The Role of Bitcoin in Developing counties to accelerate Growth process

[Sayeds56]

The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies. They can be very helpful to provide access to  financial services to  community at large. As they are considered  a medium to support growth Process by providing better traceability of funds and help people to escape poverty.

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[Lorence.xD]

The traceability aspect is debatable. The problem with bitcoin though is that it will be difficult to access in low income area that really needs that financial upbringing. I guess if it helps other people, this people will give back to community when they become well off with the help of bitcoin.

[GreatArkansas]

(....)
help people to escape poverty.

I don't think Bitcoin got anything to do to help people escape poverty, not as long as they bought Bitcoin and threat it as an asset or investment, but overall I really don't see any aspects that it can help people to escape poverty. But in terms of financial services, yes Bitcoin is really capable of that, which is the most goal of Bitcoin having the freedom and we will have our own bank in our pockets.

[Serious475]

(....)
help people to escape poverty.

I don't think Bitcoin got anything to do to help people escape poverty, not as long as they bought Bitcoin and threat it as an asset or investment, but overall I really don't see any aspects that it can help people to escape poverty. But in terms of financial services, yes Bitcoin is really capable of that, which is the most goal of Bitcoin having the freedom and we will have our own bank in our pockets.

Yes, bitcoin needs an investment so that you can earn but you can start on some forums and campaigns to have a enough starter funds so that you can invest on your own bitcoin. We are also talking about the role of bitcoin in developing countries so we should include all the people here because even if we say that your country improves a lot but the poverty rate is still big, we cannot consider it as development. Bitcoin can help all the people by removing the risk of hold up because you can keep your money within a software so that they cannot access your money.

[Charles-Tim]

I don't think Bitcoin got anything to do to help people escape poverty, not as long as they bought Bitcoin and threat it as an asset or investment, but overall I really don't see any aspects that it can help people to escape poverty. But in terms of financial services, yes Bitcoin is really capable of that, which is the most goal of Bitcoin having the freedom and we will have our own bank in our pockets.

Assuming, developing countries have what it takes to mine bitcoin, with that, more income people of the countries will earn. The miners will convert some of the bitcoin to fiats and use it to buy something in their community, thereby helping others in the community. If people of developing countries have invested in bitcoin as far back as 2015, it would have brought them earnings too, it will surely affect their counties positively, how about the custodial services like exchanges, if some developing countries have it, it will help them to provide employment. Bitcoin brings wealth to nations, if people of the developing nations embrace it, it will bring them wealth.

[Wexnident]

The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies. They can be very helpful to provide access to  financial services to  community at large. As they are considered  a medium to support growth Process by providing better traceability of funds and help people to escape poverty.

Again, Bitcoin isn't a magic drug that someone can use to escape poverty. It just opens up more opportunities that people can take advantage so as to combat poverty. Used intelligently, people can avoid being taken advantage of insane fees that they spend for one. Bitcoin itself is an opportunity, though not only for earning, but also losing money, specifically trading. That's for another matter though so let's leave that on one side. Traceability of funds doesn't really help in providing opportunities, more like it just shows people where funds go to and from. It can be used in various ways, but the best term to describe it with is used for either safety and security and the like.

[ReggieBush]

I don't see the correlation between the two, personally. Just as fiat doesn't inherently accelerate growth, bitcoin is the same. Infact, if you're poor you're likely to have no access to computer/internet, so fiat in that case would be the growth accelerator.

[Sayeds56]

I don't think Bitcoin got anything to do to help people escape poverty, not as long as they bought Bitcoin and threat it as an asset or investment, but overall I really don't see any aspects that it can help people to escape poverty. But in terms of financial services, yes Bitcoin is really capable of that, which is the most goal of Bitcoin having the freedom and we will have our own bank in our pockets.

