Can bitcoin improve the economy of a country?

[eloymjb]

 i dont think so that bitcoin can help to improve the economy of a countries .. but in other side i think maybe help a little if too many people in the country use it .. and if it legalize to exchange in many store or in stock exchange .. bad opinion of my mind sorry hahaha

[Dudeperfect]

I think that bitcoin will be able to improve the economy of the country if it becomes accepted as payment in all places in the country. So more people will start paying with it and improve the financial situation in the country.

Well, in that case, countries will have to put indirect tax as there is no possibility of levying the direct tax on Bitcoin transactions. Since Bitcoin is an international currency, it will create more opportunities especially for the businesses around the world and it will bring the world closer financially. Thus when it comes to the growth of the country, there should be a practical tax structure. There are the people who have no issues to pay taxes but they don't want the governments to control their values.

[Vohoanghiep]

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?

Sure there is. When a country accepts Bitcoin as a currency to use, everything can be traded or traded using Bitcoin. In addition, Bitcoin will make the country's unemployment rate fall because there will be a lot of people involved in Bitcoin. In addition, Bitcoin will have a number of other effects, such as worldwide transactions, high security, privacy, etc., which will greatly impact on the country accepting it.

[ilovefeetsmell]

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! Bitcoin is a decentralized and government are not involve of this cryptocurrency. Bitcoin can replace the currency today and could be widely used in the world. Bitcoin is easy to earn, easy to mine, fast transaction. So, in that case, it probably improves the economy of a country. In every country, there are two types of currency, first is digitally based on technology and the other one is real money or fiat cash. The government doesn't need a proposal for those unemployed people because Bitcoin can do even a house mom, student, bystanders, and workers can make money for themselves.

[romero121]

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! Bitcoin is a decentralized and government are not involve of this cryptocurrency. Bitcoin can replace the currency today and could be widely used in the world. Bitcoin is easy to earn, easy to mine, fast transaction. So, in that case, it probably improves the economy of a country. In every country, there are two types of currency, first is digitally based on technology and the other one is real money or fiat cash. The government doesn't need a proposal for those unemployed people because Bitcoin can do even a house mom, student, bystanders, and workers can make money for themselves.

People should not consider this an money making asset. When one starts using bitcoin, easily understand good about bitcoin and this gradually help the user profit big. When it comes to growth in economy of a country, surely growth takes place because when individual growth takes place combined growth in country's economy occurs.

[Spontebob]

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 it will because of the chain reaction that will happen. As the one who does bitcoin earn a lot of money and become rich, he will be buying a lot of stuffs or make a business which ends up as an affection with the economy. Imagine a lot of people within a country doing this. It will surely affect the economy greatly due to the high income a citizen is recieving. Bitcoin can be done by anyone at all ages as long as they know what they are doing and they have their internet connection.

[gabbie2010]

Bitcoin can improve the economy of country if the citizens of such a particular country offers services which will serve as foreign exchange I.e earning bitcoin and exchanging it to fiat, this will boasts their economy and improve the purchasing power of the people in that country.
Skilled individuals in that particular country will also be gainfully employed by offering their skills where needed online globally and paid with bitcoin.

[mobilestrike]

Bitcoin can improve the economy of country if the citizens of such a particular country offers services which will serve as foreign exchange I.e earning bitcoin and exchanging it to fiat, this will boasts their economy and improve the purchasing power of the people in that country.
Skilled individuals in that particular country will also be gainfully employed by offering their skills where needed online globally and paid with bitcoin.

I strongly agree with you. Bitcoins have got the potential of stabilizing country’s economy by turning unemployed people into useful citizens. Yeah! Skillful people have an edge over those who have little knowledge of digital world. They can surely grab bitcoins by offering their services on foreign platforms eventually stabilizing their economy.

