Topic: Bitcoin Na For All: But can the 63% Wallowing in Poverty invest in bitcoin? - page 2. (Read 615 times)

The Bitcoin said to be for everybody is literally on its accessibility that which aside individual governments and authorities, everyone has the right and different purposes to adopt Bitcoin and then, while certainly, it is not for everyone in terms of adopting it for profitablity such as trading and Investing when an individual is struggling on the provisions of essential needs such as consumable commodities.

There are much more to do with more than having it in an invetainment system like Bitcoin which profits does not come quickly such as the stock traders may be able t generate quick income to solve emergency needs.

Anyone holding funds elsewhere and still struggling on essential things like eatable and medications which sustains the life to be able to pursue that income must be joking with its life.

But anyone who can afford these essential needs and still remains financially imbalance can of course be good to invest on Bitcoin because then you needed to grow on your income and increase your portfolio in other to live a more better or expensive life and not like one struggle on the survival of life that can not be guaranteed on what to eat and their healthy beings.

So then, I agree with you that Bitcoin is certified financial technology for everyone but not convenience for everyone.

Everybody get how them dey take survive and mere looking at the hard economy and poor growth the common man no fit reason bitcoin, to invest na wetin need steady income mostly if na dca strategy, if na lump sum e try dey understandable because person fit receive money anytime maybe selling of property or land etc, even if na lump sum the economy dey too bad for person to carry money wey no dey sufficient invest at once. Me I believe say bitcoin investment na for the ones wey sure say them go receive salary and bonus steady so investing no be big deal and the investment choice na bitcoin wey dey bring profit. As for the question, na who get money dey invest mostly for this time investing belike like burden for some people due to hardship.

Actually every body fit Investment in bitcoin as Long as you get the capital to start up with, but for those who barely feed you no go expect those kind of people to invest in bitcoin when dem still dey look for food to chop. However bitcoin investment na for those people who don chop belle full so that incase of anything happen in the market in no fit affect you in anyway, just imagine those people way still dey struggle on how dem go take survive probably after struggling dem come use the money way them suppose to take hold body come go invest am in bitcoin e come happen say they  experience lose in the market.

You know how in go take pain Dem for body at this point him go begin dey regret say assume mean say him know say him for use the money go buy some food stuffs, this thinking go reach one full month sometimes self in go past one full month dem go still dey think about the lose, though bitcoin na very good asset that can profit us in the future but no go put body for bitcoin investment when you never chop well.

Exactly, I no see any reason why person wey never fit afford three square meals go dey think of investing money wey eh suppose use survive for Bitcoin, that one go be very wrong step especially now wey things done hard cause how long wey the person wan even hodl self before em sell am carry survive? Normally dem they advice people to invest with their spare money so eh no even dey advisable for such person to carry money wey eh suppose use chop survive go invest for Bitcoin. Bitcoin is for everybody no mean say na investment plan for everybody, yes anybody both poor or rich fit transact with Bitcoin or receive payment through am, but when it comes to investment plan poor people wey dey barely feed three square meal suppose stay off that aspects until dem dey financial capable to invest (buy and hodl for long-term).

Actually most people always have this mindset that bitcoin Investment is for everyone, though everybody can invest in bitcoin that's for those who are interested and also have a decent job, because if you don't have a source of income definitely you will find it very difficult to invest in bitcoin, because there's no way you're going to get a Capital to start up your Investment.

However bitcoin investment is not for the poor rather is for those who have a stable income reason is because even if they experience lose in the market it won't have any negative effect on them, you know poor people always have a different mindset, poverty can even make them see bitcoin investment as scam that they rather use their money to  buy some food stuffs than to invest it in bitcoin. of course you can't invest with empty stomach, is just like those people who prioritize bitcoin investment more than their health those people are making a very big mistake.

Investment na for who get money, nor be for common man wey never chop and just dey struggle to survive. If you are not financially capable, investing is in no way for you, and your first focus should be getting money to survive with, not investing. If anyone has an interest in investing in bitcoins, their first focus should be to first become financially comfortable, then sort out their basic needs, especially feeding and shelter, before seeking to invest in bitcoin.

People who profit from investing in bitcoins are the people who have enough invested, not a few naira.

For sure they say Bitcoin is for everyone but I don't believe it, just as you highlighted here that average Nigerians can't afford 1 dollar when it was just #366 and now 1 dollar is approaching #1600 so how are they going to cope with it what I even see here is decrease of members who previously partake in Bitcoin because things are getting cost but salaries are not being added so alot of people are going to pause.
63% of poor people wallowing in poverty is a very bad record for a country like Nigeria, Giant of Africa precisely even mining and other crypto currencies will see alot of inconsistency because everyone who find it hard to earn a dollar won't risk their belle for sub for internet sake.

Another angle to see that sentence (Bitcoin is for everyone) I think it's trying to let know that everyone wether rich or poor can follow up.

Na for u to check how ur pocket take Ballance because at any cost money matter dey involved.

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.