BTC is not human, someone have to use it right. - page 2.

CageMabok

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Quote from: Crypt0Gore on August 17, 2024, 07:51:27 AM

I have read few posts about how crypto and BTC can change the country for the better, and I fully agree to this but what if the leaders of the country are all corrupted? In this case I don't expect Bitcoin to help a bit, the leaders will find ways to start using crypto to their own advantage, maybe embezzlement of the country's fund.

If your leaders are corrupt don't bother trying to force them to do anything that will make the country grow using Bitcoin and crypto, it is not going to work.

Bitcoin is not the solution to countries with high poverty rate if the leaders are all corrupt.

Corruption is a disease that must be eradicated as soon as possible if it has occurred in a country because any development that will be planned in a country will never run smoothly if the leaders themselves still like to corrupt state funds. And a country that still has corruption in its government system will certainly not be suitable enough to use anything including the use of crypto and Bitcoin. Because its citizens themselves are certainly still in poor conditions and the development of Bitcoin use in the country will certainly not be significant enough because almost everyone still has to think about their daily needs to fill their stomachs.

knowngunman

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Quote from: Crypt0Gore on August 17, 2024, 07:51:27 AM

If your leaders are corrupt don't bother trying to force them to do anything that will make the country grow using Bitcoin and crypto, it is not going to work.

Bitcoin is not the solution to countries with high poverty rate if the leaders are all corrupt.

I think I'm missing something here, when did we believe bitcoin will solve poverty problem even when the leaders are not corrupt?

As far as I know, bitcoin was not specifically created to combat poverty problems and has no business with bad/corrupt or good leaders. It's just a currency that gives you financial autonomy to control your own money without government and their agents (banks) interference.

When you talk about poverty or bad leadership, it's entirely a different discussion.

ancafe

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Quote from: Crypt0Gore on August 17, 2024, 07:51:27 AM

I have read few posts about how crypto and BTC can change the country for the better, and I fully agree to this but what if the leaders of the country are all corrupted? In this case I don't expect Bitcoin to help a bit, the leaders will find ways to start using crypto to their own advantage, maybe embezzlement of the country's fund.

If your leaders are corrupt don't bother trying to force them to do anything that will make the country grow using Bitcoin and crypto, it is not going to work.

I am not so sure that bitcoin can save a country or change it, although if you look at El Salvador as the closest reference that makes all the difference. Bitcoin can save individuals when they are able to take advantage of it while the country must take the approach that El Salvador did. But if the country does not dare to take the approach that they did then bitcoin will not be of any use to the country. Moreover, there are many cases where leaders become very corrupt with the financial resources generated, especially when talking about taxes that can be applied to crypto.

Countries can generate a level of income from legalizing crypto but they must create binding rules because if they do not do it then it is difficult to achieve like El Salvador. The question is are some countries willing to do that? and how they can try to change some of the rules regarding fiat as one of the country's currencies.

rat03gopoh

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Quote from: Crypt0Gore on August 17, 2024, 07:51:27 AM

Bitcoin is not the solution to countries with high poverty rate if the leaders are all corrupt.

I just thought of a scenario in which people can achieve a certain level of privacy with Bitcoin where the government will not charge people too much tax and as a result reduce the state revenue. Corruption may be decreased in nominal terms. just a shallow thought. hahaa

kryptqnick

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Bitcoin is a tool, so it can be used and abused depending on who's handling it. But Bitcoin doesn't necessarily need to be a part of the top-down approach. People can adopt it themselves, without governmental instructions and oversight. It won't fix systemic issues, but those who use it might be able to escape hyperinflation of fiat or unreliability of banks (if these issues are present).
As for corruption, I believe it's a societal issue, and it must be worked on starting from school education, to foster intolerance and despise toward corruption. I come from a country where corruption is a huge problem, and I can tell you it's not just about 'corrupt leaders', unfortunately. It's about a high degree of toleration of corruption, cheating and casual rule-breaking on all societal levels.

mirakal

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Bitcoin is just a tool, it won’t be the overall solution to poverty. The solution comes from the leaders of the country, and how it provides privileges and opportunities to the people so they can get rid of poverty and live life comfortably and meaningfully.

While bitcoin can be a reliable currency, nevertheless it should also be well introduced as a profitable investment. But I doubt if this will be possible because if bitcoin provides a lot of profit opportunities, the country’s leaders will be the one to first benefit it that’s why they become richer and richer, while leaving the citizens still combatting poverty.

nakamura12

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I agree that bitcoin is not the solution for a country that wanted to get out of poverty because it is not the reason why bitcoin is created. We can read it in the whitepaper that it is not poverty the reason why Satoshi Nakamoto decided to create bitcoin. I don't know why many people think that it is the solution when the real solution should be getting rid of the problem. We all know that bitcoin and other cryptocurrencies are volatile so it a country may end up more problems if a country lose profit on investment in bitcoin.

ajiz138

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If the leaders are corrupt then it will not make the economy grow, they think of their own interests even if bitcoin has been made a currency they will easily embezzle government funds as they please.

