Quote from: timerland on August 22, 2018, 09:30:54 PM

Quote from: DeimunHailstrom on August 16, 2018, 11:42:44 PM

Although bitcoin is not that an "official" currency yet, one can say that a country having most of its citizen engaged with a trending, highly-anticipated financial support that should help the country's economic and trading aspect to boom and improve.

We say this, thought of this, but in reality it is hard to imagine how can bitcoins fuel and power up a country and its economical stabilization with almost all of its citizen engaged with it? First of all, it is not an official currency which will give problems regarding to the trading and cycle of currency within a country. And lastly, the management and utilization of it is also a problem.

So, how can we say that the bitcoins are a support to a country and its economy? Is it even possible? How will that happen?

I think that bitcoin may not be as useful to countries in which the economy is currently stable, compared to the countries which are currently experiencing an inflationary crisis of some sort, such as Turkey and Venezuela at the moment.

Bitcoin as an independent currency is not subject to any government debasement of the money supply, and thus, is able to retain its value much better than these national currencies.

I doubt that it would be able to "improve" the economy of a developed, stable economy per se on a macro scale, but bitcoin is certainly able to help out individuals in each economy on a micro scale, whether with storing of value, hedging against inflation, or international transactions.

Ok, I understand your point. So this meant bitcoins are only capable of helping individuals but not the nation itself? Thank you for your opinion!