People who buy gold or USD don’t have to follow the news and can be (more or less) offline without having to worry about the value of their saving wildly fluctuating (the dollar is more likely to collapse but when that happens you won’t need Internet access to find out).
Guys who buy crypto are by definition higher income as they have the time to follow the news and don’t work 12 hour days...
if you have to work 12 hours a day it’s almost sure you don’t have disposable income or the time to follow the crypto circus...
Maybe I am too negative about this but seriously - laborers are the last people who can and should buy crypto. For sure there are examples of folks who got rich that way, but survivor bias won’t make me change my mind. Where are the experts who took out loans to buy BTC last December? Close to bankrupt.
Here's a bit of a change from our usual technical debates. I think it's an interesting topic to return to now and again. I used to take the view that we're really far off from more developing nations to get access to Bitcoin because of the technological gap, but I've recently become more aware of just how ubiquitous cell phone access is becoming. Kudos to /u/the_S1lence for setting me a bit more straight on this (speaking of which...long time no see!).
Hey! Just been traveling around a bit busy and also a little busy with exams and college applications and stuff... How have you been? :)
A lot of people have access to smartphones these days and SPV wallets can go a long way towards, so increasing adoption is possible... but I think Bitcoin really really needs to have nearly zero transaction fees for it to gain usage in developing countries. Even a $0.10 fee is probably going to be too much for most people.