Could Bitcoin harm the economy of some countries?

[zagzagi]

It may affect the economies of developed countries differently. The situation will be different for developing countries' economies. Because it will take many years for all crypto money, especially Bitcoin (BTC), to have a wide and widespread use.

 

[BrolySSJ]

Do you think Bitcoin can harm the economy of some countries and how ?

I don't think that it will harm the economy. In fact i think that if it is used in conjunction with the fiat currency, the addition of bitcoin and other crypto could actually help to grow the econ0omy and encourage more international relationships with countries that are in support of crypto. The only way i could see this being a negative thing is if there is criminal activity that is being funded by crypto, which could harm the economy, or if corruption takes place in higher officials with this currency, which will also harm the economy.

 

[Nurudeen]

Bitcoin can never harm the economy of any country. Instead of harming it, it's just going to bring a healthy competition to it and ensure the economy keeps getting stronger every year. If a government know how Bitcoin works, they will embrace it ASAP.

 

[Tienda]

I think yes is possible Bitcoin will harm the economy of countries. But just countries where it is not adopted, if a such country adopted it and exigent the cryptocurrency users paying their tax. I don't see how it will harm economy country, will help to gain some extra income.

 

[Sotherefore]

Bitcoin is a cryptocurrency that involve every countries of the world i don't see how possible it will affect some countries of the world,if it affects some country in the world then obviously it going to affect all country of the world, or if you think there is a reason bitcoin is going to affect some countries of the world mention it here let us measure it in our own subjective scale to see if this might really be the truth.

 

[Vladv26]

Maybe if it's mass adopted but that would be a hard thing to happen. And be sure that governments would never allow that and they would start taxing bigger on bitcoin in order to stop people from using it

 

[Success05]

Do you think Bitcoin can harm the economy of some countries and how ?

Well I don't think Bitcoin can harm any nation's economy rather it'll help to boost security in dealing with transfer of large funds.

 

[tuna89]

To an extent it has few disadvantages, some corrupt politicians no more convert stolen money to dollars, they now prefer to convert to btc since transactions may not be perfectly traceable. This is becoming a norm in some corrupt areas.

 

[Patrik]

if people use it mainly for shopping and ignore the usage of their own country, then that would be for sure, if people stop using a specific currency, its value will drop, which is not good for the whole country's economy

 

[BrolySSJ]

I think yes is possible Bitcoin will harm the economy of countries. But just countries where it is not adopted, if a such country adopted it and exigent the cryptocurrency users paying their tax. I don't see how it will harm economy country, will help to gain some extra income.

How do you think that bitcoin can be doing harm to economies? Perhaps if people use it as a means by which to evade the tax payment sand so forth of that nature then it will not benefit the government and it will not show any development in the country as well, but I think that the fact that it is out there will promote employment options even for those that are not working now in terms of trading and earning online. This is a good thing.

 

[Abdulmumeen]

Of course it can be harmful to the economy. Bitcoin can be used illegally and legally , we always make anonmouys trasaction which means we can not trace them or reach that person who is using it so criminals can use it in order to prevent the poilce and banks

 

[Henrywrites]

I don't think that Bitcoin will affect the economy of any country in a negative way. To me, I see the emergence of Bitcoin as what many countries have used to get better. Just look at countries such as USA, Japan and the rest, they trade Bitcoins and it has helped the economy to carry out certain transactions.

 

[Ltherman]

When bitcoin and crypto can exist comfortably and conveniently side by side with fiat currency, there is absolutely no harm it can cause to a nations economy. Both can exist to bolster transactions in their respective domain.

 

[Josemendez]

I don't think so . Bitcoin will actually help to boost the economy of most countries as it will serve as a source of earning to most citizens . In my country ,many youths who have lost hope in life have gotten back hope through Bitcoin.

 

[Dowenship]

Do you think Bitcoin can harm the economy of some countries and how ?

This not the matter of thinking...... It as affect some economy so big It left a very big space to their local currency and its not helping them.. The average citizen of the country can't even afford 0.001 bit coin because the value of bit coin keeps increasing.

 

[Setfragil]

Yes bitcoin can accept the economy of some countries. If more people adopt bitcoin as means of payments of goods and services neglecting the fiat currency of the country it can render it useless and worthless in value.

 

[Justin]

I am not an expert on finance but I do not see bitcoin or any other crypto currency harming the economy of any country. In fact crypto currency will be helpful to the economy because it provides earning opportunities.

 

[Senator]

I see no explanation on how This Bitcoin or any cryptocurrency at all could harm the economy if any country. Instead I see it improving the economies of countries

 

[Shigobad2020]

Do you think Bitcoin can harm the economy of some countries and how ?

The answer is definitely a yes, bitcoin will definitely harm the economy of most of the countries because most country will not be able to control the tax anymore And it not possible to be collecting tax on bitcoin user.

 

[Alexandoy]

Bitcoin is a commodity. When many traders are buying then the price will go up. When many traders are selling then the price tends to go down. What has Bitcoin got to do with the government? Bitcoin is not legit and not legal. The government can easily issue a law to arrest users of Bitcoin. That means the government can harm Bitcoin and not the other way around.