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Author Topic: Bitcoin can be useful for a troubled economy  (Read 2183 times)
pentol86
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January 13, 2018, 05:00:16 PM
 #21

because bitcoin is decentralized, so it will good if some country, which unstable economic, and try accepted bitcoin

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January 13, 2018, 05:18:43 PM
 #22

 African countries are facing many problems from last so many years. Due to civil war, natural calamities their economies are devastated completely. Fiat currencies are devaluated to such an extent that they are not in a position to support economy. In such case bitcoin or cryptocurrencies seems to be the only ray of hope for them. That is why Bitcoin is trading at 40% premium in African countries. Nigeria, Ghana, South Africa, Ghana, Kenya Zimbabwe are the main bicoin user African countries.

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February 23, 2018, 11:48:18 AM
 #23

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


Absolutely yes, bitcoin can be useful for a troubled country if and only if, that country accepts bitcoin.If they are really in troubled but they have so much high pride and they didnt trust bitcoin much, then that mus t be a problem.So the decision of letting bitcoin be the answer for there trouble economy,its still there choice.

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February 23, 2018, 12:07:32 PM
 #24

I also believe that Bitcoin can be used an alternative solution for conflict on economy of one's country. It can even lessen the unemployment rate of one's country however, it is just for temporary because bitcoin is volatile meaning if we depend on it the value of our money might change whether to pump or dump.

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February 23, 2018, 12:52:41 PM
 #25

Yes of course.. As far as i know there are countries that make used a new system of currency and a fast growing of using it.. aproximately 34,074/month of transaction has been made.. And as i see bitcoin is a great option for European businesses because it truly become global payment method for them, and maybe next in other country too

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February 23, 2018, 10:22:56 PM
 #26

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



I think that Bitcoin and more generally cryptocurrencies could actually help trouble economies, but the fact that Goldman Sachs is stating the same is slightly troubling me. Since when is Goldman Sachs interested in helping troubled economies?

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February 24, 2018, 11:43:19 AM
 #27

Bitcoin is very beneficial for troubled economies, especially in my country. Many changes occur after the existence of this bitcoin currency.

Changes can be seen from my friends, who previously had very bad economic problems, and after getting to know the bitcoin world they can meet their individual needs.

And I hope after getting to know this bitcoin world, it can bring change to my economy as well.
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February 24, 2018, 12:16:16 PM
 #28

Yeah, True indeed. Bitcoin and other altcoins is very useful to countries with troubled economy most especially on 3rd world countries where means and outlet of money is rare.

Bitcoin that is in good use will be a benefit for a country, but if it is used in bad things of course it will cause trouble to one country. We cannot say that it can be beneficial to a 3rd world country because in a 3rd world country not all people can use computers and have access to the internet, they are still relaying on fiat money.

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February 24, 2018, 12:22:22 PM
 #29

With a deep sense of humor, Bitcoin can be so helpful and useful not only in troubled economy, also for individual Bitcoinners in Developed economies. If the troubled Economy Government can support Bitcoin and encourages client to study well and trade with caution in Bitcoin, Many of its citizens can have their ways out in Bitcoin trading and investments.

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February 24, 2018, 12:39:41 PM
 #30

Yeah, True indeed. Bitcoin and other altcoins is very useful to countries with troubled economy most especially on 3rd world countries where means and outlet of money is rare.

Bitcoin that is in good use will be a benefit for a country, but if it is used in bad things of course it will cause trouble to one country. We cannot say that it can be beneficial to a 3rd world country because in a 3rd world country not all people can use computers and have access to the internet, they are still relaying on fiat money.

Agree with you there - crypto is an opportunity, but that opportunity can be used for good or bad. I can definitely see how a decentralised currency would be useful in countries with troubled economies and Gvt corruption. But it is likely to be more effective in emerging economies where smartphone usage is very high (e.g., Brazil) but might be harder to adopt in countries where internet is not widely used at all.
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February 24, 2018, 12:48:05 PM
 #31

because bitcoin is decentralized, so it will good if some country, which unstable economic, and try accepted bitcoin
Definitely, it is better to enhance and adapt bitcoin in all poor country because i believe that it would be a big help to them specially to their financial stability. In addition, it will be the solution for the unemployment status in their community. People may have the other way of earning profit with the help of bitcoin. And also it may help to the global crisis in the government

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February 24, 2018, 12:49:25 PM
 #32

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, definitely it will be a good way to help other poor countries such ours to balance our economy. I truly believe that it will be a great solution someday.
fritzbird
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February 24, 2018, 01:11:05 PM
 #33

I definitely think it's very useful and helpful to countries with  a struggling and troubled
economy. Third world countries may greatly benefit from it. It may well be the one
thing that might improve people's lives and their way of living, once that happens the
economy improves and stabilizes. This creates openings and opportunities, to it's
citizens bitcoin offers more room and options to earn and even invest for their future.
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February 24, 2018, 01:22:42 PM
 #34

Yes it can be helpful for everyone especially at times were money is the problem. It's always the problem for most of the citizens.Bitcoin can help them earn additional money for their basic needs. 

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February 24, 2018, 01:29:42 PM
 #35

Of course it could be useful for a troubled economy, if you know what is bitcoin ?, how to get it ?, And how to get started ?, The most important in is that we need Global Support for Bitcoin so there is no more such thing as a economic gap.
In order to contribute to all the people who want to change the economic gap, So that's why we already know that bitcoin can be beneficial for a troubled economy, we can provide the required information to the people.

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MuffinMaster
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February 24, 2018, 01:39:04 PM
 #36

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


That is true it just depend how people just treat it and how people are accused to it, cause goverments could just tax it in that way that people won't have bad attitiude and country will repair financial status.


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February 24, 2018, 02:42:49 PM
 #37

It can also be a safe haven for people under a country with hyper-inflation. Bitcoin is volatile, yes, but it is a lot better than deteriorating the buying power of your assets.

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February 24, 2018, 04:19:27 PM
 #38

I also believe that Bitcoin can be used an alternative solution for conflict on economy of one's country. It can even lessen the unemployment rate of one's country however, it is just for temporary because bitcoin is volatile meaning if we depend on it the value of our money might change whether to pump or dump.
Yeah bitcoin will be very help full for the troubled economy and the best benefit of bitcoin in its good days is it will take your economy to hundred points above so all regions with economic crisis must use bitcoin,
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February 25, 2018, 04:56:03 AM
 #39

I also believe that Bitcoin can be used an alternative solution for conflict on economy of one's country. It can even lessen the unemployment rate of one's country however, it is just for temporary because bitcoin is volatile meaning if we depend on it the value of our money might change whether to pump or dump.
Yeah bitcoin will be very help full for the troubled economy and the best benefit of bitcoin in its good days is it will take your economy to hundred points above so all regions with economic crisis must use bitcoin,
Bitcoin is the solution for all economical problems of the state because they need their public to stay independent financially. If everyone will contribute to the economy of the state, the state will progress unconditionally.
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February 25, 2018, 06:13:05 AM
 #40

It seems like I am the ony one who see that the statement from OP is wrong. At least partly.
It can be good for troubled economies to establish their own local cryptocurrency (that will be used only in that country excluding speculations). In this case it will prevent the country from printing new money and increasing inflation. That might be not the only example but I hope you got the point.
On the other side if the country will use BTC as a main currency then they will definetely face a deflation which will still kill the economy. Probably with the same speed as it happen with their fiat money. If it happen in poor countries it will drown them to the subsistence economy.

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