Can Bitcoin help poor countries?

[1Referee]

if poor countries set up big mining farms, they can make big profit from bitcoin

I can't see governments of poor countries jump into Bitcoin by setting up entire mining farms. It will be wealthy individuals in these countries, or investors from abroad that might get to set up mining farms if they find it to be cheaper than going for China to set up everything. If you consider that poor countries have a very poor power network, where power outages are a frequent occurrence, then it's not a very interesting option for them. Don't forget that a lot of these poor countries are not very Bitcoin friendly either. Another negative point that any serious investor is taking in mind.

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[lionheart78]

if poor countries set up big mining farms, they can make big profit from bitcoin

I can't see governments of poor countries jump into Bitcoin by setting up entire mining farms. It will be wealthy individuals in these countries, or investors from abroad that might get to set up mining farms if they find it to be cheaper than going for China to set up everything. If you consider that poor countries have a very poor power network, where power outages are a frequent occurrence, then it's not a very interesting option for them. Don't forget that a lot of these poor countries are not very Bitcoin friendly either. Another negative point that any serious investor is taking in mind.

Setting up mining farm is not only way to get bitcoin, there are other way such as setting up a freelancing sites that caters unemployed talented bachelors and give them an option to choose between local currency or bitcoin but charge employer with bitcoins.  This does not require a big fund but a good contacts which the government has.

[1Referee]

if poor countries set up big mining farms, they can make big profit from bitcoin

I can't see governments of poor countries jump into Bitcoin by setting up entire mining farms. It will be wealthy individuals in these countries, or investors from abroad that might get to set up mining farms if they find it to be cheaper than going for China to set up everything. If you consider that poor countries have a very poor power network, where power outages are a frequent occurrence, then it's not a very interesting option for them. Don't forget that a lot of these poor countries are not very Bitcoin friendly either. Another negative point that any serious investor is taking in mind.

Setting up mining farm is not only way to get bitcoin, there are other way such as setting up a freelancing sites that caters unemployed talented bachelors and give them an option to choose between local currency or bitcoin but charge employer with bitcoins.  This does not require a big fund but a good contacts which the government has.

I know it's not the only way. I was just responding to the quoted part in my post, nothing more. I hear people always talking about people can offer their skills or services to the public and then earn money. But what about the people that don't have any skills? What about people that don't have regular access to the internet? What about people that are stuck to their 10 hour job where they work 7 days a week just to feed their family? They won't benefit from freelancer sites and all that. Take in mind that these people are the far majority in these countries.

[hulla]

in my own opinion i really don't think it can help the poor country because this is not just the normal currency they know and most of them are not computer literate so it will be very difficult for them to understand you maybe for those who will want to learn about bitcoin.  

I disagree with you mate cos almost every individual in the poor countries will love to try new thing which will bring them money. Though, it won't be easy to teach them how to operate a computer but the thirst of survive will make them break through.

But according to brian the poor people are not in the position that they afford computer so they are not able to access the computer. The thirst is from the beginning in their hearts to earn money to survive but they need someone support to get access to computer and internet connection.

Yes and that what I'm trying to point here cos an organisation must be setup, an organisation which will provide all the requirement the poor countries needed in other to start making money through bitcoin.

If these poor countries as really poor then those people can not access bitcoin because they would need internet access to do that and a device to do that ain't free last time I checked.

That's correct. But I heard facebook people did an internet which was on space and can be access everywhere in the world with that they can do a form of bilateral trade which will help the poor countries have access to the internet.

[n0ne]

if poor countries set up big mining farms, they can make big profit from bitcoin

I can't see governments of poor countries jump into Bitcoin by setting up entire mining farms. It will be wealthy individuals in these countries, or investors from abroad that might get to set up mining farms if they find it to be cheaper than going for China to set up everything. If you consider that poor countries have a very poor power network, where power outages are a frequent occurrence, then it's not a very interesting option for them. Don't forget that a lot of these poor countries are not very Bitcoin friendly either. Another negative point that any serious investor is taking in mind.

