Is the only aim of devaluation, to help stimulate a countries economy?

[Cryptomultiplier]

We all know that when a country devalues its currency by making policies in this regard, it could backfire and produce results that may be of an inflationary type, whereby exports are cheaper than imports and local consumers may be left to pay heavy for imported products or patronize locally manufactured products.
Although, many of these policies are enacted, so as to gain a competitive edge in the global market and help clear out backlogs probably accrued from previous government regimes, it is many times a conscious and deliberate decision by the government to reduce the spending or purchasing power of its own currency, and it is sometimes because of neighboring countries doing same just to have an edge in the world market space.

*could the acceptance of cryptocurrency help stimulate a countries economy besides devaluation?

*What other ways can a country stimulate her economy without devaluing its currency?

Let's discuss!

[Helena Yu]

Cryptocurrency is just a "money" it doesn't change anything.

When a country choose to devalue it's currency, it's either due to their weak regulation or their internal problem (low productivity, low birth rate). If their regulation are strong, they should aware that they need increase the taxes import and encourage their citizen to become entrepreneur.

But, when the country have internal problem, it means they're the problem, it could be their bad culture or corrupt.

[Frankolala]

*What other ways can a country stimulate her economy without devaluing its currency?

Let's discuss!

Good government is what a country needs to stimulate her economy. The country should increase their productivity because that will boost employment rate and income level. Skill acquisition and youth empowerment should be carried out by the government, so that citizens can be self employed in order for them to have employees.

If the government is corrupt, it will be very hard for such country to achieve a stimulated economy, and that is why the country currency will be devalued due to inflation and printing a higher denomination of currency so that they can easily siphon huge amount of money.

[Wind_FURY]

We all know that when a country devalues its currency by making policies in this regard,

Devalues = Print more money?

it could backfire and produce results that may be of an inflationary type, whereby exports are cheaper than imports and local consumers may be left to pay heavy for imported products or patronize locally manufactured products.

It's not "could" produce inflation, it DEFINITELY WILL produce inflation. There was never an increase in the money supply that didn't cause inflation, and there was never inflation that wasn't caused by the increase in money supply. The two of them always go together.

Although, many of these policies are enacted, so as to gain a competitive edge in the global market and help clear out backlogs probably accrued from previous government regimes, it is many times a conscious and deliberate decision by the government to reduce the spending or purchasing power of its own currency, and it is sometimes because of neighboring countries doing same just to have an edge in the world market space.

Probably for China and for some other countries, that's true. But for many countries, they can't compete. Plus for those countries, the Cabal perhaps has other "reasons".

*could the acceptance of cryptocurrency help stimulate a countries economy besides devaluation?

*What other ways can a country stimulate her economy without devaluing its currency?

Let's discuss!

If you ask me, every pleb like me should understand that Bitcoin is not here to "save" an economy. It should probably help establish an parallel economy and compete with the legacy economic infrastructure.

[jrrsparkles]

I don't remember any government deflated their currency in the last few decades, devaluation= deflation which is bad for the economy of a country cause decrease in the price will leads to loss of profits for companies that can distress the chain process of salary - employee - money spent so inflation to considerable level is good for the economy but from individuals perspective it's eating the purchasing power of the money we have so it force people to spend their money and push towards consumerism.

[Hewlet]

*could the acceptance of cryptocurrency help stimulate a countries economy besides devaluation?

if cryptocurrency or more directly, Bitcoin gets accepted in a country and they refused effecting key economic policies that's supposed to help remedy the economic situation that they are facing, it wouldn't matter if they have accepted it or not. Bitcoin is just like my money and we all know that the use of money alone doesn't help to solve a single problem. It's how you make use of the quantity of money you have in your disposal that matters in the end.

If what you're considering is that with Bitcoin being accepted as a payment medium, we wouldn't be talking about difference of exchange rate which plays a great role in the amount that's used in both importation and exportation. It can still work at this point even though Bitcoin hasn't gained the global recognition it should have gotten.

