Can bitcoin help the world's unbanked?

[sexycoin]

When I tried to buy bitcoins using digital platform I had a lot of headaches but when I tried to do this with money was very simple and easy and fast.

It would be possible Biticoins be the solution for people who do not have bank account or working he says illegally.

I see a great pontecial for it however also see a huge problems is a very volatile currency and much of its user wants to make a profit and therefore much speculation in this way is not safe for these people keep their capital in BTC.

What u think about this?

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[cellard]

When I tried to buy bitcoins using digital platform I had a lot of headaches but when I tried to do this with money was very simple and easy and fast.

It would be possible Biticoins be the solution for people who do not have bank account or working he says illegally.

I see a great pontecial for it however also see a huge problems is a very volatile currency and much of its user wants to make a profit and therefore much speculation in this way is not safe for these people keep their capital in BTC.

What u think about this?

Bitcoin will make a big impact on all developing countries. They'll skip traditional banking and go directly to Bitcoin. There are already ways to easily operate bitcoin operations with a SMS based phone (not even a smartphone needed).

The volatility is a given since its still very new. With time, we'll find a more steady rise, it will keep rissing for ages because there is no other way for it to exist but keep rising as it improves and more people use it, but the volatility will eventually be less.
And even with the volatility, it beats any other money ever.

[Genesys]

I would think it would as everyone is gliding over to it because it is rising and the economical unrest now.
Seems to me people want to moved away from the banks because they as seeing what they can do with your money because they are they ones in power of your money not you. ATM's shutting off when people have waited in line for hours even while the cameras were rolling when I watched the news this evening. That is just what the banking system can do now, just shut off. Then where has your money gone?

[Possum577]

I think bitcoin can help the world's unbanked, underserved and it would be great if that became reality. The problem I see is access. If people aren't being served by a bank they either are very poor or live in a very remote part of the world, which doesn't bode well for internet access for those people which is the biggest requirement for engaging in bitcoin regularly.

How can we over come that gap?

[Amph]

not for everyone, many cannot buy bitcoin locally with their csh, and because of this they rely on a bank account at the end, bitcoin is more suitable with digial platform and everything that is online

we are moving in that way after all, technology is aiming to make everything digital, cash will be annihilated one day i'm sure

[arallmuus]

When I tried to buy bitcoins using digital platform I had a lot of headaches.

This is another reason on why BTC isnt ready to be the global currency because some people have limitation to tech. I heard that weeks before people were discussing wether Zimbabwe should adopt BTC as their currency and of course most people voted yes for it however they are not taking into account that the majority of people still are techsavvy which is a limitation to use BTC . Most part of the Asia even have no access to internet yet in some area of their country let alone the number of people that actually "know" how to operate computer and understand what internet means

It would be possible Biticoins be the solution for people who do not have bank account or working he says illegally.

BTC isnt a tool for people to launder their money. This kind of activity is what makes BTC has a bad publicity all over the media and another reason on why people are staying away from this. People trust the media solely and Media loves to bring is "bad" news which is why this kind of activity kinda hindering BTC growth

I see a great pontecial for it however also see a huge problems is a very volatile currency and much of its user wants to make a profit and therefore much speculation in this way is not safe for these people keep their capital in BTC.

Volatility has always been issue and keep into account as well that if you are planning to "save" your money in form of BTC than volatility will be a major issue unless you are prepared to deal with it and let it go. However if you are viewing BTC as a source of "investment" than this volatility could be a bless because of this volatility you could gain alot more with your capital .

[AtheistAKASaneBrain]

not for everyone, many cannot buy bitcoin locally with their csh, and because of this they rely on a bank account at the end, bitcoin is more suitable with digial platform and everything that is online

we are moving in that way after all, technology is aiming to make everything digital, cash will be annihilated one day i'm sure

Anyone can start accepting payments with Bitcoin anywhere, this is very important and would have been impossible for tens of people out there in a pre-Bitcoin world.
The ones that don't have any internet tho, they are pretty much trapped on their own countries. Without internet there isnt much hope.

[sexycoin]

When I tried to buy bitcoins using digital platform I had a lot of headaches.

This is another reason on why BTC isnt ready to be the global currency because some people have limitation to tech. I heard that weeks before people were discussing wether Zimbabwe should adopt BTC as their currency and of course most people voted yes for it however they are not taking into account that the majority of people still are techsavvy which is a limitation to use BTC . Most part of the Asia even have no access to internet yet in some area of their country let alone the number of people that actually "know" how to operate computer and understand what internet means

It would be possible Biticoins be the solution for people who do not have bank account or working he says illegally.

BTC isnt a tool for people to launder their money. This kind of activity is what makes BTC has a bad publicity all over the media and another reason on why people are staying away from this. People trust the media solely and Media loves to bring is "bad" news which is why this kind of activity kinda hindering BTC growth

I see a great pontecial for it however also see a huge problems is a very volatile currency and much of its user wants to make a profit and therefore much speculation in this way is not safe for these people keep their capital in BTC.

