Can bitcoin improve the economy of a country?

[yohan09]

I think if a country take advantage of the potentials of Bitcoin, it can help the economy of a country.  Simply by legalizing Bitcoin or acknowledging it as money and  encourage Bitcoin start-ups to start, it may attract lots of company and investors to venture a business such as exchanges or online shops based in its country.  The government then can earn from taxes thus increasing the country revenue which can be use to enhance and improve the countries economy.

I totally agree with you my friend, it also gives  a chance / opportunity to jobless individual to dig on it , In fact some people are expanding their levels in dealing with bitcoins because in an instant you will be a millionaire if the flow goes by are straight forward, The more money you've got the better things may pop up to spend, money constantly circulate, the more taxes of government will earn, and this taxes could be useful in establishing projects, infrastructures, and road widening programs. Economy finally rise..

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[Mr. Legendaris]

Can, give freedom to citizens to develop bitcoin then the country's economy will improve because of using bitcoin. it is time for the government to give specific rules about bitcoin so it can be more useful.

[Streamlink]

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.

Bitcoins are not just currency; they are mode of investments and earning as well. Bitcoins indeed all alone cannot improve the economy of a state until and unless government is not actively working to provide people with jobs. Up to some extent, bitcoins can improve economy but not too much.

[fiomcorka]

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.

Truly said. The economy of country depends on the stability and resources which they own. I think Bitcoin will play a major role in this aspect. It won’t be affecting the economy directly. But somewhat indirectly, it will be raising the level of Economic stability of that country by giving a lot of profit to the people of that country.

[Ngewex Yuk]

The answer of course can be, this is very depend on the state policy, if country want to arrange specially bitcoin for example tax rules, it is certain that bitcoin can improve state economy.

[deisik]

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

It seems that you miss an important aspect of Bitcoin

As well as of other cryptocurrencies, for that matter. Namely, that Bitcoin is essentially a zero-sum game. What does it mean? It basically means that when you earn profits, which you can then spend to "buy stuff" thereby allegedly "stimulating the economy", someone else necessarily has to lose, which means that they can't buy some other stuff and thus can't stimulate the economy on their own. So the net effect is effectively null and void, while your whole point is mostly false and untenable

[BlueStackz]

Bitcoin is very useful as a new stream of investment, with proper regulation. After all, it can destroy the national currency, and the economy is unlikely to raise, tax is not taxed, but people's livelihood will rise.

Bitcoins are great in giving people new job opportunities and turning unemployed people into the useful characters of the society but I don’t think so they are going to destroy national currency in any way. Bitcoins are meant to be used internationally by everyone not to be made national currency.

Bitcoins are created to tie all the nations at one platform. They are not the property of any individual or a state, so they can’t be used as a national currency by any country. Bitcoins have been helping masses in achieving their dreams of being rich and I strongly believe that many more people will be made millionaires by bitcoins.

[Therly]

It would get a long time for bitcoin to boost any country's economic system. Knowing the simple fact that bitcoin 's price tag fluctuating up and down ,it would be a main danger for any region to acknowledge bitcoin simply because of the recession all more than the world,also not all nations around the world have numerous bitcoin customers so that may possibly not be the explanation to settle for bitcoin as a currency.Last but not least,Bitcoin's price may well be substantial but its steadiness is what issues to an country's economic climate.

[darewaller]

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.

Bitcoins are not just currency; they are mode of investments and earning as well. Bitcoins indeed all alone cannot improve the economy of a state until and unless government is not actively working to provide people with jobs. Up to some extent, bitcoins can improve economy but not too much.

Bitcoin can surely improve the economy of a country. I think Bitcoin has very good potential of helping the individuals to improve their life and also earn a good amount of money. I think it is now in the hands of Government like how they will take up this thing and whether they will do any positive steps in order to promote this Bitcoin or not.

[Joriecoinbit]

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.

Bitcoins are not just currency; they are mode of investments and earning as well. Bitcoins indeed all alone cannot improve the economy of a state until and unless government is not actively working to provide people with jobs. Up to some extent, bitcoins can improve economy but not too much.

