THE BITCOINS AND THE UNDERDEVELOPED WORLD

[hatshepsut93]

@OP

Sorry, but helping the poor was never Bitcoin's main goal, Satoshi never mentioned economic inequality in his whitepaper, and attempts to do so in early days, like airdropping coins to the poor, would only cripple Bitcoin, and we would be where we are now if they were implemented. You can try to spread awareness about Bitcoin among the poor people, but I don't think it's a great idea, for many reasons.

Bitcoin is not a guaranteed way to get rich, in fact it can just as easily wreak you financially - you can invest in the wrong time and than sit in a loss for years, you can panic and make trades at a loss, you can fall victim to scams and hacks and lose your investment. Keep this all in mind before giving financial advice to people, especially those who are vulnerable.

[stompix]

~

I think i understand a bit your way of thinking,unfortunately mast of those who have a stable condition thinks same,at the end it is just you being afraid to get out of your comfort zone.Those developing countries earned thier respect thanks to those who had guts to fight for them and most where not directly concerned ,they had families as well...So children protection is not an excuse,at the end it is just a question of personal choice.

Just to make sure you understand.
After the fall of the Iron curtain, we as in my country were dirt poor compared to western standards even below some countries in Latin america and asia.
It was the f word socialist redistribution of wealth that brought us there. We got rid of it, we worked, and here we are starting to catch up with the westerners and even getting on par with Portugal.

Why should we take again a nosedive to sustain the 3rd world countries?
Let them do the same as we did, the whole northern part of eastern Europe is proof it can be done without socialist strategies and witouht begging.

@OP

Sorry, but helping the poor was never Bitcoin's main goal, Satoshi never mentioned economic inequality in his whitepaper, and attempts to do so in early days, like airdropping coins to the poor, would only cripple Bitcoin, and we would be where we are now if they were implemented. You can try to spread awareness about Bitcoin among the poor people, but I don't think it's a great idea, for many reasons.

Yeah, people are getting overboard with the whole blockchain crypto hype.
It's just a database and a currency.
It wasn't aimed at solving every problem humankind has.

[metalglowd]

               
                                       
                     THE BITCOINS AND THE UNDERDEVELOPED WORLD…THOSE WHO ARE STILL BEHIND

             As time passes bitcoins get more and more interest worldwide, weather sooner or later, it will impact the world economy such that people with no knowledge of it will be left behind. Observing this i can’t keep myself from worrying; what about those who cannot have access to the bitcoins and are not even aware of it existence, this seems surprising but there are much more of people in this situation than people may imagine, those who have never even had access to a computer or worse don’t even have electricity, those people may have access to money though not much but if the bitcoins spread worldwide their situation may only worsen, I am talking of course here of the underdeveloped countries. 
           
             Are my fears wrong? If so what do you think can be done at our level to change something being it even only slightly?
I think this is a problem for all of us even those who don’t feel really concern…

As far as i know, all we can do is help them directly.
However, it will be too difficult if we hope we have a place that makes brands can also earn income from this kind of Bitcoin.

I'm sorry, but isn't it to get profit from Bitcoin, we must have enough ability or capital to invest, while they may not have both of them. Building a place to educate them about Bitcoin is still possible but not if they want profits quickly

[acroman08]

stompix, the fact that you think the rich should have even more at the expense of the poor, and that it's normal just showing in what kind of world we live. Anyone should have equal initial conditions for life, but this is not the case since most of people think that they are better then some others in some distant part of the world. Be happy that you can buy bottle of milk (or what is these days call milk), some children would be happy to drink one glass of milk once in a week.

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. For example some $50 is enough for one child to have schooling, food and clothing for one year in some African country. I can live without few hamburgers, a pair of packs of cigarettes or something like that, but most people will just turn head to the other side and continue with their life.

