The impact of bitcoin on the financial stability of a country

[TonyChikago]

Bitcoin won't be Impact full on a countries economy until it isn't legalized in the economy. Only after bitcoin gets legalized and the country taxes its people for using Bitcoin until then Bitcoin won't have any impact on the economy and there are very small no of countries where bitcoin is legalized and is taxed.

I do not think that Bitcoin will be able to exert a strong influence on the country's economy even after legalization. Too small turnover of Bitcoin in the economy of a single country. For some countries, the foundation was and will be oil and gas. That's when oil and gas will be sold for Bitcoin, then the turnover will increase dramatically.

[Seeker#9]

It is still early to tell if there is such an impact of bitcoin in financial stability of a country. The government can always make a measure like imposing regulations on bitcoin and other cryptocurrencies to to ensure that the country's financial stability will not be affected. Many government fears that because of bitcoin's decentralized feature, they can't be able to monitor any funds that comes from unknown sources like money laundering and other illegal activities that uses bitcoin. This illegal activities might later affect the economy if it is remain unchecked.

[StonedWolf]

For now, not that many people know bitcoin. And not all those who know what it is, know how to use it. Only the minority of minority. That is why,these days, it can't have a great impact or affect a whole country. But once it is well know and its use become important, it will surely make a change in the financial state of a country. It can be for better or for worse.

Imagine that the people of country A are earning bitcoin from country B. That means that there is a flood of money entering A, but leaving B. Where will the money be spent? In country A. Therefore, It will cause a rise then in A financial state, and a decrease in B's.

[el kaka22]

For now, not that many people know bitcoin. And not all those who know what it is, know how to use it. Only the minority of minority. That is why,these days, it can't have a great impact or affect a whole country. But once it is well know and its use become important, it will surely make a change in the financial state of a country. It can be for better or for worse.

Other than only very less number of people are aware bitcoin payments, even people who are all aware bitcoins, not using it as a currency but simply storing for future benefits. That is another very important reason why bitcoin is not having any will impact into a country's economy. This reason may not change in very near future as people are preferring to hold bitcoin for decades.

Imagine that the people of country A are earning bitcoin from country B. That means that there is a flood of money entering A, but leaving B. Where will the money be spent? In country A. Therefore, It will cause a rise then in A financial state, and a decrease in B's.

It is already happening like every country must to have balanced the import and export levels so that they can have a stable financial state. When a country is importing all their needs, then their money will be flowing out which will not be good supporting factor for their stable economy.

[pendekar cinta]

With the existence of bitcoin is currently able to provide an opportunity for someone to make an investment If the government officially receives it so that people are able to take advantage of its existence in seeking profit for the financial system in a country goes well without there unemployment.

[1Referee]

I do not think that Bitcoin will be able to exert a strong influence on the country's economy even after legalization. Too small turnover of Bitcoin in the economy of a single country.

I wouldn't be so sure of that. Currently with how Bitcoin has been booming, and then mainly in Japan, the possibility of there being growth in Japan's GDP due to Bitcoin is almost a certainty. Estimation is that the growth could turn out to become close to 0.3%, but we have to wait for actual GDP reports to be sure of the exact growth percentage. Regardless of what that percentage will turn out to be, it's very impressive that Bitcoin itself can cause a major world economy to grow - that's something we as Bitcoin enthusiasts can all be satisfied about. With Lightning Network being there as an extra bit of incentive to make people spend their coins on goods, I have no doubt about it that Bitcoin will then push far beyond the 1% level in GDP growth. That's all concerning a major world economy - imagine what Bitcoin could do to smaller economies such as Venezuala.

[2Godbdglory]

THE IMPACT OF BITCOIN ON FINANCIAL STABILITY OF A COUNTRY: IT CAN AFFECT THE FINANCIAL STABILITY OF A COUNTRY BECAUSE THE BITCOIN SOURCE DID NOT PASS THROUGH GOVERNMENT AND NO TAX ON IT. IT IS ALL ABOUT TAX INVADER.

[onpages]

What is the impact of bitcoin in a country's financial stability?

actually a lot of impact resulting from this bitcoin. in terms of profit or loss.
as I know, btcoin will make citizens in a country have more income while working in this bitcoin world. besides that if used dlam process of buying and selling, we will get amenity in it.
but indeed the resulting loss also exists, one of which is the absence of regulations that provide taxes in bitcoin. and when we invest in bitcoins have a high risk so that if a failure will result in government work to further improve in the country's economic affairs.

[vidprab5]

I think if in my own country legalize bitcoin become a legitimate thing, it will have an huge impact for the economic progress of a country, one of them is to reduce unemployment for the reason because we can join the bounty project in according with existing rules on each bounty project which is can make some money for the participant especially.

I don’t think we are the ones to tell whether Bitcoin makes any impact to the financial stability of any country or not, that’s the work of the government to tell, cause we are not the ones that knows everything that happens. But I do believe that bitcoin will be making positive impacts and not the negative.

