Russia, Philippines, Indonesia and India support crypto the most

[marksandtoday]

don't u find it weird? The less eveloped counties support blockchain implementation the most? what is the reason? possibility to earn or to steal?

Link to the article: https://ambcrypto.com/indonesia-russia-philippines-and-india-among-countries-whose-citizens-actively-support-budding-crypto-projects/

[deisik]

don't u find it weird? The less eveloped counties support blockchain implementation the most? what is the reason? possibility to earn or to steal?

Link to the article: https://ambcrypto.com/indonesia-russia-philippines-and-india-among-countries-whose-citizens-actively-support-budding-crypto-projects/

I can tell you why crypto is so popular in Russia

Don't know about Indonesia (but the same reasons can apply there as well), but in Russia people are very suspicious of the local government (deep inside) up to a point where they can publicly tell you one thing (e.g. that they fully support whatever the government does) but in reality they definitely know better (read, they don't trust the Russian ruble). And crypto happens to efficiently and effectively end the government control over personal finance enforced via inflation and a multitude of other nasty devices (given the rich history of fiat devaluations and money expropriations in this country)

[buwaytress]

Might want to really differentiate betwixt crypto and blockchain. The former typically uses blockchain but you'd be surprised how many actually don't these days, not in the traditional DLT sense anyway. The latter almost certainly doesn't automatically mean crypto.

Plenty of blockchain solutions being trialled in these countries, and they're hardly ever associated with actual use of any crypto.

These countries shouldn't come as a surprise. They've been very tech friendly. Gotta be to compete.

[Nalbo]

don't u find it weird? The less eveloped counties support blockchain implementation the most? what is the reason? possibility to earn or to steal?

Link to the article: https://ambcrypto.com/indonesia-russia-philippines-and-india-among-countries-whose-citizens-actively-support-budding-crypto-projects/

They are just getting too much buzz. Though they are one of the largest countries by population and policies made by them would have immense effect in comparison to smaller countries, a lot of small countries in Europe and some in Asia like Hong Kong, Singapore, Taiwan and South Korea are much more friendly to crypto.

[mk4]

Quote from the linked article: "In a shocking revelation, the report suggested that most active participants in the emergence of new crypto-projects (within airdrop, bounty and referral programs) were from Indonesia at 18%, followed by Russia at 16%."

I don't think taking part in airdrops, bounties, and referral programs is necessarily synonymous with "supporting" crypto.. obviously these countries has the most airdrop/bounty activity, simply because most of the countries listed are 3rd world countries.

[DdmrDdmr]

The survey was performed by Even Foundation, and as far as I can interpret, the survey participants are tied to participating in the promotion of their ICO:

Our audience is participants of airdrop, bounty and referral programs. 436 respondents are an active part of this audience. The country breakdown is the following:

Their target audience is therefore not empirical, and has a biased view of those nationals that participated in the social tasks surrounding their ICO. For multiple reasons, that does not necessarily (and not even likely) render a disperse group of participants, representative of a global trend or distribution. Aside from that, the number of respondents was 436. Again, a low-ed value to derive conclusions.

Even so, the base article references “actively support budding crypto-projects” as the focus of their study, but “supporting crypto the most” is a superset, thus we are taking part for the whole, and concluding wrongly what the survey actually states.

[elinafed]

I would not be surprised that there are a large number of cryptocurrency owners in Indonesia, Russia, India and other developing countries. Digital assets are not yet taxed, and are not prohibited, so that users can fear the impact of inflation on their savings. In addition, possession of tokens does not mean their big purchase. Many users get their share of cryptocurrency thanks to bounty campaigns.

[BrewMaster]

first of all you should never waste your time reading stuff that these shitty news sites keep publishing, it only misleads you by giving you false information like this case. the article is basically seeing some newbies who have participated in some of the giveaways and ICO scams and based on that he is concluding that the mentioned countries have a higher "support" for cryptocurrency! which makes no sense. not to mention that there is no explanation of how he came up with the numbers either.

[bimvo]

I would not be surprised that there are a large number of cryptocurrency owners in Indonesia, Russia, India and other developing countries. Digital assets are not yet taxed, and are not prohibited, so that users can fear the impact of inflation on their savings. In addition, possession of tokens does not mean their big purchase. Many users get their share of cryptocurrency thanks to bounty campaigns.

When the political and economic situation in the country creates restrictions to improve the financial condition of a person, he looks for ways to achieve this elsewhere. And in this regard, cryptocurrencies look promising, thanks to the protection of the owner’s identity and low transaction costs. Residents in developed countries have a higher standard of living, so they can be investors in large volumes, and not just try to somehow keep their wallet from financial ruin.

