Quote from: dothebeats on July 09, 2014, 10:06:15 AM

Many people around the world know about bitcoin, the digital currency. But most of them only knows how this works; they never get the chance to use it or obtain it because of one simple reason: poverty. Most of the people living in a developing country doesn't have access to computer and the internet, which is the medium where bitcoin works. However, because of rapid inflation and skyrocketing prices for goods, people living on these developing countries want to break free from fiat, and use other currency wherein there's no central authority that controls how the currency flows. I, for one, am open to this kind of new idea wherein there's no central authority controls how our currency flows. I see bitcoin as a good alternative for fiat currency, but the medium it works through, which is the internet and computers, is not accessible to all people from all over the world. Because of this, I can't see bitcoin being widely used all around the world. It may be used widely by some developed countries but not those who are still developing. The idea of bitcoin being used as traditional money isn't impossible; it's only improbable at the time being.

Sorry for the mixed ideas that I typed in there. Kindly direct me to some errors that I commit there because I need it for our school discussion about Economics. I am a 4th year High School student that wants to excel in the field of Economics. If you are kind enough to read this, I thank you. Cheesy

Bitcoin isn't limited to developed or undeveloped countries.It's just about the tech knowledge of people certainly.More the people in technical line more they will know about the ongoing trend and quick adopt it.

MoonRise

Posts

Merits