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Author Topic: What would be the possible impact of BTC in the economy of a country?  (Read 4008 times)
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October 21, 2017, 08:25:49 PM
 #21

I agree that due to Bitcoin unemployment would go down, people would start earning money many people think that the economic condition of the citizens would get better correct agree, but when people will only use Bitcoin and not their national currency wouldn't that affect the economy of the nation, the government would not collect the same amount of taxes as before in short the economy of the country could go down. That is what I think..

The fact that people don't have jobs has not much to do with BTC being in the economy or not. Just think about it for a moment. What are the reasons people can't find jobs? Usually the main reason is that economy is shit. If there are no companies willing to hire welders, if you add BTC to the mix new companies in need of those welders won't suddenly start to pop up. For them to appear there have to be contracts from governments/companies that are willing to buy their products and there have to be investors willing to put their money into the projects.


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October 21, 2017, 10:29:48 PM
 #22

I agree that due to Bitcoin unemployment would go down, people would start earning money many people think that the economic condition of the citizens would get better correct agree, but when people will only use Bitcoin and not their national currency wouldn't that affect the economy of the nation, the government would not collect the same amount of taxes as before in short the economy of the country could go down. That is what I think..

The fact that people don't have jobs has not much to do with BTC being in the economy or not. Just think about it for a moment. What are the reasons people can't find jobs? Usually the main reason is that economy is shit. If there are no companies willing to hire welders, if you add BTC to the mix new companies in need of those welders won't suddenly start to pop up. For them to appear there have to be contracts from governments/companies that are willing to buy their products and there have to be investors willing to put their money into the projects.


I think if a person do not have any day job then he cannot do arrangement for money to invest in bitcoin. because investment in bitcoin require a lot of money, i think for such people earning bitcoin through signature campaign and there are some other services where a person can earn some amount of bitcoin every week, and when they collect some money then they should invest it in bitcoin.
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October 21, 2017, 11:37:33 PM
 #23

Just wanted to know people ideas on what is the good and baf impact of BTC  in the economy of a country. I am glad to hear different people views regarding this matters and get some ideas from the tenured people  around these forum.


It can obviously give both good and bad effects.
A good effect would be the decreasing number of unemployment in the specific country. Because being a crypto man doesn't require much. It only requires a bit comprehension, intermediate english skills, and a hard working attitude.

The negative effects may be illegal laundering which cannot be traced, illegal transactions including drugs and and other crimes which again, cannot be traced. And tax evasion.

Those are what i think can happen in a country accepting cryptos.

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October 22, 2017, 06:33:43 AM
 #24

The good impact of bitcoin to the economy of the country is that it will open a brand new opportunity and jobs to its citizen, brand new development of currency systems to the establishments and corporations implementing the bitcoin or their own digital currency with the help of the blockchain technology. modernization of the currency structure of the state and produce job based on this new currency make the transactions and payment easier and more manageable.
The bad thing about this currency is the anonymity, if the government will completely legalize and adapt to this type of digital currency they need an implementation and restrictions towards the use of wallets and coinbase exchanges locally as this will be a tool to used to any criminal forms of activity and scammers. It is not yet stable, any day it will go up and down to its price making it not advisable to use it in everyday activities. Bitcoin is still an experimental currency but in the near future we will see that some countries will try to adapt to the digital coins.

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October 22, 2017, 06:52:59 AM
 #25

There can be both positive and negative effects to the economy. Positive effects include more tax revenue from the exchanges, creation of new jobs and the possibility of business ventures such as crypto-exchanges and investment agencies moving to that country. But there can also be negatives, such as the increased possibility of tax evasion and the usage of Bitcoins in crimes.

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October 22, 2017, 07:28:09 AM
 #26

There can be both positive and negative effects to the economy. Positive effects include more tax revenue from the exchanges, creation of new jobs and the possibility of business ventures such as crypto-exchanges and investment agencies moving to that country. But there can also be negatives, such as the increased possibility of tax evasion and the usage of Bitcoins in crimes.

I agree with you, not always technological advances give a positive effect on the economy of the country but always with negative effects, but if we see the bitcoin and the impact of its legalization, I think the positive impact. the legalization of bitcoin is greater than its negative effect and it seems appropriate if bitcoin is received in each country as an official means of payment in that country.

