Bitxoin and the economy

[PatronRH]

Im conducting a school research about economy and I chose to talk about bitcoin. The subject is how does bitcoin affect the world's economy? does it do well to it because it stops inflation as the amount of it is limited? or does it harm it ?

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[Jaycee99]

Please first forgive me because you have one question that is not clear to me for the reason that is not clear in my vocabulary.

Please respect me because I will answer your question base one I understand it.

Im conducting a school research about economy and I chose to talk about bitcoin. The subject is how does bitcoin affect the world's economy

 It helps us to know about the business world because in bitcoin it is used for business by studying bitcoin one will know and increase more knowledge about bitcoin and companions. It helped many people to get more income and get it to cryptocurrency world.

 does it do well to it because it stops inflation as the amount of it is limited? or does it harm it ?
[/quote]

It stop inflation due the error and/or correction that bitcoin value is doing right now. No harm is intended as bitcoin amount that is limited.


I really hope I got the answer you want to get

[Godric-Gryffindor]

Im conducting a school research about economy and I chose to talk about bitcoin. The subject is how does bitcoin affect the world's economy?

Bitcoin has no direct effect on the world's economy, however, I believe Bitcoin price direct affect stock and other indices with few exceptions, to forex, to push the majority of investors to heavy sell, the last phase of fourth quarter. Heavy buy and selloffs happened because many investors want shorter gains, but doesn't affect bitcoin long-term possibilities, I think.

[chickenado]

Im conducting a school research about economy and I chose to talk about bitcoin. The subject is how does bitcoin affect the world's economy?

Bitcoin has no direct effect on the world's economy, however, I believe Bitcoin price direct affect stock and other indices with few exceptions, to forex, to push the majority of investors to heavy sell, the last phase of fourth quarter. Heavy buy and selloffs happened because many investors want shorter gains, but doesn't affect bitcoin long-term possibilities, I think.

Well I believe that the bitcoin is really a great big help on the  economy specially to those people who really need an extra income to survive because the world now is really suffering from poverty and the bitcoin is their way or maybe an asset of gaining a huge amount.

[Kotone]

Im conducting a school research about economy and I chose to talk about bitcoin. The subject is how does bitcoin affect the world's economy? does it do well to it because it stops inflation as the amount of it is limited? or does it harm it ?

Bitcoin helps the economy, because it works on a micro level. It helps people who have invested and are dabbling on it gain more sources of income and by doing so can elevate the life of a family in a small scale but if you can put at it in a together and collaborative level then you can see that it can make a considerable dent in the economic standing of a country as it can help them

[ashfer]

It is a good topic to conduct research work on the economy and bitcoin is something to be done as main for study purpose.As btc does not bring in any kind of bad impact for the economic situation in fact it also contributes in up lifting the economy. Even though nobody is taxed for being an investor on bitcoins it also helps in the economic developed.Some people think that btc does not contribute for economic growth but their theory is wrong in fact it also helps in the economic growth even if the user does not disclose their identity to the public the once enjoying the benefits of bitcoins automatically contributes  to the economic growth when they cash out their btc and transfer the fund to their bank.The bank automatically charges the tax for the fund that goes to the account.

[Torenta]

Please first forgive me because you have one question that is not clear to me for the reason that is not clear in my vocabulary.

Please respect me because I will answer your question base one I understand it.

Im conducting a school research about economy and I chose to talk about bitcoin. The subject is how does bitcoin affect the world's economy

 It helps us to know about the business world because in bitcoin it is used for business by studying bitcoin one will know and increase more knowledge about bitcoin and companions. It helped many people to get more income and get it to cryptocurrency world.

 does it do well to it because it stops inflation as the amount of it is limited? or does it harm it ?

It stop inflation due the error and/or correction that bitcoin value is doing right now. No harm is intended as bitcoin amount that is limited.


