Post
Topic
Board Altcoin Discussion
Re: rpietila Altcoin Observer
by
AnonyMint
on 04/09/2014, 18:51:43 UTC
I told you already that the people in the developing world for the most part don't have money to invest in coins.

Actually, that's incorrect. People in the developing world have much higher savings rates than people in developed world countries. It doesn't mean most of them wouldn't go for tangible stores of value, but some could and do invest in cryptos too.

You have a math error.

A higher percentage rate of 1/10 the income, doesn't mean they have more to invest. In fact, food is stilll 30% of their budget. And as always the savings is power-law distributed and most of the people in the developing world have very little savings because they can barely meet their basic consumption expenses (and they've gotten a taste of materialism and spend to join the lifestyle of westerners).