Will bitcoin effect the current economy system?

[mx667]

Bitcoin always effect in the economy , there are bad and good effect . The bad is BITCOIN is not taxable means government can`t produce tax for the development of the country , if government accepting bitcoin and got a taxes to all the user of it . The country's financial resources can further enhance for the brighter generation . For me i take a good effect but i dont know what is good effect for the economy . Maybe good if government accepting bitcoin as partner for all the transaction online .

I ask first, what kind of economic system do you mean? Because the economic system around the world is very diverse and consists of various aspects. There are investments, there are buying and selling activities, there is international trade, there are export and import, and so on. Or maybe you're talking about the world of stocks and trading? However, Bitcoin certainly will influence the economy from one side. Bitcoin and cryptocurrency are the latest solutions and innovations for the world economy. Especially for the poor and the simple living, it is very important for them to open the chance to have a better life.

[Justin-Checqit]

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

It definitely will, of course cash won't be erased from out society, but a lot of fiat has been converted to cryptocurrencies so far and we can expect the tendency to at the very least remain stable. It'll ultimately be up to every country to gather income taxes from the cryptocurrency investors. It'll be up to the banks to help their clients invest in the cryptocurrency world rather than go against it, cashing in profits on the brokerage.

We're seeing index funds looking at cryptocurrencies, hedge funds also, on top of the futures of bitcoin, the cryptocurrency world ,while still in its infancy state, is definitely going to bring humanity through great changes of economics in most of the countries in the world.

[kateryana81]

Lot of people are talking about the economic effects of bitcoin, but they forget that the main impact will be at political level:
it the system really become decentralized, a lot of institutions will become obsolete; this change will start a revolution so big that nobody can really predict its consequences.

Bitcoin is already decentralized, everyone can make use of it. Any country that’s not making use of Bitcoin, then it is their government that is preventing them from making use of it, maybe because they believe it is very bad for the economy of their country. So Bitcoin is fully decentralized.

[legenduim]

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

Certainly it will effect the economy and it will do it in a positive way. However many countries are afraid of it, and it does not let BTC improving their lives.

[Basmic]

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

Certainly it will effect the economy and it will do it in a positive way. However many countries are afraid of it, and it does not let BTC improving their lives.

Use bitcoin for cash trade is not profitable. High transaction cost prevents this. A lot of coins now also have high fees miners. Bitcoin now used by most users for storage and movement of their savings. Therefore, the effect of bitcoin on the economy is minimal. Maybe in the future, poor countries can attract investment from bitcoin. But for the economy important the efficiency of investment.

[Martinkuhn]

BTC and crypto in general will have a significant impact on the current financial and economy system.

Many intermediaries will be cut off, like banks, agents and people will be able to control their own finance without these middlemen.

Of course there will still be people who wants to store their cash in the bank but this will get eroded as time goes by.

The entire economy will be run by crypto currencies as well as smart contract in the future

[komjhq]

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

Certainly it will effect the economy and it will do it in a positive way. However many countries are afraid of it, and it does not let BTC improving their lives.

Use bitcoin for cash trade is not profitable. High transaction cost prevents this. A lot of coins now also have high fees miners. Bitcoin now used by most users for storage and movement of their savings. Therefore, the effect of bitcoin on the economy is minimal. Maybe in the future, poor countries can attract investment from bitcoin. But for the economy important the efficiency of investment.

It seems to me that in the first place Bitcoin will affect the economy in the event that the bankrupt of all those people who invested in Bitcoin money. Then there will be a huge failure for many business ideas and personal ambitions.

[tweetbit]

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

An accumulation of cash coin by many hoarders can decrease the circulation of financial exchange in one country that also affect economically, what more if those are millions of dollar transaction that is spent after a profit in bitcoin in a country of destination then the answer is, Yes. It affect in positive and negative way but until now no study on how big the range of effectiveness there is.

[Hamphser]

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

Certainly it will effect the economy and it will do it in a positive way. However many countries are afraid of it, and it does not let BTC improving their lives.

Use bitcoin for cash trade is not profitable. High transaction cost prevents this. A lot of coins now also have high fees miners. Bitcoin now used by most users for storage and movement of their savings. Therefore, the effect of bitcoin on the economy is minimal. Maybe in the future, poor countries can attract investment from bitcoin. But for the economy important the efficiency of investment.

