and to this day only developed countries have applied bitcoin in their economic systems such as in the future and other countries
because the politics of developing countries is very bad compared to developed countries, because for bitcoin politicians are a threat to them
Topic: Bitcoin the answer to developing countries currency issues - page 2. (Read 240 times)
These needs a deep analysis than just applying it because of their economy breakdown or the rush need for a currency.
It aint that easy.
Yes it may be the answer to their problem but it could also be the worse disaster they will ever face.
With the price volatility it can be hoarding that will happen or could be a big dump that will affect mostly to their economy.
It aint that easy.
Yes it may be the answer to their problem but it could also be the worse disaster they will ever face.
With the price volatility it can be hoarding that will happen or could be a big dump that will affect mostly to their economy.
Adopting bitcoin to every country's economy is actually a huge deal. This will help users of bitcoin to invest and create their own business.
Well in most developing countries of the world especially in Africa and southern America the battle of a stable currency has been there issue and this countries has sometime serious of inflation and there currency are so weaker can only be accepted for trade within their country.
If bitcoin becomes adopted generally if will Forster a healthy trading ecosystem among countries and also tackle problems of inflation, slow and ineffective transaction processes and even prevent scam and corrupt practices
If bitcoin becomes adopted generally if will Forster a healthy trading ecosystem among countries and also tackle problems of inflation, slow and ineffective transaction processes and even prevent scam and corrupt practices
Indeed adopting Bitcoins shall do wonders for their economies, as it'll give them a strong currency that'll appreciate in the long run. Also if they start mining it, they'll be able to sell it for fiat which shall strengthen their economy. If they start to do local transactions they'll save money on printing new currency, and this currency shall keep on appreciating which will lead to more revenues for them. New jobs can be created to cater to this new industry, hence I feel bitcoins can be a magical solution for the growing countries.
In my own views, I believe Bitcoin is the answer particularly to the developing countries where this is a big help for the people in these countries to lessen the problem of unemployment. Joining bounties could be a part of the solution to the problem where there is an opportunity to earn profit through their participation. I believe that these people will at least gain financial freedom from their shortcomings.
You think of it ideally, but these things are far from getting.
Some good points will be like the following:
New markets: The use of cryptos will pave the way for more exchanges and thus more sales/purchases rather than the restrictions of local currencies.
Jobs: There will be more cheap labor and hence development for some families.
Price volatility: Bitcoin fluctuations may be very profitable for those countries especially at local prices.
Although cryptocurrencies are not a magic solution to all problems, their use will be limited to specific categories; fluctuations may result in significant losses and other things.
Some good points will be like the following:
New markets: The use of cryptos will pave the way for more exchanges and thus more sales/purchases rather than the restrictions of local currencies.
Jobs: There will be more cheap labor and hence development for some families.
Price volatility: Bitcoin fluctuations may be very profitable for those countries especially at local prices.
Although cryptocurrencies are not a magic solution to all problems, their use will be limited to specific categories; fluctuations may result in significant losses and other things.
Ideally you agree with your opinion.
However, in fact, I think there is a domestic currency control as one of the state power. If it is not a democratic country, I think it will not let go of it, or If the country is able to use own Crypto, it will be not Decentralized system like Ripple. In the end I think the king of country want to be under control everything .
However, in fact, I think there is a domestic currency control as one of the state power. If it is not a democratic country, I think it will not let go of it, or If the country is able to use own Crypto, it will be not Decentralized system like Ripple. In the end I think the king of country want to be under control everything .
In fact, the adoption of bitcoin in underdeveloped countries will help not only economically, but also give a lot of jobs for the population. Therefore, the adoption of bitcoin in the third world is necessary.
Well in most developing countries of the world especially in Africa and southern America the battle of a stable currency has been there issue and this countries has sometime serious of inflation and there currency are so weaker can only be accepted for trade within their country.
If bitcoin becomes adopted generally if will Forster a healthy trading ecosystem among countries and also tackle problems of inflation, slow and ineffective transaction processes and even prevent scam and corrupt practices
If bitcoin becomes adopted generally if will Forster a healthy trading ecosystem among countries and also tackle problems of inflation, slow and ineffective transaction processes and even prevent scam and corrupt practices
Jump to: