The influence of cryptocurrencies in economy

[bocyaj]

The crypto currency doesn’t have a red carpet welcome when it enter the market.The bitcoin itself doesn’t have huge investors at the beginning,after the survival for certain period of time.The bitcoin had build their own trust among the users,the biggest reason is the Bitcoin was the decentralised cryptocurrency.So no one had control over the price of bitcoin,only the market demands define the price of bitcoin.When the bitcoin had huge demand we can able to get into the bull run,as we recently get into the 51k mark on the Bitcoin price.

Now the bitcoin and most of the cryptocurrency had huge trust by the people around the world.This was the biggest reason for bitcoin demand was increasing with the period of time.The bitcoin already crossed the decade of survival,So this was the biggest change in the current economy.Many people from the various countries use the bitcoin and cryptocurrency in some way either for the investment or for holding their assets in the digital form.This was the reason behind the government of various countries try to regulate to control the money flow in the market.

[SamReomo]

It's true that due to decentralized nature of Bitcoin no one can control its growth. It's the investors who invest fiat into Bitcoin that helps Bitcoin to grow in value.

All traditional fiat currencies are controlled by the centralized system but Bitcoin is free from that centralized system and anyone can use it without any restrictions.

Yes, I highly agree that many people use Bitcoin from all over the world. Some people purchase Bitcoin and hold it for years so they can earn huge profits when its value grows.

There are investors who even think that Bitcoin can reach $1M in near future and they're so firm in their belief that they have been holding their Bitcoin for many years.

Surely, it's due to Bitcoin that other crypto-currencies are also able to get some share of users.

[goaldigger]

From no influence to one of the biggest market today, and this is the story of Bitcoin and cryptocurrency.
We all know adoption is still a problem to many but still the effect of cryptocurrency in the economy is still positive despite of the challenges when it comes to regulations. Many people are making money in cryptomarket and that could be the start of the cycle to affect the economy. We have to be more wise in spending our earnings, and know how to pay the taxes properly to avoid any charges or fees from the government regulation, crypto is indeed making a good impact now.

[Upgrade00]

Cryptocurrency does not affect economies of countries. It's correct that there are people who see it as an investment but to is not yet as popular to hugely impact the economy of a nation.

If Bitcoin adoption keeps growing and attracting more people it can have enough of a impact to influence economies, but not yet.

[lovesmayfamilis]

Bitcoin is still in an uncertain state for many countries, and it is unlikely to have an impact on the economy. Some countries are slowly getting used to it, while others are introducing strict rules. But of course, the digital revolution is changing the world more and more, thereby changing our economic reality. But while there are no general rules of regulation and stability, in order to ensure successful development, Bitcoin will remain in a gray zone for many countries and will not affect the economy in any way.

[Wexnident]

~

Well if you're talking about the crypto scene in general, and not the economy itself, then yeah, it has changed over the years mainly due to crypto being part of the developing mainstream. It still has some issues with some countries here and there but at the very least, most people have taken notice of it or have some semblance of idea (the idea being correct or not is another topic) about the term itself.

Now if we're going to talk about its impact to the economy, I don't think there's going to be one, at least not yet. I'd at the very least wait till most chains of major businesses are able to transact with Bitcoin or crypto in general before even trying to tally up whatever effects it can probably have.

[livingfree]

Say about the entire crypto market is what the government of each country is looking at. We've seen people that are jobless that have made their own dedication and allotted time into full time airdropping and bounty hunting.

Some may be successful in it and those that earns real money from it contributes to a country's economy. They have to see that part where someone who doesn't have a source of income but because of the crypto market itself and the opportunities that are in it, gives someone an opportunity to earn although they're temporal.

[dimonstration]

Now the bitcoin and most of the cryptocurrency had huge trust by the people around the world.This was the biggest reason for bitcoin demand was increasing with the period of time.The bitcoin already crossed the decade of survival,So this was the biggest change in the current economy.Many people from the various countries use the bitcoin and cryptocurrency in some way either for the investment or for holding their assets in the digital form.This was the reason behind the government of various countries try to regulate to control the money flow in the market.

