bitcoin in developing countries

[KingdomHearts]

Bitcoin is very important in developing countries because it can help boost its economy it helps also people without permanent job to earn for their living and also helps in solving poverty.

But there is a big problem there. I have read many news regarding this on sisal media and electronic media. And every time they said, all such governments of developing countries have banned bitcoins with immediate effect because in their point of view, these decentralized coins can reduce the tax paying from public as they are decentralized and can’t be traced down.

[1Referee]

But there is a big problem there. I have read many news regarding this on sisal media and electronic media. And every time they said, all such governments of developing countries have banned bitcoins with immediate effect because in their point of view, these decentralized coins can reduce the tax paying from public as they are decentralized and can’t be traced down.

Firstly, in most cases Bitcoin isn't actually banned, but just the practice of exchanging crypto to fiat and vice versa.

Secondly, governments missing out on taxes is just nonsense. If there was no crypto, there would be no additional crypto tax income for governments, so what exactly are they missing? To add; them getting rid of crypto actually makes them lose out on additional tax income. If you regulate the market as government, you WILL get tax income from crypto. It might not be that all people suddenly start paying tax, but what's better, 20% of the crypto traders pay tax or 0% of the traders?

People here need to accept and understand that people in developing countries are mostly poor for a reason, and will remain that for a reason. They aren't supposed to progress further. Poverty, just like debt, means you as authority effectively control everyone fitting in these categories, and let that control be what authorities desperately plan to hold firm.

[kyucryp]

I think bitcoin does not disturb the stability and cause inflation of a country. Instead bitcoin was created with the aim of avoiding inflation. Bitcoin is a deflationary and decentralized digital currency. Japan is a country that legalizes bitcoin as a means of payment proved more advanced and does not disturb the stability of the country.

[MCVXYZ]

From a theoretical point of view I think it depends on people's education level and on their experience because  use cases are many and varied,therefore it depends on how people value bitcoin...In another situation nobody knows what will happen, may it be good or not for their economy...Just imagine,For me bitcoin and also other technologies like Artificial intelligence are  the good ways for X country to receive new additional perspectives for new,imported money,they have chances to create something cool and unique which may cost billions of dollars...That's why I say that everything depends on people.

[SHAWN-MIDWAYS]

Bitcoin is liked throughout the world for its many uses and advantages. As for developing countries it can help overcome their financial crisis and allow them to build a stronger economy.  It is also in my opinion a great way for one to donate to help developing countries with their needs. (Ie water, food and electricity.) Because there are no currency exchanging fees and bitcoin is well known I believe it would be a very convenient way to send money for helping the poor out.

[South Park]

But there is a big problem there. I have read many news regarding this on sisal media and electronic media. And every time they said, all such governments of developing countries have banned bitcoins with immediate effect because in their point of view, these decentralized coins can reduce the tax paying from public as they are decentralized and can’t be traced down.

Firstly, in most cases Bitcoin isn't actually banned, but just the practice of exchanging crypto to fiat and vice versa.

Secondly, governments missing out on taxes is just nonsense. If there was no crypto, there would be no additional crypto tax income for governments, so what exactly are they missing? To add; them getting rid of crypto actually makes them lose out on additional tax income. If you regulate the market as government, you WILL get tax income from crypto. It might not be that all people suddenly start paying tax, but what's better, 20% of the crypto traders pay tax or 0% of the traders?

People here need to accept and understand that people in developing countries are mostly poor for a reason, and will remain that for a reason. They aren't supposed to progress further. Poverty, just like debt, means you as authority effectively control everyone fitting in these categories, and let that control be what authorities desperately plan to hold firm.

It is a little bit depressing but I think you're right, those that are poor are very unfortunate to have been born poor and because of that they are going to be denied a lot of opportunities that could help them to change their fate, there are those that are able to get out of that poverty but people like that could have succeeded in almost any scenario that you gave them because they have that kind of drive.

[valentinen39]

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?

Cryptocurrency can really develop the country only if government will allow cryptocurrency to flow on their and be legalize in their area, in this way people can start trading in the market and those who are jobless can do something that will be worthy of their time.

[weblouartisan]

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 should be advertised on the television if there is a company who are accepting cryptocurrency because it helps different people in their life, another is that the growth of economy will be much faster if government will use cryptocurrency on their country.

[jetjet]

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 dont think bitcoin will disrupt economic stability in contrary bitcoin will help boast economic growth. there are so many people earning money through bitcoin, it somehow helps the economy. if people are in good financial standing so as also with the economy so theres no room for disruption on that scenario.

[wraithdot]

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.

Definitely right, bitcoin is worthy and very useful for developing countries and it will never be  risky to joining such crypto currency,it can help with those people who are interested  in home base type of work.

[bingungsekali]

which I know bitcoin in developing countries is rejected by the government .. for example Indonesia is my own country .. in my country the government refused the existence of bitcoin for fear of being abused for illegal transactions, money laundering, financing of terrorism and also because this is not a legal means of payment.

[Cinemo]

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.

our country was 3rd world country and yes its developing country and im sure that it is a good year to all cryptocurrencies earner to start a new life with it. cause our beloved president is not against in bitcoin although they heard that its used in crimes and illegal doings. im sure our president knows that many of his citizen is depending on bitcoin.

[nodulelibyane7]

The fiat system is the one causing the inflation’s all the time and manipulates.

[Williams_Leo]

In the developed world, Bitcoins can be dubbed the currency of economic change in their country. Many countries now prefer Bitcoin currencies to be more productive so they have expanded their markets. Virtual currency, allowing all investors to participate in the transaction.

[Gudhal Untu]

I'm sure and optimistic that the future of bitcoin will continue to improve so that all countries will develop bitcoin, and a good example is the Japanese government that actively introduces to their citizens to use andd developing bitcoin.

[googs84]

In present world bitcoin is becoming popular day by day. People have started to know about it. In developing countries also many people are connected with bitcoin.

Thats just the same thing that OP told! Whats new in your own idea or thoughts thats what we are discussing here mate.

According to me its all about the marketing strategies. Regardless of developed or developing the bitcoin is getting into hearts of every person because of one main thing, its getting them profited with the huge investment that they are making !

Thats the simples logic behind this one.

[aksay79]

In present world bitcoin is becoming popular day by day. People have started to know about it. In developing countries also many people are connected with bitcoin.

Yes in recent days bitcoin and other crypto currency are very popular all over the world so this is a good thing for all crypto currencies and also the development of its value and also gives some hope for users.

Big mistakes, some big countries have not yet legalized bitcoins to move freely in this country, but the government is no longer able to prevent the bitcoin movement getting ahead of the world

[Jaky]

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?

No in other country Bitcoin is not yet accepted and not much legally open to all countries.. that's marketing strategies getting more ideable for people to know and have knowledge about and then they invest and think the big fish is in cryptos..

[laravuemaster]

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?

Japan is one of the country that is using cryptocurrency to improve their own economy so there is no reason for the government of other countries to ban cryptocurrency in their area since it was helping different people's life.

[exalterego]

In central Africa country like Kenya, Zimbabwe etc
With the help of Bitcoin they can buy anything from Internet.

Ah man, in those countries they don't even have water and electricity, and a huge percent of families live for 1 (one!!) dollar per day (not to say about the limited access to Internet).
I don't think these poor people dream about bying something on the Web.
In order to have financially reliable population these governments should firstly improve living standards, wipe out poverty - and then enjoy all the benefits of Bitcoin.