impacts off cryptocurrency - page 6.

burnchan

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Quote from: litma21 on November 16, 2017, 08:45:08 AM

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

The impact of cryptocurrency would greatly impact the middle and upper class. This is due the accessibility to the internet and their capability of acquiring a gadget. Aside from cryptocurrency gives convenience to money remittances, cryptocurrencies likewise opportunity for investments. Which will uplift the economic status.

ahkiatt

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Off the top of my head I can think of two impacts that I personally really like.

First is the reduced reliance on financial institutions to safekeep and invest our finances. If you do not trust the way banks and financial institutes make risky investments for a quick buck, holding assets such as bitcoin or other alts safely in your hardware wallet serves as a lovely method to protect your hard earned money in case of another financial crisis/collapse of multiple banks.

Second is fund raising. ICOs and token sales allow small time investors like myself and many others on this forum to invest in projects we trust and believe in. Likewise, companies looking to raise funds no longer have to solely rely on family, friends and venture funds.

Reatim

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Quote from: mOgliE on November 19, 2017, 02:34:17 PM

Bitcoin has no current impact.

I mean, of course there are many people buyng, trading and playing with bitcoin but come on. For the moment it has no significant impact.
Proof is that in most countries, bitcoin and its community is simply ignored by the government.

I do not say that bitcoin has no future and will never change society, I affirm that changes are slow. Please, stop believing that bitcoin is a huge change, completely disrupting society. For the moment at least! Cheesy

I mean if there is a impact its only minimal and as far as the social and economic, only citizens is benefiting and its only quite a small percentage really. At least citizens of a country has gain and earn bitcoin and making money. That's why I think that government is really targeting bitcoin because they really want to put tax around it.

Quote from: mitchr4 on November 19, 2017, 10:28:48 PM

Quote from: litma21 on November 16, 2017, 08:45:08 AM

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

The impact is very influential for social and countries. There have been many cryptocurrencies with different aims to bring people and the country get benefit. I think with this cryptocurrency at least can help people to be able to change his lifestyle.

Only the people are really benefiting and not the government. Maybe its not that significant as I have mentioned. Because people has been given financial freedom is only a few that why even if they purchase all their bitcoin in the local economy its still not enough to make a significant dent on the whole country itself.

vv181

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Quote from: mOgliE on November 19, 2017, 02:34:17 PM

Bitcoin has no current impact.

I mean, of course there are many people buyng, trading and playing with bitcoin but come on. For the moment it has no significant impact.
Proof is that in most countries, bitcoin and its community is simply ignored by the government.

I do not say that bitcoin has no future and will never change society, I affirm that changes are slow. Please, stop believing that bitcoin is a huge change, completely disrupting society. For the moment at least! Cheesy

are you sure such a revolutionary technology hasn't given a huge impact yet? and many governments have kept an eye on bitcoin and starting to regulate bitcoin.And you said it's disrupting the society instead of improving it. i doubt you really understand the technology behind it. many people helped by bitcoin from the ease of use, the anonymity and much more from it.

mitchr4

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Quote from: litma21 on November 16, 2017, 08:45:08 AM

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

The impact is very influential for social and countries. There have been many cryptocurrencies with different aims to bring people and the country get benefit. I think with this cryptocurrency at least can help people to be able to change his lifestyle.

Rinder

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Crypto world has becamed an amazing way to send money to family without pay ridicoulous exchange fees and service fees, replacing the third person involved into the transaction can really make a huge difference. I dont know about the others people involved into crypto, but it had changed my life, nowadays im able to get an extra source of income besides my job, im planing to change my life, buy a new car or invest into a house soo i can moove with my family and give some upgrade into it. Bitcoin and crypto has allowed me to get such, i wonder where i would be nowadays without crypto, and i wonder if this is a dream becoming true or just a door wich i had opened into the right moment.

mOgliE

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Bitcoin has no current impact.

I mean, of course there are many people buyng, trading and playing with bitcoin but come on. For the moment it has no significant impact.
Proof is that in most countries, bitcoin and its community is simply ignored by the government.

I do not say that bitcoin has no future and will never change society, I affirm that changes are slow. Please, stop believing that bitcoin is a huge change, completely disrupting society. For the moment at least! Cheesy

aoihs00

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Quote from: litma21 on November 16, 2017, 08:45:08 AM

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

Well looking at the social perspective of the bitcoin or the crypto currencies as whole it is bringing them together and uniting a lot of people around the globe. I mean just look at it, bitcoin has no boundaries and thats why it can be traded anywhere in the world and no matter what which country are you in but you can just send it to everyone out there. Tis keeps us together by means of trades, business and much more.

Speaking about the economic impact well I'm sure it will develop our nations in positive way because the wealth that is being generated for us and for the government through the taxes is enormous and it will keep going on upwards always. This is cool and significantly true fact about the bitcoin that its virtual but the impact on economy is real.

Idrisu

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Quote from: litma21 on November 16, 2017, 08:45:08 AM

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

The discovered of blockchain technology has reset how the world thing about money and the world economic. Currently, all over the world, many financial experts are learning and developing on way to adopted cryptocurrencies into their financial system and great thinkers and and financial leaders has been saying bitcoin and blockchain technology is the future of money! P2p making business and financial transactions easy for common man and businesses. Poor country are not affected as most communities all over the world have access to internet.

balanghai

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Bitcoin a chance for people to invest but as we know bitcoin still consider as risky investation so people must think twice before decide to invest.
When I try my friend to use bitcoin, they said that everything become easier compare use fiat and cheaper so bitcoin really change their transaction habit !

