Post
Topic
Board Economics
Re: Can bitcoin have a positive effect towards a country facing recession
by
TheUltraElite
on 10/11/2022, 14:50:17 UTC
My region has been deep into economic instability and facing economic crisis in various aspects and I want to know if there is any way bitcoin or crypto currency can help resolve the problems and revive the economy? I know that  bitcoin  didn't  come to the world  to take over fiat currency but is there anyway bitcoin  can resolve it?
Sorry to hear about your regions bad conditions and I hope things get better gradually.

Bitcoin was created to counteract inflation and to bring the power back to the hands of the people instead of the banks. In case of a recession every commodity is going to be affected be it bitcoin or non-crypto. Because the people who are spending money to buy/sell them are also facing the same recession.

What you can do is cope with the current situation at hand, depending on where you live, it might be impossible to relocate, try to get a job or run a business from whatever you have at hand. Dont look at high risk investments at this point, thats suicide.