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Author Topic: Will early adoring countries get large economic benefits from BTC?  (Read 645 times)
mobilezz
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August 27, 2017, 10:46:05 AM
 #21

I do not think that bitcoin can improve the economy of the country because it is simply a currency, and not a scheme for the economic activities of the country. The economy can only be improved by the introduction of other laws.

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August 27, 2017, 11:00:23 AM
 #22

Will countries that are early to adopt and allow Bitcoin be able to turn this into an economic advantage to them where they're better off than before?

Yes, of course.

The fact is that bitcoin is going to revolutionise the way economics is thought about. Previously, it was all centralized planning, everything was decided by the central bank. But with the introduction of bitcoin the notion of a decentralised economy can finally become viable.

Governments who support bitcoin will reap its rewards, as their citizens will be the most protected when a financial crisis originated from fiat currency hits the world, just like 2008 but in a much grander scale.

However, governments don't like giving up control. It'll be interest what they choose, what's right, or what's profitable.
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August 27, 2017, 11:21:19 AM
 #23

Will countries that are early to adopt and allow Bitcoin be able to turn this into an economic advantage to them where they're better off than before?

In my opinion, yes. Bitcoin is going to be the future. Any country that have looked into the future instead of sticking to what's there in the past have been proven to be successful, whether it's the industrial revolution, the internet, etc. etc.

By adopting i assume that you mean that they are legalizing bitcoin, which imo benefits everyone. The citizens will have the ability to trade globally without any sort of limitation that currently the banking system has, the big banks will be pressured into offering a better service overall, and global trading will thrive.

These are merely short term benefits. Long term benefits are plentiful.
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August 27, 2017, 11:31:36 AM
 #24

I do not think that bitcoin can improve the economy of the country because it is simply a currency, and not a scheme for the economic activities of the country. The economy can only be improved by the introduction of other laws.
If bitcoin is capable of being inaugurated by every country I think bitcoin can change the system of the economy, Because the bitcoin role is created for alternative payments in the form of digital currency, and many people are exploiting the presence of the bitcoin feature.
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August 27, 2017, 11:40:55 AM
 #25

I don't think it will directly affect the economy of the early adopting country unless and until the volume of such crypto currencies creates a threat for the fiat currencies (it won't happen anytime in at least next 100 years). Yes, it will help the individuals and companies which are trying to get involved with the crypto/blockchain technologies in order to en-cash the global opportunities. Technically, I don't see any direct benefit for the country other than restricting usage of it for illegal activities.
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August 27, 2017, 01:38:58 PM
 #26

It depends on the country whether it is in the position to accept it as primary currency or not.  Cheesy
Due to volatile nature of bitcoin it won't do any good to countries whether they accept it as early birds or not. Just imagine the example of bitcoin being legalised in the Japan and Australia countries, what has this brought to them? It's nothing, the bitcoin is still working the same way as it was used to before. These countries accepting it legal is almost the first event in the bitcoin currency but it's just another currency for them. Neither their local currency increased in value nor bitcoin was out of the box for them.


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August 27, 2017, 01:52:39 PM
 #27

Will countries that are early to adopt and allow Bitcoin be able to turn this into an economic advantage to them where they're better off than before?
I think yea, because Bitcoin is good for countries economies because it is a fresh flux of investments if they are correctly regulated and directed.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, and it can give a good punch to start-ups growth.and no doubt there will be a tax that is applied  Grin
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August 27, 2017, 02:02:21 PM
 #28

Will countries that are early to adopt and allow Bitcoin be able to turn this into an economic advantage to them where they're better off than before?

Economics advantage? yes
Bitcoin is a precious digital currency which the value increases over time, if a country legalize bitcoin as a legal payment such as in Japan, it's makes people easily transact bitcoin without no doubt, more companies and businesses will accept bitcoin as well and cause more bitcoin circulated in their country.
Citizens will get many benefits from bitcoin in circulation which affected economics indirectly.
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August 27, 2017, 02:05:42 PM
 #29

I think this is like us people. The first ones to embrace bitcoin are reaping the high valuation that it had. Same with the countries, those who start  understanding about cryptocurrency, blockchain and other things related to this world, will always have more knowledge, and better possibilities to get benefits from it.
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August 27, 2017, 02:25:09 PM
 #30

I think this is like us people. The first ones to embrace bitcoin are reaping the high valuation that it had. Same with the countries, those who start  understanding about cryptocurrency, blockchain and other things related to this world, will always have more knowledge, and better possibilities to get benefits from it.
for sure they have this edge since they can maximize earnings from this system they can play with it too we cant except US that its already using the
system in their economic system though they still not giving their position but for sure they already taking advantage.

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August 27, 2017, 02:26:16 PM
 #31

I'm sure a very good idea to adopt bitcoin in a country. if it happens then it will bring a good change for its citizens.
As in this forum, before I know the bitcoin and this forum, my economy can be said bad. But after I got to know him very much brought change and profit to my economy and my life.


Of course the early birds are always good and i wouldn't be surprised in a few years time we'll all be fine to see the impact of Bitcoin in some of these countries that have somewhat accepted and legalized Bitcoin.

Its not the country or the state itself that would reap the benefits, but the people themselves. Think of the situation of Venezuela where inflation is at its worst. If the people start using BTC, the people get the benefits but the government itself continues to suffer, and I couldnt imagine a country's government dropping their power to mint to support a cryptocurrency they cant control. It would be giving up a whole lot.
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August 27, 2017, 06:11:02 PM
 #32

I do not think that bitcoin can improve the economy of the country because it is simply a currency, and not a scheme for the economic activities of the country. The economy can only be improved by the introduction of other laws.
bitcoin is very important for the economic life of a country because it is providing a lot of profit to the country that has been legalized the bitcoin so bitcoin can make a lot of change in the income of a simple accepting countries. Bitcoin is not just a currency but it a complete setup that is increasing day by day it is reducing the unemployment by providing good income to the unemployed people so for me it is very important for every country.

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August 27, 2017, 06:19:36 PM
 #33

Will countries that are early to adopt and allow Bitcoin be able to turn this into an economic advantage to them where they're better off than before?

I think yes. Everything is grounded. Accepting Bitcoin early will enable that country to have a solid foundation for Bitcoin and digital currency. In addition, the growth of Bitcoin will also affect the economy as it has become part of the national economy.

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August 27, 2017, 06:57:13 PM
 #34

Yes I think those countries that were ahead of other countries could get more economic benefits from BTC once it will be accepted in one's country because by then they have an advantage compared to those countries who were late in adopting bitcoin. Just like those people who bought bitcoin on 2009 had more advantage than those who just bought their coin this year, that's just the same thought.
That’s pretty obvious those countries who have realized and accepted the potential of bitcoins about stabilizing and improving their economy, they are going to enjoy more advantages than those countries who have not yet accepted bitcoins. The former ones are going to have richer and financially stable people than latter ones.
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August 27, 2017, 07:03:26 PM
 #35

I believe that the countries that adore bitcoin earlier will be benefitting big from btc. The reason I suggest is based on the experts predictions found on several articles. Second thing is that, the future world is gonna depend on digital currency. So the early adopters will be serving as the leader and their country serves as the hub for digital currency market.




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