Bitcoin can be useful for a troubled economy

[ecnalubma]

According to the report of Goldman Sachs, Bitcoin and other crypto-currencies can be a good alternative to the national currency for countries with an unstable economy.

It can help somehow specially those countries with hyperinflation status like Zimbabwe and Venezuela were money almost useless as a tool to purchase anything. In that case Bitcoin will soar because of the demand, and people in that particular country can enjoy the benefit of it. The only question is, will  their government will allow circulation of cryptocurrency?

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[zidanw]

According to the report of Goldman Sachs, Bitcoin and other crypto-currencies can be a good alternative to the national currency for countries with an unstable economy.

It can help somehow specially those countries with hyperinflation status like Zimbabwe and Venezuela were money almost useless as a tool to purchase anything. In that case Bitcoin will soar because of the demand, and people in that particular country can enjoy the benefit of it. The only question is, will  their government will allow circulation of cryptocurrency?

Maybe with digital currencies can be a solution when money is no longer valuable right? because between digital currency and ordinary money are also different so in my opinion this is one option from the government in the process to get out because of the economic crisis in the country

[kexet_mine]

I agree. Why, in principle, do not make a single fixed currency throughout the world?

[Murat]

I don't know how could it be a friend for a troubled economy? I think Bitcoin is just a self-development tools, you can enjoy a lot by this platform if you can gain a lot. if we think the gross level then there is a doubt regarding this issue, Only self-development is not only the good indicators of a good economy but in a troubled economy, it's good due to some reasons, When your government can't provide the basics of human life then they should provide the independence of monetary issue, like Bitcoin, it's very useful to the individual progress, Bitcoin has a lot of options to make money such as trading, mining, holding, short term trading, long term trading and so on. so it might be a good platform for a troubled economy.

[tungaqhd]

Goldman Sachs: Bitcoin can be useful for a troubled economy

According to the report of Goldman Sachs, Bitcoin and other crypto-currencies can be a good alternative to the national currency for countries with an unstable economy.

 Analysts at Goldman Sachs Zack Pandle and Charles Himmelberg said that digital currencies and, in particular, Bitcoin, can become a viable means of payment in countries where traditional money is not sufficiently provided.

Goldman Sachs experts: crypto-currencies can help the troubled economy

But how will they earn bitcoin? Same logic goes to how they can earn fiat? Fiat or cryptocurrency, there must be a means to earning them. Sure, cryptocurrency could open up new opportunities but I don't think a large percentage could utilize it, especially for third-world countries. It does, however, provide ease in transactions, removing limits and intermediary. It could be, as it said, me another means of payment, but I don't really know if all of these would do better to a slow economy. Given that bitcoin transactions require network connection, and validation is not that fast, it will still be a theory.

Your analysis is very accurate, Bitcoin can easily become a payment method but the government how to manage it when it is too secure about user information, besides this, people of that country really love this method and accept it, even if they have enough money to be able to buy some bitcoin or mine. And another theory, some people's economy is better with bitcoin but whether with a country or even a lot of people, will it really work with all or will it work with very few people?

[Peashooter]

In Venezuela the bitcoin is already used by their banks because of their problem about their economy. They are using the cryptocurrency right now in order to get back their past economy, as we can see in the news Venezuela trashes their fiat money or their national currency and they are using digital money in order to buy some goods or products in different stores. I saw also a meme that their paper money is already trash in some road and no one cares about it because those don't have any value.

[agentx44]

Goldman Sachs: Bitcoin can be useful for a troubled economy

According to the report of Goldman Sachs, Bitcoin and other crypto-currencies can be a good alternative to the national currency for countries with an unstable economy.

 Analysts at Goldman Sachs Zack Pandle and Charles Himmelberg said that digital currencies and, in particular, Bitcoin, can become a viable means of payment in countries where traditional money is not sufficiently provided.

Goldman Sachs experts: crypto-currencies can help the troubled economy

Maybe it can or maybe it cannot, we are just formulating straight hypothesis right now since there are no proofs yet about it and there are no physical proof that a country's economy was saved by bitcoin. If ever we are going to give it a try, I think there's a probability that the economy will rise since crypto implies the use of monetary system with no tax involved and the government also doesn't have a hold on it. It can also make things worst since crypto has very volatile value which means it can betray us and have its price go down hard leading to a much poorer economy.

