The impact of bitcoin on the financial stability of a country

[Glorious04]

The country’s financial stability no. I dont think bitcoin Has an impact but for some indviduals yes. The country as a whole does not get profit from people’s holdings of bitcoin. Who benefit from it? The holders, and the exchanges or the channels.

[19faraon88]

In our Country, its not really accept the crypto currency but the government have approved few Bitcoin Wallet to cater its country men. Because of this, we contribute to the financial stability of our country, through buying goods, wants and needs, using what we earn in bitcoin. Of course, we exchange bitcoin to our own currency before we buy something. Also, bitcoin makes a remittance medium in our country.

[dynospytan]

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

Bitcoin did a big role in our country in terms of sending money from abroad. A lot of Filipino are now using bitcoin as an extra income even they are in other country. They help our country by increasing our dollar reserve by sending a money that came from bitcoin. Aside from that it is really hard to find a job here in the Philippines but thanks to bitcoin because even they didn't finish their studies they can now able to earn money by the use of bitcoin.

[01asd]

Bitcoin did a big role in our country in terms of sending money from abroad. A lot of Filipino are now using bitcoin as an extra income even they are in other country. They help our country by increasing our dollar reserve by sending a money that came from bitcoin. Aside from that it is really hard to find a job here in the Philippines but thanks to bitcoin because even they didn't finish their studies they can now able to earn money by the use of bitcoin.

I guess I can only give an opinion that a country that can see the opportunity and want to take advantage of Bitcoin will have a huge advantage. Especially with poor countries and small countries who are very expert and like to collect foreign currency. For them foreign currency is very valuable because the exchange rate is very high in exchange for local currency. I'm not sure if Bitcoin can make the country's finances stable or not. I'm also not sure if Bitcoin can affect the financial stability of a country. Clearly, Bitcoin has a big impact if properly managed by a country. Should a small country and a poor country be able to take advantage of this situation and this opportunity. Instead of banning and blocking Bitcoin.

[Ilegendph]

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

Right now bitcoin has almost no impact but countries are seeing that it may have an impact in the future if the technology is adopted by a significant amount of the population, so they are doing their best to try to protect themselves from those effects, but the good news for us is if that happens then any measure they try to impose to bitcoin is going to fail and that point the budget of governments could be compromised.

I dont think so, bitcoin has a great impact in a country's economy. In fact it makes monetary system of a country weak and unstable if the people of that country uses more of bitcoins rather than local because the volume of that money becomes huge that also affects other monetary sector of the government like local currency exchange.

[entrepmind23]

As what I observed in our country, there is no major effect yet of cryptocurrencies but it is a big help for the people who are earning and/or trading it. The wage in our country is minimal so people find extra jobs/business to supplement their income and earning cryptocurrency is one of them. For those who were able to get on cryptocurrency were able to buy some wants but needs to convert to cash since bitcoin cannot be use as mode of transaction so there is circulation of money which can help the businesses and as a whole help stabilize the flow of money in our country.

[irsada]

because bitcoin is not regulated by anyone I think  financial stability of a country's to bitcoin has no effect in my country.
if for the individual is definitely very influential.

[dongyi17]

The impact of bitcoin in terms of stability and growth of ones country is huge investing, transacting, payment, saving and earning in and out of the country brought specific amount to economy for instance our loved ones abroad send remittance to their family, and those who turn bitcoin into cash and by using digital currency..if only government would realize it but then they're not seem ready yet to embrace all of it they kind a studying it.

[guoyu78]

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.

Bitcoin can no doubt contribute in a very significant manner in order to improve the economic condition of any country. The only thing which needs to be done is the recognition of the bitcoin in a positive manner and above all taking such kind of positive steps which can promote the usage of bitcoin in any particular country. If the government take this bitcoin in a positive manner, then there are likely chances that bitcoin will improve the economic condition of that country.

[microwave]

So it is like an income price elasticity because the more people having an income the more purchases will happen. So what happen to that purchases? We all know that as long as we buy a particular product it has always a tax and that tax will go to the government to sustain the needs of our economy. So in conclusion bitcoin has a good impact to sustain a financial stability of a country.

