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Author Topic: bitcoin surely boost the regional economy???  (Read 482 times)
usam_coiner
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November 19, 2017, 03:43:02 PM
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As bitcoin has changed lives of people and frost world countries are getting huge benefits from bitcoin and surely in the same way bitcoin can give boost to the economy and bitcoin is the key way to the development and progress and i am sure that btc will boost economy as well due to its high prices and people can use bitcoin for their sake to generate income.
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November 19, 2017, 04:25:26 PM
 #2

A lot of people are quick to make assumptions like this, but when you think about it using Bitcoin is neutral or even a net negative for the regional / worldwide economy. Because think about it, if people don't need the middlemen (being banks and such) because they have miners and computers pretty much doing everything, that's going to kill a ton of jobs. Even if these jobs are for the bank, it's still normal everyday people that are getting hurt in between because they're going to lost their jobs if Bitcoin was to go mainstream.

So, net negative IMO even if I do love btc.




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November 19, 2017, 05:23:11 PM
 #3

A lot of people are quick to make assumptions like this, but when you think about it using Bitcoin is neutral or even a net negative for the regional / worldwide economy. Because think about it, if people don't need the middlemen (being banks and such) because they have miners and computers pretty much doing everything, that's going to kill a ton of jobs. Even if these jobs are for the bank, it's still normal everyday people that are getting hurt in between because they're going to lost their jobs if Bitcoin was to go mainstream.

So, net negative IMO even if I do love btc.

Yeah I am not so sure about this. On one hand you do have a point, but on the other you must realize when jobs are lost due to one reason, they are often created for another. For example, computers and robots have taken so many jobs, but think about how many people work on computers or robots and you will see that the jobs simply got shifted in many cases and not necessarily lost. Therefore I think it is not net negative, but most likely neutral.



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November 19, 2017, 06:25:09 PM
 #4

A lot of people are quick to make assumptions like this, but when you think about it using Bitcoin is neutral or even a net negative for the regional / worldwide economy. Because think about it, if people don't need the middlemen (being banks and such) because they have miners and computers pretty much doing everything, that's going to kill a ton of jobs. Even if these jobs are for the bank, it's still normal everyday people that are getting hurt in between because they're going to lost their jobs if Bitcoin was to go mainstream.

So, net negative IMO even if I do love btc.

Anything we can automate, we should. Otherwise we'd still be stuck in the pre-industrial area without any social or technological progress at all.

Free up workforce from unnecessary, menial tasks and put those people to good use elsewhere. It already happened to most manual labor, why should finance be exempt? For every job that becomes obsolete, new opportunities will arise. As a result global productivity and thus wealth will increase, it's just the matter of fair distribution that is worrisome.

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November 19, 2017, 07:19:33 PM
 #5

But I don't see any point how bitcoin is helping the economy of world or how it will change the face of economy within a specific country. There exist nothing beyond the bunch of codes and I think that way because the bitcoin is bitcoin and it is floating in the darkness of the internet wold. The money that we invest is not returning to us and getting sucked worldwide. I mean mining operations, job campaigns in different countries are being done at different level. This means whatever one country put into bitcoin goes indirectly to the strongest contender and leave behind the country with disturbed economy because the money is outflowing and rest world is distributing it in small pieces that it couldn't even help them grow either.
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November 19, 2017, 07:31:20 PM
 #6

It boost everything if it is use corectly like a currency to just improve some trades in real live, like real money... This way it boost economy even for country scale.
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November 19, 2017, 08:15:53 PM
 #7

Can't be ascertained bitcoin to boost the economy of an area because there are still many people who do not know and trust bitcoin in the added government was not legalized and take responsibility for all transactions using bitcoin. However, if an area already uses bitcoin as a means of a transaction then it can be said they have made the right decision and one step ahead of the area that still only use the tools of transaction that I think is old-fashioned.
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November 19, 2017, 08:26:38 PM
 #8

It is crystal clear that bitcoin has the potential to do this and is already doing it. Bitcoin will not only boost an economy but will make individuals independent of the economy.

For instance, people who are already into bitcoin and making money from bitcoin have no business with the hardship anymore and so, they have extricated themselves from the economy, thereby giving the economy lesser burden to cater for and by that, the economy will keep improving.

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November 19, 2017, 08:39:13 PM
 #9

As bitcoin has changed lives of people and frost world countries are getting huge benefits from bitcoin and surely in the same way bitcoin can give boost to the economy and bitcoin is the key way to the development and progress and i am sure that btc will boost economy as well due to its high prices and people can use bitcoin for their sake to generate income.

Bitcoin is an economic benefit because is creates jobs and there is a whole industry of products as the result of it. Business like exchanges, gambling sites, etc have cropped up because of Bitcoin. Also companies are making mining equipment, Bitcoin ATM’s, etc because of Bitcoin. There are also blogs, videos and articles that focus on Bitcoin. These are all business related benefits of Bitcoin and this is just the beginning of the Cryptocurrency economy where we will see an explosion of innovation due to this new technology.
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November 20, 2017, 12:14:07 AM
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yes, I'm sure bitcoin can improve one's economy, unfortunately bitcoin can not contribute to country, because I am worried all countries will ban the use of bitcoin.

