does bitcoin help in your economy?

[Husires]

I think the premise of the question is wrong. Does investing in gold help your economy and your family's economy? Does investing in stocks help your economy and the economy of your family? and others.
The basic idea of investment is to maximize surplus money. This increase in money is transferred to another form of investment or to improve the quality of life. Therefore, regardless of the nature of the investment, any investment is supposed to help your economy and the economy of your family. Failure to do so means that you either choose an investment that does not work for you or That your successor to invest was not enough.

[el kaka22]

It can, and it does. I had 2 times in my life when I had to cash out my crypto, and both times I had big issues that I could never solve without crypto, it allowed me to fix all the problems and I also got a big help from my boss as well, combined those two things together and I managed to overcome all of my troubles.

Just recently I had to cash out again and if I didn't invested into bitcoin, I have no idea what I would have done, which is why I believe that it is very paramount to my future that I keep investing into bitcoin at all times. This is why I do not trade it nor wait for it to drop, as soon as I get some money, that goes right into bitcoin.

[LogitechMouse]

I believe that there are many people here in our country that are earning thru Bitcoins like me, and to answer that question, obviously yes.
Me paid thru Bitcoin > I convert that Bitcoin into cash > I used that cash to buy some goods > I helped the economy already.

I mean it isn't Bitcoin directly, but we're converting it into our own currency and that's what we are using to buy. I guess this is pretty obvious already right? Why OP needs to ask a question to it?

To be honest any people who invest in Bitcoin aren't losing, most people are lost because they're trader and don't want to hold it at least for four years long.

That's the problem. They don't want to hold Bitcoin for a long time and yet, they are jealous to those early adopters who are now millionaires because they've been holding their Bitcoins for nearly a decade already.

If investors want to at least have a large profit in Bitcoin, they have to hold it for a long time - say at least 5 years or longer because the longer, the better.

[MoonOfLife]

In my country NO because only few users invest on Bitcoin and the majority invest on shitcoins and ponzi investment.

This is not only happening in your country, but I believe it is happening everywhere. Because everyone thinks getting rich with shitcoin or a ponzi project is faster than investing in bitcoin. But unfortunately, no one can get rich from ponzi.

Bitcoin has also brought me a lot of profit, it can be said that bitcoin helps me improve my economy a lot. I am really grateful for bitcoin.

[Woodie]

there are many people investing in bitcoin, some are profitable and some are losing. and I believe bitcoin has a big advantage. The question is whether when you benefit from bitcoin, you can help your economy and your family?

In some way I can say I do contribute to growing my economy as I use my btc funds to purchase goods and services that have taxes attached to them.
But unfortunately if these funds go to say gambling or trading then there is no way it will benefit. So basically If I win and spend locally , then the economy gets to win too .

I believe other country that has an active crypto transaction and law helps their economy because people use Bitcoin as investment through trading and holding which government get tax on it.

These are the countries with sober minded people that know what's best for the government coffers and the people, and in such can motivate its citizens to send more of their crypto funds unlike spending our coins in hiding...very commendable move!

[lionheart78]

there are many people investing in bitcoin, some are profitable and some are losing. and I believe bitcoin has a big advantage. The question is whether when you benefit from bitcoin, you can help your economy and your family?

If you are saying benefit as in profited from Bitcoin, it is obvious that it helps my family.  I can then participate in my country's economy by having funds to buy food and other stuff that the government put taxes on so it does help the economy of my country.

Aside from that Bitcoin also bridges unbanked and underbanked people to participate in an online economy of a country.  So when an unbanked person got the availability to transact online, it also means that the transaction also helps in the economy of a country.

[rby]

there are many people investing in bitcoin, some are profitable and some are losing. and I believe bitcoin has a big advantage. The question is whether when you benefit from bitcoin, you can help your economy and your family?

Obviously no one makes genuine money without helping his family even if you are going to ignore the whole community but your immediate family must benefit from the wealth you have acquired and that is only when it will be called a wealth.
Once it concerns bitcoin you don't need to benefit financially before your family and community begins to benefit. You can teach them the knowledge of Bitcoin and on their own they can make profits in the future when they must have learnt the things of Bitcoin and mastered it.

[virasisog]

there are many people investing in bitcoin, some are profitable and some are losing. and I believe bitcoin has a big advantage. The question is whether when you benefit from bitcoin, you can help your economy and your family?

I can say, yes, it helped my family a lot. Bitcoin has saved me during the pandemic especially when the lockdown happened and our company has stopped operating. I leaned on Bitcoin trading which made us survive for I was able to provide all our necessities through it. Since there are lots of Bitcoin users in our community, I also believe that it helped our economic situation because it has provided a good source of income to those who have lost their jobs.

[Jensen Guttenberg]

I usually use bitcoin as an investment tool and I usually make short term investments. Still, I couldn't say that bitcoin helps me economically because I invest in small amounts and don't get many profits, sometimes I even lose. But I believe that bitcoin will be more beneficial to me in the future.

[Merit.s]

Bitcoin has help me in my business and has made my relationship with customers more credible. Bitcoin is also my economy directly or indirectly in the sense that you must change your btc to your local currency before using it in the market. I have workers I pay, this is a way to create employment opportunities for the people around me. This will help the economy because they will spend the money they earn. Bitcoin has brought so many opportunities to its users and the country that adopted it. My country hasn't accepted the adoption of bitcoin but citizens are using it and it isn't a problem to the government.

[Ryu_Ar1]

I'd say for now at least this is getting right. Despite the current state of affairs the downturn did occur and I can still be said to be new to crypto but I have experienced the benefits and not even once or twice.
Indeed, this was not the initial goal because basically this is one of the tools for my investment for the future, but on the other hand, being in crypto makes me more comfortable and I can still meet my needs from my work and the help from crypto is proof for myself.

