Can bitcoin improve the economy of a country?

[rickadone]

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

There is no doubt that a new technology always allows criminals to get away with their crimes in new forms, this is nothing new and bitcoin is not an exception but I think it is very obvious that bitcoin is going to be a net positive for society and this is why a lot of countries despite their objections to some of the activities being done in bitcoin have not banned it.

True. I think that Bitcoin can very much improve the economy of a country. But for this thing to be done at a larger scale, the Government of that country needs to take such sort of steps in order to improve the economy of itself as well as the people. Still Bitcoin is playing its part in a good way to make the economy stable.

[Mrsmants]

In my opinion, Bitcoin can improve the economic system of a place since it is an alternative way of electronic payment via the use of digital forex. Electronic payment tends to make it less complicated for men and women to buy or sell stuffs which includes the forex alone from a flat currency to Bitcoin. With the assist of Bitcoin as digital payment instrument, people in a region would have easier access in payments as a result circulating the income which will then lead to an overall economic system advancement. It is a easy financial principle that the much more funds circulates in a nation, the greater for its economic system.

[geegaw]

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?

definetly yes, bitcoin can improve the economy its because bitcoin is amazing, it can act as a payment system and at the same time it can do other cool things like you can earn thru them by selling or exchanging them and you can also mine them using a hardware or a software.  so many lives  now has been change because of bitcoin and bitcoin can give hope to our future.

thats true there are many advantages you can get from bitcoin like currency, investment, etc. but the main point, why bitcoin can change and improve the country's economy for the better is because bitcoin provides income and profit for its users. but to date I have not seen the bitcoin significantly alter a country's economy

If the users or the people in a particular country is gaining a lot of profit from bitcoin then it can be a huge help for the country to improve its economy because when the people are rich or they have a higher capability to spend money than the average expectation then they can help the country to get a better economy because the taxes and the income of each store will increase so the government will take the benefit from it.

If many people in a country work hard and earn more bitcoins, I believe bitcoin can improve the economy of that country as you say but really this is not possible. Bitcoin not too popular and many people still do not believe it, so many people in a country working with Bitcoin is not possible, and if they trust and work with bitcoin, they also do not have enough patience, success in bitcoin is not an easy thing. In short, Bitcoin can improve the economy of a country is correct but the possibility of it becoming the truth is not high

[Monnt]

it brings change in a country. At least I see some mindful youths getting into bitcoin today, instead of standing on the streets as pickpockets and criminals, they get themselves computers and internet access to do something more useful and follow the right path.

Yes, Bitcoins are indeed improving the lives of many common people which ultimately lead to the better economy of the state. Economy becomes stable when there are more people employed than unemployed ones. Bitcoins are providing people regardless of their age opportunities of earning via their laptops sitting at home.

[Razick]

it brings change in a country. At least I see some mindful youths getting into bitcoin today, instead of standing on the streets as pickpockets and criminals, they get themselves computers and internet access to do something more useful and follow the right path.

Yes, Bitcoins are indeed improving the lives of many common people which ultimately lead to the better economy of the state. Economy becomes stable when there are more people employed than unemployed ones. Bitcoins are providing people regardless of their age opportunities of earning via their laptops sitting at home.

I think the ones most benefited by Bitcoin at this stage are those who work in second or third world countries which do not pay as much as first world ones. For example someone in Venezuela said anyone who makes $300 a month can live a good life. Well, there are signature campaigns that pay this much. I think working for Bitcoin is an amazing opportunity for people in these countries to make a good living.

[stompix]

Anyone that asks this question should look at India and others in financial crisis. When banks take a bath, it's Bitcoin to the rescue

And what has BTC solved in India?
Thousand of users paying extra for coins? Unable to use it on any shop as there is nobody accepting them?
Paying extra money for coins that were brought from outside the country, which means money left the Indian economy?Really, what has bitcoin rescued?

The main purpose of bitcoin has been ignored and people flocked to it treating it like gold.
But gold they paid two times more and gold that nobody wanted to exchange for bread.And instead of developing a network , a market place.... they hodl their coins.

Bitcoin is a way to transfer value, is not here to help countries that are run by idiots and is impossible to save such countries be it btc or eth or dogecoin.
It won't rain in sahara because you have bitcoins in your pocket.

No, BTC could have helped the indian people who where afraid of regulations.
But somehow they choose not to be rescued.

I think the ones most benefited by Bitcoin at this stage are those who work in second or third world countries which do not pay as much as first world ones. For example someone in Venezuela said anyone who makes $300 a month can live a good life. Well, there are signature campaigns that pay this much. I think working for Bitcoin is an amazing opportunity for people in these countries to make a good living.

For most people yeah , it's a way to survive.
But the thing about Venezuela... it's just that you can't bring in $ so easily. And nobody has $ to buy your coins there.
It'a a myth unfortunately.
With a totalitarian regime running amok I wouldn't want to have my name on bank transactions there.

