Can bitcoin improve the economy of a country?

[azguard]

Yes, ofcourse. Bitcoin can definitely improve the economy of a country because of this reason. Because of bitcoin you can import a money into our country and that way could affect the price of our local money because the supply of our money will increase.

Nice example but for this local banks need to accept transfers in bitcoin, many bank dont allow this in some countries.
But this is nice example of how it could be used in way to increase one country economy and not just that.

[Theb]

Yes, ofcourse. Bitcoin can definitely improve the economy of a country because of this reason. Because of bitcoin you can import a money into our country and that way could affect the price of our local money because the supply of our money will increase.

Nice example but for this local banks need to accept transfers in bitcoin, many bank dont allow this in some countries.
But this is nice example of how it could be used in way to increase one country economy and not just that.

Having an influx of Bitcoin in another country does not instantly improve the economy of the country who receive the Bitcoin, it does not even increase the "supply of your money". In order for Bitcoin to improve the economy of a country it needs to see Bitcoin as a mode of payment not only by its local citizens but also the tourist of their country. With this kind of transaction we will definitely boost the economy of that country in terms of income for the government in the form of taxes.

[redsun114]

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.

That bitcoin will change the economic position of the country if the concerned government  recognize bitcoin and after that citizens must join the bitcoin. I am sure if a country adopts bitcoins then it will grow rapidly and prosperity and self sufficiency will definitely kiss the pace of that country.

Bitcoin has all the potential to support a country to grow as a fully saturated one.

[bitcoinvestor]

Obviously, Bitcoin system brings a good opportunity for every country if they have taken it seriously. When a single person can be able to make a profit from then he will be able to make change his living standard. his money will be circulated in the country's economy. so that it is a factor of making healthy of an economy.

Bitcoin and cryptocurrencies give new opportunity for every one to earn income. If there are many people who earn more income, the economic of the community is getting better, The more people have high income , the more economic activities in the country. When the economic activities are alive , it means the economic is getting better.

[Ifincom]

It can enhance the economy of a nation if the financial specialists in that nation spend bitcoin to make a few organizations that can enable individuals to have occupations and afterward put more in bitcoin with the goal that when its esteem value, it can fabricate more undertakings consequently more employments for the general population. It can help enhance the economy relying upon who holds the coin.

[BartS]

Bitcoin can not change the economy of the country. It's just money that you can pay off or earn it. To improve the economy, it is necessary to take action, and not to introduce a new currency.

A solid currency can in fact make a country or even the world more prosperous, when gold was used as the standard around the world we saw one of the biggest growth in investments in the world, because people know that their currency was stable, now that trade is based on the dollar and those dollar keep being printed as if they could print them forever governments are trying to get rid of their dollars as fast as possible.

As far as I know any country is limiting themeselves on printing more and more fiat currency as printing more may devalue or depreciate the fiat currency. It is really not a wise plan as the economy will fall from prices of commodities going up and the exchange rate going down your country will face a very bad recession. And the way how you think that Bitcoin will be the next gold in terms of investment I am hoping that it is true and it is now the time for us common people to become wealthy.

Exactly a currency that can be printed at will and that has no limit helps the government and those that are powerful and have connections with them, but it does not help anyone else, the people benefit by having a currency that cannot steal from them with the hidden tax of inflation, once we have money like that whether that is gold or bitcoin the prosperity of the world is going to go up.

[EddyGameta]

Bitcoin in a country can be a double-edged sword. on the one hand can increase the economy and purchasing power of individuals or groups then they also help to move the wheels of economy more. on the other hand the government doesn’t get income from tax which becomes one of their income sources moreover government can’t earn tax from bitcoin transaction.

[Eclipse26]

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?

Mostly the reason was because there are lot of users in one country. I believe that it can improve the economy of one country especially when the government accept it and legalized bitcoin. Also when we are going to used it well and we will not be greedy on it. Correct using of bitcoin and being united as a user bitcoin can make something that can improve our economy. We may build a club that will help for the financial of our country to make it into better.

[deisik]

Bitcoin can not change the economy of the country. It's just money that you can pay off or earn it. To improve the economy, it is necessary to take action, and not to introduce a new currency.

A solid currency can in fact make a country or even the world more prosperous, when gold was used as the standard around the world we saw one of the biggest growth in investments in the world, because people know that their currency was stable, now that trade is based on the dollar and those dollar keep being printed as if they could print them forever governments are trying to get rid of their dollars as fast as possible.

As far as I know any country is limiting themeselves on printing more and more fiat currency as printing more may devalue or depreciate the fiat currency. It is really not a wise plan as the economy will fall from prices of commodities going up and the exchange rate going down your country will face a very bad recession. And the way how you think that Bitcoin will be the next gold in terms of investment I am hoping that it is true and it is now the time for us common people to become wealthy.

Exactly a currency that can be printed at will and that has no limit helps the government and those that are powerful and have connections with them, but it does not help anyone else, the people benefit by having a currency that cannot steal from them with the hidden tax of inflation, once we have money like that whether that is gold or bitcoin the prosperity of the world is going to go up

If it were so, we would still be on gold now

But we ain't, and it is not someone's whimsy. You are certainly correct that printing excessive amounts of fiat helps government and those powerful people to become wealthier while making ordinary people poorer. But this is a heavy abuse of the power of fiat money. Fiat money has an advantage before gold (and cryptocurrencies, for that matter) in that it can be created as well as destroyed according to the requirements and needs of the economy. This is not the case with Bitcoin and the rest of the pack

[plaintiff77]

Yes. True that bitcoin can possibly improve country's economy. Like other currency, bitcoin could have iflation on exchange rates and this has great deal since bitcoin has bigger ratr than any other. If someday all things or transactions can be made through bitcoin, then it csn definitely dominate the economy of a country.

