How is Bitcoin changing the economy?

[fikrett]

Bitcoin plays a significant role in changing the economy of a country as well as the economic changes of a family. If I had to say it clearly, I would like to share the story of my family. The number of earning members in my family is very small and everyone is more or less involved in studies and if they are involved in studies, it is usually not possible to be involved in income. But because of my Bitcoin earnings, I am able to support my family as well as those who are studying. Before I got involved in Bitcoin, I had to face a very difficult situation in supporting my family, but now because of my involvement in Bitcoin income, the hardship that I used to face before has become much easier. That is, the economic condition of my family has changed a lot.

It's great to know that bitcoin has helped you improve your financial situation and enhance your family life. But is it correct to compare the economy of a country with the economy of a family or an organization, and consider them the same?
While to improve family economy, you just need to earn money and ensure the life of family members (5-10 members). But meanwhile, to improve the national economy, the government needs to improve and ensure the lives of hundreds of millions of people. How can you think that both are the same and can apply the same solution?


What role do you think bitcoin plays and how will it boost the national economy?

BTC can help both, but in different ways, because some retailers vs a whole big body like any gov is a completely different story.

And BTC wouldn't be the biggest method of doing something new or nice for the gov especially, because clearly, for them - it's a brand new way of things and how things - may - be done, and profit to be made.

[CryptoYar]

[...]

Your experience is great example of how Bitcoin  effects go beyond numbers and directly change family life. Your story perfectly shows key benefit of cryptocurrency that is mostly missed its ability to create new financial opportunities. For people like you who are balancing school with family responsibilities Bitcoin has provided way to make money that might not have been possible with traditional jobs. Fact is that you have been able to help your family with their financial struggles and support those who are studying is powerful example of good that digital money can do.
It means real power of Bitcoin is not just its technology but how it can help people and families find financial security and growth.

[Synchronice]

Bitcoin is not just a technology, it is also questioning the very structure of the economy. It will shape the global economy in the coming decades in a way that is unimaginable to us now. Bitcoin has created a completely new type of asset class, offering people an alternative to the stock market and real estate. In countries where inflation is still rampant, such as Venezuela or Argentina, Bitcoin has already established itself as an alternative currency for people.

In what way will it reshape the global economy? Not Bitcoin alone but cryptocurrencies in general, are a revolution in modern financial system but they are revolution in a tech way, they do not really change anything in terms of other things, like, if you want to beat the inflation, you have to print less money, work harder and more productively. If the population of the country doesn't do that, then there is no way Bitcoin is gonna change a thing for them.

[Ruttoshi]

Bitcoin doesn't changed any economy of any country, because theirs no country that their sources of economy is Bitcoin, so each country have what that trigger for economy increase, but is not a bitcoin, when we say bitcoin can be used as a source of economics reserve of a country I will agree with everyone who says so, but outlined that bitcoin can change the economy, it doesn't have cognitive fact to be believe, because different countries have what they invest on, as economy reserves that will render help for their economy boasts up

I agree with you. Only the government can improve the economy of the country and not bitcoin because bitcoin is a currency. Bitcoin will only change the financial status of anyone who adopts it and use it as a store of value overtime. Anyone receiving payment in bitcoin overseas from his job will only spend his bitcoin in his country and that little amount cannot turn the country economy around to flourish.

Let's forget about how bitcoin can change a country economy and focus on how we can use bitcoin to upgrade our standard of living by investing in bitcoin continuously and hodli for long. The government does not care about your progress, they only care about what they can get from you. They give you with one hand and take it back with the other hand through printing of money.

[FortuneFollower]

[...]

Your experience is great example of how Bitcoin  effects go beyond numbers and directly change family life. Your story perfectly shows key benefit of cryptocurrency that is mostly missed its ability to create new financial opportunities. For people like you who are balancing school with family responsibilities Bitcoin has provided way to make money that might not have been possible with traditional jobs. Fact is that you have been able to help your family with their financial struggles and support those who are studying is powerful example of good that digital money can do.
It means real power of Bitcoin is not just its technology but how it can help people and families find financial security and growth.

Simply put - BTC gives you freedom in different shapes and forms.

 

[Adams0001]

Bitcoin is for everyone and also making the poor to become financial freedom if they invest in it but the inequality in the individual economic structure is still remains the same. The rich are buying millions or billions at a time while the poor buys with a thousand (s). Bitcoin has the store of value because the demand is high and anyone that purchase a potion would like to hold it and not to release it at once and that another cause of that making the asset more valuable.

Best Time To invest.
And if anyone is interested to invest, this is the best time to key into the new trend. And let the person Keep it for like 5 to 10 years minimum. Though there some misconceptions that bitcoin will remove inflation but I don't think so because those who sell things will still increase to make profit. And I don't think bitcoin will reshape the world economy as someone has said in this thread.