Assuming, developing countries have what it takes to mine bitcoin, with that, more income people of the countries will earn. The miners will convert some of the bitcoin to fiats and use it to buy something in their community, thereby helping others in the community. If people of developing countries have invested in bitcoin as far back as 2015, it would have brought them earnings too, it will surely affect their counties positively, how about the custodial services like exchanges, if some developing countries have it, it will help them to provide employment. Bitcoin brings wealth to nations, if people of the developing nations embrace it, it will bring them wealth.

very well explained. I totally subscribe to your views that it helps poor nations to address issue of poverty in many ways by mining it and by providing easy access to Financial services through dApps and dApp can be installed on a simple smart phone with internet access and more than 50% population in Asian countries use smart phone. Please correct me if my numbers are wrong.  .

[Alucard1]

There are still many things that they can do to prevent poverty and cryptocurrency is one of which as long as they use it for investment and trading purposes which is a risky one, so the question here is that are they going to take the risk or not, for those people who are unfortunate living, I don't think that they ate well with these things because what if they have lost? it would be a big thing for them, they should use it for their daily needs and not to take the risk. Investment and trading are good if you have extra money and you have also a source of income but if you don't have them then I don't think that it would be advisable.

[concept2]

It is a hard task 

The lacks of resources and facility prevent them from achieving this technologies. There are more issues troubling the government. To my knowledge, poverty is the big problem to these countries. How can you build a blockchain system while more than half of the people living under condition. They do not even have smartphone to access the system or to make a simple payment

The government is the one in charge for everything and they need to impose a new correction path in order to stimulus. Otherwise, they never reach the point where their countries can integrate bitcoin or blockchain

[BrewMaster]

no it is not. bitcoin was not created to make people rich and "escape poverty". that is the fantasy of some newcomers that don't last long either because at the first sight of volatility they panic sell at a big loss and go away for good.
as a result bitcoin will not help the growth of any developing countries. but it will help a lot of individuals to reach freedom from the corrupt banking system by switching to bitcoin. in some third world countries this corruption is more palpable although it may be a lot more serious in developed countries

[tsaroz]

Developing countries are taking bitcoin as a risk rather than an opportunity. It's not exactly due to the nature of bitcoin but their own failed plans and regulations. A large number of rich people in developing countries are buying bitcoins often at higher price. It's mostly because they don't trust the money and economy there and they don't trust their own government. This creates and exodus of capital from the country where there's absolutely needed. For developing countries to stop it, they should promote capital investment and ease business in the country rather than making business and lives of general public miserable with excessive taxes and low facilities.

[MusaMohamed]

The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies. They can be very helpful to provide access to  financial services to  community at large. As they are considered  a medium to support growth Process by providing better traceability of funds and help people to escape poverty.

Growth in financial or community factors won't be reached because of bitcoin or other cryptocurrencies. The growth is made up of many things. Cryptocurrencies only help community with its convenience and privacy or anonymity.

I can not believe bitcoin or cryptocurrencies can bring prosperity or wealth to everyone who invest in it. They can lose money by margin or by scam projects or ponzi.

[dothebeats]

The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies. They can be very helpful to provide access to  financial services to  community at large. As they are considered  a medium to support growth Process by providing better traceability of funds and help people to escape poverty.

This is too far-fetched. You still need a considerable amount of resources in order to get bitcoin, especially at its current pricing. Perhaps those citizens capable of allotting a percentage of their earnings to bitcoin or just savings in general would benefit from it, but the majority of these populations from developing economies have barely enough money to keep things going for themselves. Bitcoin is supposed to be safeguarding your wealth against inflation, and keeping your own money yourself instead of letting others do it for you, but it was never an answer to poverty, moreso a tool to cure such since it isn't meant and created to be one in the first place.

[wack slacker]

Bitcoin is more like an investment than a popular everyday currency. Developing countries should print their own money and create value with economic self-control rather than the introduction of Bitcoin in their economies. For me any economy comes up from delicate exploitation, printing money is also a form of exploiting workers but it is also a way for a nation to rise if it is well managed.