But they can get out of poverty with the existence of bitcoin as long as they know how to work to get it then this will not involve the government bitcoin is freedom even if the government prohibits the use of bitcoin you can still have it.

darkangel11

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What OP is saying is pretty obvious as no financial instrument will help a corrupt country. The only thing that can help is getting rid of the root of the problem, which is corrupt government. The problem is that a widespread corruption is hard to fight because as an honest politician you find yourself facing a wall everywhere you turn and enemies behind every corner.
That said, bitcoin isn't a bad choice. It's not a miraculous solution for all problems, but it's a step in the right direction.

iBaba

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Quote from: Crypt0Gore on August 17, 2024, 07:51:27 AM

Bitcoin is not the solution to countries with high poverty rate if the leaders are all corrupt.

I have never had the kind of thinking that Bitcoin will need the validation of a leader of any country to either thrive in the country or boost the economy of the country as well as the standard of living of the country people. I like to refer to bitcoin as the 'Grassroots Currency' because it doesn't require any government to function or circulate but only requires your individual interest and this is why amidst the news and propaganda we've been facing over the banning or restrictions of Bitcoin within the crypto community of some countries, it has only grow up in number of users within those countries anytime the government fights it.

The government is a system that's built to have a monopolistic or if you like, centralized approach to everything including the financial aspect of people, yet bitcoin is an opposite of such practice because bitcoin grants freedom to the beholders and brings about a decentralized approach of financial systems which makes it extremely difficult for the government to destroy.

Pandu Geddon

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Quote from: Crypt0Gore on August 17, 2024, 07:51:27 AM

Bitcoin is not the solution to countries with high poverty rate if the leaders are all corrupt.

if the problem is corrupt officials, then before developing a system or adopting Bitcoin and the Blockchain system, the state must first prepare a supervisory body before implementing the system.

officials who still commit corruption are not because they are still lacking financially. but because there are opportunities and loopholes in the system that is running. moreover, if caught, the punishment is not commensurate or not scary for corruptors.

it is not Bitcoin that should be blamed for being used as a tool for corruption. but the corrupt brains that must be cleaned.

Zoomic

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Bitcoin alone cannot take any country out of poverty. A country who approves of Bitcoin's adoption can only use bitcoin as an economic tool to fill up some lapses in some vital sectors of the economy in order to make things easy for it's citizens. A country with high rate of poverty needs more than just Bitcoin to actually reduce poverty in their country. They need to invest in various sectors like education, agriculture, mineral resources and try as much as possible to create employment opportunities or encourage entrepreneurs.

For a country with corrupt leaders and corrupt citizens too, they need to purge their minds of all forms of corruption first before even thinking of adopting bitcoin. Bitcoin is not a magic coin that does the extraordinary, people still need to put in their best first so they can truly enjoy bitcoin.

348Judah

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Quote from: Crypt0Gore on August 17, 2024, 07:51:27 AM

I have read few posts about how crypto and BTC can change the country for the better, and I fully agree to this but what if the leaders of the country are all corrupted? In this case I don't expect Bitcoin to help a bit, the leaders will find ways to start using crypto to their own advantage, maybe embezzlement of the country's fund.

This is one of the misconceptions some are having towards bitcoin, this is not a digital currency that is aimed at perpetrating illicit activities like financial fraud and it's clear that it's not a safe haven for scammers to hide, despite that there is high demands for one's privacy with the use of this same currency.

Another thing you may have to consider here is the nature of how bitcoin network operates, it can't be centralized because its working under a decentralized network, everyone interested to invest in bitcoin on his own can willingly adopt it use and invest without having to go through central authority.

uneng

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Quote from: Crypt0Gore on August 17, 2024, 07:51:27 AM

Bitcoin is not the solution to countries with high poverty rate if the leaders are all corrupt.

Not only the leaders, but the population as well. If the country has corrupt leaders, it's because the local citizens put them on the power positions where they are through democratic elections. Bitcoin is a neutral tool which can be used for the good or evil, depending who is using it, and what their purposes are. Bitcoin alone can't do miracles, but it certainly can help nations, groups of people and individuals who want to thrive in an ethical way in life, aware that abusing others won't take anyone to a good place futurely.

