Can Bitcoin really stabilize any country's economy level?

[newbie-hero]

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

Bitcoin is highly volatile and can not control by any one. Fiat and bitcoin and never live with each other. If you once use bitcoin you'll never use your fiat because its tax free and no one want to give any taxes.

Bitcoin will never be able to help the economy of any country. The government will not allow bitcoin to become the currency of the country. It will be a revolution in the economy and will affect only negatively. The government is trying to ban bitcoin and the cryptocurrency market.

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[cintamoni]

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

Bitcoin is highly volatile and can not control by any one. Fiat and bitcoin and never live with each other. If you once use bitcoin you'll never use your fiat because its tax free and no one want to give any taxes.

I think it can show negative impact on economy. With bitcoin fiat will be disappear and the economy of that country can be destroy.

[upsidedown75]

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?

Bitcoin can improve the economic state of a limited group of people, but I don't think it can substantially change the situation of a whole country. GDP is mainly formed by goods and services produced by the citizens while bitcoin is not used so heavily in specific countries so as to rapidly make its economy flourish.

It is just that! Some very limited group of people who actually was able to see the future and could really key into it. For countries with very worse economy, bitcoin is not just some magical wand that would bring about economic changes to the country as a lot balls down to the system of governance entirely and in a corrupt settlement, there is just so little that the usage of bitcoin will even achieve when it comes to economic development and growth since just very few people will be stashing the money that belongs to developing the country for economic growth in their own pockets.

[mrproblem]

Not bitcoin but a cryptocurrency with right functions and with good agreements can be a stabilized cryptocurrency.
There can be a valuable asset of service behind it and there are a lot of way to make it stable.

[el kaka22]

Now this question cannot be answered, and there are many uncertainties in the future. In theory, cryptocurrencies will co-exist with traditional currencies and they will become friends. The traditional currency will not disappear but will depreciate. The US dollar may be one of the most depreciating currencies in the next 30 years.

Well, there would always be uncertainties in the future, but one thing for sure is that no matter the uncertainty, you cannot expect that bitcoin would all of a sudden be the solution to a country's problem or in its economic improvement. A particular country's problem has a lot to do with the government, and even though some very few people get to do well in the crypto space, that does not mean it would rub off entirely on the whole country as some would be left out somehow anyway.

Stabilizing a country's economy has more to do when it comes to industrialization, having some things in place for such in terms of amenities and so much more. Bitcoin is not what would be providing that; bitcoin can only help the user's economy personally.

[best ever]

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

Bitcoin is highly volatile and can not control by any one. Fiat and bitcoin and never live with each other. If you once use bitcoin you'll never use your fiat because its tax free and no one want to give any taxes.

Bitcoin will never be able to help the economy of any country. The government will not allow bitcoin to become the currency of the country. It will be a revolution in the economy and will affect only negatively. The government is trying to ban bitcoin and the cryptocurrency market.

This is the right position as I think. It will be weird to guess that Bitcoin or any other cryptocurrency can stabilize the economic situation in any of the countries.

[zacad]

It is too early to think so, maybe it can be achieved in ten years, when Bitcoin would be very expensive. This can only be achieved if the cryptocurrency is successful.

[basyang]

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?

Honestly, Its hard for me to say wheather Bitcoin can really help the countries economic level. I just want them to see it to themselves if bitcoin can really help the economy if they will implement it but still they are banned and  avoid cryptocurrency but see the other countries who accepted it just research, observe, and analyze every countries you can see if they are improving or not.

[ishinn99]

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?

Honestly, Its hard for me to say wheather Bitcoin can really help the countries economic level. I just want them to see it to themselves if bitcoin can really help the economy if they will implement it but still they are banned and  avoid cryptocurrency but see the other countries who accepted it just research, observe, and analyze every countries you can see if they are improving or not.

It is really hard to tell if bitcoin can really stabilize any country's economy level because most of the countries don't recognize cryptos as currencies and most of them are not favor of it.

[wxa7115]

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

Bitcoin is highly volatile and can not control by any one. Fiat and bitcoin and never live with each other. If you once use bitcoin you'll never use your fiat because its tax free and no one want to give any taxes.

Its impossible. First of all not everyone aware about bitcoin or cryptocurrencies and those people who are aware about it they're not ready to invest. Government will never let people to use bitcoin due to there disadvantages and criminals activities.

