Bitcoin Forum

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

Cryptocurrencies have a substantial impact on both economic and social development. There have been up and coming projects which aim to provide blockchain solutions to underdeveloped countries in Africa, given that these projects actually make their mark, they are sure to bring an incredible positive change and would help the common people of the nations with all their needs.
Limited technology and accessibility could be the first hurdle here, but with big eyers eyeing down on these projects, it could help out to be a reaching hand to provide basic facilities for the folks.

I doubt that politicians will want to implement blockchain technology. Many of them are in power only because of election fraud. As to the cryptocurrencies this is a good way for poor countries to have salaries at the level of the which is produced in the developed countries. But it requires certain skills that do not have people in poor countries. Now education has a real price.

I see two major plausible social and economic impacts:

1) facilitation of p2p business, as it makes it easier for private individuals and small business owners to accept online payments.

2) further enabling of globalization with all its up- and downsides.

In the end I see a net positive for both rich and poor countries, however I'm still not sure who stands to gain the most out of it and at what cost.

Yeah agree on your observation there are of people of my country who are working abroad start to feel the good impact of crypto currency because economical and faster way of money remittances,and small business entrepreneur can accept online payment in where in the world by using crypto currency that means and crypto currency making business a fair place to any body.

This coin is still premature to make a nation impact the transformation or change of the economy as we know some of them prohibitively or strictly implemented some measures for the use of it to the point that some countries bans the exchanges and coinbase.

Some of the impact is pretty negative and some are positively progressive that's why some countries prohibits or regulated some ICO's and some crypto because some petty criminals are using this for their illegal transactions and Ponzi schemes all because of its feature anonymity.

But because of its transparency it can impact the Government by setting a wallet that is designated for them or for their Department letting them sign the wallet to prove the ownership and the funds thus making it more public eliminating corruption and stealing people's tax.

Another thing is the business, company and banks adaptation towards the blockchain technology making the transaction more efficient, decentralized, public and faster but as I've said it is still premature that needs further developments and improvements.

The impact of cryptocurrency is huge. The vast majority of the world still uses fiat money, or paper money, whatever you want to call it. And it's still the world's reserve currency even though gold is better at storing value for long periods of time. But we're forced to use paper money because it's the only option and the value of the USD has been extremely devalued since the 1920s so it's time to invest my value into BTC.

If bitcoin becomes as big as we think it can get then it is possible that bitcoin begins to replace the local currencies of poor countries this is going to be revolutionary since people will stop accepting the local currency printed by their governments, this is happening in a lesser scale in countries like Zimbabwe and Venezuela where people prefer to have their money in bitcoin than in the local currency.

finance will change with currencies not based on debit of states and banks but based on real value, i see bitcoin as a value carrier (the gold of currencies) and others as multiple application of blockchain, including payment metods.

Cryptocurrency can be that catalyst for people to strongly demand the availability of new technology in the area of communication especially in third-world countries. As the underlying technology, the blockchain can have far-reaching implications and changes which our society can benefit from. Though Bitcoin is not really meant to help the poor or to save those in need, still this is a good opportunity for people who are willing to invest some of their resources and time for the coin. Just like what is happening right now in Venezuela, Bitcoin can play a big role in helping cope with economic distress and challenges. And this is just the tip of the iceberg, I guess.

If we look at the economic and social impact of cryptocurrencies, first you should look at how we are we going to used it. Bitcoin was designed as p2p without any intermediary, and as a micro payment scheme. However, it evolves now as store of value and investment. So only the 1st world countries has really benefit now because they have access to money and internet. However, I have no doubts that even a 3rd world country can benefit as well, just like what it has been doing in poor countries in Asia. Bitcoin is now their main source of income.

To answer your second question, it will change basically nothing for poor countries with a limited access to the Internet and to electricity. Without any access to thse two things, there are no bitcoins there, and thus it will indeed change nothing if it has no presence.

The impacts of cryptos to third world countries I would simply view it in two different angles and the first is to say the least on how internet also has negative impacts on some industrialised countries because obviously, not all the industrialised countries have access to internet or how to access it too.

Then the second is simply that which I view as advantage to the users of cryptos in third world countries. This is in the area of conversion. The value of bitcoin for instance is higher than dollars nor pounds, so if such fiat is then converted to the local currency of the third world countries - it should be a lot of money.

In other words, I really see whatever impacts cryptos has to the third world countries as an advantage.

I think economically it can bring prosperity to an otherwise stuck middle class however in regards to the poorer countries I dont know if this will benefit them in time. I read on a report that by 2020 90% of people will have

smart phones meaning everybody is not far off from having internet which is all that is needed for bitcoin. However just because you have a smartphone doesnt mean you will have access to a bunch of money and I think

for these people they may struggle yet. And even if they have money are they supposed to gamble half on bitcoin? Seems too risky to gamble the livelihood like that and I certainly wouldnt do it unless BTC was super stable.

Poor are going to be more poors
And rich richer
It s not because you change money that you change the world
Change you heart first
Cryptocurrency are changing young people in traders, if you believe that
It s a good thing.....
Crypto are others tools but if you don t
Change you heart it would be one more tool to destroy the world
And more it s a better tool for the richs who don t care about poors to become richer
As a rich man you can now product your own money...is it a good think,
we believe that because we expect a piece of cake that s all

Sad to say but this is the limitation and the total blockage why bitcoin cant really be adopt on remote countries which internet cant really be reach and it is part of reality where there are really poor countries which cant really sustain for people to engage with bitcoin or any crypto no matter how hard they do and also they dont have any knowledge on whats about.

It affects a lot of things, and it is affected by a lot of things too. When someone talks about bitcoin, they are just spreading the word of it, and all those people who heard about them are probably going to be interested in having almost a bitcoin.. But soon they will realize that the price of it is very expensive and they will be much more interested to buy some.
But i dont agree with all those replies that this thread had, bitcoin has been influenced by a lot by those banks and shady governments that are always trying to defeat bitcoin. Like China and all those regulations that they did over ICO's and bitcoin.

In terms of banking, cryptocurrencies are very useful. there is a very good project called humaniq, it aims to bank the unbanked.

