Can bitcoin improve the economy of a country?

[Kakawate]

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 Bitcoin and cryptocurrencies are the future money, so a country without a cryptocurrency would be left behind. Bitcoin also improves the economy, why?, because it makes money transfer a lot easier, transactions would be just a click away, and long lines when paying will not be a problem anymore.

[Bellator]

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

Basically bitcoin can improve the economy not only thru government acceptance but by every individuals earning on it, imagine in a society with a lot of bitcoin earner's then some of them will build a business because they have a capital anymore, so that's the time that the government can earn thru business taxation, a lot of money circulation can enhance country's economy.

[Simss]

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 do not know, actually I'm also confused with it. but if I see bitcoin is able to improve a person's economy, but for a country I still have not found anything that can make me sure.

[ongels]

For me Yes, Because people get involved in bitcoin can produce huge amount of money, and money could be used to buy assorted stuffs and primary needs for living, and every expenses of individual has a tax charges . All the tax collected are used to make projects by government to facilitate comfortable lifestyle for everybody. The more money circulated in ones country the more tax revenues may earn from Government. Economy will rise.

[Best Dreams]

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

Yes I agree bitcoin can play a big role in economy of any country because bitcoin is a digital currency through bitcoin you can do a daily trade also you can buy online things and as japan is using bitcoin as a staff salaries so I thing slowly all other countries will start to do so it help to the students also so in all sector of the country bitcoin can play a role.

[Unplugged]

It will always depends upon the government if they are willing to provide services that enables cryptocurrency to function within its economic structure. Like what Japan did, they're now beginning to legalize the use of digital currencies. Also, in most of the countries they might see cryptocurrency as a means for corruption, illegal transactions and tax evasion. I'm really looking forward for a new economic system wherein cryptocurrency is used and optimized.

[Smarty14392]

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.

Bitcoin can no doubt very much capable of making the economic condition of any country very much better. The only condition for this thing to happen is that the people living in that country must be well aware about bitcoin and they use bitcoin for investment and trading. Only then bitcoin can affect the economy of the country. Role of the government carries a significant role in this regard.

[Deathgamer]

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?

In my own point of view,it can definitely address the economies number problem which is poverty. Once this burden be addressed then this alone improves economy of a certain country. Because in bitcoin, its purpose is to earn money, therefore it could solve problems of economy.

[Charisse1229]

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?

Yes it is possible to increase the economy of a country, if all people they know about cryptocurrency, i think it is the best solution for poverty in any country, i hope in my country all people they know about bitcoi.

[deisik]

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

Yes I agree bitcoin can play a big role in economy of any country because bitcoin is a digital currency through bitcoin you can do a daily trade also you can buy online things and as japan is using bitcoin as a staff salaries so I thing slowly all other countries will start to do so it help to the students also so in all sector of the country bitcoin can play a role

Where did you get this idea from?

I've never heard that employers in Japan are paying their staff and personnel with bitcoins. I'm not even sure that they can legally do that. Bitcoin has been legalized there as a foreign currency (like the US dollar), but that doesn't mean that businesses can pay the wages in bitcoins. Some may do that unofficially, especially businesses connected to Bitcoin operations but I don't think there are many such and their employees would agree to being paid in crypto (some certainly may, but not the majority)

[Jraf95]

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?

We can't say that bitcoin is to high that can change the countries economy but butcoin can improve our econmy because it has a ability to do some action that our country can't do such as taxes or etc. Bitcoin has no taxes it can't bring down our economy although it can utilized the expenses of every people.

[Gotottack]

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 Bitcoin can help improve a country's economy if it can come up with effective regulation and implementation. If a country can effectively regulate transactions using Bitcoins that have gone circulating online, surely it can help the government increase its funds for financial freedom. By increase of funds meant that earning through Bitcoins can be taxed as an income tax. This is an added reason for the government to collect those who earn through cryptocurrencies.

[BartS]

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/

I think that is a prediction that is too positive bitcoin is still not ready to deal with millions of people like that, I think that what it is going to happen is something similar to what happened in Argentina, bitcoin is not going to become dominant but it is going to become widespread and almost every person in that country will know what is bitcoin and will recognize its features as important and will keep some in case of an emergency.

[Didle1938]

if a region discover a way to produce least expensive electrical in the world then indeed. or else bitcoin will not enhance any nations around the world economy

[barabarian1]

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?

surely can.
every person that play bitcoin will helped their financial by it. didnt rule out, country's economy will helped too if the government believe in bitcoin. because you know, bitcoin give positive impact to all player that play it

[ololajulo]

 Crowdfund through bitcoin its a means for those who wants to raise a business. Such businesses if it succeeds can improve economies. Online store with bitcoin can help trade within and outside the country. Trade ( small and large) can happen between countries. Cryptotrading is a form of job for the unemployed.

[4U]

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.

Bitcoin can no doubt very much capable of making the economic condition of any country very much better. The only condition for this thing to happen is that the people living in that country must be well aware about bitcoin and they use bitcoin for investment and trading. Only then bitcoin can affect the economy of the country. Role of the government carries a significant role in this regard.

I agree with you it depend on a government if the government want so bitcoin can change economy any country and now a days I think there are a lot of countries who have accepted bitcoin in their country and its givein is good result in their country and I think it’s not a bad idea and I think those countries who’s economy is not good they must take advantage from bitcoin.

[DaftAjax]

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?

In my own point of view,it can definitely address the economies number problem which is poverty. Once this burden be addressed then this alone improves economy of a certain country. Because in bitcoin, its purpose is to earn money, therefore it could solve problems of economy.

That statement of yours is as absurd as it is. I mean I'm not trying to be rude but, clearly you don't have that much of a knowledge when it comes to Bitcoin. The purpose of Bitcoin is not solely to earn money, you don't even know what is the concept of it.

And I don't think it will improve a country's economy anytime soon, since the government do not take control over Bitcoin. So basically it is an independent and free currency, its one of its concept really, to be utilized on any way they see fit.

[BILGPS]

Yes It is. Bitcoin will improve the country economy. It is digital currency apparently it will not look that much affective towards economy. But it will contribute a lot to the economy it will improve standard of life of the people and it will improve the literacy rate and the poverty ratio of the world. Beside all this education rate can also be improved if this provide financial assistance for education to those who want to work as part time to earn some money.

[thesosorr]

Not yet in my opinion. If volume bitcoin transactions into fiat is low as it does in some countries, then government just gets little from transaction tax.