Topic: Bitcoins and it's potential - page 2. (Read 832 times)

when there are those who profit from bitcoin, then there are also those who lose money, therefore bitcoin can overcome poverty by having knowledge about bitcoin so that we can respond carefully to the movement of bitcoin and can generate profits according to our thinking. or in investing by investing in bitcoin and being able to hold it, one day its value will rise and can exceed the inflation rate that occurs so that it can save our money. especially now that bitcoiners are still minimal, if later they develop further, then that is an opportunity

Yeah this is the thought I already got in this one. It’s just currency, I mean like dollar and sterling. Why does it make sense to think like this way? I mean come on, if this was gold, silver or anything else that is traded physically or virtually with a value then does it mean it’s gonna make us rich? I don’t think so.

More than that poverty and richness is all associated with the education, employments within the country, international business relations with other countries and much more. It’s a big subject to discuss to be honest.

While I don't believe bitcoin can ever become a currency or a legitimate payment method because of its volatility and decentralization, I agree with your thinking. I also thought about this, bitcoin cannot be more convenient than fiat in daily transaction needs because of transaction fees and confirmation times. I don't want to pay extra fees for a cup of coffee or a loaf of bread so fiat is still a better option. But Bitcoin is well-suited as a means of payment for import and export transactions and cross-border transactions because the use of banks slows things down. But will the banks let that happen because they will lose a huge source of revenue if bitcoin replaces them? That is very difficult to come true.

Bitcoin has been tarnished by mishaps and misunderstandings. I empathize with the public's Bitcoin concerns based on your words. This innovative digital asset is hard to grasp. Bitcoin's hostility may stem from people's fear of the unknown. Education and honest, clear information can modify this impression. Bitcoin's negative uses overshadow its potential as a decentralized, global currency in the media. Bitcoin, like other currencies, is a tool. The user choose how to use it. Large corporations entering the Bitcoin market has legitimized it and increased adoption. This trend may accelerate Bitcoin's mainstream financial integration. Bitcoin's potential impact on the global economy is astounding.

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Bitcoin wasn't invented to solve poverty, it was investment as a more transparent means of exchange that depends on decentralized blockchain. If anyone wants to solve  poverty issues they'll have to do that by investing and it most not necessary be investing in Bitcoin.

Poverty can be eliminated in various ways like nvest in Bitcoin or make other investment that has been proven to be successful in the past. if you have patience you can make profits then those profits has to be used wisely like investing in your businesses or accumulate Bitcoin.

Bitcoin has potential to make the world a better place where no body has control over your money or you been restricted on when you can send out your money or use it for purchases. Bitcoin was never intended to be used for poverty eliminations so OP don't misinform others.

   Well if you ask me I will say eradicating poverty via the assets of bitcoin will be super exciting news but the barrier still remains the fact that it is yet to be a general means of exchange. Secondly on the verge of making your opinion a reality I see a whole lot of persons being depressed and even suicidal as a result of being scammed and that alone is a bench mark of discouragement.

Of course, Bitcoin is ruling the entire crypto currency market today. One day Bitcoin will rule other places besides the crypto currency market. People who spread negative news about Bitcoin or the crypto currency market will never succeed. If people who are aware of Bitcoin continue their efforts to attract people to Bitcoin. We should tell people that Bitcoin is a great option to invest for the future. There are many businesses to invest in for the future but I think Bitcoin investment will be the most profitable. I think the time is not far when many countries will use Bitcoin as a currency, and surely that will be the best era of Bitcoin.

if we compare bitcoin with fiat the transaction mechanism of bitcoin maybe better. paper money need physical effort for long distance transaction and it is costly, because maybe we need to pay service of the third party such as bank and etc, the longer the distance maybe the more cost for it. I think bitcoin has potential to become currency for export and import transaction, maybe it can be more efficient for some transaction. as long as internet is available then bitcoin will not have problem with the transaction. it can reduce unnecessary cost which may reduce the product price. it is just my opinion, maybe its not really correct.

poverty is determined by many aspects that cause it to happen, I can agree with you that bitcoin is not fully able to reduce poverty, but it is possible that bitcoin is one that will be able to provide relief from this poverty, by providing opportunities to be able to carry out all activities what can be done with bitcoins. but once again it can change if there is an intention to do it but if there is no intention to do so it will be useless even if there is an opportunity. It must also be remembered that bitcoin is still not fully accepted in several countries and this is of course a challenge.

That must be a good point, many people, especially newbies, think that they might get rich after making an investment in Bitcoin which is not true, one can surely get great profits through it if Bitcoin manages to go up significantly after they've invested, but to get rich off of it, one will need to invest a very big amount which is not possible for a poor person to do, so it's basically not good to expect life-changing returns from Bitcoin when you don't have much to invest in it.

