bitcoin in developing countries

[mifanmuzny]

The turning point for Bitcoin adoption in the Philippines was when a top newspaper company published an article online in favor of the cryptocurrency. The article led to spikes in Bitcoin purchases throughout the country.

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[kalawang]

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 ? 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.

For me bitcoin for developing countries especially the third world countries are very provided. Cause those country are needed an investing help to survive every day many of us are helped by bitcoin so why we are afraid in. Something that we already done.

[lorroborr]

Inflation in the countries will not. All paper and digital money will replace crypto-currencies, bitcoin will be the modern gold standard for the crypto-world

[Etoasiatsxxx]

 For me Bitcoin developing countries Especially for those countries That have a lot to pay for overseas and the countries That can not afford Other problems.

[Best Dreams]

I think this is a good idea because the state wants to develop bitcoin, I'm sure that bitcoin is hard to stop so the step to legalize and develop bitcoin is something to do so it's not left in the future.

For sure every state want to make bitcoin well developed as soon as possible because bitcoin is full of profit and it is giving then chance to earn high amount of money in very short time, bitcoin legalization is not very hard we can possibly see it legal after making it world currency, some countries like Japan and south Korea has already made it legal, the same I am expecting from my government in near future.

[a2offrb]

Most Governments in Developing countries are still not ready to give in or accept Bitcoin because of its Deregulation and Decentralization means which they feel may not be a better idea for them on their revenue generation drive, aside their feelings that it may disrupt their Economic stability due to inflation that might be caused by its volatility when it is at bump, forgetting that it is also deflationary when it is at dump. However, I believe with the degree of fast moving awareness through these media, Bitcoin shall become a recorded and globally accepted medium in most of these Developing Economies having fully equipped with lots of potentialities embedded in Bitcoin.

[julzcoinbit]

I think this is a good idea because the state wants to develop bitcoin, I'm sure that bitcoin is hard to stop so the step to legalize and develop bitcoin is something to do so it's not left in the future.

For sure every state want to make bitcoin well developed as soon as possible because bitcoin is full of profit and it is giving then chance to earn high amount of money in very short time, bitcoin legalization is not very hard we can possibly see it legal after making it world currency, some countries like Japan and south Korea has already made it legal, the same I am expecting from my government in near future.

I agree,  perhaps If our country's government accept bitcoin as a legal currency like what did some countries, especially Japan, I guess our country  will make the same situation In Japan that's high In economy and Improve our country In technology.

[TastyChillySauce00]

I think this is a good idea because the state wants to develop bitcoin, I'm sure that bitcoin is hard to stop so the step to legalize and develop bitcoin is something to do so it's not left in the future.

For sure every state want to make bitcoin well developed as soon as possible because bitcoin is full of profit and it is giving then chance to earn high amount of money in very short time, bitcoin legalization is not very hard we can possibly see it legal after making it world currency, some countries like Japan and south Korea has already made it legal, the same I am expecting from my government in near future.

I agree,  perhaps If our country's government accept bitcoin as a legal currency like what did some countries, especially Japan, I guess our country  will make the same situation In Japan that's high In economy and Improve our country In technology.

That's actually not true, there's need to consider so many factors, developing country tend to have weak economic unlike those developed country especially japan, and I can say that developing country
lacking the regulation to make bitcoin money-laundery free and prevent criminality which can be done through any form of "money" , bitcoin included.

if seeing your statement that accepting bitcoin as legal a currency will miraculously making a country have a strong economic (well not really), it's quite the opposite for developing country, the economic will be crushed, there'll be huge inflation to local currency, and even worst, crisis will occur.

[kisscoin]

Bitcoin will bring down the entire currency market! That's what the government is afraid of! They prevent it in every possible way, but these are only temporary congestion! Cryptocurrency will only stabilize and in the near future inflation does not threaten it!

[Coleth]

It would become more productive if developing countries use bitcoin. New trends for new era in a country, Wow, that would be great for all countries who will do these.

[akihiko]

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?

Hi good day!. I believe so. Although this depense on the situation or  how currencies rates increase or decrease in the market..

[fiulpro]

The developing countries are kind of not in pro Bitcoins but against them , they are more or so trying to limit the ban of Bitcoins since the banks and all think that it would take their dominance and also would cause economic disruption.
we can see that through the case of India where the RBI banned the banks from doing any kind of transaction regarding Bitcoins.
But still it holds emmense potential for the growth but how government takes it is another thing.

[Black Angel]

It must be acknowledged that the increasing number of bitcoin users globally and seemingly unstoppable hence this makes many countries prepare various regulation about bitcoin, I'm happy because now my country is making regulations regulating ICO and trading cryptocurrency so as to make assurance that bitcoin can survive and increasingly popular .

[Qartersa]

The developing countries are kind of not in pro Bitcoins but against them , they are more or so trying to limit the ban of Bitcoins since the banks and all think that it would take their dominance and also would cause economic disruption.
we can see that through the case of India where the RBI banned the banks from doing any kind of transaction regarding Bitcoins.
But still it holds emmense potential for the growth but how government takes it is another thing.

That is not true! Venezuela is even developing their own cryptocurrency, that country is for sure a developing one. You see, if you did a bit of research, the countries that are truly are against cryptocurrencies are the developed ones. Countries like Korea, Japan, China, the EU, and the USA, have been releasing regulations here and there that has hampered the growth of cryptocurrencies in their jurisdictions. Unlike in developing countries where it has not been regulating them yet, as they see it as something that could help their economy. The developed countries are afraid of change and losing the status quo. They are afraid of the possible power shift brought about by cryptocurrencies, because it is a currency without a country nor any bounds.

[BitcoinPanther]

As with many of the corrections on the idea of bitcoin disrupting a country's economy, i'd say that such statement is very speculative and subject for argument.

Fact in point, there are lots of online platforms that are allowed by each countries respective central banks to operate which in turn generates tax income on every transaction (either for payment or exchanging crypto to fiat money and other services too)

In fact, looking at the many ICOs around, you will notice that each crypto tries to comply with a countries legality on the digital cash.

So i don't really see Bitcoin disrupting any country's economy at all.

[inesterdd]

President of Venezuela Nicholas Maduro ingeniously acted! Many presidents of countries, especially African ones, should pay attention to the crypto currency, this would solve many problems in their country! But most of the presidents do not think about the common people.

[CarltonWyatt]

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!

Yes and the term of this institutionalised Ponzi scheme is quantitative easing coupled with the dollar coming off the gold standard. How they have gotten away with it for so long beggars belief!!

[Indra32]

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.

I have no doubt that the higher use of bitcoin will disrupt economic stability, because the government will collect less taxes and this can indeed cause inflation for fiat money, since fiat holders finance the state budget of a country.
People in developing countries usually have less money available to spend and they will probably buy low-priced coins from an exciting and much-needed ICO project, instead of paying $ 9,000 for a single coin!

[nodulelibyane7]

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

[romero121]

Developing countries fear much than the other countries, because of the decentralized system. Developing countries have a thinking that being decentralized might affect the average growth of the country and might get it go downward. They won't be experimenting it, but have a understanding from rumors spread by the media and other sources. This will change when one of the country with bitcoin adoption makes a massive change in their growth percentage.