is it possible to invest in bitcoin to build a country whose economy is down?

[Kaliandra]

Of course, we certainly know that not all countries in the world are progressing, especially in the economic field.

I want to ask everyone, can adopting bitcoin help a country's economy? especially countries that are experiencing bankruptcy, for example, as experienced by our brothers in the country of Sri Lanka.

but if my think can! a country by adopting bitcoin will help its economy, as long as it is adopted on a large scale.
for example as follows:

: all people who can afford it are obliged to invest in bitcoin, but of course investing in bitcoin is only made as a side job. but of course investing in bitcoin must be in accordance with the capabilities of the community, because society of course consists of rich people and poor people, but in my opinion investment in bitcoin can be achieved by all people, because investing in bitcoin can start with small capital or large capital .

So in that way I think the people's economy will be helped, so in this way a country's economy can also be helped because the community invests in bitcoin.
and finally the government must provide lessons about bitcoin to its people, or add it as a new subject for students, and also provide special lessons for those who are not in school, namely so that people know the risks of investing in bitcoin,
etc.

what is my understanding like that, I ask for your opinion from all of you?

[Bitcoin_Arena]

Before we go any further, you have to understand how the market works and also not everyone will "get rich in the game" When you make profits, it means someone on the other side of the trade/investment has made a loss

Assuming the Citizens are all told to invest in Bitcoin in the current price and 3 years later, bitcoin price is the same or down like $10K, would you still say the investment has built the country's economy?

Investment should be a choice, and I think adoption and investment differ a bit.

[BlackBoss_]

So in that way I think the people's economy will be helped, so in this way a country's economy can also be helped because the community invests in bitcoin.

what is my understanding like that, I ask for your opinion from all of you?

Bitcoin is for everyone freedom but it was not created to help governments fixing their loopholes in their central bank systems and their economies.

If they want, they can join and use their national treasuries to stack Bitcoin but if their economies are weak and vulnerable to global financial crashes and shocks, Bitcoin can not help.

Community are biggest power but if governments support Bitcoin, accept it as one of payment methods or better make it legal tender, it will be beneficial for their communities and citizens but again it won't help to avoid their economic crash from central banks.

[rat03gopoh]

It's possible, for the record that bitcoin isn't the subject of growth (in this case investment is not the main way, but earn). Let the community be more independent and don't limit their scope of earning opportunities to increase per capita income. For example, if people can generate bitcoin from their expertise or whatever, then the government should relax the rules and (if necessary) provide supporting facilities.

[naira]

Instead of Sri Lanka having to build investments into Bitcoin at a time of massive economic downturn that doesn't know where it will end, it is better for them to build up wealth resources so they can be used to boost the country's growth first. I know that Bitcoin has a fantastic value or indeed your narrative is built when looking at the current price of Bitcoin. But do you know how the Bitcoin market with high volatility can experience ups and downs in value?

Sri Lanka economic collapse was due to the government's inability to manage natural resources and prioritize personal interests. Meanwhile, the role of a leader or more precisely a representative of the people means devoting himself, his knowledge, and all his abilities to provide welfare to the people. Look at the story of Sri Lanka where they didn't have such a leader. If the leadership is still vulnerable to personal issues, how will they focus on Bitcoin investment vehicles that could be taken over by the government at any time?

[Wexnident]

Wouldn't said obligation only benefit themselves in the end, and not really the economy of the country? In the end it looks like even if it was a success, it'd just be a temporary respite and wouldn't really deal with the core of the problem, whatever it may actually be. Plus, if this was known, there's a chance of people manipulating the market in a bid to temporarily profit off of something off of it, it's still an entire country investing after all.

And in the end, it also kills the idea of what an investment is. Forcing everyone is not the way, not to mention the possible risks involved.

[8rch7]

Personally, I think it's only beneficial from an individual standpoint, not for the state, because from an individual point of view the use of bitcoin is very profitable because the process is very fast, privacy is maintained and tends to be immune to the state's financial conditions, making a deposit into bitcoin is exchanged into fiat currency, so if massive amounts can bring down FIAT currency, besides that the state also has no power to track transactions so the state cannot profit from bitcoin.

[hatshepsut93]

Bitcoin is a speculative asset that tends to go up. But you need to hold it for a few years on average to see a profit. And a country in a crisis might not be able to afford that. Imagine using your last budget money to go all in on BTC only to see it slide further in a bear market, while your people are without their salaries for 6 months, there's no money for healthcare, military, police and so on. How long will you be able to hold on until you are forced to sell at a loss?

[lionheart78]

Investing in Bitcoin in a large scale have its benefits and drawbacks.

Bitcoin can be an alternative source of capital for investment that can help stimulate economic growth.  It also increases financial inclusion where the unbanked and underbanked are rampant in a country since it allows these individuals to participate in the  economy and access financial services that they previously couldn't.

Bitcoin can also be a store of value that protect savings from inflation.  And most of all Bitcoin can prevent fraud because of its transparency and auditability.

[Davidvictorson]

I want to ask everyone, can adopting bitcoin help a country's economy? especially countries that are experiencing bankruptcy, for example, as experienced by our brothers in the country of Sri Lanka.

Yes, adopting bitcoin help a country's economy. Bitcoin has demonstrated its ability to aid in the political and economic development of poor nations. The expansion of financial inclusion is bitcoin's most important advantage in developed nations. In this way, it can quicken the development of a variety of industries, cutting-edge technologies, and innovations that are essential to the expansion and advancement of the economies of emerging nations. Innovations based on cryptocurrencies are advantageous to developing countries.

