Topic: Bitcoin Gives the poor an Opportunity. (Read 881 times)

I wouldn't completely say that it is mainly only wealthy individuals that invest in bitcoin for the long term, anybody, both the supposedly poor people, middle class and the rich, can indeed invest in bitcoin for the long term, or let me just put it like this, this set of people actually do invest in bitcoin for the long term, all it takes is, for the person to discover bitcoin and understand its potentials, have something they are doing like a job or business or hand work that is bringing steady income to the person, such person can buy or invest in bitcoin and leave it there for as long as he or she wants, as long as such person like i said before, have other reliable source of income.

The only reason why its like its always hard for some people to hold their bitcoin for the long term is due to lack of reliable or dependable source of income, if a person can have a good of income they can depend on, i do not see why it should be difficult for such a person to buy and hold bitcoin for long term, regardless of financial status, rich or poor, or middle class.

    Bitcoin is not just for the impoverished; it is for everybody who is willing to accept it. This is a chance for everybody who believes in it.
Many large corporations, including Honda, Dell, Samsung, and various microbusiness merchants, have already integrated Bitcoin in their operations.

   You can get it right now if you have the ability to buy Bitcoin in the amount you can afford. Either you wish to earn money here, or you can save for the future. However, it is mainly wealthy individuals that invest here for long-term gain.

Hi. I just saw this documental on youtube:

Documentary: How Bitcoin Enforces Human Rights | Anita Posch

I think that it belong here, it basically talk about the how the "regulated" system discriminate the poor.

It is something long to see but it embrace the use of bitcoin againts dictatorships, over regulated institutions and how bitcoin help to people with some human rights

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I agree poor people are far behind bitcoin they struggle to meet the basic needs of life they find it difficult to lead a proper life and survive after eating. In that case they don't have money to invest the biggest one is a lack of education and a large number of people have access to basic banking services but struggle with low financial resilience. Because they are in debt and have little savings or income security they are vulnerable to economic shocks due to lack of quality assets.

That's not how the economy works, if you have $1000 it will always be $1000, what happens is that the devaluation in your country makes you believe that it has more money but that's not the case, it's just an illusion because the prices of things in relation to your currency will increase even more than before, so your friend is only avoiding the devaluation of his local currency by buying $, but in reality he will only be able to buy what he could buy previously and if the devaluation continues + inflation, he could reach the point of That $1000 won't be enough in the future for what you can buy with it now.

Well, even the united state dollars is an investment for some people most especially in third world countries with weak economic growth, development and activities..
For example, here in Nigeria, the dollar has been rising against our local currency which is the naira, and what did they say is the reason?, they said there is a shortage of dollars in our country, and for the first time, $1 dollar traded for over a thousand naira last week, now I can only imagine how much money or profit those who bought dollars several months ago and held must have made in just last week..

A big man in my street here was said to have bought over a hundred thousand dollars earlier this year when a dollar was around 500 naira, imagine how much he made as profit right now, just in less than a year..

So yeah, if people can actually invest in fiat currencies, I see nothing wrong seeing bitcoin as an asset to be invested in, rather than a currency to be spent, for all I care, any currency to turn into an asset for any body that wants it so.

Therefore, it is not too suitable if we analogise bitcoin to one group or one particular caste because in the end something like this will still be lame where in the end the context of bitcoin suitability remains in accordance with those who want it no matter whether they are poor or rich.

Not everyone can fit bitcoin but all can get the same opportunity if they want bitcoin for them to be able to adopt but something like that obviously there must be a desire from oneself regardless of whether he is someone who is rich or poor actually it doesn't really matter because the most important thing is our own desire and confidence in bitcoin.

Your analysis shows that labels, like calling something a currency, can hide other aspects of it. Your words are true: buying a foreign currency is an investment. What happens when the fluctuation is so irregular its hard to keep up? Bitcoin and other cryptocurrencies have that trait. Compared to fiat currencies, this attribute makes them unique. They become more of an investment than a daily cash. Your perspective gently reminds us to view Bitcoin as a money and investment. Yes, we should classify it as a currency since it doesnt create income and its value fluctuates.

The time frame for investing in bitcoin is typically not short, especially if you want to hold it for a very long time. However, if you want to engage in daily trading, that is an entirely distinct issue. One advantage of bitcoin is that you can get started with at least $10, as opposed to real estate, which actually costs a lot of money to set up even if it is profitable. People will always require a place to live, making true real estate less risky and more demanded. If not for the fact that bitcoin is a very good investment for the future, the volatility of the price of bitcoin carries its own risk.

All assets have volatility, including national currencies. But their volatility is not as great as bitcoin, they are not so volatile while bitcoin volatility can even go up to 10-20% in an hour. Therefore, it cannot be said that all volatile assets are the same, we cannot equate bitcoin with fiat currency. But bitcoin can still be used as currency if there is an agreement between two parties despite its volatility, but for it to become a currency that is popular and widely accepted as fiat, I do not think that will happen. It cannot be denied that extreme volatility is also what prevents bitcoin from becoming a currency.

Well, you don't need to invest tons of money if you can't. Even $50 every month will be good for your future. There are no doubts that BTC will go 2x or 3x from the current situation, it's only a matter of time. If you don't think so and worry about BTC, then maybe it's just not for you.

