The increased need of Bitcoin in struggling economies

[avp2306]

The importance of Bitcoin is emerging in an era where it is needed more than ever. It has a key role to in various economies. Some countries battling persistent inflation, boom! Bitcoin helps, furthermore, some countries need more of digital payments, what softens that need? Bitcoin, thirdly, some infant economies experience currency instability, here again Bitcoin to the rescue. Getting to know the inner workings of this rescuer can't be overemphasized!

Can't blame those country that will explore on other things that can offer them possible good changes on their economy since Bitcoin is perfect good asset addition to have since it offer lots of things especially if they do well regarding on their adoption and how they use this coin.

But they should fix the corruption and bad system on their country since if that activities still happening there's close to nothing will happen even if they adapt Bitcoin since those corrupt politician will take advantage and provably continue to do their evil deeds.

I really do hope that lots of countries would success on Bitcoin.

[Faisal2202]

The importance of Bitcoin is emerging in an era where it is needed more than ever. It has a key role to in various economies. Some countries battling persistent inflation, boom! Bitcoin helps, furthermore, some countries need more of digital payments, what softens that need? Bitcoin, thirdly, some infant economies experience currency instability, here again Bitcoin to the rescue. Getting to know the inner workings of this rescuer can't be overemphasized!

Bitcoin is a good hedge against inflation and it is really helping some countries to grow their economies but the condition is they must have acquired it in low prices not like El Salvadar when they bought BTC the first time it was above $45k and that time the ATH was above $50k I thin it was $59k and then BTC dropped and El Salvador Economy stuggled till the next bull run but now they are doing good and they even introduced their Bitcoin bank which is the world's first Bitcoin bank.

Speaking of digital payments, I don't think it is that adopted because there is no doubt that many big companies have integrated BTC as their payment system but most of the clients/customers are still using fiat over BTC to purchase things. But alternative option is always good because a time will come of course when these customers have to move to BTC payment method and I am not saying people don't make deals in Bitcoin but the quantity is very low but with time and with lower fee it can increase over time.

[tabas]

Let us not over glorify Bitcoin as if it's the help and the savior of each country's economy. While it helps somehow but if we look at the entire economy of each country, it only serves a little contribution for the most of them. As for personal economy, the individuals, it is a great help to each of us and by that way we help ourselves first and then the economy of the country. So for Bitcoin to thrive in struggling economies, the leaders have to understand how it works but it won't just snap out the poverty and economic problem on an instant just because they support and adopt it.

Bitcoin does not have any missions to help or rescue economy of any country, it's mission and responsibility of their governments and citizens.

If they want to invest national money in Bitcoin, they are free to do it and Bitcoin market welcome them but it's freedom and choice can be made without any pressure or command from Bitcoin. Economy of a nation is bigger than a national Bitcoin investment and Bitcoin can enrich a national treasury but can not help its national economy that is bigger than a portfolio.

The duty of the government is to make sure that its funds for the citizens and projects should be spent wisely. Therefore, if they have decided to make some national reserve for BTC, it is a good first step and they are on the right path. Although it doesn't have to start big, a small portion of it will suffice the opportunity for them not to missed.

El Salvador and Bhutan can be examples of national investments in Bitcoin but they are not examples of how Bitcoin changes a national economy.
https://intel.arkm.com/explorer/entity/el-salvador
https://intel.arkm.com/explorer/entity/druk-holding-investments

These two countries are doing a good job and they both in profit already. As for the US, they've got a lot of holdings as well from seizure, and they plan to have more. So, we'd see who will be the countries that holds the most soon and many of the bagholders in the financial industry are from there too.

[purple_sparkles]

Bitcoin could become a lifeline for the economies of many countries whose national currencies are losing value. However, the cyclical nature of Bitcoin’s rises and falls cannot be ignored, as the gap between its peak and bottom is too significant. This would require organizing the work of government traders with strong knowledge and experience to maintain the stable value of all state assets.

[Ishicryptic]

The importance of Bitcoin is emerging in an era where it is needed more than ever. It has a key role to in various economies. Some countries battling persistent inflation, boom! Bitcoin helps, furthermore, some countries need more of digital payments, what softens that need? Bitcoin, thirdly, some infant economies experience currency instability, here again Bitcoin to the rescue. Getting to know the inner workings of this rescuer can't be overemphasized!

I am tempted to ask the same question as others for you to give example of a struggling economy that Bitcoin has practically stabilized, you could sight El Salvador, but clearly their economy is not stabilized as far as I know, their Bitcoin can only give them profits. Bitcoin is a hedge against inflation and it is a store of value for anyone who holds it, it doesn't have a magic to turnaround an economy that is mismanaged. Bitcoin is a profitable asset and if you hold for a long term it will continue to add value for you, it doesn't structure how you manage your personal funds or how a government manages it's economy.

[KiaKia]

The importance of Bitcoin is emerging in an era where it is needed more than ever. It has a key role to in various economies. Some countries battling persistent inflation, boom! Bitcoin helps, furthermore, some countries need more of digital payments, what softens that need? Bitcoin, thirdly, some infant economies experience currency instability, here again Bitcoin to the rescue. Getting to know the inner workings of this rescuer can't be overemphasized!