Setting up mining farm is not only way to get bitcoin, there are other way such as setting up a freelancing sites that caters unemployed talented bachelors and give them an option to choose between local currency or bitcoin but charge employer with bitcoins.  This does not require a big fund but a good contacts which the government has.

That's a good plan to make a better living standard to the unemployed group through mining farms. These mining farms are quite expensive to set up, if planned to provide employment for a good number of technically skilled group of users. If governments authorises then even with government funding things can be made much better.

[lionheart78]

if poor countries set up big mining farms, they can make big profit from bitcoin

I can't see governments of poor countries jump into Bitcoin by setting up entire mining farms. It will be wealthy individuals in these countries, or investors from abroad that might get to set up mining farms if they find it to be cheaper than going for China to set up everything. If you consider that poor countries have a very poor power network, where power outages are a frequent occurrence, then it's not a very interesting option for them. Don't forget that a lot of these poor countries are not very Bitcoin friendly either. Another negative point that any serious investor is taking in mind.

Setting up mining farm is not only way to get bitcoin, there are other way such as setting up a freelancing sites that caters unemployed talented bachelors and give them an option to choose between local currency or bitcoin but charge employer with bitcoins.  This does not require a big fund but a good contacts which the government has.

I know it's not the only way. I was just responding to the quoted part in my post, nothing more. I hear people always talking about people can offer their skills or services to the public and then earn money. But what about the people that don't have any skills? What about people that don't have regular access to the internet? What about people that are stuck to their 10 hour job where they work 7 days a week just to feed their family? They won't benefit from freelancer sites and all that. Take in mind that these people are the far majority in these countries.

Since you know more, I know you have answers to your questions, but then I can share my idea with regards the issue you brought up.  the one i said is making use of one sectors capability.  To those that are unable to access internet and don't have the knowlege to use internet and personal computer , the government can make use of their personal skills like handicraft making and  related jobs that does need internet.  Remember in this setup government serve as the middle man between the employee and employers / sellers and buyers.  To those who have regular jobs, let them do their work, because they already self sufficient and contributing to the country thru their income taxes .  If you have more idea that you want to share, why not share it here.  Rather than asking questions that you already know the answer.

[mrkevio]

India is the best example right now for this thread. A lot of people got their gold and money seized because they had no proof of where the money comes from. Bitcoin might help some because they can buy Bitcoin with the money they own, but what will they do with it after that..? I guess they will ban Bitcoin too, I mean now you're not allowed there to own gold, you're not allowed to own old money, the new bank notes.. I guess over half of the population is now poor. Bitcoin cannot help a country in which the technology isn't even advanced enough and not many people can afford paying their electricity bills.

[butcherboss]

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

Well Bitcoin is not created for really poor countries where the basic requirements are lacking, since bitcoin requires knowledge of computer and having access to computer and internet in a really poor country does not seem possible. Even if they get access to bitcoins where will they spend it?

[serjent05]

India is the best example right now for this thread. A lot of people got their gold and money seized because they had no proof of where the money comes from. Bitcoin might help some because they can buy Bitcoin with the money they own, but what will they do with it after that..? I guess they will ban Bitcoin too, I mean now you're not allowed there to own gold, you're not allowed to own old money, the new bank notes.. I guess over half of the population is now poor. Bitcoin cannot help a country in which the technology isn't even advanced enough and not many people can afford paying their electricity bills.

Actually it is the government that can help the country not some tools or gadgets.  Ther are all subject to peoples manipulation or usage.  If the government take the advantage of the opportunity that goes along with bitcoins then they can capitalize it to  help their people but if they refuse bitcoin then I agree that bitcoin will never help this country.  A single person  helped by bitcoin does not reflect the whole country.

[CyberKuro]

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

I ever read about it, digital currency could change economics of the poor countries. Especially bitcoin which is regardless of inflation like fiat money and the price could support financial of the country. To adopt bitcoin as official currency of the country not so easy in the beginning of course, it need big step to run it properly, but I think they can do it if they want to change without the intervention of other countries.

