Boost of a countries economy

[TheGreatPython]

Diversification of economy by not focusing mainly on one major source of income boost and increase the economy to a large extent, as well limiting the losses....in a country tourism, technology, Agriculture and Sports mainly football will grow and boost an economy vastly.....why some Countries suffered during the Covid 19 pandemic is all because they focused and operated in one section to generate income, so boosting of an economy can also be achieved in different ways including crypto currency.

You are totally right about that, a country shouldn’t just focus in one particular area to generate income. A country should focus on diverse areas for them to be able to generate income and grow their economy.

I have seen countries where they just focused on their mineral resources or things like that to be generating income for the country but that is totally wrong, because one day something might happen that might affect that country in that particular area and that means there will be no other means for them to generate income and the economy is going to suffer. The government should focus in a lot of things like agriculture , sports , tourism,cryptocurrency and so many more, and they will see their economy growing.

[1715296026]

1715296026

[molsewid]

The thing is, there will most prolly not be a good relationship between Bitcoin and governments, and that's basically just cause Bitcoin is decentralized and governments like to work with only centralized services that they can control either completely or to a certain extent, it's quite clear to governments of today that it's impossible for them to get a foothold on Bitcoin, thus they will rather sanction/ban/regulate it than adopt it.

Having said that, as far as a country's economy is concerned, I think there are very few ways Bitcoin can be of help, Bitcoin is money and you'll most likely need to have money in fiat to get Bitcoin or offer one service or the other to get it, it is not distributed for free, and even if many citizens of a country hold Bitcoin, I don't see how it can positively affect the economy. It's the duty of the government to provide what is necessary in order to improve their economic situation, if the government does such, then Bitcoin can only be an addition.

One reason why some countries still didn't make a decision whether to make bitcoin or cryptocurrency a legal tender is because they don't have any control about this decentralized platform however it is amazing to know that El Salvador adopted this digital platform legally in their country. I believe that cryptocurrency is one of the way to boost of a countries economy but this would also take time to implement in an economy because the government bodies will surely take time to review and study the pros and cons on the said platform.

[Ucy]

You shouldn't be too worried about that as long as you use crypto the way it's supposed to be use. If you use a well decentralized and safe cryptocurrency, you can still exist within the system, contribute to the economy and the government won't have any legitimate reason to stop you as long as you are not causing problems. Remember, one of the purposes of crypto is to help people survive in very uncertain times not to compete with the system. I prefer that they do not see anyone as threat.

[Kong Hey Pakboy]

Bitcoin can help improve a country's economy a bad situation in the country causes a recession in the country's economy. But there is no such step for bitcoin the market improves depending on the demand if the government adopts crypto it will be easier to launch planned economic activities implement higher allocations for the health agriculture and social security sectors, and implement effective reforms in certain areas including the banking and tax sectors which will soon boost the country's economy.

Bitcoin alone won't help, it's just too low in price for a country to be able to help with the problems in economy, remember that it's not just the money that's a problem in a country and not all of those can be covered by bitcoin.

[Wawa2013]

The thing is, there will most prolly not be a good relationship between Bitcoin and governments, and that's basically just cause Bitcoin is decentralized and governments like to work with only centralized services that they can control either completely or to a certain extent, it's quite clear to governments of today that it's impossible for them to get a foothold on Bitcoin, thus they will rather sanction/ban/regulate it than adopt it.

Having said that, as far as a country's economy is concerned, I think there are very few ways Bitcoin can be of help, Bitcoin is money and you'll most likely need to have money in fiat to get Bitcoin or offer one service or the other to get it, it is not distributed for free, and even if many citizens of a country hold Bitcoin, I don't see how it can positively affect the economy. It's the duty of the government to provide what is necessary in order to improve their economic situation, if the government does such, then Bitcoin can only be an addition.

One reason why some countries still didn't make a decision whether to make bitcoin or cryptocurrency a legal tender is because they don't have any control about this decentralized platform however it is amazing to know that El Salvador adopted this digital platform legally in their country. I believe that cryptocurrency is one of the way to boost of a countries economy but this would also take time to implement in an economy because the government bodies will surely take time to review and study the pros and cons on the said platform.

Cryptocurrency can indeed be a source of income, therefore it makes sense that countries that legalize cryptocurrencies will increase their
economy. But to improve the economy of a country with cryptocurrencies it can be done but it does take time and patience. Because cryptocurrency
does not provide instant profit, but must go through various kinds of processes that are quite long. El Salvador is an example of a country that
strongly supports cryptocurrencies, El Salvador does not mind that Bitcoin cannot be controlled. El Salvador still makes Bitcoin a legal tender,
even though many big countries don't have the courage to legalize Bitcoin. Hopefully El Salvador can prove to other countries the economy has
improved since legalizing Bitcoin, so it can be followed by other countries.

