Russia, Philippines, Indonesia and India support crypto the most

[shoreno]

i thought russia , india and indonesia were ones reject and restrict cryptos on thier country  ? but i only heard positive news regarding cryptos on the country of the philipines   .

Firstly, I don't know what you mean by less developed, but I'll just consider it as a typo.

i dont think its a typo because its written correctly  .  less developed means  , they are not yet or not well developed   . but i dont think that the countries that he mentioned are less developed   .  there are infact more countries out there that is less developed but thats not an issue to not adopt crypto  .

[EdenHazard]

I live in developing country and I feel in the side of technology we have been lagging far behind from developed countries. We were always late to adopt/knowing something new related to technology so as our mindset just stuck and only accepted everything that has been popular.

These things are wrong, we can't rely on it because we have a capability to make something new for our country. Other than that, the government has been aware of that and make a decision to try when they find something new related to technology they will regulate it with some considerations.

Yeah, as you may know technology has been changing most aspects especially in the field of economic and this thing which can make my government had a decision to accept cryptocurrencies. There is a lot of start up also who popping up and use blockchain as main purpose, I hope it will grow up.

[serjent05]

Firstly, I don't know what you mean by less developed, but I'll just consider it as a typo.

Probably he is saying developing country, saying 3rd world country or less developed is kinda harsh i guess .

Well, Philippines at first were hesitant about cryptocurrency, I read some news about the government warning crypto investors to be cautious in participating in such activity, but then later the government seems to acknowledge Bitcoin as mode of payment and just the previous year  a government institution (CEZA) wanted to take advantage of the current blockchain tech to enhance the country's fintech.   I do not think that government of a developing country accepted cryptocurrency because they wanted to steal, I think they saw the potential of it helping the country's economic growth.

[felicita]

yes maybe the peoples from there have a huge interest to bitcoin and altcoin.
But the governments will not go with crypto.
More chances to get accepted fully in Europe i guess.


regards

[hatshepsut93]

There's nothing weird with cryptocurrencies being popular in developing countries, because historically they were booming, so it was a chance to make some good money, maybe even get yourself out of poverty. People here used to tell signature spammers and bounty hunters to find a real job, but in 2016-2017 those activities were easily more profitable than high-paying jobs in developing countries.

But there's also another interesting observation - all those countries have a not bad basic education, younger people know English and Internet connection is widespread and cheap - those factors also contribute to use of cryptocurrencies, if you look at the poorest countries, people don't use as much crypto because they lack some of those things.

[Upgate]

The adoption of cryptocurrency in countries mentioned is lovely. I think is quite ok for them  due to their population. At least those unemployed or employed can get themselves involve in bounties to get payed. If other countries can support crypto there will be steady flow of money to eradicate poverty

[Nhebu]

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.

I agree. Its not yet an intense proof that those following countries mentioned were clearly supporting crypto. May be, it happened by chance that they are both underdeveloped. Although, there are also crypto enthusiast there especially in the Philippines which is a good sign that they are open for the adaption of bitcoin.

[deadsilent]

I'm at the Philippines and I could say that cryptocurrency here is not that much regulated as other countries like US and China. There's no certain laws about imposing of tax here, unless you declare it to Internal revenue. The growth of cryptocurrency here is not extensive like other developed countries. Actually, more  people are pessimistic about using cryptocurrency because of bad publicity made by media's here. Me as a cryptocurrency enthusiast, cryptocurrency can help people out of poverty. But there are risks need to consider.

[Theb]

Lol did this EVEN Foundation conduct their survey within BCT members? Because the survey toppers are also the ones who have the most active local board here in the forum. In terms of online activity when it comes to bounties, hyips, and other methods of earning crypto outside the scope of it (mining, trading) then there is no doubt that these countries would be leading the race. But in terms of countries having a crypto-friendly government with regulations in place we might see other countries appearing in that survey.

[AlaEhBTC]

Yup, crypto is well supported here in the Philippines and some banks are supporting it too. In my situation, more people are asking me on how to acquire bitcoin and planning to hold them as investment.

[crypto1987]

I believe that the increase in the demand for cryptocurrencies in certain areas and countries is due to the popularity, if several of your friends and neighbors are investing, most likely you will also be attracted to invest and in the end you want the majority of the population in the world participate in order to enjoy all the benefits that cryptocurrency and blockchain technology offer.