[avikz]

The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies. They can be very helpful to provide access to  financial services to  community at large. As they are considered  a medium to support growth Process by providing better traceability of funds and help people to escape poverty.

There is no role of bitcoin in developing countries to accelerate growth process. Absolutely nothing other than making few people rich! Or unless someone sets up an expensive mining operations to mine bitcoin for the community which is highly unlikely to happen!

Also traceability isn't easy on bitcoin. We know that everything is recorded on blockchain but tying the loose ends is not a job that common man can pull up!

Bitcoin is only good to those people who have adopted it early. Nothing else really!

[n0ne]

Bitcoin is an revolutionary innovation for the financial system. When we talk of developed countries, almost every country will be technology wise highly developed. The flow of money getting traced will eliminate the money laundering and other forms of money getting accumulated. This way Bitcoin is highly efficient on some parameters, and found inefficient on several other factors. Upon the same bitcoin into developing countries are growing high and high.

[hatshepsut93]

Bitcoin can't really help developing countries much. Volatility and potential for sudden price drops makes it very hard for poor people to use t as a store of value. Poor people just can't afford to lose 50% of their value in short time. And high transaction fees, which happen from time to time, make it hard to use as a currency. People in developing countries that suffer from inflation always choose US dollar as a store of value, because it's more stable than anything else that they can afford.

[plvbob0070]

It's hard to expect most people from developing countries to adopt bitcoin since there are other circumstances like the lack of awareness and knowledge about it. Also, is a situation where people are struggling financially, they often lack basic education such as reading and writing so it might be kinda hard for them to understand how bitcoin and crypto works, and this is why instead of getting opportunities, they end up getting scammed. But surely, bitcoin may help developing countries with opportunities with financial services that they can't have, and technological advancement. But not to the extent that bitcoin will help the majority of people to escape poverty.

[CyberKuro]

The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies. They can be very helpful to provide access to  financial services to  community at large. As they are considered  a medium to support growth Process by providing better traceability of funds and help people to escape poverty.

You should include the source: https://philippsandner.medium.com/the-impact-of-crypto-currencies-on-developing-countries-dce44c529d6b

"Crypto currencies have widely been considered as an instrument to support the growth process in developing countries."

"as they can be considered as a medium to support the growth process in developing countries by increasing financial inclusion, providing a better traceability of funds and to help people to escape poverty (Ammous, 2015)."

It's hard to expect most people from developing countries to adopt bitcoin since there are other circumstances like the lack of awareness and knowledge about it. Also, is a situation where people are struggling financially, they often lack basic education such as reading and writing ~~~

it sounds that you belittling most people in developing countries, lack of education? can't even read and write? Do you think developing countries means primitive countries containing cave people or those who lived only in the forest or in the desert? Although many developing countries do not have education that is evenly distributed throughout the country which causes a gap between people who are educated and those who do not have the opportunity to attend school, but most people in those countries can still read and write.

[Silberman]

(....)
help people to escape poverty.

I don't think Bitcoin got anything to do to help people escape poverty, not as long as they bought Bitcoin and threat it as an asset or investment, but overall I really don't see any aspects that it can help people to escape poverty. But in terms of financial services, yes Bitcoin is really capable of that, which is the most goal of Bitcoin having the freedom and we will have our own bank in our pockets.

Agreed, I can understand why people think that such an innovative technology can be used for change, but bitcoin by itself cannot do anything like it, bitcoin is just another form of money, and so far just looking at its characteristics is the best one invented so far, however it is up to each person to learn how to do the most out of it, and if they can’t then that is up to them, all of those dreams that people have that somehow bitcoin is going to be able to create a more equal world when it comes to the distribution of wealth are just that, dreams, just look at the size of the whales compared to the rest of the people in the market and soon those delusions will stop as it is obvious bitcoin will never achieve anything like that.

