Can Bitcoin Help with Economic Problems?

[Jeet Narayan 1940]

These days governments looting us by taxes and vat. If bitcoin will legal after that no any governments will loot us by taxes. Bitcoin will also help to economy and it's create positive impact on our life.

[Yanadia 1517]

I think it's excessive if you want easy money and then ask for Bitcoin tax free. The problem is that Bitcoin technology runs on the basis of decentralization not to make us unproductive and easy thinking but instead Bitcoin goal is to make us more involved because we manage our own money.  Economic problems will be helped by crypto and it depends on its users

Edited January 4, 2020 by Yanadia
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[teminalibug 309]

11 minutes ago, Yanadia said:

I think it's excessive if you want easy money and then ask for Bitcoin tax free. The problem is that Bitcoin technology runs on the basis of decentralization not to make us unproductive and easy thinking but instead Bitcoin goal is to make us more involved because we manage our own money.  Economic problems will be helped by crypto and it depends on its users

As you say, in other words is bitcoin would help economic problems for the people, but not the country's economy.

[bliznec 22267]

3 hours ago, wilbertson said:

I know that, and with cryptocurrency it is easier to escape taxes that is why the government does not want cryptocurrency.

Yes, namely, cryptocurrency and blockchain are not subject to the government and taxes do not have to be paid. Bitcoin was created for this purpose. 

[Ms.o 3322]

Yes,bitcoin somehow can help the economic problem,coz one of the major economic problem that we are facing is financial crisis,so with the help of bitcoins,it opens more opportunity for everyone to make and earn money.

[Madhu Krishna Neupane 8]

many people don't know about bitcoin and think it as a fun thing but for some peoples it is a haven during financial strom.

[Naga 1250]

On 1/3/2020 at 9:44 AM, PiroSense said:

Tax free isn't good. Bitcoin isn't a holy savior of an ailing economy. Its problems with scalability and slow transaction validation times are not gonna help boost the economy.

 

And removing tax is just crippling the government. Taxes are there for a reason. It's to fund the government's programs for the people, and assure that there are law enforcement maintaining peace and order. Go completely tax-free, and you'll just demolish your own government, leading to chaos and people not following any rules and laws.

 

Tax may feel like a burden, but it's there for government to run smoothly and do its job.

well for me personally i have been trading bitcoin  for 3 years and have not been paying taxes at all for this whole time and i think i would keep doing it as long as the government doesnt accept bitcoin as payment.

[Brushless4500KV 4214]

I think bitcoin can be a proper solution for the economy of developing countries. They can do business with bitcoin and import foreign currencies into their countries by converting bitcoin to USD and Euro. Bitcoin can facilitate international money transfer and help to improve weak monetary systems. Third world people can earn bitcoin or invest in it to increase their incomes.

[Sohel Rana 406]

I don’t think bitcoin help with  economic problems. Now many country not accept bitcoin and others cryptocurrency. 

I think bitcoin give easy payment system like blockchain technology. 

But now world economic problem are very difficult.              

[febriyana 934]

I think that is depend on what economic problem need to solve. Bitcoin is already proven itself as the problem solver in many economic crisis. For example like Venezuela, now that country have high inflation. The inflation is more than 100% everyday, so sure the Venezuela fiat money is useless. So some people is prefer choose Bitcoin as transaction. Also other altcoin can try to solve the problem, like PundiX is project to help retail using cryptocurrency.

[Upright 2688]

On 1/3/2020 at 7:44 AM, PiroSense said:

Tax free isn't good. Bitcoin isn't a holy savior of an ailing economy. Its problems with scalability and slow transaction validation times are not gonna help boost the economy.

 

And removing tax is just crippling the government. Taxes are there for a reason. It's to fund the government's programs for the people, and assure that there are law enforcement maintaining peace and order. Go completely tax-free, and you'll just demolish your own government, leading to chaos and people not following any rules and laws.

 

Tax may feel like a burden, but it's there for government to run smoothly and do its job.

True, that's why most government, doesn't really accept the adoption of bitcoin, so easily.

Since tax revenues will see significant decrease

[patitaycute 648]

The tax free of Bitcoin and cryptocurrency helps those people who wants to earn money for least span of time but it was not good for the government since the economy are dependable to the tax of the people. 

