Can Bitcoin really stabilize any country's economy level?

[charlotte04]

As we all have been speaking many times that Bitcoin possesses the power to diminish the use of fiat in a country where it's welcomed with full hearts, I wish to know that does it really have the ability to cope up with the challenges a country's economy faces? Can it help in the growth of their GDP?

As we know, Bitcoin is limited in number whereas Federal Reserve has the power to do monetary easing when things go wild with their economy levels. So with such limitations, can Bitcoin really stabilize any country's economic issues?

I think not. It will always depends on the situation of that country and for also having the best resources they could have and to export it to other countries.

[higgidave]

I dont think bitcoin can be a national currency. But if bitcoin system adapted in monetary system in country, i am believe it will make economy more stable but with no fast growth. Its happen because bitcoin have limited supply

It can not only stabilize but improve the economy too. If it can improve the economy then it can destroy it too. Not paying tax can make government angry because if you don't pay tax how government make progress in our country.

[Huskarls]

I don't think bitcoin has a role in the ups and downs of a country's economy, because of its uneven use. This is evident in countries that have long legalized cryptocurrency

[Ozero]

Bitcoin is exactly the opposite of what countries with a spiralling economy needed. Bitcoin is even more volatile than many hyperinflative currencies, it would be much easier if they just submitted their country to a foreign power for management, because obviously many of these countries cannot manage their own economy. Back to colonialism?

Interesting idea. I, however, also believe that Bitcoin is only able to quickly deregulate the economy of any country if it goes instead of national money. If it complements national money, as in Japan, it will be of some benefit to the state. Therefore, it is unlikely what state will dare to switch to the use of cryptocurrency only.

[hildacitra]

Bitcoin is exactly the opposite of what countries with a spiralling economy needed. Bitcoin is even more volatile than many hyperinflative currencies, it would be much easier if they just submitted their country to a foreign power for management, because obviously many of these countries cannot manage their own economy. Back to colonialism?

That is true that Bitcoin and other major Crypto are the opposite of conventional fiat/fiat currency. As we all know that the basis of Bitcoin is to diminish the transaction fee, it is obviously opposite to real fiat basis. However, it is just my personal opinion and I have no enough capacity to talk about this.

[KrishaBitcoin]

Yes! By reducing all issues of a certain country that will affect their economy and financial aspects. Like the unemployment in which this is the most common problem of all nations that if Bitcoin will help to reduce or eliminate the unemployment then for sure the purchasing power of their people will be strong making their economy to become more strong and stable too.

[leavolnhals]

As we all have been speaking many times that Bitcoin possesses the power to diminish the use of fiat in a country where it's welcomed with full hearts, I wish to know that does it really have the ability to cope up with the challenges a country's economy faces? Can it help in the growth of their GDP?

As we know, Bitcoin is limited in number whereas Federal Reserve has the power to do monetary easing when things go wild with their economy levels. So with such limitations, can Bitcoin really stabilize any country's economic issues?

I think it can not have that ability. present
Bitcoin does not represent any country and has no special influence on any country. It is operating in different countries and the capital is shared equally for each country. Bitcoin needs to change the way the market works and some other issues can stabilize. There are too many organizations manipulating this market.

[wahyu wida]

Bitcoin is exactly the opposite of what countries with a spiralling economy needed. Bitcoin is even more volatile than many hyperinflative currencies, it would be much easier if they just submitted their country to a foreign power for management, because obviously many of these countries cannot manage their own economy. Back to colonialism?

Interesting idea. I, however, also believe that Bitcoin is only able to quickly deregulate the economy of any country if it goes instead of national money. If it complements national money, as in Japan, it will be of some benefit to the state. Therefore, it is unlikely what state will dare to switch to the use of cryptocurrency only.

i think countries that have received bitcoin from start will have more benefits. because at a relatively cheap price the community already has a BTC. so that when the price of BTC has soared, the community is prosperous

[cluit]

Bitcoin is exactly the opposite of what countries with a spiralling economy needed. Bitcoin is even more volatile than many hyperinflative currencies, it would be much easier if they just submitted their country to a foreign power for management, because obviously many of these countries cannot manage their own economy. Back to colonialism?

That is true that Bitcoin and other major Crypto are the opposite of conventional fiat/fiat currency. As we all know that the basis of Bitcoin is to diminish the transaction fee, it is obviously opposite to real fiat basis. However, it is just my personal opinion and I have no enough capacity to talk about this.

The basis of bitcoin coming into play is not to diminish transaction fees, the main purpose is to sort out the issue of third parties and have a peer to peer way of transacting without the interference or the influence of any government, or without anyone ever being in control, which is contrary to what you will have with banks and this is the decentralization aspect we are all so keen about.

Can it stabilize a country's economy? Maybe, maybe not! I believe it is a good thing to adopt bitcoin by any country as that can of course help the economy grow if used and adopted on a large scale, but at the same time, like I always said, people should not think bitcoin is just some magic wand that would make everything revived and more part will still have to be played by the government itself to have a stabilize economy but it can help.

[1Referee]

i think countries that have received bitcoin from start will have more benefits.

While you likely meant something different, it does raise an interesting point.

With how Bitcoin has always had a bias to go up significantly, I'm wondering if seized funds by governments will no longer be auctioned as soon as possible, but actually held offline till they believe it's a good time to unload them. It's very speculative, but it wouldn't surprise me at all. It could very well be that they're already doing it.

Last year the Bulgarian government managed to seize over 200,000 Bitcoins, but since then we haven't heard anything about it anymore. It's quite weird actually, especially with how it concerns such a ridiculous amount of coins. What happened with them? Is it a hoax?

https://www.coindesk.com/bulgarian-government-sitting-3-billion-bitcoin/

[skish85]

Currently, it can only improve trade relations. Its volatility is too high and can damage the economy.

[Ewinsane]

Yes! By reducing all issues of a certain country that will affect their economy and financial aspects. Like the unemployment in which this is the most common problem of all nations that if Bitcoin will help to reduce or eliminate the unemployment then for sure the purchasing power of their people will be strong making their economy to become more strong and stable too.

Yeah, if we actually look at the way economic and financial policies made by the government has affected a lot of people nowadays, we will realize how it has not helped in anyway and the good thing with bitcoin is more like it giving us freedom from all those their bullshits they have been revolving around us depending on fiat all these while.

For payment purposes, for currency, for store of value, whatever you can think of, the benefit with bitcoin surpasses anything that has ever come out from the government. The effect it can have on an economy is enormous, if it can be adopted hugely, but at the same time, we also have to know that most part of the growth in the economy will still have to be from the government actions itself.

[unusualfacts30]

As we all have been speaking many times that Bitcoin possesses the power to diminish the use of fiat in a country where it's welcomed with full hearts, I wish to know that does it really have the ability to cope up with the challenges a country's economy faces? Can it help in the growth of their GDP?

As we know, Bitcoin is limited in number whereas Federal Reserve has the power to do monetary easing when things go wild with their economy levels. So with such limitations, can Bitcoin really stabilize any country's economic issues?

As of current environment bitcoin is looked at as an investment by many investors who work at the bank, wall street etc. It's hard to imagine how it can stabilitize their economy when bitcoin in itself is very volatile currency for many different reason. However, bitcoin can help with unemployment in some cases and create new jobs that may or may not improve the stability of any country's economy. There are other variables that you have consider that are not included within this system.

[lamadu3]

As we all have been speaking many times that Bitcoin possesses the power to diminish the use of fiat in a country where it's welcomed with full hearts, I wish to know that does it really have the ability to cope up with the challenges a country's economy faces? Can it help in the growth of their GDP?

As we know, Bitcoin is limited in number whereas Federal Reserve has the power to do monetary easing when things go wild with their economy levels. So with such limitations, can Bitcoin really stabilize any country's economic issues?

I think not. It will always depends on the situation of that country and for also having the best resources they could have and to export it to other countries.

I do not think so but it can help each investor to earn. I have a confidence that BTC will be the largest gainer among all the cryptocurrencies and still buy Bitcoin.

[usekevin]

Unfortunately the price of bitcoin itself not in stable face.The nature of bitcoin is decentralised, but it doesn't increase in huge value from long.Over a period of 6 months,the price of bitcoin in the lower end.After the raise of 17,000$ ,many had come in bitcoin trading.If the bitcoin is accepted through out the world,it will change the any country economy.

[Irvinn]

As we all have been speaking many times that Bitcoin possesses the power to diminish the use of fiat in a country where it's welcomed with full hearts, I wish to know that does it really have the ability to cope up with the challenges a country's economy faces? Can it help in the growth of their GDP?

As we know, Bitcoin is limited in number whereas Federal Reserve has the power to do monetary easing when things go wild with their economy levels. So with such limitations, can Bitcoin really stabilize any country's economic issues?

No, Bitcoin is not able to stabilize the economy of a particular state. In practice, it is the complete opposite of national money, and if the state switches to using only Bitcoin, Bitcoin will quickly de-balance the economy of any strong state.
The fact that Bitcoin has a limited amount can in no way affect the stabilization of the economy. Bitcoin is not at all connected with the economy of any state.

[buharikx31]

Possibly it can happend in my opinion, but there is a lot of problems that country should solve before getting a new main currency which could be disabling all other currencies that was national at that moment and replacing all transactions and currency payments to bitcoin

[SkyFlakes]

Factors that stabilize an economy are factors that can contribute directly to the economy. They are things like factors of production and not money, be it fiat or bitcoin.

For instance, entrepreneurship/humans can manipulate or interact with the environment which is God's gift, to grow the economy via ideas etc.
Land too as a factor of production can be used to cultivate agricultural products which are exported finished or raw products.
Labour also is very much useful. That is of different types, skilled, semi skilled and unskilled. They are all employed to see that work is carried out towards the growth of the economy.

So money is not included, also bitcoin.

I think this one catches my attention, and this makes ne believe that money doesn't really play a major role in the growth and development of the economy of a country. Thus, bitcoin would not help any country to stabilize their economy. It woukd help people in a short term, but that would not primarily affect the economy where that people resided.

[kvipcn]

I highly doubt bitcoin will be able to stabilize a country's economy level. The economy of any country is made up of so many aspects, and the financial ecosystem is one aspect. To stabilize a country's economy, the main source of the country's source of income should be the focus if they need to improve the economy. IF bitcoin can have some kinda influence on this, it can stabilize the country's economy.

[Phantomberry]

No, Bitcoin is just a cryptocurrency and it is universal to make stabilize the country economy it requires a good inflation rate of the country and the stock market is good that's the opposite of bitcoin do.