BTC is not human, someone have to use it right. - page 3.

Fiatless

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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.

Even without corruption, Bitcoin is not still the solution to poverty. Without the right economic policies nations will still be underdeveloped. If the government fails to handle inflation, illiteracy, and insecurity, Bitcoin will do little or nothing. Apart from corruption, poverty can be reduced by industrialization, economic diversification, and technological advancement.

Bitcoin could help a country to get additional revenue if the government, businesses, or citizens are involved in it. It could also attract crypto investors to the country if the government makes friendly laws, and it could help reduce the cost of international payment transactions.

serjent05

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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.

At least Bitcoin help the citizen to financial inclusion. No matter how corrupt the government is, the individual is responsible for his well being. The improvement and the progress of a citizen's financial journey is dependent on his own efforts. The government may be corrupt but the personal financial situation of a person is due to his action.

I agree that to be able to take advantage of BTC, it should be use for its purpose and as long as the government don't ban Bitcoin, citizen can utilize its features to create financial opportunities . The government won't work for us to have food on the table or make us wealthy, it is our effort to make these things to reality.

SquirrelJulietGarden

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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?

If your government and their leaders, staffs are all corrupted, you can not change them as a single person. To change it, you need to have nationwide efforts from majority citizens in your nation. If it's not such time, you can let it be and focus on yourself. Governments can be corrupted but they can not steal your bitcoin in your own non custodial wallets. It's one big reason for you to choose Bitcoin to store your fund safely.

Quote

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

It can not help your country but it can help you, as a single person if you see strength of Bitcoin and know how to invest in bitcoin, and store it in a right way. What is a right way?

Use open source non custodial wallet for storing your bitcoin and make sure you back up your wallet in a right way as well.

How to back up a seed phrase

Antotena

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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.

Anytime I see people saying that the government doesn't like Bitcoin and crypto because of the concerns of money laundering, I just laugh it out. That's exactly what majority of them does but wouldn't admit doing it. Before, when an allegations is written on a politician that looted money, the money are always trace to business model money laundering through fiats with many accounts related to their own families or people not even close to them but now, most of them don't keep the money in banks, they quickly use it to buy crypto.

However, where is an advantage, there is a disadvantages but the advantage of Bitcoin is far more than what are been seen as a threat. If the government want Bitcoin to work, it's going to work and it will give audience to public how money are been used and spend. People can analyze chain on transactions and how politician loots money and the laundering will become more difficult to do as everyone attention will be on them nationwide and globally.

Orpichukwu

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Quote from: anarkiboy on August 17, 2024, 09:23:32 AM

Quote from: BitcoinGirl.Club on August 17, 2024, 07:55:14 AM

They can be corrupted but with Bitcoin you have your freedom. Your money is not in their hand, they can never freeze it, they will never know what you have unless you failed to protect your privacy.

Government does not need to freeze your Bitcoin funds, if they know your Bitcoin address they can prohibit you from transferring those funds under threat of fines and jail.
You can try saying you lost your keys in a boating accident but then they will flag this Bitcoins and anyone who will try to use it will be in trouble (tainted coins).

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.

BitMaxz

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Why would you bring leaders if anyone can use Bitcoin?
Look leaders don't know much about technology and anyone can use Bitcoin it doesn't matter if the leaders are corrupt.
Like the above said Bitcoin is freedom anyone can use it without relaying to country leaders and no government would able to hold your account since your Bitcoin is your own bank.

Honestly, I don't think they can stop crypto and Bitcoin almost all countries are using cryptos they can ban them but it's just temporary, and later people are still using it.

anarkiboy

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Quote from: BitcoinGirl.Club on August 17, 2024, 07:55:14 AM

They can be corrupted but with Bitcoin you have your freedom. Your money is not in their hand, they can never freeze it, they will never know what you have unless you failed to protect your privacy.

Government does not need to freeze your Bitcoin funds, if they know your Bitcoin address they can prohibit you from transferring those funds under threat of fines and jail.
You can try saying you lost your keys in a boating accident but then they will flag this Bitcoins and anyone who will try to use it will be in trouble (tainted coins).

By using Bitcoin you are already failing at privacy as it is a transparent blockchain that anyone in the world can see and it's very easy for government to attach a name to each coin as most coins are traded on regulated exchanges with KYC in place.

The only way out of this hell-hole is to use privacy by default project like Monero, once you get out of exchange, they no longer know what is happening with the coins.
If you really want to have transparency then you can share your view-only keys with anyone you like or generate proof of funds.

BitcoinGirl.Club

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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.

They can be corrupted but with Bitcoin you have your freedom. Your money is not in their hand, they can never freeze it, they will never know what you have unless you failed to protect your privacy.

Crypt0Gore

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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.

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