[CarnagexD]

It has little to no traction to countries with low technological advancement, even worse for countries where there's no internet. It tracability is fine up to some degree. It cannot be regulated therefore no profitability can be gained from it in the government's perspective. Bitcoin may indeed be profitable as a standalone but it cannot lift an entire country's economy unlike resources and commodities unfortunately.

[mangsitin]

You have to look at the country of Venezuela, when the world economy is not clear.  Venezuela uses cryptocurrency as a solution to the economic crisis by backing up the country's finances.  The digital currency, known as the petro, which was later followed by the sovereign bolivar, is claimed to be the first in the world to be used to support the oil-producing country's physical assets.  and bitcoin also came in early January when the world was in crisis. In the midst of these crisis conditions, people wanted another currency as an alternative.  The emergence of Bitcoin, Ethereum, and various other cryptocurrencies has slowly continued to grow in terms of price and market capitalization.  This evidence shows that people are increasingly looking for cryptocurrencies as alternatives during times of crisis.

[TopT3ns]

Bitcoin ia nothing but a currency, it cannot change a country's economic growth that's the responsibility of you government their the one's in charge to build infrastructures and financial support to the poor. Bitcoin is only an alternative to be used for transactions or investment. Unless they completely changed the system.

I think bitcoin will not regulate the economy of a country but with bitcoin I think it still has the potential to become a digital currency that can be used as a legal alternative payment for a country because actually bitcoin is only used to help us make transactions that can provide convenience and security higher.

[verita1]

Let's take an example of a small business that wants to sell smartphones and needs capital. The company would have to go to the banks to apply for a loan. The owner of the company gets the loan but it is not enough to start his business for which he decides to buy Bitcoin with that money. When the company saves enough to buy its merchandise, it puts its smartphones up for sale and asks to be paid for with Bitcoin and crypto. This entrepreneur does well in his business so he can hire more people and expand his business in several cities of the country.
The paradigm is in the good work of people in adopting Bitcoin and making their projects and the opportunities they have come true.

[Sayeds56]

Let's take an example of a small business that wants to sell smartphones and needs capital. The company would have to go to the banks to apply for a loan. The owner of the company gets the loan but it is not enough to start his business for which he decides to buy Bitcoin with that money. When the company saves enough to buy its merchandise, it puts its smartphones up for sale and asks to be paid for with Bitcoin and crypto. This entrepreneur does well in his business so he can hire more people and expand his business in several cities of the country.
The paradigm is in the good work of people in adopting Bitcoin and making their projects and the opportunities they have come true.

You have proved the point with good example. Historically developing nations have suffered a lot because of their weak currencies because their value declines with rampant inflation. By adapting Bitcoin as another currency which will not be influenced by the changes in their economy. When consumer confidence is high and peop0le feel safe safe to spend money, certainly, the economy start growing.

[uneng]

Bitcoin ia nothing but a currency, it cannot change a country's economic growth that's the responsibility of you government their the one's in charge to build infrastructures and financial support to the poor. Bitcoin is only an alternative to be used for transactions or investment. Unless they completely changed the system.

But a country which is friendly to bitcoin is a country which is also open to technology and innovation.
It means this country will have the attention of entrepreneurs, developers and investors from different countries who also have interest for bitcoin. If we are talking about a developing country it can boost its economy and population welfare for sure. You are right when you say it's responsability of the local government to create the best possible atmosphere for the local development, so it's also the government's duty to have a friendly behavior towards bitcoin or not.

[bryant.coleman]

First of all, we need to agree that Bitcoin is now mostly being used as a speculative investment asset, rather than as a currency. And in developing countries, there is a lot of scope because most of the available assets are overpriced. For example, the real estate is priced at upto 5 times its fair valuation and P/E ratio for most of the listed stocks is above 20. Bitcoin gives an option for the citizens, to invest in an asset that is currently under-priced.

[darewaller]

The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies. They can be very helpful to provide access to  financial services to  community at large. As they are considered  a medium to support growth Process by providing better traceability of funds and help people to escape poverty.

