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. (Read 375 times)
How bitcoin will affect south asian economies will generally depend on the country's government. If governments in asia legalize bitcoin can help boost their country's economy strict action by the government will be a hindrance for people to use bitcoin. South Asian countries are developing but not inclusively. Inequality is the biggest obstacle to development. Other countries that have Bitcoin legalization have relatively prosperous economies. No obstacle is created in the way of people's development. When the economy suffers everything becomes easier with bitcoin investment because nothing affects bitcoin.
Crypto and Bitcoin is not a magic lamp that can fix countries' economic problem instantly. Bitcoin and crypto might help to give option for international transaction that help individuals, but in macro scale economic problem in a country is far more complex, even when a government' legalized Bitcion and Crypto as investment instruments, or even use it as legal tender, there are a lot of other thing that is needed to be fixed, corruption, bad policies, illegal export and import, etc.
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.
Most Asian countries believe in Bitcoin and cryptocurrency. Hong Kong recently opened a local exchange in their country; what about Singapore too, and especially the Philippines? There are many crypto believers in this country.
This means that the spread of innovation in blockchain technology in Bitcoin or cryptocurrency cannot be stopped. And his dominance is also sure to continue in the coming days and times.
Here in our country, the majority of people are usually in civilized areas; only a few people know about Bitcoin or cryptocurrency in the provinces here, to be honest.
Are you referring to rural areas? I'm not surprised if people who live in the countryside don't know much about crypto, or even the latest tech in general. At the very least, in my region, those who live in rural areas don't really have any incentive to research more unless they want to increase their living condition. Most of them will move to the city though since the internet is not really good and quite expensive for them. Those who know Bitcoin without moving to a city are quite few, probably know from their family or friends from the city too. 
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.
I believe that you are referring to this Platform "BITCOINTALK" instead of bitcoin mate because when you call thosepeople living are very poor means Bitcointalk.org gives them opportunity not only to opening their forehead but also
their Pocket to earn from this forum as some are participating in bounties and other profit giving event .
As we can see that Bitcoin is one of the large decentralized currency cryptocurrencies which are not regulated in several countries, but nevertheless there are large companies that use large mines to be able to extract bitcoins, but there is a lot of speculation with it, and they declare war between countries
who declares war against Countries? Miner or bitcoin? or the government instead? regulations have been in the system for long but they cannot stop bitcoin from spreading and being used .Large companies are there to mine but still the circulation of bitcoin around the world comes from users and believers like us .
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.
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.
Those who are counted as poor people also have a poor mindset and are closed-minded to cryptocurrency and Bitcoin. But if you have a good mindset in your mind, even if you are a poor person, I am sure you can find a way to have Bitcoin while you know and study it.
Here in our country, the majority of people are usually in civilized areas; only a few people know about Bitcoin or cryptocurrency in the provinces here, to be honest.
Random optimism for this technology?
Be realistic; poor ones won't prioritize investments and assets simply because they need to provide for their daily expenses which is practical. Whether it is South East Asia or other regions of the globe, as long as people themselves are not interested to engage not because of its popularity but circumstances and capabilities of the people on those areas believed to be struggling in terms of financial aspect. Everyone's free to invest but no one is required especially if there are other things needing the fund such as food in the table. Economic issues will never be resolved by this industry's token.
Be realistic; poor ones won't prioritize investments and assets simply because they need to provide for their daily expenses which is practical. Whether it is South East Asia or other regions of the globe, as long as people themselves are not interested to engage not because of its popularity but circumstances and capabilities of the people on those areas believed to be struggling in terms of financial aspect. Everyone's free to invest but no one is required especially if there are other things needing the fund such as food in the table. Economic issues will never be resolved by this industry's token.
As we can see that Bitcoin is one of the large decentralized currency cryptocurrencies which are not regulated in several countries, but nevertheless there are large companies that use large mines to be able to extract bitcoins, but there is a lot of speculation with it, and they declare war between countries
How bitcoin will affect south asian economies will generally depend on the country's government. If governments in asia legalize bitcoin can help boost their country's economy strict action by the government will be a hindrance for people to use bitcoin. South Asian countries are developing but not inclusively. Inequality is the biggest obstacle to development. Other countries that have Bitcoin legalization have relatively prosperous economies. No obstacle is created in the way of people's development. When the economy suffers everything becomes easier with bitcoin investment because nothing affects bitcoin.
