How do cryptocurrencies affect Global Economy?

[CageMabok]

Cryptocurrencies, like Bitcoin, have the potential to bring both benefits and challenges to the global financial system. Some people believe that cryptocurrencies could offer more inclusivity and faster cross-border transactions. However, there are concerns about their price volatility, lack of regulation, and potential risks to financial stability. It's an evolving area that requires careful consideration and monitoring.

If you are worried about price volatility, I think it is very reasonable and also very common for everyone. Because not everyone likes excessive price reductions, and vice versa, so this is a normal thing to worry about. As for regulations, I don't think there's anything to worry about because slowly the regulations on Bitcoin will become clearer when there are already several countries that are happy with Bitcoin and some have even adopted it as a legal payment in their country.

So you don't need to worry about this, but you need to be a little worried about the price which is not in a stable condition, but there are also benefits that can be reaped when the price is unstable. One of them is that everyone can buy at a low price and sell at a high price if they are able to monitor it carefully and never miss the two moments (up and down).

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[RewFrew]

Now a days Cryptocurrency affecting Global Economy. Many countries accepting bitcoin and many digital currency. Recently LSalvader accepted vitcoin as a legal currency. Beside LSelvader USA, Canada, France, Denmark,  Germany declared Bitcoin as a legal currency. So day by day Cryptocurrency Being Popular. For this reason Bitcoin and another cryptocurrency using various sectors. Its usability increasing day by day. For covid situation created world economic crisis for thats situation people come back from finical Bank transaction. Many people dependent on cryptocurrency. They investing on crypto.

Overall we can tell now a days cryptocurrency is big Fact for global economy. So it is proved that cryptocurrency affecting on global economy there has no doubt.

[dansus021]

I don't know but I think for now it has no or little effect on the global economy I mean if Bitcoin or other crypto assets go down it maybe has no effect on other investment alternatives ex. stock unless they have a correlation with the crypto itself like MicroStrategy or other bitcoin-related companies. Or maybe it has an effect on countries like El Salvador because they have been using Bitcoin as a legal currency there.

and CBDC is basically fiat but using blockchain technology correct me if I am wrong, and has nothing to do with the crypto. maybe people who hear about blockchain technologies first that they think is bitcoin

[posi]

Now a days Cryptocurrency affecting Global Economy. Many countries accepting bitcoin and many digital currency. Recently LSalvader accepted vitcoin as a legal currency. Beside LSelvader USA, Canada, France, Denmark,  Germany declared Bitcoin as a legal currency. So day by day Cryptocurrency Being Popular. For this reason Bitcoin and another cryptocurrency using various sectors. Its usability increasing day by day. For covid situation created world economic crisis for thats situation people come back from finical Bank transaction. Many people dependent on cryptocurrency. They investing on crypto.

Overall we can tell now a days cryptocurrency is big Fact for global economy. So it is proved that cryptocurrency affecting on global economy there has no doubt.

If I say bitcoin is increasingly popular because people have more and more needs to invest and make money online, I agree. But to say it has an impact on the economy of the country or the world is an exaggeration, and there is no proof for that. Almost everywhere sees bitcoin or cryptocurrencies as a financial market, mainly for speculation without any intrinsic value. How could it affect the world economy? Considering its capitalization is even smaller than that of a company like Google, so its impact is negligible. They only bring benefits and influence at the individual level, but it is nothing for the global economy.

[RewFrew]

Now a days Cryptocurrency affecting Global Economy. Many countries accepting bitcoin and many digital currency. Recently LSalvader accepted vitcoin as a legal currency. Beside LSelvader USA, Canada, France, Denmark,  Germany declared Bitcoin as a legal currency. So day by day Cryptocurrency Being Popular. For this reason Bitcoin and another cryptocurrency using various sectors. Its usability increasing day by day. For covid situation created world economic crisis for thats situation people come back from finical Bank transaction. Many people dependent on cryptocurrency. They investing on crypto.

