Topic: Do you think Bitcoin can end poverty? In a nation today - page 12. (Read 1749 times)

Poverty is a strong word. To be profitable with bitcoin you need to invest in it and anyone below the poverty line who doesn't know where his next meal will come from can not possibly invest in bitcoin. Truly, bitcoin comes with a lot of opportunities to financial freedom but you still need to be able to invest.

Poverty in a country can be caused by many factors not only due to no jobs but a less educational approach will make the environment less developing. As you mentioned "BTC help 1.7 mil citizens of your country" but are they fully stable now? Because to be stable in life you need enough money to meet all of your needs along with the money to fulfill your wishes. If BTC has made their life stable then I agree with you that btc can end poverty. Because it provides everyone in society, a chance to contribute regardless of their financial status as you can start from as low as 1$. If you remain consistent and do not fall prey to market sentiments that is very difficult for a newbie. If you can do that then a determined mindset end poverty of him/her using BTC.

You can read many reports about BTC and economic relations on google scholar or Science Data. Those reports will give you tho rough insights into either btc could end poverty or not.

• Bitcoin and Economic Growth: An Analysis by Abdulkadir Abdulrashid Rafindadi and Aminu Hassan-->conclusion of this report was, Yes BTC can end poverty but for only developing countries because the developed countries have already an option to make more money with there owned one but for developing and under progress countries due to economic instability, people do not get a chance to grow and groom. (note*these are not the same words, but almost the same context)

I hope you got the main idea, that BTC can end poverty as you can see results for yourself in your country. The same goes for my country too, I as a middle class have no enough money to invest in properties or to start any other business but what I can do is start trading for as low as 10$ but no doubt that it comes with its risks and without proper knowledge, you are going to remain in poverty.

OP, you have strange logic. How do you think Bitcoin is going to end poverty? By its value increase? Because Bitcoin once cost 1 dollar, but in the future it will cost $100k and it will solve poverty problem? If you think that poor person could have bought a lot of Bitcoins, for example in 2019 when its price was $4k, and could have sold it in 2021 for $69k, and that would solve poverty than you are wrong. First of all that poor person will never have money to buy. Second, he wont be able to hold it for so long, he would have sold immediately, as soon as he will ran out of fiat. Third, money dont come out of nowhere, if there was someone that bought it for $69k in 2021, then not that person is poor; those people have changed their places. Which means we still have same poor people.

Of course bitcoin will not be able to overcome poverty because there are many factors to be able to solve poverty, the most important factor to be able to overcome poverty is to increase investment, of course a country will not be able to carry out investments without the support of other countries, economic cooperation is very important to be able to make a country progress and reduce poverty.

While bitcoin can be a tool to help people escape poverty, it cannot by itself end poverty in a country or anywhere else.
Poverty is a complex problem due to many factors, including the social, economic and political situation in the country. Solving the problem of poverty requires a deeper and more comprehensive approach, such as economic and social reforms, ensuring equal opportunities and access to education, health care and other services.
Bitcoin can be useful for those in poverty, including those with limited access to traditional financial services and investment opportunities. However, for Bitcoin to truly help people escape poverty, blockchain technology and cryptocurrencies must be accessible and accessible, and users must be protected from fraud and other risks associated with the use of cryptocurrencies.

Thus, bitcoin can be one of the tools to help people escape poverty, but it is not the only one and cannot completely solve the problem of poverty.

Bitcoin is a great tool for people who are looking for ways to save money. It enables us to store value outside of the reach from the government. With all the inflation going on in the fiat monetary systems in most countries we can try to escape it with buying bitcoins. This works for the poor and for the wealthy people, the problem is that the poor people don't have much money to save in the first place. I don't see bitcoin as the perfect solution, because people money before they can save. Right now we are seeing rising food cost and living expenses that will lower the saving rates in many households. Bitcoin alone won't be able to eradicate poverty, it needs economic reforms from the government to create better and more competitive jobs that will pay a higher salary. 

Slowly Do you see 1.3m people leading your country to poverty, just like you, the material problem is with you, but how will other people here see it?
I know some countries that easily run the country, but with a meager economy, spiritual values ​​are pushed up, people find the rich and poor life is trivial and not worth pursuing, sorry if that is important. This point makes many people proud. But the truth is that money is just a small part of life, but don't forget the problem you propose here, how will the poor people the OP offers to invest with BTC? And more importantly, this is an investment, not a game of chance.

Nah, Bitcoin can't end poverty, in this world there will always be people lacking, and some of them lack the knowledge to get themselves out of the situation they are in, Bitcoin can only generate the opportunity to take you out of poverty, but you should be willing to take the risk, the biggest problem with poor people is they don't know how to take risks, the situation of poverty they are in have make things look impossible that they become too greedy to invest the little money they have.

And again, we are in a world where some people will always have less while other will have more things can never be equal, if everyone in a country is rich it will affect the economy.

Bitcoin by itself, like all cryptocurrencies, cannot end poverty. This is just an alternative financial system to public money. Of course, if each poor person is given a few bitcoins, this will improve their financial situation. But bitcoin is not enough for everyone.

