Bitcoin’s Role in a Changing Economy

[rachael9385]

I believe Bitcoin would maintain its dominance for a long time I can't predict what would happen in the future but with the present state I believe Bitcoin will maintain it's dominance. And from your question on bitcoin's role in a changing Economy I don't think Bitcoin can help amend as full as the economy of a country unless they are approved by the government and also administered a post in the economy for an example the way America has made it so large and also administered it that is the only way it can have a role to play in an economy else it would just help few individuals and that alone doesn't play any role in the economy.

[Faisal2202]

Personally bitcoin has come a long way, from being labeled a fad to becoming a legitimate store of value. With global economies facing challenges like inflation and devaluation, I think Bitcoin’s use case as "digital gold" is more relevant than ever. Do you see Bitcoin maintaining its dominance, or will it evolve into something even bigger?

It will also maintain its dominance and at the same time it can evolve into something even bigger too because the promises that Trump made are too bullish and after getting full power at 20 Jan the market will pump more and this digital Gold will be making more profit to its investors. And yeah role is changing as the Roger Ver also said in his latest interview that the motive is being changed.

BTC was meant to be a transaction system peer to peer based on decentralized infrastructure but somehow it is being moved to more centralization that no one can now save themselves from tax etc. because they can't hide how much they had and how much they made so they have to pay tax.

[kulkhan]

Now a days Bitcoin is very popular and very important for world economy. Every sector of world economy Bitcoin roling there has no doubt. Day by day Bitcoin's user increasing and it being more popular. I think in future Bitcoin will more and more popular and Bitcoin will use every sector of world economy. Because day by day digital currency being comfortable for users. It's transaction fees are very low and earlier.

[_act_]

Personally bitcoin has come a long way, from being labeled a fad to becoming a legitimate store of value. With global economies facing challenges like inflation and devaluation, I think Bitcoin’s use case as "digital gold" is more relevant than ever. Do you see Bitcoin maintaining its dominance, or will it evolve into something even bigger?

Bitcoin will always continue to maintain it dominance and still move on to the next level, with time, we should expect bitcoin to go more bigger as we have more other halving circles and the bullrun to make it all time high, also, the more the network remains immutable the stronger it becomes for the people to use it and the same we are going to see a massive increase from its level of adoption.

[|MINER|]

Bitcoin will always continue to maintain it dominance and still move on to the next level, with time, we should expect bitcoin to go more bigger as we have more other halving circles and the bullrun to make it all time high, also, the more the network remains immutable the stronger it becomes for the people to use it and the same we are going to see a massive increase from its level of adoption.

Bitcoin is called digital gold. Because bitcoin is an asset. It is a trusted decentralized coin. There is no possibility of loss if you invest in Bitcoin. Most people invest in it. During the bull run, it is profitable several times. It is a trusted coin, so the number of investors in it is high. It has a lot of impact on people's lives. Because many people have become very profitable and wealthy by investing in it. So it can be said without a doubt that Bitcoin has a very good impact on the economy..

[Findingnemo]

Calling bitcoin as store of value itself a wrong statement, it's not meant to be a store of value or an alternate to gold in this digital era. It's just terms used among the internet community for bitcoin but the real purpose of Bitcoin is to be used for payments like it should be able to satisfy when someone buy a bag of grocery and pays in bitcoin which is the ultimate goal and yes we are on the path of achieving it.

[Stompix]

Everyone is saying that Bitcoin has changed a lot in the economy, but not a single poster has offered an example of the changes, so what major has thing has Bitcoin changed in the economy, not in your personal finances?

I always said that nobody would mistake their personal finance and personal business with the global economy, so while Bitcoin can shield your money from inflation and provide a secure way to store your wealth in terms of country-level economy the changes are minuscule at best!
Let's leave the thing about the obvious inexistent changes, what do you think might change and why?

[Bobcrypto]

I believe Bitcoin would maintain its dominance for a long time I can't predict what would happen in the future but with the present state I believe Bitcoin will maintain it's dominance. And from your question on bitcoin's role in a changing Economy I don't think Bitcoin can help amend as full as the economy of a country unless they are approved by the government and also administered a post in the economy for an example the way America has made it so large and also administered it that is the only way it can have a role to play in an economy else it would just help few individuals and that alone doesn't play any role in the economy.

First and foremost, lets understand what an economy is all about, then i we explain further on how Bitcoin can positively boost the economy of a nation if adopted as a reserve, even as many nations are proposing a Bitcoin strategic reserves.
Now, an economy consist of production, Consumption, distributions, It also includes, international trades and Government.
Again, it is a system that is inter related with production, consumption and exchange activities, which also determined how nations resources are allocated among all participants in the country.
For example, a Bitcoin reserve kept for certain periods in the future can be used for production of good and services that will benefit everyone, that is, the end users or consumers etc.
In a nutshell, Bitcoin can help every citizen if it's returns are well distributed to the sectors of a nation economy, especially the areas that needed urgent attentions.

