Bitcoin the answer to developing countries currency issues

[mostkey]

Bitcoin is an investment that is very difficult to guess so I am not sure it will be good for everyone with a not too good economic situation, on the other hand we still have many problems in the government to adopt Bitcoin as a whole, fluctuating prices will trouble them with limited knowledge For me, Fiat is more important for now, don't be too far thinking about Bitcoin because there are still many things that need to be fixed.

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[omfg.xekcep]

Well in most developing countries of the world especially in Africa and southern America the battle of a stable currency has been there issue and this countries has sometime serious of inflation and there currency are so weaker can only be accepted for trade within their country.
 If bitcoin becomes adopted generally if will Forster a healthy trading ecosystem among countries and also tackle problems of inflation, slow and ineffective transaction processes and even prevent scam and corrupt practices

Bitcoin will never be used as a national currency. Think yourself, how do you imagine it? Most part of Bitcoins has already issued and investors hold those Bitcoins. Let us go ahead, do you suggest that the government of Africa must buy Bitcoins from investors? If so, than what is the sense? There is another important question, as far as I know the total quantity of Bitcoins is limited and this limit will be reached in several years (I do not remember the number of years but it is exactly less than 10). How are you going to solve this trouble that in the near future there will not be new Bitcoins? I remember you that every economy need to have new money for developing otherwise an economy falls in stagnation.

[pixie85]

Well in most developing countries of the world especially in Africa and southern America the battle of a stable currency has been there issue and this countries has sometime serious of inflation and there currency are so weaker can only be accepted for trade within their country.
 If bitcoin becomes adopted generally if will Forster a healthy trading ecosystem among countries and also tackle problems of inflation, slow and ineffective transaction processes and even prevent scam and corrupt practices

Bitcoin will never be used as a national currency. Think yourself, how do you imagine it? Most part of Bitcoins has already issued and investors hold those Bitcoins. Let us go ahead, do you suggest that the government of Africa must buy Bitcoins from investors? If so, than what is the sense? There is another important question, as far as I know the total quantity of Bitcoins is limited and this limit will be reached in several years (I do not remember the number of years but it is exactly less than 10). How are you going to solve this trouble that in the near future there will not be new Bitcoins? I remember you that every economy need to have new money for developing otherwise an economy falls in stagnation.

Don't be so sure. Years ago people were saying that Bitcoin will never trade for 1000 dollars per coin. At that time it was maybe 500 dollars or less and people were praying for it to go to 100. Many people were saying that the Internet will never go beyond this strange network on which you can send messages or check the weather.
People are holding Bitcoins because there are no easy ways to spend it. This can change very fast.

[Palodar]

Bitcoin is an investment that is very difficult to guess so I am not sure it will be good for everyone with a not too good economic situation, on the other hand we still have many problems in the government to adopt Bitcoin as a whole, fluctuating prices will trouble them with limited knowledge For me, Fiat is more important for now, don't be too far thinking about Bitcoin because there are still many things that need to be fixed.

It can help if they will design a system with a specific and definite use. Since bloclchain and crypto does have a record in every transactions and will get easily to do. But the country needs to be established first especially in technology.

[Gabb]

In reality, the dollar has already assumed the role of replacing the fiat currencies of nations whose economies have behaved so critically that devaluation has shattered the exchange value of their respective currencies due to hyperinflation. While it is true that the US dollar seems to be strengthened for the apparently good time of the North American economy, we must bear in mind that the debt burden could end up sinking in the medium term to the United States.

Only then will be possible to discover how efficient bitcoin could be as an ideal alternative to solve the economic problems of countries in permanent crisis, even with the knowledge that its scalability problems seem to be a limiting factor for a massive use of bitcoin internationally.

[entrepmind23]

Well in most developing countries of the world especially in Africa and southern America the battle of a stable currency has been there issue and this countries has sometime serious of inflation and there currency are so weaker can only be accepted for trade within their country.
 If bitcoin becomes adopted generally if will Forster a healthy trading ecosystem among countries and also tackle problems of inflation, slow and ineffective transaction processes and even prevent scam and corrupt practices

Bitcoin would be a great help to prevent those corrupt practices but then it cannot perfectly prevent it because there is still the anonymity feature so even if you can trace the transactions, you will not know the people behind those addresses unless they would convert it to fiat and the authorities would then perform a KYC for those who would do so. I don't think bitcoin would be the answer to the issues because no matter what kind of currency the country has, if the root cause of the problem is not solved then those issues would continue.

It can help if they will design a system with a specific and definite use. Since bloclchain and crypto does have a record in every transactions and will get easily to do. But the country needs to be established first especially in technology.

Developing countries has problems when it comes to technology because most likely, there are places when there are even no electricity so it's not possible for them to use cryptocurrency in the first place. They would need to improve first their economic status and help the people in having those prerequisites first before they will focus in improving their economy through the help of cryptocurrencies.

[tee-rex]

Well in most developing countries of the world especially in Africa and southern America the battle of a stable currency has been there issue and this countries has sometime serious of inflation and there currency are so weaker can only be accepted for trade within their country.
 If bitcoin becomes adopted generally if will Forster a healthy trading ecosystem among countries and also tackle problems of inflation, slow and ineffective transaction processes and even prevent scam and corrupt practices

Bitcoin will never be used as a national currency. Think yourself, how do you imagine it? Most part of Bitcoins has already issued and investors hold those Bitcoins. Let us go ahead, do you suggest that the government of Africa must buy Bitcoins from investors? If so, than what is the sense? There is another important question, as far as I know the total quantity of Bitcoins is limited and this limit will be reached in several years (I do not remember the number of years but it is exactly less than 10). How are you going to solve this trouble that in the near future there will not be new Bitcoins? I remember you that every economy need to have new money for developing otherwise an economy falls in stagnation.

To cut a long story short, I agree with you. Having said that though, it's not how it is going to happen in real life. It is not about the government of some African country willingly deciding to accept bitcoin. It is more about common people using it as a means of payment among themselves. Personally, I don't think that bitcoin as such is very usable and suitable in this regard and for that purpose but this is another question. So if the local population starts using, for example, litecoins or doges - somehow doges seem to be a perfect replacement for local currencies, cheap as dirt and fast as shit - the government will have to accept them whether they like it or not.

This is how things happened in Zimbabwe. It was not their government that had deliberately chosen to use the American dollar instead of the local dollars, Zimbabwean ones, it is the people of this country that started to use it. And then the government had no other choice but to completely abandon that ultimately useless garbage which they had insolence to call money.

[Lorin]

Bitcoin is a blessing for those who are open minded.  It wil help individual but not totally the  whole country because not all people who knows bitcoin will agree with it. Some will reject it and make rumors to destroy it.  Bitcoin is just a way to decelop a good country but it depends on the person if he really adopt it or not.

[BagzMM]

In fact, the adoption of bitcoin in underdeveloped countries will help not only economically, but also give a lot of jobs for the population. Therefore, the adoption of bitcoin in the third world is necessary.

Yes I do agree on your statement. It really opens door to people to have  a job to sustain their daily living.