Can bitcoin improve the economy of a country?

[pinoyden]

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 both of them are correct and also bitcoin can improve the economy of the country by means of giving job  online to the unemployed or uneducated/undergraduate individuals because lately there were more available jobs like advertising ( i.e signature campaigns, social media, bounty) therefore it can give oppurtunity to some people who are not accepted by the society because they are lack of some key qualities.

[Capt00]

Bitcoin has a unique feature that lets people work outside the system, which is very important in poor and corrupt countries. Bitcoin has long been instrumental in improving the economy of a country, who are in the world of Bitcoin, and feel that their income earned from Bitcoin has improved.

Because of its uniqueness makes bitcoin take a place in the heart of the people. As bitcoin become ppopular, many lives had change and it is an indications that this kind of technology ca make something to contribute in our economy.

[ilyadt]

i consider sure , even if some banks don't settle for the bitcoin , i believe this may possibly be the potential of payments , or it would be great to be . And you know with all the taxes that go to the state spending budget it would be a large quantity sooo sure i think bitcoin can improve economic climate of a nation but in foreseeable future not correct now.

[Asmonist]

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 will improve a country's economy because investment will increase. Many people will establish businesses. Buying and selling of goods will increase also. Bitcoin will improve people's buying power thus economy will also improve. Eventually, it will be directly be paid for goods or services that we need.

[tkamal]

Economy of any country only depend upon the country's financial policy only not by the currency. So Bitcoin is not in the position to change or improve the economy of a country. Yes agreed Bitcoin can improve lots of people's financial status which is true and proven it will improve more and more in future.

[E-shipper]

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?

While only the popularity of bitcoin does its job, and to raise the economy of a single country, bitcoin is unlikely to help, especially if the economy is already as high as in Switzerland.

[MS.LAWLIET]

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?

The economy of the country depends on the wealth of it's people. Well bitcoin gives poor one - that is knowledgable when it comes to technology - an opportunity to earn income that will somehow helps him financially. Well if our country for example legalized bitcoin then the poverty will lessen, maybe that can improve our economy.

[deisik]

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?

The economy of the country depends on the wealth of it's people. Well bitcoin gives poor one - that is knowledgable when it comes to technology - an opportunity to earn income that will somehow helps him financially. Well if our country for example legalized bitcoin then the poverty will lessen, maybe that can improve our economy.

This won't work in a "zero-sum environment"

You state it correctly that the economy of a country depends on the wealth of its population, but Bitcoin so far remains only a speculative asset, i.e. a token in a zero-sum game. What does it mean? It basically means that it can't help all people become better off overall since someone becoming wealthier via Bitcoin necessarily means someone else losing their wealth, so the net effect can't possibly be positive (in fact, it will be negative). The only case when this could work out somehow at a country level is when people steal jobs which are paid with bitcoins from other countries (which is known as outsourcing)

[crustez00]

I think some developing country is actually getting the impact of  bitcoin user on their country. because the revenue of its region goes up. and the economy became better in some region. that's my opinion though. #CMIIW 

[KenChanYu]

I think some developing country is actually getting the impact of  bitcoin user on their country. because the revenue of its region goes up. and the economy became better in some region. that's my opinion though. #CMIIW 

well i think it can really do help to the economy because it helps a lot in financial problem it really provide an extra income and  a huge profit if you are lucky can be a huge income if ever.most of the problem of all people living in one nation is money.it really affect the emotion if you dont have enoughf money maybe you can commit crime such as robery hold up or maybe murder. Some of the reason behind this crime was poverty and if we really have an alternative source of income maybe this crime well be prevented.by that btc can help the economy in terms of reducing crime because crime also is the number one  factor why economy is always fall terrorist the abusayaf the rebel group.maybe some of them is lucking money that is why they joined illegal activity to gain profit.bitcoin is really amazing.

[homculus]

Eliminating paper fiat will have a measurably negative effect on economies. Paper money represents a more efficient form of transaction than electronic payment. For the poor who can't afford a cell phone or internet connection, paper money is their only hope of buying/selling. Getting rid of paper fiat makes transactions more difficult and also centralizes the currency aspect of economies which leads to monopolism. Centralizing power and influence in this way is strongly correlated with exploitation, predatory business practices and inequality.