I do not see the big social impact off cryptocurrency yet, but I believe that in the future we will see a lot of social impact from the blockchain technology, when it comes to the things like elections where we can use the blockchain technology to prevent any fraud.
Cryptocurrency in economical impact we begin to see in mainstream Media which means excellent having an impact on the big markets-
I am in the middle of writing an article on social impact we're going to see if blockchain gets mainstream adoption, and I have written a couple of articles on the subject of cryptocurrency impact on the world. Some of my articles can be found at the cryptoms.net other of my articles I have written under many different names and on many different sides. I may be new to this forum but they're not near to the crypto currency unit I have been trading and investing in cryptocurrency for a couple of years now.

Decentralization in our day to say life is a very huge aspect and we all need to understand how we can be truly decentralized with our money. Cryptocurrencies are the next generation currencies and early implementation is the best way to welcome it.

I once discussed similar this topics. https://bitcointalk.org/index.php?topic=2336191.msg23774054#msg23774054
From what I conclude indeed poor countries today have not been able to adapt bitcoins to become a thriving business in there country,
poor countries are still focused on infrastructure development and job creation.
As for joining the bitcoins business, we need enough money and have good internet access.

Funny if you are unbanked it's because you haven t enought money...
So in this case you could have an empty account out of bank, and without computer like the most part of unbanked people.
Ask to unbanked people what they think about blockchain....

You all know that cryptos are not descentralized at all.
I registered on bittrex yesterday, and i was so dumb because i deposited more than $1000 in there, and i didnt't knew it before, but you need to put a lot of verifications and a lot of things in there,  and i was not able to withdraw my funds because i did not put all my IDs and plus a Selfie.
It was unfair because exchanges have been created for being fully Descentralized, it is not a good thing.
All those bastards are trying to centralize bitcoin to make it work like the real currencies..

It would be more difficult to know cryptocoins value if it were no marketplace
Centralisation is a way to increase exchanges, like in real life

Bitcoin giving a huge impact both social and economics life of individual, and yet it would be considere as a life changinh technology. It will improve and develop everyone in doing social activities because most of us are having fun with internet. We can do a lot of thing by using this technology and lessen the time spend in doing payment transactions.

And talking about economics, of course we are so lucky to have this. Bitcoin gives us more than anything can do in terms of financial support. Though we have a day job but its far of what we've got from having with bitcoin. And more people depending bitcoin as there hope of having a brighter future.

Neither poor, nor rich countries are focused on integrating cryptocurrency into the fabric of their nations yet. It is too early. Most people have no clue what Bitcoin even is, let alone all of the other stuff that comes along with it.

One economic impact it can give is by easing online transactions. It somehow also can help improve the income of the citizens, making government have more source of tax. In terms of social, more people will learn to transact online.
It won't really affect them greatly. The only major effect is that they will get left behind if most part of the world legalized bitcoin and they cannot enjoy the full benefits of bitcoin ad well as well as crypto.

I think some economic giants like japan would make use of crypto currencies and would progress towards the next stage while so me other giants like china,russia would act against bitcoin and they would neither be able to ban bitcoins nor they would adopt bitcoin and they would not progress using crypto currencies.

But some smaller countries like liberland and other may adopt bitcoin.But even though if most of the under developed countries try to adopt bitcoin and crypto currencies,they would fail to do so due to lack of internet facilities and infrastructure to adopt digital payments.

Our modern generation are using alot of technologies and it has a big impact in the community of cryptocurrency. the crypto is the future of all. believe me or not the world would go crazy about this.

With the lack of government support itself in this case it will be very difficult to realize.
To adopt crypto technology to become one of the alternative as a payment method in a country, surely it will required a well planned infrastructure, in addition to minimize the damage as well and used for a long time.

in my opinion the bitcoin affect the third world countries in a good sense it has improves the poor countries and provide better facilities and good business and job opportunities to the poor people in the world. those people who have skills they are good in computers they can earn good amount of money through this form if they are good designer they can design logos fof the managers and they can get much more

I agree, for me personaly bitcoin and cryptocurrency can have a massive impact on the world, and i am not just talking about how it could give an oputrounity for those who live in certain areas where the econnamy is bad, and not just giving a pourpouse for those who don't have a hob, it is beyond that, it is an idea that brings poeple together and idea that puts away all our diffrences and makes us work together under one pourpouse, and abitcoin is one of the great exemples of what millllions of poeple around the world could achive without the limites of goverments or banks, imagne what the world would be if people all around the world get paid with bitcoin, there will be no poverty, balance in power around the world.

As I observe in my environment, the social and economic impacts is that it makes an opportunity to students and other unemployed to make money out of it thus making overall unemployment rate lower. But it is limited to those who have gained knowledge in this technology (Bitcoin).

If the are is limited to access the internet then it wont make a difference since bitcoin and blockchain technology is based on the internet.

I think that the unemployment rate of bitcoin has no effect. Unemployment has many different aspects and if people do not want to work then there is no bitcoin will not force him to do it. The most important advantage of bitcoin is that it enables people to work remotely. If the economy does not allow people to have a decent wage that bitcoin can help to solve this problem. On the economy, bitcoin is now not affected in any way.

What I am seeing right now is that Bitcoin is the one who created the most impact among all cryptocurrencies, when you look at it Bitcoin has give a way for people to earn additional income from trading to mining it it gave them opportunity to earn money online it also had paved the way for Altcoins that people are also understanding hoping it will grow like Bitcoin. Bitcoin had quiet a big run this year that even people who don't know Bitcoin yet have became self-aware of what it is.

I don't think its only about cryptocurrency it's all about the blockchain technology which is making currency(asserts) more secure and transparent, that is the actual aim of blockchain, and hey why not blockchain would really help governments and other assert related sectors to work very transparent and clean, from this we could avoid corruption as well .

Sure as day, Japan will be a leader in crypto as you say. They tend to be on the cusp of new technologies and always the first one to accept them, even well before the United States, and Bitcoin and cryptocurrencies are no exception, the US will be behind Japan which is a more technologically progressive nation for sure. Now, will it always be this way? I don't think so. Once USA discovers that crypto is a great tech, they will pour their resources into it and make it huge and will take it over much more than Japan, China, Russia, etc.

Cryptocurrencies have brought a completely new form of financial system or a currency system. We have always seen a centralized mechanism when it comes to currencies. Right now nobody can really predict how much potential this system has and will it replace the ongoing centralised system. Will governments and banks let it thrive? Is it good for economy of a country? Cryptocurrencies are in testing phase. Everyone has his own take on it. Some are supporting some aren't. In public view, cryptocurrencies are revolutionary form of currency but in government eyes it might be bad for economy. It will take some years to completely foresee the impact of cryptocurrencies on global economic model.

