Effects of Crypto and Bitcoin on the Economy

[Bitcoinislife09]

A cryptocurrency become popular in many countries in the past years, one of the reason is the spike of the market price of Bitcoin which become a trend. There are a lot of people that wanted to invest on it because of the profit on cryptocurrency especially on Bitcoin where a lot of people believed. There are also cryptocurrency that become popular like Ethereum, Dogecoin, XRP etc. But what is the effects of cryptocurrency on the Economy?

The cryptocurrency like Bitcoin gives us investment opportunity, With the spread and trend of cryptocurrency, many of us have invested in it because it can potentially provide us with high profits, even though it comes with significant risks. Having this opportunity has allowed many of us to earn, and as a result, our capacity to establish businesses that can contribute to the country's economic growth has grown.



In the cryptocurrency industry, only a few people have enough knowledge about it, and professionals with skills and knowledge in blockchain technology, programming, etc. are needed. The Cryptocurrency has created jobs in our country. Many crypto-related businesses have emerged in a lot of country, such as exchanges, which many investors use and surely hired professionals. If the spread of crypto continues to grow in a lot country, it can provide many more job opportunities.



Because of crypto a lot of people become familiar at knowledgeable when it comes to Saving . Crypto helps a lot of people, because a lot of people learn how to manage their financial, including the transitions of using traditional banks. A lot of use change our perspective when it comes centralized platforms like banks. That helps us invest for our future.



Cryptocurrency helps us a lot because of the fast and secure transactions, instead of using the traditional fiat currency. It helps a lot because we can make a fast transaction where ever we are using cryptocurrency.


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Epekto ng Crypto at Bitcoin sa Ekonomiya ng bansa

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[Zaguru12]

The evolution of Cryptocurrency or let me say bitcoin has actually made everyone see the importance of having control over one’s finance. It is one of the best asset for investment as it is a store of value and gives an ROI. But this is only secure when the investment is on bitcoin and not other Alticoins.

Cryptocurrency has several impact on the economy but the best of them is the cross border transactions. Before the arrival of bitcoin it was not easy to send funds from one countries currency to another, this process is usually slow down by the commercial bank’s policy. But with bitcoin it is easier to send funds directly to someone in another country and this has made business transactions easier.

This topic also has been discussed for umpteenth time in this forum, you could search for them to look at the discussions there

[knowngunman]

Nice thread despite that you only focus on the positive effects while negative effects can also not be overlooked. Crypto is really playing a vital role in today's world economy particularly in my own country. It's sad that majority of our youths engage in one crime or the other such as internet fraud popularly known as yahoo.

The coming of crypto has drastically reduced the number of idle youths who now engage themselves in form of crypto related business like trading, investing, crypto vendor and the likes. Crypto is serving the purpose of providing job that the government has failed to provide for the youths yet its still not grants free access to crypto.

[Forever101]

Nice thread despite that you only focus on the positive effects while negative effects can also not be overlooked. Crypto is really playing a vital role in today's world economy particularly in my own country. It's sad that majority of our youths engage in one crime or the other such as internet fraud popularly known as yahoo.

The coming of crypto has drastically reduced the number of idle youths who now engage themselves in form of crypto related business like trading, investing, crypto vendor and the likes. Crypto is serving the purpose of providing job that the government has failed to provide for the youths yet its still not grants free access to crypto.

You have said it all my brother, the truth is that many young people in our country lack patience to wait for the time to make money, greediness has taken over where everyone need quick money for selfish and indecent life. The government have their blame on one side however, the young people are be blamed if they neglect the great opportunity in cryptocurrency and start looking for quick money without working

As the op have mentioned, Cryptocurrency has affected the world economy as many person have moved their money from banks to Non custodial wallet and cold wallet. With the Cryptocurrency positive side, the volatility is major threat to people who are too rmotional.

[bayu7adi]

