Topic: One question nobody is asking... (Read 2658 times)
I don't think bitcoin will ever be a universal currency in the sense that it's going to replace others. I think it can work alongside fiat. I think there is a place for both and maybe a need to both in the future.
Well worldwide internet isn't 100% available yet but so what? Look at everyone on smartphones and how that succeeded. The world will catch up.
I agreee, but the question here is: how long would it take to chatch up?
Until the vast majority of human population have reliable access to internet conections there will be no way that bitcoin would become some sort of universal currency...
In order for BTC to take off it will require one basic component that does not exist yet... reliable and affordable mobile internet EVERYWHERE.
Yeah, I know, you're ready to pounce and tell me to wake up. Entertain me for a minute. Let me explain...
I live in the United States, about 40 miles from a city with a population of about 45,000. We have three choices for internet; dial up, satellite, or a mobile hotspot (if you can get a connection). Satellite is okay, but it is metered, so if you actually use it, it can be very expensive. Smartphones and hotspots are becoming more common, but they aren't very helpful unless we are close to the city. And dial up, actually, I am not sure you can even get that anymore.
Oh, I forgot to add that I am only fours hours drive from NYC.
I think people on here are putting the cart way before the horse. If you don't believe me, take a drive out to the country and try to use your smartphone. Of the several houses on my street, I am the only one that has access to the internet, mobile or otherwise. I live in the sticks. I explained Uber to about 20 coworkers a few weeks ago. Several of them said it would never work.
(Just trying to paint a picture of what I see.)
So my question is,
How can this technology benefit the "unbanked" in developing countries within the next several years? Really, how close are we to smart contracts and self driving cars and a sustainable BTC price of >$1000?
I keep hearing how BTC is going to help the "unbanked" in developing countries... like that is going to happen in the next year or two. I keep hearing about Etherium, smart contracts, self driving cars. I saw a video on youtube of a prominent BTC person saying that we are almost there. He substantiated it by saying that self driving cars already exist and function. They may exist, but they wont function where I live. In fact, they wont function in most of the world. If I can't call my wife on the drive home from work, how the hell is my car going to drive itself?
For BTC to grow in the time frame many of you propose, developing countries would have to have cheaper and more reliable internet access than me, four hours outside of NYC?
Think about that. That is what I have a hard time wrapping my head around.
I am not bashing BTC. I own a little and want to cash in someday just like everyone else. I see the potential. I am just trying to offer a perspective that I think most are overlooking.
And please, do not simplify what I am saying. Where I live, people just started using debit cards in place of their checkbooks, and are just now making their first internet purchases!
So even if the access to the internet improves, there is still a long time before the trust factor enters the equation.
Sorry, but three years from now, millions of people in the western world will still be writing checks, and millions in the the developing world will still be seeing the internet for the first time.
oh i never hear about this,is that really?United States as king of technology,they have some are that still have hard acces to internet?i can't believe this. thanks for sharing,i'm sure so many people dont know and consider about this,and i'm also think how about small city in poor country like africa and asians country,they have more problem than only internet connection,can bitcoin "conquer" the world if internet not yet like oxygen?? Yeah, I know, you're ready to pounce and tell me to wake up. Entertain me for a minute. Let me explain...
I live in the United States, about 40 miles from a city with a population of about 45,000. We have three choices for internet; dial up, satellite, or a mobile hotspot (if you can get a connection). Satellite is okay, but it is metered, so if you actually use it, it can be very expensive. Smartphones and hotspots are becoming more common, but they aren't very helpful unless we are close to the city. And dial up, actually, I am not sure you can even get that anymore.
Oh, I forgot to add that I am only fours hours drive from NYC.
I think people on here are putting the cart way before the horse. If you don't believe me, take a drive out to the country and try to use your smartphone. Of the several houses on my street, I am the only one that has access to the internet, mobile or otherwise. I live in the sticks. I explained Uber to about 20 coworkers a few weeks ago. Several of them said it would never work.
(Just trying to paint a picture of what I see.)So my question is,
How can this technology benefit the "unbanked" in developing countries within the next several years? Really, how close are we to smart contracts and self driving cars and a sustainable BTC price of >$1000?
