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Don't think about bitcoin as a western individual. Think of it like you were in a poor/developping country, where 95% of the population doesn't have a bank acco

by popol12 10y ago

Don't think about bitcoin as a western individual. Think of it like you were in a poor/developping country, where 95% of the population doesn't have a bank account. Well, bitcoin gives an international bank account to anyone. With the growth of internet in these areas, Bitcoin will grow.

watty 10y ago
Right, but what % of those people in poor/developing countries have the internet access and knowledge to securely manage a Bitcoin attack?
- andrewd18 10y ago
  Given how regularly Western Bitcoin exchanges are hacked, I'm not convinced anyone has the knowledge to securely manage a Bitcoin attack.
- facepalm 10y ago
  You mean an attack on their phone to steal the coins from their wallet?
drcode 10y ago
The problem right is that $0.25 transaction fees are now common- Not exactly ideal for a developing country (though the current price spike is mostly unexplained, so it's totally possible it is succeeding for some developing country use cases, despite the high fees)
- elastic_church 10y ago
  Its more like 25 cents to exit one economy for an international one denominated in bitcoin.
mamcx 10y ago
Except when is rule out of the law, as in Colombia where is prohibited (under the premise is only used by scammers): http://www.eltiempo.com/tecnosfera/novedades-tecnologia/bitcoin-en-colombia/16780487 http://www.eltiempo.com/tecnosfera/novedades-tecnologia/bitc...