Will bitcoin effect the current economy system?

[Rooster101]

Cryptocurrencies like bitcoin are called the disruptive economic innovations that has the potential to change the current economic structure. It can also change how the banks and financial institutions operates in the near future. The bitcoin transactions, for example, has created the possibility of big transformation in the banking industry around the world.
Bitcoin has also open the gate for a new kind of market where government have no control unlike the present fiat market. Some illegal activities like money laundering will be hard to detect if they use bitcoin to get the money out of the country. The use of bitcoin will surely affect the economy in the long run and some government are now taking steps on finding a solution to these problems.

[wuvdoll]

I don't know if bitcoin effect the economy system, may be yes for the country who legalize bitcoin but bitcoin can't give effect for the country who not accept bitcoin. I just know if bitcoin give big impact for bitcoin users to improve their financial problem and make their lives easier especially in transactions.

It will effect in terms of those investors who are trying to invest more in digital that in regular stocks in their countries, some country like China may have a agenda regarding this matter since it may lessen their potential investors and will shift to ICO.

Basically when the money is moving out from regular traditional investments into crypto currency, then obviously we can expect some big impact in to a country's economy system. Probably already happening with many countries as we can witness huge money inflow into crypto currencies which are supposed to be into their share markets, gold and real estate investments.

But from one country's perspective, they cannot do any big regulations regarding this because it is basic public preferences like they can risk their money wherever they are preferring to. Still, government may come forward to impose many regulations against crypto currencies but we can expect public alone will be winning at the end because a country is nothing but its population.

[Bitcotalk]

I don't know if bitcoin effect the economy system, may be yes for the country who legalize bitcoin but bitcoin can't give effect for the country who not accept bitcoin. I just know if bitcoin give big impact for bitcoin users to improve their financial problem and make their lives easier especially in transactions.

When some society of one country is improved, that definitely impart some effect on main country’s economy. If the living standard of people is getting high so they may be giving more taxes and ultimately empowering the stance of economics of that country. Bitcoins are helping people from a long time and that is ultimately affecting the living standards of people and financial status of economy.

[hastag_80]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Bitcoin effect the current economy system if the digital currency will become regulated and the government will make a law to used  and accept the bitcoin as an alternate of the traditional currency.this system will only affect if your own country allows bitcoin to operate without  a barrier in making a trading investment  in the exchanges market,and by this aggrement  theres possibility that it will be implemented the economy system.

[snedyolo]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

I think, in some ways bitcoin affects the economy system of a certain country. Although, there is no precise specification as to where and how it affects the economy. Still, when something involves money, it means that it somehow affects the economy. Particularly, bitcoin who has many users within a single country. This is why it affects, for me.

[adolf512]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Anyway, bitcoin and other crypto-currencies have already attracted huge attention from countries. In the future, some countries will prohibit, some regulate and some will implement. For this reason, Therefore, I believe that bitcoin will change the system of the economy.

[Ranly123]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Anyway, bitcoin and other crypto-currencies have already attracted huge attention from countries. In the future, some countries will prohibit, some regulate and some will implement. For this reason, Therefore, I believe that bitcoin will change the system of the economy.

The countries economy depends on how people adopt on the new method or services that this generation to offer. Like what you said there are different ways the country did to control cryptocurrency in their nation. Bitcoin slowly changes the way the economy moves and in the future the effect of cryptocurrency will be known from all corners of the world.

[Onyx0]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Anyway, bitcoin and other crypto-currencies have already attracted huge attention from countries. In the future, some countries will prohibit, some regulate and some will implement. For this reason, Therefore, I believe that bitcoin will change the system of the economy.

The countries economy depends on how people adopt on the new method or services that this generation to offer. Like what you said there are different ways the country did to control cryptocurrency in their nation. Bitcoin slowly changes the way the economy moves and in the future the effect of cryptocurrency will be known from all corners of the world.

Yeah after some year will see bitcoin at the top of all currency, it is common currency now as many people know bitcoin, bitcoin has become saving for people as rich people are now using bitcoin and saving it for future, now government is allowing tax for bitcoin users. Price of bitcoin will be affected at the economical state such as taxing and using bitcoin to buy all those goods which are related to the economy of country.

[BTG-BTC]

For that it would be necessary that one day it becomes stable ..

