Bitcoin can be useful for a troubled economy

[fcf1081]

  if this is true..then its good news for those whose economy is struggling to survive and in the midst of crisis, just hoping that by adapting or embracing this kind of system or technology they maybe able to help those people to assist in them to find ways to surpass those crisis or perhaps create their own coin which way is possible.

[1715317334]

1715317334

[1715317334]

1715317334

[1715317334]

1715317334

[1715317334]

1715317334

[developer101dev]

Goldman Sachs: Bitcoin can be useful for a troubled economy

According to the report of Goldman Sachs, Bitcoin and other crypto-currencies can be a good alternative to the national currency for countries with an unstable economy.

 Analysts at Goldman Sachs Zack Pandle and Charles Himmelberg said that digital currencies and, in particular, Bitcoin, can become a viable means of payment in countries where traditional money is not sufficiently provided.

Goldman Sachs experts: crypto-currencies can help the troubled economy

Yes bitcoin is very useful for those countries who have small economy and they can use bitcoins like mining cryptocurrency in order to earn more funds for their own needs and that is the reason why japan today really likes to be the capital of cryptocurrency in their ow country.

[ngano ba]

As been said by the bitcoin management bitcoin can help people who have financial problems, so in this situations bitcoin can help or be usefull in troubled economy , In order to be with bitcoin ,people are required to have mobile cellular phone and connect to internet if there is signal and join the global economy and bitcoin to start with bitcoin activities, and wait for your profits, by this way it can help a certain economy.

[denny27]

As been said by the bitcoin management bitcoin can help people who have financial problems, so in this situations bitcoin can help or be usefull in troubled economy , In order to be with bitcoin ,people are required to have mobile cellular phone and connect to internet if there is signal and join the global economy and bitcoin to start with bitcoin activities, and wait for your profits, by this way it can help a certain economy.

Yeah and anyway.. it still being in the midst of considerations between supporting it or not I guess in most of the governments. Peoples will following the technologies developments that are proven profitable if indeed the government of the country could respond well on it until it's not opposed, and more support it.

[catur_072]

yes, I think it could happen. but that only applies to countries that legalize bitcoin. Because as we know some countries do not agree with the existence of the bitcoin. bitcoin can be a supporter of a country's economy and can help small communities, even reduce the unemployment rate.

[jovs]

Goldman Sachs: Bitcoin can be useful for a troubled economy

According to the report of Goldman Sachs, Bitcoin and other crypto-currencies can be a good alternative to the national currency for countries with an unstable economy.

 Analysts at Goldman Sachs Zack Pandle and Charles Himmelberg said that digital currencies and, in particular, Bitcoin, can become a viable means of payment in countries where traditional money is not sufficiently provided.

Goldman Sachs experts: crypto-currencies can help the troubled economy

As we are understanding the full potentiality of bitcoin. All the possible benefits and help it could provide for a struggling economy is getting clearer and more evident. For individuals who have deep knowledge about bitcoin and cryptocurrency, the possibility of personal success is so high. Imagine the contribution they are bringing to national economy when using their earnings from bitcoin in buying things inclusive of tax? They are letting extra revenues come in to the country because of their bitcoin earnings.

[MonaLeeTracy]

yes, I think it could happen. but that only applies to countries that legalize bitcoin. Because as we know some countries do not agree with the existence of the bitcoin. bitcoin can be a supporter of a country's economy and can help small communities, even reduce the unemployment rate.

yes indeed the country must legalize bitcoin first, the new country can be helped by the bitcoin, let alone the country that has problems in the economy, it can be helped by the bitcoin.

[DMCR lah]

CNBC, Wall Street Journal, Bloomberg, BusinessWeek and Business Insider report on bitcoin problems caused by technical problems with Mt. gox. Furthermore, outlets like the LA Times rushed to seek advice from bitcoin vocal critics such as Mark Williams, who issued the following statement at the New York State Department of Financial Services BitLicense panel: "Bitcoin still needs some further research in the laboratory until it meets the required basic standards to become a profitable currency transaction ".

[@prashant]

use of crypto in paying dept overseas can help in economy boost but the major thing is blockchain or ledger technology which can revolutionize existing system to improve it better way,it can play a vital role in reducing the government level corruption so citizen can view the transaction done by govt from taxpayer money.

[BartS]

YES, in troubled economy of an environment or country, how to survive becomes the struggle of the people and if bitcoin is available they are definite to survive, even in my country we have been battling with economy recession but we have always been able to survive the hurdles with this great opportunity.

Bitcoin will allow some people to survive in better condition than if it did not existed but unfortunately not everyone can get access to bitcoin or its benefits, this is happening in countries like Venezuela that are in a severe economic and political crisis and some are using bitcoin to survive those awful conditions, the problem is that governments see this and they do not like it, it seems they prefer to see their country fully destroyed by their actions than to see some people prosper using a different currency.

[yvesp110]

Yes Bitcoin and other Cryptos can be beneficial to struggling countries. Zimbabwe is a good example I read up on, recently lifting their ban on Crypto dealings. http://bitcoinist.com/high-court-zimbabwe-lifts-regulators-cryptocurrency-ban/

This is like talking about lender of the last resort. Bitcoin being a great technology can initiate good days in an economy by eliminating the extra expenditures that are made by the people in the form of intermediate fee for making a transaction happen. Besides, Bitcoin technology has provided the ways to earn easy money for people from the comfort of their homes with even little investment.