I don’t know about the one of escaping poverty, can Bitcoin really help people escape poverty? Since it’s an investment there is no guarantee you’re getting profit, it can take long before you make profit. I will say that the main part is transaction, it eases transaction, although there have been complaints about it, but I heard that during the last protest in Nigeria that their central bank blocked the accounts of protesters and they had to make use of Bitcoin to support the protesters.

So, that’s one of the areas that Bitcoin is being helpful. As for making people rich, first you need to have money you’re going to invest in Bitcoin, and when you do that, you will need to have patience for the price to go up.

[Subbir]

Bitcoin will need to be introduced worldwide to accelerate the process of increasing its role in development counties. Although Bitcoin is a valuable asset for investment many countries have not legalized saying they cannot control Role of Bitcoin in Developing. Bitcoin helps a lot in the development of countries that deserve support helping to improve the country's economy with real estate. Bitcoin is open to transactions but the government does not support bitcoin in the public interest. If the government uses bitcoin for welfare will not take long for bitcoin to become a developing country.

[ChrisPop]

Blockchain is a technology that can help countries get out of poverty, but for that to happen the leaders must be willing to do what it's best for the country.

Country-wide implementation is very hard even for well-developed states, however with small steps it can be an attainable goal. If I were a politician I would put so much more emphasis on tech.

I've recently learned about some automation cases based on RPA technology and I must say it is amazing how much time can be saved. Blockchain can not only save us time and money, but add a whole lot of transparency on top of those.

[Reatim]

Blockchain is a technology that can help countries get out of poverty, but for that to happen the leaders must be willing to do what it's best for the country.

Exactly because without adoption?blockchain will be nothing as the support of each government is a must for the technology helping the people.

Country-wide implementation is very hard even for well-developed states, however with small steps it can be an attainable goal. If I were a politician I would put so much more emphasis on tech.

there is noneed for countrywide implementation but at least each government will accept and let their people and agencies to at least have a choice to let blockchain enter or not.this is already a big help for adaptation .

I've recently learned about some automation cases based on RPA technology and I must say it is amazing how much time can be saved. Blockchain can not only save us time and money, but add a whole lot of transparency on top of those.

transparency and privacy in which we are all seeking from the very beginning .

I might say let the Schools from colleges to universities has Block chain subject.

[AakZaki]

but it is a pity that some developing countries still do not fully accept bitcoin. This relates to the issue of regulation given by developing country governments. For example, in Indonesia, Bitcoin is legal and allowed only as a commodity trading and is not allowed to be a legal means of payment for several reasons about its high volatile risk.

[AniviaBtc]

Bitcoin is the answer when inflation occurs during economic crisis in this pandemic.

Most of the countries are relying into it because they know the essence of bitcoin in their economy.

Many countries already engaged in the use or legalization of cryptocurrency in their country and that is a good sign that bitcoin is approaching the mainstream. I just don't understand why bitcoin is still underestimated in some countries and maybe that's the reason why they are struggling so hard with their economy.

[Tahsin Kabir Kollol]

The role of cryptocurrency in economic growth in developing countries can be very important if it can be implemented in the right way. As Bitcoin is considered an acceptable medium for many transactions, it is possible for any country or organization to buy and sell products or services, improve business, and develop through the use of sophisticated technology. On the other hand, if it becomes a widely accepted medium in the world, it will facilitate the economic development of developing countries. In addition, countries with various economic sanctions can easily use Bitcoin to trade with the outside world through the use of Bitcoin.

[oprahwindfury]

Truely, it helps a lot. Bitcoin and Other crypto currencies are helping people to earn and  find the way of living life. Every kind people whose are interested and spend time to crypto can get benifit and of cours it is helpful for the economy. Because some howit is using  in the country and government is getting tax.

[7788bitcoin]

The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies.

If you can call the growth in terms of transparency then i would say it will help a country develop by eradicating corruption and have a transparent process.

