Bitcoin - Can it boost or break a countries economy?

[Leyss]

If you handle the bitcoin correctly, it can boost the economy of the country. This, for example, occurred in Japan, where the economy because of the recognition of bitcoin as a payment instrument increased by 0.3 percent. However, if bitcoin is recognized as the only means of payment in the state, in my opinion, because of its high volatility, it can unbalance the economy of any strong state. Therefore, bitcoin should be quashed as alternative money and then everything will be fine.
Some states are afraid to deal with crypto-currency, because it is difficult to control.

[BartS]

Most countries are in full control of their own monetary policies and financial systems. If a alternative currency is introduced, would this improve or reduce the efficiency of a country?

Will this remove their control or would it be just another payment option, like PayPal?

Why are governments so scared of Bitcoin, if they can regulate it's use. The first defensive tool seem to be banning the technology, which in my opinion should be the last resort. Should they not analyse the threat based on proper research and public participation. < like they did in Canada > and then make harsh decisions like this?

Why are they ignoring the advantages that this technology might bring and implement extreme precautions as a primary action?

Is Bitcoin really such a big threat to them or are they just misinformed on purpose? < influenced externally by people with hidden agendas >

Let's discuss this please.

I feel that they really think that bitcoin is a big threat to them and to be honest I cannot blame them, right now they have all the power of printing their own currencies, they can control the economy as they see fit, if they wanted they could crash the economy of their countries or in the case of the United States they could crash the entire economy of the world, bitcoin takes away that power in a way that not even gold could, and the reason is that at least with gold you can confiscate it if you find it, but with bitcoin you can see it that it's right there because you can see every transaction on the blockchain but you cannot take it.

[CryptoSmile]

Bitcoin under surveillance and government regulation will certainly help improve the economy of a country's government as it will be one of the sources of state income through taxes imposed on bitcoins and bitcoin users. but if bitcoin is not supervised by the government and allowed to exist without clear governmental rules, it will certainly be very detrimental and could destroy the economy of a country where the potential for abuse of bitcoin by irresponsible people for their interest, such as money laundering , the financing of terrorism activities, the purchase of drugs and so on that are negative and contrary to the rule of law existing in a country.

[komrobert]

For know, Bitcoin don't have so big price and market cap to influence the economy of full country. Maybe some small poor country, but not big.

[Faxmate]

Governments may have more pressing matters than bitcoin to worry about it seems. As our government says, bitcoin is not "yet" a prominent threat to our economy so they are leaving it alone for now.

Like people, governments of countries can also take benefit of Bitcoin to boost up their economies on big level. This increase in the economy of a country will lead the country over other countries. This country will afford to sign big agreements that were out of the reach before. If the country adopts Bitcoin then the country will save the costs use in the manufacturing of paper money. As a whole Bitcoin is the most advantageous currency in the world.

[FurDich]

Governments are afraid to introduce bitcoin because of its too unstable prices, it will be very inconvenient to use. Also, in too poor countries, there is no system for calculating electronic money. This requires a lot of time.

Actually they are wrong. Bitcoin can actually boost  our economy especially on those country who are suffering from poverty. Eventhough its price is unstable but just trust bitcoin's capability to help people. Bitcoin had change a lot of lives from poor to rich. If a poor person is willing to do anything just to change his/her status of living then he/she can make it through bitcoin.

[BartS]

Like people, governments of countries can also take benefit of Bitcoin to boost up their economies on big level. This increase in the economy of a country will lead the country over other countries. This country will afford to sign big agreements that were out of the reach before. If the country adopts Bitcoin then the country will save the costs use in the manufacturing of paper money. As a whole Bitcoin is the most advantageous currency in the world.

They could benefit with bitcoin if they fully adopted it, but they do not want that because they feel they will lose a significant portion of their power if they did so, if governments were honest and had the best interest of people at heart they will adopt bitcoin, but you must understand that once a government is established they only care about that but perpetuating themselves, they only care about the benefits they can get extract out of the citizens of their country and to keep their privileges no matter what and if that means they need to sink the country they will do it.

[Indai24]

Like people, governments of countries can also take benefit of Bitcoin to boost up their economies on big level. This increase in the economy of a country will lead the country over other countries. This country will afford to sign big agreements that were out of the reach before. If the country adopts Bitcoin then the country will save the costs use in the manufacturing of paper money. As a whole Bitcoin is the most advantageous currency in the world.

