Topic: Bitcoin Gives the poor an Opportunity. - page 4. (Read 881 times)
Well, I have to agree that bitcoin can give poor people some opportunities to earn but at some point, it can also make them poorer and become homeless in the end. That’s the reason why most of the poor people are afraid to take the risk in bitcoin because if they can’t do their investment or trading the right and secure way, they will end up losing all the little money they got. However, there are still who chose not to be fearful and are brave enough to take the risk, luckily some of them have gained success and are now living their lives to the fullest.
It's true that bitcoin brings opportunities to the poor, but not all poor people have the opportunity to grasp the opportunities that bitcoin brings because many people are so poor that they don't have enough to eat, so how can they have money to invest? But I think bitcoin is also an investment like many other investments, so saying that only bitcoin brings opportunities to the poor, but other investments are not correct. Real estate does not bring opportunities to the poor, but I think like the stock market, foreign exchange can also bring opportunities to the poor because they also do not need large capital to start a business. Trading forex, you can even start with a few dollars.
Let's not be blinded by sentiment, it's the same thing with Bitcoin. You don't expect to make a fortune out of Bitcoin with your $20, $200 invested into it. In the past, that's the early days of Bitcoin, one could achieve that.
I never said anything about Bitcoin making you a millionaire or making you a fortune at all, talk more of making the poor a millionaire with his little investment.
It will not make them a fortune, but it might make them something in the long run if they're able to be patient.
It's widely understandable that compound interest works, nevertheless, there are other assets other than Bitcoin that some people are also able to invent. It comes down to people's risk choice, sometimes they want to feel safer so they seek a lower volatility instrument.
The poor in this context are not people who can't afford a roof over their heads and no food on their table. I should have clarified that, my bad.
Some people struggle before paying rent, struggle to pay their fees or children's school fees. Some people struggle before they can pay one bill or the other. It doesn't mean they're absolutely poor to the extent they can't afford anything at all but they're struggling.
Some people just get by. Living on their salaries that is not even enough and they end up taking loans to take care of themselves and their families till the next payday. This is the reality of things in my country. So I don't know how exactly things are in yours but you most certainly can't call someone like that rich in mine.
Some people struggle before paying rent, struggle to pay their fees or children's school fees. Some people struggle before they can pay one bill or the other. It doesn't mean they're absolutely poor to the extent they can't afford anything at all but they're struggling.
Some people just get by. Living on their salaries that is not even enough and they end up taking loans to take care of themselves and their families till the next payday. This is the reality of things in my country. So I don't know how exactly things are in yours but you most certainly can't call someone like that rich in mine.
Note that someone might have an upper or high income yet still live paycheck to paycheck. This habit is not exclusive to those who are in the middle lower income.
My point is that it is not a matter of which investment instrument offers opportunity to the people but rather to the behaviour of the people themselves, specifically within the economic aspect. Deciding which thing to invest should come later after the person has moderate financial literacy. The first step is to solve the problem of why people spent all of their paycheck and did not reserve any savings.
But not all poor can grab the opportunity because there are people that don't have an access to the Internet let alone technology that can access bitcoin, maybe those above the poverty line and those that can afford to put in a little bit of money in bitcoin and have the devices that can afford to navigate the platforms where they can buy bitcoin. I feel bad though that the opportunity of a lifetime still doesn't reaches everyone but what can I do? It's not like I put them there or have any way to help them out, I'm just a lowly salaryman that lives paycheck to paycheck.
Some people struggle before paying rent, struggle to pay their fees or children's school fees. Some people struggle before they can pay one bill or the other. It doesn't mean they're absolutely poor to the extent they can't afford anything at all but they're struggling.
Some people just get by. Living on their salaries that is not even enough and they end up taking loans to take care of themselves and their families till the next payday. This is the reality of things in my country. So I don't know how exactly things are in yours but you most certainly can't call someone like that rich in mine.
You're talking about low middle class people.Some people just get by. Living on their salaries that is not even enough and they end up taking loans to take care of themselves and their families till the next payday. This is the reality of things in my country. So I don't know how exactly things are in yours but you most certainly can't call someone like that rich in mine.
