Quote from: Rishabh riyz on November 05, 2021, 01:08:52 PM

Quote from: Blawpaw on November 04, 2021, 07:57:33 PM

Bitcoin is empowering local communities a little bit around the world. Native American communities have been stripped from their land and are struggling hard to escape poverty. This time is Bitcoin who is helping the Navajo people. West Block a Canadian mining company requested the Navajo nation to allow them for energy for a Bitcoin mine on Navajo land back in 2017. The company is currently employing 2 workers but has grown and is looking to have its operations increased to have 11 workers which will be hired among the community. The company is not only generating wealth for the community but is also providing them jobs and financial inclusion. This is the true nature of the potential bitcoin has to give back the power to people.

Not just the small community but we see that El Salvador which adopted bitcoins as legal tender also is helping and hoping that bitcoins would help them boost their prickliest economy where 1/5th of their GDP came from people sending money from abroad , this transaction had high transaction fees since there are few banks and the money would be considered in international exchange ,
The country was paying a huge amount in transaction cost and less than 35% of the whole population had bank accounts,
It is said that every citizen were offered $30 which they could use for paying at shops or government taxes .

We see here one of the main reason for adopting could be elimination of transaction fees in international transfer of money .

We see them good at the bullish state of the market we don't see yet how they go when the we are in bear since we don't know if majority of them can take how the market goes since its really not good to the side of people who doesn't know the action to do if they are unexperience towards certains flaws of the market. But if we can see them survive eventhough bad market hits then we can say that this adoption will really help to boost their economy.