Can bitcoin improve the economy of a country?

[Pfizer]

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.

It is all up to the value and they importance of the bitcoin in the country if in your country the bitcoin is the best country you are the lucky person and if you are not involved in the bitcoin you should buy the other things and the bitcoin will give you the return, the price and eh value of the bitcoin is now getting more and more high so in my country it is right for the country economy.

It improved the economy of lots of poor countries already. Their poor people found opportunities in bitcoin fields and they started to generate income from bitcoin easily.

That's another fact showing how it affected the economies.

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[yanlap]

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

If all the people will use the bitcoin then for sure the bitcoin will become the world famous and the bright value the bitcoin is giving the best of the investment and the people who are having the bitcoin as the side source of the bitcoin and the little currency so buy the bitcoin and then you will help the other people in the bitcoin and the economical condition of the country.

[The Alchemlst]

Yes, definitely bitcoin can play a substantial role in changing the economy especially when its use becomes legitimate. Legitimate, in a sense that, there is recognition in every State of every government body honoring its existence. If it happens, it can pressure everyone in the banking industry to bring down costs for banking transactions in order to stay competitive.

I agree with this imagine a nation earning online through bitcoins though their earnings are not taxable their local merchants and business establishments will benefit also from the money they will earn and spend. Given that everyone is able to buy and invest for another for of business in their country this will make a country even flourish.

[btcmayumana]

I don't think that there is connection between bitcoin and the economy of a country so even bitcoin will become very successful then it will not affect the economy of a country unless the country will accept bitcoin and use bitcoin as their secondary or even primary form of money then that is when bitcoin will improve the economy of the country.

I agree. still too far if bitcoin can have a major effect on a country's economic improvement.
bitcoin is one of the technology in looking at the banking field.
while the state is filled with a wide range of people with different models of mind and business roles.

[mifanmuzny]

Yes indeed if the government implemented the block-chain technology in proper infrastructure...

[CowboyKiller]

Yes, definitely bitcoin can play a substantial role in changing the economy especially when its use becomes legitimate. Legitimate, in a sense that, there is recognition in every State of every government body honoring its existence. If it happens, it can pressure everyone in the banking industry to bring down costs for banking transactions in order to stay competitive.

I agree with this imagine a nation earning online through bitcoins though their earnings are not taxable their local merchants and business establishments will benefit also from the money they will earn and spend. Given that everyone is able to buy and invest for another for of business in their country this will make a country even flourish.

The economy of the country will grow when the government can tax the Bitcoin user. However, it is impossible for the Bitcoin system is decentralization. Of course, the government can tax through exchange, but if the Bitcoin user go to make deal directly, it is also can't tax the Bitcoin user.

[LyQaN]

bitcoin is a digital platform currency,any currency which is digital will improve country economy because transaction through banks or other sources will be transparent and government can have a check on it. But the thing with bitcoin is that it is anonymous and is not being legalized and official in many countries ,so its  anonymous and decentralized,so one has check on transaction so it will not improve the economy on very large scale .

[cava95]

I think yes if goverments works to informe and educated citezens about bitcoin his adventages and about other cryptocurencies this things can help economy to grow and reduce unemployment.  

[Fappanu]

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 it can because you're receiving money through bitcoin and it decreases unemployment rate. A lot of people are able to earn decent money even if they are just doing online jobs or just earning bitcoin at home. I think that this is an ideal job for parents and students so that they can earn on their free time.

[deisik]

I don't think that there is connection between bitcoin and the economy of a country so even bitcoin will become very successful then it will not affect the economy of a country unless the country will accept bitcoin and use bitcoin as their secondary or even primary form of money then that is when bitcoin will improve the economy of the country.

It may not have an impact on the big economies. But if a small nation such as Nauru or Palau legalizes Bitcoin, and if the major Bitcoin exchanges and other ventures rush to that country, it can result in a big boost to the local economy. Thousands of new jobs will be created and billions of USD in tax revenue will be generated every year.

Well, a simple question begs to be asked

Are they idiots if they don't see this big opportunity to boost the local economy or is there something which we miss? In short, why don't these micronations legalize Bitcoin after all? Maybe, the exchanges and other ventures aren't in fact going to rush there even if they do? I guess it doesn't work like you think it should, and it should take rather big amount of time till their reputation is established. Switzerland didn't become a world banking center in a day, right?

[ruslango]

Numerous place use bitcoin i feel simply because have a hugh variety of consumers,but nowadays bitcion help men and women to acquire or market on-line with bitcoin and on this way we increase economic system.But in furture bitcoin have opportunity to be quite substantial part of financial system and increasing dwelling requirements.

[SixOfFive]

I think it got the potential to change countries economy quite vigorously. I don't know it will improve or ruin a country's economy but yes it will surely make a remarkable spot on global economy.

[jasondublinkun]

I think if a country take advantage of the potentials of Bitcoin, it can help the economy of a country.  Simply by legalizing Bitcoin or acknowledging it as money and  encourage Bitcoin start-ups to start, it may attract lots of company and investors to venture a business such as exchanges or online shops based in its country.  The government then can earn from taxes thus increasing the country revenue which can be use to enhance and improve the countries economy.

but governments would find it super difficult to tax those parties cuz it's just too easy for them to escape tax with cryptocurrency.

[Noesly]

Yes I believe the economy of our country improve it because of bitcoin,look our society is full of a problem and the most number one problem is a money budget for any projects,if everyone use a bitcoin I think we help it to big increased a money of one country, and then the next will improve the economy.

[Afnan_faizah]

I think it got the potential to change countries economy quite vigorously. I don't know it will improve or ruin a country's economy but yes it will surely make a remarkable spot on global economy.

Bitcoin would improove country's economy. By increasing the people's income. Even georgian government create innovative system of registering land titles via private blockchain. This means some countries are already seeing the benefits bitcoin that will have a possitive effect on their economy.

[galvan jean]

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 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.

[thundercrystal]

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?

It is true that many countries accept bitcoin as a source of income. In our country cryptocurrency gives a big benefit to the economy of our country. Some says that it would be a scam, but a big part of our society accepts it.

As this bitcoin arise it can change the country's economy and also there are many users.

[naily]

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?

with the bitcoin of a country's economy will have a positive impact, bitcoin makes it easier for people to transact online

[francis2]

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?

Most of the countries that are taking action regarding bitcoin are countries with a good amount of bitcoin users, after all, if that was not the case then they will not need to create any regulation regarding bitcoin and its usage.

[ruslango]

if a region discover a way to produce least expensive electric powered in the globe then yes. otherwise bitcoin will not increase any nations around the world economic system