Do you believe that thriving economies are a result, or a consequence of the adoption of bitcoin ?
I'm sorry - but that's a fallacy, unfortunately. By itself neither bitcoin nor any other cryptocurrency can save or noticeably improve the economy, otherwise all countries have long ago switched to cryptocurrency, solving all their problems without much effort
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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.
Digital technology continues to develop, of course this will bring blessings to anyone who uses it. There are lots of creative and smart people there who can take advantage of opportunities – I can even find them earning large amounts of income by taking advantage of these digital developments.Cryptocurrencies have become global - so anyone can take advantage of them regardless of regulatory clarity. I can find many Indian, Pakistani, Bangladeshi and some other poor countries users here - they are growing and getting benefits commensurate with their skills. It's just that - not everyone can take advantage of opportunities, especially when they don't have good interests and tend to resist technological developments.
I can see crypto and modernization actually doing these countries a massive service if they really push for it and no roadblocks from the government and the public is to arrive. Take for example Bhutan. Which is a mountainous country from the same region. They literally shouldn't have any business being this rich and despite that, they are the only carbon-negative country on the planet that I know of, and to top it all off, they are one of the fastest progressive countries in South Asia, thanks to their modernization program in 2005 that literally jumpstarted the country's economy. and they are also dabbling in crypto and bitcoin, they've got a couple mining rigs in there that do not take up too much of the country's resources.
So of course, should these countries be determined to actually do something about their economy, bitcoin and crypto could provide a solution. but this only works if they are really in it, and if they have the counter-agents to actually solve the climate issue.
So of course, should these countries be determined to actually do something about their economy, bitcoin and crypto could provide a solution. but this only works if they are really in it, and if they have the counter-agents to actually solve the climate issue.
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.
Dude, the development of a country's economy has no effect on the presence of Bitcoin in that country. Bitcoin is generally created to make it easier for people to make payments or transactions in the form of digital currency/Crypto, although many people use Bitcoin as a trading or investment method.My understanding, especially in South Asia, is that Bitcoin has no good or bad impact on the people there economically, but Bitcoin tends to have a positive impact on storing their assets, not economically, but it is positive for other things about Bitcoin, especially parts of AsiaSouth.
How bitcoin will affect south asian economies will generally depend on the country's government. If governments in asia legalize bitcoin can help boost their country's economy strict action by the government will be a hindrance for people to use bitcoin. South Asian countries are developing but not inclusively. Inequality is the biggest obstacle to development. Other countries that have Bitcoin legalization have relatively prosperous economies. No obstacle is created in the way of people's development. When the economy suffers everything becomes easier with bitcoin investment because nothing affects bitcoin.
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.
Bitcoin could create a few new jobs in these nations that could help the citizens of these nations earn a living. In my location, some youths learn diverse skills associated with cryptocurrencies and they are making money from them. Bitcoin can also attract investors to these countries which could also create employment opportunities. There are other online jobs that could also assist people from poor nations to earn bitcoin from accomplishing various tasks.
But when it comes to buying and hodling or trading Bitcoin, citizens of poor nations face so many challenges. They are limited by lack of funds to invest because of employment or underemployment. They also have to grapple with poor economic conditions, a lack of infrastructure such as power and internet facilities and corruption. The majority of the people in the area are thinking of how to survive and not how to invest because of poverty. Some young boys who were running a local Bitcoin exchange in my location were arrested by corrupt police officers who accused them of fraud. These young entrepreneurs were innocent but they were intimidated by the government officials and forced to pay bribes.
Bitcoin can reduces the stress of the people but I think that most of the people have not hold bitcoin yet because some of them lack interest due to lack of knowledge whereas most of them are unable to buy bitcoin due to higher cost. We are talking about buying bitcoin so buying is not easy as everyone says because large number of money is needed for it whereas the salaries in South Asian countries are not enough to carry out responsibility of home so they will hardly fulfil large amount needed for investment in Bitcoin.