I really hope I got the answer you want to get
[/quote]
Bitcoin is of interest to economists in part for its potential to disrupt existing payment systems and perhaps monetary systems as well as for the wealth of data it provides about agents' behavior and about the Bitcoin system itself. Platform's design principles and properties for a non-technical audience; reviews its past, present, and future uses; and points out risks and regulatory issues as Bitcoin interacts with the conventional financial system and the real economy.

[pogiparin]

It does not stop inflation. Bitcoin is pretty small in terms of power in the economy. We always worship bitcoin because of its value and that is the problem here. Bitcoin is unregulated, meaning the prices of it constantly fluctuate due to demand and supply only. Unlike money, the demand and supply is not the determinant of prices. The central bank can interfere and set a standard on the price of commodities.

[MadAndHoldersPattern]

As of now, bitcoin is just a minor speculative asset, it does not have any significant impact on the economy. You could say that money people would otherwise put in savings or other investment classes like precious metals, real estate, stock market, penny stocks, mutual funds, they invested in crypto instead. So bitcoin's impact is that it has reduced the value of other asset classes (only slightly, by less than 0.1%).

[frowsiter]

Im conducting a school research about economy and I chose to talk about bitcoin. The subject is how does bitcoin affect the world's economy? does it do well to it because it stops inflation as the amount of it is limited? or does it harm it ?

There is impact of currencies or things on the national economy only if they are contributing to the taxes. The tax is the only way to get money from the investors or businesses or even people like us which later on can be used for the national development. If that’s the case then we can use it for the purpose of affecting the worlds economy. Even that won’t affect the whole world because every country is having their own regulations and ways of taxing limits. So it would be up and down amount everywhere. But his is really vast area and I belive you need to have broad study to understand the after effects.

[zxl912157]

The increasing economy is when people can afford to buy their needs. it's simple, and bitcoin has manifested it.

Many people can not enjoy their lives because they can not meet their daily needs. That's how I feel and since knowing Bitcoin my life has changed.
thanks Bitcoin.

[andrei56]

As of now, bitcoin is just a minor speculative asset, it does not have any significant impact on the economy. You could say that money people would otherwise put in savings or other investment classes like precious metals, real estate, stock market, penny stocks, mutual funds, they invested in crypto instead. So bitcoin's impact is that it has reduced the value of other asset classes (only slightly, by less than 0.1%).

Bitcoin is small compared to all those markets that is correct but it is growing and it cannot be ignored any longer, if bitcoin was to remain at the same size as it is now I'm sure there will not be a lot of attention given to it, but the potential of bitcoin to become bigger is what is worrying banks and other politicians and that is why there is such a big push to have more regulations put in place.

[Twinscoin2017]

As of now, bitcoin is just a minor speculative asset, it does not have any significant impact on the economy. You could say that money people would otherwise put in savings or other investment classes like precious metals, real estate, stock market, penny stocks, mutual funds, they invested in crypto instead. So bitcoin's impact is that it has reduced the value of other asset classes (only slightly, by less than 0.1%).

Bitcoin is small compared to all those markets that is correct but it is growing and it cannot be ignored any longer, if bitcoin was to remain at the same size as it is now I'm sure there will not be a lot of attention given to it, but the potential of bitcoin to become bigger is what is worrying banks and other politicians and that is why there is such a big push to have more regulations put in place.

Yes I agree on that maybe the bitcoin become now really big enough to make bank worried that is why they really make a bad issue on bitcoin and some other country really band it.But those things is really always happening from the past it is also said to be that bitcoin will be band all over the world but they can't do stopping it because I believe that there are many big investors invest in bitcoin that is why some government having a hard time to stop bitcoin.

[mrcash02]

The impact Bitcoin causes is destabilization in local economies, causing a strong headache on local governments.
Bitcoin is a profitable investment, much more than bank saving accounts. So people cashout their money from banks and put in Crypto-Currency, what can cause losses for banks as they are constantly using investors money to make their own profit (and sharing only a minimal part of it).

Tax evasion is another effect of Bitcoin on economy, so governments will have to review their politics, decrease public outgoing, decrease the size of state machine, review the welfare programs.

