Cryptocurrency usage will boost economy or make it worst ?

[Silberman]

I do not think that the use of bitcoin will somehow affect the economy, because it is just a currency. The economy is primarily affected by investments and commodity circulation.
If you start using bitcoins and investing them in the country's infrastructure, then this can lead to very positive consequences.

All financial transactions should also be carried out in bitcoin, so you can switch to cryptocurrency and untie it from pricing in the context of fiat.

A currency is a medium of exchange and the way to try to answer the question about the value of each thing, so it is obvious cryptocurrencies are going to have a huge effect on the economy especially if fiat currencies begin to show their flaws and people lose their faith in them, I really think that cryptocurrencies are going to have a positive effect on the economy at large but we will need decades to see that effect on full force.

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[Spaffin]

I do not think that the use of bitcoin will somehow affect the economy, because it is just a currency. The economy is primarily affected by investments and commodity circulation.
If you start using bitcoins and investing them in the country's infrastructure, then this can lead to very positive consequences.

All financial transactions should also be carried out in bitcoin, so you can switch to cryptocurrency and untie it from pricing in the context of fiat.

A currency is a medium of exchange and the way to try to answer the question about the value of each thing, so it is obvious cryptocurrencies are going to have a huge effect on the economy especially if fiat currencies begin to show their flaws and people lose their faith in them, I really think that cryptocurrencies are going to have a positive effect on the economy at large but we will need decades to see that effect on full force.

In many countries, leadership and governments very often harm the economy and development of their state.  One of the facts of such a mediocre leadership of the country is frequent inflation due to an increase in the amount of paper money.  The government is printing new money, but does not care about the gold reserve, which should support this money.  If the cryptocurrency is used as cash, then this problem should disappear by itself, since for example Bitcoin has a limited amount.

[Eduarop]

I think that because the issuance of cryptocurrency is limited, the credit economy will not be able to get money "out of thin air". This means that the economy will develop at times slower and deflationary, which will stop people from buying goods every day

[Sanugarid]

I do not think that the use of bitcoin will somehow affect the economy, because it is just a currency. The economy is primarily affected by investments and commodity circulation.
If you start using bitcoins and investing them in the country's infrastructure, then this can lead to very positive consequences.

All financial transactions should also be carried out in bitcoin, so you can switch to cryptocurrency and untie it from pricing in the context of fiat.

A currency is a medium of exchange and the way to try to answer the question about the value of each thing, so it is obvious cryptocurrencies are going to have a huge effect on the economy especially if fiat currencies begin to show their flaws and people lose their faith in them, I really think that cryptocurrencies are going to have a positive effect on the economy at large but we will need decades to see that effect on full force.

In many countries, leadership and governments very often harm the economy and development of their state.  One of the facts of such a mediocre leadership of the country is frequent inflation due to an increase in the amount of paper money.  The government is printing new money, but does not care about the gold reserve, which should support this money.  If the cryptocurrency is used as cash, then this problem should disappear by itself, since for example Bitcoin has a limited amount.

I totally agree with this one because come to think of it if everyone is using cryptocurrency on their every transaction. It has a big effect not only on the economy but on the community also because the more we use it the more people will know about cryptocurrency and if that is continuously happening, there is a big possibility that we can gain investors to support every project on the community. There are lots of benefits when you use cryptocurrency the primary one is that it will make your transaction easier and faster than making a transaction with fiat. It is also less hassle because you can transact anywhere in the world as long as you have an internet connection.

I think that because the issuance of cryptocurrency is limited, the credit economy will not be able to get money "out of thin air". This means that the economy will develop at times slower and deflationary, which will stop people from buying goods every day

When there's lot of people already earning with an investment involving cryptocurrency. Just think that they will have a money to spend, more spending more taxes the government can get, and my opinion is that it can really help the economy. The taxes I'm saying is not on the bank but to their financial expenses already.

