The views of developed countries with developing countries on bitcoin

[mumang siat]

Developed countries see the potential of digital or bitcoin as something important and needs to be developed, so that the potential of youth to develop is much more possible, especially since existing resources can be used properly.

considering the increasingly advanced era, the greater the opportunity to be used to meet daily needs, even if we focus, the income in bitcoin will be far from sufficient.

while developing countries often view something new as unimportant, considering that the resources they have are very minimal, as a result developing countries are often left behind in the digital world, especially bitcoin itself.

not to mention the rules made by the government are very unlikely to allow the existing resources to wrestle this world, even if there are very few people involved and willing to follow the rules of bitcoin itself.

difficult patterns will be a reason not to want to start trying, plus there are no resources that can access bitcoin with the complexity and rules that apply.

[Upgrade00]

Personally, I think the distinction is not due to the level of development but rather the style of leadership (when it comes to Bitcoin). Developed nations like China, with one of the world's best economies is hostile to cryptocurrencies while far less developed nation's are very accommodating. This is cause the Chinese government is a restrictive one, and opposes the freedom and transparency which Bitcoin offers.

Governments which are transparent and progressive (developed or not) would create a welcoming development for Bitcoin.

[mumang siat]

Personally, I think the distinction is not due to the level of development but rather the style of leadership (when it comes to Bitcoin). Developed nations like China, with one of the world's best economies is hostile to cryptocurrencies while far less developed nation's are very accommodating. This is cause the Chinese government is a restrictive one, and opposes the freedom and transparency which Bitcoin offers.

Governments which are transparent and progressive (developed or not) would create a welcoming development for Bitcoin.

Personally speaking, maybe yes, but what happened was not as expected, the Chinese state limited bitcoin because of the large amount of hidden data, so it was feared that many hackers would attack, due to increasingly powerful resources.

but whatever it is bitcoin is king for developed countries while developing countries consider bitcoin to be pseudo

[The Cryptovator]

Different countries different options. A country's development fully depends on the government. Some countries don't want to welcome Bitcoin because they are unaware of Bitcoin technology and the future of Bitcoin as well. They are developing countries, they can't take the real-time decision and actually, that's the reason why they are developing countries instead of developed. On the other hand developed countries know about technology more than developing countries. They are taking advantage of Bitcoin where developing countries are backdated. Developed countries don't want to stay back, and they take the real-time decision. So the view about Bitcoin never would be the same between them.

[Upgrade00]

Personally speaking, maybe yes, but what happened was not as expected, the Chinese state limited bitcoin because of the large amount of hidden data, so it was feared that many hackers would attack, due to increasingly powerful resources.

There is no hidden data on Bitcoin, all transactions and addresses are public and traceable. Governments which ban Bitcoin do so because they fear the freedom of the citizens and use money as a medium to control the public. Hackers and scammers can use other sources to carry out their activities.

[Darker45]

I'm not sure I get your point but countries should take it easy on Bitcoin. Bitcoin won't do much to them as a country. So they shouldn't be threatened nor be ecstatic about it. Personally, I think it is actually no big deal to a country if Bitcoin is around. There's just so many things a country should be busy about. Bitcoin cannot significantly boost their economy. Neither can it actually bring it down. So, they could just make it available and let the people decide for themselves whether they find Bitcoin more convenient to use or not.

[Little Mouse]

You are correct. Bangladesh being a developing country, has the same negative look at bitcoin till now. For most of the people here, bitcoin is a currency of dark web and it is only used for illegal stuffs. How funny!
Moreover, it gets easier for developed country to track transactions while for developing country, it would be a hell.

[pooya87]

This is cause the Chinese government is a restrictive one, and opposes the freedom and transparency which Bitcoin offers.

That has been the definition of "government" all around the world. They just have different levels of dictatorship but they all seek full control and "oppose freedom". It is not specific to China and their government.

You are correct. Bangladesh being a developing country, has the same negative look at bitcoin till now.

You are judging all developing countries based on one! Take the recent news about El Salvador, a developing country. They announced that they are working on making bitcoin a legal tender. There are lots of other developing countries that are so open to bitcoin too.

[Upgrade00]

That has been the definition of "government" all around the world. They just have different levels of dictatorship but they all seek full control and "oppose freedom". It is not specific to China and their government.

Fully agree, I didn't state that power greed was specific to China; control is a part of ruling a group of people. I was only trying to correct the idea that developed countries are receptive to Bitcoin as opposed to underdeveloped ones, cause there are many examples which proves otherwise.

[mumang siat]

Different countries different options. A country's development fully depends on the government. Some countries don't want to welcome Bitcoin because they are unaware of Bitcoin technology and the future of Bitcoin as well. They are developing countries, they can't take the real-time decision and actually, that's the reason why they are developing countries instead of developed. On the other hand developed countries know about technology more than developing countries. They are taking advantage of Bitcoin where developing countries are backdated. Developed countries don't want to stay back, and they take the real-time decision. So the view about Bitcoin never would be the same between them.

de facto people who live in developed countries will continue to improve and will continue to start something new, if one thing fails they will continue to do something else.

while in developing countries something new is taboo and difficult to develop, so progress is more difficult to achieve, not to mention government regulations on bitcoin's view itself.

