Developing countries using bitcoin: Is it possible? - page 2.

Skele

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VocalPlatform.com

Quote from: dothebeats on July 09, 2014, 06:06:15 AM

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.

If they knew that poverty will end if they turn to Bitcoin...

https://docs.google.com/spreadsheet/ccc?key=0ArD8rjI3DD1WdFIzNDFMeEhVSzhwcEVXZDVzdVpGU2c#gid=1

TECSHARE

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First Exclusion Ever

Is there anyone here located in Africa who would be interested in helping make this a reality using Infinitecoin? Please reply here or PM me.

DannyElfman

sr. member

Activity: 406

Merit: 250

Quote from: dothebeats on July 12, 2014, 05:58:36 AM

Quote from: cinder on July 12, 2014, 05:50:08 AM

Quote from: dothebeats on July 12, 2014, 05:24:55 AM

I see that paper wallets can be a thing, but how can one send coins by using only that paper wallet? Let me know if you already found out a solution on that problem. I already stated that the widespread adoption of bitcoin isn't impossible, but just improbable at the time being,

Many people who know what they are doing see that. It is only those who think bitcoin that can become the reserve currency or replace local currency has no clue.

Actually bitcoin isn't a currency IMO; it's a form of payment system. However, as people adopt the idea of bitcoin as an alternative currency, it's slowly becoming a currency. But most of the people tend to value bitcoin as an investment rather than a currency; most of the people waits for the value to rise and then trade it for fiat to profit. If we want to stay away from using fiat and wants bitcoin to be a replacement to it, we should use it more often and liquidate all of it for its value not to be volatile.

The price of bitcoin needs to stabilize in order for it to be a form of ~~currency~~ money

TECSHARE

legendary

Activity: 3318

Merit: 1958

First Exclusion Ever

Quote from: Abdussamad on July 12, 2014, 07:28:11 AM

Quote from: TECSHARE on July 12, 2014, 03:27:49 AM

Side note: I found this in your trust ratings and found it telling...
BTC-e Help Me Please 0: -0 / +0(0) 2013-11-15 0.00000000 "Talks out his ass alot, Unwilling to help anyone but himself."

Ha! Ha! That guy got angry because I did not give him enough sympathy. If you look at his post history you will see he disappeared after that. I help out a lot in the electrum forum and get thanked a lot. Perhaps you should take a closer look at my post history instead of judging me from some fly by night's tantrums.

I didn't judge you by your trust history but your arrogant confrontational response to me here, so don't worry.

Abdussamad

legendary

Activity: 3612

Merit: 1564

Quote from: TECSHARE on July 12, 2014, 03:27:49 AM

Side note: I found this in your trust ratings and found it telling...
BTC-e Help Me Please 0: -0 / +0(0) 2013-11-15 0.00000000 "Talks out his ass alot, Unwilling to help anyone but himself."

Ha! Ha! That guy got angry because I did not give him enough sympathy. If you look at his post history you will see he disappeared after that. I help out a lot in the electrum forum and get thanked a lot. Perhaps you should take a closer look at my post history instead of judging me from some fly by night's tantrums.

dothebeats

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Activity: 3542

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Cashback 15%

Quote from: cinder on July 12, 2014, 05:50:08 AM

Quote from: dothebeats on July 12, 2014, 05:24:55 AM

I see that paper wallets can be a thing, but how can one send coins by using only that paper wallet? Let me know if you already found out a solution on that problem. I already stated that the widespread adoption of bitcoin isn't impossible, but just improbable at the time being,

Many people who know what they are doing see that. It is only those who think bitcoin that can become the reserve currency or replace local currency has no clue.

Actually bitcoin isn't a currency IMO; it's a form of payment system. However, as people adopt the idea of bitcoin as an alternative currency, it's slowly becoming a currency. But most of the people tend to value bitcoin as an investment rather than a currency; most of the people waits for the value to rise and then trade it for fiat to profit. If we want to stay away from using fiat and wants bitcoin to be a replacement to it, we should use it more often and liquidate all of it for its value not to be volatile.

cinder

full member

Activity: 153

Merit: 100

Quote from: dothebeats on July 12, 2014, 05:24:55 AM

I see that paper wallets can be a thing, but how can one send coins by using only that paper wallet? Let me know if you already found out a solution on that problem. I already stated that the widespread adoption of bitcoin isn't impossible, but just improbable at the time being,