[whyrqa]

In my opinion, the use of cryptocurrency as a digital asset, as well as a means of payment and means of investment, cannot violate the current use of fiat national currencies, especially if everything happens legally.  In addition, in any case, this can bring a certain investment in the state, as well as improve the economy of the state.  But, if we talk about the large-scale replacement of fiat money with cryptocurrency, then in this regard, the state economy will undergo certain changes that will not always be positive, at least until then, until everything is stabilized.  But I believe that until this time it will take a very long time to wait, because in my opinion Not only the current, but also future governments in the coming years of different countries will not be ready to transfer the entire state economy and financial system to cryptocurrency.

[ekans45]

There is actually a statement, specifically the IRS 2014-21 where all virtual currencies are subjected to tax still. Therefore, stating that buying using BTC or any other crypto, is in fact, still liable to tax. As for the specifics, I don't really know but the 2014-21 already states that existing tax principles apply to transactions using virtual currency. The taxable events are Cashing out, Paying using crypto, Exchanging one crypto to another or Receiving mined crypto. These are some I just looked up in google and you can search for more information if you want specifics.

I believe that this was reasonable. It is needed that every transaction using crypto should be liable for taxation because if not it becomes an oppurtunity for many people to purchase an item using crypto. Honestly, if we dont pay tax it is somehow favorable for us but in the case of government it is not because we all know what was the real purpose of tax right?

[onrise]

For me this is a big time revolution beacuse it can solve many problems like fast and easy payment anywhere in the world with minimal fees. It can create self employment as youth can start investing or trading with minimum capital and no need to depend on somebody else to provide them a job . We have seen in past how people have a become self millionaire in bitcoin era and it can continue to be same if government allows or make it legal and support this crypto currency.

[Janation]

I can't imagine that cryptocurrency usage may have such a big influence on the world economy. I consider it as a result of the developed economy. 

Earning them though is a different question.

In a way, cryptocurrencies people have in their wallet that they got from projects and bounties can help the economy. It will not boost the economy but it can be of a help in a way. These days, usage of cryptocurrencies are not that helpful since these exchange are just accepting Bitcoin and they just convert that to fiat to pay that certain platform.

[Subbir]

Unless crypto is controlled by a government  it's unlikely that the govt will receive any tax from now on I feel the utilization of cryptocurrency won't stimulate the economy because what percentage of countries will support the crypto economy if many countries don't support crypto. performing on crypto can help boost the country's economy.

[hahay]

Nobody can avoid taxes even though they have used cryptocurrency does not mean they will avoid taxes, if that's the case then of course the use of crypto will make it worse. If cryptocurrency is used by them then it will not happen easily, at least there will be a regulation that will be applied and back again, the use of cryptocurrency is not something that you can use to avoid taxes because after all, payment of tax is important for the country's development and issues regarding corrupt country or not, that is a problem in every country.

[xen1oph]

I think in this case, the government will do everything to avoid this.
I don’t understand why everyone reasons like this? Aren't we all human? Aren't we all the same? Indeed, there are an ordinary people work in big corporations, why should they do bad things that will badly affect their own families and people around them?

[Assface16678]

Nobody can avoid taxes even though they have used cryptocurrency does not mean they will avoid taxes, if that's the case then of course the use of crypto will make it worse. If cryptocurrency is used by them then it will not happen easily, at least there will be a regulation that will be applied and back again, the use of cryptocurrency is not something that you can use to avoid taxes because after all, payment of tax is important for the country's development and issues regarding corrupt country or not, that is a problem in every country.

Cryptocurrency is the one of the popular transaction today and with the use of different coins. Crypto are consist of different coin like bitcoin, bitcoin cash, ripple and ethereum. But of the most popular coin, today is the bitcoin because it gives a good market profit to the community of crypto. Now many people would like to use now the cryptocurrency as their payment to the transaction because it is more easier to transfer funds and also it has a less transaction fee why do they want to apply this to the community but still it must need to have a lot of paper transactions to be legalized the use of crypto because a country must need the security of the users but still there is a chance it will use as payment method because it already applied by the other country.

