If people in third world countires all have Facebook ,

[richardsNY]

Because most of them dont know what crypto is, it pains me to see people only use the internet for social media only when it has so much more possibilities

It has all to do with the companies there that are having too much power and are charging high fees for their services. They don't want these people to know Bitcoin. If these people would all switch to Bitcoin, then these companies will suffer massively. They don't care about the people. They only care about profit.

[ThunderThomas]

I think it's because of the things that they need to even own a wallet is not directly available to them. You're going to need internet to set up a wallet or even download one to have it offline. To make money, everything revolves around internet.

[Blind Legs Parker]

yes and guiding them to cheaper but strong altcoins

Buying bitcoin in a 3rd world currently would be quite difficult i would think due to the price, Which is only going to get higher. Btc is pretty expensive in 1st world countries never mind 3rd world.

Why is everyone talking about the price? There isn't any country in the whole world where the poorest guy wouldn't be able to afford buying some satoshis.
And if they buy cheaper alternate cryptos it's the same. If they want security they'll buy litecoins, and let's say that for said amount in local fiat they'd get 0.01 BTC, that sure doesn't sound like much because of the zeros, whereas in litcoins, 1 LTC sound much better, but in the end, it's the same amount of money. Just LTC is (roughly) a 100 times cheaper, so if you buy LTC you'll have the feeling that you're holding more money, but that feeling is wrong. It's actually the same amount of money. (And well, if they don't mind security then the prospect of getting rich with low starting funds is higher but the risk is higher as well).
At any rate can you or can you not afford to invest in something has literally nothing to do with the price of what you're investing in. Only the market, prospects, and degree of risk matter. The price doesn't.

[bitsmichel]

why dont they have acess to their own Crypto Bank/Wallet

They don't have access to the internet. Only some apps like Facebook, if they have access at all.

[gentlemand]

There is no risk with Facebook. You don't have to learn anything. You just plug in and start posting duck pouts.

BTC is a matter of awareness and education wherever you go in the world. There's also the issue of how you obtain it in the first place. If you don't have a pot to piss in or any kind of banking then it's not going to be very high on your list of priorities.

Third world shitholes aren't going to be anywhere near as fertile as developing countries that are hungry to better themselves.

[maokoto]

They should have indeed. For some countries, the low earnings obtained through faucets may even be meaningful at their life costs.

[MTBTT]

why dont they have acess to their own Crypto Bank/Wallet

Because they haven't heard the concept of Cryptocurrencies yet. If they did, everyone in Africa or elsewhere would be using BTC because how convenient and efficient the system is.

Facebook on the other hand is pretty well known, even in 3rd world countries.

[lolgato]

I'm from a third world country I have Facebook rarely use it and I'm using bitcoins and buying it no problems with me.

[mirana12345]

why dont they have acess to their own Crypto Bank/Wallet

Because they haven't heard the concept of Cryptocurrencies yet. If they did, everyone in Africa or elsewhere would be using BTC because how convenient and efficient the system is.

Facebook on the other hand is pretty well known, even in 3rd world countries.

Are they not using some sort of cellphone banking in Africa (there was some projects even made possible by Bill Gates regarding that ) ?

The people in third world countries have barely enough money to buy groceries and for basic needs, so there's little chance of seing them
utilizing blockchain tech, or bitcoin for that matter. Don't see the point in targeting that sort of clients/users .

[mtnsaa]

If these people (average persons) manage their Bitcoin wallets like they do their profiles they will be out of BTC in a week. Wallets, long address, decimals, qr codes, authorization keys and no refunds is not something for non tech savvy people to mess with.

[randy8777]

They should have indeed. For some countries, the low earnings obtained through faucets may even be meaningful at their life costs.

of course. what we consider to be not worthy time wasting faucet payouts, are a good extra income for people from third world countries. for these people farming faucets is a more than good time investment.

[bitcoin revo]

why dont they have acess to their own Crypto Bank/Wallet

They don't have access to the internet. Only some apps like Facebook, if they have access at all.

Eh? Internet good enough for Facebook is Internet good enough for getting a wallet. Using Facebook would use up a lot of data, so it's not like getting a wallet requires a better internet connection than it.

[NorrisK]

If these people (average persons) manage their Bitcoin wallets like they do their profiles they will be out of BTC in a week. Wallets, long address, decimals, qr codes, authorization keys and no refunds is not something for non tech savvy people to mess with.

It can also help to educate them about cyber security. Just remember how you where when you just started on the internet and with your first social media profile.. Atleast for me, it wouldn't have been hard to guess my passwords back then.. Luckily I learned to be more secure without losing anything of value or something.

Also, when I look around, nobody seems to care even the slightest about security. Passwords of 99% of people I know could probably easily be cracked with some info about them. It is not limited to third world countries.

[mirana12345]

why dont they have acess to their own Crypto Bank/Wallet

They don't have access to the internet. Only some apps like Facebook, if they have access at all.

Eh? Internet good enough for Facebook is Internet good enough for getting a wallet. Using Facebook would use up a lot of data, so it's not like getting a wallet requires a better internet connection than it.

I think he was referring to the 0.facebook version of it, which doesn't charge the consumption of data transferred, and doesn't even show images or videos, just text.
If people in these countries don't have fixes internet connection, or even enough money to pay for basics, i honestly doubt they can or would pay for mobile data packets.