Can bitcoin help the world's unbanked?

[sexycoin]

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.

If something is useful it will be adopted. This is a very good point the  only problem it is people need Know about for use.

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.

Ok Ok I'll study better about this. Thank you!

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!

We talk here about a Microeconomic (small city, Small Community ...) and my point it is how u pay for example The Coca-Cola Company if they don't accept BTC.

[Gervais]

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.

I think volatility is always going to be an issue, though I hope I'm wrong. However, an ideal scenario would be bitcoin to keep rising as more and more people get involved. I think this is how money should work. Money should grow over time and not devalue like fiat.

[arallmuus]

-snip-

like u say for working he says illegally.

I dont stated anything that I am agree with this, in fact I am against things that are illegal because BTC isnt suppose to be a tool for people to launder their money. This will only hinder BTC growth as bad publicity will make more people have the wrong perception about BTC that it is related to criminal. In fact this issue has been here alot and the nature of BTC as well as its anonimity is what makes people use it to launder money.

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.

The market is indeed full of speculation however the price of BTC isnt a sole indicator to determine thing about BTC. BTC has its own value, if you actually value the ability to secure your money in a top notch security than BTC is the tool for that (security is a value for some people). Stable market will most likely be achieved once the whole supply is in the market and thats takes around 100+ years or atleast until there are alot more "demands" on it rather than manipulation on the demands

[Gyfts]

Bitcoin is the easiest form of currency to accept, so clearly it's going to be good for those who want to avoid the whole process of verification with bank, specifically criminals for that matter. If banking isn't in stable conditions (for example Greece), then Bitcoin is absolutely dire. Bitcoin helps those unbanked, and those with "corrupt banks".

[HarHarHar9965]

Bitcoin is the easiest form of currency to accept, so clearly it's going to be good for those who want to avoid the whole process of verification with bank, specifically criminals for that matter. If banking isn't in stable conditions (for example Greece), then Bitcoin is absolutely dire. Bitcoin helps those unbanked, and those with "corrupt banks".

I think the association with criminals and bitcoins has really affected the image of bitcoins. I wish there was something which could be done to stop access of bitcoins to people being involved in criminal activity. With all the advanced technology, all the tracking systems and algorithms, is there something which could be done to stop such malicious activity or we let it go just because it brings in more trade? :/

[Miracal]

Bitcoin is the easiest form of currency to accept, so clearly it's going to be good for those who want to avoid the whole process of verification with bank, specifically criminals for that matter. If banking isn't in stable conditions (for example Greece), then Bitcoin is absolutely dire. Bitcoin helps those unbanked, and those with "corrupt banks".

I think the association with criminals and bitcoins has really affected the image of bitcoins. I wish there was something which could be done to stop access of bitcoins to people being involved in criminal activity. With all the advanced technology, all the tracking systems and algorithms, is there something which could be done to stop such malicious activity or we let it go just because it brings in more trade? :/

Bitcoin combines cryptography and a peer-to-peer architecture to avoid a central authority rather than how digital currencies such as eGold and WebMoney operated, law enforcement agencies have more difficulty identifying suspicious users and obtaining transaction records and getting criminals under their handcuffs. This has definitely screwed up the scene for bitcoin a little.

[greBit]

Bitcoin is the easiest form of currency to accept, so clearly it's going to be good for those who want to avoid the whole process of verification with bank, specifically criminals for that matter. If banking isn't in stable conditions (for example Greece), then Bitcoin is absolutely dire. Bitcoin helps those unbanked, and those with "corrupt banks".

I think the association with criminals and bitcoins has really affected the image of bitcoins. I wish there was something which could be done to stop access of bitcoins to people being involved in criminal activity. With all the advanced technology, all the tracking systems and algorithms, is there something which could be done to stop such malicious activity or we let it go just because it brings in more trade? :/

Bitcoin combines cryptography and a peer-to-peer architecture to avoid a central authority rather than how digital currencies such as eGold and WebMoney operated, law enforcement agencies have more difficulty identifying suspicious users and obtaining transaction records and getting criminals under their handcuffs. This has definitely screwed up the scene for bitcoin a little.

There have been so many hacks and attacks with the involvement of bitcoin as either theft or asked as ransom. A recent attack happened recently. The attacks took place in two stages. An initial DDoS attack was followed by threats of further and more severe attacks if the targeted websites did not complete bitcoin payments. If you want to read more bitcoin crimes, here's a link: http://www.coindesk.com/bitcoin-crime/

[Zorrocoin]

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?

Yes I think that bitcoin is right now the status is at the same point but it will grow and achieve greater heights. People do have a problem with the online platform at first but this is , trust me, faster and more efficient than anything else. Many people have made huge profits outta it even after having an unbanked status.

