Topic: Do you think Bitcoin can end poverty? In a nation today - page 10. (Read 1749 times)

Yes, no second thought about that, bitcoin is already ending the rate of poverty in many societies today and inasmuch as bitcoin is concerned every person old and young poor or rich will feel the joy of bitcoin, and all this can only be achieved if the government see bitcoin as a legal impact in the society.
In many countries that legalized bitcoin, their economy is good and Bitcoin has reduced the rate of poverty in their country.

Well, yes, bitcoin can indeed end someone's poverty because it will be such a huge help for that family to lift themselves from the slum and give their children the right education by going to school where they can afford it the most. But unfortunately, that's just too easy to say than done because even if it's already a fact that bitcoin can truly make peoples lives comfortable, these people who are below the poverty line doesn't have the chance to invest into bitcoin even if they want to because there's just no extra funds for them to do that as they are already having a hard time by feeding themselves as much as 3 times a day or at least buy a medicine if someone in their household is sick.

I'm trying to respond, For example In El Salvador, the use of Bitcoin as legal tender is touted as a way to increase financial inclusion and provide greater access to financial services for those who are unbanked or unbanked. This has the potential to help the poor control their investments by providing a means to store and transfer money outside of the traditional banking system, which is expensive and inaccessible to many.

However, it is important to note that Bitcoin's impact on poverty alleviation remains unclear and there is still debate as to whether Bitcoin is a viable solution for financial inclusion.

While some proponents argue that Bitcoin can help individuals escape poverty by giving them greater access to financial services and investment opportunities, others warn that the volatility of Bitcoin's value and high transaction fees can make it harder for the poor to maintain savings and investments.

This is some bold statistics the OP has stated here, "Bitcoin has helps the poor by Increasin their savings and access to capital also it has help around 1.7million people in my country and also it has also impoverished people to control their investment." I would love to know the source. I would love to read more to know how it was achieved and if it is replicable in my country. If it is, then I would quickly draft a proposal to the representative of the people in the government.

 Do you think Bitcoin can end poverty? Yes. I think bitcoin can end poverty but it is not as easy as it may sound. It can end poverty if the government allows it. If the government can work with private and public organizations to make crypto-friendly law for her citizens. But will that happen or can than happen? I do not think so. Therefore people have to take the bull by the horn, I mean they have to take personal responsibility for their prosperity and make it happen. Either through bitcoin or through other means.

There is something called punctuation mark. I don't think you know about it. It is quite hard to understand what you are trying to say without them. But from what I can understand from this, that you are trying to say that bitcoin can help poor people to get rich. I don't think that's the case. Money makes money and same goes for cryptocurrency and on every other investment platforms.
If they are unable to get rich or get stable in life, they could have already done it with the money they already have. Bitcoin investment is very risky. So it is not for everyone. So I don't think Bitcoin could really end poverty.

Poverty shouldn't be designed to serve rich people because we all deserve to live a comfortable life it's just that some people were born with privileges and edges among poor people. Yes, rich people should be grateful for what they have but poor people shouldn't be contented with their status. It's fine to yearn for more by working hard especially if our goal is to improve our life status. As much as possible, we should grab the opportunities being offered by crypto because it could somehow change our lives in the future.

I agree. Bitcoin can help people get out of poverty if they've invested too early and the price now is totally gonna make them out of the poverty. So, it can do end poverty but someone who's got out from it should be responsible and maintain their situation to stay there and never come back to the poverty line. But we have to consider those that are in the poverty level that they can't invest as they've got no spare money in doing it. Instead of buying bitcoin, they'll choose to buy their needs because that's more needed than to invest. However, those that have taken time to take risk and buy bitcoin probably with equivalent of one meal a day that they've got have got some good gains but, not all can do that.

People who work in restaurants, construction sites, foods that you are eating, and everything else you can think of where people that are poor are involved is like they are part of the work force, which is why there should be a balance between poor and rich people. But again, I only want to end the struggle of those poor people, like having problems with food, shelter, and their needs, which makes me sad. That is why whenever we can help them, let's help as it has a big impact on them.

I strongly believe in the power of change that might comes in through bitcoin since it's a digital currency that has brought in do many opportunities then why should we limit the extent to which it can go in making life better, we gave to give it a chance and not only that, it also requires time in other to be trusted as not been one of the ponzi schemes, bitcoin is a game changer entirely and things were already changing for good from how we handles our finances.

Everything that is done to overcome poverty will certainly fail, we must realize that the life of this world will always present poor people, if you are rich then you should be grateful because all the things you need are provided by the poor, if there are no poor people then your money will be useless.

According to what you said, it can be seen that bitcoin is a tool to help us, and whether we earn money to get out of poverty is up to us, not bitcoin.

