Does Bitcoin affect world trade?

[Anewor]

I just do think it might in some ways. I do believe that bitcoin can certainly create some impact to the economy which made me think that it could also create an impact to the  world trade. Yet  because world trade had a big scope so I think since it is world wide and there are so many things to trade I guess the impact would be small or not so noticeable.

[richardsNY]

Bitcoin influenced the entire world economy in general. This influence can be called ideological, because bitcoin has shown an alternative to traditional financial markets.

Can you name up a few things in the world economy that Bitcoin had a role of importance in? I honestly don't see anything in the legacy economy that Bitcoin has contributed to aside from unleashing a blockchain craze. The only change that might be related to Bitcoin (timing could just as well be pure coincidence) is that banks are trying to offer better and cheaper products, and more importantly, be more client focused. Bitcoin is great, don't get me wrong, but people like to exaggerate and hype up Bitcoin's current impact, which we have to look through in an unbiased way. It's not a miraculous world problem solver people often think it is....

[basty03]

Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?

I think bitcoin don't have any affect to world trade because bitcoin is decentralized so bitcoin is only affect a crypto market not world trade. World trade is for centralized system so there's no connection in crypto.

[G2z_Riya]

With the inflow of fiat towards cryptocurrency the economy gets a very small change, as we're very small in number when compared to the global fiat users. Maybe this could change when the usage keeps growing, and now some African countries making it for their trading needs seems to be the start. They use it, because they need to carry bags and bags of currency as their money is completely valueless. Bitcoin provides with the ease of accessing.

[bennie4]

Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?

I believe that bitcoin adjustment does not have much impact on world trade, you can see that with a $ 300 billion market capitalization, bitcoin is nothing compared to stocks, gold or real estate. Therefore, I believe that all fluctuations in bitcoin prices will not affect the world market.

You can see that the crypto market is in a period of crisis when bitcoin and altcoin prices are constantly falling. Therefore, I believe we should consider whether to continue investing in bitcoin.

[ejandjm18]

I think, Bitcoin does not affect world trade because bitcoin is just a crypto currency. Therefore, bitcoin only affect the crypto market and it has no connection on world trade market.

[Dudeperfect]

To be honest, Bitcoin is not yet legalised in most of the countries and hence there is a legal issue in using Bitcoin for the trades between the two governments. However, on the individual level, there is a huge user base using it even on the international level including me but we still have a long way to go to inculcate the habit of using Bitcoin and see the impact of it on a global level.

[katrimans]

Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?

Lol, did you just ask whether countries come together to trade on Bitcoin? Lmao that’s quite a funny question for anyone to ask. Countries can’t be coming together to trade on Bitcoin. They don’t discuss anything about Bitcoin in the world market, it is not owned by any country.

Bitcoin is quite different and is open to the world. They don’t need to come together to buy or whatever… citizens, most especially investors that are interested in it are those that buys it direct.

[bohr]

Bitcoin influenced the entire world economy in general. This influence can be called ideological, because bitcoin has shown an alternative to traditional financial markets.

I will agree that the impact of bitcoin at the present has been more idealogical than practical but still it is a big influence, before bitcoin the only way I thought it was possible to get out of the system instituted by banks was to buy gold and silver and now we have a system that allow us to exchange money all over the world with no problem and they cannot touch our money.

[Kellyrobinson86]

According to me, all countries. There are countries that accept bitcoins And there are also countries that forbid bitcoin or cryptocurrency in general. So how can trade transactions between the two countries, if the two countries are legitimate that may be but the rest I think is impossible.

[Angna27]

I think there is connection as well as effect of bitcoin to world trade, there is trading that is happening between countries and their connection  which involveds money and other things may afftect the system of bitcoin and the world trade, when bitcoin is up and when bitcoin is down.

[Mhd-Bobbi]

Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?

Of course there is the role of Bitcoin in international trade. Because there are several countries that work together to make shares in the country. If trade between countries is interrelated, there will be cooperation between the two countries.

[Horace_Damico]

Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?

Of course there is the role of Bitcoin in international trade. Because there are several countries that work together to make shares in the country. If trade between countries is interrelated, there will be cooperation between the two countries.