[OrangeII]

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

Well Bitcoin is not created for really poor countries where the basic requirements are lacking, since bitcoin requires knowledge of computer and having access to computer and internet in a really poor country does not seem possible. Even if they get access to bitcoins where will they spend it?

Well, I feel bitcoin made without the specific aim of helping poor countries. but, I feel that bitcoin is able to make a poor country for the better, as long as people are able to use computers and the internet as normal. Well, if they have it, perhaps with consciousness, they can change for the better.

[Daniel91]

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

I ever read about it, digital currency could change economics of the poor countries. Especially bitcoin which is regardless of inflation like fiat money and the price could support financial of the country. To adopt bitcoin as official currency of the country not so easy in the beginning of course, it need big step to run it properly, but I think they can do it if they want to change without the intervention of other countries.

The poor countries should first develop their infrastructure, educational system, food distribution, availability of electricity, water, Internet etc.
Only after that, they can think or start to plan how to use Bitcoin.
In my opinion, such countries don't have full political, financial or economic freedom, so I don't think that they can accept Bitcoin, completely independent from other countries.
Any way, such countries have other priorities now to solve, and Bitcoin is surely not on their ''to do'' list.

[FaucetRank.com]

India is the best example right now for this thread. A lot of people got their gold and money seized because they had no proof of where the money comes from. Bitcoin might help some because they can buy Bitcoin with the money they own, but what will they do with it after that..? I guess they will ban Bitcoin too, I mean now you're not allowed there to own gold, you're not allowed to own old money, the new bank notes.. I guess over half of the population is now poor. Bitcoin cannot help a country in which the technology isn't even advanced enough and not many people can afford paying their electricity bills.

You are wrong Government of India is not going to Ban Bitcoin because Bitcoin is not sold for cash in India so if the people want to buy Bitcoin with cash or Gold than it is not possible. To buy bitcoin India you have to do banking transaction you have to deposit your undisclosed money in Bank first and if you deposit into bank than government easily can catch you.
You are wrong too that India people are poor do you read news paper? when PM of India (before banning notes) gave a chance to black money holders to disclose their hidden money than many Vada Paav sellers disclosed crores of ruppes.

I accept that many people are poor in India but we are still doing better in whole Asia, we are not that much poor that you tried to explain in your words.

[Mastsetad]

India is the best example right now for this thread. A lot of people got their gold and money seized because they had no proof of where the money comes from. Bitcoin might help some because they can buy Bitcoin with the money they own, but what will they do with it after that..? I guess they will ban Bitcoin too, I mean now you're not allowed there to own gold, you're not allowed to own old money, the new bank notes.. I guess over half of the population is now poor. Bitcoin cannot help a country in which the technology isn't even advanced enough and not many people can afford paying their electricity bills.

Probably, bitcoin can only help a country if there are people able to afford and use technology as bitcoin is used only on internet and it does not have any physical existence, so if the people in a country are not even able to pay their electric bills then i wonder how they will use a technology like bitcoin.

[BitHodler]

India is the best example right now for this thread. A lot of people got their gold and money seized because they had no proof of where the money comes from. Bitcoin might help some because they can buy Bitcoin with the money they own, but what will they do with it after that..? I guess they will ban Bitcoin too, I mean now you're not allowed there to own gold, you're not allowed to own old money, the new bank notes.. I guess over half of the population is now poor. Bitcoin cannot help a country in which the technology isn't even advanced enough and not many people can afford paying their electricity bills.

Probably, bitcoin can only help a country if there are people able to afford and use technology as bitcoin is used only on internet and it does not have any physical existence, so if the people in a country are not even able to pay their electric bills then i wonder how they will use a technology like bitcoin.

Not only will people in poor countries depend on internet and a PC or whatever other device, but they also need certain initiatives that give people the opportunity to benefit from Bitcoin.

Without these initiatives offering people some sort of a platform where they can make use of Bitcoin, it will most likely not have any impact on people there.

