Bitcoin Forum
June 14, 2024, 10:24:43 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 [30] 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 ... 97 »
  Print  
Author Topic: Can bitcoin improve the economy of a country?  (Read 52242 times)
rodskee
Full Member
***
Online Online

Activity: 2408
Merit: 202


★Bitvest.io★ Play Plinko or Invest!


View Profile
August 12, 2017, 05:25:06 PM
 #581


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 both, more bitcoin user because the bitcoin now is famous the country the accepting bitcoin currency because the bitcoin help the economy of every country accepting the decentralized currency and bitcoin create jobs for the people know how to use online internet how to earn income using bitcoin.

deisik
Legendary
*
Offline Offline

Activity: 3458
Merit: 1280


English ⬄ Russian Translation Services


View Profile WWW
August 12, 2017, 05:49:09 PM
 #582

Bitcoin has the capacity to improve the economy of a country because base on the current market value of Bitcoin at $3740 there will be much more money in the hand of Bitcoin holders in the society which will invariably increase their purchasing power. Although It could lead to inflation in an economy but if control by the government the benefits will at the end of the day outweigh it effects on the economy.

Your post is full of misconceptions

First, if 1 Bitcoin is worth 3740 dollars, or even, 374 thousand dollars per coin, it won't change anything since you can't buy goods directly with it, to do that you would have to convert your bitcoins to fiat first (or some payment processing company should do that for you). And while you and a few others may in fact get these exchange rates, if this happens en masse, Bitcoin price will certainly crash, and nothing will be left of this imaginary purchasing power. Further, money as such doesn't create wealth (and Bitcoin is no different in this respect), so in no case Bitcoin "has the capacity to improve the economy of a country" (at least, not as it is now), and still less so because of its "current market value of Bitcoin at $3740". Hope this helps

MyIdeas
Sr. Member
****
Offline Offline

Activity: 734
Merit: 250


View Profile
August 13, 2017, 09:56:46 PM
 #583

Yes and of course, if all countries agree to make bitcoin as a financial system, then the state will benefit greatly from bitcoin. And now the stage country for legalize bitcoin.
you tell that it can improve the countr economy but you did not tell how it happen, let me tell you. When any country make bitcoin legalize in country then there is benefit to country but not much benefit to its users. Government cut huge amount of tax through you earning and benefits its economy and left you with less profit that is why I’m not in favor of government.
iMark
Sr. Member
****
Offline Offline

Activity: 1162
Merit: 251


View Profile
August 13, 2017, 11:04:45 PM
 #584


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 both, more bitcoin user because the bitcoin now is famous the country the accepting bitcoin currency because the bitcoin help the economy of every country accepting the decentralized currency and bitcoin create jobs for the people know how to use online internet how to earn income using bitcoin.
Lol I think just because the high price does not necessarily make the government accept and legalize bitcoin so easily lol. I want to ask which countries receive and legalize bitcoin just because bitcoin prices soar? Is there any news published on the internet, on television? You must have proof dude
Pattart
Hero Member
*****
Offline Offline

Activity: 1190
Merit: 500



View Profile
August 14, 2017, 12:52:06 AM
 #585


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 both, more bitcoin user because the bitcoin now is famous the country the accepting bitcoin currency because the bitcoin help the economy of every country accepting the decentralized currency and bitcoin create jobs for the people know how to use online internet how to earn income using bitcoin.
I am very happy if the government accepts and legalizes bitcoin but current circumstances and situations are not possible. In fact no country has accepted bitcoin as a virtual currency legally, in fact most of them prohibit the use of bitcoin, although bitcoin is very beneficial to the economy of society
GrayFullbuster
Full Member
***
Offline Offline

Activity: 658
Merit: 103



View Profile
August 14, 2017, 02:05:02 AM
 #586


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 both, more bitcoin user because the bitcoin now is famous the country the accepting bitcoin currency because the bitcoin help the economy of every country accepting the decentralized currency and bitcoin create jobs for the people know how to use online internet how to earn income using bitcoin.
I am very happy if the government accepts and legalizes bitcoin but current circumstances and situations are not possible. In fact no country has accepted bitcoin as a virtual currency legally, in fact most of them prohibit the use of bitcoin, although bitcoin is very beneficial to the economy of society

I am also happy if all of the government will accept and legalize the bitcoin.

