Cryptocurrency is important for a country? or not...

[Alucard1]

I don't think that cryptocurrency will make a certain country's economy recovery, even though we have seen the great benefits of having cryptocurrency, I still don't think that it will be the solution for every country's financial problem because cryptocurrency is just a "currency" or just an alternative for fiat.

Not for the country but for individuals.

This one, this is true, it is really good for someone or person who wants to earn money and feel the freedom, best example for this is those students who have already gain huge amount of profit in cryptocurrency compared on those persons who have their real life work.

[jaberwock]

Cryptocurrency is essential for the development of a country. I don't think cryptocurrency can play a big role in the development of a country.
However, it may have a cryptocurrency role in the development of a country but it is not essential. I think every country will feel the need for cryptocurrency when the cryptocurrency reaches a new height in the coming days.

Maybe you’re right, in a particular area which is banking and finance, of course I would say that bitcoin is really development, because since it came out it has really brought a lot of changes with it in the way things are being done, and every central bank wants to own their own digital currencies.

So yes, it does help in development in some certain areas, but I wouldn’t really say that it is essential for the development or is it? And the way the op put it was wrong, because he or she made it seem like what they are trying to ask is whether it is generally essential for the development of a country, which in that case I am going to say No.

[Azar138]

Cryptocurrency is essential for the development of a country?
Does cryptocurrency play an effective role in the development of the country? Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

I consider cryptocurrencies to be a big step at the development of technologies. I think that those countries which are adopting crypto now, will benefit a lot in the future. On the other hand, not all authorities approve of crypto. It is decentralised and uncontrolled, so they can't regulate it, that is why they can't let it develop as they don't want to lose control over finances.

[Kimonoe]

Cryptocurrency is essential for the development of a country?
Does cryptocurrency play an effective role in the development of the country? Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

I consider cryptocurrencies to be a big step at the development of technologies. I think that those countries which are adopting crypto now, will benefit a lot in the future. On the other hand, not all authorities approve of crypto. It is decentralised and uncontrolled, so they can't regulate it, that is why they can't let it develop as they don't want to lose control over finances.

I think bitcoin currently doesn't have much benefit for the country, because many countries haven't legalized it, so the scope of bitcoin can't do much more. but with bitcoin it indirectly creates jobs in the midst of the current covid pandemic

[Ziskinberg]

Cryptocurrency is essential for the development of a country?
Does cryptocurrency play an effective role in the development of the country? Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

I consider cryptocurrencies to be a big step at the development of technologies. I think that those countries which are adopting crypto now, will benefit a lot in the future. On the other hand, not all authorities approve of crypto. It is decentralised and uncontrolled, so they can't regulate it, that is why they can't let it develop as they don't want to lose control over finances.

Only those people who adopt and enjoyed using Bitcoin will gain some benefits but not all. What I mean is that even the country is legalizing and adopting Bitcoin it doesn't mean that all of their countrymen are also using this, many were still not seeing this as beneficial but just a useless technology especially when they can never use it to buy and pay our bills.
That is why I don't think it was necessary nor it is a must coz we are still able to survive without this thing. Kinda be optional.

[btc78]

Cryptocurrency is essential for the development of a country?
Does cryptocurrency play an effective role in the development of the country? Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

every currency is important so what more this Digital currency? each countries has their own Physical currency but none has their own Virtual currencies(crypto to be specific) we have seen the opportunity and advantage of crypto in our lives , this even give people a power over banks and even government.
so my answer is definitely YES for the importance of cryptocurrency in MY country or even the whole world.

[SquallLeonhart]

Cryptocurrency is essential for the development of a country?
Does cryptocurrency play an effective role in the development of the country? Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

Cryptocurrency is just one of those areas that the world has shown to be advanced, so it isn’t bad if we also have it and make use of it, but that doesn’t mean that without cryptocurrency that the world won’t be able to develop. Moreover, if you look into this you will see that mostly what we need cryptocurrency for is just for transaction and for investment, unless you’re talking about the blockchain which can be implemented in different areas in the industries. At the same time that we have lived centuries without having cryptocurrency and the world was able to develop. So, if we should take out cryptocurrency today we’re still going to be able to keep developing but with cryptocurrencies we might have different growth rate due to its obvious applications.

[syedakhlaque]

I think Cryptocurrency is important for a country. It has many benefits:
It provides a favourite activity and earning source to all ages of communities.
We can start our business through cryptocurrency with a small amount but all other traditional businesses demand huge capital.
It is seen that cryptocurrency made many poor rich and useful citizens through margin trading.
It provides a souces of income for all especially third-world countries where unemployment is a major problem. So There is a need that all the countries of the world should not only favour it but also legalise it.