You are right. To me, I even consider Bitcoin as an investment that someone can do at any time he wishes to do that. Bitcoin investment doesn’t have a specific time before investing in it; even if you have little money and wish to put it in Bitcoin investment, it’s advisable because leaving it in there for a long period of time, it will multiply over time.

Furthermore, using the DCA method, you can be investing gradually till it reaches your target and then do the necessary steps to keep it safe because that is what matters a lot in investment.

Some people always find it difficult to understand, they think they have specific time to invest in bitcoin. Anyone that have knowledge and experience about bitcoin will always have the confidence to invest at anytime when he have enough funds to risk. I can't says bitcoin is not for everyone because not everyone as the believe that is legit because some think is a scam project. If bitcoin is for everyone, that means everyone should have invested already without thinking negative about it. Bitcoin is gradually process Anyone that have interest to invest should always know that you can't become rich easily you need to invest for the long before you can probably achieve your goal on it. I believe bitcoin can give you freedom because know one will have access to your bitcoin when you invest it in your wallet anytime you wish to sell it, you can do so and enjoy the benefits. The more you invest with high capital that is how you will get huge profit anytime the price increases.

[free-bit.co.in]

Something similar has happened in my country, where Bitcoin has changed the economies of several individuals, both directly and indirectly. So I also believe that Bitcoin has great potential to contribute, especially to economic change. This also reminds me of the news about a taxi entrepreneur from El Salvador, who achieved economic success by Bitcoin and even succeed to expand his business, proving that he has successfully created opportunities for economic change for other people through Bitcoin, and fortunately for him, the government also supported him at the time, because of adopting Bitcoin as legal tender.

I hope this happens in my country, and yours too, so If it does happen, I am sure it will bring about major (positive) economic change.

For those of you who have forgotten or have never seen the news that I conveyed, here is one of the sources: Watcher.guru - Bitcoin Turns Taxi Driver Into Entrepreneur

I'm sure many other people in your country have also changed their lives or become rich through stocks, gold and real estate. So in your opinion, are they considered as factors contributing to national economic development?

Just because some people change their lives or become rich by investing in bitcoin, we rush to conclude that bitcoin is helping and can change the national economy. We should also acknowledge the merits and contributions from other investments and assets because bitcoin is not the only asset that can bring profits and help people improve their lives.

[melinoe]

I'm sure many other people in your country have also changed their lives or become rich through stocks, gold and real estate. So in your opinion, are they considered as factors contributing to national economic development?

Just because some people change their lives or become rich by investing in bitcoin, we rush to conclude that bitcoin is helping and can change the national economy. We should also acknowledge the merits and contributions from other investments and assets because bitcoin is not the only asset that can bring profits and help people improve their lives.

BTC is not the biggest thing to change some country's economy, imo, even a small country..It's a tool, not an outright solution.

[Bitcoin_people]

In the digital age, Bitcoin has gained the most popularity, mainly the younger generation is more interested in it, due to which Bitcoin is a very dependent currency to bring economic changes. Financially, Bitcoin can always help a person because Bitcoin is a store of value, it grows rapidly and gives everyone a good amount of profit. Moreover, we can already see that different countries are paying the most attention to Bitcoin and they are improving their financial position by investing in Bitcoin. Many countries and big companies are creating Bitcoin reserves just to gain their financial benefits, Bitcoin is an independent currency. So everyone invests in Bitcoin to gain financial benefits and it will help everyone more and more in the future, Bitcoin will become more popular.

[arhipova]

There are many who are using bitcoin to receive payments for their services. It is safer than alternatives like paypal for sellers. So, it is empowering them to sell services online.

[lionheart78]

One of the best things that the creation of Bitcoin to the economy is financial inclusion.  Before Bitcoin, there were lots of people who were unable to participate in the global economy due to the banks having a strict implementation on creating a bank account. One of which is the problems is with people who don't have a stable job, since the client is unable to provide a proper document on the source of income, and they failed to create a bank account, which was the sole option to enter the global transaction before Bitcoin was created.

With the creation of Bitcoin, it has influenced the economy and other financial institutions. This revolution brings the era of e-wallets that are not dependent on banks alone. It influence the financial institution to not rely on the bank as the middleman of the transaction.

In addition, the blockchain technology encourages transparency in each transaction. This discourages corruption and fraud, which is rampant in financial institutions.  At the same time it gives users a sense of privacy because of Bitcoin's pseudo-anonymity.

[DanWalker]

I agree with you. Only the government can improve the economy of the country and not bitcoin because bitcoin is a currency. Bitcoin will only change the financial status of anyone who adopts it and use it as a store of value overtime. Anyone receiving payment in bitcoin overseas from his job will only spend his bitcoin in his country and that little amount cannot turn the country economy around to flourish.

