Bitcoin - Can it boost or break a countries economy?

[yoseph]

Bitcoin can surely boost economy of a country

By regulating bitcoins so that people can pay taxes when they convert their bitcoin into fiat just like gold, I believe that the economy of the said country would be improved considering the revenue they get from the taxes being paid.

[Paka1]

Bitcoin can help boost one country, it will help the country's people to become financially stable.  It will be a good opportunity to help those in need. With the help of bitcoin everyone would be benefited, when someone has a great income out of it they would eventually help the economy from booming like venturing new business that could give job opportunities to jobless people, so it won't break countries economy rather it will be an opportunity to grow.

[maculeth]

so far, bitcoin does not affect inflation and deflation, nor does it affect the price of staples in the country. but the benefits and benefits of bitcoin investing are very profitable. so bitcoin can greatly help the country's economy.

[kive2k]

I think the countries should learn how to work with bitcoin and crypto currency as a whole and then it will not do any harm to the state economy, and even on the contrary will bring benefits.

[websoftwareengineer]

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.

In my own opinion, cryptocurrency can boost a countries economy today because japan is using it to improve their own country and it was not a bad idea because people in their country is having a wealthy life because of bitcoins.

[1Referee]

I think the countries should learn how to work with bitcoin and crypto currency as a whole and then it will not do any harm to the state economy, and even on the contrary will bring benefits.

Obviously, they won't do anything with Bitcoin itself. If governments stimulate Bitcoin usage and people utilize its currency aspect, it will be a severe loss for the government because their debt backed trash is no longer the main standard. Fiat is worth what it is worth because we all accept that we can exchange our money for something in return, and as long as people keep using fiat in that way, it will maintain its position in that regard.

What value will the dollar have when barely anyone is using it? Usage = value. Usage doesn't necessarily mean it solely refers to buying goods with your fiat, but the speculative aspect plays an important role as well. We made fiat what it is today, and we have the power to end its dictating position; the government won't ever be stimulating that.

[arthotdog]

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.

Personally i dont think this cryptocurrency can break economy's of every countries,because bitcoin has only one vision,and thats to enhanced the worlds economy and to help the world make life easy and reliability.

so far, bitcoin does not affect inflation and deflation, nor does it affect the price of staples in the country. but the benefits and benefits of bitcoin investing are very profitable. so bitcoin can greatly help the country's economy.

Good answer there mate,so far we only see the good effect of bitcoin in our countries so theres no doubt that only positive things are offered by this coin

[Samolet]

If people switched to cryptocurrency, then it would solve many problems: there would be a world economy and a world currency, but no one (no country) could influence it, no one could print more money, and to buy something, you would need to sell something.

[ismelda_ita]

I think their fear of bitcoin because they are afraid if people have turned to bitcoin then the traditional banks will not be used, and no more tax collection. so that the state does not get money coming from the community.

that is my opinion. sorry if I'm wrong

[doomloop]

I think the countries should learn how to work with bitcoin and crypto currency as a whole and then it will not do any harm to the state economy, and even on the contrary will bring benefits.

Bitcoin benefit the economy of a country and the financial situation of its people because the Bitcoin is open for all kind of people. Bitcoin will benefit the government if it adopt the Bitcoin for investments and transaction and moreover as payment method. This adoption will bring increase in the economy of a country by saving the amount or budget of government in the manufacturing of paper money.

[wewe123]

In my thoughts ,I believe bitcoin boost countries economy , because the bitcoin can help the people who are jobless , the bitcoin can help people the oppurtunity to join the global economy , through the combination of cellphones and internet they can join the bitcoin global community , this will help the economy of certain country.

[maloibtc]

I am sure that this will be a boost in the countries economy, those, which will accept it as a currency. As for me, this is obvious because crypto offers a lot of advantages for both traders, consumers, all people who like innovations

[trand]

Bitcoin can not. it is not being controlled by any government so that mean bitcoin can not affect the economic system of a country. Moreover, bitcoin is decentralized which means it can not play an important role in destroying the economy

[Vness10]

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.

Bitcoin give big boost in one country even government don't want bitcoin because it's big help to people to earn money in many ways. Bitcoin is decentralized so I think it cannot affect or bitcoin can't destroy the economic system of one country.

[dewi91]

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.

That sound easy but the reality is not as simple as we think because recently Zimbabwe declarate to ban all crypto currency activities, as we all know Zimbabwe is the country that has a bad economic situation but crypto still can't help their economy and finally they are decided to ban crypto currency.

[cexylikepie]

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.

No, at the begin, you do not understand the nature of cryptocurrency market and the Bitcoin value. You have a profit from an order bought Bitcoin at the low price and sold that amount at the high price. It is the truth. But, the person bought that amount at that price can have the profit if the price of Bitcoin decreases after you sold for this person??? Of course, never! So, the cryptocurrency market is simply a place to "exchange" money. No feature can create more money from this place

[Snaic]

If the crypto currency will go in the state as an alternative currency along with the usual national money of the state, it will strengthen the economy of this state. An example of this is Japan, where over the past year, the Crypto-currency increased the country's gross domestic income by 0.3 percent. This figure is not very large, but this is an indicator for the incomplete first year. There, the crypto currency was recognized as a legal tender only from April last year.
If the crypto currency is recognized as the main type of state money, then this will have a negative effect, since, having high volatility, it is able to deregulate the economy of any state.

[Choyor]

On the basis of Bitcoin has increased the economy of each country, every individual is domiciled in a country, if the individual uses Bitcoin then he will feel the influence of Bitcoin on the economic pinansial against him, can imagine if the majority of people use Bitcoin, that means the economy of a country will increase .

[Iyeman]

On the basis of Bitcoin has increased the economy of each country, every individual is domiciled in a country, if the individual uses Bitcoin then he will feel the influence of Bitcoin on the economic pinansial against him, can imagine if the majority of people use Bitcoin, that means the economy of a country will increase .

That's really unreasonably dumb statement you got there, how bitcoin even make people rich? bitcoin is so volatile that even if a government uses bitcoin it will face the risk of having loss by the volatility and it's really critical for country's economic to be stable.
Even I don't know how you really think bitcoin make everyone rich, that's just plain stupid I must say, bitcoin is just a currency or even many people consider commodity, not a magic that could turns people's wish become true.

[DiabolicAnt]

I think that it is capable of doing the very both things. But in the most occasions it should boost economics.