Topic: Bitcoin Gives the poor an Opportunity. - page 5. (Read 881 times)

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.

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.

For investment in stock market, one should get knowledge of business. How businesses work? What are factors that affect on business? Why businesses fail? Stock market investment is risky, if someone has no knowledge of stock investment. The first step to invest in something is to have knowledge of business, the factors through which we can estimate that  company will grow or fail. If business will be good, stock price will go up, and in long term these stocks will produce millionaires. If company fails then investment will be zero. But in real estate, the scenario is different, because real estate gives monthly fare of someone invests in properties. Every 10 years after, property price becomes double due to factor of inflation and mor engagement to that area. Real estate is best investment if someone wants stable income.

I don’t know how to put this straight but being poor is something badly worked out situation. In today’s world there are so many schemes that one can earn minimum wagers by doing simple tasks in public services and work their career path upwards. They can start increasing their wagers and poverty status too.

Now I am not saying this is applicable to every country out there. Obviously situations can be different in different countries and with respective government schemes for the under privileged peeps but it’s not impossible to change the situation.

May be there are bunch of other things like adopting to skills, getting enough education, adopting to the situation and much more. Then comes part of investment.

Yea,h I agree, but I put that up because most times when I see topics like this people always say stuff like it's wrong to see Bitcoin as more of an investment than a currency.
While I agree that Bitcoin is a currency, it's also an investment. I put that up to avoid 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.


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.

Bitcoin gives opportunity for everyone to earn and make an investment. However, in this context, we have to define who are the poor in OP's context, is it those people who are able to buy their meals and needs but are barely making savings, or is it those who are really very unfortunate and can barely buy their meal every day? This context is important because it will tell us if the "poor" OP is referring to can have at least a little amount of money to enter Bitcoin.

Well, in truth, Bitcoin has not only provided opportunities to poor people but also to the middle class and rich people; even to other students, it has provided financial support in terms of tuition fees to their school. Even in businesses that accept it as a payment option for customers, it can be used.

Even in other usage features of Bitcoin, it can also be used by other overseas workers so that they can send money to their respective countries. Bitcoin does a lot for us, not only in the opportunity to tell you frankly.

Those who were once hopeless are now full of happiness because of what Bitcoin has done.

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. Today, it's not that way. One needs to invest enough to gain something appreciable. Otherwise, it's the same way with stocks and real estate you alluded to that aren't profitable without substantial capital thrown into them.

Many people are looking to make money from Bitcoin because Bitcoin as an asset has gained some reputation in recent years. Bitcoin is giving everyone an opportunity to earn, whether they are rich or poor. The rich people can make a fortune by investing in Bitcoin, while the poor can make a living by making investments in Bitcoin. But, for the poor to make money from Bitcoin, they should have some capital to invest. Usually, if a person does not have money, or has little money, he will not go for expensive options and will invest in cheap items to accumulate more. In the past, with bounty projects, less fortunate persons had a chance to earn a handsome amount of money. At present, they can make money through bounty projects, but the earnings are significantly reduced. 

I agree with what you said, if we want to get big profits from stock or real estate trading, we need a lot of initial capital. But do you think that to be able to make big profits from bitcoin we don't need significant capital? Don't forget that bitcoin cannot bring x100 or x1000 profits like in the first period, and to get big profits you also need a significant amount of capital to invest in bitcoin. Bitcoin is not a get rich quick investment or will make us rich with just a small amount of capital, that is no longer the case these days.

Furthermore, even if you are a holder, you still need to have knowledge about bitcoin, the deeper your knowledge, the more beneficial it will be for you, I have not seen any field succeed without knowledge.

Its really sad that in this day and age, people still go hungry at least three times a day. And as the wealthy discuss investments and Bitcoin, the less fortunate struggle to survive. Its a terrible and extreme discrepancy. However, Bitcoin? The elites would prefer that no one go too deeply into the subject, I see. They would rather that the general public ignore cryptocurrency's capacity for decentralization.

In fact, Bitcoin has the potential to be an equalizer. Its true that there is a severe learning curve. Has the public ever been genuinely educated about the complexities of money by the financial masters, the banks, or the governments? I think not. Only if everyone is aware of and uses cryptocurrency's power can it pose a challenge to the centralization.

