1. Cryptocurrencies Can Reduce Remittance Fees to Developing Nations.
2. Cryptocurrencies Can Give Marginalized Individuals Greater Access to Banking
3. Some Theorize that Cryptocurrencies Can Help to Reduce Corruption
4. Cryptocurrencies Have the Potential to Help Those Who Need it Most
Topic: Countries with weak economies can use cryptocurrency instead the dollars. - page 4. (Read 1427 times)
January 26, 2018, 03:07:59 PM
January 24, 2018, 11:29:26 AM
Using crypto currency as reserve for countries with poor economy cannot
be a guaranteed solution to economic viability and stability considering the
high volatility of crypto currencies.Hence, a planning government need not
use such platform as a guaranteed reserve for its economic stability.
You can only invest and trade in crypto currency with a budgeted amount.
be a guaranteed solution to economic viability and stability considering the
high volatility of crypto currencies.Hence, a planning government need not
use such platform as a guaranteed reserve for its economic stability.
You can only invest and trade in crypto currency with a budgeted amount.
January 24, 2018, 11:10:45 AM
In my own opinion, countries with weak economies can use cryptocurrency than dollar because of it's value and it can be use to change the countries' status, from weak to strong.
January 23, 2018, 08:15:26 AM
I think that would take a lot of time for implementation, knowledge of every people on that country about cryptocurrency and to begin with there should enough money of every people to invest on what cryptocurrency they will favor. There are many countries emerging to support it and hope in the coming years little by little it will be used by anyone in the world.
January 23, 2018, 07:25:03 AM
I'm afraid it won't be implemented in such countries.
Its too risky to depend on cryptocurrency and I don’t think government will really do this. We all know how volatile this market and profit is not guaranteed. In a third world country people can use cryptocurrency to improve their own lives and make a better their future bright.
You have a point. Well if ever this will not happen then there is nothing to worry because we can still earn good money even it will not happen.
January 23, 2018, 07:20:55 AM
I'm afraid it won't be implemented in such countries.
Its too risky to depend on cryptocurrency and I don’t think government will really do this. We all know how volatile this market and profit is not guaranteed. In a third world country people can use cryptocurrency to improve their own lives and make a better their future bright.
January 23, 2018, 06:29:51 AM
Maybe it is a possible thing to be happen if the government really eager to have crypto currencies for them.
January 23, 2018, 05:13:00 AM
Cильныe cтpaны живyт зa cчeт cлaбыx cтpaн.
Ecли пepexoдить oт дoллapa к кpиптoвaлютe, тo ФPC пoтepяeт cвoи пoзиции в миpe.
Ecли пepexoдить oт дoллapa к кpиптoвaлютe, тo ФPC пoтepяeт cвoи пoзиции в миpe.
January 23, 2018, 05:05:07 AM
I'm afraid it won't be implemented in such countries.
January 23, 2018, 04:43:52 AM
Absolutely yes, It is a good idea that the poor countries which have a weak economy can use cryptocurrencies. As well, If this happens, this will be a new beginning for the economy of many countries and this will positively affect many fields ( like, improvement of infrastructure, and a decrease in unemployment rate, multiple employment opportunities..).
In addition to that, the governments of powerful nations may not accept this solution as this may adversely affect the economy of these countries. In fact, I think that in the near future these digital currencies will be recognized by all governments, but this may be on terms because they want to control currencies and they are afraid to be used in prohibited things( like, drugs, weapons...).
In addition to that, the governments of powerful nations may not accept this solution as this may adversely affect the economy of these countries. In fact, I think that in the near future these digital currencies will be recognized by all governments, but this may be on terms because they want to control currencies and they are afraid to be used in prohibited things( like, drugs, weapons...).
January 21, 2018, 01:00:11 PM
I don’t think so that this option is likely may happen where in the countries which are not yet developed will use cryptocurrency instead of dollars in the world trade market.
They are not yet capable enough to embrace and accept this kind of opportunity since they are not yet technologically advanced which is the primarily requirement in their system.