Let's say you want get an item from a firm in a country that uses dollar and you've stored your wealth in Bitcoin while they can accept your Bitcoin as a payment option. If you're directly see sending it to them, it would be a great way to avoid the effect of the difference in exchange rate between countries but the issue is when you're converting your funds from your local currency to dollar and then you will now have to buy Bitcoin with it and use it to carry out your transaction. It's going to be a counter productive strategy that wouldn't make any sense.

*What other ways can a country stimulate her economy without devaluing its currency?

what happens to increased dependence on locally made goods? What about setting up an environment that's conducive for investors to thrive and carry out business? You have to know that devaluation of your local currency is a mere short termed initiative that's only feasible for the short term. If you're looking at solving real economic issues, you will have to go back to the drawing board and ensure that locally, you're able to provide at least 50% to 60% of what you need.

[Charles-Tim]

We all know that when a country devalues its currency by making policies in this regard, it could backfire and produce results that may be of an inflationary type, whereby exports are cheaper than imports and local consumers may be left to pay heavy for imported products or patronize locally manufactured products.

If there is inflation, the central bank of the country will have no option than to devalue the fiat value of the nation. What the citizens will know is that export products will also become expensive as local products are becoming expensive.

*could the acceptance of cryptocurrency help stimulate a countries economy besides devaluation?

No.

*What other ways can a country stimulate her economy without devaluing its currency?

By increasing GDP and exporting more than importing.

[Zlantann]

We all know that when a country devalues its currency by making policies in this regard, it could backfire and produce results that may be of an inflationary type, whereby exports are cheaper than imports and local consumers may be left to pay heavy for imported products or patronize locally manufactured products.
Although, many of these policies are enacted, so as to gain a competitive edge in the global market and help clear out backlogs probably accrued from previous government regimes, it is many times a conscious and deliberate decision by the government to reduce the spending or purchasing power of its own currency, and it is sometimes because of neighboring countries doing same just to have an edge in the world market space.

A country that devalues it's currency to gain competitive advantage will achieve it only when it has a favorable balance of trade. A country that depends on other countries for most of its raw materials, manpower, and technology will not win the global competition struggles. The reason is that the country will have to spend more on imports which will also increase the price of local goods. Neighboring countries that import less might sell cheaper goods. The government of my country has been devaluing our currency but it has had no benefit because we import almost everything we need to produce what we sell.

*could the acceptance of cryptocurrency help stimulate a countries economy besides devaluation?

Adopting cryptocurrencies will do nothing to help a country with a dying economy. The government must fix the economy before they can benefit from the little crypto investment can offer. Just like El Salvador, nations can hodl Bitcoin and make a profit when the price appreciates.

*What other ways can a country stimulate her economy without devaluing its currency?

The first thing is education. The government should invest in the people to enable them to acquire skills that will make them productive. Infrastructural development such as constant power supply, good roads, internet facilities, technology, etc, attract local and international investments. Political stability and good government policies are also important because investors will avoid conflict-prone nations. Any technologically advanced country will be able to make money from those that are backward.

[Silberman]

...

*could the acceptance of cryptocurrency help stimulate a countries economy besides devaluation?

I doubt it, while I really think that bitcoin is the best currency we have available, at best what bitcoin can do is to store value, but it will not produce value by itself in the form of economic growth.

*What other ways can a country stimulate her economy without devaluing its currency?

By doing the only thing that works, by setting reasonable taxes, avoiding overregulating industries, having a stable economy, encouraging foreign and internal investment and finally by reducing government spending on areas that are not critical and instead direct that money to other areas which could produce economic growth.

[Orpichukwu]

Good government is what a country needs to stimulate her economy. The country should increase their productivity because that will boost employment rate and income level. Skill acquisition and youth empowerment should be carried out by the government, so that citizens can be self employed in order for them to have employees.

The employment rate being boasted is also a good way to reduce poverty in a country, which will also contribute to the economy's growth. But we should also not forget that investing in locally made products will also help. For example, the government should focus on locally made products, which will also help.
 