Alright let's talk about how they can buy Bitcoin when they're struggling to feed their family and they need to taking out loans? loans always have interest, so when the next month you're spend more money to pay the loans + interest, you're also take new loans since you lack of money. How can they have more money to buy Bitcoin.
If you answer my question they can become a freelancer and get paid with Bitcoin, it's not Bitcoin is changing their life, but it's because they work harder and learn a new skill.
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My point is that Bitcoin might not actually give the poor an opportunity, at least in this discussion's context.
My point is that Bitcoin might not actually give the poor an opportunity, at least in this discussion's context.
There are many people who are very poor, not even able to eat 3 meals a day like you said, and investing with them is almost impossible. But in the future, if they can save a small amount of money and wish to change their lives by investing. It can be said that bitcoin is their choice, bitcoin gives them an opportunity because they can invest with their little capital. Unlike other investments that require more capital to start. So for me, bitcoin really does bring opportunity to everyone including the poor, although not everyone.
Nowadays it is difficult to make money, let alone get rich and it is an impossible task for the poor. But I think without bitcoin, the opportunities for the poor would be a lot less, so bitcoin is really helpful for the poor by giving them opportunities. Like me, I'm not so poor that I don't have enough to eat, but I always crave a solution to escape poverty. I searched and tried many ways for a long time but nothing worked until I found bitcoin and cryptocurrency. Although my life is not yet rich, it has improved a lot in just a short time since I invested in bitcoin.
Opportunity to earn? Yes, but it has limitations. With Bitcoin as an investment, obviously you’ll need money to earn by holding and waiting for its market price to increase. Indeed there are ways to earn from this industry in particular with services or projects but there are also limitations in particular with requirements to participate. Maybe if it was 4 years ago, there were so many options and requirements weren’t that hard to comply.
For sure the more times passes, the less the possibility to make a lot of money with bitcoin, but there is a good chance that in a few years you can still make 3-4 times what you invested depending on your timing, and with the stock market or the real estate there is no way you are going to have the same type of return in percentage. Bitcoin now is about $26-27k, in a couple of years it could easily be at $100k, almost 4 times more, not bad. 
We mainly use Bitcoin only for the purpose of making money from it so that we can make good money in future with Bitcoin. Those who want to become Bitcoin investment entrepreneurs must invest a large amount of money in it and they can expect good amount of profit from it. But those who are new investors do not have enough money, they buy some fraction of bitcoins with small amount and hold, and they are gradually interested to buy more bitcoins. And an investor always dreams of gradually increasing the fraction of bitcoins he holds in the hope that he can make good money in the future from that fraction. But an investor must be aware of the risks before taking such a venture, because any investment involves risk, so the next investment should be made knowing about it.
Everyone wants a profit and the percentage of profit will be proportional to the capital spent, for those who have a lot of money and buy Bitcoin in large amounts, they have the possibility of making a bigger profit compared to people who buy Bitcoin on a small scale, likewise with the risk, it will be quite worth it.And again, every trade or investment is not just haphazard, everything must be done using the process and knowledge you have to be able to make a profit, Bitcoin can be for all groups as long as they know how to make a profit.
Every other investment I know requires you to have a lot of money before you can make a reasonable profit.
You also need to invest heavily into bitcoins if you must make a reasonable profit. But like some other investments, investment in bitcoin allows you to do it in fractions and in amounts you can afford to spare for investment. So bitcoin actually offers opportunity to the poor to at least be able to have some kind of investment and hope for the future.
Bitcoin is not free nor can it bring wealth to the poor with just a small amount of capital, that was true only for early adopters but today it is no longer true. Those who want to make a reasonable profit also need a reasonable amount of capital, if someone wants to get rich with little capital, shitcoin is what they need, not bitcoin.
But the highlight of bitcoin compared to other assets is that we can invest in parts as you mentioned, which is really necessary for many people, especially low-income people and the poor. They can invest in bitcoin whenever they have money, which is really a big advantage of bitcoin.
To me, bitcoin is for everyone who knows how to seize opportunities, not just for the poor.
