Can bitcoin improve the economy of a country?

[PalindromemordnilaP]

Bitcoin is only a measure of value, so I do not see how it can help the development of a country.

But with its value, more and more people are earning dollars and getting rich. Not only that, bitcoin has become the  base currency of cryptoworld and one of the reason why ICOs are coming out and with their bounty campaigns, it's giving a short time work for people that even the jobless can participate.

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[Tigerw]

I think, yes Bitcoin can improve the economy of a country as most of the times the value of currencies decrease over time due to deflation. But in case of bitcoin, it roughly doubles in 1 year, so switching to bitcoin is a boon to the people of the country.

but how can people switch to Bitcoin? This requires a real legalization of the crypto currency in your country. But we need to think about it, because if there is a crypto currency in such a genre as it is today, then it will be a threat to national financial security. Not all statesmen agree with the legalization of the crypto currency.

[DaftAjax]

Yes it can, in a way that the regulation of the cryptocurrencies will benefit both parties. I mean, regulations are not that bad, for one, they will accept cryptocurrency so its a good start. If the country will start on stepping to not just regulate it but also implement it, like allowing the crypto to be accepted by companies and enterprises. That'll be good for the economy in m opinion.

[MelojoeBryan]

Yes it can, in a way that the regulation of the cryptocurrencies will benefit both parties. I mean, regulations are not that bad, for one, they will accept cryptocurrency so its a good start. If the country will start on stepping to not just regulate it but also implement it, like allowing the crypto to be accepted by companies and enterprises. That'll be good for the economy in m opinion.

The main problem is the inability of the government to fully regulate crypto, especially there is still much debate that has made them think the cryptocurrency is able to make fiat currencies become biased and cause severe inflation, they are not ready to regulate something that has a market with extreme fluctuations, they consider this a business with a risk that many people can not accept in their country.

[santosummer]

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?

In my opinion, Blockchain is a target that is gaining much attention from the governments of the nations. Along with bitcoin, these are the utilities and efficiency that best meet the needs of industries, manufacturing ... The problem here is that they recognize the blockchain value in the question. Development of the economy and society. If they want to separate blockchain and remove Bitcoin?

Bitcoin is only a measure of value, so I do not see how it can help the development of a country.

Blockchain is the value of bitcoin. It is being widely applied in the industries, utility and efficiency. It promotes equitable and transparent management - it can have an impact and be a tool for boosting the economy if it is seen as equitable.

[TiffanyLien23]

Well probably, bitcoin will certainly improve the country's economy, because people were now have good income from bitcoin investments. They will spend more money in the local stores to buy the wants and needs, but most of all money will be easily been circulated to the country's economic system circulation of the entire country income at the world market. But not all of the country think that way, because there are some country that their government think that bitcoin can go down their economy.

[arthur25]

Bitcoin have no business to deal with those close door country in cryptocurrency. It only affect one place if they recognise the role of bitcoin in the future issue of currency. Open door to bitcoin can have more chance for growth than nothing economic improvement.

[Ekimzjames20]

Bitcoin have no business to deal with those close door country in cryptocurrency. It only affect one place if they recognise the role of bitcoin in the future issue of currency. Open door to bitcoin can have more chance for growth than nothing economic improvement.

I think bitcoin can't improve the economy of a country because even if it is a digital cryptocurrency that we need in our generation now. We have to ligalize first the bitcoin. We need to accept it to our country, in order that our country can benefits the profits of bitcoin.

[Indai24]

Bitcoin have no business to deal with those close door country in cryptocurrency. It only affect one place if they recognise the role of bitcoin in the future issue of currency. Open door to bitcoin can have more chance for growth than nothing economic improvement.

I think bitcoin can't improve the economy of a country because even if it is a digital cryptocurrency that we need in our generation now. We have to ligalize first the bitcoin. We need to accept it to our country, in order that our country can benefits the profits of bitcoin.

Yes. inorder to improve the economy of our country the government must accept bitcoin first and make it legal. Just like with other countries bitcoin is legal and their economy started to grow but I'm hoping that our country will soon acknowledge bitcoin.

