Quote from: semaforo on July 12, 2013, 09:03:59 AM

Quote from: MAbtc on July 12, 2013, 08:35:52 AM

Quote from: psybits on July 12, 2013, 08:08:07 AM

Quote from: MAbtc on July 12, 2013, 08:00:15 AM

Quote from: psybits on July 12, 2013, 07:55:04 AM

That is to send to their paypal account not to be able to withdraw it to a bank accunt!

That is just saying someone in those countries can open a paypal account but they cannot withdraw the cash to a bank account in their country!

Anyone can open a BTC wallet in 2 seconds, it is a level playing field there is no red tape and no BS.

Dude. Are you serious? You are telling me that you can use bitcoins for P2P payments. I am telling you that you can do the same thing with Paypal, cheaper, in all of the places that you claimed that people couldn't. The only thing that matters is liquidity -- and there is no question that mobile/web payments providers will continue to ramp up services in developing countries.

You can't withdraw BTC to a bank account in your country, can you? Much of this discussion is about people without bank accounts. I really don't see where you are going with this. The point is that people can exchange value cheaply without banks.

There are many, many ways to convert Bitcoins to local fiat everywhere in the world (which is a factor in liquidity).

To be able to purchase locally with funds locked in a paypal account doesn't seem the same, does it?

Bitcoin is actually extremely illiquid in much of the world. Are you actually suggesting that bitcoins are more liquid than Paypal $? What evidence do you have for this?

"Locked" in a Paypal account? According to Paypal, there are 110 million active accounts. There are what, 1.5-2 million funded bitcoin addresses? Are you aware of what Paypal is, and that large, reputable businesses accept it (unlike bitcoin)? It's accepted point-of-sale in 2 million retail stores.

Why do you seem to think exchanging bitcoins locally would be more useful or prevalent than exchanging Paypal currency locally? In the context of developing markets, why would you assume that bitcoin is more liquid?

Bitcoin is more liquid than paypal in Afghanistan, Montenegro, Pakistan, Bangladesh, Burma, Cuba, Iran, Libya, North Korea, Sudan, Syria, Belarus, and Somalia. This is approximately 600 million people. Even if they only made an average of 1 dollar a day and saved at a rate of 5%, and then put an average of 20% of their savings in bitcoin to be able to make international transactions, this would mean a tripling of bitcoin's market cap. There are at least a few people among those 600 million who would like to make purchases online and are hindered from doing so by restrictions that ultimately only benefit the rich. Both capitalists and socialists can get behind bitcoin in good conscience- free markets create more wealth, free flow of money loosens super elites monopoly death grip on the global order. The more they tighten their fists the more bitcoins will slip through their fingers!

Agreed ~