Is Bitcoin good for the economy?

[plvbob0070]

Rather than the economy, I would say bitcoin is good for the individuals, such as opportunities, and freedom. But since bitcoin is still not widely accepted or recognized by everyone, the good or the advantages of bitcoin can only be felt by limited people, and those are the one who uses bitcoin. Since we are using bitcoin, we know the pros and the benefit of it that we are looking for.

However, bitcoin is not widely accepted yet, so those things mentioned above still cannot be felt in the economy. But imagine if bitcoin achieved mass adoption, not only individuals will realize what bitcoin can do, also the whole economy.

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[mezzaluna]

In our country, we actually do not know if it would do any better to our current economical status. Bitcoin in our country is somehow branded as a scam since people are not knowledgeable enough about it and that is kinda sad since the Cryptocurrency Industry has a lot of potential. Bitcoin might be good to the economy but it needs proper guides on how people can use it fairly since most government do not want fair transactions involving money.

[BITCOIN4X]

~snip

Its hard to realize because we dont know what happened next with bitcoin. So far bitcoin has provided various benefit for user and it is much better. Bitcoin will of course continue to be developed and its application will also increase over time.

Some economic observer will consider bitcoin as a threat to a country economy. I am not sure about that because personally I as a bitcoin user can feel the benefit such as profit through investment and trade. But they also have their own view, as long as it doesnt bother us so let them talk.

[peterpanda]

In our country, we actually do not know if it would do any better to our current economical status. Bitcoin in our country is somehow branded as a scam since people are not knowledgeable enough about it and that is kinda sad since the Cryptocurrency Industry has a lot of potential. Bitcoin might be good to the economy but it needs proper guides on how people can use it fairly since most government do not want fair transactions involving money.

You are right that there are still many country where bitcoin is not much familiar and most of the people don't know what is bitcoin. It will available when bitcoin will be spreading all places.

[deisik]

Rather than the economy, I would say bitcoin is good for the individuals, such as opportunities, and freedom

In general, you can't separate one thing from the other

What is good for individuals is good for the economy. Economy is a broad term which is made up of households and individual people at the most basic level. Indeed, there are specific cases when certain groups of people are better off at the expense of other people (e.g. elites), and in this case the economy at large suffers too. Whether Bitcoin and its holders can be considered harmful for the economy as a whole is a matter of debate

[eduartox]

Of course yes, cryptocurrencies are of great help to the economy, many foundations are now receiving donations in cryptocurrencies and many platforms today are used to make donations and receive, an example of this platform is MintMe. This platform is a cryptocurrency exchange with a simple idea, you can monetize any idea you have by creating a crypto token for it and offer it for money to potential investors and fans.

[finaleshot2016]

Bitcoins have three useful qualities in a currency, according to The Economist in January 2015: they are "hard to earn, limited in supply and easy to verify". Economists define money as a store of value, a medium of exchange and a unit of account, and agree that bitcoin has some way to go to meet all these criteria.

Actually ,it just easy to earn bitcoin if you have money to buy it. And if you have money try to join campaign that promoting different projects and pay you with their tokens then exchange it to bitcoin. Very easy. Bitcoin is good for economy if it will just mix to a fiat money because they have different value and features. You know government is very allergic in Decentralized currency ,so it's difficult for them to accept bitcoin as part of the economy.

Well, agree that it's easy to get bitcoin right now. You just need to wait for the right timing and buy a lot of bitcoon at low price. Bitcoin isn't that hard to earn nowadays and you can see a lot of platforms that gives free BTC. Bitcoin is surely have good effect on the economy since people are getting profit into it through investments.

[Kasabus]

Of course yes, cryptocurrencies are of great help to the economy, many foundations are now receiving donations in cryptocurrencies and many platforms today are used to make donations and receive, an example of this platform is MintMe. This platform is a cryptocurrency exchange with a simple idea, you can monetize any idea you have by creating a crypto token for it and offer it for money to potential investors and fans.

Cryptos like bitcoin would be a great help for the economy if the people are earning it and have used it for their economic growth. But i doubt if companies today would prefer to make bitcoin as a salary for their workers as bitcoin has higher value compared to usd. But earning bitcoin alone is very good for our economy since it has its own useful qualities different from fiat.

[MCobian]

I agree that Bitcoin is very good for the economy, if you look at transactions using Bitcoin are much faster and the fees are far
cheaper than using fiat currency. Because for a country's economy to develop rapidly, transactions must occur fast finance between
countries. And with Bitcoin, each individual can increase his economy just by buying Bitcoin and save it the next few years, when
the price of Bitcoin managed to rise high, automatically our wealth also increased.

[romero121]

Gold is a part of the economy. Just based on the gold we can't term ones economy. In simple gold is mined from the African countries, does that mean the respective country is good in its economy.

The consumption to the productivity defines the economy. Even if it is a very low valued, it has its contribution to the economy. One thing, gold has attained a position to be trusted. For that reason, its been given importance as a reserve source and to boost up the economy on need.

[Janation]

~snip

Its hard to realize because we dont know what happened next with bitcoin. So far bitcoin has provided various benefit for user and it is much better. Bitcoin will of course continue to be developed and its application will also increase over time.

Some economic observer will consider bitcoin as a threat to a country economy. I am not sure about that because personally I as a bitcoin user can feel the benefit such as profit through investment and trade. But they also have their own view, as long as it doesnt bother us so let them talk.

I guess that is because of the anonimity it offers.