Cryptocurrencies have the potential to disrupt society, in a very big way. If this entire scene can reach its peak, things are gonna go insanely wild, you'll see banks crashings, government power changing hands, money flowing out of traditional investments into cryptos.. I think we are still a ways off from this happening, but it's slowly starting.

Bitcoin a chance for people to invest but as we know bitcoin still consider as risky investation so people must think twice before decide to invest.
When I try my friend to use bitcoin, they said that everything become easier compare use fiat and cheaper so bitcoin really change their transaction habit !

The discovered of blockchain technology has reset how the world thing about money and the world economic. Currently, all over the world, many financial experts are learning and developing on way to adopted cryptocurrencies into their financial system and great thinkers and and financial leaders has been saying bitcoin and blockchain technology is the future of money! P2p making business and financial transactions easy for common man and businesses. Poor country are not affected as most communities all over the world have access to internet.

Well looking at the social perspective of the bitcoin or the crypto currencies as whole it is bringing them together and uniting a lot of people around the globe. I mean just look at it, bitcoin has no boundaries and thats why it can be traded anywhere in the world and no matter what which country are you in but you can just send it to everyone out there. Tis keeps us together by means of trades, business and much more.

Speaking about the economic impact well I'm sure it will develop our nations in positive way because the wealth that is being generated for us and for the government through the taxes is enormous and it will keep going on upwards always. This is cool and significantly true fact about the bitcoin that its virtual but the impact on economy is real.

Bitcoin has no current impact.

I mean, of course there are many people buyng, trading and playing with bitcoin but come on. For the moment it has no significant impact.
Proof is that in most countries, bitcoin and its community is simply ignored by the government.

I do not say that bitcoin has no future and will never change society, I affirm that changes are slow. Please, stop believing that bitcoin is a huge change, completely disrupting society. For the moment at least!  :D

Crypto world has becamed an amazing way to send money to family without pay ridicoulous exchange fees and service fees, replacing the third person involved into the transaction can really make a huge difference. I dont know about the others people involved into crypto, but it had changed my life, nowadays im able to get an extra source of income besides my job, im planing to change my life, buy a new car or invest into a house soo i can moove with my family and give some upgrade into it. Bitcoin and crypto has allowed me to get such, i wonder where i would be nowadays without crypto, and i wonder if this is a dream becoming true or just a door wich i had opened into the right moment.

The impact is very influential for social and countries. There have been many cryptocurrencies with different aims to bring people and the country get benefit. I think with this cryptocurrency at least can help people to be able to change his lifestyle.

are you sure such a revolutionary technology hasn't given a huge impact yet? and many governments have kept an eye on bitcoin and starting to regulate bitcoin.And you said it's disrupting the society instead of improving it. i doubt you really understand the technology behind it. many people helped by bitcoin from the ease of use, the anonymity and much more from it.

I mean if there is a impact its only minimal and as far as the social and economic, only citizens is benefiting and its only quite a small percentage really. At least citizens of a country has gain and earn bitcoin and making money. That's why I think that government is really targeting bitcoin because they really want to put tax around it.


Only the people are really benefiting and not the government. Maybe its not that significant as I have mentioned. Because people has been given financial freedom is only a few that why even if they purchase all their bitcoin in the local economy its still not enough to make a significant dent on the whole country itself.

Off the top of my head I can think of two impacts that I personally really like.

First is the reduced reliance on financial institutions to safekeep and invest our finances. If you do not trust the way banks and financial institutes make risky investments for a quick buck, holding assets such as bitcoin or other alts safely in your hardware wallet serves as a lovely method to protect your hard earned money in case of another financial crisis/collapse of multiple banks.

Second is fund raising. ICOs and token sales allow small time investors like myself and many others on this forum to invest in projects we trust and believe in. Likewise, companies looking to raise funds no longer have to solely rely on family, friends and venture funds.

The impact of cryptocurrency would greatly impact the middle and upper class. This is due the accessibility to the internet and their capability of acquiring a gadget. Aside from cryptocurrency gives convenience to money remittances, cryptocurrencies likewise opportunity for investments. Which will uplift the economic status.

Crypto currencies are just created for the good of the people. Knowing that we can benefits from here especially for financial stability and a great source of income. It will provide us more and we totally enjoyed it. It's amazingly performance delight us and it will make us more productive than before.

Economic impact is that Bitcoin aims to remove the differences on foreign exchanges, it aims to have one common currency for the whole world and at least equalize every nation's wealth. Unlike current fiat currencies that rely on one country's gold reserve bitcoin don't have anything like that it is purely depending on the demand of it's users.

Other alt coins are created for some social purposes really depending on the coin.

There is a difference between the blockchain and bitcoin, banks and governments are fine with the blockchain and are in fact making their own research on the subject but they hate bitcoin, bitcoin is a threat to them for the simple fact that is something they do not control, bitcoin is going to give true freedom to people and that is what they fear more than anything.

For the third world, I don’t really think it will have any bad impact on them, I believe there are some internet wizards who live and knows what’s trending. There are people in third world that made a lot of money through Bitcoin, so I believe it is having a good impact there. If it doesn’t, u believe their government will ban it to prevent further loss. And for the whole world, hmmm, there are some it disfavored and they had to stop it in their country, and there are also those that it favored.

As far as being a currency is involved, I can say that crypto currency has a huge impact when it comes to financial, it can help us to have more income, depending on how we do it, whether trading, working or investing on cryptocurrency. There is also an impact to technology, since block chain technology is innovative, we can see a lot of people using block chain technology as well. There will be pros and cons of cryptocurrencies, but it is much better to try it than ignore it and have FOMO in the future.

It got a huge impact for economics, now a lot of people are investing in crypto and getting profit out of it, of course it will increase their life and there is actually a people getting rich because of crypto, crypto got a huge impact for the people that join, for the third world country that doesnt has any internet it wont impact them anything

People of my country who are working other country, start to feel the good impact of crypto currency because economical and faster way of money remittances, We have always seen a centralized mechanism when it comes to currencies. Cryptocurrencies have the potential to disrupt society. It is a big imapact.

