Topic: Bitcoin Gives the poor an Opportunity. - page 3. (Read 881 times)

I understand Bitcoin's original purpose and your concerns are valid. Bitcoin, a decentralized currency that symbolises financial freedom and independence from established institutions, has been kidnapped by investors. Its currently more known as a gold-like asset to hoard than a currency.

Lets address your issue regarding the poor not investing in Bitcoin. Indeed. Using Bitcoin as an investment instead of a transactional currency marginalizes those without enough capital. The truth is painful, but we must accept it.

In a bear market, Bitcoin investors with low funds could lose everything. Its disturbing that the wealthiest keep becoming richer while the poor get worse. I recognize the serious issues here and the need for financial awareness and caution, especially for the poor.

Bitcoin does not change as an investment scheme, when Bitcoin is created as P2P digital currency, it is packaged with different things, Bitcoin can still be used as currency and it is functioning fine as it is.  It never changes to investment, an asset, or a commodity because these things are packaged when BTC is created. 

Poor people may have difficulty in investing in Bitcoin due to their lack of source of funds but they have access to Bitcoin if they prioritize investing in Bitcoin rather than feeding themselves and their family.

Maybe those who don't eat 3 times a day are on a diet? XD but I know some are just poor. There are people who are rich but won't admit it. I don't know if they are only humble or afraid that someone will do a harm on them. For those people who like you said are not rich (don't have a mansion and luxurious cars) but only has a small savings. They are still poor although not in an extreme level.

I think we can also call them as a middle-class person. No matter what your status are, Bitcoin is created for all. It gives us an opportunity to make more money or to experience on what it looks like to be free from these centralized shits around us.

We need to first understand that Bitcoin was not created as an investment scheme rather a decentralised mode of current where you can hold asset and transfer it without any involvement of government or financial institution but since it has changed as an investment scheme and people rarely use bitcoin as a mode to transfer funds due to various reasons like speed, transaction fee and all it has been completely look at as any other investments like stocks and I don't agree with your opinion as poor will still not have money to invest into Bitcoin and incase of they invest and run into bear market then they have to wait for years to get it back or else simple sell it at loss. Poor and investment angle doesn't sync in Bitcoin or any other crypto.

At all points, we shouldn't always consider Bitcoin as an investment opportunity. Otherwise, people will forget about the use of Bitcoin and the history of why it was created. Due to the volatile nature of Bitcoin, we can take advantage of that. But you need to keep in mind that investing in Bitcoin doesn't mean you will be rich. Bitcoin wasn't created to make us rich; actually, some lucky people become millionaires, but everyone won't always be lucky. There is a high level of risk in investing in bitcoin when compared with any real-life investment, like real estate. Real estate investment is always more secure than Bitcoin; sometimes it gives double the value of Bitcoin. I know that for real-life business, you need a good amount of capital where you can invest any amount in Bitcoin. Those who can afford the loss of their Bitcoin investment can do so, and everyone can't afford to lose; hence, a real estate business would suit them. Also, there are many things to consider before making any investment decisions, like skill, experience, and capital.

I know every situation is different and the struggle is real, but oftentimes one of the main reason for finding themselves in that situation is the lack of basic financial culture: we live in a very capitalistic society that pushes you to spend more than what you make, and many people fall for that because they want to appear like they are richer than the friend/neighbor. As I said, not everybody does that, but many people, yes, they do it, so they could be in a way better financial position but if having the last iPhone or getting food delivered 3-4 times a week is more important than investing ok, it's their choice.

It is indeed true that Bitcoin offers a better opportunity to escape poverty, but it doesn't guarantee that everyone who invests in Bitcoin will become wealthy. Not everyone understands the standards and intricacies involved in the Bitcoin space, and some might not even grasp the concept of investment, let alone profit from it.
 
Another perspective on this is that Bitcoin can be beneficial for those who have at least some resources for investment and possess the knowledge, experience, and theories that can lead to success in the field of cryptocurrency. For those struggling in poverty without adequate resources, bitcoin investment might not be a viable option. They often find it challenging to meet basic needs, let alone think about investing in Bitcoin.

Another viewpoint is that the rich seem to be getting richer compared to the poor. In my estimation, there are two main reasons for this. First is the lack of knowledge, which is often due to a lack of experience stemming from poverty, which is always in front of poor guys. The second reason is the absence of funds. These are the challenges that make Bitcoin more of an opportunity for the wealthy than a practical option for those in poverty.

Let's bring a hypothesis into this thought experiment. Let us assume that Satoshi Nakamoto had a much more far-reaching idea than to create a system that would open up new possibilities for cooperation as an investment in the financial sector.

