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Author Topic: Economy in your country  (Read 1584 times)
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February 15, 2018, 05:10:41 PM
 #21

What do you think are the effects of btc in your country? Because in my country it thus not affect the economy of ours. Share yours.

Maybe for now with bitcoin access in my country hasn't been able to help the country's economic growth, but at least can create a means of work for those who have the ability and knowledge of bitcoin so as to reduce the level of unemployment that has become a polemic. in every developing country, and of course bitcoin is something positive that needs to get support from various parties for future developments

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February 15, 2018, 05:35:10 PM
 #22

The effect of crypto currency on individual country basis does not worth any attention a look at this analogy. The total crypto market capitalization is about $473,609,873,031 taking a United States as a country with a population of 323,000,000 breaking that down on the average to the whole population you will get $1,466.28 per individual. How do you expect that to then have effect on the economy of a country. If the argument is that the population of US is so high then we should consider dividing the entire market capitalization by the over 197 countries of the world.

The fact is crypto currencies are still emerging currencies in the world financials but all of the campaigns against it is because the future which agencies and government knows if it goes unabated might spell doom for the traditional market.
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February 15, 2018, 05:43:32 PM
 #23

I don't know if the effects in my country's economy are too big, otherwise the government would be desperated to legalize it immediately. But I see the banks are already very worried about Bitcoin, some of them have already tried to forbid people to transact money to or from exchanges.

Maybe because people are moving their money out of the banks to invest in BTCs, others may be not paying taxes, putting their money in BTCs. So the impact is that the individuals eare becoming richer, while the state is collecting less money than they need to keep the state machine swollen as it's now.

After people cashout their BTCs into fiat, more money will be circulating on the country, boosting the services sector, boosting the economy and distributing the money among all those who have a quality service to offer.

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February 15, 2018, 05:44:49 PM
 #24

Bitcoin helps people in our country no matter what your status here as long as you know how to operate computer you may join....
it helps a lot of us to buy what we need for our daily basis, it helps people, it helps our economy in indirect way...
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February 15, 2018, 06:33:31 PM
 #25

btc does not have a big impact in indonesia because btc in indonesia is still not famous even though its users are said to increase every year. generally btc transactions are used for foreign transactions.
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February 15, 2018, 07:19:29 PM
 #26

What do you think are the effects of btc in your country? Because in my country it thus not affect the economy of ours. Share yours.

Actually i dont feel any changes about our economy about the effect of bitcoin. Because they are not aware about btc.
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February 15, 2018, 07:44:32 PM
 #27

I think there is no effect for my country. the government of my country  is prohibit bitcoin and although my country accept bitcoin but bitcoin can't improve the economy in my country because the economy of my country is really not good, many cases of corruption and so many foreign debt, so complicated.
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February 15, 2018, 07:45:57 PM
 #28

The effects have not been felt yet. I guess individuals are just starting to hear about it and so very few are into it. Meaning, just minimal achievements with it which is still within struggling to survive. No limo yet  Grin

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February 15, 2018, 08:01:55 PM
 #29

Countries with a high level of shadow economy are more prone to transactions in the crypto currency. My country is on the leading places for shadow turnover, it turns out and the economy depends on the crypto currency.

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February 15, 2018, 08:09:38 PM
 #30

Countries with a high level of shadow economy are more prone to transactions in the crypto currency. My country is on the leading places for shadow turnover, it turns out and the economy depends on the crypto currency.

Agreed, but still the amount of fiat being transacted into these kinds of deals isn't negligible too, to the say the least. True that crypto has been the haven of drug and arms dealers forthe past 5 years but with the increased regulations imposed by the government, i don't think crypto would stillbe the go-to of people who are invovled in shady alley transactions.

In the current times, there isn't a direct impact of crypto in our country's economy yet. The government had been issuing regular advisories about scams and whatnot but they aren't getting directly involved yet, and the number of people who know crypto isn't that high for their movement to have a significant impact on the country's economy. Most people who are working ocerseas see bitcoin and other crypto as another method of remittance, though the recent situation of stricter KYC might affect that decision of theirs but still it's a viable option compared to wire transfers and such.

