Post
Topic
Board Economics
Re: Can Bitcoin really stabilize any country's economy level?
by
Stedsm
on 04/10/2018, 07:41:13 UTC
Firstly, I wish to apologize that I shouldn't have asked this for "Bitcoin" alone but instead using the word "Crypto" or " Cryptocurrencies" would have made a different impact on everyone's mind as the whole question changes.

Now, with respect to all the mixed emotions and mostly saying that Bitcoin alone wouldn't be able to deal with the economy of any country, here are a few things I've concluded and I wish to put as my own opinion:

- Even being decentralized, Bitcoin is the first ever cryptocurrency that was introduced early and was adopted by many countries before, till it started showing signs of too much volatility which made it look more as a tradable asset instead of a currency.

- As Bitcoin emerged to be the fastest growing and highest return giving digital token, many countries also started accepting it knowing the benefits of it that having it in big number could really benefit the wealth of their country and as wealth grows, so does economy.

- After crypto's existence emerged, there have been a variable amount of jobs available in different genres (areas) such as blockchain development, token creation, project (ICO) promotion and so on. This also helped many people live a great life as due to the volatility of BTC and other crypto, people held them and received great profits in return. Getting a job to an unemployed in crypto helped too many people work from the comfort of their home instead of being sucked up in those 9-to-5 jobs where you're required to give each drop of your blood to that job. This allowed everyone, the freedom to work and as well, spend most of their time with their family.

- Last one:
As Bitcoin is limited in number, I believe that countries which will have the most amount of Bitcoins once it gets completely mined, are going to reap the most better profits. Now, how would this not be helping the country to grow their GDP as well as how it won't support that country's economy? I know everything here is hypothetical and can't be assured, but I'm only taking the possible outcome that may be seen in the future once this mining is done.