Economy development through bitcoin [in boarder aspect]

soham

sr. member

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Quote from: arcds9 on October 07, 2017, 05:52:16 AM

It is really a bless for poor countries. But some third world countries do not accept BTC yet. But why are they doing it? They can easily be benefited through bitcoin. So, they should accept it quickly.

Bitcoin is truly an international currency in terms of physical borders. Because bitcoin can't be stopped by the border or by any other external force. So a lot of people can take financial benefit from using and earning bitcoin. The only requirement is internet. So it is truly a blessing to the tech savy mass of any country.

I have seen a lot of people are earning from bitcoin without looking for a job. So if a person is able to feed his family or able to live a decent life, it is definitely a blessing to them. Bitcoin has already created a parallel economy and a lot of people are benefiting from bitcoin. It's indeed a development.

redhondaxrm125

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Quote from: arcds9 on October 07, 2017, 05:52:16 AM

It is really a bless for poor countries. But some third world countries do not accept BTC yet. But why are they doing it? They can easily be benefited through bitcoin. So, they should accept it quickly.

It surely can be a blessing for a lot of countries, poor or not. Cryptos can change people’s lives if made more famous and legal. Because it does not require much from anyone. As long as you can speak and understand english, you can survive here. And bonus skills are just a plus. Having this solution to solve massive unemployment can really change any country for the better. No doubt about that.

But sadly, those greedy banks and governments won’t allow it. Because they cannot benefit from it as much as they can benefit from fiat. So...

edynolan

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what do you say about poor countries that this is all a blessing, not just a poor country in profit with bitcoin and other coins but almost all countries, for countries that do not accept the bitcoin because they feel there is a real threat about digital money then they do not accept it and preferring fiat currency, but for the future I hope all countries can accept bitcoin as a legal digital currency

Gozie51

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Talking about the third world countries implementing it or not is inconsequential . Bitcoin is decentralized, anyone can use it despite the location or jurisdictions so long the individual is interested in it. The government has no control over who uses bitcoin or not at least for now, meaning is at the user peril. If you make or have bitcoin, there are changing sites that can convert it to your local currency for you too.

Basmic

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There are now countries that do not have mobile communication. In poor countries people use of cheaper smartphones, but in order to use bitcoin Apple 8 is not needed. I saw in South America the natives easily using mobile phones. They even have their own system of electronic money. People in poor countries are more motivated to seek additional income and therefore I would not be surprised if bitcoin will have more spread in the 3 countries of the world.

MMS2017

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If we talk in broader sense. The point will come to our mind that through this currency does it affect the world or not it the answer is yes then its possibility that it will make a good impact on economy. Thus bitcoin will improve the standard of living of many poor countries and it is the blessing upon us that we are become a part of this. If purchasing power of the people and standard of life is god the economy will move to the growing side.

webtricks

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Quote from: arcds9 on October 07, 2017, 05:52:16 AM

It is really a bless for poor countries. But some third world countries do not accept BTC yet. But why are they doing it? They can easily be benefited through bitcoin. So, they should accept it quickly.

How could you say poor countries can benefited by Bitcoins?

Let us assume tier 3 countries make Bitcoin as legal mode of payment. But still people will prefer payments in fiat currency as there is no charge for it. Also poor countries are mostly technology backward. When the majority of the public living on $1/day, how could you expect them using Mobiles for payments.

Also if we say Bitcoins provide source of income to people then this concept is also limited to certain class of society. Not everyone can make their livings with Bitcoins. You can't teach people how to earn via Bitcoins, people can make their living out of Bitcoins only on their personal experience and skills.

Almat

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Why would it be a blessing? It *could* be a blessing to the poor, yes, but thus far, Bitcoins have not been observed to be capable of spurring economic growth, at least, to a point where it matters.

DaMut

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what do you mean it was a bless for poor countries ?
until now,i never heard about being bless for them and never heard they implemented it yet?
why they are not implemented it yet ? because some people think it's a 'currency' and some people did not.
other than that some people holding it more than 1% from its total,
which mean it can be easily manipulated by them.
if they're implemented it,and the price is skyrocketting.they(Bitcoin holders exceed 1%) can easily dump it,
and then make the price crash.
1% is not that much,but what happen if they trigger other holders ?
panic sell will happen and the it lose its value

arcds9

newbie

Activity: 47

Merit: 0

It is really a bless for poor countries. But some third world countries do not accept BTC yet. But why are they doing it? They can easily be benefited through bitcoin. So, they should accept it quickly.

Topic: Economy development through bitcoin [in boarder aspect] (Read 245 times)