Countries with weak economies can use cryptocurrency instead the dollars.

[TrumpD]

I do not this is entirely true. Countries with weak economies base their local value currency on those countries with strong economies such as USD, EUR, GBP. At the end of they day because crytpo is not fully regulated with the local government and currency, payments in crypto will have to be converted into fiat money, and the local fiat value is based on "popular/strong" country currencies, and if crypto value falls against them, it will also affect the value of the weak economies.

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[Aikidoka]

How can a country with a weak economy system use a cryptocurrency instead of dollars? I do not what you meant exactly, but many countries will not allow that. If they are going to buy something, they will be only using dollars, not bitcoin or any other altcoin. And even if they want to use crypto, they need lots of money to begin with. We are talking about a whole country here, mate. So I think it is a bad idea.

[Rooster101]

There is a big possibility that bitcoin or any cryptocurency can provide the need for alternative money in many developing countries by using some kind of a mobile payment system that enables people to transact. The idea of cryptocurrency providing opportunities in countries with weak economies is already taking place in some impoverished nations like Venezuela and Zimbabwe. These nations with weak economies had already turned their attention to bitcoin for an innovative solution of payment.

[bocyaj]

It's  good idea.But practically it's difficult.Now the value of bitcoin is keeps moving,they can pay the transcation fee and all.Secondly,the country with weak economy will not have huge internet facility and Not all will have computer.By considering the transcation fee,facility of internet.It's very hard to implement.

[BitcoinGirl.Club]

I think cryptocurrencies could be used as a side currency and not the main currency because these are volatile and uncontrollable by anyone which do make them not the best unless the crypto price is based on something valuable to us like oil.

[jonland22]

weak economy = poor internet connection i supposed
We all know that cryptocurrency and the blockchain technology is a really promising technology that could bring innovation for every businesses but using it to boost the health of economy can't be simply done yet since countries with weak economy tend to have a internet connection issues plus the fact that not all can simply understand cryptocurrency.

[Tigorss]

Countries with weak economies and unstable currencies can use not the dollars but the crypto currency as a reserve unit. With such a statement made at a conference on the 20th anniversary of the independence of the Bank of England, the managing director of the International Monetary Fund (IMF) Christine Lagarde.

What do you think? Is it possible?

that's the right choice, I think bitcoin can be one alternative to overcome this, only the risk that if in the long term the country's currency can be very worthless because many people are switching to bitcoin

[Flor1982]

Countries with weak economies and unstable currencies can use not the dollars but the crypto currency as a reserve unit. With such a statement made at a conference on the 20th anniversary of the independence of the Bank of England, the managing director of the International Monetary Fund (IMF) Christine Lagarde.

What do you think? Is it possible?

I think that is correct because if the country will keep a huge percentage of Bitcoin it is like they also keep a huge percentage of dollars reserve because the value of Bitcoin currency is base on dollar value as the main currency of the trade therefore it is better for these countries to adapt and legalize Bitcoin as investment as it will reduce the unemployment and increasing the purchasing power of the people making the economy to become strong and stable.

[Lancusters]

Countries with weak economies and unstable currencies can use not the dollars but the crypto currency as a reserve unit. With such a statement made at a conference on the 20th anniversary of the independence of the Bank of England, the managing director of the International Monetary Fund (IMF) Christine Lagarde.

What do you think? Is it possible?

I think that is correct because if the country will keep a huge percentage of Bitcoin it is like they also keep a huge percentage of dollars reserve because the value of Bitcoin currency is base on dollar value as the main currency of the trade therefore it is better for these countries to adapt and legalize Bitcoin as investment as it will reduce the unemployment and increasing the purchasing power of the people making the economy to become strong and stable.

You're wrong. Recently, we saw how the price of bitcoin fell presumably after bitcoins were sold to the ruined mtgox exchange in the amount of 400 million dollars. On a state scale, this is a negligible amount. How can a state use such currency? The IMF was created in order to destroy the state. For this reason, Lagarde gives such bad advice.

[Irvinn]

Countries with weak economies and unstable currencies can use not the dollars but the crypto currency as a reserve unit. With such a statement made at a conference on the 20th anniversary of the independence of the Bank of England, the managing director of the International Monetary Fund (IMF) Christine Lagarde.

