Can bitcoin improve the economy of a country?

[jak3]

It actually depends on the place you are at. Many countries has band Bitcoin in the country and their government does not want to see anyone using it. People already know that bitcoin has a lot of potential so we call it the best long term investment in our generation. Bitcoin offers a lot of opportunity which can easily improve any economic of any country if used well. We should know that Bitcoin is weak so you have to organise everything yourself in order to be secure but it is not more better than any bank of any country.

[krigger]

It actually depends on the place you are at. Many countries has band Bitcoin in the country and their government does not want to see anyone using it. People already know that bitcoin has a lot of potential so we call it the best long term investment in our generation. Bitcoin offers a lot of opportunity which can easily improve any economic of any country if used well. We should know that Bitcoin is weak so you have to organise everything yourself in order to be secure but it is not more better than any bank of any country.

Just because the government does not want you using it, you will not use it?

Umm, as far as I know most governments have not made Bitcoin illegal. Even one of the most strict countries in the world, North Korea sis not only not make BTC illegal, but they even started mining it by the government recently. So I think based on this factor, it is clear that Bitcoin will improve the economy of a country if they start mining it.

[nesh1]

Bitcoin can improve a country's economy even if it is just a way to pay, or another currency to use which I think would not help in improving economy especially now that sometimes it can aid on tax evasion. Despite that, many people can earn big on bitcoins via investments but it can really bring harm to those remittance services because it is easier to send money with bitcoins rather than using remittance which is a source of tax collections of the government but still bitcoin can improve people's lives.

I believe it can. Bitcoin does not only work as a currency, but it serves as a back up to the fiat circulation in one country. Since people can use it for trade, investment and transaction, it can bolster the market in such a way that it can give more exchanges in the market system. Therefore, it can actually make the business connections in a country more active and vibrant.

It can makes the trading market more vibrant, but you have to remember, it is just good unless the government can tax the Bitcoin users through exchange. And do the Bitcoin users of their country accept that tax or not? Because they can use other exchange with server from U.S, GB or other countries to evade tax.

In my country we already pay tax on bitcoin and it is normal for us because we almost pay tax for everything and this way it is also legal to keep bitcoins because you pay your taxes on it.

[adzino]

If is it mined by the free electricity of the goverment I don't see why not .. I just don't understand why govs didn't jump into it.

There is nothing known as free electricity. They are using those electricity from tax payers money. If the government jumped into mining bitcoin, then they would be wasting millions of dollars of tax payers money, with us having no benefit.

[fullhdpixel]

The total amount you have to danger occasionally in oder t make a tiny revenue in trrding appears nearly useless. These days i only trade every so often after i believe i can produce a couple of satoshis. I have alreaedy lot too much in stupid trades to know when to quit.oa

That is right. Bitcoin have helped people to work and earn money. When they earn money then next time they will be able to invest. And by investing in an earning source, they can make a better impact on society’s economical values.

Bitcoin is being used as a financial accelerator by many societies and nations so that in future they will be on the list of most influential economical countries.

[amih]

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?

Bitcoin is a virtual currency that has a high enough value, so I think it is very possible if bitcoin will improve the economy of a country because if we invest in bitcoin, of course this is a very profitable activity and it depends on policy of a country in the sense that a country wants to legalize bitcoin as a legitimate currency.

[androidr]

Unfortunately, central banks of many countries won't want to deal with Bitcoin, as cryptocurrency won't bring them any profit.
However, Bitcoin can positively influence the economical situation as it provides the regulation of investments.

[mikel00]

i think so bitcoin can improve the economy of a country because it can help people without job and it can reduce unemployed people

[edelwiswhite]

I believe that soon these coins will be the main money in almost all countries

[BeGoods]

Unfortunately, central banks of many countries won't want to deal with Bitcoin, as cryptocurrency won't bring them any profit.
However, Bitcoin can positively influence the economical situation as it provides the regulation of investments.

I think bitcoin only provides economic benefits for its users only. but does not directly affect the economy of a country. but if the number of bitcoin users in a country reaches millions of people. the economic influence of a country may be considerable. and its impact will be good for the economy of that country

[Etemind]

Unfortunately, central banks of many countries won't want to deal with Bitcoin, as cryptocurrency won't bring them any profit.
However, Bitcoin can positively influence the economical situation as it provides the regulation of investments.

