Bitcoin and Third-World Countries

[kamalnewaz 150]

Bitcoin is very popular to all especially in the first world country.Third world country,here also bitcoincurrency known, but for the government, there are limit users to use this, in the future, i think, the bitcoin will be known to all.                    

[Kusumo234 400]

but bitcoin is popularized from developed countries, but increasingly popular in this third country, why is bitcoin and cryptocurrency easier to develop in third countries ??? because in developed countries like America, have strict rules or regulations on industries in their countries,  including in the financial sector

[Great Commander 659]

Adopting bitcoin for third world counties will help them to grow and possibly beocme economically stable as cryptos remains to be decentralized, there is no fear of bankruptcy. 

[Sumayya 493]

8 hours ago, Great Commander said:

Adopting bitcoin for third world counties will help them to grow and possibly beocme economically stable as cryptos remains to be decentralized, there is no fear of bankruptcy. 

It will bring growth to them as they will be taken along with countries that adopted cryptocurrencies

[babaji 1228]

There is no answers I can give, that will show a great picture for third wold countries. The amount of people oblivious to bitcoin is amazing. When people have to work hard to earn their day today living, you can't blame them, if they are not interested in the next big thing. I hope the scene changes, but it is highly unlikely.

[rajonmia 181]

If Bitcoin price increase a lot then third world countries will be more poor. This is one of the best disadvantage.  Advantage have that is using this currency develop world economy. That's it.

[Kauvincx 18]

On 11/9/2019 at 9:36 PM, PiroSense said:

Third-world countries are those countries which are still developing countries and rely with the help of those which are already second or first-world countries , such as the US.

What could be the impact of Bitcoin adoption by these third-world countries in their economy?

What could be some advantages and disadvantages, and as well as what could be the possible challenges before adoption would be possible?

Third world countries will only try to prevent or prohibit any financial innovation (including the use of crypto) or encourage crypto adoption in order to evade sanctions imposed by first world countries. In either cases, the impact of a adoption of cryptocurrencies like bitcoin would be almost null.

[Jesoy 1342]

Well third world countries could make bitcoin their helping measures since they needed to foster their economy growth and also their services of making the people earn even if at home. Accepting bitcoin might be the key to their progress especially that bitcoin price is high. That would be really great.

[Remember 5th of November 121]

There are big problem in third world countries (the governments ) it's stand up in all things new and the Blockchain technology will destroy their Thrones . 

[Hanan951 841]

They trying to get into this world. Alot of the people are allreqdy here trading and make money, people will follow the money to the moon lol...

[MohammadMohsin 569]

I think there are only gonna be advantages. Cause bitcoin is a great currency and it's price is really high too. And also it runs online. So it would be really great. 

[Amirul Islam 382]

On 11/10/2019 at 7:36 AM, PiroSense said:

Third-world countries are those countries which are still developing countries and rely with the help of those which are already second or first-world countries , such as the US.

What could be the impact of Bitcoin adoption by these third-world countries in their economy?

What could be some advantages and disadvantages, and as well as what could be the possible challenges before adoption would be possible?

In many countries it illegal now. But if they adopt it I think many countries will follow it and they will also adopt it. It can be a revolution for bitcoin. And I think in future it can replace our paper money system.

[andrehol 16294]

I see no shortcomings in the legalization of cryptocurrencies. Cryptocurrencies are decentralized. This means that other governments will not be able to influence the economy of your country with the help of cryptocurrencies. the advantage is new jobs.

[miskyming 1588]

I think there is no impact in the economy using bitcoin in the third world countries  because there are advantages and disadvantages of bitcoin so I can not say this can help to improve their economy.

[rakib7970 217]

Bitcoin has no boundary. It's a global currency and equally popular all over the world. So I don't think there is any connection of bitcoin to third world or first world. I think it doesn't mean any matter.

[Inferno 1]

Third-world countries are the developing countries. Bitcoins might be useful for their economy. But they are afraid because they don't know much..

[shafi123 187]

Bitcoin in third countries not legilze not accepetd in makret nor govet. Becuase they ghink it is worst enemy of the bank. So they not accept digital currencies.

[rudik48 0]

Мне кажется , что третьи страны являються полноценным и равными людьми для криптавалют.

[Oxygen 1004]

On 11/10/2019 at 6:36 AM, PiroSense said:

Third-world countries are those countries which are still developing countries and rely with the help of those which are already second or first-world countries , such as the US.

What could be the impact of Bitcoin adoption by these third-world countries in their economy?

What could be some advantages and disadvantages, and as well as what could be the possible challenges before adoption would be possible?

Adoption of crypto currencies by third world countries would have a positive effect on their economy, but they are likely to afraid to adopt because the economic conditions of such countries already in some bad conditions and they would have fears regarding adding a newer financial system to their economy because every new financial system took some time to understand an to implemented as well. They can not afford another fight with challenges along with the previous economic challenges.

[Sapdrx 469]

Currently you need quit some bandwith to do BTC transactions but with the upcoming lightning upgrade of Bitcoin also in remote areas Bitcoin can be used. I think crypto like cellphones will have a rapid adoption in African remote areas as the do not have the legacy we have.

[Yanadia 1517]

3 minutes ago, Fathe ali said:

I think cryptocurrencies are a big chance for the people in third world countries.We all know that my fellow country is one who suffer poverty in this past decades and we can't deny it because it is truly happening.If people don't change the country will not change.

Indeed all depends on the people if they are good at seeing every opportunity then the country's economy will get better.  The problem now is how to convey to the community in underdeveloped villages Cryptocurrency is an opportunity but also requires extensive knowledge and sufficient human resources to accept this.

[Bruno52 1141]

I think the thing that can be changed before this currency is adopted will be for the government to provide cheap internet access to everyone in the country as this will make many inhabitants of that country have access to bitcoin.

[Fadimah 191]

Bitcoin works normal in third world countries just like other countries. It even creates employment for youths in third world countries. 

[Tech Gupta 58]

If Third World Country Or Developing Country Adopt The Crypto Currency Then A Great Impact Would Take Place IN Their Economy Which Is Positive It Can Develop Their Economy So Faster Than Normal Process.

[Brushless4500KV 4214]

5 minutes ago, Shantods said:

they are afraid that their money will be stolen because of lack of knowledge and also they do not have the ability to run it..

I think the opposite. Third world countries are very loyal bitcoin users. Bitcoin can be the best source of income for them because they can earn more than their jobs with mining or trading bitcoin. Bitcoin's value is extremely high in developing countries because they have weak currencies with almost zero value. They can earn bitcoin and convert it to fiat and earn so much profit. Most third world countries have been banned from international business and bitcoin is a great payment system for them to make worldwide transactions without worrying about bans.