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Author Topic: Countries with weak economies can use cryptocurrency instead the dollars.  (Read 1166 times)
marielbeckham
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January 23, 2018, 10:05:07 AM
 #41

I'm afraid it won't be implemented in such countries.

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January 23, 2018, 10:13:00 AM
 #42

Сильные страны живут за счет слабых стран.
Если переходить от доллара к криптовалюте, то ФРС потеряет свои позиции в мире.
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January 23, 2018, 11:29:51 AM
 #43

Maybe it is a possible thing to be happen if the government really eager to have crypto currencies for them.

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January 23, 2018, 12:20:55 PM
 #44

I'm afraid it won't be implemented in such countries.

Its too risky to depend on cryptocurrency and I don’t think government will really do this. We all know how volatile this market and profit is not guaranteed. In a third world country people can use cryptocurrency to improve their own lives and make a better their future bright.

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January 23, 2018, 12:25:03 PM
 #45

I'm afraid it won't be implemented in such countries.

Its too risky to depend on cryptocurrency and I don’t think government will really do this. We all know how volatile this market and profit is not guaranteed. In a third world country people can use cryptocurrency to improve their own lives and make a better their future bright.

You have a point. Well if ever this will not happen then there is nothing to worry because we can still earn good money even it will not happen.

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January 23, 2018, 01:15:26 PM
 #46

I think that would take a lot of time for implementation, knowledge of every people on that country about cryptocurrency and to begin with there should enough money of every people to invest on what cryptocurrency they will favor. There are many countries emerging to support it and hope in the coming years little by little it will be used by anyone in the world.

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January 24, 2018, 04:10:45 PM
 #47

In my own opinion, countries with weak economies can use cryptocurrency than dollar because of it's value and it can be use to change the countries' status, from weak to strong.

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January 24, 2018, 04:29:26 PM
 #48

Using crypto currency as reserve for countries with poor economy cannot
be a guaranteed solution to economic viability and stability considering the
high volatility of crypto currencies.Hence, a planning government need not
use such platform as a guaranteed reserve  for its economic stability.
You can only invest and trade in crypto currency with a budgeted amount.

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January 26, 2018, 08:07:59 PM
 #49

1. Cryptocurrencies Can Reduce Remittance Fees to Developing Nations.
2. Cryptocurrencies Can Give Marginalized Individuals Greater Access to Banking
3. Some Theorize that Cryptocurrencies Can Help to Reduce Corruption
4. Cryptocurrencies Have the Potential to Help Those Who Need it Most


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January 26, 2018, 09:27:38 PM
 #50

There’s is a different pressure that this country may face when they use cryptocurrency than dollar that most countries opposes and the financial sector is critically affected. It will affect the economical connection to the rest of a much powerful first world investors that will look this move as a bad sign. I’m not against it, if this will help that particular state or country but reality is, politics works beyond jurisdiction if money is involved.

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January 27, 2018, 03:13:39 PM
 #51

I don't know which helped the international monetary Fund. Therefore, the opinion Christian Lagarde is not my authority. We cannot achieve consensus within the community. The management of the country's economy even more difficult. The use of cryptocurrency is only possible on a primitive level. The state can use it for good or to declare war on bitcoin. But this is the worst option. In war there are no winners. To lose the income.


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January 27, 2018, 06:15:50 PM
 #52

I don't know which helped the international monetary Fund. Therefore, the opinion Christian Lagarde is not my authority. We cannot achieve consensus within the community. The management of the country's economy even more difficult. The use of cryptocurrency is only possible on a primitive level. The state can use it for good or to declare war on bitcoin. But this is the worst option. In war there are no winners. To lose the income.

I think I can explain the whole thing to you. Christian Lagarde and the IMF at large don't care which currency or cryptocurrency a government may choose to use as their reserve currency as long they don't stick to gold. The real owners of the IMF know what's what, they know that Bitcoin and the rest of the pack are not a danger to them as well as international bankers because gold is the only true equalizer. Qaddafi was killed when he had tried to start the gold dinar, a reserve currency for Africa and beyond.
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January 27, 2018, 09:52:36 PM
 #53

It's upon to each country, it's possible, and only advisable if the country has nothing to lose. Bitcoin as reserve unit is too unstable. I believe the main idea of a reserve unit is to have stability on long term, something that Bitcoin doesn't guarantee us. What would be a smart idea for weak economies is to use Bitcoin as reserve unit, but not only Bitcoin, splitting the total budget among some investments. Like 10% in BTC, 60% in Dollars, 20% in Gold, 10% federal securities...

Decreasing risks like an investor do on his personal life.

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January 28, 2018, 07:41:15 AM
 #54

It's upon to each country, it's possible, and only advisable if the country has nothing to lose. Bitcoin as reserve unit is too unstable. I believe the main idea of a reserve unit is to have stability on long term, something that Bitcoin doesn't guarantee us. What would be a smart idea for weak economies is to use Bitcoin as reserve unit, but not only Bitcoin, splitting the total budget among some investments. Like 10% in BTC, 60% in Dollars, 20% in Gold, 10% federal securities...

Decreasing risks like an investor do on his personal life.

Government reserve funds aim at preserving value not so much increasing it. That's basically why developing and wealthy countries like China, Russia, India are huge buyers of physical gold. They know that when there is no more IMF, dollar and bitcoin, gold will still have value. The US may declare some country's holdings of US securities as illegal or just freeze them like it happened to Iran's dollar reserves. But they can't declare illegal gold. And even if they tried, that would only "make gold great again"!
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January 28, 2018, 07:29:22 PM
 #55

В мире золота всего на 1-1,5 триллиона долларов.
Физического золота, а не бумажного золота.
Это в 10 раз меньше, чем надо мировой экономике для функцилнирования.
оборот денег (фиата) в мире более 10 триллионов долларов в год.
поэтому надо будет уеличивать цену золота в 10-15 раз или опять выпускать трежерис на золото.

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January 29, 2018, 04:44:01 AM
 #56

I think bitcoin can help the country with have a problem with economies, in bitcoin people can do investment for long term, can do campaign, etc.
Bitcoin already change the people life, they can help their family, friends and the others. Bitcoin not stable yet, because of that the value still profitable more than dollar/gold. So bitcoin still best investment.

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January 30, 2018, 10:09:09 PM
 #57

It will be better for them to understand the future value  of technologies,Just imagine there are projects which cost milliard of dollars for example lets get google,It’s price is 700 billiard dollar as i remember  and there are countries which have 2-3 billiard $ in whole reserve,this is a very good example how goverments can develope economical situation in their countries,so the  technology is the future for countries with weak economies,its about not about only blockchain technology and not only bitcoin or another cryptocurrency.As we,As goverments need timely implementation of blockchain technologies for their progress...

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February 18, 2018, 07:42:46 AM
 #58

The question is what cryptocurrency is suitable for that?Feeless and a very fast transactions is what bitcoin should have to be able to help them.
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February 22, 2018, 08:50:52 AM
 #59

I'm interested in how this can be applied into practice and within what period it can gain success as it is quite difficult to do this in such a situation.

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February 22, 2018, 10:26:15 AM
 #60

Yes cryptocurrency would be a good reserve for a country, but acquisition of btc or other cryptocurrency in the first place would require a lot of money. And a currency/investment with fluctuating value would not be the best option for them.
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