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Author Topic: bitcoin in developing countries  (Read 3012 times)
cutikanzilong
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April 27, 2018, 01:16:03 AM
 #1

at present, bitcoin is becoming known to people around the world, especially in developing countries. the majority of bitcoin is introduced through news on television and on the internet. Therefore people are starting to want to know what bitcoin is and if it appeals to them, they will invest instead?
Well the government should not be silent on bitcoin, they think bitcoin is disrupting economic stability and there will be inflation in the country.
Do you think that bitcoin will disrupt economic stability and there will be inflation due to bitcoin in a country?

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April 27, 2018, 06:10:00 AM
 #2

Firstly, the only thing that has always been causing inflation is the manipulated and monopolized Fiat system.

Secondly, bitcoin is a deflationary currency. So, I leave you to do the maths!
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April 27, 2018, 07:10:16 PM
 #3

Bitcoin has a good response in many country. Bitcoin will help those country to overcome their financial crisis and also help to built a strong economic in those countries. In central Africa country like Kenya, Zimbabwe etc taking the benefits from bitcoin through Bitpesa Wink. This app help them in their transaction and in many other thing also. Bitcoin mainly reduce the unemployment issue in those country by providing job in their country people.Bitcoin also provide its mining  help in those country to create their own Bitcoin. With the help of Bitcoin they can buy anything from Internet. Even those thing which are not sold in their country  Smiley

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mrtryonebiggums
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April 27, 2018, 08:28:26 PM
 #4

Firstly, the only thing that has always been causing inflation is the manipulated and monopolized Fiat system.

Secondly, bitcoin is a deflationary currency. So, I leave you to do the maths!
Quick mafs right Wink? True that the current Bitcoin system is deflationary but that doesn't mean it can't disrupt an economy. If enough of the economies money (% wise) goes into Bitcoin, you can be sure the economy will suffer, unless they begin to accept Bitcoin as a national tender. We don't want the whole world to use Bitcoin, not at least simultaneously that would cause a world wide economic collapse, instead you want the change to Bitcoin to be gradual and for it to be over a long period of time say 25-100 years.

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April 27, 2018, 08:42:47 PM
 #5

Firstly, the only thing that has always been causing inflation is the manipulated and monopolized Fiat system.

Secondly, bitcoin is a deflationary currency. So, I leave you to do the maths!
Quick mafs right Wink? True that the current Bitcoin system is deflationary but that doesn't mean it can't disrupt an economy. If enough of the economies money (% wise) goes into Bitcoin, you can be sure the economy will suffer, unless they begin to accept Bitcoin as a national tender. We don't want the whole world to use Bitcoin, not at least simultaneously that would cause a world wide economic collapse, instead you want the change to Bitcoin to be gradual and for it to be over a long period of time say 25-100 years.

I would think even poorest country's economies are much larger than a total crypto marketcap. And most developing countries would swallow it without noticing Smiley

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April 27, 2018, 08:47:53 PM
 #6

I think bitcoin will not distrupt economies because that transition from fiat money to crypto will not be so fast and also while this transition will be happening, there will be transition among institutions as well.

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April 27, 2018, 09:50:33 PM
 #7

Well the government should not be silent on bitcoin, they think bitcoin is disrupting economic stability and there will be inflation in the country.

Governments are against Bitcoin because it's a competitor to every Country-based currency...which is all of them! Of course they believe it'll bring economic instability...but what a government thinks isn't an objective opinion. We should all be focusing on what's best for us. And keeping our assets in a investments that will appreciate, that are known for appreciation, is the best move.


Do you think that bitcoin will disrupt economic stability and there will be inflation due to bitcoin in a country?

Bitcoin creates more competition in the economy and competition creates better opportunities for all of us.

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April 27, 2018, 10:06:09 PM
 #8

Inflation is the measure of price increase within a set of goods and services over a period of time. the main causes of inflation are either excess aggregate demand or cost push factors. how can bitcoin cause inflation? bitcoing can create better opportunities for us.
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April 27, 2018, 10:56:27 PM
 #9

Don't forget many developing nations are dominated by banks and governments who have exploitive monopolies there.

Here's an example. If you look at exchanges like https://golix.com in developing nations like africa, bitcoin typically sells at a much higher price than normal. The reasoning for this is electronic payment in those countries are riddled excessively high taxes, fees and costs. This puts more deregulated methods of electronic payment like bitcoin in high demand being that their fees are much lower and transactions are often faster. And so in countries like africa you have people willing to pay $13,000 for bitcoin as it is still cheaper than paying the taxes and fees of their normal banking system.

Part of the reason for bitcoin's success is it once allowed cuban immigrants to send money home to their families in cuba without paying the cuban governments ridiculous taxes and fees which could take 40% to 50% of wire transfers coming into the country. Bitcoin and crypto currencies have a good potential to improve the circumstances and living standards of those in developing nations, an integral and key part of its worldwide success.

Tenderino
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April 27, 2018, 11:03:32 PM
 #10

People in developing countries usually have less money available to spend and they will likely buy low priced coins from interesting and really needed ICO projects, rather than paying $9,000 for one coin!

