Cryptocurrency impact on Economy

[WillyAp]

Crypto currency impact is huge but not in numbers.
Before crypto there were banks as the only place halfway reliable to store value.
Before crypto the smallest value storage was diamonds.

So now you can have a wallet but the people who need the skill to handle wallets have no entry level.
Illiteracy levels are high.

[Assface16678]

I think it has already been proven how impactful bitcoin is in society or around the world. Because of this, many people find a way to earn money based on their knowledge and skills. Also,  bitcoin is the proof that we are living in a cashless society, where we can do transactions that are secured and cannot be traced or interfered with by others. By using this technology, block chain technology, you can rest assured that no matter how much money you transact, it will be safe and delivered to the designated wallet address. and many more. We can't count how many things bitcoin produced or derived to help us. Bitcoin is the epitome of a decentralised currency that has more opportunity and growth.

I'm one of the people who believes that bitcoin helps a lot in terms of finances. Because of this, I learned to be financially independent for my parents, and in fact, I'm the one who sometimes supports them.

[Darker45]

You are talking of indirect impact of cryptocurrency to the economy. Indirectly, the rise of cryptocurrency has indeed contributed in providing employment as well as in addressing poverty. But employment and poverty aren't the center of the technology. Cryptocurrency is not designed to address the lack of jobs for people around the world. Neither is it created to address poverty.

While many have made money out of Bitcoin, Satoshi didn't create it with those who cannot eat 3 times a day in mind.

[Olatundespo]

I hope it definitely possible and impact for every economic society. is a positive money eventually it is invisible so what !
It is affecting all over the world. this is significant that many of the country of the world are processing to legal allotment Bitcoin.

Any country can be helpful in reducing inflation.
​
If it possible that time it will be releasing pressure in the dollar.

[Litzki1990]

The biggest obstacle for developing countries is unemployment in their countries. If maximum students are unemployed after getting enough education then that education is worthless. The higher the unemployment rate, the worse the economic condition of the country. If there is at least one worker from each family or if the government provides employment to one person from each family, the economic condition of the country will improve a lot. There is nothing sadder than being unemployed after obtaining the highest degree in the country.

There are many unemployed graduates who are involved in crypto currency and they may be earning good amount of money from this site but all unemployed people don't know about this site and even if they know but don't understand how to earn money from here. While many unemployed people from developing countries are making money from dealing with cryptocurrencies, there are many countries that have outright banned cryptocurrencies. If the government fails to create employment then they should not be hindered in these matters at all.

[zaim7413]

Technological developments have had a positive impact in the financial sector because they are the result of developments in financial technology and make it possible to replace paper money with digital money in financial transactions in the future. Cryptocurrency also offers an investment side that can be reached by all people, its presence provides convenience and benefits and has helped the economy through the digital economic sector. I predict Cryptocurrency users will increase in the future because it can build economic growth for investors.

[ndutndut]

For me, the presence of cryptocurrency has a huge impact on the economic growth of a country and even has an impact on the lives of many people who benefit from crypto investments. Many young people are unemployed, but with the development of technology, they can now learn about crypto investment easily, which ultimately has an impact on their economy. This also happened to me, who benefited from crypto. Since getting to know crypto, my economy has improved, even though I haven't been able to help my family, at least for myself it's more than enough.

Indeed, Crypto for daily income is difficult. Except for those who are technically skilled. However, ordinary people are advised to buy in installments at each installment. So it's a good holder. Because crypto is a wild market, no one knows and vice versa. But you also have to be careful because crypto is full of risks, especially cryptocurrencies that do not have strong fundamentals. Basically. So traders can fail and can be successful. The point is, if you want to become a trader, you have to set your mindset, expectations and always learn to analyze. Then you will feel the real impact of crypto in your life.

[Gozie51]

Unemployment:

The increase in population of the developing countries and under developing countries will leads to the unemployment due to human resource surplus.The freelancer of this country uses the cryptocurrency as the one of the income generating resource.

I believe the unemployment challenge among the youths will gradually not be a big problem for those who are able to switch into cryptocurrency and other online activities to generate money. There is the online revolution these days that is helping the community of online and crypto enthusiast.The government has failed in the provision of jobs and job search is now shifting to crypto. Cryptocurrency is giving the opportunity for younger people to be involved through trading, arbitrage etc.

[dothebeats]

That's a huge number of people if it's true, and for that, I'd like to ask for some data or credible sources

I know for a fact that bitcoin and crypto is becoming mainstream and known around the world, but I also know that there are only a handful of people willing to touch even with a ten-feet pole due to its high volatility. ETFs are one way to touch cryptos and make money with it, but even that is not aligning with the reasons you outlined as to why cryptocurrency is becoming a hit in these countries because you have to have some dough in order to get some bread.

