Bitcoin can be useful for a troubled economy

[AjithBtc]

Countries that have been experiencing a big collapse in the economy can prefer the bitcoin to overcome such collisions. Though governments around has got difference of opinion about the adoption of bitcoin as well other digital currencies very few make it come true. Till date no government have experienced a fall on bitcoin adoption as well some countries were suggested for an adoption to overcome economic problems, one of which is Zimbabwe.

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[marcelocoin]

Bitcoin has always been good for any collapsing economy, mainly venezuela, and argentina, or devalued currencies, where simply buying the bitcoin you have a more secure value reserve and you can exchange for any fiat currency globally by paying a low rate and not having costs to save!

[Vaskiy]

Bitcoin has always been good for any collapsing economy, mainly venezuela, and argentina, or devalued currencies, where simply buying the bitcoin you have a more secure value reserve and you can exchange for any fiat currency globally by paying a low rate and not having costs to save!

In recent days Venezuela is the one that suffered an economic collapse and with its own cryptocurrency backed by oil regained the stability in the economic growth. This gained a lot of attention from the common people who are new to cryptocurrency, and the government could've organized in a much better way, because even in that some issues arise stating the failure of the government.

[Farma]

Bitcoin has always been good for any collapsing economy, mainly venezuela, and argentina, or devalued currencies, where simply buying the bitcoin you have a more secure value reserve and you can exchange for any fiat currency globally by paying a low rate and not having costs to save!

well, it's just that most people don't know the true benefits of bitcoin. I'm sure Bitcoin is able to be used as a tool to solve economic problems. well, with the right strategy, it can make many unemployed more productive, so that this can make a country's economy better.

[bummm]

Its clear that countries like Venezuela can greatly benefit from crypto.  Trusting government in those types of countries is out the window with their ridiculous money printing habits. 

I saw people from this country which carry their cash in large bags!! It happens because not they have too much - simply their national currency costs almost nothing. Bitcoin will help them greatly, sure.

[Victorycoin]

Its clear that countries like Venezuela can greatly benefit from crypto.  Trusting government in those types of countries is out the window with their ridiculous money printing habits. 

I saw people from this country which carry their cash in large bags!! It happens because not they have too much - simply their national currency costs almost nothing. Bitcoin will help them greatly, sure.

Bitcoin will help not only for Venezuela but also for other countries significantly who is support in bitcoin. All people will get the benefit of bitcoin who is investing on bitcoin.

[mornabo]

Its clear that countries like Venezuela can greatly benefit from crypto.  Trusting government in those types of countries is out the window with their ridiculous money printing habits. 

Not only Venezuela but also a lot of country who will be benefited for the crypto. And from bitcointalk indonesian, indian. philipines, bangladeshi and many more countries are getting a good income. So they are getting benefit by the crypto.

Economy can benefit if you stop government to stealing money. Open source means they will not be able to hide their mistakes, bribes, to make it simple they will not be able to deceive people, like they are doing now. Venezuela is in the big financial crisis, in Indonesia, India and other countries you mentioned there are many poor people who live on the edge of existence, it`s normal that in this countries people seek for faster changes.
And changes are coming for all of us, no matter where we live.

Agree, I think the economy of a country and their society is also influenced by who is in government, as hard as you work, if the government is controlled by criminals, of course its policy will never benefit to the community, a lot of corruption, the economy is destroyed, imports are weak, the rate currency is destroyed, then what you work in bitcoin will be useless, because your daily needs will be very expensive if you have a government control by amateur

[Valhalaa]

in a country where people are starting to know about crypto technology, they all flock to get the name bitcoin and get lots of money from there, developing countries are more easily gotten the attention of troubled countries because they can freely monopolize if someone has a lot of funds in it developed countries have now applied the payment but for troubled countries it will take a lot of time to examine crypto in general

[Mehr Sher]

It’s hard to say how helpful it will be for the future but it’s obviously simple to know that it’s hugely popular at present. If we just go by the Bitcoin History, it shows that it always has being unstable and that is one major reason why big players are still hesitant to join in it. If the stability comes in then we will absolutely move towards getting the much needed comfort and easiness. It is just impossible without it.

[leetcoiner]

I doubt that the cryptocurrency did not affect the economy in the country where it is being legalized.  Because I believe that the cryptocurrency will help but it will be very difficult and not familiar.

[Bezobraznike]

I doubt that the cryptocurrency did not affect the economy in the country where it is being legalized.  Because I believe that the cryptocurrency will help but it will be very difficult and not familiar.

