Post
Topic
Board Economics
Re: bitcoin in developing countries
by
nightways
on 07/08/2018, 07:03:08 UTC
People are scared that rising inflation will replace electronic money. But I think that only happens when that country actually has the cryptocurrency industry developed. Let the government pay more attention to Bitcoin and make more efforts to bring about the positive aspects that Bitcoin offers.
In an article published by a university, I read about the ill effects of crypto currency and its ability of giving rise to inflation while the government being unable to control inflation because of impotent tolls of fiscal and monetary policies. But Bitcoin in developing countries has high marginal benefits and people still invest in Bitcoin for that reason because of the lower demand for Bitcoin in such countries. It can help solve many problems in developing countries like enabling people to earn money by investing in Bitcoin and there is no restriction how much you want to invest. You can invest any amount of money. So Bitcoin plays good role in developing countries.