They can be very helpful to provide access to  financial services to  community at large. As they are considered  a medium to support growth Process by providing better traceability of funds and help people to escape poverty.

Bitcoin can help people escape poverty if they are willing to take advantage of the free market opportunity bitcoin and the cryptocurrency market is providing and if you are able to do that then sky is the limit but to reach those poverty stricken places it will take a long time and the local government has to intervene in giving them basic internet facilities and so on for that to happen.

[senya-com]

Developing countries have really big troubles with bribery and crime, so in this context cryptocurrency technologies have advantages: at first transparency - any transaction is trackable, so any corruption schemes are at a serious risk of being tracked down by the officials. But, on the other hand, usual transactions are at a risk of being tracked by criminal monopolists and corrupt servicemen. So, developing countries with strong anticorruption authorities can try integrating cryptocurrencies into their financial system, while states with strong business-crime-authority coalitions will definitely be ruined totally with crypto, which will in this context just help criminal masterminds and bankers to control the whole countries' financial structure.

[bitbunnny]

I don't think that Bitcoin or any other crypto can help economy of any country if it's not officially introduced into economy and financial system and regulated. As far as I know no county has done that.
However, Bitcoin can help fight poverty on an individual level and every person, no matter if lives in developed or underdeveloped county, can with help of Bitcoin improve personal finances or even find some crypto related job.

[Sayeds56]

The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies. They can be very helpful to provide access to  financial services to  community at large. As they are considered  a medium to support growth Process by providing better traceability of funds and help people to escape poverty.

Bitcoin have an bigrole on developing country like my country phillipines our citizen are so illerate about the bitcoin they didn't know that it can help in financial problem. Every individuals can earn money in bitcoin because it is tax free and it can help us to grow our money.

Very well said. I totally agree with you that literacy is primary requisite to understand functionality  of Block chain and its role in day to day transactions. Philippines are well literate. I have worked with them for long time in Middle East. I am quite sure BTC will help to improve their economy  by accelerating country's growth rate.

[aysha9853]

I'm not really sure what you are saying, bitcoin is not a financial service and bitcoin is currently already high in price, how can it help the poor? maybe what you mean is to use blockchain, I think blockchain needs to be used in developing countries which currently have a lot of corruption practices

[hahay]

I'm not really sure what you are saying, bitcoin is not a financial service and bitcoin is currently already high in price, how can it help the poor? maybe what you mean is to use blockchain, I think blockchain needs to be used in developing countries which currently have a lot of corruption practices

Yes, there are two kinds of discussions that seem to mean about blockchain and bitcoin but I guess the meaning of helping the poor might be about airdrop programs or programs like that that can make money without having to spend a lot of money. Apart from that, blockchain itself has indeed been widely adopted for faster data collection and it is not only related to finance, so blockchain does speed up the growth process but about bitcoin, I don't think so.

[Sayeds56]

The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies.

If you can call the growth in terms of transparency then i would say it will help a country develop by eradicating corruption and have a transparent process.

They can be very helpful to provide access to  financial services to  community at large. As they are considered  a medium to support growth Process by providing better traceability of funds and help people to escape poverty.

Bitcoin can help people escape poverty if they are willing to take advantage of the free market opportunity bitcoin and the cryptocurrency market is providing and if you are able to do that then sky is the limit but to reach those poverty stricken places it will take a long time and the local government has to intervene in giving them basic internet facilities and so on for that to happen.

Absolutely right. Government has to play its role to provide by providing internet facility not in urban areas but also in villages  and primary and up to 10th Grade education should be made free so that poverty stricken communities can have access to this great opportunity which is knocking our doors. If all thaw happens,  then in many Asian and African countries poverty can be escaped. 

[CyberKuro]

but it is a pity that some developing countries still do not fully accept bitcoin. This relates to the issue of regulation given by developing country governments. For example, in Indonesia, Bitcoin is legal and allowed only as a commodity trading and is not allowed to be a legal means of payment for several reasons about its high volatile risk.

