People think that Bitcoin is so easy - just download a wallet and use it, but in fact there are many requirements that people in extreme poverty and harsh conditions, like African warzones, can not meet. You can't use Bitcoin without Internet and some sort of electronic device, which already puts millions of people away, then you also need education - basic computer literacy, knowledge of english are bare minimum, but to use Bitcoin effectively a more advanced knowledge is required, otherwise people risk losing their money to malware, fake wallets and such.
So, while some people can use Bitcoin in those zones, and get benefits from it, when they need to safely store and move money, or hedge against weak local currency, Bitcoin can't be adopted on a big scale.
Topic: cryptocurrence progressing in poor African countries full of wars? - page 2. (Read 445 times)
June 30, 2019, 02:34:34 PM
June 30, 2019, 01:47:19 PM
how are poor African countries with wars benefit in cryptocurrecy system or blockchain tecnology ?
Crypto It's an easy way to carry your wealth to other countries without any complications.
Now imagine choosing gold over crypto, it's easy to spot anyone carrying gold, but it's hard to tell if you own cryptocurrencies and also, most people in Africa are unbanked, being honest there aren't too many options to protect your wealth in Africa
June 30, 2019, 08:58:59 AM
how are poor African countries with wars benefit in cryptocurrecy system or blockchain tecnology ?
it's hard to imagine what you say, where we know crypto needs a good internet connection, what about poor and warring countries that can make crypto transactions perfectly. obviously there will be a problem but clearly if used for storage, surely crypto is very safe and very reliable. June 30, 2019, 07:57:39 AM
Just like every poor country can benefit. As means to conserve value.
In countries where really inflationary rates it's great, just like the fiat of a developed country. But if it turns out you like innovation as well you can put in your grain of sand towards improving the technology and making it grow.
Everything needs to mature and grow because the best possibilities become available.
In countries where really inflationary rates it's great, just like the fiat of a developed country. But if it turns out you like innovation as well you can put in your grain of sand towards improving the technology and making it grow.
Everything needs to mature and grow because the best possibilities become available.
June 30, 2019, 07:31:45 AM
If wars were inflicting in a country then I guess online things would not be possible if war is breaking loose, But in a poor country that has poverty and affliction I guess this can make a downtrend economy to sure struggle in gaining momentum, Where this kind of technology is uncontrollable by the government they can sure use its transaction for their benefit,
That is why the banks and the government call the system off cryptocurrency broken because there is no stability with their value, But that is why investors are getting with the platform because of its volatility and the financial freedom that it can give to certain individuals, But if they can truly work it out correctly.
That is why the banks and the government call the system off cryptocurrency broken because there is no stability with their value, But that is why investors are getting with the platform because of its volatility and the financial freedom that it can give to certain individuals, But if they can truly work it out correctly.
June 30, 2019, 05:18:51 AM
Government can control your bank accounts , when the war is going on they can do anything and tamper with it , but no one can tamper with cryptocurrencies, simple reason:- because they can't .
They don't hold the key to it , they are not in control of it.
During war it is extremely important to have someone to help you out with that time , financial things are bound to fall , Bitcoin on the other hand is something that is related globally thus it would still flourish and you can still make some profit even if the situation at home is bad.
They don't hold the key to it , they are not in control of it.
During war it is extremely important to have someone to help you out with that time , financial things are bound to fall , Bitcoin on the other hand is something that is related globally thus it would still flourish and you can still make some profit even if the situation at home is bad.
Whether there is war or not, I don't think Bitcoin and Crypto really do not carry and are not affected by things like that.
Because basically the cause is the situation in the country. We know today that bitcoin is often a trading tool, but as long as it doesn't change completely in global trade, I don't think it can affect more
June 30, 2019, 05:11:31 AM
The primary use case for Bitcoin in this war scenario is to protect people's wealth, because they can convert their wealth into Crypto currencies to protect it's value from the depreciation that would occur, when local fiat or reserve currency's value plummet.
Bitcoin is also borderless, so even if the country place restrictions on the amount of currency that can be taken out of that country, people can still convert their wealth into Bitcoin and flee their home country with all their wealth and not just the portion that the government allow.
Why should your personal wealth suffer due to politicians and governments mistakes?
Bitcoin is also borderless, so even if the country place restrictions on the amount of currency that can be taken out of that country, people can still convert their wealth into Bitcoin and flee their home country with all their wealth and not just the portion that the government allow.
Why should your personal wealth suffer due to politicians and governments mistakes?
June 30, 2019, 04:29:25 AM
how are poor African countries with wars benefit in cryptocurrecy system or blockchain tecnology ?
The main financial issue in the African countries is that there is not parity in wealth distribution. Bitcoin or any other cryptocurrencies doesn't have the power to resolve this issue! The only good cryptos can do is that people will have control to their own wealth where government can't interfere! However, the main reason why majority of the African countries are in bad state, is the failure of their governments. Otherwise, Africa sits on the richest mineral and diamond deposits, they can be the richest continent on earth. But due to failed administration, they have become the poorest continent! Blockchain or cryptos can't do much unless the governments want it, apart from having control on their own wealth!
June 30, 2019, 02:52:46 AM
how are poor African countries with wars benefit in cryptocurrecy system or blockchain tecnology ?
In time of war, crypto currency will help people to hide their money or something like civil war , this gonna be the exact currency to convert for those who have plenty of money , since all you save and keep is private keys of their wallet .
June 30, 2019, 02:20:42 AM
how are poor African countries with wars benefit in cryptocurrecy system or blockchain tecnology ?
In time of war, crypto currency will help people to hide their money or something like civil war , this gonna be the exact currency to convert for those who have plenty of money , since all you save and keep is private keys of their wallet .
June 30, 2019, 01:41:53 AM
Government can control your bank accounts , when the war is going on they can do anything and tamper with it , but no one can tamper with cryptocurrencies, simple reason:- because they can't .
They don't hold the key to it , they are not in control of it.
During war it is extremely important to have someone to help you out with that time , financial things are bound to fall , Bitcoin on the other hand is something that is related globally thus it would still flourish and you can still make some profit even if the situation at home is bad.
They don't hold the key to it , they are not in control of it.
During war it is extremely important to have someone to help you out with that time , financial things are bound to fall , Bitcoin on the other hand is something that is related globally thus it would still flourish and you can still make some profit even if the situation at home is bad.
June 29, 2019, 04:21:55 PM
how are poor African countries with wars benefit in cryptocurrecy system or blockchain tecnology ?
Crypto It's an easy way to carry your wealth to other countries without any complications.
Now imagine choosing gold over crypto, it's easy to spot anyone carrying gold, but it's hard to tell if you own cryptocurrencies and also, most people in Africa are unbanked, being honest there aren't too many options to protect your wealth in Africa
June 29, 2019, 03:45:58 PM
how are poor African countries with wars benefit in cryptocurrecy system or blockchain tecnology ?
Jump to: