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

[Rana590]

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?

Obviously cryptocurrency is an important factor for a country. We need digital payment system and it saves pur time and money. We know that crypto currency is a profitable investment too. We can't regret the importance of crypto currency in our daily uses.

[taufik123]

Obviously cryptocurrency is an important factor for a country. We need digital payment system and it saves pur time and money. We know that crypto currency is a profitable investment too. We can't regret the importance of crypto currency in our daily uses.

Important or not depends on the country. Some countries that are pro with cryptocurrency will of course say it is very important, but some other countries that are not pro with bitcoin will say it is not important.
Each country's regulations on cryptocurrencies will of course be different depending on their needs. El Salvador, which has adopted bitcoin, of course says bitcoin will be needed, but in contrast to China, which prohibits the use of bitcoin.
Cryptocurrency digital payment systems will indeed save time and money, but they will not simply be accepted. All require research.

[TheUltraElite]

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.

Bitcoin is "decentralized" - what does that mean? It has no centralized control or so-called controlling agency or institution, the thing that makes it different from a scammers group who may run a self-controlled currency or a ponzi.

The thing that you talk about is fiat currency. It can be printed by the government's will and will attempt to offset inflation. While on the other hand bitcoin has a limited supply and therefore deflationary.

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.

True, if that was the case there would be a lot of problems for a country to finance its government-sponsored services aka taxation financed which are very relevant when coming to third world countries. It is possible to tax from bitcoin but that would be an entirely different matter.

Obviously cryptocurrency is an important factor for a country. We need digital payment system and it saves pur time and money.

Digital payment can be fiat or crypto. Now the term is more commonly known for the first one and the second one. If you look around the majority of the people in any country are satisfied with fiat digital payments.

We know that crypto currency is a profitable investment too.

But that does not make it important for the country. It makes it important for the individuals.

We can't regret the importance of crypto currency in our daily uses.

If you live in a country where bitcoin is being used for daily expenses, then you are lucky, but not everyone lives in such countries.

[Zilon]

Cryptocurrency could be essential for a country's development and at the same time it can cause a treat to the economy as well depending on the angle we to tackle it from. Cryptocurrency has helped tackle the issue of unemployment, small and large scale business Startups and expansion and Government revenue boasting. But at the same time most people hide behind it's anonymous nature to hide looted funds and so many crimes that uses crypto as random.

[worldofcoins]

Well, there are both Positive & Negative aspects if we talk about the impact of the development of the country. It all depends upon how you planned, implemented & developed the whole development. Strong planning and milestones must be planned and specified for digital currency. Yes, I do agree that there might be some (Or many) disadvantages of Cryptocurrency but we can't ignore its positive aspects and impacts on any country's development.

[Yamifoud]

Well, there are both Positive & Negative aspects if we talk about the impact of the development of the country. It all depends upon how you planned, implemented & developed the whole development. Strong planning and milestones must be planned and specified for digital currency. Yes, I do agree that there might be some (Or many) disadvantages of Cryptocurrency but we can't ignore its positive aspects and impacts on any country's development.

Volatility and proneness to hacking are the reasons that stopped many people to adopt crypto. The government had never thought this could help to improve their economy unless if these things that I've mentioned will be changed? And in their mind, they will still be able to improve their living and their financial capabilities even without crypto as this was not the main contributor to their wealth. This made some country to decide and holds adoptions.

[shield132]

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?

Just in what way can it bring a damage to a country? Crypto is an innovation and innovation attracts people and develops the world. We invent new and new things, without inventions, we would be stuck in the Paleolithic period.
Cryptocurrencies can attract the investments in countries, it's especially beneficial for poor countries who have a lack of it. More investment = more development of different sectors, the whole country, better education, healthcare, etc.
The extreme damage can be done if the country is full of active terrorism, drug dealing, robbing, etc. But when you care about the democracy, the development of the country, then sure it's another key to success.

[Woodie]

Not all countries can look at bitcoin as the ultimate answer to their problems as we have seen in the past where some countries like Zimbabwe looked for answers to their currency problems in bitcoin. These guys used BTC to trade for goods and services to overcome the hyperinflation their currency was subjected to which has turned out to be some of the success stories crypto has produced. In using btc can guarantee financial freedom but can also destabilize the governments revenue streams if left unchecked or people want to bypass the tax man.

[noah tall]

The crypto currency can provide a significant  benefits. But also its can effect the economy badly . Because we know that crypto currency is very familiar and known as a easy way   to send the currency abroad.

[rizqoAD]

Cryptocurrencies cannot help in the field of country development, but here cryptocurrencies are an alternative to fiat finance and also a profitable investment alternative. I think cryptocurrency helps a country in the economic field, because with cryptocurrency people can have a job, namely by trading or investing in the crypto market. Along with the increase in the economy of a country's people, the country's economic growth will increase so that cryptocurrencies can help the role of the government.

[EvieLannister]

Cryptocurrency is not that important to the country. Before, everyone didn't know much about cryptocurrency. The development of each country is still very good.
It is possible that cryptocurrency will promote the development of the country. Now the comparison is meaningless. After another five years, we can compare the development of countries that adopt cryptocurrencies with those that do not.

[Masplanc]

I have always said it that cryptocurrency is important for countries, why?? Citizens benefits from cryptocurrency even if not citizens that are are benefiting from it. At least cryptocurrency is making those who are into it to be financially balance, it is adding value in one way or the other.

[19Nov16]

I have always said it that cryptocurrency is important for countries, why?? Citizens benefits from cryptocurrency even if not citizens that are are benefiting from it. At least cryptocurrency is making those who are into it to be financially balance, it is adding value in one way or the other.

True, cryptocurrency besides being useful for citizens is also useful for citizens of other countries, this is because anyone is free to buy crypto, citizens will have many opportunities to earn income if the state legalizes crypto and this is proven in many countries that legalize crypto making many people more prosperous.

[kotajikikox]

Cryptocurrency is essential for the development of a country?

Am not sure about this sentiment but what i Know is that Crypto is essential for the user specially we as crypto believer.

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

it will in time , but nowadays yet countries does not understand this .

Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

It will only Hinder the Politics from being corrupt and in that i see the hindering happens to finally adopt cryptocurrency.

[habebe]

It's also important because I don't have crypto currency in the world, we also don't have any benefit ,,, and moreover, crypto in the world around us is also gradually being recognized around the world. Almost all countries are already using digital equipment because it is very useful.  also except for those they don't know but I think 90% now use it and i know crypto around the world are many people wants to know more about this for me a crypto currency is very important because here we now benefit.

[Kadal Ijo]

As long as cryptocurrencies can be useful then legalizing is a better thing, the state should think realistically for the good and welfare of its citizens, countries that legalize crypto are proven to be able to help many citizens and can increase their income, especially during a pandemic that makes many businesses and industries die.

[RiskySanchez]

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.

[DOH!]

If mainstream cryptocurrency benefits the nation's users in all the ways that crypto can serve them, including the decentralized economy.  It is precisely an important factor in structuring and transitioning states for that application.  With the concept of crypto, freedom and benefit for all citizens, it will bring important benefits to that country.

[arditiyan]

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 not important to the country and does not harm the country. I see that cryptocurrency is better not related to the state, this is useful because cryptocurrencies can run without a state and without state rules I think cryptocurrencies can still work

[suzanne5223]

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.

No, you guys misunderstand something here. Cryptocurrency is a currency and serves as a means of payment, financial freedom, and hedge against inflation while it blockchain that plays the key role in the development is countries and other settings like hospitals, vote systems, security, etc. But we won't have know blockchain if cryptocurrency is not introduced.