Somehow cryptocurrencies help improve economic status of a country by opening up opportunities to citizens all over the world to make money. It also somehow benefits governments since they can gain tax for every conversion of bitcoin done in services that aids in btc to fiat even if only a little. It does not have that much of a social impact though but it connects users all over the world via forums.
To sum it up, third world and poor countries won't enjoy the full benefits of bitcoin and crypto if they dont upgrade their internet and technology of citizens.

Bitcoin is the incentive to move forward. Maybe those people who can use bitcoin to escape from poverty will be able to set an example. They have money and they can pay for the Internet development and education in third countries. The inhabitants of these countries see that education is an opportunity to have an income in all circumstances.

Some people are taking advantages of crypto but I am afraid of them being informed and aware too late of the crypto. If we take africa, internet access is not usual for all countries so it's not all the population that can benefit of the crypto.
And the government, I am not sure they have something to win to legalize or enhance the use of crypto.

Actually no matter which country you do live on we do know that not all people dont have awareness on whats happening on their surroundings theres always an internet wizzard and its true there are already people who get rich on crypto. The thing listed on poll are not totally a selection but rather a questions. Crypto do affect life in any way specially to those people who do have awareness on it. It is majorly affect peoples lives than on economy of a certain country.

crypto will only affect every middle-upper class economy if the people who are not sufficiently in economic terms will never know the crypto because of internet access and computers or smartphones that are not owned by them. the impact of crypto that occurs in people who use it may be a positive advantage in getting but the crupto can also have a negative impact if there are people who use it in the wrong way one of them in use for illegal transactions.

It seems to me that now is the opportunity to receive education in any country. The Internet is also everywhere. Perhaps in some countries it is relatively expensive but if the Internet is to help earn money for life people will be able to pay it. It seems to me that the main reason is that people are afraid to invest and are looking for justification for their inaction.

There is a good impact of this cryptocurrency to the economic aspects, through this crypto currency, less fortunate people may be successful and financial stability of the people will become great as well as the economic. And in terms of social impacts, most of those who has a high access of technology and internet only can indulge in this crypto currency world. But it maybe a possibility that those who want to earn in crypto currency may be encourage and may acquire this technology in order to join and the impact of this to social is good because the population of crypto currency users will increase.

This is something that can be expected in any country and not just Africa. We cannot expect everyone to make use of crypto as there would be some limitations one way or the other for some. However, the impact will still be felt from the few using it which eventually will have a way of rubbing off on the economy of the people involved as well as that of the country in the long run. Most of these African countries understand they cannot ban bitcoin and they would rather just embrace the blockchain technology and find ways they can benefit from it.

There are many impacts that cryptocurrencies have done to social and economic situation of a certain country especially to those poor countries. Even though not all countries support the idea of bitcoin, it can help the economy of a certain country to develop as well as to help people earn their own money to sustain their daily needs.

This obviously cannot be discarded when it comes to the social aspect as some caliber of people will feel it more than the others at the end. However, there would still be some low class that would really be fortunate enough as long as they are learned and informed. The truth is, in as much as the middle and upper class have access to the information, not everyone will utilize it and some low class will even quickly grab it while looking for a means to survive and getting an answer to that. Generally though, it would have a great impact economically and socially anywhere it is being used.

It is true because all the people are now investing the bitcoin and I know the bitcoin will give us the bright future, bitcoin has made my life very easy as now I have the strong income and it is the main thing I like about the bitcoin that it has changed my life and the bitcoin is the new currency that will help all the people now. I am sure the bitcoin will give us the best thing and the price of the bitcoin will be high later more and more.

You have described is not the currency. You are talking about bitcoin as an investment asset. It is not the best destination for bitcoin. It seems to me that the use of bitcoin as a currency would be much more important. I don't see the hoarding. This money is not working on the economy and speculative capital to pump bitcoin. Someday he will leave bitcoin and provoke a grandiose dump.

I think the ripple effect is quite good and it allows the otherwise smart trapped individuals a way out into financial freedom. It does suck that not everybody can participate because of lack of internet and technology but that

problem should be solved fairly soon and within 5-10 years I think nearly everybody in the world will have a smartphone which means they will have access to all cryptos basically.

When it comes to the income aspect, this is one way cryptocurrency have helped a lot. Back then before the evolution of currency, there is just a huge limitation on how people work online and get to receive what they work for. However, with cryptocurrency, this has been able to change a lot and now; people can gladly work online, get paid in bitcoin and get to do whatever they like with it.

Right now the impact of bitcoin is in the low side and while most governments of the world do not give too much attention to bitcoin users there is no doubt they have bitcoin in their minds since they know in what bitcoin could become, maybe bitcoin is not going to destroy banks as some people in the forum want, but it is going to give to us an alternative way of payment all over the world and that is huge.

Bitcoin able to change people's habit to do transaction. Let's take a look on bitcoin right now, bitcoin has high demand is means there are getting a lot of people interest to use bitcoin because it's fit to being use in this digital era.
On third world country, they have opportunity to earn bitcoin and able to change their life if they can figure how to earn bitcoin in limited access of bitcoin.

When it comes to giving good value in return, crypto has been able to do that and that is why economically, it has been having a lot of impact on its users. Socially, of course, if one is doing well economically, then it automatically affect almost other areas which social aspect of it is not exempted. Now people tend to do things differently and interact with the help of crypto payment solution.

Assuming that bitcoin will get some more light than what it has now:

Social - People are going to talk about it more. They are going to talk about the bitcoin wallets that they are using and the problems that they ran off with that certain wallet. They are going to talk about a whole new topic but of course it's not going to happen that much.

Economic - I guess people are going to be more inclined to work on the Internet. Youtube has made it clear that people are going to do things on the Internet just to earn money. Youtubers are making good money from it and bitcoin users are also making good money from working on the Internet. People are making their own Youtube accounts because of good money, the same thing will be happening to new bitcoiners. Once they see fellow bitcoiners making good money from it, they are going to pursue it and try their best to make as much.

In third world countries, even though there's a "limited" Internet connection, there is still an Internet connection. It's not that hard to move somewhere where there's better signal reception if you're going to make good money from it anyway. Plus, it's not like one whole country doesn't have an Internet connection. There will still be people that luckily live where there's a good signal reception who will be interested in making money from the Internet and thus collect bitcoins. I guess by the time bitcoin goes mainstream, shitty ISPs were already been replaced by another one or atleast have upgraded their facilities. Otherwise they will be forced to do so.

