It could but it will take a decade.
I know because generally no matter how big poverty is, people are getting more opportunists, and alot of africans would do anything just to get a few extra bucks.
So even though they might not be technologically savy, they can learn it, and once it goes viral (social pressure on people earning money by it), it could be a big demand.
Imagine africans bartering with bitcoin, due to their crappy currencies overinflating. It could create a new economy right under our noses.
Topic: Can bitcoin help the world's unbanked? (Read 2454 times)
When I tried to buy bitcoins using digital platform I had a lot of headaches but when I tried to do this with money was very simple and easy and fast.
It would be possible Biticoins be the solution for people who do not have bank account or working he says illegally.
I see a great pontecial for it however also see a huge problems is a very volatile currency and much of its user wants to make a profit and therefore much speculation in this way is not safe for these people keep their capital in BTC.
What u think about this?
It would be possible Biticoins be the solution for people who do not have bank account or working he says illegally.
I see a great pontecial for it however also see a huge problems is a very volatile currency and much of its user wants to make a profit and therefore much speculation in this way is not safe for these people keep their capital in BTC.
What u think about this?
Yes, with bitcoin you have your own bank, very easy and more fast. but why always illegally? because bitcoin anonymous
yes bitcoin is volatile value because it's not fiat, but the risk is more than fiat if you want to invest on bitcoin. high risk = high profit.
I do not think so, the world without a bank, it is very difficult to save money and transact in real world
Yes correct. I don't think bitcoin or any other coins will replace banking system. It almost impossible to dream also.
Yes. In third world countries that do not have any central banks would skip the introduction of such a bank altogether and use Bitcoin. However, this will probably take some time yet. Not everyone may have the technological understanding needed to use Bitcoin, but hopefully by at least 2020 those third world countries would probably benefit having bitcoin as their currency.
Third world countries which do not have a central bank?
I doubt if such entities exist (except possibly if they have adopted the dollar)
Yes i think not only bitcoin but digital currencys can support unbanking world,but it has to be devloped some good services,especially mobile
Yes. In third world countries that do not have any central banks would skip the introduction of such a bank altogether and use Bitcoin. However, this will probably take some time yet. Not everyone may have the technological understanding needed to use Bitcoin, but hopefully by at least 2020 those third world countries would probably benefit having bitcoin as their currency.
I do not think so, the world without a bank, it is very difficult to save money and transact in real world
When I tried to buy bitcoins using digital platform I had a lot of headaches but when I tried to do this with money was very simple and easy and fast.
It would be possible Biticoins be the solution for people who do not have bank account or working he says illegally.
I see a great pontecial for it however also see a huge problems is a very volatile currency and much of its user wants to make a profit and therefore much speculation in this way is not safe for these people keep their capital in BTC.
What u think about this?
It would be possible Biticoins be the solution for people who do not have bank account or working he says illegally.
I see a great pontecial for it however also see a huge problems is a very volatile currency and much of its user wants to make a profit and therefore much speculation in this way is not safe for these people keep their capital in BTC.
What u think about this?
I highly agree, People is very safe using Bitcoin as a bank account , There plenty of methods which you can crypt nor protect your wallet using private / pub key
I think if a problem exists at the prices fluctuate, the value will be stable if it is adopted by the whole world, for bitcoin help the world's unbanked I think this will not be easy for a few decades forward what else to still lack the know people's digital currency
yes i can help the worlds unbanked. there are a lot of ways in which bitcoin can help the unbanked of the world. there are also ways through which you can control bitcoins through sms based phones. so you dont even need a smartphone to control your bitcoins. and its value will stabilize after it is properly adopted by the world..
I think there are services which offer controlling and managing bitcoins just through sms but it hasn't expanded much yet. A lot of countries are still not supported, however that could be overcome. Its not always necessary to have a smart phone to act smart, controlling btc with sms, no need of internet now. How awesome is that?
In theory this can be done, but we are still far away from this. But just a point that it can be done shows how awesome is Bitcoin and its true potential.
Can Bitcoin help unbanked? Of course it can. One day you will be able to send $10 wotth of Bitcoin to the farmer in Kenya and he will be using just a basic mobile phone with text messaging, nothing else.
"The root problem with conventional currency," wrote Nakamoto in 2009, "is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts." In contrast, everything in Nakamoto's system "is based on crypto proof rather than trust".