Let's forget about how bitcoin can change a country economy and focus on how we can use bitcoin to upgrade our standard of living by investing in bitcoin continuously and hodli for long. The government does not care about your progress, they only care about what they can get from you. They give you with one hand and take it back with the other hand through printing of money.

Exactly, only the government can improve a country's economy through economic and monetary policies. No one or no financial instrument can do that and bitcoin is no exception.

A national economy can only improve when unemployment is low, inflation is low and people's lives are stable. Meanwhile, bitcoin cannot attract foreign investment, cannot directly contribute to production (create jobs), so how can it improve the national economy?

Bitcoin is simply a currency or an investment, which means it only has an impact on an individual and institutional scale, and whether they can change their financial situation through bitcoin depends on their knowledge. Getting rich from bitcoin is also a process, not just investing in bitcoin without knowledge, without a job but still being able to become rich.

[Y3shot]

There are a number of countries that have accepted Bitcoin, and some of these countries have developed a Bitcoin reserve. This is a form of saving and investment for the country. Just imagine if countries like this invest a good amount of Bitcoin and hold for a long time.

 The profit that will be made will be a significant advantage in one way or another. Bitcoin is a store of value that so many people depend on. The profit that is being made from Bitcoin investment is being used for different expenses related to the economy. This means Bitcoin is playing a good role in the economy; it may not be seen directly, but it has something to do with the economy that we might not even be aware of.

[betswift]

There are many who are using bitcoin to receive payments for their services. It is safer than alternatives like paypal for sellers. So, it is empowering them to sell services online.

Bitcoin is not limited to anyone and it can be used anywhere, that's the power of something that gives the most freedom 

[Collins5235]

Bitcoin is reshaping economies by introducing a decentralized, borderless alternative to traditional financial systems. In countries with unstable currencies or limited access to banking, Bitcoin offers a way to preserve value and conduct transactions without relying on central authorities.

[nemesis_incarnate]

Bitcoin is reshaping economies by introducing a decentralized, borderless alternative to traditional financial systems. In countries with unstable currencies or limited access to banking, Bitcoin offers a way to preserve value and conduct transactions without relying on central authorities.

Truly, it's true - but overall, everybody takes notice of BTC, usually not for the broader usage, but for hoarding it and keeping people who do so too on CEXes and such - watched for.

[B-BossMan]

Obviously bitcoin has transformed so many countries; it has helped the citizens of the country economically and the world at large by creating a new freedom or assets that bring challenges to so-called fiat structures and also provide an alternative to the stock market and real estate, particularly in countries you mentioned that are facing high inflation, like Venezuela and Argentina, in which it is already being used as an alternative currency. Its power to shape the global economy in one way or the other means it's better to be late than never; invest now for so long rather than regret it later.

When someone said 'peaceful investment', I vividly referred to Bitcoin, because there is no distraction from any government or any other authority over your funds.

[free-bit.co.in]

BTC is not the biggest thing to change some country's economy, imo, even a small country..It's a tool, not an outright solution.

Bitcoin cannot change the economy of any country in any way, even if it acts as a currency or an investment asset. Because the national economy is the set of activities of production, distribution and consumption of goods and services within the country. So to improve the economy, we need to improve all those factors, not just rely on one volatile asset and just speculate, and think that it can save the national economy.

If we only needed to rely on one asset and one investment to improve the economy, governments would have done it with gold and stocks long ago. Because they were also huge yielding assets before bitcoin came along.

[KiaKia]

Say the truth and let the devil be ashamed they say, I don't see any way that Bitcoin is changing the economy of my country, everyone want to buy and make money from the appreciating value of Bitcoin, that's all.

My country consist of vampires as leaders that are always ready to suck people of their money to the very end, so even if Bitcoin can change the state of economic growth in my country the leaders won't let it show.

I don't know about other people's country and how Bitcoin is helping them but in mine it's something else completely.

[justdimin]

Obviously bitcoin has transformed so many countries; it has helped the citizens of the country economically and the world at large by creating a new freedom or assets that bring challenges to so-called fiat structures and also provide an alternative to the stock market and real estate, particularly in countries you mentioned that are facing high inflation, like Venezuela and Argentina, in which it is already being used as an alternative currency. Its power to shape the global economy in one way or the other means it's better to be late than never; invest now for so long rather than regret it later.

When someone said 'peaceful investment', I vividly referred to Bitcoin, because there is no distraction from any government or any other authority over your funds.

While poorer nations end up with getting greater return so that is why we are seeing bitcoin getting popular a lot on those nations, the bigger ones like USA are not stopping neither, they are doing a great job. So, it should not be that easy to handle for the poorer nations to accept that bigger ones already started to take place. We are not going to end up being that much hurt as the citizens of poorer nations.

We live in cheap nations s owe are not facing issues and that should not be an issue at all. We need to just focus on how to get greater returns and when we work for rich nation people, we end up getting paid a lot more, and that is what we need, we need to do this and not worry about anything else at all.