Bitcoin can be useful for a troubled economy

[MonsterV]

It is necessary to make certain proposals on how Bitcoin can help the economy, and not just speak for or against.  The fact that we have the opportunity to improve our financial condition does not mean that the state will be able to correctly use the opportunities of cryptocurrency to improve its economy and replenish the budget.

But unlike Venezuela, this country takes the opportunity of cryptocurrency to improve their economic conditions. Last year they launched a coin named Petro, well this coin is worth around $60, hoping that they can get a new budget amid the crisis that has hit their country since 2012.

Venezuela doesn't just launch coins, but they encourage more Bitcoin mining. Well this is clear evidence that crypto can be an opportunity in the economic crisis, although I know that not all countries will take this step. But I think there are still opportunities if these countries are in conditions such as Venezuela.

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[princeyeboah]

Of course, Bitcoin has got the capabilities of improving upon the economy of a country. This can be achieved through the financial independence and job opportunities created by Bitcoin and the Blockchain technology at large. With Bitcoin, the people can join the Bitcoin mining, bitcoin merchants as a form of employment and this will improve the economy of the country.

[kpcian]

Yes, I also agree with this point. day by day Bitcoin is getting accepted around the world, Most of the countries are getting used to this virtual coin. so it could be a good solution for this conventional monetary system.
Since this system is a decentralized based so it might be a great source of payment and investment purpose. When you have a decentralized monetary system then it will help you to manage properly of his investment for the future purpose. So Bitcoin will be a major tool which might be a useful element in a troubled economy.

[noormcs5]

It is necessary to make certain proposals on how Bitcoin can help the economy, and not just speak for or against.  The fact that we have the opportunity to improve our financial condition does not mean that the state will be able to correctly use the opportunities of cryptocurrency to improve its economy and replenish the budget.

Many people say that if we use the bitcoin in their economy that would help the country. I think there should be a plan on it on how can it will help the country's economic position. Only making bitcoin legal will not help the economy.

[seanskie18]

I totally agree with you, we can used Bitcoin if we don't have a good economy in our country. Bitcoin and other cryptocurrency will bring stability in our country's economy, that will help to all people live a better place. So, that means our troubled economy will turned into a progressive economy and that will be a good.

[Jorge158]

I don’t think Bitcoin is a way out for countries with a problem economy. They need good business plans for the country, gross product, jobs. What will help them bitcoin octory cost can collapse?

Very well said because lots of factors come to play when it comes to the economic status of a country. Although Bitcoin can contribute to the betterment of a troubled economy, the country needs other factors like good and reliable businesses, high level of tourism to bring foreign exchange etc.

[romero121]

A troubled economy can't be easily recovered with the help of bitcoin. This happens purely based on the participants on the economy. If there is very small number of people in the respective country use bitcoin then it won't make any changes in the troubled economy recovery. A large scale adoption in the country will help with making some development on the economy. It will not make any immediate impact, it also requires time as the market is highly volatile than the traditional market.

[bitbunnny]

bitcoin has a lot of similarity with Gold that make it recommendable for storage of asset and value during economic crises; such factors as durability, fungibility and scarcity. However, its digital nature give it some advantages to Gold; its easy storage without third party, easy and better security, liquidity on the internet, potability and divisibility.

Yes, but that could help only individuals during some economic or financial crysis. Countries can't do that because as far as I know Bitcoin isn't formaly and legaly introduced into economy system of any country in the world. So countries could use benefits of gold for their ecomies but they can't use Bitcoin.

[tungaqhd]

A troubled economy can't be easily recovered with the help of bitcoin. This happens purely based on the participants on the economy. If there is very small number of people in the respective country use bitcoin then it won't make any changes in the troubled economy recovery. A large scale adoption in the country will help with making some development on the economy. It will not make any immediate impact, it also requires time as the market is highly volatile than the traditional market.

Of course, a troubled economy is a disease, and if we want to tackle the disease thoroughly, we need to know the source of the disease, and it is very clear that this disease comes from the government, they are the managers of a country, the economy is so bad, they have the first mistake, the next mistake is very objective, it comes from everyone in that country. If everyone was trying and creative, the economy wouldn't go down. And we can see that the uses and features of bitcoin do not help with those problems, bitcoin is just an investment

[yulionoo]

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 i think that statement is true. Venezuela is a country that is experiencing an economic crisis. this country is experiencing hyperinflation. the value of the bolivar currency is falling. so find a solution to overcome this problem. if they take out debt, it will make things worse so they choose another alternative, which is to use bitcoin cryptocurrency. the last few years the demand for bitcoin in venezuela has continued to increase. some residents now use bitcoin for everyday transactions.

[secretgirl]

yes, I think with the presence of bitcoin or digital currency in a country whose economy is less stable it can help as an alternative to more efficient means of payment. in a developed country, in my opinion, with the presence of bitcoin can help facilitate transactions, especially in a country whose economy is less stable. maybe traditional currencies will be increasingly helped if in a less developed country, digital currencies and traditional currencies can both work as daily payment instruments.

