May Or May Not any Digital Currency disturb Any country's Economics??

[fiulpro]

Digital currency definetely boosts economy when introduced in the nation in controled manner. Well it also depends on the situation of the country and its governmsnt as to how they treat it.

Also, there are countries like china which bans bitcoins for the sake of their own currencies stability and control and at the same time their are countries like japan who are adopting digital currencies in daily life and its helping their economy in a big way.

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[iamTom123]

It depends, probably in a small country if everyone start using a crypto currency and left over creditcards, they economy may collApase.

Why would a small economy collapse if more and more people would be using cryptocurrency? Remember that people will be using cryptocurrency to buy local products and if this can be done then the wheel of commerce will even be enhanced and maybe the market can be expanded. I am sure that there would be people that can be disrupted and this is just natural as businesses do come in and go out of business if the market can be shifting. I would say that the use of cryptocurrency can be bringing in fresh ideas, new products and the economy can be refreshed. However, it remains to be seen which of these two scenarios can happen when applied in the real world, though am so optimistic that cryptocurrency can be helping rather then be an agent of destruction (or collapse).

[CHENIEN]

For me any kind of currency used will not disturb any country's economy. It is because in every country currency used value will defend only on how the economic status. Not all country are the same value of currency it defends only on how economic income of each country. For my own understanding currency is only followed on what economy level.

[Vannie12]

I guess so. Adaptation is a difficult process. Since that every government have their own system and routine, adapting a new technology may disturb the actual flow. Hence, it may also affect because bitcoin is decentralized which on their side is not beneficial to the government.
They can not stop bitcoin that is why some are trying to implement different kind of ways. I think one day can can figure out a way to implement it and put it their own circulation which of course I am expecting to be fair.

[Pleione527]

So far bitcoin do not disturb any economic status of a certain country it is because only few people adopt bitcoin and it is not that popular to many countries added to the fact that it has no any support coming from the governments. But if time comes the legality issues of bitcoin will finally resolved I think bitcoin can become a big help to improve the economic status of a certain country.

[akram143]

In future crypto currency will make a huge change in the countries economy like reducing the revenue of the country.Nowadays we are paying tax for everything and the most important tax of any country is income tax but if people started to use crypto currencies then there is no need to pay that tax to government because crypto transactions are anonymous.

[lady pink]

It depends, probably in a small country if everyone start using a crypto currency and left over creditcards, they economy may collApase.

No It is not easy to break a country rule to the level that it's currency will collapse. It can only happen in a country where the hold of government is weaker. The central bank of a country will not this all to happen.

[dewi91]

I don't think virtual currency can disturb any country's economics, may be it's just the government's worries.. so far no country has declared losses due because of bitcoin.. as far as I know bitcoin can help economy of the country..

[audaciousbeing]

Currently, I would say bitcoin does still not pose any threat to the economy of any country. Using my country for example, the total market capitalisation value of bitcoin ( which is the dominant in the entire digital currency value) is $323,071,829,482.00 as at today and according to report, the total value of cheque transactions as at the first quarter when converted gives  $4,754,098,360.66 not considering the ATMs transactions, online transactions, over the counter transactions, transfer abroad, POS movement etc and that is for just one country alone for one quarter of the year. This shows that when the bitcoin capitalization that have taken into consideration the entire bitcoin mined to date even with the value at $18000 on the average, when we break it down to country basis, it will have little or no effect at all to distort any economic indices.

[Rana590]

From my opinion, Bitcoin is not a curse for any country. Bitcoin is blessing for us. In every country there are a lot of unemployment people. Bitcoin helps them in financial purpose. Indirectly it effects on the economic development of a county. So it is not a disturbance for a country's economy.

[davinchi]

For me any kind of currency used will not disturb any country's economy. It is because in every country currency used value will defend only on how the economic status. Not all country are the same value of currency it defends only on how economic income of each country. For my own understanding currency is only followed on what economy level.

That’s a lie, they do, in fact they do it in a big way. Cryptocurrencies affects the economy of some countries badly. China was one of the first countries that got into Bitcoin and cryptocurrencies, but today they are no more into Bitcoin, and has banned some Bitcoin activities, especially ICOs. China has a very big market and Bitcoin affecting pretty bad. Some research can prove that.

[cr_liev]

I think yes, economics of a country can be disturbed by a cryptocurrency. People get money like from nowhere and don't pay taxes. Besides, people give their money to other sources than the state...

[Rayner77]

Banning or allowing Cryptos into the country have their own pros and cons. For one, money laundering will be made a lot easier if Cryptos are officially accepted in the country since a lot of businessed will definitely use Cryptos to their advantage.

[kryptqnick]

It depends, probably in a small country if everyone start using a crypto currency and left over creditcards, they economy may collApase.

But that's not possible. Cryptocurrencies are mostly kept as investments. People may withdraw some small sums but even then they'll sell them for fiat, which won't result in a collapse, for basically the local fiat will be bought in the end.
I think the problem mostly occurs when people take a lot of fiat and sell it for a cryptocurrency, but I doubt people would do that now, as prices are high. Thus, in fact, I think there's more threat to cryptos in the current situation rather than to fiat.

[lighpulsar07]

Well bitcoin and other cryptocurrencies may disrupt a country's economy if the government continue to ignore it. People just use cryptocurrency to just store their money and hold it and earn profit without getting taxed by the government which is very bad to the economy of the country and also, with cryptocurrencies people can launder money so, if the government doesn't do anything to regulate bitcoin and pther digital currencies, it may will disrupt their economy sooner or later.

[jacksonmark30]

Govts can't really stop cryptos from entering their countries, but they can stop business from accepting cryptos. If they can find a way to tax people for their transactions, then it shouldn't disrupt their economy.

[coinmgnet]

It depends, probably in a small country if everyone start using a crypto currency and left over creditcards, they economy may collApase.

I agree, governments have to addapt to crypto. Mass adoption should soon happen, and when it's gonna happen, we need to be prepared for the crisis.

[beerlover]

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.

No one will dispute that fact. Apparently, if fiat starts becoming useless and people start focusing more on the use of crypto, which should really have some effect on the monetary system. Nevertheless, unless the country is smart enough to look for some means of reviving it and maybe looking at integrating the blockchain system, then that would really be a crazy one.

Also, in totality, the drastic effect won't be that much at least for now pending when we really start seeing real life usage of bitcoin without having to convert to fiat and when higher percentage of the population have diverted to bitcoin.

[Supercrypt]

Some governments feel this could be a threat to their economy but I do not really see how this two correlate unless the fiat system is totally replaced and the government is greedy enough to get it to totally collapse.

The thing is that bitcoin itself has even been a savior for so many collapsed economies which in the right sense was not even as a result of bitcoin itself but the crazy policies of the government. To me, bitcoin would even help the people depending on the huge level of usage and as well help the economy grow gradually for those countries who may want to make use of it and regulate it.

[Tamim121]

I think digital currency do not disturb any countries economics. Because in every country there are lot of unemployed people. Bitcoin helps them to be a self employee and also help them in financial intention. Bitcoin blessing for any countries economy.