In the cryptocurrency industry, only a few people have enough knowledge about it, and professionals with skills and knowledge in blockchain technology, programming, etc. are needed. The Cryptocurrency has created jobs in our country. Many crypto-related businesses have emerged in a lot of country, such as exchanges, which many investors use and surely hired professionals. If the spread of crypto continues to grow in a lot country, it can provide many more job opportunities.

~~~

Cryptocurrency helps us a lot because of the fast and secure transactions, instead of using the traditional fiat currency. It helps a lot because we can make a fast transaction where ever we are using cryptocurrency.

The distribution of knowledge about cryptocurrency in the world is still very uneven and limited due to government policies. In each country, there is a different level of public adoption depending on government policies.

Regarding jobs, few people actually understand cryptocurrency, even if they have been involved in the crypto world for several years. Nowadays, many people are making money from cryptocurrency, which is called opening up job opportunities. However, for some people, their actual job is a regular job that only requires ordinary skills.

The concept of fast transactions when using cryptocurrency to buy goods is very relative. In some cases, the availability of infrastructure is the main obstacle to this. This is different from credit cards, which are already quite popular. However, I prefer to pay using cryptocurrency, especially LTC and sometimes BTC for purchasing virtual goods such as RDP, VPS, or gambling services.

[Hispo]

I continue to stand and defend my personal point of view that the impact of Bitcoin is highly dependent on the context of each nation.
Argentina, Venezuela and Nigerian are examples of countries where Bitcoin and other altcoins have increased in adoption and volume, because the traditional banking and financial instruments have failed or are very weak in the pursue to provide to their people with reliable means of managing money and secure value.

The impact in countries with strong and stable economies are not so obvious, people there still have or think to have reliable banks, centralized wallets and currencies.

Bitcoin in the end, besides being a decentralized currency is also a safeguard against reckless governance, which Venezuela, Argentina and Nigeria have in common.

[tabas]

There's no doubt that the impact of Bitcoin and other cryptos in one's economy has been really big. We can just start out with the start of the pandemic and people who have thought that Bitcoin has saved them by that time because they've held it and then as jobs were halted at those times, they've used their holdings for it. It's true that saving = holding and this is what having bitcoin has taught us. We're spenders before and ignorant of how important is to save but then when we started owning bitcoin, we've learned it from the crowd that we should hold as well just as them.

[uneng]

OP mentioned decent points regards impacts of cryptocurrency on the economy. Thanks to crypto and Bitcoin in special, average citizens from every corners of the world have access to investments and jobs' opportunities not available before. The impact on the society is that there is a higher flux of money circulating, which benefits every sectors of the society, since money is constantly moving, like the waters of a river.

Maybe what I said isn't seen is large scale yet by most people, but they do exist, and those individuals involved on these economical chains are really satisfied and proud for having found Bitcoin on their lives.

As example of those economical chains benefited by Bitcoin and crypto, we can mention investors who are in profit with their BTC investments and digital workers, like Bitcointalk's members who are engaged to signature campaigns.

[GeorgeJohn]

Yeah I'm in the support of opinions that while bitcoin became influential is because of the profit that made people to make in past years, but upon that many people were afraid of investing in bitcoin  because of the information that was speculating that bitcoin is been used for money laundering, and many countries government began to redtrict the adoption of bitcoin and deprived bitcoin to be a legal tender in some of the influential or prominent countries, so I believe that what makes bitcoin today to become popular is as result of government attacks in different countries, but many people will think that while bitcoin have grounds today is as result of the increment preciously and benefits of people towards that period.

[Cuenta Alternativa]

It's a thread that at first glance looks nice, but it has some major flaws, like you putting bitcoin and other cryptocurrencies on the same level, when bitcoin is essentially different because it is so much better. Conversely, altcoins are essentially rubbish.

For instance:

Because of crypto a lot of people become familiar at knowledgeable when it comes to Saving . Crypto helps a lot of people, because a lot of people learn how to manage their financial, including the transitions of using traditional banks. A lot of use change our perspective when it comes centralized platforms like banks. That helps us invest for our future.

Here you obviate that all other cryptocurrencies are centralised junk, unlike bitcoin.

What I do agree with you is that crypto in general has created new jobs, but not the rest where you equate bitcoin and the rest of the rubbish.

[YUriy1991]

Cryptocurrency helps us a lot because of the fast and secure transactions, instead of using the traditional fiat currency. It helps a lot because we can make a fast transaction where ever we are using cryptocurrency.

Appropriate. Cryptocurrencies have helped people become more knowledgeable about saving and managing their finances. Through the use of cryptocurrencies, many are moving away from traditional banking and gaining new perspectives on centralized platforms such as banks. This has allowed them to invest more wisely in their future. By providing a fast and secure way of transacting, cryptocurrencies also make it easier for people to manage their finances from anywhere. Overall, from what you said, cryptocurrency has a positive impact on education and financial management, especially for young people who are passionate about investing in the money market.

[dansus021]

Bitcoin or crypto is growing industry and it does have effect on multiple things including the economy and don't forget that the first legal country El savador is one of the proof in economy and dozen of merchant that accept Bitcoin.

Transfer with low fees and doesn't have border is always be good economy benefit in my opinion

[Fiatless]

You are on point Op when you identified that Bitcoin and the crypto industry have created employment opportunities for many people in some countries. Many people have also used the sector as a side job to complement their income. Bitcoin is one of the fastest and safest sectors to invest in. Investing in some sectors requires some cumbersome bureaucratic process that makes it time-consuming. But all you need is just a wallet to buy and hold your investment. Many banks are failing making their shareholders lose their funds but over the years the bitcoin sector has been consistent.

In some countries, bank transactions are not reliable. But Bitcoin is competing with these banks and many people are seeing the sector as a good alternative to fiat banking.

Saving is a habit that is cultivated, so I don't think only the Bitcoin sector is helping people to save. If you don't have the drive to save, you will never be able to set funds aside for future investment.

[posi]

Bitcoin or crypto is growing industry and it does have effect on multiple things including the economy and don't forget that the first legal country El savador is one of the proof in economy and dozen of merchant that accept Bitcoin.

Transfer with low fees and doesn't have border is always be good economy benefit in my opinion

But honestly, we haven't seen any significant progress in El Salvador's economy since they accepted bitcoin as a legal tender method. In my view, bitcoin and cryptocurrencies only contribute to the individual economy, but in terms of macro influence like the national or world economy, it has no impact. Look at the market capitalization, it's only a tenth of the gold market and nothing compared to the stock market. So to say it is impacting the world economy is not entirely accurate.
In the future, when it gets more attention, more recognition, perhaps it will have a significant impact on the world economy. Currently, it doesn't really have any impact.

[davis196]

There have been a gazillion forum threads about "Effect of crypto and Bitcoin on the economy."
Why do you have to create another one, if you don't have anything new to add to the conversation?
This is just a generic article with a bunch of images. We already know about the benefits of crypto for saving/investing(being your own bank) and the all the jobs created by the crypto industry. Did you write this forum thread to boost your post count?

Bitcoin or crypto is growing industry and it does have effect on multiple things including the economy and don't forget that the first legal country El savador is one of the proof in economy and dozen of merchant that accept Bitcoin.

Transfer with low fees and doesn't have border is always be good economy benefit in my opinion

El Salvador is a proof that mass crypto/Bitcoin adoption could actually fail, if the people aren't educated well enough.

[Smack That Ace]

Bitcoin or crypto is growing industry and it does have effect on multiple things including the economy and don't forget that the first legal country El savador is one of the proof in economy and dozen of merchant that accept Bitcoin.

Transfer with low fees and doesn't have border is always be good economy benefit in my opinion

El Salvador is a proof that mass crypto/Bitcoin adoption could actually fail, if the people aren't educated well enough.

