Some Countries living behind their century, taking a back sit on BTC evolution. - page 3.

Lucius

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Quote from: Mophymac on September 14, 2023, 04:10:29 PM

Bangladesh, Domican Republic, Bolivia, Nepal, Ghana, Algeria and a host of other nations seems not to understand the times and seasons as regards world changing currency BTC, despite being accepted in most part of the world.

I don't understand what exactly these countries should understand and how Bitcoin should help them? If by some miracle tomorrow all these countries declare that Bitcoin is completely legal and also a legal tender, what would change in these countries in your opinion?

In addition, one of our members was recently in one of the countries you listed and bought BTC using an ATM, so everything is not as bad as it seems to you.

Quote from: Mophymac on September 14, 2023, 04:10:29 PM

I personally think more awareness about the benefits of trading with cryptocurrencies needs to be created particularly in nations where there are restrictions and banned on cryptocurrencies and also it should be made more simple for easy use no matter the level of one literacy. More work is needed. What are your thoughts?

You can tell people about Bitcoin as much as you want, but if they don't have a job and a roof over their heads and can't put enough food on their table every day, and they don't even have the internet or only have it occasionally - what will they do with Bitcoin even if someone give it as a gift - maybe transfer it with the help of a carrier pigeon that would carry private keys instead of letters Roll Eyes

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Quote from: Mophymac on September 14, 2023, 04:10:29 PM

Bangladesh, Domican Republic, Bolivia, Nepal, Ghana, Algeria and a host of other nations seems not to understand the times and seasons as regards world changing currency BTC, despite being accepted in most part of the world.

Their governments might not recognize BTC, but I believe these guys still use cryptocurrencies as it's not easy to get ban Roll Eyes

Quote from: Mophymac on September 14, 2023, 04:10:29 PM

I personally think more awareness about the benefits of trading with cryptocurrencies needs to be created particularly in nations where there are restrictions and banned on cryptocurrencies and also it should be made more simple for easy use no matter the level of one literacy. More work is needed. What are your thoughts?

Unfortunately awareness alone won't make it easy for regulation or acceptance, because like here you talking about trading and when it comes to trading bitcoin can easily distabilize one economy as its a currency too and to protect whats already there like bonds, investors, local currency etc you need a government agency to regulate these securities ( whatever btc will deemed to be) tbh it's not that easy especially if the government is to be involved.

If it were up to me, I would rather let BTC run as a parallel currency/asset without really recognizing it as legal tender.

pooya87

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Quote from: Mophymac on September 14, 2023, 04:10:29 PM

despite being accepted in most part of the world.

Is it though? Bitcoin adoption, despite what it may feel like, is still pretty small around the globe. A lot of people may have heard the name "Bitcoin" but a tiny fraction of them have ever bothered adopting it. This is exactly why bitcoin is currently priced at $25k instead of a million dollar.

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I personally think more awareness about the benefits of trading with cryptocurrencies needs to be created particularly in nations where there are restrictions and banned on cryptocurrencies and also it should be made more simple for easy use no matter the level of one literacy. More work is needed. What are your thoughts?

First of all there is a different between using bitcoin and trading cryptocurrencies, the former is what we want and the later is not useful at all.
Secondly you have to first see why these handful of countries have banned bitcoin in first place then try to solve that reason and eradicate their concerns before the ban can be lifted. For example a country like Bangladesh doesn't have nearly enough surveillance capability like United States with its military organization called NSA to be able to fight illegal digital activities so it is understandable for Bangladesh to ban bitcoin but not US.

inthelongrun

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Quote from: DapanasFruit on September 15, 2023, 05:16:46 AM

One of the big reasons why some countries seem are not interested with Bitcoin in particular and cryptocurrency in general is because they are thinking that crypto can be empowering people and the government will be gradually losing control on many things. Well, we could not blame them all because we in crypto can be thinking of the same thing, instead of just looking at cryptocurrency as just like any other assets like gold, stocks or commodities.

It's sad because some of these countries mentioned by OP are not authoritarian countries like North Korea, China, and Iran. But these countries are third-world or developing and it might need more years before they realize that bitcoin and crypto are part of the non-stop innovations that are happening. Crypto and bitcoin are decentralized but they can regulate it. Maybe it's the insecurities of the leaders and the beliefs that lead them to make a stand to continue controlling their citizens. They didn't know that being too strict and controlling can result in something bad in the long term. No wonder China is not following real communism and its rules will continue to change in the future depending on how they see things.

DapanasFruit

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One of the big reasons why some countries seem are not interested with Bitcoin in particular and cryptocurrency in general is because they are thinking that crypto can be empowering people and the government will be gradually losing control on many things. Well, we could not blame them all because we in crypto can be thinking of the same thing, instead of just looking at cryptocurrency as just like any other assets like gold, stocks or commodities.

pinggoki

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There are other reasons why a country is set back and I think that thinking that bitcoin is a major cause of them is kind of stupid. One good example would probably be war, famine or even a corrupt regime. Bitcoin is just a small drop if you compare it to ocean which is the problem that a country faces that causes it to set back.