In that aspect I am fairly sure that only a very few people that have enough knowledge and skills will benefit from Bitcoin. It won't reach the poorest people.

[blockman]

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

Well Bitcoin is not created for really poor countries where the basic requirements are lacking, since bitcoin requires knowledge of computer and having access to computer and internet in a really poor country does not seem possible. Even if they get access to bitcoins where will they spend it?

Well, I feel bitcoin made without the specific aim of helping poor countries. but, I feel that bitcoin is able to make a poor country for the better, as long as people are able to use computers and the internet as normal. Well, if they have it, perhaps with consciousness, they can change for the better.

It is simply created for all of us and the inventors of it doesn't really think that it can be used to help those poor countries. They are just aiming to help and make the transactions even faster and cheaper, and that's all. And for the poor countries, they should have some facilities first because they will get into bitcoins, because it is all about technology.

[ivan.daineko23]

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

Well Bitcoin is not created for really poor countries where the basic requirements are lacking, since bitcoin requires knowledge of computer and having access to computer and internet in a really poor country does not seem possible. Even if they get access to bitcoins where will they spend it?

Well, I feel bitcoin made without the specific aim of helping poor countries. but, I feel that bitcoin is able to make a poor country for the better, as long as people are able to use computers and the internet as normal. Well, if they have it, perhaps with consciousness, they can change for the better.

It is simply created for all of us and the inventors of it doesn't really think that it can be used to help those poor countries. They are just aiming to help and make the transactions even faster and cheaper, and that's all. And for the poor countries, they should have some facilities first because they will get into bitcoins, because it is all about technology.

High technology can save the situation in poor countries, but in the first place should be the formation of a good standard in the country in order to properly manage all of this.

[PokemonFun]

Bitcoin cant help to some countries it can help only to increase number of online donations to poor pupils maybe because of low fees and fsat transactions which are really fast and the best.

[Zadicar]

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

Well Bitcoin is not created for really poor countries where the basic requirements are lacking, since bitcoin requires knowledge of computer and having access to computer and internet in a really poor country does not seem possible. Even if they get access to bitcoins where will they spend it?

Well, I feel bitcoin made without the specific aim of helping poor countries. but, I feel that bitcoin is able to make a poor country for the better, as long as people are able to use computers and the internet as normal. Well, if they have it, perhaps with consciousness, they can change for the better.

It is simply created for all of us and the inventors of it doesn't really think that it can be used to help those poor countries. They are just aiming to help and make the transactions even faster and cheaper, and that's all. And for the poor countries, they should have some facilities first because they will get into bitcoins, because it is all about technology.

High technology can save the situation in poor countries, but in the first place should be the formation of a good standard in the country in order to properly manage all of this.

It would really need huge budget and it would really takes time before it would be implemented since we all know that learning up these things is not easy especially to poor people who are lack of knowledge in terms of technology on which they would really have a hard time to understand it directly.

[Victorycoin]

The poor countries should first develop their infrastructure, educational system, food distribution, availability of electricity, water, Internet etc.
Only after that, they can think or start to plan how to use Bitcoin.
In my opinion, such countries don't have full political, financial or economic freedom, so I don't think that they can accept Bitcoin, completely independent from other countries.
Any way, such countries have other priorities now to solve, and Bitcoin is surely not on their ''to do'' list.

I think the first thing would be for the rich countries to use their power and influence in exposing and helping to bring to book all those rulers from the poor countries, that have stacked their stolen wealth overseas. It stands to reason that, the plundering would have been minimal without the corporation of the rich countries. Just like IMF and World Bank, compels and monitor governments of some countries to implement their agreements, these things are possible if they put their legs down.

Leaving the poor countries to their fate and hoping someday, change would come is an illusion and takes the world further back to the stone age. What is the United Nations really all about in the first place - to mediate in wars that could have been avoided? Bitcoin is a pointer to probity and accountability and could check lots of loopholes those rouges use to siphon their country's wealth.