Can bitcoin improve the economy of a country?

[Jessy Mediola]

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.

Bitcoin is good for countries economies because it is a fresh flux of investments if they are correctly regulated and directed.
I hope that one day Algeria will accept Bitcoin, it would be great for our economy and could help us solve a lot of problems due to the currencies change black market (3 bil EUR market cap) as people could buy Bitcoin and sell it in foreign countries instead of playing with the black market.

This was just an example of how bitcoin could help a countries economy, but i think that regarding the countries who aleready accepted it as a virtual currency, the main advantage is the security, as it is far better then using a credit card (was ?), and it can give a good punch to start-ups growth (if they are not scam).

I think it will not. Because i think bitcoin is not totally legalized in my country if it will be legalized totally i think the government will take advantge and they will give some tax to those who earn here in bitcoin and i think it will help the economy.

[cherrymobile]

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?

Of course no doubt that bitcoin can change all economy because the value of this totally bumping so theres a lot of investor investing in bitcoin actually this bitcoin not yet virtual currency because sas far as now this is only a digital that have a value in real money.

[Loopper]

It could happen if a country supports with the arrival of bitcoin but bitcoin can not promise.

[Granxis]

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.

It is true that politicians are challenging us, but the Estonian example is a very sharp example, because Estonia is the most important country in Europe investing in the Internet.

[rickyNmorty]

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?

Of course no doubt that bitcoin can change all economy because the value of this totally bumping so theres a lot of investor investing in bitcoin actually this bitcoin not yet virtual currency because sas far as now this is only a digital that have a value in real money.

Probably yes but is government willing to legalize bitcoin in the country? If yes, there has a higher possibility to improve or increase the economy of a certain country. When it is legalize many people will invest and the government will make an action in improving the economy and i think giving tax to the investors of Btc will be a great help.

[katarin2030]

Quite possible but only when they officially accept the use of bitcoin, that means chances of improvement of economy on the cards. It depends on the governments.

[Kittygalore]

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 so, as of now our economy or most of the countries has a lower economy. Because of the crisis they are facing. But if the official legalize this BTC maybe the economic rate or economy will rise than the economy before. And since the value of bitcoin is increasing nd if the people are interested and join here (btc) it will be very helpful for the country's economy.

[cryptoblue77]

Bitcoin could lift many countries out of poverty, improve the lives of billions of people.

[Lorna t]

Can also improve the country's economy as well as bitcoin.if many people here work on bitcoin and because of them sometimes we also use it right from the current economy..

May not improve the economy of the country because it is not in the Philippines but in this country the bitcoin we live in.it is possible that in their country will improve .of course their economy in the country ..

[b1k4ng]

I am convinced that bitcoin is capable of boosting a country's economy with a very lucrative investment, because it has been proven that bitcoin changes the economy of a person involved in it.

[Sab11]

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 yes bitcoin can improve economy of a one country because many unemployed people will help to get a job, bitcoin can change the lives of many people.

[Yukyzu]

I think the high price and the many ease of transactions using bitcoin is the reason many countries are starting to accept the existence of bitcoin. but with the ease that many are using bitcoin for bad things like gambling, drug purchase, etc.

[armandoz]

Yes can improve the economy of a country. bitcoin help the country to meet the unemployed to have a personal income and also the disable people have better income in bitcoin they can live by his own way. the disable and retired from company. the young people now instead of playing online game.

[Stac]

Bitcoin provides a source of income to the unemployed and an additional income to employed which helps to improve the lives of many as a source of income. Bitcoin can transform the country to a digitized economy, improved standard of living and high economic growth this bitcoin technology has the capability to eradicate poverty and unemployment issues of the world. The early adopters of bitcoins are really lucky enough to get into this new invention which has changed their lives to be a millionaire.

[Kiweikoo]

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?

technology is getting ahead, now has started the era of digital money, and bitcoin one of the most widely used digital currencies, which also can improve the economy of a country bitcoin users

Since the time this concept of bitcoin and crypto currency was introduced to this world, things have changed quite a lot. There is no way that we can neglect the importance of bitcoin especially in the lives of the ones who are dealing with bitcoin.

Bitcoin can actually make not only the economic condition of the individual better but it can also change the economic condition of the country in a very positive manner.

[kolbalish]

Yes,obviously. Bitcoin can improve the economy of a country. If anyone notice the current world's news,he or she will able to see the Bitcoin's accepted many countries as a virtual currency. On the other hand,maximum counties can't accept it.That's is not matter. Because it is a profitable business. It gives profit who are connected to it and invest on it.For that,anyone can improve. After all,we can say a word,Bitcoin can improve the economy of a country

[kimpena]

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?

Yeah, I think so that somehow bitcoin helps the economy of a country. This may help to become more efficient in erms of paying. Making transactions will be more easy, and so many people will not think twice to have that service or that thing. Just like in buying things online, there are online sellers who wants you to pay thru remittance center,  what if your not in your mood to go out, or you don't have a cash, you'll be needing to go to the bank to withdraw your money to buy that thing you want. Bitcoin may help this transaction easier, where we will pay the seller by sending bitcoin (virtual money). If this happen, bitcoin has a big chance to create a cashless society that will benefit all.

[DaftAjax]

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?

Yeah, I think so that somehow bitcoin helps the economy of a country. This may help to become more efficient in erms of paying. Making transactions will be more easy, and so many people will not think twice to have that service or that thing. Just like in buying things online, there are online sellers who wants you to pay thru remittance center,  what if your not in your mood to go out, or you don't have a cash, you'll be needing to go to the bank to withdraw your money to buy that thing you want. Bitcoin may help this transaction easier, where we will pay the seller by sending bitcoin (virtual money). If this happen, bitcoin has a big chance to create a cashless society that will benefit all.

For some reason those things that you've mentioned seem to be very nostalgic to me. Have you ever heard of 'credit cards'? Buying things online, paying bills online, or even you wanted to pay on what you've ordered to the restaurant by using a 'credit card'. Those are already considered virtual money, don't you think? It already exist mate, you don't seem to understand the true concept of cryptocurrency, the major thing about it is that it is decentralized.

Ok let me enlighten the situation, there are also major things that are seem to be advantageous about centralized money to a decentralized money.

Centralized money are easy to control, because the banks are helping you make your money spending 'economical', its more like you're helping each other to gain profits. When it comes to paying it is quite easy, although 'taxing' exist in the centralized money, still it have more benefits than you think it don't have. For example you wanted to cancel a payment to a certain thing or service, here, you can do so. But when it comes to decentralized money you can't because, there are no people who monitors this, as for it exist in the blockchain it self.

Although having decentralized money helps you dodge from taxing no matter how big your earnings are, still you are more prone to hacking and other human errors that may affect your earnings.

[Chrisjay29]

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 it can help economy...because bitcoin can insert mpre money in a country. The more money will go in a country the more economy will grow...
Thats all know....
Sorry for my bad english

[Honest Tim]

I believe this will not be any helpful in country's economics. As bitcoins allow their users transaction free from any interference and involving any third party. Bitcoin is continously growing and many companies and authorities are offering their goods and services in return of bitcoins as a payment.  The most of the taxes a country government extract from the people is on the basis of taxes and these taxes came from the online transactions and taxes on goods and services,  that taxes is than used for a country's economics and services.  As bitcoins will cause no transaction fees it will leads to the reduction of taxes and thus will somehow also cause reduction in economics of a country.  People will save taxes and other fees by bitcoins but it will not be useful for the country.