Can Bitcoin really stabilize any country's economy level?

[setialovers]

first of all  ,  bitcoin itself is not a stable crypto  . so my question is how can he stabilize the country's economic level if he cannot stabilize himself first ?  

it'll also depend on the country or the government of the country and not on bitcoin or any other currency . some country wont still be stabilize because they experience an inflation or any other issues regarding on the supply and demand of the live stocks/stocks  . while some dont experience this issue because they have a good leader  and thier lives are already wealthy .

I am agree. Bitcoin price depend on supply and demand and there is no central authorities that can control the fluctuation like in fiat money. If in fiat money, central banks can intervent market if the price move too volatile.

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[Tylev]

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?

We should not forget that Bitcoin is only a payment system, and it is designed to exist in parallel with the national money of the state, and not to replace it. Also, Bitcoin, like any other decentralized cryptocurrency, does not have a direct relationship and relationship with the economy of any state. Therefore, Bitcoin is simply not able to solve the global economic issues of states.

[kaisa]

Bitcoin was created only as an alternative payment, it cannot be something important for the country. The state has its own fiat, if the state wants to make new crypto as an alternative payment it might be but not bitcoin. Because bitcoin will never intersect with the state because the state needs control over transactions and bitcoin does not allow that. Like the crisis that took place in Venezuela, some of its people tried to survive with bitcoin but Venezuela made their own crypto to be controlled, I was afraid if one day when Venezuela had recovered they would never receive their crypto again.

[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

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

I am agree with you. Its hard for government to implementing bitcoin monetary concept because bitcoin have limited supply and bitcoin is decentralized cryptocurrency. I think bitcoin can improve personel asset but to stabilize the economic of a country, i think its hard to be done

[Gagah119]

How could Bitcoin stabilize a country's economy, considering that the price of Bitcoin has never been stable, so I think, NO.

[Pattart]

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?

We should not forget that Bitcoin is only a payment system, and it is designed to exist in parallel with the national money of the state, and not to replace it. Also, Bitcoin, like any other decentralized cryptocurrency, does not have a direct relationship and relationship with the economy of any state. Therefore, Bitcoin is simply not able to solve the global economic issues of states.

So there is no direct relationship with the economy of a country? what about the function of commodities and investments that are profitable for its users? I think its can change a person's economy and finances right? and the big effect can help a country's economy?

[2chase]

I think that at the moment Bitcoin can have a significant positive impact on the economy of most countries. As an example, everybody knows the well-known Venezuela. In this country, bitcoin is currently one of the main currencies that has actively application in this state. Therefore, the use of Bitcoin as another currency in the territory of the states can have a beneficial effect on the economy.

[kaisa]

I think that at the moment Bitcoin can have a significant positive impact on the economy of most countries. As an example, everybody knows the well-known Venezuela. In this country, bitcoin is currently one of the main currencies that has actively application in this state. Therefore, the use of Bitcoin as another currency in the territory of the states can have a beneficial effect on the economy.

I think you don't understand the problems of the Venezuela country, the extraordinary political impact that has caused Venezuela to use bitcoin to survive. But in reality when bitcoin has decreased, it becomes a separate problem and the Venezuela government seeks to make crypto itself which is guaranteed with oil. Maybe it can help them but it does not fully make the crisis state recover, because bitcoin transactions to buy goods or food are still limited.

[Rooster101]

The number of bitcoin is limited and its price is highly volatile which also fluctuate rapidly so I doubt if bitcoin can effectively help stabilize a country's economy because of unstable price. The central bank will not going to approve any decentralized currency as a legal tender because they can't effectively impose monitary policies on it. Bitcoin might help the economy when its price is going up or in a bullish situation but there is also a possible losses when the top coin suffer a crash o eneters in a prolonged bearish condition.

[poldanmig]

of course you can if the intention and purpose of the investor is good because the good or bad results of the investment depend on the investor itself

[Irvinn]

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?

Well said. Bitcoin may have a slightly positive effect on the increase in the gross national product of the country, however, if the cryptocurrency will be used along with the national money of this state. Japan already has a positive experience. However, Bitcoin or another decentralized cryptocurrency will not be able to replace the national paper money of the states or be the main currency of any state. In this case, it very quickly unbalances the economy of any state.

[hen cet]

Bitcoin was created only as an alternative payment, it cannot be something important for the country. The state has its own fiat, if the state wants to make new crypto as an alternative payment it might be but not bitcoin. Because bitcoin will never intersect with the state because the state needs control over transactions and bitcoin does not allow that. Like the crisis that took place in Venezuela, some of its people tried to survive with bitcoin but Venezuela made their own crypto to be controlled, I was afraid if one day when Venezuela had recovered they would never receive their crypto again.

Bitcoin cannot change the economic condition of a country because only alternative currencies are used throughout the world. Its added value for a country is almost non-existent, but for the people who have it it has an influence because it becomes a digitally traded commodity.
For the country, bitcoin is considered as a product that has added value to the community if used correctly, such as being an investment that can increase in value in the future.

[fauzan Ichsan]

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?

Well said. Bitcoin may have a slightly positive effect on the increase in the gross national product of the country, however, if the cryptocurrency will be used along with the national money of this state. Japan already has a positive experience. However, Bitcoin or another decentralized cryptocurrency will not be able to replace the national paper money of the states or be the main currency of any state. In this case, it very quickly unbalances the economy of any state.

Japan may be more prosperous, if its people can move their crypton assets to property for example in 2017. that time was not only stable, but there was a significant development

[PlusOne88]

Well this might depend on how a country uses bitcoin to its economic advantage. We know that even with the use of actual money such failure could lead as well to loses and the same bitcoin will be since it is just a form of a digital currency. But the difference is quite big in terms of scope. While you can buy things with money on your area, you might not be able to use it on any area. But with bitcoin you can use it almost anywhere which means you can create business with a very wide scope with the use of bitcoin as a payment system. The bigger the scope the greater will be the number of your clients and the more income you might be able to get in return.

[Janation]

of course you can if the intention and purpose of the investor is good because the good or bad results of the investment depend on the investor itself

I don't know about that.

We all know that Bitcoin and any other cryptocurrencies are decentralized and we can experience the financial freedom with it. Saying that, I can't say it can help a certain country's economy level. People might be able to earn from those investments but I don't think it will affect the economy. Not all of the people are using it nor investing on it and also, only some of the people invest on it and it is not being taxed by most of the government, most since as far as I know, some countries are taxing Bitcoin already.

[whirlcoin]

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 don't think still no Bitcoin will not support any country development or it will use for the economic changes for your country because the regulations are very important for this so if it was happened the country will need to accept it completely then only the possibility of changing the economy will happen to any country.

[gowobonyok]

I don't think so, because the economic level of a country is calculated from various aspects, not just assets. and bitcoin is an asset, it will not have a big effect on the economy of a country.

[Duzter]

I don't think so, because the economic level of a country is calculated from various aspects, not just assets. and bitcoin is an asset, it will not have a big effect on the economy of a country.

As of now there isn't any big contribution to the economy of a country through bitcoin as mentioned. As of large inflow of fiat happens through bitcoin into a country, but when compared to the fiat that's been used around cryptocurrency contribution to the economy is still very small.

[rika0223]

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.

maybe there is truth in your opinion for now it is indeed impossible that it happens because we know there are some countries that still prohibit their countries from using crypto currencies but in the future it might be able to make the country's economy more developed

[playboy654]

Bitcoin will not helpful for there any country development because it will not created by any country if was legal age to buy the country then the changes will definitely have come but till now it cannot make any profit for the other country.