The adoption of Bitcoin in poor countries: a source of conflict? - page 2.

Solosanz

hero member

Activity: 952

Merit: 662

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.

mirakal

legendary

Activity: 3108

Merit: 1290

Leading Crypto Sports Betting & Casino Platform

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."

Kelward

sr. member

Activity: 630

Merit: 352

Quote from: Finestream on October 24, 2024, 03:59:51 PM

I don't think it is. Bitcoin adoption is meant to give us freedom from the government and banks and be with our own bank. If a country aims to increase financial stability and financial freedom of its people, then it wouldn't create any conflict. Only the greedy people sitting in the government make it as an issue, but for a poor country that is lead by an open-minded leader, bitcoin becomes an asset and an opportunity, not a threat.

Adoption of Bitcoin as a legal tender by a poor country can not degenerate to any conflicts as far as I know, the privacy and freedom that Bitcoin guarantees to it's holders is the same benefits that the country will enjoy. A very good case study is El Salvador, so far we've not heard of any conflicts in that country because of Bitcoin. Conflicts are caused because of the interests of the leadership in a country, whether it's favorable to their citizens or not is another matter altogether. If a country whether rich or poor adopts Bitcoin, and if they have proactive leaders, then Bitcoin will become a true asset for their economy.

Marvell1

legendary

Activity: 2408

Merit: 1102

Leading Crypto Sports Betting & Casino Platform

Quote from: jcojci on October 26, 2024, 01:15:19 AM

At least, they have a hope that they can make a profit in the future especially if they continue investing in Bitcoin. Instead of using their money for other things that they are unclear, they can start to invest in Bitcoin and even if in the middle of their journey, they have a problem, they will know how to solve it by reading and search for more information. They can still trying to earns money from many ways and use some portions to invest in Bitcoin so they will prepares for their future instead to use Bitcoin as only for a means of payment.

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.

jcojci

full member

Activity: 784

Merit: 115

Quote from: BALIK on October 24, 2024, 10:19:29 PM

I agree, using bitcoin as currency in poor countries won't cause any conflicts but it won't solve any problems for them, it won't help them reduce transaction fees or help people escape inflation like OP said. Using bitcoin as an investment can bring more benefits, but it is not without barriers because investing in bitcoin requires money, while where will the poor get money to invest? Also, investing in bitcoin does not guarantee profits, not everyone can make profits just by investing, it requires proper planning and strategy. But at least it creates opportunities for those who know how to seize them to have a chance to escape poverty.

At least, they have a hope that they can make a profit in the future especially if they continue investing in Bitcoin. Instead of using their money for other things that they are unclear, they can start to invest in Bitcoin and even if in the middle of their journey, they have a problem, they will know how to solve it by reading and search for more information. They can still trying to earns money from many ways and use some portions to invest in Bitcoin so they will prepares for their future instead to use Bitcoin as only for a means of payment.

yhiaali3

legendary

Activity: 1848

Merit: 1982

Payment Gateway Allows Recurring Payments

Governments, especially in poor countries, see it the other way around. They think that through the old centralized system of total control and central banks, they can bring in more money through taxes and by printing more worthless paper money.

So they don't see Bitcoin as a good way to get rid of the forms of domination by colonial powers as you think. On the contrary, they probably think that adopting Bitcoin will be the reason for the loss of control and money from their hands because it is decentralized.

So I expect that they would rather remain under the domination of powerful countries than lose control completely from their hands.

AmoreJaz

legendary

Activity: 3122

Merit: 1102

Leading Crypto Sports Betting & Casino Platform

Quote from: Hyphen(-) on October 25, 2024, 12:44:08 PM

These countries you are referring should be under develop countries, and underdeveloped countries might have shortage of technology which means it will be difficult for them to accept Bitcoin as legal tender because we all know that technical knowledge is needed to handle and control Bitcoin.

And countries that are not completely free by their colonials can have access to something’s, but taking the decision to accept Bitcoin can be very hard for them.

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

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?

Poor countries need money to run their countries, and they can end up taking loan from other countries to survive. Holding Bitcoin can help them but they need to have extra money as reserve so that they can hold the Bitcoin for long to help them fight inflation, and they can use the profit to develop their countries.

Their priority will be different as they will aim for electricity or food before any advancement in technology. This is why, it will be a challenge for poor countries to promote new tech because they have other basic needs to address first. People will ask for better living conditions rather than new payment method. We need to put ourselves in their shoes so we know how they feel about this situation.

Miles2006

sr. member

Activity: 182

Merit: 120

There’s no such as conflict if this law should be implemented in an under-develop country but my question is who made the law? The government. They’ll not accept this mostly when it’s associated with rural areas, no doubt bitcoin adoption is needed but looking at El Salvador they’re totally different from other countries refusing to accept bitcoin and definitely once the government decide a law either against bitcoin or not there’s no point creating conflict against the country.

justdimin

hero member

Activity: 3220

Merit: 678

www.Crypto.Games: Multiple coins, multiple games

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?