Let's venture a retrospective so that the idea becomes clear. In 2011/12, the first exchanges became aware of BitCoin. Let's add a conspiracy theory to the theory. I am sure Satoshi Nakamoto is a convinced conspiracy theorist, a phantom, someone who knew exactly that the financial market would bet on the BitCoin like roulette. In fact, this is exactly what happened in 2011 / 2012, when the BitCoin was traded and speculation set in motion a trend aimed at - here comes the conspiracy theory - discrediting the BitCoin by creating an industry of mining companies. An entire industry has been created that includes not only BitCoin, but all other cryptocurrencies that are copies of BitCoin over time. Hypothetical!

Let's go back to the idea of cooperation. Today, there are around 15 to 16,000 full nodes scattered around the planet, which compete every day to create new BitCoin. So the bet is like in casino roulette, where the ball hits a number, a colour or something in between. Random chance decides who wins. A gamble on what? Today, around 500 billion euros are tied up. This means that people have decided to spend 500 billion euros to buy into this casino BitCoin, hoping that new BitCoin will be created and by cleverly manipulating the market, a profit will be paid on the deposited sum. In very simplified terms.

The cooperation in this case is to manipulate the ball in the roulette through further digital support so that it falls on a best possible number, colour or something in between. To do this, an average of 15,750 full nodes calculate the odds every day. A digital space in which there is no real value creation.

What does value creation mean? In non-digital life, it means a person works with their hands, growing vegetables or avocados, for example. A teacher teaches the children of the farmers who grow these vegetables and fruits in a school. And after 10 years, the children of the farmers - in our case Melissa and Manolo's children - find themselves on the same land where their parents had to work hard.

So how can BitCoin help people in a cooperative system to develop, to build up their living environment and a little bit of wealth?

In which context did Satoshi Nakamoto see the peer-to-peer payment system in perspective?

The thought experiment continues.

Bitcoin gives an opportunity for everyone to select it as an investment asset but it does not depends on your choice to sell or buy because you cannot sell it by your own choice until it gives you profit. If you are just thinking about your choice and sell it at low price then absolutely it will be harmful for you.

Opportunity means there is a specific timing at which you have to take decision but it does not mean that you can buy and sell anytime according to your willingness. There is no doubt that bitcoin can give you profit but it does not mean that it will be profitable for you all the time.

Every investment is advantageous but thats you who make these opportunities as worse or profitable for you therefore work better for outcomes that will yield high.

We have read this thread. Very interesting ideas.

"BitCoin gives the poor people an opportunity?"

Let's extend this question in a thought experiment. The thought experiment certainly answers some questions about the existence of BitCoin in its social impact and the impact on the financial market in particular.

There are currently around EUR 500 billion in circulation tied to the BitCoin. This means that there are investors who have invested 500 billion euros in order to earn money with it.

As one of my bosses once said, "We show our customers how they can use IT to make even more money with their money. That was in 1994 / 95. The first digital systems for market surveillance were developed. I was right on the pulse of the times in Germany."

Well, what does poverty mean? How does it show itself?

Let's take a simple example:

A female farmer in Africa has two children. Let's call this farmer Melissa Nugoti. She has a small plot of land and her children go to a school in her village. Melissa earns 25 Euros every month. That is a lot of money. She uses this money to pay the children's school fees and to buy seeds for her vegetable garden. The village where Melissa lives is near the Sahel. So it is very dry there. There is hardly any groundwater. Melissa has to walk 10 kilometres twice a week for clean water.

Let's add a second farmer from Peru. Let's call him Manolo Esperanza. Manolo Esperanza lives in a small settlement near large avocado plantations. The settlement had its own land. This land was gradually sold to a plantation owner. Manolo sold his land to pay an outstanding loan. Manolo and his wife have three children. The three children go to school. Every month, Manolo pays 15 euros in school fees for his children from his wage of 50 euros as a farm labourer on the avocado plantation.

Shall we continue playing the game of thoughts?

Opportunities to invest are everywhere and not just in bitcoin. Every bitcoin investor certainly hopes for a commensurate return on their investment, but bitcoin does not necessarily make poor people rich with just a small investment budget. In fact, investors who have a large investment budget will get a greater return than investors who only invested $100 in the last year, but the return is proportional to their respective capital, especially if the time, strategy and purchase price are the same.

Bitcoin is always open to any investor, but the opportunities and portion of the profits really depend on each investor. I can't expect a 1 million dollar return in 2025 if I only have $1000 in bitcoin today, but someone with $500k probably can.