Many people who know what they are doing see that. It is only those who think bitcoin that can become the reserve currency or replace local currency has no clue.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

I see that paper wallets can be a thing, but how can one send coins by using only that paper wallet? Let me know if you already found out a solution on that problem. I already stated that the widespread adoption of bitcoin isn't impossible, but just improbable at the time being,

TECSHARE

legendary

Activity: 3318

Merit: 1958

First Exclusion Ever

Quote from: Abdussamad on July 11, 2014, 09:44:11 PM

Quote from: TECSHARE on July 11, 2014, 04:35:02 PM

Bitcoin is designed as a method of transaction, not as a stock to speculate on. Of course everyone wants free easy money with no work, but all you newbs don't seem to get the fact that everyone thinks they are the smartest by doing this and it inevitably results in a weaker market. As a result everyone tries to speculate, contributes nothing to the actual cryptocoin infrastructure, developers are left unsupported, innovation stops, everyone loses. It is time for people to get off their asses and contribute in stead of just waiting for someone else to do the work for you. Cryptocurrency is the most powerful tool humanity has EVER HAD in escaping fiat economic slavery, it is WAY MORE important than personal petty greed.

Well I'm not a noob and we are all here because it's profitable. Unless of course you aren't? In which case you must be some sort of religious person who worships Satoshi.

Anyway remittances are definitely possible with bitcoin. You need a network of agents though. That's how remittances work. Ordinary folk here don't know how to use a computer or the net. They just go to an agent's and he uses a computer and internet connection to process their transaction for them. This way the poor avoid having to deal with the volatility of bitcoin as well. They get the local currency and bitcoin is just a medium for the money transfer.

Wow, you've been here a whole year! Clearly you know what you are talking about...
Profiting is one thing. Profiting without contributing anything at all is another.
Everyone wants money but no one wants to give back any time or money to the system that made them money.
As a result the golden goose is slowly being smothered. Everyone loves open source, as long as some one else pays/works for it.

Side note: I found this in your trust ratings and found it telling...
BTC-e Help Me Please 0: -0 / +0(0) 2013-11-15 0.00000000 "Talks out his ass alot, Unwilling to help anyone but himself."

Abdussamad

legendary

Activity: 3612

Merit: 1564

Quote from: TECSHARE on July 11, 2014, 04:35:02 PM

Bitcoin is designed as a method of transaction, not as a stock to speculate on. Of course everyone wants free easy money with no work, but all you newbs don't seem to get the fact that everyone thinks they are the smartest by doing this and it inevitably results in a weaker market. As a result everyone tries to speculate, contributes nothing to the actual cryptocoin infrastructure, developers are left unsupported, innovation stops, everyone loses. It is time for people to get off their asses and contribute in stead of just waiting for someone else to do the work for you. Cryptocurrency is the most powerful tool humanity has EVER HAD in escaping fiat economic slavery, it is WAY MORE important than personal petty greed.

Well I'm not a noob and we are all here because it's profitable. Unless of course you aren't? In which case you must be some sort of religious person who worships Satoshi.

Anyway remittances are definitely possible with bitcoin. You need a network of agents though. That's how remittances work. Ordinary folk here don't know how to use a computer or the net. They just go to an agent's and he uses a computer and internet connection to process their transaction for them. This way the poor avoid having to deal with the volatility of bitcoin as well. They get the local currency and bitcoin is just a medium for the money transfer.

TECSHARE

legendary

Activity: 3318

Merit: 1958

First Exclusion Ever

Quote from: tinof on July 11, 2014, 12:37:13 PM

Quote from: Abdussamad on July 11, 2014, 11:46:34 AM

I should like to point out that the idea that you buy bitcoin to escape inflation is a little odd. Bitcoin supply is inflating at the rate of 10% per annum at least. We are all just betting that adoption will be even faster. I don't think poor people have the sort of savings buffer that would allow them to make bets like that. It is too risky for them.

The lack of internet access is not such a big deal. Dumb phone usage is already high. Smart phone prices keep falling. We'll get there soon enough.

Hence the reason bitcoin should only target high net worth individual for speculation purposes.