[oktana]

I do not understand your explanation of how Bitcoin impacts unemployment, and I equally don’t think that Bitcoin impacts unemployment in the way you make it seem. What Bitcoin has done is bringing about the idea of cryptocurrency, which we now have many cryptocurrencies. And if not the jobs like being a blockchain developer, and a few things, Bitcoin doesn’t directly impact unemployment. Or maybe you want to elaborate on what you meant?

[Wexnident]

~

These are pretty exaggerated claims imo. Well it happens, but not to the point that you can describe it as something "huge" as an impact towards developing countries since in the first place, the medium of payment isn't really a problem for the most part. Afaik, PayPal can be freely used in any country available and there are a LOT of freelancing sites out there that don't limit their users. Same with poverty itself.

In the first place, crypto wasn't designed to impact those things. It was an alternative medium of payment that people could use, simple as that.

[AVE5]

Honestly if the hardship in towns hasn't been as it is today's, Bitcoin wouldn't had been so massively adopted to the rate of its interested investors. The incremented volume of crytop interested individuals is highily appreciated due to the potential values of Bitcoin that basically, an affirmed percentage of persons craves at it specifically for its investment potentials with the returns to creat wealth and it course fights against the designations of the harden economy is today's.
So, the Bitcoin Investors decided to find it a means of self employment. After much guys had been in the streets of no profitable income in returns, they got inspired and flexible to undertake the patient and endurance to hodl and keep accumulating their Bitcoins as much as they can with the intake infrastructure that something good profitable different is of th Bitcoin industry.

[wxa7115]

~

These are pretty exaggerated claims imo. Well it happens, but not to the point that you can describe it as something "huge" as an impact towards developing countries since in the first place, the medium of payment isn't really a problem for the most part. Afaik, PayPal can be freely used in any country available and there are a LOT of freelancing sites out there that don't limit their users. Same with poverty itself.

In the first place, crypto wasn't designed to impact those things. It was an alternative medium of payment that people could use, simple as that.

People are trying to make out of bitcoin something that was never designed to do, bitcoin is a great form of money and as such in theory it can be used for any application in which you use fiat.

But that is pretty much it, bitcoin is not supposed to create a lot of jobs, end with fiat currencies or reduce poverty, if anyone here is expecting those kind of outcomes out of bitcoin, they will be very disappointed on the future as I am sure that is not going to happen.

[sekalitas]

Cryptocurrency had their huge root in the many countries economy,now nearly 30-40 percentage of many country people using cryptocurrency for the trading,mining,digital marketing and investment.So at the end they are earning some decent income from the cryptocurrency.The impact of cryptocurrency in the developing countries was huge,because the unemployment and poverty was the biggest hurdle for the developing countries.

Unemployment:

The increase in population of the developing countries and under developing countries will leads to the unemployment due to human resource surplus.The freelancer of this country uses the cryptocurrency as the one of the income generating resource.

Poverty:

Poverty is based on the calorie consumed by the individual based on the food consumption.For the food the individual need of steady income to satisfy with the basic need.Now many graduate unemployed people using cryptocurrency in various form to make some money for the food.

Health,Education and Clothing also the important factor of the poverty determination.All this need of money which was created by the individual by using the cryptocurrency as a mode to earn some money.Let discuss about this factors.

Cryptocurrency offers enticing freelance opportunities in fields often requiring minimal skills beyond internet access. The potential for high returns compared to traditional 9-to-5 jobs is undeniable. However, the inherent volatility of cryptocurrency poses a significant risk of losing everything. Therefore, I recommend leveraging any cryptocurrency earnings to invest in upskilling yourself, like learning programming, which can lead to more stable and secure career paths. While cryptocurrency can be a lucrative income source, remember to diversify your investments to mitigate risk.

[Strongkored]

Poverty:

Poverty is based on the calorie consumed by the individual based on the food consumption.For the food the individual need of steady income to satisfy with the basic need.Now many graduate unemployed people using cryptocurrency in various form to make some money for the food.

I'm sure this is just your opinion and only judging from a few cases, meaning it's not the real thing that happens because of the presence of crypto, in fact I think more people experience losses from investing in crypto because they don't know the right knowledge about crypto because we know there are many scammers in the crypto world, whereas if he invested in Bitcoin it would certainly not take a short period to finally be able to enjoy the results of their investment and reduce poverty

Cryptocurrency had their huge root in the many countries economy,now nearly 30-40 percentage of many country people using cryptocurrency for the trading,mining,digital marketing and investment.