[shimbark123]

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?

I don't know why are you so damn racist regarding this. Just because a country that is part of a third world supports blockchain, you will call it weird and their main goal is to steal?  It's more of, this could be an opportunity that we can try. 

[Rossy Akbar]

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)

Well, In Indonesia as well the Rupiah was to weak, don't know exactly what the reason is, and also looking for job was so hard, so it might be it was the reason why some Indonesian know and learn about bitcoin, but I think the popularity of bitcoin here wasn't so familiar, because I can see not many Indonesian also trust in digital currency, sometimes they just say you just dreaming with this stuff.

[Docnaster]

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/

It is weird and even if the article suggest so I wouldn't trust just everything I read. It makes no sense for these countries to lead the crypto, I mean we all know it started it countries far from these. I'm sure these developing countries are also using cryptocurrency but no way near the level of the power leaders such us US, UK and other European countries.

[Duzter]

Russia was once against the usage of cryptocurrency, further it started to adopt the blockchain technology to improve its financial infrastructure and management needs. This is considered a positive support for Cryptocurrency and has got more usage. Phillipines and Indonesia too has got increased userbase even after several scams being promoted in the name of bitcoin. India isn't still clear in its stand compared to Philippines where the government itself much supportive to cryptocurrency usage.

[serjent05]

im in the Philippines and I would say that my country is definitely a supporter of cryptocurrency. Even though we still haven't make laws like taxation about it, the government is still making its citizens free for using it. Even SEC and Central Bank has also see supporting crypto. I know that someday, the country will take this seiously but for now, I enjoy this kind of freedom.

Despite of many scam investments happening in the Philippines, i still appreciate the support of the government in cryptoinvestment, they are open about it and very supportive that’s why we enjoy bitcoin literally. I’m planning to travel the world someday and I wish to use my cryptocurrency for an easy transactions i hope more country in Asia will support cryptocurrency.

It is not the fault of the crypto community why there are lots of scam investment in the Philippines, and I am thankful that the government are broad minded about it.  Even before the news about cryptocurrency and cryptocurrency investment are known, many fraud and scam company launched  several kind of investment where fiat currency is solely involved.  The government knows it and I believe they also anticipated that these con-artist will take advantage of this non-regulated crypto industry that is why the choose to implement regulation than banning it not to only limit the scam occurrrence but also take advantage of the benfits this trending technology give.

[NathanJB]

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/

It is weird and even if the article suggest so I wouldn't trust just everything I read. It makes no sense for these countries to lead the crypto, I mean we all know it started it countries far from these. I'm sure these developing countries are also using cryptocurrency but no way near the level of the power leaders such us US, UK and other European countries.

The article is a garbage, so is the OP.

"Less developed countries support the most...?" In the first place, Russia is not less developed at all. And "the most"? That's really weird on you to even thought of it. Have you realized how much Bitcoin is thriving in Singapore or Korea or Japan in Asia alone? And how about "to steal"? Supporting blockchain implementation to steal? What planet are you coming from, OP?

[Sithara007]

Another clickbait article. The support is for Blockchain and not for the cryptocurrencies. And both these things are very different from each other. The promotion of Blockchain technology doesn't necessarily mean that cryptocurrencies may get legitimacy. On the other hand, countries such as India are planning to ban cryptocurrencies, as per reliable news reports.

[swiftbits]

So they based it on the bounties most of them are in the third world county and the cost of internet also affects the number of users, opportunities outside is low so jumping in online might give you some goods even a small amount would be enough as an additional income. Earning opportunity is the only reason for that.

[emberbekas]

The article is a garbage, so is the OP.

"Less developed countries support the most...?" In the first place, Russia is not less developed at all. And "the most"? That's really weird on you to even thought of it. Have you realized how much Bitcoin is thriving in Singapore or Korea or Japan in Asia alone? And how about "to steal"? Supporting blockchain implementation to steal? What planet are you coming from, OP?

Lol, why does the OP mention the word 'to steal'? Is that so bad when people from developing countries come to new types of technology? Indeed, people from these countries, especially Indonesia, came to crypto to get extra money. They can do many things such as trading, doing online jobs, bounty and so on. But to steal? How will they, as the whole, do something like that? Crimes that occur , to steal in this case, can be done by anyone, no matter where they come from.