For example, the government should focus on empowering those who are into the manufacturing of goods that are regularly used in the country to reduce the amount of importation they do in the country. If importation is reduced, there is a high possibility of the economy moving a bit forward, and those locally manufactured products can also be exported to other countries.

[Webetcoins]

I don't remember any government deflated their currency in the last few decades, devaluation= deflation which is bad for the economy of a country cause decrease in the price will leads to loss of profits for companies that can distress the chain process of salary - employee - money spent so inflation to considerable level is good for the economy but from individuals perspective it's eating the purchasing power of the money we have so it force people to spend their money and push towards consumerism.

That is because they know that it was a bad thing, so why will they do it intentionally? They can only do things (silly or not) which can affect the value of their currency or can make it drop. I still think that devaluation and deflation are too different things, and to me, deflation is not that bad.

Let's face it, it's better to have an affordable price in our goods than compared to higher price and I think it does not always mean that the people behind it are losing. The one that really affects them are the recession and it can happen whenever there is an inflation. Spending money is a good thing because life is only short and we still can spend it in valuable things including investments, that can help us make more money.

[Davidvictorson]

*What other ways can a country stimulate her economy without devaluing its currency?

I live in a country where the judiciary that is supposed to be independent of the presidency is in bed with them. They support corrupt politicians. Corrupt politicians use them to oppress the poor, grab lands, win contracts and all. They indirectly destroy the economy. One of the ways to stimulate the economy is to rid the society of corrupt politicians - lock them up for life an let them rot in jail. Their wealth which runs into billions gotten through illegal means should be seized and put into the economy. The judiciary should be independent of the presidency and corrupt judges should face the same fate as corrupt politicians.

[AmoreJaz]

*What other ways can a country stimulate her economy without devaluing its currency?

I live in a country where the judiciary that is supposed to be independent of the presidency is in bed with them. They support corrupt politicians. Corrupt politicians use them to oppress the poor, grab lands, win contracts and all. They indirectly destroy the economy. One of the ways to stimulate the economy is to rid the society of corrupt politicians - lock them up for life an let them rot in jail. Their wealth which runs into billions gotten through illegal means should be seized and put into the economy. The judiciary should be independent of the presidency and corrupt judges should face the same fate as corrupt politicians.

Corruption is indeed an old sickness of the government. However, if the government is sincere to their mission, efficiency and resources are among their top priorities to battle this economic aspect of their jurisdiction. They should also look into tax cuts and tax rebates in order to benefits its consumers. When you increase the productivity, and so is the economy. It will be a domino effect if the government is finding ways how to alleviate the living of its people.

[Wind_FURY]

I don't remember any government deflated their currency in the last few decades,

There are periods in a cycle when a Central Bank needs to deflate the currency. Currently, the U.S. is in a deflationary period. Their money supply has been going down since the increase in interest rates to fight inflation.

devaluation= deflation which is bad for the economy of a country cause decrease in the price will leads to loss of profits for companies that can distress the chain process of salary - employee - money spent so inflation to considerable level is good for the economy but from individuals perspective it's eating the purchasing power of the money we have so it force people to spend their money and push towards consumerism.

That's not actually true. Deflation of a currency doesn't "devalue" it. It actually increases its value, and encourages people to save.

[Cryptoprincess101]

The employment rate being boasted is also a good way to reduce poverty in a country, which will also contribute to the economy's growth. But we should also not forget that investing in locally made products will also help. For example, the government should focus on locally made products, which will also help.

Is not about the government focusing on locally made products but the question is are they manufacturing them to their best standards? because basically, every average person in the country needs quality so if locally manufactured goods are not to the best standards then a need for imported products may still arise so the government should not only focus on locally made products but they should ensure they are made to the best standards and should make it affordable to consumers.
        High employment rates boost the economy of a country but it depends on the income of the employees because even if a country has high employment rates and the salary is little it won't make any sense because even locally made products are still on the increase now due to inflation so someone that earns little amount of money will still find it difficult to afford local goods.