They are not yet capable enough to embrace and accept this kind of opportunity since they are not yet technologically advanced which is the primarily requirement in their system.
hero member
Activity: 2660
Merit: 651
Want top-notch marketing for your project, Hire me
October 16, 2017, 02:38:01 PM
Yes, Christine Lagarde statement was truth and we both what happened in ,Peru, Venezuela,Zimbabwe etc. But bitcoin is helping people there right now. But, this hurt so many Bank CEO/investors and this is the reason some set of group are against bitcoin.
October 16, 2017, 12:52:19 PM
Countries with weak economies and unstable currencies can use not the dollars but the crypto currency as a reserve unit. With such a statement made at a conference on the 20th anniversary of the independence of the Bank of England, the managing director of the International Monetary Fund (IMF) Christine Lagarde.
What do you think? Is it possible?
Yes,it is. It seems like bitcoin it heaven sent because bitcoin have saved a lot of family from hunger in Venezuela this year. In Chile and Peru bitcoin help people scale through their country economic crisis. What do you think? Is it possible?
October 16, 2017, 12:43:49 PM
There is definitely also the reality that countries with a failing economy will likely also have such poor infrastructure that blockchain transactions cannot be initiated and tracked.
October 16, 2017, 07:17:32 AM
I am sure that States with weak economies will choose the tactics of expectations. They won't ban bitcoin but it will not prohibit the use of bitcoins. Their goal will be to collect taxes from bitcoin users and to gather information on them. In case you need to ban crypto economy, they will know who does it.
October 16, 2017, 05:26:48 AM
Adoption of bitcoin by countries with weaker economies could pose another threat as the expected effect could backfire. For being a weaker economy means the country's need does not matter in the scheme of things when it comes to world politics and in this case, if the world power decide to take a drastic step towards bitcoin, it then further worsen the already bad economy of the weaker country and that's why there would be a lot of skepticism in deciding whether to accept bitcoin or not even though they might know its an option to consider.
There are indeed many considerations for any country that has a weak economy to adopt bitcoin, although on the other hand it will certainly have a positive impact of legalization that for a good economic change for some users who have the ability and capital to make various efforts. in bitcoin, but other than that of course for those who do not know bitcoin will not benefit from such legalization.
October 16, 2017, 03:10:07 AM
Countries with weak economies and unstable currencies can use not the dollars but the crypto currency as a reserve unit. With such a statement made at a conference on the 20th anniversary of the independence of the Bank of England, the managing director of the International Monetary Fund (IMF) Christine Lagarde.
What do you think? Is it possible?
I did not heard anything about this news, nut may you are right. I have a question, buying bitcoin in this day is only being deal as a currency business and those people invest in bitcoin who have extra money to invest in bitcoin and make more and more money, how can the people with low income cay buy bitcoin and use it instead of dollars, because dollar is just a currency and bitcoin is a currency and business too? What do you think? Is it possible?
I think what he is saying is BTC to back their local currency. So their people will still use their own currency and have it's own value. I think it may be a good idea because BTC will go up in the next years, it will help poor nations to rise.
October 16, 2017, 12:38:45 AM
Adoption of bitcoin by countries with weaker economies could pose another threat as the expected effect could backfire. For being a weaker economy means the country's need does not matter in the scheme of things when it comes to world politics and in this case, if the world power decide to take a drastic step towards bitcoin, it then further worsen the already bad economy of the weaker country and that's why there would be a lot of skepticism in deciding whether to accept bitcoin or not even though they might know its an option to consider.
October 16, 2017, 12:27:48 AM
i think that is not possible as cryptocurrency fluctuatif of price always be the main problem even for bitcoin users themself and also to use bitcoin internet network is necessary so i don't think poor countries will able to faciliate every citizen on their countries with internet connections because to build internet network the cost is so expensive
October 15, 2017, 08:08:58 PM
This is how it works and we can’t do anything about it,, using dollars is a political tool and if not using it means the support from western countries especially from United States of America is void.. And taking that actions is bad for the government interest and economical relation to central banks.. It is more than money we’re talking here,, it is more than an alliances and dependency to one nation to another..
Jump to: