Bitcoin can be useful for a troubled economy

[joshuarose]

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

yeah and bitcoin can be obtained for free or work online and pay using bitcoin.
This is useful for solving economic problems in the world

[NevejElad]

Bitcoin can be of help to a trouble economy , because one problem of an economy is the unemployment of people in that certain place, and bitcoin had offered to join to their bounty ICO project to help them promote it ,then you can registered and join and at the end you be rewarded with tokens and convert it to fiat via ethereum exchanges and this could help people have an invome than nothing at all work to do.

[chosenboy4]

that bitcoin can be easier to obtain than other fiat currencies. It can be bought and sold via bitcoin exchanges online.

Evidence suggests that people are increasingly looking to bitcoin as a viable alternative to their own beleaguered currencies during times of crisis. As the Greek crisis unfolded, bitcoin exchanges reported a healthy bump in volume as people traded the cryptocurrency around the world. The lion's share of the increase came from customers in Greece.

The price of bitcoin also rose significantly as the Greece crisis deepened, lending further credence to the idea of bitcoin as a "panic" currency.

[Mikado_]

Bitcoin can be very useful for a troubled economy, because it helps people to protect their savings.

People convert fiat currency into bitcoin, and they are protected against inflation and money printing.

[julius caesar]

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

This may be true ,but as I can see that Bitcoin is unneccessarily connected to a county's economy if there would be limited or no entities who would lile to run with the help of cryptocurrency and I think the only thing it may offer is opportunities to people directly that will help them to acquire a decentralized job for them to sustain themselves and their families without havinv processed by the government.

[Rumayanhi]

I think it's true that bitcoin can help people get out of poverty and provide a better financial future, many people including me have felt the effects of bitcoin, bitcoin can provide new income and job opportunities that can help people to get a better life, if the government supports bitcoin so it will definitely increase prices and bitcoin can help more people

[agnostos]

I think it's true that bitcoin can help people get out of poverty and provide a better financial future, many people including me have felt the effects of bitcoin, bitcoin can provide new income and job opportunities that can help people to get a better life, if the government supports bitcoin so it will definitely increase prices and bitcoin can help more people

Bitcoin is truly amazing, it gives many possibilities in the technology today with the help of blockchain. The economy would be more better if bitcoin would use, it will help the whole world and economy.

[amber deposit]

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.

[Bakayaroo0]

I thogut it would be possible, bitcoin can help the economy. We know how to convert our own money to bitcoin, in vice versa, we can also convert bitcoin to our own money, it can help our own economy to have their own income in bitcoin. We see how bitcoin can be popular for one country. We must know what will be the pros and cons of bitcoin for every economy. Just keep up the good work and good luck.

[OrangeII]

if you think about it normally, it can indeed be very helpful, even it can fix economic problems. however, it can't be thought of like that, because the use of bitcoin itself is very difficult to guess. so we must be prepared with all the risks.

[christysmile]

To offer bitcoins (and crypto-currencies in general) as an alternative to the dollar for troubled economies is the same as offering to give bitcoin a role equal to the dollar in the world economy. The Federal Reserve will never allow this to happen, because this goes against the interests of the US more than anything else.

Maybe. But if Bitcoin becomes widely popular around the world, then it could become a nice alternative to fiat. In troubled times where, real world currencies experience the dreaded inflation rates, there's the choice to protect your capital with Bitcoin. As such, I think that Bitcoin will be compared to Gold in the future, due to its scarcity and unmatched security. Bitcoin has many benefits beyond that of Gold, since it provides portability and even fungibility (with privacy upgrades of course).

National currencies may still exist in the future, but decentralized coins like Bitcoin and Ethereum will become the safe-haven for people looking to preserve their financial future. And since Bitcoin is deflationary by design, they'd get more spending power over time as it becomes more valuable each day. One good example is the case of Venezuela, where its citizens have chosen Bitcoin as an alternative to their flawed economic system. The Bolivar currency has experienced a hyperinflation, leaving Venezuelans with no choice but to adopt Bitcoin as their currency for daily payments. Since Bitcoin gives them a lot of spending power over the Bolivar currency, it's no wonder why it's so popular in that country.

Therefore, Bitcoin can be useful as a safe-haven asset in times where you cannot depend on fiat for your daily needs.

Exactly. This is the role that bitcoin will have in the future. But by no means will it be able to serve as a reserve currency or medium of exchange for trade. Perhaps some businesses will use it, but it cannot be adopted by countries or major corporations. It's just not orthodox.

In fact, it's much more useful than gold is as a hedge. Imagine your currency is crashing through the floor while you're at work. Would you rather run to the bank, pull out cash, and then run to buy some gold? Or just wire it over to a bro at localbitcoins.com ? Yeah, it's a lot easier, and no one needs to know where it goes

[ShineftChaos]

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.

I do agree on you, if most of the governments in other countries are just allowing cryptocurrency then people can easily make money to pay taxes which will improve the economies growth.

[kukurikapu]

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 of course and it would be a huge help for the economy. What might be the problem is that yes, we may have a lot of bitcoin users and they are wealthy, but are they willing to help the econmy or just themselves?

[Haliburton]

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.

True. But, if cryptocurrencies become the norm of our worldwide economy, then I guess that the negative effects of volatility would be greatly reduced in the future. It's all about adoption and real usage of cryptocurrencies in the real world. We've seen that Venezuela was among the first countries to launch its own cryptocurrency. Other countries are researching Bitcoin's blockchain technology, to do the same in the future.

While there will be a distinction between decentralized cryptocurrencies like Bitcoin and Ethereum, versus national cryptocurrencies like the Petro, and Fedcoin, I think that decentralized ones will be more useful for a troubled economy. Having no central authority, and a deflationary model (like Bitcoin), will allow such cryptocurrencies to serve as a haven for investors looking to preserve their capital for a long time.

Therefore, without a doubt, Bitcoin and other cryptocurrencies will become useful for a troubled economy in the future.

[Pinkris128]

maybe it depends on each country how to react to it. if the country supports the existence of bitcoin by making policies and rules that can make bitcoin develop, it can be able to solve the country's economic problems. because of bitcoin future prospects

Yes it still depends on the country and user of it if they will going to used bitcoin to solve some financial problem in their economy. In fact it was really helpful and hsve big effect on the economy since bitcoin was very valuable and useful now. It already changed many lives into something better from nothing. Hardwork and perseverance was they need to have if they want to have progress and changed to their country.

[Hundian]

Yes, I think Bitcoin can help development countries economy. Bitcoin can give job and give income to investor or bounty hunters. This can help increase economies money coming from outside source.

[NicoleMorgan764]

For the economy should not develop. Governments will not let anything directly affect their economies. But if they allow Bitcoin to operate in their own country, they will help in part make that economy grow.

[jack wira]

Perjuangan hidup termasuk mencari ekonomi yang mudah dan praktis.. bitcoin termasuk solusi untuk mengatasi problematika ekonomi yg lemah.. anda boleh mencoba mengikuti forum ini dan memang terbukti bisa mengatasi masa yg sulit.. saya nerasakan nya.

[Leenkoranan]

It can be possible to make a good solution to those troubled economy because as we know bitcoin do a lots of good intentions in our society today,many are now having better source of business/income while bitcoin appears in our society.,so i beleive to that saying.

[ntarah langger]

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

right, and that has now happened.
bitcoin really proves to be very useful, do you not read the news about the Venezuelan country that is currently experiencing an economic crisis.
at this time the citizens of the country won to bitcoin as a means of payment, because the country's currency can be said to be almost completely worthless. very concerned.