[Ludmilla_rose1995]

there are many people investing in bitcoin, some are profitable and some are losing. and I believe bitcoin has a big advantage. The question is whether when you benefit from bitcoin, you can help your economy and your family?

as my side income, bitcoin helps my finances. The cryptocurrency ecosystem is truly amazing, my life changed 180%, and I have personally benefited greatly from it so I will continue to be loyal to Bitcoin. I hope the ecosystem of cryptocurrency can help the economy of many families in my country in the future, this is truly an extraordinary thing.

[fuer44]

there are many people investing in bitcoin, some are profitable and some are losing. and I believe bitcoin has a big advantage. The question is whether when you benefit from bitcoin, you can help your economy and your family?

If what you mean is profit that is only obtained from bitcoin, then my answer is no. But if what you mean is getting profit from bitcoin world (anything related to bitcoin and crypto world), then my answer is yes. More precisely earn income from bounty campaign results.

[fuer44]

there are many people investing in bitcoin, some are profitable and some are losing. and I believe bitcoin has a big advantage. The question is whether when you benefit from bitcoin, you can help your economy and your family?

as my side income, bitcoin helps my finances. The cryptocurrency ecosystem is truly amazing, my life changed 180%, and I have personally benefited greatly from it so I will continue to be loyal to Bitcoin. I hope the ecosystem of cryptocurrency can help the economy of many families in my country in the future, this is truly an extraordinary thing.

Maybe you can be more specific about which sectors you get income from bitcoin because I'm also interested. Is it from investing, trading, mining, or something else?

Your answer will be very helpful
Thanks

[Wexnident]

Not really no. My portfolio hasn't grown to the point where it can positively affect my financial situation (nor negatively ofc), and I have no plans of letting it do so until the profit I get has reached the goal that I set for myself. It doesn't help that I'm just hodling it and not trading though. It has helped me in the past though, I've had a few small transactions paid with Bitcoin and some small profits here and there, but nothing big imo. Planning to hodl for at least 2 more years at the minimum before I even think of getting out with whatever profit I have.

[Sayeds56]

there are many people investing in bitcoin, some are profitable and some are losing. and I believe bitcoin has a big advantage. The question is whether when you benefit from bitcoin, you can help your economy and your family?

I have been investing in Bitcoin and other crypto industry since 2017, and it helped me a lot to improve financial condition of my family. It is a growing industry, by investing in this technology, we are contributing to its development, which in turn has potential to create new job opportunities for younger generation.

I believe that, investing in crypto currencies is not beneficial for improving personnel finances but also has wider economic benefits.

[xSkylarx]

there are many people investing in bitcoin, some are profitable and some are losing. and I believe bitcoin has a big advantage. The question is whether when you benefit from bitcoin, you can help your economy and your family?

as my side income, bitcoin helps my finances. The cryptocurrency ecosystem is truly amazing, my life changed 180%, and I have personally benefited greatly from it so I will continue to be loyal to Bitcoin. I hope the ecosystem of cryptocurrency can help the economy of many families in my country in the future, this is truly an extraordinary thing.

Maybe you can be more specific about which sectors you get income from bitcoin because I'm also interested. Is it from investing, trading, mining, or something else?

Your answer will be very helpful
Thanks

Sorry to interfere but for sure he is getting profit from trading as mostly he talks about trading and about bitcoin speculation. I think most of us earns on this , mining right now is getting difficult you need to have a farm to see the big profit on it but if you are just mining on your own then the profit is low and brought you small money but still you have passive income. Most of my friends that tried mining before quited right now its because the electricity is very expensive in our country and they switch to future trading.

[Yatsan]

It helps certain individuals especially those who has the money for investments. Some projects do also help people such as those which has paying airdrops, campaigns, and other tasks but that speaks for this industry in general not only Bitcoin. Bitcoin will only help the economy of a certain or particular country if transactions under this chain would be taxed 'coz if it will be few people who'd benefit from it I cannot see Bitcoin helping the economy of my country. This industry is neutral in my area wherein it is not prohibited but is also not supported or being promoted to people. Economy is different from wealth of people in a country, just to break the misconception.

[S A KHAIR]

It helps certain individuals especially those who has the money for investments. Some projects do also help people such as those which has paying airdrops, campaigns, and other tasks but that speaks for this industry in general not only Bitcoin. Bitcoin will only help the economy of a certain or particular country if transactions under this chain would be taxed 'coz if it will be few people who'd benefit from it I cannot see Bitcoin helping the economy of my country. This industry is neutral in my area wherein it is not prohibited but is also not supported or being promoted to people. Economy is different from wealth of people in a country, just to break the misconception.

Bitcoin only makes many individual economies better, but bitcoin cannot help the economy of a country. The impact of bitcoin on the economy at a macro level like the country or the world is nonexistent.
Bitcoin has also improved my economy as I have been lucky to get huge returns on bitcoin investment since 2017.

[savetheFORUM]

there are many people investing in bitcoin, some are profitable and some are losing. and I believe bitcoin has a big advantage. The question is whether when you benefit from bitcoin, you can help your economy and your family?

Well, maybe somehow it can affect the economy since if we earn/get bitcoins or any other cryptocurrency from any medium or way, we use that in our local currency to spend on our daily lives and stuff, which generates sales and sales generate taxes for the government and that surely adds to the economy.

About the family part, if you are earning well, it's surely helping your family and fulfilling their needs through you. I know that a lot of day traders are living their lives off of their profits through trading (if they are doing it well, by taking calculative risks), and that is possible if you have a good enough capital to start with and some knowledge and experience at hand. You can surely support your family through it.