Banning paper money will have a measurable negative effect on economic growth, unemployment, inflation, standard of living & other statistics. It will represent lost opportunity, a higher bar to entry for markets, greater difficulty in small businesses surviving and creating jobs. There's no upside or advantage in getting rid of paper money. And there are definitely many disadvantages.

[bozo333]

Eliminating paper fiat will have a measurably negative effect on economies. Paper money represents a more efficient form of transaction than electronic payment. For the poor who can't afford a cell phone or internet connection, paper money is their only hope of buying/selling. Getting rid of paper fiat makes transactions more difficult and also centralizes the currency aspect of economies which leads to monopolism. Centralizing power and influence in this way is strongly correlated with exploitation, predatory business practices and inequality.

Banning paper money will have a measurable negative effect on economic growth, unemployment, inflation, standard of living & other statistics. It will represent lost opportunity, a higher bar to entry for markets, greater difficulty in small businesses surviving and creating jobs. There's no upside or advantage in getting rid of paper money. And there are definitely many disadvantages.

Bitcoin is use to growth for the country economy it will good to improve the future information it will give more information for social and economy it will get the process. People learn the bitcoin and it useful to improve the growth future and it will helpful to improve economy. It important for the country it will improve help to people for the future improves.

[ausbit]

Bitcoin has a unique feature that lets people work outside the system, which is very important in poor and corrupt countries. Bitcoin has long been instrumental in improving the economy of a country, who are in the world of Bitcoin, and feel that their income earned from Bitcoin has improved.

If we see at all the benefits which one can have by investing in bitcoin, the first thing we’ll observe will be this that bitcoin no doubt helps a lot in making someone earn a good amount of money. This will indirectly improve the economic condition of the country better.

It is because of the reason that as many people will be using bitcoin, the more it will help that country to get stable economy.

[KingdomHearts]

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 bitcoin can really improve the economy of a country because bitcoin can lowered unemployed people because they can earn here in this site and if they workhard they can earn alot of money and get rich that is why bitcoin is really a big help to improve economy of a country.

Bitcoins gives a good employment and also can be treated as full time or half time job giving us a good profit and can balance our financial life. Also students are learning bitcoins here on this forum and also other platforms and i think they can really increase the economical rate of the country.

The less unemployed people the more the economy will go high. Some countries which have legalised bitcoins will surely lead a prosperous life in the future.

[dongyi17]

I think so, if bitcoin could be of help to an individual person given a chance others too will somehow learn to adapt the system and grow it is also possible for the improvement of the economy of ones country.

[bitalive]

yes, if you study Venezuelan Hyperinflation, Venezuelans Are Surviving In Hyperinflation By Mining Bitcoin https://www.bitcoinmarketinsider.com/venezuelans-are-surviving-in-hyperinflation-by-mining-bitcoin/

[Napole0n]

The fact is bitcoin can make new rich people, with the new rich people then it can be sure they help the country's economy, they create new jobs so I agree that bitcoin improve the country's economy.

[trako]

Yeah. BitCoin can improve the country's economy. because the development of the economy depends on the action. Motion means development. to gain volume. development and growth are also achieved through trade. the larger the frame, the more economically the economy grows. If BitCoin is into the present social life and is a currency that meets a number of needs, then it means that if the movement is improving the economy.

[Napole0n]

Bitcoin has made many successful and wealthy people, because they are rich then this is proof that bitcoin can improve and improve the country's economy. if bitcoin is legalized then in a short time bitcoin will be popular and increase the country's foreign exchange.

[jonatuzc]

I think so, if bitcoin could be of help to an individual person given a chance others too will somehow learn to adapt the system and grow it is also possible for the improvement of the economy of ones country.

As far as economy of a country is concerned, there are some reservations with me. I think we are not contributing to our economy directly with bitcoins, and this is the only matter if solved, I must say bitcoin will be the most amazing currency covering all the fields. But to other side of picture, people are getting rich, they are becoming stable with their finances, so indirectly yes it affects.