It seems to me that in the first place Bitcoin will affect the economy in the event that the bankrupt of all those people who invested in Bitcoin money. Then there will be a huge failure for many business ideas and personal ambitions.

But those thinking of yours didnt happen as we see on the current state as of now. It might give some minimal impacts which is normal but stating on the thing you do said which wont really happen after all.
People are holding bitcoin most of the time which i do believe that most of us do see this thing as an asset and spending or make it circulate would really be lesser.

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

An accumulation of cash coin can by many hoarders can decrease the circulation of financial exchange in one country that can affect economically, what more if those are millions of dollar transaction that is spent after a profit in bitcoin in a country of origin then the answer is Yes. It affect in positive and negative way but until now no study on how big the range of effectiveness there is.

Regarding on the range of effectiveness then theres no really study on that. Accumulation would really exist on both sides which isnt really surprising.

[Aikidoka]

There are three kind of things concerning the bitcoin's effect on the economy system. The first one is based on banning bitcoin because people are depending on it, thus a threat arises. For example, China has banned bitcoin. And we all know that China is overpopulated, thus the use of bitcoin is so high.

The second one is bitcoin affecting the economy system, but getting benefits in return. Some countries like Japan have recognized bitcoin but regulated. That means they take their share. And I think this is the best solution by far because it feeds both the government's and people's needs.

The third one is based on bitcoin affecting the economy system, but the government is still quiet about it because they cannot provide jobs for the unemployed. So they allow them to do what they want as long as they do not complain.

[KluFf]

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

yes Bitcoin gave so much effect/impact to our economy.

such as :

1.they use Bitcoin to pay for cars foods and some other things.
2.investors prefer to invest on cryptocurrency than in a banks.
3.hot issue on some country because they say "bitcoin is a Money laundering"
and "bitcoin is a bubble" .

not only bitcoin give effect/impact to our country but altcoins too !

[CASTIEL05]

Bitcoin affects the economic system very well specially in the third world countries. Bitcoin helps unbanked people to survive and fulfill their needs. It helps unemployed people to find source of income. A lot of things that bitcoin affects our economy even in individual or national growth.

[umrohyuk]

it surely effect the economy system. We know that every day the user of bitcoin is increase, event they use bitcoin as the main job to get extra income. They believe that bitcoin will give much advantages to change their economy. Automatically, when the users of bitcoin always increase, it will much effects to the economical side. 

[becak mesin]

of course, today many people know and use bitcoin. It means that the user of bitcoin so many. Automatically, they who use bitcoin will be better in financial side because they believe that bitcoin guaranty their life. When it happens, the government will get low of tax, since bitcoin is free tax.

[EtherATM]

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

Of course it will take a significant impact to each of country all over the world. Because as far as you know that although bitcoin is going more viral nowadays, there are almost many people don’t know what bitcoin is and some don’t believe in this market due to it digital. Maybe people will spend much of their time investing bitcoin and then this world become overloaded. We will depend a lot in bitcoin. These day, in some countries, they accepted bitcoin for purchase such as coffee, T-shirt, books and the like, but it’s not too much more popular.

[suyanico]

I think cryptocurrency will be a new cashless method neither just bitcoin. Because in fact bitcoin is used more as a trading asset than used as a cashless method. Does it affect a country's economy? it's depend  on  the policy of the country to allow cryptocurrency to be used in financial transactions that used by its citizens

[ngavanngo22]

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

Bitcoin, as well as cryptocurrencies, affect the economy of the country is undeniable. It is because of this fear that national governments have banned the Bitcoin trade in their country for fear Bitcoin will affect the country's economy and currency. In the future, when transactions are made mainly on the Internet, Bitcoin will ultimately replace the paper money.

[Semosuchi Tesongrato]

I think that bitcoin will affect much more traditional power institutions (banks, governments) than economy.
Bitcoin is just a medium of exchange, but if authorities can't control it, they will lose their power.
If bitcoin will win, you can bet that we'll live in a very different society.

[andrei56]

It will change the whole world economy and our daily life. The current economic system castles ( big companies, g5, g8 countries, USA, Europe) will act against Bitcoin and crypto currency, and they will start a war in the near future.

I do not know about that, they may be eager to start a war against bitcoin but they must know it is a war they cannot win, so they are going to try to do their second best option which is to limit bitcoin and its usage around the world, but that is not going to work either, everyday that passes the economic system show greater vulnerability and when it finally collapses bitcoin will be there to help the people escape the tyranny of their governments.

[dewi91]

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.