what are the effects of bitcoin on the world economy?

[God Fist]

Bitcoin can indeed be a very helpful asset to the world economy especially after it got rated in the top 20 currencies across the globe beating lots of currencies that are government issued and supported by gold !
It can be a very useful payment method that can preserve anonymity and secrecy . In addition it provides lots of jobs to whether miners ,traders or services providers .

[Gotottack]

Right now it has not much effect on the world economy, the thing is a lot of people are just holding bitcoins for speculative investments and not really for anything else. It could be a force to recon with if the day comes that it can be used as a form of payment (which in reality was what it was made for, by satoshi). Since bitcoins does not really have a real function yet, I don't think it does provide any real effect to any economy. But, if the time comes it is more used for real transactions, cross-boarder transactions will be a breeze! There won't be any problems when you send payment to anyone anywhere around the world!

[haroldtee]

As you can see, Bitcoin attracts a tremendous amount of capital in the world, so in the not so distant future, it can dominate the world economy. Most of the people I met when joining Bitcoin, they became richer by joining it. Bitcoin has helped reduce the world's unemployment rate, increase human incomes, and significantly reduce poverty. Besides, it removes the concept of taxation as well as constraints in currency transactions between countries.

Talking about dominating the world economy, that is something that we can see happening. Right now, bitcoin is breaking all form of boundaries and hitting it higher with the market capitalization growing daily, whether it will eventually affect the global economy will depend on the level of adoption on a global scale. This is not about just some few persons earning in bitcoin, or some few investors getting rich, it is apparent some countries will find it hard due to infrastructure to even get information on bitcoin while some will just decide to pick no interest.

[mOgliE]

Hi,

I think that for the moment there is no effect on the economy.

The good point is that traditionnal medias start talking about bitcoin.. even though what they say is generally more of a general vision than a real explanation of it..

Still, some visibility is good.

Then, some majors economic players are starting to worry about bitcoin. As long as it was a geeky field only, it was ok, but if it spread, then it may be a threat for traditionnal banking. We are still far from that point but.. On step after the other, we may be able to change things!

[Aikidoka]

I believe the world economy is still not that affected by bitcoin. But if it continues to increase, it surely will affect the economy. As a matter of fact, many people will cease to rely on banks, thus they will go bankrupt, thus the economy will fall. It is like the law of the forest.

It is also like what happened in China. Many people continued to use bitcoin until it had become a threat to the economy. That is why the government banned it. Some countries like Japan use bitcoin to help their economy by getting a percentage.

[dewi91]

I believe bitcoin give the effect on the world economy, maybe not big effect but bitcoin help many people in the world to improve their financial problem, bitcoin gives the people job when it's hard to find a job..

[Sale_man]

Bitcoin has certainly made the world a better place and it offered lots of golden opportunities for those who were brave enough to take it when they saw it ! And even tho lots of people think totally the opposite , deep inside they are wishing that they were from the ones who believed in it when they saw it first especially at it's first stages when it wasn't worth shit  !
Bitcoin has improved countless lives , warmed up countless homes and fed countless stomachs ! So no matter what activities that were dealt using it i can't not see the positive things that it has brought!

[PrinceCaspian]

It doesn't have an effect for the world economy because bitcoin doesn't interact or cross any transaction that is related to the world economy and the world economy is depending or basing to the world or countries overall economic performance so i think that there is nothing to look for finding an effect from bitcoin.

[aftab.436]

I believe the world economy is still not that affected by bitcoin. But if it continues to increase, it surely will affect the economy. As a matter of fact, many people will cease to rely on banks, thus they will go bankrupt, thus the economy will fall. It is like the law of the forest.

It is also like what happened in China. Many people continued to use bitcoin until it had become a threat to the economy. That is why the government banned it. Some countries like Japan use bitcoin to help their economy by getting a percentage.

The effect of the bitcoin on the world economy is very good. Many more people from the world invest in the bitcoin and many more work for them online. also investor pay for them through bitcoin and in this good way the bitcoin effect the economy of the world toward a positive side. For the investor bitcoin is also good because the don't need to pay tax to there government on their invest or on their total currency.

[michellee]

the effect of bitcoin on the world economy is people open their eyes to see a good chance to invest their money in bitcoin and the government is amazing with bitcoin. the government trying to make regulation for bitcoin and I think they want to apply the tax to bitcoin user. but the most effect of bitcoin is for bitcoin user because they can make a lot of money from bitcoin and now, they are going to be the richest person in their cities.

