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Author Topic: Why most bitcoin users from good economies countries?  (Read 3790 times)
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October 30, 2017, 03:51:18 PM
 #1

We can not deny the big country with good economy, it will make the society economy better too.
So they can follow the economic development and participate in transactions and investments in Bitcoin era.
How the people of small countries can participate in participation and benefit from it?
It would be very difficult to calculate the statistics of users of each country, but the comparison of Bitcoin ATM growth from this early 2017 report can be the initial reference of the statistics.
Perhaps by the end of this year, there will be more Bitcoin ATM growth across the board due to the growing interest in bitcoin this year.


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October 30, 2017, 04:41:29 PM
 #2

You don't expect people from poor countries where they don't have something to eat to care about bitcoin. Do you? The ATMs also means nothing If we take china for example, they were dominating the market but almost no ATM there, same thing applies for Korea and Japan. Germany comes just after the U.S when it comes to the Darknet illegal drugs listings where bitcoin is being used so why not ATMs? It's because of the regulations. I could list a few countries that you would consider as third world country ,have no ATMs, no exchanges and still have more bitcoiners then some of the countries you listed. In other words, the ATMs don't represent the user base at all.

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October 30, 2017, 04:56:51 PM
 #3

We can not deny the big country with good economy, it will make the society economy better too.
So they can follow the economic development and participate in transactions and investments in Bitcoin era.
How the people of small countries can participate in participation and benefit from it?
It would be very difficult to calculate the statistics of users of each country, but the comparison of Bitcoin ATM growth from this early 2017 report can be the initial reference of the statistics.
Perhaps by the end of this year, there will be more Bitcoin ATM growth across the board due to the growing interest in bitcoin this year.




Advanced countries don't only have the big economies but they also have the facilities to aid the penetration of bitcoin compare to several other countries and the reason why I think the United States is at the fore front is because of the amount of freedom its citizens enjoy no matter how they want to control it. Facilities that are lacking in some poor countries of the world are

1. Internet especially in third world countries is still a very scarce commodity and expensive one in which we all know that knowing about bitcoin alone is dependent on this essential commodity.

2. The level of education, in the advanced world, the literacy level of there is very much high where you will hardly see someone that didnt have any formal education  but down to the third world countries you are even unable to count the amount of population that does not even know that a computer exists.

3. Another issue of concern is adequate statistics which is something that the advanced countries have lacking in the third world countries.

Summing all the above together, I don't expect anything different in that statistics and for the third world countries, it only shows that there is a long way to go.

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October 30, 2017, 05:05:36 PM
 #4

You don't expect people from poor countries where they don't have something to eat to care about bitcoin. Do you? The ATMs also means nothing If we take china for example, they were dominating the market but almost no ATM there, same thing applies for Korea and Japan. Germany comes just after the U.S when it comes to the Darknet illegal drugs listings where bitcoin is being used so why not ATMs? It's because of the regulations. I could list a few countries that you would consider as third world country ,have no ATMs, no exchanges and still have more bitcoiners then some of the countries you listed. In other words, the ATMs don't represent the user base at all.
Some of those starvlings are right here on bitcointalk, spamming in their best attempt at English,
trying to earn money through airdrops, bounties, translations, and sig campaigns.   You've seen them,
because I've seen them.  It's sad and makes bitcointalk a madhouse, but it's the reality.  Do those users
actually care about bitcoin? Probably not.   They're content to spend it on gambling and rice.  But that's
Ok.  Bitcoin is a currency after all, and those underfed skinbags are using it as intended. The problem is
with the quality of their posts.   Since they don't care much about bitcoin, they don't have a lot to say and
don't have the linguistic capabilities to communicate properly.   What a world.
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October 30, 2017, 05:19:23 PM
 #5

Those countries able to harness the power of information and communication technology are reaping ever more benefits of blockchain technology and bitcoin.
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October 30, 2017, 05:56:14 PM
 #6

We can not deny the big country with good economy, it will make the society economy better too.
So they can follow the economic development and participate in transactions and investments in Bitcoin era.
How the people of small countries can participate in participation and benefit from it?
It would be very difficult to calculate the statistics of users of each country, but the comparison of Bitcoin ATM growth from this early 2017 report can be the initial reference of the statistics.
Perhaps by the end of this year, there will be more Bitcoin ATM growth across the board due to the growing interest in bitcoin this year.





Nice statistics, as I look into the graph most of them are belong in the 1st world country, I thinks its because they already have technology and people has the capacity to earn more than money that they need, unlike in the poor country they don't  have technology to support bitcoin the people is working for their survival and  instead of buying bitcoin, they choose to  a lot the money that they earn for their food.
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October 30, 2017, 05:59:44 PM
 #7

The undereveloped countries are also countries that have less or not many infrastructures to build and mine for example. Most of these countries users might also have loan debts, so they are in some way entangled with the banking systems. Some places you dont even get enough electricity, so how can you make an transaction of BTC? Unfortunately knowledge doesnt reach equally in this countries, because you see people with no, or less sources.

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October 30, 2017, 06:02:42 PM
 #8

You don't expect people from poor countries where they don't have something to eat to care about bitcoin. Do you?
I do expect them to care about Bitcoin, why? Because I know some people personally who were struggling in lower developed countries and they turned to Bitcoin because they wanted to make money. Jobs wasn't easy to get where they were from and if they did get a job the pay was less than miserable.  So instead he turned to mining Bitcoin I'm talking the days when it was able to be mined with GPU.

Of course he wasn't in dire straights, he had electricity and a roof over his head, but had a large family which was hard to accommodate. I think a lot of people will be interested from lower developed countries because it's a alternative income which maybe isn't pinned to the minimum wage of their country.

Maybe now it's harder for them to get into due to the price increase, especially from an investing point of view.

