Post
Topic
Board Economics
Re: Can bitcoin improve the economy of a country?
by
BartS
on 04/10/2017, 03:26:27 UTC
Bitcoin can not change the economy of the country. It's just money that you can pay off or earn it. To improve the economy, it is necessary to take action, and not to introduce a new currency.
A solid currency can in fact make a country or even the world more prosperous, when gold was used as the standard around the world we saw one of the biggest growth in investments in the world, because people know that their currency was stable, now that trade is based on the dollar and those dollar keep being printed as if they could print them forever governments are trying to get rid of their dollars as fast as possible.
As far as I know any country is limiting themeselves on printing more and more fiat currency as printing more may devalue or depreciate the fiat currency. It is really not a wise plan as the economy will fall from prices of commodities going up and the exchange rate going down your country will face a very bad recession. And the way how you think that Bitcoin will be the next gold in terms of investment I am hoping that it is true and it is now the time for us common people to become wealthy.
Exactly a currency that can be printed at will and that has no limit helps the government and those that are powerful and have connections with them, but it does not help anyone else, the people benefit by having a currency that cannot steal from them with the hidden tax of inflation, once we have money like that whether that is gold or bitcoin the prosperity of the world is going to go up.