Quote from: bitkanu on December 10, 2017, 09:02:56 AM

Quote from: caldero on December 05, 2017, 03:55:32 PM

Quote from: litma21 on November 16, 2017, 12:45:08 PM

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

Economic impact is a small redistribution of wealth as some people get lucky and hit it big, however on the wider economy it does very little. It's a useful tool but doesn't really change much in terms of economic efficiency, at least not yet. There are some promising developments that are coming though but crypto is more of a tool to guarantee freedom than one to stimulate the economy.

Can't agree more, the people who lucky enough to hit it big is just a little part of the cryptocurrency community, the other's still struggling or even losing their money because mainly it's the redistribution of wealth, could create a gap between rich and poor, also the money circulating will be the same but with just the ownership of all these money will always changing.

Strongly agree, for now bitcoins as tools to guarantee freedom, not more. We can't expect more, because to stimulate economic growth requires support and governance as well as the central bank. Meanwhile, to make a policy about bitcoin trade itself is still being developed. Forget the third world countries and poor, because some big countries still have problems in getting rid of the economic gap through ownership of this bitcoin.