Bitcoin can surely improve the economy of a country. I think Bitcoin has very good potential of helping the individuals to improve their life and also earn a good amount of money. I think it is now in the hands of Government like how they will take up this thing and whether they will do any positive steps in order to promote this Bitcoin or not.

I think it could be,I think in the future bitcoin will improved and there are so many ways to used it. Bitcoin can also help the society to lowering the poverty rate if they earn bitcoin.It has a big impact not only in the countries will accept but also to the citizens.

[kevpantof]

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.

Indeed, all depends on governments in this regard. They need to be really concerned about the secure futures of the citizens and for that purpose; I believe and strongly support the idea of making bitcoins legal. Only the legalization of the bitcoins is going to push them for common use.

[BTCevo]

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.

Bitcoins are not just currency; they are mode of investments and earning as well. Bitcoins indeed all alone cannot improve the economy of a state until and unless government is not actively working to provide people with jobs. Up to some extent, bitcoins can improve economy but not too much.

Bitcoin can surely improve the economy of a country. I think Bitcoin has very good potential of helping the individuals to improve their life and also earn a good amount of money. I think it is now in the hands of Government like how they will take up this thing and whether they will do any positive steps in order to promote this Bitcoin or not.

How can bitcoin improve the economy of one country mean while their government never approve this thing? It id hard to say when you do not need to pay any taxes bit you can afford everything? Does government want to take this as mass killing machine? People can buy everything with their coin earned through bitcoin and everyonr accept that? For us it will be a good thing but how about the government?

[Hamstead]

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.

If that happens to bitcoin, then the government also could benefits on this.
Not only bitcoin can improved our economy but it could contribute a lot if it will happen that the government have take a share on it. But if not, then bitcoin have nothing to share with, that's why more countries are legalized this in order to earned some benefits.

[GeniusAko]

I think it is. Bitcoin can improve the economy of a country. Many people are now getting interested to the bitcoin because they became ware that the bitcoin is now very valuable.

[VeronAncient]

yes i think, if the country can use bitcoin very well.
maybe the will sent new regulation to people who use bitcoin, more tax, or government can earn by self.
and it can helping for decreasing unemployment people in some country if accept that

[CASPER_TEAM]

it can remove third-party services and its quite big benefit

[Mehedi72]

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?

By considering reputation of bitcoin,  of course bitcoin can  improve the economy of a country. We can see that jobless poor people and many uneducated people are using bitcoin and now they are able of overcome their financial problem. Thus proverty is reduced by bitcoin in a country. Furthermore bitcoin makes them worthy means bitcoin makes that country worthy. I think that, this example is enough to prove that bitcoin can improve the economy of a country...

[Sir Legend]

I think it is. Bitcoin can improve the economy of a country. Many people are now getting interested to the bitcoin because they became ware that the bitcoin is now very valuable.

Yes it is true, and the key is the government, everything must be clear rules, it is time the government made a special regulation about bitcoin so bitcoin can be useful to improve the welfare of the state.

[Nexus77]

I think it is. Bitcoin can improve the economy of a country. Many people are now getting interested to the bitcoin because they became ware that the bitcoin is now very valuable.

Yes it is true, and the key is the government, everything must be clear rules, it is time the government made a special regulation about bitcoin so bitcoin can be useful to improve the welfare of the state.

high bitcoin prices and if in that country many users of this btc will obviously make the country start will change. we see now the country that has allowed btc. like in japan or russia

[TheBTCAlex]

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?

Definitely not as a way of changing the countries' economy. Bitcoin is mainly supported for transactions in various countries due to its ever-increasing demand. If it would become the central currency, then banks would no longer be able to benefit, as bitcoin is totally anonymous and they could not charge any transaction fees on bitcoin due to its decentralized nature. Governments would also not be able to impose taxes on it for the same reason.

What I think the economy of a country would benefit from, is the implementation of blockchain and using a virtual 'fiat cryptocurrency', kind of what India is looking into at the moment. This would enhance security, yet keeping illegal activity from happening as this kind of crypto-currency will be able to be monitored by the government.
This would enhance the integrity of the countries economy by preventing unauthorized access and reduce 'currency-hacks'.