We mainly use Bitcoin only for the purpose of making money from it so that we can make good money in future with Bitcoin. Those who want to become Bitcoin investment entrepreneurs must invest a large amount of money in it and they can expect good amount of profit from it. But those who are new investors do not have enough money, they buy some fraction of bitcoins with small amount and hold, and they are gradually interested to buy more bitcoins. And an investor always dreams of gradually increasing the fraction of bitcoins he holds in the hope that he can make good money in the future from that fraction. But an investor must be aware of the risks before taking such a venture, because any investment involves risk, so the next investment should be made knowing about it.
Every other investment I know requires you to have a lot of money before you can make a reasonable profit.
You also need to invest heavily into bitcoins if you must make a reasonable profit. But like some other investments, investment in bitcoin allows you to do it in fractions and in amounts you can afford to spare for investment. So bitcoin actually offers opportunity to the poor to at least be able to have some kind of investment and hope for the future.
Opportunity to earn? Yes, but it has limitations. With Bitcoin as an investment, obviously you’ll need money to earn by holding and waiting for its market price to increase. Indeed there are ways to earn from this industry in particular with services or projects but there are also limitations in particular with requirements to participate. Maybe if it was 4 years ago, there were so many options and requirements weren’t that hard to comply. I remember the first projects I have worked and participated with which really have helped me to make a start in this industry.
Opportunity to earn are everywhere and you remain qualified when you’ve got a skill set to offer. Bitcoin just veined an addition to the lots of varieties that exists in our world. Even writing in itself is a skill and that some of the most exploited on the forum, writing!For one to be able to make some good profit from bitcoin, you must have either the finance to invest by buying and hodling for a long term which is something most of the people we regard as poor (practically those who feed from hand to mouth if you know what I mean; having to live day to day) can’t do.
Just how do they get that spare cash to invest when that’s fund to feed with for the day!
When you have a skill set of value and could be hired for it, then that’s a different story. Even then, you need other resources like technology to meet up the ends.
It’s not a complete haven that doesn’t asks nothing of you, you’ve got to have some level of resource and what to offer.
Since Bitcoin is a high risk high reward kind of investment, it can make poor people to get out of their rat race. If you invested in Bitcoin before that the price is only around less than $1, and you sold it in 2021, surely you became one of the richest person around the world.
We must understand that Bitcoin provides an opportunity to all people, regardless of their financial situation. Bitcoin benefits both rich and poor people. But does this indicate that investing in Bitcoin is no longer beneficial? No, it is still worth it to invest in Bitcoin today; however, the potential ROI is not the same as it was before.
We must understand that Bitcoin provides an opportunity to all people, regardless of their financial situation. Bitcoin benefits both rich and poor people. But does this indicate that investing in Bitcoin is no longer beneficial? No, it is still worth it to invest in Bitcoin today; however, the potential ROI is not the same as it was before.
Looking at the facts, poor people or those at the lower middle economic level are more likely to ignore Bitcoin investment for many reasons, especially the financial problems they experience.
Their finances are only enough for their living expenses and if set aside for investment in bitcoin they really have to work extra again to be able to buy bitcoin.
But it is not impossible, some of the bitcoin investors are also in the low-level economy by making purchases that can be said not too much but gradually.
This is also good enough for the long term.
Provides a great opportunity in the future to be able to change their economy when the Bitcoin price reaches a new ATH.
Ironically, they are the ones who could have been the most benefited people if they had invested Bitcoin a long time ago. Poor and middle class people didn't even need to invest money from their pockets, they just had to use faucets back then, during the early years of Bitcoin to build their holdings and keep it for the future. I believe the problem with poor people is that they aren't visionaries. They don't risk doing things other people aren't doing, they just follow the flux, the herd. If most people don't do something, they don't consider it important, while the rich act exactly on the contrary: they do things most people aren't exploring yet. Their finances are only enough for their living expenses and if set aside for investment in bitcoin they really have to work extra again to be able to buy bitcoin.
But it is not impossible, some of the bitcoin investors are also in the low-level economy by making purchases that can be said not too much but gradually.
This is also good enough for the long term.
Provides a great opportunity in the future to be able to change their economy when the Bitcoin price reaches a new ATH.
Looking at the facts, poor people or those at the lower middle economic level are more likely to ignore Bitcoin investment for many reasons, especially the financial problems they experience.