Source? right now the world population is 8 Billion, I don't think it's even reach 1 Billion even though Bitcoin exist since 15 years ago.

Since you already asked, I want to repeat it and hopefully, Op can answer because if there is no definite answer this is just a guess or personal opinion from Op, and I agree that the percentage of crypto users is not that high.

[okorieemmanuel]

Poverty:

Poverty is based on the calorie consumed by the individual based on the food consumption.For the food the individual need of steady income to satisfy with the basic need.Now many graduate unemployed people using cryptocurrency in various form to make some money for the food.

I'm sure this is just your opinion and only judging from a few cases, meaning it's not the real thing that happens because of the presence of crypto, in fact I think more people experience losses from investing in crypto because they don't know the right knowledge about crypto because we know there are many scammers in the crypto world, whereas if he invested in Bitcoin it would certainly not take a short period to finally be able to enjoy the results of their investment and reduce poverty

Cryptocurrency had their huge root in the many countries economy,now nearly 30-40 percentage of many country people using cryptocurrency for the trading,mining,digital marketing and investment.

Source? right now the world population is 8 Billion, I don't think it's even reach 1 Billion even though Bitcoin exist since 15 years ago.

Since you already asked, I want to repeat it and hopefully, Op can answer because if there is no definite answer this is just a guess or personal opinion from Op, and I agree that the percentage of crypto users is not that high.

On the contrary, the percentage of crypto users is a little bit high.4.2% is high from my own perspective

https://triple-a.io/crypto-ownership-data/

[Olatundespo]

During the past ten years, cryptocurrencies have a huge influence on the world economy. It has opened up new avenues for financial independence and investment. Bitcoin is given value by its users, supply and demand.

it has all the essential properties of paper money but you can not physically touch the currency. But it might be effected in a state for the safety of economy.

Basically Bitcoin is often considered a digital alternative to traditional stores of value like gold. Investor may turn to Bitcoin as a hedge against economic instability, inflation or currency depreciation.
BTC have a Innovation payment system. It has evolved into an investment asset class, attracting institutional and retail investors seeking diversification and potential returns.

BTC is the borderless and decentralized nature makes it attractive for international trade and remittances, potentially reducing dependence on traditional financial systems and enabling greater economic integration across borders. It influence continues to evolve as adoption grows and as policymakers businesses

Overall BTC impact on economics is multifaceted.

[Mame89]

Unemployment:

The increase in population of the developing countries and under developing countries will leads to the unemployment due to human resource surplus.The freelancer of this country uses the cryptocurrency as the one of the income generating resource.

I believe the unemployment challenge among the youths will gradually not be a big problem for those who are able to switch into cryptocurrency and other online activities to generate money. There is the online revolution these days that is helping the community of online and crypto enthusiast.The government has failed in the provision of jobs and job search is now shifting to crypto. Cryptocurrency is giving the opportunity for younger people to be involved through trading, arbitrage etc.

So true. Cryptocurrencies have provided a space for the unemployed youth to earn income from crypto trading. This also happens in many countries, including in my country. many unemployed young people are using Cryptocurrency to earn income and can even change their economy. At a time when the country does not provide job opportunities for the younger generation, Cryptocurrency is here for some people to develop their talents in trading. Unemployed people don't have to work in an office, but if they can earn income from trading then it can be said to be a job.

It is time for the younger generation to understand cryptocurrency trading both in the short and long term, because cryptocurrency is the only investment that makes sense over time because it has proven to be very profitable. Yes, of course cryptocurrency trading can be very profitable if you have the right strategy and a good manager.

[0t3p0t]

In short cryptocurrency plays an important tool to solve the problem about poverty and unemployment which for me helps improve the economic growth of a specific country. Take note that we are still in the early stage of adoption so expect to have a massive adoption in the near future.

[Lantind]

In short cryptocurrency plays an important tool to solve the problem about poverty and unemployment which for me helps improve the economic growth of a specific country. Take note that we are still in the early stage of adoption so expect to have a massive adoption in the near future.

Some people who have been able to take advantage of crypto will be able to increase their income because they can invest the money they have or trade to get income from crypto, if those who don't have a job will of course also be able to invest or trade using their income. from campaign payments that are followed in this forum so that they have earned income according to their abilities, if mass adoption can occur of course this will be very beneficial for those who understand it well so this will be very profitable for those who know more beginning.