impacts off cryptocurrency

[newwest]

As far the as 3rd world country is concerned i think it wont affect them much since they are still striving to get their economy up and compete with other countries, bitcoin is not their priority in life as of the moment.

Well bitcoin for this countries can actually help them as their people who do not have jobs, good standard of living can help themselves through bitcoin and other cypto currencies. They can invest in this coins and as the price keep rising they can earns profits and which can help them to support their family and government through paying taxes. Its an ideal situation for both the country and their citizens.

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[expless]

As far as being a currency is involved, I can say that crypto currency has a huge impact when it comes to financial, it can help us to have more income, depending on how we do it, whether trading, working or investing on cryptocurrency. There is also an impact to technology, since block chain technology is innovative, we can see a lot of people using block chain technology as well. There will be pros and cons of cryptocurrencies, but it is much better to try it than ignore it and have FOMO in the future.

Right. It is just a two way thing. The people benefit a lot from it as they can easily earn as long as they are not lazy from anywhere in the world without any limitations to getting paid, or any international barrier and then in conversion to fiat, the government gets their share of the cut. It has really helped economically in both ways which is one great impact the evolution that brought about cryptocurrency has brought.

[mriansa]

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

the impact of cryptocurrency is possible in terms of finances and the surrounding community, a lot of cryptocurrency players like bitcoin who were originally just ordinary people and can not afford now can become rich. so the big impact is their finances.

[freaker]

Impacts of cryptocurrency is majorly seen as that people now are more attracted by the feature of blockchain and are integrating their system to use it in their company. It will be highly beneficial in the coming days and one can expect that block chain becoming important part of the system. Also, after cryptocurrency users have got a new way to invest their money.

[Isaak Bitcoin]

Poor countries will remain poor, as the backlog from civilization will increase. And economically developed countries (for example, Japan) will improve their economies and financial system. Blockchain technology is like electricity, which replaced steam engines in the early 20th century.

[nethan1btc]

Impacts of cryptocurrency is majorly seen as that people now are more attracted by the feature of blockchain and are integrating their system to use it in their company. It will be highly beneficial in the coming days and one can expect that block chain becoming important part of the system. Also, after cryptocurrency users have got a new way to invest their money.

In my thought the big impact of crypto currency into a world society especially in third word country which can help people's to earn money in just make understand what is crypto especially here bitcoin. But sad to say only tech-savvy people can only get benefits on this. Because  they are only can fully understand how the crypto run and how to make profits with it. Like doing mining, trading,investing and joined in a bounty campaign here bitcoin forum.

[palle11]

Poor countries will remain poor, as the backlog from civilization will increase. And economically developed countries (for example, Japan) will improve their economies and financial system. Blockchain technology is like electricity, which replaced steam engines in the early 20th century.

On the contrary, I have a distinct view on what bitcoin and cryptocurrencies would do for "poor " countries .I do believe that rather than bitcoin being a disadvantage to them, it would rather help them in various ways. For instance, it will help their economy if they invested and hold.

Further to this, it will help the individuals who buy into the innovation brought by blickchain and bitcoin. It will off course make them richer because of the value of exchange to their fiat which inturn, help the community and people who would need help from the local investors.

[Sled]

It has a really huge effect on the lives of the people who embraced the cryptocurrency because with the cryptocurrency they can just earn money at their home without going out and finding a job. It also changes their social life because they are now isolate since they are working in their home and there is no one that they interact socially.

[nl247]

Poor countries will remain poor, as the backlog from civilization will increase. And economically developed countries (for example, Japan) will improve their economies and financial system. Blockchain technology is like electricity, which replaced steam engines in the early 20th century.

On the contrary, I have a distinct view on what bitcoin and cryptocurrencies would do for "poor " countries .I do believe that rather than bitcoin being a disadvantage to them, it would rather help them in various ways. For instance, it will help their economy if they invested and hold.

Further to this, it will help the individuals who buy into the innovation brought by blickchain and bitcoin. It will off course make them richer because of the value of exchange to their fiat which inturn, help the community and people who would need help from the local investors.

Sure, it would help them, but that is if they even have the technology to access it or if their country is really willing to embrace it and create awareness for them. It is normal that anyone who can find a way they can embrace the technology and find areas they can help themselves out will definitely end up changing their status in the long run, but we have to look at the aspect that most of these countries do not even have that infrastructure in place except few of the rich ones in government who have been ridding the normal masses anyway.

