[ralala]

The rising of Bitcoin can be a threat to working democracies - at least if it is used as a currency. Monetary politics are important for our society to function properly. On the other hand: For broken countries, it can help the people as a temporary replacement.

[superbcarrot]

How do people in those broken countries get Bitcoin? To buy Bitcoin in a first world country I need a valid ID, an online exchange that operates in my country, access to the internet and a bank account. And it can take days if you've never done it before. Is that realistic for someone living in a third world country? What does bitcoin give you that you don't already have if you have access to all the items listed above?

[wmf]

People in "broken" countries are comfortable operating outside the system (or they're already dead) so they can buy crypto person-to-person.

[mindcandy]

You don't need those things to get Bitcoin. You need those things to stay out of trouble with your government. If your government and financial system is broken it's even easier for you to get Bitcoin because no one is demanding you jump through their tacked-on hoops.

What Bitcoin gives you in this case is that you and I can be in two different broken countries with adversarial governments, but you can I can still transact from around the world without the blessing of our broken governments or their broken banks.

[ralala]

I don't know exactly. There has to be enough liquidity in Bitcoin locally to find enough persons to trade with. Starting a new cryptocurrency in such a situation will be difficult because of deflation. Deflation is extremely dangerous for the economy.

[kinghajj]

There are places to buy bitcoin without KYC enforcement: Localbitcoins still exists; I'm sure there's some dark web site to coordinate in-person OTC trades.

[rawtxapp]

You just need a phone, you can buy it p2p (ex: localbitcoins), or get paid for a product/service in crypto as well.