I keep hearing how BTC is going to help the "unbanked" in developing countries... like that is going to happen in the next year or two. I keep hearing about Etherium, smart contracts, self driving cars. I saw a video on youtube of a prominent BTC person saying that we are almost there. He substantiated it by saying that self driving cars already exist and function. They may exist, but they wont function where I live. In fact, they wont function in most of the world. If I can't call my wife on the drive home from work, how the hell is my car going to drive itself?
For BTC to grow in the time frame many of you propose, developing countries would have to have cheaper and more reliable internet access than me, four hours outside of NYC?
Think about that. That is what I have a hard time wrapping my head around.
I am not bashing BTC. I own a little and want to cash in someday just like everyone else. I see the potential. I am just trying to offer a perspective that I think most are overlooking.
And please, do not simplify what I am saying. Where I live, people just started using debit cards in place of their checkbooks, and are just now making their first internet purchases!
So even if the access to the internet improves, there is still a long time before the trust factor enters the equation.
Sorry, but three years from now, millions of people in the western world will still be writing checks, and millions in the the developing world will still be seeing the internet for the first time.
I think Google is working on this with the world wide blimp/weather balloon network they want to put in place.
it is ok to say that Bit coin needs safer internet connection to enable every one to use it any time they want but these days internet available every where in the world in offices at home even in smart phones so i don't think any one is without internet now so bit coin is just with all people since internet is not a big issue these days.
I understand what you are saying, but I don't think everyone everywhere needs to be able to use bitcoin in order for it to be considered as "taken off." Do you think the internet has "taken off?" Just like you said, not everyone has access to the internet/computers/smartphones, but the internet is still a HUGE GLOBAL system. The internet has come a long way in a not very long time. I would say it has "taken off" and I think bitcoin will too.
bitcoin is the money of the future, and as we go forward the internet coverage is also growing. for example nowadays there is a good mobile internet (4g) coverage almost everywhere so you can easily use that no matter where you are as long as there is a cell tower around.
I think this is a good question that every bitcoin trader's need to put into consideration!
well, just like Anddos mentioned earlier that google is doing something about that, well, i have read something similar about facebook CEO launching global internet connectivity. I can't figure out link to that article right now but, i'll update my comment whenever, i come across the link again.
Thanks
well, just like Anddos mentioned earlier that google is doing something about that, well, i have read something similar about facebook CEO launching global internet connectivity. I can't figure out link to that article right now but, i'll update my comment whenever, i come across the link again.
Thanks
Who needs internet? If you have 4G your mobile wallet will work just fine. I use it all the time. Much of the world has better mobile service than the US anyway due to the higher population density.
I think in most parts of the world internet is being provided to almost all the users. I have seen most of the big cities have a wifi tower near to every colony or sector, where you can get free internet with good speed.
The OP should take it up with Obama.
I don't see why it's the forum's problem that America's internet access is shite.
The rest of the world's internet access is expanding rapidly.
I don't see why it's the forum's problem that America's internet access is shite.
The rest of the world's internet access is expanding rapidly.
There is pretty good internet service in the USA. The problem is that one has to pay for EVERYTHING we get here. And pay 100's of times more than it's worth. We even have to pay for things our tax dollars payed for already. The banks steal our money and take our homes....and we pay them to do it in the form of bailouts! People are just dumb and lazy in the USA....that's all!
The OP should take it up with Obama.
I don't see why it's the forum's problem that America's internet access is shite.
The rest of the world's internet access is expanding rapidly.
I don't see why it's the forum's problem that America's internet access is shite.
The rest of the world's internet access is expanding rapidly.
You may be surprised at how common fast internet is in less developed countries. It is not as easy here in the U.S. when you get outside of cities, but I travel a lot to very remote places, and while you you won't find a landline, you will have access via cell towers. It really is more common than in remote parts of the U.S.
For example on a trip to the Darien Gap I was shocked to find a cell tower in Jaque. The Darien is so remote that more people climb mount Everest each year than cross the gap. Yet even in a town with no connecting roads (you must fly there) you could get some internet service. Another example I saw last year in the Jordanian desert was when a guy I rented camels from whipped out his phone and had bitcoins!! In the middle of the desert?!
For example on a trip to the Darien Gap I was shocked to find a cell tower in Jaque. The Darien is so remote that more people climb mount Everest each year than cross the gap. Yet even in a town with no connecting roads (you must fly there) you could get some internet service. Another example I saw last year in the Jordanian desert was when a guy I rented camels from whipped out his phone and had bitcoins!! In the middle of the desert?!