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October 22, 2017, 11:45:45 AM
 #27

No doubt, Bitcoin can have a major impact on a country's economy. If majority of people start using Bitcoin there will be a pressure on government to legalize it. As, we all know Bitcoin is a decentralized cryptocurrency so if legalized it can take over the centralized banks which will totally change the country's economic system upside down. It can also overtake fiat currency of a country. But if legalized it will also show some positive impacts on a country's economy by providing a good source of income to a number of people if taxes are also introduced with legalization. If there is no payment of tax from Bitcoin, there can be problem in revenue system.

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October 22, 2017, 12:24:04 PM
 #28

If there is no payment of tax from bitcoin, there can be problem in revenue system.

that is why it is not easy to regulate bitcoin in some states, Because it will only be the citizens will get rich and not the government it self. I mean it would be good it citizens are rich but the country's income wont change and their status wont be uplifted in some world organizations. Because depending on how much country earns, that how they could lend. And if they cant show big money, then they stay as lower class countries.
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October 22, 2017, 12:29:17 PM
 #29

Actually bitcoin and crypto currencies gives a big impact if all people using it,  since crypto currencies is not yet legalized then all the transaction cant be taxed and that can caused big impact for the country and now bitcoin had become headline news in a lot of country,  so I am sure there will be changes and regulation regarding to the crypto in the future

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October 22, 2017, 12:39:53 PM
 #30

Just wanted to know people ideas on what is the good and baf impact of BTC  in the economy of a country. I am glad to hear different people views regarding this matters and get some ideas from the tenured people  around these forum.
BTC is quietly rich people when you using of it, unemployed people have an income through with cryptocurrency society, why some people do work in here it because by the profitable source. Then therefore the ecomy of our country become less from jobless people got work in here.
However we have earned bitcoin without charging pay to our government and still the economy will remains.

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October 22, 2017, 12:52:23 PM
 #31

Just wanted to know people ideas on what is the good and baf impact of BTC  in the economy of a country. I am glad to hear different people views regarding this matters and get some ideas from the tenured people  around these forum.
Bitcoin has the big impact for us like providing our needs, extra job or income and to develop our economy to be the better county. Bitcoin will be the number crypto in the world it will go higher and higher. Bitcoin has also bad effect in our country, it might be used in paying bad things, drugs, gambling and so on.

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October 22, 2017, 03:15:45 PM
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Just wanted to know people ideas on what is the good and baf impact of BTC  in the economy of a country. I am glad to hear different people views regarding this matters and get some ideas from the tenured people  around these forum.
That depends on which side the country’s citizens are– whether they’re on the losing side or the winning side. To explain, what I meant to say is if the citizens of a country Investing on Bitcoin bare always losing, then it will affect the country negatively and the rate of their economy will be dropping to a lower level depending on how much the country is losing.

But if the citizens of a country keep on making profits from their Investment, then the country’s economy rate will be having a slight increase daily.
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October 22, 2017, 08:18:48 PM
 #33

Just wanted to know people ideas on what is the good and baf impact of BTC  in the economy of a country. I am glad to hear different people views regarding this matters and get some ideas from the tenured people  around these forum.
That depends on which side the country’s citizens are– whether they’re on the losing side or the winning side. To explain, what I meant to say is if the citizens of a country Investing on Bitcoin bare always losing, then it will affect the country negatively and the rate of their economy will be dropping to a lower level depending on how much the country is losing.

But if the citizens of a country keep on making profits from their Investment, then the country’s economy rate will be having a slight increase daily.
Statistics tends to keep events like that in balance. It's impossible for all citizens of a given country to lose on their investments. As people are trading some will profit from it and some will lose money by making wrong decisions. Bitcoin traders aren't making money only when the price goes up! Also, the more investors there are the longer it will take for a coin to lose value completely. There would be plenty of time to move your money somewhere else had the need arisen.

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October 22, 2017, 09:06:09 PM
 #34

The general impact of BTC to the economy can't be calculated. You should review every economy because most of them are different. For example if  the country accept bitcoin it may only benefit in future. But if it will accept BTC then the economy won't only depend on this current country but will also be affected by outer impact.

