Bitcoin can be useful for a troubled economy

[turkandjaydee]

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.

If people who live in a troubled economy are earning income from bitcoin or crypto, then their income are very high compared to the average income/salary in their country.
Because the cost of living in their country is cheap.

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[Seeker#9]

Bitcoin can provides help for a country that experiencing economic problems only if the government decided to adopt it and use it as one of their existing currencies. People in the country should be allowed to use bitcoinin their daily transaction to help them overcome their financial difficulties. Other countries like Venezuela has created their own coin instead of adopting bitcoin.

[ErikDavis548]

If it is really allowed by the government, I think Bitcoin is the light in the economy. You know, only electronic technology, science and technology to accelerate the economic development of a country.

[suryana]

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.

If people who live in a troubled economy are earning income from bitcoin or crypto, then their income are very high compared to the average income/salary in their country.
Because the cost of living in their country is cheap.

They made the Bitcoin as their main source of income are those who do not have a job in the real world.
Yeah they are indeed have very big earnings every month than office worker.

[airbamboo]

Bitcoin is an economy booster for any country we can see many country fate can be changed once they approve bitcoin as legal currency but most of the country governments are nt in a position to take this step

[deppil]

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.

Agree if the country wants to support bitcoin and crypto. like legalizing it of course there will be many investors and users who will
arrive. precisely the existence of this crypto will make more jobs for their people. and certainly will affect the country's economy

[Haliburton]

If people who live in a troubled economy are earning income from bitcoin or crypto, then their income are very high compared to the average income/salary in their country.
Because the cost of living in their country is cheap.

True. Bitcoin can be very useful especially for people in countries where their national currency is constantly devaluating over time. It gives such people greater spending power, with greater income than what they'd ever had with fiat. For such reason, I think that Venezuelans have migrated to Bitcoin, and have left the Bolivar currency in the dust. Since they're living in a troubled economy, Bitcoin allows them to earn more than their actual salary, giving them the opportunity to live well within their region.

Therefore, in countries that are poor and have an inflationary currency, people would look for alternatives that would help them achieve peace of mind in their financial life. Bitcoin is the perfect solution for a troubled economy, as its benefits are greater than those of fiat.

[thevlox]

yes it is true. How to survive and survive if bitcoin is abailable for them, but they can survive easily. If you want to survive, you will be able to survive easily.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

[Satunaimrotes]

People will be growth country economy also growth automatically. So bitcoin is helpful for the all country people growth. But some country not accept legal way. Coming future bitcoin will be accept all country. If accept the bitcoin all country. It change the world digital ways.

[HSRP]

Bitcoin can provides help for a country that experiencing economic problems only if the government decided to adopt it and use it as one of their existing currencies. People in the country should be allowed to use bitcoinin their daily transaction to help them overcome their financial difficulties. Other countries like Venezuela has created their own coin instead of adopting bitcoin.

Welcome is an important element of the project. It is electronic money and it is accepted in some countries it is good news for them. However, there are many factors that affect the market. It's important to know how to use and control it.

[DOLONCHAPA]

Exactly, 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.

[Atlantic12]

I agree with you 100%. Most developing countries especially suffer an unstable economy. Therefore bitcoin would be of great help.

[Evacarter]

Money is extremely necessary and useful to an economy (useful to most all individuals who make up an economy) because it serves as a:
1. The medium of indirect exchange (alleviating barter inefficiencies/double coincidence of wants)
2. Unit of account (value is subjective and interpersonal value comparisons are impossible, yet we have to attempt to find common standard in order to enjoy the massive benefits of trade and division of labor)
 3. Store of value.
A thing is not money unless it fulfills these three roles to a high degree. BITCOIN IS NOT YET MONEY. Bitcoin is a proto-money virtual token or digital commodity. It is especially not widely used as a unit of account. This is important. This is part of why Bitcoin so prices volatile right now, and its achievement is also dependent upon bitcoin's volatility right now.

[abhi777]

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.

yes I think bitcoin helps us from lack of economic needs because with bitcoin we can invest and get big profits for one's economic needs.

[automaticmoney]

In this falling economy, we can see bitcoin and cryptocurrencies are performing good in many aspects they have proved as secure source of asset for future generations and even banks are coming forward

[BryanRoseWalker]

bitcoin is able to act as an economic alternative and even become a way out when people or countries are still in stable condition

This has not been proven in countries that have just acted actively and changed after experiencing panic in a prolonged crisis to use bitcoin in a sovereign (inflation) system, even Venezuela has not been able to make their economic situation more positive.

[Lengcengteng]

Bitcoin’s and other cryptocurrencies capability is superb and many people will support it if these cryptos become legal to their state, many investors will be willing to build a company into their land, and another establishment. But on the other hand is this country or economy can support that bitcoin’s technology, like a fast internet connection and users that using modern technology.

[beyasuli]

Exactly, 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.

For countries that are facing an economic crisis, the use of bitcoin might be able to provide business opportunities or trade solutions, where their fiat currencies are falling so prices are very expensive. But of course the effect is not significant because bitcoin will be converted again at the local currency exchange rate. So, the role of bitcoin is more to ease transactions between regions or between countries, because it speeds up and simplifies.

[carlisle1]

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

Then whats happening to venezuelan government as they are focusing in crypto tobring their economy grows again and prevent them from falling into pieces?Seems like it wasnt working on them,my own perception only nothings personal.

But i believe if the governments will accept and give bitcoin a chane then i know this will be a big help for those dying economy now

[Proudmore]

Yes, some governments have been unable to save their economies, and only rely on cryptocurrencies to save the economy. For example, Venezuela. If they don't rely on cryptocurrencies, they may never become rich countries in the future.