Topic: The gap between poor and rich countries, a major impediment to global adoption (Read 317 times)

I am very sure and I know it cannot be that bad since I have been to some African countries in the past, and I noticed that in places like Nigeria, South Africa and few other countries in Africa really do have a lot of people with great interest since they have access to the internet anyway, so over time, it might take a gradual process seeing the same impact in the developed countries in the underdeveloped countries, but I believe over time things will gradually change.

obsulotely right. This topic in most parts of pleasant America and in the African country can be the aspect of the borrowing rate of a cryptocurrency. we will think of the situation in which the countries are located, it moves in the same pound of Europe and Asia. The time is up for a cryptocurrency that reaches all Africa.

Right now we are really having a hard time with how economy works, it is really hard that we have to work hard for us to survive and there is a gap between rich and poor, but what can I say is it is up to us how we are going to make ourselves financially free, and crypto is one of the best way for us to become rich one, with this we can adapt as well global adoption.

I think you and your country needs to focus more on these three things first before you even think about Bitcoin being a global currency. Yes it is good that you are setting your sights to BTC becoming a global currency but it is actually achievable if everyone in your country is literate both educationally and technologically as there will be no existing barriers if that happens in the future. Right now what you can only hope for is that your government will find a way to have progress on the things you have mentioned.

I'm also from an underdevelopment country, the situation here is pretty cool. Everyone likes to welcome new technologies including the blockchain. I won't say that it has grown in the mass type, but I can see it's growing rapidly. So, now it's just a matter of time to reach person to person when everyone will have a bitcoin/crypto wallet.

That is always the thing and there is nothing that can be done as you will definitely see some factions left out as a result of trying to adapt to technology and how accessible it is for them. Even in the developed countries, not everyone will certainly want to stress themselves with adaptation.

By the way, a lot of Africans are really digging the whole idea of cryptocurrency and blockchain technology and you had be surprised at the level a lot of them are seeing it more than those in the developed countries, but at the same time, we know already that this would still be a faction of those who are internet savvies at the end of the day or those who just like adapting technology pretty quick.

Hi there, I lived in Asia, you can say its a 3rd world country but it doesn't mean we are ignorant of what this revolution can bring on the table. We have our local trading exchanges and believed me interest is high not only in my country but the rest of the world.


No mate, that's not the case. As you can see in the post above me, Africa seems to be adopting, its might be slow and painful process but I'm sure no country wanted to be left out. And remember that crypto is still in its infancy, there are a lot of things than can happen and its inevitable, sooner or later in the next 5-10 years crypto and blockchain will take over.

when you know a lot about the crypto world, while people around you don't know what crypto is, isn't it your job to teach people around you? everything starts from the small thing and will continue to grow into a hill so that it can be seen by everyone
when you have benefited a lot from crypto, people will begin to be interested in getting to know and learn crypto from the success gained by you

I find it hard to understand why you’re bother about the adoption of your region in cryptocurrency while you can still purchase the coins even if the government has no actual stands regarding this community

And for me i found this as opportunity to be oneof the firet holder of the future Currency and technology,what you need to do is gather all the crypto you can have and just wait until your country become a crypto sanctuary in future,and you will find what i mean here

How can people think about new technologies if (sorry) there is nothing to eat?In addition to delve into new technologies need to have a sufficient level of education.Unfortunately not everyone has it.Over time, I think the problem will be solved and new technologies will be used everywhere

Yes the people residing in rich countries are having more money to spend; are educationally qualified; are closer to and aware of technical developments; that is why the number of people using bitcoin / crypto in these countries is more than the number of people residing in poor countries.
But I would rather go ahead with one more step that rich people in both rich and poor countries are adopting at faster rate in comparison to poor people living below poverty line in both type of countries.  
Poor people are more worried about their food; clothing and housing and they do not get any time for other activities.

this is what makes the difference about the first world and third world country, the uneven distribution of education and technology

Yes, there is a lot of adoption in most of the African countries, and most especially the well known and giant ones. I was in some part of Africa lately, precisely, South Africa, Zimbabwe, Nigeria and Kenya, and I must say I was extremely impressed. Moving around, I purposely try as much as possible to spark up discussions about cryptocurrencies just for curiosity sake and I was amazed that a lot of the well educated people in Africa are so much enlightened on not just cryptocurrency but blockchain technology. Trust me mate, the believe most especially when I was in Nigeria was off the hook with the idea that this is actually a disruption and it is going to help change a whole lot of things. I met quite a number of different groups in these places and in different regions, and I won't say it was just a coincidence or luck that made me meet the enlightened ones.

In this case, I do not believe that at some point, a lot of people will still not get to know about it and with the way things are going, it might not be the whole Africa, as obviously I cannot just use 4 countries in Africa to judge, but at least from what I saw, the prospect in this places are there. With respect to Nigerians paying a lot, I guess you are mistaking it with Zimbabwe. For now, Luno seems to be the fast growing exchange, taking over these countries, and with Luno while in Nigeria, I was able to do some transactions myself, using a friend's account in this country.