[Triffin]

Goldman Sachs: Bitcoin can be useful for a troubled economy

According to the report of Goldman Sachs, Bitcoin and other crypto-currencies can be a good alternative to the national currency for countries with an unstable economy.

 Analysts at Goldman Sachs Zack Pandle and Charles Himmelberg said that digital currencies and, in particular, Bitcoin, can become a viable means of payment in countries where traditional money is not sufficiently provided.

Goldman Sachs experts: crypto-currencies can help the troubled economy

yes i think that statement is true. Venezuela is a country that is experiencing an economic crisis. this country is experiencing hyperinflation. the value of the bolivar currency is falling. so find a solution to overcome this problem. if they take out debt, it will make things worse so they choose another alternative, which is to use bitcoin cryptocurrency. the last few years the demand for bitcoin in venezuela has continued to increase. some residents now use bitcoin for everyday transactions.

This is nice advancement in the journey of bitcoin and its general acceptance by people. All other countries shall also follow the strategy of this state and make bitcoin legal. They shall allow their people to seek advantage of this latest technology for living better lives. Venezuela is I guess also launching bitcoin ATM to help their people.

[Webetcoins]

Goldman Sachs: Bitcoin can be useful for a troubled economy

According to the report of Goldman Sachs, Bitcoin and other crypto-currencies can be a good alternative to the national currency for countries with an unstable economy.

 Analysts at Goldman Sachs Zack Pandle and Charles Himmelberg said that digital currencies and, in particular, Bitcoin, can become a viable means of payment in countries where traditional money is not sufficiently provided.

Goldman Sachs experts: crypto-currencies can help the troubled economy

yes i think that statement is true. Venezuela is a country that is experiencing an economic crisis. this country is experiencing hyperinflation. the value of the bolivar currency is falling. so find a solution to overcome this problem. if they take out debt, it will make things worse so they choose another alternative, which is to use bitcoin cryptocurrency. the last few years the demand for bitcoin in venezuela has continued to increase. some residents now use bitcoin for everyday transactions.

This is nice advancement in the journey of bitcoin and its general acceptance by people. All other countries shall also follow the strategy of this state and make bitcoin legal. They shall allow their people to seek advantage of this latest technology for living better lives. Venezuela is I guess also launching bitcoin ATM to help their people.

The launching of bitcoin ATM is a proof that world has started realizing the worth and power of bitcoin about changing the financial statuses of people. People are if provided with real knowledge about the worth of bitcoin, I am sure soon the whole world would be after bitcoin. Many other countries trying to improve their economy will follow Venezuela.

[alyssa85]

Goldman Sachs: Bitcoin can be useful for a troubled economy

According to the report of Goldman Sachs, Bitcoin and other crypto-currencies can be a good alternative to the national currency for countries with an unstable economy.

 Analysts at Goldman Sachs Zack Pandle and Charles Himmelberg said that digital currencies and, in particular, Bitcoin, can become a viable means of payment in countries where traditional money is not sufficiently provided.

Goldman Sachs experts: crypto-currencies can help the troubled economy

But how will they earn bitcoin? Same logic goes to how they can earn fiat? Fiat or cryptocurrency, there must be a means to earning them. Sure, cryptocurrency could open up new opportunities but I don't think a large percentage could utilize it, especially for third-world countries. It does, however, provide ease in transactions, removing limits and intermediary. It could be, as it said, me another means of payment, but I don't really know if all of these would do better to a slow economy. Given that bitcoin transactions require network connection, and validation is not that fast, it will still be a theory.

There are a lot of Venezuelans on Steemit who earn Steem and then exchange it for bitcoin.

I expect Steemit, Trybe and other methods of earning through writing will get popular if the economy tanks and people are actively looking for new methods of earning.

[HarmonyA]

Bitcoin can be utilized to bypass capital controls.

The wild swings of Bitcoin may appear to be unsafe however troubled economies may discover the swings bearable when their local currency has been in a sharp decrease more than quite a while without any indications of lessening.
As it were, numerous worldwide shoppers may consider  bitcoin to be a support against expansion since the quantity of crypto available for use is scientifically restricted after some time.