   With legalized crypto currency people will raise their incomes and basically will have more money to spend.
In such terms the most of those extra money will be spent inside the country and raise it.
   Also taxation. If it managed right way it will also bring money to the government, which may be spender for making better of citizens' environment.

[Silberman]

It’s hard to say how helpful it will be for the future but it’s obviously simple to know that it’s hugely popular at present. If we just go by the Bitcoin History, it shows that it always has being unstable and that is one major reason why big players are still hesitant to join in it. If the stability comes in then we will absolutely move towards getting the much needed comfort and easiness. It is just impossible without it.

Bitcoin is still too small to benefit the economy of a whole country but what it can do and it is something that is already happening is that it can help people that were smart enough to see their governments turning their economy into a mess and they used bitcoin to protect themselves from losing it all, this scenario has becoming very common especially in countries where political and economic instability are the norm.

[galundan9]

I doubt that the cryptocurrency did not affect the economy in the country where it is being legalized.  Because I believe that the cryptocurrency will help but it will be very difficult and not familiar.

if in a country legalize cryptocurrency the government will certainly take part in making rules for crypto users themselves and thus the government will also take its share to pump the economy in the country by setting annual taxes for the holders of assets in cryptocurrency, of course, it very helps him.
Of course, you will be very familiar if cryptocurrency has been legalized in a country. Until now, I am sure that all circles of society already know a lot about the development of technology from cryptocurrency itself which is quite good in the future.

[bonker]

Is it will be perfectly good economic changing equipment for the future biggest Bitcoin has a lots of features involved in it so if the economy was also trusted it will be lots of changes will happen in this world to get the world economy more powerful by using with the help of Bitcoin.

[incomefromcoins]

The troubled economy countries such as Argentina and Venezuela are already experiencing hyperinflation bitcoin and other cryptocurrencies are highly used in those countries

[TheKeyLongThumbI]

Only those who can keep up with the latest tech or their citizens are literate enough to use the bitcoin. I believe that bitcoin is really the answer to make use of money straight to those who are in needs. I always watched many people donating charities with millions of money but it always puzzled that it is not making a huge difference. I found out that greedy people always take a lot of it before it goes to them so blockchain is really going to end this to make a helpless community or economy to stand again.

[omonuyak]

Only those who can keep up with the latest tech or their citizens are literate enough to use the bitcoin. I believe that bitcoin is really the answer to make use of money straight to those who are in needs. I always watched many people donating charities with millions of money but it always puzzled that it is not making a huge difference. I found out that greedy people always take a lot of it before it goes to them so blockchain is really going to end this to make a helpless community or economy to stand again.

Bitcoin is one of the discovery that is going to change how we do thing. I love the Way everything is going technological wise and having money or coins that is not control by certain groups of people is the best ways to create equality and effectiveness in our society.

[LUCKMCFLY]

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 is totally true, since in an unstable economy your local currency may suffer from constant devaluations and when compared with a strong currency, such as the dollar or the euro, you can feel that the domination over the economies is superior.

For countries with inflation rates above 10% it is usually alarming and solutions are being sought to fight, but countries such as Venezuela, where inflation is at an index of more than 3000%, economic disasters and internal economies are events that are not even the same. Economists can find a solution because it escapes any study they have taken, then people look for alternative economies where they completely get rid of the traditional economy, and join an economy where financial freedom is fully achievable and can determine enough value even to live of it.

Venezuela is the first country with more transactions for bitcoin, where more negotiations with bitcoin are generated, this shows that bitcoin is the real solution for countries without economic solutions, where they have to get out of all the laws of the traditional economy, this for many suggest that the traditional economy is not safe, that insurance is new and innovative, that is why both governments and banks with economists will never agree with bitcoin, because simply the control they have it escapes from his hands.

[roosbit]

Theoretically, It could be useful but the problem is people are exploited by inflated prices by their fellow countrymen who have some understanding of crypto, people have still not adjusted to better security practice which should protect their coins and there is a lot of other uncertainty surrounding cryptocurrencies!

Then crypto can easily be politized as countries  could be seen trying to avoid sanctions in an effort to improve the countries well being.

[Victorycoin]

I doubt that the cryptocurrency did not affect the economy in the country where it is being legalized.  Because I believe that the cryptocurrency will help but it will be very difficult and not familiar.

Cryptocurrency can play a vital role to change economyof any country. Many countries who accepted/approved cryptocurrency to their people are getting the benefit of the cryptocurrency. Those who has not approved those have not got any bless of crypto.