The adoption of Bitcoin in poor countries: a source of conflict?

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Quote from: davis196 on November 05, 2024, 01:52:13 AM

Quote from: Kevystia on October 24, 2024, 12:38:04 PM

Do you think that the adoption of Bitcoin in poor countries as a means of payment can be a source of conflict
I asked this question because many poor countries believe they are in democracy and enjoy freedom. However, the reality is that there is still some form of domination by former colonial powers. They are free on paper, but not financially. That’s why I wonder if one day one of these countries decides to adopt Bitcoin as a means of payment and whether this could lead to conflicts.
Adopting Bitcoin could offer several advantages, such as increased financial inclusion, reduced transaction costs, and protection against inflation. However, these benefits may also raise tensions with established financial systems and governments.
Do you think a poor country will experience peace if it makes such a decision?

Adopting Bitcoin as a financial asset(and as a means of payment) and accepting Bitcoin as a legal tender are two different things.
I think that most poor countries have no problem with adopting Bitcoin as a financial asset/means of payment. I also don't think that the former colonial powers care that much about Bitcoin adoption in the poor and underdeveloped countries. Most poor countries have weak national currencies and the adoption of a globally accepted cryptocurrency might have some benefits for the citizens of those poor countries.
However, I don't think that Bitcoin is a financial panacea and you are definitely wrong about the "reduced transaction costs".

Big countries don't see it coming from small ones because it wouldn't make a difference for them - however, they will see more and more how BTC - may - help in some regards and some spheres in the finances.
It will be a good point to learn how BTC may be adapted to different needs and conditions on a much bigger scale.

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Quote from: davis196 on November 05, 2024, 01:52:13 AM

Quote from: Kevystia on October 24, 2024, 12:38:04 PM

Do you think that the adoption of Bitcoin in poor countries as a means of payment can be a source of conflict
I asked this question because many poor countries believe they are in democracy and enjoy freedom. However, the reality is that there is still some form of domination by former colonial powers. They are free on paper, but not financially. That’s why I wonder if one day one of these countries decides to adopt Bitcoin as a means of payment and whether this could lead to conflicts.
Adopting Bitcoin could offer several advantages, such as increased financial inclusion, reduced transaction costs, and protection against inflation. However, these benefits may also raise tensions with established financial systems and governments.
Do you think a poor country will experience peace if it makes such a decision?

Adopting Bitcoin as a financial asset(and as a means of payment) and accepting Bitcoin as a legal tender are two different things.
I think that most poor countries have no problem with adopting Bitcoin as a financial asset/means of payment. I also don't think that the former colonial powers care that much about Bitcoin adoption in the poor and underdeveloped countries. Most poor countries have weak national currencies and the adoption of a globally accepted cryptocurrency might have some benefits for the citizens of those poor countries.
However, I don't think that Bitcoin is a financial panacea and you are definitely wrong about the "reduced transaction costs".

BTC is for reserves, in my opinion - it's considered a digital gold not without a reason.
The place of digital oil and money would take someone else.. LTC, for example!

davis196

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Quote from: Kevystia on October 24, 2024, 12:38:04 PM

Do you think that the adoption of Bitcoin in poor countries as a means of payment can be a source of conflict
I asked this question because many poor countries believe they are in democracy and enjoy freedom. However, the reality is that there is still some form of domination by former colonial powers. They are free on paper, but not financially. That’s why I wonder if one day one of these countries decides to adopt Bitcoin as a means of payment and whether this could lead to conflicts.
Adopting Bitcoin could offer several advantages, such as increased financial inclusion, reduced transaction costs, and protection against inflation. However, these benefits may also raise tensions with established financial systems and governments.
Do you think a poor country will experience peace if it makes such a decision?