Bitcoin has not not been a problem to third world countries rather I think the people there are ripping the b no bounties of bitcoin. The value of bitcoin is high and network accessibility would not really be a debacle. Is a new technology and they are embracing the gains I think so.

The social and economic impacts of Cryptocurrency is quite enormous and still being explored. The Cryptocurrency has increased the thirst of people to search more on the internet and also participate in online trading. The profits made from Cryptocurrency has really been helpful in restoring the economy of some developing countries; unemployed persons have now been venturing into the world of Cryptocurrency and while they are making earnings the GDP of the country is also being helped

Well people are afraid to invest because of the volatility of bitcoin without knowing the near fact that its volatility will give them a decent profit. And if mass adoption can be succeed it will make a big crate in the community especially in price. And in line with this many people will somehow upgrade their level in socio economic. People just need to be open for all new ideas that life can offer.

Cryptos in nature are economic as there isn't a single government that controls them as of this moment. It acts as form of fortune or wealth for an individual alone which country could not expropriate. Unlike other forms of asset, such as land, vehicle and the like, this is due to the fact that they are being regulated by the government.

As per social effect, cryptocurrencies exist to those people who have access to them, which they benefit from a digital economy that they created, countering the basic economic principle of one state.

Since the government are incapable to control this digital coins, third world countries won't improve from this kind of trend politically. The government has the power to mandate such kind of things, which even influential people could not do. People that has access and hold these cyptos are the ones who were blessed and truly benefit from the positive impact of digital currencies.

Cryptocurrencies have gained huge value over 8 years, and the most significant impact is how people use it in case of monetary system, not to depend on bank systems or remittance at all. There are many false alarm or fud news from bankers who trying to influence people not to invest in cryptocurrency because it's dangerous or fraud system, blah blah blah.
Crypto change the way people doing their business, consider it as an upgrade to implement blockchain technology or p2p without a third party.

Next step; as bitcoin growing bigger over time, it becomes too big to not notice it, the government have to regulate cryptocurrency or at least regulate exchanges as the main door to convert bitcoin into fiat currency and vice versa.

I guess there is little countries with limited access to the Internet can benefit from the rave of the moment. cryptocurrency. No internet, no access to cryptos. It is as simple as that. I have heard of instances where some crypto enthusiasts have migrated to countries where they can enjoy internet access. The economic impact of cryptocurrency can not be emphasized. It builds GDP and uplifts the financial status of its holders.

The impact on me of crypto currencies is the change of my life. Because because of the crypto I did buy the ones I could not afford. So I'm really very grateful especially for the crypto because of this I have gained the freedom of financial necessity. So I also teach my friends so that they also enjoy life. And their lives are comfortable. Maybe now without crypto I can still work in factories at 8-10 hours

As far the as 3rd world country is concerned i think it wont affect them much since they are still striving to get their economy up and compete with other countries, bitcoin is not their priority in life as of the moment.

Impacts of cryptocurrencies do you mean? the impacts i see so far when this cryptocurrencies has been created a lot of unemployment person and jobless people are now working on something to earn and not just to relax only and those people is continuing their life in the help of this new technologies like cryptocurrencies they can earn and they can help their families for the everyday needs. it also help a little in economy maybe we cannot say that cryptocurrencies help a lot but it helps a little in economy and lessen the poverty problems in a lot of countries. and this cryptocurrencies helping a lot of countries to connect each other and sharing each knowledge one by one. so thats a big improvement to all people in the whole world.

Unless a cryptocurrency will be not acknowledged by real retailers or different organizations that you deal with, it doesn't stand a significant part . That is the reason Bitcoin at present stays the practically well known structure of advanced currency, since its range will be broad Also will be acknowledged Eventually accepted by many organizations and retailers in the world.

The effect of digital currency is enormous. Most by far of the world still uses fiat cash, or paper cash, whatever you need to call it. It's as yet the world's save cash despite the fact that gold is better at putting away an incentive for drawn out stretches of time. In any case, we're compelled to utilize paper cash since it's the main alternative and the estimation of the USD has been to a great degree downgraded since the 1920s so it's an ideal opportunity to put my incentive into BTC.

Let me tell you that I live in a third world country and almost everyone in here owns a phone and has access to the internet.
That being said as what crypto are currently in my country it only has possitive things amoung the people who use it (Which are few)
by investing on trading or just holding, myself introduced a few friends and family members and they thank me daily about it.

The crypto currency not yet made any huge difference in the world,bitcoin is still in its early stage and it is only known to small amount of people maybe only 10% people of the wolrd heard about bitcoin.But in future it will make differences in our banking transactions,because bitcoin transaction is very east and cheap and you can transfer to anywhere in the world so maybe many banks will be shut down in future.
And crypto currency made job opportunities for many people like trading and mining from this they can earn decent income.

It's so much fun to hear. But I wonder if Bitcoin gave a job .. what did they do? Are they working on Campaigns in this forum, or doing other work?

To me, the impact of Bitcoin has changed the economic outlook in my life. I plan to keep my Bitcoin in the Bitcoin wallet for a long time. Some people say that the poor always keep their money, but the rich always double their money by investing. From that moment on I became motivated to invest. And Bitcoin is one of the opportunities for a very good and lucrative investment. I can collect Bitcoin in a pretty easy way and I'm really happy.

There have been a huge impact off cryptocurrency in both social and economic development of countries and i feel this impact can be both positive and negative.Most prominent impact is the blockchain and this system has inspired not only poor countries but even developing countries and developed also.But there are some people who are misusing this system to their own good which needs to be stop.

Indeed. Though we have internet facilities and IT infra structure in place then doesn't mean that people will start using it in the direction immediately. People are really stuck in watching idiot videos on the youtube, watching porn over the internet and watching the bad stories and some some fun games. What they don't see on the brighter side is they have great opportunities to earn money in first place. If they even give away 2 hours daily on this forum then they can be rich enough looking at the currency they have.


But no, they don't even want to try because they just don't  trust that money can be received for the online job. People who trusted it like me and my friends for example, are earning good amount of money and thus we are already walking on sunny path which we love.


So its all about us, where to trust the things or not and that can help socially and economically in first place. But before it can impact it must start everything from the base. 

If cryptocurrency will have a great good impact on a country; I will say that 'no or its not much'.
But if it will have a good impact on individual's life, i will say, 'yes it will'.

