Can Bitcoin really stabilize any country's economy level?

[cahbagus555]

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

[maculeth]

it could be because the exchange rate of bitcoin globally is the same, which means that every country has the same exchange rate. different from the dollar, where each country has a different exchange rate against the dollar and is at risk of inflation. if bitcoin is used as a country's currency, I think that country can be more stable in economic terms.

[mornabo]

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

for this current situation it is impossible for bitcoin to affect the economic condition of a country, the impact of bitcoin is not too big for the country's economy, let alone the total of bitcoin users is not large in every country, bitcoin could improve the economy of the user, but to stabilize the economy of the country with hundreds of millions of people and millions of problems are impossible

[tronghai12345]

Bitcoin isn't big enough to affect a country's economy. The amount of people who use bitcoin is a lot but we are all scattered. It's not one large community in a country but spread out in a multiple countries.

[angel55]

Bitcoin will be one of the most stable currencies in the future because of the set inflation rates.  Its unlike government currency where a single party can print massive amounts of dollars at will.

[bonammeo]

Bitcoin is a bubble. It is very difficult for it to stabilize a nation's economy. It contains many risks, the economy of the country can wade.

[Lorna111]

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?

Maybe just a few stable moments because no one knows how bitcoin will go in the future, if the price goes up it might benefit the country that uses it but if it goes down it will definitely hurt it too. Therefore we must think twice about whether bitcoin is beneficial or detrimental to our own economy.

   The Bitcoin is just one of the indicators that would either help out one Economy of each country is the greater effect once this is totally accepted by the global market, The Country of each country still having some resistance on the the acceptance of the Crypto Currency Digital Market. We've seen on the news either on Social Media, Print or Broadcast Media the open discussion on Crypto market status of its price value of one coin. The good news Bitcoin remains stable even with the ups and down on the market trading.

[Stedsm]

Bitcoin is a bubble. It is very difficult for it to stabilize a nation's economy. It contains many risks, the economy of the country can wade.

So, you came out of nowhere and decided to declare it "a bubble"? You need sheer experience in crypto to even understand why is it valued even at these levels. Sorry if this sounds a bit off-topic, but Bitcoin is scarce in number as well a technology so smooth it helps everyone transact within a matter of minutes (confirmations) and as well, keeping the price high (based on demand and supply factor) helps it gain worldwide attention. High price is needed because it helps wider audience to transact small number of Bitcoins and gain large over their investments, and for new investors, it helps for them to hold a piece of this. Anything like Bitcoin that helps in gaining extra wealth has the power (to not completely turn it out) but at least help the growth of economy of any country. I know that if a country has too many coins with them, then the concept of this innovation to help everyone go digital and anonymous will not be fulfilled as there will be centralization. But having some part of it would really help whenever the "speculation levels" go high and everyone rushes back buying BTC.

[magnat7691]

In order to understand whether or not, you just need to try if there is such a country that agrees to the experiment.

[nightways]

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 it can’t do that. And by the way Bitcoin is not what a country in such a situation needs. I believe that any country that is having economic problems, the only solution for them stop it is by working really hard and that’s in the hands of that country’s government to decide. The government is the one that can help their country out of such a situation.

[TheClownSong]

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 bitcoin can make stability on economy. With limited supply, bitcoin is new monetary system and its revoluationer system. But i think country wont use bitcoin as their currency because they always using their own currency for their economy and every country have different economic condition

[wuvdoll]

The only way to do that is to make bitcoin as official currency of the world and let it intervene in the worlds economic circulation. As long as you see the bitcoin stuck over the blockchain with only use of holding, trading etc etc then it wont be contributing in the national economic development at all. It needs to be in circulation so that it can be part of the national economic model. Understand that all the product and services that are offered within nation are contributing to the national development or economy because they are taxed, and government use the same tax for the national developments. This is why we need bitcoin to be officially recognised before it can even make any movement for the national economy level.

Well, the usefulness is there and that is for the fact that it can be used as a means of payment. Yes, one way or the other, it can aid international transactions, international trades without having to deal with the banks, over the years, people can even start getting well to do for themselves without having to depend on their government and in that case, we may see more jobs and so on.

But all these will only be common in a place where mass adoption was huge within that country, which is something we may not be able to see pretty much. As long as things are not in place within the country itself by the government, nothing will change in the economy.

[muslol67]

Bitcoin may not do this. But when we think about crypto-money in general, it can definitely be a solution to a number of economic problems.

However, it is a fact that it is not easy to correct the economy of an economy that does not supply itself with another money.

[Chrisjay29]

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?

 Will i think its depend on the country. It is true that bitcoin is really big help to make country economy grow fast. But if without coordenate and help by the government its useless. Economic can grow without bitcoin it is just depend on the people who leave in the country.

[StarofBTC]

as of the moment, it cannot, i mean, with all the crisis globally, and that bitcoin is not yet widely accepted across the world, it can diminish though like what you have said, but totally not gonna end poverty and solve the current crisis, there are so many factors that affect world economy but sadly, cryptocurrency cannot solve it, at least today, even cryptocurrencies are not yet stable to rely on.

Bitcoin is not just some magic wand that would all of a sudden just bring a country's economy to a full blown state and it is all about the government, the people and the environment itself.

I wonder how people perceive bitcoin when they refer to the changes it can bring to the economy except for the fact that some who are early adopters in such country would get rich and then they will be able to have some pretty good life in the long run, and maybe put up business, schools and whatever to help the economy.

However, we should remember that in some places, a lot of people still live in penury, and while some live in wealth, so at the end, if there is no avenue for development from the head itself, nothing will change.

[zubrr51]

Everything will depend on the country where they want to use Bitcoin as the main currency. Nothing will help a very poor country.

[0t3p0t]

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 will of course if only it will be included in school  curriculum and countrymen will be educated on how it works and it's potentials. Adoption is the key for Bitcoin to help a particular country to stabilize it's economic level. Yeah Bitcoin is limited in supply but that doesn't mean we just stop there take note that it can be divided into fractions depending on it's value . I think there is no need for us to take fiat out of sight, for me having both assets will make sense.

[cintamoni]

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

Bitcoins can help those people how have no jobs. It can gives opportunity for poor people to make money by sitting home. Actually bitcoin is depended how we can use it.

[GregH37]

Bitcoin is not here to stabilize any countries economy level. It is just a currency for itself and a decentralized one at that. It can be used as comodity if really tried but thats all there is no way to use it in a way that could stablize a countries economy.

Bitcoin can't even stabilize itself let alone anyone elses economy. I think for any country to get a stabilized economy they need to become boring in the way they make money, proper taxes and proper run without any hectic news like usa,venezeula,turkey none of that. Be germany, be boring but working. Bitcoin can't help you about it but you can use it to make a difference.

[CryptoAssasin]

I don't think so. I think not everybody can fully understand how bitcoin works. bitcoin has its own advantages and disadvantages and I think if it can stabilize any country's economy level but I also think that it has negative side effects.

I agree with this. As far as I understand, bitcoin and cryptocurrency takes time to learn everything and 6 months to study on this industry is not enough. From how to convert fiat to cryptocurrency, how it will give you passive income, how blockchain transaction works and how to protect your funds against scammers really are complicated. Bitcoin will help fiat currency for faster money transactions but I also doubt on a fact that it could stabilize a country's economy level. As of now, bitcoin still facing big challenges on how it will be regulated and avoiding price manipulation so how it can help stabilize a country's economy level if bitcoin itself is destabilize?