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Author Topic: bitcoin in developing countries  (Read 2966 times)
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April 28, 2018, 05:17:40 AM
 #21

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.
okay I agree with your opinion. It is true that inflation occurs when the state creates too much money. And if it is possible in a country to happen inflation may be the community turning to bitcoin

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April 28, 2018, 05:26:36 AM
 #22

I think it is too early to think about it...There must be so much changes before we can consider crypto as a real danger for the economics now

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April 28, 2018, 05:28:28 AM
 #23

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 am living in a developing country and luckily the Philippines is very open with crypto currency. Our government actually recognized Bitcoin as a legitimate currency. Also one of our wallet (Coins.ph) is recognized by the Banko Sentral ng Pilipinas (Central Bank of the Philippines). With that wallet we can easily convert Bitcoin or Ethereum to FIAT (Philippine Peso) in an instant.

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April 28, 2018, 06:23:18 AM
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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 people adopts to the crypto currency then the country economy will face crisis because of inflation with their country's currency so governments need to regulate the usage to avoid serious crisis.But you know the adoption of bitcoin among the people is very very less when compared to total population so governments need to act quickly before it is getting too late.

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April 28, 2018, 09:10:43 AM
 #25

To be honest there are slightly chance that Bitcoin could disrupt the country's economic, if the government doesn't regulate crypto and the usage is too high then there will be a problem, the Bitcoin transaction couldn't be tax and the Fiat cash flow will be stuck and can caused inflation, there should be a balance to make Bitcoin able to be adopted in a country without disrupting the country's economic

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April 28, 2018, 11:08:48 AM
 #26

From one side of the negative, the state's doubts in assessing bitcoin are the existence of funds for terrorist activities, because bitcoin is p2p and real-time, so no one can know and track the funds submitted. we know, there are some countries that prohibit and provide taxes for bitcoin users. With the bitcoin, we are tax-free this is what the state feared because the state income assets are very hopeful of the tax. During this time Bitcoin transactions are often used for criminal activities, such as alleged terrorism, money laundering, or immoral actions. but now it is still considered and re-analyzed by government policy.

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April 28, 2018, 11:14:21 AM
 #27

I think bitcoin is a form of threat to the economy of a country that’s why these governments always make a big fuss about these cryptocurrencies. We will just wait and see what these developing countries are up to after these countries will accept bitcoin.

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April 28, 2018, 11:18:16 AM
 #28

as we know that bitcoin in my country is now growing faster than ever, because for me bitcoin is also a safe investment, so for them bitcoin is also very profitable in the future.
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April 28, 2018, 11:35:12 AM
 #29

It is a fact that bitcoin is spreading around developing countries. Yet, it still is not known by the majority of people. Perhaps that is the reason as to why these governments are silent about it because it is still not a threat to it. Added to that, these people are too poor to invest in bitcoin as well as they are ignorant about how to use the blockchain technology. It will take them so much time to adapt.



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April 28, 2018, 11:45:59 AM
 #30

Not really. First things first, if bitcoin overdoes anything in the future then I am pretty sure that it will get banned completely from the face of the earth. The fact of getting fiat replaced with the crypto currency has long gone now because bitcoin is growing with great speed and that is not being liked by the government itself. I am pretty sure on the fact that bitcoin will never ever bring the inflation to the national economy. Instead it could deflate considering its very decentralised nature.

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April 28, 2018, 11:57:10 AM
 #31

Bitcoin will not cause inflation. Bitcoin have been in existence for some years now but there is no country that is experiencing inflation due to bitcoin activities. Instead of bitcoin causing harm to any country economy it will boost the economy of any country that adopt bitcoin.

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April 28, 2018, 12:17:18 PM
 #32

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 it will not disrupt the economy instead it will improve he economy. The total income of rich class is equivalent to the total income of 30% of the population in my country. Bitcoin would have helped uplift the financial status of the 30% of the population. This would create balance and of course improve the economy of a certain country.
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April 28, 2018, 01:55:51 PM
 #33

In developing countries,bitcoin is still in its infant stage.So,majority of people still don't know what bitcoin is.And so the smaller volume of people would not be able to disrupt the economy of a country itself.Its in the case of smaller developing countries.If its about US,then surely most o the rich people use bitcoin and it might lead the government to loose tax revenues.


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April 28, 2018, 02:05:36 PM
 #34

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 bitcoin will be legalized and be taxed,  it will greatly help the economy. But as to bitcoins' feature of being decentralized, taxation can be evaded and it will not contribute to economy's growth. I know a lot of us don't want to change what bitcoin is right now, but it will be easier for the government to accept and endorse using bitcoin if it contributes to the economy.

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April 28, 2018, 03:53:31 PM
 #35

I do not see how people in developing countries would prioritize investments they do not have enough knowledge of and may mean their loss over their most basic of needs. It is not into their mindset.
But, yes, I do agree that the proper knowledge of bitcoin can benefit the poor if they have to resources to access it. It would benefit them economically and contribute to the downing of unemployment rate.
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April 28, 2018, 04:00:27 PM
 #36

In developing countries bitcoin has a very strong rule as most of the people in those countries afraid of currency value loss as their currncy is really new and the government hasn't proved to be legit yet.
So people who holds large amount of money don't really want to trust the government with their whole amount of money, and it usually a problem to hold USD in bank accounts as the banks are new and you may get reported to the government or getting charged in a high fee.
Bitcoin enables trading and holding value without the fear that someone is watching your back.

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rimueng agam
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April 28, 2018, 04:03:36 PM
 #37

I think there is no effect of this bitcoin with inflation with the state but the government is only afraid of being replaced by the currency that is now in the country by the newly arrived bitcoin and the price is fluctuating and according to the government will be much harm to society and also harming the country

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carter34
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April 28, 2018, 04:16:57 PM
 #38

Bitcoin is a new money source and I don't just say is only for the developing country. The developing countries though have greater opportunity on it because there are really no jobs in those countries and so the people are using bitcoin very well and investing on it to make profit.

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satecream
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April 28, 2018, 04:25:40 PM
 #39

It not taking a big impact on thw inflation in some countries i think. Curently that was good for the any developed country to gain more stregth in their tourism cause people can't bring much money on their vacation

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April 28, 2018, 04:44:54 PM
 #40

most of the countries in Africa are developing
technology in Africa country's are not good
most people are illiterate they can't read or write
i think they won't find it easy to use bitcoin to trade
it will take a long years before bitcoin can be effective in Africa country's...

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