Just because something is labelled as a currency doesn't mean it's not an investment. As soon as you buy a currency that is not the FIAT money from the country where you live in, where you pay your bills and receive your salary, it becomes an investment. Because all currencies fluctuate to each other we are going to make a profit or loss over time holding different currencies. Buying USD today for example for most people in the world is going to increase or decrease your value in the future. In that regard crypto currencies and Bitcoin are the exact same, every day the price changes to the Euro, Dollar or other major currencies. Bitcoin only stops to become an investment if we would deal our whole life only in Bitcoin, which is not really realistic at the moment. In the future this might change, but until then we should look at Bitcoins also as a currency and an investment. My main focus would still be to treat it as a currency, because it doesn't generate any income and any profit only comes from price increases. 

What reason do you have to assert that poor people don't need bitcoin? Bitcoin is only for rich people and only rich people need it? I am a poor person and I need bitcoins. Bitcoin is a decentralized asset and everyone who wants freedom needs it because it is the only decentralized asset and is divided equally to anyone who needs it. But the problem that poor people are facing is that they do not have money to own it, but if they constantly strive and fight to improve their lives, bitcoin will be the perfect choice for them than any other. Bitcoin is for everyone who believes and knows how to seize opportunities.

Bitcoin could provide the poor financial hope, I agree. The internet allows everybody to participate in global finance, making it an equaliser. Yet, its not a universal answer.

Its obvious that not everyone will like cryptocurrencies. Because of their circumstances or lack of technological knowledge, many people may feel this world is not for them.

I agree. Improving one's abilities and knowledge is crucial in crypto. Knowing more helps us use these tools to improve our finances. You're right: consistent work and defined goals are key. Move forward and seek chances, in Bitcoin or elsewhere

Poor people don't need Bitcoin. They need simple survival. These people have no time for all this. They have completely different concerns.
In addition, their information flow is very limited. Even though we all live in the world of the Internet information web. There is no means to buy a basic computer with which you can learn something about blockchain technology and its derivatives. It is for these reasons that they will never get out of their financial situation.
Yes, another important factor that plays a significant role is time. Time spent reading, studying, self-education. There is no money for such processes, since the search for funds for food takes all the time.

The human world give you credit  for the resources, Bitcoin will accurately record them for you.

Which types of poor people you mean that they have the opportunity from Bitcoin.  What I really mean is that if you say poor, there are many types of poor people who are not reached by the internet.  They are detached from all this.  So to use Bitcoin you have to at least get off that poor list.
But undoubtedly Bitcoin is a revolution that everyone can benefit from. But what you mentioned is that the poor will also get the opportunity not only in trading but also in many cases the lower class people are getting many opportunities if they have skills. I have also seen many people who have treated their own relatives from signature campaign by just ranking up in this forum, there are also many students who are earning extra money through this signature campaign.  Moreover, many are earning through their own service provided.

Why is like that is that Bitcoin investment can be achieved within short time and you can use any amount of money you feel like to invest in bitcoin investment, what I really understand in real estate business is that before you join such investment you most have money and the money you most large amounts of money to establish the business and real estate business do have a lesser disadvantages or risk for the investment compare to other investment because no much loss in real estate the only way you can have lose in such business is when nobody want to buy when you needed but the long your housing stays the longer it appreciate in real estate management

In retrospect, I just noticed something about a very good video on the situation of BotCoiners in Africa. A small error in thinking, which, by the way, many people like to overlook.

There is no real value added to the BitCoin today. The value is exclusively money, and in many cases the money is only borrowed. Today, the network has between 14,000 and 16,000 active full nodes. This means that the BitCoins are stored as a data record on these full nodes. Let's assume, hypothetically, that someone goes there, let's call him Satoshi Nakamoto again, and this person gives away 750,000 BitCoin from his stock - a reported 1.1 million BitCoin - for a specific purpose. For example, the purpose could be to place more full nodes on the planet with people in one's own living environment. Everyone who installs a Full Node gets a quarter of a BitCoin as a gift, as soon as this Full Node has registered with a qualified address in the network. A moratorium is applied to this quarter of BitCoin. In the form of a moratorium, the Viretel BitCoin may not be realised. The moratorium is set for seven years. Until then, the BitCoin may not be used for sale and may not be moved to another address.

Let's go one step further. Yes, I can very well understand the idea that in communities, the BitCoin can be a way of justly building prosperity. Let's further assume that the condition of quarter BitCoin is linked to the fact that people in their immediate environment - community - start inviting others to join the full node. To run a business, a school, a library, a garden, a small farm, a handicraft business, a programming shop for peer-to-peer applications, a small company that connects people to the Full Node, and and and and and many more ideas. The value exchange takes place exclusively via the Full Node. If cash is needed for payments in the non-digital world, there is a kind of exchange office that provides cash. Or, preferentially, the payment from one Full Node to the next is carried out through the compensation of services - value creation.

And all this over the next 7 years due to the moratorium on the total amount of BitCoins donated into this concept. So 750,000 BitCoin at the current speculative value of 18.75 billion Euros from Satoshi Nakamoto's portfolio would be made available.

What would happen? What would the scenario look like?