If we are honest, it is easier for us to live in developed countries than developing countries, lazy people are able to make a lot of money just by using technology.

[mumang siat]

Personally speaking, maybe yes, but what happened was not as expected, the Chinese state limited bitcoin because of the large amount of hidden data, so it was feared that many hackers would attack, due to increasingly powerful resources.

There is no hidden data on Bitcoin, all transactions and addresses are public and traceable. Governments which ban Bitcoin do so because they fear the freedom of the citizens and use money as a medium to control the public. Hackers and scammers can use other sources to carry out their activities.

the government is too worried about it excessively, so that the rules made are not in line with the wishes of young people who have resources in the field of technology, controlling well but not by providing rules that are not excessive.
rest assured bitcoin can be used for good things, if the government controls it properly.

[Theb]

Here is a screencap showing that even developing countries are leading the market together with developing countries. The stats shows the top countries leading P2P trading in terms of volume and there is several developing countries have even greater volume as compared to other developed countries in the data. Yeah you are right that obviously a lot of developed countries will have its advantages like they have different sets of priorities as well as legal advantages but if developing countries has their own citizens seeing the potential of the crypto industry as well as at least a neutral government giving them the freedom to do so you will see results like this being shown above.

[Raja Singa]

~snip

Suggestion, if you answer several quotes, you can collect them in one post. Quote put together.
For an example, you can see @pooya87 post

[TheNineClub]

Developing countries will try to find a way to become developed, and if something like crypto would give them a slight edge, then they will implement it. Case in point, El Salvador and Paraguay (and maybe Panama). I think we will see more of this in the future, much more from countries that have less than strong economies.

[meves99]

There is no hidden data on Bitcoin, all transactions and addresses are public and traceable. Governments which ban Bitcoin do so because they fear the freedom of the citizens and use money as a medium to control the public. Hackers and scammers can use other sources to carry out their activities.

Yes, that's true, but you can't just publish user data carelessly. That's why the owner must be strong in terms of cracking down on hackers

[Fortify]

Developed countries see the potential of digital or bitcoin as something important and needs to be developed, so that the potential of youth to develop is much more possible, especially since existing resources can be used properly.

considering the increasingly advanced era, the greater the opportunity to be used to meet daily needs, even if we focus, the income in bitcoin will be far from sufficient.

while developing countries often view something new as unimportant, considering that the resources they have are very minimal, as a result developing countries are often left behind in the digital world, especially bitcoin itself.

not to mention the rules made by the government are very unlikely to allow the existing resources to wrestle this world, even if there are very few people involved and willing to follow the rules of bitcoin itself.

difficult patterns will be a reason not to want to start trying, plus there are no resources that can access bitcoin with the complexity and rules that apply.

You really have to remember that people are living much different lifestyles between developing and developed countries. In some developed countries the state provides a safety net for everything - it can give you free medical services, it has the ability to support more high paying jobs and it has institutions that can generally keep criminal behavior in check. In developing countries every day can be a fight for survival, where you have to hussle and hope you do not get sick, where free leisure time is a rare commodity, electricity & power can fluctuate and money is hard to keep. Unless you appreciate these differences then you should not pass judgement on them for being skeptical about new technology - trust/honesty is hard to build and takes a long time when it is in low supply in your surroundings.

[Woodie]

Developed countries, developing countries come on this is one of the reasons we have bitcoin in the first place....to level the playing field!

Believe it or not I actually think developing countries are more likely to adopt bitcoin much more easily because of the benefits it offers to them such as lower rates to send funds to others as compared to traditional services like western union, money gram the list goes on.

On the other hand Developed countries have so much red tape certain technologies have to go through some kind of legislation before it could be adopted which denies most people the benefits crypto presents to all without being bias.

[isaac_clarke22]

~

while developing countries often view something new as unimportant, considering that the resources they have are very minimal, as a result developing countries are often left behind in the digital world, especially bitcoin itself.

~

At least for me here in my country, it is seen more of as an investment rather than like something that would prove convenient as a payment method because of its equivalent from USD to our local currency when converted.
Good thing it wasn't banned though.

[CryptopreneurBrainboss]

Here's what I feel, developing countries are looking for any opportunity they see to take advantage of it so if it becomes a success they be among the very first countries to profit from it and maybe one day become a developed country with the profit they must have been from giving that technology a chance when others didn't or were hesitating and still reviewing the technology.

This exactly what I feel is happening with bitcoin. Lets not act as if these countries has the interest in f bitcoin at heart, they all will centralized it if they're given the chance. Just like the Institutional investors, the government are no different, they're just after his they can profit from the industry and that's all.

Developed countries aren't in a rush, they have laws that govern their decision making, they can't just jump into a decision without looking at the risk factor associated. What happens if Bitcoin was to fail tomorrow, this are question that they have to be very sure of the answer before driving in. We're all optimistic but anything can happen at anytime, that's just fact.

[Muenalo]

As far as I know, must restrictions by citizens of developing countries are as a result of it's government rules and policies, just as mine Nigeria who banned bitcoin few months ago, followed by China and the rest..
Because only if they are able to create a conducive environment for it's citizens, people will be able to afford even if it's the least fraction of bitcoin..