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

[CryptoBuds]

As we can see other countries are already doing it and others are only partially making bitcoins as one of their choices of investment in their countries. Nevertheless, their results was pretty good because non of those countries are experiencing economic falls after they make bitcoins as choices for their people to invest their money with.

So true. No country has fallen economically after adopting bitcoin either as a commodity asset or as a security asset. And in fact El Salvador seems to be enjoying some advantages in the tourism sector after they adopted bitcoin as legal tender in their country. So actually every country that is open with bitcoin and allows its citizens to invest in bitcoin will make the country have more income from the taxes that are collected by the country from the transactions of its citizens on the exchange. Well in my country in Indonesia have done it. And all went well. The government gets additional revenue from crypto taxes and citizens also feel happy because they are free to invest in crypto as a commodity asset.

I agree with what you said, the benefit of bitcoin to the government or its impact on the economy is tax. They accept bitcoin and popularize it among the people, through which the government will have a significant additional tax source for the country's construction budget. But many people say that if governments accept bitcoin and invest in it for profit to help reduce inflation for the country is myth and crap. Bitcoin is an extremely volatile asset, if the government invests in it and puts the future of the country in it will cause the economy to collapse faster.

[1715539681]

1715539681

[1715539681]

1715539681

[jaberwock]

As we can see other countries are already doing it and others are only partially making bitcoins as one of their choices of investment in their countries. Nevertheless, their results was pretty good because non of those countries are experiencing economic falls after they make bitcoins as choices for their people to invest their money with.

So true. No country has fallen economically after adopting bitcoin either as a commodity asset or as a security asset. And in fact El Salvador seems to be enjoying some advantages in the tourism sector after they adopted bitcoin as legal tender in their country. So actually every country that is open with bitcoin and allows its citizens to invest in bitcoin will make the country have more income from the taxes that are collected by the country from the transactions of its citizens on the exchange. Well in my country in Indonesia have done it. And all went well. The government gets additional revenue from crypto taxes and citizens also feel happy because they are free to invest in crypto as a commodity asset.

They will continue to grow, they got in at the wrong time and I bet that we are going to see them do a lot better in the near future as well. The best thing to do right now would be making sure that it is going to be decent on the long run.

We are not going to see it change anytime soon, but they will definitely do better when the price goes up. Obviously the trouble with this is that the elections are there, they do not have a king or a dictator, which means that if you buy at the wrong time, and it doesn't go up until the elections, that's a trouble for the sitting president. In any case, the extra added tourism income should be good, it helps the whole community grow bigger and if they can attract some companies, that would be even better.

[peter0425]

It's possible and  beyond its economic implications, the adoption of bitcoin also holds the potential to foster international cooperation and collaboration.

 As countries navigate the complexities of cryptocurrency, exchanging knowledge and best practices can lead to shared growth and progress.

everything that shows interest will always be in a growing progress
because this shows how extending their hands in cooperating to be part of this innovative living
bitcoin will always help countries ti build their economy in different ways.

[Sebas.tian]

Yes, country can invest in Bitcoin to build their economy which we have seen in some countries like El Salvador who has developed their country with the help of Bitcoin investment. There are many countries today created a good atmosphere for their citizens to acquire the knowledge of Bitcoin so that they will not depend on one job alone in their countries than to take a risk to invest in Bitcoin and have something special to earn in the future, which is the best thing any government that care for their citizens can do to adopt Bitcoin for the sake of their youths. Based on what other countries saw during the pandemic that reduced many countries economy but those countries that adopted Bitcoin in their countries didn't experienced much collapse in their economy.

[Strongkored]

Yes, country can invest in Bitcoin to build their economy which we have seen in some countries like El Salvador who has developed their country with the help of Bitcoin investment. There are many countries today created a good atmosphere for their citizens to acquire the knowledge of Bitcoin so that they will not depend on one job alone in their countries than to take a risk to invest in Bitcoin and have something special to earn in the future, which is the best thing any government that care for their citizens can do to adopt Bitcoin for the sake of their youths. Based on what other countries saw during the pandemic that reduced many countries economy but those countries that adopted Bitcoin in their countries didn't experienced much collapse in their economy.

I do not know which countries have adopted Bitcoin and their economies have not experienced much collapse during the pandemic, because Bitcoin is still very small in scale for the world economy, and until now Bitcoin can only help the economy individually, not in the form of countries, and is there a country that has a very large amount of Bitcoin? because Bitcoin has always been a rival to fiat so it makes governments don't like Bitcoin because they will prefer fiat over Bitcoin, and if there are countries that have Bitcoin on a large scale then they may now be experiencing concerns because the price is declining.
If you want to improve the economy individually then Bitcoin can be an alternative but only people who understand how to benefit from owning Bitcoins will benefit because not everyone understands how to get those benefits, because Bitcoin is an asset whose value is very volatile.

[Blitzboy]

Yes, country can invest in Bitcoin to build their economy which we have seen in some countries like El Salvador who has developed their country with the help of Bitcoin investment. There are many countries today created a good atmosphere for their citizens to acquire the knowledge of Bitcoin so that they will not depend on one job alone in their countries than to take a risk to invest in Bitcoin and have something special to earn in the future, which is the best thing any government that care for their citizens can do to adopt Bitcoin for the sake of their youths. Based on what other countries saw during the pandemic that reduced many countries economy but those countries that adopted Bitcoin in their countries didn't experienced much collapse in their economy.

