The impact of bitcoin on the financial stability of a country

[just_Alice]

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

There will be no principal impact of cryptocurrencies on country, until they're legalized. Not so many people inside the country purchase and sell bitcoins and even though they do, there are negligibly few countries, where BTC is taxed, which makes it somehow participating in country economics.

[raven7886]

for countries that prohibit bitcoin, then transactions must be outside the country, of course it resulted in no tax revenue. We know the tax is one of the largest state income

I don’t believe that bitcoin can make much impact to the financial stability of any country, even if it does, I don’t think it will cross 5% and when governments talk about banning bitcoin, there are reasons behind that. But things may change in near future until then we need to focus on saving bitcoins because it will have big impact on our wealth for sure.

Actually I don't know the impact. As long as I can buy foods, clothes or anything that I need its fine for me.

Lol, seems like I just came across someone that lives life just like me lol. I don’t even care about all these economy blablabla…. When I’ve got things that I need, they don’t make sense to me, so no need to bother.

[Minnie1928]

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

There will be no principal impact of cryptocurrencies on a country until they're legalized. Not so many people inside the country purchase and sell bitcoins and even though they do, there are negligibly few countries, where BTC is taxed, which makes it somehow participating in country economics.

Bitcoin alone isn't the determinable factor for the instability of the specific country. Many countries are fearing that in a long-term Bitcoin will shake the financial stability and suppress the FIAT backward. Right now the countries are only in gain with the people using the Bitcoin because the payment methods are still presented in the FIAT and any Bitcoin income must be reported to the authorities and that can be only a plus for the financial state of the country.

To the most people Bitcoin is still a hobby and they have a proper job which is paid in FIAT( taxable). Bitcoin is additional income ( must be reported and taxable) which can be only profitable for a certain country.

[Dragon5]

I doubt it has any inpact on economy of a country, only in banking, as I understand the system. Transaction and service fees in this sphere are considerable, and banks would lose much profit. However, systems are flexible, somethings become useless, others appear.

[Rossy Akbar]

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.

[paul00]

Based on my experience so far, I can say that bitcoin has favored in the financial stability of each individual users. On its aggregate impact on countrys financial stability, I am not actually sure if it has a huge effect since there is not actual statistics which claims such thing. However if we would base the assumption on how other countries legalizing it, then I think it certainly has a good impact on the financial stability of the country.

[Pab]

There was a lot news that bitcoin can have negative impact on economys financial stability
In all that voices i most i most like that what Mario Draghi told,bitcoin has no impact on EU economy
Dear economist maybe first look and something with your economys ,banks,corporations,hiding taxes and corruption than lets talk about crypto or look how crypto may improve economys

[Bezobraznike]

There was a lot news that bitcoin can have negative impact on economys financial stability
In all that voices i most i most like that what Mario Draghi told,bitcoin has no impact on EU economy
Dear economist maybe first look and something with your economys ,banks,corporations,hiding taxes and corruption than lets talk about crypto or look how crypto may improve economys

   That are just rumors that governments spread to protect their
asset. They do not have way to tax Bitcoins, they do not have
ways to earn from Bitcoins and they spread lies about it.
   I think that BlockChain is transparent and that is not suitable for
people who are in power, they will not be able to hide their suspicious
activities.
   Pab you are right when you say that they should sit on the table and
talk how crypto-currencies can improve economy, than to talk how to
ban it.

[eyebags1994]

Bitcoin gives a very big impact on the financial stability of a country. Because a lot of people making big money from bitcoin gaining big salary from bitcoin and when they get that big amount of money they can invest it the country money . at the same time

[dunfida]

There was a lot news that bitcoin can have negative impact on economys financial stability
In all that voices i most i most like that what Mario Draghi told,bitcoin has no impact on EU economy
Dear economist maybe first look and something with your economys ,banks,corporations,hiding taxes and corruption than lets talk about crypto or look how crypto may improve economys

   That are just rumors that governments spread to protect their
asset. They do not have way to tax Bitcoins, they do not have
ways to earn from Bitcoins and they spread lies about it.
   I think that BlockChain is transparent and that is not suitable for
people who are in power, they will not be able to hide their suspicious
activities.
   Pab you are right when you say that they should sit on the table and
talk how crypto-currencies can improve economy, than to talk how to
ban it.

They cant really hide anything since address can really be seen on how much money is being store and activities can really possibly be seen. Even myself can really see that bitcoin can give impact on ones economy once its being decided to be adopted but on most cases or normal reactions on neglecting those proposals will surely be on the opposite site which isnt really surprising though.

[blue_nexus15]

Bitcoin offers great investment opportunities for investors who love new ventures and investments. But I firmly believe that governments will not like the presence of bitcoin because of the anonymity of its transaction that makes it impossible for the government to control and capture the value of investors' assets. This is losing a tax to the government and certainly the Treasury Department will be unhappy about that.

[Karavadinos]

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

Bitcoin can help a lot of people that they have no job to actually earn some money from it, with just a simple access to the internet and basic knowledge about what bitcoin is, people can really make a good money out of it to cover a living, this helps the economy and the financial stability especially with the third world countries where unemployment is really high.

[btcluisdiki]

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

Bitcoin can help a lot of people that they have no job to actually earn some money from it, with just a simple access to the internet and basic knowledge about what bitcoin is, people can really make a good money out of it to cover a living, this helps the economy and the financial stability especially with the third world countries where unemployment is really high.

I think bitcoin does not pose any threat  to financial stability of a country and is improbable to unsettle maintstream markets in the suceeding couple of years. While the majority of economists thought there were restricted risks to financial stability wherein governments should bring in bigger controls for cryptocurrencies as their anonymity and opacity could help change tax evasion and other criminal actions.

[zhea]

Since bitcoin does a big impact on people who are engage with this crypto currency it also does to the stability of the country. Bitcoin also give people an opportunity to earn and invest, and from their earning they can buy their basic commodities so the tax from the goods that they buy will go to the government for some projects for the development of a certain place. We can say that bitcoin help the financial stability both to the user and to the government as well.

[player514]

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

Bitcoin offers a new means to pay for things in countries. However, it's decentralized nature could actually help in the sense that it allows people to use the same type of currency across multiple areas because it's supported practically somewhere everywhere, and in turn this might deem the country more technologically adept.

However, the more people turn towards BTC, the less the government's may be getting in taxes due to the tax-free current nature of BTC. This could lead to pretty big problems and might even end up being resolved by adding taxes onto crypto transactions in the future.

[yohaneshs]

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.

[bitcad4u]

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.

[Sasuke102001]

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.

[Polipog]

It is sad to say that even today there is no statistic analysis by government about financial contribution of bitcoin in such different countries , but knowing about bitcoin, it has a large impact of economic contribution in different places, particularly to those people who really active by joining different activities of bitcoin business. The impact of bitcoin on the financial stability on a certain country is indirect situation, because it is only on the user control system and with the power of bitcoin management. The country don't have the rights to collect direct contribution from bitcoin, it is only on the people can contribute which the money earn from bitcoin by using different transactions to different establishments to buy goods and products on which the transaction have taxes distributed to goverment.

[Tapyaks72]

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.