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Question: Could bitcoin do physical products?
No - 7 (70%)
Yes - 3 (30%)
Total Voters: 10

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Author Topic: Bitcoin can decrease economic development  (Read 1743 times)
louie69
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September 06, 2018, 12:55:55 PM
 #21

Well, in my opinion those people that are related to farming, fishing and other agricultural works would probably continue to do their work and perhaps if they had earn knowledge about cryptocurrency, then that would be their second priority. Their main livelihood remains to be the same as always and cryptocurrency will be considered as the other source of income.

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September 06, 2018, 01:08:20 PM
Merited by ss890 (2)
 #22

To be honest, I panicked reading your post, because you are right, it is quite dangerous if the farmers stop working because they turn into bitcoin traders and leave their farms and make food and fruits less and less because there are no farmers who want to replant the plants,
and I hope that this can be balanced, farmers still want to plant and not focus on bitcoin trading.

Do you really think that all the farmers will sell their farms and buy mining hardware or cryptocurrencies? Grin
Really???This is ridiculous.Crypto mining isn't always profitable,crypto trading requires trading skills that are totally different than the skills,which are necessary for a good farmer.Farmers will stay farmers,but it would have been great,if they sell their goods for cryptocurrency payments.

Well, if you explore the altcoin sections you will see that we have quite a few projects with agriculture on the blockchain.
Now, if you were gullible enough like others and trust this scams you would have a totally different view of this  Grin

There will always be some part of the community who will have to do the hardworking jobs and then earn the money.

Dont forget that global population is more than 700 billions and crypto currencies are not sufficient enough to fulfil all of them.

Ups I knew something was wrong when I come back from my small trip...
I ended up on the wrong planet!

You are basically saying that farmers should stay as farmers and fishermen should stay as fishermen. Which means you don't want them to move up in this world, but I never see how people who came from the bottom and had an imrprovement of lifestyle can disrupt the whole economy of the country, simply because we know that one way or another someone will replace them to satisfy the demand that was left out by them. Additionally governments have projects and laws to cover with that kind of changes and they won't let their economy down because one if their farmers have move up into their ranks.

Sorry but right now it's you who is having a wrong opinion about farmers.

My family is basically a farmer family (except for the black sheep who is typing this post Grin) and we all have finished college and we don't need improvement in lifestyle  
We even have wi-fi coverage in the pig barns, and I'm not joking about this, it's needed to track what is going for sale when we scan the chips.

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September 06, 2018, 01:30:00 PM
 #23

To be honest, I panicked reading your post, because you are right, it is quite dangerous if the farmers stop working because they turn into bitcoin traders and leave their farms and make food and fruits less and less because there are no farmers who want to replant the plants,
and I hope that this can be balanced, farmers still want to plant and not focus on bitcoin trading.
I think you have a short thought, how do farmers stop working so they leave their jobs by changing their profession as a bitcoin trader?
How fast do farmers know the world of bitcoin? they won't think of moving to a bitcoin trader, because in the fields there is no internet access point, I think your answer is very funny!

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September 06, 2018, 01:32:37 PM
 #24

Being worried about this new era. We are bound to digital worlds and forgotting the needs of our physical world.

If our farmers, fishermen, and other workmans that focus on agriculture would know how to gain bitcoin, will they still do their profession? However to some country, this is not a profession but a job to earn money. And if they learn about bitcoin, will they be able to continue earning from their hardworking jobs?.

What can you say about this?

Just a small example, my friend is smart in the world of technology but does not want to enter crypto because he is very scared of the various negative speculations out there between fear and between not understanding how to use anything in operating it, only the latest people are very passionate about developing this technology , a farmer or fisherman will not leave their profession which has been very promising in a few years, if they enter only for crypto, I hope it takes a lot of time for them to adapt and enjoy the benefits they get, don't worry, in the real world will always develop without us knowing that more work is built, mutually beneficial but in accordance with their respective fields to build a better individual economy.

