Topic: Bitcoin Na For All: But can the 63% Wallowing in Poverty invest in bitcoin? (Read 152 times)

Bitcoin is not for all, is only politics that's for. Because if your no participate in politics you end up getting bad leaders that will mess you up. But Bitcoin isn't for everyone, is a choice to be free from poverty. Is not everyone that want to be free from poverty. Bitcoin is not for poor people that are looking for food to eat, such individual can't hold coin for long, he can't invest in bitcoin. 63%of Nigerians are wallowing in poverty according to the report,  is a sad statistic for our dear nation, that's blessed with mineral resources yet we can't utilise it for betterment of the people. In such situation you don't expect them to make any investment either bitcoin or others they won't listen to you, because they live from hand to mouth. There's no spare money for investment. And don't blame them if they don't invest in bitcoin because its their fault. Bitcoin investment is for people who have money and other businesses. Not for everyone.

Bitcoin is Accessible to everyone, is an open concept that is not restricting any one from participating, So long as the funds are available you can take part if it is your investment preference. But the reality is that not everyone can afford investing in Bitcoin so many especially those struggling with hardship or poverty will find it difficult to engage and there are people who don't have access to network. Bitcoin investment is not for those struggling with earnings but for individuals who can afford it and will be consistent. Individuals struggling with poverty can engage in small medium scale businesses that can be set up with small amount of money.

The last time wey I check, na money they dey take buy Bitcoin which mean say the 63% of Nigerian population wey dey wallow for poverty get big problem wey be say Bitcoin no even follow for the thing wey them dey think about. You don see person wey no chop wey come dey shit better shit? Wetin them need now na food and how to survive first and the money wey them get no dey enough so which one them go take buy Bitcoin?

If them even many buy Bitcoin, them no fit hold am because them no get enough money so them go sell am to take chop first. As you know, Bitcoin no be wetin you go buy today come dey expect the plenty profit the next day. E dey require time to give better profit. So the best way na for person wey don see food first, come get small reserve before him go think about buying Bitcoin. That reserve go help am when issue come him no go sell the Bitcoin. So the koko be say, poor man no fit buy and hold Bitcoin.

Yes, BTC is for all but if u don't have money to feed your self or family very well, it will be difficult for u to think about BTC business because u can't leave your stomach empty and start investing in BTC because u will not have d strength and energy to monitor your BTC business till it begins to bring good result.

Na true talk op, say 63% people in Nigeria are facing poverty in d country because since d federal government removed fuel subsidy from d country, it has caused massive poverty in d country that is making people not to think about BTC business because dey don't have d money to invest in BTC business. There are many people in d country that have interest in BTC business, but base on d poverty on ground make majority of people not to think about d BTC business, because dey are looking for daily bread so that dey can be able to overcome d hardship that is affecting d country.

We must say the truth many people wey dey here dey say dem dey invest in bitcoin na lie, dem dey get bitcoin through di campaigns so it is easy for them to say bitcoin na for everyone. Yessoo bitcoin na for everyone but those wey never chop belle full e no go invest and even if dem don invest or let say dem dey work for campaign and campaign come stop. Dem go touch their bitcoin chop because dem no get anything to continue di investment.
Make no dey follow di Oyibo people dey talk oh. Because their own God don butter their bread. Dem dey work for real life and still dey work for forum so dem get advantage well well.

I believe many people are out there deceiving their selve that Bitcoin is for everyone, and there's differences when dey say that. If Bitcoin is really for everyone many of our youth will be holding millions of Bitcoin right now. Bitcoin is for everyone meaning that is for those that can beat their chest say they are wealthy enough to buy Bitcoin without fear, is not for the people that to even eat a day is very difficult for them. I agree with you that Bitcoin investment does not guarantee to put food on our table. Bitcoin investment is not for the weak, it meant for those that have legit work, even though they touch their money to invest for the long term it will not affect them.

However, in my opinion, in this country, it is still the rich people who continue to get rich because as Bitcoin dey so, wealthy people will not think of it twice before they invest but poor people they will first have to think about their stomach, if they invest this money now, what are they going to eat, you see they will change their mind not to invest again. So I believe that Bitcoin is not meant for everyone with this current economy.

