Developing countries using bitcoin: Is it possible?

[TECSHARE]

Bitcoin is designed as a method of transaction, not as a stock to speculate on. Of course everyone wants free easy money with no work, but all you newbs don't seem to get the fact that everyone thinks they are the smartest by doing this and it inevitably results in a weaker market. As a result everyone tries to speculate, contributes nothing to the actual cryptocoin infrastructure, developers are left unsupported, innovation stops, everyone loses. It is time for people to get off their asses and contribute in stead of just waiting for someone else to do the work for you. Cryptocurrency is the most powerful tool humanity has EVER HAD in escaping fiat economic slavery, it is WAY MORE important than personal petty greed.

Well I'm not a noob and we are all here because it's profitable. Unless of course you aren't? In which case you must be some sort of religious person who worships Satoshi.

Anyway remittances are definitely possible with bitcoin. You need a network of agents though. That's how remittances work. Ordinary folk here don't know how to use a computer or the net. They just go to an agent's and he uses a computer and internet connection to process their transaction for them. This way the poor avoid having to deal with the volatility of bitcoin as well. They get the local currency and bitcoin is just a medium for the money transfer.

Wow, you've been here a whole year! Clearly you know what you are talking about...
Profiting is one thing. Profiting without contributing anything at all is another.
 Everyone wants money but no one wants to give back any time or money to the system that made them money.
As a result the golden goose is slowly being smothered. Everyone loves open source, as long as some one else pays/works for it.

Side note: I found this in your trust ratings and found it telling...
BTC-e Help Me Please 0: -0 / +0(0)   2013-11-15   0.00000000      "Talks out his ass alot, Unwilling to help anyone but himself."

[dothebeats]

I see that paper wallets can be a thing, but how can one send coins by using only that paper wallet? Let me know if you already found out a solution on that problem. I already stated that the widespread adoption of bitcoin isn't impossible, but just improbable at the time being,

[cinder]

I see that paper wallets can be a thing, but how can one send coins by using only that paper wallet? Let me know if you already found out a solution on that problem. I already stated that the widespread adoption of bitcoin isn't impossible, but just improbable at the time being,

Many people who know what they are doing see that. It is only those who think bitcoin that can become the reserve currency or replace local currency has no clue.

[dothebeats]

I see that paper wallets can be a thing, but how can one send coins by using only that paper wallet? Let me know if you already found out a solution on that problem. I already stated that the widespread adoption of bitcoin isn't impossible, but just improbable at the time being,

Many people who know what they are doing see that. It is only those who think bitcoin that can become the reserve currency or replace local currency has no clue.

Actually bitcoin isn't a currency IMO; it's a form of payment system. However, as people adopt the idea of bitcoin as an alternative currency, it's slowly becoming a currency. But most of the people tend to value bitcoin as an investment rather than a currency; most of the people waits for the value to rise and then trade it for fiat to profit. If we want to stay away from using fiat and wants bitcoin to be a replacement to it, we should use it more often and liquidate all of it for its value not to be volatile.

[Abdussamad]

Side note: I found this in your trust ratings and found it telling...
BTC-e Help Me Please 0: -0 / +0(0)   2013-11-15   0.00000000      "Talks out his ass alot, Unwilling to help anyone but himself."

Ha! Ha! That guy got angry because I did not give him enough sympathy. If you look at his post history you will see he disappeared after that. I help out a lot in the electrum forum and get thanked a lot. Perhaps you should take a closer look at my post history instead of judging me from some fly by night's tantrums.

[TECSHARE]

Side note: I found this in your trust ratings and found it telling...
BTC-e Help Me Please 0: -0 / +0(0)   2013-11-15   0.00000000      "Talks out his ass alot, Unwilling to help anyone but himself."

Ha! Ha! That guy got angry because I did not give him enough sympathy. If you look at his post history you will see he disappeared after that. I help out a lot in the electrum forum and get thanked a lot. Perhaps you should take a closer look at my post history instead of judging me from some fly by night's tantrums.

I didn't judge you by your trust history but your arrogant confrontational response to me here, so don't worry.

[DannyElfman]

I see that paper wallets can be a thing, but how can one send coins by using only that paper wallet? Let me know if you already found out a solution on that problem. I already stated that the widespread adoption of bitcoin isn't impossible, but just improbable at the time being,

Many people who know what they are doing see that. It is only those who think bitcoin that can become the reserve currency or replace local currency has no clue.

Actually bitcoin isn't a currency IMO; it's a form of payment system. However, as people adopt the idea of bitcoin as an alternative currency, it's slowly becoming a currency. But most of the people tend to value bitcoin as an investment rather than a currency; most of the people waits for the value to rise and then trade it for fiat to profit. If we want to stay away from using fiat and wants bitcoin to be a replacement to it, we should use it more often and liquidate all of it for its value not to be volatile.

