This video from Learn Liberty looks at the effectiveness of the peer-to-peer decentralized digital currency bitcoin.
The video essentially states that it has more uses for someone living in developing countries than those living in developed places. People in the third world don’t have access to credit cards and they spend 10 percent of their funds on remittance fees. Meanwhile, we have an abundance of credit cards that sometimes pay us just for using them. As long as someone in Asia or Africa has a smartphone and Internet access, they can send money with bitcoin for just one percent of the amount.
Of course, with governments and central banks worldwide cracking down on virtual currencies because of their collusion with the likes of Visa, these benefits will likely be eviscerated in the coming years.
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