[Rockstarguy]

With what you think currently, Crypto currency is one of the major things I think, that has contributed greatly to the growth of a country economy.
It will be totally improper for a country to channel all of its or their sources of income in one direction,the government kicking against crypto currencyus not right and fair from my own perception.

I do not agree with this post, crypto-currency is not a major source of. Contributions to a country economy, developed or under-developed countries, resources like agriculture, petroleum, tourism, human resources, nature has been contributing to nations economy, I believe in crypto-currency but I don't think it's has contributed to any  country majorly than the countries other economy,
Infact one source of contributions that the government's get from crypto-currency is taxation and this has become a rip-off to crypto-currency enthusiast especially long term holders, I think crypto-currency has contributed to individuals and countries with self less government.

Like in Africa majority of citizens are into
Cryptocurrency investment. And most of this citizens are self employed , they generate money from cryptocurrency . In this case this have contributed to the countries economy

[Natalim]

With what you think currently, Crypto currency is one of the major things I think, that has contributed greatly to the growth of a country economy.
It will be totally improper for a country to channel all of its or their sources of income in one direction,the government kicking against crypto currencyus not right and fair from my own perception.

I do not agree with this post, crypto-currency is not a major source of. Contributions to a country economy, developed or under-developed countries, resources like agriculture, petroleum, tourism, human resources, nature has been contributing to nations economy, I believe in crypto-currency but I don't think it's has contributed to any  country majorly than the countries other economy,
Infact one source of contributions that the government's get from crypto-currency is taxation and this has become a rip-off to crypto-currency enthusiast especially long term holders, I think crypto-currency has contributed to individuals and countries with self less government.

Like in Africa majority of citizens are into
Cryptocurrency investment. And most of this citizens are self employed , they generate money from cryptocurrency . In this case this have contributed to the countries economy

Crypto is a tool that can boost individual's economy and when progress is already taking place to its individuals, then it will lead to boosting of country's economy. Cryptocurrency then can be a good source of income for people especially those who have lost their jobs in this crazy time.

However, not all people agreed to this because even the government considers crypto a threat to all people particularly with bitcoin which is always involved in different ponzi scheme.

[oHnK]

However, not all people agreed to this because even the government considers crypto a threat to all people particularly with bitcoin which is always involved in different ponzi scheme.

Actually everyone can accept BTC and Crypto well if everyone has a good level of financial literacy, regarding the government not supporting it is a natural thing because with the existence of crypto with a decentralized system, their authority is reduced. Without absolute power from the government or they lack power, the people will not be subject to their rules. The disruption that exists in the development of Crypto is very large, but it is actually a solution to our broken monetary system.

[The Cryptovator]

I know Bitcoin keeping a role in the economy. But it can't rule the economy right now. We don't what will happen after hundreds of years and we don't need to know as well since we will not alive till then. If a country fully legalizes Bitcoin then it would help to boost the economy. Otherwise, we can't see much effect of Bitcoin on the overall economic system. To boost the economy we have to maintain so many things, if it was soo easy then the poor country could boost their economy just by allowing or legalizing Bitcoin. As I said, Bitcoin would only help, can't rule in this current scenario.

[uneng]

However, not all people agreed to this because even the government considers crypto a threat to all people particularly with bitcoin which is always involved in different ponzi scheme.

Actually everyone can accept BTC and Crypto well if everyone has a good level of financial literacy, regarding the government not supporting it is a natural thing because with the existence of crypto with a decentralized system, their authority is reduced. Without absolute power from the government or they lack power, the people will not be subject to their rules. The disruption that exists in the development of Crypto is very large, but it is actually a solution to our broken monetary system.

Governments will say they don't support crypto currency because its volatility, which may cause their citizens to lose their investments' value after a crash in the market, what will prejudice the country's economy in this case. However, what govenments don't mention is that their own fiat currencies are causing exactly what they most fear about crypto currencies, in lower doses.
I mean, people are losing their money's value year after year by holding it in fiat currencies which are considered "safe" by governments and there isn't any self-criticism regards this matter from their side.

Crypto currencies might fail at some point, but they are better than fiat currencies that are already known for being a complete failure on long run.

[beerlover]

The thing is, there will most prolly not be a good relationship between Bitcoin and governments, and that's basically just cause Bitcoin is decentralized and governments like to work with only centralized services that they can control either completely or to a certain extent, it's quite clear to governments of today that it's impossible for them to get a foothold on Bitcoin, thus they will rather sanction/ban/regulate it than adopt it.

