Can bitcoin improve the economy of a country?

[azguard]

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?

True, but on tge other side bitcoin was banned in their country with no certain reason maybe they saw some vulnerable things that may lead some of the individuals of society may be involve, but I believe bitcoin will contribute a lot in the sense that it provides people enough and if youre lucky enough so much money to feed yourself.

Those countries that banned bitcoin banned cuz they didnt have anything to control it or to manipulate with price. Think why would they ban it in first place if they see it as something that will ruin there plans in total. Bitcoin is something that need the world and it was good that it was created so that everyone can use it and have it not to ban when someone see it like that.

[goldade]

Yes, I do believe Bitcoin can affect a country's economy positively, but it all depend on the people.
As an individual is the basic unit of a country, if Bitcoin is able to raise the standard of living of an individual who understand and uses Bitcoin, such an individual will contributes his to the development of his society, thereby afftecting the nation's economy positively.
As I mentioned earlier, it all depend on the people, the larger the number of people who are into Bitcoin, the better the economy of a country can be.

[deisik]

Yes, I do believe Bitcoin can affect a country's economy positively, but it all depend on the people.
As an individual is the basic unit of a country, if Bitcoin is able to raise the standard of living of an individual who understand and uses Bitcoin, such an individual will contributes his to the development of his society, thereby afftecting the nation's economy positively

There is some sense in this

And there can in fact be some positive effect if a few people get money via Bitcoin and then invest it in various startups that may actually help improve the economy of a country. But we shouldn't also forget about the negative effects of people earning via speculation. Speculation doesn't create anything of value on its own, all it does is redistribute money from one people to other people. It can be useful in real markets which have real economy backing them up (though this leaves much room for debate), but I simply can't fathom how Bitcoin speculation can be of any help, use, or benefit to the economy of a country or society at large. People are earning money but this money is taken from other people, it doesn't come about via wealth creation as it should

[corroze]

Of course bitcoin can improve a country, if in the country there are bitcoin users who have characteristics to build.
Yes, I agree with you, the more users bitcoin in the country, the greater the chance of being able to improve the economy in this country.

[Kevin77]

Yes i think bitcoin can improve our country because bitcoin give as a chance to have a extra income even if you are in home or busy . but many people didnt know the bitcoin so i think if all people know this bitcoin i think our country improve a little bit becuase many unemployed people it can be use bitcoin .

As a matter of fact, bitcoins are definitely helping unemployed people with jobs. There are many who have even left their jobs because they are more with bitcoins than their regular jobs. The only hurdles as you said is that many people are not still aware of this technology are afraid to give it a try. With little motivation and awareness, they will surely jump into this field.

I am foreseeing a world where everything will be available for bitcoin payments. In that case, bitcoin alone will be deciding the per capita of all country people, which is the state where bitcoin is directly linked to economy of every country.

[millgates]

Of course bitcoin can improve a country, if in the country there are bitcoin users who have characteristics to build.
Yes, I agree with you, the more users bitcoin in the country, the greater the chance of being able to improve the economy in this country.

Bitcoin is gives a lot of positive effects to the country,  for example Germany officially categorizing bitcoin as accounting unit, have gained more influence on the development of Bitcoin in Germany and earned another source of tax revenue. And also bitcoin is such as economy driver that makes a lot of new bitcoin related company was created.

[CODE200]

It can improve and harm a country's economy at the same time, both are possible and it depends on the people to know how to take advantage of it's benefits.
However I doubt if any country in the world has ever dedicated any percentage of their budget in to bitcoins, because if that happens price will explode but many countries I believe secretly are accumulating by spending their hidden/ dark/ unofficial budget.
Moreover I am unable to see and understand why organizations/ governments which only exist by being a centralized system could benefit from a decentralized monetary system such as bitcoin?

There is a great opportunities can give ahead by the system of bitcoin in terms of being a source of income to people and a better form of transaction on businesses and economical transaction. SO if we are going to analyze the future of a specific country in accordance to the development and progress of bitcoin it can definitely give a good future a head to a developing county for a better source of people of earning and transaction. But I also agree that the possible effect of bitcoin to ones country also depends on how will people will support bitcoin apart on its development and growth.

[Idrisu]

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?

Since bitcoin is changing financial fortune of individuals investors and enthusiast I think in multiplier it is also affecting the national economy of those individuals. Government is there to create employment, Security, provision of social sectors and health. Bitcoin and others cryptocurrency are there to help the governments fiance most of the foregoing governments need in future. The Third World countries can seriously benefits from bitcoin through capital flight and inflation.

[Kronos21]

It can improve and harm a country's economy at the same time, both are possible and it depends on the people to know how to take advantage of it's benefits.
However I doubt if any country in the world has ever dedicated any percentage of their budget in to bitcoins, because if that happens price will explode but many countries I believe secretly are accumulating by spending their hidden/ dark/ unofficial budget.
Moreover I am unable to see and understand why organizations/ governments which only exist by being a centralized system could benefit from a decentralized monetary system such as bitcoin?

There is a great opportunities can give ahead by the system of bitcoin in terms of being a source of income to people and a better form of transaction on businesses and economical transaction. SO if we are going to analyze the future of a specific country in accordance to the development and progress of bitcoin it can definitely give a good future a head to a developing county for a better source of people of earning and transaction. But I also agree that the possible effect of bitcoin to ones country also depends on how will people will support bitcoin apart on its development and growth.

