Bitcoin is a popular virtual money that is also the king of better economics. It has a close relationship with the real economy, and many countries rely on it for assistance. Bitcoin is greatly assisting the global economy for a variety of reasons, one of which is the absence of transaction fees and the absence of any fees on any transaction. Cryptocurrencies have no geographical boundaries and are completely decentralised, which means they are not controlled by anyone.
BITCOIN RELATE TO ECONOMICS?
There is no doubt that cryptocurrency has an impact on the economy, which is why many countries are wary of it while others welcome it. It is a good source of economic growth, especially for developing countries, where poor countries may easily use Bitcoin to boost their economy, such as Iran, which is surrounded by significant restrictions on all kinds of goods and other vital items. However, their government is intelligent and is completely relying on Bitcoin, which is why Iran is among the top ten miners.
Some countries are terrified of Bitcoin and are opposed to its regulation because they see governmental benefits from it. They do not want to bring Bitcoin to the forefront since there is a risk that it would jeopardise their governmental advantages, whereas some countries are accepting because they need to build their economy, and Bitcoin, without a doubt, helps with genuine economy growth. The best example is China, which banned cryptocurrency three times yet still has a large number of miners.
Bitcoin mining is a significant contributor to the expansion of the economy. I was looking up statistics on the percentage of mining that various nations are doing. I discovered some intriguing data on theconversation.com for the year 2019, where China ranked first among all nations with 74.9%. China continues to be the country with the most miners despite repeated bans. The other nations, which are of equivalent and modest proportions, rank second among the countries with miners.
CAN BITCOIN MINING HELP WITH ECONOMIC PROBLEMS?
Russia and America rank third and fourth, with percentages of 5.9% and 5.2%, respectively. Following these countries, Malaysia and Iran are the world's next major miners. These are the countries that are currently governing the world, with China being the best economic leader above all other countries. Russia, the United States, and Iran are additional countries that are technologically advanced and have large economies. Iran is still a stable country despite the many limitations placed by the United States and its allies.
The objective of giving these statistics is to demonstrate how large and advanced countries are utilising Bitcoin to aid in the growth of the real economy. These are the countries that use cryptocurrencies, and their economies are unquestionably leading and governing the world. That is why, if governments take Bitcoin seriously and for the sake of the country rather than their egos, there will be massive interactions between Bitcoin and the real economy.
This is an attempt on my side to inform you about the connection of Bitcoin with the actual economy and how it contributes to global economic progress. I hope you find this post interesting and helpful, and if you do, please reblog it so that it reaches as many people as possible and that they may benefit the most. Also, don't forget to upvote, since this will assist monetarily and increase my account. Please feel free to ask any question, and I will do my best to answer it.
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DISCLAIMER
Please keep in mind that I am not a financial advisor. Never, ever take anything I say as financial advice. Conduct your own research. Before making any investment decisions, consult with a professional investment advisor! My posts are strictly for entertainment purposes!
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Very soon, Bitcoin would get the global recognition and acceptance it deserves.
Yes sure, this is the real truth emerging in the advance world and will astonish the people of the world.
Yay! 🤗
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