The gap between poor people and rich countries is that, those rich can invest a huge amount and earn more profit, that is the reason why there are so many price manipulators as well.

The problem is people who are in the poverty line can't break from the chains since capitalists are continuously making the gap wide between the rich and the poor by making the poor work more for less. Perhaps the poor can adapt cryptocurrencies, but with the little time they have left to study crypto, the harder it is for them to understand and see the positive effect of it to their lives. Though cryptocurrencies might alleviate some of the weight, I don't see it single-handedly removing the problem altogether.

Yeah, i would agree to that. When i was visiting underdeveloped asian countries, i saw that tendency too.

I think that with the ease at which people can use bitcoin with user friendly wallets such as Electrum which still lets you control your own private keys, you really don't need that much technical expertise to use bitcoin per se anymore.

I really think that a lot of the population in these countries are not adopting bitcoin not because they don't have the means to do so, but because they are simply not aware of the fact that bitcoin exists, and there is no reason to adopt bitcoin at this stage if their country's economy is relatively stable.

It's not really a major impediment at all, but rather just a short term phenomenon of people being unaware of this technology. If the rest of the world catches on and bitcoin becomes an integral part of commercial activities on the internet, and/or their fiat currency collapses, they will have the means and need to adopt bitcoin in my opinion.

If you say that there are very few people who are fond of cryptocurrencies in African or Latin American countries. So maybe you can make good money on it. Why don't you make an exchange. On your site or to create a bot telegrams to be exchanged between the parties. You have so many examples of how people create and earn. Think and create your business by buying and selling bitcoin.

I dont think that will have any major impact on that. Understand that if you think such small group of underdeveloped or developing countries are going to have such poor effect on the adoption of bitcoin then how about the huge number of people that are from the powerful nations within the America, Europe and Asia? Why you not counting those now in your calculation. I am sure that the stages has come here where there are more developed countries and people around the globe which are ready to accept the crypto currency rather than people who are not ready for this changes. I guess three is no worrying thing about the bitcoin acceptance as long as our government doesnt come to single page.

All you need to access bitcoin is virtually just internet access plus any form of device capable of downloading a compatible bitcoin wallet and has the capability to connect to a network. And with the surge of internet adoption worldwide, even the poorest countries will have wide coverage for these technologies sooner or later.

Besides, countries in economic turmoil such as Zimbabwe, Venezuela and Turkey will be the first to appreciate truly why bitcoin is so beneficial.

When your country's fiat is collapsing citizens in that country will seek alternatives to move their wealth out of that particular depreciating currency, and bitcoin is one of the most logical choices to make in that regard. Thus, I think that sometimes the contrary of what you say is true. Bitcoin adoption may be most prominent where the management of fiat is the poorest, out of necessity.

I ran some test with google analytics a while back (maybe 2-3 months) and found that there was a huge amount of searches in nigeria and some other sub-Saharan countries, do you know if there is a lot of adoption happening in those countries?

Also I think that Nigerians were paying a high premium for a bitcoin a while back just like koreans were during the huge run up in late 2017.

You are very correct. This issue with some part of Latin America and Africa can limit the rate of adoption of cryptocurrency. Imagine a situation whereby these continents are moving at same pace with Europe and Asia. It will take a long time for cryptocurrency to reach everywhere in Africa.

I live in Africa and trust me when I tell you that people are actually waking up. In fact, if anything, bitcoin is probably much popular within the youth in these underdeveloped countries then in Europe because the need of an alternative of fiat etc. is there so people will eventually find bitcoin.

What country do you live in?

If I were you I would see this as an incredible entrepreneurial opportunity, your English is good and you are posting on bitcointalk. That shows promise.

I live in the USA and I know I would have a tough time pitching bitcoin or other crypto's to people vs the USD, especially to baby boomers who have all their savings/investments in traditional assets.

For you though it probably is not the case, in my opinion you could have a legit business just preaching/teaching bitcoin basics.


They may not be interested in the tech, just show them that if they put their native currency into bitcoin or other cryptos how well it would have done in the past 5 years vs. their native currency!

The only barrier I think would be how they would spent it? Maybe there are some fiat gateways in your country that would allow them to?

Venezuela is a great example right now btw.

Undoubtedly, the acceptance of bitcoin is growing in a remarkable way, but most of the people involved in these field are people from Europe, Asia and America. For me who live in an underdeveloped country of Latin America I find it disappointing to see the little interest that people have in these technological issues, and the great ignorance that still prevails with respect to cryptocurrencies.

In addition, in these countries people have very few aspirations and do not seem interested in matters related to technology. And from what I see, in places like Africa, something similar seems to happen.

This type of educational, economic and technological limitations will only mean a delay for bitcoin to become a cryptocurrency of truly global scope and use.