Can bitcoin improve the economy of a country?

[kutongcoin]

Yes it can but it depends how you understand improvement.Today many countries accept bitcoin as a virtual currency. I think it can improve the distribution of wealth among the people,which in a way improves the economy also it can improve and harm a country's economy depends on the people to know how to take advantage of its benefits.

[1714919980]

1714919980

[batang_bitcoin]

I don't think so.. I think bitcoin not improve the economy of a country but bitcoin help the economy the people who know about that.. bitcoin is really helpful for bitcoin user, but in my country too many people not to know about bitcoin, and the government has not recognized bitcoin as a vitrual currency..

I'll take the opposite side that bitcoin can help to improve the economy of a country in a case that where bitcoin has been treated as a remittance. And for a country where there are so many remittance it is just making the economy high again. This mainly gives a country to have another income from the money of the people outside the country so for me it's always a yes for bitcoin to improve a country's economy.

[futile-resistance]

Yes it is possible, Bitcoin can improve the country depending on its government if they were gonna use it for good. It was also a great way to buy goods through online using virtual money but still everything will be depending on the government decisions of your country.

Definitely it depends on the government whether they are investing in bitcoins or not. Most of the governments have started investing in bitcoins to support their country’s economy with the help of bitcoins by trading them with altcoins and other currencies during pump period.

[DZU1410]

Bitcoin can not improve the country's economy simply by its existence, it has not yet succeeded in any currency. The government can improve the economy.

[Menchiepadel]

Yes,Bitcoin can help local economics and spur more growth in the global market. It will also an excellent opportunity for unemployed people who have free time to study bitcoin.We just hope that political leads are not retarded enough not to see the Bitcoin vision.

[rhodelmabanal]

Its up to the leader if he wanted to help people focusing on bitcoins. It because bitcoin also increase unemployment. Bitcoins are just roller coaster to people who buy and sell bitcoins. Somehow on other areas bitcoin increased country's global exchange its because they used now internet in buying goods.

[conected]

Yes it is possible, Bitcoin can improve the country depending on its government if they were gonna use it for good. It was also a great way to buy goods through online using virtual money but still everything will be depending on the government decisions of your country.

Definitely it depends on the government whether they are investing in bitcoins or not. Most of the governments have started investing in bitcoins to support their country’s economy with the help of bitcoins by trading them with altcoins and other currencies during pump period.

- Well, if the government has a reasonable investment plan in bitcoin, the economy of the country could improve significantly, however, the current government of many countries also dare not invest too much in bitcoin, Bitcoin still has certain risks. In addition, many people still do not know about bitcoin and still think bitcoin is a scam, unreliable, only one part is to know and work with Bitcoin, this has made the influence of bitcoin on the economy of many people still limited, Bitcoin can improve the economy of a country but it needs the coordination of people in that country

[djablom]

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

I was talking about printing excessive amounts of fiat which is certainly bad

And which I made clear right at the beginning of my post. In fact, in the modern fiat system the government of a country or its central bank doesn't need to print anything at all. Just like I said, money can be created and destroyed as required by the economy itself. If the economy expands, banks loan out more money, and thus more money is created. Conversely, when the economy shrinks, more loans are paid paid back (or written off in case of the borrower's default), so the amount of money in the economy diminishes. That's why the modern fiat money is called credit money since it's created and destroyed via bank credit

yes it is not to difficult for bitcoins to improve the economy of the entire country because the price of each bitcoin is much more then gold so if each person of a country started using bitcoins than within one month you will see changes in the economy of country.

I agree with you but i don't think it will be in one month i would guess it would take 1 year to improve the whole country and not only the citizens need to use it but also the government this way the economy will be doubled it may even go triple the situation it has now.

[saschafx]

if a nation find a way to create most affordable electric powered in the globe then indeed. otherwise bitcoin will not boost any countries economic climate

[Lomberjack]

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 yes. Bitcoin can improve a country's economy because as many people belongs to one country uses bitcoin, there are lots of money through bitcoin csn be generated that will get into the economic sector to rise up the funds that is getting into it. Since bitcoin was a good form of investment, I bet that it can really make improvement on the economy of a country.

[kirilld]

if a country uncover a way to create least expensive electric in the entire world then sure. or else bitcoin will not boost any nations around the world economic system

[BartS]

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.

Governments need to get smaller, there is no way around that, governments are not doing anything to stop the bureaucracy when you could supplant millions of those jobs with computers and charge less taxes, so if they are not willing to that on their own bitcoin is going to do that for them, so I am not sorry at all if governments need to be smaller as a consequence of bitcoin acceptance through the world.

[Investorro1]

Some states are accepting bitcoin even in exchange for their citizenship.
http://uk.businessinsider.com/vanuatu-accepts-bitcoin-for-citizenship-payment-2017-10

Anyway, generally, everything that can increase country's payment balance (lessen the debt) or GDP improves the economy.
Bitcoin itself can really help countries with underdeveloped financial sphere — no reliable banking sector, volatile national currency, etc. Also, it can become a new globalization way for countries under sanctions like Cuba or Iran.

[de_crypt]

Some states are accepting bitcoin even in exchange for their citizenship.
http://uk.businessinsider.com/vanuatu-accepts-bitcoin-for-citizenship-payment-2017-10

Anyway, generally, everything that can increase country's payment balance (lessen the debt) or GDP improves the economy.
Bitcoin itself can really help countries with underdeveloped financial sphere — no reliable banking sector, volatile national currency, etc. Also, it can become a new globalization way for countries under sanctions like Cuba or Iran.

Venezuela is going to be first to try solving economic problems with bitcoin
https://fee.org/articles/the-first-bitcoinization-of-a-sovereign-state-is-happening-now/

[DaftAjax]

if a nation find a way to create most affordable electric powered in the globe then indeed. otherwise bitcoin will not boost any countries economic climate

That statement just came out of the blue, you should explain it thoroughly next time. Why state the most affordable electric powered? So if no one have one, Bitcoin can't improve a country? Is that it?

I think that's not right mate, since Bitcoin is not the only one going to be affected if the electricity would go down (very expensive). So government will take action for this because these Coins are just currency, it won't really have that much of an impact to the economy of a country.

[ItBeginInAfrica]

At this moment I think it only happen in Japan since they accepted bitcoin as their currency can't imagine any other country .

[Sonin1944]

Bitcoin is a risk to the economy of any country. But 1st of all will endure the US economic system. I am confident that before long we will see a actual war the us authorities towards bitcoin. We will want to have a whole lot of endurance and believe in to bitcoins to acquire this war.

[Dontme]

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?

Higher economy is always starts at the individual economies. If people experience economic problems then the economy of one country is low. Well Yes, bitcoin improves the economy of a country. If people become rich with bitcoin he or she ends poverty or what we called economic problems. It is because of bitcoin right? Their are a lots of life that bitcoin already helps to improve their life.

[dillema018]

Bitcoin can improve the economy of the country. It can improve the country by using bitcoin in their daily lives like buying goods and paying it with the use of bitcoin. You can also pay bills. In that way you can make a rebate and as you earn more rebate by using your bitcoin, you can use it as another income. It serves as gratitude in bitcoin users. In that simple way, everyone can save and improve the economy.

[Rhaizan]

I believe that one country can improve because of bitcoin, if many people in country use bitcoin or do something to earn bitcoin many people can be rich so the economy can also improve because of that.