I do not think that the use of bitcoin will somehow affect the economy, because it is just a currency. The economy is primarily affected by investments and commodity circulation.
If you start using bitcoins and investing them in the country's infrastructure, then this can lead to very positive consequences.
All financial transactions should also be carried out in bitcoin, so you can switch to cryptocurrency and untie it from pricing in the context of fiat.
A currency is a medium of exchange and the way to try to answer the question about the value of each thing, so it is obvious cryptocurrencies are going to have a huge effect on the economy especially if fiat currencies begin to show their flaws and people lose their faith in them, I really think that cryptocurrencies are going to have a positive effect on the economy at large but we will need decades to see that effect on full force.
In many countries, leadership and governments very often harm the economy and development of their state. One of the facts of such a mediocre leadership of the country is frequent inflation due to an increase in the amount of paper money. The government is printing new money, but does not care about the gold reserve, which should support this money. If the cryptocurrency is used as cash, then this problem should disappear by itself, since for example Bitcoin has a limited amount.
I totally agree with this one because come to think of it if everyone is using cryptocurrency on their every transaction. It has a big effect not only on the economy but on the community also because the more we use it the more people will know about cryptocurrency and if that is continuously happening, there is a big possibility that we can gain investors to support every project on the community. There are lots of benefits when you use cryptocurrency the primary one is that it will make your transaction easier and faster than making a transaction with fiat. It is also less hassle because you can transact anywhere in the world as long as you have an internet connection.
I think that because the issuance of cryptocurrency is limited, the credit economy will not be able to get money "out of thin air". This means that the economy will develop at times slower and deflationary, which will stop people from buying goods every day
When there's lot of people already earning with an investment involving cryptocurrency. Just think that they will have a money to spend, more spending more taxes the government can get, and my opinion is that it can really help the economy. The taxes I'm saying is not on the bank but to their financial expenses already.