bitcoin in developing countries - page 45.

soenaderecho10

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Quote from: 1Referee on May 03, 2018, 07:50:24 AM

Quote from: KingdomHearts on May 03, 2018, 06:49:59 AM

But there is a big problem there. I have read many news regarding this on sisal media and electronic media. And every time they said, all such governments of developing countries have banned bitcoins with immediate effect because in their point of view, these decentralized coins can reduce the tax paying from public as they are decentralized and can’t be traced down.

Firstly, in most cases Bitcoin isn't actually banned, but just the practice of exchanging crypto to fiat and vice versa.

Secondly, governments missing out on taxes is just nonsense. If there was no crypto, there would be no additional crypto tax income for governments, so what exactly are they missing? To add; them getting rid of crypto actually makes them lose out on additional tax income. If you regulate the market as government, you WILL get tax income from crypto. It might not be that all people suddenly start paying tax, but what's better, 20% of the crypto traders pay tax or 0% of the traders?

People here need to accept and understand that people in developing countries are mostly poor for a reason, and will remain that for a reason. They aren't supposed to progress further. Poverty, just like debt, means you as authority effectively control everyone fitting in these categories, and let that control be what authorities desperately plan to hold firm.

It is a little bit depressing but I think you're right, those that are poor are very unfortunate to have been born poor and because of that they are going to be denied a lot of opportunities that could help them to change their fate, there are those that are able to get out of that poverty but people like that could have succeeded in almost any scenario that you gave them because they have that kind of drive.

But government could turn the tides with that situation. They could use cryptos at some point that they'll be making an investment program where poor people could invest into crypto with their support by cents or few quarters to start it up and let it grow for a while. It is not the real thing to make them grow their economic status but it could help them slightly to moderate.

While that could certainly help we need to ask ourselves how likely could that be? And to me that seems to be very unlikely, governments will need to accept cryptocurrencies fully at that point, which is something that probably is not going to happen that soon and also one of the first rules of investing is to not invest in something that you do not know anything about, so unless you educate the people about cryptocurrencies it will be a mistake to let them invest in them.

Bitcoin is developing a new currency because of people use it and invest and we can see the the price is good so the people like a bitcoin and if many persons invest a bitcoin the bitcoin will grow up and many persons know it and become popular so that in the future bitcoin will popular and bitcoin use in people on daily needs to buy.

South Park

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Quote from: South Park on May 03, 2018, 05:31:37 PM

Quote from: 1Referee on May 03, 2018, 07:50:24 AM

Quote from: KingdomHearts on May 03, 2018, 06:49:59 AM

But there is a big problem there. I have read many news regarding this on sisal media and electronic media. And every time they said, all such governments of developing countries have banned bitcoins with immediate effect because in their point of view, these decentralized coins can reduce the tax paying from public as they are decentralized and can’t be traced down.

Firstly, in most cases Bitcoin isn't actually banned, but just the practice of exchanging crypto to fiat and vice versa.

Secondly, governments missing out on taxes is just nonsense. If there was no crypto, there would be no additional crypto tax income for governments, so what exactly are they missing? To add; them getting rid of crypto actually makes them lose out on additional tax income. If you regulate the market as government, you WILL get tax income from crypto. It might not be that all people suddenly start paying tax, but what's better, 20% of the crypto traders pay tax or 0% of the traders?

People here need to accept and understand that people in developing countries are mostly poor for a reason, and will remain that for a reason. They aren't supposed to progress further. Poverty, just like debt, means you as authority effectively control everyone fitting in these categories, and let that control be what authorities desperately plan to hold firm.

It is a little bit depressing but I think you're right, those that are poor are very unfortunate to have been born poor and because of that they are going to be denied a lot of opportunities that could help them to change their fate, there are those that are able to get out of that poverty but people like that could have succeeded in almost any scenario that you gave them because they have that kind of drive.