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October 30, 2017, 07:03:00 PM
 #9

We can not deny the big country with good economy, it will make the society economy better too.
So they can follow the economic development and participate in transactions and investments in Bitcoin era.
How the people of small countries can participate in participation and benefit from it?
It would be very difficult to calculate the statistics of users of each country, but the comparison of Bitcoin ATM growth from this early 2017 report can be the initial reference of the statistics.
Perhaps by the end of this year, there will be more Bitcoin ATM growth across the board due to the growing interest in bitcoin this year.




Bitcoin is an investment that capitalism introduced it to us. When we look at the graphic that you shared with us, you can see the most capitalist ones like USA or United Kingdom. So we can understand that bitcoin has a relation with countries that have good economies thanks to their economical methods. When you imagine a country that has low economical value, people in this country can not think bitcoin. We don't know if they have any internet connection. They worry about how to survive.

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October 30, 2017, 07:24:29 PM
 #10

The countries on that list are what most people would call 'first world countries' and they are highly developed nations with advanced technological infrastructure, they have the tools to support to create ATM Bitcoins everywhere.
On other hand, developing countries have way bigger problems than trying to incorporate BTC into society, starvation, lack of technological advacements, low economy, high rates of poverty and disease, etc. They would need to address these issues, and that could take decades, before they begin to discuss the possibility of incorporating Bitcoin.

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October 30, 2017, 08:27:25 PM
 #11

We can not deny the big country with good economy, it will make the society economy better too.
So they can follow the economic development and participate in transactions and investments in Bitcoin era.
How the people of small countries can participate in participation and benefit from it?
It would be very difficult to calculate the statistics of users of each country, but the comparison of Bitcoin ATM growth from this early 2017 report can be the initial reference of the statistics.
Perhaps by the end of this year, there will be more Bitcoin ATM growth across the board due to the growing interest in bitcoin this year.





First of all pal, this statistics(atm usage) report, isn't a reliable source. Mainly because a lot of countries that have a lot of peiple adopting to Bitcoins amd the whole crypto currency world doesn't all have these bitcoin ATMs. Because clearly, not a lot of governments support these great technologies (the cryoto currencies).

Economy, yes. That is also one of all the reasons. But also, materials amd a strong reliable internet connection really does play a big role in the crypto world. And no doubt, most of the countries out there do not have the privilege to have this. That is why we mostly see people from great economies use crypto currencies more than other people.

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October 30, 2017, 08:31:53 PM
 #12

It makes sense considering that people from high-income countries will have the extra money to put into high-risk investments. People from third world countries may pitch a few dollars into it hoping to get rich, hit up faucets, or use it as a wealth preservation method in desperate situations (like Venezuela).

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October 31, 2017, 02:43:54 AM
 #13

Bitcoin is a good investment that makes sense , to have good exchange rate from good economy countries. Many people would like to invest about bitcoin especially in asian countries because they can earn more by converting it to there own currency. USA and Canada, are top good economy countries thats why there currency is much more high value compare in asian currency ,having huge number of bitcoin  ATM. Bitcoin gives economic growth to each people wants an income in the society and each country as well.

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October 31, 2017, 02:49:19 AM
 #14

I think the longer the time, the people in the small countries or the people in the backward countries will join in. Compared with other currencies, bitcoin is fairly fair to them. People in economically developed countries are only more developed in information, so most of them join, but I think this is temporary.
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October 31, 2017, 03:05:37 AM
 #15

It's a fairly simple concept. People from richer countries have more disposable income they could use for investments or at their own leisure. It's somewhat easy for them to take a risk, while the reverse is true for people in developing countries. Even then, the number of users from these developing countries seem to be steadily growing. This is not something the Bitcoin community can address or help, as the problem lies within their economy and government.

I would be more interested in statistics of Bitcoin ATM use. I personally probably would only ever use one because of curiosity. Do people actually use them out of necessity, or is it more of a novelty? As others have said, I think it's a rather weak indication of the number of Bitcoin users in the area.

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October 31, 2017, 03:18:58 AM
 #16

I think most investors are from good economic countries, since they are open to the idea that the earnings we get should not be tax, and they accept bitcoin , since bitcoin can do it for them, and they are open in the idea that you just don't need a job to survive, however from countries that are underdevelop, they still believe in he old system, that is, having a job, you'll be secured for life, however it does have its consequences if your job, is your only source of income
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October 31, 2017, 03:20:41 AM
 #17

if ATM is your reference to bitcoin users in a country I think it's not right, china who has the largest bitcoin user in the world does not need bitcoin either, but the use of bitcoin ATM is also very good to facilitate access bitcoin use somewhere, hopefully every regions can have bitcoin ATM access.

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October 31, 2017, 04:26:11 AM
 #18

Most users of crypto currency are indeed from countries with a well-developed economy. This is absolutely natural, since in order to use the crypto currency you need a good Internet, appropriate technical devices, theoretical knowledge of the crypto currency, and certain practical skills. People with a weak economy and a low level of knowledge about the crypto currency can not afford this.

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October 31, 2017, 04:45:33 AM
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Because it underatand that there is a future of cryptocurrency which we are using now
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October 31, 2017, 09:10:01 AM
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I think the reason why most bitcoin users are from countries with good economies is not mainly because they have the infrastructures or because they have the money to invest in cryptocurrency. For me, the main reason is that they possess the power of knowledge and information and the 'how's' of bitcoin and other cryptocurrency. These knowledge and information is mainly supported by their money which makes it possible. If we think about it, even an undeveloped country will be able to progress and make mining and cryptocurrency profitable if only they have the information on how to do so. Without it, they will remain ignorant, not knowing that there are hundreds of possibilities offered by the cryptoworld.

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