[iMark]

Goldman Sachs: Bitcoin can be useful for a troubled economy

According to the report of Goldman Sachs, Bitcoin and other crypto-currencies can be a good alternative to the national currency for countries with an unstable economy.

 Analysts at Goldman Sachs Zack Pandle and Charles Himmelberg said that digital currencies and, in particular, Bitcoin, can become a viable means of payment in countries where traditional money is not sufficiently provided.

Goldman Sachs experts: crypto-currencies can help the troubled economy

Yes bitcoin is very useful for those countries who have small economy and they can use bitcoins like mining cryptocurrency in order to earn more funds for their own needs and that is the reason why japan today really likes to be the capital of cryptocurrency in their ow country.

I think bitcoin will not help the country's economy in a massive way, but it can help the economies of individuals who use it, people can help their economies because bitcoin investments are profitable, or there are many ways to get bitcon, and they can use it to make a profit, and improve their economy

[Ayiranorea]

use of crypto in paying dept overseas can help in economy boost but the major thing is blockchain or ledger technology which can revolutionize existing system to improve it better way,it can play a vital role in reducing the government level corruption so citizen can view the transaction done by govt from taxpayer money.

Agreed, and bitcoin being an useful innovation for a troubled economy was put forth years back when Zimbabwe was facing hard financial crisis. During that time economic analysts suggested for the adoption of bitcoin and in reality now if Zimbabwean government has done that, it could have gained more stability in its economy.

[Ikay]

It might be happen because not all country will help by cryptocurrencies it my be cause of troubled or improve a economy but it will base on a country that open minded that they accept the destination of crypto in  their country.

[Betwrong]

To help the economy of a troubled country, here must be a widespread use of bitcoin or any cryptocurrency. Some countries are already creating their own coin like Venezuela but its benefit is yet to be felt. Virtual currencies are volatile and many holders and investors might be affected if the price go down suddenly and if the price continue to fall, it will also negatively affect the economy.

Not necessarily. Economy is a more sophisticated structure than that and the price falling can contribute positively to its overall development. For example, if a certain number of people were buying crypto with their spare money, which they would keep intact on their bank account otherwise, it's good for the economy since every economy benefits from movement and deteriorates with stagnation. Another positive effect of price falling is that seeing "cheap" (compared to past prices) cryptos more people will be attracted to buying them, and again it will be good for the economy because it will drive up the overall turnover.

it is also good to hear that some other countries are already making their move in order to adapt this kind of economy, sad to say that in our country i don't think there is  even a slight chance that they are making their move to adapt in this current state. i also personally think that it could also help some troubled economy.

Don't be so pessimistic. You are from Philippines, as far as I understand, and the attitude towards crypto is not so bad in your country. There are 11 exchanges there and there are 9 Bitcoin ATMs in Manila. I can assure you I've seen worse attitude. Basically your government wants to fight Ponzi schemes and cloud mining scam projects, but it gives the opportunity for crypto enthusiasts to do their business. Check out this article, for example:
https://news.bitcoin.com/philippines-welcomes-crypto-economic-zone/

[slapper]

yes, I think it could happen. but that only applies to countries that legalize bitcoin. Because as we know some countries do not agree with the existence of the bitcoin. bitcoin can be a supporter of a country's economy and can help small communities, even reduce the unemployment rate.

I totally agree with you as bitcoin can be a real life saver for a lot of people and it has helped with improving their qualities of life. However, to some countries which put a ban on bitcoin or don't have bitcoin regulation, it can be difficult for those want to earn a living with bitcoin. I know some people from my country who trades bitcoin but when there are too many of them, the government starts to pay attention to cryptocurrencies and their work gets a little bit rough.

[ylnar123]

Goldman Sachs: Bitcoin can be useful for a troubled economy

According to the report of Goldman Sachs, Bitcoin and other crypto-currencies can be a good alternative to the national currency for countries with an unstable economy.

 Analysts at Goldman Sachs Zack Pandle and Charles Himmelberg said that digital currencies and, in particular, Bitcoin, can become a viable means of payment in countries where traditional money is not sufficiently provided.

Goldman Sachs experts: crypto-currencies can help the troubled economy

Bitcoin might be the solution for those country with troubled economy, but that is if the government will implement and educate their subordinates to follow and learn on cryptocurrency most specially Bitcoin. The hard part is the acceptance of people in the lower rank on Bitcoin as their means of payments which is hard if they have no internet.

[hibiscus]

Bitcoin was useful to many countries to survive from the financial crisis due the inflation or some other reasons.Bitcoin has served as an alternative currency during the financial crises to the countries such as Greece., Venezuela,Japan>Brazil etc.If we are reviewing the history it will be quiet clear that it will be more convenient to operate the crypto currency along with the national currency. Bitcoin is the powerful crypto currency which can be useful world wide due to its specific features.

[ArteMixer]

Yes, these countries can take is as their national currency, or link the currency to bitcoin, to strengthen it. That might be a good idea.

[Barbarian]

Yes Bitcoin and other Cryptos can be beneficial to struggling countries. Zimbabwe is a good example I read up on, recently lifting their ban on Crypto dealings. http://bitcoinist.com/high-court-zimbabwe-lifts-regulators-cryptocurrency-ban/

This is great news, the people of Zimbabwe really need cryptocurrencies to store their value when there are very few dollars and the government is once again cheating them, so I'm really glad they have access to crypto again now they need to get bitcoin as fast as they can before they lose that right again.