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September 06, 2018, 02:41:31 PM
 #25

I think they will continue to do their profession as farmers and fishermen because bitcoin is not something that drains your time throughout the day, so I don't need to worry.
indeed bitcoin does not completely reduce the economy in every country, because the economy in each country is sometimes different and not the same. so we have to think positively that bitcoin won't completely change the economy.

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September 06, 2018, 02:52:32 PM
 #26

On the contrary, I think that bitcoin can help increase the economy of a country. Even if farmers, fishermen and other workers get into bitcoin, bitcoin and other cryptocurrencies can help with a country's economy, especially third world countries.
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September 07, 2018, 12:00:07 AM
 #27

On the contrary, I think that bitcoin can help increase the economy of a country. Even if farmers, fishermen and other workers get into bitcoin, bitcoin and other cryptocurrencies can help with a country's economy, especially third world countries.
To be honest, I panicked reading your post, because you are right, it is quite dangerous if the farmers stop working because they turn into bitcoin traders and leave their farms and make food and fruits less and less because there are no farmers who want to replant the plants,
and I hope that this can be balanced, farmers still want to plant and not focus on bitcoin trading.
I think you have a short thought, how do farmers stop working so they leave their jobs by changing their profession as a bitcoin trader?
How fast do farmers know the world of bitcoin? they won't think of moving to a bitcoin trader, because in the fields there is no internet access point, I think your answer is very funny!

To be honest, I panicked reading your post, because you are right, it is quite dangerous if the farmers stop working because they turn into bitcoin traders and leave their farms and make food and fruits less and less because there are no farmers who want to replant the plants,
and I hope that this can be balanced, farmers still want to plant and not focus on bitcoin trading.

Do you really think that all the farmers will sell their farms and buy mining hardware or cryptocurrencies? Grin
Really???This is ridiculous.Crypto mining isn't always profitable,crypto trading requires trading skills that are totally different than the skills,which are necessary for a good farmer.Farmers will stay farmers,but it would have been great,if they sell their goods for cryptocurrency payments.

Well, if you explore the altcoin sections you will see that we have quite a few projects with agriculture on the blockchain.
Now, if you were gullible enough like others and trust this scams you would have a totally different view of this  Grin

There will always be some part of the community who will have to do the hardworking jobs and then earn the money.

Dont forget that global population is more than 700 billions and crypto currencies are not sufficient enough to fulfil all of them.

Ups I knew something was wrong when I come back from my small trip...
I end up on the wrong planet!

You are basically saying that farmers should stay as farmers and fishermen should stay as fishermen. Which means you don't want them to move up in this world, but I never see how people who came from the bottom and had an imrprovement of lifestyle can disrupt the whole economy of the country, simply because we know that one way or another someone will replace them to satisfy the demand that was left out by them. Additionally governments have projects and laws to cover with that kind of changes and they won't let their economy down because one if their farmers have move up into their ranks.

Sorry but right now it's you who is having a wrong opinion about farmers.

My family is basically a farmer family (except for the black sheep who is typing this post Grin) and we all have finished college and we don't need improvement in lifestyle 
We even have wi-fi coverage in the pig barns, and I'm not joking about this, it's needed to track what is going for sale when we scan the chips.


I'm not being against the bitcoin trading, I do support this.

Is there any young farmers, fishermen now a days? Those who are staying in this profession, most of them are adults. Our generation outgrows to digital world. Obviously, who ate digits? 😂 Balance is what we need of.

Yes it is absolutely true that bitcoin does increase economic development. However, there is always negative effect of it and that is what we must prepare of. Not tomorrow but today. Tomorrow no one will be wanted to plant anymore, and to catch fish patiently, unless they teach robots to do so. Then the people of the next era become lazy as sleeping bee.
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September 08, 2018, 08:01:28 PM
 #28

Do you mean the economic development of each country? I think it will help the 3rd countries but most 1st countries will be totally against it just look at China and USA has some kind of restrictions against crypto and Bitcoin itself; and sadly for 2018 the price of Bitcoin has gone down so far that I think we will not see any big bull run even when the year ends. It's saddening how these powers can make something move so slow and if Bitcoin is slowed down, the same goes for everything in crypto.
The question the OP is not even asking himself is that, are the bitcoins he is claiming if everyone is pursuing to enrich themselves will create decrease in economic development going to be gotten for free. Certainly not!