Although we can't say they failed, to be fair, we haven't seen any positive effects from El Salvador on mass bitcoin adoption. But in my opinion, it is still too early to draw any conclusions because the application of legal tender in El Salvador is less than 2 years. I think they need more time because the transition and adoption of something so new cannot happen in a short time, for a successful revolution takes a lot of time. I think we should wait until the next bull season to assess and have a final conclusion on bitcoin adoption in El Salvador.

[CageMabok]

A cryptocurrency become popular in many countries in the past years, one of the reason is the spike of the market price of Bitcoin which become a trend. There are a lot of people that wanted to invest on it because of the profit on cryptocurrency especially on Bitcoin where a lot of people believed. There are also cryptocurrency that become popular like Ethereum, Dogecoin, XRP etc. But what is the effects of cryptocurrency on the Economy?

About the effect of cryptocurrencies on the economy, you have actually mentioned it in your explanation on this topic. Because one of the most striking effects is being able to create jobs for some people who like cryptocurrencies and like to work part-time without pressure and plus those who don't have a job at all in their life so that they are forced to learn about cryptocurrencies in order to can earn income and save and at the same time invest as you explain it.

The cryptocurrency like Bitcoin gives us investment opportunity, With the spread and trend of cryptocurrency, many of us have invested in it because it can potentially provide us with high profits, even though it comes with significant risks. Having this opportunity has allowed many of us to earn, and as a result, our capacity to establish businesses that can contribute to the country's economic growth has grown.

This is also a very common effect that can be felt and seen by many people on cryptocurrency and Bitcoin although everyone also needs to understand the risks, but it is true that with the existence of cryptocurrency and Bitcoin some people have created new businesses in their lives to make their lives more developed . This is what triggers cryptocurrencies and Bitcoin to become famous all over the world faster because it can really help everyone's economy if they are able to work patiently and never complain about changing conditions.

[Gallar]

A cryptocurrency become popular in many countries in the past years, one of the reason is the spike of the market price of Bitcoin which become a trend. There are a lot of people that wanted to invest on it because of the profit on cryptocurrency especially on Bitcoin where a lot of people believed. There are also cryptocurrency that become popular like Ethereum, Dogecoin, XRP etc. But what is the effects of cryptocurrency on the Economy?
~

It's true, the main factor that makes crypto a popular asset, is due to the price spike that has occurred in bitcoin. Because of this incident, many other cryptos or altcoins have emerged, and made crypto an asset to be reckoned with, especially bitcoin. With the presence of crypto digital assets, it is indeed a good opportunity for many people to start investing. Because one of the advantages of investing in crypto assets is that it's easy to register, you can use small capital, and in essence many people can invest in crypto from various backgrounds and it's simpler to run.

With all these factors, it will automatically have an impact on the economic growth of many people. It can be said that crypto assets are currently a fairly promising alternative way to make money. Even though crypto assets have many advantages, it's always good to be careful when investing. Because the name of risk is definitely there, in any business it is also included in crypto assets.

And the conclusion that I can draw from the existence of these crypto assets is that crypto assets can make many people aware of the importance of investing.
and in terms of the economy, if taken from the positive side, in essence it is clear, after the existence of this crypto asset, many people have been helped financially, and it has become a promising source of income. But if you look at it from the negative side, there are also quite a few people who have suffered huge losses due to crypto, and most of this is due to fraud, and they have not been able to analyze the market properly. So in essence, crypto assets also have their good points and bad points. But all of that can be minimized by continuing to learn about the science of investing in crypto.

[Ayers]

You are on point Op when you identified that Bitcoin and the crypto industry have created employment opportunities for many people in some countries. Many people have also used the sector as a side job to complement their income. Bitcoin is one of the fastest and safest sectors to invest in. Investing in some sectors requires some cumbersome bureaucratic process that makes it time-consuming. But all you need is just a wallet to buy and hold your investment. Many banks are failing making their shareholders lose their funds but over the years the bitcoin sector has been consistent.

In some countries, bank transactions are not reliable. But Bitcoin is competing with these banks and many people are seeing the sector as a good alternative to fiat banking.

Saving is a habit that is cultivated, so I don't think only the Bitcoin sector is helping people to save. If you don't have the drive to save, you will never be able to set funds aside for future investment.

I agree with most of what you said, except for this part. The banking crisis in the US is not over yet, it is spreading wide, and many shareholders are losing money. But when it comes to bitcoin, this makes no difference, I mean, there will be winners and losers. Not everyone wins by investing in bitcoin. Last year's bear market also caused thousands of investors to lose money and dumped bitcoin.

Bitcoin is a financial market like any other, money from the loser's hand to the winner's hand. If you buy low and sell high to take profits, that means someone is losing money instead of you.

[hugeblack]

Because of crypto a lot of people become familiar at knowledgeable when it comes to Saving .

I do not know, but with a quick look at what is happening in the forum, and although earning from signature campaigns cross good amounts in some countries, once a week has passed, you will know that many people have become more dependent on profits from cryptocurrencies, and therefore such people will not survive in savings.

Financial experience comes from learning and experience and through financial knowledge, and therefore even if you invest in those currencies unless you have a good financial background, investing in Bitcoin will be nothing more than extra profits that you will spend on buying more luxury.

[Bitstar_coin]

In a way - Yes. If you are making money from crypto or btc and you inject 20% of that profit back into the economy by paying bills you have somehow impact the economy somehow. Economy of any country needs funds to function and if people injecting their profit to different aspect of the economy it will definitely have a positive effects in the growth.

[rat03gopoh]

Many banks are failing making their shareholders lose their funds but over the years the bitcoin sector has been consistent.

Iirc, there were years where bitcoin was not profitable. So when it comes to investing, all tradable assets have almost the same risk considering that the risk in question is both about market fluctuations, achieving consistency or not only depending on what kind of economic situation you enter and exit.

[Dickiy]

OP mentioned decent points regards impacts of cryptocurrency on the economy. Thanks to crypto and Bitcoin in special, average citizens from every corners of the world have access to investments and jobs' opportunities not available before. The impact on the society is that there is a higher flux of money circulating, which benefits every sectors of the society, since money is constantly moving, like the waters of a river.

Maybe what I said isn't seen is large scale yet by most people, but they do exist, and those individuals involved on these economical chains are really satisfied and proud for having found Bitcoin on their lives.

As example of those economical chains benefited by Bitcoin and crypto, we can mention investors who are in profit with their BTC investments and digital workers, like Bitcointalk's members who are engaged to signature campaigns.

I agree that crypto or bitcoin provides widespread job opportunities so that some people who are able to understand mechanisms and systems or have knowledge can benefit, but don't forget that the big risk of fraud as before is still possible and even attacks the economy.
It's always been a concern why we haven't been able to see it on a large scale, because the adoption of bitcoin or crypto currency is still minimal from the total human population in this world, I think that is natural because Bitcoin and crypto themselves don't have a longer age so their existence is not the same as FIAT which has a lifespan of more than one hundred years. some of their older generations will be very tiring if they study bitcoin or crypto, they are more likely to believe in banking as an alternative service that they want in conducting economic transactions.

If we are aware of bitcoin, of course we will always say that bitcoin does help financially and accelerates the circulation of money in the economy, one of which is an investment alternative, if someone who has minimal knowledge and bad psychology will definitely be in trouble if they touch bitcoin or crypto and maybe will have a negative impact on someone's economy that has been built, meaning that to improve the economy by entering themselves into the world of bitcoin or crypto, they must get important education such as fundamentalist mental maturity and attitudes in investing in the world of crypto currency.
People who enter this Forum are indeed lucky people, because they benefit from bitcoin so they can earn income without investing.

[Silberman]

