LoLth wrote: » I saw a news report a while ago on the possibility of using cryptocurrencies / blockchain to overcome the fear and mistrust of banks in third world / developing countries where they have very little infrastructure (including actual banks) but have access to (limited) smartphone technology.
Grumpypants wrote: » You can buy cosmetics in fortnight with Monero.
The Enbalmer wrote: » Just rang them..they no longer accept cryptocurrencies!
The Enbalmer wrote: » So you don't actually know of any real world applications for cryptocurrency?
The Enbalmer wrote: » They have no banks but everybody is computer-literate and can use smartphones to trade magic coins?
The Enbalmer wrote: » The problem with most of the "third world" is not that people "fear and mistrust" banks...it's that they have no money to buy food so no need to have a bank account.
The Enbalmer wrote: » How exactly is somebody in sub-saharan africa that has had 30 years of war,famine and drought going to access Bitcoins and what are they going to trade them for?
The Enbalmer wrote: » They have no banks but everybody is computer-literate and can use smartphones to trade magic coins? The problem with most of the "third world" is not that people "fear and mistrust" banks...it's that they have no money to buy food so no need to have a bank account. How exactly is somebody in sub-saharan africa that has had 30 years of war,famine and drought going to access Bitcoins and what are they going to trade them for?
Bitcoin Is the New Crisis Currency By Rob Urban November 17, 2017, 5:00 AM GMT Corrected November 27, 2017, 4:17 PM GMT Cryptocurrency supplants local money when governments fail Africans in Paris use it to send money home to their families
Blockchain is receiving ever-growing attention from research and industry and is considered a breakthrough technology. This paper present an overview of Blockchain Technology and its potential applications in developing countries especially Uganda. It was noted thatthese nations have the potential to progress, but do not have adequate access to present day technology, primarily due to lack of infrastructure and thus Blockchain Technology will fill the gaps. Fundamentally, these nations need transparency, security, and accountability in their processes, all of which are cornerstones of Blockchain technology. Finally, this paper reveals that due to the support from both government and non-governmental organizations, and the establishment of the Blockchain Association of Uganda, Uganda is ready for Blockchain Technology
The Enbalmer wrote: » It's gonna go DOWN long term of course. Thats what people have been trying to say and we get showered with abuse for doing so. Its over..the crypto bubble has burst,stop trying to "buy the dips",they're not dips,they're part of the slide to zero.
makeorbrake wrote: » Even a smart phone is no longer needed. If you have no means of access (re. banks), then people will go the extra mile to figure out a solution. So nobody has ever lost money they held in a bank. What if I was to say that there hasn't been a year that has gone by whereby someone has not lost money held in banks due to either the bank going bust or the government taking it? By SMS! Do some research before you come on here making ignorant big fat claims!
Mike3549 wrote: » Yes people have no money to buy food, walk 20miles a day to get water, electricity doesnt exist where they live, but they have smartphones! How the f*uck did they buy them and how should they charge them?
makeorbrake wrote: » I think he means there's no point in interacting with trolls. I should know better but I went to the trouble of digging out a whole list of use cases and you just blindly ignore it...
LoLth wrote: » maybe a little less sarcasm and a bit more willingness to do a quick search would help you get your argument across. I'm still looking for the clip I saw (it was mainly dealing with shanty towns including a massive sprawl outside of Soweto in South Africa). There are other references to similar use cases however as already posted by others and the following here:https://www.forbes.com/sites/darrynpollock/2018/10/23/africas-blockchain-potential-untapped-but-how-to-implement-it/ Its not necessarily about cryptocurrencies as they are today, it could be about real currency represented as a crypto-token (which means it is underpinend by actual value that could be traded and transferred the same as actual currency but without having to give an envelope of cash to a bus driver to delivery if they decide to take that route that day). So, not as an investment resource for speculation but as a trust platform. and yes, access to the internet is available to developing countries, usually as a subsidised programme to enable education and access to information as well as an ability to communicate needs and emergencies. (last I checked you didn't need to be computer literate to use a smart phone and while people in a developing area may not have money, that doesn't mean they don't have people in other countries who want to give them money or that there aren't government aid programs that don't have a secure and cost effective way of getting money or payments to rural areas). edit: and some research for usage in Uganda https://www.researchgate.net/publication/327416757_Developing_Countries_and_Blockchain_Technology_Uganda's_Perspective
The Enbalmer wrote: » So if they have no money where will they get the smartphones to buy thier Bitcoins? Would a smartphone not be useless without electricity and Internet coverage? There's parts of Ireland where you cant get an internet signal..i can image what rural Ghana is like. And to be perfectly frank people,in times of great hardship and suffering tend to use barter in place of money or swap services for goods or the other way round. High value resources would be food,medicine,clothing,ammunition,petrol,fishing line...stuff that can be used or traded in a crises. People in famine-stricken areas absolutely DO NOT go online to an internet currency exchange and buy magic coins that most people have no idea what they are (this goes for the investor types as well). How do they purchase them without money? And if they do buy some how can they swap them for vital supplies when all they are is dots on a screen? This space makes no sense as any sort of alternative currency..even now..ten years after it was invented there's barely anywhere that uses cryptocurrency. People have "invested" due to FUD and through greed and now they're pretending there is a wider use for the coins despite evidence that they are in fact utterly useless.