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February 15, 2018, 08:33:32 PM
 #31

BTC is till not noticed by a lot in my country but the trend was amazing lately , I can tell you the user base of crypto overall  increased by a lot . But still this is far far away from effecting my country economy . You know that the only reason any country will ban crypto for , is the clam it is effecting the economy of the country . In most cases it will not be true but will be just clam to ban BTC and cryptos .


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February 15, 2018, 10:04:41 PM
 #32

BTC is till not noticed by a lot in my country but the trend was amazing lately , I can tell you the user base of crypto overall  increased by a lot . But still this is far far away from effecting my country economy . You know that the only reason any country will ban crypto for , is the clam it is effecting the economy of the country . In most cases it will not be true but will be just clam to ban BTC and cryptos .
The economy of my country today is really disappointing maybe it is all because of the corruption of some politician on the budget of the government for the poor and for all building reconstruction or modernization process that is why everyone or individual I my country really suffering from the huge poverty.
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February 15, 2018, 10:23:37 PM
 #33

For me it is a total blackout. Except myself and a few people I met here on Bitcointalk, I never saw anyone even knowing properly what is Bitcoin before I told them. So the impact over our economy is absolutely inexistant, and here lies the potential : catching daily trade.


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February 15, 2018, 10:24:02 PM
 #34

What do you think are the effects of btc in your country? Because in my country it thus not affect the economy of ours. Share yours.

As much as we want to think that there are a lot of people using bitcoin, still a small percentage of the population really know what bitcoin is. So in my country, only few knows what bitcoin is so there not much effect on our economy.

But its really good to see that bitcoin who earn bitcoin can really enjoy financial freedom. They have a lot of buying power now which turns re ignite our economy to a certain extent.

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February 15, 2018, 10:29:44 PM
 #35

Bitcoin has no effects whatsoever on the economy of any country in particular, I guess. And why should it? Some people are getting rich, but this does not affect an entire nation.

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February 15, 2018, 10:43:35 PM
 #36

The effects of bitcoin in my country, enough to give a positive impact for some people,
marked by the increasing number of virtual currency online transactions and indeed some of the community's view that the virtual currency will be a lucrative investment, of course with this virtual currency, is expected in the future coming can have a positive impact for the economy in all circles ..
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February 15, 2018, 11:00:44 PM
 #37

In my country bitcoin is not known too much, but it seems to be known more this year.
I think if my country accepts the circulation of cryptocurrencies in the country, our economy will increase, I say that because until now there is no clear laws about cryptocurrencies and I fear that one day it will be banned here.
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February 15, 2018, 11:14:07 PM
 #38

In my country i think there are a lot of users. I think that was 2 weeks ago, I was eating in Mcdo and i heard two persons talking about it. They keeped their voice low but still i heard it😂
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February 16, 2018, 12:12:11 AM
 #39

if for a country's economy still does not impact, because the state still wants to adjust to this crypto currency, but for the economy individual may be very helpful, because the income we get from bitcoin is quite satisfactory.
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February 16, 2018, 12:29:20 AM
 #40

What do you think are the effects of btc in your country? Because in my country it thus not affect the economy of ours. Share yours.

Maybe for now with bitcoin access in my country hasn't been able to help the country's economic growth, but at least can create a means of work for those who have the ability and knowledge of bitcoin so as to reduce the level of unemployment that has become a polemic. in every developing country, and of course bitcoin is something positive that needs to get support from various parties for future developments
To great effect on the state economy of course it is still very far away dude. you know bitcoin users in many countries are still very few compared to the total population of that country. so the effect for economy its cant seen. unless  total bitcoin users in one country reach nearly 100% of the entire population. it will certainly have a profound effect on the country's economy. but for now I think bitcoin is not very influential for the country's economy. yeah maybe only exert an economic influence on the user's personal

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