HOW BITCOIN BENEFITS THE ECONOMY?

[ucingucingan]

Unlimited amount and distance transactions are one of the advantages of using Bitcoi, transaction costs are very cheap and even close to zero, this is certainly a very profitable thing if you want to send large amounts of money abroad that are very far away

[shawn995]

the greatest factor why numerous nations forbid the utilization of bitcoin is a direct result of the exceptionally fluctuating bitcoin cost, consequently the legislature is extremely apprehensive that this bitcoin vacillation will influence the economy in that nation. while bitcoin has the best favorable position for the economy. fiat cash has diminished in esteem or in the economy can be called expansion, while the bitcoin esteem the more drawn out the higher. with the order of bitcoin the nation over, there will be no imposing business model on the utilization of cash and installments crosswise over nations that can be coordinated no esteem is squandered.

[so98nn]

The government in most countries have decided to ban Bitcoin and cryptocurrency as a whole. I begin to wonder why the government for these countries have taken such an initiative. Any idea on the benefits bitcoin offers to the economy? Help me convince my government to accept Bitcoin.

Saying that most countries have decided to ban bitcoin is a blatant exaggeration. Even in some of the countries where it is banned like India, people are protesting against the unreasonable move. The problem with some countries is that of tax evasion, for example in India's case the cryptocurrency boom of 2017 saw a huge amount of people gambling on bitcoin, as a result a lot of scams were setup and because it is unregulated the government had to take some action against it.

I think this censure is unlikely to hold in the future, as countries will realize that cryptos are something they just have to learn to embrace to fully utilize their benifit, even though they might seem scary at first.

[ngano ba]

Bitcoin has proven already that it will help those people who are jobless ,and want to join bitcoin for a living ,so if this people have earning so they can sustain the everyday financies ,so this peopke can have great effect to the economy,or can either help an econony of their country.

[jrrsparkles]

The government in most countries have decided to ban Bitcoin and cryptocurrency as a whole. I begin to wonder why the government for these countries have taken such an initiative. Any idea on the benefits bitcoin offers to the economy? Help me convince my government to accept Bitcoin.

In my knowledge most of the countries still don't know how to regulate the crypto currency usage in their country so the status is still usable in their country but neither legal nor illegal.And some countries afraid that it can be used for illegal things so they announced that they banned the bitcoin from their country but no countries can stop bitcoin usage.Maybe they are against it because it is against the banking system which gives much revenue to the governments so they don't want to loe that revenue.

[Jaycee99]

The government in most countries have decided to ban Bitcoin and cryptocurrency as a whole. I begin to wonder why the government for these countries have taken such an initiative. Any idea on the benefits bitcoin offers to the economy? Help me convince my government to accept Bitcoin.

Here For me I will create a list that I see that will I thought would be helpful. Here it is,

1. Bitcoin would attract people's interest and they could be open minded to the world of business marketing.

A fact to day if your interested in bitcoin that you would live to earn you have to understand things about the numbers and in relation to bitcoin.

2. People would get a chance to invest on a project that is out of reach in there country that can only be use to pay with crypto.

3. If they will understand everything about bitcoin and othet cryptocurrency especially the business marketing they will earn.

[billionaireSHS]

Bitcoin benefits the economy through the investors because with the help of the investors, bitcoin price will rise and also in line with this the economy will also increase. So in other words , the investment of the investors are connected to the growth of the economy because bitcoin price will also increase.

[Chrisjay29]

Bitcoin benefit a country economy in a way of entering mpney in a country. They said the more mpney will come in a country the more economy grow. Thats why many country making more tourist attraction so people will come

[victoryana]

bitcoin has a positive impact on the world economy thanks to the investment of many companies investing in the ico program and these programs will bring money that investors have bought coin to use to release the new product of the production plan

[Comfort1]

There are a whole lot bitcoin offers to the country. People can invest in bitcoin and it will be a great source of money for the people personally. I think introduction of taxes or revenue paid on bitcoin transactions will help the countries have insight and enjoy bitcoin the more.

[Athanasios Motok]

The government in most countries have decided to ban Bitcoin and cryptocurrency as a whole. I begin to wonder why the government for these countries have taken such an initiative. Any idea on the benefits bitcoin offers to the economy? Help me convince my government to accept Bitcoin.

Any economy should circulate money. if there is no money or profit from money in the economy, it is not interesting to the economy as a whole. As for the citizens who live in this country, it is interesting to them, because bitcoin allows you to not pay taxes for storage. That's it for this and there is a struggle between States and bitcoin.

[Betheng10]

I do think it could lower inflation.

If bitcoin is used as a currency to do transactions, it means there is another way to purchase a product, depending if both parties agreed of course.

Products and goods will be purchased more, meaning demand will raise too.

[dams87]

Most governments prohibit bitcoin because bitcoin is very difficult to control, bitcoin has its own path and the most influential is the unlikely bitcoin for taxes and the number of negative news about bitcoin out there.

