Post
Topic
Board Economics
Re: Bitcoin - Can it boost or break a countries economy?
by
Janation
on 22/03/2019, 01:20:12 UTC
It depends of what country it is. Like in venezuel, bitcoin saves their country from economic collapse due to hyperinflation rate. since their official currency depreciates its value, people there have using bitcoin as alternative currency!
indeed not all countries can use bitcoin as a financial alternative to make transactions because there are still some countries that do not provide support and legality for using bitcoin.

I think not all of the countries can support it nor legalize it.

The minds of the government of different countries are different from each other. Some want to legalize Bitcoin, they have their reasons and a lot of people are happy with that. But some don't want to do anything with Bitcoin, they also have their reasons and I know a lot of people in their country are disappointed with that but we just need to respect their decisions. It is not that it can't break a country's economy, it's just that they maybe are afraid of the decentralization and anonymity of Bitcoin and other cryptocurrencies.