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justdimin
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September 04, 2017, 09:07:08 AM |
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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 possible that bitcoin can improve the economy of a country, you just have to look at some countries that are financial hubs, those countries enjoy great prosperity because they manage a lot of money, if a country becomes a bitcoin financial hub then the prosperity for that country will be enormous since there is a big chance that an important part of the economy is going to move through bitcoin. what about the side effects that will occur in the country if they use and legalize bitcoin? of course there is always punishment when a country legalizes bitcoin in their country, of course everyone has seen the negative side of bitcoin, if bitcoin is really legalized there is certainly little problem with the amount of financial crime that will increase Don’t be so pessimistic. Everything has dark side and same is the case of bitcoins. Even your conventional currencies are used for money laundering and smuggling etc. all the corruption currently done is in the form of fiat. So please stop exaggerating this stupid thing that bitcoins are going to create problems for the state after legalization. |
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izumaki
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September 04, 2017, 09:29:33 AM |
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Bitcoin and other crypto currency helps to serve as good wealth distribution network among people of like minds, it helps to give the youth a chance that wasn't there at a time like this were the economy is really bad especially in Africa.
so Bitcoin is already saving lives as we speak.
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Mpamaegbu
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Activity: 2688
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Once a man, twice a child!
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September 04, 2017, 12:33:51 PM |
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Improving countries economy depends on government and people not in bitcoin. Bitcoin is just another form of currency and like other currency may it be gold, fiat or crypto, its useless in improving country economy if the government cant come up with projects to better their country.
I absolutely share in your sentiment here. A lot of people paint bitcoin larger than it is. Bitcoin this, bitcoin that, as if it were a kind of demigod. For crying out loud, bitcoin is just an asset of value like the conventional fiat or paper money. It isn't a magic wand to turn every bad situation into good. However, if the leadership of a country is good and technical it should be able to utilize this new technology which bitcoin affords for the betterment of its economy. |
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Kava
Sr. Member
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https://saturn.black
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September 04, 2017, 12:40:10 PM |
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Bitcoin can not improve the economy of the country. The economy depends on what the government is doing to improve it, and not what currency they use.
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pragna
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September 04, 2017, 01:00:38 PM |
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Yes it is. It can improve the economy of a country.
Country is economically improve at that time when its inhabitants improve by money. when money come to hand of people, their mind do clean work and when clean work done- country is economically developed. So it can do Bitcoin. People can do outside work and earn Bitcoin for their own and also their country. If they have large amount of money that prevent their poverty they will not do black work. It is important that govt can't influence in this currencies. Men not has to give any fees and there is no middle men that force to do any work. So people can easily do their work to earn bitcoin and that's why country can economically develop.
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Blitzboy
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September 04, 2017, 01:10:29 PM |
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Bitcoin can not improve the economy of the country. The economy depends on what the government is doing to improve it, and not what currency they use.
I totally agree with you. Bitcoin only benefits people who have bitcoin and individuals but it can not improve the country situation. Everything depends on the government and their rules. If a country wants to become better, they need to have a good leader with good path. Bitcoin can only improve economic state of a person |
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Sidas_Crew669
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September 04, 2017, 01:29:34 PM |
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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 your right many countries today are accepting bitcoin as a virtual currency and some of them are accepting them as a legal currency because bitcoin can improve the economy of a country by letting them to use bitcoin as a source of income to help their family, and to provide their basic needs. It can change the economic of their people for they can sustain their living by doing activities here. Many were treating it us their job since they can earn more here than in their regular job. Indeed it surely will be provided many advantages for all those who do want to improve their lives, but it will never be good for the continuation of our lives for the future. For if everyone only works in the online world, it is definitely the main thing supporting all activities online will surely be left behind and finally production offline is getting lost. Then the existence of the thing's for sure we're going to be someone who is confused to fix it, because everything is already as a bad thing. |
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d4z
Newbie
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Activity: 35
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September 04, 2017, 01:48:17 PM |
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I definitely think so yes. It's also an "investment" of the country itself. Because I think in the long run more and more money will be online so this is already a step to the future
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iMark
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September 04, 2017, 02:50:05 PM |
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Of course, it is. Bitcoin can improve the economy of one country. We know that bitcoin's value is so high, and simply, if you have a high currency on your country, you may buy anything what the country need. Just simple as that. It can also improve the economy by having an individual a chance to earn bitcoin and resulting on GNP. To increase the country's economy.