To end poverty in a country, it is necessary to develop its economy, increase material wealth. Any financial system does not produce material goods, but is only a tool for their redistribution. That is, if we give someone money, it will be necessary to withdraw it elsewhere, or the material values that they replace, otherwise there will be inflation.
Cryptocurrency is exchanged for fiat and valued in fiat. Therefore, it is integrated into the general financial system of states, and even in this regard, states will regulate its circulation.

The four year cycle you mean is the Bitcoin halving but it is not a disadvantage. It actually help Bitcoin to be more scarce, making its value to increase even more. Before cryptos have created, there are already Forex, Stocks and others so I don't think crypto has raise more millionaires than them.


In fact, I think there are more losers in here and the ones who only benefits the most are the scammers and the fraudsters. It does have a different form of wealth transfer and that is the medium that we will be using here is Bitcoin (not cash/fiat or anything). This maybe weird or too complex to some but for us this was unique and cool. It also has an advantage and that is, there are less to no restrictions at all and the transfers are much faster.

I would say, it depends on every individual people on how they use Bitcoin as an investment and it also depends on people on what they are doing in life IMO. Conquering poverty starts from the people or each one of them so that they could help the economy. Bitcoin isn't for get-rich-quick after investment, it would take a long time before they could actually tell that they aren't in poverty if they only rely on Bitcoin as an investment.

It's better to have a stable job so that they can buy more Bitcoin and they can also fight poverty. Education is the key to get out of poverty or have a certain skills or knowledge and I'm sure you will have a place to work on what's best you can do.

Bitcoin has been existing for a long time so it's obvious that the currency alone can't change the economic situation or even solve poverty but if more people would see the worth of Bitcoin and invest in it, it will affect the economy positively. It only needs adaptation so people should see its worth as a currency and investment. It also needs the support of the government which is quite for other countries. I guess if Bitcoin investment would be prioritized by more people, it can decrease the poverty percentage in the future.

bitcoin cannot end the poverty of a nation, where a government must have reserve assets so that it can store btc for a long time or can be said to be 2x the initial investment capital,
when a nation is experiencing poverty I think it's better to allocate funds to micro-enterprises that can produce and help the economy so that the wheels of the economy continue, rather than investing in btc because btc was not created to end poverty

I agree that people who could take over their own financial situation and connect to each other, globally nonetheless, would definitely be the usecase for bitcoin more than anything else. We have seen so many people in my nation have trouble due to banking all the time, and yes they have that "lending money" that bitcoin doesn't have which puts them at the top, but that doesn't change the fact that they are doing what we won't do, which is rejection people.

Banks could stop working with anyone they want, because they are a business and have that right, but bitcoin won't be rejecting anyone, if you want to buy it then you can and you are now in it, no extra steps needed.

Poverty is a complicated thing and has become part of life, developed countries like the USA, England and so on there are also always poor citizens, the presence of bitcoin can help anyone to get profit, but there are many facts that many are bankrupt and poor because of bitcoin, so you can say balanced.

Yes, only we can end poverty because we are responsible for our lives. There are many ways we can overcome poverty; the most important thing is how to make money to improve our living conditions. Bitcoin can help people if they use bitcoin as a long term investment and bitcoin is like fiat savings in a bank. The difference is that the bitcoin they save, its value can increase in the future, while the money they keep in the bank cannot provide high interest.

But it's not easy to be able to get success in investing in bitcoin because one will face price fluctuations that are constantly changing. And if that person doesn't know how to deal with it, they will not be able to benefit from investing in bitcoins.

what can end poverty or eradicate poverty is ourselves by continuing to make any efforts. By getting to know Bitcoin and trying to invest in it, in my opinion, it will also end someone's poverty if they can benefit from trading Bitcoin. but it will also happen the other way around for someone who trades bitcoins if they don't have patience

No, bitcoin cannot help alleviate poverty. To get out of poverty, people need to work hard, have smart investment plans to make a profit. Bitcoin is an investment and if you know how to take advantage of it, you also have a chance to become rich. It is not a god that can bring you wealth without having to do anything. And don't forget that investing is risky, meaning bitcoin can also make you poorer.

For Bitcoin to lift people out of poverty, they must invest in it. You must understand that poor people live one day; it is important for them to feed their families. How can they have extra money?
Nevertheless, Bitcoin can motivate people to educate themselves and agree that you cannot enter any industry without experience. If people begin to take better care of their lives, value time, and learn new technologies, they may have a chance to escape poverty. But it always depends on the person himself and not on Bitcoin.

Bitcoin have nothing to do with poverty. Maybe the direct benefitting schemes from the government can be made even more effective than the traditional banking system. Bitcoin is innovated for different purpose and the same now got used in different needs. This means bitcoin have turned to be a multiple usage asset.

Poverty is something that needs to be concerned by the respective government. Every country have got poverty, but the grown countries hide it from the outer world. When the governments have trillions to spend on security during a budget, why can't the same government spend to eradicate poverty. This is some kind of politics, because if a person is taken out of poverty they'll progress slowly. In politics people need to be kept in control, poverty too a source. This needs to change.