Is bitcoin a boom for debt ridden countries ?

[syberwolfen]

Do you think bitcoin will help debt ridden or poor countries to improve the standard of living and also will bitcoin help these countries to become financially stable if they adapt crypto currency ?

[1715612512]

1715612512

[maxamus]

Do you think bitcoin will help debt ridden or poor countries to improve the standard of living and also will bitcoin help these countries to become financially stable if they adapt crypto currency ?

Yes I feel so as those poor countries can adapt bitcoin as an alternative to their national currency or they can start their own version of crypto currency

[EcoChavCrypto]

Yes, but only if they addapt their financial system to cryptos, if they just want to run their own crypto by their own rules, they are going to fail one more time.

Do you think bitcoin will help debt ridden or poor countries

Venezuela wants to start their own cryptocurrency, but probably it will be a mess. It is going to be centralized and probably the only ones who are going to be available to buy that one, are going to be the people from there.

And you all know that most of the people from there does not even have a dollar, because they live a whole month with a dollar!!!!!!!!! Because of this the marketcap will stuck and it will never go up.

But if they allow other investors, then it can be taken more seriously, and i would invest in there too, only a few bucks

[Nerman]

Do you think bitcoin will help debt ridden or poor countries to improve the standard of living and also will bitcoin help these countries to become financially stable if they adapt crypto currency ?

No, although bitcoin will be able to help some people on this country, but remember that in a poor country not everyone has access to internet and gadgets. People like in Africa are worried on how they would buy their food on a daily basis.

Also poor countries usually have a corrupt government. Regardless of what type of currency they would adopt as long as corruption is not stop they will still remain poor and living conditions will still remain the same.

[asadsiddiqui]

I know Venezuela is in debt and the government is working to create a coin of this country. Crypto may become a new source of investment for difficult nations. The crypto market will increase dramatically.

[13abyknight]

Well if we're talking about underdeveloped nations here, they would be be finding it hard to provide their citizens with the basic things required to access Bitcoin : A computer/mobile phone and an internet connection. Then again, even if they succeed in this, it would be another big process of teaching the uneducated and underprivileged about Bitcoin and its mechanism.

[feelideb]

I think debt ridden Countries can save a lot for their Nation if they could adopt bitcoin. Huge money are been allocated to print fiat currency of which many of this countries has no capacity to do. This usually result in capital flight for their economy.

[francis2]

Do you think bitcoin will help debt ridden or poor countries to improve the standard of living and also will bitcoin help these countries to become financially stable if they adapt crypto currency ?

If anything bitcoin could make things worst since it could destroy the local currency since people are no longer going to hold it to save and instead they are going to hold bitcoin, eventually no one will want to hold that fiat and the economy could crash.

[palle11]

Do you think bitcoin will help debt ridden or poor countries to improve the standard of living and also will bitcoin help these countries to become financially stable if they adapt crypto currency ?

I think so and even to the citizens too. For instance, a poor country can invest on bitcoin and hold for a long time in expectation of an increase just as we are witnessing a very good run from bitcoin this year. That can actually help the country when recovered to fiat.

[7daystodie]

Do you think bitcoin will help debt ridden or poor countries to improve the standard of living and also will bitcoin help these countries to become financially stable if they adapt crypto currency ?

It will not help, it is nowhere official and what next, how they should repay loans to other countries. And their economy will only be further ruined and ransacked and will be even worse. Therefore, my unequivocal opinion will not help.

[cynical]

Yes, but only if they addapt their financial system to cryptos, if they just want to run their own crypto by their own rules, they are going to fail one more time.

Do you think bitcoin will help debt ridden or poor countries

Venezuela wants to start their own cryptocurrency, but probably it will be a mess. It is going to be centralized and probably the only ones who are going to be available to buy that one, are going to be the people from there.

And you all know that most of the people from there does not even have a dollar, because they live a whole month with a dollar!!!!!!!!! Because of this the marketcap will stuck and it will never go up.

But if they allow other investors, then it can be taken more seriously, and i would invest in there too, only a few bucks

I have also heard about venesuela possibly adopting a crypto currency.
If it is centralized i suspect the same type of management of their fiat will happen with their crypto.
governments are slow to relinquish control of finances.