Volatility has always been issue and keep into account as well that if you are planning to "save" your money in form of BTC than volatility will be a major issue unless you are prepared to deal with it and let it go. However if you are viewing BTC as a source of "investment" than this volatility could be a bless because of this volatility you could gain alot more with your capital .

I agree 100% with you. When we look for small cities in the word BTC is not a solution because this people don't have Internet yet.However There is a lot of Unbanked people in big Cities how andestand internet and have Smartphones. For this people BTC can be the solution, like u say for working he says illegally.

I use BTC like a "investment" and I think (i do not have numbers for taste) most part the people use BTC for this in this way but this fact making it much more difficult for the market stay stable because of speculation.

[sexycoin]

not for everyone, many cannot buy bitcoin locally with their csh, and because of this they rely on a bank account at the end, bitcoin is more suitable with digial platform and everything that is online

we are moving in that way after all, technology is aiming to make everything digital, cash will be annihilated one day i'm sure

Anyone can start accepting payments with Bitcoin anywhere, this is very important and would have been impossible for tens of people out there in a pre-Bitcoin world.
The ones that don't have any internet tho, they are pretty much trapped on their own countries. Without internet there isnt much hope.

I 100% Agree whith u but for this happen is very important that a micro economy  base BTC to be created but I see some problems in this:

1. The number of people who know about biticoins is not very big and it is important people undestand BTC for Start aceptin and using.

2. BTC is a currency that has a lot of volatility and this for a Micro economy is not a good factor.

3. Accept BTC is very simple however as to pay merchants suppliers would have to sell BTC which would generate a great demand for sale which can cause prices suffer a devaluation.

[Kapz786]

Bitcoin do have some flaws that need to be fixed, mainly security issues, otherwise everything else is fine. So when bitcoin enter a not yet developed country like Greece, people will immediately began using it because banks and PayPals are down. But it would take a long time for people to get to understand the ins and outs of bitcoin like we did. It will take time, on the other hand, because they all might be "newbies" in btc, this will allow hackers/scammers to invade their wallets. I believe bitcoin no question will help and is already helping with the World's unbanked. That is why bitcoin just hit a 4 month high. This is the chance for bitcoin to rise. 

[HigsonPP]

Bitcoin is gaining interest of unbanked gradually. But the growth of Bitcoin is still on a hold ,because it is all about getting digital. People are still coping with the basics of internet itself. So the population needs to be more mod , to enjoy the technological luxuries.

[HarHarHar9965]

Bitcoin is gaining interest of unbanked gradually. But the growth of Bitcoin is still on a hold ,because it is all about getting digital. People are still coping with the basics of internet itself. So the population needs to be more mod , to enjoy the technological luxuries.

Yes, a lot of people who are apparently 'unbanked' status, have gained quite an interest in bitcoin. The reason why the growth of bitcoin is on hold is because inadequate or accurate media attention is lacking, heavy adoption by the masses seems to be delayed and  ofcourse, digital literacy is a need of the time. After such basic requirements have been accomplished, maybe bitcoin grows to achieve bigger milestones.

[Miracal]

Bitcoin is gaining interest of unbanked gradually. But the growth of Bitcoin is still on a hold ,because it is all about getting digital. People are still coping with the basics of internet itself. So the population needs to be more mod , to enjoy the technological luxuries.

Yes, a lot of people who are apparently 'unbanked' status, have gained quite an interest in bitcoin. The reason why the growth of bitcoin is on hold is because inadequate or accurate media attention is lacking, heavy adoption by the masses seems to be delayed and  ofcourse, digital literacy is a need of the time. After such basic requirements have been accomplished, maybe bitcoin grows to achieve bigger milestones.

Bitcoin is much much more than a risky investment, much more than a payment gateway and much more than just a currency, its special super powers and tweaks and improvisations from the usual are exactly what make it one of the best at what it is. I have never seen such a fine investment, such a secure payment gateway and such a comfortable currency in my life yet

[greBit]

Bitcoin is gaining interest of unbanked gradually. But the growth of Bitcoin is still on a hold ,because it is all about getting digital. People are still coping with the basics of internet itself. So the population needs to be more mod , to enjoy the technological luxuries.

Yes, a lot of people who are apparently 'unbanked' status, have gained quite an interest in bitcoin. The reason why the growth of bitcoin is on hold is because inadequate or accurate media attention is lacking, heavy adoption by the masses seems to be delayed and  ofcourse, digital literacy is a need of the time. After such basic requirements have been accomplished, maybe bitcoin grows to achieve bigger milestones.

Bitcoin is much much more than a risky investment, much more than a payment gateway and much more than just a currency, its special super powers and tweaks and improvisations from the usual are exactly what make it one of the best at what it is. I have never seen such a fine investment, such a secure payment gateway and such a comfortable currency in my life yet

Bitcoin might be a risky investment but considering other investments, I think I will find much more returns through bitcoin. It is not such a developed payment gateway and bad hacking incidents and money laundering issues have made bitcoin an evil currency for a few people. However, it is much developed and mature now. Yes, it seems just as an investment right now to me. Nothing more, I don't really expect much, call me cynical (:

[yayayo]

I 100% Agree whith u but for this happen is very important that a micro economy  base BTC to be created but I see some problems in this:

1. The number of people who know about biticoins is not very big and it is important people undestand BTC for Start aceptin and using.

