Post
Topic
Board Economics
Re: bitcoin in developing countries
by
Chetan04
on 26/07/2018, 12:15:56 UTC
Advantages
Safety from corrupt governments and central banks
Deflationary
Bank the unbanked i.e no need for bank accounts with lots of paperwork
Works with even the modest internet connections as opposed bank apps that need 4G and powerful smartphones
Works 24/7
Low transaction fees

Disadvantages
Need to be tech savvy. Bitcoin addresses can be quite intimidating.
Need at least a moderately powerful smartphone and basic internet connection.
Highly volatile
Small transactions couldn’t be worth the high miner-fees for faster transactions i.e transaction backlogs