The Enbalmer wrote: » Where is the list? This technology has been around for a decade and that's the best you can do to show its relevance?
sexmag wrote: » Off topic but the days of the poor African dehydrated and walking 20 miles to get water is long gone,
Whelo79 wrote: » Why is it this thread gets one of these people every couple of months, who all think they are a genius, here to teach us something new and they then scurry off never to be seen again after all their nonsense had been answered emphatically? Every single one of them follows the same path of argument too. Surely it's not just the same loser registering new accounts all the time, is it??
The Enbalmer wrote: » Really?
makeorbrake wrote: » You [bleep]! I posted it in response to your 'demand'. You then ignored it - and now you feign not seeing it a second time. You're just a [nope] - find your way back to after hours. As regards lists - you're now on one yourself - my ignore list. edit: LoLth : attack the post and not the poster please. Adding to the ignore list is the best response. you do yourself more harm by responding angry.
LoLth wrote: » The Enbalmer wrote: » So if they have no money where will they get the smartphones to buy thier Bitcoins? Would a smartphone not be useless without electricity and Internet coverage? There's parts of Ireland where you cant get an internet signal..i can image what rural Ghana is like. And to be perfectly frank people,in times of great hardship and suffering tend to use barter in place of money or swap services for goods or the other way round. High value resources would be food,medicine,clothing,ammunition,petrol,fishing line...stuff that can be used or traded in a crises. People in famine-stricken areas absolutely DO NOT go online to an internet currency exchange and buy magic coins that most people have no idea what they are (this goes for the investor types as well). How do they purchase them without money? And if they do buy some how can they swap them for vital supplies when all they are is dots on a screen? This space makes no sense as any sort of alternative currency..even now..ten years after it was invented there's barely anywhere that uses cryptocurrency. People have "invested" due to FUD and through greed and now they're pretending there is a wider use for the coins despite evidence that they are in fact utterly useless. so, based on a worst case scenario you have concluded that the technology cannot be used to make anyone's life easier or better? Do you honestly have so little imagination that you need to be spoon fed a description of a use? (and again, in case you did not make the inference, the people using the service would not be buying bitcoins, they would be using blockchain to underpin trusted transfer of funds, the could then spend those funds online how they see fit - and no, not in amazon, put some thought into it). What some people do with a technology does not define all of the possible uses of that technology.
The Enbalmer wrote: » I'm still waiting to hear of real world applications for a tech thats been around for a decade. And leaving aside the tech,what real world applications are there for a ten-year old concept that was supposed to replace or augment existing financial services ( that even crypto heads use on a daily basis)?
cnocbui wrote: » Everyone with money in a bank account in Ireland is losing money given the rate of inflation, near nonexistent interest and then DIRT pounding the nails in for good measure. That's why I took most of mine out and bought crypto.
JohnnyFlash wrote: » How much money did you lose because of that act of financial rebellion.
Mike3549 wrote: » Guys sorry for derailing the thread. you can call it sealioning, trolling or whatever you like, but claiming that crypto is for people in developing countries is ridiculous. 1/6th of all population have little or no electricity, 1/3rd dont use mobiles phones and you claim that these people in particular will use crypto, by texting? Its not easy to explain how technology works to public joe, but somehow you dont think it will be a problem to an uneducated person from 3rd world country, who cannot read or write