[wahb]

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 it will because of the chain reaction that will happen. As the one who does bitcoin earn a lot of money and become rich, he will be buying a lot of stuffs or make a business which ends up as an affection with the economy. Imagine a lot of people within a country doing this. It will surely affect the economy greatly due to the high income a citizen is recieving. Bitcoin can be done by anyone at all ages as long as they know what they are doing and they have their internet connection.

the economy of a country can only become improved when its citizens are not jobless. i think  that bitcoin is providing such kind of facilities through which bitcoin is providing jobs to them, therefore we can say that bitcoin is now really helping countries to improve their economy, because bitcoin is reducing unemployment.

[Eternu]

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 that it is in country interest to accept bitcoin, because from that they can take their share or tax. When people buy things with their bitcoins they leave that money in that country, and of course that is good for that country. I do not see why some country would not accept bitcoin as legal way of paying for things.

[carlerha]

Bitcoin can improve the economy of country if the citizens of such a particular country offers services which will serve as foreign exchange I.e earning bitcoin and exchanging it to fiat, this will boasts their economy and improve the purchasing power of the people in that country.
Skilled individuals in that particular country will also be gainfully employed by offering their skills where needed online globally and paid with bitcoin.

yes that is right and i am agree with you that bitcoin is providing opportunities to people to earn money and so in this respect we can say that bitcoin is really improving the economy of a country because bitcoin is increasing the per capital income of a person and therefore we can say that bitcoin is really improving the economy of a country.

[bncbnc]

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! Bitcoin is a decentralized and government are not involve of this cryptocurrency. Bitcoin can replace the currency today and could be widely used in the world. Bitcoin is easy to earn, easy to mine, fast transaction. So, in that case, it probably improves the economy of a country. In every country, there are two types of currency, first is digitally based on technology and the other one is real money or fiat cash. The government doesn't need a proposal for those unemployed people because Bitcoin can do even a house mom, student, bystanders, and workers can make money for themselves.

People should not consider this an money making asset. When one starts using bitcoin, easily understand good about bitcoin and this gradually help the user profit big. When it comes to growth in economy of a country, surely growth takes place because when individual growth takes place combined growth in country's economy occurs.

to me i think bitcoin  can improve the economy of a country, but i think this may only be possible if the user of that country are educated and my have the facilities because in most  of the places still there are people who do not know how to use computer and internet and such people cannot get benefit from bitcoin.

[deisik]

I think that bitcoin will be able to improve the economy of the country if it becomes accepted as payment in all places in the country. So more people will start paying with it and improve the financial situation in the country.

Well, in that case, countries will have to put indirect tax as there is no possibility of levying the direct tax on Bitcoin transactions. Since Bitcoin is an international currency, it will create more opportunities especially for the businesses around the world and it will bring the world closer financially. Thus when it comes to the growth of the country, there should be a practical tax structure. There are the people who have no issues to pay taxes but they don't want the governments to control their values.

I massively disagree with this approach

I don't think that taxing Bitcoin specifically is a good idea. How come? If Bitcoin is legally considered as a financial asset (sort of) used mostly for speculation, it could be taxed as other such assets (I guess it would be a capital gains tax). But if Bitcoin is legalized and actually used for buying goods and paying for services, i.e. used as a means of exchange, taxing it is meaningless since that would amount to taxing money which is a clueless and counterproductive idea. Governments do everything to make money more efficient (that's the reason why it emerged in the first place, i.e. to make trade more smooth and efficient) while taxing it would obviously work in the opposite direction

[Dudeperfect]

I think that bitcoin will be able to improve the economy of the country if it becomes accepted as payment in all places in the country. So more people will start paying with it and improve the financial situation in the country.

Well, in that case, countries will have to put indirect tax as there is no possibility of levying the direct tax on Bitcoin transactions. Since Bitcoin is an international currency, it will create more opportunities especially for the businesses around the world and it will bring the world closer financially. Thus when it comes to the growth of the country, there should be a practical tax structure. There are the people who have no issues to pay taxes but they don't want the governments to control their values.