Overall we can tell now a days cryptocurrency is big Fact for global economy. So it is proved that cryptocurrency affecting on global economy there has no doubt.

If I say bitcoin is increasingly popular because people have more and more needs to invest and make money online, I agree. But to say it has an impact on the economy of the country or the world is an exaggeration, and there is no proof for that. Almost everywhere sees bitcoin or cryptocurrencies as a financial market, mainly for speculation without any intrinsic value. How could it affect the world economy? Considering its capitalization is even smaller than that of a company like Google, so its impact is negligible. They only bring benefits and influence at the individual level, but it is nothing for the global economy.

Many Many countries are accepting Cryptocurrency mainly Bitcoin so i think it has some impact obviously. Moreover you can see today's marketcap $1.06T it is huge. How this Big amount out of Global economy? How do we avoid this massive economy from Global economy? All side consideration i think cryptocurrencies affect Global Economy. Each persons thinking are different. It is only my opinion. Maybe your opinion is right but i tell my Opinion. Thankyou.

[coupable]

Is it true that cryptocurrencies will weaken the global financial system? That system which is managed by countries with the strongest economies with their currencies that has gained wide acceptance to be traded in financial markets all over the world.

Cryptocurrencies, like Bitcoin, have the potential to bring both benefits and challenges to the global financial system. Some people believe that cryptocurrencies could offer more inclusivity and faster cross-border transactions. However, there are concerns about their price volatility, lack of regulation, and potential risks to financial stability. It's an evolving area that requires careful consideration and monitoring.

According to the recent targeting of active platforms in the United States and trials based on suspicion without even providing sufficient evidence, it is becoming increasingly difficult for cryptocurrencies to maintain their position as a potential savior from the crises of the global financial system and from them to positively affect the economy.
It is likely that many countries will follow the example of the United States in the context of a policy of tightening procedures before allowing these platforms to erect, and therefore companies that were intending to start accepting crypto payments will reconsider those intentions, and in the best cases, they will impose strict procedures as well.

[YUriy1991]

Every country's government system wants to control money.  Because bank transactions other than Bitcoin are controlled by the central bank, the central bank is the regulator of all the economies of the country that does not have the facility of Bitcoin transactions, but if a country has the facility of Bitcoin transactions, then the money that will be converted to Bitcoin will not be controlled by the government. This is probably why Bitcoin has not yet become an alternative currency worldwide. And because different criminals commit different crimes through Bitcoin, the governments of different countries take negative decisions about accepting this currency in their countries.

Indeed, It's a bit of a tricky situation, my friend. Some people like the idea of a currency that is not controlled by a government. They see it as a way to break away from the traditional system. But others are worried about the consequences and potential chaos that might come with it. That is why different countries are taking different approaches to cryptocurrencies. Some embraced them, while others kept their distance. that's what i noticed at the moment.

[Renampun]

...
Is it true that cryptocurrencies will weaken the global financial system? That system which is managed by countries with the strongest economies with their currencies that has gained wide acceptance to be traded in financial markets all over the world.
...

will crypto weaken the global economy? the answer is no, because crypto's influence on the global financial system can be considered not too big. In fact, cryptocurrency will complement the global financial system by providing a faster, anonymous and secure payment system compared to what is offered by central banks, and this will be an option for those who want to make transactions internationally but don't want the hassle.

so there is no strong basis for saying that cryptocurrencies will be able to weaken the global financial system, because even though the crypto market is quite large, it cannot weaken the global financial system as a whole, unless everyone switches to cryptocurrencies where the possibility for that is small.

[posi]

Now a days Cryptocurrency affecting Global Economy. Many countries accepting bitcoin and many digital currency. Recently LSalvader accepted vitcoin as a legal currency. Beside LSelvader USA, Canada, France, Denmark,  Germany declared Bitcoin as a legal currency. So day by day Cryptocurrency Being Popular. For this reason Bitcoin and another cryptocurrency using various sectors. Its usability increasing day by day. For covid situation created world economic crisis for thats situation people come back from finical Bank transaction. Many people dependent on cryptocurrency. They investing on crypto.

