2014-02-02 World Bank & Gates Foundation Sponsored CGAP Gives Bitcoin Thumbs Dow

[row5_seat47]

On January 23rd,  CGAP or “The Consultative Group to Assist the Poor“ issued a report on Bitcoin entitled Bitcoin vs. Electronic Money: Digital But Different.  Concurrent to the report’s issuance, Chief Executive Officer of CGAP Tilman Ehrbeck Blogged on Huffington Post: “Bitcoins and Financial Inclusion: Not Much of a Link for Now.”

In Depth Article Here
http://letstalkbitcoin.com/cgap-bitcoin-not-helping-the-poor/

[odolvlobo]

I think both sides are both right and wrong.

The basic arguments are:

Believer: "Bitcoin is a huge boon to the poor and unbanked."
Skeptic: "Bitcoin is too small, volatile, and inaccessible to be useful to the poor and unbanked."

I believe the truth lies between the two extremes:

Skeptic: "Bitcoin is currently too small, volatile, and inaccessible to be useful to the poor and unbanked."
Believer: "Bitcoin will be a huge boon to the poor and unbanked when it becomes bigger, less volatile, and more accessible."

[row5_seat47]

volatile as compared to a major currency.

Adopt it in Somalia and price everything in Bitcoin and it becomes less volatile.... no?

[VforVictory]

volatile as compared to a major currency.

Adopt it in Somalia and price everything in Bitcoin and it becomes less volatile.... no?

So you want a Volatile currency, in a volatile country? Clearly there must be some kind of math here that I am not seeing...

[tommygun90]

The truth lies between the two opinions! Both of them have good arguments