Source: 2009, Guardian and SATOSHI'S Diary.
Source: 2009, Guardian and SATOSHI'S Diary.
I agree with you, but it might just facilitate transactions online, but if you want to exchange $ must have a bank account
yes i can help the worlds unbanked. there are a lot of ways in which bitcoin can help the unbanked of the world. there are also ways through which you can control bitcoins through sms based phones. so you dont even need a smartphone to control your bitcoins. and its value will stabilize after it is properly adopted by the world..
I think there are services which offer controlling and managing bitcoins just through sms but it hasn't expanded much yet. A lot of countries are still not supported, however that could be overcome. Its not always necessary to have a smart phone to act smart, controlling btc with sms, no need of internet now. How awesome is that?
yes i can help the worlds unbanked. there are a lot of ways in which bitcoin can help the unbanked of the world. there are also ways through which you can control bitcoins through sms based phones. so you dont even need a smartphone to control your bitcoins. and its value will stabilize after it is properly adopted by the world..
according to me the bitcoin can help the world's unbanked, as they can buy bitcoins from a local trader and can enjoy it's benefits.
But how the people who don't believe on banks with their money can trust on bitcoin, whose value is so much fluctuating???
But how the people who don't believe on banks with their money can trust on bitcoin, whose value is so much fluctuating???
if they don't believe for bank they should start searching for an alternative in theory, this mean that bitcoin have a chance to accomodate their need, but maybe only as a investments for now, and not much as a currency
the currency aspect of bitcoin will get stronger with better stability, at that point those people will use it more
To be accepted more than an investment and also treated like a common currency, there are a lot of room for improvement for bitcoin and a lot of infrastructural, social and economical reasons which permit countries for completely adopting bitcoin, and once such issues are resolved and the world is prepared to go digital, we take them digital and change the market
according to me the bitcoin can help the world's unbanked, as they can buy bitcoins from a local trader and can enjoy it's benefits.
But how the people who don't believe on banks with their money can trust on bitcoin, whose value is so much fluctuating???
But how the people who don't believe on banks with their money can trust on bitcoin, whose value is so much fluctuating???
if they don't believe for bank they should start searching for an alternative in theory, this mean that bitcoin have a chance to accomodate their need, but maybe only as a investments for now, and not much as a currency
the currency aspect of bitcoin will get stronger with better stability, at that point those people will use it more
according to me the bitcoin can help the world's unbanked, as they can buy bitcoins from a local trader and can enjoy it's benefits.
But how the people who don't believe on banks with their money can trust on bitcoin, whose value is so much fluctuating???
But how the people who don't believe on banks with their money can trust on bitcoin, whose value is so much fluctuating???
if they don't believe for bank they should start searching for an alternative in theory, this mean that bitcoin have a chance to accomodate their need, but maybe only as a investments for now, and not much as a currency
the currency aspect of bitcoin will get stronger with better stability, at that point those people will use it more
according to me the bitcoin can help the world's unbanked, as they can buy bitcoins from a local trader and can enjoy it's benefits.
But how the people who don't believe on banks with their money can trust on bitcoin, whose value is so much fluctuating???
But how the people who don't believe on banks with their money can trust on bitcoin, whose value is so much fluctuating???
There is always different way to implement a solution for the unbanked has most of them are none tech individuals either a savings feature on a cell phone provider using bitcoin to keep cost at a low level or even on a supermarket where they could go and buy saving accounts with x amount of bitcoin it just like a paper wallet.
When I tried to buy bitcoins using digital platform I had a lot of headaches but when I tried to do this with money was very simple and easy and fast.
It would be possible Biticoins be the solution for people who do not have bank account or working he says illegally.
I see a great pontecial for it however also see a huge problems is a very volatile currency and much of its user wants to make a profit and therefore much speculation in this way is not safe for these people keep their capital in BTC.
What u think about this?
It would be possible Biticoins be the solution for people who do not have bank account or working he says illegally.
I see a great pontecial for it however also see a huge problems is a very volatile currency and much of its user wants to make a profit and therefore much speculation in this way is not safe for these people keep their capital in BTC.
What u think about this?
Yes I think that bitcoin is right now the status is at the same point but it will grow and achieve greater heights. People do have a problem with the online platform at first but this is , trust me, faster and more efficient than anything else. Many people have made huge profits outta it even after having an unbanked status.
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