Bitcoin's Impact on South Asian Economies. - page 3.

TheUltraElite

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Quote from: Atikur0011 on November 24, 2023, 10:01:23 AM

South Asian countries such as India, Bangladesh, Pakistan, Afghanistan, Sri Lanka, some regions are economically very distressed. Bitcoin is an important topic for these regions. Some people in this region live very close to the poverty line. Due to which it becomes difficult for them to run parallel to the country. Through this platform the foreheads of the people of all these regions are being opened.

Important topic but many of them have outlawed the use of put up taxation that is tremendous enough to discourage users.

Bitcoin is not a silver bullet to cure poverty. It is a currency and to earn that you need to work or sell your skills just like you earn fiat. Maybe this forum can give a few of them livelihoods, but there is not stability on such jobs, even freelancing. So fiat and crypto both need to be targeted by users in such countries. Even then it will only provide a means of living and not turn the poor to rich.

Those who live below poverty lines, bitcoin is the least of their concerns. For them clean water, cooked food and electricity with a strong roof to live under are way more necessary things.

knowngunman

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Quote from: Solosanz on November 24, 2023, 11:07:39 AM

If you suggest to buy Bitcoin through loan, in hoping after the next few years you can make a lot money, it's stupid since there's no 100% guarantee Bitcoin price will rise like your predictions.

Do we still have people with this mentality? Taking out a loan to invest in any asset not only Bitcoin is a very risky move. Even if it's 100% guarantee and in fact there is no guarantee that the price of Bitcoin will rise and you may end up losing money if the price goes down. In short, never borrow money to invest because it's simply too risky. Investment always comes with risk and you should never invest more than you can afford to lose.

Borrowing money to invest in Bitcoin is generally considered a bad idea. Investing always comes with risk and when you borrow money to do so, you are increasing the risk because you'll lose the assets if it backfire and you'll still pay for the money you borrow.

Lorence.xD

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Well, we can't literally deny that some of the countries in Southeast Asia are experiencing poverty like my country. I could even say that we're in debted to other countries like the trillions amount of pesos, it might be literally from lack of resources but I would like to say its from corruption. This kind of issue can be helped through Bitcoin as we know the potential of Bitcoin to the people as long as they have the knowledge, funds, and time. Sadly Bitcoin is not that widely known in our country even having a group of people involved in crypto currency, you could literally see that there are only a few people who are active and engaging in the crypto industry as well as investment in Bitcoin. People in the PH actually not only that they lack the knowledge, but if they are just middle class, and just earning enough for you to live and survive, they don't have the time to study and invest in Bitcoin, especially enough funds to invest.

mindrust

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Quote from: Atikur0011 on November 24, 2023, 10:01:23 AM

South Asian countries such as India, Bangladesh, Pakistan, Afghanistan, Sri Lanka, some regions are economically very distressed. Bitcoin is an important topic for these regions. Some people in this region live very close to the poverty line. Due to which it becomes difficult for them to run parallel to the country. Through this platform the foreheads of the people of all these regions are being opened.

They need to fix their other problems first before they think about getting rich from bitcoin imo. How is the human rights over there for example? Do they have a functioning justice system? Education? Health insurance? Any civilization? These people should solve their basic problems first and then the money will flow in any way. There are some rich countries in the world which you still wouldn't want to visit because money isn't everything. How about making less kids? If they are so poor why do they keep making babies?

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Bitcoin does not impact economies. A nation is too complex of an organism for Bitcoin to boost its economy at a level that can be felt. This includes Asian, African or European countries.

Can Bitcoin benefit the life of some of the citizens who get involved in it?
Yes, it can serve as a hedge against inflation and can give some return on investment.

Can Bitcoin boost businesses and economies?
Not significantly.

Davian144

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Quote from: Atikur0011 on November 24, 2023, 10:01:23 AM

South Asian countries such as India, Bangladesh, Pakistan, Afghanistan, Sri Lanka, some regions are economically very distressed. Bitcoin is an important topic for these regions. Some people in this region live very close to the poverty line. Due to which it becomes difficult for them to run parallel to the country. Through this platform the foreheads of the people of all these regions are being opened.

People in the region can also take advantage of the crypto space and this forum to seek additional income to help themselves financially even though they also have to continue working as usual to support their families and themselves. All the countries you mentioned are not that bad countries, although in the economic sector they may not be able to compete with other more advanced countries, but every community there can still live peacefully and quite independently through several methods.

