bitcoin vs world economy

[Webetcoins]

Hi everyone
I'm pretty new to all of this and thinking about buying some bitcoin.
I have some concerns about the world economy influence on bitcoin.
For example what if the US decides to put restrictions on bitcoin? will it have a chance to not fall apart completely?
do you think Bitcoin is strong enough at this point to be self-sustaining?
thanks for the help

I wonder why many people still think that Bitcoin is influenced by the world economy...from the beginning there Bitcoin is stand-alone, by simply relying on the community, Bitcoin succeeded in becoming big as it is today.
so, rising and falling its Bitcoin price is very reasonable, it denotes there are a buying and selling activity of Bitcoin...

The Bitcoin helps in making the people financially strong and can help any government in the betterment of economy of the country and is independent of country as any country can use Bitcoin if adopts. This adoption of Bitcoin helps a country not to waste the budget on the manufacturing of paper notes and will make a country able to save huge amount, this is the start of Bitcoin that helps a country to save money and the future investments will benefit too.

Let’s take an example or let’s suppose if a country adopts Bitcoin which is a valuable currency and another country has its own fiat currency which is less valuable than the Bitcoin, the yield or output of both the countries using their currencies will produce two different economy rates. The economy rate if valuable currency is more than that if less valuable currency which is a general saying too. So any valuable currency if adopts by any country of if the whole world adopts it then the economies will be better than that of economies from old and traditional way.

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[rocketbits]

Hi everyone

I'm pretty new to all of this and thinking about buying some bitcoin.

I have some concerns about the world economy influence on bitcoin.

For example what if the US decides to put restrictions on bitcoin? will it have a chance to not fall apart completely?

do you think Bitcoin is strong enough at this point to be self-sustaining?


thanks for the help

Now is a good time to buy bitcoin for long-term storage. I do not think that the states will be able to come to a common opinion about the crypto-currency. If they ban in one country, in another country they will be allowed. Bitcoin is gaining great strength and it will not be so easy to win.

Bitcoin contributes to those economies which are working or using Bitcoin as a source of economy and getting the benefit from Bitcoin up to great extent and that is why more countries are adopting Bitcoin and using it as a source of investment that make the economy better. Another major assumption has seen and observed by comparing the economy rate of both fiat and Bitcoin but result the most benefit from Bitcoin.

[Arbitao]

I think it comes down to decentralized, trustless money vs. fiat money that is controlled by some kind of authority, which you are forced to trust in. History has shown that every fiat currency fails. It either ends in hyperfinflation or gets replaced by another fiat currency before that happens. In either case, people who tried to build up savings get punished. I think it is only a matter of time until people switch to the better alternative, even the politicians themselves at some point. What is happening in Venezuela is also interesting in this context.

[Rrotess]

I do not think world economy and bitcoin are very connected. At least it is not effective in decline and rise. Bitcoin purchases may have an effect on the rise in that country, but I do not think it will lead to bitcoin if the market is in bad condition or in good condition.

And I think it depends also on the country. Bitcoin may have a big impact to our economy when there are big investors, advertisers, and a powerful countries joining it. As of now, we don't still feel the changes because of a sudden circumstances. But at least it is well known.

[srmecdes]

If bitcoin starts again to uptrend I will not relate with world economic situation:) I waited too much for uptrend.

[mia khalifa]

it seems that bitcoin can not affect the world's finances I see fiat that can still affect the world's financial condition because fiat more widely known and widely used around the world, so I think bitcoin still can not give effect to the world's finances.

[Supercrypt]

Many people doesn't understand one country economy, how can they understand global economy, or bitcoin? In this topic there are many comments that doesn't deserve to be here, people just talk random about what they feel about all situation, without any knowledge! Many didn't even try to put some effort in searching about subject they wish to talk about.
Global economy have it's own regulations, while blockchain different ones. How they affect each other is by value and support they have. Are they in war, probably yes. Bitcoin is changing the way people see the money, and what people think about it, how they earn and use it, and that disturbs traditional people.
There is one way, technology way, that answers the question what will happen in the end.

Yeah, and I guess that technology that way that a lot of people are already seeing as the main way that sets them out from the slavery the fiat system has enslaved them over the years and seeing a better means at which they can at least spend without a third party, make transaction without the government policies affecting anything and so on.

We can still take a cue from country economy even if we are to look at the bigger picture of the global economy as the case may be.

For instance, Zimbabweans saw the need to use bitcoin as a currency and it is more like one of the underdeveloped countries we can use as a case study as to real life usage of bitcoin which is the reason why till now, bitcoin still trades above the global market price here.

[zakariajaki]

I try to add an opinion about economic development and bitcoin or crypto comes from a combination of technological and economic developments to a saturating economic system, so it will not affect the existing world economy, will not disturb economic stability because the tool still uses the conventional currency, medium crypto is only a new form of value derived from a combination of technology that is touched into the world of economy, does not need much excessive worry, the world must open up only with the existence of such economic developments. so that intertwined harmony in social as well economic, may be useful and successful for us all

[Kate Beckett]

State bodies are trying to take control of everything that is somehow connected with money. However, the bitcoin that appeared not so long ago, which does not have a common emission center and is not subject to supervision by any official body, falls out of this structure. Now public authorities simply can not ignore the new "player". Therefore, they are trying in every possible way to take it under control and regulate the crypto currency process.

