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Author Topic: May Or May Not any Digital Currency disturb Any country's Economics??  (Read 192 times)
Bilalrahi
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December 16, 2017, 10:36:48 PM
 #1

 Huh
There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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December 16, 2017, 10:42:49 PM
 #2

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It depends, probably in a small country if everyone start using a crypto currency and left over creditcards, they economy may collApase.
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December 17, 2017, 05:38:13 AM
 #3

It matters how far crypto is allowed to reign in a country to see what it would do to that country. If Cryptocurrencies are regulated, of course it's not going to be allowed to disturb anything that's going on. But if it is given free will, then Bitcoin and the other cryptos will SLOWLY (most likely) take over a countries finances as people switch to it as they'd have no reason to.

This government would probably lose economic control of their country, as they can't issue currency, raise interest rates -- etc.

It would totally disturb a country's economy.




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December 17, 2017, 05:48:43 AM
 #4

Huh

It depends, probably in a small country if everyone start using a crypto currency and left over creditcards, they economy may collApase.
You don't get a point. How the majority of the people left over the credit card makes the economic collapse. The crypto disturbs the countries economic through the majority of the users are using it as investment place. That makes the majority of the countries will lose a lot of money because it was flying to another place. Just like what already did in some countries to ban the bitcoin. majority of them are mentioned if the crypto was disturbing they're economic. To prevent the potential investors move to another ground.
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December 17, 2017, 05:54:15 AM
 #5

Huh
Cryptos would only be disruptive if there's something that encourages the general populace to use something aside from their native currency, such as the collapse of the currency in Venezuela and the effect it is having on the people within its borders. Most of the time it wouldn't have an impact otherwise, and if there were cryptos on the rise in a country that wasn't experiencing any kind of turmoil then there would be moves from the government to shut it down. Any disruption simply wouldn't be tolerated and there would be attempts to co-opt Bitcoin and suppress it within the country. At least for most of the first world.
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December 17, 2017, 06:07:25 AM
 #6

of course not Gan, there is no relationship its currency of the country with bitcoin, because bitcoin similarly ... bitcoin is the currency of the "state" digital, so will not affect the value of currency any country.
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December 17, 2017, 06:15:40 AM
 #7

of course not Gan, there is no relationship its currency of the country with bitcoin, because bitcoin similarly ... bitcoin is the currency of the "state" digital, so will not affect the value of currency any country.

No buddy. Bitcoin is indirectly help to increase the country Economy. Many of people now doing the bitcoin business as a part time apart from their regular job and some do the bitcoin trading as full time with out the job.This bitcoin income influence their family income and expenditure.So indirectly bitcoin involved in country economy's growth.

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December 17, 2017, 06:28:51 AM
 #8

Huh

Bitcoin is going to disturb countries economoy if it is going to keep growing big.

Think about it like that, if people starts using bitcoin only, they will be able to avoid paying fees to the country, a thing that will make the country to be in deep debts.

Not only that, it's going to decrease the value of the country's currency and may cause the country to make an huge inflation.
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December 17, 2017, 09:25:13 AM
 #9



Quote from: Bilalrahi link=topic=2599569.msg26457011#msg26457011
date=1513463808
Huh

Always explain your thoughts in while being OP, it gives clearer
picture what do you want to say in the first place. If you can express
yourself then people can explain you in better ways too. :-)

Well, from the title I will say that digital currency or crypto's
really, can never disturb the national economy as long it was
completely different circle from what we are having currently. The
transactions, circulating money in the bitcoin or crypto world is
coming from the national wealth or economy and it also gets back to it
because money s exchanged for money and that way everything is
balanced properly. You an say that it would have disturbed the
country's economy if the money was sent to crypto and it never came
back in the global circulation. I am pretty sure that nothing like
that can happen in first place. :-)


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December 17, 2017, 10:38:36 AM
 #10

of course not Gan, there is no relationship its currency of the country with bitcoin, because bitcoin similarly ... bitcoin is the currency of the "state" digital, so will not affect the value of currency any country.

No buddy. Bitcoin is indirectly help to increase the country Economy. Many of people now doing the bitcoin business as a part time apart from their regular job and some do the bitcoin trading as full time with out the job.This bitcoin income influence their family income and expenditure.So indirectly bitcoin involved in country economy's growth.
Definitely.Bitcoin is a blessing to unemployed people especially from under developed countries.It helps them to increase their standard of living.By this way,it has a positive effect on a country's economy.What they need is a laptop and an internet connection.

On the other hand,bitcoin may affect some countries by making ease money launderers to transfer their wealth out of the country or to just hold it in bitcoins hiding it from the radar of the government.By this way,huge tax revenue is lost for that country.
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December 17, 2017, 10:56:51 AM
 #11

Crypto is way too small to cause any kind of substantial effect to any, except maybe the poorest of the poor countries. It has to be noted that they might not even be able to even if they grow big enough; governments are getting smart and are starting to regulate them. There's no way they're going to let cryptocurrencies get out of hand.

One example of crypto making a significant impact on a country though? North Korea. There hasn't been any solid evidence yet, but they've always been in talks about hackings and Bitcoin thefts. Stolen Bitcoins could very well be funding their nuclear program for all we know. No other country seems to be seeking funding from Bitcoin, except maybe the occasional government selling of seized Bitcoins.