I have no doubt that a higher usage of bitcoin will disrupt economic stability, because the government will collect less taxes and this could indeed lead to an inflation for the fiat money, because the fiat money holders finance the state budget of a country.
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April 27, 2018, 11:10:14 PM
 #11

at present, bitcoin is becoming known to people around the world, especially in developing countries. the majority of bitcoin is introduced through news on television and on the internet. Therefore people are starting to want to know what bitcoin is and if it appeals to them, they will invest instead?
Well the government should not be silent on bitcoin, they think bitcoin is disrupting economic stability and there will be inflation in the country.
Do you think that bitcoin will disrupt economic stability and there will be inflation due to bitcoin in a country?


if the people in developing countries have much money and try to invest the bitcoin, I think it can help them to get alot benefit. it is my opinion.
bettercrypto
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April 27, 2018, 11:20:18 PM
 #12

Firstly, the only thing that has always been causing inflation is the manipulated and monopolized Fiat system.

Secondly, bitcoin is a deflationary currency. So, I leave you to do the maths!
As far as I know, inflation happens when the purchasing power of the people are greater than the supply. It means, if the people has high purchasing power, there is also a greater demand. We have limited resources only and if the supply will deplete, prices hike.
Based from my definition, I can say that inflation is applicable in bitcoin. Bitcoin is also currency and I think it will cause inflation but not in a rapid manner as what happened in dollar.

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April 27, 2018, 11:54:23 PM
 #13

at present, bitcoin is becoming known to people around the world, especially in developing countries. the majority of bitcoin is introduced through news on television and on the internet. Therefore people are starting to want to know what bitcoin is and if it appeals to them, they will invest instead?
Well the government should not be silent on bitcoin, they think bitcoin is disrupting economic stability and there will be inflation in the country.
Do you think that bitcoin will disrupt economic stability and there will be inflation due to bitcoin in a country?

Bitcoin doesn't disrupt the economic stability but instead it helps increase the economic growth. Why? Because it provides income to the people, parents can finance there children's education and many more. That is why bitcoin is good for the economy.

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April 27, 2018, 11:56:59 PM
 #14

I think criptocurrency will not affect a country's economy thus will help improve the economy of communities in search of revenue, such as in my country criptocurrency very influential to economics not here however it is some banks that have yet to understand a little bit of fear that criptocurrency will have an effect on their system.
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April 28, 2018, 01:18:21 AM
 #15

at present, bitcoin is becoming known to people around the world, especially in developing countries. the majority of bitcoin is introduced through news on television and on the internet. Therefore people are starting to want to know what bitcoin is and if it appeals to them, they will invest instead?
Well the government should not be silent on bitcoin, they think bitcoin is disrupting economic stability and there will be inflation in the country.
Do you think that bitcoin will disrupt economic stability and there will be inflation due to bitcoin in a country?

I think bitcoin affect economy of a country onve the government has a regulation of it. Because government has right to manipulate bitcoin investments. Well for me, bitcoin can increase the economy of a developing country because of its popularity.

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April 28, 2018, 02:52:21 AM
 #16

Inflation is due to the government printing too much money, they are monopolizing it, and it has nothing to do with bitcoin.
In fact, when a country has an inflation or financial crisis, the people begin to move from the currency that used to bitcoin, an example in Yunani and Venezuela a few years ago.
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April 28, 2018, 03:32:58 AM
 #17

Bad policies of government causes inflation not the currency. Bitcoin as seen as a currency therefore cannot be a cause for inflation in a country. Two things will hinder wide acceptance of bitcoin in developing countries : 1. Knowledge of computer. Since bitcoin is digital money, it is only computer literates that can freely use it. 2. Availability of internet. In most developing countries, internet is expensive. So these two factors will limit the acceptance of bitcoin in such countries.



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April 28, 2018, 03:52:31 AM
 #18

Most governments have never been in support of bitcoin not because is disrupting any economy or so, they just don't want most people to gain financial freedom like most people do. This statement is just one of their many FUD statements that makes newbies who know nothing about bitcoin but believe everything the government says. Most times , one just has to learn to ignore whatever negative statement the government says about bitcoin.
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April 28, 2018, 04:41:41 AM
 #19

at present, bitcoin is becoming known to people around the world, especially in developing countries. the majority of bitcoin is introduced through news on television and on the internet. Therefore people are starting to want to know what bitcoin is and if it appeals to them, they will invest instead?
Well the government should not be silent on bitcoin, they think bitcoin is disrupting economic stability and there will be inflation in the country.
Do you think that bitcoin will disrupt economic stability and there will be inflation due to bitcoin in a country?

Be honest with yourself. Bitcoin will not be used by people in developing countries in a manner that will move their lives forward by developing tools for it. Its the way it has always been. All they will do with it is buy and hold as an investment, which they should because the price might go higher. But it will not disrupt economic stability if it is being used that way.

I dont think you know what inflation means. Explain why BTC can cause inflation in a country.

https://www.burst-coin.org/proof-of-capacity - Ensuring Maximum Fairness And Trivial Energy Consumption
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April 28, 2018, 04:52:47 AM
 #20

Bitcoin is getting known in really big countries now a days because of its popularity people indulging themselves to the most popular thing on earth but to be honest we are not yet on the quarter part of those people who uses money on earth, but still despite of the declining value of btc we are still surviving and managing to turn the tag on green in many times.
To be honest in some countries which called "developing" uses bitcoin to scam others who were innocent on using them which makes other bother to invest on to it. And so far bitcoin did not give any marks of affecting in economic growth on one country.
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