Whoever is purchasing bitcoin will definitely not be relying on it to enrich themselves and there would always be need for transfer of currencies between hands for the value of what you are purchasing. Hence, one way or the other, you will still have to work for what you are getting and as long as working is still inevitable, decrease in economic development is not something we need to be worrying about.

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September 08, 2018, 08:40:03 PM
 #29

Currently the average person thinks about investments and trading when it comes to Bitcoin, but eventually Bitcoin will become so normal as being another form of money, that the investment and trading aspect won't differ from how professional parties (and to a lower extent retail traders) trade EUR/USD/CNY/JPY, etc. The average person has not much with forex trading, and will no longer care about Bitcoin in the same way when we reach the aforementioned stage.

Bitcoin is a very simple protocol meant to do just a couple of things extremely well, and that's directly what makes it so powerful. Instead of decreasing economical development, it will stimulate economical development with how you are dealing with a non deflationary means of exchange that doesn't abide by any laws set up by governments. Governments are actively holding back economical growth, and that in more ways than just one. Bitcoin breaks that.

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September 08, 2018, 10:01:38 PM
 #30

On the contrary, I think that bitcoin can help increase the economy of a country. Even if farmers, fishermen and other workers get into bitcoin, bitcoin and other cryptocurrencies can help with a country's economy, especially third world countries.

bitcoin is able to help our economy at this time. but all that must require our hard work in plunging into the world of bitcoin. so we are not involved in bitcoin, we don't feel free, and we don't work hard, instead all that is the opposite. we need hard work, patience and perseverance.

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September 08, 2018, 10:20:06 PM
 #31

Currently the average person thinks about investments and trading when it comes to Bitcoin, but eventually Bitcoin will become so normal as being another form of money, that the investment and trading aspect won't differ from how professional parties (and to a lower extent retail traders) trade EUR/USD/CNY/JPY, etc. The average person has not much with forex trading, and will no longer care about Bitcoin in the same way when we reach the aforementioned stage.

Our community has to develop easy to use and reliable software before that happens. Personally, I doubt that ordinary people are going to use on-chain transactions. Second layer scaling solutions are better since they offer instant and cheap transaction but they still require the user to open and close a channel on-chain. That's why some think that more layers will be built on top of the Lightning Network and used by an average Joe.

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September 08, 2018, 11:20:41 PM
 #32

To be honest, I panicked reading your post, because you are right, it is quite dangerous if the farmers stop working because they turn into bitcoin traders and leave their farms and make food and fruits less and less because there are no farmers who want to replant the plants,
and I hope that this can be balanced, farmers still want to plant and not focus on bitcoin trading.


That is not right, a farmer, workman or fisherman will remain in their work and balance economic stability. They will not leave for their work just to trade bitcoin, something they might not even choose. Trading requires extensive knowledge so they need a long time to study while they will still choose their jobs because they already know the ins and outs of their work. Or it could be that they trade or learn trading interrupted during their free time so they will not disturb what they have done. I will tell you, farmers and fishermen in my country they have very low knowledge of the world of technology so they will ignore bitcoin to get profit or even replace it.

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September 08, 2018, 11:23:03 PM
 #33

Being worried about this new era. We are bound to digital worlds and forgotting the needs of our physical world.

If our farmers, fishermen, and other workmans that focus on agriculture would know how to gain bitcoin, will they still do their profession? However to some country, this is not a profession but a job to earn money. And if they learn about bitcoin, will they be able to continue earning from their hardworking jobs?.