Why cryptocurrency will not impact in some countries is  that some countries alreay rejects this coin without even wanting to know its potentiality to the country. They don't see it as an asset that if invested on will better the lives of the citizens. Instead they see it as a hidden ponzi scheme that is been set up by an unknown person, reason why banned it in their countries. Even the lack of improved technology contributes to this.

But for some individuals like you and I who know about this great assest ; we grab the opportunity and want to make the best out of it because we know it's worth.

Absolutely, they're now struggling to fight against poverty and at the same time trying to develop its country competing with other 3rd world countries aswell, the internet connection there might be some kind of slow and sluggish, only really few people in there might be using cryptocurrency so it's not going to affect that much.

Its true that bitcoin has revolutionized the world economy and it has given equal opportunities of earning to people of all countries around the world.It has increased the standard of living of the people and it has provided financial freedom.But we should also notice that internet is a must to use and enjoy the benefits of bitcoin since it is a digital currency.Also,we know that most of the backward countries are poor countries and they don't have internet widely all over the country.This just idolates poor people of such countries from sing and enjoying the benefits of bitcoin.So,unless they get access to internet,i think that this gap between the people from developed countries and people of under developed countries more.

The social and economic impact of Bitcoin and other ALT coins is very large and are gaining in popularity. Bitcoin run's on the SHA-256 algorithm and is considered the Gold Standard of all decentralized crypto currencies as it is the official monetary medium of exchange of the Internet. You can transact with different people from all over the world without the use of banks and middlemen/payment processors as a result the entire financial industry will be negatively affected.

However, the disruption of these legacy financial systems will allow those who previously had no access to conventional banking a way to finally escape the bonds of poverty. Such an opportunity will allow 6 billion new minds to not only join the Internet for the first time but revolutionize and further advance technology.    

Basic access to the Internet is now being revolutionized through the advancements of Internet satellite technology, decentralized global file systems like IPFS (Interplanetary file System), and other Internet satellite based technologies that are being pushed towards production by entrepreneurs like Elon Musk, CEO of Tesla.

As a result, Blockchain Technology and all crypto currencies will bring peace and prosperity to humanity the likes of which we've never seen in the entire history of humanity.

Information Reference:

Name: InterPlanetary File System

Website:ipfs.io (http://ipfs.io)
About: InterPlanetary File System is a protocol designed to create a permanent and decentralized method of storing and sharing files. It is a content-addressable, peer-to-peer hypermedia distribution protocol. Nodes in the IPFS network form a distributed file system

More links of interest:

https://techcrunch.com/2017/01/08/the-future-is-a-decentralized-internet/ (https://techcrunch.com/2017/01/08/the-future-is-a-decentralized-internet/)
https://www.theguardian.com/technology/2016/nov/17/elon-musk-satellites-internet-spacex (https://www.theguardian.com/technology/2016/nov/17/elon-musk-satellites-internet-spacex)

The bitcion or crypto can create an impact in the whole world by passing through the nation from nation to tribes. Bitcoin can be exposed in the world because of its goodness in terms of promoting general wealth that may lead also to spread and progress of an economical state even they could not be able to have a technology buy is in the help of people to people.

Compared to the developed countries, third world countries have got low usage of cryptocurrency. This won't make a big impact upon the economy. But long back itself experts predicted that the country adopting and giving preference similar to fiat will grow big in terms of economy. So, it can be used as a tool for growth.

For third world countries bitcoin and crypto has becamed for a few their work, due to signatures good rates, a lot people are trying to be part of it, and take advantage of the bitcoin value as well, some people had changed their life due to bitcoin and crypto, outside being from a developed country or not. Bitcoin will and can help any person, the xmr miner is just an example that all can make and get some money, i dont believe someone is using bitcoin directly to sponser some social activity, bitcoin is used for investments purpose, and well social activity as i know is near zero, atleast outsides some people projects to feed poor people, bitcoin core isnt related to any organization.

Specifically speaking, bitcoin cryptocurrency is not available to everyone in terms of both social and economical stature. So, its main impacts are limited to individuals who are within the industry trading.

all developing countries have experienced gossip and criticism mixed with politics and religion into a very profitable negative business for some people, now the government in my country is in the research stage where crypto currency and especially about ICO become a rough debate, I assume that the government will eventually forbade bitcoin because of the great influence of critics who wrote about the obscurity of bitcoin as a bubble that could break at any time.

Economically, a whole lot is changing. So many people are now getting to find an alternative in the way they do transactions which has been able to make things easy and for countries that have been restricted when it comes to having to import and pay the merchants for it; things have now gotten better with cryptocurrency. Economically, it is having a lot of impact and it sure still will.

Well bitcoin for this countries can actually help them as their people who do not have jobs, good standard of living can help themselves through bitcoin and other cypto currencies. They can invest in this coins and as the price keep rising they can earns profits and which can help them to support their family and government through paying taxes. Its an ideal situation for both the country and their citizens.

Right. It is just a two way thing. The people benefit a lot from it as they can easily earn as long as they are not lazy from anywhere in the world without any limitations to getting paid, or any international barrier and then in conversion to fiat, the government gets their share of the cut. It has really helped economically in both ways which is one great impact the evolution that brought about cryptocurrency has brought.

the impact of cryptocurrency is possible in terms of finances and the surrounding community, a lot of cryptocurrency players like bitcoin who were originally just ordinary people and can not afford now can become rich. so the big impact is their finances.

Impacts of cryptocurrency is majorly seen as that people now are more attracted by the feature of blockchain and are integrating their system to use it in their company. It will be highly beneficial in the coming days and one can expect that block chain becoming important part of the system. Also, after cryptocurrency users have got a new way to invest their money.

Poor countries will remain poor, as the backlog from civilization will increase. And economically developed countries (for example, Japan) will improve their economies and financial system. Blockchain technology is like electricity, which replaced steam engines in the early 20th century.

In my thought the big impact of crypto currency into a world society especially in third word country which can help people's to earn money in just make understand what is crypto especially here bitcoin. But sad to say only tech-savvy people can only get benefits on this. Because  they are only can fully understand how the crypto run and how to make profits with it. Like doing mining, trading,investing and joined in a bounty campaign here bitcoin forum.

On the contrary, I have a distinct view on what bitcoin and cryptocurrencies would do for "poor " countries .I do believe that rather than bitcoin being a disadvantage to them, it would rather help them in various ways. For instance, it will help their economy if they invested and hold.