[ovcijisir]

The survey was performed by Even Foundation, and as far as I can interpret, the survey participants are tied to participating in the promotion of their ICO:

Our audience is participants of airdrop, bounty and referral programs. 436 respondents are an active part of this audience. The country breakdown is the following:

~

So in short the most airdrop participants were form Indonesia, Russia and Pillipines. Headline is misleading and serving as clickbait. What a suprise

"Activly supporting crypto projects" means participating in airdrop - nice to know

[ityandsyn]

don't u find it weird? The less eveloped counties support blockchain implementation the most? what is the reason? possibility to earn or to steal?

Link to the article: https://ambcrypto.com/indonesia-russia-philippines-and-india-among-countries-whose-citizens-actively-support-budding-crypto-projects/

      Philippines was included as potential market for crypto, maybe because there's plenty of gamblers in Philippines and they are using BTC or ETH and beside of that information , there's many bounty hunters in the Philippines which we paid by Erc 20 tokens

[gccigng]

I would not be surprised that there are a large number of cryptocurrency owners in Indonesia, Russia, India and other developing countries. Digital assets are not yet taxed, and are not prohibited, so that users can fear the impact of inflation on their savings. In addition, possession of tokens does not mean their big purchase. Many users get their share of cryptocurrency thanks to bounty campaigns.

Possession of tokens often does not shift to more profitable types of activity like trading. The main stream of people receiving cryptocurrency through the bounty, does it for short-term profit. They do not study trading strategies and are not very passionate about analytics, although investing is not so difficult to learn and the taklimakan platform is useful for improving their knowledge of cryptocurrency and trading.

[zernaloot29]

I would not be surprised that there are a large number of cryptocurrency owners in Indonesia, Russia, India and other developing countries. Digital assets are not yet taxed, and are not prohibited, so that users can fear the impact of inflation on their savings. In addition, possession of tokens does not mean their big purchase. Many users get their share of cryptocurrency thanks to bounty campaigns.

Possession of tokens often does not shift to more profitable types of activity like trading. The main stream of people receiving cryptocurrency through the bounty, does it for short-term profit. They do not study trading strategies and are not very passionate about analytics, although investing is not so difficult to learn and the taklimakan platform is useful for improving their knowledge of cryptocurrency and trading.

Cryptocurrencies as a means for microloans and small investments are suitable for many people. And it is a pity that not all countries are so actively implementing services that are able to work with cryptocurrency. After all, it should not be the lot of the chosen people. Digital assets are a new way of saving and additional income, which is especially important when there are no clear guarantees for the economic security of your fiat funds in the country.

[Foxyfell]

What opportunities cryptocurrencies give people are not fully appreciated by the state. While people, especially when they have to work abroad to provide for their family at home, are beginning to use cryptocurrency more. For Russia, this may be particularly specific. Because of the sanctions, some translation services set too much a translation price. And only cryptocurrencies do not limit

[suzanne5223]

It good to see some article wrote about cryptocurrencies adoption and support but the information in the article seems 90% accurate because half of India supports the use of crypto why some part was against crypto because of the different ethnic group they have in India.But, the remaining countries are crypto friendly.

[Slow death]

possibility to earn or to steal?

to answer this question you need to go in these two sections

Announcements (Altcoins)

Tokens (Altcoins)

read for a few minutes and then go to that section:  Scam Accusations

see what countries are the creators of these projects and what have been the success and failure of these projects. You will have the answer to your question.

[MIner1448]

you correctly wrote "less developed countries" the standard of living in these countries is different and most people want to earn money on cryptocurrency, maybe even live on these funds.

[Distinctin]

you correctly wrote "less developed countries" the standard of living in these countries is different and most people want to earn money on cryptocurrency, maybe even live on these funds.

We can't deny that most of the people coming from those countries are considering crypto as the main source of income and their government leaders give the support cause they know that it helps a lot into their people. They don't want to left behind and also to make their life improve. This is a great opportunity why not taking of it?

[eaLiTy]

I don't think taking part in airdrops, bounties, and referral programs is necessarily synonymous with "supporting" crypto.. obviously these countries has the most airdrop/bounty activity, simply because most of the countries listed are 3rd world countries.

That is exactly the truth, participation in bounties does not mean that they are supporting crypto, they are from deprived countries and they are taking advantage of the situation where they can earn more money than their annual salaries from their job than the common individual who earn much less than what they earn through mere bounties sitting at home.

[btc_angela]

don't u find it weird? The less eveloped counties support blockchain implementation the most? what is the reason? possibility to earn or to steal?

Link to the article: https://ambcrypto.com/indonesia-russia-philippines-and-india-among-countries-whose-citizens-actively-support-budding-crypto-projects/

I have my doubts on Russia, I don't know if you have followed their Annoucement since 2017, but it seems they're just riding the popularity of crypto, because they seems to contradicts themselves a lot. As far as those two South East Asian country, they have regulations, but I don't see much adoption, except for Philippines coins.ph which is widely used amongst Filipinos. But if you look closely, there are no merchants or restaurants wherein you can spend your bitcoin in that country.