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

[Sebas.tian]

I think, adoption of Bitcoin in a country will help in so many ways that will make the citizens of that particular country to feel the impact of Bitcoin in all areas of their lives. Bitcoin has so much reward to such countries that will make it legal in their countries, because it will help the countries to reduced unemployment from the land and improve many business in their environment. El Salvador is one of the country that does that by adopted Bitcoin in their country to eliminated poor education, and low economy from the country that is making other countries to respect their current president that made it available for El Salvador to be the first country that adopted Bitcoin.

[Leviathan.007]

If you ask me I would like to say the country doesn't need to be economically broken in this case because bitcoin can be life-saving for any country and government if they know how to use it as they should use it, for example, El Salvador's governments invested on bitcoin and tried to use it to make their economic situation better while they didn't mistake and they invested at the moment when it is not a good time so that's why they are still not in a good situation. But generally, yes, investing in bitcoin can help with a country's economic situation.

[Dunamisx]

A delapidating economy can be improved with the impact of bitcoin if introduced, the reason why there has been increasing demand to know about bitcoin all over the internet is because of it nature of profitability and decentralization where by bitcoin does not loose value over time when invested, instead it appreciates and increases in it, the influence of inflation couldn't be felt with such a decentralized network and has served the purpose of restoring back the economy the ways it used to be.

[Cryptomultiplier]

The economy of a country has more to with the countries nGDP. Bitcoin can be an investment in the long run, but a country cannot be sustained by a sole dependence of its investment in Bitcoin.
Even as a last resort, a country without exportable products in any field/industry is surely reliant on other value it offers to the world.  A country would have exhausted all its means of making money, before even looking to the profits it has made from its investment in Bitcoin.
If they intend to mine Bitcoins, by building large farms for this purpose, are not in so much fiscal debt, and are technologically adept to keep up, explore, and secure in large detail the features and insight Bitcoin has to offer, then I can say it is possible to invest in Bitcoin to build a countries economy, but not for a hopeless case, because the yield takes time. It should be as an added source of income stream.

[nullama]

The economy of a country has more to with the countries nGDP. Bitcoin can be an investment in the long run, but a country cannot be sustained by a sole dependence of its investment in Bitcoin.
Even as a last resort, a country without exportable products in any field/industry is surely reliant on other value it offers to the world.  A country would have exhausted all its means of making money, before even looking to the profits it has made from its investment in Bitcoin.
If they intend to mine Bitcoins, by building large farms for this purpose, are not in so much fiscal debt, and are technologically adept to keep up, explore, and secure in large detail the features and insight Bitcoin has to offer, then I can say it is possible to invest in Bitcoin to build a countries economy, but not for a hopeless case, because the yield takes time. It should be as an added source of income stream.

True.

At the end of the day, Bitcoin can be used as a savings mechanism.

But the value itself needs to be created. It can be anything though, value doesn't have to be tied to Bitcoin in the creation, but in the saving part of it.

Most countries are interconnected these days, so inevitably Bitcoin will start to be accepted in more and more countries through the open market

[Nolik_19]

I think it will be difficult to translate the whole country, first people need to understand what it is

[Negotiation]

Possible to improve the economy through investment in bitcoin but for this the government needs to support it. Bitcoin is not legalized in many countries for being decentralized all financial transactions in the country must now accept Bitcoin as legal tender, except for businesses that do not have bitcoin transaction technology. Since the currencies of low income countries are quite weak, they have suffered a lot. When there are big fluctuations in the market and inflation is very high they are in a very fragile position.

[nullama]

I think it will be difficult to translate the whole country, first people need to understand what it is

People are not born with the ability to transact with bank accounts, credit cards, etc. It's all learnt, and once it becomes second nature it seems simple.

The same thing with Bitcoin, first you have to learn how to use it, etc, but then it becomes second nature.

These days you can even setup your own lightning network server with an NFC card (Bolt Card), and you can pay in sats (no conversion to fiat ever) by just tapping with your card, the same way you tap with a credit card for example.

It's just a matter of time until we have 3 standard payments, cash, card, bitcoin.

[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.

indeed investing in btc is very high risk, but in my opinion there is nothing wrong if people invest in btc to make a side job using idle money, and in my opinion all businesses are of course very risky as well as investing in btc.

but indeed I don't know much about bitcoin and crypto, but I want to know from you what is the difference between adoption and investment? I am very happy if you want to explain it...

[kotajikikox]

if the whole country will Connive together and invest in bitcoin ? then this will be a great  step to start a new beginning and go cashless society as we knew that the world is going online now and with the help of Bitcoin and also other cryptocurrencies , there will be a bigger solution for their drowning economy .
they will have less credit in worldbank things that most country suffers from.
and also the transactions will go faster and that is what each people needed now , though sometimes congestion is the most hated part of transacting , yet there is other option to conduct.
LN will also help small transactions to get through with lower fees.
and also good post OP, this add some flavor to the market going next to Bull running sooner.

[bitterguy28]

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.

good part in this point , yeah  independency don't need to be connected to anything but the country itself as they only need their people to develop other aspect of profiteering and generating income .
If they find those in crypto or in bitcoin generally then why not right?