We doesn't pay taxes to our cryptocurrencies or the profits we are having, I guess that is the reason why they look at it as a threat. If more people would be using it, then more people would be able to evade taxes earned from it. Still, I agree since there are still a lot of convinience of it but I think it is not majorly for the economy of the country.

[SANihal02]

The price of Bitcoin is rising. Bitcoin prices are likely to fall at any time. Everything in the world has its ups and downs. As much as Bitcoin has many risks, it also has many good aspects. Now everyone wants to buy bitcoin. As long as prices continue to rise, many will benefit.

[Heart18]

For some people who are jobless, its quite great to work here in Cryptoworld and earn bitcoin than doing nothing at home. And I think its good for the economy too, because everytime we earned bitcoin and converted it to fiat, we will be able to buy essential goods for daily living and we can help the market with that.
Yes, I agree that Bitcoin is limited in supply but as mentioned already here, it can be forked.
Lastly, I think its not that hard to earn if you'll just strive hard and knows everything about mining-there are lots of mining sites if you'll try to research about it. And if you have lots of money, you can also easily buy bitcoins on exchanges and send it directly to your digital wallet.

[KennedyAbuel]

Bitcoins have three useful qualities in a currency, according to The Economist in January 2015: they are "hard to earn, limited in supply and easy to verify". Economists define money as a store of value, a medium of exchange and a unit of account, and agree that bitcoin has some way to go to meet all these criteria.

i don't think that earning bitcoin is hard. Let's just that this post of your's one step for earning bitcoin. Almost all of us here in this forum is here to earn money. Practically saying you won't waste a time to post something here if you don't have interest on money

[Mauser]

excellent bitcoin investment and preservation for the bitcoin economy helps a rustic to prosper the worth of the fiat currency has plummeted because the country's economy has been hit by the consequences of the epidemic the incredible price explosion of bitcoin has shaken everyone. Nobody can play it anymore this has affected the economies of all and developing countries That's why most are legalizing btcoin to enhance the country's economy and increasing bitcoin investment.

I agree, there is no point in governments baning bitcoins. It's the future. First of all it's another form of financial asset that helps individuals to diversify their portfolios. Having less exposure to FIAT currencies and more investments in crypto currencies helps any investors. The world became so connected through the internet that it definitely needs it's own currency to connect all countries without going through banks and paying a lot of fees. For me bitcoins is something like the internet currency, paypal would have loved to be that but it's still based on FIAT currencies.

[cryptoboss2020]

btc is not goo and not bad its just the vechile to hold your money or move money.
btc price goes up if there is demand to buy btc to have demand to buy there need to be reason to buy btc.
if there not enough reason then price will drop down until we see the price is low enought to buy it but this is just speculation and not sustaineble for long term the sustaineble is when we have good reason to buy btc.

nothing more nothing less

[kotajikikox]

I agree that Bitcoin is very good for the economy, if you look at transactions using Bitcoin are much faster and the fees are far
cheaper than using fiat currency. Because for a country's economy to develop rapidly, transactions must occur fast finance between
countries. And with Bitcoin, each individual can increase his economy just by buying Bitcoin and save it the next few years, when
the price of Bitcoin managed to rise high, automatically our wealth also increased.

Your last statement is true, once the value of bitcoin increase it's automatically increase our wealth,

But it is not always like that, there are chance due to volatilities the
value also will fall. In terms of economy their are many

digital money that can be use to transact, bitcoin is an addition to
this line, good thing is you are investing while you are holding this asset.

[Nellayar]

Rather than the economy, I would say bitcoin is good for the individuals, such as opportunities, and freedom. But since bitcoin is still not widely accepted or recognized by everyone, the good or the advantages of bitcoin can only be felt by limited people, and those are the one who uses bitcoin. Since we are using bitcoin, we know the pros and the benefit of it that we are looking for.

However, bitcoin is not widely accepted yet, so those things mentioned above still cannot be felt in the economy. But imagine if bitcoin achieved mass adoption, not only individuals will realize what bitcoin can do, also the whole economy.

It will create an impact in economy even bitcoin is good in every individuals as of now. The opportunities that bitcoin and cryptocurrency open to the people can help to decrease the unemployment rate. It is a win-win sotuation for all of us. I am sure also that the pioneers of bitcoin are the most successful people in the future. Specially when bitcoin becomes the mainstream. As of now, we just need to spread the word of bitcoin to our neighborhoods.

[Emitdama]

Bitcoins have three useful qualities in a currency, according to The Economist in January 2015: they are "hard to earn, limited in supply and easy to verify". Economists define money as a store of value, a medium of exchange and a unit of account, and agree that bitcoin has some way to go to meet all these criteria.

Nah, there is nothing that is not hard to earn, even the USD is hard to earn man. You can’t be walking on the road and be picking up free dollars, can you?

Nah, you can’t, rather you will have to get a job and work hard to make your dollars; the money doesn’t come free just like that, you will always have to do something to get it. That’s the same thing with Bitcoin, you will have to either work hard for you to be able to earn it or you will use your money (which also came through hard work) to purchase the Bitcoin. And Bitcoin doesn’t contribute to our economy, although it can better the life for people.

[rollingdice]

I agree that Bitcoin is very good for the economy, if you look at transactions using Bitcoin are much faster and the fees are far
cheaper than using fiat currency.

I can't agree that Bitcoin transactions are faster than transactions in fiat. Sometimes it takes much time to get transactions approved, while Visa or MasterCard transactions are instant.