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December 17, 2017, 11:32:51 AM
Last edit: December 18, 2017, 12:23:17 PM by zarados
 #12

Crypto is way too small to cause any kind of substantial effect to any, except maybe the poorest of the poor countries. It has to be noted that they might not even be able to even if they grow big enough; governments are getting smart and are starting to regulate them. There's no way they're going to let cryptocurrencies get out of hand.

One example of crypto making a significant impact on a country though? North Korea. There hasn't been any solid evidence yet, but they've always been in talks about hackings and Bitcoin thefts. Stolen Bitcoins could very well be funding their nuclear program for all we know. No other country seems to be seeking funding from Bitcoin, except maybe the occasional government selling of seized Bitcoins.

This could happen in developing countries or below. The proof, some countries that prohibit the circulation or transaction of bitcoin and other cryptocurrencies have the reason that cryptocurrency can be a threat for the economy because of the potential to be a means of crime.

Therefore, I feel that cryptocurrency can be accepted by countries that have a healthy economy, so this cryptocurrency can have a positive impact on their economy, not the otherwise.
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December 17, 2017, 11:52:16 AM
 #13

I guess this highly depends on which country is affected and what rules they try to imply when it comes to Bitcoin usage. Here in the Philippines, there are no rules towards Bitcoin. Despite the said fact, its popularity towards the Filipinos has continually been increasing, making more people be dependent on it. This can somehow affect the economy since they are not being taxed or regulated accordingly. In a country where tax is not put into good used, I think Filipinos are glad they have Bitcoin earning but are not worried with its effect towards the economy. Many people would fail to see the bigger picture in this situation for it benefits them exponentially.
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December 18, 2017, 06:39:01 AM
 #14

It is hard to increase our income,and our only source of income is only our salary in our stable job.For me as an employed mother my salary is not enough to sustained everything especially when your expenses is higher than your salary ,its affects the economy through poverty those people who need an extra income helped by bitcoin to increase their net worth and saying its affects economics because a once persons who earned a lot makes an economy growth.
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December 18, 2017, 07:03:54 AM
 #15

Crypto is way too small to cause any kind of substantial effect to any, except maybe the poorest of the poor countries. It has to be noted that they might not even be able to even if they grow big enough; governments are getting smart and are starting to regulate them. There's no way they're going to let cryptocurrencies get out of hand.

One example of crypto making a significant impact on a country though? North Korea. There hasn't been any solid evidence yet, but they've always been in talks about hackings and Bitcoin thefts. Stolen Bitcoins could very well be funding their nuclear program for all we know. No other country seems to be seeking funding from Bitcoin, except maybe the occasional government selling of seized Bitcoins.
It may be small now but the opportunities of it taking over the system should not be discarded. However, I am not sure how this really would affect fiat that much unless of course the larger population have shifted to crypto and that should end up affecting the official economy since most of the crypto users anyway really won't bother and the government may just be forced to either accept crypto usage as it is or maybe find a way to convert the fiat system into digital etc.

Nevertheless, all these things we are looking at are still a bit far from now and it would take some huge years to even get there. There would still be a balance and no one can really say how much effect the use of crypto itself would apparently have as that would totally be based on the government monetary policies at that time and how they perceive cryptocurrency.
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December 18, 2017, 07:05:34 AM
 #16

Digital currency such as crypto currency cant disturb a countries economy, crypto currency is not even in 1% of any countries revenue value thats why it cant affect the economy of a country, there must be a large revenue that the government is getting into bitcoin before it can largely affect its economy.
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December 18, 2017, 08:31:40 AM
 #17

Huh
.           Bitcoin  I think Will not disturb any country,s economy as long as they  Will not Take it as their national currency. Just bear in mind that Bitcoin just can be mined and collect them through internet or  you can buy bitcoins any amount you can to invest. As long as everybody Will consider this as passive income , it Will not disturb the economy of  a country. Just think of it if everybody Will just Fucos ON bitcoins, who Will do the other things like infrastructures , agriculture , and other government activities. It Will not affect  the economy if it Will be controlled.

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December 18, 2017, 08:41:23 AM
 #18

Huh
Of course, the uncontrolled spreading of the crypt can destroy the state. But we see what happens when legalized bitcoin, immediately it is banned. So not everything is so good even under his control. Therefore, direct influence is very visible, the consequences are different.
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December 18, 2017, 08:56:44 AM
 #19

At this moment I don't think there is any country in the world where Bitcoin is formaly introduced into economy, fuly regulated and accepted by businesses. That is the first precondition and without it how could it disturb it.
This could happen only in some hidden area because people use Bitcoins and get some profit out of it but in most cases this is not formaly recorded anywhere in economy.
Still, some rules are changing and Bitcoin will long term influence the economy too. In.what way is yet to see.

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December 18, 2017, 09:57:14 AM
 #20

for small economies the crypto currency and fiat currency also affect a lot but for big economies digital currency can't create big disturbance like if we look at the European economy British economy and china economy then we can say that digital currency may facilitate the digital currency and it will bring prosperity in the economy in the long run. in small economies the digital currency bring big disturbance because the flow of funds and other big factors will come to disturb the economy.

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