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Author Topic: Bitcoin plays a vital role in the economy  (Read 1887 times)
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April 30, 2018, 02:54:31 PM
 #21

. But if governments open there eyes and use bitcoin in its positive ways as possible you would be shocked that the third world countries who opens their gates on bitcoin will become one of the best countries we have ever seen.

Nothing is so simple. If the third-world governments, as you wrote, opened their eyes to the use of bitcoin, it will be used by few. Bitcoin, as well as the entire Blockchain technology, can be useful for many many things, but I don't believe it has some kind of "celestial" power of changing the world. It can help an economy, maybe individual economy, to grow up; can change the entire perspective about the banking system or the governments lends... even can achieve somehow of wide position in economy and become crucial to the economic system.
But changing countries were corruption, mislead, wars, poverty and all kind of injustices are taking place... well, it is just technology, not a sort of Greek god.

Do not forget that technology can't reach all the houses. There are millions of people worldwide worried daily just because they have no clean water to drink. Bitcoin, I'm afraid cannot fix all the human issues, it can't stop wars, either injustice. Is a shame, of course. But also, reality.

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April 30, 2018, 03:41:11 PM
 #22

Not only bitcoin but also all kind of currency play a huge role in our world economy. But when we talk about bitcoin usually it's indicate the new trend of banking currency system. So it's different all kind of currency which is exist in our world market because its invisible and it's show many fluctuation than dollars, Euros, PLN at the same time. Although bitcoin is new but it's make effect in our economy a few time, when it will be well-known as like as American dollars, it undoubtedly make strike in world banking system at the same time world economy.   
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April 30, 2018, 03:44:15 PM
 #23

Yes. Bitcoin is somehow the trump card of other countries in terms of economy. Bitcoin can make the market upside down if maintained correctly.
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April 30, 2018, 03:48:23 PM
 #24

if I see a lot of people who are interested in bitcoin. even bitcoin has helped mainly the economic life of people who medium down. creating new jobs. so the number of unemployed becomes reduced .
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April 30, 2018, 03:50:08 PM
 #25

Bitcoin plays a very important role in the economy because everyone is competing and competing to invest in bitcoin.
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April 30, 2018, 04:07:29 PM
 #26

Bitcoin opens many doors of new markets, which would affect the economy of a country, the reason why there are some countries who don't like bitcoin because cryptocurrency controlled by no one and because they don't get taxes. But if governments open there eyes and use bitcoin in its positive ways as possible you would be shocked that the third world countries who opens their gates on bitcoin will become one of the best countries we have ever seen.

Bitcoin is the first decentralized digital currency which came into existence in the year 2009. In simple terms, it refers to coins that can be sent online. It was invented by an online alias Satoshi Nakamato. I think that developing economies can benefit the most from bitcoins. Their policies should encourage the use of bitcoins.

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April 30, 2018, 05:03:24 PM
 #27

Since the bitcoin appeared payment methods, business, investment, .. ultra modern help the economy of the world around the world developed in the direction of modern. It can be said that bitcoin plays an important role in the economies of countries around the world.

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April 30, 2018, 05:05:52 PM
 #28

Bitcoin opens many doors of new markets, which would affect the economy of a country, the reason why there are some countries who don't like bitcoin because cryptocurrency controlled by no one and because they don't get taxes. But if governments open there eyes and use bitcoin in its positive ways as possible you would be shocked that the third world countries who opens their gates on bitcoin will become one of the best countries we have ever seen.
It is in the governments and politicians hands of how they convert the bitcoin useful for their country,already we know that one of the well developed country like Japan legalized the bitcoin usage and it is accept bitcoin as a form of payment so other countries also need to follow the same to get the benefits of bitcoin.

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May 01, 2018, 12:22:39 AM
 #29

Bitcoin has very less role in India and China economy. It needs 3,000,000,000,000 for gold price to go up by 10%.

Bitcoin it just in testing stage and may not survive the well established money system. Traders cartel is pushing bitcoin price up and down by 10%
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May 01, 2018, 03:19:26 AM
 #30

it is true, because the state that prohibits bitcoin, they do not get taxes, it's one of his problems, all can be set if the government firmly in terms of bitcoin.tapi one day maybe bitcoin is acceptable

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May 01, 2018, 04:48:23 AM
 #31

Bitcoin opens many doors of new markets, which would affect the economy of a country, the reason why there are some countries who don't like bitcoin because cryptocurrency controlled by no one and because they don't get taxes. But if governments open there eyes and use bitcoin in its positive ways as possible you would be shocked that the third world countries who opens their gates on bitcoin will become one of the best countries we have ever seen.just because some people don't pay their taxes when trading bitcoin and cryptocurrencies that doesn't mean bitcoin is affecting the economy of the whole country! these same people would never pay their taxes when they do other things so the economy didn't change because of them.
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May 01, 2018, 05:06:43 AM
 #32

Once regulated it would surely play vital role in economy because of the taxes that the government can collect. The additional revnue collected from bitcoin will domino effect to the governments projects that would help improve the economy and the lives of the people.