[Argwai96]

There is always different way to implement a solution for the unbanked has most of them are none tech individuals either a savings feature on a cell phone provider using bitcoin to keep cost at a low level or even on a supermarket where they could go and buy saving accounts with x amount of bitcoin it just like a paper wallet.

[aakashsangwan]

according to me the bitcoin can help the world's unbanked, as they can buy bitcoins from a local trader and can enjoy it's benefits.

But how the people who don't believe on banks with their money can trust on bitcoin, whose value is so much fluctuating???

[Amph]

according to me the bitcoin can help the world's unbanked, as they can buy bitcoins from a local trader and can enjoy it's benefits.

But how the people who don't believe on banks with their money can trust on bitcoin, whose value is so much fluctuating???

if they don't believe for bank they should start searching for an alternative in theory, this mean that bitcoin have a chance to accomodate their need, but maybe only as a investments for now, and not much as a currency

the currency aspect of bitcoin will get stronger with better stability, at that point those people will use it more

[aakashsangwan]

according to me the bitcoin can help the world's unbanked, as they can buy bitcoins from a local trader and can enjoy it's benefits.

But how the people who don't believe on banks with their money can trust on bitcoin, whose value is so much fluctuating???

if they don't believe for bank they should start searching for an alternative in theory, this mean that bitcoin have a chance to accomodate their need, but maybe only as a investments for now, and not much as a currency

the currency aspect of bitcoin will get stronger with better stability, at that point those people will use it more

I do think so as in the future the bitcoins generated per block will get reduced and their price will probably increase.

[greBit]

according to me the bitcoin can help the world's unbanked, as they can buy bitcoins from a local trader and can enjoy it's benefits.

But how the people who don't believe on banks with their money can trust on bitcoin, whose value is so much fluctuating???

if they don't believe for bank they should start searching for an alternative in theory, this mean that bitcoin have a chance to accomodate their need, but maybe only as a investments for now, and not much as a currency

the currency aspect of bitcoin will get stronger with better stability, at that point those people will use it more

To be accepted more than an investment and also treated like a common currency, there are a lot of room for improvement for bitcoin and a lot of infrastructural, social and economical reasons which permit countries for completely adopting bitcoin, and once such issues are resolved and the world is prepared to go digital, we take them digital and change the market

[bumm]

yes i can help the worlds unbanked. there are a lot of ways in which bitcoin can help the unbanked of the world. there are also ways through which you can control bitcoins through sms based phones. so you dont even need a smartphone to control your bitcoins. and its value will stabilize after it is properly adopted by the world..

[Miracal]

yes i can help the worlds unbanked. there are a lot of ways in which bitcoin can help the unbanked of the world. there are also ways through which you can control bitcoins through sms based phones. so you dont even need a smartphone to control your bitcoins. and its value will stabilize after it is properly adopted by the world..

I think there are services which offer controlling and managing bitcoins just through sms but it hasn't expanded much yet. A lot of countries are still not supported, however that could be overcome. Its not always necessary to have a smart phone to act smart, controlling btc with sms, no need of internet now. How awesome is that?

[zero01]

I agree with you, but it might just facilitate transactions online, but if you want to exchange $ must have a bank account

[zeraTunerse]

"The root problem with conventional currency," wrote Nakamoto in 2009, "is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts." In contrast, everything in Nakamoto's system "is based on crypto proof rather than trust".

Source: 2009, Guardian and SATOSHI'S Diary.

[Mickeyb]

yes i can help the worlds unbanked. there are a lot of ways in which bitcoin can help the unbanked of the world. there are also ways through which you can control bitcoins through sms based phones. so you dont even need a smartphone to control your bitcoins. and its value will stabilize after it is properly adopted by the world..

I think there are services which offer controlling and managing bitcoins just through sms but it hasn't expanded much yet. A lot of countries are still not supported, however that could be overcome. Its not always necessary to have a smart phone to act smart, controlling btc with sms, no need of internet now. How awesome is that?

In theory this can be done, but we are still far away from this. But just a point that it can be done shows how awesome is Bitcoin and its true potential.

Can Bitcoin help unbanked? Of course it can. One day you will be able to send $10 wotth of Bitcoin to the farmer in Kenya and he will be using just a basic mobile phone with text messaging, nothing else.

[Kaneki]

I think if a problem exists at the prices fluctuate, the value will be stable if it is adopted by the whole world, for bitcoin help the world's unbanked I think this will not be easy for a few decades forward what else to still lack the know people's digital currency

[ANON.PURGED]

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?

I highly agree, People is very safe using Bitcoin as a bank account , There plenty of methods which you can crypt nor protect your wallet using private / pub key