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October 22, 2017, 09:17:17 PM
 #35

The impact of BTC in the economy of a country would be something of stability and longevity. People and markets could turn to it as a safe haven of storing value.
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October 22, 2017, 09:39:48 PM
 #36

Just wanted to know people ideas on what is the good and baf impact of BTC  in the economy of a country. I am glad to hear different people views regarding this matters and get some ideas from the tenured people  around these forum.

The impact of Bitcoin on a country depends on the country in question.  For example, in a country with high inflation like Venezuela, the local fiat currency loses value as soon as you receive it and it keeps losing value. Citizens of that country could convert their government currency to fiat to not only hold value, but actually gain value.

Another problem in some African countries is that banks actually charge customers to hold their money. If citizens put their money in Bitcoin, they would avoid bank fees when storing their money.
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October 22, 2017, 10:28:20 PM
 #37

Just wanted to know people ideas on what is the good and baf impact of BTC  in the economy of a country. I am glad to hear different people views regarding this matters and get some ideas from the tenured people  around these forum.

Its so huge impact of btc in  terms of progress of economy in our country we remember young people now fresh graduate jobless but because of bitcoin they can support there daily needs they become entrepreneurs in their young age,so the economy affected unemployment will going down the crimes rates will down,the economy will bloom.the bad impact of btc is not regulated in government no tax collection.but maybe soon the  government legalized the crypto currency.

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October 22, 2017, 10:33:02 PM
 #38

Just wanted to know people ideas on what is the good and baf impact of BTC  in the economy of a country. I am glad to hear different people views regarding this matters and get some ideas from the tenured people  around these forum.

The impact of Bitcoin on a country depends on the country in question.  For example, in a country with high inflation like Venezuela, the local fiat currency loses value as soon as you receive it and it keeps losing value. Citizens of that country could convert their government currency to fiat to not only hold value, but actually gain value.

Another problem in some African countries is that banks actually charge customers to hold their money. If citizens put their money in Bitcoin, they would avoid bank fees when storing their money.
Really? That's ridiculously insane. Charging cutomers with their own account from the bank? Isn't it fixed amount once you become a member in their bank? That's not fair. Anyway,the possible impact of BTC in the economy of a country is of course the betterment itself to have a good economy and fair growth. Probably,many people will be good at business no matter what age they are. So it is getting a lot of privileges to be successful in chosen careers so definitely bitcoin has an impact to the economy of every country and individuals.


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October 22, 2017, 10:39:29 PM
 #39

Just wanted to know people ideas on what is the good and baf impact of BTC  in the economy of a country. I am glad to hear different people views regarding this matters and get some ideas from the tenured people  around these forum.

The impact of Bitcoin on a country depends on the country in question.  For example, in a country with high inflation like Venezuela, the local fiat currency loses value as soon as you receive it and it keeps losing value. Citizens of that country could convert their government currency to fiat to not only hold value, but actually gain value.

Another problem in some African countries is that banks actually charge customers to hold their money. If citizens put their money in Bitcoin, they would avoid bank fees when storing their money.
Really? That's ridiculously insane. Charging cutomers with their own account from the bank? Isn't it fixed amount once you become a member in their bank? That's not fair. Anyway,the possible impact of BTC in the economy of a country is of course the betterment itself to have a good economy and fair growth. Probably,many people will be good at business no matter what age they are. So it is getting a lot of privileges to be successful in chosen careers so definitely bitcoin has an impact to the economy of every country and individuals.
i really dont agree maybe the impact of bitcoin to the economy on a country depend on how open the people to welcome btc how they do and how they handle and believe in btc.because btc is just an instrument. If the people didnt believe on it bitcoin did not work or maybe its price and value will fall down if we really want to help our economy maybe helping btc to grow will be the best thing to do.because  btc can really help specialy to the ordinary people that lives in a simple life .

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October 23, 2017, 12:47:52 PM
 #40

Just wanted to know people ideas on what is the good and baf impact of BTC  in the economy of a country. I am glad to hear different people views regarding this matters and get some ideas from the tenured people  around these forum.
in my opinion, the impact of bitcoin for a country.
probably the first if for people who follow the development of bitcoin will have a positive impact such as having more profit than bitcoin. but if for the government it may be slightly detrimental in terms of taxes. because to my knowledge, the exchange of bitcoin does not use government taxes.

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