Bitcoin and economic freedom

The concepts of bitcoin and economic freedom seem to be two parallel concepts. There have been many studies on economic freedoms in the world. Economic freedom is clearly linked to per capita GDP. CCN said that countries that banned Bitcoin or went seriously into legal restrictions were at a low level in terms of economic freedom and that per capita GDP was low. These non-free regimes play a role in creating poverty for their people.

According to the Economic Freedom Index of the 2017 Heritage Foundation, the following five countries were the most economically free countries:

1-Hong Kong
2-Singapore
3-New Zeland
4-Swiss
5-Australia

Heritage uses the following 4 categories to assess economic freedom:

1-Supremacy of law (property rights, state integrity, judicial effectiveness)
2-State Size (government expenditures, tax burden, financial health)
3-Regulatory Event (job freedom, labor freedom, monetary freedom)
4-Open Markets (trade freedom, investment freedom, material freedom)

Let's look at GDP per capita for the five economically most free communities using World Bank numbers 2016:

1-Hong Kong $ 43,681
2-Singapore $ 52,961
3-New Zealand $ 39,427
4-Switzerland $ 78,813
5-Australia. $ 49.929

Having economic freedom is related to people who are in good financial condition. The better the economy of an country, the more people will be free. Economic growth and per capita GDP growth lead to longer life, more choice, less pollution, smaller families and new technological breakthroughs. The countries can get richer and save the planet effectively.

Ban Bitcoin
According to Wikipedia, the following 5 countries banned Bitcoin:

Morocco
Bolivia
Ecuador
Kirghizistan
Bangladesh

Now, let's see how Bitcoin is included in the Heritage Economic Freedom Index of countries forbidden:

Morocco Ranked # 86
Bolivia Ranked # 168
Ranked # 160 in Ecuador
Kyrgyzstan Ranked # 89
Bangladesh Ranked # 128

Morocco and the Kyrgyzstan Heritage Foundation. Bangladesh is mostly under pressure, under Bolivian and Ecuadorian pressure. Countries that banned bitoin are clearly not economically free.

Now let us look at the data of US GDP per capita GDP per capita in countries where Bitcoin is prohibited:

Morocco $ 2,832
Bolivia $ 3,105
Equator $ 5,969
Kyrgyzstan $ 1.077
Bangladesh $ 1,359

Free and Rich Countries Accept Bitcoin

Japan has legalized BitCoin. This move seems to have caused an increase in GDP in the country. Even China's largest cryptographic exchange has signed an agreement to move only to Japan and South Korea.

Switzerland produced a crypto money room in Zug. The Crypto Valley has become a government-sponsored union that aims to be at the forefront of block-chain and crypto-money technologies. These countries are not afraid of economic freedoms.

On the other hand, we can not count on this list, which is a very large number. Many countries are going to legal regulations about Bitcoin and crypto money. In many European countries it is not even "Bitcoin prohibition". The United States is able to draw specific frameworks on crypto money in different states in different states. Russia has taken serious steps in the wing of the government sector.

The more economically free a country becomes, the more rich it becomes. Only backwards, repressive regimes prohibit bitcoin. These non-free regimes play a role in creating poverty for their people. Smart governments will continue to support block-chain and crypto-currencies. Cryptographic currencies will continue to create more efficient markets.

Many of the free and economically rich countries acknowledge the presence of Bitcoin, some of them formally define, the concepts of Bitcoin and economic freedom are consistent across countries. In the coming years we will see how this situation will continue.

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