[Harlot]

Bitcoin can not change the economy of the country. It's just money that you can pay off or earn it. To improve the economy, it is necessary to take action, and not to introduce a new currency.

A solid currency can in fact make a country or even the world more prosperous, when gold was used as the standard around the world we saw one of the biggest growth in investments in the world, because people know that their currency was stable, now that trade is based on the dollar and those dollar keep being printed as if they could print them forever governments are trying to get rid of their dollars as fast as possible.

As far as I know any country is limiting themeselves on printing more and more fiat currency as printing more may devalue or depreciate the fiat currency. It is really not a wise plan as the economy will fall from prices of commodities going up and the exchange rate going down your country will face a very bad recession. And the way how you think that Bitcoin will be the next gold in terms of investment I am hoping that it is true and it is now the time for us common people to become wealthy.

Exactly a currency that can be printed at will and that has no limit helps the government and those that are powerful and have connections with them, but it does not help anyone else, the people benefit by having a currency that cannot steal from them with the hidden tax of inflation, once we have money like that whether that is gold or bitcoin the prosperity of the world is going to go up

If it were so, we would still be on gold now

But we ain't, and it is not someone's whimsy. You are certainly correct that printing excessive amounts of fiat helps government and those powerful people to become wealthier while making ordinary people poorer. But this is a heavy abuse of the power of fiat money. Fiat money has an advantage before gold (and cryptocurrencies, for that matter) in that it can be created as well as destroyed according to the requirements and needs of the economy. This is not the case with Bitcoin and the rest of the pack

The short term effect of printing more Fiat currency is good but like what I said it is on a short term which means it is only temporary. By printing more Fiat currency in your country you are only devaluing it as you are causing an over-supply of your own Fiat currency even if the demand is not going up.  Printing Fiat currency won't be a solution for a country who has a right mind, even United States are not printing more U.S. Dollars to pay of their debt. But the different thing about Bitcoin is that when someone receives Bitcoin as a source of income in your country it actually becomes part of an improvement for your country.

[betMaster]

If governments ever legalize it,since it is forbidden in some countries, bitcoin can really help rise up the economy a whole country. Cryptocurrency business need lots of workers to manage it and stats show the enormous number of people who work in cryptocurrency field around the world. It may provides lots of new jobs which help decrease unemployment and attracts important investors like the Arabian golf countries. It really can happen especially that bitcoin is now an international currency and it is the most used by people online.

[Gerharde]

For me as of this time or today's economy, bitcoins cant yet improve a nations economy. First since bitcoins are not yet recognized by governments it can't have a good support to have a foundation in the system. Also bitcoins user are very few at the moment and a great majority of people still doesn’t know anything about bitcoins. But we don’t know in years to come and once bitcoins are more popular it might start affecting a country’s economy.

[ghost424]

Maybe you mean that one country has too many bitcoin user's and also use this as a currency to pay for something in the real world. I guess it will depend on how the population will use this cryptocurrency. If they are all knowledgeable, they can teach others who have not known bitcoin yet. In line with this, they can also further more study on how bitcoin will affect the country if they changed their existing currency to cryptocurrency.

For me, if they changed it to cryptocurrency. They may have a hard time trading from other countries who have not yet known bitcoin. Maybe they can teach other's about this.

[Fesatmas]

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?

It could be improve the economics of a contries when they legalize bitcoin. If they make good use of it will be able to improve the economy of the countries. Currently many countries are accepting bitcoins but I have not heard of any countries whose economies are increasing when they legalizing bitcoin.

[btcprospecter]

Is it not more so the users that accept bitcoin than the countries? It has the potential and power to change economic status of some countries but only if done right unfortunately we will still have the problems we have with fiat as is some have vast amounts while others have relatively little. We have countless countries around the world where their currency is almost worthless these are the countries it could really change.

[Mustion]

Yes it can, but that country's economics should depends much Bitcoin, like Bitcoin is the main exchanging currency, so bitcoin will create more employee by guys who worked at home. They will have money to pay for their needs, buy things they want so it's increasing the GDP which affect much to the economy of a country.

[dmbragin]

Bitcoin can enhance the economic climate of place if the citizens of such a particular country delivers solutions which will serve as international trade I.e earning bitcoin and exchanging it to fiat, this will boasts their financial system and enhance the purchasing power of the people in that place. Competent folks in that certain country will also be gainfully used by supplying their expertise exactly where necessary online globally and paid out with bitcoin.

[Betwrong]

Technically, yes. Bitcoin helps other individual who does not have a job to earn some money, sometimes a lot more than those individuals who has jobs. Thus, making more opportunity for individuals to build a business making other jobless person have more chance to have one. I believe that what I think of now is just a portion of what bitcoin can really do to improve an economy. For now, I see as a chance for the needy to earn and improve life.

I agree. If a country has poor/weak economy there are a lot of jobless people in that country and with these conditions the situation becomes worse every day. It can indeed help the country a lot if its citizens start to work internationally, but rather than going to another country, for which they normally don't have enough money, they can work from their homes and be paid with Bitcoins for their job.

[super5star]

If a nation that has gained bitcoin means a region that will boost its economic system, I hope all nations will accept the existence of bitcoin proper now.

I am hoping the same and there are maximum chances that in the coming decade, bitcoin will be highly popular all around the world. Bitcoin are at present ruling the hearts of masses and they are not going to be ever removed from the world. Those nations that are sensible and want to be the best economy states in the world have already accepted bitcoin.