[MiF]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Anyway, bitcoin and other crypto-currencies have already attracted huge attention from countries. In the future, some countries will prohibit, some regulate and some will implement. For this reason, Therefore, I believe that bitcoin will change the system of the economy.

The countries economy depends on how people adopt on the new method or services that this generation to offer. Like what you said there are different ways the country did to control cryptocurrency in their nation. Bitcoin slowly changes the way the economy moves and in the future the effect of cryptocurrency will be known from all corners of the world.

Yes i agree on that it really depend on tge people on how they welcome bitcoin as thier new asset of gaining  and i believe that bitcoin can really brought changes in many ways because it really motivate everyone to become more productive and tje economy well really rise because the people will slowly become motivated.

[Macai]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

It would definitely have an impact on economy. If everybody who invests or into bitcoin will succeed in it then it would mean more money for them. More money would mean stronger buying power and would definitely give a boost to economy.

[jelly1999]

Earlier all the monetary transactions were enabled through central banks (directly or indirectly). Now, with the evolution of Bitcoins, the scenario has changed. The power that was vested in the governments and central banks is shifting to the masses. This revolutionary change in transaction handling has the power to change the economic structure. To bring security and enable scrutiny, central banks and financial institutions maintain a record of all the transactions undertaken by the people. Now with digital currencies, this economic power can be challenged by people. This has led to the creation of a new autonomous body which can facilitate transactions.

[Rebisco]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Bitcoin can change the current economic system. We can now use bitcoins to pay bills and also to buy products and services. There is a possibility that most of the people in our society will use bitcoins.

[nethan1btc]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

It would definitely have an impact on economy. If everybody who invests or into bitcoin will succeed in it then it would mean more money for them. More money would mean stronger buying power and would definitely give a boost to economy.

I agree, which make sense that it would give a great effect to our current economy. As I lived in this country that the crypto currency was recognized by our government I would say yes, it can give big help to each and everyone here in bitcoin community. I already met those people change their way of living due to the crypto currency as they become rich just an instant for just short period of time. Lastly, as we have enough patience to wait by holding our tokens definitely, soon in the future it may change our way of living as we believe that token have a great potential in the future which make cause good impact to our current economy system.

[josephpogi]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Yes it can affects to currency  if you have crypto your money or curreny will become too small for you because cryptocurrency is more good than currency but you should need currency to buy some foods and others so i think it can help a lot to all people .

[jassanpary]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Bitcoin can change the current economic system. We can now use bitcoins to pay bills and also to buy products and services. There is a possibility that most of the people in our society will use bitcoins.

Bitcoin will definitely affect the economy of the system because bitcoin is not taxable it's tax-free, so based on the transaction done by the bitcoin users it will affect the economy. As the economy is dependent on the taxation, it would affect.

[andrei56]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

It has minor effect for now, I think. In most countries you still can't buy anything with bitcoin, but when most people start using bitcoin and keep their savings out of banks it will affect country's economy a lot. As for today, country's economy influence Bitcoin rather than the reverse.

The effect of bitcoin over the economy will keep increasing as adoption grows, imagine what it is going to happen when a significant amount of people begin to see that investing in bonds does not give them benefits while those that invest in bitcoin and altcoins are earning a fortune, a lot of money is going to be invested and most of that money is never going to go back to the fiat market since people will understand that it is better to hold bitcoin that goes up in value in the long term than to hold fiat that losses purchasing power every day.

[TheGodFather]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Of course it does, there’s no doubt that bitcoin was able to make a ripple in our economic functioning as a country. However, it is still not big enough to completely make a dent of what it can do to our country as major countries have been shutting it off due to its fear in how it can get volatile and might cause some heavy influx and implosion on its normal setting.

[Sled]

Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

Of course it does, there’s no doubt that bitcoin was able to make a ripple in our economic functioning as a country. However, it is still not big enough to completely make a dent of what it can do to our country as major countries have been shutting it off due to its fear in how it can get volatile and might cause some heavy influx and implosion on its normal setting.

In the reality, bitcoin doesn't have some effect on the current economy system because bitcoin is still on the progress for really getting adopted in a country and since bitcoin is not yet fully accepted in some countries, the effect of bitcoin is not yet felt and the idea of thinking that it has some effect is just an illusion.

[lesinset]

It will indeed affect each and everyone's country since it's a good source of income that is not coming from the government.