The impact of bitcoin on the financial stability of a country

[Singbatak]

The Bitcoin is gaining significant importance throughout the world. It is now leading cryptocurrency as the years best-performing currency. But it has a crime called Money Laundering through the online black market Silk Road. So they're giving attention focused on bitcoin’s underlying payment system than on the value of the currency itself.

[piterpie]

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

For example, my country does not have a stable economy, so it prohibits Bitcoin from operating on a virtual currency basis. There are a lot of places that have had to deal with the crises in Bitcoin, in my own country. Many wrong rumors about Bitcoin but nowhere ruined by it

[Agaton]

We cannot determine the impact of bitcoin on the field of financial stability in a country it is because bitcoin is not directly connected to the economic system in every country. Bitcoin is directly connected only to the people who accessed and used bitcoin and that people who earn multiple income are main source which their income can also contribute to the economic development of a country. As what i have stated above that bitcoin is not directly connected to economic system, it is because bitcoin is not under control by government, but still bitcoin contribute financial stability in a country.

[balakang00]

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

The impact of bitcoin is great for those who have the financial intelligence and money to invest in bitcoin. But in general, it does not really affect the financial stability of a country. It is still depends upon the government and the people on how they will earn money.

[dragoz11]

If the country is a btc adopter than people would invest in btc and will transfer their money to that country by making the income of that country rise and the money be more and if the country is against it vice versa.

[yesuidanggan]

BTC and other digital cryptographic currencies have created new investment markets and profit models.

Some criminals will use BTC money laundering and black money trading.

This is the main reason why many governments regulate BTC.

Influence the monetary policy of the country.

[jonaire99]

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

We only feel the real impact of bitcoin on economy if the government allow the full use of bitcoin into the mainstream. Legalized it fully and use it as one of the legal tender to reaps the benefits of bitcoin. On the dark side, bitcoin can also use illegally by some bad people like money laundering and it can affect a country's financial system.

[Vaskiy]

After the first quarter of the ongoing year we can get the real contribution of bitcoin in a country's financial stability. Because over an year ago Japan adopted bitcoin and the same has made them grow high in different industrial markets. With the calculations of the economic growth before adoption of bitcoin and after adoption will give the perfect result of growth because of bitcoin.

[omonuyak]

Bitcoin has making a very high significant progress in contribute to some countries economic development and we have had how Japanese governments has a great gdp growth in 2017 https://news.bitcoin.com/japans-gdp-grows-due-to-bitcoin-wealth-effect/ this is a sign that bitcoin can actually help our economic and provide jobs including solving some of the financial challenges we are having.

[Tyrantt]

Well probably close to none but imagine a smaller country where the bitcoin isn't regulated and people can avoid taxes with ease. Now let's imagine that country having 10 million people and 30% of them are using bitcoin. That's taxes of 3 million people not being payed and over time that amount piles up to quite a significant amount.

Hypothetically, that's the only way, in my opinion, that bitcoin can have an impact on financial stability of a country. Tho, I might be wrong.

[Sled]

There is no such big thing like affecting the financial stability of a country by bitcoin because i don't think that there are countries that have a majority or experiencing some bitcoin domination in their country because that is not possible and i can tell that based on my country that even there are a lot of bitcoin users here, there is no impact or effect of bitcoin in our financial stability.

[cccarnation]

Still bitcoin does no harm to financial stability cause still btc mostly is being converted to fiat money. Sooner or later this practice will come to the end and bitcoin will be used to buy and sell things and fiat money will be less and less used and this might be a threat to financial system

[serjent05]

I do not think that bitcoin wil have an effect to the financial stability of a country.  First all the transaction does not go under the regulation of the government.  Second, government (in my country) does not implement tax on the Bitcoin trades so there is no profit in every transaction created with Bitcoin.  All the effect were individual but these individual never pay tax for the cryptocurrency payment that is why I do not think that Bitcoin will have an effect on the financial stability of a country as of now.

[jose111]

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.

Bitcoin has a very big impact on the financial stability in one country. In every country their always monitoring their financial stability because this is the one of the very important aspects in government. It handles the many different global financial and economic crisis where in it affects the importation and exportation in one country to another. One country need a stable financial to reach what their community needs. It also effect the employment status of people. Like in other country there is a large number of unemployed citizen therefore it cause a lack of financial status of one's individuals. This will be make the biggest effect in community. As of now I personally recognized that bitcoin is the answer to the poor financial status of the community. In this way that people can earn much better and higher profit in a short period of time and because of it the unemployed status are solve. One country had a stable financial can make better things to their community and I think bitcoin is the answer for this.   

[heraldlazaro25]

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

The effect of bitcoin in a country's financial stability is very good because it helps the economy to grow more and develop for it to dont experience financial problems. Bitcoin also helps to those people who use and earn it because it gives them the capability to earn their own money.

[Wonder_woman]

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

I think bitcoin can cause negative effect to a country`s financial stability. Yes, maybe it can help many individual sustain their financial needs, but what if all the transactions of people who use bitcoin specially rich people and companies be done in blockchains? As we know some crypto wallet now can do transactions same as banks and we know that bank is a big factor when it comes to financial matter on a country. Bitcoin wallet now can store money and pay bills which banks are doing. So the profit of the bank may decrease and can cause negative effect to the country.

[upsidedown75]

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

The impact of bitcoin is great for those who have the financial intelligence and money to invest in bitcoin. But in general, it does not really affect the financial stability of a country. It is still depends upon the government and the people on how they will earn money.

No, this will make an immense impact on economics of the country. Who tell you that it is useless until someone have business intelligence? People are laymen, only few would be having these technical skills right now, but see how amazingly bitcoins are spreading all over the world. People are trusting them for their existence. And this will ultimately effect the economic power.

[Rubble898zaitO]

I don't know much about Economics but what I can based my observations on a the lives of some people I know who are using Bitcoin. Basically, they have more financial freedom than the others, they can buy more things, properties, services and products hence that will have a positive contribution to the country's economy.

[farhaan]

Bitcoin has helped people of countries suffering from economic crisis like Nigeria,Venezuela which indirectly helped those countries financial condition to improve.

[mariah.sadio]

My opinion is that bitcoin still has no impact to the dinancial stability of a country because only few people from the community uses and transact with it. But if ever there will be that time when large population from a commumity or from a country are bitcoin users then there will be a big impact in make the financial economy of the country be stable. This is not impossible because comparing the number of users from the starter days of bitcoin until now, the percentage of the people who are already into bitcoin is getting larger or bigger day by day. I think, the impact of bitcoin to the financial stability of the country is based on how many transactions users do every day. By this, the value of bitcoin and its utilization increases because it will be in demand on the marlket and that will only be possible if a country have a larger population to engage with bitcoin.

I am one of the active users of bitcoin whom are sharing the knowledge of it to others so that I can help people and the community grow and earn profits from using bitcoin and also to support bitcoin so that earnings will not end.