Don't forget the bitcoin market is a financial market, which means there will be winners and losers, when you win, and someone else loses. So bitcoin cannot help alleviate poverty, what bitcoin can do is give us an opportunity. Whether we can take advantage or not is the ability of each person.

I don't think it's aimed at alleviating poverty, but the existence of bitcoin can provide opportunities for people to get out of poverty, including me, at least after knowing that bitcoin can help the family's economy, by doing bounty hunting, trading and investing. although sometimes I don't get money every month, but when there is bullish I will sell it and divide my money for several purposes, starting from other business capital, personal enjoyment, and preparing to invest again after the bearish occurs

Investing in Bitcoin is just an opportunity that could help to improve our living and yes, it could create an impact on the economic system of the country. But honestly, this is not enough to end poverty in a particular country, not even in the locality because whether we like it or not, not all have the interest to invest, and many rejected this opportunity. Those who see the benefits and profit that they get from Bitcoin will certainly have the courage to take risks while others just leave and ignore it.

Bitcoin can truly end poverty in a nation today. On the other hand, it can create poverty for some people in a nation also. This will only happen to those who approached bitcoin in the wrong direction. That is: they want quick money and failed to learn or understand how bitcoin investment is been processed. It will eradicate poverty for those who understood that bitcoin investment is a long-term investment, and with the little they have they invested in it. Those who have understood bitcoin years back and invested in it long ago are rich now. But for those who want quick money and can't wait for a longer period to enjoy their investment are the poor ones in bitcoin investment aspect.

Indirectly Bitcoin will not be able to get someone out of poverty. because when someone is in poverty of course even someone will find it difficult to invest in Bitcoin. because he will probably focus more on meeting his daily needs to survive every day. I understand how it feels to be hungry. because I've experienced it for a moment in my life. when I went bankrupt.

and based on what I experience so that we can get out of poverty is starting from growing self-confidence, preparing a strong mentality, working harder, taking more action rather than thinking too much without acting much, take every opportunity that comes, always set it aside little money to collect as capital, always think out of the box, build more relationships, and stay strong and don't show weakness. because people will avoid us more if we look weak so it will be difficult for us to build relationships. associate more with people who are successful and hard working. keep learning throughout life's journey and continue to develop whatever skills we can learn.

after we have enough capital, have mature skills, and have built a lot of relationships. then we can start building a business even from a small business. Many relationships will make it easier to grow our business faster. and after the business is running then maybe we can only invest in bitcoin. by setting aside any money we make. little by little. I have also accumulated bitcoins little by little and now I have almost reached my accumulation target even though it took years. and like if Bitcoin came back to ATH then I can say that's where Bitcoin might have brought me to a better stage of life. maybe not very rich. but at least my assets will grow many times.

True, poverty will always exist as long as there is life, sometimes life is indeed better filled with poor people, because when a poor person works to make ends meet, it is different from a rich person who is usually relaxed and feels that the wealth he has makes him arrogant .

You are asking the question from a slightly narrow point of view as we say in our local language.  There is no single element capable of changing the poverty situation or the level of poverty. Noting that in countries called poor countries, there is a group of wealthy people who represent a very small percentage of the people.
These poor nations can be identified not only through economic indicators, but also through the value of their local currencies in the global financial market.
Poorest Countries in the World 2023

Bitcoin can't end poverty, people can do it and Bitcoin can help, in the end, it's a tool. How can Bitcoin help, well it's definitely better than banks... I will just drop it here (interesting reading): Here’s the pro-bitcoin, anti-bank argument advanced by a former Coinbase executive that’s making waves!

Simply, the fiat system is corrupted. And it can't be fixed, it's too much corruption on all levels. With crypto and transparency, if we can hope for that, things can get better eventually. Of course, if people use it how it should be used?

By the way, I am reading some good things about El Salvador... looks like crypto adoption is doing some good for them over there.

Bitcoin has been a solution to poverty by some, but not everyone will be as lucky as the people who got their lives turned upside down for the better. As with investing, there are losers and there are winners, and there are also those who can't do anything but sit and watch as those who could gamble play their cards because they themselves couldn't pay up to play the game. With its limited supply, not everyone will be able to turn a profit if the whole planet does decide to use bitcoin tomorrow. The price will stabilise and while some people will lose their hard-earned trading money, some will also gain.

I consider people who was able to become rich through bitcoin alone as isolated cases of RNGsus choosing the kid who'll get all the figgy pudding. Not everyone will be as lucky as them, and I think that's alright.

I think bitcoin can solve some problems in this world, but unfortunately not all. Unfortunately, there will always be poverty, with or without bitcoin. Sure, all people who invest in bitcoin in time can benefit from it, but whether bitcoin is really able to end poverty through it, I just can't imagine. But if it does happen and bitcoin ends poverty, I would be very happy because poverty is a global problem that needs to be fixed.