Bitcoin can be useful for a troubled economy

[Epimetheus]

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.

Yes it can be. Many developed countries like japan Germany work with Bitcoin to improve their country economy. Many developing countries with poor economy growth work with Bitcoin to develop their economy growth. Bitcoin improve those country economy by reducing the unemployment issue in their country. Bitcoin  transaction facility like bitpesa is also help to improve their country economy growth. Bitcoin is not only an country to improve their economy also help individuals person or family to improve their economy too. 

[SixOfFive]

Yes, that is possible. Because in times of distressed economy, the purchasing power of people is quite less. Less money flows into the market. But with Bitcoin, the financial position of the people can improve after earning profits. With this extra income their purchasing power rises and they spend more money willingly which can benefit and improve the condition of the economy.

[nabinkhadka]

Yes , Bitcoin can be useful for a troubled economy because the supply is very limited and again disadvantages are its transcation cost and time of execution if these are to be solved we can i believe it can be useful.

[XCANA]

Bitcoin can be very useful in a trouble economy in so many ways.  Take for example, in an economy where there is high level of corruption if Bitcoin happen to be regulated by the government and has the control it usage then bitcoin can be use in check mating such activities or transactions in other to avoid or reduce corrupt practice.

[boksoon]

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 true, bitcoin is really great and very useful for a troubled economy how much more in normal situation, unless there is government not allowed to people using this and strictly prohibited to use bitcoin. you know here is our chance to make our own profit without in the line of business, usually when it comes to doing business the people involve here is within a higher standard but for bitcoin even if you are not a professional we including to the line of bitcoin crypto currency world.

[rahul10]

This myth of BTC being the savior of the needy needs to stop. The vast majority of people in troubled/impoverished countries simply and factually cannot afford to buy BTC.

In Venezuela people, in a very literal sense, cannot afford food, let alone a crypto which as we've seen in the last 3 months can be extremely volatile and lose value rapidly. In the case of Zimbabwe is even worse as they grapple with famine, tribal wars and other socio-economic issues. More fundamentally, though, pretending BTC is a reliable, dependable store-of-value instrument poor folks should invest on is morally and intellectually dishonest.

[Godexists]

In my opinion yes.bitcoin is the solution and useful.specially to the world country that is very rare of poverty to the corruption country.there's so many ways that can bitcoin be useful.

[raahi]

It all depends on what is causing the trouble in the first place, many economies collapse in the state of economic war or trade and actually wars with other nations, in that case, the adoption of a currency that is dependant upon a digital system may not be the smartest move to make.

[GangNamSK]

This myth of BTC being the savior of the needy needs to stop. The vast majority of people in troubled/impoverished countries simply and factually cannot afford to buy BTC.

In Venezuela people, in a very literal sense, cannot afford food, let alone a crypto which as we've seen in the last 3 months can be extremely volatile and lose value rapidly. In the case of Zimbabwe is even worse as they grapple with famine, tribal wars and other socio-economic issues. More fundamentally, though, pretending BTC is a reliable, dependable store-of-value instrument poor folks should invest on is morally and intellectually dishonest.

Bitcoin does not depend on any government or bank. The value of bitcoin is not eroded by the inflationary policy or mass issuance of the rules by which bitcoin-related regulations are determined from the beginning and remain unchanged. Initially, bitcoin could attract curious people on blockchain technology, favors innovations. But later on, many people were involved in bitcoin because it helped them realize their dream: changing the monetary order, minimizing government intervention.

[Haliburton]

Bitcoin does not depend on any government or bank. The value of bitcoin is not eroded by the inflationary policy or mass issuance of the rules by which bitcoin-related regulations are determined from the beginning and remain unchanged. Initially, bitcoin could attract curious people on blockchain technology, favors innovations. But later on, many people were involved in bitcoin because it helped them realize their dream: changing the monetary order, minimizing government intervention.