Saifher

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Cryptocurrencies have the potential to disrupt society, in a very big way. If this entire scene can reach its peak, things are gonna go insanely wild, you'll see banks crashings, government power changing hands, money flowing out of traditional investments into cryptos.. I think we are still a ways off from this happening, but it's slowly starting.

AK47-

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Cryptocurrencies have brought a completely new form of financial system or a currency system. We have always seen a centralized mechanism when it comes to currencies. Right now nobody can really predict how much potential this system has and will it replace the ongoing centralised system. Will governments and banks let it thrive? Is it good for economy of a country? Cryptocurrencies are in testing phase. Everyone has his own take on it. Some are supporting some aren't. In public view, cryptocurrencies are revolutionary form of currency but in government eyes it might be bad for economy. It will take some years to completely foresee the impact of cryptocurrencies on global economic model.

50ouncebrew

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Quote from: HasHe on November 18, 2017, 09:02:57 PM

I think some economic giants like japan would make use of crypto currencies and would progress towards the next stage while so me other giants like china,russia would act against bitcoin and they would neither be able to ban bitcoins nor they would adopt bitcoin and they would not progress using crypto currencies.

But some smaller countries like liberland and other may adopt bitcoin.But even though if most of the under developed countries try to adopt bitcoin and crypto currencies,they would fail to do so due to lack of internet facilities and infrastructure to adopt digital payments.

Sure as day, Japan will be a leader in crypto as you say. They tend to be on the cusp of new technologies and always the first one to accept them, even well before the United States, and Bitcoin and cryptocurrencies are no exception, the US will be behind Japan which is a more technologically progressive nation for sure. Now, will it always be this way? I don't think so. Once USA discovers that crypto is a great tech, they will pour their resources into it and make it huge and will take it over much more than Japan, China, Russia, etc.

White-Grey-Black

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I don't think its only about cryptocurrency it's all about the blockchain technology which is making currency(asserts) more secure and transparent, that is the actual aim of blockchain, and hey why not blockchain would really help governments and other assert related sectors to work very transparent and clean, from this we could avoid corruption as well .

Theb

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What I am seeing right now is that Bitcoin is the one who created the most impact among all cryptocurrencies, when you look at it Bitcoin has give a way for people to earn additional income from trading to mining it it gave them opportunity to earn money online it also had paved the way for Altcoins that people are also understanding hoping it will grow like Bitcoin. Bitcoin had quiet a big run this year that even people who don't know Bitcoin yet have became self-aware of what it is.

Coffee135

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I think that the unemployment rate of bitcoin has no effect. Unemployment has many different aspects and if people do not want to work then there is no bitcoin will not force him to do it. The most important advantage of bitcoin is that it enables people to work remotely. If the economy does not allow people to have a decent wage that bitcoin can help to solve this problem. On the economy, bitcoin is now not affected in any way.

Ilegendph

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Thinking on the higher plane of existence.

Quote from: litma21 on November 16, 2017, 08:45:08 AM

what are the social and economic impacts cryptocurrencies have ?

As I observe in my environment, the social and economic impacts is that it makes an opportunity to students and other unemployed to make money out of it thus making overall unemployment rate lower. But it is limited to those who have gained knowledge in this technology (Bitcoin).

Quote from: litma21 on November 16, 2017, 08:45:08 AM

and how will this affect third world and poor countries because of their limited access to internet and modern technology?

If the are is limited to access the internet then it wont make a difference since bitcoin and blockchain technology is based on the internet.

Shenzou

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Quote from: Rashid555 on November 19, 2017, 11:50:00 AM

in my opinion the bitcoin affect the third world countries in a good sense it has improves the poor countries and provide better facilities and good business and job opportunities to the poor people in the world. those people who have skills they are good in computers they can earn good amount of money through this form if they are good designer they can design logos fof the managers and they can get much more

I agree, for me personaly bitcoin and cryptocurrency can have a massive impact on the world, and i am not just talking about how it could give an oputrounity for those who live in certain areas where the econnamy is bad, and not just giving a pourpouse for those who don't have a hob, it is beyond that, it is an idea that brings poeple together and idea that puts away all our diffrences and makes us work together under one pourpouse, and abitcoin is one of the great exemples of what millllions of poeple around the world could achive without the limites of goverments or banks, imagne what the world would be if people all around the world get paid with bitcoin, there will be no poverty, balance in power around the world.

Rashid555

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in my opinion the bitcoin affect the third world countries in a good sense it has improves the poor countries and provide better facilities and good business and job opportunities to the poor people in the world. those people who have skills they are good in computers they can earn good amount of money through this form if they are good designer they can design logos fof the managers and they can get much more

TTITA

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Quote from: HasHe on November 18, 2017, 09:02:57 PM

I think some economic giants like japan would make use of crypto currencies and would progress towards the next stage while so me other giants like china,russia would act against bitcoin and they would neither be able to ban bitcoins nor they would adopt bitcoin and they would not progress using crypto currencies.

But some smaller countries like liberland and other may adopt bitcoin.But even though if most of the under developed countries try to adopt bitcoin and crypto currencies,they would fail to do so due to lack of internet facilities and infrastructure to adopt digital payments.

With the lack of government support itself in this case it will be very difficult to realize.
To adopt crypto technology to become one of the alternative as a payment method in a country, surely it will required a well planned infrastructure, in addition to minimize the damage as well and used for a long time.

Topic: impacts off cryptocurrency - page 6. (Read 2067 times)