Further to this, it will help the individuals who buy into the innovation brought by blickchain and bitcoin. It will off course make them richer because of the value of exchange to their fiat which inturn, help the community and people who would need help from the local investors.

It has a really huge effect on the lives of the people who embraced the cryptocurrency because with the cryptocurrency they can just earn money at their home without going out and finding a job. It also changes their social life because they are now isolate since they are working in their home and there is no one that they interact socially.

Sure, it would help them, but that is if they even have the technology to access it or if their country is really willing to embrace it and create awareness for them. It is normal that anyone who can find a way they can embrace the technology and find areas they can help themselves out will definitely end up changing their status in the long run, but we have to look at the aspect that most of these countries do not even have that infrastructure in place except few of the rich ones in government who have been ridding the normal masses anyway.

Economic impact is a small redistribution of wealth as some people get lucky and hit it big, however on the wider economy it does very little. It's a useful tool but doesn't really change much in terms of economic efficiency, at least not yet. There are some promising developments that are coming though but crypto is more of a tool to guarantee freedom than one to stimulate the economy.

A crypto world maybe? Looks unreal, but Internet also very young and we all are using him

It is one thing to try to save your money in the past, and the banks even cutting out of it for some fees of some bullshit you did not ask for and it is another thing to save your funds in your own wallet with some high security and then get the value to keep increasing every now and then and in the long run keep doing pretty well for yourself.

A lot of impact I guess and it depends on those who are willing to grab the opportunity they have now before bitcoin ends up booming a lot.

I remembered few days ago when a cousin of mine finished from school and was not able to obtain a job, I pretty much told him to build some skills in the I.T area and start some freelance now that it is easy to work and get paid in bitcoins. He is doing pretty well for himself now and saving a whole lot to diversify into his business offline. The truth is for those who can take the opportunity, there is a lot of impact they can positively get rather than waiting for the government that does not even care about them.

Can't agree more, the people who lucky enough to hit it big is just a little part of the cryptocurrency community, the other's still struggling or even losing their money because mainly it's the redistribution of wealth, could create a gap between rich and poor, also the money circulating will be the same but with just the ownership of all these money will always changing.

Cryptocurrency is all about social economy and it help people more in economy life rather social.
If we talk about cryptocurrency , first thing is we have to have internet. If the no internet how it can affect the economy if it is not in touch?

Cryptocurrency has been a big help for people living in third world countries because wages are low that's why finding a second source of income is not new and earning in cryptocurrencies is a good option to do so. Doing the signature campaigns and other campaigns may not be that much for those developed countries but for those living in third world, it is a big help because it can supplement their income.

There are students who were able to study without their parents financial support because they are already earning for themselves and those that are having day jobs have another source of income which is a big help to pay the bills. Those who are unemployed were able to find have an income and others even consider it as their full time job now because income from earning bitcoin is bigger than the income they earn from day jobs. Internet may be a problem but for the people who are willing to do something, there would always be a way.

the effects of cryptocurrencies such as bitcoin and altcoin might be easier for the world to carry money anywhere with a smartphone to buy and pay for anything using bitcoins.

There are many impact of cryptocurrency to us. The main is that cryptocurrency makes every people more affresive and this digital money was the one who lead us because we want to earn good and become rich. Yes, there are also many posotive effect but as well as the negative effect of bitcoin today.

When you say impact what aspect do you mean, because impact can either be negative or positive. But since you did not specified let me outline some of the positive and the negative impacts of cryptocurrencies on the economy of any country most especially the 3rd world countries.
1. Bitcoin/cryptocurrencies if properly managed and control it can lead to economic transformation and boom of any country.
2.cryptocurrencies can eas the financial transactions of a country, making sending and receiving money easy.
3. It help to provide financial help to the unemployed youths and providing part time job for the youths and even the elderly.
And it negative impacts are as follows
1. Cryptocurrencies can lead to inflation if not properly managed
2. Cryptocurrencies can be use as a tool for money laundering by corrupt political office holders.

the impact i think is that more people are now interested to bitcoin because of the profit that they are getting from it. Some people are leaving their jobs just to focus im Bitcoin because they believe that the income that they will get is bigger than their jobs' salary which I think is true in some instances.

crypto currencies are addition of income for the poor state and some people who are seeking for job home base! crypto currencies are the best impact to the bank, this is the call for them to change  and give more profit to the people around if they want to keep their customers investing on their company coz if they will not do anything they will at zero investors and depositors the way bitcoin engaging to thee public and its profit

Strongly agree, for now bitcoins as tools to guarantee freedom, not more. We can't expect more, because to stimulate economic growth requires support and governance as well as the central bank. Meanwhile, to make a policy about bitcoin trade itself is still being developed. Forget the third world countries and poor, because some big countries still have problems in getting rid of the economic gap through ownership of this bitcoin.

perhaps those who have felt the impact on cryptocurrency are the countries with the most cryptocurrency adopters, in this case, most of them are developed countries that are almost over 10% of the population have known and used them. As for developing countries and below them, I don't think yet to show the impact of this technology. For the impact in general, of course, there are good impacts and unfortunate impact. One of the good impacts is, transactions between countries become easier and faster and require only a small fee. While one of the bad impacts is, this technology is used as a means of crime such as the sale of forbidden goods and money laundering path.

Crypto currency has both positive and negative effect on the economy of a country particularly the underdeveloped nation of the world. Crypto currency is an avenue for income generation for the populace of both developed and developing countries which will invirably increase their purchasing power and economic activities thereby leading to economic development in the long run. But the effect of crypto currency on the economy is that it encourages money laundry particularly from underdeveloped nations to developed countries and that has economic disadvantage on the underdeveloped countries.

The social and economic impacts of cryptocurrencied are faster and safer transaction that will lead to a better society to live in. It can ultimately change third world country and internet is the key.

Impact of cryptocurrency is nice topic tho, let's talk about in surrounding we can see so many ICOs are going and mnay of them are successful and implemented in markets. Now market become Decentralized this is first impact.
second is economical impact which is far away from our thinking because technology which is running  behind crypto is becoming popular in world like IBM implemented blockchain in import export with maesrk LTD. In Dubai they have implemented blockchain even many banks like Barclays thinking about that technology can really helpful for them.
Third impact people are now much more focus on crypto because crypto has more profit than Stock market trading, It might be make impact on stock market trading.

That is just one shit that cannot erase. Just few people who are able to get out of such shit hole and get a bit exposed to the opportunity they can have to do good for themselves, may end up liberated.