[bluebit25]

Thinking a little bit about the use of bitcoin and rebuilding the economy, i think the OP is visualizing the problem in terms of what you know about small profits and imagining a big application for a other scale.
First of all, I strongly agree that using bitcoin is useful and there are risks associated with any economy, and economic recovery or growth will depend on many different factors specifically people, resources, energy, climate, relationships... and the fact that bitcoin as we can believe and see its potential but more frankly, fast development speed does not mean it's big compared to the economy.

[Alpha Marine]

We should never forget that Bitcoin is a currency. A currency can only do what a currency does. A strong currency strengthens an economy, but it doesn't mean if a  country has a strong currency it economy would flourish.

If a country adopts Bitcoin, yea it would help some people in various ways. It would make some people richer through different ways like trading, investing, and different job opportunities that Bitcoin creates, but ultimately I don't think it can save an economy from bankruptcy or resuscitate an economy, but I believe in making a few people richer it has contributed to the economy one way or the other.

[nullama]

We should never forget that Bitcoin is a currency. A currency can only do what a currency does. A strong currency strengthens an economy, but it doesn't mean if a  country has a strong currency it economy would flourish.

If a country adopts Bitcoin, yea it would help some people in various ways. It would make some people richer through different ways like trading, investing, and different job opportunities that Bitcoin creates, but ultimately I don't think it can save an economy from bankruptcy or resuscitate an economy, but I believe in making a few people richer it has contributed to the economy one way or the other.

It does keep it's value over time, because you cannot simply create more of it.

I can understand why some people in power don't want Bitcoin, because they would lose the ability to print more money when they want to.

[rikybrosh]

it is possible, actually it is not only bitcoin. youtube, tiktok and etc was proof that people can earn money from internet which will also improve country economy. there is no limitation of money velocity in bitcoin, google adsense, tiktok gifts and etc. money from all around the world can come to us, what we only need is internet connection. although a country don't have enough natural resource but as long as they have money they can buy that from other country.

[Bitcoin_people]

Most of the countries of the world are economically backward, very few countries are economically developed. But if we focus on whether Bitcoin can improve the economy of any country, then I would definitely say yes. Because we have seen many countries use Bitcoin to advance their economic management. Especially in a country like EL Salvador where people were constantly forming different gangs and economically they were very backward. But since the time when the Salvadoran government recognized Bitcoin, their economic position has gradually improved. Where all transactions are done by Bitcoin, we can say that it is possible to improve the economic position of a country by Bitcoin. There are many other countries that have advanced economically by investing in Bitcoin and they have invested in Bitcoin to improve the country economically.

[Blitzboy]

Most of the countries of the world are economically backward, very few countries are economically developed. But if we focus on whether Bitcoin can improve the economy of any country, then I would definitely say yes. Because we have seen many countries use Bitcoin to advance their economic management. Especially in a country like EL Salvador where people were constantly forming different gangs and economically they were very backward. But since the time when the Salvadoran government recognized Bitcoin, their economic position has gradually improved. Where all transactions are done by Bitcoin, we can say that it is possible to improve the economic position of a country by Bitcoin. There are many other countries that have advanced economically by investing in Bitcoin and they have invested in Bitcoin to improve the country economically.

Due to Bitcoin, those in developing nations without bank accounts have access to opportunities they have never had before. People can utilize "digital cash" instead of going to a bank thanks to it. It is now simpler for people to participate in the global economy.

But we also need to consider how technologically behind many of these nations are. Some people lack the necessities to use Bitcoin. This may widen the income gap, making it more difficult for those without access to advance in life. Bitcoin therefore has promise, but its use should be a part of a bigger strategy that also includes funding digital education and infrastructure.

[Crypt0Gore]

It's possible, a country can invest heavily into Bitcoin and that will bring a better future for the country, this is why I pity some poor countries that still went on to ban Bitcoin in the country, they are so blind to see what opportunity is waiting for them right now and there is nothing we can do about it.

Also if the country is in the hands of corrupted souls there won't be any improvement even if they Invest all they have in Bitcoin, by the time the in investment is ripped enough they already have bad intent for the money, so if a country with bad leaders adopts Bitcoin it won't make any difference.

[laurenB7742]

It's possible, a country can invest heavily into Bitcoin and that will bring a better future for the country, this is why I pity some poor countries that still went on to ban Bitcoin in the country, they are so blind to see what opportunity is waiting for them right now and there is nothing we can do about it.

Also if the country is in the hands of corrupted souls there won't be any improvement even if they Invest all they have in Bitcoin, by the time the in investment is ripped enough they already have bad intent for the money, so if a country with bad leaders adopts Bitcoin it won't make any difference.

Do you have any solid evidence that bitcoin will appreciate and become profitable in the future? Or will it never crash or drop to a price we never thought of? Governments would not foolishly bet the fate of their countries on a volatile and uncertain asset like bitcoin. As president, they need to ensure the safety of their people and country.

Bitcoin is just money, an investment tool, it does not create jobs, has no practical application, it cannot help the economy of any country improve. We should be realistic and not exaggerate bitcoin excessively.

[Reatim]

Why does people nowadays keep asking this same question , when we can just look at what happened in EL Salvador after their action in which the very first country to adopt bitcoin as legal tender.

is their any big happening in the country? do their economy grows and increases while adoption is happening?

if does then good , but I believe it is a NO? so you already knew what is the answer here?