[caldero]

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

Economic impact is a small redistribution of wealth as some people get lucky and hit it big, however on the wider economy it does very little. It's a useful tool but doesn't really change much in terms of economic efficiency, at least not yet. There are some promising developments that are coming though but crypto is more of a tool to guarantee freedom than one to stimulate the economy.

[Kenassi]

A crypto world maybe? Looks unreal, but Internet also very young and we all are using him

[aencarnaci]

Impacts of cryptocurrency is majorly seen as that people now are more attracted by the feature of blockchain and are integrating their system to use it in their company. It will be highly beneficial in the coming days and one can expect that block chain becoming important part of the system. Also, after cryptocurrency users have got a new way to invest their money.

It is one thing to try to save your money in the past, and the banks even cutting out of it for some fees of some bullshit you did not ask for and it is another thing to save your funds in your own wallet with some high security and then get the value to keep increasing every now and then and in the long run keep doing pretty well for yourself.

A lot of impact I guess and it depends on those who are willing to grab the opportunity they have now before bitcoin ends up booming a lot.

[streazight]

As far the as 3rd world country is concerned i think it wont affect them much since they are still striving to get their economy up and compete with other countries, bitcoin is not their priority in life as of the moment.

Well bitcoin for this countries can actually help them as their people who do not have jobs, good standard of living can help themselves through bitcoin and other cypto currencies. They can invest in this coins and as the price keep rising they can earns profits and which can help them to support their family and government through paying taxes. Its an ideal situation for both the country and their citizens.

I remembered few days ago when a cousin of mine finished from school and was not able to obtain a job, I pretty much told him to build some skills in the I.T area and start some freelance now that it is easy to work and get paid in bitcoins. He is doing pretty well for himself now and saving a whole lot to diversify into his business offline. The truth is for those who can take the opportunity, there is a lot of impact they can positively get rather than waiting for the government that does not even care about them.

[bitkanu]

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

Economic impact is a small redistribution of wealth as some people get lucky and hit it big, however on the wider economy it does very little. It's a useful tool but doesn't really change much in terms of economic efficiency, at least not yet. There are some promising developments that are coming though but crypto is more of a tool to guarantee freedom than one to stimulate the economy.

Can't agree more, the people who lucky enough to hit it big is just a little part of the cryptocurrency community, the other's still struggling or even losing their money because mainly it's the redistribution of wealth, could create a gap between rich and poor, also the money circulating will be the same but with just the ownership of all these money will always changing.

[Manc89]

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

Cryptocurrency is all about social economy and it help people more in economy life rather social.
If we talk about cryptocurrency , first thing is we have to have internet. If the no internet how it can affect the economy if it is not in touch?

[yndye]

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

Cryptocurrency has been a big help for people living in third world countries because wages are low that's why finding a second source of income is not new and earning in cryptocurrencies is a good option to do so. Doing the signature campaigns and other campaigns may not be that much for those developed countries but for those living in third world, it is a big help because it can supplement their income.

There are students who were able to study without their parents financial support because they are already earning for themselves and those that are having day jobs have another source of income which is a big help to pay the bills. Those who are unemployed were able to find have an income and others even consider it as their full time job now because income from earning bitcoin is bigger than the income they earn from day jobs. Internet may be a problem but for the people who are willing to do something, there would always be a way.

[ngacengan]

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

the effects of cryptocurrencies such as bitcoin and altcoin might be easier for the world to carry money anywhere with a smartphone to buy and pay for anything using bitcoins.

[alexsandria]

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

There are many impact of cryptocurrency to us. The main is that cryptocurrency makes every people more affresive and this digital money was the one who lead us because we want to earn good and become rich. Yes, there are also many posotive effect but as well as the negative effect of bitcoin today.

[cizatext]

When you say impact what aspect do you mean, because impact can either be negative or positive. But since you did not specified let me outline some of the positive and the negative impacts of cryptocurrencies on the economy of any country most especially the 3rd world countries.
1. Bitcoin/cryptocurrencies if properly managed and control it can lead to economic transformation and boom of any country.
2.cryptocurrencies can eas the financial transactions of a country, making sending and receiving money easy.
3. It help to provide financial help to the unemployed youths and providing part time job for the youths and even the elderly.
And it negative impacts are as follows
1. Cryptocurrencies can lead to inflation if not properly managed
2. Cryptocurrencies can be use as a tool for money laundering by corrupt political office holders.

[JCO05]

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

the impact i think is that more people are now interested to bitcoin because of the profit that they are getting from it. Some people are leaving their jobs just to focus im Bitcoin because they believe that the income that they will get is bigger than their jobs' salary which I think is true in some instances.