Would be a way to gain some extra income lifting on the ever rising price of the Bitcoin.
We will see, Bitcoin will be used by many people in the future, and that is a good thing!
Topic: Developing countries using bitcoin: Is it possible? (Read 4201 times)
Very nice idea but impossible on a worldwide level. Too many countries need something more important than Bitcoin at this moment.
Couldnt ask for any more explanation after I read this.
Very nice idea but impossible on a worldwide level. Too many countries need something more important than Bitcoin at this moment.
The key is mobile phones. Mobile phones with cellular coverage and internet are more and more common in developing economies and are a lot more simple to use and affordable than home computers. Even without cellular coverage or service it is still a matter of just scanning QR codes until you do have service (of course this implies a certain level of trust with no confirmations). In the Infinitecoin project this is one of the areas we are trying to focus on. As a large cap altcoin, each coin is more numerous and affordable, and there is a new block about every 30 seconds so confirmations are fast. If you want to check it out Infinitecoin has an android mobile wallet in the Google play store. If you send me a PM I will give you a few so you can try it (please no addresses posted here it is against forum rules, and I will not pay anything to them).
https://play.google.com/store/apps/details?id=de.schildbach.wallet.infinitecoin
Ultimately a system that could reach developing economies could make strong independent cells of local barter economies that can still connect with the global economic system with ease. To country's with no banking system to speak of, this is a big opportunity to have access to the world economy.
https://play.google.com/store/apps/details?id=de.schildbach.wallet.infinitecoin
Ultimately a system that could reach developing economies could make strong independent cells of local barter economies that can still connect with the global economic system with ease. To country's with no banking system to speak of, this is a big opportunity to have access to the world economy.
Building a cell network is much less expensive than a copper or fiber optic network. Cell phone use is increasing dramatically in 2nd and 3rd world countries. With a trusted wallet a good portion of the developing world can all ready use bit coin. The biggest issue is educating them about it.
What countries are included in the developing countries?
All rumors no official statement about this topic.
What countries are included in the developing countries?
I dont hear people talk about bitcoin all the time. I hear the word "dollar" 50x a day. 
Its never possible its only virtual currency
He who has little faith. So do you prefer it as virtual currency or you want it to be adopted by developing countries as their currency?
1. Most of the people in the poor countries don't know how to use a computer,
so they need to learn to use it. 2. Most of them haven't computers and internet.
So your is a good idea, but it involves a huge amount of money...
so they need to learn to use it. 2. Most of them haven't computers and internet.
So your is a good idea, but it involves a huge amount of money...
Many people around the world know about bitcoin, the digital currency. But most of them only knows how this works; they never get the chance to use it or obtain it because of one simple reason: poverty. Most of the people living in a developing country doesn't have access to computer and the internet, which is the medium where bitcoin works. However, because of rapid inflation and skyrocketing prices for goods, people living on these developing countries want to break free from fiat, and use other currency wherein there's no central authority that controls how the currency flows. I, for one, am open to this kind of new idea wherein there's no central authority controls how our currency flows. I see bitcoin as a good alternative for fiat currency, but the medium it works through, which is the internet and computers, is not accessible to all people from all over the world. Because of this, I can't see bitcoin being widely used all around the world. It may be used widely by some developed countries but not those who are still developing. The idea of bitcoin being used as traditional money isn't impossible; it's only improbable at the time being.
Sorry for the mixed ideas that I typed in there. Kindly direct me to some errors that I commit there because I need it for our school discussion about Economics. I am a 4th year High School student that wants to excel in the field of Economics. If you are kind enough to read this, I thank you.
Bitcoin isn't limited to developed or undeveloped countries.It's just about the tech knowledge of people certainly.More the people in technical line more they will know about the ongoing trend and quick adopt it. Sorry for the mixed ideas that I typed in there. Kindly direct me to some errors that I commit there because I need it for our school discussion about Economics. I am a 4th year High School student that wants to excel in the field of Economics. If you are kind enough to read this, I thank you.
No country will willingly give up their own sovereign power to issue money.
This is not true. Many countries have adopted the dollar because it is more stable. Most countries in the EU have given up their ability to issue money by adopting the Euro, which is suppose to be more stable then the country's individual currencies. I live in a developing nation and have transacted using crytocurrency
Not sure what you think the usage problem is
There are always some people get the reach of technology somehow no matter where in the world you live.The problem is the general people aren'r getting the ease of technology like bitcoin Not sure what you think the usage problem is
No country will willingly give up their own sovereign power to issue money.
Beside, a well manage country do not need to worry their own currency will become worthless one day.
Beside, a well manage country do not need to worry their own currency will become worthless one day.
Third world countries like Philippines is not yet ready for this. It might be possible for the next 20 years but I couldnt see these guys embracing the bitcoin thought.
Governments won't embrace bitcoins, because they want to keep controlling the currency used. But citizens will slowly start using bitcoins, no matter what governments say.
Third world countries like Philippines is not yet ready for this. It might be possible for the next 20 years but I couldnt see these guys embracing the bitcoin thought.
all gov in the world only likes to take taxes from bitcoin.
they dont care about " Bitcoin " itself
they dont care about " Bitcoin " itself
Of course, governments just care about themselves, so they steal as much as the population allows them to. Governments don't want to lose control over money, that's why they hate bitcoin.
I live in a developing nation and have transacted using crytocurrency
Not sure what you think the usage problem is
Not sure what you think the usage problem is
The usage problem that I'm talking about is all about computers and internet. Not all people living in developing countries have access to computers and the internet. Let's say that they have access to it, but they do not own it; how can they store their own bitcoins if they don't have their own computers or even smartphones? By the way, the average pay for a minimum wage worker here in our country is $10 (that is the pay for working in 8 full hours).
They can use Blockchain.info to store the Bitcoins.
Many people around the world know about bitcoin, the digital currency. But most of them only knows how this works; they never get the chance to use it or obtain it because of one simple reason: poverty. Most of the people living in a developing country doesn't have access to computer and the internet, which is the medium where bitcoin works. However, because of rapid inflation and skyrocketing prices for goods, people living on these developing countries want to break free from fiat, and use other currency wherein there's no central authority that controls how the currency flows. I, for one, am open to this kind of new idea wherein there's no central authority controls how our currency flows. I see bitcoin as a good alternative for fiat currency, but the medium it works through, which is the internet and computers, is not accessible to all people from all over the world. Because of this, I can't see bitcoin being widely used all around the world. It may be used widely by some developed countries but not those who are still developing. The idea of bitcoin being used as traditional money isn't impossible; it's only improbable at the time being.
Those countries just need more capital goods per capita. Give them some free market medicine and they'll get there soon.
all gov in the world only likes to take taxes from bitcoin.
they dont care about " Bitcoin " itself
they dont care about " Bitcoin " itself
The internet now is helping the poor, but at its beginning, it was something used in rich countries by the riches. Same with all major advantages, first helped the rich, then after some time the benefits leak to the poor.
Same with bitcoin, we need to consolidate first among the wealth people, then the benefits can leak to the poor. Once the riches adoption stabilizes, we can reach a stable price and it will be easier to use.
Same with bitcoin, we need to consolidate first among the wealth people, then the benefits can leak to the poor. Once the riches adoption stabilizes, we can reach a stable price and it will be easier to use.
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