Adopting Bitcoin as a financial asset(and as a means of payment) and accepting Bitcoin as a legal tender are two different things.
I think that most poor countries have no problem with adopting Bitcoin as a financial asset/means of payment. I also don't think that the former colonial powers care that much about Bitcoin adoption in the poor and underdeveloped countries. Most poor countries have weak national currencies and the adoption of a globally accepted cryptocurrency might have some benefits for the citizens of those poor countries.
However, I don't think that Bitcoin is a financial panacea and you are definitely wrong about the "reduced transaction costs".

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Quote from: Questat on November 04, 2024, 11:57:28 AM

The risk of conflict and instability will always be present, same with what El Salvador has faced during the proposal for bitcoin as a legal currency. However, with proper understanding and guidance from a good leader, everything will be put into order, but it will definitely takes some time.

One thing that will surely arise as a potential conflict is the regulatory challenges. No matter how the government may try to regulate bitcoin, but seeing other users taking it for illicit activities, that would definitely create a chaos between the government and the bitcoin users. This could be manageable probably but is quite inevitable becoming it a strong issue.

Take a look at the dollar - and it isn't considered an illicit activity to use in such ways too - it's just the question - who - uses BTC at this point for now..
And the big fellas from the Central Bank and other entities like it.

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Quote from: Ucy on November 04, 2024, 12:18:31 PM

Most people on Earth are under the power of governments for obvious reasons. The World's system is designed like a prison such that the confined ones are under constant supervision unless they become responsible enough to be free to use stuff like Bitcoin without too much supervision. There will certainly be issues if those that should be supervised are able to function without supervision. The way out of this is to enable them use bitcoin in controlled manner. Or allow bitcoin to exist as a sovereign network/currency where participants or users are able to check and balance one another's activities and even agree to cooperate with governments on certain issues.

I would say it's better to put as much less of a hassle onto the government as possible. As it was said, once things are not going their way, you will be out of the picture, which isn't a good way, in my opinion.

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Quote from: Reatim on November 05, 2024, 01:00:27 AM

Quote from: Ucy on November 04, 2024, 12:18:31 PM

There will certainly be issues if those that should be supervised are able to function without supervision. The way out of this is to enable them use bitcoin in controlled manner. Or allow bitcoin to exist as a sovereign network/currency where participants or users are able to check and balance one another's activities and even agree to cooperate with governments on certain issues.

Allowing their citizens to use bitcoin in a controlled manner is not freedom and that is quite literally what most people do not want. Bitcoin enthusiasts are aiming for freedom and decentralization and giving at least a small part of their freedom to the government is not complete freedom at all. additionally the government will not really be able to give off all control but even if they act like they are only there to supervise, once they see something that do not go their way they will surely butt in and take away what their citizens have under the pretense of law and order. So it does not work either way.

It's either all in for doing it yourself or being regulated - but you shouldn't be embarrassed if something happens because of what you described in your post.
Choose your edge of the sword Grin

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Quote from: Ucy on November 04, 2024, 12:18:31 PM

There will certainly be issues if those that should be supervised are able to function without supervision. The way out of this is to enable them use bitcoin in controlled manner. Or allow bitcoin to exist as a sovereign network/currency where participants or users are able to check and balance one another's activities and even agree to cooperate with governments on certain issues.

Allowing their citizens to use bitcoin in a controlled manner is not freedom and that is quite literally what most people do not want. Bitcoin enthusiasts are aiming for freedom and decentralization and giving at least a small part of their freedom to the government is not complete freedom at all. additionally the government will not really be able to give off all control but even if they act like they are only there to supervise, once they see something that do not go their way they will surely butt in and take away what their citizens have under the pretense of law and order. So it does not work either way.

Ucy

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Most people on Earth are under the power of governments for obvious reasons. The World's system is designed like a prison such that the confined ones are under constant supervision unless they become responsible enough to be free to use stuff like Bitcoin without too much supervision. There will certainly be issues if those that should be supervised are able to function without supervision. The way out of this is to enable them use bitcoin in controlled manner. Or allow bitcoin to exist as a sovereign network/currency where participants or users are able to check and balance one another's activities and even agree to cooperate with governments on certain issues.