Being afraid of "colonial powers" in 2024 to meddle with you isn't really that easy to handle. Look at El Salvador, they tried to talk about Bukele like he is a maniac, but in reality he did made his country safer than any other nation. The only thing they can attack them about is how he treats prisoners, but they do not realize the "rehabilitation" of the west doesn't work in El Salvador, so they had to be ruthless to make sure everywhere is safe and make sure criminals fear what could happen if they get caught.

Some criminals are just evil people and they will do whatever they want even with fear of death, but others? People who go into crime because they feel like they have no other choice? They would rather starve to death than go into crime after seeing what happened. Same goes with bitcoin, they tried to warn him with IMF, but obviously he didn't care, west will keep on attacking him, but he will keep on making his nation much better on the long run.

alastantiger

sr. member

Activity: 728

Merit: 444

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.

In the poor countries there are some group of people enjoying the privileges that others aren't enjoying hence they'll be against everybody having the same freedom as they do which Bitcoin can offer because with the adoption of Bitcoin, everybody will be having the same financial benefits. But with the current way their system is structured, it'll be hard for the same privileges to get to everyone. Alot of poor countries don't have democracy but they're being lied to that they do. Poor countries don't need Bitcoin right now, the have other challenges that needs to be handled before they start to think about adopting Bitcoin. There are electricity, good government, road and other issues that are more important and they have to focus on that first before thinking about how Bitcoin can help them. Bitcoin needs electricity but most poor counties don't have or they can't afford electricity 24hrs in a day.

Hyphen(-)

hero member

Activity: 1022

Merit: 744

These countries you are referring should be under develop countries, and underdeveloped countries might have shortage of technology which means it will be difficult for them to accept Bitcoin as legal tender because we all know that technical knowledge is needed to handle and control Bitcoin.

And countries that are not completely free by their colonials can have access to something’s, but taking the decision to accept Bitcoin can be very hard for them.

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

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?

Poor countries need money to run their countries, and they can end up taking loan from other countries to survive. Holding Bitcoin can help them but they need to have extra money as reserve so that they can hold the Bitcoin for long to help them fight inflation, and they can use the profit to develop their countries.

Ruttoshi

sr. member

Activity: 476

Merit: 385

Baba God Noni

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?

It's the choice of the government of that country to legalize bitcoin and not their colonial master. That doesn't stop the poor country from paying homage to the country who colonized them because they have adopted bitcoin. Bitcoin freedom is from third-party control over your funds and financial transactions, and not from the exploitation of the country that colonized your country.

Therefore, if a poor country adopts bitcoin doesn't mean that he is free from her colonial master exploits because if you don't accept, they will take it by force in a civilized way.

AVE5

full member

Activity: 350

Merit: 128

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

Do you think a poor country will experience peace if it makes such a decision?

Yes they can. Let's take the US being far richer than the El Salvador but yet El Salvadorian government has accepted bitcoin for its legal tender for payments and services but yet US being a strong hold of bitcoin are still agitating and considering the adoption of bitcoin for legal tenders.
El Salvador was able to diminish the potential conflicts between bitcoin and her economy drifts after spotting that bitcoin would boosten their regional economy following after they have structured how bitcoin would strengthen their economy infrastructures.
This is not just about waking up and adopts bitcoin for legal tenders without sentiments views and how to resolve them.

Swordsoffreedom

legendary

Activity: 2884

Merit: 1115

Leading Crypto Sports Betting & Casino Platform

Quote from: Kevystia on October 25, 2024, 05:11:55 AM

I took the time to read your various responses, and I really appreciated them. That said, I think this could lead to conflicts. First, there are often tensions between African countries, which do not always get along. Each has its own concerns and priorities, and this complicates things. Moreover, we cannot ignore that some former colonial powers still exert a form of dominance over us. It is frustrating to see how history continues to influence our relationships. And then, there is the fact that in some countries, the currency used is not even manufactured locally. This raises questions about economic sovereignty and the ability to control their own resources.

Your worries and doubts are not entirely wrong, I understand what you say. Theoretically, a country adopting bitcoin as a currency would not create any conflicts, so people are not wrong to have such a view. But when it comes to politics and national interests, things are much more complicated than people think, and your concerns are valid.

Conflict could still arise if a country adopts bitcoin but unintentionally disadvantages neighboring countries or affects the interests of dominant powers in that country. Therefore, whether the application of bitcoin into the economy will create conflict or not will depend on the political situation of each country, and domestic and foreign relations...it can be said that there are many factors to consider. Similar to wars today, it all involves interests between nations and disagreements between politicians...

Baki202

full member

Activity: 532

Merit: 211

Quote from: Oluwa-btc on October 25, 2024, 02:19:25 AM

I don't see a reason why the adoption of Bitcoin can results in conflicts between different countries especially the underdeveloped poor countries, but rather it's adoption will emerge the country to be independent and enjoy freedom like you said and it's a better priveledge for them. So it's of great advantages to poor countries adopting Bitcoin as a legal tender cause it'll definitely boost their financial state but tho the country may experience conflicts within them especially with the government trying to decide on it's usage and adoption but aside that they'll eventually have peace.

Exactly, have have multiple thoughts of how bitcoin would cause conflict because this is like an investment that a lot of people have benefited from why would it be the reason for conflict again so this is just a misconception about bitcoin. We all know what bitcoin was invested for, but developed and underdeveloped are all fighting for them to be able to invest in bitcoin they have all turned it to be a means of surviving, the privilege is true, they should be happy to be able to even invest. And that is why I respect countries that encourage their youths to go into bitcoin, their is nothing for them when it comes to work train them into traders and other tech sectors if possible the only thing is the government will want to do what will benefit them, that is the politicians, be should rather see bitcoin as a blessing than a curse, bitcoin those not cause conflict.

Mia Chloe

sr. member

Activity: 448

Merit: 560

Crypto Casino and Sportsbook

One good thing about bitcoin investments is that aside from being very easy to manage and attain, it can also be used as an investment in both a large scale, even in the case of a whole country and even for smaller HODLERs. Inflation has been a world problem for quite a very long time now and different countries have their ways of combating and managing it's effect on their economy. Some countries like el Salvador have tried implementing the in the past.

Bitcoin isn't a source of conflict. I'll rather call it a neutral flexible currency. To be sincere, bitcoin can be used for good and to prevent conflict as much as it can be used to fuel conflicts just like regular fiat can be used as a payment method for wrong things too. The idea is I actually don't see bitcoin as the cause.

fikrett

copper member

Activity: 126

Merit: 6

Quote from: Iranus on October 25, 2024, 04:35:20 AM

As some have said, adopting bitcoin in poor countries will not create any conflicts but the issue that the government of that country should consider is what benefits it will bring and what impact it will have on their economy.

If their goal and intention is to find ways to improve the economy. Honestly, I don't see much benefit in a country making bitcoin a currency, it won't help them improve their economy and people's lives.

To improve the country's economy, the government needs to be strong in fighting corruption, finding ways to create more jobs and bring more benefits to the people. Using a decentralized and highly volatile asset will not improve a country's economy or sometimes make things worse because it is harder to control.

In the case of a small country like El Sal, they would able to make a good crypto hub for funds to flow, though, it would need more than just a talk and much of the expertise gathered to make such a feat possible.
And don't start on the regulations.. Grin

Kevystia

newbie

Activity: 28

Merit: 0

I took the time to read your various responses, and I really appreciated them. That said, I think this could lead to conflicts. First, there are often tensions between African countries, which do not always get along. Each has its own concerns and priorities, and this complicates things. Moreover, we cannot ignore that some former colonial powers still exert a form of dominance over us. It is frustrating to see how history continues to influence our relationships. And then, there is the fact that in some countries, the currency used is not even manufactured locally. This raises questions about economic sovereignty and the ability to control their own resources.

kryptqnick

legendary

Activity: 3248

Merit: 1402

Join the world-leading crypto sportsbook NOW!

Freedom can mean different things. There's freedom of a country from other countries, which can be political and economic. Then there's freedom inside the country (freedom of citizens), which can also be political and economic. When people live in a democracy, it usually means there is political freedom of citizens and at least some degree of economic freedom of citizens. To be an independent country, there should also be political freedom from other countries, but as for financial freedom from other countries, that isn't always the case and doesn't directly impact whether a country is a democracy or not.
Adoption of Bitcoin as a legal tender is related to financial freedom of both citizens (unless it's custodial wallets only) and the state. I don't think it would lead to conflicts between citizens, and I don't think it's a big enough deal to lead to very strong tension between states, but it might be viewed as a bad move and a country might be pressured internationally to abandon Bitcoin or not adopt it in the first place. We've seen an example of this when the IMF was unhappy about El Salvador's decision to adopt Bitcoin, and the pressure from the IMF continues till this day.

Iranus

hero member

Activity: 1792

Merit: 534

Leading Crypto Sports Betting & Casino Platform

As some have said, adopting bitcoin in poor countries will not create any conflicts but the issue that the government of that country should consider is what benefits it will bring and what impact it will have on their economy.

If their goal and intention is to find ways to improve the economy. Honestly, I don't see much benefit in a country making bitcoin a currency, it won't help them improve their economy and people's lives.

To improve the country's economy, the government needs to be strong in fighting corruption, finding ways to create more jobs and bring more benefits to the people. Using a decentralized and highly volatile asset will not improve a country's economy or sometimes make things worse because it is harder to control.

Topic: The adoption of Bitcoin in poor countries: a source of conflict? - page 2. (Read 663 times)