Another effect is decreasing the costs for everyone when making transactions. With Bitcoin and Crypto-Currency in general we have the option to exclude the middle-man, transacting directly person to person. Less bureaucracy, less stress, less outgoings, more accessibility.

[PatronRH]

The impact Bitcoin causes is destabilization in local economies, causing a strong headache on local governments.
Bitcoin is a profitable investment, much more than bank saving accounts. So people cashout their money from banks and put in Crypto-Currency, what can cause losses for banks as they are constantly using investors money to make their own profit (and sharing only a minimal part of it).

Tax evasion is another effect of Bitcoin on economy, so governments will have to review their politics, decrease public outgoing, decrease the size of state machine, review the welfare programs.

Another effect is decreasing the costs for everyone when making transactions. With Bitcoin and Crypto-Currency in general we have the option to exclude the middle-man, transacting directly person to person. Less bureaucracy, less stress, less outgoings, more accessibility.

Thanks mrcash02 that has been very helpful. Yet maybe even if bitcoin reduces the transaction fees plus it helps with the inflation but maybe goverments fail to control the currency that will lead to chaos and makes the economy collapse.

[esa2782]

It is hard to say thay bitcoin could effect economy in bad ways because as far as we know economy is always in relation with political decision, the change in economy whether it is in bad or good always start with political decision, so bitcoin as a digital money should not do something harm on economy but instead enhance and widening tools for entrepreneurship to get more attention from global community

[EtherSpin]

Im conducting a school research about economy and I chose to talk about bitcoin. The subject is how does bitcoin affect the world's economy? does it do well to it because it stops inflation as the amount of it is limited? or does it harm it ?

High inflation can be bad, as shown in places in India and Zimbabwe. However, controlled inflation can be good for a growing economy. Bitcoin has properties similar to gold - scarcity.

[tabas]

The subject is how does bitcoin affect the world's economy?

The same as the normal country's economy from different sectors of source of income. When someone earns from bitcoin, he will contribute to his/her countries economy by having the purchasing power.

does it do well to it because it stops inflation as the amount of it is limited?

It does well because there's a big market cap of it.

or does it harm it ?

It harms only depending on its usage just like cash.

[joms07]

company is helping people mine for bitcoin. ... Started in 2013, Genesis Mining has grown into the world's largest cloud-based blockchain and cryptocurrency mining company, used by bitcoin miners the world over. ...

[mrcash02]

The impact Bitcoin causes is destabilization in local economies, causing a strong headache on local governments.
Bitcoin is a profitable investment, much more than bank saving accounts. So people cashout their money from banks and put in Crypto-Currency, what can cause losses for banks as they are constantly using investors money to make their own profit (and sharing only a minimal part of it).

Tax evasion is another effect of Bitcoin on economy, so governments will have to review their politics, decrease public outgoing, decrease the size of state machine, review the welfare programs.

Another effect is decreasing the costs for everyone when making transactions. With Bitcoin and Crypto-Currency in general we have the option to exclude the middle-man, transacting directly person to person. Less bureaucracy, less stress, less outgoings, more accessibility.

Thanks mrcash02 that has been very helpful. Yet maybe even if bitcoin reduces the transaction fees plus it helps with the inflation but maybe goverments fail to control the currency that will lead to chaos and makes the economy collapse.

It' still a unclear scenario about how governments will try controlling Crypto-Currency, it's really hard to do this and we can speculate about different hypothesis. I believe a solution governments plan to decrease decentralization power is to create their own Crypto-Currency, a digital currency centralized by the local government. It's not good in my opinion, "it's six of one and half a dozen of the other" (using fiat or centralized Crypto-Currency), no real benefits for enthusiasts.

A balanced solution could be found to benefit all parts, but only if governments put their own interests aside.
It's impossible to have a country with the advantages of liberalism (less taxes and fees), and with the benefits of a swollen state (welfare programs, state finances several sectors of society, etc...) at same time.

If a balance is found the economy won't collapse.