Questat

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The risk of conflict and instability will always be present, same with what El Salvador has faced during the proposal for bitcoin as a legal currency. However, with proper understanding and guidance from a good leader, everything will be put into order, but it will definitely takes some time.

One thing that will surely arise as a potential conflict is the regulatory challenges. No matter how the government may try to regulate bitcoin, but seeing other users taking it for illicit activities, that would definitely create a chaos between the government and the bitcoin users. This could be manageable probably but is quite inevitable becoming it a strong issue.

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Quote from: Jawhead999 on November 03, 2024, 10:38:50 AM

Yep especially with the country that aren't accept technology, they don't even know how to use internet and the devices.

It's need a good understanding in technology, someone who already know how to use devices and internet sometime still don't know anything with Bitcoin and they're prone to be scammed.

The more knowledge, practice and experience they have with Internet and devices connect to Internet and interactions on Internet, they will become less vulnerable to online scams. In modern world nowadays, I see it's hard to find any nation without Internet and people will have access to Internet, more or less from developed to developing countries and third-world nations.

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It will be not effective to adopt Bitcoin in poor countries.

If they are in poor countries, have been unbanked or under-banked for years, they will see more reasons to join Bitcoin and have their own banks. There will be barriers but they can adopt Bitcoin if they want.

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Quote from: Peanutswar on November 02, 2024, 10:02:09 AM

It doesn't mean that once a poor country already adopted the use of the Bitcoin they will get in.the bottom of the line because still it's on the government how they will manage their country and if the Bitcoin just adopted and they have the same thing happens in their country even the price of the Bitcoin doesn't tick at all. Even though we want to help with the Bitcoin but if the country is not innovative at all it's become useless. Reason why Bitcoin is open for everyone but not applicable to all.

Yep especially with the country that aren't accept technology, they don't even know how to use internet and the devices.

It's need a good understanding in technology, someone who already know how to use devices and internet sometime still don't know anything with Bitcoin and they're prone to be scammed.

It will be not effective to adopt Bitcoin in poor countries.

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It doesn't mean that once a poor country already adopted the use of the Bitcoin they will get in.the bottom of the line because still it's on the government how they will manage their country and if the Bitcoin just adopted and they have the same thing happens in their country even the price of the Bitcoin doesn't tick at all. Even though we want to help with the Bitcoin but if the country is not innovative at all it's become useless. Reason why Bitcoin is open for everyone but not applicable to all.

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Quote from: Kevystia on October 24, 2024, 12:38:04 PM

Do you think that the adoption of Bitcoin in poor countries as a means of payment can be a source of conflict
I asked this question because many poor countries believe they are in democracy and enjoy freedom. However, the reality is that there is still some form of domination by former colonial powers. They are free on paper, but not financially. That’s why I wonder if one day one of these countries decides to adopt Bitcoin as a means of payment and whether this could lead to conflicts.

the main area where countries that were previously colonized still looks like they are still under the control of their colonial masters is in area relating to certain economic policies that require dealing with those said nation. The underdevelopment and lack of technological systems makes it impossible to depend on themselves for all her need which is basically how the structure of the global economy works. If there's a need to adopt Bitcoin, it doesn't in any way have a dealing with who is whose colonial masters.

Apart from instances where the countries intention is to use Bitcoin as her reserve outside the USDT, if it's just on the aspect of allowing citizens to invest, and operate cryptocurrency related transactions seamlessly without government regulations, there won't be a need for the government to play a pivotal role in such decisions at all.

Poor countries even need Bitcoin more than the developed ones since thier currency has lost it value, inflation has risen too high and the only edge against it will be the use of Bitcoin as a store of value. Conflict is almost like a constant as far as you're talking of a region that's engulfed with poverty so with or without Bitcoin adoption, it wouldn't change a thing.