In a way - Yes. If you are making money from crypto or btc and you inject 20% of that profit back into the economy by paying bills you have somehow impact the economy somehow. Economy of any country needs funds to function and if people injecting their profit to different aspect of the economy it will definitely have a positive effects in the growth.

Every single one of us has an effect on the economy, it is just that our effect is so small that such an effect is imperceptible for us, but when you add the effect of several users of cryptocurrencies then this effect becomes way more noticeable, and as time passes and more people adopt cryptocurrencies and begin to use them on their everyday lives the greater this effect will become, and the more difficult it will be for big businesses to ignore us and they will have to begin to accept cryptocurrencies as a form of payment in order to cater to us.

[Gyfts]

I continue to stand and defend my personal point of view that the impact of Bitcoin is highly dependent on the context of each nation.
Argentina, Venezuela and Nigerian are examples of countries where Bitcoin and other altcoins have increased in adoption and volume, because the traditional banking and financial instruments have failed or are very weak in the pursue to provide to their people with reliable means of managing money and secure value.

This is the correct analysis. Economies are too diverse for anyone to make broad generalizations as to how Bitcoin woulda actually affect a countries economy. Take the larger economies and Bitcoin doesn't even make a small fraction dent into the GDP.

I'm not minimizing crypto currencies impact -- it seems a few people get lost on the scale of the global economy and don't realize how small the crypto space actually is. That's today, of course. Some decades down the line the landscape looks very different.

[bitgolden]

Because of crypto a lot of people become familiar at knowledgeable when it comes to Saving .

I do not know, but with a quick look at what is happening in the forum, and although earning from signature campaigns cross good amounts in some countries, once a week has passed, you will know that many people have become more dependent on profits from cryptocurrencies, and therefore such people will not survive in savings.

Financial experience comes from learning and experience and through financial knowledge, and therefore even if you invest in those currencies unless you have a good financial background, investing in Bitcoin will be nothing more than extra profits that you will spend on buying more luxury.

I think it could become possible if they could put some aside and make money from it. I have a lot of friends from back in the day who invested into bitcoin from their savings, and used a bunch of other altcoins to invest and they did alright, they all invested carefully but sometimes made some crazy bets on some alts, and they all did alright. That means there is a potential that bitcoin could get you to a higher level, mainly crypto but bitcoin too, depends on when you bought it.

I believe that people should be saving carefully, depending on income doesn't matter, as long as you save some of it, and invest at the right place, when the bull comes, you will have a good profit. Not many do that unfortunately but the ones who do it end up with a profit without a doubt.

[dansus021]

Although we can't say they failed, to be fair, we haven't seen any positive effects from El Salvador on mass bitcoin adoption. But in my opinion, it is still too early to draw any conclusions because the application of legal tender in El Salvador is less than 2 years. I think they need more time because the transition and adoption of something so new cannot happen in a short time, for a successful revolution takes a lot of time. I think we should wait until the next bull season to assess and have a final conclusion on bitcoin adoption in El Salvador.

Agree with you it is still very early and need time to make the mass adoption work in the other hand Elsavador joined Crypto world on end 2021 and we all know that 2022 is bear year so we cant blame if there is problem there.

[Darker45]

Economy could be referring to the state or the individuals. There are rich countries where poverty is high. There are not so rich countries where poverty incidence is low.

Bitcoin helps individuals when the state fails. Due to a lot of factors, a country's economy could fall-- mismanagement, corruption, sanctions, war, and so on. When inflation goes uncontrollably high, for example, Bitcoin protects the purchasing value of people's money. Bitcoin also serves as a solution to the problem of bank closures during wars and chaos, when people can't withdraw their own money. In times like this, Bitcoin provides people continuous access to their money so that they always have the capacity to buy their needs.

[Andrija Branislav]

Bitcoin or crypto is growing industry and it does have effect on multiple things including the economy and don't forget that the first legal country El savador is one of the proof in economy and dozen of merchant that accept Bitcoin.

Regarding your statements about the effect of cryptocurrencies and Bitcoin on the economy, it is true that the adoption and growth of cryptocurrencies have caused changes in the global economic landscape. The decentralized nature of cryptocurrencies and their ability to facilitate seamless, low-cost transactions have opened up new opportunities for businesses and individuals to participate in the global economy and if we see the recent move by El Salvador to recognize Bitcoin as legal tender was an important milestone for the adoption of cryptocurrencies in the mainstream economy as well  the impact on other countries' attitudes towards cryptocurrencies.

Transfer with low fees and doesn't have border is always be good economy benefit in my opinion

Of course. Another aspect to consider is the potential for increasing financial inclusion through the use of cryptocurrencies. Traditional banking systems may not be accessible to people in certain parts of the world, especially those who are unbanked or underbanked. Cryptocurrencies offer an alternative means of conducting financial transactions that can be accessed by anyone with an internet connection, potentially bringing more people into the global economy.

At least with the use of blockchain technology in cryptocurrencies can provide greater transparency and security in financial transactions, which can reduce the potential for fraud and corruption in the financial system.

[irhact]

Nice thread despite that you only focus on the positive effects while negative effects can also not be overlooked. Crypto is really playing a vital role in today's world economy particularly in my own country. It's sad that majority of our youths engage in one crime or the other such as internet fraud popularly known as yahoo.

Crime will exit with or without the invention of Bitcoin therefore Bitcoin has no responsibility for the crimes been committed making use of the coin. While some people would say the popularity of Bitcoin has increased crimes that involved cryptocurency like hacking of wallets and exchanges or requesting for ransom to be paid in Bitcoin, Bitcoin has also helped the youth pick interest in investing.

And what this does is, it prepares them for a future of been a successful investors since they started young and would had gain lots of experience. The more an economy has individuals that are interested in finances then the economy is on the right path as the youths will develop the economy in the future.

[gunhell16]

In a way - Yes. If you are making money from crypto or btc and you inject 20% of that profit back into the economy by paying bills you have somehow impact the economy somehow. Economy of any country needs funds to function and if people injecting their profit to different aspect of the economy it will definitely have a positive effects in the growth.

Every single one of us has an effect on the economy, it is just that our effect is so small that such an effect is imperceptible for us, but when you add the effect of several users of cryptocurrencies then this effect becomes way more noticeable, and as time passes and more people adopt cryptocurrencies and begin to use them on their everyday lives the greater this effect will become, and the more difficult it will be for big businesses to ignore us and they will have to begin to accept cryptocurrencies as a form of payment in order to cater to us.

It's true and I agree with what you said. The time will come when whether they want it or not, the noise of Bitcoin or cryptocurrency will really reach different parts of the country around the world and this is already happening.

It has spread all over the world how bitcoin has contributed to every country that has accepted and recognized it in the digital world of currency which is none other than Bitcoin. Previously unrecognized, it is now recognized and accepted in other countries as legal tender as a currency.

[lixer]

I continue to stand and defend my personal point of view that the impact of Bitcoin is highly dependent on the context of each nation.
Argentina, Venezuela and Nigerian are examples of countries where Bitcoin and other altcoins have increased in adoption and volume, because the traditional banking and financial instruments have failed or are very weak in the pursue to provide to their people with reliable means of managing money and secure value.

The impact in countries with strong and stable economies are not so obvious, people there still have or think to have reliable banks, centralized wallets and currencies.

Bitcoin in the end, besides being a decentralized currency is also a safeguard against reckless governance, which Venezuela, Argentina and Nigeria have in common.

I totally agree with that, people that treated well by one entity would never want to have any changes unless they start feeling that they are not being treated well or are facing issues. For nations that have strong financial institutions and currencies, their people tend to like the traditional modes of using and managing their finances and wouldn't look for alternatives.