[rizkyaza]

Bitcoin can improve the economy of a country, it is just not because it has a high value and the users using it but it can help the country's fiat if ever it will be in crisis. Bitcoin and other altcoins can be issued through digital blockchains so our fiat will be safe. Bitcoin may also change how the current fiat works, we may never know what the future has in store for bitcoin and other cryptocurrencies, they may be used permanently in transactions. Imagine a world without any hassle and struggles of worrying about going into the ATM to withdraw money it will all be done using some sort of technology(cards, phones just for transactions, etc.).

so so means with bitcoin can change the state of a country's economy? just understand me, it never occurred to me if bitcoin can be used as an alternative payment country, then I agree with your way of thinking this

[CoinSpeculator]

we will see in the future what result it. if some poor countries adapt to bitcoin and this technology, their economy will improve with bitcoin.

[ongels]

Yes, Its a big deal of sprouting bitcoin in our society,, We consider that a lot of unemployed people could earn money through it, and in other cases such as processing of payments makes the people works easier and leads to enhanced economic stability.. It also lessens poverty rate of a country through its huge impact in terms of financial growth of every users believing on it.

[adjudicator]

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 affect the economy of an country for some ways. If ever bitcoin will be able to make anyone rich, that one will surely buy a lot of things and as we all know. It will affect the economy because of the tax that is inserted to a certain product. The money that will be used will surely give good benefits to the economy of a certain country. Bitcoin can only affect the economy of a country if and only if bitcoin is being spent.

[Biggapp]

Yes it can. Any form of investment or trading can improve the economy of a country because the money circulates and not just being saved in an account or household.

Yes it can improve the economy of the country because a lot of people are now using bitcoin now it is the main source of income for the people. People are using bitcoin to make income and it is increasing the salaries of the people. People are able to earn and buy food for them and they are supporting the family so it is developing the economy of the country. The price of the bitcoin is increasing as the people use bitcoin and it will decrease the poverty as well.

[Senja Kemuning]

Yes of course, if properly utilized bitcoin certainly can be useful to improve the economic life of a country. remember, it is time now to move to a decentralized system as it proves to overcome inflation.

[bitcoinhack]

having access to money can improve it for ppl who do not have it

[Alphagog]

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 affect the economy of an country for some ways. If ever bitcoin will be able to make anyone rich, that one will surely buy a lot of things and as we all know. It will affect the economy because of the tax that is inserted to a certain product. The money that will be used will surely give good benefits to the economy of a certain country. Bitcoin can only affect the economy of a country if and only if bitcoin is being spent.

I agree with you in this regard. Bitcoins can play significant role in the betterment of economical state of the country. Of course if people are going to be rich with bitcoins, they are ultimately bringing more money into their country. These people will start new businesses which will increase investments in the state eventually stabilizing the economy.

[Webetcoins]

Yes true, with bitcoin then all the transaction becomes faster and cheaper, I'm sure if bitcoin applied legally then make improve the economy of a country.

Yes! I think on some point, bitcoin can play a substantial role in changing the economy because
the convenience that bitcoin offers to people makes them indemand. If a certain country accept, acknowledge and Legalize Bitcoin it can help a lot to attract more huge companies to venture and invest for business that Cryptocurrency can use such as onlineshop, healthcare, billing etc., it will definitely add demands for local jobs which the government can profit.

Yes it is true but only if the government will accept bitcoin and will make bitcoin legal currency a lot of benefits are there if government will make bitcoin legal so! Of course bitcoin can improve the economy of a country for this no requirements are asked to submit although there are just the simple transaction fees only and the taxes and the fees can improve the economy of a country.

[JohnBitCo]

Of course, and it already has. Anything that cause the positive and sometimes even the negative movement of money in an economy is an improvement. Crime is fine, and whatever base is used to move that money is fine. It is not about the source of the movement, the type of movement or the end destinations, it is about moving money and moving it more and more, any reason, any source, any time.

[Vera619]

In my age, I am really having a hard time knowing what affects the economy of a country. I tried reading some and what I have understand is that economic is most affected by employment, prices of goods that has something to do with consuming it and causes demand and supply process.

[E-shipper]

Bitcoin can not improve the economy of the country. This requires the actions of the authorities aimed at improving the economic situation in the country, and not the use of any currency.

[Rinder]

It may help improve as long the person wich use bitcoin fill the declaration saying he or she has bitcoins, besides those bitcoin and crypto are making the money to circulate no matter if you live in Usa, Europe or third world country, you will be able to acess the same value for bitcoin worldwide. The money into circulation can change anyone life anytime, crypto is full of opportunities, lets look at Japan, which legalized bitcoin, wonder how many companies had open already to support bitcoin and collect bitcoin for services.

[BartS]

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.

I disagree, bitcoin is a lot like gold, and in the era where the gold standard was well, the gold standard you saw the biggest growth in recorded history and it is not really a mystery, businessmen love stability and that is something that gold brought, so you could make business all over the world and you could know how much it was going to cost and the profits you were going to make, but that changed when governments cheated gold and their citizens, so in my opinion bitcoin can bring another golden age like that.