I agree with you here, but having to invest just $10 or $20 into Bitcoin means they will not get much profit even in the bull market. To get a significant profit, the investor must invest a significant amount too. Although Bitcoin is the only investment I know that allows someone to steadily invest a small amount through a DCA strategy, for other investments, the person would not be allowed to keep allocating more funds to their already small invested amount, just like they can do with investing in Bitcoin. Bitcoin is literally for everyone, whether poor, rich, or middle-class; as long as you accept the technology, you can invest in it without stressful requirements.

I think Bitcoin does not just empower the rich or the poor, it empowers both, provided that those who can guarantee survival ultimately succeed.Here, if you have the funds and the will power, anything can be successfully achieved.It is not that he will invest only if he has money. Power is a big issue here. I think here the rich have more opportunities than the poor, or the poor also have more assurance, but it is very limited cannot survive.Of course Bitcoin is not just currency it is an investment topic.I thinking the opportunities of the poor are very less due to many reasons such as basic rights, technical weakness etc.But it is possible if those who get the opportunity work hard and tries patiently.

Web browsing is a great way for people to learn, but what about those without access to the internet? Due to the gap in technology by places, many people are unaware of options like as Bitcoin and other investments. Many people still dont know about the digital financial world, which is a sad fact that has little to do with disinterest. The intricacy and scarcity of easily available knowledge further distance individuals who are already marginalized. Ignoring it’s a serious issue that will only make things worse.

Why i so much love bitcoin is that you don't need to be billionaire before you can invest in it, as far as their is a steady earnings that comes steady one can invest just according to the amount that can be afford to lose . Bitcoin is something I can say that is is fall all when it can be invest according to the amount one can provide,  but people who tend to invest with all the money they have on Bitcoin are going about bitcoin in the wrong way .bitcoin has given people much opportunity to be able to invest even with the little they have.

That's one of the factor that affects poor people to attain that benefits Bitcoin have. Cause nowadays in our technology which is the internet, from there you could gain knowledge by just simply surfing the web which you could find a lot of money sources, what more if they could do investment and trading as well. They can't escape that life of being poor if they doesn't have the knowledge how they can improved their life.

But to be honest, do we consider those native people who live in the mountain as poor? I just think that rich and poor are just labeled in a community, cause from those native people who's contented by just living and doing things as their survival. And also I think poor wouldn't waste their time to understand thing that they think is really complicated

I consider myself a poor person, not extreme poverty, because I have never lacked food on the table, I have internet (2mb/s), I don't have a vehicle (I don't know how to drive). I have considered investing in bitcoin a lot of times but I always end up spending it on things I need, in my country you could work 20 years in a row without ever having seen more than $2k together, but you can still be happy that way, so from my experience personal bitcoin is not good for the poor, the poor live day to day, although I had a good education, most of the poor people I know do not, they ignore bitcoin, they do not know how to use it, nor do they know how to use email. Nowadays, bitcoin is good if you have enough money, otherwise you won't even know about it and you will rarely, if ever, hear it mentioned among the poor. Maybe it's a problem that the rich no longer contribute to the poor, that no one takes to the streets anymore to show people what bitcoin is, and this is basically turning crypto into a closed circle with little adoption in the real world.

Opportunity here means that bitcoin gives poor people the opportunity to overcome poverty if they know how to seize the opportunity, bitcoin does not guarantee anything to anyone. After all, bitcoin is just a vehicle like many other investment vehicles, it gives us an opportunity but whether we can take advantage of it and turn it into profit is entirely up to us. One more thing, risk always exists around us and bitcoin is no exception, whether we consider it an opportunity or a risk depends entirely on how we view it.

The boundary between the rich and the poor is how they perceive a problem or an event in different ways.

It used to be like this, investment used to be for people who already rich. But today it is not any more, I don't know if the case is the same in every country but from where I can from, we can invest in mutual funds with only $10. And now we can do this with our mobile phone, I don't know whether it is connected or not, but maybe it's also because Bitcoin investment is so easy so other investments feel the needs to catch up.

Stocks are not expensive to get into I dont know which markets you are referring to, but my country markets are easily buyable considering what the average person here earns. Real estate is expensive, that I do agree and so is bitcoin. This is all relative depending on how much the person is willing to spend and earns in fiat.

Also being poor is often a curse for some and a blessing for another. Some people never want to get out of their misery and grow their condition of living into something better. Bitcoin will not change that status quo but how you define poor makes a difference here. A person who has access to electricity, internet, education is in the class between rich and poor.