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Author Topic: Bitcoins and a country's economy  (Read 135 times)
_jshsnts
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August 19, 2018, 04:19:48 AM
 #21

if the bitcoin rises, the economy increases, if the bitcoin shuts down the economy will stay the or worse it may drop by time to time. We can't deny bitcoin is introducing its value to the economy and a big help in exchanging goods. If this rises there's a chance to help people in this kind of investment.
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August 21, 2018, 03:38:42 PM
 #22

bitcoin is like two sides of a sword when you invest and a few months or even a year the price will increase the impact of economic progress in the country but if the opposite can cause a crisis
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August 21, 2018, 03:55:13 PM
 #23

Truly it can not have that much good effects on the country's economy.

1) Bitcoin is too small asset within a country due to the global circulation
2) Even with the 50% of people getting engaged in the BTC trade wont help the country economic changes as they are doing it out of the Country's economic circulation
3) With the time the trades are diluted very fast with the global bitcoin trading and investment
4) Not all the BTC earned money is retained within country's bank and not all of them are filed with the taxes.

It wont help much.



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AbuBhakar
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August 21, 2018, 04:39:16 PM
 #24

Truly it can not have that much good effects on the country's economy.

1) Bitcoin is too small asset within a country due to the global circulation
2) Even with the 50% of people getting engaged in the BTC trade wont help the country economic changes as they are doing it out of the Country's economic circulation
3) With the time the trades are diluted very fast with the global bitcoin trading and investment
4) Not all the BTC earned money is retained within country's bank and not all of them are filed with the taxes.

It wont help much.
Bitcoin / cryptocurrency are give an support to a lot of people in our country like gain an extra income and one of a good tool of investment with a high risk but there are big possibility that it may had  an huge return amount of profits. There is some good affect in our payment system economy but not that large.

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Vritesh
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August 21, 2018, 05:43:32 PM
 #25

Bitcoin can change the economy statement of any country. Any person having some capital in his hand can invest in it and can earn number of profits and even can make the money double. It has become the extra income source for many people and have helped them im different ways. Bitcoin can make economy stable of any country and can even save it from the crisis.

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August 21, 2018, 06:04:47 PM
 #26

I can explain it in a lot of ways but it would take time if I did compose one. So think of it this way, citizens earning new money may it be mining, trading, or even just plainly accepting Bitcoin as a mode of payment will help the economy of that country as the new money flowing into their citizens' bank accounts would cycle to their country. The more money flowing inside their country would simply mean that their citizens would be giving the government a lot of cash in way of tax payments through their capital gains, income tax, and also other taxes that they usually pay in their country. But the cycle does not end there, the government having more cash would simply mean the government has more budget for projects, subsidies, and enforcement which will also give jobs back to their citizens. It is really just a cycle on how one thing can really improve the country's economy as a whole.  

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timerland
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August 22, 2018, 09:30:54 PM
 #27

Although bitcoin is not that an "official" currency yet, one can say that a country having most of its citizen engaged with a trending, highly-anticipated financial support that should help the country's economic and trading aspect to boom and improve.

We say this, thought of this, but in reality it is hard to imagine how can bitcoins fuel and power up a country and its economical stabilization with almost all of its citizen engaged with it? First of all, it is not an official currency which will give problems regarding to the trading and cycle of currency within a country. And lastly, the management and utilization of it is also a problem.

So, how can we say that the bitcoins are a support to a country and its economy? Is it even possible? How will that happen?


I think that bitcoin may not be as useful to countries in which the economy is currently stable, compared to the countries which are currently experiencing an inflationary crisis of some sort, such as Turkey and Venezuela at the moment.

Bitcoin as an independent currency is not subject to any government debasement of the money supply, and thus, is able to retain its value much better than these national currencies.

I doubt that it would be able to "improve" the economy of a developed, stable economy per se on a macro scale, but bitcoin is certainly able to help out individuals in each economy on a micro scale, whether with storing of value, hedging against inflation, or international transactions.

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August 25, 2018, 01:48:48 AM
 #28


It doesn't help  the country's economy but it can support the citizen  who wants to store their riches on BTC. If you take a look at Venezuela's situation, people are now interested in BTC because they  now are trying to save their money before they'd be poor while having billions of cash on their vaults. Worse thing they might do right now is to create their own cryptocurrency which I think they were planing to.
I did not know of this at first, but your opinion has greatly increased my knowledge about bitcoins and a country with its citizens using it. Thank you very much!
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August 25, 2018, 01:54:04 AM
 #29

Although bitcoin is not that an "official" currency yet, one can say that a country having most of its citizen engaged with a trending, highly-anticipated financial support that should help the country's economic and trading aspect to boom and improve.

We say this, thought of this, but in reality it is hard to imagine how can bitcoins fuel and power up a country and its economical stabilization with almost all of its citizen engaged with it? First of all, it is not an official currency which will give problems regarding to the trading and cycle of currency within a country. And lastly, the management and utilization of it is also a problem.

So, how can we say that the bitcoins are a support to a country and its economy? Is it even possible? How will that happen?


I think that bitcoin may not be as useful to countries in which the economy is currently stable, compared to the countries which are currently experiencing an inflationary crisis of some sort, such as Turkey and Venezuela at the moment.

Bitcoin as an independent currency is not subject to any government debasement of the money supply, and thus, is able to retain its value much better than these national currencies.

I doubt that it would be able to "improve" the economy of a developed, stable economy per se on a macro scale, but bitcoin is certainly able to help out individuals in each economy on a micro scale, whether with storing of value, hedging against inflation, or international transactions.
Ok, I understand your point. So this meant bitcoins are only capable of helping individuals but not the nation itself? Thank you for your opinion!
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August 25, 2018, 02:09:46 AM
 #30


It doesn't help  the country's economy but it can support the citizen  who wants to store their riches on BTC. If you take a look at Venezuela's situation, people are now interested in BTC because they  now are trying to save their money before they'd be poor while having billions of cash on their vaults. Worse thing they might do right now is to create their own cryptocurrency which I think they were planing to.

perhaps the case of Venezuela must be a very valuable lesson, considering that the politics that occur in the world is very influential on the value of a country's currency, to anticipate the bad things that can happen to one currency, perhaps the Bitcoin currency can be the best choice, because it can be used in many countries and security is very guaranteed, many countries that do not support bitcoin must immediately follow the steps of developed countries that have legalized the use of cripto as a legitimate medium of exchange.
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August 25, 2018, 05:40:11 AM
 #31

Although bitcoin is not that an "official" currency yet, one can say that a country having most of its citizen engaged with a trending, highly-anticipated financial support that should help the country's economic and trading aspect to boom and improve.

We say this, thought of this, but in reality it is hard to imagine how can bitcoins fuel and power up a country and its economical stabilization with almost all of its citizen engaged with it? First of all, it is not an official currency which will give problems regarding to the trading and cycle of currency within a country. And lastly, the management and utilization of it is also a problem.

So, how can we say that the bitcoins are a support to a country and its economy? Is it even possible? How will that happen?


Bitcoin can support country economy because bitcoin is digital store of value. Its like gold and it can be as an asset. If peoples using bitcoin for their transaction, country economic can survive from high inflation because bitcoin is not like paper money that always printed by central banks

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