What would be the possible impact of BTC in the economy of a country?

[hibiscus]

     According to my concept the possible impact of Bitcoin of a country will be positive Bitcoin is the prominent cryptocurrency which is operated through internet and it is useful to the global community for their investment and day trading . Bitcoin is a strong currency that will not effect inflation of a country in such condition Bitcoin can be utilized as an alternative to withstand the economic recession . If we look to the past we can find that Bitcoin has been useful for many countries like Greece,Brazil,Japan etc ;faced  recession Bitcoin helped to get relief from the poor economic situation.

[dekafee79]

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 views regarding this matters and get some ideas from the tenured people in this forum. Your opinions/views are highly appreciated.

Regards,

I think the impact of BTC in the economy of the country is the unemployment is reduced. Many people choose to work here because they can spend time with family in their homes during activities and I think working on crypto gives more profit than people working in the office. I like it.

[Silberman]

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 views regarding this matters and get some ideas from the tenured people in this forum. Your opinions/views are highly appreciated.

Regards,

One of the good impacts that bitcoin can have in the economy is to have a currency that is not printed at will by the government, that has damaged the world economy and governments have no intention to stop, but a bad aspect that bitcoin has is that not everyone will have access to it and like always the poorest members of the society are the ones that are left out of this technological and economic revolution.

[nehemiah31]

Bitcoin will reorganize the structure of banks and financial institutions and will make transactions more convenient.It will also for safety purposes because all transactions are digitally recorded.

[Vdh135]

Bitcoin helps people especially those who are unemployed like housewife who wants to have additional income and because of bitcoin they can earn and become financially stable which in return helps the ecomic growth of their country if people economic status improve then the economic status of a country also improves.

[enogheghase123]

one of the importnce of bitcoin to an economy is that it does not allow for embelzlement of public funds, all resources are evenly accountable for, movement of funds can easily be tracked from one account to another, this is not possible with fiat currency, the negative impact is that if not regulated by government, then it may be possible to tax bitcoin transactions.

[spongegar]

I think BTC or any other crytpo currencies just gives people a chance to esrn more than what they already got. It will also give them a prwctice on how to trade in a much bigger secured market. Although the down side is, fiat will be siphoned off of an economy to crypto currency and they will not be taxed on its earnings.

[Yasinionela]

It will bring financial independence as well it will reduce unemployment and further more the monopoly will also affected in these countries The transaction process will become very faster  so the money will circulate in country.

[yonjitsu]

Bitcoin's impact to a country's economy status is just simple. BOOSTING it just like what other countries claim when they adopt the blockchain technology. Thus, the adoption rate of cryptocurrencies on that country will also rise as the domino effect will take place. 

[XiXiMios]

A lot of bussiness are entering the blockchain just like those ICOs, after they raised funds of course they will become just like a normal company and if a lot of ICO become successful it will open a lot of job opportunity to everyone and it is all thanks to the bitcoin.

[PiPiNoooo]

I see now, those democratic government implements bitcoin with minimal requirements needed to their investors while those authoritarian form of government is having a hard time fixing the regulations and rules to be implemented. To summarized, bitcoin is simply a technology and it depends on how people and government use it will determine its effect to the economy.

[adpinbr]

it would help lessen or decrease the unemployment rate of a country due to the fact that many are self-employed by bitcoin,itself, but it would be hard to track those who use bitcoin there only way is to the transactions of bank.

[Dod Ong]

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 views regarding this matters and get some ideas from the tenured people in this forum. Your opinions/views are highly appreciated.

Regards,

It has a big impact when the government support the bitcoin because we all know that the bitcoin is very powerful. If the government support the bitcoin the economy of that country will rises because the people of that country having a job or work so the economy rises because no one can experience poverty in that country.

[SirLancelot]

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 views regarding this matters and get some ideas from the tenured people in this forum. Your opinions/views are highly appreciated.

Regards,

The good thing about Bitcoin is that makes transaction easier, especially when it comes to sending money from one country to another, instead of the normal slow procedures you will go through in banks which will waste your time for the whole day you just send it with your phone in few minutes.

There are also other advantages of Bitcoin and as for the disadvantage, I think the number one that we should take note of is money laundering and that’s not a new thing cause it have been discussed several times online on how people use Bitcoin for money laundering.

[Bonsaiav]

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 views regarding this matters and get some ideas from the tenured people in this forum. Your opinions/views are highly appreciated.

Regards,

Bitcoin is a currency which runs on a blockchain network it doesn't need a third party or bank like fiat currency that will forever depend on it. With the loss of third parties/banks then it's clear there will no longer be any costs to be incurred in each transaction. In this thing a citizen will benefit greatly.

[NeeNts]

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 views regarding this matters and get some ideas from the tenured people in this forum. Your opinions/views are highly appreciated.

Regards,

The good thing about Bitcoin is that makes transaction easier, especially when it comes to sending money from one country to another, instead of the normal slow procedures you will go through in banks which will waste your time for the whole day you just send it with your phone in few minutes.

There are also other advantages of Bitcoin and as for the disadvantage, I think the number one that we should take note of is money laundering and that’s not a new thing cause it have been discussed several times online on how people use Bitcoin for money laundering.

Till date crypto investment is not good for the economy of a country, because the people of a specific country put their money outside their country. It means that they are sending their money outside their country. It will affect their economy badly. Easy transactions, throughout the world use and other benefits of cryptocurrency are not helpful for the economy of a country.

[squog]

I'd really think that if a country is solely crypto currency dependent, that country would streamline it's transactions better and there would beba better transparency in and amongst all the users precenting laundering. The downside is that the government wouldn't be abke to manipulate it's currency for theur own benefit.

[himtater87]

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 views regarding this matters and get some ideas from the tenured people in this forum. Your opinions/views are highly appreciated.

Regards,

Bitcoin is a currency which runs on a blockchain network it doesn't need a third party or bank like fiat currency that will forever depend on it. With the loss of third parties/banks then it's clear there will no longer be any costs to be incurred in each transaction. In this thing a citizen will benefit greatly.

In my opinion bitcoin is only good for people and not for the country, because people are withdrawing their money from banks and putting in crypto which is not good for the economy of a country. If they have no money in their banks, they will face financial problems and the standard of lining of the people will also effect. I don’t know how one can say that bitcoin is good for the economy of a country.

[Getmon]

The good thing about Bitcoin is that it crosses territorial borders. In other words, when a business is open to the entire world market because of Bitcoin, or when a currency travels all over the world smoothly and easily, it definitely adds a vibrant characteristic to the economy. And since Bitcoin is borderless, everyone could use it easily and quickly over the internet to buy stuff from any country in the world. That makes a better economy I guess.

[MAJICOIN]

Bitcoin is functioning as currency and currency have both positive and negative impacts like in the case of crypto currencies many of the bitcoin users is using this currency for payments of different products and services as well and bitcoin is good for the economy like those who are unemployed but they have skill of graphics and other products then through this platform they can make money.