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Author Topic: Bitcoin can be useful for a troubled economy  (Read 2377 times)
abhi777
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September 08, 2018, 02:17:01 AM
 #561

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. Wink
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.

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September 08, 2018, 04:05:37 AM
 #562

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
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September 08, 2018, 07:11:25 AM
 #563

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.
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September 12, 2018, 07:59:46 AM
 #564

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.
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September 15, 2018, 12:06:13 PM
 #565

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.
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September 15, 2018, 12:14:14 PM
 #566

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

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September 16, 2018, 08:52:26 AM
 #567

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.
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September 16, 2018, 09:08:09 AM
 #568

As for me, Bitcoin is useful not only in a country where there is troubled economy but also to all the countries. Fiat money is an old money that should be replace with something that perfectly fits the circumstances of the present. And that would be Bitcoin, the leader of all digital currencies. However, we should not look at Bitcoin as a healer of a troubled economy. It is just a currency.

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bocah cilik
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September 16, 2018, 09:26:21 AM
 #569

Yes it is true, using Bitcoin or Altcoins, can help economic growth. For trade, I feel it is much easier than using FIAT money or bank transfer. It does not take long and does not require an intermediary fee. Even the amount sent does not have certain restrictions.
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September 16, 2018, 11:16:06 AM
 #570

For true investors, they will have business strategies. They will pay back the profits to the problems of society and solve the difficult economy.
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September 16, 2018, 11:20:52 AM
 #571

As for me, Bitcoin is useful not only in a country where there is troubled economy but also to all the countries. Fiat money is an old money that should be replace with something that perfectly fits the circumstances of the present. And that would be Bitcoin, the leader of all digital currencies. However, we should not look at Bitcoin as a healer of a troubled economy. It is just a currency.
Your thinking is too narrow, you just look at the usefulness of bitcoin with your perspective and not recognize the perspective of the whole world, you join and feel bitcoin is useful but the world and many countries do not participate in bitcoin, they can not see the usefulness. In addition, the economy is troubled and problematic, this is mainly due to the management of the government and the people of a country, they lack so much knowledge, and Bitcoin can not help them supplement it, it's just a tool
onepiece1995
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September 16, 2018, 11:23:41 AM
 #572

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


I really agree with this opinion, because it is true that bitcoin can help the country's economy and reduce unemployment, of course. so that an economy of a country will add to the existence of a society that uses bitcoin
Samolet
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September 16, 2018, 07:25:25 PM
 #573

As for bitcoin, this is another possibility, it's a parallel world. All banks in the world have so much regulated transactions that this has led to the collapse of the entire financial system. Any transaction is considered under a magnifying glass, additional papers are required under the threat of closing the account, without court you can block transactions the business rises !!
The cost of transactions is growing, there is no alternative. Large banks charge incredible maintenance bills. Keeping money in the bank brings a meager income, and the risks of losing money as a result of "regulation" are huge.
So think the bankers who is to blame for the appearance of bitcoin.

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September 16, 2018, 07:27:16 PM
 #574

This can be true but I think for now its only for Zimbabwe's case
Violettochka
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September 16, 2018, 09:17:56 PM
 #575

I think so as well. BTC and blockchain can really help economy of a country to develop because it's the whole new system and its principles seem very good to the economy.

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September 16, 2018, 10:55:31 PM
 #576

Yes, bitcoin and altcoin will help the troubled countries. Many ICO projects will attract investors. The national economy will develop. The banking system will change to pay the coin. The electronic money market will be vibrant, creating momentum for economic development.
Dark Sky
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September 16, 2018, 11:25:29 PM
 #577

Yes, bitcoin and altcoin will help the troubled countries. Many ICO projects will attract investors. The national economy will develop. The banking system will change to pay the coin. The electronic money market will be vibrant, creating momentum for economic development.
Yes, Bitcoin can improve the economy of those countries who are troubled by poor economical situation and their people can make much more money for their poverty life, so that's why those countries will earn a lot of money and they can recover many social works for their citizens and I think it will happens very soon and every government will accept this currency for their economic improvement. 

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September 17, 2018, 02:49:25 AM
 #578

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



Exactly Bitcoin should use being as an alternative source of income during the trouble economy and even this time while bitcoin is still on negotiation and analyzed with individual and government it will continuously operated and provide to all  the people needs.
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September 17, 2018, 03:46:26 AM
 #579

Yes, I have been helped by Bitcoin, I use the market to get additional profits after I go home from work.  Grin
Bitcoin is very easy to use to trade, without a third person, it makes it easy in the trade economy if you use it.
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September 17, 2018, 06:50:47 AM
 #580

Bitcoin can restore a troubled economy. This is reflected in the fact that the commercial activities of the country have attracted large investors.
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