I assume that you think bitcoin is invented only for the selected ones., Who is saying that bitcoins should be taken from you or me and given to poor? I'm talking about an equal chance that everyone can use bitcoin, which in not case today. Satoshi is not invented bitcoin only for Wall Street or people who are behind big crypto exchanges so that they can make profit - bitcoin should change something in this world, but same as idea of world wealth distribution which is unimaginable at this point, maybe bitcoin is just something similar to that.

he is not saying that the rich should have even more at he expense of the poor. he is saying that an equal distribution of wealth is not the solution to helped the undeveloped countries or anyone. 

also "African countries" are being helped too much (in my opinion) and yet nothing really is changed. with the amount of donation being donated to helped the African countries it should be enough to make a significant change on the way they live. what I am trying to say is that a lot of underdeveloped countries wouldn't be so underdeveloped if it weren't for stupid leadership and corrupt politician who run the country.

[moynul2050]

               
                                      
                     THE BITCOINS AND THE UNDERDEVELOPED WORLD…THOSE WHO ARE STILL BEHIND

             As time passes bitcoins get more and more interest worldwide, weather sooner or later, it will impact the world economy such that people with no knowledge of it will be left behind. Observing this i can’t keep myself from worrying; what about those who cannot have access to the bitcoins and are not even aware of it existence, this seems surprising but there are much more of people in this situation than people may imagine, those who have never even had access to a computer or worse don’t even have electricity, those people may have access to money though not much but if the bitcoins spread worldwide their situation may only worsen, I am talking of course here of the underdeveloped countries.  
            
             Are my fears wrong? If so what do you think can be done at our level to change something being it even only slightly?
I think this is a problem for all of us even those who don’t feel really concern…

Why are you so worried? many people get rich with their plantations, with their agriculture, without electricity, without computers.
even without the internet, they trade traditionally and sometimes even without the FIAT currency, they only trade one item and the other.
so if they don't know bitcoin and don't benefit from bitcoin it won't change anything, they have become humans who can make money for their lives long before bitcoin was created.

[EdenHazard]

You should have a think that your country will be changing for the next few years, not only to spread a deep fear which obey on your mind. I believe that all countries in the world are aware of technology, because technology is a factor that is not excluded. So, government will continue to make their citizen aware of technology and even I am sure some of the developing countries will provide a facility for the government for their people to be able to use the internet or a computer easily.

With the result of that everyone will easy to know bitcoin and cryptocurrencies's function as a whole. This is the matter of time only, sooner we will see mass adoption that come to cryptocurrency. As for example in my country, I live on developing country maybe it same with you. Electricity just came to my village at 2012 ago because I live in a village far from urban areas, so I can't only feel the electricity if I came to urban areas, but now the people in my village can learn fastly and has been knowing everything about technologies including bitcoin and cryptocurrency.

[enhu]

Under developed countries are going to cope up when their government comes up with better system. A hundred years later, I don't think bitcoin will ever stop, it will still exist and if your country improves and will have the technology, they will still have the chance to have bitcoin. Cryptocurrency will live in the future. Don't dwell too much on unfair wealth, underdevelop country will improve later on.

[BrewMaster]

when smart phones first came out, they didn't reach third word countries first. it too some time to get there. it also took a long time to become a wide spread thing until the day when nearly everyone has one in his pocket. those who adopted smart phones late weren't "late" to anything and you didn't fear for them!

but you fear for people adopting bitcoin late only because you are not looking at bitcoin like a technology such as smart phones or similar things. instead you are looking at it as an investment that people are going to be late to invest in!!!

[CASTIEL05]

In real talk, Bitcoin itself can't change the underdeveloped countries. It was not made to improve one's nation. Well, it may influence but not a solution. You know, there are a lot of factors why country is underdeveloped. Before solving the complex why not first see the basic. If a country suffering from extreme poverty, war and violence the developed countries serve as a helping hand. Progress doesn't happen immediately it takes a long process.