I do not know which countries have adopted Bitcoin and their economies have not experienced much collapse during the pandemic, because Bitcoin is still very small in scale for the world economy, and until now Bitcoin can only help the economy individually, not in the form of countries, and is there a country that has a very large amount of Bitcoin? because Bitcoin has always been a rival to fiat so it makes governments don't like Bitcoin because they will prefer fiat over Bitcoin, and if there are countries that have Bitcoin on a large scale then they may now be experiencing concerns because the price is declining.
If you want to improve the economy individually then Bitcoin can be an alternative but only people who understand how to benefit from owning Bitcoins will benefit because not everyone understands how to get those benefits, because Bitcoin is an asset whose value is very volatile.

Even though Bitcoin isn't widely used across the country, that doesn't make its impact small. You're right; it's still in its early stages on the world stage, but that doesn't mean it can't grow. Countries like El Salvador have already made Bitcoin a legal form of currency, and guess what? They are making an example

Your idea that states hate Bitcoin because it competes with their money is too simple. Yes, Bitcoin is a competitor, but the real worry is that it is not controlled by a single group. It's the ultimate game of power, and governments just don't want to lose control

And what about the price of Bitcoin going down? Every object goes through good and bad times. Remember gold? What about real estate? A stock? Every market has ups and downs, and with risk comes profit. It is the height of snobbery to say that Bitcoin is only for people who understand it

[DrBeer]

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

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

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

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

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

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

Unfortunately this is a misconception. Bitcoin does not solve the economy's problems, and there are many reasons for that.
For starters, you need to understand how the classical economy of a country works.
Secondly, you need to understand how the monetary system of the state and the central bank works.
Thirdly, bitcoin itself has a lot of inconveniences and problems - and volatility is at the top of the list. Which is a manifestation of its purely speculative nature.
If we go back to the first two points, you should realize that an economy without emission of currency is actually impossible. Bitcoin has no additional issuance. It will also be a problem that will lead to very noticeable deflation when a country's GDP grows. And an "improving economy" is always accompanied by GDP growth. The quantity of goods/services grows over time, money turns into assets, new assets appear again... And the amount of "money" (if we talk about bitcoin) remains unchanged, or at least limited...
These are very superficial problems, but they are enough to realize that cryptocurrency, in its classical sense, cannot help the economy.

[Forever101]

From your point of view, bitcoins can not achieve such aim for a country with bad economy. The question that need to be asked is that, can the citizens take profit at thesame time, how about investors from other part of the world. Since bitcoins is unpredictable as it also respond to some changes, this step can also lead to the downfall of the country's economy. The best practice, is to adopt bitcoins without any form of financial liberation for a nation. Every nation must be built on good monetary policy to survive the heat of the time.

[anjiitem]

Yes, country can invest in Bitcoin to build their economy which we have seen in some countries like El Salvador who has developed their country with the help of Bitcoin investment. There are many countries today created a good atmosphere for their citizens to acquire the knowledge of Bitcoin so that they will not depend on one job alone in their countries than to take a risk to invest in Bitcoin and have something special to earn in the future, which is the best thing any government that care for their citizens can do to adopt Bitcoin for the sake of their youths. Based on what other countries saw during the pandemic that reduced many countries economy but those countries that adopted Bitcoin in their countries didn't experienced much collapse in their economy.

How and on what basis can you argue that countries that adopt Bitcoin will not experience much economic collapse?.
I don't know what you think and how you can think practically like that. but to overcome the problem of economic downturn in a country is not that easy just by investing or adopting Bitcoin.
If it's that easy to solve a country's economic problems, then right now we should have seen that every country in the world should have legalized and adopted Bitcoin, right? so that they can overcome the problem of a bad economy?.

[Hispo]

While I can agree that a country legalizing and using Bitcoin in a massive way could help to improve their financial situation in the long term, I personally believe that what makes a "piece of land" a country is it's own people and the culture of theirs.

There are cultures around the world which make emphasis on working hard, studying, honor, etc. The most obvious example would be Japan, where people work a lot for their own sake and the sake of their society, Germany would be another example, they are organized.

So it would not only take to adopt a specific currency or move to Bitcoin, a positive change in a country's economy takes to educate the population and switch their mindset in the incoming generation of workers.

[CryptoHeadlineNews]

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

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

Bitcoin was never invented as a builder of any country's bad economy from going into inflationo/recession, so don't expect that, but rather Bitcoin can save your funds from losing value, since its a currency whose value  likely to increase over long period of time, and as such, whoever invest in Bitcoin today is likely to reap a good sum as time goes on.

[Franctoshi]

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

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

Bitcoin was never invented as a builder of any country's bad economy from going into inflationo/recession, so don't expect that, but rather Bitcoin can save your funds from losing value, since its a currency whose value  likely to increase over long period of time, and as such, whoever invest in Bitcoin today is likely to reap a good sum as time goes on.

