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Author Topic: Can Bitcoin help poor countries?  (Read 73670 times)
prabowo96
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September 01, 2016, 03:59:24 AM
 #1

Can Bitcoin or any other altcoin help poor countries?
how? what can be done?

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September 01, 2016, 06:17:12 AM
 #2

Bitcoin is not some magic pill that will solve all problems.

Bitcoin might be able to help reduce curruption on some levels and make it harder for public money to dissappear in the hands of the few (e.g. charity money can be traced on the blockchain and verified what it is spend on).

But for a lot of poor countries, there are more fundamental things that need to change in order to increase the wealth of the countries. 
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September 01, 2016, 06:35:06 AM
 #3

Bitcoin can't help an entire country. but it can surely help the person who use bitcoin if he's poor. and if a country have a lot of bitcoin users then it will surely be beneficial and for that country.
bitcoin need some contribution. if you contribute with bitcoin and crypto currencies . they will reward you for sure. but if you think bitcoin should give you fortune without doing anything just because you are a poor person then keep dreaming.
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September 01, 2016, 06:38:49 AM
 #4

Can Bitcoin or any other altcoin help poor countries?
how? what can be done?
Bitcoin and another coins are never will help the poor countries is exit from their problem because like the countries is becoming a poor country is caused by how their government is managing their country and bitcoin is just a currency and just helping you in the currency area.

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September 01, 2016, 07:07:18 AM
 #5

Poor countries need a very optimistic government towards new tech so that they can embrace bitcoin like tecnology and support mining bitcoin to generate free foreign currency which they can use to increase their USD holdings to become stronger economically. But most of the poor countries are poor due to corrupt political system and political unsatability and they don't have enough time to consider and learn about bitcoin.

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September 01, 2016, 07:12:02 AM
 #6

Can Bitcoin or any other altcoin help poor countries?
how? what can be done?
For me bitcoin can't help the country when the country is poor some countrybare populated but if a poor people start using bitcoin probably it can help them to earn money for their selves because poor people is the problem of the goverment and not a bitcoin problem
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September 01, 2016, 07:18:22 AM
 #7

Bitcoin can't help the poor countries in any way because it is not the magic lantern of Aladin. If the country is tech savy even after being poor then the people can help themselves by earning some bitcoin for themselves. Nothing else will help.

Government of the poor countries doesn't have the infrastructure to adopt bitcoin as a currency, neither they have willingness.

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September 01, 2016, 07:19:19 AM
 #8

Bitcoin cannot help a poor country. I have the following reasons which I would like to site:

Low Internet access - If people cant access internet how will they even know about bitcoin let alone do transactions through it.
Low Security measures - totally insecure to them since they have very low knowledge
Low Fees for miners - This will hurt miners
Low usage - People in poor countries are "Poor" - they need more time to work hard and earn Fiat, since they are poor they would never accept bitcoin as primary source of money and would never believe that it is secure as well.

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September 01, 2016, 07:21:38 AM
 #9

I don't think so. These countries are poor for a reason. If you would look at them with caution, you will find out that these countries' governments have either not accepted US's rules or got some mass of oil or commodities. Anyways, I'm going off topic right now.

Bitcoin can't help poor countries, except if there was a donation or something where we could send our money to be spent for the poor. However, we've seen many of these 'donations' and no change at all so...

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September 01, 2016, 07:22:34 AM
 #10

yes bitcoin can help poor countries. Just like what happened to me and my peers who are living in a third world country. Before many of us do not earn while at home and some just sit on the couch and watching television. But when bitcoin came into the picture within our homes we can earn thru online jobs and signature campaigns and from investments. By sitting on the couch and facing the computer we are earning bitcoins and convert it to cash.
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September 01, 2016, 07:22:42 AM
 #11

Bitcoin or any other altcoin cannot necessarily help poor countries. Not everyone in third world countries has an Internet access, and even if somebody has an Internet access, it doesn't assure that he is interested or is he knowledgeable about Bitcoin. I think the only people that can financially helped by Bitcoin are those that have a deep knowledge about it. The trading, gambling, and other stuffs that you can do with Bitcoin can only be obtained through experience and an intrinsic interest towards Bitcoin.

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September 01, 2016, 07:30:10 AM
 #12

Can Bitcoin or any other altcoin help poor countries?
how? what can be done?

