Bitcoin Garden Forum
Cryptocurrencies => Crypto Discussion => Topic started by: bdsharminsoltana on October 16, 2018, 08:43:30 AM
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Today many countries accept bitcoin as a virtual currency, is it because bitcoin is so high that they think bitcoin can change the country's economy, or because the country has many bitcoin users already?
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It actually depends on the place you are at. Many countries has band Bitcoin in the country and their government does not want to see anyone using it. People already know that bitcoin has a lot of potential so we call it the best long term investment in our generation. Bitcoin offers a lot of opportunity which can easily improve any economic of any country if used well. We should know that Bitcoin is weak so you have to organise everything yourself in order to be secure but it is not more better than any bank of any country.
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It depends not only on bitcoin, but on the crypto market as a whole.
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I do not think so is true. The economy of a country needs many factors to change it.
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Bitcoin is good for countries economies because it is a fresh flux of investments if they are correctly regulated and directed.
I hope that one day Algeria will accept Bitcoin, it would be great for our economy and could help us solve a lot of problems due to the currencies change black market (3 bil EUR market cap) as people could buy Bitcoin and sell it in foreign countries instead of playing with the black market.
This was just an example of how bitcoin could help a countries economy, but i think that regarding the countries who aleready accepted it as a virtual currency, the main advantage is the security, as it is far better then using a credit card, and it can give a good punch to start-ups growth (if they are not scam)