I mean it wasn't really completely like it, for sure you could easily buy a very small amount of Bitcoin and you could probably earn even though you didn't have a good amount of investment but at the same time, you could easily lose your investment in cryptocurrency. Cryptocurrency has a very volatile market price and if you looking forward to earning on cryptocurrency and don't really have any other source of income you might just end up selling your investment at a loss. Especially for poor people, I wouldn't really recommend investing in cryptocurrency at that rate because it is a risky investment it would be better to invest in assets, passive incomes, or something like a business because this investment involves tangible things unlike cryptocurrency where you doesnt really have any assurance, I mean on 2030 something like that we dont really know if cryptocurrency is still going to exist it could probably disappear at anything.

For me, Bitcoin is a great investment but I wouldn't recommend it for someone who doesnt really have some kind of savings or if you only going to depend on Bitcoin investment but as a currency I dont really think that it is already suitable for that since it involves high fees, and there are also a lot of platform issues since most of the low fees transactions are from centralized platform and most of us doesnt like centralized platforms.

We can say Bitcoin is an opportunity open to all but only those who take advantage of this opportunity will benefit from it. It doesn't matter who is rich or who is poor. But in today's competitive financial world, it is difficult for a rich person to become rich and it is more difficult for a poor person to become rich. Because in financial world no business can be created without money which is more difficult to do through poor people. If there are poor people who want to be financially strong but don't have the right environment then Bitcoin can be a milestone. Investing in Bitcoin alone makes it possible to achieve something daunting.

I think for those who can't afford to eat three times a day, of course they won't think about investing and if they have met their food needs, they will of course be able to think about other things such as investing. Choosing to invest in Bitcoin, there are many things that need to be learned and it would be better to have someone accompanying you so that you can easily understand it and we can start with little capital. You are right that Bitcoin provides opportunities for everyone who wants to invest whatever capital we have, even with little capital, if we do it consistently then we will get a profit from the investment we make.

As far as I know, to start forex trading, we only need 5$ to start with a basic account.  you're right, bitcoin is like all other investments, if we want big profits, we need a large amount of capital to start.  we cannot expect with little capital to earn millions of dollars from bitcoin. 

People want to escape poverty, it is important that they work hard and try to seize every opportunity if possible, it cannot be said that only bitcoin gives them the opportunity to escape poverty and other investments do not, that is not correct.

Those are the benefits people who want to invest in Bitcoin can get. They can buy Bitcoin in small fractions and buy again at a later time regularly and save it. The amount of money to buy Bitcoin can also be adjusted to their budget to not burden people who accumulate Bitcoin regularly.

By having an investment in the form of Bitcoin, you are preparing your future so that it can be even better. But people can start investing in Bitcoin once they are ready with the money. But if they have to meet their living needs before investing in Bitcoin, that's okay too.

And they are fortunate that investing in Bitcoin gives them freedom about when they can start. And there is no pressure that they have to invest in Bitcoin because it is each person's choice.

Their something you did not understand for cryptocurrency investment its not necessarily means that you will invest in bitcoin with  huge amount of more for you to make a profit, what you needed in cryptocurrency is ensure that you have your own way of making your profit  because some one who invest with small amount of money can make a profit more than the person who who uses big amounts of money to invest in cryptocurrency, I know that the higher the money for investment the higher the profit but it depends on the time you invest and the duration it takes for your investment and time of bullish and bearish when it occurs

Do you think investing in Bitcoin only need $10 and we will get $100,000 after next few years? lol.

Either stock or Bitcoin are same, you can start to invest as low as $10, but you will not get a big gain even the stock or Bitcoin price already reach two, three or five times high. Investing is the last step for someone to make more money.

For poor people they need to train themselves and get a high paying job first.

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.

Who is the poor?

Can we say that somebody who has some extra savings, albeit small, is poor? Or should we exclude them from such category because, in the first place, he/she has an amount to invest?

I'm certainly not rich, but sometimes I feel a tinge of embarrassment whenever I classify myself as poor because I know that there are people out there who cannot even eat 3 times a day, and yet I have so much more.

My point is that Bitcoin might not actually give the poor an opportunity, at least in this discussion's context.

Exactly, bitcoin can be both a currency and an investment, just like what is happening now is that most people consider bitcoin as an investment. However, there are still some businesses and individuals that still accept bitcoin payments. I don't see any problem but why are people complaining about it? Furthermore, if bitcoin becomes stable, how many people will stay and continue to support the bitcoin ecosystem as a currency? We need to acknowledge the fact that people participate mainly for profit, without profit, people will leave.