Post
Topic
Board Trading Discussion
Re: Is bitcoin a boom for debt ridden countries ?
by
olubams
on 19/12/2017, 12:28:20 UTC
Do you think bitcoin will help debt ridden or poor countries to improve the standard of living and also will bitcoin help these countries to become financially stable if they adapt crypto currency ?

Poor countries does not have any business to adopt bitcoin and even if they think its going to help them overcome the financial challenges, several factors will still mitigate against them for fully harnessing the advantages of bitcoin. Starting with the issue of infrastructure which they don't even have and cannot afford to put in place because they are poor and investing in such would be interpreted as luxury that the country cannot live with at the moment. Another is the continued influence of world powerful countries on the domestic affairs of smaller countries which is a key thing to put into consideration before adopting bitcoin.