Their finances are only enough for their living expenses and if set aside for investment in bitcoin they really have to work extra again to be able to buy bitcoin.
But it is not impossible, some of the bitcoin investors are also in the low-level economy by making purchases that can be said not too much but gradually.
This is also good enough for the long term.
Provides a great opportunity in the future to be able to change their economy when the Bitcoin price reaches a new ATH.
Their finances are only enough for their living expenses and if set aside for investment in bitcoin they really have to work extra again to be able to buy bitcoin.
But it is not impossible, some of the bitcoin investors are also in the low-level economy by making purchases that can be said not too much but gradually.
This is also good enough for the long term.
Provides a great opportunity in the future to be able to change their economy when the Bitcoin price reaches a new ATH.
Of course, YES but most of them ignored it for financial reasons and knowledge. In fact, how could you prioritize investing in Bitcoin when you don't have enough money to provide your necessities?
I would say that they have the option and that will depend on their real-life situation. Some people are very unfortunate and really don't have the capability to start. Therefore, investing in Bitcoin is a good opportunity for all but not all have been given the chance to do it.
I would say that they have the option and that will depend on their real-life situation. Some people are very unfortunate and really don't have the capability to start. Therefore, investing in Bitcoin is a good opportunity for all but not all have been given the chance to do it.
It was developed to be used a micro-payment scheme, however, it evolved so much from it's inception that it become a class asset now. As for the opportunity, I think majority here is just average joe investors, so yeah there is an opportunity.
However, I wouldn't call it like something that will suddenly give the poor money, I mean it's not like a magic bean that will solved everyone's problem. It will still take a lot of effort from anyone, on how to save and accumulate bitcoin overtime before you can see and make profits.
However, I wouldn't call it like something that will suddenly give the poor money, I mean it's not like a magic bean that will solved everyone's problem. It will still take a lot of effort from anyone, on how to save and accumulate bitcoin overtime before you can see and make profits.
Many have regarded BTC as an instrument that can instantly convert someone from rich to poor. This is a misconception that people should avoid looking. Just like any other of investment, it requires tremendous amounts of patience, knowledge, and skill for your investments to grow.
Honestly, the way I looked at Bitcoin history, it does not meet the get-rich-quick criteria. Those who become millionaires because of Bitcoin had waited for several years before they are able to make a huge profit. Just like from 2017 to 2021, Bitcoin ATH only triple in price. While from 2013 to 2017, it only grew 20x. With a small amount of investment, this growth will not make anyone upgrade their social status from poor to being a millionaire. I do not know where does people thinks that investing in Bitcoin will make one become rich in just a short span of time.
What makes BTC separate compared to other conventional investment instruments is its potential in terms of its price. If its price skyrockets, then you can gain profit which is relatively faster compared to stocks, etc.
With its faster gain of profit comes the high volatility. So people that are not familiar with Bitcoin price movement may panic when they saw the price of Bitcoin dumped heavily after a sudden uptrend movement.
It is understandable that investment in Bitcoin is one of the investments that is very affordable for all groups. Sometimes in the past I never thought about making an investment because usually the investment was in things that were "expensive and required a lot of money".
However, after meeting Bitcoin, and for those who understand that investing in Bitcoin doesn't have to be 1BTC, then this is a very good choice for anyone, not only the rich but from various groups if it is possible and capable. Capable in this case is broad, so not only financially capable but also mentally capable and also mature in knowledge and management. Because after all, there is no zero-risk investment, especially in Bitcoin. So we have to be really mature when we want to invest in Bitcoin.
And this is a fact, Bitcoin can help improve the standard of living of many people. As long as these people are willing to try and really understand optimizing themselves to get various benefits from Bitcoin or cryptocurrency, then they can really improve their finances. Although this does not guarantee 100% because each person's efforts and readiness are also different.
However, after meeting Bitcoin, and for those who understand that investing in Bitcoin doesn't have to be 1BTC, then this is a very good choice for anyone, not only the rich but from various groups if it is possible and capable. Capable in this case is broad, so not only financially capable but also mentally capable and also mature in knowledge and management. Because after all, there is no zero-risk investment, especially in Bitcoin. So we have to be really mature when we want to invest in Bitcoin.