[okala]

Do you think bitcoin will help debt ridden or poor countries to improve the standard of living and also will bitcoin help these countries to become financially stable if they adapt crypto currency ?

In reality, the only way third world country can break the hold of developed countries over their economic is through adoption of cryptocurrencies that will weaken the influence of dollars on they economy. Most of this debt country are in bondage of interest charge on loan they gotten from developed countries and that is what has destroy the power of the local currency.

[TravelMug]

Do you think bitcoin will help debt ridden or poor countries to improve the standard of living and also will bitcoin help these countries to become financially stable if they adapt crypto currency ?

No. Why would a country benefited from bitcoin. The one that will greatly benefited is their citizens only not the entire country. It will give their citizen purchasing power but since only few people have known bitcoin yet, it wouldn't put a significant dent of the economy of a country.

The only case study so far that benefited a country is in Venezuela and Zimbabwe. But that's different though. Both countries are in economic and political crisis. They are not debt ridden as what the question of the OP is.

[mk4]

Cryptocurrencies would be more beneficial to countries with higher local currency inflation rate like Venezuela. Storing their fiat into cryptocurrencies would probably help them fix the deflationary issue.

[RamonBTC]

Do you think bitcoin will help debt ridden or poor countries to improve the standard of living and also will bitcoin help these countries to become financially stable if they adapt crypto currency ?

Yes it will help a lot of its citizen if that country open they’re place for cryptocurrency. But this won’t have immediate effect, it takes time and adaptation must be radically promoted without hesitations. I’m leaving in a poor country but we’re improving now and maybe because with the help of bitcoin industry. As of now individual growth is much more obvious to bitcoin users and economically it soon be effective.

[Micerker]

Do you think bitcoin will help debt ridden or poor countries to improve the standard of living and also will bitcoin help these countries to become financially stable if they adapt crypto currency ?

No, this is not possible, in fact bitcoin as well as crypto cause high inflation  and as well as money laundering occurs more.

[francis2]

Yes, but only if they addapt their financial system to cryptos, if they just want to run their own crypto by their own rules, they are going to fail one more time.

Do you think bitcoin will help debt ridden or poor countries

Venezuela wants to start their own cryptocurrency, but probably it will be a mess. It is going to be centralized and probably the only ones who are going to be available to buy that one, are going to be the people from there.

And you all know that most of the people from there does not even have a dollar, because they live a whole month with a dollar!!!!!!!!! Because of this the marketcap will stuck and it will never go up.

But if they allow other investors, then it can be taken more seriously, and i would invest in there too, only a few bucks

Yeah, they do not understand that the reason for their failures is not someone else but themselves so if they create their own crypto they are going to fail once again and their economies are going to crash as a consequence of their mistakes.

[Coffee2015]

Do you think bitcoin will help debt ridden or poor countries to improve the standard of living and also will bitcoin help these countries to become financially stable if they adapt crypto currency ?

I agree there is possibility to make finance world better if Crypto is applied,
cost and fee can be reduced.

I ve been thingking to use crypto for commodity sale/business,
I made a sort of pre-ann to make this for real,
if anyone would like to join, we can make this real and even better

[nl247]

I think debt ridden Countries can save a lot for their Nation if they could adopt bitcoin. Huge money are been allocated to print fiat currency of which many of this countries has no capacity to do. This usually result in capital flight for their economy.

If they had been wise enough to adopt this from the start and look at how things turn out, since it would not require too much anyway, I am sure a lot of them would have been doing well by now. However, with the corrupt system, even some in the top position would have just pocketed the profits rather than remitting it into the government which is really why most of those corruption ridden countries will find it hard to develop no matter what.

[ivrynx]

Yes bitcoin is a boom for debt ridden countries. It will only need the right way on how they will use it, if we take a look at one of the giants in asia, like japan, they may be rich, but the value of their fiat is not that high, and using cryptocurrency will only help them to have more gains in the future, if.we take a look at it, even their banks had produced their own altcoin, it will take discipline from their people in order for it to be a success. We can all learn on how they do it, and if a country like japan sees that their will be more profit in the future, we can say that investing in bitcoin do help in getting a country out of debt, and we can also say the same with zimbabwe, considered to be one of the poorest country, what they only need is for all of its people to have access.