Cryptocurrency impact on Economy

[umbara ardian]

The impact of cryptocurrency on the global economy presents both opportunities and challenges. While it undoubtedly offers greater financial inclusion for unbanked populations and facilitates faster, cheaper cross-border transactions, concerns regarding volatility, illegal activities, and the potential disruption of traditional financial systems merit careful consideration.

Cryptocurrencies offer access to financial services for individuals outside the traditional banking system, promoting financial inclusion and potentially fostering global economic development. Additionally, crypto-based transactions eliminate intermediaries, leading to faster and more cost-effective cross-border settlements. This could prove particularly beneficial for facilitating international trade and remittances. But, the inherent volatility of cryptocurrencies poses significant risks for investors and businesses. Wild price fluctuations can erode investor confidence and hinder the adoption of crypto as a reliable store of value.

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[Antotena]

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.

What do you mean by solve poverty? I bet you don't know the total number of poor people worldwide and you don't know how many of them that aren't expose to the internet. To make money from cryptocurrency, you first need to understand the internet and then you also need to understand how to read and write and also how to comprehend, many poor number of people don't have the things I made mention. The world is still poor but we can all agree that availability of cryptocurrency has help many have a ways to earn money without depending on anyone.

Trading is one of the acute aspect the cryptocurrency has provided for many people, you just need to understand how it work and what to use to start which is money. If you are an experienced trader, between yesterday and today, Bitcoin has make a move of 10% in the last 24 hours, playing with such swings can get you an average of 50% which is better than even saving the money in the bank, you can earn more if it were altcoins. This is what crypto gives that the government can't give to people.

[tygeade]

What do you mean by solve poverty? I bet you don't know the total number of poor people worldwide and you don't know how many of them that aren't expose to the internet. To make money from cryptocurrency, you first need to understand the internet and then you also need to understand how to read and write and also how to comprehend, many poor number of people don't have the things I made mention. The world is still poor but we can all agree that availability of cryptocurrency has help many have a ways to earn money without depending on anyone.

Trading is one of the acute aspect the cryptocurrency has provided for many people, you just need to understand how it work and what to use to start which is money. If you are an experienced trader, between yesterday and today, Bitcoin has make a move of 10% in the last 24 hours, playing with such swings can get you an average of 50% which is better than even saving the money in the bank, you can earn more if it were altcoins. This is what crypto gives that the government can't give to people.

The thing is that, the world COULD provide all for everyone, it is not really about internet or anything like that, it's about wanting equality for real or not. Just sit down for a second, and consider, could we provide housing, clean water, food and education also even healthcare to EVERYONE in the world with the riches we have right now in the world? I can tell you, we can, it's there, it can be done. Why are we not doing it then?

Because we do not want equality, not in that sense, we want people with their private jets because they made a great company, we want people to have their own warehouses with twenty thousand workers, because they grew their company. We don't want equality, we don't want internet or smart phone at every hand, we want the possibility of being rich beyond our needs.

[Linggajanitra]

There are positive impacts and negative impacts of cryptocurrency on economic activity.
It can be concluded that there are several positive impacts of Crypto, namely:
   1. Ease of access to financial services.
Can shorten in making payments, facilitating payment transactions, giving profits when making payment transactions and also increase efficiency in conducting transactions.
   2. Crypto can make transactions directly without carrying out intermediaries around the world safely, quickly and more cheaply so as to encourage economic growth.

Behind the positive impact, there is also a negative impact of crypto on the economy. The negative impact of Crypto on economic activity in broad outlines can relax the economic growth of a country. This is because there are two negative impacts, namely:
   1. Threat of cyber crime
SBer crime media that is very easily accessible and studied on the internet. Cyber crime is all the activities that are commonly carried out by the perpetrators on digital transactions, namely by damaging the institutional network by stealing and abusing valuable data and documents, committing fraud and hacking bank accounts and transferring funds or money to their accounts. The emergence of this cyber threatens the defense and security of the state so that it has the potential to disrupt the economic pace.
   2. Central authorities need to make regulations involve cryptocurrency innovation infrastructure and build infrastructure of virtual currency systems with rules that focus on stablecoin to be able to involve cryptocurrency into systems and policies to strengthen financial ecosystems and facilitate economic activities that can accelerate the rate of economic growth
   3. To minimize negative impacts, central authorities can tighten the prohibition policy on the use of cryptocurrency developed by the private sector as legal tender, because it can cause cyber crime and threaten financial system stability which in turn can hamper economic activities.

[slashz9]

is that true, most people don't have jobs because of the lack of job opportunities?
then they tried to look for information on the internet and found crypto, I was also one of the people who was helped by this.
if I didn't know crypto maybe I would be trapped in poverty.
Currently I have gotten some results from crypto even though I lost a lot in trading.

