HOW BITCOIN BENEFITS THE ECONOMY?

[BitcoinPanther]

I believe bitcoin benefits the economy by simply removing the possibility of fraud.  We all know that blockchain transaction is transparent.  We can see the in and outs of transaction especially in the finance system.  Every transaction is open to public and if practiced, corruption in the government will be minimal if not totally gone. 

[BagzMM]

I think bitcoin  benefits the economy though having jobs to the people. Like using the blockchain technology with a transparent transactions.

[wormgummy019]

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 can reduce the number of jobless or unemployed people from your country in that way it can help the economy. It can also reduce poverty because people can make money in easiest way. If you really want to convince your government then you need to tell them the benefits that your country can get by simply accepting and adopting bitcoin.

[blockman]

Banning bitcoin and other cryptocurrencies is the decision they made because they don't understand the possible benefit that it can contribute to the economy. It's still too early to see that every country will start adopting bitcoin. We just can't please each of them, some will do adopt it and will understand the benefits that it can bring to them but some won't really understand and is unlikely to be open with anything that regards to bitcoin/cryptocurrencies.

[kokobaba880]

Bitcoin not directly affect economy but it changes the whole scene of economy and for now the best thing is if you keep crypto with you for future now the investors have invested much of their capital in crypto, For economy it is affecting the population life standard and crypto is making people lives better.

[patarfweefwee]

In my experience, bitcoin and crypto currency in general can help the economy by pumping in more revenues in the market by providing more liquid assets to people thereby maKing them more likely to spend it in their country and paying taxes in the process. It is as simple as that! I just hope your government can see it that way.

[YOSHIE]

There are some countries regulations against Bitcoin do not forbid and also do not tell, there are countries that make it illegal, for the economy I think Bitcoin is very profitable for its users only depends on the way the government responds positively to its people, I think bitcoinfor now the government is still positive.

[knightmairesaint]

Bitcoin not directly affect economy but it changes the whole scene of economy and for now the best thing is if you keep crypto with you for future now the investors have invested much of their capital in crypto, For economy it is affecting the population life standard and crypto is making people lives better.

It is not all crypto enthusiasts get their lives better because not all are successful in using crypto as a tool. Not all can do the trading very well as well as managing their investments. Also, bitcoin may not directly affect the economy but what about those who are unemployed because they decided to stick with crypto earning. Of course they would count as unemployed in the statistics right?

[tranquangvinh]

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.

I think you need to learn more about bitcoin and cryptocurrency because bitcoin is a decentralized platform, no one can not control it even your goverment. Many bad organizations will take advantage of this and they may harm your national economy. Your goverment can be right when he have banned bitcoin
 

[jeremy84]

I think it will not help. the state doesn't like chaos and anonymity. The state needs such tools with which it can extract profits and benefits by managing them. Bitcoin doesn't obey the state, and therefore, it's not a fact that bitcoin will bring something good to the state. On the other hand, if the state, for example, buys a lot of Bitcoin with state money now, it will most likely earn on it. Since over time, Bitcoin will cost much more.

[d1ceplayer]

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 is good, but I’m. Sorry to say that most of the things that it has to offer are really bad when compared to the good it can offer. Bitcoin is giving more power to the dark web, that’s why a lot of people are against cryptocurrency. Some hackers can now block your computer and request you make payment in Bitcoin before its unlocked. Bitcoin is also used in money laundering and a lot of people the price is based on speculation.

[eaLiTy]

Bitcoin has brought a revolutionary change in the history of finance and now  many countries have accepted bitcoin as a crypto currency , bitcoin has the potential to bring financial stability and financial freedom to all its users all over the world that can mutually benefit everyone, since the market can create a new stream of employment and business rounding the market, the countries can make use of it and and create new job streams thereby reducing  unemployment . The world is changing rapidly and the job that exist in the past may not be there in the market in future, so adapt and change to the new market opportunities.

[cetald]

Bitcoin has brought a revolutionary change in the history of finances and now  many countries have accepted bitcoin as a crypto currency , bitcoins has the potential to bring financial stability and financial freedom to all its users all the world equally which can benefit by eradicating the main issues of the world such as unemployment as people are getting involved in bitcoin trading which helps to earn profits.

I doubt that countries accept bitcoin so that all people have equal financial opportunities. Governments of all countries are ruled by rich and powerful people. And these people do not want financial equality.

[Natalim]

It will help the remittance, in our country, there's billion of dollars yearly remittance from OFW and some of them pays a big amount of charges sending money at home. Bitcoin will solve their problem and transactions will be faster. It's just one of the problem that will be solve and I'm sure there's a lot to be solve once people will start using bitcoin.

[Lumi3004]

Every country has rules of the game, whether it's the government itself or about cryptocurrency like Bitcoin, the state can be said to have laws in dealing with every problem many elements must be involved in taking policy on Bitcoin, patience may be one momentlater bitcoin will become a source of economy for your country.

[jonaire99]

Government need to legalize the use of bitcoin first so the business sector will start accepting it as legal tender. If majority of the people use bitcoin in their transactions, many merchants will eventually use it in their business. The economy will be benefitted from every bitcoin transactions especially if the price of the coin is surging. But government will surely impose regulation first before legalizing it. Bitcoin transactions will also not exempt from taxation unless there isca law that all bitcoin trabsactions is tax-exempt.

[yusupjatigumilar]

if the question arises what economic benefits are generated from bitcoin? then the answer is the same as other investment commodities such as gold, stocks and others that distinguish it only from the side of the form that is virtuous (non-physical) and the price movement is very significant both rising or falling, maybe that is the reason the government banned bitcoin, too risky if we cannot take advantage of the best opportunities

[0t3p0t]

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 cannot be affected by economic crisis as it is a community based decentralized asset so I think local currency can be backed up with cryptocurrency most especially Bitcoin. Bitcoin is fast, convenient and  secure that is how it can help economies to mentain positive outcome to almost any countries that are going to adopt Bitcoin. Here in my country Bitcoin community is increasing every single day and I know it has good result to our economy as businesses, merchants and enthusiasts are contributing tax due to the regulation of local exchanges by central bank.

[Ranly123]

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.

We can't convince the government through sharing our thoughts here in the forum but it good to share our ideas on how to help cryptocurrency be accepted by the community. Even without the help of the government, I know people with enough knowledge in cryptocurrency will continue to find ways to use it.

[jjjfff]

Right now Bitcoin has low US dollar volume compared to other equities. I think soon when BTC becomes widespread in everyday business it'll become a significant part of the economy IMO.