Nrcewker

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Quote from: serjent05 on September 14, 2023, 04:30:36 PM

I believe these countries understand what Bitcoin is, it is that the leader does not think that adopting Bitcoin will help them to improve their country. It is a matter of the leaders belief for a country to implement something new. Maybe they have more important things in mind that they think will have a better effect and improvement if implemented first than accepting Bitcoin.

The government is strictly against Bitcoins because they cannot control it. Bitcoins decentralised nature provides features that it cannot be controlled by any governing body or organisation. As they cannot control the coin, so they won’t be able to impose tax on it also. This is the main reason for which they are not making Bitcoins legal. But people still using the coin and cashing it out through P2P deals. So government still not able to do anything.

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You just mentioned the countries that are into Bitcoin investments even more, just because there is not much data to prove this claim doesn't mean I am wrong, where there is much struggles happening, Bitcoin and crypto interaction is not going to be scarce in such country.

Bangladesh people are into airdrops, bounties, crypto investment, and even crypto trading, and it's the same with many countries that aren't as big as the America or united Kingdom, I am somewhat within Africa, and Bitcoin just seems like a way to get out of poverty, in my country many people have escaped poverty because of Bitcoin.

The governments of these countries might ban crypto, it has happened in my country before, but it still won't stop people who are looking for a way to break free from poverty, believe me, these countries understand what Bitcoin is.

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More work? After mainstream appearance of Bitcoin a lot of this have been changing and countries are becoming more lenient about it. Still you are just one person who can make a difference in your community not your entire country. So start there are work with the adoption of crypto is local people are interested in it. You don't want to drag the legal problems in and get yourself into trouble either.

With a government being backward in evolution individuals have smaller roles but as more countries come in the accepting stance these countries will also chang their position. We need to keep that hope up and continue to generate more buzz about crypto.

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These countries lack in mordern infrastructure and are part of third world countries. The government are aware of Bitcoin but do not want thier citizens to venture into it. The main reason they want to keep a tight control on them. Another reason the rich want to stay rich. Those rich fund thier government to keep Bitcoin away from a common civilian. That is the reason they have either banned Bitcoin or have strict laws. Even after doing so much against Bitcoin we would find many citizens indulging in Bitcoin related activities. The government still doesn't understand that Bitcoin is currency that cannot be stopped by local laws

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Quote from: rachael9385 on September 15, 2023, 01:15:46 AM

Quote from: EFS on September 14, 2023, 07:48:30 PM

Developing countries have much bigger problems. Let alone having a fast internet, there are countries with cities that don't have proper infrastructure. In some countries, people have difficulty even accessing clean water. You can't tell these people about Bitcoin. Unfortunately, not everyone lives in the same age.

Yes, you have a clear point. Let's imagine that some of us are living in an undeveloped country that is trying to grow. As a Bitcoin investor, we will have a network challenge and a light challenge as well.

In those countries, I don't think there should be proper Bitcoin miners. They will lose their money because of no good network and light. In those countries, things can be too expensive and the cost of living will be very hard even if you have the money.

Maybe they still need to think about investing, especially in bitcoin.
They will care more about how they can survive all their challenges and difficulties.
If they can survive everything and have a better life, then they will think about having an investment, in this case investing in bitcoin.
There is still a lot that needs to be done, especially by the governments of each developing country, and it must be completed one by one and it takes time.
But it's possible that several people from each developing country already have bitcoin investments, we just don't know for sure.

Spaceman1000$

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Quote from: Mophymac on September 14, 2023, 04:10:29 PM

Bangladesh, Domican Republic, Bolivia, Nepal, Ghana, Algeria and a host of other nations seems not to understand the times and seasons as regards world changing currency BTC, despite being accepted in most part of the world.

Www.https//cryptonews.com

I personally think more awareness about the benefits of trading with cryptocurrencies needs to be created particularly in nations where there are restrictions and banned on cryptocurrencies and also it should be made more simple for easy use no matter the level of one literacy. More work is needed. What are your thoughts?

I've always been an advocate for this, there is more work that needs to be done especially in developing countries in terms of awareness about bitcoin and cryptocurrency evolution.

We understand the leader of this countries are the serious bottleneck's that have refused to accept cryptocurrency because they know that the people will be liberated financially once bitcoin is adopted.

I believe with time, the awareness will continue to spread to this countries and the citizens will come to understand More about this evolution especially within the young generation.
I will advise the citizens to learn how to do things on their own without waiting for their government.

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Quote from: serjent05 on September 14, 2023, 04:30:36 PM

I believe these countries understand what Bitcoin is, it is that the leader does not think that adopting Bitcoin will help them to improve their country. It is a matter of the leaders belief for a country to implement something new. Maybe they have more important things in mind that they think will have a better effect and improvement if implemented first than accepting Bitcoin.

Whatever the reason these countries ignore or worst ban Bitcoin because they see this as a threat to their citizen fund's safety or possibly they do not have the technology and knowledge to directly take advantage of the opportunities Bitcoin offers. But mostly I believe the government does not want to spend resources to an entity that they can not have full control.

The country may be improved, but the massive use of cryptocurrencies will undermine the power of those who rule the country. This is one of the best reasons. Others I simply don’t want to take into account, since they are more secondary than major.
So who is talking about the government spending its resources on something? It is enough to allow cryptocurrencies at a legal level and that is enough, but even such steps are not being taken. It's all about the banal fear of losing power.
P.S.
You can also add the Russian Federation to this list.

rachael9385

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Quote from: EFS on September 14, 2023, 07:48:30 PM

Developing countries have much bigger problems. Let alone having a fast internet, there are countries with cities that don't have proper infrastructure. In some countries, people have difficulty even accessing clean water. You can't tell these people about Bitcoin. Unfortunately, not everyone lives in the same age.

Yes, you have a clear point. Let's imagine that some of us are living in an undeveloped country that is trying to grow. As a Bitcoin investor, we will have a network challenge and a light challenge as well.

In those countries, I don't think there should be proper Bitcoin miners. They will lose their money because of no good network and light. In those countries, things can be too expensive and the cost of living will be very hard even if you have the money.

Despairo

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What about the Africans that lack of clean water and food? it's a basic need and yet they still not able to fulfill until now, will you want to donate all of your money to build an infrastructure in African countries? I believe no.

If those people are really interested with Bitcoin and they have a good financial, they can buy it through no KYC P2P or decentralized exchange, nothing is impossible.

bluebit25

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From a national perspective, I think there are no obstacles. The truth is that awareness and access to opportunities still take time. Similar to the story of the internet, there are still many places that are inaccessible to many people. Still don't know what it is and how to use it.

Maybe somewhere scientific technology is developing rapidly, but besides that the imbalance has not yet been able to cover the existing knowledge, I have also come across some great ideas from this very forum about teaching related to this field (only purely theoretical, due to conditions).

For the economies of many poor countries, the truth is that they are not ready to prepare for these new things, economic problems leave them without enough opportunities, humanitarian organizations or economic support... still working, small actions from individuals I think are commendable to help others.

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Quote from: Yamane_Keto on September 14, 2023, 09:04:35 PM

Some countries where the state controls everything are very slow and less flexible when making amendments to the laws and are quick to prevent anything new, but with the passage of time and more countries accepting this technology, the adoption of Bitcoin globally will be rapid, if the G20 countries, for example, use Bitcoin in commercial transactions, Within less than 4 years, 70% of the world’s countries will do that.

I am not as optimistic as you, but what I do think is that as bitcoin continues to become normalised around the world, these countries will be forced to legalise it. At the end of the day, buying bitcoin is like buying shares and it is not so dangerous for local currencies because if they are weak, people who can already save in other currencies, such as the dollar, bitcoin is just an extra option.

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Some countries where the state controls everything are very slow and less flexible when making amendments to the laws and are quick to prevent anything new, but with the passage of time and more countries accepting this technology, the adoption of Bitcoin globally will be rapid, if the G20 countries, for example, use Bitcoin in commercial transactions, Within less than 4 years, 70% of the world’s countries will do that.

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Quote from: Mophymac on September 14, 2023, 04:10:29 PM

I personally think more awareness about the benefits of trading with cryptocurrencies needs to be created particularly in nations where there are restrictions and banned on cryptocurrencies and also it should be made more simple for easy use no matter the level of one literacy. More work is needed. What are your thoughts?

Are you trying to say that those bans are there because people don't understand the benefits of trading crypto? I doubt that's the case. I believe governments know to some extent how crypto trading works. If you take a look at those regulations, the key reason is because of volatility and how it can undermine fiat as a national currency. Telling them that people can make 50% or 10x more wealth by selling BTC is not gonna help if 90% of traders lose their money. I don't think you should push that narrative if what you aim for is adoption to begin with. It is not sustainable and will likely make crypto being associated with scams or ponzi even if those are nonsense.

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Quote from: EFS on September 14, 2023, 07:48:30 PM

Developing countries have much bigger problems. Let alone having a fast internet, there are countries with cities that don't have proper infrastructure. In some countries, people have difficulty even accessing clean water. You can't tell these people about Bitcoin. Unfortunately, not everyone lives in the same age.

There are still very bad living conditions in many developing countries, in third world. No discrimination but it is fact around the world and geopolitical issues contribute a lot for poor developments in those nations.

Education can help a lot as with better knowledge, they can find better jobs and exit those locations but to change a whole nation, it needs more resources and inputs from local citizens. Most important is a society, in which politics is important, to give citizens a good environment to contribute. To have it, at least people must have laws to respect and protect basic human rights. Without it, it's very hard to see big changes in those nations.

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