Those whose bank balance is enough have already brought bitcoin because they know the success of bitcoin so many of them are saving bitcoin to transfer it to next generation as it will help their children to make their life easy. Finding a job is not easy therefore people often move towards cryptocurrency so when they find it useful so they will also wish to be used by their children.
Those whose bank balance is enough have already brought bitcoin because they know the success of bitcoin so many of them are saving bitcoin to transfer it to next generation as it will help their children to make their life easy. Finding a job is not easy therefore people often move towards cryptocurrency so when they find it useful so they will also wish to be used by their children.
There are many people who work hard and save money and they are looking to start a business or invest to change their lives...But doing business or investing in gold, real estate... will become too difficult for them when they need large amounts of capital, but bitcoin will be the solution for them.
Actually business is easier to make money, start a business doesn't have a big capital, you can start it from small. I've an experience to become a reseller, even though I didn't earn to big, but it's enough for me to save/invest.If I were someone who lack of money, I don't think I will dare to invest in Bitcoin.
Perhaps everyone has different thoughts. While you find business easier, for me, I find it more difficult than investing in bitcoin. I once opened a small restaurant and failed even though I had many years of experience working in the restaurant industry. I feel like doing business is really difficult and it's not as easy as I thought. Meanwhile, I find online investing more suitable for me and I am achieving success beyond my expectations and am satisfied with what I have achieved.
I do not advise people who are short of money or poor to invest in bitcoin. I just want to say that bitcoin is also one of many other opportunities that they can try if they are willing to step out of their comfort zone to challenge themselves.
India's definitely exploring their options in the crypto industry quite lately. Been seeing a lot of Indian projects and enterprises in the scene and that proves the point that the country's not unripe for crypto, they're very much ready to take it by their own hands so it seems. One of the most successful crypto digital marketing company's basing in the Indian territory as well, so there's that.
Although this doesn't cover the fact that prejudice and lack of education towards bitcoin in these countries are a detriment to the industry's success in South Asia. For the most part, it's either these people have no idea about bitcoin, or the impression that they have over bitcoin's negative, which is not good for business. I'm guessing an information campaign's due for coming in the region, with Bhutan leading the charge since AFAIK they're the most crypto-receptive country in the region.
Although this doesn't cover the fact that prejudice and lack of education towards bitcoin in these countries are a detriment to the industry's success in South Asia. For the most part, it's either these people have no idea about bitcoin, or the impression that they have over bitcoin's negative, which is not good for business. I'm guessing an information campaign's due for coming in the region, with Bhutan leading the charge since AFAIK they're the most crypto-receptive country in the region.
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.
It's very natural to hear that Bitcoin is an important topic in South Asian countries, they all want to change their fate. I have never visited South Asian countries but from what I hear the poverty rate is quite high, especially in very densely populated countries like India. Even in my country, many people are actually very curious about Bitcoin, their goal is of course to improve their economy.
btw, in South Asian countries, education about Bitcoin is still low, there are still many who do not update their knowledge of developing technology, even though if they get good education about Bitcoin, their economy will improve too. However, regulations regarding Bitcoin must also be paid attention to, if Bitcoin is still a problem there, people will have difficulty getting education about Bitcoin and its benefits.
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.
In this area, according to what I know, they have a rich history of culture, belief, knowledge,... but the weakness is that they have class differentiation in life and that is gradually changed, perhaps they need to have changed policies to take advantage of labor resources. As well as real estate planning, I have many friends who have traveled to this area. Their feedback is always impressed and overwhelmed by the architecture, culture,... but also shared that Perhaps the problem of rugged terrain affecting urban planning is also a big problem for this area. With bitcoin (crypto), I think for it to work for good purposes, the first thing to do is to improve people's knowledge, and that always takes time to adapt.
South Asian countries have a significant unbanked population. Bitcoin and other cryptocurrencies offer an alternative financial system that allows people without access to traditional banking to participate in economic activities. This has the potential to enhance financial inclusion in the region.
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