They could benefit with bitcoin if they fully adopted it, but they do not want that because they feel they will lose a significant portion of their power if they did so, if governments were honest and had the best interest of people at heart they will adopt bitcoin, but you must understand that once a government is established they only care about that but perpetuating themselves, they only care about the benefits they can get extract out of the citizens of their country and to keep their privileges no matter what and if that means they need to sink the country they will do it.

Bitcoin for me can boost country's economy only if government accepts bitcoin. However until now only few countries acknowledge bitcoin and majority of them are not, so for me I don't think it can boost our economy.

[crazymelons12]

I see this idea as an ooen ended question, something which gives us a not so clear stand point. The reason why I said so was because it depends on how the country is gaining or perhaps is losing. Consider bitcoin as real money and if such country doesn't have earners or gatherers of bitcoin they they will end up just like giving money thus creating loses for their economy.

[BitcoinNational]

Bitcoin is just a next step in the economy. I don't think it can boost or break the economy. I mean some companies will take advantage of it.  Government are very precautious, as the price is very unstable. But they are in the good process to legalize it in lots of countries. It is a really big change and it takes time to measure the pro and cons of this new economy.

[Herbys]

Bitcoin under surveillance and government regulation will certainly help improve the economy of a country's government as it will be one of the sources of state income through taxes imposed on bitcoins and bitcoin users. but if bitcoin is not supervised by the government and allowed to exist without clear governmental rules, it will certainly be very detrimental and could destroy the economy of a country where the potential for abuse of bitcoin by irresponsible people for their interest, such as money laundering , the financing of terrorism activities, the purchase of drugs and so on that are negative and contrary to the rule of law existing in a country.

I agree that if you legitimize Bitcoin, you can take taxes from him, but will someone compensate for losses if someone takes them while buying Bitcoin. Such people will be one hundred percent. If you charge taxes, there must be insurance.
As for funding, I'm not sure, there's more cash in the suitcases. Who wants to deal with the conversion 

[Situk brok]

If I think this bitcoin can boost the economy of a country because of the economic progress of a country seen from the already prosperous community and adequate infrastructure, if many people who already know bitcoin and many who already have income from bitcoin then the community will prosper and will help countries to be better economically.

[drlederman]

My theory has been that bitcoin could be an effective means of evading capital controls as long as so few people used it that it has only very trivial impact. Well before it were to have any significant impact, governments would ban it and be successful enough to keep its impact small.

[Stephen1989]

Bitcoin can boost a countries economy because it will help the people to earn money and the people will use those money to spend on the things that they want and those profit of the shop or the store that the people used to buy things with. Then it will boost the shop or the store's income and the tax of that store will go up too and it will help the country to have a better income which will help itself to improve its system and economy

[Seundavid]

Yes bitcoin can boost economy of a country because  there are so many ways it has helped people in term of earning money.

[Snaic]

If the crypto currency, including bitcoin, will go in the country as an alternative to the country's main paper money, then the crypto currency will be able to contribute to the country's economic growth. This we can see in the example of Japan, where such use of the last year's crypto currency gave an increase to the economy of the country of 0.3 percent. However, if a state takes a rash step and recognizes bitcoin or any other decentralized crypto currency as the main means of payment, then, because of their high volatility, the crypto currency is able to quickly deregulate the economy of any state.

[putra daerah]

Of course,it boost a countries economy.Because it always add to national income.For it,many unemployed can get some work to do and income a lot that they can continue their basic needs,education,savings etc.It also increase the llevel of living standard that need for a country.

I agree with your opinion that bitcoin can boost the country's economy.
with the presence of bitcoin every person who can give their life, save up etc.
Even indirectly reduce the number of unemployment numbers in the country.

[Seunbabatunde]

Bitcoin can surely boost economy of a country

[Ryker1]

Bitcoin can boost a countries economy because it will help the people to earn money and the people will use those money to spend on the things that they want and those profit of the shop or the store that the people used to buy things with. Then it will boost the shop or the store's income and the tax of that store will go up too and it will help the country to have a better income which will help itself to improve its system and economy

It can either boost the economy, or break the economy. I agree with you, bitcoin can boost the economy because people will earn a lot of money when the price rise, they can buy expensive things at the store that will cause a great circulation of money, and income also in the country. But at the same time, it can break the economy, because the price of bitcoin is not very stable. We can't really predict if it's gonna boost, or break the economy system because it is volatile.

[Renampun]

many countries are just afraid of the things that to date I do not think it's happening yet, they're afraid Bitcoin is used as terrorist financing, money laundering, and corruption.
if closely monitored and continuously developed, Bitcoin can help the economy in a country, helping to reduce poverty levels.
but the government in the average country only predicts the negative side of Bitcoin alone, not with its positive side.