THE BITCOINS AND THE UNDERDEVELOPED WORLD

[salty]

I do not say that distribution of wealth should be at the expense of small ordinary people who live in some wealthy countries, but instead to invest in weapons or some stupid projects which do not make sense and represent a danger to humanity we should help underdeveloped countries.

That's the thought we all have to hold on to.Many on the forum have forgotten,and some still do not know the real purpose of bitcoin.Me also afraid of the amount invested by all the world in Weapon, that kills us!!!Are we so crazy Homo sapiens that we are willing to invest more in weapons than to help others?I do not know what weapons will fight in the Third world war, but in the Fourth will fight with sticks and stones. — Albert Einstein.

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[Ozero]

Here it is also necessary to remember about the risks to which persons engaged in cryptocurrency. Well, as long as it grows and develops. However, it is enough that due to negative information a panic rises, and according to the domino principle in one day the entire cryptocurrency market may collapse. Therefore, the issue of attracting poor people to cryptocurrency should be treated very carefully.

[jack8989]

 I think that's normal. Just as when the internet began to appear in developed countries, less developed countries were ignorant and they could still live normally.
Least developed countries will have their other professions.
and you should not be too worried, the decentralized market will never be as big as other financial markets. it will only keep to some extent.
therefore, less developed countries do not suffer too much without knowing crypto.

[TheCoinGrabber]

I don't see any problem. There are multiple ways to access the internet and bitcoins might even develop to the point that the users might not need to have a constant internet connection. For example they might only need to go online for a few minutes when converting their bitcoins for fiat (which is how it usually is in these countries).

[beerlover]

The risks and rewards are a lot bigger in underdeveloped worlds. When someone works for pennies on the dollar for someone in the first world they are risking their time to go to waste if the price of bitcoin falls, they are also risking unemployment as well. It is quite important for these people to make sure the money is coming in all the time, yes it is easy because 100 dollars could be all months salary for them but at the same time if they lose that 100 dollars a month then it is even harder to live for them since they are already in a third world country.

So, all in all it does provide with better rewards for someone in the underdeveloped world but it also causes a lot more risks. If you can take advantage of it, you can literally have better life people who work countless hours but if you get screwed you will have a lot of troubles.

[Aveatrex]

The risks and rewards are a lot bigger in underdeveloped worlds. When someone works for pennies on the dollar for someone in the first world they are risking their time to go to waste if the price of bitcoin falls, they are also risking unemployment as well. It is quite important for these people to make sure the money is coming in all the time, yes it is easy because 100 dollars could be all months salary for them but at the same time if they lose that 100 dollars a month then it is even harder to live for them since they are already in a third world country.

Yeah, but I don't think that investing in Bitcoin is interesting for under developed world,the interesting part is that they can find some work in the crypto world paying good enough for their survival when compared to the very little rewarding and available work they have locally.

In some countries like Venezuela, people are making a loving out of games that have real cash economy like RuneScape, they farm the in game gold and sell it even if they only few bucks every day which is enough for their survival. For these people, cryptocurrency is a life saver since there is a lot of opportunities to earn some cash without actually investing.

[romero121]

Bitcoin usage keeps growing, but the same in terms of percentage compared to the fiat usage is very low. Compared to the world population people who haven't got used to card transactions were quite big. This way bitcoin market and acceptance getting widen won't disturb the world economy. Without internet and electricity nothing work in an efficient manner.

Internet hasn't reached more remote locations till date, through solar power generators electricity is being used by people over those localities. This way it isn't that easy to reach a massive use of bitcoin among the common people. The growth over the under developed world is possible only if the acting government takes steps forward.

[fullhdpixel]

I don't see any problem. There are multiple ways to access the internet and bitcoins might even develop to the point that the users might not need to have a constant internet connection. For example they might only need to go online for a few minutes when converting their bitcoins for fiat (which is how it usually is in these countries).

Bitcoin is a product if technology, and technology can advance at any time to any point that you may never believe will be possible, in my country, we have digital payments system set up inplace already, especially that of traditional banks which makes them always encourage cashless system, and they have also developed to the extent that you don’t have to go online to make payment, you can just load your money from your account into a little chip that works offline.

Also, I think this can also work in crypto too, where you can transfer some of your bitcoin into the magnetic chip and then take it to any merchant to just use a machine that will be design for it to read it, but before we can get to this stage, government must have fully regulated the cryptocurrency.

[Oilacris]

Bitcoin usage keeps growing, but the same in terms of percentage compared to the fiat usage is very low. Compared to the world population people who haven't got used to card transactions were quite big. This way bitcoin market and acceptance getting widen won't disturb the world economy. Without internet and electricity nothing work in an efficient manner.

Internet hasn't reached more remote locations till date, through solar power generators electricity is being used by people over those localities. This way it isn't that easy to reach a massive use of bitcoin among the common people. The growth over the under developed world is possible only if the acting government takes steps forward.

Not only on remote places which doesn't have an internet.Consider also to those place have connection but still people isn't aware on crypto's existence.Why?

Two various reasons,either its being blocked and highly discourage on their own country/government or just simply ignore believing that this is an another
internet scam exist online.

[bitgolden]

Bitcoin usage keeps growing, but the same in terms of percentage compared to the fiat usage is very low. Compared to the world population people who haven't got used to card transactions were quite big. This way bitcoin market and acceptance getting widen won't disturb the world economy. Without internet and electricity nothing work in an efficient manner.

Internet hasn't reached more remote locations till date, through solar power generators electricity is being used by people over those localities. This way it isn't that easy to reach a massive use of bitcoin among the common people. The growth over the under developed world is possible only if the acting government takes steps forward.

I don’t think that number of people that can be counted as under developed is really enough to really stop bitcoin from functioning well and gaining massive recognition because if you consider the level of literacy in the world, it is quite far lower than the number of literacy, wherein those who have at least sound knowledge of technology among them too is very high.

I think that figure is quite enough to keep cryptocurrency functioning well, as I speak, ever since gsm has been introduced, we still have some remote part of some cities of the world that are yet to even know what those gsm is all about, but that still has not stopped the gsm from functioning well, so same way that bitcoin technology can grow very high without those people and maybe get to them with time.