Bitcoin and Third-World Countries

[aqua 773]

On 11/10/2019 at 8:36 AM, PiroSense said:

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?

People will have a chance and a way to make money so they can fill or buy something they need, and they can fill their daily needs. They can try to search for a new job from the internet, and they can get paid using cryptocurrency. And if bitcoin price can increase, that means, they will make a lot of money from bitcoin. The advantages are people will have a chance to change their life become better than before. But the disadvantages are people need to compete with the other people who do the same thing as them, so they need to learn more about how to earn more bitcoin.

[Sezan789 18]

Every online work people are third country people's I think it.That third country people's work online and earn btc or bitcoin.I thinkthird country and btc twice are similar. 

[Naga 1250]

Bitcoin is definitely changing lives in those third world countries because the value of their currency is always decreasing and even nowadays we see big exchanges like okex and binance focus on third world countries and help them get in crypto. 

[khan22 3478]

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?

Yes it is possible that the third world country will adopt this because these type of business will except soon all the world and this is our future but i just say that which country will first except the crypto business that country will go up so much because future of the crypto business is so much bright.

[M hadi 1]

 

I think bitcoin is very influential on developing countries because I think bitcoin can benefit the people of that country. maybe in some developing countries they can take advantage of bitcoin.

[Sumayya 493]

That will help the third word Currency, if the second tier will accept crypto the other countries relying on it will also accept automatic

[SuperCrypto 7193]

In the third world Bitcoin and cryptocurrencies did not spread due to the concern of many of the currency, because of its anonymous nature, and the possibility of using it for tax evasion and money laundering. But I think that within ten years, everyone will have two "wallets", one for the local currency and another for a group of electronic currencies.

[Hatred 1388]

On 11/10/2019 at 9:36 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?

Bitcoin's adoption will bring a major impact to the third world countries. It can make their economy grow. Also, it can make their stock market grow.

[Interface User 1070]

The impact of the adoption of Crypto Currency to their country is surely have a positive outcome. Maybe some disadvantage that can happen is the lack of knowledge of some individuals especially who grown old in the fiat system. How this individual adapt in this type of society in terms of Crypto Currency? It will be accepted by them?

[CryptoMaxim 3829]

If such countries accept bitcoins, the benefits will probably be in the exchange Commission. Exchange will be those people who in their country can not. And there may be disagreements with those countries where bitcoin is banned.

[AlexGreyCryptoman 73]

Not all developing countries depend on countries of the first or second world. I believe that Bitcoin will not be able to help, since the country is only developing and still has no idea how to work with cryptocurrency. Unless individual individuals will start to do this, understand the whole point, and will earn a lot of money.

[johant123 1559]

3 minutes ago, AlexGreyCryptoman said:

Not all developing countries depend on countries of the first or second world. I believe that Bitcoin will not be able to help, since the country is only developing and still has no idea how to work with cryptocurrency. Unless individual individuals will start to do this, understand the whole point, and will earn a lot of money.

The movement usually starts from below. So make it easy for people to use, and the rest will follow.

For instance in Germany the central bank gives financial institutions next year the freedom to trade crypto currencies, and to develop instruments for them. That will be a positive push for crypto in general, also for payments.

[duncun007 3577]

On 11/28/2019 at 8:22 AM, Superred said:

This is pure of my thought and if bitcoin adoption to the third world countries i think bitcoin can decrease unemployment issue because people can works on internet such as crypto trading and those people will earn money from it

i think bitcoin has already made so many people in third world countries  rich or even financially stable because i personally know African people who joined crypto in 2015 and they bought bitcoin bellow 200$.

[Ahmedabdallah12 169]

Bitcoin help third world countries greatly it can be used as a source of income to people if those countries 

[Naga 1250]

7 hours ago, AliceJun said:

Third countries will have better economic development conditions when participating in the cryptocurrency market. It has a great financial impact from the people to the whole country. But this involvement needs good control or it will bring harm.

there is already many more traders nowadays thanks to binance because they come to Africa and they promote crypto and we saw them in Nigeria and they also added some African fiat money as well.

[nicolas1234789 2566]

If they ready, bitcoin can be used to solve economy problem but if not bitcoin will become disaster. Until now I never know about third world country adopt bitcoin because in currency value and technology is not enough. If we use charity program to help them it will be great but so far, many charity program using bitcoin fails.

[dinabolt 514]

We can use bitcoin for economy purposes but how about regulation and preparation to accept the technology, I think third world country not ready. We can't push goodness into another if they don't want or don't know. Start with education and equipment to accept bitcoin first, than we can continue with economic program for them.

[Pearls Before Swine 815]

Unless the unbanked population uses bitcoin for their purchases, there's no way any cryptocurrency is going to help anyone in 3rd world countries.  Why would it?  You have to have money in the first place in order to buy crypto, and part of the problem in underdeveloped countries is poverty.  When you don't have any extra money, you're not going to be thinking about buying bitcoin.  I'm not sure OP has even thought about his own question.

[patitaycute 648]

The adopting of Bitcoin might boost the growth of the economy and might help the economical state problem of a certain third world country. The good thing about our country was included in third world/developing country and all crypto transactions was legal.

[Sumayya 493]

1 hour ago, Hajinaallah said:

Bitcoin is a lot added celebrated in the third planet countries for the reason that they experience no restrictions yet. 

Yes they have no restrictions yet and that lack of restrictions made it possible to be used

[Sumayya 493]

1 hour ago, Shamim adnan said:

Bitcoin would be good for a third tier country, yet we do not understand any country in the world using digital currencies now or in the world, Bitcoin will be useful to them.the event that bitcoin is beneficial for them, at that point he is beneficial for me.

 

If they allow the people to use it and if the government will also accept it as a legal currency

[McCree 713]

On 11/10/2019 at 3:36 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?

Most bitcoin payment processors are restricted or sanctioned in a lot of third world countries, and even it the US itself some payment processors are not available in some states because of tight regulations, which is ironic.

[bitcoinb 1359]

I think cryptocurrencies are a great opportunity for people in third world countries but I think it can be dangerous for the economy of these countries.

[Aereen 456]

Adapting cryptocurrencies in the third world country would be great. I would help lower the unemployment rate if there are goiung to be trading companies to open and other cryptoactivties, like posting here in this forum, it is easy to do and people can earn. It will have good impact to third world countries. 

[Heroshema 0]

Crypto currency build as an enemy for Banks .. maybe in thired countrys can't use the international banks but they can use bitcoin for save them finance