I wouldn't see how tbh, like someone else mentioned maybe there will be less money going to corrupted governments because everything goes digital and they have no saying in this but besides that there's not much it could do I guess
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September 01, 2016, 07:39:59 AM
 #13

Help a poor country means? To grow? I don't think so if it's only bitcoin. Honestly, even bitcoin will be accepted in a country, that country must not depend their economic growth on it. Of course every country has their own ways to be productive and grow, if ever, bitcoin will just be an addition to that. It can help those unemployed citizens individually if they will be giving such effort to learn about it and earn it.
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September 01, 2016, 07:48:39 AM
 #14

Can Bitcoin or any other altcoin help poor countries?
how? what can be done?

If there's an internet yes.

But people on those poor countries doesn't have a reliable internet service together with devices that can accessed the web. Also I think there is no local exchanger that will make such service in those poor countries since accessibility will really goes into difficult way.

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September 01, 2016, 07:53:10 AM
 #15

Can Bitcoin or any other altcoin help poor countries?
how? what can be done?
yes bitcoin can help people who live in poor countries but i don't know the countries what you mean at least they can earn money from bitcoin.

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September 01, 2016, 07:56:33 AM
 #16

Bitcoin itself cant help poor countries but it can help people to earn money with bitcoin. and if you are a hard working person, you can take it as a full time job and help you somehow to have a good life.

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September 01, 2016, 08:00:24 AM
 #17

Bitcoin itself cant help poor countries but it can help people to earn money with bitcoin. and if you are a hard working person, you can take it as a full time job and help you somehow to have a good life.

So how people from poor countries can work for bitcoin if internet connection is really horrible? Also how they will do such bitcoin earning method if they are lacked of devices?

And more importantly, how they can use their bitcoin if no exchanger that has a convertion services is not available since I think no exchanger will opened services for poor countries due to lack of accessibility.

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September 01, 2016, 08:07:57 AM
 #18

Bitcoin, just like other currencies is only a tool. It cant help anybody by itself. It depends on the person who uses that tool. So, bitcoin cant help poor countries if those countries dont make any action regarding bitcoin. It seems complicated but thats the truth!

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September 01, 2016, 08:30:18 AM
 #19

Bitcoin might be able to help reduce curruption on some levels and make it harder for public money to dissappear in the hands of the few (e.g. charity money can be traced on the blockchain and verified what it is spend on).

It's nice to see a comment like that, it can help ALL countries, not just the poor.

Bitcoin can't help an entire country. but it can surely help the person who use bitcoin if he's poor. and if a country have a lot of bitcoin users then it will surely be beneficial and for that country.
bitcoin need some contribution. if you contribute with bitcoin and crypto currencies . they will reward you for sure. but if you think bitcoin should give you fortune without doing anything just because you are a poor person then keep dreaming.

Yeap, that was my first thought: you can do online jobs and receive on bitcoins, so you can have a better $/hour.
but the poorest contries/people don't have access to a computer/internet or skills.

Can Bitcoin or any other altcoin help poor countries?
how? what can be done?
Bitcoin and another coins are never will help the poor countries is exit from their problem because like the countries is becoming a poor country is caused by how their government is managing their country and bitcoin is just a currency and just helping you in the currency area.

Well, the first comment shows to us the bitcoin can help against corruption and that's a big step.
Maybe a altcoin related to education? Other day I saw a altcoin related to chess, where kids can earn playing, maybe someone can make something like that.

Poor countries need a very optimistic government towards new tech so that they can embrace bitcoin like tecnology and support mining bitcoin to generate free foreign currency which they can use to increase their USD holdings to become stronger economically. But most of the poor countries are poor due to corrupt political system and political unsatability and they don't have enough time to consider and learn about bitcoin.

Like a altcoin used as second currency? And instead of big taxes, the government can mine the coin?
Yeap, for sure it's more easily to rich countries do that.

Can Bitcoin or any other altcoin help poor countries?
how? what can be done?
For me bitcoin can't help the country when the country is poor some countrybare populated but if a poor people start using bitcoin probably it can help them to earn money for their selves because poor people is the problem of the goverment and not a bitcoin problem

Sometimes poor countries are explored by rich countries too. oil, diamonds...

Government of the poor countries doesn't have the infrastructure to adopt bitcoin as a currency, neither they have willingness.