Having said that, as far as a country's economy is concerned, I think there are very few ways Bitcoin can be of help, Bitcoin is money and you'll most likely need to have money in fiat to get Bitcoin or offer one service or the other to get it, it is not distributed for free, and even if many citizens of a country hold Bitcoin, I don't see how it can positively affect the economy. It's the duty of the government to provide what is necessary in order to improve their economic situation, if the government does such, then Bitcoin can only be an addition.

I do not agree with that at all. First of all you are probably talking about big nations, because "bitcoin and governments do not have a good relation" is destroyed by the fact that El Salvador literally made it a legal tender. Secondly in USA we have coinbase both being super legal and nobody says anything about it AND it got to be in the stock market as well, nobody will let an illegal company be there so it is totally legit.

In many other nations' exchanges are there and nobody says anything about it. Do you really think that exchanges are alright but coin itself is not? What is the point of the exchange if the coins are not alright? So, it is obvious that there is a good chance we are talking about something that is fine by governments. I think there are few, North Korea, china and the likes may not like it that is understandable but that's about it.

[Shenzou]

With what you think currently, Crypto currency is one of the major things I think, that has contributed greatly to the growth of a country economy.
It will be totally improper for a country to channel all of its or their sources of income in one direction,the government kicking against crypto currencyus not right and fair from my own perception.

Diversification of economy by not focusing mainly on one major source of income boost and increase the economy to a large extent, as well limiting the losses....in a country tourism, technology, Agriculture and Sports mainly football will grow and boost an economy vastly.....why some Countries suffered during the Covid 19 pandemic is all because they focused and operated in one section to generate income, so boosting of an economy can also be achieved in different ways including crypto currency.

It wouldn't be bad idea if Y'all can share your thoughts and ideas about this from your own point of view.

I don't think that bitcoin can highly influence the economy of a country, because it is not itself a resource but rather a tool, with accepting bitcoin government could open up a lot of many opportunities for companies and people to make faster transactions and without the need to relay on the banks, and that could lay the ground for the economy to actually diversify and grow on it is own.

[naikturun]

a country's income is indeed better at diversification which means it must have several ways and not focus on only 1, such as el savador which states their country's currency is bitcoin, in my opinion it is bad because the influence of bitcoin prices can have an impact on the country itself. so the idea of ​​accepting and legalizing transactions using crypto is good but making crypto into a country's currency is still too risky in my opinion.

[oHnK]

However, what govenments don't mention is that their own fiat currencies are causing exactly what they most fear about crypto currencies, in lower doses.
I mean, people are losing their money's value year after year by holding it in fiat currencies which are considered "safe" by governments and there isn't any self-criticism regards this matter from their side.

this is the most obvious nonsense from the government, sometimes I feel sad about the condition of people's financial literacy in my country which is still very low. They worked day and night and made money only to deposit in their bank accounts. Though, it was of no use. Indeed they have worked hard for a good life but were betrayed by this very bad monetary system. Fiat being saved day by day is decreasing, even economists have understood this and clearly studied "the concept of time value of money" but they seem to be pretending to be blind to this rotten concept.

[uneng]

However, what govenments don't mention is that their own fiat currencies are causing exactly what they most fear about crypto currencies, in lower doses.
I mean, people are losing their money's value year after year by holding it in fiat currencies which are considered "safe" by governments and there isn't any self-criticism regards this matter from their side.

this is the most obvious nonsense from the government, sometimes I feel sad about the condition of people's financial literacy in my country which is still very low. They worked day and night and made money only to deposit in their bank accounts. Though, it was of no use. Indeed they have worked hard for a good life but were betrayed by this very bad monetary system. Fiat being saved day by day is decreasing, even economists have understood this and clearly studied "the concept of time value of money" but they seem to be pretending to be blind to this rotten concept.

Yes, that is true. I also know some people who worked hard their whole life, always saving maximum money as possible on those standard bank saving accounts which in some years generate less interest percentage than the inflation of the country. Even worse are those who were used to store their money under the mattress.
After decades of hard work all these people can purchase is a television, secondhand car or a cheap motorcycle with a lot of effort and in large time intervals yet.

I imagine if these people had proper guidance regards finances since they started working for the first time how their life would be right now. I believe the fulfillment feeling would be much stronger on them this way.

[AicecreaME]

With what you think currently, Crypto currency is one of the major things I think, that has contributed greatly to the growth of a country economy.
It will be totally improper for a country to channel all of its or their sources of income in one direction,the government kicking against crypto currencyus not right and fair from my own perception.

Diversification of economy by not focusing mainly on one major source of income boost and increase the economy to a large extent, as well limiting the losses....in a country tourism, technology, Agriculture and Sports mainly football will grow and boost an economy vastly.....why some Countries suffered during the Covid 19 pandemic is all because they focused and operated in one section to generate income, so boosting of an economy can also be achieved in different ways including crypto currency.