Bitcoin can positively affect the economy of the country. Users do not pay taxes and pulling money out of the economy. Did the same thing now the dollar. All countries indirectly support the American economy. Bitcoin can replace the dollar as an investment currency in other countries, but this is still very far away.

[jimn]

Surely Bitcoin can improve the economy of a country, because it is offering additional income sources for so many people worldwide, and it facilitate for so many people from poor countries to trade online and sell their services and goods online.

[Andre#]

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?

What do you mean when you say that many countries accept bitcoin as a currency. I such examples do not know. Additionally, the state may not accept bitcoins. It can only do the banks and shops. They are usually private. What's the state?

You need know if the government do not accept Bitcoin, the people in this country will can't use Bitcoin, like India in the past did that.
However, with the potential and many rich man investing to cryptocurrency, they understand it can helps the economic their country growth.

[concept2]

Surely Bitcoin can improve the economy of a country, because it is offering additional income sources for so many people worldwide, and it facilitate for so many people from poor countries to trade online and sell their services and goods online.

How? Bitcoin can not do that there are many people try to say that bitcoin can help the country but how can it be possible when there is no country accept bitcoin. The government will only accept their own currency and bitcoin will surely destroy the whole nation's economic system. If the people use bitcoin, they will know how to avoid paying tax

[kpcian]

of course, it does.
every economy is based on an individual. so Bitcoin has some special features to get affluent within few months. when an individual can change his lifestyle, in the meantime, his or her family or community also get benefitted to some extent. so in this way, the economy is also getting benifitted day by day with the help of the user of Bitcoin. some people haven't any idea about the well-being of Bitcoin so they can spread out the negative side of Bitcoin. but as a student of economics, I can say certainly that Bitcoin can improve a country's economy.

[nrvasquez]

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 bitcoin will be legalized if a country really can see the benefits of it. Bitcoin can improve a country's economy? Yes it is true if they use it to invest outside their country and then the country gets foreign exchange. Cmiw

[Ayiranorea]

Surely Bitcoin can improve the economy of a country, because it is offering additional income sources for so many people worldwide, and it facilitate for so many people from poor countries to trade online and sell their services and goods online.

How? Bitcoin can not do that there are many people try to say that bitcoin can help the country but how can it be possible when there is no country accept bitcoin. The government will only accept their own currency and bitcoin will surely destroy the whole nation's economic system. If the people use bitcoin, they will know how to avoid paying tax

Whether the country legalize or not, more the usage more will be the inflow of money causing an increased amount of circulation. This cause growth in economy. When people are wealthy the economic situation of the particular country too will be in a good place. Tax might be said as an exception to cause a loss to the government.

[bestluck]

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?

True, but on tge other side bitcoin was banned in their country with no certain reason maybe they saw some vulnerable things that may lead some of the individuals of society may be involve, but I believe bitcoin will contribute a lot in the sense that it provides people enough and if youre lucky enough so much money to feed yourself.

Those countries that banned bitcoin banned cuz they didnt have anything to control it or to manipulate with price. Think why would they ban it in first place if they see it as something that will ruin there plans in total. Bitcoin is something that need the world and it was good that it was created so that everyone can use it and have it not to ban when someone see it like that.

Well you said very well, many country banned It because they do not have proper online system for deposit it and the thing is banks where not accepting it, but we need to make bitcoin legal in every country because there is many jobless people out there in every country and wait for some better thing for job I think bitcoin is the best job for jobless at homes.

[MMA]

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?

True, but on tge other side bitcoin was banned in their country with no certain reason maybe they saw some vulnerable things that may lead some of the individuals of society may be involve, but I believe bitcoin will contribute a lot in the sense that it provides people enough and if youre lucky enough so much money to feed yourself.

Those countries that banned bitcoin banned cuz they didnt have anything to control it or to manipulate with price. Think why would they ban it in first place if they see it as something that will ruin there plans in total. Bitcoin is something that need the world and it was good that it was created so that everyone can use it and have it not to ban when someone see it like that.

Well you said very well, many country banned It because they do not have proper online system for deposit it and the thing is banks where not accepting it, but we need to make bitcoin legal in every country because there is many jobless people out there in every country and wait for some better thing for job I think bitcoin is the best job for jobless at homes.

i do not think that in such advance time there may be a single country who do not have  online system, i think that internet is now present everywhere and therefore they have the opportunity to using bitcoin and get benefit from it. i think that bitcoin will become more popular as more and more time will pass.

[Magic Sarap]

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 thibk it depends on how an individual see what an improvemnt in economy is. Because there are companies that are earning profit from Bitcoin through advertisement and promotions and also there are people, especially users that are earning profit through investment, mining, campaigns and the likes. If you think the economy will improve if there will be many rich people, Bitcoin will help to improve the economy.

[Kittygalore]

Yes, but it depends on how people are using the bitcoin in their country.

[Valzzz005]

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 bitcoins can somehow improve the economy that is why there are accepting it. The value of it rises that makes their money grow and makes that ones who accepting that have their investment grow to because of those consumers who pay them bitcoins. And with their money growing can cause their business to grow to and that helps our economy to rise and to be rich too because of bitcoins it is like a give and take process to everyone.