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November 20, 2017, 02:04:49 AM
 #11

But I don't see any point how bitcoin is helping the economy of world or how it will change the face of economy within a specific country. There exist nothing beyond the bunch of codes and I think that way because the bitcoin is bitcoin and it is floating in the darkness of the internet wold. The money that we invest is not returning to us and getting sucked worldwide. I mean mining operations, job campaigns in different countries are being done at different level. This means whatever one country put into bitcoin goes indirectly to the strongest contender and leave behind the country with disturbed economy because the money is outflowing and rest world is distributing it in small pieces that it couldn't even help them grow either.

 Its boost economy because the more usd or btc come in your country the more economy will grow thats my opinion.
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November 20, 2017, 02:33:31 AM
 #12

As bitcoin has changed lives of people and frost world countries are getting huge benefits from bitcoin and surely in the same way bitcoin can give boost to the economy and bitcoin is the key way to the development and progress and i am sure that btc will boost economy as well due to its high prices and people can use bitcoin for their sake to generate income.
Not totally boost the economy instead its help by individual financial problem, let say this is you source of income for the whole week or month maybe but I think that's not enough for daily needs. Not for sure if this bitcoin boost the economy of countries.

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November 20, 2017, 02:56:39 AM
 #13

I think it is not like that mate although if youre refering to the users they  are improving by themselves independently because bitcoin is decetralized . It has no effect on the regional economy because not all are using bitcoin even now users of bitcoin is i think  about only millions so it is not generally for everyone for now.

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November 20, 2017, 03:00:05 AM
 #14

Bitcoin cannot help an economy. The economy must work for itself. Think of bitcoins as some sort of currency. Having currency doesn't mean you would be a much more better economy. If you think about it, even if you have a quadrillion and quadrillions of your currency the whole world will not care if the country backing up that currency has no economy. Look at vietnam, everybody there is a billionaire or a millionaire at least, in their currency. But no other country cares about their currency. That is the same with bitcoins, it cannot help if the value of the economy is worthless.
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November 20, 2017, 04:10:53 AM
 #15

Bitcoin is helping the economy as it makes transactions faster and has transparency. We must not let ourselves be pitty on the bank owners as they are not concern of our well being. If you go loan and borrow some cash it's interest is so high that most people have suffered on paying back causing their other properties to be mortgage at other banks and more sufferings will eventually come, with bitcoin we can lessen those things and continue to do business with less bank's interference.

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November 20, 2017, 04:20:06 AM
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Can't be ascertained bitcoin to boost the economy of an area because there are still many people who do not know and trust bitcoin in the added government was not legalized and take responsibility for all transactions using bitcoin. However, if an area already uses bitcoin as a means of a transaction then it can be said they have made the right decision and one step ahead of the area that still only use the tools of transaction that I think is old-fashioned.


Right, bitcoin must gain the trust of ordinary people before it boost the economy. Its hard to bitcoin to boost the economy when its people don't believe on bitcoin. Yes it can but of course it takes time and a lot of effort. Bitcoin offers great opportunity for our future.
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November 20, 2017, 04:42:37 AM
 #17

Bitcoin affect the regional economy as well the bitcoin provide the opportunity to the people to get earning through this bitcoin forum. This is helping them and through this the purchasing power of the people are good thus we can say that it is improving the economy as well. Like it reduces the unemployment ratio in the economy it has decreased the poverty level up to a little bit.

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November 20, 2017, 04:50:51 AM
 #18

Bitcoin is helping the economy as it makes transactions faster and has transparency. We must not let ourselves be pitty on the bank owners as they are not concern of our well being. If you go loan and borrow some cash it's interest is so high that most people have suffered on paying back causing their other properties to be mortgage at other banks and more sufferings will eventually come, with bitcoin we can lessen those things and continue to do business with less bank's interference.

Imagine if their government also try to use bitcoin as their tax revenue. There will be alternate income for the country that will help boost their economy so I'm wonder if some government still not legalized bitcoin yet.
I know it will break bitcoin as decentralized currency so they must think twice before able to adopt bitcoin for their transaction
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November 20, 2017, 02:34:28 PM
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Bitcoin is helping the economy as it makes transactions faster and has transparency. We must not let ourselves be pitty on the bank owners as they are not concern of our well being. If you go loan and borrow some cash it's interest is so high that most people have suffered on paying back causing their other properties to be mortgage at other banks and more sufferings will eventually come, with bitcoin we can lessen those things and continue to do business with less bank's interference.

Imagine if their government also try to use bitcoin as their tax revenue. There will be alternate income for the country that will help boost their economy so I'm wonder if some government still not legalized bitcoin yet.
I know it will break bitcoin as decentralized currency so they must think twice before able to adopt bitcoin for their transaction
if a government accept bitcoin and then taxation system on bitcoin will really help government to do development projects because bitcoin will give alot of room to the progress and the extra income from the taxation department will be served for the sake of citizens and this thing will also give a positive impact to the image of country.
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November 22, 2017, 08:27:49 PM
 #20

In my opinion,these process is not such a large scale yet,but i think its very helpful for development countries.For example the company (leader mining company) Bitfury has invested 100 million dollars in my country in Georgia.Which will contribute to the promotion of new labor relations,wich olso will  prevent many social-economical problems.so my country will get from this 100 million dollars investition,place on the world map of innovative technologies and  Increased  number of employees.but it does not mean that bitcoin boost the regional economy yet.
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