While a country that lacks the basic capabilities to provide its citizens with active and strong financial tools and management services will surely face a revolution like Bitcoin taking over since people will look for alternatives and a change in the traditional systems that are not fully providing.

[Z390]

I don't see anything helping people reshaping lives more than Bitcoin and crypto right now and oy those who lacks knowledge got wrecked, the good side of crypto is the chances of making your wrongs into right, I mean if you lose money simply because of a mistake or your own stupidity you can still correct things and make all you have lost back, this is very good unlike other ways of making money that once your money is gone it's never coming back, crypto is full of endless opportunities.

[maydna]

I don't see anything helping people reshaping lives more than Bitcoin and crypto right now and oy those who lacks knowledge got wrecked, the good side of crypto is the chances of making your wrongs into right, I mean if you lose money simply because of a mistake or your own stupidity you can still correct things and make all you have lost back, this is very good unlike other ways of making money that once your money is gone it's never coming back, crypto is full of endless opportunities.

Crypto can help those who want to try to earn money, and they can even start with a small capital. They really have to work hard to earn money to improve their lives because crypto provides an opportunity to make a lot of money. Only if they want to learn and try hard can they succeed while others still look for ways. We have to find a suitable way to make money, and by doing many things, we can do until finally, we can really make money.

[Ani1985]

The presence of bitcoin certainly has a good impact on the economy, at least there are many new job positions that reduce unemployment, the presence of bitcoin makes many new rich people so that they can create prosperity, it is time for the state to legalize bitcoin so that it can be more useful for many people and of course reduce poverty.

[BVeyron]

A cryptocurrency become popular in many countries in the past years, one of the reason is the spike of the market price of Bitcoin which become a trend. There are a lot of people that wanted to invest on it because of the profit on cryptocurrency especially on Bitcoin where a lot of people believed. There are also cryptocurrency that become popular like Ethereum, Dogecoin, XRP etc. But what is the effects of cryptocurrency on the Economy?

The cryptocurrency like Bitcoin gives us investment opportunity, With the spread and trend of cryptocurrency, many of us have invested in it because it can potentially provide us with high profits, even though it comes with significant risks. Having this opportunity has allowed many of us to earn, and as a result, our capacity to establish businesses that can contribute to the country's economic growth has grown.



In the cryptocurrency industry, only a few people have enough knowledge about it, and professionals with skills and knowledge in blockchain technology, programming, etc. are needed. The Cryptocurrency has created jobs in our country. Many crypto-related businesses have emerged in a lot of country, such as exchanges, which many investors use and surely hired professionals. If the spread of crypto continues to grow in a lot country, it can provide many more job opportunities.



Because of crypto a lot of people become familiar at knowledgeable when it comes to Saving . Crypto helps a lot of people, because a lot of people learn how to manage their financial, including the transitions of using traditional banks. A lot of use change our perspective when it comes centralized platforms like banks. That helps us invest for our future.



Cryptocurrency helps us a lot because of the fast and secure transactions, instead of using the traditional fiat currency. It helps a lot because we can make a fast transaction where ever we are using cryptocurrency.


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Epekto ng Crypto at Bitcoin sa Ekonomiya ng bansa

I suppose that, despite its beneficial effect on the investment opportunities, the main function of all the cryptocurrencies is the test of digital money systems. They are something like beta-versions of a full-scale blockchain-based digital money project. So the next step in cryptocurrency can be adoption of blockchain and decentralisation mechanisms in fiat banking systems. As for cryptocurrencies we already have, I suppose they are going to add a couple of dollars in price, but it most probably will be not the crypto price rise, but dollar price fall...

[ultrloa]

I don't see anything helping people reshaping lives more than Bitcoin and crypto right now and oy those who lacks knowledge got wrecked, the good side of crypto is the chances of making your wrongs into right, I mean if you lose money simply because of a mistake or your own stupidity you can still correct things and make all you have lost back, this is very good unlike other ways of making money that once your money is gone it's never coming back, crypto is full of endless opportunities.

Crypto can help those who want to try to earn money, and they can even start with a small capital. They really have to work hard to earn money to improve their lives because crypto provides an opportunity to make a lot of money. Only if they want to learn and try hard can they succeed while others still look for ways. We have to find a suitable way to make money, and by doing many things, we can do until finally, we can really make money.

This can give work to to people cannot get a job on their place there's wide opportunity given by the industry to all people who's using it. Also there's less discrimination here since anyone can work with the jobs as long as he is skilled and know how to work on the assigned project. This is the good side about this industry should be look after by government and not those negative things they can read online since if many of there people can bring huge income on their country for sure it can bring some good effects to their economy.

[Taskford]

I don't see anything helping people reshaping lives more than Bitcoin and crypto right now and oy those who lacks knowledge got wrecked, the good side of crypto is the chances of making your wrongs into right, I mean if you lose money simply because of a mistake or your own stupidity you can still correct things and make all you have lost back, this is very good unlike other ways of making money that once your money is gone it's never coming back, crypto is full of endless opportunities.

Crypto can help those who want to try to earn money, and they can even start with a small capital. They really have to work hard to earn money to improve their lives because crypto provides an opportunity to make a lot of money. Only if they want to learn and try hard can they succeed while others still look for ways. We have to find a suitable way to make money, and by doing many things, we can do until finally, we can really make money.

This can give work to to people cannot get a job on their place there's wide opportunity given by the industry to all people who's using it. Also there's less discrimination here since anyone can work with the jobs as long as he is skilled and know how to work on the assigned project. This is the good side about this industry should be look after by government and not those negative things they can read online since if many of there people can bring huge income on their country for sure it can bring some good effects to their economy.

For now yes this could give more better opportunity to certain people since it gives competitive salary than whT those third world countries to offer. If we talk about the economy maybe it can help in a little way since people using it is not yet paying their taxes. If government will implement a taxation maybe this could be a big help for them to acquire extra cash to help rise up their economy.

For people who want a work from home set up diving into crypto space is really good for them since there are thousands opportunity waiting for them if they bring up good portfolio for clients to see if they have experience.

[so98nn]

Good to read that you have not just spoken about how one can earn profits from Bitcoin but have explored "job" opportunities from the crypto, specifically from Bitcoin. Ever-growing bitcoin demand and other crypto coins associated with various projects have opened doors for various programmers. If someone is a highly skilled developer but companies aren't providing enough vacancies then the same person can use their talent on developing their own open source-based applications that can be utilized in the crypto space. One can have own roadmap of utility coins.

Many peeps do not agree with the thought that blockchain tech has opened up a new world of possibilities when it comes to job openings.

"Indeed" which specializes in job placements has made research on this and have stated that the share of crypto-related job has increased by 1,457% within just 4 years of the time period.

The data is surprisingly older and is around 2020, which means the current scale-up could go even further than this. This study itself proves how crypto is contributing to new talents.

The cryptocurrency gold rush has produced a lot of jobs, with the share of cryptocurrency jobs per million rising 1,457% over the past four years, according a study by job site Indeed.com.

Despite drastic price fluctuations (Bitcoin’s volatile value shot up more than 230% in the first six months of 2019 to above $12,000 per Bitcoin) and nearly half of companies citing regulatory uncertainty as a major barrier to blockchain adoption, employers continue to ride the wave and invest in blockchain tech and talent.

Mark Zuckerberg, for instance, wants to launch Facebook’s Libra, a new global cryptocurrency, in 2020. And digital payment giant Square recently assembled a crypto-focused team, Square Crypto, with the goal of strengthening the Bitcoin ecosystem. You will also soon even be able to spend Bitcoins at Starbucks through a new exchange app that converts digital assets into dollars.

