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    Author Topic: Crypto can help poor nations a lot  (Read 1631 times)
    Wakate
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    February 27, 2025, 05:31:14 PM
     #121

    A single country most likely has problems with governance, a government that does not know how to handle finances, or steals too much. In this case, bitcoin will not be able to help such a country in any way, because it will be just another asset that will be managed ineptly.

    Bitcoin has one very significant advantage, you just need to hold it for many years and you can get a good profit, maybe if the government's wallet is public, stealing from it will be either too difficult or impossible, but I again return to the fact that for this you need a government that wants its country to be wealthy and that will care about its population, but it seems to me that among poor countries this is a huge rarity.

    I agree with you.
    The country can't handle crypto well if it doesn't handle everything else, on which it should stand upon.
    So it's obvious that the problem should be seen through its roots.

    A people that is battling with poverty, lack of infastructure, high illiteracy, corrupt government, and other will not see the importance of Bitcoin. These people will be more concerned with survival than investment. Statistics will always show that the highest number of people who owns Bitcoin live in developed societies. Bitcoin is not a magic coin that can turn the fortune of a country overnight. Just like El Salvador and Bhutan, nations can invest in Bitcoin and make a profit, which could increase their revenue, but Bitcoin will not solve all the economic problems.
    Survival is the most important thing many people are looking for especially those that do not have a job and what's going through their mindset is how to survive and get some money to help them get food for their families. Many of these poor countries are not poor because they lack the major sources of income but because of the bad government that is only after extorting from the government public funds. The bad government is responsible for the suffering of citizens and I don't think investing in Bitcoin is what is going to help the nation to get things right. Once the politicians of a country is corrupt, there is nothing they will not do to make sure that the citizens have a good lifestyle and jobs that will reduce the poverty level of the country.


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