Bitcoin's impact

[biskitop]

I live in a developing country and bitcoin does not have a significant effect on economic development. not even many companies have adopted bitcoin as one investment asset. still in the group of people who use it, so it hasn't really overcome poverty.

[1714117469]

1714117469

[1714117469]

1714117469

[jseverson]

There happens to be plethora of problems the bitcoin solves in its own way, but I think myself and 85% other bitcoiners would agree that the major issue the bitcoin puts a halt to is poverty(as it provides financial freedom)...uhm,...thats not to say that many bitcoiners weren't rich or more so comfortable before the inception of the bitcoin,but it sure does contribute it's own fair share of financial freedom and makes the rich richer and the poor,rich

Bitcoin doesn't provide financial freedom. You're probably confusing it with financial inclusion.

Either way, even financial inclusion doesn't end poverty. It can help alleviate poverty, but it has to come with financial opportunity, another thing that Bitcoin doesn't necessarily provide. I mean, if we're talking about people who barely have enough to feed themselves (and a lot of people don't even have enough), how exactly does using Bitcoin benefit them? They may not even have an online device or even a stable internet connection.

Bitcoin can certainly impact economies through creating related jobs, granting people financial independence, etc., but it can't eliminate poverty.

[memecoin]

In the future, I can see that bitcoin will strongly influence other investment professions, make the most official crypto, accept bitcoins across the country you and I live in, many companies and utilities choose investment, business into bitcoin. Just my imagine, can you believe me? 

[Red-Apple]

i think the most impact has been in developed countries mostly because the real adoption has happened there. in the under developed countries there is only speculators who invest short term and try making some quick buck before abandoning bitcoin.

of course that is only my observation. in order to know the correct answer you need to do a real study and consider a lot of factors. for example in the developed countries the cost of electricity is usually higher and that makes mining harder whereas in many of the developing countries the cost of electricity is lower and that makes mining easier. and that little distinction makes a difference in impact of bitcoin in such countries.
but that will only be one factor!

[proTECH77]

Bitcoin has deeply impacted the world economy and it holders in general since the advent of it creation as a digital currency. It impactation on brought about the unavailing potentials inscribe on Blockchain technology, this has tremendously bring about a decentralize mode of operation in all aspect of life. Bitcoin taken the mainstream manifestation of the Blockchain technology has given ways to others to follow suit along the Blockchain technology.   

[yowelfree]

Bitcoin has made impact in the world generally but to the third world countries in particular. Unemployment has reduced. Many youths are living on bitcoin.

[aoluain]

Ostensibly most topics/threads on this section have actually been discussed multiple times and hence a sequel of the last discussion,so I thought it wise to come up with something novel..

There happens to be plethora of problems the bitcoin solves in its own way, but I think myself and 85% other bitcoiners would agree that the major issue the bitcoin puts a halt to is poverty(as it provides financial freedom)...uhm,...thats not to say that many bitcoiners weren't rich or more so comfortable before the inception of the bitcoin,but it sure does contribute it's own fair share of financial freedom and makes the rich richer and the poor,rich

I disagree, the wealth divide still remains even with bitcoin and crypto.
How exactly does bitcoin make poor people rich?
because you cannot create something from nothing, even bitcoin cannot
do that. There has to be some level of input at some stage.
The thing is rich people can put it far more than a poor person.

[avarnet]

I live in a developing country and bitcoin does not have a significant effect on economic development. not even many companies have adopted bitcoin as one investment asset. still in the group of people who use it, so it hasn't really overcome poverty.

but if in my country the impact of bitcoin on its users is huge in terms of economy and finance, because there are already so many bitcoin users who are successful and fast becoming rich people, so the impact of bitcoin on its users is huge if in my opinion

[Shafiqul Islam]

Bitcoin has a great impact on our economical conditions specially for me ...I am an university student and I support myself and my family with bitcoin income. I love bitcoin very much.

[- ESPERS -]

       I think Bitcoin's impact on the world is different, depending on the countries where people live. Bitcoin is a heavenly gift for those who live in the third-country countries, but also for developing countries. A $ 100 rebound in reward campaigns for most African countries is more than one salary and can be the real source of existence for several months. And for the second hand countries, rewarding payouts are some profits that help people supplement their revenue. For strong financial countries, bitcoin is not of vital importance, with people in these countries having a high standard of living.

[Jihuny23]

there are several impacts that you need to know when going to invest using bitcoin. like one of them is financial impacts. this is because the value of the currency tends to fluctuate. having a global network.
bitcoin has been kenown in various countries throughout the world. the transaction process runs faster. by using this bitcoin, the transaction process you need can run faster even though your relationship is aboard.

[klarki]

Bitcoin has a great impact on our economical conditions specially for me ...I am an university student and I support myself and my family with bitcoin income. I love bitcoin very much.

What do you do? Are you a trader/holder/investor?
If you don't mind, please answer this question.

[Kayum10029]

Bitcoin has a positive impact on our life.it changes our life style and socioeconomic conditions.i support my wife and children with bitcoin incomes.

