Can bitcoin improve the economy of a country?

[Jedzkie050617]

Definitely yes, bitcoin can improved the economy of the country because people using bitcoin can developed there way of living. Also, to those people having already money due to the bitcoin will provide some business in the society and to help the different charity.

[zhopas]

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 there's a chance that bitcoin is the solution for the economy of every country. Bitcoin has a great value so that is why many people depend on it especially those people who are jobless. If there's is bitcoin the poverty in each country can be solve.

[Paul Pogba]

The fact is bitcoin has become a lot of people do, not even a little focus on 24 hours with bitcoin, of course they benefit because bitcoin so I'm sure if there is a state concern for bitcoin then it can improve the country's economy.

[hh4mmm]

yes i m sure bitcoin can improve the economy of this country, but it has to be legalize. secondly use myself as a reference, it has changed my way of living and depend on no one.   

[Harlot]

I do not know, because I am also confused with this question. But if I see bitcoin is able to improved a person's economy,or but for a county I still have not found anything that can make sure I think by day by day it will be large position also be improved by day by day, because now a day it will grow up some.

Yes.Many people involved in bitcoin now.Many people quite their real Job and involved in bitcoin now. Since they get income from bitcoin, their life is depend on bitcoin .Hence the bitcoin involved in the development of country .Many people inverse Their salary in bitcoin to get profit from it.

Only because the economy of a person has improved because he makes now money with bitcoin doesn't necessarily mean that the economy of that country has improved as well.

And if people win money from trading bitcoin, then other traders or other people has lost that money. So this is basically a transfer from the fiat money to the bitcoin system and this also doesn't mean that the economy of a country has improved.

To see if the economy of a country has improved because of bitcoin, we need to see the whole numbers before and now?

There is no such thing as an improvement of an "economy of a person" maybe what you mean is the improvement of his or her financial status. To measure the economy you must look at the micro and macro factors that involve the growth of a country in terms of wealth and resources. Now if many people are paying with Bitcoin especially the tourist you know that it is helping increase the wealth of a country.

[shezu007]

according to my opinion bitcoin will decrease the unemployment in many countries in the future and in the country when the rate of unemployment decreases then off course there country become strong financial so we can say that bitcoin can improve financially condition of a country.

[cryptojac17]

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 

Being a third world country in economy we are exporting laborers in different countries around the world their remittances has the great help of our countries economy, because Of bitcoin the remittances of our overseas contract worker is become more faster and economical transfer of funds both domestic and international and may further support financial inclusion, that is why I would say BTC somehow will help our country economy by helping faster remittances.

[criz2fer]

I do not know, because I am also confused with this question. But if I see bitcoin is able to improved a person's economy,or but for a county I still have not found anything that can make sure I think by day by day it will be large position also be improved by day by day, because now a day it will grow up some.

Yes.Many people involved in bitcoin now.Many people quite their real Job and involved in bitcoin now. Since they get income from bitcoin, their life is depend on bitcoin .Hence the bitcoin involved in the development of country .Many people inverse Their salary in bitcoin to get profit from it.

Only because the economy of a person has improved because he makes now money with bitcoin doesn't necessarily mean that the economy of that country has improved as well.

And if people win money from trading bitcoin, then other traders or other people has lost that money. So this is basically a transfer from the fiat money to the bitcoin system and this also doesn't mean that the economy of a country has improved.

To see if the economy of a country has improved because of bitcoin, we need to see the whole numbers before and now?

There is no such thing as an improvement of an "economy of a person" maybe what you mean is the improvement of his or her financial status. To measure the economy you must look at the micro and macro factors that involve the growth of a country in terms of wealth and resources. Now if many people are paying with Bitcoin especially the tourist you know that it is helping increase the wealth of a country.

I think paying through bitcoin would not help the country specially tourist because here in our country, tourist go to places with no internets and people dont know about bitcoin. They only know cash for their daily needs thats why I think it cant help to the economy if bitcoin will be a factor in the economy of the country.

[Sir Legend]

Bitcoin growth is remarkable in recent years, now news of bitcoin continues to fill and become head line in the world economic news, many governments are banned bitcoin but do not reduce the enthusiasm of users. if it is legalized then I'm sure bitcoin will improve the country's economy.

[jeraldskie11]

Yes, bitcoin can improve the economy of a country. First of all, bitcoin is available for all even under graduate can use bitcoin to earn money. So if we have a large number of poor people we can minimize it through teaching them how bitcoin works so that they could lift their daily life and saves more time and use the free time for your family and in the most important things in our life.

[naidray]

I think it is possible. From what i see now, bitcoin is a great option for those who are unemployed. Thus, this lessen the poverty that will result to a better economy.

Bitcoin can help to solve at least 5% of poverty; reducing the rate of poverty and also boosting the rate of a country’s economy. It’s just left for the people to work hard and put more focus into Bitcoin. Lazy people never can be success and hence with bitcoins too. Hard working or high investments will definitely help to improve individual's financial status.

[Kikeeping]

It depends. If a country already has an internet service that reaches all its territory and many of citizens are involved using bitcoin, certainly can improve economy of a country. Because, the daily transaction volume that occurs in bitcoin very high. Potential to contribute huge taxes for state.

[deisik]

It depends. If a country already has an internet service that reaches all its territory and many of citizens are involved using bitcoin, certainly can improve economy of a country. Because, the daily transaction volume that occurs in bitcoin very high. Potential to contribute huge taxes for state

But what are the financial mechanics of that?

It is easy to say that Bitcoin can improve the economy of a country but can you show via which routes and paths exactly that can be done in real life? Let's assume for a moment that a country has 100% Internet coverage, cheap and fast, as well as its population massively involved in Bitcoin. So how can cryptocurrencies (any cryptocurrency for that matter, not necessarily Bitcoin) help the economy of this country? You can say that the government could collect taxes. Yes, they could, from the money obtained by one half of the population (let's call them winners, the lesser half) taken from the other part (let's call them losers, the greater half). Do you think that the net effect will be positive for the economy of this country via this money shuffling?



If I can call it so

[Rinder]

I believe yes, lets take a look into Japan wich is where bitcoin is already legalized, soo lets say the people wich invested into bitcoin had spent 100 milions dollars, wich can be worthing nowadays 400 milions dollars, soo they can improve already their life as well get more coins and make more investment into others altcoins. Wich this i do believe really the economy can be improved as people will get more purchase power avaible, and there isnt any walls to block their funds when they try to exchange into their local currencie.

[kalawang]

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?

If we talk about bitcoin we should need to accept this in all country because bitcoin is the best opportunity to change any country because it can give a lot of money by all people in the world by using this so i think bitcoin can imporve our country.

[Nathland]

I think I've seen similar threads already.
Yes it can, but it depends how you understand improvement. If you expect it to make the country richer, better situated economically, compared to the rest of the world, I doubt it. Though I think it can improve the distribution of wealth among the people, which in a way improves the economy.
Bitcoin has a unique feature that allows people to work outside the system, which is very important in poor and corrupt countries. You can sell your knowledge and time in the Internet and receive instant payments from all around the world, without the need to pay transfer fees and without the need for permits from your local government. You're also not pressured by prices of your local competition and can keep your business in relative secrecy.

I think bitcoin can improve the economy and it will benefit the users more than the authorities. As any thing come it's come with both pro's and cons.  So as with bitcoin, it has advantages and disadvantages both.  Bitcoin runs on Internet so you always need a stable Internet connection. But it's unique nature make it so popular.  Its advantages are so attracting in future million of people will connect it.  As it's not under any authorities there is not as such benefits to the government.

[JTASSOCIATES]

The economy of a country is purely depend on the each countries government's financial policy  which changes according to the GDP growth of that country so. It is very difficult to improve the economy of a country by bitcoin is not possible as usage of Bitcoin is very less percentage only which wont make any impact in the economic of any country it is fact.

Bitcoin can improve most of the individual financial status that we have accept also more people getting benefit by bitcoin which might impact in next 25 years can be possible.

[joelou]

Yes its a great apportunity to help to improve the economy of the country because of bitcoin. for those who are not employed  people. bitcoin can help our daily expenses and it can help lessen the people who doesn't earn and
They can earn through this crypto currency and help their family.

[THAHIRHAJI]

Bitcoin users in every country is in less percentage only so I don't think Bitcoin will improve the economy of a country is very early to decide. Economy is purely depend up on every governments policy and it is depend upon their countries financial institutions decision decide the improvement. Due to bitcoin the improvement of country  economy is not possible and we should not expect about it for time being.

[D3m1r4wanti]

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 addition to the fact that many countries have bitcoin users, the country also has an open-minded rule of excellent long term so that they allow bitcoin in their country