For example, the government should focus on empowering those who are into the manufacturing of goods that are regularly used in the country to reduce the amount of importation they do in the country. If importation is reduced, there is a high possibility of the economy moving a bit forward, and those locally manufactured products can also be exported to other countries.

This is the area I feel the government has a very big work to do because there are individuals in the country that can produce things but since they don't have more resources to propagate the process results to the reason why they are being manufactured to inferior quality but if the government can assist such individuals either buy granting them loan or partnering with them to make sure that they produce those things to the best standards then they can be exported to other countries and it will boost the economy of the country where those products are manufactured.

[Ndabagi01]

*could the acceptance of cryptocurrency help stimulate a countries economy besides devaluation?

*What other ways can a country stimulate her economy without devaluing its currency?

Let's discuss!

Because of the many advantages that you can get from cryptocurrency, it doesn’t mean that it has become a safe haven to help develop the economy of a country or save it from devaluing its currency. Cryptocurrency should not be seen beyond what it can offer because it’ll definitely face some backlogs when attempting to do that and that’s where the enemies of it will have an excuse to discard its use more. When applicable to some certain things without causing an effect to it can be apply without further thought, but if its application is not clear enough, it should better not be attempted on in order not to spoil the good name it has all this years.

[kryptqnick]

A small scheduled annual devaluation is supposed to stimulate spending. When people know that the money they currently have will have less purchasing power in the future, they should make big purchases because it's better to make them now then in the future.
But there are other ways of stimulating economy, such as boosting manufacturing, issuing support systems for the most disadvantaged, etc.

[Gozie51]

*could the acceptance of cryptocurrency help stimulate a countries economy besides devaluation?

Cryptocurrency doesn't have much or anything to do with the economy especially if you are talking of government. Government see cryptocurrency as a threat to fiat where they can control it and manipulate you and everyone including manipulating the economy. Moreover, cryptocurrency wasn't build for the use of government or benefit to the government rather it purpose is for freedom for the people. It benefit will rather go for the people if you believe in it, accumulate, hodl and cash out for profit. So I don't think it relates to devaluation and moreover government don't estimate the economy using crypto, they either peg their economy with their local currency or US dollar.

*What other ways can a country stimulate her economy without devaluing its currency?

Let's discuss!

By proper and genuine planning, no corruption, use the money allocated for the particular project and not to embezzle it for private pocket, follow the budget allocation for all project and use money allocated to implement them, don't pad the budget, people in government need to be sincere with public funds. Sincerely embark on capital project and employment will go across the economy then their must be manufacturing and exportation will increase reserve after GDP growth from IGR.

[yhiaali3]

Countries resort to the decision to devalue their national currencies mainly in order to restore balance to their trade balances or at least to reduce the size of this deficit. Because devaluing the national currency leads to making the prices of imported goods more expensive for residents, which is assumed to limit the purchase of goods coming from abroad and encourages demand for national products.

But this does not always succeed because this depends on the extent of the ability of the national production machine to manufacture goods imported from abroad with similar quality and competitive prices, and replace them with national products. This requires resources and the national industry to be active.

As for your question about accepting the cryptocurrency helping to stimulate countries’ economies in addition to reducing the value of the currency, I do not think so because the cryptocurrency is merely an alternative to the national currency, and if the economy is suffering in the first place, switching the currency will not be helpful.

[Mate2237]

By the right with good government or president that has sense will not devalue his country currency to develop his country by the world Bank or IMF. If a country devalue his country currency then another country currency will have value in your country and your country currency can't buy anything and instead the dollar will be dominating and importation goods will be high for the citizens to buy.

Devaluation have not helped any country in the world but Africans countries are still very foolish to this believe that if they devalued their currency then there will be development because the advance countries will support them but that is a very big lie. America or British would never use their resources to come develop another country but your resources and once you devalue tour currency then you can't develop your country again because things would be more expensive to buy.  So adopting bitcoin will be a solution to this problem facing the third world countries.  Because bitcoin is equal in all the countries.