Bitcoin can be useful for a troubled economy

[nikolabt]

Nice to see a big company supporting crypto. It will boost the prices and growth in the long run.

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[Ava Duvall]

In my opinion, that's right. We need a world currency to import and export and its only the virtual currency which is bitcoin. There are many lives that has been change because of bitcoin, even undergrad are welcome into this.

An idea, but i dont think its a real possiblity. a lot has to go into making a world currency work

[hitchcoin]

If we will find some guys who will be fresh and experienced in Bitcoin and blockchain I think our community will be beneficial from the improving economy system of our country.

[Ava Duvall]

yes it can be useful and it can really help but this can be implemented in the future if problems regarding cryptocurrency are fix. just like he said the manipulation of prices if their is no fix price it will be a big problem. and not all can used this because some lived in rural land with no electricity and with those poor people too.

manipulation of prices is probably the biggest problem that can be fixed. bt countries and rural areas like you mention could be have problems.

[Haliburton]

Bitcoin can be used if the economy has a lot of government restrictions and it is the only instance of fiat money that is causing all the troubles., now mostly the cause of a troubled economy is corruption with the blockchain network the corruption problem can be solved,

I concur with you, my friend. Blockchain technology does solve fraud and corruption, leading to a strong and stable economy (when applied to cryptocurrencies) for the masses. Bitcoin being the first successful blockchain application, it's the perfect safe-haven asset to secure your funds for the long term. Given that it's limited by design, and highly secure, it's no wonder why it's called the "Digital Gold" of crypto. Anyone from around the world can make use of Bitcoin without restrictions (even if it's banned in a specific country) because of its decentralized nature.

Therefore, I think that Bitcoin will serve as the perfect asset to help people in their time of need. It protects their money from the inflation experienced by real world currencies, while giving them greater spending power as Bitcoin becomes valuable over time.

[Acsirp]

Yes ,bitcoin can be useful for troubled economy especially the unemployed people , for they are limited in buying goods which is part of the economy and business, because this people have no income , if they are introduced to bitcoin forum  ,so they might be earning income and have some money to sustained for daily needs , as a little things ,bitcoin can help in this economic situations .

[JohnPierson]

Now the infrastructure of such countries is not developed to smoothly accept crypto as an alternative to their unstable fiat currencies - it's the first. They simply use US dollar as an alternative. And the second is crypto is more unstable than the currencies.

We need more crypto-to-fiat services. The wide acceptance of proper legislation. And more money in crypto to make it mass-adopted.

In my opinion fiat currencies will not dissapiar and crypto will not replace it. Crypto by it means has eirther a purpose of value saving (like Bitcoin) or unit of service like tokens in a blockchain ecosystem. Anyway, we will see. It's very interesting to see how things develop and opinions change.

[weblaraveluser]

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

In my own opinion, bitcoins can actually help the economy to improve because in this way, people will have an alternative way of earning income.

[Sergio444]

Well, there is no doubt about that because bitcoin has so many potentials, and help an unstable economy stabilize is one of its qualities. But this is the case that we find ourselves in countries that the usage of bitcoin is being banned. How then will it unravel its potential in stabilizing a broken economy?

[SunJAB]

Yes ,bitcoin can be useful for troubled economy especially the unemployed people , for they are limited in buying goods which is part of the economy and business, because this people have no income , if they are introduced to bitcoin forum  ,so they might be earning income and have some money to sustained for daily needs , as a little things ,bitcoin can help in this economic situations .

Bitcoin is slowly becoming a global trend and many countries are now using Bitcoin and cryptocurrency as a market to change the country's economy. Previously, cryptocurrency was concentrated in Europe and Asia, but now Africa is developing very strongly with many countries publicly using the BTC.

[rainezerr401]

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

In my own opinion, yes it was useful for troubled economy because people who are using cryptocurrency can have more income by trading in the market which they can be used in their daily needs.

[dillema018]

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 has a lot to offer when it comes to treating the economy of a certain country, it is common for the crypto enthusiast to think it that way because of the blockchain technology that will support the economy of a certain country.

[Xising]

 

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.

Cryptocurrency, and Bitcoin to be specific, has long shown that it has the capacity to help troubled economies be in a better state. There are so many African countries recently that has been exploring in terms of venturing in the cryptocurrency market, and it has really impacted their economy a lot. Same thing with those early adapter like some people in the USA and Asian countries like Japan, which has been really open in accepting and trying out the good possibilities the cryptocurrency market could bring.

[dillema018]

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

Well that isn’t something worth to say. Here, we are talking about development of the country with respect to its economy. And bitcoin is although of much great importance in playing such part. But as far as current scenario is concerned, bitcoin isn’t sufficient to become integral factor of increasing the values of economics for a country. This will happen but after few years not now.

The coin itself has a lot to offer, because of it potential to become the next permanent currency of every country, Bitcoin has a lot to offer when it comes in improving the economical growth of the countries and the technology of it.

[yugyug]

As i see bitcoin popularity was concentrated on a stabilized economy like Rich European countries and rich Asian countries like Japan, South Korea and China and still bitcoin was not yet fully adopted to other developing third world countries like Africa and other parts of Southern America region and Latin- America countries bitcoin price was high and may not even useful for the latter for the transaction fee alone was still high.

[dlhezter]

As i see bitcoin popularity was concentrated on a stabilized economy like Rich European countries and rich Asian countries like Japan, South Korea and China and still bitcoin was not yet fully adopted to other developing third world countries like Africa and other parts of Southern America region and Latin- America countries bitcoin price was high and may not even useful for the latter for the transaction fee alone was still high.

Yes, Bitcoin has a lot to offer in the economy, it has he potential to give an economical growth in the system of the government as well as the country itself., It will be having the solutions for this matter, including technological growth.

[Eigig]

It is true ,bitcoin can be useful for troubled economy because ,one of the problem is unemployment and can contribute to the economy, and bitcoin can also help unemployed people ,by joining the ICO bounty campaign and you can earm tokens and that you can use them for your needs , so it is really of help for the unemployed and the the economy of the country.

[Rooster101]

If the people that lives in a country with troubled economy have complete access to the internet then cryptocurrencies will be a big help to them provided that they know how to used it properly. Cryptourrencies are volatile and there is a possibility that they might lose their bitcoin before they can use it fully. The government in that troubled economy might also restrict its people from using any cryptocurrencies or put the exchanges in a strict regulation.

[dharnamonitor]

In my country, we are currently experiencing the highest inflation within seven years. Since the bitcoin is decentralized we can used it to lift up our daily finances and prevent from being extremely affected by the increasing prices of products,  services and other expenses. But there are still a lot of risk since it has a high volatility.

[BlackMoon25]

If the people that lives in a country with troubled economy have complete access to the internet then cryptocurrencies will be a big help to them provided that they know how to used it properly. Cryptourrencies are volatile and there is a possibility that they might lose their bitcoin before they can use it fully. The government in that troubled economy might also restrict its people from using any cryptocurrencies or put the exchanges in a strict regulation.

There are two big problems with a troubled economy:

- The government is too stupid so they ruin the economy: in this case, even they use crypto as a solution to rescue the economy, they will use it in the wrong way (like Venezuela)

- The people are too lazy to work: in this case, they won't try to learn how to use something hard to understand like crypto or how to protect their crypto wallet.

Crypto can't solve a troubled economy! At least until now!