That's true! Indeed, Bitcoin is not dependent on any bank, government, or centralized entity whatsoever. It's the people's money where anyone regardless of their age, political status, race, or gender, can participate in it without restrictions or limitations. Whereas real world currencies require ID verification most of the times (especially when dealing with them online), and are subject to inflation, cryptocurrencies like Bitcoin are all the contrary making them the ideal haven to protect your capital against undesired events in the real world.

Bitcoin resembles Gold in the way that its value is not determined by a central authority, but rather its scarcity in supply. With a deflationary model, a supply of no more than 21 million coins in existence, and unparalleled security, Bitcoin is an extremely useful currency for a troubled economy. In times where there's political conflict, war, or government disputes, people would turn out to decentralized cryptocurrencies like Bitcoin to help protect their capital. And even if countries decide to ban it, they'll never be successful in removing it from circulation as Bitcoin lives across the internet. Therefore, the whole internet would need to be shut down, for Bitcoin to cease to exist, making it the perfect alternative to real world currencies we're accustomed to.

[patimahsunda]

I think so. Bitcoin can be useful for building a country's strong economy. Why bitcoin can be useful for the economy? I think there are people who work in this field of cryptocurrency and that certainly reduces the number of unemployed in a country. So of course bitcoin helps the economy.

[AssemblY]

it be preferable and it in reality cure however this be enforced in the approaching whether question about cryptocurrency are fix.

[PlusOne88]

Yes, I think it he has a point. We see people invests in bitcoin for the purpose of getting money. And only when a person gains for his or her country that he or she will be able to help it. A troubled economy does not have so much to lose so if the constituents of such country earn from countries with stable economy like getting paid with bitcoin for services rendered online then that would be good for the troubled economy. So I do agree on him.

[jayyen]

A troubled economy can see great jumb with the power of cryptocurrency.Cryptocurrency has the ability to provide jobs,attract investors, miners etc into an economy that is cryptocurrency friendly. This will enable the returns and profits made from traders or miners to stay in the country and help to develop the economy.The advantages of cryptocurrency cannot be underestimated for any economy.

[signaturecoin]

This myth of BTC being the savior of the needy needs to stop. The vast majority of people in troubled/impoverished countries simply and factually cannot afford to buy BTC.

In Venezuela people, in a very literal sense, cannot afford food, let alone a crypto which as we've seen in the last 3 months can be extremely volatile and lose value rapidly. In the case of Zimbabwe is even worse as they grapple with famine, tribal wars and other socio-economic issues. More fundamentally, though, pretending BTC is a reliable, dependable store-of-value instrument poor folks should invest on is morally and intellectually dishonest.

Investing and researching the cryptocurrency and bitcoin markets is the pathway of some poor countries in Africa to change the country's economy. I hope that is the correct direction of these countries to bring better life for the people of their country.

[dmcx]

I do not think Bitcoin can help the economy when the economy is in trouble. Because Bitcoin itself cannot grow stably because there are many sharks that are manipulating the market

[slyfox]

A troubled economy can see great jumb with the power of cryptocurrency.Cryptocurrency has the ability to provide jobs,attract investors, miners etc into an economy that is cryptocurrency friendly. This will enable the returns and profits made from traders or miners to stay in the country and help to develop the economy.The advantages of cryptocurrency cannot be underestimated for any economy.

The problem for governments is that it is going to fuel the bitcoin economy but what they can get out of it is going to be very little since they have no way to know that all of that economic activity is taking place in their country but people are going to benefit from it, but the bad thing is that governments prefer that their citizens remain poor and controllable than rich and free.

[bizalaz]

Yes indeed. Bitcoin and other altcoins are very useful for countries with a troubled economy, especially in the countries of the third world, where the means and the output of money are rare.

[setialovers]

Bitcoin created with a new monetary system. Monetary system we know right now is too corrupt because central banks abusing their authority by always print money. Bitcoin have limited supply and i think if used as currency, bitcoin can make a stable economy

[lolehiM92]

If some country's economy is in difficulty it is possible for bitcoin to enter and it will lessen the difficulty as well as they will contribute to the development of that economy just like what bitcoin was. do 2008