If this was an altcoinstalks, I would have removed 10 Karmas from you because you are talking from idealist point of view and not a realist. In reality, how many people are disturbing for money a day when you step out from your house? And nobody has any spare many in anywhere. And those who are saying we should invest in bitcoin with spare many, now where are the spare funds. According to one of my tribe song, nobody keep funds for problem but when the problem occurs funds were raised to solve the issue therefore there is no spare funds at anywhere. Don't say things because people were saying in the forum and merit sources were given merits for that, remember they are advanced countries and things work easy for them there and not where we come from. We must be realistic. And the aide didn't manipulate the figure but from different Ministries. I was like you when I was developing my account but getting the reality. The environment we found ourselves is different others so we can't compare ours to them. As it is in this country the matter how hard one struggle if the person is poor, he can't invest in bitcoin because he has to first meet up his necessary needs as some commentors have said. I be realist nd a left.

This is a wrong question if you ask me, you should first ask of how do they increase their earnings to be able to invest in bitcoin because it is clearly obvious that they cannot be investors with their income margin.

Remember, investment in bitcoin is advised to be done with spare funds, now these set of people cannot even get themselves filled up, talk less of having spares for investment, so Its clearly not possible.

The government aide that said this lacks vision, he is fast to give statistics of people living in poverty but cannot proffer solution to their predicaments. Of what use is it talking about the problem and giving statistics without proper strategy to solve it?

This is just the same as saying that Education is for all but yet we have a lot of people who can't afford the basic education because they are probably living in an environment where it's difficult to attend school due to how local those environments are. Bitcoin is for all because anyone who wants to buy it and use it can do so regardless of the location, educational qualification, or privileges he's exposed to but without the required finance and the basic knowledge of how Bitcoin works, most persons will most likely not have Bitcoin.

Even without being told that at least 61% of Nigerians are living below the average cost of living, moving on the street alone can give you a better statistic than what you see in the newspaper and this is the main factor that makes most of our guys that are already in the Bitcoin system to always start up first as traders because they can't afford to buy and HODL Bitcoin for at least four years which is the least reasonable number of years to HODL Bitcoin when they have pressing financial needs they have to solve. Poverty plays a great role in determining what a person does with his finances and for the average Nigerian who eats from hand to mouth, what most of them will tell you when you're bringing up an investment discussion with them is that they want to survive first and then making any investments will come up later.

Normally na who don chop well de reason invest.

Yes, agreed.
People that doesn't have any source of living can't invest on Bitcoin because they have nothing. Nobody who can barely feed him/themselves can't feed bitcoin by investing in Bitcoin. Anything you know that you won't be able to do you shouldn't use it to stress yourself because you can't afford to do it. Sometimes life hits people differently that's why sometimes it gets to a point when one can't invest for a limited time then after things are good he start investing again. However yo conclude on what op is saying, the poor can invest in Bitcoin but the ones who barely feed can invest on Bitcoin.

Before one things of touching their investment, I think op is typically talking about people who can’t even afford a single dollar a day and the possibility of them owing bitcoin ?
And I think for one to own bitcoin, then he should atleast be able to afford a dollar for a day.

Without shifting from the topic of discussion @op, I basically buy into your not everyone in the country can own bitcoin and they’re are several reasons to this very issue especially in a country like ours.
There are several reasons why one might not be able to own bitcoin even if they might be able to afford a dollar a day and try include:,
~ poor sensitization: you will agree with me that only a very few number or ration of people in Nigeria actually knows of bitcoin and a very few of the people who know of it are earning or maximizing it
~ poor network.
These two reason and some more are major reason that would limit people from owning bitcoin in the country.

If you don't have any means of income, you cannot invest in bitcoin. Whoever wants to invest in bitcoin should first get a job, and if you ha e a job and your income is small that it cannot take care of your monthly expenses, you should look for a second means of income so that you will have enough that you can invest from.

Whoever understands the reason why we should invest for the future will want to go extra miles in order for him to buy bitcoin and build his portfolio gradually because that is what will save your from dying poor in future. We also know how our local currency is fast depreciating due to inflation, if you keep your saving in bitcoin, it is an hedge to inflation in future your money go increase in value instead of to depreciate when fiat dey depreciate.

Bitcoin wasn't created to be an investment vehicle but as a currency that is universally accessible anywhere on the planet. Those Nigerians you just mentioned that are wallowing in poverty would most likely have bank accounts. Bitcoin for them simply means that they would be able to access financial services without barriers or needing to conform to some KYC or other requirements. All they need is just to setup their wallet, get it funded and they can be good to go. The price appreciation is simply just an added benefit of joining the Bitcoin bandwagon earlier than others.

 The three .ost important needs of man nah food, shelter and clothing. If you fit comfortably afford these three in this crippling economy, e mean say your own don beta. Now other tins folo wey dey make man worry o,  like children school fees and even business you fit do to keep poverty from knocking on your door and when you reason all these ones put, depending on how much as a salary earner you dey earn, e go hard to reason Bitcoin investment. Why? Despite say nah promising investment wey fit yield good results provided you get patience, e no dey without e risks. You fit tell me say life nah about risks but e go dey a bit unwise to invest in Bitcoin when you no get spare or another place wey money dey from come.
 You sef follow talk am say hunger dey and the way tins don choke, e go hard for the average adult to reason go there when him never eat finish.

Bitcoin itself should be invested with money that actually isn't that much important to us which o believe can be related to the word spare cash because it's practically not a get rich scheme that many people in our society actually bid it to be and that's why many people have failed even the ones that actually started investing in Bitcoin because at the long run of everything, they will still end up tempering with their Bitcoin and if you are interested in making success in your then steady tempering of your coin is definitely the wrong perspective and way to go about it.

In this current anyone having someone to cater for will find it difficult to invest in bitcoin, youth or any older ones especially those in school training themselves or the family men/women who has children in schools may likely not have enough funds to invest in Bitcoin and this is not because of not being hard working because many of them even have two or more jobs and are still struggling to meet ends meet, people are suffering God help us all.

Coming on to us here, if not for the opportunities available here at Bitcointalk to earn bitcoin, it will really be hard on us here even with our knowledge and the fact that we know the truth, to accumulate bitcoin as we currently have now especially as a student or a parent or those having families to cater for, economy is hard on everyone we Thank God for BTT things would have been much difficult for many of us here.

I believe this is a random guess figure that most times they used to loot people and this guess is same thing they use in their allocations. We know our country very well and we also know how everyone are multi talented meaning people can do various jobs to get paid and raised money to invest in bitcoin, I think every youth today in our society can't be classified as poor people or even those who can fend for themselves. Already we knew that people are really passing through hell but not for the youth instead for those old people who doesn't have more strength to go source for a living, I can't also dispute the fact government aren't putting any efforts to make sure poverty is eradicated. For about bitcoin well, people can still invest in bitcoin at any time they have money it's accessible to everyone whenever they felt like buying they would always buy them that is to say bitcoin is for everyone it's because of the accessibility to everyone makes it for everyone.

Well OP from my little point of view I gist bitcoin no be for every body now ohh because na who don see food eat dey do invest, cause how you wan tell me say person wey no get job wan do investment for bitcoin that one na big lie e no fit work like that.

 If we check around see how people dey suffer for we country just imagine a civil workers wey dey collect clos to 100k a month with the high cost of things, food stuffs don add money and everything don add money how that person one tak invest bitcoin when money no dey. My brother the truth be told na food be for invest ohhh, all man for him self.

First of all sef Bitcoin no be something wey person wey never fit see food chop sef supposed carry put for head, I mean Bitcoin is everyone no mean say if you never feed well then you go come go carry Bitcoin investment as something wey supposed put food for your table and moreover there is always the first hand advice about Bitcoin investment being for people that actually have tangible jobs doing especially the long term holders.

First let me differentiate poverty and hunger. Because most of us don't know di different and we using them together.
Poverty does not mean say you don't have for to eat, you don't have anything. But you have food to eat but it is not sufficient fill yourself. In 2020 World Bank said the average Nigerians are living below one dollar a day. And by then 1 dollar was #366 and if someone didn't have that amount then that person can't invest in Bitcoin because he very poor that he or she only thought on survival. And that is why when people are saying that bitcoin is for everyone, yes I agreed but not everyone can invest because cost of living making things difficult for some people to invest in bitcoin. Not everyone has access to Internet and not everyone has money to invest. Yesterday and today Vanguard newspaper again. I have been following the news on social media platforms and blogs , the current serving Presidential aide said, 63% of Nigerians are wallowing in poverty, so this has came to my mind will this 63% who can't afford $1 dollar a day invest in bitcoin if we go with the idealist saying of bitcoin is for everyone therefore everyone can invest it in. Yes everyone can do that but what of the 63%?

This has indicated it that the 63% which is below 1 dollar a day can't invest in bitcoin.

And hunger is the time when you don't have anything to eat so those who are hungry too can't invest because they have to eat first.