Boost of a countries economy

[MrcMrc]

I think when countries talk of diversification of their economy the best possible option is to diversify the currency and cryptocurrency is the way to go, as it will help boost the economy in a faster way that is if a thing goes well, but again, why most countries are afraid of crypto as an option to boost the economy is because of its nature which is decentralization and unpredictability of its price.

[Kittygalore]

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.

Yes it has something to do, anything that has financial in their name is going to affect a countries economy and bitcoin is a financial tool so I don't think that it wouldn't affect the economy of a country, I mean the people who use bitcoin are still buying stuff in their country and those stuff are taxed so it does have some effect to the economy of a country.

[ultrloa]

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.

Yes it has something to do, anything that has financial in their name is going to affect a countries economy and bitcoin is a financial tool so I don't think that it wouldn't affect the economy of a country, I mean the people who use bitcoin are still buying stuff in their country and those stuff are taxed so it does have some effect to the economy of a country.

Even though for now some countries didn't regulate bitcoin yet but still it somehow affect the countries economy since their citizen still earning bitcoin and exchange it to fiat and by exchanging it to that  they will use their earned fiat from bitcoins to buy goods nor other services and that can help the circulation also their bought goods or anything have tax so somehow this things could help to boost some countries economy, how much more if the government decide to implement the taxation of crypto earnings for sure the money accumulated from crypto taxes will surely help the government to boost their economy.

[herurist]

I think when countries talk of diversification of their economy the best possible option is to diversify the currency and cryptocurrency is the way to go, as it will help boost the economy in a faster way that is if a thing goes well, but again, why most countries are afraid of crypto as an option to boost the economy is because of its nature which is decentralization and unpredictability of its price.

from here we have understood that risk is still one of the reasons for the government and in fact it is true if you say crypto is very good and it is true but come back because here we are not only discussing the benefits but also the risks and the most impact The negative is of course the government will think about it.
maybe for individuals and individuals it will be proportional to the results we receive because of the big risk of course the results will be great. but other governments they need to really review from all sides because this kind of thing concerns the country and all the assets in it.

[perfect999]

People have to think that learn to diversify investment. Crypto is not meant for short-term profits especially for newcomers who are not aware how to make profits out of trading or holding crypto.

Either diversify or have the patience to simply invest in Bitcoins and wait for the right time. On the funny side, I think investing in Bitcoins is just like farming, you invest all the money into the crops and just wait for the right time to harvest.

When more number of people are getting some opportunity to earn then that will lead to have positive impact on their economy. This way I believe bitcoin will definitely have positive support for the growth of any country's economy. When governments start realizing this then they will start following El Salvador.

[verita1]

Statistics show that the countries with the greatest ownership of bitcoin and cryptocurrencies are economies where a significant sector of the population has a poor quality of life.

It is very likely that the reason they have turned to digital assets is in search of a way out to improve their economies and have a decent income. Among those countries are: Nigeria (42%), Thailand (31%), Philippines (28%), Vietnam (27%), Turkey (25%) etc.

https://es.statista.com/grafico/18425/adopcion-de-las-criptomonedas-en-el-mundo/

[Wildwest]

For now the crypto world is not fully recognized by all countries, even though if we explore together the crypto world has now added to our income even if only limited to digital currencies but if we can use it well then the results we get are very satisfactory, and we can say it can help economic growth in a country especially during the current outbreak, Although there are still many other sources of income that are more real but digital currencies must also be considered because the development of technology is getting bigger.

[Masplanc]

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.

To me since the existence of cryptocurrency it has really helped so many people financially. It's has generated funds for so many to start up businesses. It has made people to be self employed

[paxmao]

Bitcoin is much more about an individual choice of having a decentralised exchange system than about building a countries wealth, however, as a side effect, people from countries that have invested in bitcoin and have been successful may increase the local wealth. Also, new companies that are created in the crypto ecosystem may potentially increase the wealth of a country. Bitcoin, per se, does not.

[Rasa nanas]

in my country having bitcoin as an investment is allowed but the government in my country gives a warning because investing in bitcoin or crypto has a high risk. I'm sure something like this also happens in most countries in this world. I agree with you that one really shouldn't depend on just one source of income, and bitcoin or crypto can be a very good option as a side job.

[Rajamuda]

in my country having bitcoin as an investment is allowed but the government in my country gives a warning because investing in bitcoin or crypto has a high risk. I'm sure something like this also happens in most countries in this world. I agree with you that one really shouldn't depend on just one source of income, and bitcoin or crypto can be a very good option as a side job.

