With the increasing growth rate of bitcoins all over the world,what benefit will this be to the non developed countries? Is it a solution for them or simply a hindrance??I will love to hear what you guys think about that.
It is an obvious solution to countries wracked with hyperinflation, such as Venezuela. In fact, Venezuela is accepting bitcoin and Litecoin as remittances so long as the government gets its cut. But of course, bitcoin can be used underground if people choose to transact peer-to-peer. Other developing nations are increasingly using bitcoin as an alternative to their failing fiat currencies. What I am looking forward to is the day that a nation will officially accept it as a currency or declare that it is holding bitcoin as reserves.