At this point though, it isn't happening. The dollar is still the unit of exchange for most countries (but I don't think it will be for long). Russia and China are already moving away from it.

Bitcoin's market cap isn't big enough to be a factor in world trade. It's only about $41 billion, whereas physical money is $31 trillion. So there's plenty of room to grow. This means that it cannot influence world trade, but it might be able to in the future. It is a useful enough tool, so more and more countries will want to start using it.

[Dr.Osh]

I think there is connection as well as effect of bitcoin to world trade, there is trading that is happening between countries and their connection  which involveds money and other things may afftect the system of bitcoin and the world trade, when bitcoin is up and when bitcoin is down.

of course it will affect, even since the bitcoin prices are pumping, and dumped very quickly, many people are starting to trade for profit, especially now that many have proven that bitcoin is able to increase the income of those who use it.

[Coin-1]

Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?

No, I haven't heard bitcoin being involved and traded by two countries. But maybe we can see that in the future though. Take for example Japan or South Korea, they have the biggest market so far so its possible that they can used bitcoin to do international trade, specially along the Asian region. Imagine that kind of scenario, I mean what will be the price of bitcoin that time? Will it bring this kind of trade significant impact of the price? Remains to be seen.

Theoretically, such trading is realizable. The first factor is that the price of Bitcoin is determined by the number of the world's large crypto exchange markets, so Bitcoin is highly demanded and worth a lot. The second factor is that Bitcoin isn't backed by the one certain country, so the world legal status of BTC is neutral, and no any government can denominate or make it cheaper. I think that the trading between countries with using some reliable crypto currencies will be in the future, and Bitcoin will affect world trade.

[shawn995]

No, I haven't heard bitcoin being included and exchanged by two nations. Yet, perhaps we can see that later on however. Take for instance South Korea, they have the greatest market so far so its conceivable that they can utilized bitcoin to do universal exchange, extraordinarily along the Asian area. Envision that sort of situation, I mean what will be the cost of bitcoin that time? Will it bring this sort of exchange critical effect of the cost.

[Mhd-Bobbi]

Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?

Of course there is the role of Bitcoin in international trade. Because there are several countries that work together to make shares in the country. If trade between countries is interrelated, there will be cooperation between the two countries.

At this point though, it isn't happening. The dollar is still the unit of exchange for most countries (but I don't think it will be for long). Russia and China are already moving away from it.

Bitcoin's market cap isn't big enough to be a factor in world trade. It's only about $41 billion, whereas physical money is $31 trillion. So there's plenty of room to grow. This means that it cannot influence world trade, but it might be able to in the future. It is a useful enough tool, so more and more countries will want to start using it.

Why do you say Russia and China have moved away from him.
While Saxo Bank said that if Russia and China start implementing Bitcoin as a currency other than the US dollar, then the price of Bitcoin can be ascertained to triple from 700 US dollars / Bitcoin to 2,100 US dollars / Bitcoin.

[icreative998]

Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?

I think that's happening right now, lots of commercials, bitcoin merchandise exchanges to evade taxes or to avoid being spotted by the government. But it does not happen much because of the risk and newness. bitcoin makes people not really believe in it and later I think it will happen more

[Henry Sy]

Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?

On the off chance that Bitcoin progress toward becoming sanctioned and accessible to all organizations and perceived obviously by every nation no reason behind why Bitcoin doesn't help the economy in each nation through nearby exchange and global exchange.

[Tigorss]

Of course.

Bitcoin is intended to be used worldwide, and it does not take into account borders. It would definitely save everyone time and money if BTC was used to settle trade balances, since bitcoin is a truly global currency. Of course, it does need two parties mutually agreeing to the terms of accepting bitcoin as a payment, and right now adoption rates are probably too low for this to happen on a consistent basis.

But definitely don't discount the idea of Bitcoin being used worldwide to settle trades in the future, after all, it's one of the things that BTC was built for in the beginning.

Not only that, there are also many companies that are investing in Bitcoin. Of course the entry of large capital in a class of agencies will drive prices.