[dunfida]

Lets face up the reality where we cant really able to solve out that kind of problem where there would always a population or places that wont really
able to know on whats happening behind online yet electricity is even a problem and also even if they do know bitcoins existence it doesnt guarantee that
it would able to change their life up.It give out chances but it depends still on how they do work.For now it would be much better not to struggle or boggle up
your mind on how to solve that.

[AjithBtc]

Compared to the world economy what the cryptocurrency ecosystem contributes is very low. Considering the same there is nothing to worry thinkin one who doesn't have knowledge will be left behind. People from underdeveloped countries prefer bitcoin similar to the currency as they are unable to carry loads of currency for business needs. In an article it was clearly mentioned, people of African countries prefer it much to make things easier that can't be done by their own currency.

[bitcoinproblogger]

               
                                       
                     THE BITCOINS AND THE UNDERDEVELOPED WORLD…THOSE WHO ARE STILL BEHIND
          
             Are my fears wrong? If so what do you think can be done at our level to change something being it even only slightly?
I think this is a problem for all of us even those who don’t feel really concern…

Bitcoin is NOT a magic pill

You are aware that you can replace the word "bitcoin" with "money" in all your sentences and the problem would still be there. There's a reason why people in the underdeveloped world (dude, it's called DEVELOPING WORLD), have scarce access to Bitcoin, namely:

1. Armed conflict (wars)
2. Drought, famine and unsuitable living conditions brought about by climate change
3. Religious persecution, such as in states where Islam is forced on people through violent means
4. Income inequality brought about by social and class divide.
5. Corruption by the ruling elites
6. Lack of education and infrastructure

You make a big mistake of thinking that Bitcoin and Bitcoin alone can solve the world's problems. This is just plain naivete. First of all, Bitcoin BTC = is a speculative investment instrument. If more people buy Bitcoin, its price goes up due to the limited supply. If more people start selling Bitcoin BTC, its price goes down. It's called the law of supply and demand.

As a speculative asset, it means that its value can also deteriorate as it can rise. If you are a poor undeducated nomad living in the steppes of Mongolia, can your Bitcoin buy the supplies, equipment that you need in order to survive there?

[DreamStage]

Well it is just a matter of time till new comers will join Bitcoin after they start learning more and more from it.
Social Media is a big part if everything for that and spreading the word to your family, friends and those who don't have a clue what Bitcoin or any crypto currency really is.

In case of those without internet / electricity i am sure there will be some more new ways for them.
Who knows if those who have a bank account will be informed about bitcoin and cryptocurrency system from their banks instead.
Also banks will possible be able to issue some Crypto cards where you could use your fiat as a crypto currency.

[befriendmywater]

               
                                       
                     THE BITCOINS AND THE UNDERDEVELOPED WORLD…THOSE WHO ARE STILL BEHIND

             As time passes bitcoins get more and more interest worldwide, weather sooner or later, it will impact the world economy such that people with no knowledge of it will be left behind. Observing this i can’t keep myself from worrying; what about those who cannot have access to the bitcoins and are not even aware of it existence, this seems surprising but there are much more of people in this situation than people may imagine, those who have never even had access to a computer or worse don’t even have electricity, those people may have access to money though not much but if the bitcoins spread worldwide their situation may only worsen, I am talking of course here of the underdeveloped countries. 
           
             Are my fears wrong? If so what do you think can be done at our level to change something being it even only slightly?
I think this is a problem for all of us even those who don’t feel really concern…

That is also a big problem in using electronic money for future payments. Currently there are many people who cannot use the internet because it is too complicated. but i think we should combine electronic money and fiat money. it would be more reasonable instead of forcing everyone to use smartphones or access the internet to pay every day.

[arpon11]

               
                                       
                     THE BITCOINS AND THE UNDERDEVELOPED WORLD…THOSE WHO ARE STILL BEHIND

             As time passes bitcoins get more and more interest worldwide, weather sooner or later, it will impact the world economy such that people with no knowledge of it will be left behind. Observing this i can’t keep myself from worrying; what about those who cannot have access to the bitcoins and are not even aware of it existence, this seems surprising but there are much more of people in this situation than people may imagine, those who have never even had access to a computer or worse don’t even have electricity, those people may have access to money though not much but if the bitcoins spread worldwide their situation may only worsen, I am talking of course here of the underdeveloped countries. 
           
