Can bitcoin improve the economy of a country?

[OracionSeis]

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?

There is a chance that bitcoin could improve the economy of a certain country. For one, all the bitcoin earners living in that particular country would probably use their earnings from bitcoin to buy things within that country. Those things would surely have taxes. On that process, bitcoin is improving the economy of a certain country with the help of it's users.

Yes, you're right. The only way to make bitcoins contribute in a country is to use it as a usual currency like fiat. If all of the merchant accept bitcoins as a payment. They use bitcoin to buy product or services in which could be obviously contribute with the GDP plus the taxes from those products (but still, it depends, more factors to consider)

Although we all understand the problem of Bitcoin to be legally is the tax, but do all the Bitcoin's user accept that? I don't think those who knew the Bitcoin's function will accept to spend money for the tax if they want to evade the tax for their business.

[nightxglow]

Countries accept bitcoin because they understand technology development and want to support it.
They also know it gives quite great impact in a positive way to many people, that can also effect the country indirectly.
If many people invest in bitcoin and get profits from that, maybe they will be richer or their poverty will be gone.
That means the country's poverty number decrease and can be a good thing for the country.
It can also improve the country's economy if that thing continues.

[yanlap]

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?

There is a chance that bitcoin could improve the economy of a certain country. For one, all the bitcoin earners living in that particular country would probably use their earnings from bitcoin to buy things within that country. Those things would surely have taxes. On that process, bitcoin is improving the economy of a certain country with the help of it's users.

Yes, you're right. The only way to make bitcoins contribute in a country is to use it as a usual currency like fiat. If all of the merchant accept bitcoins as a payment. They use bitcoin to buy product or services in which could be obviously contribute with the GDP plus the taxes from those products (but still, it depends, more factors to consider)

Although we all understand the problem of Bitcoin to be legally is the tax, but do all the Bitcoin's user accept that? I don't think those who knew the Bitcoin's function will accept to spend money for the tax if they want to evade the tax for their business.

Yeah I have heard about it that in some countries bitcoin is paying tax and I think it is good for the bitcoin legalization because if bitcoin will become legal all people will use bitcoin and it will make bitcoin value go more high. So for me yes bitcoin can probably improve the country economy and it will legal someday. At some time all the transaction and the payments will be dome through bitcoin so bitcoin will be more famous with it.

[tittensor]

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?

There is a chance that bitcoin could improve the economy of a certain country. For one, all the bitcoin earners living in that particular country would probably use their earnings from bitcoin to buy things within that country. Those things would surely have taxes. On that process, bitcoin is improving the economy of a certain country with the help of it's users.

Yes, you're right. The only way to make bitcoins contribute in a country is to use it as a usual currency like fiat. If all of the merchant accept bitcoins as a payment. They use bitcoin to buy product or services in which could be obviously contribute with the GDP plus the taxes from those products (but still, it depends, more factors to consider)

Although we all understand the problem of Bitcoin to be legally is the tax, but do all the Bitcoin's user accept that? I don't think those who knew the Bitcoin's function will accept to spend money for the tax if they want to evade the tax for their business.

Yeah I have heard about it that in some countries bitcoin is paying tax and I think it is good for the bitcoin legalization because if bitcoin will become legal all people will use bitcoin and it will make bitcoin value go more high. So for me yes bitcoin can probably improve the country economy and it will legal someday. At some time all the transaction and the payments will be dome through bitcoin so bitcoin will be more famous with it.

This is the issue related the world's economy, you can not tell it will be easy happen like that. To be honest, the Bitcoin price and the nature of Bitcoin are not useful to become a currency as the purpose to create Bitcoin of Satoshi Nakamoto. Sadly, the Bitcoin users are using Bitcoin for investment and trading, no one care Bitcoin can be legally or illegally, because they can trade it without the government.

[NJB18]

I think it is crazy to be believe that bitcoin will become a reason for a country's economy to prosper. Bitcoin is decentralized and governments might even have a hard time exercising tax rights.

[jinx029]

bitcoin will be able to improve the economy of the country if it becomes accepted as payment in all places in the country. So more people will start paying with it and improve the financial situation in the country

[androidr]

Bitcoins are great in giving people new job opportunities and turning unemployed people into the useful characters of the society but I don’t think so they are going to destroy national currency in any way. Bitcoins are meant to be used internationally by everyone not to be made national currency

[Lonthe]

Unfortunately many countries are banned bitcoin, they are worried about the use of bitcoin can reduce the fiat and cause new problems. I'm sure that bitcoin can help the country's economy by increasing welfare.

