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This article uses the common criticism of there already being existing institutions and security systems for money transfer. However, this may be true in well d
by legionof7 8y ago
This article uses the common criticism of there already being existing institutions and security systems for money transfer. However, this may be true in well developed countries but it's not true at all in developing countries. IMO, this is a common oversight by critics.
- ssivark 8y agoIn what world do people have the technological and social infrastructure for Bitcoin (end user devices, networks, miners, etc) but bad infrastructure for money transfer? How do you think they would be buying their phones/devices and paying to connect to the network?
- lawn 8y agoYou act like only people in rich and peaceful countries can have phones and access to internet. All you need is a smart phone or a laptop with a very poor internet connection to use it. Everyone doesn't have to be a miner. Yet there are many miners in Venezuela, a country where Bitcoin can have a very large impact for people. Venezuela have very bad infrastructure for money transfer... Since it's all blocked. Except for Bitcoin.
- legionof7 8y agoVenezuela for one.
- equalunique 8y agoDon't worry. If there is a developing country where those institutions don't exist, then you can trust the CIA will forcibly install such institutions, and every public mouthpiece from Wall Street to Capitol Hill will tell you why that's a Good Thing.
- walterstucco 8y agoBitcoin is for rich people or poor people trying to get rich and failing How is a currency unavailable to poorer countries considered empowering to the people is beyond me