And this is a fact, Bitcoin can help improve the standard of living of many people. As long as these people are willing to try and really understand optimizing themselves to get various benefits from Bitcoin or cryptocurrency, then they can really improve their finances. Although this does not guarantee 100% because each person's efforts and readiness are also different.
Bitcoin provides a golden opportunity for anyone in this world. Bitcoin is the first crypto asset to appear, it is decentralized, its creator has a pseudonym, it can be bought on any exchange easily, has low transaction fees, can be sent to any private bitcoin wallet throughout the world very easily and has a strong community, so there are no drawbacks to Bitcoin, even with $1 you can have Bitcoin (with the smallest amount or what is often called satoshi) Anyway, have you ever thought that people who hate bitcoin, really hate bitcoin? there is a possibility that they also invest in bitcoin but want to try to manipulate the market for their own benefit!
Every other investment I know requires you to have a lot of money before you can make a reasonable profit.
The most popular forms of investment are stock trading and real estate and it's quite expensive to go into.
For you to buy these shares and make a good profit you have to have thousands to tens of thousands of dollars.
Not to mention that you need to have a deeper understanding before you can stand a chance to make it in stock trading.
Some might argue that you can buy fractional shares with the amount you have.
According to Stach these are a few disadvantages of fractional shares.
I can't say Bitcoin levels the playing for everybody but it gives people an opportunity to have an investment. People that ordinarily wouldn't have been able to have any investment at all.
With Bitcoin, you can just buy with any amount you have and sell whenever and however you want.
I for one wouldn't have had any investment at this point in my life if not for Bitcoin.
For the record, I'm not against investing in other things, if you have the money to invest in other things then by all means please do, but if you don't have it, it's best if you stick to Bitcoin.
And if you'd like to know more about fractional shares, and invest in them, you can start researching here Forbes.
Some people frown at the fact that Bitcoin is being termed an investment because Bitcoin was created to be a currency. They feel Bitcoin might lose its nature as a currency if it continues being an investment. I don't agree with that, but I respect their opinions.
Bitcoin can be both a currency and an investment
Not trying to sound so out of touch or whatnot but as someone who lived out of poverty and came up successful thanks to investing and crypto, capital is going to be the least of your problems. The most popular forms of investment are stock trading and real estate and it's quite expensive to go into.
For you to buy these shares and make a good profit you have to have thousands to tens of thousands of dollars.
Not to mention that you need to have a deeper understanding before you can stand a chance to make it in stock trading.
Some might argue that you can buy fractional shares with the amount you have.
According to Stach these are a few disadvantages of fractional shares.
Quote
Limits on when, how, and what you can sell
Fees for trading fractional shares
Lower dividend income and profits
Lack of stock voting rights
Risk of illiquid shares that are difficult to sell
Tax consequences when changing brokerages
This shows how the game is rigged against those who don't have enough money to spend on investment. Fees for trading fractional shares
Lower dividend income and profits
Lack of stock voting rights
Risk of illiquid shares that are difficult to sell
Tax consequences when changing brokerages
I can't say Bitcoin levels the playing for everybody but it gives people an opportunity to have an investment. People that ordinarily wouldn't have been able to have any investment at all.
With Bitcoin, you can just buy with any amount you have and sell whenever and however you want.
I for one wouldn't have had any investment at this point in my life if not for Bitcoin.
For the record, I'm not against investing in other things, if you have the money to invest in other things then by all means please do, but if you don't have it, it's best if you stick to Bitcoin.
And if you'd like to know more about fractional shares, and invest in them, you can start researching here Forbes.
Some people frown at the fact that Bitcoin is being termed an investment because Bitcoin was created to be a currency. They feel Bitcoin might lose its nature as a currency if it continues being an investment. I don't agree with that, but I respect their opinions.
Bitcoin can be both a currency and an investment
Compared to actually planning out an investment strategy, fighting FOMO and FUD whilst your assets fall in value, and even the dreaded bear season where not even the strongest currencies are immune to price decline, not having enough capital to start your investments is just the tip of the proverbial iceberg of your worries.
Finding the money to begin your investment journey with is easy, actually sustaining it through the whole journey is a differrent story.
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