Can bitcoin improve the economy of a country?

[Fatanut]

Today there are many people in different countries who use bitcoin. Probably because, the price is high above local price. But, there are still many countries that have not allowed sale and purchase using bitcoin. Probably because, the factor laws of state regulations prohibit it. But I'm sure, bitcoin can improve a country for the future. Because, already proven by many people who use bitcoin, the results can change their lives for the better than ever.

If people really are using bitcoin because it has a higher price than their local currency, then the major part of the whole world should be using USD or Dinar right now since the two have the most value. I don't see our country changing our currency because dollars have a lot more value than our money. I also don't see stores accepting foreign currencies.

People as an individual are going to grow financially with bitcoins. But does that improve the economy of the country at all? I think that a country's economy are improving by having more products exported to countries or having to collect more taxes from people. With bitcoin, we are not paying taxes at all. Maybe if you're feeling a little generous you are going to pay for the tax even though you don't really have to. On the other hand, if people are going to be rich as an individual, they might still be able to help improve the economy by consuming something because when you buy something, you are actually paying the tax. So once you're rich and you're going to build a house, all of the things you just purchased have their 12% price go to the country's money.

[Majharul Saiif]

Yes,obviously. Bitcoin can improve the economy of a country. Actually, Bitcoin is a popular business for all and it's profit level is so high.As a demand, everyone who wants to get profit, I suggest him to hold his coin few days.After all,Bitcoin can improve the economy of a country

[RoronoaJorah]

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 don't think that bitcoin can improve an economy of ones country, Not all country know about this bitcoin, or the government ignores it so how will it improve the economy of ones country. Here in our country, only few knows about bitcoin only few, work hard to earn money on this but a lot of those who know it, quit their jobs to focus on it, they see it as a kind of full time job also.

[rikybrosh]

Depend on how many bitcoin adoption in those countries, if those countries fully adopting bitcoin as payment option, the citizens of those countries will get some benefits such as ability to send money world wide in a few minute, avoid inflation and consider bitcoin as an investment.

[Pattart]

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?

Maybe both, for example in the country of China, although there are a lot of bitcoin users and investor there they still choose to banned bitcoin. Maybe because bitcoin doesn't bring a good impact to their economy. Or maybe bitcoin already covertheir economy and they can't control it anymore. I believe that bitcoin can affect one's economy, But im not sure if this effect can be good or bad.

China may have noticed that bitcoin has a bad influence and is detrimental to the government, bitcoin makes government tax revenue decrease. because I'm sure many people are hiding their wealth and income in bitcoin so avoid taxes. and I think bitcoin does not really help the economy in a country because the bitcoin user is just a  upward class society

[Altero]

Yes bitcoin can improve economy if it regulated by particular country.Than bitcoin can be used for trading purpose and people can use bitcoin as they are using fiat currency. people will want to earn more bitcoin if they legalize in country and then Per capital income will rise.

Not totally bitcoin can do a lot for our economy, even it become legalized. Because we don't pay anything to our government for this, only the exchanges have imposed fees for all bitcoin holders and investors. That's why some countries didn't support bitcoin because they can't benefit from this, unless they start collecting tax. And with this, we can help our country to improve our economy.

[lordquanta]

Yes bitcoin can improve economy if it regulated by particular country.Than bitcoin can be used for trading purpose and people can use bitcoin as they are using fiat currency. people will want to earn more bitcoin if they legalize in country and then Per capital income will rise.

Not totally bitcoin can do a lot for our economy, even it become legalized. Because we don't pay anything to our government for this, only the exchanges have imposed fees for all bitcoin holders and investors. That's why some countries didn't support bitcoin because they can't benefit from this, unless they start collecting tax. And with this, we can help our country to improve our economy.

If we see the situation of govt benefiting from the bitcoin bit differently then we could see that there are chances of benefit for govt as well. A govt does not need to totally rely on bitcoin but they could use the backend technology which is blockchain to move all the public domain data there. That is if govt decides to keep the things like land records, insurance records and various govt policies then manipulating these records will be next to impossible. Thus frauds related to these field will be less and less. When underdeveloped countries started digitizing the land record, the work was intentionally shoddy. Later to cover up the scams entire computer systems from department were burnt down. This would not have happened if they kept those records on blockchain and nodes of blockchain at geographically different location.
Bitcoin transactions are irreversible and could be verified anytime in history. Once it is recorded it is done. Thus if  countries allow use of bitcoin then they could get more transparency in transactions. 

[eekkaa]

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 of course it can, it all depends on his government to approve and support bitcoin or not, if the government of a country can approve and accept bitcoin transactions then bitcoin will be received in all community.

[bhabygrim]

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?

Apparently, it can. The thing is when we sell or trade bitcoin, we pay for it's value. Any transaction within a country with it's citizen is counted as an economical growth. Meaning when you sell something and earn money it affects the economy positively.