[mihaybus]

The impact of cryptocurrency on the global economy presents both opportunities and challenges. While it undoubtedly offers greater financial inclusion for unbanked populations and facilitates faster, cheaper cross-border transactions, concerns regarding volatility, illegal activities, and the potential disruption of traditional financial systems merit careful consideration.

The most important here are just 2 aspects: cross-border transactions and illegal activities.

Everything else is pure demagoguery, as in any economics textbook.

[Sorryfor]

Cryptocurrencies have a major impact on the economy. Currently, everyone, whether rich or middle class, can benefit from this cryptocurrency. It's not like the big whales are the only ones profiting from this. Those who know about this crypto currency can earn by investing and trading here. It is a system through which people can earn money with transactions if they want. I think cryptocurrencies will dominate the economy in the future.

[Ultegra134]

You're mentioning numbers and percentages in your initial post, which I honestly find exaggerating. As other users have already suggested, 30% to 40% is an extremely high number that, firstly, doesn't make sense, and secondly, even if it did, you haven't provided a reputable source to back your claims. Personally, I don't see how cryptocurrencies are able to assist, let alone solve such complicated issues as poverty and unemployment. You're not presenting any solid arguments to back up any of what you're saying.

I'm sorry, but I do not agree. Cryptocurrencies can certainly assist in many sectors, such as freedom, anonymity, or fast transactions across the globe. They can assist financially, but mostly on an individual level. They don't grow on trees; they're not a money-printing business.

[beerlover]

The thing is that, the world COULD provide all for everyone, it is not really about internet or anything like that, it's about wanting equality for real or not. Just sit down for a second, and consider, could we provide housing, clean water, food and education also even healthcare to EVERYONE in the world with the riches we have right now in the world? I can tell you, we can, it's there, it can be done. Why are we not doing it then?

Because we do not want equality, not in that sense, we want people with their private jets because they made a great company, we want people to have their own warehouses with twenty thousand workers, because they grew their company. We don't want equality, we don't want internet or smart phone at every hand, we want the possibility of being rich beyond our needs.

This is the unfortunate truth, people are not aware of it so much but the reality is that we are going to end up with not having equality for the sake of improvement. However, what you also should realize is that if we had that type of equality, we wouldn't have innovation and progress as much as we have right now.

People who know that there is a possibility they could make some money and be richer than everyone else, puts in more effort right now, free market is not bad, we could find some middle ground. We should allow or at least open the way for people to be as rich as possible if they make something the whole world needs, whereas we should also help the poor as much as we possibility could, maybe more than now, but not make them live for free.

[kryptqnick]

Op is just stating that 30-40% of the population of some countries use cryptos, but provides no sources to back this up. The impact of cryptos and crypto-related businesses on local economies should be measured by proper research, not mere speculations, in my opinion. Also, apart from the gains, it should account for losses in crypto scams.
The whole post kind of sounds like generic assumptions without any evidence to back them up, to be honest.
I mean, I like this whole pro-Bitcoin attitude that Bitcoin helps escape poverty and unemployment, but when it's just words with no proof, it doesn't mean much.

[southerngentuk]

Hustling for work, both online and abroad, can be tough, and not everyone has the same opportunities. Poverty's a real bummer, and it's easy to see how it can feel normal when everyone around you is struggling. But hey, props to those with the open mind and drive to break free, even if it means barely having enough food on the table.

Crypto can be a cool tool, with stories of people getting lucky with airdrops and stuff. But let's be real, it's not a guaranteed path to riches. It's like a rollercoaster – exciting, but with the potential to leave you feeling queasy and empty-handed. Relying on it for long-term change is risky, like building your house on sand.

[strunberg]

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.

I think this statement requires attaching a reference as proof of the validity of this information. Your statement contains facts that in my opinion require additional evidence that can support the facts you have provided. You said that it was a country so my question is what country do you mean?

So I think you should re-correct the percentage you said. Because even if it is a country I think 30-40% is a large number where almost half of the population in that country uses cryptocurrency for the fields you mentioned. Trading and mining may be associated with cryptocurrencies but what about investment and digital marketing? I think currently not many people use cryptocurrencies as a medium of exchange because of the fee problem which in my opinion is still high if used for small scale transactions.

[CageMabok]

Cryptocurrencies have a major impact on the economy. Currently, everyone, whether rich or middle class, can benefit from this cryptocurrency. It's not like the big whales are the only ones profiting from this. Those who know about this crypto currency can earn by investing and trading here. It is a system through which people can earn money with transactions if they want. I think cryptocurrencies will dominate the economy in the future.

