Topic: The Role of Bitcoin in Developing counties to accelerate Growth process (Read 507 times)
November 23, 2020, 11:20:42 AM
at this time bitcoin is very helpful for growth in a country because the price of bitcoin has gone up very high so that bitcoin holders at this time get very much profit. a country that has a very large amount of bitcoin, so that country already has a lot of funds at this time so that it can help the economy of the people to be better.
November 23, 2020, 09:20:38 AM
The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies.
If you can call the growth in terms of transparency then i would say it will help a country develop by eradicating corruption and have a transparent process. They can be very helpful to provide access to financial services to community at large. As they are considered a medium to support growth Process by providing better traceability of funds and help people to escape poverty.
Bitcoin can help people escape poverty if they are willing to take advantage of the free market opportunity bitcoin and the cryptocurrency market is providing and if you are able to do that then sky is the limit but to reach those poverty stricken places it will take a long time and the local government has to intervene in giving them basic internet facilities and so on for that to happen.couldn't agree more to that fact, btc can really help many developing countries to combat and alleviate poverty to a reduce level, nowadays, thanks to the availability of internet in almost everywhere anyone can easily access the internet using their mobile devices and not necessarily need any special tools, although they need to be educated about the whole process (especially in remote areas where the level of education is very limited), this will will really help a lots of youth to earn alternative income for their immediate needs.
November 23, 2020, 04:37:07 AM
As they are considered a medium to support growth Process by providing better traceability of funds and help people to escape poverty.
Traceability of funds? I don't think it was as easy to trace as what current banking system we had. Though bitcoin is not totally anonymous, it was pseudonymous after all. It helps you to escape poverty? Nah, not all the time. I mean, if that's the case then why we hear stories of broke investors today? The future is in your hands, bitcoin can guarantee you wealth and death at the same time. Everything depends on how you manage your assets so be courageous but be careful all the time
. November 23, 2020, 03:31:54 AM
The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies. They can be very helpful to provide access to financial services to community at large. As they are considered a medium to support growth Process by providing better traceability of funds and help people to escape poverty.
Talking about escaping poverty is too early for me,i think this is one of the result in case Bitcoin will be fully accepted and be acknowledge of government as what the function Satoshi Nakamoto really plans.Maybe little by little we are gaining the popularity we need before the world listen to What our market is promising and this is not against Fiat function but instead a extended hands to serve the world.
November 23, 2020, 02:59:39 AM
it can be depending on the user that owns it but it wasnt built and intended to be an instrument for that and why it was only beneficial to those that are already growing , why not to those that arent yet but they shouldn be confident and say that they can get money on it anytime because btc price can go down too anytime
if thier investment is on positive they need to secure it in a form of converting it to another stable currency or they can withdrew and bank the money .
helping the poor are still going to count if the country is developed because government can provide jobs .
if thier investment is on positive they need to secure it in a form of converting it to another stable currency or they can withdrew and bank the money .
helping the poor are still going to count if the country is developed because government can provide jobs .
November 22, 2020, 09:27:45 PM
The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies. They can be very helpful to provide access to financial services to community at large. As they are considered a medium to support growth Process by providing better traceability of funds and help people to escape poverty.
Escape poverty? Only to those people who are fully aware into its existence and that literate on engaging into tech and to know that not all are that knowledgeable when it comes on handling out a computer or even a smartphone this is why this kind of problem in global scale level cant really be just resolved out that easily.
I cant deny with Bitcoins capability when it comes to this manner which do really open up an opportunity to those who do tend to learn and invest on it
but dont expect for that kind of changes or solution into that extent.
Changes are there but wont really be that in the level of solving out global economic problems.
November 22, 2020, 12:02:35 PM
The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies. They can be very helpful to provide access to financial services to community at large. As they are considered a medium to support growth Process by providing better traceability of funds and help people to escape poverty.
Escape poverty? Only to those people who are fully aware into its existence and that literate on engaging into tech and to know that not all are that knowledgeable when it comes on handling out a computer or even a smartphone this is why this kind of problem in global scale level cant really be just resolved out that easily.
I cant deny with Bitcoins capability when it comes to this manner which do really open up an opportunity to those who do tend to learn and invest on it
but dont expect for that kind of changes or solution into that extent.
Changes are there but wont really be that in the level of solving out global economic problems.
November 17, 2020, 05:39:15 PM
The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies. They can be very helpful to provide access to financial services to community at large. As they are considered a medium to support growth Process by providing better traceability of funds and help people to escape poverty.
Escape poverty? Only to those people who are fully aware into its existence and that literate on engaging into tech and to know that not all are that knowledgeable when it comes on handling out a computer or even a smartphone this is why this kind of problem in global scale level cant really be just resolved out that easily.
I cant deny with Bitcoins capability when it comes to this manner which do really open up an opportunity to those who do tend to learn and invest on it
but dont expect for that kind of changes or solution into that extent.
Changes are there but wont really be that in the level of solving out global economic problems.
November 17, 2020, 05:30:12 PM
It has little to no traction to countries with low technological advancement, even worse for countries where there's no internet. It tracability is fine up to some degree. It cannot be regulated therefore no profitability can be gained from it in the government's perspective. Bitcoin may indeed be profitable as a standalone but it cannot lift an entire country's economy unlike resources and commodities unfortunately.
Which is nothing new, if you take the time to look at how a particular technology spreads you will see it does not spread first in the places where it is needed more or anything like that, the pattern is that the countries that are more advanced technologically speaking adopt a new technology first and only after a long time has passed those countries that are behind begin to adopt the new technology, and this is exactly the same patterns we are seeing with bitcoin, now specific people from underdeveloped countries could use bitcoin or any technology to improve their lives but it is naive to think that bitcoin will be able to do that for every single person in those countries. November 17, 2020, 11:15:59 AM
Based on the concept of modern developments of a country I consider a bitcoin a good tool to increase the strength of an economy as it also involves buying, selling and investment. It’s strengthens the economy because bitcoin can be converted to fiat and these gives the owner purchasing power. But I don’t see bitcoin as a tool for poverty eradication.
Bitcoin cannot eradicate poverty until the individual buys bitcoin and know the worth. Bitcoin acquired or mined can be used for different beneficiary purposes. Until one buys or invest in bitcoin, bitcoin is a currency and just like every other currency in the world.
Bitcoin cannot eradicate poverty until the individual buys bitcoin and know the worth. Bitcoin acquired or mined can be used for different beneficiary purposes. Until one buys or invest in bitcoin, bitcoin is a currency and just like every other currency in the world.
November 17, 2020, 10:03:15 AM
but it is a pity that some developing countries still do not fully accept bitcoin. This relates to the issue of regulation given by developing country governments. For example, in Indonesia, Bitcoin is legal and allowed only as a commodity trading and is not allowed to be a legal means of payment for several reasons about its high volatile risk.
Considering the high risk and volatility, hence some governments don't allow bitcoin being used as means of payment but only as a commodity, yet people still use it to transact under the radar, it's not a big deal anyway due to pseudonymous. It's a good thing that the government didn't entirely ban bitcoin and exchanges like what happened in China, as long as people can trade bitcoin, the community will continue to grow towards more adoption.
November 14, 2020, 06:29:36 PM
The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies.
If you can call the growth in terms of transparency then i would say it will help a country develop by eradicating corruption and have a transparent process. They can be very helpful to provide access to financial services to community at large. As they are considered a medium to support growth Process by providing better traceability of funds and help people to escape poverty.
Bitcoin can help people escape poverty if they are willing to take advantage of the free market opportunity bitcoin and the cryptocurrency market is providing and if you are able to do that then sky is the limit but to reach those poverty stricken places it will take a long time and the local government has to intervene in giving them basic internet facilities and so on for that to happen.Absolutely right. Government has to play its role to provide by providing internet facility not in urban areas but also in villages and primary and up to 10th Grade education should be made free so that poverty stricken communities can have access to this great opportunity which is knocking our doors. If all thaw happens, then in many Asian and African countries poverty can be escaped.
November 14, 2020, 06:07:53 PM
I'm not really sure what you are saying, bitcoin is not a financial service and bitcoin is currently already high in price, how can it help the poor? maybe what you mean is to use blockchain, I think blockchain needs to be used in developing countries which currently have a lot of corruption practices
Yes, there are two kinds of discussions that seem to mean about blockchain and bitcoin but I guess the meaning of helping the poor might be about airdrop programs or programs like that that can make money without having to spend a lot of money. Apart from that, blockchain itself has indeed been widely adopted for faster data collection and it is not only related to finance, so blockchain does speed up the growth process but about bitcoin, I don't think so. November 14, 2020, 05:56:12 PM
I'm not really sure what you are saying, bitcoin is not a financial service and bitcoin is currently already high in price, how can it help the poor? maybe what you mean is to use blockchain, I think blockchain needs to be used in developing countries which currently have a lot of corruption practices
November 14, 2020, 05:11:43 PM
The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies. They can be very helpful to provide access to financial services to community at large. As they are considered a medium to support growth Process by providing better traceability of funds and help people to escape poverty.
Bitcoin have an bigrole on developing country like my country phillipines our citizen are so illerate about the bitcoin they didn't know that it can help in financial problem. Every individuals can earn money in bitcoin because it is tax free and it can help us to grow our money.Very well said. I totally agree with you that literacy is primary requisite to understand functionality of Block chain and its role in day to day transactions. Philippines are well literate. I have worked with them for long time in Middle East. I am quite sure BTC will help to improve their economy by accelerating country's growth rate.
November 14, 2020, 03:15:20 PM
I don't think that Bitcoin or any other crypto can help economy of any country if it's not officially introduced into economy and financial system and regulated. As far as I know no county has done that.
However, Bitcoin can help fight poverty on an individual level and every person, no matter if lives in developed or underdeveloped county, can with help of Bitcoin improve personal finances or even find some crypto related job.
However, Bitcoin can help fight poverty on an individual level and every person, no matter if lives in developed or underdeveloped county, can with help of Bitcoin improve personal finances or even find some crypto related job.
November 14, 2020, 02:58:10 PM
Developing countries have really big troubles with bribery and crime, so in this context cryptocurrency technologies have advantages: at first transparency - any transaction is trackable, so any corruption schemes are at a serious risk of being tracked down by the officials. But, on the other hand, usual transactions are at a risk of being tracked by criminal monopolists and corrupt servicemen. So, developing countries with strong anticorruption authorities can try integrating cryptocurrencies into their financial system, while states with strong business-crime-authority coalitions will definitely be ruined totally with crypto, which will in this context just help criminal masterminds and bankers to control the whole countries' financial structure.
November 13, 2020, 02:55:50 PM
The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies.
If you can call the growth in terms of transparency then i would say it will help a country develop by eradicating corruption and have a transparent process. They can be very helpful to provide access to financial services to community at large. As they are considered a medium to support growth Process by providing better traceability of funds and help people to escape poverty.
Bitcoin can help people escape poverty if they are willing to take advantage of the free market opportunity bitcoin and the cryptocurrency market is providing and if you are able to do that then sky is the limit but to reach those poverty stricken places it will take a long time and the local government has to intervene in giving them basic internet facilities and so on for that to happen. 
November 13, 2020, 12:06:48 PM
Truely, it helps a lot. Bitcoin and Other crypto currencies are helping people to earn and find the way of living life. Every kind people whose are interested and spend time to crypto can get benifit and of cours it is helpful for the economy. Because some howit is using in the country and government is getting tax.
November 13, 2020, 11:46:14 AM
The role of cryptocurrency in economic growth in developing countries can be very important if it can be implemented in the right way. As Bitcoin is considered an acceptable medium for many transactions, it is possible for any country or organization to buy and sell products or services, improve business, and develop through the use of sophisticated technology. On the other hand, if it becomes a widely accepted medium in the world, it will facilitate the economic development of developing countries. In addition, countries with various economic sanctions can easily use Bitcoin to trade with the outside world through the use of Bitcoin.
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