After all, looking at the way so many of the poor countries are far behind and the fact that they are limited to information to even do well for themselves, then, there is absolutely no way things can change that much.

I think a lot of the impact that crypto from bitcoin produces has a higher selling price than others, and maybe for some people make bitcoin as an additional livelihood, and some people make the main income to help meet their needs, and bitcoin is helpful for a number of unemployed people because they can earn money from digital currency, and it will also have an impact on the country itself as it will reduce poverty and improve the economy

.   I believe that crypto currencies in the third world countries could Help And it has a huge impact to their economy, especially when those people at the lower Class could be introduced what Bitcoin is all about  and How it Will changed their lives in the future.. ON the other hand. It is yet could hardly imagine it that there is still a huge  hindrance to become successful in Bitcoin selling or Bitcoin buying or Bitcoin exchange. We should consider things  to be modernize and knowledgeable of using internet and gadgets.

the biggest impact for each people from being cryptocurrencies users is the opportunity to making money and most of people has felt this thing so if there are some people able to making money from cryptocurrencies and automatically will able to feed their families with buy daily life then indirectly this is will bringing good impact too for the particular countries because if the citizen health from financial side then the countries also will prosperous too 

The economic impact is huge as we have a new investment platform which is decentralized and the only investment that is global and the market works round the clock unlike other markets who shuts down during holidays and it is still in the beginning phase and i am sure we will cross a trillion valuation in three years time ,i am not sure how this will help the third world countries if you are not invested  into it.

That's right. f this technology is not useful to us, it could be probably that it won't survive until now. The creation of cryptocurrency is just to promote a new generation of currency which is very applicable at this time. We are evolving into a new era( computer age), computer and internet base transactions are very often at this time. Having using this currency it gives us a comfortable life, in which we can make transactions anytime at our own choice.

The impact of crytocurrency, is majorly seen as that people now are more attracted by the feature of blockchain and are integrity their system to use it in their company, another impact of crytocurrency is the user have got a new way to invest their money.

The impact of cryptocurrency is one of the popular issue. It is increasing day by day.People can earn money easily by this.Bitcoin is the mother of all cryptocurrency.I think,its impact on our real life is positive.

Cryptocurrencies have eliminated financial barriers by allowing people to conduct online transactions using virtual money at a lower cost.Today, some cryptocurrencies have dominated the financial world. Cryptocurrencies such as Bitcoin, Litecoin, and Ether have become popular currency alternatives and used to purchase items electronically.

unfortunately, I don't see options as poor states can earn...many don't even have free Internet access...I'm sure that there is a cryptocurrency for developed countries...at least for now

Lots of people earlier who does not even have much to save up offline to buy crypto, worked for it and imagine someone who has been doing that since let's say 2013 when things are slightly starting to boom then, would pretty much have been able to save a lot right now and be doing very well.

The impact is great and in personal lives, it can really help them to achieve pretty fast. In the economy of a nation at large, it totally depends on the population of those who embrace crypto, because if virtually all the populations are doing well, things will be going well economically.

Crypto will play an important role in the future it will be main thing people will use in the future and yeah crypto has a lot of impact on people life those who are truly devoted to the crypto they want to see crypto system all over the world and this will happen and bitcoin will surely change the lives of people and it doesn’t matter about class if proper info should be provided to the community the journey to the development get easier.

Cryptocurrencies have impacted the world one user at a time. With the use of cryptos, transactions became more easy and as well as more faster. Cryptos allow users to transact with anonymity while taking control or hold of their money.

The impact of Bitcoin is on the economy of Banks higher than other trade. Due to the popularity of Bitcoin people use bitcoin to exchange and make trade which directly make impact on Banks. Other Departments also impacted but not too much. 

Crypto currencies have the capacity to change the socio economic and financial conditions of the world, this crypto currencies gives a sense of financial freedom to the users unlike fiat currencies currently there are more than 800 plus crypto currencies available in the crypto market. Bitcoin is the first crypto currrency and all other crypto currencies are  created in the form of bitcoins but an advanced form of bitcoin crypto currency. Crypto currency is making the whole world move to a digitized world making the online payment transactions world wide easily through the crypto graphy network without a third party involvement.

No doubt cryptocurrencies have a strong and positive social and economical impact in the world. Two major Reasons are as below.
1. Cryptocurrencies are convenient in use and more secure than other online payment services, this make the traders or business persons to process their payments safely.
2. Cryptocurrencies have provided many earning opportunities and thus reducing unemployment, a massive community is now earning through it irrespective of age, gender or religion.
However you are right that some of the countries are still struggling for the basic needs of their people and majority of them  don't have access to internet so use of cryptos would be useless for them.

How will it change and affect our our daiy lives?
It may increase our Earning and spending capacity. Therefore it may strengthen our economic condition.
But biggest hurdle which I think is that limited tech. accessibility in backward areas. Basic Facilities like the internet connection is missing in third world s could we expect them to be a part of this technological revolution.

That's right. Theain reason why people subscribe btc is because of the benefits btc have and will give us. The best impact bitcoin gives to people is have their better and good improvements in life.

I am not sure about the social kmpact, maybe it is connected tith the transactions. Payments an be sent through online with the use of bitcoin. Economic impacts of Bitcoin has to do with the profit that its users and investors are earning. Bitcoin is profitable in different ways making it a desired investment for its users.

The impact of crypto currency is on the all paper currency because paper currency does not give some unique qualities that crypto currency provide such as; the high value pumps of the bitcoin, the high market value of the bitcoin and the most important one is the high security of the bitcoin. Also the easy transfer of the crypto currency and cheap rate for transfer. These qualities make people bound to use bitcoin which directly impact paper currency. The impact on paper currency directly impact the banks trade all over the world.

I think one of the most significant impacts of the cryptocurrency is decentralization of money issuance. Government does not control cryptocurrencies and they has no power to regulate the cryptocurrencies.

Ease access like the worlds internet. No hassle Confidentiality, Anonymous. Fast transactions controlled by the founder alone . The country will try to regulate some of it but it doesnt matter as long as it still working and miners are the heart of it especially to bitcoin miners are the only one that is making bitcoin work.

I think crypto currency has a big impact in social and economic of every country, many people are now being aware in decentralized currency by the help of social media and also the economic growth of one country will being fast and stronger. Government cant control people to used and earn in bitcoin.