Considering the high risk and volatility, hence some governments don't allow bitcoin being used as means of payment but only as a commodity, yet people still use it to transact under the radar, it's not a big deal anyway due to pseudonymous. It's a good thing that the government didn't entirely ban bitcoin and exchanges like what happened in China, as long as people can trade bitcoin, the community will continue to grow towards more adoption.

[Crptomagma]

Based on the concept of modern developments of a country I consider a bitcoin a good tool to increase the strength of an economy as it also involves buying, selling and investment. It’s strengthens the economy because bitcoin can be converted to fiat and these gives the owner purchasing power. But I don’t see bitcoin as a tool for poverty eradication.

Bitcoin cannot eradicate poverty until the individual buys bitcoin and know the worth. Bitcoin acquired or mined can be used for different beneficiary purposes. Until one buys or invest in bitcoin, bitcoin is a currency and just like every other currency in the world.

[Silberman]

It has little to no traction to countries with low technological advancement, even worse for countries where there's no internet. It tracability is fine up to some degree. It cannot be regulated therefore no profitability can be gained from it in the government's perspective. Bitcoin may indeed be profitable as a standalone but it cannot lift an entire country's economy unlike resources and commodities unfortunately.

Which is nothing new, if you take the time to look at how a particular technology spreads you will see it does not spread first in the places where it is needed more or anything like that, the pattern is that the countries that are more advanced technologically speaking adopt a new technology first and only after a long time has passed those countries that are behind begin to adopt the new technology, and this is exactly the same patterns we are seeing with bitcoin, now specific people from underdeveloped countries could use bitcoin or any technology to improve their lives but it is naive to think that bitcoin will be able to do that for every single person in those countries.

[carlfebz2]

The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies. They can be very helpful to provide access to  financial services to  community at large. As they are considered  a medium to support growth Process by providing better traceability of funds and help people to escape poverty.

Escape poverty? Only to those people who are fully aware into its existence and that literate on engaging into tech and to know that not all are that knowledgeable when it comes on handling
out a computer or even a smartphone this is why this kind of problem in global scale level cant really be just resolved out that easily.

I cant deny with Bitcoins capability when it comes to this manner which do really open up an opportunity to those who do tend to learn and invest on it
but dont expect for that kind of changes or solution into that extent.

Changes are there but wont really be that in the level of solving out global economic problems.

[Silberman]

The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies. They can be very helpful to provide access to  financial services to  community at large. As they are considered  a medium to support growth Process by providing better traceability of funds and help people to escape poverty.

Escape poverty? Only to those people who are fully aware into its existence and that literate on engaging into tech and to know that not all are that knowledgeable when it comes on handling
out a computer or even a smartphone this is why this kind of problem in global scale level cant really be just resolved out that easily.

I cant deny with Bitcoins capability when it comes to this manner which do really open up an opportunity to those who do tend to learn and invest on it
but dont expect for that kind of changes or solution into that extent.

Changes are there but wont really be that in the level of solving out global economic problems.

Bitcoin is an equalizer in the sense that now anyone that has a connection to the Internet has the potential of reaching a network that is increasing each passing day, however bitcoin in itself is not going to solve any kind of problem when it comes to poverty or any other significant problem, bitcoin provides an opportunity and nothing more, it is up to each person to grab that opportunity and make it theirs and as we know even today there are many people that think bitcoin is a scam denying themselves the opportunity to improve their lives.

[TitanGEL]

The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies. They can be very helpful to provide access to  financial services to  community at large. As they are considered  a medium to support growth Process by providing better traceability of funds and help people to escape poverty.

Escape poverty? Only to those people who are fully aware into its existence and that literate on engaging into tech and to know that not all are that knowledgeable when it comes on handling
out a computer or even a smartphone this is why this kind of problem in global scale level cant really be just resolved out that easily.

I cant deny with Bitcoins capability when it comes to this manner which do really open up an opportunity to those who do tend to learn and invest on it
but dont expect for that kind of changes or solution into that extent.