Overall we can tell now a days cryptocurrency is big Fact for global economy. So it is proved that cryptocurrency affecting on global economy there has no doubt.

If I say bitcoin is increasingly popular because people have more and more needs to invest and make money online, I agree. But to say it has an impact on the economy of the country or the world is an exaggeration, and there is no proof for that. Almost everywhere sees bitcoin or cryptocurrencies as a financial market, mainly for speculation without any intrinsic value. How could it affect the world economy? Considering its capitalization is even smaller than that of a company like Google, so its impact is negligible. They only bring benefits and influence at the individual level, but it is nothing for the global economy.

Many Many countries are accepting Cryptocurrency mainly Bitcoin so i think it has some impact obviously. Moreover you can see today's marketcap $1.06T it is huge. How this Big amount out of Global economy? How do we avoid this massive economy from Global economy? All side consideration i think cryptocurrencies affect Global Economy. Each persons thinking are different. It is only my opinion. Maybe your opinion is right but i tell my Opinion. Thankyou.

Just thinking and predicting is not enough, we need proof for that. The world economy is worth more than 100 trillion, but the whole crypto market is only 1 trillion, of which bitcoin is just over 400 billion. What impact do you think it will have? I am also an investor in bitcoin, but I need reality and facts, not exaggerations and illusions, it is of no use to us. We should accept reality and support each other so that bitcoin and the community grow stronger and make a significant impact on the world.

[nesty]

Cryptocurrencies have the potential to impact the global economy, they can provide a more efficient and secure means of conducting transactions, particularly across countries. This could lead to increased trade and investment as well as reduced transaction costs.  Cryptocurrencies also pose a number of risks to the global economy. The volatility can make them a risky investment, and their lack of regulation can leave investors vulnerable to fraud and other forms of fraud. The rise of cryptocurrencies could threaten the stability of traditional financial institutions, particularly if they become widely adopted as an alternative to fiat currencies. The impact of crypto currencies to global economy remains uncertain. They also pose significant risks that must be carefully mananged in order to ensure their long term viability.

[coupable]

...
Is it true that cryptocurrencies will weaken the global financial system? That system which is managed by countries with the strongest economies with their currencies that has gained wide acceptance to be traded in financial markets all over the world.
...

will crypto weaken the global economy? the answer is no, because crypto's influence on the global financial system can be considered not too big. In fact, cryptocurrency will complement the global financial system by providing a faster, anonymous and secure payment system compared to what is offered by central banks, and this will be an option for those who want to make transactions internationally but don't want the hassle.

so there is no strong basis for saying that cryptocurrencies will be able to weaken the global financial system, because even though the crypto market is quite large, it cannot weaken the global financial system as a whole, unless everyone switches to cryptocurrencies where the possibility for that is small.

When I asked that question, it was on the grounds that it could reach the size that could authorize it to influence the global economy. And when I say that it can weaken it, I mean that it is able to offer better alternatives capable of building a strong economy to replace the old system.
With regard to the current situation, it is certain that cryptocurrencies are not of sufficient stature and size to carry out such effects, but it does not negate the fears of central financial institutions that have become more hostile to this technology and do not hesitate to set up ambushes to trap it in order to cause its popularity to decline. What is happening today with some platforms in US courts actually proves that the task is never easy.

