Bitcoin to 3rd world countries

[Klestar]

What do you think is the future of bitcoin to these kind of countries which is the poor ones ?
Is bitcoin can be useful for the citizens ?
What would be the government's approach to this kind of currency?

[1713481876]

1713481876

[13abyknight]

Bitcoin could mean a lot to third world countries in terms of growth and development. I don't think the citizens of those countries would necessarily need to be using Bitcoins as we're talking about countries that can't provide full accessibility i.e proper internet services. Central banks of these countries can invest a part of their reserves into Bitcoin and taking it out a few years later would give them more money (that is if Bitcoin grows) instead of traditional USD margin.

[Thekool1s]

Well by 'poor' if you mean the lower working class, then they are still a decade or 2 away from using cryptos in their daily lives, The problem is the infrastructure and education. Most lower class people don't even know how to use a smartphone yet alone a crypto-wallet. The cryptos can help their living standards imo. As for the middle and upper classes they are already involved in mining and 'investing' in the cryptos. I know this, cuz one of my friend is running his own mining farm. As far as 'usefulness' is concerned, it will be as useful as it will be in the first world countries. I can't imagine if it will serve the people less or more just because its in a different part of the world. Bitcoin is borderless it will be as useful in USA as it will be in Germany. As for your last question, it is a tricky one. Most government officials are corrupt, bitcoin and other crpytos are a safe haven for them but it will only worsen the countries economy if the ordinary joe starts to use them. So the governments will always be against the cryptos.

[Pursuer]

What do you think is the future of bitcoin to these kind of countries which is the poor ones ?
Is bitcoin can be useful for the citizens ?

of course it is useful for them.
the obvious thing is the profit that they are getting from investing in bitcoin. you can see how big bitcoin has grown and continues to get and that is helpful for people who want to invest their money in something easily and make a lot of money.

and apart from that if the fees come down like the last 9 years, bitcoin as a currency has a lot of usage for them to purchase stuff from the internet and even get big discounts for it.

What would be the government's approach to this kind of currency?

just because a country is considered under developed, their government approach doesn't have to be different.

[goaldigger]

Honestly, i live in a third world country and bitcoin really helps me a lot. Bitcoin is more like a personal matter so in order for a third world country to adopt, its people should first have a bitcoin accouny. If this happen , then bitcoin will affect the country whether the value will go up or down.

[rickyNmorty]

Bitcoin will be a lot useful to that kind of country but that does not mean that all people living on that country are poor, example would be our country which is Philippines, Ph is underdeveloped country but there are wealthy people here and lots of investors. Person who will be having this coin is the higher class ones , than the poor because bitcoin has a high value some cant get ride the flow and only some will can.

[ardyology]

I am living in a 3rd world country and Bitcoin kind of give me this same and equal rights rewarded by a single investment alongside other investors. For over a year, Bitcoin has transformed my life into something I could not imagine. It brought me a realization that I could do something for my life this time. It has helped me set my short, mid and long term goals which motivates me to keep going everyday. I love how Bitcoin is changing a person's life.

[lisikewell]

I think the government will certainly not allow the existence of bitcoin, after all, it can not control.
       Bitcoin has changed our life, let us have the goal of striving to a better life.

[kojoannan]

Bitcoins in the third world or developing countries will be like a mirage for a long period of time. As internet took several years to be embraced by countries like Africa countries so will bitcoins be. For their government to regulate it will be ineffective as developed states are even finding it hard to regulate bitcoins.

[RobertoMakeli]

What do you think is the future of bitcoin to these kind of countries which is the poor ones ?
Is bitcoin can be useful for the citizens ?
What would be the government's approach to this kind of currency?

I think bitcoin could possible replace by other altcoin look like ethereum for example but in very far far future within 20,30 years next

[jseverson]

It likely won't be as popular in poor countries because they tend to have poor infrastructure. There won't be as many people with internet access, and there would be even less people with enough disposable income to actually experiment with Bitcoin. That doesn't mean it can't propagate though, as there are also more people looking for extra income, so Bitcoin could be popular as an investment.

Citizens of countries with failing economies can use Bitcoin as a shield though, as demonstrated by the people of Venezuela. It has real utility to those who don't trust their economies anymore.

As for the government's approach to Bitcoin's regulation, I honestly don't think it has anything to do with the wealth of the nation. However, totalitarian countries are more likely to repress it, and it just so happens they tend to be on the poorer side of the spectrum, so there still may be a correlation there.

[oseikuf44]

Bitcoin is not new in third world countries. They do trade in bitcoins too. There are huge exchange and market for bitcoin in south Africa, Nigeria, Ghana and Bennin. Their government don't have any issues with them using bitcoins for their activities.

[mdripon]

Many people bitcoin use even now many country accept bitcoin. so we hope that, 3rd world increase bitcoin user and successfully. because small countries will be able to use internet properly.

[talkbitcoin]

i believe people in the third world countries actually appreciate bitcoin a lot more than others like people in developed countries. you may see a lot more adoption in the developed countries and a lot of businesses there but there will surely be a lot more users in third world countries who have adopted bitcoin.

for example in countries like India you can see how the people are struggling with their economical state and the government. they have been investing in bitcoin more than anybody else the price over there is showing this clearly.

[onnz423]

Honestly, I think bitcoin could be a method to equalize third world economies with those of first world countries. Government corruption, unequal distribution of wealth and civil unrest make earning a good living difficult in many economically disparaged countries. However, these countries also tend to lack proper access to the internet, and also tend to have unreliable power grids, meaning though bitcoin could potentially take the control of the economy out of the governments hands, it would take government intervention to improve the power and internet networks to properly utilize it, this is something unlikely to happen soon, if ever.

[louie69]

Honestly, I think bitcoin could be a method to equalize third world economies with those of first world countries. Government corruption, unequal distribution of wealth and civil unrest make earning a good living difficult in many economically disparaged countries. However, these countries also tend to lack proper access to the internet, and also tend to have unreliable power grids, meaning though bitcoin could potentially take the control of the economy out of the governments hands, it would take government intervention to improve the power and internet networks to properly utilize it, this is something unlikely to happen soon, if ever.

In our country, bitcoin is already popular wherein it has been recognized as an acceptable currency wherein you can be able to cash it out. Like coins.ph, you may able to do your payment transactions on your bills and cash out your bitcoin savings. Many people here are inclined to joined typically in the bitcoin forum where you have the chance to earn and invest to gain more profit as well.

[Turkish88]

In 3rd world countries one of the big problem is cashing out bitcoins.
But have good situation also government absolutely not control cryptocurrency

[drunkcoin]

Bitcoin or any other crypto is useless for poor countries for several reasons:
1) there is no infrastructure for that
2) most people don't have computers and stable internet connection to run transactions
3) citizens of such countries may have no idea what crypto is, because they've got bigger problems

[Windbeard]

Most likely the future of bitcoin in the third world countries is not, because they do not have sufficient technology and resources.

[Whiteconjuror]

Bitcoins are the currency of the future, so it will be available in third world countries.