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Quote from: Kevystia on October 24, 2024, 12:38:04 PM

Do you think that the adoption of Bitcoin in poor countries as a means of payment can be a source of conflict

Are you implying that where conflict is found bitcoin thrives Huh

Venezuela had a bad patch and bitcoin seemed to be the preferred mode of Payment, not sure on the conflict standing...

Zimbabwe had a collapsed currency to the extent of having the USD of the USA being a currency to be used as substitute currency but this could not be supported and resulted in opting for cryptos like Bitcoin which were traded at a premium...but what was upset was the conflict and I don't think headline fills in the gap.

Currently Russia-Ukraine is in crossfire but I don't think Bitcoin is stealing the headline as several modes of payment exist in affected places , but does this make these two countries poor, I don't think so...

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Quote from: Aanuoluwatofunmi on October 24, 2024, 12:51:11 PM

Quote from: Kevystia on October 24, 2024, 12:38:04 PM

Do you think that the adoption of Bitcoin in poor countries as a means of payment can be a source of conflict

No, bitcoin can rather be a means to resolve any lingering conflict dealing with a country if adopted, we have a very good example with how bitcoin was being adopted as a legal tender in El-Salvador and ever since then, things have been working more better for them, despite not considering the series of warnings from the IMF over their decision, this thought us a lot of lessons, that no one can see or feel our pains the same way we do, even when they assume to be in our shoe, once we are made up for a determination, then we should go straight up for it without looking back or giving up.

Quote from: Kevystia on October 24, 2024, 12:38:04 PM

I asked this question because many poor countries believe they are in democracy and enjoy freedom.

The basic concept behind democracy has made many to be making demo and craze all in the name of doing democracy, because the intention was taken away long time ago and the freedom had been deprived of the masses, a true democracy is what we have in bitcoin and not politics because the people are free on their own finances, while bitcoin remains a decentralized digital currency.

Inasmuch as Bitcoin can stand to resolve lingering conflict issues in the said country,especially when it involves economic growth and financial stability,it's not a big deal or a necessity for any country to adopt Bitcoin.Its a decision for once but if the legalities and the country's interest doesn't correspond then;so be it.The major tool can be unfavorable all together.
Bitcoin will not solve socio-political adversities because there'll be so much conflicts while implementing Bitcoin as means of mediation.

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Quote from: Solosanz on October 26, 2024, 11:24:27 AM

No, there's no source of conflict.

Quote from: Marvell1 on October 26, 2024, 04:18:44 AM

Adopting bitcoin or governments of poor countries allowing their citizens to invest in bitcoin is not entirely pointless as bitcoin is also a potential investment. Because if they have good knowledge and strategy then they still have a chance to make money from bitcoin. But to solve a country's unemployment and poverty problems, the government needs more practical solutions than just relying on bitcoin. The government needs to find ways to improve people's lives by reducing taxes, creating more jobs, promoting the country's strengths... not just relying on bitcoin to improve the economy. A country's economy doesn't work that way and bitcoin is not the god that can save everything.

That's true, unfortunately most (probably all) of poor countries are have a corrupt government. You're hoping the government to reduce taxes, creating more jobs etc, but if the government is the one who corrupt, there's no way they will improve their country.

All they want is enrich themselves, actually they're more happy to see their citizen are struggling.

I've been saying this in the past and I will still mention this, any country that plans to pursue a sustainable development must look deeply into the welfarism of the citizens first before anything. And I am more in tune with a socialist state than a capitalist state because it tends to open more space to the people to have some level of ownership in the economy.

My only issue sometimes with a socialist state is it breeds more stagnation in the development of a country's economy especially if people at the helm of affairs have personal interests which is usually above the interest of the people. In such country, socialism will not work effectively as state resources will still end up in the hands of the few instead of the general public.