[mware]

Not really improve the economy but it's help some people who have knowledge in the internet to generating enough income to support their finances. i think too fast if bitcoin improves a country's economy

[francesyrus]

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 a certain country accept bitcoin or other crypto currency as mode of payment in all merchant whether online or offline store I think it will improve its economy. Government must accept or legalized the use of bitcoin so that it can help the economy to grow.

[twicezeroiszero]

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?

Apparently, it can. The thing is when we sell or trade bitcoin, we pay for it's value. Any transaction within a country with it's citizen is counted as an economical growth. Meaning when you sell something and earn money it affects the economy positively.

Your said will be right if you can use that amount to pay the taxes for the government of your country.
If you do not pay anything for them, you just make money for you and your country's economy will not get benefit from your income

[megynacuna]

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?

Apparently, it can. The thing is when we sell or trade bitcoin, we pay for it's value. Any transaction within a country with it's citizen is counted as an economical growth. Meaning when you sell something and earn money it affects the economy positively.

Your said will be right if you can use that amount to pay the taxes for the government of your country.
If you do not pay anything for them, you just make money for you and your country's economy will not get benefit from your income

Well the economy stands to benefit even with the establishment of cryptocurrency or bitcoin exchanges in every economy because they help infuse foreign exchange into the economy through their exchanging of bitcoin into fiat and vice versa.

[Risktaker31]

Theres many things that bitcoin can affect the some countries economy . Because anyone can use bitcoin for free and its decentralized feature plus no one will know the identity of the user so you can have some privacy over your account or money.

[plaintiff77]

Yes bitcoin can improve economy if it regulated by particular country.Than bitcoin can be used for trading purpose and people can use bitcoin as they are using fiat currency. people will want to earn more bitcoin if they legalize in country and then Per capital income will rise.

Not totally bitcoin can do a lot for our economy, even it become legalized. Because we don't pay anything to our government for this, only the exchanges have imposed fees for all bitcoin holders and investors. That's why some countries didn't support bitcoin because they can't benefit from this, unless they start collecting tax. And with this, we can help our country to improve our economy.

I agree to the idea that bitcoin really helps improve the economy. It helps a lot of people earn big and helps people how to invest to a great deal in order for the bitcoin stored to get bigger and bigger. The number one problem of economy is poverty. Thats why bitcoin is a blessing since it can definitely change the world

[pureclckr]

I think yes, bitcoin can improve the economy if the people unemployed is using this bitcoin if that people has change his/here life using bitcoin they help the economy. How? Less the peoples jobless. Unemployed people is a major problem of our economy...

There is hardly any reason to deny this fact that bitcoin is very much profitable thing and it can bring a lot of wonders to this world. We only need to believe in bitcoin and we actually need to give an awareness to the people around us about bitcoin. this way bitcoin will not only help more people in making a better earning but will also improve the economic condition of that country as well.

[waynechong1995]

Actually it wouldn't if solely Bitcoin is involved within, even though many people are using it, bitcoins would just be another kind of true 'exchange' medium for goods anyway cause Bitcoin are not easy to mined these days. Only a few people would be rich from bitcoins by owning significant of resources could sustain its profitability, majority of people might just be investor that are prone losing their fiats if they aren't careful. Bitcoins are generally insignificant to drive economy as it's just about earn more bitcoins which is again, not possible for everyone. Another more possible situation is where alts are starting to pop up from local businesses to capitalize local market into their projects, and that would be more likely to stimulate growth if these projects aren't scams. 

[bozo333]

Actually it wouldn't if solely Bitcoin is involved within, even though many people are using it, bitcoins would just be another kind of true 'exchange' medium for goods anyway cause Bitcoin are not easy to mined these days. Only a few people would be rich from bitcoins by owning significant of resources could sustain its profitability, majority of people might just be investor that are prone losing their fiats if they aren't careful. Bitcoins are generally insignificant to drive economy as it's just about earn more bitcoins which is again, not possible for everyone. Another more possible situation is where alts are starting to pop up from local businesses to capitalize local market into their projects, and that would be more likely to stimulate growth if these projects aren't scams. 

Yeah right country all people know the bitcoin it will improve the people growth and country growth. Economy is the important of the country. If you want know the growth for the country you check the economy. People will be grownup country economy also grownup. So economy will be growth country will be growth and it will communicate with other country.

[Dudeperfect]

Theres many things that bitcoin can affect the some countries economy . Because anyone can use bitcoin for free and its decentralized feature plus no one will know the identity of the user so you can have some privacy over your account or money.

Well, if you are not using any special protection to protect your IP address then it is not that much difficult for anyone (having programming knowledge) to trace the transactions using the IP address.

The governments across the world would definitely try to fetch the transaction data of most of the users through exchanges and through KYC mode thus it is a misconception that you are hiding from everyone when you make a Bitcoin transaction.

[Mr. Legendaris]

The fact is that bitcoin can make people earn extra income even many who become new rich. this proves that bitcoin can improve the country's economy, but unfortunately, many countries are not concerned with bitcoin so banned and limit the use of bitcoin.