Post
Topic
Board Bitcoin Discussion
Re: Bitcoin could destroy economy
by
texgeek
on 15/11/2020, 22:31:27 UTC

If fiat currency will be transfer outside the country through bitcoin then it is just like we are selling our asset to other people and that may leave that the countries economy will slowly will going to die. I think this is why the reason that government are requiring known exchanges to do KYC so that they can tract people who are doing this. Besides there are other things that bitcoin could be
getting abuse by the criminals like

* funding terrorist,
* money laundering,
*kidnap for ransom using bitcoin, and etc,

Other than that bitcoin is considered as an asset why?Because Bitcoin is being bought by fiat currency which derive its value like gold. The sad part that I am making some point in my other posts is that

* when you buy bitcoin cheap you earn, while others buy bitcoin which is expensive they lose.
* The rich people could earn more in investing bitcoin while poor people could lose more. (vice versa the rich people may lose more and poor people can earn more)
* the use of bitcoin to travel spending outside in the country is more like selling your country asset and that could destroy the economy of that certain country.

[/b]


BITCOIN, will save Economy!

Criminal things always will be a problem on the society, with bitcoin or without bitcoin. BTC is not a criminal coin, or something like that.. Bitcoin is a "your personal bank", is a your "personal coin", you dont need government or etc, to have some monetary value on your hands,  just a node on a little island running , is enouth to validate yours transactions.

The concept of Blockchain and BTC is bigger than this little details...

To remember, Guns, Drugs, and others things inside the society, is paid with real money , USD, EUR, ... Etc. This stable real coins can detroy economy ? ?

Wink