[Hazaki]

Bitcoin is underrated now even tho it has braked lots of records and did unmatched/unprecedented achievements in no time at all !
The blockchain technology that all cryptocurrencies is as revolutionary as when the world got introduced to internet itself !
We know have something like a register that holds every transaction , every deal , every payment and everything that we need to know ( the public needs to know ) , and it's fully available and can be checked by millions of computers which means NO CORRUPTION ! . The blockchain technology can't stand in front of people and declare that it's bankrupt like did many banks before when they lost all theirs and their costumers money ! . We know have a corruption proof system that is a consistant equivalent to the traditional banking system as we know it and this only is a huge upgrade to the whole world !
We don't even need to talk about job opportunities and new alternative payment methods , we don't even need to talk about smart contracts that are on the next level of ingeniousness !
Bitcoin is changing the world as we know it and it is certainly taking it forward ! .

[semobo]

Bitcoin helping many people to increase their standard of living from its profits but I don't rhink it doesn't mande any effect of world economy because bitcoin is very limited amount when we compare it with the fiat world.
And only 20% people or even less who knows or uses cryotocurrency so the effect is still kot happened maybe in future it will change the world's economy.

[thedarksun]

The best example is in Bulgary right now where goverment discovers 200.000 bitcoins in their "bank". It will make their economy back on track.

[boyptc]

Effects of bitcoin to those new rich people that came from the mid class of society will be spending their profit to buying whatever they want and I guess buying new homes and cars that they love. And that leads to the taxation for the government and will make the countries economy boosts.

So still the government have benefits thru bitcoin in exchange of buying things like cars and houses. And these will still contribute to the economy because buying this things probably have taxes. So true that bitcoin helps everyone to achieve their goals to become rich and to help the world economy become more stronger than before.

Yes bitcoin is giving benefits to the government through that way when a bitcoin holder starts to sell his bitcoin for buying goods, services, cars or houses. That's how the economy benefiting from people who are into holding and using bitcoin. And when all bitcoin holders are all rich that's going to be a big help to a country for real.

[salihno71]

At this moment still quite minor if you are watching the whole world with all the markets that exist. Only financial derivatives market is estimated to some 700 trillion usd so bitcoin is still just a drop in this sea. It will need to grow at least tenfold to make some visible impact.

[Vannie12]

As long as cryptocurrencies are not taxed and regulated by the government, there is not much of an effect to any country's economy.
Not unless cryptocurrencies are accepted by banks and the only way to use them is by converting it to fiat. Fees are real and expensive. There are no stores accepting at the moment here and I think exchanging bitcoins to fiat may affect the economy.

[Younggiant2018]

since the bitcoin I see the purchasing power of the community increases, more and more new rich people who appear due to bitcoin, well what I ask is whether its influence on the economy since adany bitcoin until now whose price reaches 1600 $

let's share

The abrupt surge of bitcoin does affect the economy in the country as this attracts the huge number of small investors to buy shares and earn in bitcoin. The SEC already recognises some of the cryptocurrencies that are currently in the system but new cryptocurrencies that are coming in to play with the waves of the bitcoin value which the SEC warns the people to be vigilant of the potential scam.

[henmark]

It has big effect in the world economy, especially in the poorer countries that they have to work to overseas to earn money so they could help their family, but if they know how to work here in bitcoin they dont need to go other country to earn money and to buy there demands in life. For instance if they earn here in bitcoin and they are continted of there income they dont have to go far country just only to earn money. Even if you are in your home you could work here.

However if more people are working here in bitcoin in the future there are many people will be rich to. And they could help their country to increase there economic.

Bitcoin is effecting the US dollar in all over the world people are investing there money more and more in bit coin to make a good profit. People start withdrawing their money from forex exchange and start investing in bit coin it brings a positive change in all over the trading markets in the world.

Bitcoin is much better as compare to forex exchange. In my opinion. Bitcoin is far better than dollar because of its decentralized nature.

[manismanja]

since the bitcoin I see the purchasing power of the community increases, more and more new rich people who appear due to bitcoin, well what I ask is whether its influence on the economy since adany bitcoin until now whose price reaches 1600 $

let's share

the bitcoin effect seems to be making our finances shaken up a bit, as investors flock to the bitcoin investment, with bitcoin hopefully the benefits of all countries can be good. because we can connect anywhere and abroad do not need to exchange local money.

[beerlover]

since the bitcoin I see the purchasing power of the community increases, more and more new rich people who appear due to bitcoin, well what I ask is whether its influence on the economy since adany bitcoin until now whose price reaches 1600 $

let's share

The effects of bitcoin in the economy is that it gives people a source of income who needs money and it also reduces unemployed people in a country because bitcoin can be consider as a job that you are still earning money from it. That's why i hope bitcoin will stay longer so more people will be help by bitcoin.

Yeah, at least so many people are even able to work online and get paid using their skills without having to wait for the government to put food on their table. There are so many opportunities for a lot of company outsourcing works online which is confirmed a lot cheaper and despite the load of workforce globally, so many people are not able to get their hands on any job due to payment restrictions.

I have been there and things have changed now with bitcoin for those who are not lazy, but looking at the global economy though, that is one huge level.