Bitcoin is designed as a method of transaction, not as a stock to speculate on. Of course everyone wants free easy money with no work, but all you newbs don't seem to get the fact that everyone thinks they are the smartest by doing this and it inevitably results in a weaker market. As a result everyone tries to speculate, contributes nothing to the actual cryptocoin infrastructure, developers are left unsupported, innovation stops, everyone loses. It is time for people to get off their asses and contribute in stead of just waiting for someone else to do the work for you. Cryptocurrency is the most powerful tool humanity has EVER HAD in escaping fiat economic slavery, it is WAY MORE important than personal petty greed.

tee-rex

hero member

Activity: 742

Merit: 526

Quote from: tinof on July 11, 2014, 12:37:13 PM

Quote from: Abdussamad on July 11, 2014, 11:46:34 AM

I should like to point out that the idea that you buy bitcoin to escape inflation is a little odd. Bitcoin supply is inflating at the rate of 10% per annum at least. We are all just betting that adoption will be even faster. I don't think poor people have the sort of savings buffer that would allow them to make bets like that. It is too risky for them.

The lack of internet access is not such a big deal. Dumb phone usage is already high. Smart phone prices keep falling. We'll get there soon enough.

Hence the reason bitcoin should only target high net worth individual for speculation purposes.

"Don't bet more than you can afford to lose". Cheesy

tinof

full member

Activity: 343

Merit: 100

Quote from: Abdussamad on July 11, 2014, 11:46:34 AM

I should like to point out that the idea that you buy bitcoin to escape inflation is a little odd. Bitcoin supply is inflating at the rate of 10% per annum at least. We are all just betting that adoption will be even faster. I don't think poor people have the sort of savings buffer that would allow them to make bets like that. It is too risky for them.

The lack of internet access is not such a big deal. Dumb phone usage is already high. Smart phone prices keep falling. We'll get there soon enough.

Hence the reason bitcoin should only target high net worth individual for speculation purposes.

Abdussamad

legendary

Activity: 3612

Merit: 1564

I should like to point out that the idea that you buy bitcoin to escape inflation is a little odd. Bitcoin supply is inflating at the rate of 10% per annum at least. We are all just betting that adoption will be even faster. I don't think poor people have the sort of savings buffer that would allow them to make bets like that. It is too risky for them.

The lack of internet access is not such a big deal. Dumb phone usage is already high. Smart phone prices keep falling. We'll get there soon enough.

tee-rex

hero member

Activity: 742

Merit: 526

Quote from: ?? on ??

Quote from: dadugan on July 11, 2014, 06:04:36 AM

Quote from: DannyElfman on July 11, 2014, 12:32:44 AM

Quote from: Ron~Popeil on July 10, 2014, 01:51:41 AM

Quote from: TECSHARE on July 10, 2014, 01:27:53 AM

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.

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.

This will likely (IMO) be how the internet will reach much of the world in the future. This would also be how bitcoin must be used if it will ever be used in day-to-day transactions as many purchases are impulse buys when shopping.

Bitcoin is too volatile to use as a currency.

if it starts to be used as a currency, it would stabilize..

This is just another example of a circular argument. It won't stabilize until it is used as a currency, and it won't be used as a currency until it stabilizes.

dadugan

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Activity: 179

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Quote from: DannyElfman on July 11, 2014, 12:32:44 AM

Quote from: Ron~Popeil on July 10, 2014, 01:51:41 AM

Quote from: TECSHARE on July 10, 2014, 01:27:53 AM

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.

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.

This will likely (IMO) be how the internet will reach much of the world in the future. This would also be how bitcoin must be used if it will ever be used in day-to-day transactions as many purchases are impulse buys when shopping.

Bitcoin is too volatile to use as a currency.

DannyElfman

sr. member

Activity: 406

Merit: 250

Quote from: Ron~Popeil on July 10, 2014, 01:51:41 AM

Quote from: TECSHARE on July 10, 2014, 01:27:53 AM

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.

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.

This will likely (IMO) be how the internet will reach much of the world in the future. This would also be how bitcoin must be used if it will ever be used in day-to-day transactions as many purchases are impulse buys when shopping.

AdamSmith

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Activity: 142

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http://www.coindesk.com/brock-pierce-announces-dollar-backed-cryptocurrency-realcoin/

Someone in developing country should come up with something similar. Peg the local currency to something that is perceived to be stable to use on everyday transaction.

PolarPoint

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Activity: 672

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Developing countries may not have 100% mobile internet coverage, their voicecall mobile coverage should be adequate for sending and receiving sms text messages. If there is a service where they can send and receive bitcoin using sms text messages, bitcoin can complement their local fiat.

Ron~Popeil

sr. member

Activity: 406

Merit: 250

Quote from: TECSHARE on July 10, 2014, 01:27:53 AM

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.

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.

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