Bitcoin was born in 2009 towards the end of the great recession that started In 2007 and ended in 2009 to help solve the economic crisis experienced then due to money printing that resulted in a high inflation rate that destroyed various country's economy as at that time. Bitcoin from that time has become a hedge against inflation because you can't print as much as you way want.

[348Judah]

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

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

Bitcoin was never invented as a builder of any country's bad economy from going into inflationo/recession, so don't expect that, but rather Bitcoin can save your funds from losing value, since its a currency whose value  likely to increase over long period of time, and as such, whoever invest in Bitcoin today is likely to reap a good sum as time goes on.

Bitcoin was born in 2009 towards the end of the great recession that started In 2007 and ended in 2009 to help solve the economic crisis experienced then due to money printing that resulted in a high inflation rate that destroyed various country's economy as at that time. Bitcoin from that time has become a hedge against inflation because you can't print as much as you way want.

You both all have to come un concession on the major reason why bitcoin was created first, after knowing this, then you will realize about some other opportunities that may comes in through this bitcoin adoption for the people and government to have, bitcoin is a currency, but yet can be use as an asset, investment and exchange means, if through all these mentioned we have more attention on bitcoin for adoption, opportunities like developing a delapidated economy could set in, employment opportunities, financial independency, privacy, trust security and lots more that could ease the development of any country if bitcoin is adopted and permitted for use, these are different channels and dimensions through which we can have the importance of bitcoin being applicable for man use.

[Kaliandra]

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

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

Bitcoin was never invented as a builder of any country's bad economy from going into inflationo/recession, so don't expect that, but rather Bitcoin can save your funds from losing value, since its a currency whose value  likely to increase over long period of time, and as such, whoever invest in Bitcoin today is likely to reap a good sum as time goes on.

Bitcoin was born in 2009 towards the end of the great recession that started In 2007 and ended in 2009 to help solve the economic crisis experienced then due to money printing that resulted in a high inflation rate that destroyed various country's economy as at that time. Bitcoin from that time has become a hedge against inflation because you can't print as much as you way want.

You both all have to come un concession on the major reason why bitcoin was created first, after knowing this, then you will realize about some other opportunities that may comes in through this bitcoin adoption for the people and government to have, bitcoin is a currency, but yet can be use as an asset, investment and exchange means, if through all these mentioned we have more attention on bitcoin for adoption, opportunities like developing a delapidated economy could set in, employment opportunities, financial independency, privacy, trust security and lots more that could ease the development of any country if bitcoin is adopted and permitted for use, these are different channels and dimensions through which we can have the importance of bitcoin being applicable for man use.

yes, bitcoin has many benefits, especially for people who understand bitcoin and also know the risks of investing in btc, and I think if
people already know the knowledge about investing in bitcoin, it has great potential for profit and to be honest, I personally have felt the benefits of investing in btc, and my economy and my family are now getting better because my income has increased because of investing in btc and my family are all investing in btc , and I am lucky to live in my country where the government allows people to invest in btc, but the government of my country prohibits btc from being used as a means of payment.

[Blitzboy]

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

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

Bitcoin was never invented as a builder of any country's bad economy from going into inflationo/recession, so don't expect that, but rather Bitcoin can save your funds from losing value, since its a currency whose value  likely to increase over long period of time, and as such, whoever invest in Bitcoin today is likely to reap a good sum as time goes on.

Bitcoin was born in 2009 towards the end of the great recession that started In 2007 and ended in 2009 to help solve the economic crisis experienced then due to money printing that resulted in a high inflation rate that destroyed various country's economy as at that time. Bitcoin from that time has become a hedge against inflation because you can't print as much as you way want.

You both all have to come un concession on the major reason why bitcoin was created first, after knowing this, then you will realize about some other opportunities that may comes in through this bitcoin adoption for the people and government to have, bitcoin is a currency, but yet can be use as an asset, investment and exchange means, if through all these mentioned we have more attention on bitcoin for adoption, opportunities like developing a delapidated economy could set in, employment opportunities, financial independency, privacy, trust security and lots more that could ease the development of any country if bitcoin is adopted and permitted for use, these are different channels and dimensions through which we can have the importance of bitcoin being applicable for man use.

yes, bitcoin has many benefits, especially for people who understand bitcoin and also know the risks of investing in btc, and I think if
people already know the knowledge about investing in bitcoin, it has great potential for profit and to be honest, I personally have felt the benefits of investing in btc, and my economy and my family are now getting better because my income has increased because of investing in btc and my family are all investing in btc , and I am lucky to live in my country where the government allows people to invest in btc, but the government of my country prohibits btc from being used as a means of payment.

For those with the intelligence to understand Bitcoin, like you and I, it's a goldmine. The benefits are not just individual but ripple through society. Just look at your family, for example. Progressing economically due to the sheer might of BTC, while the naysayers just stand by, drowning in their ignorance. The fact that your government has the sense to allow Bitcoin investment is commendable. And as for them not allowing it as a payment method? A short-sighted move. They might as well try to stop the tide with a broomstick! The future of finance is crypto, and it's time the world woke up to that fact