[Oneandpure]

No matter about your economy country down or not for adopting Bitcoin, I think when try to invest in Bitcoin actually based on how price going up or down to reach much profit later. Its seems not 100% will help some country when their economic is down if investing Bitcoin still on higher price, will help them later invest and adopted Bitcoin when price still down.

Nowadays, many countries faced crisis after Russia invasion to Ukraine but day by day will recovery and having better economy increase up, don't worry when have country adopted Bitcoin will get increasing up tourist and help economic country.

[klidex]

If a country adopts and invests in Bitcoin with the aim of making it a savings if in the future the country will experience an economic downturn, it will be very beneficial.
It's different, if the country has experienced a new economic downturn, adopting or investing in Bitcoin will be in vain because it's too late with what was intended.
Investing in Bitcoin takes a long time, so it is difficult to get sudden and fast profits.
But I think only a few countries whose governments have the thought and initiative to use their country's money as an investment in Bitcoin for the country's economic progress in the future.

[cabron]

El Salvador is doing it in thier country. It's not necessary for them to do it but it's Bukele's decision he must have in mind of becoming not dependent on USD since thier country uses USD before BTC. He surmised everything will be good after making BTC a legal tender.  The show isn't over though, he technically encountered hardships maybe every bear market but he would learn from this.

Sri Lanka, they have the advantage because there is India and China which are rising powers in the east. They can just make a deal with them for economic support.

And let BTC work for the individuals who want to join the decentralized currencies.

[famososMuertos]

Bitcoin not improving economies in the immediate effect, Bitcoin primarily empower individuals.  But it is a technological tool that, when well oriented, can channel economic objectives and be a part but not the whole.

[Kaliandra]

Before we go any further, you have to understand how the market works and also not everyone will "get rich in the game" When you make profits, it means someone on the other side of the trade/investment has made a loss

Assuming the Citizens are all told to invest in Bitcoin in the current price and 3 years later, bitcoin price is the same or down like $10K, would you still say the investment has built the country's economy?

Investment should be a choice, and I think adoption and investment differ a bit.

then I want to know the difference between adoption and investment?
Yes, indeed, if Bitcoin goes down, of course, if you can't hold it firmly, the conclusion will be a loss.
but as I said, bitcoin investment is made as a side business, not the main business, because if it is made the main business, of course we are afraid that the price will not match what we expect.

[mindrust]

Investing in bitcoin has nothing to do with fixing a country’s economy. Bitcoin can’t fix stupid. It is the other way around. You use bitcoin if you are smart.

If the majority is stupid in a country, whether you use bitcoin, fiat or crypto it doesn’t matter. The result will be the same. People will suffer. They will suffer for their own choices because they are stupid.

You invest in bitcoin or whatever asset you prefer only to reward yourself. It is only your business.

[Merit.s]

Investing in bitcoin is something of choice and not a most because it is not everybody that will love the idea to invest in bitcoin. The volatile nature makes it not an assets that can boost the economy of a country but it can help citizens of that country,if the country adopts bitcoin,it will create a self-employed job for individuals and this will help to reduce poverty within the people, but it an't add any positive impact that will help the economy to grow. Bitcoin best way of hodling is a long term one not short term,this is where the challenge lies.

[dkbit98]

what is my understanding like that, I ask for your opinion from all of you?

Bitcoin is not a magical stick that fixes all the problems in one country, and I doubt it can help entire country as long as there is corruption and other problems.
It can certainly help some individuals in that country, and maybe slowly spread and expand circle of adoption to more and more people.
We have few examples of countries with bad economy trying Bitcoin experiments, but making Bitcoin a legal tender in some country can certainly attract bitcoin oriented investors.

[uneng]

If it will be good or not it will depend on the currently moment the market is facing. For an example, if a government from a bankrupted country advised their citizens to start investing in BTC in November 2022, today they would have seen an increasement of about 45% over their investments, which would consequently boost the local economy of the country, without any doubts.

However it's a risky deal, because in the same manner BTC rised almost 50% of its price in 2 months, it could have also decreased 50% on that same time period, leading the bankrupted country to an even worse scenario.

To rebuild a country from scratches I believe it's needed more than Bitcoin. It's needed a lot of labor, good will, partnership and patriotism from countrymen. When people work together and don't fight among themselves all the time, they can go further. That is the example of evolved nations which developed technology and life quality for their people.

[TimeTeller]

what is my understanding like that, I ask for your opinion from all of you?

Bitcoin is not a magical stick that fixes all the problems in one country, and I doubt it can help entire country as long as there is corruption and other problems.
It can certainly help some individuals in that country, and maybe slowly spread and expand circle of adoption to more and more people.
We have few examples of countries with bad economy trying Bitcoin experiments, but making Bitcoin a legal tender in some country can certainly attract bitcoin oriented investors.

I am also on this side, it is not a miracle currency that can transform the economy of a certain country which has economic problems.
Yes, it may help some of its people but it doesn't mean that making bitcoin a legal tender will be the gateway to economic success.
It depends on how the government will utilize the use of btc to their advantage. As you said, they may use it to attract investors.
However, there is no guarantee for such path as there are too many factors that are involve in the economic situation of each country.