             Are my fears wrong? If so what do you think can be done at our level to change something being it even only slightly?
I think this is a problem for all of us even those who don’t feel really concern…

I am from a third world country and I do think that if our government can embrace cryptocurrencies most of the financial problems my country is having will be a thing of the past. I remember how a country in Africa  has its currency valueless because of the effect of dollars on their money. If this country accepts cryptocurrencies or bitcoin that is decentralized as their currency I do believe that, this will not happen and  the issues of internet I don't think will be a problem as most community has internet access now and it will be easier to be thought for those that did not have the knowledge on how to used internet.

[maxreish]

I know where your realizations are coming from but you underrated bitcoin and the blockchain technology itself. In reality, there are people who weren't able to afford the internet, mobile phones and other type of access to the internet. However, if our government will make a good step and make a solution to this kind of scenario, they will gonna be a part of this advanced technology by bitcoin.

I bet, you are pertaining of remote areas where in education is not that prioritized. But I am very much optimistic with the future with bitcoin. The only problem here is the adoption of new things, we have to educate those people who are unprivileged enough to go to school on how this digital payments works.

[stompix]

I am from a third world country and I do think that if our government can embrace cryptocurrencies most of the financial problems my country is having will be a thing of the past. I remember how a country in Africa  has its currency valueless because of the effect of dollars on their money. If this country accepts cryptocurrencies or bitcoin that is decentralized as their currency I do believe that, this will not happen and  the issues of internet I don't think will be a problem as most community has internet access now and it will be easier to be thought for those that did not have the knowledge on how to used internet.

Why do you think it is going to help your country?
It's the same belief in the magic pill that everyone is pointing out.

Changing your currency to bitcoin or pegging it to bitcoin would be right now a total disaster for a country that is trying to develop its economy. You will get rid of inflation but you will experience heavy deflation at the point you will need to print money to keep the economy stable, exports will be destroyed, imports will dominate the markets, your trade balance will be a vertical line and what is worse, the difference between those that were poor and the rich will become even bigger.

A far easier solution would be to peg your currency to a basket of currencies like the USD, EUR YEN and thus canceling the possibility of hyperinflations. Bulgaria, for example, is working with a pegged currency to the euro.

Also banks will possible be able to issue some Crypto cards where you could use your fiat as a crypto currency.

Wow, this tops a lot of crazy ideas I've seen on this forum

[Nkblix]

THE BTICOIN S AND UNDERVELOPED WORLD  THERE ARE THINGS INDIVIDUAL WILL DO IF GOVERNMENT DOES NOT COOPERATE,THINGS THAT WILL INPACT THE WORLD ECONOMY ,BITCOIN IS ALSO A FREE MARKET WHERE EVERY ONE CAN TRADE WITHOUT COUNTING YOUR LEVEL.

[el kaka22]

Reach-ability of crypto has an issue with too much of an underdeveloped world. I mean it does help places in third world countries to be able to connect with the whole world financially but that doesn't mean it would be helping the absolutely poor that has trouble even finding food.

For example, I just read that Yemen has a trouble with finding food and people are literally starving to death (same as north Korea but the difference is not because of the dictator) how would crypto help those people out? What can crypto do for people who are starving to death in Venezuela? You can give them bitcoin under an address and send it with key phrases and everything so they can cash out but these people do not have food to eat, so how could they cash out their bitcoins you sent them?

[kamudd]

Absolutely, even almost half of the countries in the world are still lagging behind with technology and this has caused difficulties to access information, including bitcoin. But even so, bitcoin and the economy in a country have a different path because there are still many things that are important to them other than bitcoin.