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Author Topic: Bitxoin and the economy  (Read 94 times)
KalaiBTC
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February 13, 2018, 09:08:38 AM
 #21

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.
I think bitcoin has a direct relation on the economy of a country, as to seeing one side of it if it’s taxed the government gets benefit hence the economy boosts. On the other hand if more and more people are employed earning a handsome amount of money, the rate of unemployment decrease, the financial condition gets better and ultimately the economy of a country stands good. However the governments the very keen towards formulating a policy regarding the bitcoin that will be in the favor of the government also.

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February 14, 2018, 02:58:42 AM
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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.
The problem with controlled inflation has to do with the fact politicians sell that as a way to create a controlled economy but they never have inflation under control because they keep printing money and pumping it in the economy and when they cannot collect enough taxes to keep the government running they print money as well this creates uncontrolled inflation that after some time kills the economy.
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February 14, 2018, 05:23:22 AM
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Bitcoin and economics I think both are needed in life. Bitcoin can overcome unemployment and can change a person's fate. While the economy is an indispensable necessity in life. To continue a better life for sure people will think how to make the future bright. By investing the economy will improve.

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February 14, 2018, 05:46:50 AM
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You are pretty much misspointing here.
Bitcoin is not blocking inflation.
Bitcoin as a currency has a fixed inflation, but it doesn't mean that it has any affect on other currencies especially fiat currencies.
You can say that if everybody will adopt bitcoin and it will become our international currency, then we are going to have a financial system with a fixed inflation rate.


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