Topic: Developing countries using bitcoin: Is it possible? - page 3. (Read 4201 times)

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.

Its never possible its only virtual currency

Most poor people in developed countries got their spirit overrun by the crisis and political instability, so they just dump whenever money they have, if they manage to get some, and have no savings and no investing. This behavior also explains why they keep poor and government depended, and maybe against decentralized currencies because of that dependence

Even if they have access to computer, I doubt they would invest in bitcoins.

Developing countries are getting more access to things like computers and the internet. Granted the level of access and the quality of service is nowhere near that of what it is like in the US, but access is still growing.

Bitcoin could very well be accepted as a currency of choice for smaller, developing countries as they generally have smaller economies and a very volatile currency.

Problem is, the private key can be copied to empty the bill/note.

Most of the people in the poor countries don't know how to use a computer, so they need to be teach ,your idea is good,but it involves a huge amount of money,help from the local city hols(and most are corrupt and they will see this opportunity to make themselves rich),people who are willing to teach about computers ,internet and how it works, an internet provider......all that is possible if it exist any infrastructure and electricity....

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).

I live in a developing nation and have transacted using crytocurrency
Not sure what you think the usage problem is

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.