But government could turn the tides with that situation. They could use cryptos at some point that they'll be making an investment program where poor people could invest into crypto with their support by cents or few quarters to start it up and let it grow for a while. It is not the real thing to make them grow their economic status but it could help them slightly to moderate.

While that could certainly help we need to ask ourselves how likely could that be? And to me that seems to be very unlikely, governments will need to accept cryptocurrencies fully at that point, which is something that probably is not going to happen that soon and also one of the first rules of investing is to not invest in something that you do not know anything about, so unless you educate the people about cryptocurrencies it will be a mistake to let them invest in them.

cotton ball

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Quote from: laravuemaster on May 04, 2018, 12:07:09 PM

Quote from: cutikanzilong on April 26, 2018, 09:16:03 PM

at present, bitcoin is becoming known to people around the world, especially in developing countries. the majority of bitcoin is introduced through news on television and on the internet. Therefore people are starting to want to know what bitcoin is and if it appeals to them, they will invest instead?
Well the government should not be silent on bitcoin, they think bitcoin is disrupting economic stability and there will be inflation in the country.
Do you think that bitcoin will disrupt economic stability and there will be inflation due to bitcoin in a country?

Japan is one of the country that is using cryptocurrency to improve their own economy so there is no reason for the government of other countries to ban cryptocurrency in their area since it was helping different people's life.

their main problem is being unprepared and able to actively regulate, on the other hand they are not ready with a wave of crypto understanding from a community that has actively converted fiat to crypto, in this case the government is still busy organizing crypto taxes and continuing to delay make the regulation as a whole.

jeremypwr

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Bitcoin in developing countries is a fantastic idea, especially for countries where their local currency is worth next to nothing.
Realistically speaking I think that one day, BTC will be universally recognized as an elite form of currency, something comparable to that of gold but such is one that people can spend for goods and services.
I will go so far as to even say that one day, BTC will replace certain world currencies that's can't keep up or have little value compared against the dollar.

Kittygalore

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Quote from: cutikanzilong on April 26, 2018, 09:16:03 PM

at present, bitcoin is becoming known to people around the world, especially in developing countries. the majority of bitcoin is introduced through news on television and on the internet. Therefore people are starting to want to know what bitcoin is and if it appeals to them, they will invest instead?
Well the government should not be silent on bitcoin, they think bitcoin is disrupting economic stability and there will be inflation in the country.
Do you think that bitcoin will disrupt economic stability and there will be inflation due to bitcoin in a country?

Bitcoin really gives of a room with endless of possibilities in the field of business and investments. Bitcoin can basically boost a country's economic status, there's a factor that the economic status of a country is a portion of other people's taxes and with this having to be a legitimate job in a country will help the country to have many job openings and lesser unemployment rate which leads to a better community.

exalterego

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Quote from: Epimetheus on April 27, 2018, 03:10:16 PM

In central Africa country like Kenya, Zimbabwe etc
With the help of Bitcoin they can buy anything from Internet.

Ah man, in those countries they don't even have water and electricity, and a huge percent of families live for 1 (one!!) dollar per day (not to say about the limited access to Internet).
I don't think these poor people dream about bying something on the Web.
In order to have financially reliable population these governments should firstly improve living standards, wipe out poverty - and then enjoy all the benefits of Bitcoin.

laravuemaster

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Quote from: cutikanzilong on April 26, 2018, 09:16:03 PM

at present, bitcoin is becoming known to people around the world, especially in developing countries. the majority of bitcoin is introduced through news on television and on the internet. Therefore people are starting to want to know what bitcoin is and if it appeals to them, they will invest instead?
Well the government should not be silent on bitcoin, they think bitcoin is disrupting economic stability and there will be inflation in the country.
Do you think that bitcoin will disrupt economic stability and there will be inflation due to bitcoin in a country?

Japan is one of the country that is using cryptocurrency to improve their own economy so there is no reason for the government of other countries to ban cryptocurrency in their area since it was helping different people's life.

Jaky

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Quote from: cutikanzilong on April 26, 2018, 09:16:03 PM

at present, bitcoin is becoming known to people around the world, especially in developing countries. the majority of bitcoin is introduced through news on television and on the internet. Therefore people are starting to want to know what bitcoin is and if it appeals to them, they will invest instead?
Well the government should not be silent on bitcoin, they think bitcoin is disrupting economic stability and there will be inflation in the country.
Do you think that bitcoin will disrupt economic stability and there will be inflation due to bitcoin in a country?

No in other country Bitcoin is not yet accepted and not much legally open to all countries.. that's marketing strategies getting more ideable for people to know and have knowledge about and then they invest and think the big fish is in cryptos..

aksay79

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Quote from: Findingnemo on May 02, 2018, 02:39:18 PM

Quote from: Jannatul Shefa on May 02, 2018, 02:05:42 PM

In present world bitcoin is becoming popular day by day. People have started to know about it. In developing countries also many people are connected with bitcoin.

Yes in recent days bitcoin and other crypto currency are very popular all over the world so this is a good thing for all crypto currencies and also the development of its value and also gives some hope for users.

Big mistakes, some big countries have not yet legalized bitcoins to move freely in this country, but the government is no longer able to prevent the bitcoin movement getting ahead of the world

googs84

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Quote from: Jannatul Shefa on May 02, 2018, 02:05:42 PM

In present world bitcoin is becoming popular day by day. People have started to know about it. In developing countries also many people are connected with bitcoin.

Thats just the same thing that OP told! Whats new in your own idea or thoughts thats what we are discussing here mate.

According to me its all about the marketing strategies. Regardless of developed or developing the bitcoin is getting into hearts of every person because of one main thing, its getting them profited with the huge investment that they are making !

Thats the simples logic behind this one.

Gudhal Untu

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I'm sure and optimistic that the future of bitcoin will continue to improve so that all countries will develop bitcoin, and a good example is the Japanese government that actively introduces to their citizens to use andd developing bitcoin.

Williams_Leo

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In the developed world, Bitcoins can be dubbed the currency of economic change in their country. Many countries now prefer Bitcoin currencies to be more productive so they have expanded their markets. Virtual currency, allowing all investors to participate in the transaction.

nodulelibyane7

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The fiat system is the one causing the inflation’s all the time and manipulates.

Cinemo

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Quote from: Elrozaq on April 27, 2018, 07:10:14 PM

Quote from: cutikanzilong on April 26, 2018, 09:16:03 PM

at present, bitcoin is becoming known to people around the world, especially in developing countries. the majority of bitcoin is introduced through news on television and on the internet. Therefore people are starting to want to know what bitcoin is and if it appeals to them, they will invest instead?
Well the government should not be silent on bitcoin, they think bitcoin is disrupting economic stability and there will be inflation in the country.
Do you think that bitcoin will disrupt economic stability and there will be inflation due to bitcoin in a country?

if the people in developing countries have much money and try to invest the bitcoin, I think it can help them to get alot benefit. it is my opinion.

our country was 3rd world country and yes its developing country and im sure that it is a good year to all cryptocurrencies earner to start a new life with it. cause our beloved president is not against in bitcoin although they heard that its used in crimes and illegal doings. im sure our president knows that many of his citizen is depending on bitcoin.

bingungsekali

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which I know bitcoin in developing countries is rejected by the government .. for example Indonesia is my own country .. in my country the government refused the existence of bitcoin for fear of being abused for illegal transactions, money laundering, financing of terrorism and also because this is not a legal means of payment.

wraithdot

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Quote from: Tenderino on April 27, 2018, 07:03:32 PM

People in developing countries usually have less money available to spend and they will likely buy low priced coins from interesting and really needed ICO projects, rather than paying $9,000 for one coin!

I have no doubt that a higher usage of bitcoin will disrupt economic stability, because the government will collect less taxes and this could indeed lead to an inflation for the fiat money, because the fiat money holders finance the state budget of a country.

Definitely right, bitcoin is worthy and very useful for developing countries and it will never be risky to joining such crypto currency,it can help with those people who are interested in home base type of work.

jetjet

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Quote from: cutikanzilong on April 26, 2018, 09:16:03 PM

at present, bitcoin is becoming known to people around the world, especially in developing countries. the majority of bitcoin is introduced through news on television and on the internet. Therefore people are starting to want to know what bitcoin is and if it appeals to them, they will invest instead?
Well the government should not be silent on bitcoin, they think bitcoin is disrupting economic stability and there will be inflation in the country.
Do you think that bitcoin will disrupt economic stability and there will be inflation due to bitcoin in a country?

i dont think bitcoin will disrupt economic stability in contrary bitcoin will help boast economic growth. there are so many people earning money through bitcoin, it somehow helps the economy. if people are in good financial standing so as also with the economy so theres no room for disruption on that scenario.

weblouartisan

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Quote from: cutikanzilong on April 26, 2018, 09:16:03 PM

at present, bitcoin is becoming known to people around the world, especially in developing countries. the majority of bitcoin is introduced through news on television and on the internet. Therefore people are starting to want to know what bitcoin is and if it appeals to them, they will invest instead?
Well the government should not be silent on bitcoin, they think bitcoin is disrupting economic stability and there will be inflation in the country.
Do you think that bitcoin will disrupt economic stability and there will be inflation due to bitcoin in a country?

Bitcoin should be advertised on the television if there is a company who are accepting cryptocurrency because it helps different people in their life, another is that the growth of economy will be much faster if government will use cryptocurrency on their country.

valentinen39

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Quote from: cutikanzilong on April 26, 2018, 09:16:03 PM

at present, bitcoin is becoming known to people around the world, especially in developing countries. the majority of bitcoin is introduced through news on television and on the internet. Therefore people are starting to want to know what bitcoin is and if it appeals to them, they will invest instead?
Well the government should not be silent on bitcoin, they think bitcoin is disrupting economic stability and there will be inflation in the country.
Do you think that bitcoin will disrupt economic stability and there will be inflation due to bitcoin in a country?

Cryptocurrency can really develop the country only if government will allow cryptocurrency to flow on their and be legalize in their area, in this way people can start trading in the market and those who are jobless can do something that will be worthy of their time.

South Park

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Quote from: 1Referee on May 03, 2018, 07:50:24 AM

Quote from: KingdomHearts on May 03, 2018, 06:49:59 AM

But there is a big problem there. I have read many news regarding this on sisal media and electronic media. And every time they said, all such governments of developing countries have banned bitcoins with immediate effect because in their point of view, these decentralized coins can reduce the tax paying from public as they are decentralized and can’t be traced down.

Firstly, in most cases Bitcoin isn't actually banned, but just the practice of exchanging crypto to fiat and vice versa.

Secondly, governments missing out on taxes is just nonsense. If there was no crypto, there would be no additional crypto tax income for governments, so what exactly are they missing? To add; them getting rid of crypto actually makes them lose out on additional tax income. If you regulate the market as government, you WILL get tax income from crypto. It might not be that all people suddenly start paying tax, but what's better, 20% of the crypto traders pay tax or 0% of the traders?

People here need to accept and understand that people in developing countries are mostly poor for a reason, and will remain that for a reason. They aren't supposed to progress further. Poverty, just like debt, means you as authority effectively control everyone fitting in these categories, and let that control be what authorities desperately plan to hold firm.

It is a little bit depressing but I think you're right, those that are poor are very unfortunate to have been born poor and because of that they are going to be denied a lot of opportunities that could help them to change their fate, there are those that are able to get out of that poverty but people like that could have succeeded in almost any scenario that you gave them because they have that kind of drive.

Topic: bitcoin in developing countries - page 45. (Read 3369 times)