Can bitcoin improve the economy of a country?

[Em_i_ly]

In crypto world there are no bounderies. Bitcoin or Ethereum worths the same wherever you are. People from Nairobi might earn the same amount of coins as people from New York. That's one of the best idea of cryptocurrency.When it's become widespread all over the world. each working hour would be rewarded equally. That should help underdeveloped and developing countries, if they will use it's potential.

There already are start-ups, which are trying to use this opportunity and improve each developing economy by basing their business idea on blockchain. for example Crowdholding.

[adam1230]

If a company start to work with blockchain technology then they will improve their economy.
Estonia is a good sample for improving countries economy.
but we need time for lazy politicians.

[Python2.5]

When majority of the population learn about bitcoin and starts using it, soon the dependence on bitcoin increases. So in future some situation might arise where the country's economy depends upon bitcoin or the virtual currency network.

[West0813]

Bitcoin can help to improve the economy of a country. Bitcoin is giving job for unemployed people. If there is many job in a country the economy of this country will improve.

[God Fist]

It can't do nothing to a country that lacks basic stuff such as internet and computers and educated citizens so there need to be a preinstalled ability of interacting with bitcoin .

[Em_i_ly]

Bitcoin can help to improve the economy of a country. Bitcoin is giving job for unemployed people. If there is many job in a country the economy of this country will improve.

How exactle bitcoin is giving a job for unemployed people?
Currenctly, you need a lot of money to invest in bitcoin.

[darklus123]

What can be the reasons for economic growth. It is of course started on every individual who are taking advantage of bitcoin's potential. It will then leads to more individual growing or improving thier lives which eventually will be resulting to economic growth. Neither the government or single corp. Can make that happen if there will be no interested individuals

[BrendaGee]

What I think is how bitcoin is able to change the middle to lower economic order in third world countries and some African countries whose economic level is still below established standards. They obviously can't reach the internet, and I think there is one gap that really helps them in today's Africa with ponzi method (onelife), although it's very helpful but this is still wrong and too risky for me.

[Michael-crypto]

Bitcoin can certainly improve the economy of a country, because it's a high value asset, a huge opportunity for people to invest and create economic growth.

It creates savings, investment and a new business environment.

[chelle5]

I cannot answer to that question.For there are a lot of factors that affect the economy of the country.And bitcoin is not that widely used so maybe for now it cannot improve the economy.

[monomix]

to impact economy on the country level, btc has to be widely accepted and used. the benefits are faster circulation, lower trans. cost, less fraud etc brought by decentralized system. though there are threats too, as it usually goes in real life

[PizzaBTC]

bitcoin can improve the country's economy if the country agrees with bitcoin. some countries do not accept bitcoin, because they think bitcoin will damage the currency exchange rate of the country

Exactly! It all depends on the number of people who are using bitcoin as well as the role of government. There is no point of denying this thing that bitcoin can actually change the economic condition of not only the individuals but also of that country as well.

It is one spot the government like how they actually deal with bitcoin. If they are willing to take positive steps in order to promote usage of bitcoin, then things can be, much better.

[Bowly88]

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?

For me yes because if one country accept bitcoins as part of their currency or official money, that will make them unique from all the other countries because having a digital currency means being a country that accept to be futuristic being technology competent to other countries. And besides with the help of this forum, we the people can gain money throught this forum and we all know that a lot of unemployed people are being involved thisnthing which means they can fain money which means the unemployed individuals will also lessen so the poverty will also be lessen.

[webdevmastery]

Country will improve depending on the government that is handling the area. Even bitcoins cannot make the country improve if the government is corrupted so it will always be depending on the people that is living the area.

[Bobmarley2000]

Yes it can but it depends on your country if it is very poor and it also depends on how much people use bitcoin in your country if a lot of people use it your country's economy can grow easily because their income will be bigger then before because of bitcoin.

[GAUMZEE]

It can certainly help the on-line/e-commerce and other IT related business as they are more tech savvy, we can also see benefits in other sectors like reduced depends on debit and credit cards, savings for banking companies like reducing of IT overheads and ATM costs.

[Scavagers]

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 i think bitcoin can really improves the economy of a country because it reduces unemployed people that gives them a good source of income like a regular job. But it will take a long time for a country to improve a economy until everyone uses bitcoin.

[LeaderAMB]

Bitcoin is giving job for unemployed people. If there is many job in a country the economy of this country will improve.

How could bitcoin give job for unemployed ? You can buy or mining bitcoin, you mean unemployed only mining bitcoin and this is way to them have a job but you have ever thought that you can spend a lot of money to buy device which help mining bitcoin and in fact unemployed often no have a lot of money.

[prtty2gal2]

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 smart because bitcoin can not be stopped as an international store of value so you may as well accept it if your citizens are going to use it. Otherwise you increase the underground and illegal activity and as a government or state this is the opposite of what you want to do. Smart countries will start creating their own cryptocurrencies so they can track the users who are using it. We will which country is smart then 

Yes indeed there is no doubt that bitcoin can play a big role in changing economy of any country and specially in poor countries bitcoin is a kind of role model for them day by day the newbies are coming to join bitcoin and they are very happy that they are a part of bitcoin so bitcoin is really helping them in their economy and already it reduces un employment there.

[conected]

bitcoin can improve the country's economy if the country agrees with bitcoin. some countries do not accept bitcoin, because they think bitcoin will damage the currency exchange rate of the country

Exactly! It all depends on the number of people who are using bitcoin as well as the role of government. There is no point of denying this thing that bitcoin can actually change the economic condition of not only the individuals but also of that country as well.

It is one spot the government like how they actually deal with bitcoin. If they are willing to take positive steps in order to promote usage of bitcoin, then things can be, much better.

- I even think that if the government accepts bitcoin, bitcoin still can not improve the economy of that country because in fact, some people know about Bitcoin could rise when the government accepts Bitcoin, bitcoin becomes more popular and more people use it. But want to improve the economy, people need to earn more bitcoin, improving personal income will improve the economy of the country, however, the problem is the number of people that can succeed, be patient and earn bitcoin. Every year, the field of Bitcoin has many people involved in but the number of people who can succeed is still too low, mostly to give up, so if bitcoin wantsto improve the economy of a country, unless the number of people in that country succeeds and earns bitcoin is a lot, otherwise, bitcoin still can not influence and improve the economy