Quote from: Minor Miner on February 25, 2025, 02:43:34 PM

Quote from: 348Judah on February 25, 2025, 11:28:45 AM

. Bitcoin can help improve on any challenging economy of a country, only if the leaders and the people will all work towards a common goal to acheive what bitcoin has to offer, but most of our leaders may not allow for this.

But how will bitcoin help improve a country's economy? What role will Bitcoin play in a country's economy to impact their economy? Like El-Salvador, they have accepted bitcoin as legal tender and what problem has bitcoin solved for their economy when their problem is crime, lack of jobs...? Does Bitcoin create jobs or help them crack down on crime? If bitcoin can save the El-Salvador economy, why should they accept the deal with the IMF and borrow money from them?

Many individuals, organizations...have been able to improve their economic situation through bitcoin but when it comes to a country's economy, this is a different and much bigger issue. And to improve the country's economy, we need to find out the causes and appropriate solutions. We cannot rely on one highly volatile asset class, and pump or dump at any time, to improve the national economy.

Honestly, I am sure that it has helped them a bit, because their investment grew, they got in at a lower price, now have more money, that's a benefit isn't it? Secondly, it "can" create jobs, depending on which nation we are talking about. Of course El Salvador wasn't seen as prime location, but if it was, every big crypto company would open their headquarters there, and hire people to work there instead.

But, El Salvador wasn't big enough or good enough to attract companies like that. At the end of the day, if USA makes it legal tender one day, which isn't impossible if you ask me, could happen in the future, then we could see a lot more stuff changing and then it could help a lot of people without a doubt.