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Adriano2010
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June 08, 2019, 08:48:01 PM |
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Bitcoin maybe can help for short term but they will need a plan to make economy working, because even if bitcoin will help, bitcoin has limited supply and a country economy not should count only on bitcoin to make economy works.
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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Victorycoin
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June 09, 2019, 10:19:25 AM |
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And what countries with the problem of the economy are you talking about. If for example these are African countries, then there is not everywhere an Internet to use cryptocurrencies.
Bitcoin can be useful not only for the people who are poor but also for them who is wealthy so I do not think this is for any specific country, I mean it can be useful for any parts of the globe. |
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sunny28
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June 09, 2019, 11:01:32 AM |
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And what countries with the problem of the economy are you talking about. If for example these are African countries, then there is not everywhere an Internet to use cryptocurrencies.
Bitcoin can be useful not only for the people who are poor but also for them who is wealthy so I do not think this is for any specific country, I mean it can be useful for any parts of the globe. Bitcoin is really useful thing, but I do not think that it is able to put the country out the pit. Bitcoin can help the country to survive, but not to build strong economics. |
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Warranteum
Copper Member
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June 09, 2019, 12:20:09 PM |
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Good point. But It's hard for any country to switch to bitcoin completely.
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freedomgo
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June 10, 2019, 02:57:00 AM |
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Good point. But It's hard for any country to switch to bitcoin completely.
They don't need to completely, switch, but they can buy bitcoin to hedge the inflation rate. With their money in bitcoin, that would be safer compared to their fiat money, and that will make bitcoin a store of value as people believe on it. Bitcoin will not be the main currency, for now it's just an alternative, and remember it's not yet scalable, so that would be a big hindrance for now. |
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Victorycoin
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June 14, 2019, 06:50:38 PM |
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Good point. But It's hard for any country to switch to bitcoin completely.
It is not only hard but also quiet impossible to switch to bitcoin completely, bitcoin can be a part of investment and it cant be full investment by a country. |
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Wellyan
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June 14, 2019, 10:54:28 PM |
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And what countries with the problem of the economy are you talking about. If for example these are African countries, then there is not everywhere an Internet to use cryptocurrencies.
it is very appropriate that you convey crypto currencies created using technological developments so only developing countries can use crypto currencies and the problems that occur can certainly overcome the problems that will arise |
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toast
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June 14, 2019, 11:22:47 PM |
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Good point. But It's hard for any country to switch to bitcoin completely.
It is not only hard but also quiet impossible to switch to bitcoin completely, bitcoin can be a part of investment and it cant be full investment by a country. as you say, indeed turning our currency into a bitcoin currency is indeed more difficult. because the development of bitcoin cannot be fully guaranteed, and of course the risk is always there. so making bitcoin as a currency and being used by society is more difficult. |
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bitzizzix
Sr. Member
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Activity: 2366
Merit: 448
Play Bitcoin PVP Prediction Game
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June 15, 2019, 02:58:18 AM |
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And what countries with the problem of the economy are you talking about. If for example these are African countries, then there is not everywhere an Internet to use cryptocurrencies.
Most of those who live in underdeveloped countries will experience limitations in everything, especially in technology, because being able to use cryptocurrency requires supporting devices and internet networks to operate them. and internal networks are very functional in all aspects of knowledge that can help their economy and not only to access cryptocurrency. so limitations greatly affect economic progress and are very fortunate for those who can use cryptocurrency. |
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BennyK
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June 15, 2019, 03:19:18 AM |
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Of course, Bitcoin and the entire crypto space has the intrinsic capabilities to boost the economy of a country. This can be achieved through the benefits and advantages Bitcoin and cryptocurrency offers the people within a country were the activities of cryptocurrency are made legal. Cryptocurrency offers job opportunities like mining, project development, crypto merchants, exchange development, bounty hunting etc to the people. With this the economic status of the country can be raised to a certain degree.
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Caladonian
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June 15, 2019, 03:25:25 AM |
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And what countries with the problem of the economy are you talking about. If for example these are African countries, then there is not everywhere an Internet to use cryptocurrencies.
