Post
Topic
Board Bitcoin Discussion
Re: Can Bitcoin help poor countries?
by
Sithara007
on 20/11/2016, 17:57:50 UTC
i think bitcoin can't help poor country because in poor country. alot of them have a currency not easy to bitcoin help them

If there is an easy way of exchanging the local currency to bitcoin and vice versa then I think the picture might be different.

There are several issues which prevent such a direct exchange. The high volatility in the exchange rate is one of the main reasons. It takes up to two hours to get 3 confirmations, and the exchange rates can swing wildly during this time period. Another issue is the legality of Bitcoin. It is not yet clear whether Bitcoin should be considered as a currency, or as an investment asset.