Bitcoin - Can it boost or break a countries economy?

[Vishnu.Reang]

I think the government is not afraid of bitcoin. But because they don't want any other currency that can change their country's economy. In fact, cryptocurrencies are a free type of money and no one can control them. So the women themselves will not benefit when their people use crypto. Because we don't have to pay taxes when dealing with the government

Countries where the economy is heavily manipulated by the government will be less willing to allow the usage of cryptocurrency. China is a perfect example for this. The Chinese economy is heavily rigged, and the stocks are overpriced by a factor of 2 or 3 times when compared to the same in the neighboring nations. On the other hand, countries with strong and healthy economies (Japan, Switzerland.etc) are more tolerant about Bitcoin.

[plast555]

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 think the government is not afraid of bitcoin. But because they don't want any other currency that can change their country's economy. In fact, cryptocurrencies are a free type of money and no one can control them. So the women themselves will not benefit when their people use crypto. Because we don't have to pay taxes when dealing with the government

On the contrary, they are afraid of Bitcoin.
Because most states are integrated into capitalist economies. And the most powerful source of income of these economies banks. Bitcoin completely eliminates the functions of banks. It destroys their high commission rates, bureaucracies, exploitation of people.
Un-exploited workers mean the destruction of multi-millionaires, bureaucrats.

[Silberman]

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 think the government is not afraid of bitcoin. But because they don't want any other currency that can change their country's economy. In fact, cryptocurrencies are a free type of money and no one can control them. So the women themselves will not benefit when their people use crypto. Because we don't have to pay taxes when dealing with the government

On the contrary, they are afraid of Bitcoin.
Because most states are integrated into capitalist economies. And the most powerful source of income of these economies banks. Bitcoin completely eliminates the functions of banks. It destroys their high commission rates, bureaucracies, exploitation of people.
Un-exploited workers mean the destruction of multi-millionaires, bureaucrats.

Bitcoin is a game changer, banks thought they were impossible to replace and they're finding out that is not the case and they are angry about it, it is obvious that when a new technology appears that is as powerful as bitcoin there are going to be winners and there are going to be losers as well and all of those people that are powerful do not really want to give that power away and they will do everything they can to resist the bitcoin revolution.

[meliodas]

Bitcoin will not break any country's economy because bitcoin will actually help them to maintain a certain amount of their money since bitcoin holds its value and it doesn't lose value since it has a limited amount of supply. Bitcoin will also help them by giving them an idea on why it is good to have a blockchain technology in almost all the things because of the security and convenience.

[styca]

Most countries are in full control of their own monetary policies and financial systems.

I don't know that they are. I think governments are quite constrained in what they can do. We live in a global economy, every nation is tethered to every other nation, there are no isolated economies. The world is dominated by multinational companies. The financial crisis of 2008 had an effect on every economy because they are all linked. If the US crashes, Europe doesn't escape unscathed, neither des China, Russia, Japan, and so on.

So bitcoin is global and borderless just as multinationals are global and borderless. The difference with crypto is that its decentralised. You don't have a few multi-billionaires deciding to skim off huge profits and let the rest of the world burn. Like it or not - and some people won't - bitcoin is a brake on the selfishness and rampant avarice of modern capitalism.

[Razick]

Bitcoin can boost the country's economy or it can break a country's economy, depending on how they manage their investment. If they try trading it or don't take care of it then they could lose a fortune. Alternatively, they could get hacked by different foreign nation and lose their investment money, which could cripple their economy.

[meliodas]

Bitcoin can boost the country's economy or it can break a country's economy, depending on how they manage their investment. If they try trading it or don't take care of it then they could lose a fortune. Alternatively, they could get hacked by different foreign nation and lose their investment money, which could cripple their economy.

I don't think that a country will try do some trading with bitcoin since they are just diversifying their money into different investment. For sure, they will just store their money in bitcoin and keep them at a safe place and the government or a country is not a dumb to get hacked so they will probably store it in a hardware wallet.

[Jorge158]

Bitcoin is not meant to break the economy of any country but rather to help raise the economic status of a country as it gives the people financial freedom and independence. This financial freedom and independence is made possible through the decentralized nature of Bitcoin which grants the users the total control over their own transactions without any third party interruptions.

[Bitfling]

Bitcoin is not meant to break the economy of any country but rather to help raise the economic status of a country as it gives the people financial freedom and independence. This financial freedom and independence is made possible through the decentralized nature of Bitcoin which grants the users the total control over their own transactions without any third party interruptions.

In my opinion, Bitcoin was created as a peer to peer payment tool based on network transparency so it is difficult to manipulate. If Bitcoin is used as a payment tool, I don't think it will disrupt the economy because a country must have its own currency and Bitcoin is only a complement to this digital age.

