Quote from: Walked_by on October 05, 2017, 08:57:24 PM

Quote from: deisik on October 05, 2017, 05:47:58 PM

Quote from: Harlot on October 04, 2017, 10:49:36 PM

Quote from: deisik on October 04, 2017, 05:59:05 PM

Quote from: BartS on October 04, 2017, 03:26:27 AM

Quote from: Harlot on September 28, 2017, 11:24:27 PM

Quote from: BartS on September 28, 2017, 08:05:00 PM

Quote from: Wintorez on September 24, 2017, 09:14:19 AM

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

If it were so, we would still be on gold now

But we ain't, and it is not someone's whimsy. You are certainly correct that printing excessive amounts of fiat helps government and those powerful people to become wealthier while making ordinary people poorer. But this is a heavy abuse of the power of fiat money. Fiat money has an advantage before gold (and cryptocurrencies, for that matter) in that it can be created as well as destroyed according to the requirements and needs of the economy. This is not the case with Bitcoin and the rest of the pack

The short term effect of printing more Fiat currency is good but like what I said it is on a short term which means it is only temporary. By printing more Fiat currency in your country you are only devaluing it as you are causing an over-supply of your own Fiat currency even if the demand is not going up. Printing Fiat currency won't be a solution for a country who has a right mind, even United States are not printing more U.S. Dollars to pay of their debt. But the different thing about Bitcoin is that when someone receives Bitcoin as a source of income in your country it actually becomes part of an improvement for your country

I was talking about printing excessive amounts of fiat which is certainly bad

And which I made clear right at the beginning of my post. In fact, in the modern fiat system the government of a country or its central bank doesn't need to print anything at all. Just like I said, money can be created and destroyed as required by the economy itself. If the economy expands, banks loan out more money, and thus more money is created. Conversely, when the economy shrinks, more loans are paid paid back (or written off in case of the borrower's default), so the amount of money in the economy diminishes. That's why the modern fiat money is called credit money since it's created and destroyed via bank credit

yes it is not to difficult for bitcoins to improve the economy of the entire country because the price of each bitcoin is much more then gold so if each person of a country started using bitcoins than within one month you will see changes in the economy of country.

I agree with you but i don't think it will be in one month i would guess it would take 1 year to improve the whole country and not only the citizens need to use it but also the government this way the economy will be doubled it may even go triple the situation it has now.