The price of bitcoin needs to stabilize in order for it to be a form of currency money

[TECSHARE]

Is there anyone here located in Africa who would be interested in helping make this a reality using Infinitecoin? Please reply here or PM me.

[Skele]

Many people around the world know about bitcoin, the digital currency. But most of them only knows how this works; they never get the chance to use it or obtain it because of one simple reason: poverty.

If they knew that poverty will end if they turn to Bitcoin...

https://docs.google.com/spreadsheet/ccc?key=0ArD8rjI3DD1WdFIzNDFMeEhVSzhwcEVXZDVzdVpGU2c#gid=1

[Brewins]

The internet now is helping the poor, but at its beginning, it was something used in rich countries by the riches. Same with all major advantages, first helped the rich, then after some time the benefits leak to the poor.

Same with bitcoin, we need to consolidate first among the wealth people, then the benefits can leak to the poor. Once the riches adoption stabilizes, we can reach a stable price and it will be easier to use.

[Sunderland]

all gov in the world only likes to take taxes from bitcoin.
they dont care about " Bitcoin " itself

[Timetwister]

Many people around the world know about bitcoin, the digital currency. But most of them only knows how this works; they never get the chance to use it or obtain it because of one simple reason: poverty. Most of the people living in a developing country doesn't have access to computer and the internet, which is the medium where bitcoin works. However, because of rapid inflation and skyrocketing prices for goods, people living on these developing countries want to break free from fiat, and use other currency wherein there's no central authority that controls how the currency flows. I, for one, am open to this kind of new idea wherein there's no central authority controls how our currency flows. I see bitcoin as a good alternative for fiat currency, but the medium it works through, which is the internet and computers, is not accessible to all people from all over the world. Because of this, I can't see bitcoin being widely used all around the world. It may be used widely by some developed countries but not those who are still developing. The idea of bitcoin being used as traditional money isn't impossible; it's only improbable at the time being.

Those countries just need more capital goods per capita. Give them some free market medicine and they'll get there soon.

[crocko]

I live in a developing nation and have transacted using crytocurrency
Not sure what you think the usage problem is

The usage problem that I'm talking about is all about computers and internet. Not all people living in developing countries have access to computers and the internet. Let's say that they have access to it, but they do not own it; how can they store their own bitcoins if they don't have their own computers or even smartphones? By the way, the average pay for a minimum wage worker here in our country is $10 (that is the pay for working in 8 full hours).

They can use Blockchain.info to store the Bitcoins. 

[Timetwister]

all gov in the world only likes to take taxes from bitcoin.
they dont care about " Bitcoin " itself

Of course, governments just care about themselves, so they steal as much as the population allows them to. Governments don't want to lose control over money, that's why they hate bitcoin.

[cubanos]

Third world countries like Philippines is not yet ready for this. It might be possible for the next 20 years but I couldnt see these guys embracing the bitcoin thought.

[Timetwister]

Third world countries like Philippines is not yet ready for this. It might be possible for the next 20 years but I couldnt see these guys embracing the bitcoin thought.

Governments won't embrace bitcoins, because they want to keep controlling the currency used. But citizens will slowly start using bitcoins, no matter what governments say.

[arbitrage001]

No country will willingly give up their own sovereign power to issue money. 

Beside, a well manage country do not need to worry their own currency will become worthless one day.

[bitc0in]

I live in a developing nation and have transacted using crytocurrency
Not sure what you think the usage problem is

There are always some people get the reach of technology somehow no matter where in the world you live.The problem is the general people aren'r getting the ease of technology like bitcoin

[itsAj]

No country will willingly give up their own sovereign power to issue money. 

This is not true. Many countries have adopted the dollar because it is more stable. Most countries in the EU have given up their ability to issue money by adopting the Euro, which is suppose to be more stable then the country's individual currencies.

[MoonRise]

Many people around the world know about bitcoin, the digital currency. But most of them only knows how this works; they never get the chance to use it or obtain it because of one simple reason: poverty. Most of the people living in a developing country doesn't have access to computer and the internet, which is the medium where bitcoin works. However, because of rapid inflation and skyrocketing prices for goods, people living on these developing countries want to break free from fiat, and use other currency wherein there's no central authority that controls how the currency flows. I, for one, am open to this kind of new idea wherein there's no central authority controls how our currency flows. I see bitcoin as a good alternative for fiat currency, but the medium it works through, which is the internet and computers, is not accessible to all people from all over the world. Because of this, I can't see bitcoin being widely used all around the world. It may be used widely by some developed countries but not those who are still developing. The idea of bitcoin being used as traditional money isn't impossible; it's only improbable at the time being.

Sorry for the mixed ideas that I typed in there. Kindly direct me to some errors that I commit there because I need it for our school discussion about Economics. I am a 4th year High School student that wants to excel in the field of Economics. If you are kind enough to read this, I thank you.

Bitcoin isn't limited to developed or undeveloped countries.It's just about the tech knowledge of people certainly.More the people in technical line more they will know about the ongoing trend and quick adopt it.