[Ozero]

Unless crypto is controlled by a government  it's unlikely that the govt will receive any tax from now on I feel the utilization of cryptocurrency won't stimulate the economy because what percentage of countries will support the crypto economy if many countries don't support crypto. performing on crypto can help boost the country's economy.

In Japan, within a year after the cryptocurrency was legalized in this state, the economy due to cryptocurrency grew by several percent, I don’t remember how much. This was due not only to revenues in the form of taxes, but also from an increase in the general level of wealth of the population. Therefore, the unambiguous circulation of cryptocurrency in the state should positively affect its economy.

[conected]

Unless crypto is controlled by a government  it's unlikely that the govt will receive any tax from now on I feel the utilization of cryptocurrency won't stimulate the economy because what percentage of countries will support the crypto economy if many countries don't support crypto. performing on crypto can help boost the country's economy.

In Japan, within a year after the cryptocurrency was legalized in this state, the economy due to cryptocurrency grew by several percent, I don’t remember how much. This was due not only to revenues in the form of taxes, but also from an increase in the general level of wealth of the population. Therefore, the unambiguous circulation of cryptocurrency in the state should positively affect its economy.

- I know Japan is a country with a lot of interest and legalization of crypto but the information I read just stops there, I do not see statistics about the percentage of growth in the economy when they use crypto, so no matter where you read the development news, I still doubt the reliability of this source. In my mind, applying crypto only gives the country a neutral state when the population density for use is only relatively small, combined with the market capitalization that is moving in this market, it is too small to strengthen a country's economy, it can only stabilize an individual's economy

[thesmallgod]

It might affect developed nations like the UK where heavy taxes paid by the citizens are being used to develop the country through the provision of social amenities. It might further destroy corrupt countries as it will be very easy for them to still from the public and go unnoticed by completely transacting anonymously. I think this is actually part of the reason why so many countries are frowning about the use of cryptocurrencies by individuals 

[TrevorS]

If you consider your scenario, then a push in the economy can really happen, provided that the market is stable for a long time.
However, in the event of any dynamic changes in the market, there are huge risks that a large amount of money invested in cryptocurrencies
on the part of states will simply depreciate in view of the fall in cryptocurrency prices.

Other states can seize the moment to buy these cryptocurrencies or continue to speculate on falling prices.

[kooboat]

Cryptocurrencies can easily help any economic system There are many issues with fiat currency system that governments are already struggling to deal with. Some of these issues include, inflation, high cost involved in printing new notes to replace defaced currencies. Central government in many  nations are also trying  to consider ways that can help improve the economy by promoting a cashless system. I believe cryptocurrencies are one of the easiest way to promote a cashless system.

[FanatMonet]

If you consider your scenario, then a push in the economy can really happen, provided that the market is stable for a long time.
However, in the event of any dynamic changes in the market, there are huge risks that a large amount of money invested in cryptocurrencies
on the part of states will simply depreciate in view of the fall in cryptocurrency prices.

Other states can seize the moment to buy these cryptocurrencies or continue to speculate on falling prices.

And this is generally one of the biggest threats. If some country invests in some currency, then one of the strongest countries, with the help of dropping the exchange rate, can put this country on the verge of default and the collapse of all obligations to citizens.

[verita1]

I don't think there is a possibility of large corporations adopting cryptography for their payments with the intention of evading taxes. The Governs would look for ways to tax cryptocurrencies some tax. I think that developed nations would not stop using fiat for cryptocurrencies. What I have seen is nations with economic problems and inflation with the interest of using cryptocurrencies.

[iamsheikhadil]

You are true to say in developing countries it will benefit us more as tax money is looted by the politicians and they loot us of our rights. In developed countries, companies can be forced or sanctioned if they don't show their earnings.