[naidray]

at the time of the G20 conference, a number of countries proposed to discuss cryptocurrency,
then, when the discussion begins, it turns out cryptocurrency is not so strong in the eyes of the world,
crypto market is only 1% of the total world economy

Well, let's see how the not so strong will end up eventually strong anyway. Yeah, we are not actually there yet and simply from the G20 conference, the whole thing was more like it should not even be perceived as a threat, at least not just yet as it is still more like a tiny piece of the global economy at large.

However, a lot of things over time will fuel its growth which would make it bigger than this, and the good thing about decentralization is that we call the shots and unless the government wants to switch off the internet completely, I am not sure how easy it would be for them to halt its growth.

[raven7886]

Hi everyone
I'm pretty new to all of this and thinking about buying some bitcoin.
I have some concerns about the world economy influence on bitcoin.
For example what if the US decides to put restrictions on bitcoin? will it have a chance to not fall apart completely?
do you think Bitcoin is strong enough at this point to be self-sustaining?
thanks for the help

I wonder why many people still think that Bitcoin is influenced by the world economy...from the beginning there Bitcoin is stand-alone, by simply relying on the community, Bitcoin succeeded in becoming big as it is today.
so, rising and falling its Bitcoin price is very reasonable, it denotes there are a buying and selling activity of Bitcoin...

Even while reading some of the post by some people, I still wonder why some people think a single country putting restrictions will affect everything. Firstly, bitcoin itself is global and decentralized and every country will definitely be having its own rules of how things will be operating and therefore, restriction from a single country will only affect that country.

There are traders everywhere and even if there is a little impact, it is going to end up being temporary. There is simply no effect that the global system will have on bitcoin except we ourselves let that happen.

[talenah kotang]

I think bitcoin will affect the world economy, so I think bitcoin is strong enough for the future.

[fullhdpixel]

bitcoin vs world economy is a difference function all together, bitcoin is simply known as crypto currency that is well design, as an asset as the way it be, bitcoin has come to assist world economy on the ecosystem
 

With the way evolution is going on with bitcoin, it is actually going to be funny for a lot of people to see how it would be a part of the global economy in the long run. We cannot say much on the impact it is eventually going to be having as that would be based on a huge level of mass adoption globally, but how that is going to play out will be best known with time.

However, the government will not have any other option than to accept it and benefit from it in the long run, so the OP worries may not actually come into fruition.

[weblouartisan]

Hi everyone

I'm pretty new to all of this and thinking about buying some bitcoin.

I have some concerns about the world economy influence on bitcoin.

For example what if the US decides to put restrictions on bitcoin? will it have a chance to not fall apart completely?

do you think Bitcoin is strong enough at this point to be self-sustaining?


thanks for the help

Bitcoins can help the world economy so they should not fought, japan today is using cryptocurrency and because of that, their people is living a very wealthy life just like so i hope that every country will legalize cryptocurrency in their place as well.

[Muspion]

Blockchain technology and its aggressive popularization through the rapid growth of prices for crypto currency can help the world's financial system solve its main problems, the shortage of long-term financing, and ensure the next global economic growth because I believe that bitcoin and the world economy are not in confrontation. In contrast, the growth of the crypto currency is useful for the world economy

[kimochidesh]

Yes, Bitcoin is self-sustaining enough. It has sustained itself so well from last 9 years. Hackers, manipulators, regulators government and many more have tried to bring it down, but it has always proved its worth. And I don’t think economy has any affect on Bitcoin, neither Bitcoin’s adoption is strong or huge enough to affect the world economy. so go ahead don’t worry about such restrictions.

[KennyR]

Yes, Bitcoin is self-sustaining enough. It has sustained itself so well from last 9 years. Hackers, manipulators, regulators government and many more have tried to bring it down, but it has always proved its worth. And I don’t think economy has any affect on Bitcoin, neither Bitcoin’s adoption is strong or huge enough to affect the world economy. so go ahead don’t worry about such restrictions.

When governments see growth over an industry or over a firm, it tries to make it as the government belonging. In some cases it is impossible and the same is happening with bitcoin. World economy at present doesn't have any impact because of bitcoin. But, in the falling years things will change when major adoption happen taking the growth beyond limits.

[Uno17]

Bitcoin has spreading its influence everyday, and as it increases its population it also changes the life of many so the direction of bitcoin is helping peoples life to a better status and situation that gives good impact also to the economy of the country when many people are living in a financially stable life. So it contributes good effect to our economy when everyone in the industry is successful.

[Kwadwogray]

If bitcoin has been able to go through half of 2018(apparently, most attacks at bitcoin have been launched this year), it is certainly gonna succeed. Mr. Andreas, the famous writer of "Internet of Money" puts it clearly that: "You can get your country out of bitcoin but you can't get bitcoin out of your country".

[Wipangga]

of course the bitcoin remains strong that we use to gain much greater profits, because bitcoin itself is also very easy to use in everything, especially investments and easy transactions get a lot of benefits.