Thankfully you don't need your corrupt leaders or countrymen to adopt and be benefited by Bitcoin, due to the decentralization characteristic. Therefore, don't worry too much about others, do your part and reach as far as you can conscious your methods aren't the same they use to progress in life and be proud of yourself for that.

retreat

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Quote from: Crypt0Gore on August 17, 2024, 07:51:27 AM

Bitcoin is not the solution to countries with high poverty rate if the leaders are all corrupt.

That's absolutely right, Bitcoin will not be able to help a country when its government is corrupt from the start, no matter what regulations are given by the government, in the end Bitcoin will only be a "display" to deceive people so that their country looks more sophisticated, when in fact what happens is that they do not fully understand what Bitcoin is and how they can use it for their needs. Bitcoin is a transaction tool, it never guarantees that it can help someone's economy, so never put your hopes in Bitcoin that it can help your country's economy because its price still tends to be volatile and there is no guarantee that the investment you make today can be profitable in the next few weeks or months.

glendall

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Quote from: Crypt0Gore on August 17, 2024, 07:51:27 AM

Bitcoin is not the solution to countries with high poverty rate if the leaders are all corrupt.

Bitcoin is not a solution for poor countries, but Bitcoin is a solution for individuals, not countries. If the leader is corrupt from the start then there will be no change at all because corrupt leadership will continue to exist in the next leadership.
So it's useless for you to resolve Bitcoin for your country's leadership

Kelward

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Quote from: Crypt0Gore on August 17, 2024, 07:51:27 AM

If your leaders are corrupt don't bother trying to force them to do anything that will make the country grow using Bitcoin and crypto, it is not going to work.

Bitcoin is not the solution to countries with high poverty rate if the leaders are all corrupt.

There's no need to force or advocate for your country's leadership to adopt Bitcoin on a national level, as you said it won't change much if the leadership is corrupt and lacks vision. Bitcoin was created for the holders freedom and privacy and it's doing very well in the hands of individuals and institutions that are proactive and knows it's worth as a valuable asset. Infact governments don't need to hodl Bitcoin for it's price to continue to reach new ATH price, so it's anybody's lose including countries that can not be truthful to themselves and hodl the store of value.

anarkiboy

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Quote from: Orpichukwu on August 17, 2024, 09:51:28 AM

And you as a person, why will you make your bitcoin address public for the government to link your identity into it, knowing fully well that all they will need is to control how you spend it, monitor every bit of transaction you make from it, what they are for, etc.?

It's better for you not to make the wallet public than to start trouble that will take time and careful planning to get out of it. As long as censorship is not done on the bitcoin blockchain, tinted coins can still be spent if you know how to go about it.

The part that you have omitted while quoting me answers your question.

Marvell1

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Quote from: Crypt0Gore on August 17, 2024, 07:51:27 AM

Bitcoin is not the solution to countries with high poverty rate if the leaders are all corrupt.

If the cause of a country falling into poverty is corruption then the government needs to find a solution to overcome corruption, using bitcoin in this case will not help their economy or help them fight corruption.

I agree with you, I also saw some threads giving the idea that we should use bitcoin to alleviate poverty and fix unemployment in a country. But honestly, it's all just unnecessary hype, I don't think bitcoin can do those things. To be able to improve the economy is not a simple matter and takes a lot of time, we need to solve corruption, employment, inflation...can bitcoin do those things? Can Bitcoin eliminate corruption? Can Bitcoin create jobs and income? No, it is just a currency, a payment method, nothing more and nothing less.

Onyeeze

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Quote from: Crypt0Gore on August 17, 2024, 07:51:27 AM

I have read few posts about how crypto and BTC can change the country for the better, and I fully agree to this but what if the leaders of the country are all corrupted? In this case I don't expect Bitcoin to help a bit, the leaders will find ways to start using crypto to their own advantage, maybe embezzlement of the country's fund.

If your leaders are corrupt don't bother trying to force them to do anything that will make the country grow using Bitcoin and crypto, it is not going to work.

Bitcoin is not the solution to countries with high poverty rate if the leaders are all corrupt.

Think I have said this kind of thing before, bitcoin is digital currency that's decentralized, but I know very well that cryptocurrency mostly Bitcoin has to with precaution and if you are looking for a way to elevate the economic down fall of your country don't go through investment of Bitcoin, except that your expectations of achieving profits for your investment in bitcoin that you're investing for bitcoin you do invest for your country will last for fifteen years to twenty years, because investment of Bitcoin is not something you can make a profit immediately you invest on it, if the management of the country can agree for long-term investment I think that it will help in future to make economic situation of a country to be alright.

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