[Wallflower28]

When it comes in individual stability, bitcoin is a great source of income. A lot of people are hoping to make some earnings about bitcoin. In fact, bitcoin helps unemployed people to have job at home. Financial stability of a certain country will be based upon the citizens and if all citizen are earning money, they can contribute to the total income source and GNI of the economy.
Bitcoin helps individual person that result to the stability in financial of the whole economy.

[Gargo]

The impact of bitcoin on the finances of most countries seems to be very small. It improves the situation of individual people, who treat it as an investment rather than as a means of payment. There are too few businesses accepting bitcoins and payment points. Therefore, the impact on the economy and thus on the finances of countries is small.

[andrei56]

Bitcoin gives opportunity for income and investment which later helps people to make their lives even better, they were able to buy things that their salaries failed to reach and can make such a good savings for their future with this the economy also improves and the expenditure of people increases though by this time most government don't see the help of bitcoin but in the future this thing will really make a great impact

This is something some fail to see, when you receive your pay in fiat your money keeps losing value since the government does not stop printing money, so every day you can afford less and less with your money, but with bitcoin the opposite happens, the longer you hold the more you can afford, this is incredible, someone that saved a few thousands of dollars a year ago still has that same money while someone can buy a lot more than that if he used that money to buy bitcoin.

[intoy_victor]

It has a big impact of a country that are most need in financial stability. Specially to none government employee that they much need to earn more.

Bitcoin could improve the individual people in their life status. Because instead of working in international, they could earn money even at home. They have much time to their family instead of going abroad.

[Fappanu]

What is the impact of bitcoin in a country's financial stability?

The impact for me doesn't look really huge. I mean, BTC could help people who are short in income but not the entire community. The jobless are able to earn at home and their population lessens. The help of BTC is in the statistics of poverty, besides that, those who know how BTC works benefit the most.

[armandoz]

Becaome more stable not like before. and gradually meet every needs of invidual family and less curroption because of help of the bitcoin their dream become reality and have a positive prospective and have hope in the future of their family. living in better life.

[GoodLuck2]

What is the impact of bitcoin in a country's financial stability?

Every goverment has a regulation about crypto currency and i think economic or financial in country can be unstable if the people use bitcoin or crypto currency as payment gateway like transaction in the shop.
Why? Because bitcoin has fluctuation price very fast and it's will make inflation very high in a country. I think its very dangerous.

Bitcoin had improve the country finance by giving some dollars  to the unemployed people.Bitcoin was not directly impact on country financial stability.It will indirectly help the country financial stability.Many people are earning their second salary from this bitcoin.

Economy of a country is considered stable when the importation is less than exportation meaning more product coming out than product coming in, because we are spending much dolars will cause currency I mean fiat money to divaluate.when a country were people are having much Bitcoin income it also equivalent having many dollars coming in.

This is a fact and basic economics principles that if the country really wants to be stable, it should import less products especially the manufactured ones and should export as much products as possible usually end products because they are high in demand and price as well. But there are many other factors that contribute to the stability of the country like its employment rate, literacy rate and so on. As far as role of bitcoin is concerned, it enhances economy.

[andrei56]

It is still early to tell if there is such an impact of bitcoin in financial stability of a country. The government can always make a measure like imposing regulations on bitcoin and other cryptocurrencies to to ensure that the country's financial stability will not be affected. Many government fears that because of bitcoin's decentralized feature, they can't be able to monitor any funds that comes from unknown sources like money laundering and other illegal activities that uses bitcoin. This illegal activities might later affect the economy if it is remain unchecked.

While the laws and regulation put in place are important the aspect that is really important is the application of those laws. After all they can create as many laws as they want but since they are unable to regulate bitcoin users directly then most of those laws will be useless, this is why bitcoin is going to be so difficult to regulate also they do not really fear the crimes that can be committed with bitcoin they fear the freedom that is going to give to everyone.

[jinxing]

Bitcoin affects the fositip for the state's financial stability because people slowly change lives better. Many investors participated in assisting economic stability. Corporate internet companies can get to high profits and so forth. So I think bitcoin is good for financial stability in a country.

[armandoz]

Bitcoin really help the finacial stability of country without knowing by the help of bitcoin and many people having a business and investment they are silently helping the other some are putting cooperative program to the community to returned of the help of the bitcoin and help the country to decrease the poverty and sustain needs of the people by give them a stable job. and the return is really affordable base on their income up to recover their need by small percent of payment.

[traderethereum]

What is the impact of bitcoin in a country's financial stability?

I only know bitcoin will give a good impact for personal because if someone still continues his job-related in cryptocurrency, it means that he can have a source to make money with unlimited income that he can imagine. and if many people do this at the same time, then the people's income will increase and this will solve poverty problem which we can see in many countries. and if they can solve poverty problem, then they could have a better life and they will help other people to solve their finances problem too and this means the economy of the people will increase too and this will help the country to get a good financial stability because many people right now have a new income source.