Topic: Bitcoin's impact - page 4. (Read 896 times)

developing/3rd world countries. jumped passed and bypassed the landline fibre optic and are going straight to 5G wireless.
they have for the last few years been deciding to jump passed and bypass btc and are going straight to altcoin

kind of a shame though. bitcoin has just turned into an investment tool for elitists who want to be FIAT rich

 I think it has had an impact more on developed countries, but it will have more of an impact on developing and third-world countries. The internet's reach is expanding and so is the amount of people with smartphones, even in poorer countries. Cryptocurrencies' real-world use is also evolving.

This means people everywhere will have access to the same knowledge and be able to use the internet and cryptocurrency to put their knowledge to work. Everyone has what it takes, but they need to be equipped with the tools to make it happen, and this is what is happening.

I don't agree with you on this. Even if I'm rich,have money but I don't believe in the technology then it's still useless and when it comes to the poor that you are referring from, they don't have any interest in investing into crypto for they prefer to use their money to meet their basic needs.

This technology is built as an alternative to a corrupt centralized system of currency that we currently have not as an investment vehicle.

Frankly speaking, the only people who can benefit to this technology are those people who has the knowledge and willing to take risks whether you're rich or poor.

having travelled to many countries talking about bitcoin. i have noticed that 3rd world countries (wages are like 5-25cents an hour there) have decided bitcoin is not for them as the fee's are more than an hours labour.

they wont be using LN in conjunction with bitcoin either as it still require a open and close fee..

lets imagine it from a developed countries view

imagine 2009-2013 you could use a new payment system that only cost (converting minimum wage) 75cents which compared to remittance services was cheap...
(it was in real terms only 1cent or less... but imagine from the eyes of a country where it feels like 6 minutes of minimum wage(75cents converted))

then in 2014-2016 fees went up and up and were costing many HOURS of minimum wage(US feel of tens of dollars))..

promises were made of new features that would bring prices down offering 75% discounts.. yet
prices went up.. delays, excuses. back peddling consensus agreements on innovation, planting in trojan code to make bitcoin compatible with other non blokchain networks.. but still no on chain innovation to bring prices down to only a few minutes of labour again.
2018 the fee is the equivalent to a few hours labour. AFTER discount if you use the new feature. but 4 times more again without the discount by staying with the old way of transacting

now your getting told to only expect to have to lock your funds up into a co-signed address with someone else and pay the fee premium to get into this non-blockchain service network and pay the fee premium to get out aswell as needing the co-signer to agree.. to get your funds out the service network.

so. you end up using a different altcoin that cheaper

..
this is why 3rd world and developing countries are just moving away from bitcoin and either developing their own affordable payment networks or just using ones that have not been hijacked into being premium purely just to twist peoples arms into thinking the only way of the future is offchain networks.

(i know expect replies from the usual crew of people to not defend bitcoins principles of 2009-2013. but instead defend a group of devs who think non-blockchain, unaudited, permissioned(co-signed) networks requiring locking up funds is best(facepalm))

Ostensibly most topics/threads on this section have actually been discussed multiple times and hence a sequel of the last discussion,so I thought it wise to come up with something novel..

There happens to be plethora of problems the bitcoin solves in its own way, but I think myself and 85% other bitcoiners would agree that the major issue the bitcoin puts a halt to is poverty(as it provides financial freedom)...uhm,...thats not to say that many bitcoiners weren't rich or more so comfortable before the inception of the bitcoin,but it sure does contribute it's own fair share of financial freedom and makes the rich richer and the poor,rich

Now the point of our discussion
I'm going to provide three groups
1)3rd world countries/underdeveloped countries
2)Developed countries
3)Developing countries

Each and everyone of us happens to live in one of the aforementioned groups,so with reasons let us know in your opinion which of this groups(countries)the bitcoin has had more of an impact on and why you think so(outlining at least one problem it solves for the individuals in such groups/countries)