clients that will be a great effect in the economic rise specially for those countries where users secretly use bitcoin and has not yet been legalize.

[Colt81]

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?

Of course it can since bitcoin helps businessmen and normal people to make a revenue eaiser and make transaction/imvestment easier. It can make an alliance within the nation so everybody could be more optimistic in buliding and innovating the future.

[tsaroz]

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?

Of course it can since bitcoin helps businessmen and normal people to make a revenue eaiser and make transaction/imvestment easier. It can make an alliance within the nation so everybody could be more optimistic in buliding and innovating the future.

As bitcoin bypasses many fiat barriers, It can transform the least developed countries economy by bringing is unofficial foreign investment and the people in the rich countries benefits a tax-less profit.

[stompix]

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?

Of course it can since bitcoin helps businessmen and normal people to make a revenue eaiser and make transaction/imvestment easier. It can make an alliance within the nation so everybody could be more optimistic in buliding and innovating the future.

As bitcoin bypasses many fiat barriers, It can transform the least developed countries economy by bringing is unofficial foreign investment and the people in the rich countries benefits a tax-less profit.

And both sides of the story spell disaster for the economy.
Money flowing without control out of the country and rich people avoiding taxes.
Not so good for an economy. Just look what happens to other countries when money started flowing out.

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?

Of course it can since bitcoin helps businessmen and normal people to make a revenue eaiser and make transaction/imvestment easier. It can make an alliance within the nation so everybody could be more optimistic in buliding and innovating the future.

Alliance with a nation, building the future... quit smoking.
Bitcoin is a currency it's not its job to fly high the jolly roger or the star and crisps.

All that is the job of the people.
If the country lacks education bitcoin won;t be able to solve their economy.

[merchantofzeny]

Not bitcoin per se but the way it is used. In countries with a high dollar exchange, someone who manage to buy and hold even a few bits would get some fiat profit which can then be used for building a business, etc.

Also, if bitcoin facilitates movement of money from richer to poorer countries, than we can say bitcoin did help. Maybe people can freelance and get paid in bitcoins, maybe remittances or donations can be sent as bitcoins, etc.

[itsallpc]

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?

Yes,bitcoin has already improved the economy of many under developed countries.Liberland has already announced bitcoin as its national currency.People of nigeria have started using bitcoins more instead of their currency due to economic crisis.Iran is discussing to use bitcoin to bye pass US sanctions.Even more countries suffering from crisis are getting ready to accept bitcoin.Many workers are sending their money to africa from abroad via m-pesa in bitcoins with very low fee.

[Sled]

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?

Yes,bitcoin has already improved the economy of many under developed countries.Liberland has already announced bitcoin as its national currency.People of nigeria have started using bitcoins more instead of their currency due to economic crisis.Iran is discussing to use bitcoin to bye pass US sanctions.Even more countries suffering from crisis are getting ready to accept bitcoin.Many workers are sending their money to africa from abroad via m-pesa in bitcoins with very low fee.

Good thing to know, even i am a bitcoin user i didn't know things like that but now all i can say that bitcoin is now getting in touch with the real world and it slowly changing the financial system and also the world, after a few years or even months,  bitcoin will be the new face of money transfer and a lot of people will be glad to use it as a secured currency.

[Wesimon]

Bitcoin could not be a big help for a country, the Government has no benefit at all. But bitcoin could help people earn money which could help someone to potentially get rich. it can improve the distribution of wealth among the people, which in a way improves the economy. Countries that are corrupt does not benefit this, because they could not get any tax from the users. It benefit most the people for it allows them to ear money outside the system through selling their knowledge and time to the internet which allows them to get paid.

[faceoff97]

 Countries that are corrupt does not benefit this, because they could not get any tax from the users. It benefit most the people for it allows them to earn money outside the system through selling their knowledge and time to the internet which allows them to get paid.

[Bee Leb07]

Biggest problem for this in most countries would be tax, and how to collect it. Will they be greedy or they will be normal and use same amount that exchanges do with money transfer. This is something that need to get in debate when this is good for both sides then everything can be good.

I think it is a great way to stop corruption. And as you are saying that what will happen for the exchange rate, right? All will be in the people's hand. The exchanges rate will be the evidence. So that, the government cannot cheat to people. They don't have any chance to be greedy also.

If Bitcoin is going to the world's currency, then it surely can improve the economy of a country as well as the whole world. The people should use it more and make it the world's currency. Thus, a country's economy will improve from my perception.

[Rizky Aditya]

Not bitcoin per se but the way it is used. In countries with a high dollar exchange, someone who manage to buy and hold even a few bits would get some fiat profit which can then be used for building a business, etc.

Also, if bitcoin facilitates movement of money from richer to poorer countries, than we can say bitcoin did help. Maybe people can freelance and get paid in bitcoins, maybe remittances or donations can be sent as bitcoins, etc.

As my mate said it can be help like employer doing work though internet and getting pay though bitcoin. If people getting pay in bitcoin then it can easily effect positively the economy, people will start converting that bitcoin into local money. Where the use of money will increase government will decrease the prices or print too much money. So like that.

[investinator]

Not bitcoin per se but the way it is used. In countries with a high dollar exchange, someone who manage to buy and hold even a few bits would get some fiat profit which can then be used for building a business, etc.

Also, if bitcoin facilitates movement of money from richer to poorer countries, than we can say bitcoin did help. Maybe people can freelance and get paid in bitcoins, maybe remittances or donations can be sent as bitcoins, etc.

As my mate said it can be help like employer doing work though internet and getting pay though bitcoin. If people getting pay in bitcoin then it can easily effect positively the economy, people will start converting that bitcoin into local money. Where the use of money will increase government will decrease the prices or print too much money. So like that.

Employers can and do already pay for online work through traditional banking methods, they don't need bitcoin for this so I don't see how this is an argument on how bitcoin could improve the economy.

[mornabo]

Countries that are corrupt does not benefit this, because they could not get any tax from the users. It benefit most the people for it allows them to earn money outside the system through selling their knowledge and time to the internet which allows them to get paid.

True, I think if a country has a high level of corruption. Perhaps bitcoin adoption would have a negative impact on the country's economy. Because of course corruptors will feel facilitated to do money laundering, corruption, etc where bitcoin is very safe to do so

[mrayazgul]

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 because of the large number of users using bitcoin.

Bitcoin can not repair a country but bitcoin can improve one's economy.

Because bitcoin is a risky trade I think the state will not invest its money into bitcoin

If you move money, you are helping the system that it is moving within.  Spending money creates money in the sense that people and services that had not been in use prior to that transaction are now moving, in a sense.

[Gandam23]

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?

Obviously yes since it can make connection between businessmen easier which can help them to build more relationship and business that can improve the economy of a country.

[HashieNewb]

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?

Obviously yes since it can make connection between businessmen easier which can help them to build more relationship and business that can improve the economy of a country.

It could have a positive influence on the situations of the Economy since the people within various Countries need money in order to do certain things within their lives. If Bitcoin causes a bunch of Countries to get a bunch of money then that Country will be pretty good in a technical sense.

[Bagaji]

In as much as bitcoin has it's advantage, it is not free from disadvantages equally. I believe that the advent of Bitcoin or crypto currency can bring about improvement in the economies of countries like the improvement in the wealth of individuals in the country which will invariably affects the economy of the country positively . Although, bitcoin can equally course a problem for the country by way of increase in capital flight from one country to another or from underdeveloped to developed nation's in the world by corrupt individuals or organizations.

[Cazkys]

It can. It will cause some impact and will surely sway influence to the people. People will see this new alternative that is much better what the public and private sectors of money business can provide. They will see a system that is mostly free and will not likely rip them off so the government and private banks will have to compete with them. They will be forced to lower their fees and change their security to some extent to provide security to the people that people will be comfortable with. If ever Bitcoin may not improve the economy then it can surely influence it.

[Kronos21]

Bitcoin can not improve the economy. Bitcoin can stimulate consumer demand, but it is a very small percentage of the total state market. If this percentage starts to increase then people can choose for themselves a job online and it will lead to the fact that no one will work in the factories. What will happen to the economy of the state?

[skinomanl]

I think that bitcoin will be able to improve the economy of the country if it is taken as payment of salaries in many organizations. It will also be very convenient if you can pay in real life to buy through bitcoin.