The governments are in no position to allow or not allow the use of bitcoin as a currency, people are going to do what it is necessary for them to survive and we have seen this in countries where cryptocurrencies have been banned and people have decided they will use cryptocurrencies despite the ban because they will do what benefits them the most, governments despite their best efforts to control their population will be unable to control cryptocurrencies.

If they managed their fiat currency and their economy in a better way instead of trying to take advantage of their citizens all the time we will not have any need for cryptocurrencies in the first place but since that is not what they do then cryptocurrencies could take over in the future.

[shield132]

There is only one way to not only stabilize but improve country's economy a lot, but that country must be small. For example imagine you have 5 billion in budget, invest that in crypto, for example in bitcoin and ethereum. Imagine country did that in the begining of 2017 year and sold them in winter, for example when price was 10000. Imagine how great profit it is for budget. Maybe what I talk is very sci-fi or fantastic but I wrote that as an example and maybe won't happen in reality too. On another hand there is no way crypto can increase economy, if you turn in crypto world, offer cheap electricity for mining, integrate blockchain systems in everything, then who knows, maybe yeah.

[Eggzootechkoyn]

Bitcoin is not stabilizer to any country's economy at any level. Instead, bitcoin is an enhancer which other countries claimed that bitcoin has enhanced their economic growth as compared to some other years.

[MTNAX]

In my opinion, all that can happen as long as we as bitcoin users can be good at processing it. Stable or not the economy in a country in my opinion depends on how its citizens respond to and process their economy. Bitcoin can be utilized and provide benefits for them if they are right to invest.

[bce]

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?

you are right with your opinion and I think it needs a long process and time to be able to make cryptocurrencies the stable point of the world economy and I think it is very difficult to shift the real function of fiat currency

[wxa7115]

There is only one way to not only stabilize but improve country's economy a lot, but that country must be small. For example imagine you have 5 billion in budget, invest that in crypto, for example in bitcoin and ethereum. Imagine country did that in the begining of 2017 year and sold them in winter, for example when price was 10000. Imagine how great profit it is for budget. Maybe what I talk is very sci-fi or fantastic but I wrote that as an example and maybe won't happen in reality too. On another hand there is no way crypto can increase economy, if you turn in crypto world, offer cheap electricity for mining, integrate blockchain systems in everything, then who knows, maybe yeah.

I do not know if what you are suggesting will be allowed by the law, since in many countries there are laws that forbids the governments to invest in volatile instruments, also the amount you are suggesting of 5 billion is simply too big, the investment of such a big sum will move the market and if they tried to sell they will move the market as well but now they will move it down so it is difficult to tell if they will get any profits.

Also you are making a very basic mistake that many investors make and that is to assume that everything is going to go according to your plan and you will obtain profits, as long as you are investing there is always the possibility that everything goes wrong and you lose money, and that is unacceptable for a government because if that happened the government could face bankruptcy.

[Finestream]

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?

you are right with your opinion and I think it needs a long process and time to be able to make cryptocurrencies the stable point of the world economy and I think it is very difficult to shift the real function of fiat currency

Yes.Looking at the current situation,fiat currency would be hard to replaced by cryptocurrency,but with its mass adoption in the future,cryptocurrency may become a reserve currency.I think bitcoin cannot totally stabilize a country's economy but it will be a great help to the people to improve their quality of living.

[becak mesin]

I don't think so, but bitcoin probably can be one of supporting factors to increase the economic levels of country. The economic improvement or level is measured by several factors such as the national income, national products, job vacancy and positive improvement that tends stable and continuously improve.

Bitcoin can contribute to make the economic stable while the users or holders of bitcoin is convert it to the real fiat then use it for purchasing national products. It is automatically support and boasted the purchasing power.

[jonaire99]

Cryptocurrencies are one of the most volatile currency and fluctuate rapidly than the fiat. To stabilize an economy, it need a strong currency that that could withstand any kind of econmic challenges. Bitcoin, even if it is legalized by the government and become a common currency of a nation can't stabilize economy because the virtual currency itself is not a stable currency.

[VivianJacob]

In my opinion, bitcoin can not function to stabilize an economy, it can only increase its GDP by allowing investors to make more money. However, because of its instability, the stabilization function of the economy seems to belong to stable currencies other than bitcoin.

[Argoo]

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?

In my opinion, Bitcoin has no influence on the real economy of a particular country. It is created as a virtual alternative payment system. The emergence of such a system increases the usability of money, but this does not directly affect the state of the state's economy. The economy needs production of real goods and services, and Bitcoin itself does not affect their increase.