Bitcoin is such as an economy driver, so many bitcoin-realated companies were created, bitcoin also offer lower transactions fee and barrier for export sector. So bitcoin has been give positive impact for economy of the country. lower transaction fee? can you feel the high fee on every transaction in bitcoin. you need at least 0.0003 btc to be able to trade in bitcoin or equivalent to $ 1.5 for each transaction, I think the fee is too expensive. even in some exchanges like bittrex and c-cex using a fee of more than 0.001 btc or about $ 4.5 for a single transaction, I think when people use transactions with bitcoin it will only make them poor because of the high fee lol |
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Casmania
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September 04, 2017, 03:29:36 PM |
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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 your right many countries today are accepting bitcoin as a virtual currency and some of them are accepting them as a legal currency because bitcoin can improve the economy of a country by letting them to use bitcoin as a source of income to help their family, and to provide their basic needs. It can change the economic of their people for they can sustain their living by doing activities here. Many were treating it us their job since they can earn more here than in their regular job. Indeed it surely will be provided many advantages for all those who do want to improve their lives, but it will never be good for the continuation of our lives for the future. For if everyone only works in the online world, it is definitely the main thing supporting all activities online will surely be left behind and finally production offline is getting lost. Then the existence of the thing's for sure we're going to be someone who is confused to fix it, because everything is already as a bad thing. I wouldn't say that it can "improve" but rather it can "change" a country's economy. Major aspects to be affected by wide usage of bitcoin is unemployment to those who are involved in physical money. People would also be consumed by the virtual world and can change the people's lifestyle offline. Also, transactions and means of currency may change and adjust to bitcoin's nature. In that way, bitcoin can really change a country's economy. |
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Potato Chips
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September 04, 2017, 03:37:49 PM
Last edit: September 04, 2017, 03:56:06 PM by Potato Chips |
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Of course, it is. Bitcoin can improve the economy of one country. We know that bitcoin's value is so high, and simply, if you have a high currency on your country, you may buy anything what the country need. Just simple as that. It can also improve the economy by having an individual a chance to earn bitcoin and resulting on GNP. To increase the country's economy.
Bitcoin is such as an economy driver, so many bitcoin-realated companies were created, bitcoin also offer lower transactions fee and barrier for export sector. So bitcoin has been give positive impact for economy of the country. lower transaction fee? can you feel the high fee on every transaction in bitcoin. you need at least 0.0003 btc to be able to trade in bitcoin or equivalent to $ 1.5 for each transaction, I think the fee is too expensive. even in some exchanges like bittrex and c-cex using a fee of more than 0.001 btc or about $ 4.5 for a single transaction, I think when people use transactions with bitcoin it will only make them poor because of the high fee lol yah the transaction fees are really high right now because the value of bitcoin itself is high. before the pump, i'm always paying $1 worth of miner fee but now it increased to $2 which is a let down since i frequently do bitcoin transaction. whats more if you are doing a business, i'm sure the customers especially the regular ones will complain. i don't know why bitcoin appears perfect to others when it still have its negative parts. it'll be nice if the amount of bitcoins in miner fees decreases as the value of bitcoin increases. i think this should be fixed first if we want more merchants on bitcoin |
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Chienna
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September 04, 2017, 03:56:01 PM |
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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?