rjbtc2017
Sr. Member
****
Offline Offline

Activity: 322
Merit: 252


View Profile
August 14, 2017, 03:06:11 AM
 #587


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?
It still depends. But as of now, this is not impossible, improving economy of a country is not feasible by using bitcoin alone. Economy of country improves not by just accepting bitcoins as a virtual currency, it depends on how the market moves, how the government takes the opportunity in bitcoin. Improving different Government systems and much more.
Bunsomjelican
Sr. Member
****
Offline Offline

Activity: 812
Merit: 251



View Profile
August 14, 2017, 03:28:18 AM
 #588


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 it is, Only the problem in the other they gave wrong meaning about in bitcoin for them it is a threat. But the truth is no, Like example the country of Russia before they banned bitcoin but after a time pass by they revoked it because they've became open minded unto it then they adapted the system of bitcoin because they knew it can help to their economy and other country like China, Japan, and others.
mornabo
Hero Member
*****
Offline Offline

Activity: 1148
Merit: 504



View Profile
August 14, 2017, 07:30:58 AM
 #589


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 is both. Bitcoin is popular indeed than any other cryptocurrency. Other country support bitcoin because of number of users. Upon increasing this number of users, it also brings income to lot of people by exchanging it to a local currency. Because of stable income provided by bitcoin, it decreases tje employment rate, hence improving its economical state
Of course because both of them, bitcoin users more and more and see bitcoin can make the economy of the people in the country for the better. Certainly the government in a country will begin to adopt bitcoin, and maybe they will apply certain conditions to bitcoin users
Dhaaaw
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
August 14, 2017, 07:44:21 AM
 #590

Oh well, i think that bitcoin is really bad for a country's economics but its really good for the people and thats two different things.
Cause right now the transactions, investements and any related action to bitcoin is neither controlled, regulated nor taxed by the governement and that's exactly what kills the economy.  Roll Eyes
Taki
Hero Member
*****
Offline Offline

Activity: 1078
Merit: 514


View Profile
August 14, 2017, 07:55:22 AM
 #591

It would be interesting to see a country ditch their currency and switch to Bitcoin completely.

It would need a lot of discipline to make this kind of change, but it would certainly attract a lot of attention! 
Of course the attention would be attracted. And many other countries would follow how the life in this country, which moved on bitcoin only, is going. I can imagine how some of them would laugh if bitcoin would pop. I think bitcoin can't grow in it's price forever and one day something new will replace it. So I think it is not a good idea to switch on bitcoin only, firstly it will attract a lot of changings and it is always the big stress as for economy as for people. Secondly there is no guarantees for successful end of this idea. I think it is an utopia to move on bitcoin only.
rizkyaza
Full Member
***
Offline Offline

Activity: 155
Merit: 100


View Profile
August 14, 2017, 08:52:04 AM
 #592

I think every country has different consideration in bitcoin rate, there is also a look in terms of price, but I think this is an international currency, if there are many countries that recognize the other countries will also recognize it, what if in The country has many users then it will easily be legal

And I think if it speaks economically then bitcoin may be able to change the economic state of a country's population because of the high bitcoin value then their income will also rise

▬▬▬▬▬  Goal Bonanza ◆ Football Betting Revolution  ▬▬▬▬▬
█ █         [Whitepaper] [Telegram] [Slack] [ANN Thread]         █ █
▬▬▬▬▬   TOKEN PRE-SALE ▶ Oct 1, 2017   ▬▬▬▬▬
deppil
Hero Member
*****
Offline Offline

Activity: 1008
Merit: 501



View Profile
August 14, 2017, 09:03:19 AM
 #593


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 is both. Bitcoin is popular indeed than any other cryptocurrency. Other country support bitcoin because of number of users. Upon increasing this number of users, it also brings income to lot of people by exchanging it to a local currency. Because of stable income provided by bitcoin, it decreases tje employment rate, hence improving its economical state
I think first the government will see the number of bitcoin users from their country. When the government was surprised by the number of bitcoin users in their country that are on the rise. I think the government will start thinking about how to control bitcoin so that it benefits the many people in their country

yunita
Member
**
Offline Offline

Activity: 152
Merit: 10


View Profile
August 14, 2017, 12:38:52 PM
 #594

What do you mean with many countries accept bitcoin as a virtual currency? Can you pay your taxes and fees with bitcoin? If not, would you call this countries accepting bitcoin as a currency?

If countries accept bitcoin as a currency, then it would be a legal currency, but so far I am not aware that any country declared it as that?