Indeed analyzed millions of job postings on Indeed.com to unpack how Bitcoin, cryptocurrency, and blockchain trends have affected the job market.

Searches for Bitcoin, blockchain, and cryptocurrency roles are going down — yet employer demand has skyrocketed. According to Indeed, in the four-year period between September 2015 and September 2019, the share of these jobs per million grew by 1,457%. In that same time period, the share of searches per million increased by 469%.

In the past year, the share of cryptocurrency job postings per million on Indeed.com has increased by 26%, while the share of searches per million for jobs has decreased by 53%. Bitcoin’s volatility seems to correlate with job seeker interest, and the change in Bitcoin price this year might be why job searches have declined.

Top 5 crypto tech jobs
So employer demand for tech roles related to Bitcoin, blockchain, and cryptocurrency is high — but what are those jobs?

From coding smart contracts to designing user interfaces for cryptocurrency apps to building decentralized applications (dApps) that communicate with the blockchain, there’s no shortage of work to be done in the cryptocurrency field.

For a better chance at landing one of these roles, you should be a programmer. And you should familiarize yourself with basic cryptography, P2P networks, and a language like C++, Java, Python, or JavaScript (along with certain soft crypto skills).

Refer here

[famososMuertos]

The reality is that its main influence, far from having an impact on economies, saved El Salvador and some other country, there is no direct economic interference.

The impact of Bitcoin is to empower the ordinary citizen, the individual after that happens if they can have influence in certain economies but the path to that type of initial idea has lost its way.

Mainly due to the late adoption and distribution of having large amounts of bitcoin in few hands, the solution for that is the Satoshi, which is undoubtedly the solution of the present, that is why insignificant amounts today can in theory mean income in the equivalence to have a kilo of gold.

Let's make a point here, I'm not saying that bitcoin is equal to gold, etc.  In fact, it could have used another asset, diamonds, lithium, etc.

Now, in theory, if the Bitcoin history continues as it has been throughout these first years, everything indicates that time or the long term is an ally of bitcoin to increase its value.

Therefore, the conjecture is not only about knowing how much the price of bitcoin will be in a certain time, but also knowing its economic influence.

They are two aspects that do not necessarily have to be related, bitcoin could have a value of $1000,000 and it is fine for the price of bitcoin and its rudeness as an asset, but perhaps its influence on the individual economies of certain countries it does not influence anything , only in determining new billionaires.

Demand, wanting bitcoin, making it necessary globally would be the key to having influence in the financial economies of countries.

In fact, in my opinion, there is a mistaken belief in thinking that the price of bitcoin needs adoption to reach prices of 6 or even 7 figures, but the reality is that with the existing niche, only one thing is needed, demand.

If the demand exceeds the offer we will have a price on the graph 📈

And that influences the economies of the individuals who have bitcon, not the global or individual economies of a country, for now.

[Wildwest]

The positive effects of the crypto world for all countries have certainly been felt by many people, and currently the increase in investors who want to hold bitcoin is getting bigger and they are very sure bitcoin is a future asset that we can indeed rely on, so the crypto world will one day rule the world and fiat currencies will be increasingly threatened if they are not properly regulated by the government, And now many young people are getting deeper into the crypto world because they can't wait for new surprises that will happen in the future.

[Sayeds56]

Yes, the impact of cryptocurrency on cross-border transactions is definitely one of the key advantages of using Bitcoin and other cryptocurrencies. By eliminating the need for intermediaries such as banks, these transactions can be completed faster and more efficiently, with lower fees and fewer barriers.

Yes, that is correct. Bitcoin and other crypto currencies can potentially transform the cross-border transaction system, by offering  faster and low cost without the intervention of any third party, such as banks. The added advantage of using block chain technology is, its high level transparency, security  and traceability, thus eliminating the risk of fraudulent activities.

[flyingcarpet]

Yes, the impact of cryptocurrency on cross-border transactions is definitely one of the key advantages of using Bitcoin and other cryptocurrencies. By eliminating the need for intermediaries such as banks, these transactions can be completed faster and more efficiently, with lower fees and fewer barriers.

Yes, that is correct. Bitcoin and other crypto currencies can potentially transform the cross-border transaction system, by offering  faster and low cost without the intervention of any third party, such as banks. The added advantage of using block chain technology is, its high level transparency, security  and traceability, thus eliminating the risk of fraudulent activities.

It is a ridiculous rule that some banks do not allow money transfers outside of working hours. Bitcoin allows us to transfer around the clock. Even this situation shows that its contribution to the economy is great. It also contributes to the world economy in terms of transparency and traceability. At the same time, as you said, there is no interference with your money. Apart from these, there are many positive aspects in terms of their contribution to the economy. Such as transparency, accessibility, reliability.

[adzino]

Yeah those are basic points that everyone thinks when it come too crypto currency and economy, but I think it's important to keep in your mind that crypto, while it is very useful, won't have a huge impact on the overall global economy. It does provides an alternative payment method and enables faster transactions without any third parties being involved and slowing you down, but it's not really creating a lot of job opportunities or single-handedly saving the world economy. True making investment is a good thing for economy, but investing in crypto currencies is totally a different thing and not everyone is able to take that risks. The influence of crypto on the economy isn't as massive as some might think. It's not a magic solution for economic growth.

[cydrix]

There is no denying that Bitcoin and other cryptocurrencies have had a significant economic impact. We can start with the beginning of the pandemic and those who believed that owning Bitcoin had rescued them at that point because their jobs had been stopped at that point. They later used their holdings for it. Saving does equal holding, and owning bitcoin has taught us this. We were previously spenders and had no idea how crucial it is to conserve money, but once we started to own bitcoin, the community taught us that we should hold as well as they do.

[Silberman]

There is no denying that Bitcoin and other cryptocurrencies have had a significant economic impact. We can start with the beginning of the pandemic and those who believed that owning Bitcoin had rescued them at that point because their jobs had been stopped at that point. They later used their holdings for it. Saving does equal holding, and owning bitcoin has taught us this. We were previously spenders and had no idea how crucial it is to conserve money, but once we started to own bitcoin, the community taught us that we should hold as well as they do.

People are not entirely at fault over this, the culture and even the governments sponsor a culture of excess in which people have to continuously spend their money in order to show their worth, but what happens when people do not have that money? They need to indebt themselves in order to do this, so we have a culture which promotes reckless spending instead of prudent behavior and managing your finances responsibly, and in that kind of culture it is not surprising that the smallest inconvenience can force people to suffer a great economic setback.

[molsewid]

Yeah those are basic points that everyone thinks when it come too crypto currency and economy, but I think it's important to keep in your mind that crypto, while it is very useful, won't have a huge impact on the overall global economy. It does provides an alternative payment method and enables faster transactions without any third parties being involved and slowing you down, but it's not really creating a lot of job opportunities or single-handedly saving the world economy. True making investment is a good thing for economy, but investing in crypto currencies is totally a different thing and not everyone is able to take that risks. The influence of crypto on the economy isn't as massive as some might think. It's not a magic solution for economic growth.

Yes I agree, it will not create a massive effect to the economy but it can help an individual to grow his own business that can help the economy. Bitcoin and other crypto are not widely acceptable, there's still some countries that prohibits the use of bitcoin and some of them even creates an ads That people should be careful using crypto, maybe yes that's good they inform people but then every counties can maximize the use of cryptocurrency for economic growth.

[darkangel11]

Yeah those are basic points that everyone thinks when it come too crypto currency and economy, but I think it's important to keep in your mind that crypto, while it is very useful, won't have a huge impact on the overall global economy. It does provides an alternative payment method and enables faster transactions without any third parties being involved and slowing you down, but it's not really creating a lot of job opportunities or single-handedly saving the world economy. True making investment is a good thing for economy, but investing in crypto currencies is totally a different thing and not everyone is able to take that risks. The influence of crypto on the economy isn't as massive as some might think. It's not a magic solution for economic growth.

It can have an indirect impact by becoming a widely recognized store of value. Not all investments have to produce profit, some can protect yourself from loss and that's already enough.
IMO bitcoin isn't a huge risk at this point. We're 60% down from the top, which means bitcoin is largely discounted and moving close to the halving, which will make it harder to mine. If there's a large tax placed on mining, like they're proposing in the US, bitcoin itself will become more scarce as there will be less pressure from miners selling. It's much safer to hold bitcoin than money in the bank.

[AmoreJaz]

Yeah those are basic points that everyone thinks when it come too crypto currency and economy, but I think it's important to keep in your mind that crypto, while it is very useful, won't have a huge impact on the overall global economy. It does provides an alternative payment method and enables faster transactions without any third parties being involved and slowing you down, but it's not really creating a lot of job opportunities or single-handedly saving the world economy. True making investment is a good thing for economy, but investing in crypto currencies is totally a different thing and not everyone is able to take that risks. The influence of crypto on the economy isn't as massive as some might think. It's not a magic solution for economic growth.

It can have an indirect impact by becoming a widely recognized store of value. Not all investments have to produce profit, some can protect yourself from loss and that's already enough.
IMO bitcoin isn't a huge risk at this point. We're 60% down from the top, which means bitcoin is largely discounted and moving close to the halving, which will make it harder to mine. If there's a large tax placed on mining, like they're proposing in the US, bitcoin itself will become more scarce as there will be less pressure from miners selling. It's much safer to hold bitcoin than money in the bank.

miners and other long time holders may see the potential of holding this coin. but for now, we all know that a lot of newcomers in this market are interested with the short term profits. as of now, the impact of crypto in the economic side may not yet be big. but the adoption is growing. meaning the market is increasing. and this is why the government participation is starting to be visible as they are seeing that this market is unstoppable. people are talking, large companies are investing into this market. they can't ignore anymore about its existence. so to enlighten themselves in this new currency, they need to participate and educate themselves also not to be left behind by this technology.

[southerngentuk]

The adoption of Bitcoin as legal tender is a significant development in the crypto industry and could have a positive impact on the economy. With Bitcoin being recognized as a legal currency, it could help attract more investors and businesses. It also provides a low-cost way for people to transfer money and conduct transactions, which can benefit the economy by increasing the speed of money.
However, there are still quite a few concerns about the possibility of using Bitcoin for illegal activities such as money laundering. Hopefully, the government and regulators will always work on creating a regulatory framework for cryptocurrencies in the not too distant future.

[naikturun]

Cryptocurrencies can also offer a way to bypass traditional financial institutions and payment systems, which can be slow and expensive. This can be particularly beneficial for individuals and businesses in developing countries, where access to traditional financial services may be limited.

[crunck]

Hopefully, the government and regulators will always work on creating a regulatory framework for cryptocurrencies in the not too distant future.

Cryptocurrency regulation is bad for the market and ourselves, and that doesn't guarantee criminals won't use bitcoin. Remember that criminals predated bitcoin, so without bitcoin, criminals would use another form. Bitcoin and crime do not have any correlation at all.

[Silberman]

The adoption of Bitcoin as legal tender is a significant development in the crypto industry and could have a positive impact on the economy. With Bitcoin being recognized as a legal currency, it could help attract more investors and businesses. It also provides a low-cost way for people to transfer money and conduct transactions, which can benefit the economy by increasing the speed of money.
However, there are still quite a few concerns about the possibility of using Bitcoin for illegal activities such as money laundering. Hopefully, the government and regulators will always work on creating a regulatory framework for cryptocurrencies in the not too distant future.

Those concerns are wildly exaggerated by the governments, by far the most crimes of this nature are committed with fiat currencies, and this is not just a matter of magnitude, as it is to be expected that fiat currencies will have more criminals using them as fiat is more popular right now, fiat also has more crime of this type even when considering its higher adoption, so it is clear that what governments are after is to find a way to control this market and not to arrest the criminals that use cryptocurrencies.

[axxo]

The emergence of cryptocurrencies, particularly bitcoin, has had impact on the global economy. One of the most notable effects is the decentralization of financial transactions, which has reduced the need for intermediaries such as banks and government. This has led to increased financial freedom and reduced transaction costs for individuals and businesses. Another effect of cryptocurrencies is their potential to disrupt traditional financial systems. Bitcoin, for example has been seen as a potential alternative to fiat currencies, which are subject to inflation and government control. This has led to increased interest from investors and traders which has in turn driven up the value of cryptocurrencies.

[kaseygriffin]

It is very important to design and implement crypto regulations thoughtfully, ensuring that they do not unduly restrict the evolution of the technology and compromise the principle of openness and decentralization of crypto, crypto regulations cannot completely prevent criminals from using cryptocurrencies like Bitcoin. Criminals used other forms of cash finance and other traditional financial systems before the advent of crypto. Crypto can be used to create financial transactions of unknown origin and hide large amounts of money.
Crypto regulations can help prevent money laundering and illegal financial activity by requiring crypto exchanges to maintain KYC rules and coordinate with anti-money laundering agencies in detecting and preventing suspicious activity. Careful regulation and oversight can help prevent fraudulent activities, market manipulation, and crypto value inflation. This can ensure the stability and reliability of the cryptocurrency market, attracting sustained participation and investment.

[chrisculanag]

It is very important to design and implement crypto regulations thoughtfully, ensuring that they do not unduly restrict the evolution of the technology and compromise the principle of openness and decentralization of crypto, crypto regulations cannot completely prevent criminals from using cryptocurrencies like Bitcoin. Criminals used other forms of cash finance and other traditional financial systems before the advent of crypto. Crypto can be used to create financial transactions of unknown origin and hide large amounts of money.
Crypto regulations can help prevent money laundering and illegal financial activity by requiring crypto exchanges to maintain KYC rules and coordinate with anti-money laundering agencies in detecting and preventing suspicious activity. Careful regulation and oversight can help prevent fraudulent activities, market manipulation, and crypto value inflation. This can ensure the stability and reliability of the cryptocurrency market, attracting sustained participation and investment.

If those regulations are implemented early, the spread of its good effects on the economy will be faster. I agree that the cryprocurrencies market will be made better and safer by implementing KYC on every exchange. You are also right that due to the lack of such a law criminals are able to get into it because they are able to hide their identity. I hope they tighten up on these things so that we can enjoy the clean and good movement of every markets.

[Unbunplease]

It is very important to design and implement crypto regulations thoughtfully, ensuring that they do not unduly restrict the evolution of the technology and compromise the principle of openness and decentralization of crypto, crypto regulations cannot completely prevent criminals from using cryptocurrencies like Bitcoin. Criminals used other forms of cash finance and other traditional financial systems before the advent of crypto. Crypto can be used to create financial transactions of unknown origin and hide large amounts of money.
Crypto regulations can help prevent money laundering and illegal financial activity by requiring crypto exchanges to maintain KYC rules and coordinate with anti-money laundering agencies in detecting and preventing suspicious activity. Careful regulation and oversight can help prevent fraudulent activities, market manipulation, and crypto value inflation. This can ensure the stability and reliability of the cryptocurrency market, attracting sustained participation and investment.

However, in my opinion, criminals are more interested in using cash. Cryptocurrencies are characterized by the fact that they run on a blockchain. And, as you know, on a blockchain you can track all transactions, even if the transactions are mixed. Therefore, saying that cryptocurrencies are used by criminal structures and therefore they should be banned are words that should not be heeded

[Furious 7]

It is very important to design and implement crypto regulations thoughtfully, ensuring that they do not unduly restrict the evolution of the technology and compromise the principle of openness and decentralization of crypto, crypto regulations cannot completely prevent criminals from using cryptocurrencies like Bitcoin. Criminals used other forms of cash finance and other traditional financial systems before the advent of crypto. Crypto can be used to create financial transactions of unknown origin and hide large amounts of money.
Crypto regulations can help prevent money laundering and illegal financial activity by requiring crypto exchanges to maintain KYC rules and coordinate with anti-money laundering agencies in detecting and preventing suspicious activity. Careful regulation and oversight can help prevent fraudulent activities, market manipulation, and crypto value inflation. This can ensure the stability and reliability of the cryptocurrency market, attracting sustained participation and investment.

However, in my opinion, criminals are more interested in using cash. Cryptocurrencies are characterized by the fact that they run on a blockchain. And, as you know, on a blockchain you can track all transactions, even if the transactions are mixed. Therefore, saying that cryptocurrencies are used by criminal structures and therefore they should be banned are words that should not be heeded

Come on, it's just an exaggerated story.
In this case, I do not deny that there is a crime that originates from fraud or allows robbery by coercion of wallet seizures and hacks, but this is only a small part of the majority of existing crimes.
This is just one way to weaken and of course what is being targeted in this case is bitcoin which is indeed the most difficult to stop its movements. but of course we also can't make conditions better because crime is always there wherever and whenever there is an opportunity. but what must be considered in this case is not about bitcoin or its blockchain because indeed this thing bitcoin and blockchain are only objects that they target does not mean that it is a bad thing that exists because it is irresponsible people who make this bad.

[kaseygriffin]

It is very important to design and implement crypto regulations thoughtfully, ensuring that they do not unduly restrict the evolution of the technology and compromise the principle of openness and decentralization of crypto, crypto regulations cannot completely prevent criminals from using cryptocurrencies like Bitcoin. Criminals used other forms of cash finance and other traditional financial systems before the advent of crypto. Crypto can be used to create financial transactions of unknown origin and hide large amounts of money.
Crypto regulations can help prevent money laundering and illegal financial activity by requiring crypto exchanges to maintain KYC rules and coordinate with anti-money laundering agencies in detecting and preventing suspicious activity. Careful regulation and oversight can help prevent fraudulent activities, market manipulation, and crypto value inflation. This can ensure the stability and reliability of the cryptocurrency market, attracting sustained participation and investment.

However, in my opinion, criminals are more interested in using cash. Cryptocurrencies are characterized by the fact that they run on a blockchain. And, as you know, on a blockchain you can track all transactions, even if the transactions are mixed. Therefore, saying that cryptocurrencies are used by criminal structures and therefore they should be banned are words that should not be heeded

Come on, it's just an exaggerated story.
In this case, I do not deny that there is a crime that originates from fraud or allows robbery by coercion of wallet seizures and hacks, but this is only a small part of the majority of existing crimes.
This is just one way to weaken and of course what is being targeted in this case is bitcoin which is indeed the most difficult to stop its movements. but of course we also can't make conditions better because crime is always there wherever and whenever there is an opportunity. but what must be considered in this case is not about bitcoin or its blockchain because indeed this thing bitcoin and blockchain are only objects that they target does not mean that it is a bad thing that exists because it is irresponsible people who make this bad.

I tried and pondered and each person's opinion on how they feel about bitcoin, see what they actually know and hear about it (the story of outsiders who didn't enter and learn this market) Obviously we see a lot of misinformation about bitcoin, once we learn and re-evaluate everything, the real root of the problem is our own inference with what we are doing. know in life.
Those who know and understand it, can point out different sides of the benefits or other negative issues, but as I mentioned it is we who are assessing its nature in terms of its nature. Look, in terms of spreading knowledge about bitcoin I also need to popularize our usage behavior.

[kryptqnick]

However, in my opinion, criminals are more interested in using cash. Cryptocurrencies are characterized by the fact that they run on a blockchain. And, as you know, on a blockchain you can track all transactions, even if the transactions are mixed. Therefore, saying that cryptocurrencies are used by criminal structures and therefore they should be banned are words that should not be heeded

Cash is more anonymous, I agree with that. But cash is also physical, which means one needs to go somewhere with it, leave it there for someone to pick up or meet up for that. And then you can't do much to legalize it because you can't just bring tons of money to a bank without any explanations, and you often need money in a bank account to pay for important things. Cryptos are digital, which means there's no need to physically go anywhere, and there are exchanges to get fiat or some places where you can spend major cryptos directly.
I don't think cryptos can be reasonably blamed for the existence of illicit financial activities, but cryptos do have some advantages over cash.

[woez]

Cryptocurrencies can also offer a way to bypass traditional financial institutions and payment systems, which can be slow and expensive. This can be particularly beneficial for individuals and businesses in developing countries, where access to traditional financial services may be limited.

That's the thing, if people all know maybe this will be a strong impetus for this adoption to be developed. Now, if you look at developments, there are always a few pressing crypto issues, as if this is something that is seen as bad, even though there are many new things that not everyone knows about. maybe it's not time yet.

[Asuspawer09]

It is very important to design and implement crypto regulations thoughtfully, ensuring that they do not unduly restrict the evolution of the technology and compromise the principle of openness and decentralization of crypto, crypto regulations cannot completely prevent criminals from using cryptocurrencies like Bitcoin. Criminals used other forms of cash finance and other traditional financial systems before the advent of crypto. Crypto can be used to create financial transactions of unknown origin and hide large amounts of money.
Crypto regulations can help prevent money laundering and illegal financial activity by requiring crypto exchanges to maintain KYC rules and coordinate with anti-money laundering agencies in detecting and preventing suspicious activity. Careful regulation and oversight can help prevent fraudulent activities, market manipulation, and crypto value inflation. This can ensure the stability and reliability of the cryptocurrency market, attracting sustained participation and investment.

However, in my opinion, criminals are more interested in using cash. Cryptocurrencies are characterized by the fact that they run on a blockchain. And, as you know, on a blockchain you can track all transactions, even if the transactions are mixed. Therefore, saying that cryptocurrencies are used by criminal structures and therefore they should be banned are words that should not be heeded

Come on, it's just an exaggerated story.
In this case, I do not deny that there is a crime that originates from fraud or allows robbery by coercion of wallet seizures and hacks, but this is only a small part of the majority of existing crimes.
This is just one way to weaken and of course what is being targeted in this case is bitcoin which is indeed the most difficult to stop its movements. but of course we also can't make conditions better because crime is always there wherever and whenever there is an opportunity. but what must be considered in this case is not about bitcoin or its blockchain because indeed this thing bitcoin and blockchain are only objects that they target does not mean that it is a bad thing that exists because it is irresponsible people who make this bad.

Agree with that, I mean bitcoin was just some kind of tool that is used in some illegal transactions and that doesnt mean that Bitcoin is a bad thing that is illegal to use something like that. Criminals are just taking advantage of what Bitcoin can do but most of the time you don't really need to worry about this kind of thing, I mean I've been buying and selling Bitcoin for years and didn't really encounter problems that are related to these illegal transactions. I heard some cases where on centralized platforms where they encounter some problem because the banks or platform have issues where your Bitcoin or funds came from, but not to the point where they confiscated or freeze your account and you cannot get your funds anymore. If you didn't really do anything illegal at all you don't need to worry about these things.

I guess we can't really prevent this kind of thing I mean fiat money is used in illegal transactions as well, it was just the nature of Bitcoin for sure when it comes to regulation there will be a lot of complications since Bitcoin in my opinion was not supposed to be regulated because its a decentralized.