That's what I thought. Everyone is going to spot read what I wrote and simplify it. Read the last part. My argument is NOT about the internet service alone.
Let me spell it out...
Getting and using the internet is just the first step in a several year long process. Those that had AOL dial up in 1995, started using online banking in 2000. If they didn't get internet access until 2000, then they didn't start online banking until 2005. Do I need to continue?
The internet access was only one part of the delay.
Let me spell it out...
Getting and using the internet is just the first step in a several year long process. Those that had AOL dial up in 1995, started using online banking in 2000. If they didn't get internet access until 2000, then they didn't start online banking until 2005. Do I need to continue?
The internet access was only one part of the delay.
Technology moves and gets adopted much faster these days and continues to grow. Just look at the technology in mobile phones and TVs and how we've gone from these basic devices with one function to having powerful computers in them. Most of the concerns people have are similar to what people said about debit cards and mobile phones etc etc. Bitcoin probably wont work in 100% of the world but neither do phones and debit cards but the technology to spread internet and mobile phone networks worlwide is already there and companies are working on remote parts of the world in Africa etc. I think I read they might even get some sort of internet for free eventually (though it will come with ads most likely).
how about using bitcoin debit cards or something similar to that?
i don't like it since you would have to go through a third party for using your bitcoin but it is a solution for situations where there is no internet access in your city! which honestly sounds strange to me since there is all kinds of internet coverage from mobile to wireless.
i don't like it since you would have to go through a third party for using your bitcoin but it is a solution for situations where there is no internet access in your city! which honestly sounds strange to me since there is all kinds of internet coverage from mobile to wireless.
Well although I also agree with most points so far, but having said that, were not that far as it seems to some. Most know google for doing some projects for bringing internet to those who are in zones out of range but that's not it. Some of the countries are in process of providing free internet on most routes they could afford to (which mostly will be used for self driven cars) but could also be used for citizens normal surfing too. The real problem is certainly the internet but that again is something that only governments could control so it's never going to be a smooth one.
I've got family in Africa. You'd be pretty goddamn amazed where great coverage appears.
Not just wide coverage but cheap too! Want just a couple dozen MB of data service? Pay $0.25 for a scratch-off code and you got it!
In order for BTC to take off it will require one basic component that does not exist yet... reliable and affordable mobile internet EVERYWHERE.
It's already everywhere through 3G/4G services. What is killing Bitcoin right now is capacity and Blockstream keeping it down. Ethereum's gonna have bigger market cap soon, Bitcoin is done thanks to selfish interests fuelled by Bilderberg money.
I understand that the US is way behind with Internet access. Some of the growth areas for Bitcoin are in Africa and other countries that people consider to be 3rd world. They seem to have reasonable cell phone coverage. Banking in the US is still way behind other countries as well. I've just sold a domain name for dollars, and the most practical way to accept payment is by cheque, which takes about 3 weeks to clear. I asked for Bitcoin, but the vendor didn't know about it.
I've got family in Africa. You'd be pretty goddamn amazed where great coverage appears. I agree that it's kinda shitty in a lot of places but that's gonna change.
I also travel into these areas too for contract work, and I am amazed at how strong the cellular networks are in these areas. Smartphones are becoming cheaper and more affordable and these people just love their phones and spend a large portion of their income on communication.
A company like 21 Inc will also come up with a solution for the unbanked in collaboration with bigger companies like Google and the Bill Gates foundation. ^smile^
I live in a developing country, yet we have access to the internet from anywhere in the country through 3G/4G mobile internet with a good connection speed. besides for spending bitcoin you will need to be in a shop, shops also can have wireless internet connection which you can connect to.
besides a tx size is so small (couple of KB) that you can send it with any slow connection.
and about the fact that not everybody has smartphones or people in rural areas of Africa (as you put it) don't trust putting their money in bitcoin, I have to say they don't trust things like PayPal, and sometimes even credit cards but this doesn't mean PayPal and credit cards are failing. the rest of the world is using them.
a new technology always reaches some parts of the world later than other parts.
besides a tx size is so small (couple of KB) that you can send it with any slow connection.
and about the fact that not everybody has smartphones or people in rural areas of Africa (as you put it) don't trust putting their money in bitcoin, I have to say they don't trust things like PayPal, and sometimes even credit cards but this doesn't mean PayPal and credit cards are failing. the rest of the world is using them.
a new technology always reaches some parts of the world later than other parts.
Jump to: