Bitcoin Forum

Hello could someone educate me on the importance of bitocin in third world countries?I live in one whereby its starting to  pick and want to be a part of it and dont know how to go about it?

In most 3rd world countries, governments and banks control your future. They determine your wealth, by manipulating the local currency and the economy to suit their political agendas. The population in most of these countries are poor, because bad decisions are made by these two entities. The politicians decide how much money will come into the country and how much will leave and they decide how strong the currency must be.

In Bitcoin no central entity makes these decisions. There are no manipulation of the strength of the currency, other than supply and demand. Nobody is excluded based on your wealth, to use this technology. If you have $1 and less, you can still create your own Bitcoin address < bank account >

Banks/Remittance companies leech money from poor customers with expensive fees. Bitcoin transactions is almost free, or should I rather say. much less than what these services charge their customers.

Micro transactions is also possible, via off-chain solutions < These transactions are FREE > Poor people use micro transactions more, but it is not feasible with banks, because of the high fees being charged.  ^hmmmmm^

Firstly I would recommend you to search by yourselve it's not that difficult. Secondly see Bitcoin is a crytocurrency and which is owned by no government. It is independent and is free to rise and fall. They are mined and are controlled on demand and supply. The best part is they are decentralised and so no one can manipulate them. It's a good hedge against all the existing currencies and any factor that may effect the local currency. I would recommend you to but in dips when ever it slows down. At least"10% of your retirement corpus you can Put.

Third world countries have high inflation rate or constant devaluation of their currency for example Vietnam is constantly losing value against dollar and  many other third world countries will also follow same trend in future.

So one of the benefit of saving wealth in bitcoin could be safety against this types of devaluation. Also another benefit could be during demonetization just like few countries are having right now, if you have bitcoin than nobody gonna know how much money you have and also there will be no any investigation regarding your income.

Bitcoin is amazing for third world countries. Why ? Easy ! No need to have an expensive bank account. Anyone with a phone and data can have access to it with no documents or other requirements. Buying a cheap as hone and data is cheaper then opening w bank account. Also in a third world country you might not want to habe all your money in cash so you can use a bank or bitcoin I would rather use bitcoin for all the reasons above. Also banks dont let you make micro transactions because fees are so high. Bitcoin you can send less then a single dollar with the greatest of ease.

The Guides section of Coindesk (http://www.coindesk.com/) is helpful if you are just looking for a lot of general starter information.

Thats really simple. Go search for yourself on google. Google have everything you wanna know. From bitcoin wallet and stuffs. Im from the Phippines(which is a third world country). And i can say bitcoin here is not popular. I mean, not really popular. I think only 4000-6000 owns bitcoin here. I dont even see it on the local news. Its our duty to make bitcoin to be known. Thats why i started to tell some of my friends about bitcoin.

It is a good store of value. In countries where inflation rate is very high, you can use bitcoin  to overcome it. It also gives people from third world country a chance to have a good earning since a few bits can have a higher fiat value.

You cannot just trust our words on the importance of bitcoinon your country. You need to learn what bitcoin is and know yourself how it can help or make your life better.

But I must say BTC will help you and third world countries with more strenght if you have an initial money to invest. Start from dust is very hard and not suggested as you will take a long time to make fortune with BTCs and another Crypto Currencies.

If you have the money, you buy the BTCs and hold it for a good time, when the price is high and you know it won't be stable, sell the coins and buy again when the price falls. That is how BTC can help you as extra income.

There are micro earnings too, very useful for third world countries, if you introduce your neighboors to it, you can make a good profit from them as referrals, if you are a good boy you can help them too sharing comissions, check Micro Earnings section.  :)

Bitcoin is first successful experiment which becomes invention. Bitcoin is anonymous, digital, decentralized, secure virtual currency. But its now considered as commodity. Due many factor price of bitcoin is increasing rapidly. And in coming years it will skyrocket for sure.

While becoming bitcoin popular it have extend his parameters with easy accessibility and becoming master currency in crypto market. Right now Bitcoin is used to evaluate other altcoins.

Bitcoin the digital currency as a potential solutions for Developing Countries.By using this currency any developing Countries Could Be developed easily as Bitcoin's potential impact on developing economies directly and why not the price of bitcoin increasing continuously.No doubt in coming years it will more popular as while every people were using it even many people in these third world countries.