[Uruhara]

Cryptocurrencies have the potential to impact the global economy, they can provide a more efficient and secure means of conducting transactions, particularly across countries. This could lead to increased trade and investment as well as reduced transaction costs.  Cryptocurrencies also pose a number of risks to the global economy. The volatility can make them a risky investment, and their lack of regulation can leave investors vulnerable to fraud and other forms of fraud. The rise of cryptocurrencies could threaten the stability of traditional financial institutions, particularly if they become widely adopted as an alternative to fiat currencies. The impact of crypto currencies to global economy remains uncertain. They also pose significant risks that must be carefully mananged in order to ensure their long term viability.

well everything has positive points and negative points in it. But for now the impact of cryptocurrencies on the global economy may still not look that big. Because as we know Crypto adoption has not even been evenly distributed. Even the adoption of bitcoin as a legal means of payment has also only been legalized by a few countries such as El Salvador and the Central African Republic if I remember correctly.

But in the future when people know more about what a centralized system is and what a decentralized system is and when the majority of people start to have a high interest in crypto then indirectly at that time crypto will really have an impact on the global economy. either from a positive or negative side.

[royalfestus]

One of the reasons people demand that Bitcoin maintains a market cap in the trillions, even during bear markets, is to minimize the extent of market dips. Currently, Bitcoin's market cap remains relatively low compared to commodities such as crude oil, natural gas, and various others.

[dezoel]

Every country's government system wants to control money.  Because bank transactions other than Bitcoin are controlled by the central bank, the central bank is the regulator of all the economies of the country that does not have the facility of Bitcoin transactions, but if a country has the facility of Bitcoin transactions, then the money that will be converted to Bitcoin will not be controlled by the government. This is probably why Bitcoin has not yet become an alternative currency worldwide. And because different criminals commit different crimes through Bitcoin, the governments of different countries take negative decisions about accepting this currency in their countries.

You are talking like the journalists from back in the days when Bitcoin was first getting popular who used to keep calling Bitcoin a criminal currency that is used to fund criminals and different illegal activities worldwide, some people still think the same way about it, and some governments use that as an excuse to not allow the usage of Bitcoin and cryptocurrencies within their countries and to keep their people away from it.

Do you think that normal money cannot be used for criminal activities? There are always two sides to anything, one is positive and the other one is negative, now it depends on you how you use it, but you cannot call a thing negative or positive only because it has both qualities, it's you who is either positive or negative because you use it that way.

[slapper]

Cryptocurrencies have the potential to impact the global economy, they can provide a more efficient and secure means of conducting transactions, particularly across countries. This could lead to increased trade and investment as well as reduced transaction costs.  Cryptocurrencies also pose a number of risks to the global economy. The volatility can make them a risky investment, and their lack of regulation can leave investors vulnerable to fraud and other forms of fraud. The rise of cryptocurrencies could threaten the stability of traditional financial institutions, particularly if they become widely adopted as an alternative to fiat currencies. The impact of crypto currencies to global economy remains uncertain. They also pose significant risks that must be carefully mananged in order to ensure their long term viability.

well everything has positive points and negative points in it. But for now the impact of cryptocurrencies on the global economy may still not look that big. Because as we know Crypto adoption has not even been evenly distributed. Even the adoption of bitcoin as a legal means of payment has also only been legalized by a few countries such as El Salvador and the Central African Republic if I remember correctly.

But in the future when people know more about what a centralized system is and what a decentralized system is and when the majority of people start to have a high interest in crypto then indirectly at that time crypto will really have an impact on the global economy. either from a positive or negative side.

Indeed, cryptocurrencies could redefine economic landscapes, particularly in global transactions. But can we judge if it's for better or worse? Isn't such ambiguity at the heart of a vibrant, evolving economy?

Though adoption is regionally biased, isn't this true for all early innovations? The internet or mobile tech serves as examples! Early adopters, like El Salvador or the Central African Republic, lead the way for cryptocurrencies.

With the growth of awareness around decentralized systems, so too will their uptake. We're stepping into a digital assets era. It's risky, but isn't every new domain? Let's welcome it, armed with prudence and stringent regulations!

[Uruhara]

.........

well everything has positive points and negative points in it. But for now the impact of cryptocurrencies on the global economy may still not look that big. Because as we know Crypto adoption has not even been evenly distributed. Even the adoption of bitcoin as a legal means of payment has also only been legalized by a few countries such as El Salvador and the Central African Republic if I remember correctly.