[kusach01]

For example official exchange rate of banks is very highly. If small business imports the goods for BTC they would setup less prices for selling them to consumers. So consumers will save some money and pay more goods.

[dvmd catona]

I think so. If volume transactions of bitcoin occurring within the country is high. Because government gets tax from selling bitcoin to fiat.

[alex lionel]

I think bitcoin can improve the economy of a country if all people know this and have a patience or perseverance to earn bitcoin i think all people have a good profit and many people have a money to buy anything because of bitcoin Smiley

[fearcoka]

Bitcoin have no business to deal with those close door country in cryptocurrency. It only affect one place if they recognise the role of bitcoin in the future issue of currency. Open door to bitcoin can have more chance for growth than nothing economic improvement.

I think bitcoin can't improve the economy of a country because even if it is a digital cryptocurrency that we need in our generation now. We have to ligalize first the bitcoin. We need to accept it to our country, in order that our country can benefits the profits of bitcoin.

Yes. inorder to improve the economy of our country the government must accept bitcoin first and make it legal. Just like with other countries bitcoin is legal and their economy started to grow but I'm hoping that our country will soon acknowledge bitcoin.

There're many ways to make the economy of the country grow, accepting Bitcoin as legal or not so unrelated to the economic growth of a country. To be honest, accepting Bitcoin leads to a lot of issues related to the management and collection of taxes through this currency. All things will be difficult for the government as businesses can easily escape tax through Bitcoin.

[dekafee79]

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's possible. Bitcoin can give earn to many jobless that invest in bitcoin. so, it affect the economy of a country. the jobless get alot income, they can open a new business.

[mackhoy]

Probably yes, it can improve the economy but it depends on the country you are in and how they treat the importance of bitcoin. It is important to first understand the blockchain in able for the country to properly enable them to earn the right profit that will help the economy to rise up. This will happen sooner or later and it will not take long before all of these to happen what we can do for now is to wait and see what will happen tomorrow.

[Sled]

Bitcoin have no business to deal with those close door country in cryptocurrency. It only affect one place if they recognise the role of bitcoin in the future issue of currency. Open door to bitcoin can have more chance for growth than nothing economic improvement.

I think bitcoin can't improve the economy of a country because even if it is a digital cryptocurrency that we need in our generation now. We have to ligalize first the bitcoin. We need to accept it to our country, in order that our country can benefits the profits of bitcoin.

Yes. inorder to improve the economy of our country the government must accept bitcoin first and make it legal. Just like with other countries bitcoin is legal and their economy started to grow but I'm hoping that our country will soon acknowledge bitcoin.

There're many ways to make the economy of the country grow, accepting Bitcoin as legal or not so unrelated to the economic growth of a country. To be honest, accepting Bitcoin leads to a lot of issues related to the management and collection of taxes through this currency. All things will be difficult for the government as businesses can easily escape tax through Bitcoin.

Businesses will not be able to escape from taxes through bitcoin because the officials that look up for their address from the blockchain explorer which is a transparent tool for the people to look at someone's transaction and it will show up all of the transactions so they cannot hide something to the official to just escape from tax.

[decano]

I dont think so bitcoin is not that popular like any other currency even tho it is the highest value in the crypto currency. but not all of the people know about this bitcoin, so this bitcoin can't improve the economy of country but i think someday will.

[terbetet]

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 the wide presence of Bitcoin in a certain country makes it an observable reason why the government do accept the usage of Bitcoin to be legalized and be widely free to be used. Maybe because with their presence, government was already convinced that Bitcoin can do something to rise up their economy starting of by building its people's unity by getting their sympathy and trust on agreeing into what they want to freely use Bitcoin for a purpose. Added by the fact that unemployed people do see their hope of getting an earning or income even without physical job.

[putriangel]

Of course, I can. Bitcoin I think hiring people who do not have jobs is certainly good for everyone to have income. Bitcoin makes everyone forward in order to have their own income and help the economy of that person.