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Topic: Can Bitcoin help poor countries? - page 16. (Read 73888 times)

hero member
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November 15, 2016, 12:36:43 AM
There are some countries that have very limited access to bank transfers or paypal. Western Union and Bitcoin are the only viable options for a lot of third world countries.

In a country where access to bank transfer is limited, how are you going to convert your coins to fiat? Do you expect Bitcoin exchanges to function in a country where banks don't exist?
but i do not thing that there will be a single country where banks will not exist, to me in such poor countries where the facility of internet are available then these countries can get benefit from bitcoin,

Still, it's practical for them to use the banks or remittance services to transfer their money. Banks exist in almost all part of the world, as long as there are communities who needs their service, for sure a bank will put a branch there, or if not the community itself could make their own cooperative and start a small bank soon. But anyway, as long as people know how to use computer and internet, they will benefit from bitcoin if they want.
hero member
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November 15, 2016, 12:33:05 AM
There are some countries that have very limited access to bank transfers or paypal. Western Union and Bitcoin are the only viable options for a lot of third world countries.

In a country where access to bank transfer is limited, how are you going to convert your coins to fiat? Do you expect Bitcoin exchanges to function in a country where banks don't exist?
but i do not thing that there will be a single country where banks will not exist, to me in such poor countries where the facility of internet are available then these countries can get benefit from bitcoin,
full member
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it's showtime
November 15, 2016, 12:11:44 AM
There are some countries that have very limited access to bank transfers or paypal. Western Union and Bitcoin are the only viable options for a lot of third world countries.

In a country where access to bank transfer is limited, how are you going to convert your coins to fiat? Do you expect Bitcoin exchanges to function in a country where banks don't exist?

IF you can buy food, pay some bills, spend with your daily things, you don't need to convert the bitcoin to fiat...

Imagine a city moved by bitcoin... And well you can open an exchange that convert directly, you send bitcoin and receive it directly(cash).

We don't need banks.
legendary
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November 14, 2016, 10:59:26 PM
Can Bitcoin or any other altcoin help poor countries?
how? what can be done?
Nope if people have willingness to choose bitcoin for there own selves then they can help them selve by doing some small job in bitcoin and then if they have enough bitcoin to trade then trading is good income or time passes when don't have job bitcoin cna help people but not country it self.
How can you make this poor people to work in the bitcoin world? I know they are interested because they want to make extra money or to make their primary income here but how can you let them work when they do not possess the skills that a certain employer or a certain job would require.

The saying is always true, many are willing but few are chosen, therefore it cannot help the entire countries of the poor.
hero member
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November 14, 2016, 10:35:26 PM
Can Bitcoin or any other altcoin help poor countries?
how? what can be done?
Nope if people have willingness to choose bitcoin for there own selves then they can help them selve by doing some small job in bitcoin and then if they have enough bitcoin to trade then trading is good income or time passes when don't have job bitcoin cna help people but not country it self.
STT
legendary
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November 14, 2016, 09:59:42 PM
There are some countries that have very limited access to bank transfers or paypal. Western Union and Bitcoin are the only viable options for a lot of third world countries.

In a country where access to bank transfer is limited, how are you going to convert your coins to fiat? Do you expect Bitcoin exchanges to function in a country where banks don't exist?

Barclays withdrew from Somalia I think is one I remember, the reason being it was problematic ensuring the money transferred was not aiding illegal activity as serious as global terrorism. This causes problems for expatriates sending money home to support families.    I dont think the Fiat exchange is the sticking point exactly, with enough demand at least one trader would take bitcoin in exchange for food.   That trader can then use the bitcoin elsewhere, I dont doubt it promotes a hefty premium but so long as food is a large enough expense to bitcoin users then its useful without an absolute need to convert into fiat
Problem really is if the country lacks infrastructure or lacks population density to make bitcoin feasible, having to travel too far to find a trader would make the bitcoin not usable for its value except on trust which is not that likely.   Maybe with friends or credit type balances to clear it could work this slowly to transfer value.  Its not really the fault of bitcoin, it is digital only and requires good communication for its best use.   Dollar is just a piece of cotton potentially till a bank confirms its value still exists
hero member
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November 14, 2016, 09:45:10 PM
Can Bitcoin or any other altcoin help poor countries?
how? what can be done?
Bitcoin.can't develop a whole country but it can help the person who use bitcoin,who invest on bitcoin.by that poor country's people can make their life better and stable.And also government can take some steps to aware people the advantages of bitcoin so that people can make some earn to live nicely and thus a country can be changed.
I don't think that what Bitcoin you earn online is enough to make  an improvement to any person to its standard of living. Maybe it can improve your life if you earn .15 BTC per week anything below that can't really help you in your daily life. Also if you are looking Bitcoin as a side income it is perfect as it only take few minutes if you know where to look.
sr. member
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November 14, 2016, 09:38:13 PM
Can Bitcoin or any other altcoin help poor countries?
how? what can be done?
Bitcoin.can't develop a whole country but it can help the person who use bitcoin,who invest on bitcoin.by that poor country's people can make their life better and stable.And also government can take some steps to aware people the advantages of bitcoin so that people can make some earn to live nicely and thus a country can be changed.
sr. member
Activity: 434
Merit: 250
November 14, 2016, 09:29:03 PM
Only people can change the world doing actions...

The problem here is that bitcoin don't have any plan to this, we can take Bitland for example, they can register your land property however it have to pass by the government, so if the government is corrupt, it's useless and it's the same with any other way to help countries to grow.
sr. member
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November 14, 2016, 09:03:09 PM
Can Bitcoin or any other altcoin help poor countries?
how? what can be done?
I am not sure becouse to use bitcoin we need internet connection and electricity. Some poor country like Etiopia need to build the infrastucture first before they can use bitcoin.
full member
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November 14, 2016, 08:55:39 PM
You're right. For example America is rich but they still got homeless people, give them food and they will eat for a meal, teach them how to get food and they will eat for a lifetime. Even you agree or disagree Bitcoin do help poor countries, not all individual in that countries, if you all want to take this 'Can bitcoin help poor countries' in a very literal way so be it, just saying.
America isn't rich at all. Especially when you consider the insanely high number of their debt that is increasing with an astonishing pace.

People in America, to a certain extend also many other countries, are living from money that they don't actually have as they let their credit cards "speak" for them.

It's creating debt on top of debt, and that on top of even more debt. If you look at that, then it's no surprise that so many people there depend on coupons for food, benefits, and the list goes on.

Unlike the US government that is able to keep putting itself into more debt, where it basically can continue for ever, the normal people don't have that ability.

For them it ends up in a bad situation where they barely have any money for food, where some even end up homeless because they lost their job, etc etc etc...

Bitcoin can only help poor countries if the governments are open and supportive towards Bitcoin. And that's not the case.

If America is not a rich country at all then tell me a country that is a best example for my explanation, you know countries who has in debt. Our issue here is if do bitcoin help poor countries, and for me, it is yes, People that only sees negative to the world will live longer I guess Smiley

Everything in this world has it's own advantage and disadvantage, it's up to you where will you want to be or focus on. "Can Bitcoin help poor countries?", Yes, No, whatever it is, It's our opinion, no right or wrong.
If this judge, it turns out that poor people are to blame that they are poor. Though part of the way it is. Let elected into power those who will put an end to their poor life and not those who rob the latter. That did not help, and ashamed.
sr. member
Activity: 1442
Merit: 421
November 14, 2016, 08:39:51 PM
You're right. For example America is rich but they still got homeless people, give them food and they will eat for a meal, teach them how to get food and they will eat for a lifetime. Even you agree or disagree Bitcoin do help poor countries, not all individual in that countries, if you all want to take this 'Can bitcoin help poor countries' in a very literal way so be it, just saying.
America isn't rich at all. Especially when you consider the insanely high number of their debt that is increasing with an astonishing pace.

People in America, to a certain extend also many other countries, are living from money that they don't actually have as they let their credit cards "speak" for them.

It's creating debt on top of debt, and that on top of even more debt. If you look at that, then it's no surprise that so many people there depend on coupons for food, benefits, and the list goes on.

Unlike the US government that is able to keep putting itself into more debt, where it basically can continue for ever, the normal people don't have that ability.

For them it ends up in a bad situation where they barely have any money for food, where some even end up homeless because they lost their job, etc etc etc...

Bitcoin can only help poor countries if the governments are open and supportive towards Bitcoin. And that's not the case.

If America is not a rich country at all then tell me a country that is a best example for my explanation, you know countries who has in debt. Our issue here is if do bitcoin help poor countries, and for me, it is yes, People that only sees negative to the world will live longer I guess Smiley

Everything in this world has it's own advantage and disadvantage, it's up to you where will you want to be or focus on. "Can Bitcoin help poor countries?", Yes, No, whatever it is, It's our opinion, no right or wrong.
sr. member
Activity: 240
Merit: 250
November 14, 2016, 08:39:06 PM
First, it would not hurt to tackle corruption in the power of those countries that need help. This is very scary, and the main problem of all countries, which slowed down the development.
full member
Activity: 239
Merit: 250
November 14, 2016, 08:23:01 PM
It can help like example0 it cant help to most african countries but it can help to most poorest Europe countries in East Side so bitcoin will make heaven there Cheesy
For poor countries need to raise the level of knowledge and skills of existing workers in various fields. This means that they can provide for themselves all, if they can do it wisely.
full member
Activity: 179
Merit: 100
November 14, 2016, 08:09:16 PM
I can not understand how Bitcoin can help the poorest countries. This offer to chip in money, or there is a real opportunity for technology or production deployment.
full member
Activity: 140
Merit: 100
November 14, 2016, 03:10:47 PM
It can help like example0 it cant help to most african countries but it can help to most poorest Europe countries in East Side so bitcoin will make heaven there Cheesy
legendary
Activity: 1442
Merit: 1025
November 14, 2016, 03:07:59 PM
For me, yes, becuase Bitcoin currency serve as a currency of every country in the world. For example there is a task or service to be done that is paying bitcoin, there is no range of payment from where you came or what is your race. So for me Bitcoin do help poor countries just like us.
Your are right, in most of these poor or deveoping countries the famous payment methods like paypal or credit card are not available but bitcoin is available to everyone in the world even the poor countris can use it in making purchases and in receiving payments for goods and services they do offer. It means already bitcoin ecosystem helps people of poor countries.
hero member
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November 14, 2016, 11:07:26 AM
For me, yes, becuase Bitcoin currency serve as a currency of every country in the world. For example there is a task or service to be done that is paying bitcoin, there is no range of payment from where you came or what is your race. So for me Bitcoin do help poor countries just like us.
But have you think about the ways for the poor to do this task? I mean not many people acknowledge bitcoin so the popularity of bitcoin in poor countries is almost zero. And if they do know about bitcoin then how can they make money from it when they don't have the chance to buy themselves computers or just smartphones? Moreover, the poor usually tend to do something more practical so in my opinion, bitcoin can't give third world countries the help they want.
legendary
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Leading Crypto Sports Betting & Casino Platform
November 14, 2016, 11:06:59 AM
There are some countries that have very limited access to bank transfers or paypal. Western Union and Bitcoin are the only viable options for a lot of third world countries.

In a country where access to bank transfer is limited, how are you going to convert your coins to fiat? Do you expect Bitcoin exchanges to function in a country where banks don't exist?
hero member
Activity: 756
Merit: 500
November 14, 2016, 10:59:33 AM
BIG YES!!!
Actually, I think that the major reason why Bitcoin was created is to help the poor people and also teach them to gain financial freedom. Many testimonials that from being a poor people, they became rich just by using Bitcoin.

Though bitcoin maybe was made to provide a financial freedom to the people but i don't think satoshi had any thoughts like this in his mind that it might help any poor people or countries as while creating it he probably did not think that it would become so popular some day.
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