the contribution of bitcoin to the individual economy

[Hydrogen]

Do you think bitcoin can contribute to the economies of a country that is down?

and by what methods to maximize bitcoin function so as to improve the country's economy?

is legality and adoption needed to facilitate bitcoin performance?

share your opinion, thank.

Well, I think Venezuela is attempting this at the moment. They're trying to create value by releasing their own petrol backed ICO/altcoin. Can it work? We will see.

In a broad sense, bitcoin could provide additional economic and financial opportunities, create jobs and value. It may also empower entrepreneurial solutions, small businesses and industry by providing means of conducting transactions which are deregulated and trustless and thus more efficient, affordable and innovative than many traditional bank implemented solutions.

I think education and information may be the best means to maximize bitcoin function and boost economies. It may already be too late. Those who enter crypto now will never have seen how well it functioned before it became more prone to KYC or regulation. And they'll never seen or know how great bitcoin was before it became a target for spammed DDoS transactions to artificially boost the cost of transactions. Even electrum wallet seems to be set on default to payout approximately $30 on transaction fees, for no reason.

[amih]

the level of a country's progress can be seen from the level of economic community tarap that occupy a country. and I think bitcoin will have a good contribution to the economic progress of a country because I think Bitcoin has the potential to revolutionize the financial world. and of course bitcoin as the future financial revolution of course bitcoin will be an excellent alternative to the economic progress of a country.

[gambitcoin53]

since bitcoin is popularized, of course many users have improved financially for the economy, although not everyone can now take advantage of it, but I think almost all users can benefit from bitcoin because of the knowledge factor even a few of those who have success from business bitcoin.
with the fact that we know that bitcoin is capable of improving individual economic users.

Do you think bitcoin can contribute to the economies of a country that is down?

and by what methods to maximize bitcoin function so as to improve the country's economy?

is legality and adoption needed to facilitate bitcoin performance?

share your opinion, thank.

bitcoin has proven that it can boost the economic status of a country by offering services paid in btc even to those who are not holding a degree, it has contributed boost in terms of livelihood and can replace day jobs. it offers opportunity to individuals to participate in traiding and e-commerce.

to maximize the full potential of bitcoin, a country should fully embrace the use of bitcoin, maybe some laws to regulate bitcoin transaction to make their people safe from scams and not use bitcoin for illegal activities, im not saying they should control bitcoin but make it more safer by monitoring illegal transactions or maybe putting up a department to monitor bitcoin transactions and not the users.

somehow legalizing bitcoin is needed to create more investors and erase the doubts about bitcoin being legit or truly functional. if legalized, more people will buy, resulting to high demands of bitcoin, then it will create traffic and bitcoin trading will get a better boost in the market.

[Wallflower28]

Bitcoin is not just helping individual people but also helps the economy as a whole. Cryptocurrency already in a list of main contributors to the world market cap. In fact, cryptocurrency help to boost the economic growth, how? The annual salary or the gross national income of a certain country that used cryptocurrency can rise up. A lot of unemployed people helped by cryptocurrency as well as the bitcoin. The necessities of individual person without any particular job is filled by cryptocurrency.
Therefore, I believe that economic growth is moving up by the help of bitcoin!

[Argie021213]

Bitcoin has provided another source of income for those who invest. It has given them the opportunity for growth by extending their financial capabilities. For a simple worker, the earnings from a regular job is enough for the bills, but after having another source, they have the chance to enjoy their life better. They can afford other things that they want, and they can also improve their financial status by making another investment.

[elena_rose19]

Bitcoin really helps an individual in terms of its financial status. Joining signature campaigns and trading of coins are some of the ways one can have an additional income in crypto industry. In terms of economic growth, cryptocurrency can help a country if they become widely known and fully utilized.

[RamonBTC]

My answer is ,Yes on all three questions. The legality of cryptocurrency can make a big change in its adaptation to businesses and high ranking investors from other markets. And if the numbers of investors profiting in bitcoin or any other alternative currency individually is doubled within a year then the countries economically will be lifted with it. That’s why most country like Venezuela is now on process to implement this technology to help them.

[jaysabi]

since bitcoin is popularized, of course many users have improved financially for the economy, although not everyone can now take advantage of it, but I think almost all users can benefit from bitcoin because of the knowledge factor even a few of those who have success from business bitcoin.
with the fact that we know that bitcoin is capable of improving individual economic users.

Do you think bitcoin can contribute to the economies of a country that is down?

and by what methods to maximize bitcoin function so as to improve the country's economy?

is legality and adoption needed to facilitate bitcoin performance?

share your opinion, thank.

Bitcoin is only a medium of exchange. It doesn't do anything itself the improves an economy. An economy is the aggregate of all the jobs and economic output of the citizens. What about Bitcoin do you think would boost, either in terms of economic activity or jobs, beyond what the local currency facilitates? If a country switches to one currency from another, it doesn't create any new jobs. I don't know why everyone keeps asking this question.

[dewi91]

I think so hard to improve the economy of the country although bitcoin is more popular day by day, but bitcoin is not enough to improve economy in a country. To improve economy in a country is not as simple as you think and bitcoin value is fluctuate may be could have worsened the economy.

[Satry]

I think it's diffult to improve one economy using bitcoin because some of leaders in different country should not accept bitcoin because it's too difficult to trace payments and they thought that bitcoin is one of the perfect hiding for the criminals. So far, bitcoin can help invidually because they can secure financially by joining online jobs.