One of the biggest problem Now with currencies

[jacafbiz]

I don’t know this country and as per my research on google its on the central part of Asia. You can’t do anything about it especially if your own government are not working well to improve the economy. Let’s look at Venezuela, they are still experiencing a hyper inflation and as far as I know, the value of their money became useless and that is the result of a poor service of the government. Digital currencies can be the best option for them, they just need to adopt now.

I thin he got the spelling wrong. The issue with Venezuela and Zimbabwe is the reason why we need to educate people about digital currencies, most of these Fiat is useless including USD because inflation will continue to erode their value with time but Digital currency like Bitcoin has proven to be a good hold and has a good store of value

[longlivecapitalism]

The third world countries such us kyrksitan is that the currencies has no value.
So You Can't Even Exchange them to other currencies... What They do about it?

Its Not spoken problem much but its a problem

With respect, if you're going to pretend to care about this issue I implore you to at least spell Kyrgyzstan the correct way. And their currency is Som, by the way 
Also, that's one reason people from countries with failing economies don't keep their money in those countries' currencies.

[BrewMaster]

currencies will always have value unless that country is wiped from the face of the earth! otherwise as long as it exists they will have a fiat currency and it will have A value. that value may not be as high as other currencies in the world but you still can exchange it with other currencies and for goods as millions of people in those countries are doing day to day.

[teosanru]

The third world countries such us kyrksitan is that the currencies has no value.
So You Can't Even Exchange them to other currencies... What They do about it?

Its Not spoken problem much but its a problem

I think first of all you are talking about Kyrgyzstan. Well it has a well defined currency Pegged at 80 Som to 1 USD. What makes you say it's a worthless currency?

What are you currently using to trade if the currency doesn't have an international rate, can you still use it?

How much is food for example on average per person per month (or how much is a kilo of sugar, flour, potatoes (or equivelant)... Etc?

What's the priblem with not being able to convert? Does no one sell usd for it?

But who will want worthless currencies? 
Actually nobody!

You don't see a world's currency value with respect to other currencies but you see it in respect to the purchasing power parity of that country. If we go by what you say 1 USD = 42000 Iranian Rial but does that makes their currency worthless? No it doesn't because the price level of the economy is adjusted accordingly and 42000 Rial would buy you pretty much the similar things that you could buy using 1 USD. You are comparing 1 ADA to 1 BTC and saying ADA is worthless. Which doesn't makes sense.

[Polo7]

The third world countries such us kyrksitan is that the currencies has no value.
So You Can't Even Exchange them to other currencies... What They do about it?

Its Not spoken problem much but its a problem

I think first of all you are talking about Kyrgyzstan. Well it has a well defined currency Pegged at 80 Som to 1 USD. What makes you say it's a worthless currency?

What are you currently using to trade if the currency doesn't have an international rate, can you still use it?

How much is food for example on average per person per month (or how much is a kilo of sugar, flour, potatoes (or equivelant)... Etc?

What's the priblem with not being able to convert? Does no one sell usd for it?

But who will want worthless currencies? 
Actually nobody!

You don't see a world's currency value with respect to other currencies but you see it in respect to the purchasing power parity of that country. If we go by what you say 1 USD = 42000 Iranian Rial but does that makes their currency worthless? No it doesn't because the price level of the economy is adjusted accordingly and 42000 Rial would buy you pretty much the similar things that you could buy using 1 USD. You are comparing 1 ADA to 1 BTC and saying ADA is worthless. Which doesn't makes sense.

I compare with usd and eur world strongest currencies and most trusted currencies.

[teosanru]

The third world countries such us kyrksitan is that the currencies has no value.
So You Can't Even Exchange them to other currencies... What They do about it?

Its Not spoken problem much but its a problem

I think first of all you are talking about Kyrgyzstan. Well it has a well defined currency Pegged at 80 Som to 1 USD. What makes you say it's a worthless currency?

What are you currently using to trade if the currency doesn't have an international rate, can you still use it?

How much is food for example on average per person per month (or how much is a kilo of sugar, flour, potatoes (or equivelant)... Etc?

What's the priblem with not being able to convert? Does no one sell usd for it?

But who will want worthless currencies? 
Actually nobody!