[Mrliberty]

Yes bitcoin can improve the economy of a country, whereby there won't be much people on the road side begging for arms, and seeking employment here and there

[yametekudasai]

The area with the biggest potential for Bitcoin worldwide is probably international remittances: money sent home by workers living abroad. Migrant workers (or businesses operating on their behalf) could use Bitcoin to send payments from one country to another through email, without worry of fraud or needing to support an elaborate exchange or credit market.

[Faxmate]

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, it is a bitcoin help in our country especially for poor people they can also have a small amount of income for their daily life if they work here they are just beautiful and life-oriented and big it helps to build a business

Yes indeed and my country is one of the example of it almost sixty present people are using bitcoin in my country and now there is a very good news coming for bitcoin that next year in January there is possibility that bitcoin will be legal in here because our country realized that bitcoin really help them and it reduce unemployment here and that’s why day by day it's users are going to increase here so I wish it be legal soon.

[Copulative]

In my opinion, Bitcoin can improve the economy of a country because it is an alternative way of digital payment through the use of virtual currency. Digital payment makes it easier for people to buy or sell stuffs including the currency itself from a flat currency to Bitcoin. With the help of Bitcoin as digital payment tool, people in a country would have easier access in payments thus circulating the money which will then lead to an overall economy improvement. It is a simple economic concept that the more money circulates in a country, the better for its economy.

Bitcoin is the high rated currency in the whole curreinces presently and if any country have large number of bitcoins then it means the country have strong econimcal site because bitcoin is a money and if you have bitcoins then it means you are strong economically.

[acener]

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 all depends on how bitcoin or other cryptocurrencies are used. When they are used online then I'm afraid it is not improving the economy. However, when the user decides to cash out his coins, and used them to buying things in their country, then only by that time it will have an effect and can improve the economy.

[ArnoldChippy]

It could improve by putting tax on it since bitcoin could not benefit from just the bitcoin itself. Regulating it could help the country's economy to grow faster.

I am not in favor of regulating bitcoin at all because in this way people will lose their interest in bitcoin. Bitcoin are the only digital currency which is known around the world and just for one reason that it is decentralized and people feel really very secure in using this currency. The interference of government in this currency will simply ruin its future. Governments are all the time looking for snatching public wealth.

To regulate bitcoin in its origional form will not reduce the interest of the people, but even it will attract more people toward itself. Being legal the local investors will also start taking interest in bitcoin and will make bitcoin as more stronger and successful.

[Bitcoin2009]

Of course, bitcoin has made many people earn even a new rich person, of course the effect is they can improve the country's economy, if the state legalizes bitcoin then the impact is greater than it is now.

[The Monkey King]

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 so. If every people work hard there is not impossible to improve our economy. Bitcoin can help to improve the economy because of its value. If there are people who earn and help to the economy growth it is not impossible.

[anga3636]

In my opinion, Bitcoin can improve the economy of a country because it is an alternative way of digital payment through the use of virtual currency. Digital payment makes it easier for people to buy or sell stuffs including the currency itself from a flat currency to Bitcoin. With the help of Bitcoin as digital payment tool, people in a country would have easier access in payments thus circulating the money which will then lead to an overall economy improvement. It is a simple economic concept that the more money circulates in a country, the better for its economy.

Yes bitcoin can improve the economy of county if a country can legalize the bitcoin for people and if the large population of a country are a follower of bitcoin and have large number of bitcoins then its means the country have large number of money and can improve the economy of a country.

[tanginamoo]

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?

Definitely yes. Bitcoin is in international currency the USD. Then if it is transferred to national currency it can help the countries domestic economy. It can help a country to be globally competitive.

[reijusama2583]

Well probably is it a yes because it helps many people like the unemployed one because they gave a job for them to gain money so that they can contribute in the economy. Bitcoin helps a lot of people majority of the people who are using bitcoin almost improve their social status and because of that they can contribute in their economy and continually helps other to surpass the obstacle that they are currently facing right now. I hope someday every people will not suffer any poverty so that no one will suffer the agony of death and also to enjoy their lives to the fullest.

[aysg76]

Of course, bitcoin has made many people earn even a new rich person, of course the effect is they can improve the country's economy, if the state legalizes bitcoin then the impact is greater than it is now.

Well, bitcoin is hiking up has provided many a great opportunity to earn through it. Because of it many of them earning a great amount, and that is having a great impact on improving a country's economy as being in an international currency it flows in the domestic economy thereby boosting it up...