What can you say about this?
I know it's crazy but maybe in the future when money has turned digital, people will switch to using robots for every physical job. the fact is that the robot industry is developing now, many robots are replacing human work, besides being more energy efficient, the use of robots is also considered more efficient.
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September 08, 2018, 11:44:34 PM
 #34

Personally, I doubt that ordinary people are going to use on-chain transactions. Second layer scaling solutions are better since they offer instant and cheap transaction but they still require the user to open and close a channel on-chain. That's why some think that more layers will be built on top of the Lightning Network and used by an average Joe.

LN is the only way forward in that regard.

The power of a globally deployed LN is that you don't have to close your channels. At that point people will be able to buy and sell coins through LN which will automatically give people way less incentive to close their channels. Why would you want to cash out to the main chain when you can have everything be done through LN? Going back to the main chain is like saying goodbye to your Ferarri from where you then jump on your rusty bike with a flat tire.

If you plan to send just one or two transactions without having an active LN channel, then you are better off using the main chain to conduct these transactions.

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September 08, 2018, 11:50:55 PM
 #35

Being worried about this new era. We are bound to digital worlds and forgotting the needs of our physical world.

If our farmers, fishermen, and other workmans that focus on agriculture would know how to gain bitcoin, will they still do their profession? However to some country, this is not a profession but a job to earn money. And if they learn about bitcoin, will they be able to continue earning from their hardworking jobs?.

What can you say about this?
I don't think that's the case, what I'm worried about is that the government's fear of bitcoin really happened, the economy will be disrupted because bitcoin dominance replaces the national currency, I don't think that should happen because the national economy must be supported by national currencies and not something the decentralization. Bitcoin can be used as an alternative currency but fiat mmoney cannot die.

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September 09, 2018, 12:21:28 AM
 #36

Being worried about this new era. We are bound to digital worlds and forgotting the needs of our physical world.

If our farmers, fishermen, and other workmans that focus on agriculture would know how to gain bitcoin, will they still do their profession? However to some country, this is not a profession but a job to earn money. And if they learn about bitcoin, will they be able to continue earning from their hardworking jobs?.

What can you say about this?
Perhaps you forgot something. Bitcoin or say blockchain technology it is associated with the 4.0 industry. Where all systems including agriculture, industry, and tourism are all automated. Maybe in the future a lot of jobs will disappear and be replaced by automation robots. Blockchain will pull all sectors up
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September 09, 2018, 12:40:27 AM
 #37

Even a taxi driver or a vendor or even a farmer and some professionals knew something about bitcoin, if they just know the disadvantages and the heavy risk of this kind of cryptocurrency, then i believe that they will not forget their profession. This new era you have mentioned as digital money is somehow not yet totally adopted by everyone.

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September 09, 2018, 12:47:06 AM
 #38

Bitcoin can help you but you cannot determine its fate in bitcoin especially in the current situation ... for me bitcoint as support for the extra money that will be

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September 09, 2018, 03:27:34 AM
 #39

Being worried about this new era. We are bound to digital worlds and forgotting the needs of our physical world.

If our farmers, fishermen, and other workmans that focus on agriculture would know how to gain bitcoin, will they still do their profession? However to some country, this is not a profession but a job to earn money. And if they learn about bitcoin, will they be able to continue earning from their hardworking jobs?.

What can you say about this?

If bitcoin become global currency, every country still have their own currency. Fisherman or farmer still using their own currency for their activity and i am believe they keep doing their job. Bitcoin dont affect to every people job because what people need is device to use bitcoin

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September 09, 2018, 06:59:00 AM
 #40

Bitcoin is both boon and bane for economic development. Where bitcoin has helped in stability of economy there only it has disturbed it also as poor people or the uneducated people can not use bitcoin and are unaware of it. Bitcoin can't totally decrease economic development because world is becoming digital now and people are adopting more the policy of cashless society. Till now it is the best investment asset which has turned very beneficial for the economy.

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