Some countries battling persistent inflation? Are you sure? If the biggest countries with the best resources are battling inflation how much more the others? Every country use Fiat as their local currency and everyone Fiat is battling inflation, sorry to say it this way, inflation in one country is worse than the other.

Digital payment is the least of the importance of Bitcoin, it's not that important because something else already filled that gap, debitcard and credit cards, we have virtual cards today and PayPal, you only have to link with your bank account and that's it but I am not shading the idea completely off because I wish i can settle payment with Bitcoin too.

It's not a must, it's not something I can't live without, if it's important I bet that Trump will make this happen first rather than chasing other goals, I feel that the valuable part of Bitcoin is what makes the difference.

[Swordsoffreedom]

Bitcoin could become a lifeline for the economies of many countries whose national currencies are losing value. However, the cyclical nature of Bitcoin’s rises and falls cannot be ignored, as the gap between its peak and bottom is too significant. This would require organizing the work of government traders with strong knowledge and experience to maintain the stable value of all state assets.

The value of a country's currency depends on the health of its economy, if that economy is run by a weak and corrupt government. Bitcoin cannot save that country's economy.


A national economy is made up of many factors such as natural resources, human resources, capital, technology and hundreds of other things. Therefore, improving a country's economy requires strong reforms from within the government to domestic and foreign economic policies. We cannot bet the future of the economy on any asset, including bitcoin.


The economy of a country is completely different from the economy of an individual and organization, we cannot use the financial solutions of an individual for the economy of a country.

[Marvelockg]

thirdly, some infant economies experience currency instability, here again Bitcoin to the rescue. Getting to know the inner workings of this rescuer can't be overemphasized!

the issue with currency instability is part of the reason why bitcoin has expanded greatly because most nations that are affected by this resort to getting bitcoin as a solution to the currency devaluation they face. it is just like the increasing quest for digital skills. the reason why it looks like a big deal is because with it, you stand the chance of working for companies that pays in currencies that are far stronger than yours which gives more meaning to what you are receiving as your pay. bitcoin is even a better alternative to most of the available payment plan because with it, you are at least sure that your your holdings is increasing greatly for as much as you choose to hold it.

but bitcoin alone cannot completely revamp a struggling economy if they do not look into other sectors that are kind of viable enough to cause a sustainable growth in an economy strength. a combination of different factors in addition to the usage of bitcoin either as an edge against inflation or as a means of overcoming the lost in the value of a nations currency are all going to play a combined effort in bringing back a struggling economy back to her feet.

[Distinctin]

In countries where financial stability and financial freedom are hard to achieve, bitcoin may have seen growing roots in it, which means people find the perfect solution with bitcoin. Aside that it can be a hedge against inflation, although not actually a safe haven, it can also be a potential and profitable investment to help achieve financial security and stability in the future, or when retirement comes.

However, it takes real knowledge and discipline in order to be successful with bitcoin. This isn’t just as an easy investment, but it also comes with risk and pressure that if you don’t know how to manage, it’s better not to enter bitcoin investment.

[WatChe]

I am tempted to ask the same question as others for you to give example of a struggling economy that Bitcoin has practically stabilized, you could sight El Salvador, but clearly their economy is not stabilized as far as I know, their Bitcoin can only give them profits. Bitcoin is a hedge against inflation and it is a store of value for anyone who holds it, it doesn't have a magic to turnaround an economy that is mismanaged. Bitcoin is a profitable asset and if you hold for a long term it will continue to add value for you, it doesn't structure how you manage your personal funds or how a government manages it's economy.

Bitcoin is certainly not created for such purpose nor its aim is to replace fiat financial system. I see too much posts regarding adoption of Bitcoin by El Salvador but I haven't seen anything positive outcome of this move. El Salvador congress recently allowed president Nayib Bukele to remain president for indefinite period and this will create political instability in the country, how can Bitcoin help in this situation?

To economy of country depends on many factors like it's import to export ratio, political stability, Industrialisation and more. Bitcoin will be of little use to improve economy of a country, it has it's own aim and objectives.

[tottong]

In countries where financial stability and financial freedom are hard to achieve, bitcoin may have seen growing roots in it, which means people find the perfect solution with bitcoin. Aside that it can be a hedge against inflation, although not actually a safe haven, it can also be a potential and profitable investment to help achieve financial security and stability in the future, or when retirement comes.

However, it takes real knowledge and discipline in order to be successful with bitcoin. This isn’t just as an easy investment, but it also comes with risk and pressure that if you don’t know how to manage, it’s better not to enter bitcoin investment.

In the case of individual investment it may be true because the presence of Bitcoin provides space for all people in achieving financial freedom and the use of investment that is carried out correctly will have an impact on hedge.
Has always been a potential target in Bitcoin investment because since it was launched until now there are many advantages given, some bad events that befall the economy globally provide an overview of investment in Bitcoin so that many people begin to consider it now.

When coming to investment we may realize the risks that will occur, but how the risk can be minimized well because almost many things related to money have different levels of risk.
The risk will be quite comparable to the results if someone is able to live well, especially if investment involves correct knowledge.