But in the future when people know more about what a centralized system is and what a decentralized system is and when the majority of people start to have a high interest in crypto then indirectly at that time crypto will really have an impact on the global economy. either from a positive or negative side.

Indeed, cryptocurrencies could redefine economic landscapes, particularly in global transactions. But can we judge if it's for better or worse? Isn't such ambiguity at the heart of a vibrant, evolving economy?

Though adoption is regionally biased, isn't this true for all early innovations? The internet or mobile tech serves as examples! Early adopters, like El Salvador or the Central African Republic, lead the way for cryptocurrencies.

With the growth of awareness around decentralized systems, so too will their uptake. We're stepping into a digital assets era. It's risky, but isn't every new domain? Let's welcome it, armed with prudence and stringent regulations!

So true. and actually those who are taking a step earlier like El Salvador are the ones who have the courage to innovate. although the economic conditions in their country also pushed the adoption of bitcoin. Because for now El Salvador still depends on the dollar because their own local currency has not been used for a long time. So bringing Bitcoin to their country may also have opened the eyes of some countries that have the same conditions as El Salvador. So then the Central African Republic also followed suit. and several other countries which are also still studying like Panama or others I forget.

well we have to welcome well and enthusiastically. and also be careful. every new thing that pops up is always on the lookout for but over time everyone will start to accept it equally. like the internet in the past. And all things certainly always have a positive and negative side. we just have to make good use of it and avoid its downside.

[Paul Pogba]

The growing marketcap of cryptocurrencies proves that many people are getting into cryptocurrencies, in many countries there are reports saying that the increase in users is very significant, this is what makes cryptocurrencies an investment that can make people successful and rich, of course we have to be selective in choosing cryptocurrencies because when it is available more than 25k cryptocurrencies.

[|MINER|]

Currently, the total market cap of crypto currency is around 1.07 trillion US dollars. And a few times ago in November 2021, its total market cap crossed over the $3 trillion. So it is understood that it is holding a huge amount of market. And the more the trade volume I think the more the impact on the economy is natural. So sometimes big crypto currency adopters of big countries can have some influence on other countries or the whole market for holding more amount. But I think it doesn't last long, still I think it's possible to eliminate it, to start global adoption instead of adopting it among less numerous people.

[coupable]

Currently, the total market cap of crypto currency is around 1.07 trillion US dollars. And a few times ago in November 2021, its total market cap crossed over the $3 trillion. So it is understood that it is holding a huge amount of market. And the more the trade volume I think the more the impact on the economy is natural. So sometimes big crypto currency adopters of big countries can have some influence on other countries or the whole market for holding more amount. But I think it doesn't last long, still I think it's possible to eliminate it, to start global adoption instead of adopting it among less numerous people.

Surely, the adoption of cryptocurrencies on a global scale may have positive effects on the economy, but we should take on consideration that this should be achieved with caution. In simple words to explain, it should be noted that the use of cryptocurrencies carries some risks, such as the risks of fraud, hacking and market manipulation. So this is why the necessary measures must be taken to protect users and investors. We can't also deny the fact that cryptocurrencies are still in the development and experimentation phase, which leads to the conclusion that a robust and secure infrastructure must be developed to support a global adoption. The challenge is not that easy imo .

[go-shiba]

Cryptocurrency is a form of digital money that uses cryptography to secure transactions and control the creation of new units. As a result, it is the first decentralized digital currency, and has been disrupting the global economy by providing a secure, borderless, and decentralized financial system. Cryptocurrency has enabled people to transact with each other without the need for an intermediary, such as a bank or government. This has opened up new opportunities for global commerce, with individuals and businesses being able to send and receive money without worrying about fees, exchange rates, or government interference. Furthermore, cryptocurrency has made it possible to store value without relying on traditional banking systems, making it a viable alternative to fiat currencies.