Probably the same intent that makes this topic bitcoin as a legal means of payment in the sense of legal use in that country
mrayazgul
Hero Member
*****
Offline Offline

Activity: 560
Merit: 500


View Profile
August 14, 2017, 12:56:03 PM
 #595

What do you mean with many countries accept bitcoin as a virtual currency? Can you pay your taxes and fees with bitcoin? If not, would you call this countries accepting bitcoin as a currency?

If countries accept bitcoin as a currency, then it would be a legal currency, but so far I am not aware that any country declared it as that?

Probably the same intent that makes this topic bitcoin as a legal means of payment in the sense of legal use in that country

Yes, bitcoin to improve the economy of the country needs to be  legalized by the government which in most of the case is ignored by the government. This way, instead of being helpful to the financial system of the country, it is sometimes used as a money laundry business of transferring illegal money to outside the country without any issues.
deisik
Legendary
*
Offline Offline

Activity: 3458
Merit: 1280


English ⬄ Russian Translation Services


View Profile WWW
August 14, 2017, 01:22:31 PM
 #596

What do you mean with many countries accept bitcoin as a virtual currency? Can you pay your taxes and fees with bitcoin? If not, would you call this countries accepting bitcoin as a currency?

If countries accept bitcoin as a currency, then it would be a legal currency, but so far I am not aware that any country declared it as that?

I don't know of any such country either

But this is not what is likely meant here (and elsewhere) by Bitcoin being accepted as a currency. When people say that Bitcoin is made into a legal currency, they typically mean that the local government accepts it as a foreign currency on equal terms with other such currencies like the US dollar, Euro or whatever. And while you still can't pay taxes with Bitcoin, it is still a dig deal nevertheless since it opens doors to Bitcoin being used on the same terms as major fiat currencies mentioned above

sheldonnnn
Sr. Member
****
Offline Offline

Activity: 420
Merit: 266



View Profile
August 14, 2017, 07:25:35 PM
 #597

I do not think so. The bitcoin can improve the economic position of an individual person, but not of the whole country. At least I'm talking about my own country. Here bitcoin is still illegal and many people do not know about it. So if bitcoin can improve the economy of the country, it is very insignificant.
dragonusa9
Hero Member
*****
Offline Offline

Activity: 756
Merit: 500


View Profile
August 14, 2017, 07:46:13 PM
 #598

its not like some country invest their own asset become bitcoin, so i dont really think that bitcoin can improve economy of country. and if goverment secretly money laundry, its hard to track on bitcoin.
if its just bunch of people, then it must be improved well. because bitcoin is new source of income for unemployed
deisik
Legendary
*
Offline Offline

Activity: 3458
Merit: 1280


English ⬄ Russian Translation Services


View Profile WWW
August 14, 2017, 07:46:55 PM
 #599

I do not think so. The bitcoin can improve the economic position of an individual person, but not of the whole country. At least I'm talking about my own country. Here bitcoin is still illegal and many people do not know about it. So if bitcoin can improve the economy of the country, it is very insignificant

I'm afraid this is not that straightforward

You can get better just by your neighbor getting worse. This may not sound very good and may in fact be despicable (especially if you deliberately go for that), but this is how things stand between many countries. So while Bitcoin may not be able to improve the economy of a country directly, it can still heavily undermine the economy of some other country. Bitcoin is a pyramid scheme (whether you like it or not), and if it grows too much and gets out of hand (think Btc-e here), it could certainly damage it. My point is that Bitcoin can be used as a sort of economic weapon to make smaller and weaker economies bleed while bigger and stronger ones suck on them

YTBitcoin
Hero Member
*****
Offline Offline

Activity: 686
Merit: 500


View Profile
August 14, 2017, 11:35:00 PM
 #600

What do you mean with many countries accept bitcoin as a virtual currency? Can you pay your taxes and fees with bitcoin? If not, would you call this countries accepting bitcoin as a currency?

If countries accept bitcoin as a currency, then it would be a legal currency, but so far I am not aware that any country declared it as that?

Probably the same intent that makes this topic bitcoin as a legal means of payment in the sense of legal use in that country
Yeah I will agree with this that it will never be accepted by any country. If it comes under control of any country then it will lose its value. Because that country will start making bitcoin and it will no grow anymore. We cannot thing like taxes that are used to build economy of a country. So, simply it can be said that bitcoin cannot improve economy of a country.
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 [30] 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 ... 97 »
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!