Can bitcoin improve the economy of a country?

[AnubisStar]

I think it could help the economy of a person as individual, but a country is something to much bigger and complex. But also we can think about oportunities or the benefits offered by the crypto currency as increase employment and learn about a new and interesting topic that will continue to be developed over time.

[websoftwareengineer]

Here in my country, I do not really think that bitcoin will improve our economy, Because first thing is that it is not acceptable to any bank and as of now there is no way that companies here will appreciate the value of bitcoins because they only focus on real cash.

[Seansky]

Well! Bitcoin is providing a lot of opportunities and it in improving the unemployment as well so for me bitcoin is there to solve a lot of issues it can improve the economy of a country as well. Using bitcoin will pay some transaction fees and the tax as well so it is participating in the progress of the economical country. The bitcoin price has a positive impact on the economical state of a country.

The fact that bitcoin is really meant to be used as a medium of payment proves that it doesnt really improve the economy of a country. For sure bitcoin solved unemployment issues for some but it has not solved it for all people. Actually when one uses bitcoin for transacting, tax is lessened and economy takes a loss from it little by little. Therefore, it doesnt give a positive impact on the economical state of a country at least that is what can be said for now.

[Laidence]

Now this is not nevertheless so common to use it on a huge scale in most of the nations around the world. I believe that right after some time  probably handful of many years this circumstance will be altered.

[deisik]

Well! Bitcoin is providing a lot of opportunities and it in improving the unemployment as well so for me bitcoin is there to solve a lot of issues it can improve the economy of a country as well. Using bitcoin will pay some transaction fees and the tax as well so it is participating in the progress of the economical country. The bitcoin price has a positive impact on the economical state of a country.

The fact that bitcoin is really meant to be used as a medium of payment proves that it doesnt really improve the economy of a country. For sure bitcoin solved unemployment issues for some but it has not solved it for all people. Actually when one uses bitcoin for transacting, tax is lessened and economy takes a loss from it little by little. Therefore, it doesnt give a positive impact on the economical state of a country at least that is what can be said for now

I massively disagree with this view

It is specifically because Bitcoin is not and cannot as of yet be used as a means of payment that it can't really help improve the economy of a country. If it were more efficient as a fiat currency particularly as a means of payment, it will be able to do just that since it would make real life transactions more efficient. Money is one of the biggest inventions of humanity (along with the invention of the wheel and “domesticating” fire). Without it we would be living in a really gloomy world full of suffering and pain. Therefore making money more efficient makes profound effect on any economy

[Black Angel]

If bitcoin is managed properly and legally by the state, of course many benefits will be obtained, bitcoin can be an alternative income for many people including citizens, it certainly can improve the country's economy.

[Cazkys]

In honest opinion Bitcoin can improve or should I say affect a nations economy, since bitcoin is slowly getting more popular not just to individual persons but also to private companies and corporations. Companies have already taken notice of the advantages of using bitcoins which is a digital currency to trade or transact reaching more customers or would be customers. Giving both the convenience of trading without experiencing the hassle of going through the bank.

[superplus]

should be able to change the bitcoin, the economic state of a person and his country, why is that because if the population of his living standard increases and has a fairly large income then indirectly will improve the state of the country's economy is a rough idea between bitcoin and the economy of its users

[christian07]

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?

if theres a money involve in earning of country like bitcoin i think yes the economy will change because of the money,in this world money is everything like life of a person,some of country already know bitcoin but not all,i think in the future of bitcoin this will go so popular in different country because of the conveniece here

[ThatChange]

If the government can regulate and control bitcoin, of course the bitcoin can improve the economy of a country. Many benefits if that happens, no administrative costs are required, although there is still transaction fees, and of course taxes from bitcoin transactions can improve the economy of a country.

[Aayushi]

The price of bitcoin hit more than $2000 in 2017. It can trade $754 according to coindesk data. It is the best way to treat unemployment to some extent but to the other way it is not accepted by banks too. It can be well undrustood
As bitcoin is not popular in here it is more difficult but the value is and the prices of bitcoin is increasing to a greater extent so in my point of view it will improve the economy of our country.

[SilverKan]

Until now I've never heard that there are countries that help the economy because bitcoin, if it can make someone rich maybe yes, but that does not mean help nationally.

[ekoice]

Today,many countries had started to accept and legalize bitcoin.It is not done for its high price.Mass adoption of bitcoin is taking place every where.Now,the number of bitcoin users have become more.If government still rejects bitcoin and does not legalize it,then it would have to get ready to face a huge loss in its tax revenue since bitcoin earnings could not be taxed if not legalized.So,some countries legalize and most countries regulate bitcoin by framing new rules.China and russia could be said as an example.Bitcoin provides a new earning opportunity to unemployed people and so it could indirectly help for the progress of a country's economy.

[Pejoh Asu]

Many opportunities that can be utilized with bitcoin, ingtlah that bitcoin users are globally so very good and can improve the country's economy. the state must set specifically on this so bitcoin can be useful.

[bn88]

I think it can't . Cause economy of a country is not base on Bitcoin . It base on income and GDP of that country. So bitcoin is in another world and it's not even related to economy of a country.

[Potchi]

Yes, definitely bitcoin can play a substantial role in changing the economy especially when its use becomes legitimate. Legitimate, in a sense that, there is recognition in every State of every government body honoring its existence. If it happens, it can pressure everyone in the banking industry to bring down costs for banking transactions in order to stay competitive.

Even though it is not fully recognised but if people know how to earn these bitcoins then surely that country economy will be improved indirectly. Because most of the people will be earning some extra income during their free time and it will automatically improve their financial and it will add to a country economy as well.

Well i can say that somehow bitcoin will help to improve the economy of a certain country as long as people continue to recognize and use bitcoin especially those unemployed people, bitcoin will serve as an extra income to them or will serve as an earning for their living and when they spend and their money circulates into the economy, yesbthey can help.

[BartS]

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.

Bitcoins are meant to be made legal before they can benefit any country economically. We need to put pressure in a positive way on our governments to make these brilliant coins legal in order to give public good deal of freedom for using their money. Bitcoins have potential to increase the economy.

Bitcoin does not need to be made legal before it can offer benefits, if you are benefiting personally from bitcoin and then you are using part of that money to buy stuff where you live then you are stimulating the economy and by doing such a thing everybody wins, you get products and services that you need, the ones that bought from get your money and at the same time they can use that money for their benefit too.

[AjithBtc]

Bitcoin has the ability to improve the economy of the country. As a whole the number of users contributing to the same is found less compared to the fiat users. This makes it give a sustained governance and the fluctuations happening with bitcoin will not make a big impact over the economy.

[roll on]

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?

Probably both yes,because there are some countries legalized Bitcoin in their country because they saw the benefit of it eventhough it is decentralized and eventhough there is a posibility that it can cause bankrupcy on their Central Banks.Bitcoin can change one country's economyif their country invest more on Bitcoin because if you are a user only and no investment at all the Bitcoin probably might come to an end.

[Polar91]

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 the answer for your question will be both since the perception of a certain country especially its government is that bitcoin's price rate is really high that a massive number of bitcoin users gaining an earning which is big can help to rise up the economy of that certain country since there is a large qunatity and amount of income that is getting inside the economic sector.