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Quote from: Eternad on November 24, 2023, 10:29:25 AM

I’m from South East Asia. Even though poverty is very high here, Bitcoin is still not popular among the poor since they can’t afford to out money on investments while their salaries is not sufficient to their daily needs. Most of the poor here don’t have a chance to know or invest on Bitcoin.

aside from they can’t afford money, most of them are unaware of what even cryptocurrency is

bitcoin centers around the use of internet which a lot of people in the poverty line have limited access to or sometimes none at all

even if they’ve heard of bitcoin, false narratives about crypto is still adamant in my country when you explain what crypto is they think it’s just all a scam

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Although Bitcoin might really help them to break free to poverty. Having the money for investment is the biggest concern since poverty is cycle here that passed down to children

bitcoin is a result of the development of the internet

it’s truly devastating to see people in the poverty line falling behind

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and so on since jobs here doesn’t pay well even with bachelors degree.

as i am studying, i am closely monitoring my investments

sadly in my country even if you graduate college, the only hope for financial success is if you go abroad

Lida93

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Quote from: Atikur0011 on November 24, 2023, 10:01:23 AM

South Asian countries such as India, Bangladesh, Pakistan, Afghanistan, Sri Lanka, some regions are economically very distressed.
Bitcoin is an important topic for these regions. Through this platform the foreheads of the people of all these regions are being opened.

without a backed data verifying this it is just a speculation. There may be poverty in the South Asian countries but not in the way you make it seem from your expression of depression making the condition look so severe.

For you to investing in bitcoin you must have a good income flow, and for a poor people like you described them how do they now benefits from bitcoin since they can't afford the money to invest because there's no free bitcoin anywhere.

We have Asians in this forum but you can't tell me that the whole of the people of the regions of Asia are in this platform. Neither is the whole of Asians using bitcoin. If you must know, the adoption over there is still very low you can do your findings.

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I'm still confused that the OP didn't mention anything like what impact Bitcoin has had on them. And for the sentence

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"Through this platform the foreheads of the people of all these regions are being opened."

Can you explain in more detail what you mean here? What does it mean to get to know and then buy Bitcoin? If yes then I think what other users say here is the absolute truth. That poor people living on the poverty line how do they have money to buy Bitcoin? If they even have difficulty with their daily needs?

If you mean it's open because someone can make a few dollars from this forum, then that could happen. But before that, of course someone needs time and money to buy an internet quota and learn a few things about forums. And I don't understand if there are any users here who come from that situation?

Solosanz

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My question: If they're poor how they can have money to buy Bitcoin? Bitcoin isn't a charity or free money you can easily claim it, you must have money and you're going to pay the fee too. Bitcoin can't help the poor, the solution is the poor need to find a good job first.

If you suggest to buy Bitcoin through loan, in hoping after the next few years you can make a lot money, it's stupid since there's no 100% guarantee Bitcoin price will rise like your predictions.

Latviand

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Next time OP when you're talking about the mind being opened, just say that they're mind is being opened to new possibilities, forehead doesn't sound nice and it's not exactly implying that you are talking about your mind. It's good to know that a lot of people are still having their hard life being relieved even just a little with the help of bitcoin, apparently the worry of some that the whales taking over bitcoin is misplaced and not true because it seems that people are still able to get into bitcoin.

Quote from: Eternad on November 24, 2023, 10:29:25 AM

I’m from South East Asia. Even though poverty is very high here, Bitcoin is still not popular among the poor since they can’t afford to out money on investments while their salaries is not sufficient to their daily needs. Most of the poor here don’t have a chance to know or invest on Bitcoin.

Although Bitcoin might really help them to break free to poverty. Having the money for investment is the biggest concern since poverty is cycle here that passed down to children and so on since jobs here doesn’t pay well even with bachelors degree.

I'm from SEA too and I am lucky enough to not live below the poverty line but I am almost nearing the line. I can tell you why bitcoin isn't popular among the many poor in the region, it's probably because of the obvious fact that most people from the poverty line and below don't really have the time to invest and most of them don't have any phone or device that they can use to help them navigate the bitcoin space and bitcoin related platforms and they're not really the kind of people that you want to invest for the long term because they don't have the ability to do that or even be able to do that because they need all the money that they can get and investment is the last thing on their minds.

Eternad

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I’m from South East Asia. Even though poverty is very high here, Bitcoin is still not popular among the poor since they can’t afford to out money on investments while their salaries is not sufficient to their daily needs. Most of the poor here don’t have a chance to know or invest on Bitcoin.

Although Bitcoin might really help them to break free to poverty. Having the money for investment is the biggest concern since poverty is cycle here that passed down to children and so on since jobs here doesn’t pay well even with bachelors degree.

Atikur0011

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South Asian countries such as India, Bangladesh, Pakistan, Afghanistan, Sri Lanka, some regions are economically very distressed. Bitcoin is an important topic for these regions. Some people in this region live very close to the poverty line. Due to which it becomes difficult for them to run parallel to the country. Through this platform the foreheads of the people of all these regions are being opened.

Topic: Bitcoin's Impact on South Asian Economies. - page 3. (Read 302 times)