I think bitcoin only provides economic benefits for its users only. but does not directly affect the economy of a country. but if the number of bitcoin users in a country reaches millions of people. the economic influence of a country may be considerable. and its impact will be good for the economy of that country

I agree, since it will changed lives of so many people. Also money remitted is an additional revenue money to the said country. It will have great impact in my opinion , and it also created jobs for its citizen and helps the unemployed.

[deppil]

It actually depends on the place you are at. Many countries has band Bitcoin in the country and their government does not want to see anyone using it. People already know that bitcoin has a lot of potential so we call it the best long term investment in our generation. Bitcoin offers a lot of opportunity which can easily improve any economic of any country if used well. We should know that Bitcoin is weak so you have to organise everything yourself in order to be secure but it is not more better than any bank of any country.

Just because the government does not want you using it, you will not use it?

Umm, as far as I know most governments have not made Bitcoin illegal. Even one of the most strict countries in the world, North Korea sis not only not make BTC illegal, but they even started mining it by the government recently. So I think based on this factor, it is clear that Bitcoin will improve the economy of a country if they start mining it.

because in reality the government forbids bitcoin because they can not control the bitcoin and its users. we need freedom in finance and the government does not allow it. I think even though the government forbids bitcoin though it will not stop me from using bitcoin. because you can still freely use bitcoin because bitcoin is on an internet network that is free from government intervention. my own country forbids bitcoin

[adiksau0414]

There's this possibility of the economics down fall. As stated to this article "Bitcoin definitely has created many parallel economies/eco-systems, It has potential to throw some big companies out of the business. It may serve as an alternate medium of exchange for countries in turmoil. But I don’t see any good reason for it to replace the currency or central bank." i think this article have a good basis for this.  Maybe somehow can improve if bitcoin is encash to real money and use it in our everyday use.  Currency also should circulate in the market.

[Gladz29]

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?

Everyobe can help the economy of the country, bitcoin is the one.. Some people using bitcoin now, so it easy our lifestyle using bitcoin. Because now a days some of us are no job. So its hard to fill our needs, especially our foods, so for me bitcoin is the one that can help to progress our country to improve our economy for better life in near future.

[webelong]

No.Of course not.The fact that a country has its own leaders,they are the ones who must solve problems on its own economy.Why will you depend the progress of your economy from bitcoin.Is bitcoin involve in such action.

[gentlebaguette]

No.Of course not.The fact that a country has its own leaders,they are the ones who must solve problems on its own economy.Why will you depend the progress of your economy from bitcoin.Is bitcoin involve in such action.

Nah man and i think Bitcoin can help the spreading of corruption too, it means it could damage to the economy of a country .

[Junard619]

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?

Because they see that the people are using it more and more everyday.
Bitcoin can improve the economy of a country, when that country find a way to properly tax bitcoin. Giving a good balance between the usage of it, and taxation.

[nemesis_]

It is possible. Bitcoin can improve the economy of a country once the government take control of this cryptocurrency. Once they find  a way to tax it. Bitcoin transaction may be too high but still, people are still buying it.

[Apes]

I think it can help lessen the people who doesn't earn or the unemployed,
They can earn through this crypto currency and help their family and their selves .

Yes, it will be an excellent opportunity for unemployed people who have plenty of free time to study bitcoin.

very helpful to the state economy because people can earn money from bitcoin and it happens to all circles, and bitcoin can also help unemployed to have income from bitcoin. bitcoin can help all people and other countries in economy or the other.

[CARrency]

It is possible. Bitcoin can improve the economy of a country once the government take control of this cryptocurrency. Once they find  a way to tax it. Bitcoin transaction may be too high but still, people are still buying it.

And I think bitcoin helped the economy too much but people will be starting to convert their bitcoins into other crypto currency since people here don't want government to take control bitcoin and even find a way to tax it. That will be the end of bitcoin my friend.

We are all sticking to the decentralization no matter what, and also, letting people have their own profit out of investment in bitcoin can help the economy, even though it will not be a drastic change, it will be a start.