In fact, at this very moment we can say that Cryptocurrency is already very dominant in all circles of society because there are many people who already know about it and have also invested and traded on several well-known exchanges. So the impact of Cryptocurrency on the economy is actually very widespread so that it will continue to spread in the future with more different conditions in the future. So personally, each of you should no longer need to doubt Cryptocurrency because the fact that it is profitable has also happened very clearly.

[lixer]

Cryptocurrency has a significant impact on the economy. It offers the potential for financial inclusion by providing access to banking services for the unbanked. It can enable faster & cheaper cross border transactions which reduces the need for intermediaries. Volatility can pose risks for investors & businesses. Cryptocurrency also raises concerns about money laundering & illegal activities. The decentralised nature challenges traditional financial systems. Cryptocurrency has the potential to revolutionise the economy but its impact is still evolving & requires careful regulation & monitoring.

Cryptos are not a bank but many thinks their features are the same. Not all cryptos are fast and has a cheap fee. And then not all cryptos are decentralized. Volatility is what makes cryptos risky but at the same time profitable as long as you know how to utilize it. The decentralized nature of cryptos is the reason why laundering and other illegal activities are present but we should not worry anymore since there are now regulations that are in place to combat them.

Traditional financial systems got challenged when the cryptos came out and that is a good thing because it makes them to improve as well. Cryptos are already revolutionizing some economies which is also a good thing, especially for those who wants it. I think old systems are still going to remain for those who don't like or know how to use the new systems.

[naikturun]

I agree that many people have progressed because of crypto, imagine you can only make a monthly salary, then they get to know crypto, it is very helpful.
investments that can be made with money that do not have to be large amounts,

[Tomcolor]

I think Unemployment grips the people of my country and many unemployed youths are unable to make it as crypto is not accepted in my country. But most of the people in my country have become self-sufficient by keeping secret and working in the crypto market. In fact developing countries have more of these facilities, so the unemployment rate of those countries is lower. Actually crypto currency helps a lot as a source of income. Actually we need more money every day to manage our life so we are forced to buy any source.

[IvugeoEvolutionCoin]

I think Unemployment grips the people of my country and many unemployed youths are unable to make it as crypto is not accepted in my country. But most of the people in my country have become self-sufficient by keeping secret and working in the crypto market. In fact developing countries have more of these facilities, so the unemployment rate of those countries is lower. Actually crypto currency helps a lot as a source of income. Actually we need more money every day to manage our life so we are forced to buy any source.

Many unemployed people in my country have become self-sufficient by choosing crypto currency as source of income. I think those who are unemployed should have good experience about crypto currency and start working with crypto currency. I used to hear from everyone that I can earn money from crypto currency.  After that I heard a lot about it from many people and with good idea now I can earn money from crypto currency.

[WillyAp]

Many unemployed people in my country have become self-sufficient by choosing crypto currency as source of income.

What country that might be?
Some people just loiter on the street where I live, they refuse to work or look for work and sell here and then a part they "find" get gifted and so on.
Many people have created businesses, which are now hunted down by the mayor's office.

Still in other parts of the country the productivity is neglected due to the lack of gasoil, gasoline. 

Crypto has its place but most businesses will not accept anything other than PP or mobile payments. The fact that you as a business need to accept many forms of value has not penetrated. 

[shinratensei_]

I agree that many people have progressed because of crypto, imagine you can only make a monthly salary, then they get to know crypto, it is very helpful.
investments that can be made with money that do not have to be large amounts,

exactly, some people made their side hustle by simply trading derivatives and thats already sufficient despite all the risk involved because we know the risk is also there, but some people that successfully traded their money whether for futures or spot and could make profit are definitely the ones that sees good effect of crypto in their current financial situation.
it could definitely help them to increase their income up their game, live a life they wanted from the very beginning.
it all depends on the will of an individual if they are willing to find opportunity they will definitely earn.
if they just want to get rich quick then i won't be surprised if they instead losing all their money.

remember to increase income it needs some process and skills, without that its almost obvious that things won't end well, same thing with crypto it requires knowledge and strong will, then someone could earn much more income.

[MissNonFall9]

There is no alternative to making money in today's competitive world. But in today's modern and technological era, as technological advancements have reduced the scope of human activities, so has the way of earning money. In that case, cryptocurrency is playing a big role in eliminating the unemployment problem as a message of hope.

For example, in a country like ours, due to the large population, the work area is very small, so it is not possible to find a way of earning money from that aspect by the government.
On the other hand, as the current world is moving forward, it appears that all countries will gradually become cashless. So from the above discussion, we can conclude that cryptocurrency will play a very big role in the current economy.