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The narrative of being under control and domination from colonial powers is just an excuse to justify the current chaos these countries face in present time. Instead of changing their conduct, people from these countries blame foreigners for their own mistakes and failures.

Bitcoin can't help this way, because the problem isn't solely financial, but a problem of mindset. If the mindset doesn't change, these countries will remain poor.

It's necessary to have discipline, focus and the desire to evolve. If you remove your thoughts from the victimization and directs it to personal development, you will start seeing considerable improvements in your life.

Then, and only then, Bitcoin can become an useful tool in this process.

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Quote from: SamReomo on October 24, 2024, 08:13:26 PM

No, adoption of Bitcoin in even poor countries won't cause much conflict, I know if suddenly Bitcoin losses value during the bear market then many of the citizens of those poor countries would not use it as a payment method and consider fiat superior to it but it won't cause any conflicts.

There's some chance that corrupt politicians of the poor countries then might use Bitcoin to hide traces of their corruption or the ones who are against Bitcoin might show that something like that could happen but still even that won't be cause of any conflicts directly.

One thing that is important is that investors who are in poor countries will definitely face problems in bitcoin adaptation if the market suddenly dumps after Investing in bitcoin and they face losses on their investment. That's why poor countries are more interested in fiat currencies than bitcoin. However, it is different for corrupt countries, they value bitcoin more than fiat currency for money laundering. The list of corrupt countries in my country is definitely above and in our country Corrupt people are giving the most important to bitcoin for money laundering. Bitcoin is not legalized in my country but it is ranked 37th in the world in terms of bitcoin transactions in the country.

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Quote from: Kevystia on October 24, 2024, 12:38:04 PM

Do you think that the adoption of Bitcoin in poor countries as a means of payment can be a source of conflict
I asked this question because many poor countries believe they are in democracy and enjoy freedom. However, the reality is that there is still some form of domination by former colonial powers. They are free on paper, but not financially. That’s why I wonder if one day one of these countries decides to adopt Bitcoin as a means of payment and whether this could lead to conflicts.
Adopting Bitcoin could offer several advantages, such as increased financial inclusion, reduced transaction costs, and protection against inflation. However, these benefits may also raise tensions with established financial systems and governments.
Do you think a poor country will experience peace if it makes such a decision?

A that is still under the direct or indirect control of another strong nation cannot be financially independent. They will have to get approval from their colonial masters before they make any policy. This was the case in the Central African Republic when they adopted Bitcoin as a legal tender. This African country is under the control of France and they didn't even have a central bank. The adoption of Bitcoin caused a lot of conflict between CAR, France and other Francophone countries in Africa. The policy conflicted with the neo-colonial goals of France which made CAR repeal the law after a few months.

However, El Salvador was able to withstand and overcome the pressures from the international Organisation to limit its exposure to Bitcoin. Therefore regardless of the colonial ties, a strong-willed leader like Bukele can still make a difference.

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Quote from: mirakal on October 26, 2024, 06:56:12 AM

I really don’t see how this could cause any conflicts. If you’re saying banks would suffer from losing clients or seeing fewer deposits, you're mistaken—no one’s saying fiat money is going away. Let’s remember, bitcoin’s role is simply to be an alternative, so people are still going to use banks.

Maybe I’m wrong, and you're actually talking about politics and their interests. But honestly, fiat money still dominates the market, and bitcoin will continue to be just an alternative. Let’s not focus on the negatives here, or we’ll miss out on the great benefits it’s bringing."

Poor countries, we're talking about countries that are poor in finances, resources and trust me, there's imbalance in the country's budget. Poor countries have only one main task, that's simply to enable stability of initial provisions of citizen needs and wants, everything becomes settled. Bitcoin and fiat currency are both important for the statis structure of the country's economy and I do not see them becoming any threats. Rather the government should focused on sorting out the complex matters at hand, handling with crypto and the real business of the day, politics. Everyone have what they stick to in the system. It's free spirit to have belief in the main compressing features of the system.

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