Topic: Crypto can help poor nations a lot - page 3. (Read 969 times)

That would be an inaccurate assessment. Bitcoin is a speculative asset because it ticks a few boxes, volatility, investors intent to make quick profits by purchasing and exiting in a short time frame, and are generally non productive assets. You think Bitcoin would increase in value consistently, but that is not guaranteed by anything but it is just an observation from a trend. We should never invest just because it seems like it is a trend.

Isn't that is what Bitcoin all about? (a speculative asset) and a currency of course. Actually it is a currency as a main but it's just that many people are treating it the other way. I wouldn't blame them because Bitcoin's value is increasing consistently. Who wouldn't want to earn a decent profits easily anyway?

Investing is risky but a serious investor knows and accepts this already. Even those who aren't that serious and just rush, can take it as well, because they already buy it anyway, though some of them can only regret it in the end, especially if the final outcome is not successful. With what is said earlier that Bitcoin can provide decent profits, it is actually a big help for those who are living below the poverty line. If the country's own currency is not performing well, I think Bitcoin can also be used as an alternative to them.

In between stable coins and Bitcoin as a currency means for cross-border payments or transactions, Bitcoin is the winner here, because we all know that stable coins are centralized and a lot of factors can interfere with us. It's so hassle. Stable coins still has their own edge against Bitcoin and that is they are very stable.

Although that it's a fact that it can't help to remove poverty in all of the poor nations, the people that are engaged with it are having more opportunities. Just like in projects that generates new jobs and as total new economy. That's how it goes in general although many opportunities are in different forms. Many don't like the idea that there are full time airdrop people but to be honest, I've seen a lot of them in the past and even until now and fortunately, they're able to survive with the little that they have.

Success rate there is quite small and that's why they shouldn't just stick to it but to find more and better opportunities once they're able to make money from it. So, in general, this is about having a new form of source of income from those nations and that's helping each individual to have a better personal economy and uplift their lives through earning crypto in various ways.

Cryptocurrency is not a money generator or wealth creator,  if you are poor their is nothing cryptocurrency can do to change one from being poor to become rich. If cryptocurrency is a way to make people rich by now we should be having just few persons in the world that is poor. Cryptocurrency is just like an helper to add value to the money we already have.

Firstly, if you treat Bitcoin like a speculative asset, then prepared to be burned. It isn't something for people that are living below poverty line or governments with low GDP to grow in.

In terms of business investments, even cross border ones; It probably wouldn't be that straightforward because funding is one thing and having sustainable FDI is another. Most of the countries living under the poverty line has fairly poor governance, economic stability or business prospects. These are the key factors that investors have to consider and hence that's why companies or investors are generally more interested in areas where they are able to have a stable foothold to grow their businesses or invest in.

I find that it would benefit more with Bitcoin or even better, other stable coins being a more sustainable form of transaction currency to facilitate more fluid and ease of local and cross border capital transfers.

This is really good and therefore you should promote crypto.

It can help to address inequality and improve living standards in poor countries, being of benefit to everyone. 

Let’s discuss today about Crypto and how it can extremely help poor nations.

Let's discuss crypto today and how it could help poorer countries enormously.
We all know about crypto, how it is still very new and it is very advanced by technology, but also requires a technical infrastructure which is not available in all poor countries.

It is important to have expansion of infrastructure, and when it happens, crypto is also becoming more famous in more and more poor countries.
Because crypto is global and if the standard of living in New York is very high and an apartment there is very expensive, you can get little value from it despite many cryptos. The situation is quite different in poorer countries, where it is very easy to achieve a lot with little money and therefore It's a globally averaged standard where crypto helps poorer countries disproportionately. This is really good and therefore you should promote crypto.

It can help to address inequality and improve living standards in poor countries, being of benefit to everyone. 

Ok I agree with you but what I think from my point of view is that bitcoin is a coin to think about after gold. Gold is not a property it is a resource. Property is destroyed but wealth is not destroyed. Bitcoin is one such coin that can expect good things in its future.
When it becomes valid, its very good side will be noticed. If formalized, it will have an impact on the country's economy. When it gets legalized, the government will bat on it and from here the government will have earnings. Apart from that, when it can be used in business transactions, it will benefit from it.
When it can be fully utilized then positive aspects can be observed from all aspects. It is much needed to keep pace with the developed world. Hopefully it will be legalized in line with the developed world and everyone will benefit from it.
But it will not take much time to happen so soon. Managing Bitcoin is not so easy, one has to come forward from many aspects to manage it. But because it is possible for me, it will be possible in the future

There are some ways Bitcoin can help poorer countries, but not all may work in all cases.

The "El Salvador way" is mainly to try to attract investments from foreign Bitcoin-related companies. I believe this approach will only work for small countries, where even a few investments by large crypto firms could impact the country's GDP. And we still don't know if it worked in the case of El Salvador. I've still not really seen big exchanges or other crypto firms establishing themselves in the country. But at least their reserves are growing

For other countries, of course the "crypto economy" can bring opportunities for local startups and entrepreneurs, like @Pokapoka124 wrote. Another example are ICOs. While most will think about scams when they hear that word, if accompanied by adequate investor protection measures, it can be a cheap and efficient tool for fundraising for local companies, with potential global sourcing for the funds. I like for example the approach they took in the European Union: if you present a whitepaper in a certain format informing your potential customers -- a simplified "prospectus" -- then you can fundraise money via ICOs. This makes scams and rugpulls much more difficult.

In general a crypto-friendly regulation in poorer countries can benefit the local economy more than in rich "industrialized" countries because it allows local entrepreneurs to take part of a globalized technology sector. Trying to find financing from global capitals for a African, Asian (outside the "tech hubs" like South Korea or Singapore) or Latin American company is often quite difficult, the crypto sector can simplify that task. It's a pity for example that the Central African Republic scaled down their Bitcoin and crypto initiatives (even if the first approach may have been fueled by corruption).

One thing you need to know is that crypto doesn't perform any magic. If the country is poor, the first thing that should be done is for the government and its citizens to help them upgrade to a certain level where they can help themselves.
 
If you are living in a poor country, how can you afford to buy the crypto that you think can be used to come to the person's aid? Crypto is not always the solution to everything. No doubt it can work for some when they spend a few pennies picking a few shitcoins. Luck can be on their side, and it will be a life-changing story, but it's not always like that.
 
Crypto doesn't eradicate poverty; sometimes it can even make you poor if you lack the proper knowledge, but if you have it and also have the right resources, you can also make a fortune out of it.

In my opinion there is no guarantee for poor countries to be able to become developed countries because they are involved in crypto and I think it would be more accurate for you to mention bitcoin because in this discussion thread bitcoin maybe you mean bitcoin or not? because in general, in my opinion, crypto is all-encompassing because of course there are various types of crypto.

In my opinion, of course a country has the potential to make progress in terms of the economy if its people invest or are involved in the crypto world, but of course the most important thing is that it must be supported by the government because with the support of the government there will be a smooth flow for people to get involved in the crypto world. but of course in this case it depends on the interest of the community and the extent of the community's insight into bitcoin because of course without the insight that the community has then it is very difficult for the community to make a profit even though they are involved in the crypto world because of course the important thing is profit because if for example they lack knowledge and are involved In the crypto world, it will be very difficult to make a profit and sometimes there are even losses.

But of course, if the government holds a program so that people learn about crypto and blockchain, there will be potential for the economy to progress and the country will have the potential to continue to experience economic improvements.

However, for poor countries that adopt Bitcoin, of course there is at least the potential for the country to experience economic progress.