Can Bitcoin really stabilize any country's economy level?

[Yantoaja]

I think btc to increase a country's GDP or change a country's economy may be difficult for now because the anonymous nature of BTC will make it difficult to calculate into a country's GDP, especially to measure the economic level of a country that requires a detailed calculation, the nature of BTC this anonymity also makes many governments make rules against BTC to avoid money laundering

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[arbifahrozy]

n my opinion, bitcoin cannot stabilize a country's economy because bitcoin or the blockchain system is only useful in changing a country's system, such as blockchain usage in the country's pirate body, it can make payments and transactions safer.

[zoeylee]

In my opinion, i think it would not really stabilize the economy level of a country because it has also disadvantage.

[Usafstar]

Economy has many factors it is not only one factor that can stabilize the whole economy but bitcoin can provide it's own shares and bitcoin is the best which makes individual happy and their purchasing power can can be strengthen through crypto currencies. Bitcoin is good for every one and for economy as well.

[Rustamm]

Bitcoin is not able to stabilize the economy of a particular state, in any case, significantly affect this process. If he goes along with the national money of the state, he will be able to bring some benefit to this state. He cannot replace the national money of the state. This would have a very negative impact on the economy of any state, so no state will ever do that.

[Kusnechik]

For Bitcoin to stabilize the economy, you must first introduce it as the main currency, but given the high volatility, this is not the case.

[Casdinyard]

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.

I believe it's not literally the money that entirely affect the economy and even bitcoin. But this should be;
1. Investment
2. Land or resources
3. Employment rate vs Unemployment rate
4. Purchasing power

Government doesn't acknowledge bitcoin as a currency nor asset and this is not like a stock exchange that when it dump the whole market will be trouble. Whatever happen to bitcoin we won't experience as a whole the effect of it even a bit.

[stellgod]

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

Bitcoin just help people and also can help out any government in some cases as well in terms of fast transactions as well as payment of loans which is common now in Germany as they are using the Bitcoin as payment mode of loans. Just like Germany and Japan other countries can also build and help grow their economies if they bring these precious coins in a proper use especially the Bitcoin.

[TheGreatPython]

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.

Bitcoin cannot actually and those who are thinking bitcoin is just some magical stuff that would just bring about a solution to a country's economy, they are absolutely living in a dream's world.

Stabilization of economy has to do with a lot of things, which is mostly linked to industrialization and production within the country, the management of natural resources for the greater good within the country and how people are able to do well for themselves generally to a large extent. Bitcoin is just a currency and a piece of a puzzle, but not made to just provide a solution to a country's economy but can actually help greatly if utilized properly amongst other things.

[Ranly123]

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 the economy of a country depend on how well the government mange the resources their country can offer. Maybe Bitcoin can help but not that much as Fiat that is the most common used currency by every citizen.

[btc_angela]

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 the economy of a country depend on how well the government mange the resources their country can offer. Maybe Bitcoin can help but not that much as Fiat that is the most common used currency by every citizen.

Right, relatively speaking, bitcoin can't do anything to stabilised a country's economy because only a few can take advantage of bitcoin. So their economy won't move that much as expected. The only significant effect is through remittances, but not all countries have citizens who works abroad. So with that said, I don't think bitcoin can at least stir or even stabilises the economy of a country.

[visionE2]

No doubt bitcoin has wonderful potentials but if we're talking of stabilizing a country economy level bitcoin can't do that due to fluctuation in price and what bitcoin will give is an opportunity to escape inflation and financial problem. Meanwhile, those stable coin we have in market can be use to stabilize economy level.

that's true, I agree with you, bitcoin can't stabilize the economy, but with bitcoin, a country's economy will be more effective and efficient because the transactions through bitcoin will cut the costs and time

[FlightyPouch]

For Bitcoin to stabilize the economy, you must first introduce it as the main currency, but given the high volatility, this is not the case.

In which will not really happen since let's be real here, the the government will not allow a crypto currency to be their main currency since it is not in their control. There will come a time that if this will be true, there will be a huge possibility that investors, particularly whales will be able to manipulate the price of it and will be having a great effect at that certain country's economy.

[yamete kudasai]

It is hard to explain that bitcoin can stabilize the economy level of that country because their is some bank officials examines the use of bitcoin and how bitcoin help to generate them and help it out in the economy , But I sure someday it can take it to government in this particular money exchanging to reach out the economy of the people that did they done.

[wxa7115]

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?

It seems to me that as more time passes people want that bitcoin does more and more stuff, and bitcoin was never designed to do something like that, despite the great technology behind bitcoin, it is still a currency and nothing more, in the future once the price of bitcoin becomes more stable because it has been adopted by a lot more people and it has become so big that no player can move it as they wish, at that point bitcoin could bring some kind of benefit in the long term to the economy by having a stable currency that cannot be printed at will.

But since that is not the case then bitcoin is not going to bring a lot of benefits to a country as a whole, but it can bring great benefits at the individual level.

[rickadone]

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.

And really, that is the absolute truth. I wonder why a lot of people think money is the thing that would possibly save an economy. The definition of economy literally is the state of a country or region in terms of the production and consumption of goods and services and the supply of money as well as careful management of available resources. When all these things are not in place, there is absolutely no way on earth a country's economy will become good no matter how much they adopt bitcoin on its own. Bitcoin is not just going to be the currency that would practically just save an economy single handedly; there is so much to an economy.

[Findingnemo]

Definitely it is not going to help the economy in terms of increasing GDP of any country because it is not a job or business opportunity so it still based on the government where the economy belongs but it can help many people to make money from the crypto business like trading mining or whatever we have.

[@Mhaiang]

In the context of satoshi's vision of bitcoin, it aims to change the payment system industry in terms of security, speed, and low transaction fee. But bitcoin became more than that as investment outweighs its purpose as a digital currency and through that, most of people's lives has changed for good. Countries also admit that their economy has grown a bit with the use of crypto so i think bitcoin is really helping one's economy than stabilizing it.

[Vaculin]

In the context of satoshi's vision of bitcoin, it aims to change the payment system industry in terms of security, speed, and low transaction fee. But bitcoin became more than that as investment outweighs its purpose as a digital currency and through that, most of people's lives has changed for good. Countries also admit that their economy has grown a bit with the use of crypto so i think bitcoin is really helping one's economy than stabilizing it.

Right.Bitcoin has really higher chances to stabilize one's persons economy but if we talk of a country,maybe not.Bitcoin may be too young for that,it cannot totally change the whole country's economy but at least we can see changes already in each person's economy.

[Zooplus]

Definitely it is not going to help the economy in terms of increasing GDP of any country because it is not a job or business opportunity so it still based on the government where the economy belongs but it can help many people to make money from the crypto business like trading mining or whatever we have.

Yes.Bitcoin can make some people's lives change for the better because of the good income they can get from it.But if we talk of a country,bitcoin may contribute some progress but it doesn't mean it will totally make one's country economy be stable.