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

[Xinarae*]

Cryptocurrency is not very important for a country but it is popular all over the world but crypto is not included in any banking service. Cryptocurrencies do not match cash they are privately created assets at present they are being traded in various businesses this coin has been recognized in only one country in the world in all other countries this currency has no value. This coin was not even recognized by any administration crypto is being traded through some anonymous third party authorities but could become important if the government gives legitimacy.

[rozak]

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?

In my opinion, in this digital world, crypto currency is a important factor for a country. People want reliable and easy way and cryptocurrency can help here. Day by day people will use digital currency and we should adopt it as soon as possible.

people's interest is only limited to investment assets. yes, the news of the spread of crypto and bitcoin has indeed grown quite quickly in the last 2-3 years. but it does not provide a strong guarantee for the adoption of government legality.
I believe, better performance is the use of blockchain technology in the government of a country. because as a currency, or an instrument of exchange that has value. Each country has different regulations.
if it is important or not. I think it all depends on the readiness of the people of that country.

[kotajikikox]

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?

In my opinion, in this digital world, crypto currency is a important factor for a country. People want reliable and easy way and cryptocurrency can help here. Day by day people will use digital currency and we should adopt it as soon as possible.

correct and we only need to collect a perfect currency for every transaction we will do, I am not relying in Bitcoin only instead i am having alternative currencies as well .
there are several times that bitcoin  fees increase too much high that we cannot make a small transaction as the fee is much higher than our funds to send so yes using altcoins is best for our dealings.
so Better to have multiple coins ready for the future but of course choose best currencies to store and hold.

[IQnawaz123]

Yes cryptocurrency is important for a country, it provide a significant benefit by overcoming the lack of social trust and by increasing the access to financial services.

[lepbagong]

Cryptocurrency is not very important for a country but it is popular all over the world but crypto is not included in any banking service. Cryptocurrencies do not match cash they are privately created assets at present they are being traded in various businesses this coin has been recognized in only one country in the world in all other countries this currency has no value. This coin was not even recognized by any administration crypto is being traded through some anonymous third party authorities but could become important if the government gives legitimacy.

yes, there are many countries that have not recognized the existence of crypto so what you say could be true that it is not very important for the country. because to be able to receive crypto legalized in a country clearly requires separate regulations because it is different from banking in general which has been known and carried out in parts of the world today.
It is also true, crypto is very well known throughout the world and can be a very profitable asset for anyone who holds and makes transactions.

but it is very important that crypto is indeed recognized by a country as a legal tender, or at least can trade crypto. so that the state and the people who do this will receive additional income from the results of transactions in crypto, although not directly.

[noormcs5]

Cryptocurrency is not very important for a country but it is popular all over the world but crypto is not included in any banking service. Cryptocurrencies do not match cash they are privately created assets at present they are being traded in various businesses this coin has been recognized in only one country in the world in all other countries this currency has no value. This coin was not even recognized by any administration crypto is being traded through some anonymous third party authorities but could become important if the government gives legitimacy.

yes, there are many countries that have not recognized the existence of crypto so what you say could be true that it is not very important for the country. because to be able to receive crypto legalized in a country clearly requires separate regulations because it is different from banking in general which has been known and carried out in parts of the world today.
It is also true, crypto is very well known throughout the world and can be a very profitable asset for anyone who holds and makes transactions.

but it is very important that crypto is indeed recognized by a country as a legal tender, or at least can trade crypto. so that the state and the people who do this will receive additional income from the results of transactions in crypto, although not directly.

Cryptocurrency is important for the citizens of the country but it may not be valuable for the government. This is how most governments thinks. This shows the lack of knowledge about the cryptocurrency among the higher authorities of the country.

If only government realize the importance of crypto, that will benefit both the people and governments.

[JayTrain]

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?

the cryptocurrency itself carries a certain risk for the traditional financial sector, many countries are afraid of cryptocurrencies precisely because of this, but I see some advantages, novelty, idea in this, but the most important value of any country is the blockchain technology, it is unknown how countries will apply this technology.

[KaliLinux]

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?

Countries have developed before the introduction of Bitcoin and even after the introduction we still have countries that are still underdeveloped. I don't think Bitcoin has anything to do with a countries development except the countries Government decides to deliberately get involved with Bitcoin in a bid to use Bitcoin to grow the countries finance. On the other hand, we can also conclude that since the individuals that are involved in Bitcoin in a country might do their own personal development within the country with their Bitcoin gains, maybe that could amount to what you are asking.

[TelolettOm]

Cryptocurrency is essential for the development of a country?

In what development? Most cryptocurrencies are decentralized and this may not give a big essential influence on a country. But, cryptocurrency is essential for individual who is living in that country.

Or does it hinder the development of the country and cause extreme damage to the country?

I never imagine how much damage is caused by cryptocurrency. maybe it is about the negative impact of mining? Or because of money laundering? Well, so far, I don't read any extreme damage caused by cryptocurrency.

What do you think about this?