Most of those who live in underdeveloped countries will experience limitations in everything, especially in technology, because being able to use cryptocurrency requires supporting devices and internet networks to operate them. and internal networks are very functional in all aspects of knowledge that can help their economy and not only to access cryptocurrency. so limitations greatly affect economic progress and are very fortunate for those who can use cryptocurrency. Indeed, those underdeveloped countries will not see the potential of this cryptocurrency as they have limited knowledge about internet and needs to learned deeper before they can appreciate the usage of this currency, lucky for those who able to use and facilitate this system as they have already enjoying the benefits of an easy payment system beyond borders. |
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Janation
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June 15, 2019, 03:48:08 AM |
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Good point. But It's hard for any country to switch to bitcoin completely.
They will not be doing that. Also, Bitcoin will not help any troubled economy at all since if that is the case, a lot of countries will be accepting it so quickly, why would countries ban a cryptocurrency that can help their troubled economy, right? It might be able to help people that are investing in it but I don't think it would be of a major help that it can change a country's economy. |
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satriagedhe
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June 15, 2019, 02:53:30 PM |
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giving much people opportunity about new job that dont need uniform , help for "non education " people to get their job tho
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Carreuh
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June 15, 2019, 04:40:19 PM |
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If bitcoin is considered a place of investment and a tool for trading, this will be very helpful for people who have problems with their economy because with this we can get quite a large amount of results too, but if bitcoin is used as a currency or a medium of exchange then we will not Get anything from this bitcoin, you can only make transactions
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rosebrand
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June 15, 2019, 05:59:17 PM |
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it does not have a direct effect on the jurisdictional order, it only helps a small number of people who understand the crypto development. the potential risks faced are even greater because not everyone has enough basic, but at least bitcoin is an alternative support at the starting point of economic rescue.
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BigBos
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June 16, 2019, 04:02:50 AM |
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If bitcoin is considered a place of investment and a tool for trading, this will be very helpful for people who have problems with their economy because with this we can get quite a large amount of results too, but if bitcoin is used as a currency or a medium of exchange then we will not Get anything from this bitcoin, you can only make transactions
yes, it all depends on how it is used. bitcoin has the potential to help the economy, but it also has the opposite potential. depending on how you use it, because when bitcoin is used for the wrong path, of course it can make the economy more damaged. but, most of what I see, the right use of bitcoin will make people improve the economy they have. |
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MidnightWolf
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June 16, 2019, 02:37:06 PM |
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The fact is that users of cryptocurrency as well as companies and organizations that are engaged in cryptocurrency business have very little information about cryptocurrency and its benefits for the state. 2016 was a year of popularization of cryptocurrency in society, where it was said only about the benefits of cryptocurrency for a particular person and his great opportunities to make a good profit. Government officials today spread the information that cryptocurrency is a threat to national security, and therefore it is necessary to disseminate information that refuted the information of officials.
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hahay
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Leading Crypto Sports Betting & Casino Platform
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June 16, 2019, 03:10:34 PM |
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If bitcoin is considered a place of investment and a tool for trading, this will be very helpful for people who have problems with their economy because with this we can get quite a large amount of results too, but if bitcoin is used as a currency or a medium of exchange then we will not Get anything from this bitcoin, you can only make transactions
yes, it all depends on how it is used. bitcoin has the potential to help the economy, but it also has the opposite potential. depending on how you use it, because when bitcoin is used for the wrong path, of course it can make the economy more damaged. but, most of what I see, the right use of bitcoin will make people improve the economy they have. So long as we can use bitcoin well which means that when bitcoin is a valuable asset, it will still have good value and will benefit the economy even for each individual. Besides, so far I think bitcoin has helped restore the economy of every individual who has consistently used bitcoin with. |
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freedomgo
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June 17, 2019, 04:49:54 AM |
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it does not have a direct effect on the jurisdictional order, it only helps a small number of people who understand the crypto development. the potential risks faced are even greater because not everyone has enough basic, but at least bitcoin is an alternative support at the starting point of economic rescue.
If that's what you believe, then people has to learn how to use bitcoin, there is no risk if they fully understand and learning what is bitcoin is not hard. As long as you have the internet and you have the time to study, you'll understand it, and trading even not hard, just buy and hold to protect the value of your money against inflation. |
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erikoy
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June 17, 2019, 09:27:23 AM |
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I do not think that Bitcoin could really help in a troubled economy but I do believe that bitcoin can be a tool for a troubled economy to gain more transparency and efficiency especially in the field of money transactions where P2P was being encourage as a bitcoin users. This will be easier for the bitcoin users to transact using bitcoin rather than having the old system having a lots of papers to be sign and file. Bitcoin is different because it uses blockchain and does not need any files to prove that transaction was being successfully done or not and it also could be accessibly seen in public.
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