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By the way you asked the question I can already sense your clear bias. I'll answer you however. Countries where the currency is inflating at enormous rates, co
by virtuexru 9y ago
By the way you asked the question I can already sense your clear bias. I'll answer you however.
Countries where the currency is inflating at enormous rates, countries where the banking system is corrupt/out of date/not functioning, Bitcoin has changed these people's lives. Venezuela would be a good example from this year: https://www.forbes.com/sites/realspin/2017/02/03/why-venezuelas-currency-crisis-is-a-case-study-for-bitcoin/ https://www.forbes.com/sites/realspin/2017/02/03/why-venezue...
- root_axis 9y agoThis is a myth. I can tell you from first-hand experience that bitcoin is not changing lives in Venezuela (at least not on a noteworthy scale). Practically nobody accepts bitcoin in exchange for food and services and many of the rural regions that are hit the hardest by the failing economy don't even have reliable access to internet. This idea that bitcoin is somehow aiding the impoverished is the height of technocratic arrogance.
- evanlivingston 9y agoI don't see proof anyone has been helped. The article points out that Venezuelan Bitcoin users rose to 85,000 users in 2016 and that a travel agency in Venezuela only accepts Bitcoin. The article also says Bitcoin is useful for buying stuff from online retailers. I believe the larger systematic problem with corrupt and non functioning economic instruments is not their corruptability but rather the structures that promote and rely upon on corruption which Bitcoin doesn't appear to resolve.