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Author Topic: is there any economic effect for the country or bitcoin users  (Read 1633 times)
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January 28, 2018, 02:53:53 AM
 #21

Depends on the level of the country's adoption. If it's on the level of japan, it has been incorporated enough to influence government policies and ultimately, their economy. Otherwise, doing crypto would just be beneficial only to the individual.

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January 28, 2018, 03:09:10 AM
 #22

now there are some countries that began to issue a ban on the use of bitcoin, is there any influence on the country and of course its users in economic value?

Before the ban issue, my people already skeptic about bitcoin since my government decide to forbid bitcoin usage.
Of course not all of my people are afraid but when they heard about ban issue, it affect my local exchange value quite much as panic sell usually happen

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January 28, 2018, 01:15:58 PM
 #23

Yes i think so, because it involves money and it involves business related activities, surely this will affect the economy and implementing ban on it by the government would only mean that something interesting is really happening affecting the community. As we have all known it is global and therefore could also globally impact the whole system of bitcoins. Should there be any change I think generally it will likewise affect the whole. I heard some had gone panic selling of bitcoins after having heard of bitcoins being or about to be banned in their country.

Yeah it is involve the money and that is revolve around the world that could really affect the economic status of a country.
If they are panic selling it's because they heard about the bubble, for my only opinion.
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January 28, 2018, 02:18:07 PM
 #24

now there are some countries that began to issue a ban on the use of bitcoin, is there any influence on the country and of course its users in economic value?
bans issued by some countries associated with bitcoin and crypto. does have a considerable impact. especially with the decline in bitcoin prices. maybe the economic system that moved in the field of crypto became a little shaky in this regard. but in a few weeks it will return to normal
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January 28, 2018, 04:53:32 PM
 #25

now there are some countries that began to issue a ban on the use of bitcoin, is there any influence on the country and of course its users in economic value?

Bitcoin is the perfect tool to improve the economical situation in the country, where it is used. Unfortunately governments of several states are afraid that BTC users will damage their system and avoid taxes. Countries where Bitcoin is used have the better level of life.

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January 28, 2018, 11:25:22 PM
 #26

now there are some countries that began to issue a ban on the use of bitcoin, is there any influence on the country and of course its users in economic value?
Yes, Bitcoin greatly affects the economies of its users, making them more financially secure, but not with some countries that consider Bitcoin as a threat to their economic stability, as evidenced by some countries that prohibit the use of Bitcoin. The difference is that we as individual Bitcoin users feel financially viable by Bitcoin but the country's view of the impact of Bitcoin is more universal.

Many governments are viewing Bitcoin and cryptocurrency in general with suspicious eyes practically because this is something they can't control fully and one that many don't actually understand. Some leaders when faced with this situation would just choose to ban the whole thing rather than go into trouble of dealing with it later. On the other hand, as shown by Japan, Bitcoin can be an instrument for economic viability.
Yes every nation should learn a lesson from Japan and legalize it instead of trying to ban it and struggling to do so. The fact is that bitcoin could not be banned unless Internet gets banned completely and its impossible.Some countries are even confused to decide about bitcoin whether it is an asset or currency or a commodity. But most of the countries find it as a threat to their taxing revenues.

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January 29, 2018, 02:35:12 AM
 #27

now there are some countries that began to issue a ban on the use of bitcoin, is there any influence on the country and of course its users in economic value?

Bitcoin greatly affects the user economy for better, bitcoin can also be used to invest or store their wealth without having to pay taxes. Therefore there are some countries that prohibit bitcoin.

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January 29, 2018, 03:14:50 AM
 #28

My country has banned bitcoin as payment method but we can keep them like stock it's not against the rules,  many people already selling their bitcoins to cash but it does not have a big impact on bitcoin prices because the bitcoin volume in our exchanger is small compared to the outside market, but the most dangerous it's a lot of countries together banning bitcoin, well it will definitely have a big impact on bitcoin prices, as we can see a few weeks ago and it was just an issue.
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January 29, 2018, 03:18:20 AM
 #29

Offcourse for some people the only way to earn is Bitcoins that's the only thing that they are dependent on and when their means of earning is cut off they become unemployed which reduces the net GDP of that country.
It's off course affecting people and the government in a negative way .
Yet the main reason of banning Bitcoins always is that it's unstable and the banks fears that they might loose money and the people too thus they decide to ban Bitcoins, but people can always choose some other way and always stand against the government
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January 29, 2018, 06:11:00 AM
 #30

yes i think there is a great effect on the economy of a country, just like dollar reserve, it has a major role for a country to gain stability and economic growth. if bitcoin is widely accepted by a certain country, it will definitely lessen poverty and the money reserves will circulate more due to exchange, microfinancing at its best. more people will have more buying power so trading will zoom up, more investors, more demand, more earning.

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January 30, 2018, 03:14:01 PM
 #31

now there are some countries that began to issue a ban on the use of bitcoin, is there any influence on the country and of course its users in economic value?
Yes, Bitcoin greatly affects the economies of its users, making them more financially secure, but not with some countries that consider Bitcoin as a threat to their economic stability, as evidenced by some countries that prohibit the use of Bitcoin. The difference is that we as individual Bitcoin users feel financially viable by Bitcoin but the country's view of the impact of Bitcoin is more universal.
Recently, the issue of banning bitcoin take a massive impact to the economy all over the world. Yep actually  it make most of us feel concerned a lot about the price of bitcoin and other coins. As far as we know that these day bitcoin or crypto currencies is getting more and more popular, which make many people pay attention on it. According the the new, through the ban of some countries from bitcoin, most of us loss a significant benefits. The ban is really affect to the bitcoin market, which makes bitcoin’s price fluctuate in disnormal way.

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January 30, 2018, 03:56:37 PM
 #32

It does not make sense to ban bitcoin in one country. People will find ways around if the value is high for having it.

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January 30, 2018, 04:13:46 PM
 #33

now there are some countries that began to issue a ban on the use of bitcoin, is there any influence on the country and of course its users in economic value?

Before the ban issue, my people already skeptic about bitcoin since my government decide to forbid bitcoin usage.
Of course not all of my people are afraid but when they heard about ban issue, it affect my local exchange value quite much as panic sell usually happen
Why will it create panic? In order to transfer the bitcoin to another exchange just press a few buttons on the computer. This is a problem of the exchange but for the whole bitcoin community is not a problem. It seems to me that the prohibition of bitcoin in one country will trigger a withdrawal of capital from the country. If you have the opportunity to obtain income then people will always look for the opportunity. For example, to accumulate coins on the exchange outside the jurisdiction of your country and wait for regime change. The more people the less chances to stay in power for another term.

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February 12, 2018, 05:54:44 AM
 #34

What do you mean? Is that the economic value or market value of bitcoin or not ? If yes, well it has a big effect on it. Since users or bitcoin users will serve as an instrument to promote bitcoin and to get or develop new investors to the success of bitcoin. And sometimes bitcoin users is the one who are investing on bitcoin. So if we think that in some countries bitcoin will ban, what happen to the market value of bitcoin?? In that case bitcoin will fall, because there are some bitcoin users that cannot access bitcoin because it is already banned in their countries so that only few investors will develop and it can caused to fall the market value of bitcoin.

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February 12, 2018, 07:29:23 AM
 #35

The impact is certain, and many countries may have a ban on ICO for fear that their money will flow elsewhere.

Many countries have already banned bitcoin and cryptocurrencies including ICOs. Every country has its own rules and regulation and it's up for them to impose such rules and regulation to cryptocurrencies. Since cryptos can boost one's economic growth, having it banned can cripple its momentum of progress.

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February 12, 2018, 08:54:44 AM
 #36

For me I don't see economic effect. Maybe the effect will only happen if the government will push thru what they want to take control Bitcoin.

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February 12, 2018, 09:24:29 AM
 #37

now there are some countries that began to issue a ban on the use of bitcoin, is there any influence on the country and of course its users in economic value?
Definitely there could be a negative effect on the economy if my country will issue a banned to cryptocurrency. As far as I know, people here are converting their coins into a fiat money to sustain their financial needs, so the money they earn from crypto will circulate to the local economy at certain level. If the government will cut that flow, it could lessen the flow of money in the local economy. 

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February 12, 2018, 01:23:43 PM
 #38

BTC has an impact on some countries' economies!

Those countries that prohibit BTC can prevent domestic funds from going abroad!

Such domestic funds can be used to develop the domestic economy!

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February 12, 2018, 03:39:08 PM
 #39

now there are some countries that began to issue a ban on the use of bitcoin, is there any influence on the country and of course its users in economic value?

Maybe the impact for the country is very small, but for bitcoin users who will be affected, they will lose the source of income from bitcoin.
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February 12, 2018, 03:51:38 PM
 #40

Considering, that bitcoin users are only a small part of the population, i dont think it will make a significant impact. Of course this is under the assumption that we're speaking of a regular country who has a fairly strong fiat currency. But i think, in the long long looong run, it could affect the country negatively. If they suppress the growth of bitcoin in their country, they could also be potentially hindering technological development. If blockchain is truly the future, then they'll leave their cyberspace infrastructures exposed. 

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