[Ryan Tirta Permana]

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

I think nothing because I live in a country where bitcoin has not been accepted as a legal payment, so if you ask the bitcoin impact on the country's financial stability I can say no, maybe in a country that can pay with bitcoin and declared legal bitcoin as payment might have an impact because the competitiveness of interest from the user itself against bitcoin.

[tannerchum]

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

It gives big impact to our country. Just like for example, the people living will live a happy and comfortable life because they can do what they want in their life. Bitcoin brings happiness and financial stability of every people in the country. We consider that bitcoin gives work and can obtain knowledge and ideas about the reality goes on. If many people become rich for sure our country will be rich too. Because it add income to the economy.

[batang_bitcoin]

The impact of bitcoin to the financial stability of a country for now isn't clear as there are not that much adoption that's happening. But I'll give an example, if a country is fully supporting bitcoin and there's a regulation on the said country, financial stability of that country will become even stronger just like where they are getting taxes it's one of the best place for them to depend as an industry. And it will be even great if there are many whales who are living on that country and their balances are taxable.

[izzabel]

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

Impact of bitcoin  it can help other people  to gain more money save the unemploymed help the poor people as long s they are interested  into it

[traderethereum]

maybe, for now, there are no impact of bitcoin on the financial stability of a country because bitcoin is not yet accepted in many countries. but I only know that bitcoin give a big impact on every people which involve in bitcoin world and they can have the money from bitcoin. they can try to make money from the way of bitcoin and then he can try one or more way to start collecting the bitcoin.

[ronics]

   Bitcoin provides the opportunity to be a profits and investor someday to help people make their lives even better all can buy anything that has salaries field to reach and make an insight and properly savings for the future growth with economy and further improves and expenditure of people increase though one hour to government does not look at bitcoin help but in the future is its a thing that will really make a good impact for everyone.

[andrei56]

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.

The effects of bitcoin are still small since its size is not that big and the people still trust mostly in the economies of their countries, but in countries where the economy has collapsed bitcoin is flourishing this should give to us hope that when thing go wrong people will use bitcoin to avoid sinking with their own country the same way people have used gold for centuries to avoid that fate.

[musharaf]

The bitcoin is the digital money but it has a good impact over the financial stability of a country like if we look at the financial system the money create many differences in the country economy like the if the people hold the bitcoin or crypto they will use it some time and they pay and receive on this amount some income from which the governments will receive some taxes on consumer taxes and that's why we can say that this strengthen the financial system.

[mornabo]

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

It gives big impact to our country. Just like for example, the people living will live a happy and comfortable life because they can do what they want in their life. Bitcoin brings happiness and financial stability of every people in the country. We consider that bitcoin gives work and can obtain knowledge and ideas about the reality goes on. If many people become rich for sure our country will be rich too. Because it add income to the economy.

but the reality is just only few bitcoin users that exist in a countries, I know you've got better financial and economic change because of the effects of bitcoin but that does not mean only 1 individual can change the economy of a country right ? while 1 country has tens of millions of people? I think bitcoin will have an effect for economy a country when there are million people like you in your country, of course your country's economy will get better

[el kaka22]

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

Bitcoin did a big role in our country in terms of sending money from abroad. A lot of Filipino are now using bitcoin as an extra income even they are in other country. They help our country by increasing our dollar reserve by sending a money that came from bitcoin. Aside from that it is really hard to find a job here in the Philippines but thanks to bitcoin because even they didn't finish their studies they can now able to earn money by the use of bitcoin.

Sending money from abroad does not really have anything to do with financial stability anyway, it is just one of the great advantages of bitcoin and the idea of cryptocurrency which makes us not to have any border barrier in spending or making transactions, considering what has been imposed by the government usually.

However, regarding financial stability, that depends on the government and a government that is not able to financially stabilize normally as a result of corruption or bad dealings, I see no way bitcoin can change that.