So far, Bitcoin is still doesn’t have any impact that can affect a country economy. The demand on Bitcoin is still not effect to consider it to affect economy. It’s the opposite, The current economy affects Bitcoin positively since people choose Bitcoin as safe haven investments to dodge economic crisis due to inflation and recession.

Bitcoin is still not a legal tender on a major country. Which means fiat is still control the majority of the global economy. But maybe in the future this thread will stand if everyone is already using Bitcoin as substitute to fiat for all kind of transactions.

[slapper]

The rapid rise of Bitcoin is about changing how we value and trust. Although governments scramble to regulate, they can't control it. That's Bitcoin's beauty and beast. Game-changing because it challenges economic paradigms. You mentioned trust? It's financial autonomy paradigm shift, not just trust. People hate economic puppeteers and centralization. Bitcoin is a decentralized alternative. Its decade-long survival shows its endurance and the global desire for financial freedom

How about cost? It reflects the communal belief in a non-traditional system, not merely demand and supply. It will endure and expand because it is a financial beacon

[Apocollapse]

I doubt if cryptocurrency had huge trust by the people, people around myself only know the definition, but if you ask them whether they have cryptocurrency or not, mostly they will say no. It could be they just want to protect their privacy, but majority of people are don't care with privacy too.

Even though Bitcoin is a huge change to centralization, but the government don't have any problem with Bitcoin because people willing to use CEX to trade their coins, so the government can easily know the wealth and trading history of every person.

[STT]

The view of the mainstream economy for crypto is via the tech spectrum and developments there being somewhat related.   The other aspect would be finance and modern tech elements to startup banking especially serving consumer demand for dynamic online payments.   Many countries are willing to welcome crypto on the basis of job creation in a growth sector, though its volatile BTC is not new and unknown any more so can better justify itself and demand a place at the table.

[Negotiation]

Cryptocurrencies have emerged as a revolutionary force in finance and technology. Cryptocurrencies have multiple uses as the technology evolves challenging the financial system and attracting the attention of investors, businesses and governments. The use of cryptocurrencies makes it possible to transact in the remittance sector at a lower cost than before. A large population of the country is preferring crypto over banking facilities. Cryptography and blockchain technology are playing an important role to include them in this service easily and quickly.

[Zanab247]

If you look around the world today, you will know that majority of people that are not using cryptocurrency in the world are more than those that are using cryptocurrency to boost their wealth and, I don't think it can influence economy negatively or positively because is a decentralized currency that is not control by any government or country of the world.

 There are many countries in the whole world who don't legalize BTC in their countries and,  any citizens find using it for any transaction he or she will face the punishment which is among some things that is causing the users to be very few in some countries because, they don't want to disobey the law of their land.

[Husires]

The price alone is not the driver for investing in Bitcoin, otherwise it is impossible for Bitcoin to rise again after its collapse by 80%.
Bitcoin has a market value greater than just being an investment or because of the market’s capacity, and to date, central banks’ statements are against cryptocurrencies and Bitcoin. The fact that Bitcoin is popular means that its value increases, but the lack of huge investors will not make its value very low.

[DeathAngel]

Cryptocurrency particularly Bitcoin is reshaping the economy by introducing decentralised digital currencies that operate independently of traditional banking systems. Its impact includes increased adoption by retail & now institutions which leads to new investment opportunities & financial innovations. Challenges such as price volatility & regulatory uncertainties persist. Bitcoin is disrupting traditional financial systems prompting discussions on the future of money & the potential for a more inclusive & efficient financial landscape.