I don't understand this point - Bitcoin started with zero acceptance. If something is useful it will be adopted.

2. BTC is a currency that has a lot of volatility and this for a Micro economy is not a good factor.

It's still better than many national currencies in the developing nations which suffer from high inflation that is guaranteed to happen. Also, volatility would be much less a problem in a Bitcoin-only economy.

3. Accept BTC is very simple however as to pay merchants suppliers would have to sell BTC which would generate a great demand for sale which can cause prices suffer a devaluation.

That makes no sense at all. For every seller there's a buyer. Why would there be more selling? All coins that are sold have been bought before. If more people use Bitcoin, it will rise in value regardless how it's used, because a limited number of Bitcoin is distributed among a rising number of people.

ya.ya.yo!

[Amph]

not for everyone, many cannot buy bitcoin locally with their csh, and because of this they rely on a bank account at the end, bitcoin is more suitable with digial platform and everything that is online

we are moving in that way after all, technology is aiming to make everything digital, cash will be annihilated one day i'm sure

Anyone can start accepting payments with Bitcoin anywhere, this is very important and would have been impossible for tens of people out there in a pre-Bitcoin world.
The ones that don't have any internet tho, they are pretty much trapped on their own countries. Without internet there isnt much hope.

usually those without internet do not need bitcoin or any tech for that matter, they are people living in farm and they can produce everything for their living

bitcoin can not accomodate everyone, especially those that are not using even fiat

[Outlander]

I think its harder to introduce bitcoin to unbanked people than people who have account in the bank, since they have known economical system in the bank, like transaction, how to save money, exchange their fiat to other nation currency. So, bitcoin can help the unbanked, but unbanked are hard to understand about it.

For unbanked ppl, they are either banned by the banks or living in undeveloped contries. It is difficult for them to get into bitcoin. Coz they cannot  access the exchange to buy bitcoin through bank deposit. Probably they can go through localbitcoin.com. For ppl living in undeveloped country, they have no facility to access internet. Besides that, they may lack the knowledge to understand bitcoin. And their bitcoin ecosystem may be very weak! 

[randy8777]

not for everyone, many cannot buy bitcoin locally with their csh, and because of this they rely on a bank account at the end, bitcoin is more suitable with digial platform and everything that is online

we are moving in that way after all, technology is aiming to make everything digital, cash will be annihilated one day i'm sure

Anyone can start accepting payments with Bitcoin anywhere, this is very important and would have been impossible for tens of people out there in a pre-Bitcoin world.
The ones that don't have any internet tho, they are pretty much trapped on their own countries. Without internet there isnt much hope.

usually those without internet do not need bitcoin or any tech for that matter, they are people living in farm and they can produce everything for their living

bitcoin can not accomodate everyone, especially those that are not using even fiat

people with a simple mobile phone can send money or bitcoin if they so wish via sms. internet isn't necessarily needed. but i believe at some point all people world wide will be able to access the net. no matter where they are. bitcoin then has way more chances of being the best option then.

[HarHarHar9965]

Bitcoin is gaining interest of unbanked gradually. But the growth of Bitcoin is still on a hold ,because it is all about getting digital. People are still coping with the basics of internet itself. So the population needs to be more mod , to enjoy the technological luxuries.

Yes, a lot of people who are apparently 'unbanked' status, have gained quite an interest in bitcoin. The reason why the growth of bitcoin is on hold is because inadequate or accurate media attention is lacking, heavy adoption by the masses seems to be delayed and  ofcourse, digital literacy is a need of the time. After such basic requirements have been accomplished, maybe bitcoin grows to achieve bigger milestones.

Bitcoin is much much more than a risky investment, much more than a payment gateway and much more than just a currency, its special super powers and tweaks and improvisations from the usual are exactly what make it one of the best at what it is. I have never seen such a fine investment, such a secure payment gateway and such a comfortable currency in my life yet

Bitcoin might be a risky investment but considering other investments, I think I will find much more returns through bitcoin. It is not such a developed payment gateway and bad hacking incidents and money laundering issues have made bitcoin an evil currency for a few people. However, it is much developed and mature now. Yes, it seems just as an investment right now to me. Nothing more, I don't really expect much, call me cynical (:

I agree that bitcoin might be one of the greatest currency of all time and I love trading in the bitcoin currency. However, I feel that as an investment is how its treated, and as an investment, it will never replace gold for obvious reasons. Yes, Gold might lose the power it has if bitcoins becomes powerful, but gold is scarce and limited, it will always have a great value, it can't collapse like that.

[Q7]

I don't think volatility will become an issue in the near future. We can see that price are stabilizing and that goes to show when adoption increases with more people using bitcoin and the market size getting huge, whales will find it harder to manipulate the markets.