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

[sherenikaw]

I haven't thought much about it, about how crypto plays a role in the development or destruction of a country. what I know is crypto is an asset that has its own control and can be owned by anyone who wants it. So far crypto has really helped people with the profits made in it. when talking about inflicting severe damage on a country then I don't think it's true, even though crypto has advantages and also risks but it doesn't do serious damage to a country because not everyone suffers losses or failures in the world of crypto.

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[songchunlai]

Trust makes management easier. Encryption makes looting safer.

[ReiMomo]

I believe when citizens of a country are financially free, the country is growing up on the ladder. We can really see number of bitcoin holders or investors in crypto currencies have really increased even before countries legally accept bitcoin / crypto currencies. So yes, If countries legally accept bitcoin and crypto currencies, there is going to be rooms for its citizens to earn more money. Crypto platform is an another platform / an opportunity to earn money from.

[Evgenklm]

any country wants to control any cash flows, and it's hard to do with bitcoin, so to some extent bitcoin interferes, but in general people use it no matter what, for me bitcoin is useful because I can transfer a few Satoshi to my friend in just a few seconds and I like it.

[smartaction]

Cryptocurrency is essential for the development of a country?

Cryptocurrency Decentralised currency and it is not local currency of any country but It's  certainly works for the development of a country.  Countries that refrain from cryptocurrencies will lag behind other countries in terms of Economic.

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?

Cryptocurrency must work for the development of a country because the value of cryptocurrency now is that if a country didn't Accept it, that country will never be able to move forward economically and A country that lags behind economically must lag behind in terms of development

[sirminesalot]

for economic factors, yes, it is very important, especially with tax regulations for crypto currencies, of course, the country will benefit from it and the economic circulation that moves will build better technology development with various blockchain systems and good investments.

We have to remember that owning cryptocurrency is not always getting benefits.
But if we look at the el savador, their country management is quite good, buying cryptocurrency (bitcoin) at the bull time so they could make decent proffits for their country.
So i think it's important or not important depends on the country officials that if they could manage their country's wealth good. Maybe cryptocurrency investment could be a good choice for a country.

[Dr.Osh]

I believe when citizens of a country are financially free, the country is growing up on the ladder. We can really see number of bitcoin holders or investors in crypto currencies have really increased even before countries legally accept bitcoin / crypto currencies. So yes, If countries legally accept bitcoin and crypto currencies, there is going to be rooms for its citizens to earn more money. Crypto platform is an another platform / an opportunity to earn money from.

So, whether it's important or not depends on the country, right?
yeah, i agree with that. many benefits of cryptocurrency if we really study it. it will also be very beneficial for the benefit of citizens, and also a country. it can reduce unemployment, expand the functionality of technology, and so on. however, it depends on a country how they make use of it.

[bosede1]

I will like to ask if money generally is needed or essential for a Country development? The people living in the country benefits from Cyptocurrency because of its features than fiat which in turn can help the economy but not necessarily needed for its development

[proTECH77]

With the development we have seen so far in different countries that adopted cryptocurrency, it has help them to reduce unemployment in different. Now that many countries are preparing to legalized bitcoin it will help them to improve in every areas of their economy and also develop the youths more on cryptocurrency trading in the country. Cryptocurrency will reduce inflation in the community and also cause serious economy pumping in the land.
It will help the youths not to depend on their parents for school fees or other things in the community. It will expand them on digital currency and how to use it positively in the environment.

[Maidak]

I believe when citizens of a country are financially free, the country is growing up on the ladder. We can really see number of bitcoin holders or investors in crypto currencies have really increased even before countries legally accept bitcoin / crypto currencies. So yes, If countries legally accept bitcoin and crypto currencies, there is going to be rooms for its citizens to earn more money. Crypto platform is an another platform / an opportunity to earn money from.

Though the adoption is not necessary but you have to agree that it is essential. If you do not adopt it, you will lag behind in the beneficial use of technology. Earning money is a fact, Bitcoin has opened up ways for people to earn in many ways such as trading, mining, investing, there are many ways to earn from it. It has reduced the unemployment rate in various countries and has also contributed to GDP growth. Also, there are many more facts to accept Cryptocurrency Globally. If the government deprives the people of their country of the right to use decentralized systems, surely they will lag behind technologically.

[KingsDen]

Cryptocurrencies have great effects in the countries. Positively by empowering the poor, creating job opportunities and encouraging self employment, breaking the bearings in international trade etc. If also affects a country by the amount of energy consumption, encourages crime and tax evasion.
However, Cryptocurrencies were not created for country bases but for freedom of finance by humanity.