Yeap, infrastructure seems to be the major problem. What if some countries, for example 6, set up a union and create a altcoin?
The price will increase a lot if they use it as a secondary currency, the taxes between that countries can go down and heat the commerce
Like the European Union(I don't understand to much about the EU, don't know all the benefits/evils)

Bitcoin cannot help a poor country. I have the following reasons which I would like to site:

Low Internet access - If people cant access internet how will they even know about bitcoin let alone do transactions through it.
Low Security measures - totally insecure to them since they have very low knowledge
Low Fees for miners - This will hurt miners
Low usage - People in poor countries are "Poor" - they need more time to work hard and earn Fiat, since they are poor they would never accept bitcoin as primary source of money and would never believe that it is secure as well.

Yeap, that reasons is a good point.
Now think about that, can bitcoin or a altcoin bring more tecnology to poor countries?
For example, the government creates a "Example Coin" to use as secondary currency, they can open a big miner to mine this coin, the altcoin will increase the value, government can use that valorized coin to buy computers to schools and/or for people in general, the government can pay peoples to teach others. And after people start to use, it will maintain a good price. And tecnology can bring knowledge. And well, I think this can be done with smartphones too, nowadays have some real cheap(they can use to read news, ebooks, forums, everything).
The government can use the coin to invest in tecnology.
Or not.

I don't think so. These countries are poor for a reason. If you would look at them with caution, you will find out that these countries' governments have either not accepted US's rules or got some mass of oil or commodities. Anyways, I'm going off topic right now.

Bitcoin can't help poor countries, except if there was a donation or something where we could send our money to be spent for the poor. However, we've seen many of these 'donations' and no change at all so...

Yeap, major problem is the government(inside or outside)

Donations are there since a long time, I think poor countries need something related to education, I mencioned a "example" of a altcoin related to chess in other reply..

yes bitcoin can help poor countries. Just like what happened to me and my peers who are living in a third world country. Before many of us do not earn while at home and some just sit on the couch and watching television. But when bitcoin came into the picture within our homes we can earn thru online jobs and signature campaigns and from investments. By sitting on the couch and facing the computer we are earning bitcoins and convert it to cash.

Good to read that, maybe you can learn to use some softwares like Photoshop or something like that to earn more and have a job!

Bitcoin or any other altcoin cannot necessarily help poor countries. Not everyone in third world countries has an Internet access, and even if somebody has an Internet access, it doesn't assure that he is interested or is he knowledgeable about Bitcoin. I think the only people that can financially helped by Bitcoin are those that have a deep knowledge about it. The trading, gambling, and other stuffs that you can do with Bitcoin can only be obtained through experience and an intrinsic interest towards Bitcoin.

Yeap, the tecnology factor is a problem. Now... How can bitcoin/altcoin bring tecnology to poor countries?

Help a poor country means? To grow? I don't think so if it's only bitcoin. Honestly, even bitcoin will be accepted in a country, that country must not depend their economic growth on it. Of course every country has their own ways to be productive and grow, if ever, bitcoin will just be an addition to that. It can help those unemployed citizens individually if they will be giving such effort to learn about it and earn it.

To help with financial status, to bring knowledge to people, to bring more tecnology to this countries, I think a computer/internet can open ways, and people can use it as a second currency, maybe doing online jobs. You know, they receive a very small salary, with training they can earn in a month what they earn in a year. Of course it would be in long term.
Well, I don't have the magic formula to this.


Bitcoin itself cant help poor countries but it can help people to earn money with bitcoin. and if you are a hard working person, you can take it as a full time job and help you somehow to have a good life.

So how people from poor countries can work for bitcoin if internet connection is really horrible? Also how they will do such bitcoin earning method if they are lacked of devices?

And more importantly, how they can use their bitcoin if no exchanger that has a convertion services is not available since I think no exchanger will opened services for poor countries due to lack of accessibility.

Yeap, the internet connection must be a giant problem. I'm thinking about how the bitcoin or a altcoin can bring more tecnology to this countries, but I still don't know.



Thank you all for the replys

royalpalm
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September 01, 2016, 08:44:12 AM
 #20

Bitcoin can't help an entire country. but it can surely help the person who use bitcoin if he's poor. and if a country have a lot of bitcoin users then it will surely be beneficial and for that country.
bitcoin need some contribution. if you contribute with bitcoin and crypto currencies . they will reward you for sure. but if you think bitcoin should give you fortune without doing anything just because you are a poor person then keep dreaming.

You are correct, dude. Btc can help and improve poor people, in Africa, Asian countries. They can make bitcoin by solving captcha, posting and do social campaign. Although the money is not a lot, it still can help to improve their life.
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