[SnapDown22]

what I feel is now a bitcoin is a change in my economic system and I think whether it can be developed again and can until the future I want to be like that

[Snyderfx2]

Ostensibly most topics/threads on this section have actually been discussed multiple times and hence a sequel of the last discussion,so I thought it wise to come up with something novel..

There happens to be plethora of problems the bitcoin solves in its own way, but I think myself and 85% other bitcoiners would agree that the major issue the bitcoin puts a halt to is poverty(as it provides financial freedom)...uhm,...thats not to say that many bitcoiners weren't rich or more so comfortable before the inception of the bitcoin,but it sure does contribute it's own fair share of financial freedom and makes the rich richer and the poor,rich

Now the point of our discussion
I'm going to provide three groups
1)3rd world countries/underdeveloped countries
2)Developed countries
3)Developing countries

Each and everyone of us happens to live in one of the aforementioned groups,so with reasons let us know in your opinion which of this groups(countries)the bitcoin has had more of an impact on and why you think so(outlining at least one problem it solves for the individuals in such groups/countries)

Developed countries and developing countries can make progress with the use of bitcoin by adapting into there core businesses than 3rd world countries because due to there undeveloped nature most of underdeveloped countries are low in technical resources and even internet facilities and those are important when making transactions using bitcoin as a digital currency and that is why they don't get much benefit from bitcoin even it is widely spread around the world

[damar09]

Ostensibly most topics/threads on this section have actually been discussed multiple times and hence a sequel of the last discussion,so I thought it wise to come up with something novel..

There happens to be plethora of problems the bitcoin solves in its own way, but I think myself and 85% other bitcoiners would agree that the major issue the bitcoin puts a halt to is poverty(as it provides financial freedom)...uhm,...thats not to say that many bitcoiners weren't rich or more so comfortable before the inception of the bitcoin,but it sure does contribute it's own fair share of financial freedom and makes the rich richer and the poor,rich

Now the point of our discussion
I'm going to provide three groups
1)3rd world countries/underdeveloped countries
2)Developed countries
3)Developing countries

Each and everyone of us happens to live in one of the aforementioned groups,so with reasons let us know in your opinion which of this groups(countries)the bitcoin has had more of an impact on and why you think so(outlining at least one problem it solves for the individuals in such groups/countries)

definite impact is with a lot of bitcoin mining may reduce any electricity supply in each country maybe if in a developing country, they will be able to develop with renewable technology with sufficient capital supply but in a country that is classified as backward they may be able to find out how so that the supply or capital they have can be enough to develop a bitcoin mining project

[serjent05]

To make rich richer and poor rich. Hmmmm! I dont 100% agree with this statement. You are talking as if we are in the time when bitcoin was just few dollar cents in value. Now though a lot are murmuring and complaining that it has not yet came back to $19k and below but still, $6k+ is big. Rich can afford it but the poor like those in the third world countries as you say it how can they? Bitcoin is not free and no one gives bitcoin as alms. Sad truth huh.

[Steinway-Bobb]

In my opinion the biggest impact of bitcoin on the society is the impact on paper money, because it threatens the viability of paper money, which can replace money and money that can disappear. The government is working hard to protect paper money

[cizatext]

I think the 1st and the second world have been imparted positively by bitcoin due to the fact that their technological know how made it possible for those developed countries to become the early adopter's of bitcoin and the digital currency in it entirely and that has help to improve the economy and made it possible for the citizens of those countries to adopt bitcoin as they secondary currency due to the freedom they enjoy from the technology. But the third world on the other hand is technologically backward and at that is finding it hard to embrace the technology behind bitcoin in it full potential.

[Rahar02]

but it sure does contribute it's own fair share of financial freedom and makes the rich richer and the poor,rich

I don't agree with you on this. Even if I'm rich,have money but I don't believe in the technology then it's still useless and when it comes to the poor that you are referring from, they don't have any interest in investing into crypto for they prefer to use their money to meet their basic needs.

This technology is built as an alternative to a corrupt centralized system of currency that we currently have not as an investment vehicle.

Frankly speaking, the only people who can benefit to this technology are those people who has the knowledge and willing to take risks whether you're rich or poor.

Correct, if we're referring to poor people in 3rd world countries who barely meet their daily needs, how could they have the knowledge to access bitcoin or even afford to buy bitcoin? if they don't have smartphones, personal computer or mac? Depends on our perspective on "poor" obviously. But here the definition from oxforddictionaries:
Poor = Lacking sufficient money to live at a standard considered comfortable or normal in a society. ex: ‘they were too poor to afford a telephone’.
Except for middle and upper-class society who have access to all the resource or adequate to get bitcoin whether in 3rd world countries or developing countries.
But for now, we can say developed countries such as US, UK, Europe, Japan, South Korea leading the market and have the most trading volume that the bitcoin has had more of an impact, they can easily access the market, have the resources, wealth and knowledge more than 2 other groups.