Post
Topic
Board Economics
Re: important point
by
deisik
on 12/09/2018, 16:34:57 UTC
government that prohibits bitcoin in some countries. If the government can accept the existence of bitcoin there are some important points in it:
* can pay off the "debt" of the country
* Improve the economy of the people
* Decrease in poverty level
I want to know what you think.

Neither of your points would work out in reality

Before all, how is the government going to pay off its debts with Bitcoin exactly? And while we are at it, the debt is not always something uncompromisingly bad (or just bad, for that matter). It can be used as a leverage, for example, in the "game of thrones" (so-called real politik). Further, the only way Bitcoin in particular and cryptocurrencies in general can improve economy is when they become more efficient and effective than fiat. This is simply not possible as long as fiat is not misused or downright abused. Or did you really think that you could make the whole economy feel better by speculation alone?

The same with the poverty level. You can't decrease poverty through shuffling money here and there. Poverty is decreased via real economic growth but with Bitcoin it is not possible for the reasons described above, because it is ineffective and inefficient as money in real economy (and it is not only about transactions as such)