Quote from: Nellayar on July 18, 2019, 10:09:07 PM

Quote from: avikz on October 03, 2018, 09:12:59 PM

Quote from: Stedsm on October 03, 2018, 04:46:10 PM

As we all have been speaking many times that Bitcoin possesses the power to diminish the use of fiat in a country where it's welcomed with full hearts, I wish to know that does it really have the ability to cope up with the challenges a country's economy faces? Can it help in the growth of their GDP?

As we know, Bitcoin is limited in number whereas Federal Reserve has the power to do monetary easing when things go wild with their economy levels. So with such limitations, can Bitcoin really stabilize any country's economic issues?

The answe is simple, NO! Bitcoin is not a magic wand who would accomplish such huge tasks like stabilizing the GDP of a country or eradicate poverty from the face of the earth!

Also bitcoin doesn't have the power to replace the fiat system either!! It has just shown a way to do that in an affective and transparent manner! To replace the fiat system, the respective countries will have to come up with their own cryptos running on their own blockchain!

It would never been a solution in order to raise up the country for its recession level. The stability of the country never been achieved using bitcoin. BTC is volatile and anytime, fluctuation might happen. Though there are chance for it to grow up, there is also tendency for the economy to suffer depression.

Stability of the country's economy relies much on the policies. The economy level goes unstable when the funding is concentrated over a specific sector and the rest were left behind without proper consideration. For example if a country's wealth rely on agriculture, then it needs to be supported good. When this is done in the opposite way of making corporates to take control of the agriculture sector the country's economy won't get boosted, but the corporate economy grows diminishing the growth of common people. This way collapse the stability, as most of the country has its economy from the low bottom people and the small scale firms.