I massively disagree with this approach

I don't think that taxing Bitcoin specifically is a good idea. How come? If Bitcoin is legally considered as a financial asset (sort of) used mostly for speculation, it could be taxed as other such assets (I guess it would be a capital gains tax). But if Bitcoin is legalized and actually used for buying goods and paying for services, i.e. used as a means of exchange, taxing it is meaningless since that would amount to taxing money which is a clueless and counterproductive idea. Governments do everything to make money more efficient (that's the reason why it emerged in the first place, i.e. to make trade more smooth and efficient) while taxing it would obviously work in the opposite direction

I am aware of the fact that governments love flowing economic wealth rather than holding values as a dead investment and that's why I used the word 'practical'. We know that it is near to impossible for governments to levy the tax on Bitcoin transaction and alternatively there is a possibility of double or even triple taxation which will be an obstacle in the flow of the wealth. The possibilities are endless but there is a real issue while finding and implementing a practical solution.

[hashtag101]

I don't think so. It only improves the economy of some groups that use bitcoin. how it can improve the economy of a country if in some countries bitcoin still not legitimately accepted as a method of payment, besides the government will have difficulty determining the tax from the use of bitcoin

Improve of economy by bitcoin is very easy if government take some action which is known as legal action like they provide to people funds by bitcoin they purchase some bitcoin and distribute them into economy so that's the way the can improve the economy because it is easy for bitcoin. So i will prefer that government should take some actions as well.

in fact bitcoin is providing opportunities to its people to make money from bitcoin, and specially to those people who do not have any day job so in this sense bitcoin is really improving the economy of a country.

I agree to that, bitcoin is now an opportunity for the people who do not have any kind of job because bitcoin can be a source of income as long as the person is determined to do it with his best. If the people who doesn't have any regular job and if they will be on bitcoin and earn much money then it will help to the country's economy because the tax of the items or things that they purchased will be added on the gross income of the country.

- Personally, I think Bitcoin only improve part of the economy, can not improve completely because Bitcoin really not too popular, only young people and working regularly on computer know bitcoin, and not all of them have enough patience and effort to make money with bitcoin, mostly they are depressed and give up after a short time. So I believe bitcoin only improves a very small part for the economy of a country, even it could be no

yes still now bitcoin can improve a small part of a country economy, because many people have no idea about bitcoin that how they will use it and some people are not know about it so i think the main reason is that many countries did not accept it their no knowldge of bitcoin. But i think if all the government see that it goes to development there has chance to it that they accept it their country.and then bitcoin improve the all part of the economy of a country.

I agree with you. Though bitcoin has a dicrete way of helping most of the countries including mine, that will definitely has a big name with many businesses or percentage that makes investors richer. However, it's not yet fully adopted to everybody. But maybe there's a big chance someday and I'm waiting for that.

In one day, if the community want Bitcoin can growth more than now, they need decisive helps Bitcoin can become to currency legal as Bitmixer closed their service for the future Bitcoin legal, fresh currency and not only for UG.

[lexamagic]

I think that bitcoin can not improve the economy of the whole country, but only the economy of individual people who competently interact with bitcoin. It's the same money as everyone else.

[evader11]

Yes, ofcourse. Bitcoin can definitely improve the economy of a country because of this reason. Because of bitcoin you can import a money into our country and that way could affect the price of our local money because the supply of our money will increase.

[tianglistrik]

Not for a country but if for individual i think it can. Seeing the very high bitcoin prices can make a nation's individual become rich. But if in thinking maybe a small part of a country can be rich thanks to bitcoin

[Clutch_Jones]

Giving a populace more options in how to conduct commerce is always going to have positives. Unfortunately, like with any form of currency, it will involve many negatives, too.

[Blackdeath]

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 bitcoin can uphold or improve one country's economy if that certain country is equipped to operate the usage of bitcoin. Also it may be possible if the users will use it as a fiat or type of payment for franchising into a certain establishment in terms of payment purposes. Because with the decentralized block chain, bitcoin is apart from banks and government so a certain permission from the users to allow their assets to be use to add up into the economic rate.