Changes are there but wont really be that in the level of solving out global economic problems.

Bitcoin is an equalizer in the sense that now anyone that has a connection to the Internet has the potential of reaching a network that is increasing each passing day, however bitcoin in itself is not going to solve any kind of problem when it comes to poverty or any other significant problem, bitcoin provides an opportunity and nothing more, it is up to each person to grab that opportunity and make it theirs and as we know even today there are many people that think bitcoin is a scam denying themselves the opportunity to improve their lives.

Bitcoin is not the key to escape the poverty because it is all about thinking right, try to teach people about bitcoin who have poor mindset for sure that they will not give a care because they do not know what it is and they do not give attention to what it is. Observe the people who have good mindsets, they will become interested to what you teach to them. There are a lot of opportunities and I do not know why a lot of people are saying that they do not seeing opportunities wherein they keep ranting and blaming the government. I prefer for those people who are not yet keep seeing opportunities; try to focus on improving your knowledge first and try to change your mindset first because I think it is the problem. Look at the countries who legalized the bitcoin, there are certain people who improved their lives when they changed their mindset and they adopt the bitcoin in their daily lives.

[imstillthebest]

it can be depending on the user that owns it but it wasnt built and intended to be an instrument for that and why it was only beneficial to those that are already growing , why not to those that arent yet but they shouldn be confident and say that they can get money on it anytime because btc price can go down too anytime

 if thier investment is on positive they need to secure it in a form of converting it to another stable currency or they can withdrew and bank the money  .

helping the poor are still going to count if the country is developed because government can provide jobs .

[carlisle1]

The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies. They can be very helpful to provide access to  financial services to  community at large. As they are considered  a medium to support growth Process by providing better traceability of funds and help people to escape poverty.

Talking about escaping poverty is too early for me,i think this is one of the result in case Bitcoin will be fully accepted and be acknowledge of government as what the function Satoshi Nakamoto really plans.
Maybe little by little we are gaining the popularity we need before the world listen to What our market is promising and this is not against Fiat function but instead a extended hands to serve the world.

[NavI_027]

As they are considered  a medium to support growth Process by providing better traceability of funds and help people to escape poverty.

Traceability of funds? I don't think it was as easy to trace as what current banking system we had. Though bitcoin is not totally anonymous, it was pseudonymous after all.

It helps you to escape poverty? Nah, not all the time. I mean, if that's the case then why we hear stories of broke investors today? The future is in your hands, bitcoin can guarantee you wealth and death at the same time. Everything depends on how you manage your assets so be courageous but be careful all the time .

[Anonylz]

The Bitcoin and other crypto currencies are considered as an instrument to support the Growth in Developing economies.

If you can call the growth in terms of transparency then i would say it will help a country develop by eradicating corruption and have a transparent process.

They can be very helpful to provide access to  financial services to  community at large. As they are considered  a medium to support growth Process by providing better traceability of funds and help people to escape poverty.

Bitcoin can help people escape poverty if they are willing to take advantage of the free market opportunity bitcoin and the cryptocurrency market is providing and if you are able to do that then sky is the limit but to reach those poverty stricken places it will take a long time and the local government has to intervene in giving them basic internet facilities and so on for that to happen.

couldn't agree more to that fact, btc can really help many developing countries to combat and alleviate poverty to a reduce level, nowadays, thanks to the availability of internet in almost everywhere anyone can easily access the internet using their mobile devices and not necessarily need any special tools, although they need to be educated about the whole process (especially in remote areas where the level of education is very limited), this will will really help a lots of youth to earn alternative income for their immediate needs.

[dificanovi]

at this time bitcoin is very helpful for growth in a country because the price of bitcoin has gone up very high so that bitcoin holders at this time get very much profit.  a country that has a very large amount of bitcoin, so that country already has a lot of funds at this time so that it can help the economy of the people to be better.