Bitcoin can be useful for a troubled economy

[Cootie]

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 think it is hard. There are very limited ways to earn bitcoin. And saying that money is not sufficiently provided, it would be a third world country, wherein people will not be exposed to such technologies. They may get shocked on this new way of earning. And it can't be inplemented right away since they need to be trained. And access to bitcoin and other cryptocurrency maybe a problem since the country may also lacking technologies like internet. So it not easily applicable.

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[Vaskiy]

Unlike the country and its level of economic situation bitcoin is truly helpful for a troubled economy. One news recently came out of Iran stating the usage of bitcoin. They were not in a situation to carry their currency, by the time bitcoin is the savior for them. There is no restrictions for usage, but for security reasons they keep using vpns. Growth of the common man's economy is the growth of the country. This way bitcoin is truly useful for troubled economy.

[bettercrypto]

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

We can use cryptocurrencies during out break. In fact, I am thinking that this might help us to keep our valuable, when there is an inflation. If the economy is in the recession stage, we invest in cryptocurrency so that the value of our fiat may preserve. Bitcoin is really useful in a troubled economy, specially for an individual like us.

[syamster]

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

We can use cryptocurrencies during out break. In fact, I am thinking that this might help us to keep our valuable, when there is an inflation. If the economy is in the recession stage, we invest in cryptocurrency so that the value of our fiat may preserve. Bitcoin is really useful in a troubled economy, specially for an individual like us.

Yeah we can use bitcoin for getting money and earning more in our free time as well,  because it never disturb out job so we can use it in free time to make extra money and save our economy. When in my country there were so many people unemployed but now they are having good income with bitcointalk.org, working online has given them good job.

[Zemomtum]

You are absolutely right, with the rate of hyper inflation in Venuziella and Zimbabwe, most citizen are embracing the adoption of digital currency to survive. RSR token are creating an ecosystem to help people in the troubled countries.

[reality18]

Bitcoin has changed lots of lives and at large has impacted the economies of countries which have accepted or are neutral about its activities. In such countries, the people are exposed to financial freedom as the gain control over their transactions. The people get job opportunities like crypto mining, project development, bounty hunting, etc.

[poldanmig]

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.

that's right what you said because if we use bitcoin right then that bitcoin can be useful to help with problems in our economy. the problem is that there are so many people who are helped by bitcoin in economic and financial terms if using it right

[yslyv]

yes i agree partially. but the issue is it is still not enough proper for fast payment. bitcoin network size, transaction speed and fees are still too high to be able to use it effectively. we will se what future will bring.

[Snaic]

yes i agree partially. but the issue is it is still not enough proper for fast payment. bitcoin network size, transaction speed and fees are still too high to be able to use it effectively. we will se what future will bring.

It seems to me that you first need to overcome the confrontation between those 2 sides who adore Bitcoin.  To someone really wants Bitcoin to be used as a means of payment, but it will not be possible to achieve this, as long as you are investors who invest in Bitcoin wants to get super-profit.  Bitcoin's volatility attracts large investments, not its possible practical applications.

[Victorycoin]

giving much people opportunity about new job that dont need uniform , help for "non education " people to get their job tho

Bitcoin can make wealthy to you and to your country and also you may earn bitcoin by mining but you cant get a job by bitcoin directly, though there is a huge chance to earn bitcoin in various ways.

[Snaic]

What to do to the government, the country of which will switch to Bitcoin, and at this time the cryptocurrency market will again fall following the 2018 example.  You understand that the state budget impoverishes completely and all state structures and social programs will cease to function, since there will be no financing.  No one will spend Bitcoin, which should cost for example $ 20,000, and it will fall to $ 2,000. For example, you can take the state budget of the United States of America for 2017.  If the budget was 19, 5 billion dollars, it is practically 975,000 Bitcoin, at a price of 20,000 dollars.  But when the cryptocurrency market falls, and the price of Bitcoin will be $ 2,000, the country's budget will decrease by $ 1.9 billion.  In order for Bitcoin to participate in the country's economy, Bitcoin must be stable.

[leavolnhals]

that really happened and the typical example was Venezuela. BTC is really a great asset to help your fiat value not lose its value over time.
According to the report, each year Bitcoin often increases from 100% - 300% from the period 2012 - 2017.
In 2018, there was an incident because the whole world economy collapsed, not just for BTC.
but now its value has been restored to a high level of $ 11k.
No need to wait for Goldman Sachs experts to speak up, we can also see that.