You don't see a world's currency value with respect to other currencies but you see it in respect to the purchasing power parity of that country. If we go by what you say 1 USD = 42000 Iranian Rial but does that makes their currency worthless? No it doesn't because the price level of the economy is adjusted accordingly and 42000 Rial would buy you pretty much the similar things that you could buy using 1 USD. You are comparing 1 ADA to 1 BTC and saying ADA is worthless. Which doesn't makes sense.

I compare with usd and eur world strongest currencies and most trusted currencies.

You are not getting the point just because a currency is pegged stronger to other doesn't means it is more valuable. The Kuwaiti Dinar is the highest valued currency yet the economy of Kuwait is far behind many. Think of it like this two companies start business with $1000 capital each. One company issues 100 shares of $10 each while the other issues 1000 shares of $1 each. Now how can you compare both companies by saying the $10 company is more powerful? Similarly in case of currencies the shares are the total money in circulation which means the value of single unit is low yet a person has full purchasing power because he has adjusted higher units of that currency. Many countries even slash the zero at the last to correct this thing you are talking about.

[samcrypto]

currencies will always have value unless that country is wiped from the face of the earth! otherwise as long as it exists they will have a fiat currency and it will have A value. that value may not be as high as other currencies in the world but you still can exchange it with other currencies and for goods as millions of people in those countries are doing day to day.

Countries who are experiencing hyperinflation can’t exchange their currency as easy as that since the value of their currency is too small and maybe no one wants to exchange that currency into something valuable. OP has to find a way to exchange their currency even if it took many transactions, that’s the only way for them so they can still invest in other market and with bitcoin. Cryptocurrency can’t help them without the help of their government, if they adopt cryptocurrency then it can be a good start.

[Swopon]

The third world countries such us kyrksitan is that the currencies has no value.
So You Can't Even Exchange them to other currencies... What They do about it?

Its Not spoken problem much but its a problem

Third world countries are mostly known for their many problems like unemployment, lack or education system, not well communication system and so on. Mainly indicates the problems and issues. This type of problem is rare because I am also from third world country but in here I can exchange cryptocurrency to local money.

[stompix]

What's that country?

Well, seeing who the OP is, I assume he is talking about Kekistan
Again, the whole thing is pretty stupid even if we talk about Kyrgyzstan, their currency has only lost 50% against the USD in the last 20 years, and it's actually on par with the value in 2016, so you can't claim it's worthless.

You are not getting the point just because a currency is pegged stronger to other doesn't means it is more valuable. The Kuwaiti Dinar is the highest valued currency yet the economy of Kuwait is far behind many.

Far behind? They have a GDP per capita on par with Spain, is Spain also far behind others? In terms of GDP PPP they are even matching Switzerland.

I think first of all you are talking about Kyrgyzstan. Well it has a well defined currency Pegged at 80 Som to 1 USD. What makes you say it's a worthless currency?

The som is not pegged to the USD, where did you get that information?

[fiulpro]

I believe the country you are talking about does have serious issues but at the same time I believe :

In the future they would improve their situation for sure.

If a country is dealing with poverty at this level , they do for sure needs a lot of work, support and at the same time they need good governance. Until and unless the government and the people work together to eradicate this from their country I believe they still would have this problem in the near future.

There are other countries like you mentioned where one person from each family has to go to work abroad since the country's own value is very low. Plus there the prices of something as simple as *toilet paper are like half the salary they pay to their workers , it was a pretty amazing documentary , I would try and link it down below if I find it again.

But I believe the country needs:
Education
Good governance
Time
Support

[palle11]

currencies will always have value unless that country is wiped from the face of the earth! otherwise as long as it exists they will have a fiat currency and it will have A value. that value may not be as high as other currencies in the world but you still can exchange it with other currencies and for goods as millions of people in those countries are doing day to day.

Yes take example with the Zimbabwe dollar , despite the level of being devalued as it is said but the country is still making the use of it and also making there little international transaction and exchange. A country must have there own local currency to trade and exchange for things.

[J.Amador]

I do not know in your country, maybe they do not want your money spread in other country or maybe they want your money to be worth it in your country not in other country.

[Harriti]

That is also the reason why there are many countries in Africa participating in the crypto market.  Only in Africa is the fertile ground for the crypto market, where there are many countries with very low value for money.
But in my opinion, that's not enough.  For a strong financial market, it is necessary to have the presence of 6 continents in the world, not just Africa. The crypto market needs legitimate altcoins and can cater to the needs of many countries, then our crypto market becomes more valuable.
then the crypto market becomes the official financial market, then the volume is high and we will be the winners.