It will depend on each country whether they legalize crypto or not. For some countries that legalize crypto, they consider more pros than cons. Moreover, crypto help increase the financial and economy of their citizen. Crypto is more than only a currency. 
But for countries that ban crypto, whatever the reasons, they will think negatively about crypto and spread more FUDs

[Gasty4]

At the moment not all sector's in a country will crypto currency be, but then in a short time we'll see most of them companies and industries trying to keep abreast with Crypto Currency.
They're are going to be very mandatory soon, every country will want to make good use of them.
Big Applause to the countries accepting Crypto Currency.

[Dunamisx]

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?

Absolutely No, if you are to take cognisance to the rate people are tripping for cryptocurrency each day and the market cap daily increase makes it a world wide acceptable currency even thou some are yet to adopt nor legalized it. This is what people are doing and are seeing the result to be real, legit and profitable, the fact that it create individual's independency to having currency and in making exchange.

Taking a look into the case study of El-Savador's adoption, ever since the adoption last year, no tangible economic set back has it cause them while as of recent, the president of [Suspicious link removed]j.com/articles/turkeys-erdogan-meets-el-salvadors-bitcoin-boosting-leader-amid-economic-crisis-11642678083]Turkey makes move towards the El-Savador's bitcoin amidst their economy crackdown[/url] meaning bitcoin can be a rescue to build up a delapitated system of finance and economy.

[lixer]

Cryptocurrency is trust and freedom. which is essential part for a developing country everyone should accept it when everyone is accepting it they way it is not by imposing centralisation.

It will depend on the leader of the country. No matter how we say crypto is freedom and trusted but if the leader of the country does not want his people to be free and he are not trusted. We cant do anything about it.

For the countries with have a good leader, we have seen them developed naturally and take note there are no cryptos that time, that is why crypto is not essential although it is helpful for a country to become more developed. The only thing that crypto can cause damaged to a country is when people use it in a wrong way. Not only that it will cause damage to their country but it can also a damage to the reputation of the crypto itself  .

[Peanutswar]

It's not an important thing because they can make a success without it but of course, this is the new trend for now and it is good if the organization or a country accept and supports this kind of trend so they can get more users, supports, taxes if they use this as a centralized with the use of a platform. Again it depends on the country recently we saw that Russia does not accept yet the use of cryptocurrency and one of the reasons is to decline the market and we experience another downtrend it has an impact if a country accepts or decline the crypto innovation.

[LUCKMCFLY]

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?

the cryptocurrency itself carries a certain risk for the traditional financial sector, many countries are afraid of cryptocurrencies precisely because of this, but I see some advantages, novelty, idea in this, but the most important value of any country is the blockchain technology, it is unknown how countries will apply this technology.

In fact, if I think that a cryptocurrency is essential for a country, 'because it is entering a market totally different from the others, where the rules are different and everything runs under laws that can be changed with having a lot of money, while a market like the stock market obeys its support and everything that has to do with supply and demand, with respect to the BTC market, volatility must be dealt with in order to have guaranteed success, I think this is the secret of everything, and a country, a The ruler and his people must have this calm, for me it is essential to handle BTC.

[Mam009]

Nowadays bitcoin is stand is own position and people are now also interested about cryptocurrency. If Bitcoin takes its place in this way, it will certainly play an important role in the development of any country, Developed countries are now moving fast through digital transactions.So, in the future we will definitely see the development of the country by the trend of bitcoin.

[KingTin]

I think blockchain tech would solve quite a few issues but I don't think it's world changing tech that we all think it is.

I simple cannot see web 3.0 working well if everyone needs to own a lot of tokens in order to interact with each other, it removes a lot of accessibility for people and honestly, unnecessary.
But I do think it will help a lot in some important areas, like anti censorship and more ways to interact with the web, better accessibility to financial services.

But bitcoin is the one I believe will change the world, it will change the entire geopolitical dynamics and how companies can raise capitals with the ordinary plebs.
Personally I think it has already done a lot of important job, which is to educate the general public about what exactly is money.

[rahmad2nd]

Depend how each country decision with cryptocurrency because still have manipulated or giving bad news about development of cryptocurrency and make country looks afraid for adopting bitcoin or altcoin as legal transaction. They do not know about how benefit by adopting cryptocurrency and all transaction transparent and most faster than using Bank as way for sending or receiving money, beside with cryptocurrency never have any inflation value and keep increase with how much growing up bitcoin and altcoin price for the future, need time and change mind of many countries how effective if adopt bitcoin and altcoin as legal transaction impact.

[TheNineClub]

There are so many factors at play here, it would be hard to give a definative answer. For instance, is that country getting financial aid from other countries? If so, in what currency. Is it geting foreign investments? If so, they are still coming via some maxor currency. Is there a big enough market for it's citizens to only depend on BTC?

With all of that in mind, I would say no, crypto in general can not be the only thing that helps with a countries development.

[virasisog]

As for me, it isn't essential yet it helps especially now that we're still amid the pandemic. It provides opportunities and relief for those who have lost jobs during this crisis. It also help the economy recover in so many ways. Cryptocurrency could actually be considered a savior during this situation and I must say that it now plays a vital role.

[Henrobakkara]

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 don't think there is a clear cut to this so I think it is relative. Before the existence of crypto, countries were already striving in a good direction when we look at most developed countries, and even with the development of crypto, some countries are still finding it difficult to develop, crypto has not changed their situation. so, it can help a country if many people adopt it by way of trading or investment and probably not rely heavily on the government.