Economic and social impacts of BTC - Research ideas

[kawetsriyanto]

Talking about the impact of the BTC in societies will depend on each country and of course will depend on what country you are in. So far, countries may have a different point of view about this cryptocurrency and some still ban.
However, for the societies in 10-20 years later, everything may happen.
Today, Bitcoin is mostly used as one of the digital assets for most societies, to be traded or invested in order to gain profits and prospects.
However, for the future, I also think about the way of the financial system, can Bitcoin become one of the payment methods to be used in most countries? It probably becomes one of the issues that can be raised.
However, of course, it will depend again on how the people in the societies and the government will view this point.
If the social impacts, many people think that holding Bitcoin is only for raising money and becoming rich, however, Bitcoin is more than it. It is about technology and currency use

[xWolfx]

I am one who believes that besides the obvious economic advantages that will come we will also see some technological advancements that a lot of us won't see coming and that will be so important for mankind.

Even those who us who are thinking about it can't imagine the extent of the inventions that will be possible in 10 to 20 years if enough investment and capable brains work in it.

[SixOfFive]

Hi there BTC community,

This is my first post here.
I'm a part-time researcher who's seeking for some guidance from the BTC community about research(able) topics.
My scientific interests are in a trans-disciplinary area: the social, political and economical impacts of technology in our society.
Therefore, cryptocurrencies, decentralization and fintech are some of the hot topics in my mind right now.
Especially, the impact BTC can have in the future of transparency, corruption, dismantle of status quo, democratic systems, etc.

So, in your opinion, what are the major potential changes BTC  will operate in our societies in the next 10 to 20 years?
Which are the the impacts you see as worthy of being scientifically researched?

Thank you in advance for any input you might have to give me.

It is too early to have any conclusion on socio-economical impact of BTC on society. BTC give economical liberacy but on other hand it give a free hand to corruption and illegal activities. Good things do come with its pro and cons.

[Artemis3]

Btc can have a huge economic impact in countries with hyperinflation.

For instance, the Bolivar (venezuelan currency) is hyperinflated. The people here tends to change the Bolivar for a stronger currency, most people change it for US dollars. Also there are a lot of people changing it for Bitcoin (or any other cryptocurrency) since even 0.000001btc has more value than 1 Bolivar.

When you talk about currency, you don't use the cap. This is because you want to keep separate the bolivar (currency) with the Bolivar family.

You should check this page to know the direct value of the current iteration of bolivar (which is the 3rd, after losing 8 zeroes in the past decade): https://www.bitcoinvenezuela.com/

In there you can see that currently 1 bolivar means 4 satoshis. By next month this will probably be 2 satoshis or 1. The largest Venezuelan bank note is 500, just 1841 satoshis. Venezuelan banks often limit the amount of cash you may withdraw per day, last i tried it was 6000, so 22091 satoshis.

= 1841 satoshis.
It will only get worse, inflation only speeds faster and faster every day.

In a few weeks we will have a 1 bolivar = 1 satoshi parity, it will be very short lived thought.