[galestorm]

I think it is possiblefor bitcoin to be used as an alternative to fiat money. Since that kind of currwncy stretches across the globe. But i dont think government officials would make it that easy to fully adopt bitcoin as their secondary source of income. It is risky and somewhat more on the unstable side as it always flactuates in price. I have read an article, containing the information that Venezuela’s President Nicolas Maduro announced last month that the country would create its own token to help its economy. Yet officials in the country, including the opposition-led national legislature, have strongly pushed back against the idea.

[jak3]

This is exactly what many of us in the community thought when Bitcoin was new, but today we actually found that that is not the case. It's true that Bitcoin can help countries which need money but does the country need something new on their system. As with the case of China and India, we have seen these countries have banned Bitcoin(India's preparing for the ban). Let me take the example of India, India is a country with a massive population so it needs food and money to feed all the tummies and keep everyone alive. But on top of it, India is preparing to ban cryptocurrencies from it. I know India is not a stupid country but they are not ready yet, their government is not ready yet. I have seen a lot of countries who accepted Bitcoin and their recovering their losses and India can do that too but it's just they are not ready yet left do not take it as bad.

[Ranly123]

This is exactly what many of us in the community thought when Bitcoin was new, but today we actually found that that is not the case. It's true that Bitcoin can help countries which need money but does the country need something new on their system. As with the case of China and India, we have seen these countries have banned Bitcoin(India's preparing for the ban). Let me take the example of India, India is a country with a massive population so it needs food and money to feed all the tummies and keep everyone alive. But on top of it, India is preparing to ban cryptocurrencies from it. I know India is not a stupid country but they are not ready yet, their government is not ready yet. I have seen a lot of countries who accepted Bitcoin and their recovering their losses and India can do that too but it's just they are not ready yet left do not take it as bad.

That is indeed through the acceptance of the government to use cryptocurrency for their constitutes. Though we see a bright future for Bitcoin but for our authority to plan on banning it seems like they found something that an ordinary person does not understand.

[veleten]

bitcoin can be a double edged sword for  a troubled economy
when the economy is in trouble it usually means that the country is run by the  not so very  competent people
this could be their predecessors at helm or them, it doesn't matter
what matters is that they would not want an extra trouble dealing with something that cannot be controlled directly
bitcoin and cryptocurrencies are decentralized and cannot be just stopped like you can stop printing money , for example
so for a troubled economy an asset you do not have control over could turn to be very dangerous
if you want an example, try Venezuela and its hybrid Petro
did it solve any problems ? apparently not , to my knowledge
in the modern world  it all depends on who and how are making decisions: you can have cola bottlecups as a currency and be a successful economy (not really /sarcasm )

[princesspoppy]

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

True. Cryptos gives new opportunity to those people who can't survive with their work alone, especially the ones who needs investment, although we all know that cryptos especially bitcoin is too risky and volatile to be an investment, yet its volatility gives more chances to make good amount of profit from it. Also bitcoin gives opportunity to some people to earn little amount from it by joining campaigns. Economy with more people having work and earning money can help in country's recovery.

[ololajulo]

bitcoin has a lot of similarity with Gold that make it recommendable for storage of asset and value during economic crises; such factors as durability, fungibility and scarcity. However, its digital nature give it some advantages to Gold; its easy storage without third party, easy and better security, liquidity on the internet, potability and divisibility.

[Wolfwar]

bitcoin has a lot of similarity with Gold that make it recommendable for storage of asset and value during economic crises; such factors as durability, fungibility and scarcity. However, its digital nature give it some advantages to Gold; its easy storage without third party, easy and better security, liquidity on the internet, potability and divisibility.

Stop comparing Bitcoin with gold.  These are two different things that are It seems only that they have a limited number.  This Today, you may consider yourself a rich person, but tomorrow you will want to have real value in your hands, and not own a certain amount of air.  I made the analogy.

[pragna]

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 don't think so that bitcoin can be useful for a troubled economy. There is no legalization by world economy about BTC so that if any county use it, it can not be counted there and they can not get help also from big donners and investors. Because they can not guess the actual economic condition of that country. So i think it may some time benefited but in long term it may be great problem.