Quote from: ginsan on Today at 09:30:02 AM

Quote from: Forever101 on June 29, 2023, 09:57:20 AM

I have studied and argue about Bitcoin some topics which I posted and also came across in other board. Today I begin to think about the whole Idea of Decentralization, and I think the inventors of bitcoins since the idea was conceived till it was birthed has done the greatest good to humanity. With my view as at the time of writing , I think bitcoins will go long way to reduce poverty if they allow it achieve it's purpose. Reducing poverty in my context is not about profit but the peer to peer transaction mechanism. The idea of centralized exchange is very much in place because a lot of people are yet to accept bitcoins but once it become accepted by majority, I think there will definitely be no reason to convert to fiat.

I think what you mean is Bitcoin users will benefit in terms of transactions because they don't incur a lot of costs if they do it in Bitcoin. Because if someone does it with fiat surely they have to pay for third parties and also the taxes they will pay on remittances. Maybe that is the point that I digest from your words against bitcoin will reduce poverty.

So in my opinion bitcoin has greater potential to advance a country as El Salvador has done because they were the first country to use Bitcoin as the first currency and as a statistic for their progress for now of course they are able to develop better than income sector from tourism where this will have a big impact on making its citizens reduce poverty.

Honestly, El Salvador hasn't seen any significant changes so far since they accepted bitcoin as a legal tender. As with some news I read, people there are not very interested in bitcoin and still prefer to use fiat over bitcoin in their country.

Quite frankly, I don't see bitcoin having any positive impact on a country's economy, bitcoin is being considered an investment asset because of its high volatility. It does not create more jobs and is not applied to industries to develop breakthroughs that bring higher productivity. How can it be said that it is benefiting El Salvador or any other country?