The Role of Bitcoin in Developing counties to accelerate Growth process

[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

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[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.