Looks like I am in the same country as you, I also feel with what you are feeling right now, Bitcoin does seem like the other side of all efforts/jobs that can be done. The government doesn't seem to pay much attention to this, they only allow investment in Bitcoin and give a little advice, which is actually until now the economic life of its citizens has been helped by the benefits of crypto/Bitcoin, and it can reduce poverty.

[Ngemmeng]

whether it is recognized or not, bitcoin or crypto has a major role in improving the economy of a country. many people who make this job as a side job, but not a few who make this job as their main job. because of that role the country should start looking at bitcoin as an alternative income, especially during difficult situations like the current pandemic. at least the government should issue regulations on bitcoin ownership and transactions so that bitcoins are increasingly popular and not used for things that are not true.

[LUCKMCFLY]

in my country having bitcoin as an investment is allowed but the government in my country gives a warning because investing in bitcoin or crypto has a high risk. I'm sure something like this also happens in most countries in this world. I agree with you that one really shouldn't depend on just one source of income, and bitcoin or crypto can be a very good option as a side job.

Well in your country they surely think that way, because it is probable that the government is studying the way to adopt BTC, they know that there they can obtain liquidity, and who refuses the money? In the world of 1000 people 1 and 100 none, then when you have Money Shelter options like BTC, because I consider it as a Money Shelter despite its high volatility, in this case there are also other ways to diversify such as investment in Gold, and shares in the Stock Market, also Real Estate investment, that is the best way to protect yourself in any type of economy, to have a diversified portfolio.

[patientforzhou]

To be honest, when it comes to national economic development, it is best to learn from China. China's development 100 years ago lags far behind the world, no matter what policy or political system it adopted, today it has become a force that can influence the world. China’s development relies on a centralized democracy. Thanks to the government’s powerful control, China has to survive in the face of major crises such as COIVD-19.

[Wendy Simth]

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.

I don't agree with this view. Where can I see that cryptocurrency has made a great contribution to the national economy. At present, in addition to speculation in the market, we have not seen any real contribution.

[molsewid]

from here we have understood that risk is still one of the reasons for the government and in fact it is true if you say crypto is very good and it is true but come back because here we are not only discussing the benefits but also the risks and the most impact The negative is of course the government will think about it.
maybe for individuals and individuals it will be proportional to the results we receive because of the big risk of course the results will be great. but other governments they need to really review from all sides because this kind of thing concerns the country and all the assets in it.

We here in crypto community do feel that diversifying of a financial aspect of one country to cryptocurrency can provide a big changes and development in the economy but at some reason for now still many countries are not open to legalize bitcoin in their economy. The government bodies could not settle on the thought of a crypto as a decentralized currency which makes it out of control of the government, which I think also as one of the reason why there are still many countries didn't allow crypto assets circulates inside of their respective country.

[CryptopreneurBrainboss]

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

It isn't as there's no record ti back that but the industry do have the potential to be of a great impact on any country hat adopts it and El Salvador has taken the faith steps. If they record impressive increase in their economy, it'll be due to their accepting;f Bitcoin assuming nothing significant was to happen in the country and other countries will what to follow their full step.

The industry currently has a developing markets round it, that exchanges and other services providers could used any country that support the industry as a based and they could contribute to the economy of the country. The impact mightn't be felt in the beginning but as the industry continue to expend those that adopted it earlier will be the biggest benefactors.

[suryana]

Maybe not the biggest contribution, but it helps the community's economy a little during the covid pandemic. Why is that because crypto is very suitable to be done during a pandemic where people work from home, not face to face, at least this helps to earn additional income without meeting face to face.

[GeorgeJohn]

in my country having bitcoin as an investment is allowed but the government in my country gives a warning because investing in bitcoin or crypto has a high risk. I'm sure something like this also happens in most countries in this world.

It differs, bitcoin is legalize partially to different countries but it became obvious that cryptocurrency especially bitcoin been legalize properly to a particular country when it's transaction is allowed to transact with the central bank of the country, so without bitcoin operation immensely with country currency exchange fully its not yet a legalize From my perspective.

[Dread Pirate Roberts]

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

Each country has a different goal for the welfare of its people and country. of building the economy. military , infrastructure . education . health and others. cannot generalize the finances of one country to another. because they have their own problems and concern which are the priorities of their respective countries.