[Dr.Osh]

Its a digital currency wherein no physical money probably an alternative way but you know it's hard to tell because there are some problem with crypto such how it can used to any crimes and untraceable reason some government were against in it. so probably it's not essential for a country to have a good development, although it has the fastest growth rate than real fiats. Perhaps it's not a valid reason.  

speaking of criminal matters, the thing that needs to be understood is that even Fiat is still often used for criminal matters, well that's a fact.
however, since most cryptocurrencies are decentralized, the reason the government doesn't accept it as a means of payment is because it has an unstable value, and there are many other reasons. however, whether it is important or not depends on a country using it. if it can make people prosperous, then I think it can be important. however, like in China, I think cryptocurrencies are considered a disadvantage there.

[Rigon]

Yes of course this cryptocurrency plays an immense role for a country. As such, Bitcoin is not legal in our country.But 90 percent of the people in this country are unemployed. They are not getting jobs but 10 to 40 percent of the people are making a living by using this bitcoin.Considering your words, we can see that we do not do any job but by working on this bitcoin we are earning enough money inshallah.So I think this bitcoin plays an immense role for a country. Without this bitcoin, the number of unemployed people in the country would have increased.

[Alisha FR]

If you say it is important for the development of the country, I think your statement is not objective, crypto as an investment vessel for the benefit of its users. If crypto can overcome the instability of a country, I think all countries in the world will use crypto and there is no country in the world that prohibits it. I can't say crypto will give negative value to countries that legalize it. Looking at crypto users, they get the positive side which is financial freedom. It is possible that crypto will have a better impact on everyone in the world if they continue to invest in it.

[worldofcoins]

I don't think every country will adopt Bitcoin as their primary currency it's like "Allowing an external source to control your economic affairs" And it creates many exploits within the financial sector of the country, It's better if every country creates their own cryptocurrency, I think Iraq is already doing it.

[nelson4lov]

If you say it is important for the development of the country, I think your statement is not objective, crypto as an investment vessel for the benefit of its users. If crypto can overcome the instability of a country, I think all countries in the world will use crypto and there is no country in the world that prohibits it. I can't say crypto will give negative value to countries that legalize it. Looking at crypto users, they get the positive side which is financial freedom. It is possible that crypto will have a better impact on everyone in the world if they continue to invest in it.

First and foremost, Crypto and more specifically, Bitcoin was originally created to bring financial freedom for anyone or entity that chooses to adopt crypto but overtime, it has been more about the investment side and not overall adoption but I believe it's just for the time being and we'd see real adoption soon. Countries that adopt bitcoin shouldn't have any problems from what we have seen so far with El Salvador.

[Eureka_07]

Some people says that it helps the economy since it supports lots of financtial transactions, like private companies that adopted on bitcoin.
Though maybe for others' perspective, it isn't good specially on taxation since citizens has  better control on their own money compared to our latest monetary system. I am not sure if that's a problem that crypto could bring into the one's country.

If you say it is important for the development of the country, I think your statement is not objective, crypto as an investment vessel for the benefit of its users. If crypto can overcome the instability of a country, I think all countries in the world will use crypto and there is no country in the world that prohibits it. I can't say crypto will give negative value to countries that legalize it. Looking at crypto users, they get the positive side which is financial freedom. It is possible that crypto will have a better impact on everyone in the world if they continue to invest in it.

Since we mainly discuss about bitcoin here, the cryptocurrency "Bitcoin" is originally created for every individual who uses it gain financial freedom. It isn't mainly created for the purpose of being an investment like what you are trying to pertain.

[kawetsriyanto]

Cryptocurrency is essential for the development of a country?

How can it be essential? Even there are countries that have nothing to do with crypto business, they ban crypto because of certain reasons. This indicates that crypto isn't essential, it is just a part of various businesses in the world. However, crypto can be helpful to improve society's incomes, some countries have adopted the crypto business because of the demands from its society.

[Rahman11]

The main point of cryptocurrency is to fix the problems of traditional currencies by putting the power and responsibility in the currency holders' hands. All of the cryptocurrencies adhere to the 5 properties and 3 functions of money. They each also attempt to solve one or more real-world problems.

[Tigerheart3026]

crypto can essential of the development of country, it's depend on adoption of crypto. but the governments don't care attitude and don't wants to legalize also promoting it negatively. crypto will never replace fiat, so it will not play role essential development for a country as fiat. absence of crypto i don't think its will effect of the development.

[DewiKirana]

I think cryptocurrency can help advance a country if it is managed by a credible agency, has a clear vision and mission, has a forward mind and has a high sense of nationalism.

[Swapzone_pr]

Actually, crypto currencies could provide a significant benefit by overcoming the lack of social trust and by increasing the access to financial services as they can be considered as a medium to support the growth process in developing countries by increasing financial inclusion, providing a better traceability of funds and to help people to escape poverty, and that's not only my opinion.

[proTECH77]

Does cryptocurrency play an effective role in the development of the country?

Many countries that made cryptocurrency legalized in their country are more develop and civilized than the country who didn't believe on cryptocurrency in the country. Many countries that legalized bitcoin really enjoyed the benefits during the pandemic where other currency where loosing value in the market because of the serious pumping of bitcoin at the moment. It reduced unemployment from the country that adopted it in the country.