What do you think? Is it possible?

Yes, I think that this is quite possible. Countries with a weak economy, where inflation is too high, and the country's economy is unbalanced, can use the crypto currency, along with the use of its national money. In this case, bitcoin or other crypto currency will be able to protect citizens from inflation. However, in this case, the crypto currency can not completely replace the national money, there is a hidden danger to get under the influence of other countries, where such a crypto currency will be actively used.

[marielbeckham]

In my opinion, it's not so easy to gain this when we have a country with quite a weak economy.

[qwertyup23]

Countries with weak economies and unstable currencies can use not the dollars but the crypto currency as a reserve unit. With such a statement made at a conference on the 20th anniversary of the independence of the Bank of England, the managing director of the International Monetary Fund (IMF) Christine Lagarde.

What do you think? Is it possible?

I do not fully agree.
Having a weak economy has its negative implication towards its development in infrastructure, innovations in technology, and corruption. Assuming that a country is underdeveloped, its resources are allocated into an hierarchy of needs, which I believe that cryptocurrency is under. They must first tackle the the issues in their country which are more prevalent, rather than changing their payment system. In the event that they focus into changing their payment system, this will lead to catastrophe in the market, considering that most hegemonic countries are against the utilization of bitcoin.

[rolerVX]

Haha it seems weird in my imagination.
There are a lot to experience before it come to pass. The reason is people are oriented by the face of dollar on the planet earth. It is not too easy to cut this way of uses. Everyday life dollars fall on the way side by side of the earth corner dollars word in there. If bitcoin take place there are too many things to fix before it will come to the stream of source in the business activities in all the country.

[greeklogos]

Well, it may seem logical, cause of the use of the US dollars support the economic only of the United States. But laws in every countries are different, by some laws bitcoin cannot be counted as payment instrument. I think those countries who use USD have some benefits from the USA, that's why they can't stay away the use of $ so easy as it may seemed to be done.

[fritzbird]

Weak or troubled economies are already indications that they need relevant and
effective methods to combat and elevate their financial situation. Cryptocurrencies
on their better days are quite profitable but mostly short-lived. I think a weakened
economy diverging into crypto for help or aid is gonna spell out disaster.. I don't
know but no government or country should take such a dive with a risks as wide as
the equator. Good thought though, admirable approach to crypto as solutions but
unapplicable for the time being.

[Heat and rum]

Difficult, if a country has a weak economy, there will be little cash around to buy BTC to begin with. You may also consider that a poor country will have poor infrastructures, I mean poor phone networks, and slow Wi-Fi.

it was the first thing I sterted to think about after reading. Weak economy often equals weak infrastructure, bad internet connection and other suff. People in this countries hardly know what the hell is bicoin

[Universal pics]

I see the problem of initial purchasing crypto in such countries. Lack of money and low salaries can play their roles

[MCVXYZ]

Today,I think they need something like blended system...Everything has its own advantages and disadvantages.So Cash allows them to be precise about how much something is worth,It lets to use numbers to talk about real value. Of course,technology development means developed economy,but in this situation its not enaugh for countries like that, to improve their social-economical conditions,They need more activities in this sphere,more crypto projects and other...At this stage,In poor countries there is no need for trusted servers,They just need something simple for their own well-being.
I have seen many false opinions...Anyway,There is no exact answer,all countries are individually.

[richardsNY]

it was the first thing I sterted to think about after reading. Weak economy often equals weak infrastructure, bad internet connection and other suff. People in this countries hardly know what the hell is bicoin

That may apply to a large part of the people in such countries, but in current days it's almost impossible to not know what's going on with Bitcoin or crypto in general. Great thing with crypto is that for those who have enough knowledge in their own interest field, which could be a writer, coder, designer, artist, etc, can make that knowledge and skills be worth an income here. One way or another, these people will eventually be able to help themselves move further in life. If you surrender yourself to all the negativity and lack of opportunities in your country, then nothing good will ever come out of you as person. Those who are willing to take an extra step or two will be the ones who have the highest chances of leaving everything behind at some point.

[gala381]

If a country has weak economy then no currency (including crypto currencies) will improve its economic condition. Therefore crypto cannot help much a weak economy, in principle at least.