[SquallLeonhart]

The third world countries such us kyrksitan is that the currencies has no value.
So You Can't Even Exchange them to other currencies... What They do about it?

Its Not spoken problem much but its a problem

There is nothing that you can do about a situation like this. This is a country issue, and it’s not something that you can solve on your own, so relax and look for ways to solve your own personal problems, since you’re not in a position to handle such a situation.

As for people in the comment that are saying cryptocurrency is going to save you, please how exactly is that going to happen? First of all where are you going to get that money to invest in cryptocurrency, because cryptocurrency is not free money, you either have to invest in it or you will have to work for it, there is no free money here. So the answer is that you will have to work to make money. I will advise you to take online jobs that will help you earn some dollars.

[kawetsriyanto]

The third world countries such us kyrksitan is that the currencies has no value.
So You Can't Even Exchange them to other currencies... What They do about it?

If it is about exchanging the country's currency into others, it may relate to the value of the currency itself if brought to overbroad. but, if you are living in that country, you can still use it and have a value of the currency right?
If it is related tot he cryptocurrencies, we may also not know whether it is available and legal in that country or not. But at least, it can be one of the alternatives if using crypto for transactions around the world. but, ensure that this is legal.

[NIPILIYA]

So You Can't Even Exchange them to other currencies... What They do about it?

This is a hard situation for a country and the citizen. This means the poverty level there will be very very high and GDP will be low because production will be far from the people. The people there will have a bad time to life there. I think if the government is not corrupt, they can't apply for loan from the international groups they belong to start developing the country by investing in the sectors of the economy.

Lol with what You invest?  If the currency is all most worthless?  
They need to Exchange currency to Foreign currency but who would take that?  

Solution for them  sell cheap Land Property goods from their Country to Foreign investors to get usa or eur forget about  their own currency not sure If anyone want that currency maybe ill buy from them with extra cheap price about  5 usd  for  5 pallets of stacked their currency


For them best Solution is to give their land resources or Property to get USA dollars or eur currency    That's only option I see here

What They do about it?

Its Not spoken problem much but its a problem

[akram143]

The third world countries such us kyrksitan is that the currencies has no value.
So You Can't Even Exchange them to other currencies... What They do about it?

Its Not spoken problem much but its a problem

If it doesn't have any purchasing power then it is not really a currency.But is it possible for a currency value reaches zero? There are currencies got extreme low purchasing power but still they got some value and government is not going to use bitcoin as their main currency if that is the case.

[Ayiranorea]

Already country currencies have gone without any exchange value. This is all because of the improper economic plan and the lack of proper execution of economic policies. Countries like Zimbabwe Venezuela already into the same trouble. Expert suggested adopting Bitcoin as the the legal currency for this countries. No no government is ready to do it. Maybe in future some countries love will officially consider it.

[Eternad]

The third world countries such us kyrksitan is that the currencies has no value.
So You Can't Even Exchange them to other currencies... What They do about it?

Its Not spoken problem much but its a problem

Third world countries are mostly known for their many problems like unemployment, lack or education system, not well communication system and so on. Mainly indicates the problems and issues. This type of problem is rare because I am also from third world country but in here I can exchange cryptocurrency to local money.

I'm even in 3rd world country but able to use cryptocurrency as well our fiat still have some value. The government should act accordingly and know what is required to do. The people should prevent voting officials with only have self interest and not capable of handling the issues as well no aim of bringing theirr economy back and helping their people to survive even if it means they will start from a scratch.

[bayu7adi]

...I will advise you to take online jobs that will help you earn some dollars.

Yes, that is true. Many new people come to this forum for money by doing some of the tasks provided. I think this forum is very helpful for the existence of advertisers and publishers in making economic relations in cyberspace.
I agree with your statement in the first paragraph. Although there are those who do not like the existence of this paid campaign, the admin and moderators do not object to the existence of this advertising ecosystem. In other words, bitcointalk still allows us to do business through advertising campaigns held.

We don't need to think about the condition of a country's currency, if we haven't felt success ourselves. The government is paid for this, one of which is to improve the country's economic conditions.