[Jimitieu]

The government in most countries have decided to ban Bitcoin and cryptocurrency as a whole. I begin to wonder why the government for these countries have taken such an initiative. Any idea on the benefits bitcoin offers to the economy? Help me convince my government to accept Bitcoin.

Bitcoin money transfers are relatively low cost compared to international bank transfers. Sending money abroad using Bitcoin (or other Cryptocurrency) can be done without using any banking system.
Bitcoin can not be created or dumped by national governments and is therefore not affected by inflation. Citizens of undeveloped economies can buy bitcoins to protect their money against the devaluation of the national currency. The same thing applies to USD, GBP and Euro.

[pobeditelvezde]

Wow, you are going to convince your government to accept bitcoin it is a great intention and I am wondering how are you going to do that? Are you a journalist or a public person or in your country you may communicate with your government freely? For example, in my country the officials do not listen to inhabitants and actually there are not working mechanisms which can affect on the goverment.
What about the benefits of bitcoin, you would better to read special articles which professionally explain you all the benefits of crypto technologies. By the way keep in mind, once the officials get to know that systems which are build by using crypto technologies are clear, safe and tracked then most part of them lose their interest because it is dangerous for them as everybody can control and examine their work. Anyway I am sure that crypto technologies will be used in many countries more widely because it is a progress which is impossible to stop. I would compare crypto technologies with electro cars which re replacing obsolete petrol cars.

[just_Alice]

The government in most countries have decided to ban Bitcoin and cryptocurrency as a whole. I begin to wonder why the government for these countries have taken such an initiative. Any idea on the benefits bitcoin offers to the economy? Help me convince my government to accept Bitcoin.

Where did you take that data from? As far as I know Bitcoin status is permissive in most of the countries (majority of them are counties with good economical situation, EU countries and US). In most of the developing and newly industrialized countries Bitcoin legal status is contentious (e.g. India, Indonesia, Georgia). And there are actually only few countries that consider Bitcoin as illegal, like Algeria, Bolivia, Ecuador, Nepal and some others. Now, there's a direct correlation between the economy level in a certain country and BTC status there. As you can see the least developed countries banned Bitcoin, which is quite explicable, as cryptocurrencies may undermine country's economy. If citizens prefer BTC over national currency (and they will, because in this case they'll have more freedom) the price of it will fall, eventually crushing the country's economy.  

[Dart18]

The government in most countries have decided to ban Bitcoin and cryptocurrency as a whole. I begin to wonder why the government for these countries have taken such an initiative.

It is too private. Some countries do not want their government employee to use this as a means for money laundering which will be hard to trace. They should always be transparent. If bitcoin is known to them it will be a problem and they could rob money easily hiding its traces.

Any idea on the benefits bitcoin offers to the economy? Help me convince my government to accept Bitcoin.

Convince your government? You might want to create something where they will sign it for agreement. Your countrymen will be the one helping you with this because the benefits will be most likely to yours.
Please not a rebellion. 

Benefit will be privacy for users and also fast and secured transactions which is mostly needed now. This new world sucks, everything is live now to the public. Cameras and hackers everywhere. Bitcoin can keep us safe.

[hahay]

The government in most countries have decided to ban Bitcoin and cryptocurrency as a whole. I begin to wonder why the government for these countries have taken such an initiative. Any idea on the benefits bitcoin offers to the economy? Help me convince my government to accept Bitcoin.

Bitcoin has an indirect role in the economic growth of a country, that is what the government does not realize. I am someone who is not classified as having a lot of money, but with the existence of bitcoin I have felt the great benefits of bitcoin. With bitcoin I can earn a good income and I have also been able to improve the economy of the family, this has not only happened to me because I have seen many people who have economically increased from bitcoin. Indirectly this has prospered the people in every country and of course the country's economy will increase and improve.

[Escf4]

One thimg bitcoin benefit the economy is to provide income and other income to the people especially to the jobless people, because if this people will join the bitcoin and crypto activities , and work hard and have patience they will have rewards and turn it to income , which really benefits the economy, because people with no income can add problems to the economy ,so bitcoin can really as of help.

[Stedsm]

Those who are banning or have already banned Bitcoins in their countries are foolish in my views. I think the limited nature of Bitcoins and that its speed and transparency over transactions through blockchain is one of the main reasons these governments should understand currently. At a very wide pace, Bitcoin helps any country's economy, not currently, but will surely help them at a large pace once it gets adopted globally as a mode of payment because due to its limited number, it'll rise in the demand so high that those with the maximum amount of Bitcoins will be able to sell them at premium rates, gaining a lot more fiat for their country in the end. Many countries are also coming up with their own crypto, so as to get more Bitcoins by attracting people to buy their tokens for BTC itself - a great strategy to pull a lot of BTC from many different countries to one.