Post
Topic
Board Economics
Re: Can bitcoin have a positive effect towards a country facing recession
by
South Park
on 11/11/2022, 22:10:33 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?
Can bitcoin have a positive effect? Yes, will that effect be significant? This is unlikely, unless bitcoin is widely adopted on the country in which you live the effect of bitcoin will be minimal, however for the few fortunate people which have bitcoin then it could have important benefits but only if they can keep holding their bitcoin until the next bull run, something which will be difficult to do for most people as they have to pay for their needs, utilities and debts.