[God Of Thunder]

but the real purpose of Bitcoin is to be used for payments like it should be able to satisfy when someone buy a bag of grocery and pays in bitcoin which is the ultimate goal and yes we are on the path of achieving it.

Things changed these days. If payment was the real purpose of Bitcoin, then an average block of ten minutes would be one minute. Sometimes, a block can be mined within a couple of seconds, and sometimes, it takes an hour to find a block. Imagine people around the world started using Bitcoin for their regular payment, the mempool will be congested like how it was when Runes and BRC-20 tokens were launched. The transaction fees will be up to $100, and it will be almost impossible to transfer the funds. Layer 2 could be a solution. But it is what it is now. Bitcoin is mostly seen as an investment right now. If not, why do you think institutions are planning for strategic Bitcoin investment?

[Aanuoluwatofunmi]

Personally bitcoin has come a long way, from being labeled a fad to becoming a legitimate store of value. With global economies facing challenges like inflation and devaluation, I think Bitcoin’s use case as "digital gold" is more relevant than ever. Do you see Bitcoin maintaining its dominance, or will it evolve into something even bigger?

Bitcoin relevance will always remain as well as dominance because it's now an acceptable digital currency all over the world, we are still hoping for more adoption than ever before from other areas that are yet to know about the various opportunities bitcoin can serve their delapidating economy, but some may not really key into this due to indecision, bitcoin is there to change an economy for good as well as improve on human economy and financial life.

[MUGNIA]

I've seen in news that the USA is interested on it so as Russia and maybe China as well so no doubt there is a big surprise waiting for the Bitcoin community in the coming months or years.

I could not imagine what can be the price of Bitcoin once three big countries with the biggest economies will decide to include BTC on their strategic reserve. Once USA will go for it there can be a big chance that the other two will start to look at this possibility and also make mining a very legal activity in their boundary so they can have their own supply of Bitcoin. We know that China made a blanket ban on cryptocurrency years ago but there is a big chance they would modify this stand to allow Bitcoin to come in once again. Russia can be using Bitcoin to overcome many of the economic difficulties it is facing and to circumvent the embargo imposed on it by many countries sympathetic to Ukraine. In the coming years, we can be in for major surprises involving Bitcoin and I feel lucky to be a small part of this story.

for now only America has just stated its support for btc, the price has skyrocketed, let alone the 3 countries you mentioned, especially if China changes its mind about btc, I am increasingly convinced that the price of btc will be higher than it is now.
Being part of the bitcoin story is happiness because having bitcoin in the future will be more difficult to achieve even in the amount of btc cents

[PX-Z]

for now only America has just stated its support for btc, the price has skyrocketed, let alone the 3 countries you mentioned, especially if China changes its mind about btc, I am increasingly convinced that the price of btc will be higher than it is now.

What support? USA never supported btc, it's just because Trump is Bitcoin friendly, it does not mean that country supports it unless a new law stated that USA will make bitcoin as their reserve money,

[bounceback]

What support? USA never supported btc, it's just because Trump is Bitcoin friendly, it does not mean that country supports it unless a new law stated that USA will make bitcoin as their reserve money,

United State still not support yet with bitcoin as legal payment transaction awhile but Donald Trump have promised before will make bitcoin more friendly.
Can't fully believing with politician promising because their goals want to get vote from cryptocurrency community but waiting later when Trump officially become US president will make bitcoin more friendly at United State or bitcoin keep the same viewed from US not get regulation yet.

[Stompix]

What support? USA never supported btc,

Then how do explain this:
- top companies holding Bitcoin
- biggest ETF in the world
- biggest BTC custodial companies
- majority of the hashrate for bitcoin mining
- most Bitcoin ATMs

This achieved well before Trump said anything, how has this come to fruition if there would have been no support for it?

[taufik123]

for now only America has just stated its support for btc, the price has skyrocketed, let alone the 3 countries you mentioned, especially if China changes its mind about btc, I am increasingly convinced that the price of btc will be higher than it is now.

What support? USA never supported btc, it's just because Trump is Bitcoin friendly, it does not mean that country supports it unless a new law stated that USA will make bitcoin as their reserve money,

We have not seen what Trump will do later, January 20 will be inaugurated and see how Trump's promises and performance on Bitcoin or cryptocurrencies are.
If Trump continues to support it will certainly have a big impact on the crypto market including Bitcoin, it is only necessary to carry out the promises he has made before he was elected.