[Hatred 1388]

On 1/3/2020 at 5:55 PM, CryptoMaxim said:

I think if bitcoin and cryptocurrencies are officially accepted in any state it will have a positive impact on the economy

Not really. There are still countries that does not accept bitcoin or any other cryptocurrency in their economy. But there are also many countries that are accepting crypto. And thats the good part of it.

[Sohel Rana Sazzad 453]

You can earn a lot of profit by working in crypto currency and this can change your economic  problems. And you don't need too much effort and time for that.

[Sid 589]

Maybe it can help a little on economic problems. Because with the advent of cryptocurrency many online jobs exist and are easier to do 😅

[Opinder 1310]

Bitcoin required lots of knowledge and investment to earn money. Also due to high volatility it is too much risky and poor people can not bear that much risks. So they will avoid it. Also it is tax free and government can not generate funds from it. And due to low funds government can not generate employment opportunities for poor. 

[Sid 589]

1 minute ago, wilbertson said:

I have not seen much online jobs, other than cryptocurrency trading, so i can not say there are any jobs in cryptocurrency right now.

In my opinion besides trading there are various kinds of bounties and airdrops that have emerged, new services such as making signatures, ad banners etc. You can also more easily offer skills such as coding and design throughout the world because of the ease of transactions with crypto. 😅

[MD SADIR HOSSAIN MRIDA 95]

Why not Mister ! Do you know  user of bitcoin increase day by day. Many payment gateway  run by  bitcoin. Many trade and investor earn money by using bitcoin. Many people it use first     profession.

[Sid 589]

6 minutes ago, wilbertson said:

But those are more of an offering than a job, they are nit permanent solutions to earn.

The important point of this is that with cryptocurrency the opportunity to make money on the internet is greater because of the ease of transacting between countries. So at least crypto has an effect on economic matters 😊

[Syed Rehan 231]

On 1/3/2020 at 11:56 AM, IMH said:

Yes Bitcoin can help and solve economic problem because it is easy to transaction there no interference of banking activities and it do not allow text charge while Bitcoin transaction and little amount of money is save.

But i think that if the government of the country make the budget in the crypto currency and if the rate of the bitcoin goes down then the government  get the loss economically. So, if the country holds a large amount of crypto then it impacts on the economics of the country

[Shahud 1319]

only bitcoin alone can't help a country to redolve thr issues of economy.all crypto currencies together can do it..because a country having very huge population more than the bitcoin volume..so every country should come forward in the crypto market and make it legalised in their country region

[Zentoly 419]

1 minute ago, bunulama930 said:

If bitcoin or any other legal cryptocurrency use in right way than yes it can help a country to gain more economy plus it will help the country for giving a employement to the people  so crypto has many uses if it use in right line

Yeah and bitcoin is giving us a lot of opportunities and we can easily decrease the rate of unemployment thought bitcoin.

[Oxygen 1004]

On 1/3/2020 at 11:05 AM, Afrizal rahman said:

Digital technology helps change one's life and the presence of Bitcoin has shown a new era in this advanced technology world.  Today many people are familiar with Bitcoin, although only a few countries accept it.  We need to know that Bitcoin is an electronic money made in 2009 by Satoshi Nakamoto.  The name is also associated with open source software that he designed, and also uses peer-to-peer networks without centralized storage or a single administrator where the United States Treasury calls bitcoin a decentralized currency.  Is the presence of Bitcoin can help people who are below the poverty line, because many people say that Bitcoin is a way to make money easily and tax free for its users.

Definitely bitcoin change someone's life. actually all of us have get a major change in our life through bitcoin. we have to accept it. 

[Sahbana 212]

Bitcoin can help the economic problems of poor families, as long as the family can use bitcoin by trading or working on paid bitcoin projects.

[Pearls Before Swine 815]

Bitcoin is *not* a way to make money; it's money.  And most of OP's post was completely unrelated to the question he asked, which is annoying.

 

Bitcoin isn't going to save poor people or 3rd world countries or starving orphans or anything else like that.  It's not going to change the world.  No form of money in and of itself is able to do that, because the problems that cause poverty and whatever else are usually political problems.