[Fiatless]

The crypto currency doesn’t have a red carpet welcome when it enter the market.The bitcoin itself doesn’t have huge investors at the beginning,after the survival for certain period of time.The bitcoin had build their own trust among the users,the biggest reason is the Bitcoin was the decentralised cryptocurrency.So no one had control over the price of bitcoin,only the market demands define the price of bitcoin.When the bitcoin had huge demand we can able to get into the bull run,as we recently get into the 51k mark on the Bitcoin price.

Now the bitcoin and most of the cryptocurrency had huge trust by the people around the world.This was the biggest reason for bitcoin demand was increasing with the period of time.The bitcoin already crossed the decade of survival,So this was the biggest change in the current economy.Many people from the various countries use the bitcoin and cryptocurrency in some way either for the investment or for holding their assets in the digital form.This was the reason behind the government of various countries try to regulate to control the money flow in the market.

Bitcoin has grown over the years to become one of the leading currencies and investments. Before now, it was neglected and seen as a currency that would not last for a long time. But Bitcoin has proved these sceptics wrong because it has kept attracting personal and institutional investors. The decentralised nature of Bitcoin is what distinguishes it from other crypto and fiat currencies.

Bitcoin has helped individuals and businesses to build their finances, however, the effect of Bitcoin on the economy of nations is still sketchy. El Salvador is a case study of how Bitcoin can affect an economy, but we still need to give the country more time before will begin to evaluate how Bitcoin has contributed to the development of the country's economy.

Most unfriendly have failed to control Bitcoin because of its decentralised nature, but they have started making policies to regulate it. But as much as we keep using decentralised platforms, they might not be able to control Bitcoin.     

[el kaka22]

Having crypto in everyday persons life makes it so much better for the longest time. It enhances the possibility of making more money and having an out.

Right now, regular people (who are the majority in the world) who makes normal amount of money, the median average or less, those people will not have the financial freedom that easily, a few may end up giving up 20 years of their life, just spend as minimum as possible, do not go out, do nothing basically and save and have a better life after that, which I respect if that's their choice but most people want to live their life as well which causes a lot of trouble for finances. Crypto shows a way out of there and could be the most important asset that we have seen in our life.

[snowpega]

Cryptocurrency has many positive impacts on the economy because I have seen many people who have good levels of education, and degrees but they do not have any jobs to meet their daily expenses they are worried and looking for their jobs to meet their daily and family and personal expenses as well. Here Stands this field in their favor where no degree is needed to qualify, and no boss, People are their own boss here in this field.

All that is needed here is good learning of Technical analysis and fundamental analysis. The more knowledge will you gain will be count as less because market sentiments are too unpredictable and we have to stay in the learning phase. Knowledge is the power here in the crypto space. So, I have seen many young age kids making a good amount of money from crypto and they are bearing their own expenses. So there is no doubt cryptocurrencies are playing a positive role in the economy.

[aylabadia05]

Now the bitcoin and most of the cryptocurrency had huge trust by the people around the world.This was the biggest reason for bitcoin demand was increasing with the period of time.The bitcoin already crossed the decade of survival,So this was the biggest change in the current economy.Many people from the various countries use the bitcoin and cryptocurrency in some way either for the investment or for holding their assets in the digital form.This was the reason behind the government of various countries try to regulate to control the money flow in the market.

The most pronounced influence in the economy is hedging.
Bitcoin has a system that most other cryptocurrencies follow Bitcoin. Decentralization is the concept that has made Bitcoin survive to this day in my opinion and is known as an asset that has a strong foundation. Basically, the use of Bitcoin as a long-term investment asset by the majority of people in the world is because Bitcoin has proven its value as has been widely discussed in various discussion rooms by people with sufficient experience and expertise.

Because the use of Bitcoin as a currency is still hampered throughout the world, making Bitcoin an investment asset could be the right step because the goal of people adopting it is for an investment that can generate profits from the large number of requests.

[alastantiger]

It would take another decade or so and another el Salvador situation to be access the impact cryptocurrencies on the economy of any country however it must be under strict criteria. Until then, crypto and the economy will be two parallels.