One is what proportion of ordinary people could actually get access to bitcoins in third world nations.
Another is whether bitcoin mining will wind-up being a way to launder money and access to energy in the third world - we often hear about oil, diamonds and minerals being taken during conflicts in third world nations. If someone could turn oil into wealth with nothing more than an Internet connection and a portable server-farm, a whole range of abuses might be possible. It's been claim bitcoin mining in China can be a way to subvert currency controls already.
I don’t know about truly impoverished countries of Africa, but I have seen more Bitcoin storefronts and Bitcoin kiosks in South America and Eastern Europe than in wealthier countries of North America or Western Europe.
It’s also worth keeping in mind that Sub-Saharan Africa was very quick to adopt mobile payments. The countries may be poor, but millions of people may have phones even if they don’t have electricity or running water in their homes, and they are able to do a lot with those phones.
Bottom line: people are creative creatures. Either we have some rules we can all agree on and enforce them, or people will start inventing all sort of, erm, market optimizations techniques to survive and prosper.
BTC is not helping much in Venezuela. basic goods are hyperinflated in both local currency, USD and BTC.
it's just that by looking at people who happens to own USD or BTC in the feel-good articles we have from there on this topic, they can afford much more than others because of better economic situation before the crisis.
BTC is not helping Venezuela since there is a state induced apocalypse going on. No currency can help with that.
With less extreme inflationary events, like bad monetary policy, that do not destroy all supply chains, currencies like BTC should be able to help retain wealth.
I'd like to point out such problems can be easily manufactured if some points in the supply chain are heavily concentrated.
As long as imports are allowed (or at least there is a black market), importers should be willing to sell for at USD and BTC, so in theory USD and BTC are still better than local currency.
0) One for plausible deniability. You give this one away whilst under extreme pressure (torture).
1) For small expenses. This key you know yourself, in your head. Don't mix it up with #0. You could merge #0 and #1 if you feel relatively safe.
2) Savings. This key you give to multiple escrows.
What fraction of people in those places have access to reliable computing, connectivity and electricity?
THERE are currently 960 million mobile subscriptions across Africa - an 80 percent penetration rate among the continent's population. Internet penetration is at 18 percent with 216 million internet users, according to the latest Jumia mobile trend report for Africa.
I don't know if mobile subscription includes data but you have Wifi at cafes and such.