It wouldn't be bad idea if Y'all can share your thoughts and ideas about this from your own point of view.

I beg to disagree. Cryptocurrency isn't really one of the major contributors to economic growth. Most countries aren't even open with the idea of welcoming crypto in their place, hence, invalidating your assumption right away. It can be one of the contributing factors, but I doubt it will be on the top spot because most countries do not really rely on volatile and speculative assets. Right now, the majority of the countries all over the world are relying on different aspects and field of industry to make their economy grow. For instance, the countries in Southeast Asia rely on their agriculture, fishery, tourism, big business, and macro, small, medium enterprises.

Although despite this, crypto really paved way for giving the citizens opportunities to generate income amidst the pandemic, which is a good thing because people aren't only relying on the government alone, but also have a source of income on their own. Crypto can be of great help, some countries have seen that already and I hope more countries would see it too.

[LUCKMCFLY]

With what you think currently, Crypto currency is one of the major things I think, that has contributed greatly to the growth of a country economy.
It will be totally improper for a country to channel all of its or their sources of income in one direction,the government kicking against crypto currencyus not right and fair from my own perception.

Diversification of economy by not focusing mainly on one major source of income boost and increase the economy to a large extent, as well limiting the losses....in a country tourism, technology, Agriculture and Sports mainly football will grow and boost an economy vastly.....why some Countries suffered during the Covid 19 pandemic is all because they focused and operated in one section to generate income, so boosting of an economy can also be achieved in different ways including crypto currency.

It wouldn't be bad idea if Y'all can share your thoughts and ideas about this from your own point of view.

It is that the diversification of the economy will be a fact in a few years, since El Salvador has already begun, but some countries or the rulers of many countries must accept that they will no longer be able to steal and commit acts of corruption as before, but rather have to accept that the Progress will come at any moment, it is a current, if they do not accept the crypto world they would be becoming very outdated, what OP describes is the ideal, but to reach something similar it takes a lot of effort on the part of politicians, banks, among others .

What you describe, I put a period of no more than 10 years and that we are at least living in two types of economies about to merge, which is the traditional one and the one offered by Btc and cryptocurrencies.

[Desmong]

Crypto has nothing to do with a country economy which is the reason why the Chinese government decided to attract bitcoin seller and miner away because the citizens had started patronizing Bitcoin rather than there own current which can affect the current to fall if there is excess in the market making it surplus. Bitcoin has no affiliate with any currencies but stand for quick mean of running transactions.

[Oceat]

Bitcoin can help improve a country's economy a bad situation in the country causes a recession in the country's economy. But there is no such step for bitcoin the market improves depending on the demand if the government adopts crypto it will be easier to launch planned economic activities implement higher allocations for the health agriculture and social security sectors, and implement effective reforms in certain areas including the banking and tax sectors which will soon boost the country's economy.

Bitcoin alone won't help, it's just too low in price for a country to be able to help with the problems in economy, remember that it's not just the money that's a problem in a country and not all of those can be covered by bitcoin.

I might have to agree on this since what the country really need is a good trade of every products they have to another country which will going to boost the country's economy such as rice, corn, oil and other products that they can export to another country. Bitcoin alone is not going to help it but it might be helpful to those people who haven't had a job to make some money in order to live.

And Bitcoin has other use than using it as a means of boosting the country's economy. El Salvador for example is just started to use Bitcoin as their own currency and we never knew what will going to happen to them once there's a bear market so it's still in a development or adjustment how their country would react to that.

[Hippocrypto]

With what you think currently, Crypto currency is one of the major things I think, that has contributed greatly to the growth of a country economy.
It will be totally improper for a country to channel all of its or their sources of income in one direction,the government kicking against crypto currencyus not right and fair from my own perception.

Diversification of economy by not focusing mainly on one major source of income boost and increase the economy to a large extent, as well limiting the losses....in a country tourism, technology, Agriculture and Sports mainly football will grow and boost an economy vastly.....why some Countries suffered during the Covid 19 pandemic is all because they focused and operated in one section to generate income, so boosting of an economy can also be achieved in different ways including crypto currency.

It wouldn't be bad idea if Y'all can share your thoughts and ideas about this from your own point of view.

Democratic country shouldn't be harsh on people with Independence on their finances, because their asset would literally go towards spending on local commodities. If they're going to use their money on local products the entire country will benefit. The circulation will still continue, as individuals have to convert their cryptocurrency to fiat cash. Economy still continue to grow even though government will not implement a strict regulations towards individuals who used cryptocurrency as their life sustaining income.