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May 01, 2018, 05:36:09 AM
 #33

In my views, bitcoin has contributed a lot to the economy of any nation like a sort of giving them livelihood where people can earn profit even without any investment like joining in signature bounty campaigns. It may changed the way people deal with their banking transactions or money transactions using bitcoins blockchain technology. Most importantly, people may have the option to make investments with bitcoin that could generate good profitability to the investors.

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May 01, 2018, 06:16:48 AM
 #34

Well, if you only add the Billions of people without Bank accounts to the financial system, then the whole world will see a difference. Most of these people are living hand to mouth, because they do not have Bank accounts and rely on physical hiding places to store their wealth. Yes, many might think that the odd $1 to $10 would not make a significant impact, but if you look at the numbers involved and how many people will be added onto the demand side, then those figures are staggering. 

Just think of the little informal shops and markets all over the world and all the revenue they generate daily.  Roll Eyes

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May 01, 2018, 06:25:07 AM
 #35

Bitcoin opens many doors of new markets, which would affect the economy of a country, the reason why there are some countries who don't like bitcoin because cryptocurrency controlled by no one and because they don't get taxes. But if governments open there eyes and use bitcoin in its positive ways as possible you would be shocked that the third world countries who opens their gates on bitcoin will become one of the best countries we have ever seen.
Do not teshte yourself with these thoughts. For the state, crypto currency is more of a headache than a useful thing. The state can use blockchein technology to safely store large databases and use some of its functions. However, the uncontrolled process of the circulation of the crypto currency and the possibility of uncontrolled withdrawal of funds outside the state, difficult control to collect the tax, a great investment risk brings and will bring great problems to each state.
Crypto currency gives freedom of financial relations and many opportunities only for citizens.

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May 01, 2018, 06:32:59 AM
 #36

Bitcoin opens many doors of new markets, which would affect the economy of a country, the reason why there are some countries who don't like bitcoin because cryptocurrency controlled by no one and because they don't get taxes. But if governments open there eyes and use bitcoin in its positive ways as possible you would be shocked that the third world countries who opens their gates on bitcoin will become one of the best countries we have ever seen.

Dont be exaggerating on this one,yeah we know how bitcoin moves and how beneficial this is,but lets not forget that governments only do what they think right for theyre country and people..its theyre obligations to push whats good for the people.
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May 01, 2018, 06:35:36 AM
 #37

bitcoin doesn't play a vital role in the economy, but it can. there is a difference between these two statements! bitcoin like anything else can be like a tool that some people use to improve their lives, economy,... and some others ignore it and don't use it for anything.
for example the adoption that happened in Japan led to a huge economical change because of all the jobs that were created and also the revenue of the merchants that was increased because of it.

Indeed. I would add on this one in little different way. I mean bitcoin is just part of the virtual economy which is getting partitioned with so called virtual world and real world barriers. I mean there are hundreds of ways to hide the assets in the form of bitcoin and government cant even track back anything. This one is important because if government do not track anything then they cant get the taxes filed for that much money, investment, assets etc. Thus the fiat goes only in one direction and takes out the economic balance from real world. This can happen on minor level but with the time the effect could be major one.







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May 01, 2018, 06:40:42 AM
 #38


I agree with this part. If the Vietnamese government allows the legalization of Bitcoin, it will become stronger. Bitcoin plays an important role in the economy.
Bitcoin plays an important role in the economy. It will become stronger every day.
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May 01, 2018, 06:41:41 AM
 #39

Bitcoin opens many doors of new markets, which would affect the economy of a country, the reason why there are some countries who don't like bitcoin because cryptocurrency controlled by no one and because they don't get taxes. But if governments open there eyes and use bitcoin in its positive ways as possible you would be shocked that the third world countries who opens their gates on bitcoin will become one of the best countries we have ever seen.


I think bitcoin can make more people more independent for those involved. but not to change the economy of a country. you should see a comparison scale in the community. of course, only a few percent of every population in a country is involved with crypto.

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May 01, 2018, 04:36:13 PM
 #40

Bitcoin is just the innovation which optimizes the traditional way of transferring the funds. It depends on the traders/users from the country that how they are using it for the amplification of their growth and so that the growth of the economy. We are still in the basic phase of development and there are infinite opportunities out there and thus I believe that governments should have a broad approach towards it.

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