[micher143]

Bitcoin is not meant to break the economy of any country but rather to help raise the economic status of a country as it gives the people financial freedom and independence. This financial freedom and independence is made possible through the decentralized nature of Bitcoin which grants the users the total control over their own transactions without any third party interruptions.

In my opinion, Bitcoin was created as a peer to peer payment tool based on network transparency so it is difficult to manipulate. If Bitcoin is used as a payment tool, I don't think it will disrupt the economy because a country must have its own currency and Bitcoin is only a complement to this digital age.

I disagree to this, if we used it as mode of payment the government will not get any data out of it, our GDP and GNP will not be affected if there's a massive use of cryptocurrency as mode of payment, I think if they regulate it then the cryptocurrency will not do any harm to the economy, but it will defeats the purpose of the bitcoin which is decentralization.

[marcuslong]

Bitcoin is not meant to break the economy of any country but rather to help raise the economic status of a country as it gives the people financial freedom and independence. This financial freedom and independence is made possible through the decentralized nature of Bitcoin which grants the users the total control over their own transactions without any third party interruptions.

If all of us use bitcoin as a mode of payment and the government didn't regulated it. It will break the economy of the country.

Yeah it's true that it gives financial freedom and independence but how government will gain from it.

[jaocoincrypto18]

Most of us believe that Bitcoin will help the economy to become strong and stable like helping to reduce the unemployment which is the most common problem of all nation. Once the unemployment will reduced it will make the purchasing power of people to become strong making their economy to become strong too.The country of Valenzuela is in economic crisis now and they are Crypto supporter too in which we can observe if Bitcoin will help their economy or not.

[thisappointed]

Most of us believe that Bitcoin will help the economy to become strong and stable like helping to reduce the unemployment which is the most common problem of all nation. Once the unemployment will reduced it will make the purchasing power of people to become strong making their economy to become strong too.The country of Valenzuela is in economic crisis now and they are Crypto supporter too in which we can observe if Bitcoin will help their economy or not.

But the Government will never want something that will not give them profits, there is a lot of corrupt politicians who are robbing the people's money secretly. Corrupt politicians are worst than a thief, the thief will rob you then run, and the corrupt politicians will run first before they rob something from you. I don't know if this will happen someday that the Government will adopt cryptocurrency and will make a cashless society, but if it is going to happen, then we are up for a great run and new start for new evolution.

[Polo7]

Bitcoin Can not Boost or Break Country Economy!

Your question is not Logically correct!

[crutu]

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?

maybe the government is worried if bitcoin is misused by its users because as we know bitcoin is very vulnerable to money laundering or very easy to use to hide money from proceeds of crime. besides that the government cannot guarantee if bitcoin is safe to be used as an investment asset

[Dreamr]

I think bitcoin can only boost the economy of a country. What I mean by that is bitcoin can help boost the economy through collecting tax from individual traders and companies as well and I see no way for bitcoin to break the economy of a country unless through looting by top government officials and that's not bitcoin, that's called corruption.  

[joshv06]

I think bitcoin can only boost the economy of a country. What I mean by that is bitcoin can help boost the economy through collecting tax from individual traders and companies as well and I see no way for bitcoin to break the economy of a country unless through looting by top government officials and that's not bitcoin, that's called corruption.   

I don't know what is your point about bitcoin collecting tax. Bitcoin cannot collect tax but the government officials can tax the people who uses cryptocurrency in their country. Cryptocurrency taxing is already happening in some states and it is a good move because it is a sign that the government are also paying attention to cryptocurrency.

Exactly if the same thing happens in the countries who have banned crypto will get benefitted. The government as well as their people's, well this will boost the countries economy too. Political parties have banned this digital currency for their good will. Government administrations need to understand that this is very unique and make this legal service to benefit their own people.

[Silberman]

Bitcoin Can not Boost or Break Country Economy!

Your question is not Logically correct!

I disagree, bitcoin can boost the economy of a country by allowing people to transact more easily among themselves and when you add that the fees that you need to pay to make a transaction are lower than what you need to pay to a bank this could incentivize free trade in a country, however it can also cause problems especially to the government because as we know they cannot control bitcoin and it is likely that they would receive less taxes and as a result of this it will force them to reduce their size or to print more fiat to sustain the current size of the government.

[HarmonyA]

Bitcoin can boost an economy. Maybe the reason why some countries are being careful about implementing it full acceptance is because of their use to the traditional system, and to regulate financial crime. Because, within the twinkle of an eye, criminals could cripple their economy. So we shouldn't rush such countries to adopt bitcoin because we should trade with caution. Every nation is sovereign and their decisions should be respected.

[boltz]

For one none of them. It cannot boost economies to a big level because everyone is afraid to make it an official currency as they still believe Bitcoin is being used more to crimes, drugs and illegal stuff which is not the case anymore. It cannot break the economy because its not being directly involved into the financial industries so for now Bitcoin has a grey area regarding this situation.