[agentx44]

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 has all the ability to lift up an entire economy if only it would be allowed by the government of a certain nation. Convenience would not be the only thing that may be given to the people but also the chance to have an extra income through investments. Unlike fiat, bitcoin is a volatile currency, that means it grows and falls sometimes but if only the blockchain would have lots of investors, then the price will surely rise. Though it's a good ide, having bitcoin save an economy is still a theory since it is not proven yet since it is not tolerated in some country.

[sirminesalot]

A troubled economy can't be easily recovered with the help of bitcoin. This happens purely based on the participants on the economy. If there is very small number of people in the respective country use bitcoin then it won't make any changes in the troubled economy recovery. A large scale adoption in the country will help with making some development on the economy. It will not make any immediate impact, it also requires time as the market is highly volatile than the traditional market.

very true that you convey in your opinion and bitcoin can indeed improve the economy indirectly if everyone who uses bitcoin of course the country's economy will be better and develop a good economy of course starting with the good people economy

[FlightyPouch]

It is necessary to make certain proposals on how Bitcoin can help the economy, and not just speak for or against.  The fact that we have the opportunity to improve our financial condition does not mean that the state will be able to correctly use the opportunities of cryptocurrency to improve its economy and replenish the budget.

Many people say that if we use the bitcoin in their economy that would help the country. I think there should be a plan on it on how can it will help the country's economic position. Only making bitcoin legal will not help the economy.

I don't even know how bitcoin will be helping these countries with economic trouble. I don't understand how would bitcoin do that. In our case, we can earn a profit in our investments since we are investing in. In terms of other people, there are a lot of them that don't prefer using those that is why I don't think it would of help in that certain country.

[sapnu]

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 is a great cryptocurrency that holds lots of great capabilities to uplify an economy from nothing to everything. If some of the countries in the world would start using bitcoin, there is a huge probability that most of their economy would rise since bitcoin is a taxless currency and most of the fees you need to pay for it is not as expensive as the tax people are being asked about. Also, if the value of bitcoin grows, it would surely boost up the economy of that certain country. Let's hope one of the country in the world would try it someday so we can see if it's a fact or not.

[Republikcoin.com]

bitcoin has a lot of similarity with Gold that make it recommendable for storage of asset and value during economic crises; such factors as durability, fungibility and scarcity. However, its digital nature give it some advantages to Gold; its easy storage without third party, easy and better security, liquidity on the internet, potability and divisibility.

Yes, but that could help only individuals during some economic or financial crysis. Countries can't do that because as far as I know Bitcoin isn't formaly and legaly introduced into economy system of any country in the world. So countries could use benefits of gold for their ecomies but they can't use Bitcoin.

the most basic thing that distinguishes gold and bitcoin is its volatile price. the price of gold is very stable and can be used as a basis for Fiat values, and that can be used to solve economic problems. while for bitcoin that has a price that is not fixed, but I think, if used properly, bitcoin is also able to solve economic problems. it's just that until now there has been a lot of disagreement about bitcoin from various countries.

[Colt81]

It is necessary to make certain proposals on how Bitcoin can help the economy, and not just speak for or against.  The fact that we have the opportunity to improve our financial condition does not mean that the state will be able to correctly use the opportunities of cryptocurrency to improve its economy and replenish the budget.

Many people say that if we use the bitcoin in their economy that would help the country. I think there should be a plan on it on how can it will help the country's economic position. Only making bitcoin legal will not help the economy.

I don't even know how bitcoin will be helping these countries with economic trouble. I don't understand how would bitcoin do that. In our case, we can earn a profit in our investments since we are investing in. In terms of other people, there are a lot of them that don't prefer using those that is why I don't think it would of help in that certain country.

In my own personal opinion, bitcoin could help the economy of a country by giving people a source of income to provide his necessities and to pay his debt by doing trading and investing in bitcoin, by that it could help to reduce unemployed people in a country, and unemployment is one of the economic problems that can be help by bitcoin.

[blckhawk]

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

But how will they earn bitcoin? Same logic goes to how they can earn fiat? Fiat or cryptocurrency, there must be a means to earning them. Sure, cryptocurrency could open up new opportunities but I don't think a large percentage could utilize it, especially for third-world countries. It does, however, provide ease in transactions, removing limits and intermediary. It could be, as it said, me another means of payment, but I don't really know if all of these would do better to a slow economy. Given that bitcoin transactions require network connection, and validation is not that fast, it will still be a theory.

[teosanru]

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 this is undoubtedly true. Especially for the economies which ate facing the issue of hyper inflation it helps in stabilization of prices because the volatility of btc would be much less than that of their own hyperinflated currency. But I think keeping it in game for too long could possibly lead the whole Economy into a Deflationary spiral because bitcoin doesn't provides room for growth of the economy.

[panganib999]

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

If the problem is the country's insufficient provident of traditional money, bitcoin would really be of big help for it is a digital currency, there's no need for the country to problematize about printing it and reproducing it to put up with the country's demand. Meanwhile, in terms of payment,  It will surely be preferred as means of payment especially the volatilty of bitcoin would be much less and will do a counter act or alternative to avoid inflation of the currency by using bitcoin.