[arwin100]

Cryptocurrencies have great effects in the countries. Positively by empowering the poor, creating job opportunities and encouraging self employment, breaking the bearings in international trade etc. If also affects a country by the amount of energy consumption, encourages crime and tax evasion.
However, Cryptocurrencies were not created for country bases but for freedom of finance by humanity.

Yes in that certain particular aspect it could help people to get money especially by now that we are in the middle of the pandemic but I don't see any importance to the country for now since many still didn't even pay their taxes on the income they got on crypto so there's no benefits or effect that a country can get from it but if they will impose tax towards crypto and they adopt its usage then maybe we can see its importance on government side.

[kele9999]

Wow, I feel that you are all very professional. I am a noob. I want to ask a question. What do you think of Defi's liquidity mining

[Reatim]

Wow, I feel that you are all very professional. I am a noob. I want to ask a question. What do you think of Defi's liquidity mining

Best to create your own thread about this question in Altcoin Board here https://bitcointalk.org/index.php?board=160.0 sure you'll get a perfect answer from Miner and crypto experts , not here in separate thread that will be bumped and leave your question being Flooded by different answers .

I will like to ask if money generally is needed or essential for a Country development? The people living in the country benefits from Cyptocurrency because of its features than fiat which in turn can help the economy but not necessarily needed for its development

Money makes the world going around now and also this makes the economy great or bad, so never question about Fiat in help for development because we all knew it is needed.

[Olafimihan1986]

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?

From my little understanding about cryptocurrency, various cryptocurrency investments have helped a lot of countries to tackle the problem of unemployment which the government has found difficult to solve. Lots of young chaps are now self reliant and employed which gives cryptocurrency a big plus in that sector.

[ROSERTY]

Cryptocurrency will bring many new opportunities and is helpful to the development of some countries, but it is not an important existence for all countries. There are still some countries that are opposed to cryptocurrency.

[Vaskiy]

With the development we have seen so far in different countries that adopted cryptocurrency, it has help them to reduce unemployment in different. Now that many countries are preparing to legalized bitcoin it will help them to improve in every areas of their economy and also develop the youths more on cryptocurrency trading in the country. Cryptocurrency will reduce inflation in the community and also cause serious economy pumping in the land.
It will help the youths not to depend on their parents for school fees or other things in the community. It will expand them on digital currency and how to use it positively in the environment.

Cryptocurrency adoption will help the economy come out of inflated fiat which gets printed without limitations. But it hasn't paved path for the unemployment issue prevailing on different countries of the world. With the pandemic more youth have started to use cryptocurrencies for trading purpose. Apart from this bitcoin haven't created more job opportunities to the youth.

Blockchain technology is much into demand. This is the only platform that has created more job opportunities. The sad part, very few are trained and qualified in it. Maybe the present generation learning about blockchain will have good job opportunities in the coming days.

[Fatunad]

Cryptocurrencies have great effects in the countries. Positively by empowering the poor, creating job opportunities and encouraging self employment, breaking the bearings in international trade etc. If also affects a country by the amount of energy consumption, encourages crime and tax evasion.
However, Cryptocurrencies were not created for country bases but for freedom of finance by humanity.

Inmy country its still not widely as estaliahments or businesses  still did not accept crypto. But it helps many individuals who are knowledgeable in crypto on how to trade as well know how ICO and games related woth crypto. Some able to quit 8-5pm job to do full time in trading or grinding in gaming. It will depend on the user how to take it as an opportunity as the government still fears the possible outcome of crypto.

On here there are some services or establishments are accepting SLP as a payment of their services or food or goods which is really great to look upon when it comes to recognition but i dont know on whats the stance of the government but pretty sure that they are really allowing it and of course taxation would be just normal but
wondering on how they would gonna impose it and on the question on regarding if its that important then well its just an optional because
government would be still the final ones who would gonna decide.

[Obito]

Not so essential to be honest because not everyone uses cryptocurrencies in a country, they're probably around the low end percentage of the population so it's not that big of an impact that they have when they're using cryptocurrencies. Maybe now that there's more NFT and P2E games, it might be different.

[leea-1334]

Not so essential to be honest because not everyone uses cryptocurrencies in a country, they're probably around the low end percentage of the population so it's not that big of an impact that they have when they're using cryptocurrencies. Maybe now that there's more NFT and P2E games, it might be different.

Definitely not critical and very strongly unessential,,, people love the El Salvador news but the recent developments there prove that crypto was not seen as essential for the citizens. And Bitcoin was created to be a peer to peer type of money. If the people do not feel it is important enough there, then it is not ready or essential for them. It is hard for a p2p currency to argue against majority right?