For me, yes of course. Bitcoin can improve the economy of our country. We all know that the rate of a bitcoin is such a high value so that when it is converted into a fiat it may buy all things. We can afford to improve all the things that are expensive. We can help the poor people by donating some foods and shelter for them. I believe that the improvement of one person also the improvement of a country. We can make technologies more durable than before. Therefore, bitcoin can change the economy of one’s country. |
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planfox
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September 04, 2017, 04:10:03 PM |
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No, bitcoin can not improve the economy of the country because it is only an investment. This should be done by the government undertaking new actions to improve life in the country.
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jvdp
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September 04, 2017, 04:40:28 PM |
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No, bitcoin can not improve the economy of the country because it is only an investment. This should be done by the government undertaking new actions to improve life in the country.
Sorry you are wrong. By simply saying the price of bitcoin will improve the economy of every bitcoin users.so then it will improve the economy of their family. And then,it will reflect the society. Finally bitcoin will indirectly improve the economy of the country followed by the state. |
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geegaw
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September 04, 2017, 05:44:04 PM |
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No, bitcoin can not improve the economy of the country because it is only an investment. This should be done by the government undertaking new actions to improve life in the country.
Sorry you are wrong. By simply saying the price of bitcoin will improve the economy of every bitcoin users.so then it will improve the economy of their family. And then,it will reflect the society. Finally bitcoin will indirectly improve the economy of the country followed by the state. And you think anyone can also work with bitcoin, bitcoin can be said is a very new field and the number of successful people can not say is too high, many people who want to work and earn bitcoin but most of them do not know where to start and they also do not have the patience. The number of people trusting and using bitcoin is still low, so I believe that Bitcoin can not improve the economy of a country |
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deisik
Legendary
Offline
Activity: 3444
Merit: 1280
English ⬄ Russian Translation Services
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September 04, 2017, 07:01:53 PM |
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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?
For me, yes of course. Bitcoin can improve the economy of our country. We all know that the rate of a bitcoin is such a high value so that when it is converted into a fiat it may buy all things. We can afford to improve all the things that are expensive. We can help the poor people by donating some foods and shelter for them. I believe that the improvement of one person also the improvement of a country. We can make technologies more durable than before. Therefore, bitcoin can change the economy of one’s country That is not always the case For example, when someone robs someone else, the robber may turn out to be better off in the end (provided he doesn't get caught, of course), but does it mean there is an improvement in the economy of the whole country? I strongly doubt that. It is pretty much along the lines of the so-called parable of the broken window. Bitcoin may indeed make your life and the life of your family easier but that could come off at someone else's expense |
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cotton ball
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September 04, 2017, 07:10:05 PM |
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There is a great wall separating the interest between bitcoin and government, especially the capitalist country where bitcoin does not want to dispel anonymous and decentralized nature, this is a strong denial from any government (except Japan). In fact, if one party is willing to agree on certain conditions it will generate mutual benefits, bitcoin is able to reach everyone and have a sizeable market, this is a potential market for conventional business, and will automatically develop the economy, and country income.
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Zuilhsa
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September 04, 2017, 07:42:41 PM |
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Sure bitcoin helps in the economic growth of a country. If a country is bitcoin legalized and an individual in a family is in bitcoin then the whole family will be wealthier. Similarly if more people begin to invest then the whole country will be economically wealthier.
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Cocobrayy
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September 04, 2017, 08:14:37 PM |
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I do not think so, because bitcoin could pose a risk to the country's financial stability if adopted on a large scale. the state continues to monitor the digital currency and risks. If some people transact exclusively using digital currency.
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Rose119
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September 04, 2017, 08:35:53 PM |
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Sure bitcoin helps in the economic growth of a country. If a country is bitcoin legalized and an individual in a family is in bitcoin then the whole family will be wealthier. Similarly if more people begin to invest then the whole country will be economically wealthier.
I think you are right, if some of us can help bitcoin what more in a country, so if many people using the bitcoins in a country it will more helpful for the economic development. |
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