The dream of the poor to get out of poverty might get fulfilled if they manage to enter a meme coin hype when it's just starting and buy with their small capital, once it gets hyped heavily by the community and goes significantly high, they might see their few dollars turning into a few thousand, maybe.

Yes, that's right, bro, even though bitcoin is a solution, not all things that are considered good can be done by bitcoin. Bitcoin is just an asset and a currency. I am very sad to see that the members of this forum are still wrong in understanding bitcoin, especially people out there who don't know bitcoin, so it's only natural that many people think bitcoin is negative, because they really don't understand bitcoin.

I think many people don't have enough literacy about bitcoin so bitcoin is considered something negative. Moreover, sometimes the media spreads bad news about cyber crime with bitcoin, money laundering with bitcoin, dark web transactions with bitcoin, etc. Even if they know of the profit opportunities from owning bitcoin assets, they may be able to make huge profits. Currently, many large companies have started to look at the potential of bitcoin, hopefully it can create a positive trend for the growth of the bitcoin community

I don’t quite understand how that get to come in when you say “can’t reduce poverty especially through a p2p transaction mechanism”. How do you mean or of what relevance it is to the parent sentence?

I agree with you that bitcoin can’t reduce poverty as we like to think because, if you aren’t skilled in some way to either earn them, work and get paid in cryptos or earn well enough money to buy and hodl, your still going to be stock right wheee you are.

It’s a currency and like currencies, it’s used in exchange of values. This means,
You’ve got to have some value to exchange for them btc and vice versa.

Bitcoin can alleviate poverty, bitcoin can reduce unemployment, or bitcoin can help a country's economy grow if that country accepts bitcoin...too many misconceptions about bitcoin are spreading and passed on in our community. I don't understand why so many market participants without any research just invest in someone's advice and have such serious misconceptions. Bitcoin is just a currency, and to get money, we need to work hard, no one gives us free money.

Well maybe what you say is true. But it seems that OP also has a different meaning about the meaning of poor that he mentioned. like it's not just a matter of financial poverty. but more to freedom in transactions as with the decentralized system that is owned by Bitcoin.

Owning bitcoin at this time cannot be said to be able to change someone's life for the better in the near future. but if bitcoin adoption goes and grows well year over year. 10 or 20 years later, maybe the price will be really high beyond all of our expectations. If all agencies and countries have adopted bitcoin as a legal payment alternative in every country, the price of hundreds of thousands of dollars may not be a dream anymore.

The person who got bitcoin from its inception and still holds it today. then I'm pretty sure the holder has been helped and will become very rich if he sells it at this time or when the bitcoin reaches its ATH again. because we know at the beginning of the appearance of Bitcoin. getting some bitcoins is not difficult. because the price is quite cheap. but what makes it all so hard to hold onto is because at that time not many expected that bitcoin would become as valuable as it is today. because the current bitcoin price must have been beyond everyone's expectations 10 years ago.

I don't see Bitcoin being able to reduce poverty, especially through a peer-to-peer transaction mechanism that doesn't depend on third parties. Even if bitcoin becomes widely accepted, it can replace fiat currency and become a more efficient means of exchanging value may not necessarily reduce poverty. Moreover, the implementation and widespread acceptance of Bitcoin is still a challenge that needs to be faced in various countries.

to replace fiat currency in countries today it is very difficult, most countries want to control our money flow, but with bitcoin it is not possible

I don't know if this is due to the lack of knowledge of the newbies or the spread of a part of the bitcoin fanatic because I see many people looking at bitcoin as the savior of the world, bitcoin can be a panacea for our planet. In my opinion, this is actually more of an alarm than a joy when people are exaggerating about bitcoin.

Quite frankly, bitcoin is just money, nothing more, nothing less. Whether we improve our lives or not is entirely up to us, not bitcoin will do it for us. If we want to get out of poverty and be rich, then work hard and invest anywhere as long as it is profitable, bitcoin is not free, and it will not give us financial freedom if we just sit still and do nothing.

Reduce poverty? If you are not smart in this crypto space poverty won't be very far from you, I want you to know that whatever price you buy coins and tokens someone else will have to buy from you, you will have to dump on them to get your bag of money.

Bitcoin is not cheap any more so even poor people who can afford small money won't make a life-changing money from Bitcoin investment, so you saying that it's Bitcoin investment will reduce poverty is not correct, Bitcoin was easier to get years ago and now it's a digital Gold because if it's value, you can get some part of a BTC but even 10 times of what you invest can't turn your life around and get you set for life.

Bitcoin is not a panacea that will solve worldwide issues; it won't solve poverty in third-world countries, but certainly it can assist economically, but mostly on a personal level. Personally, I've been occupied with cryptocurrencies, specifically Bitcoin, since a young age, which has made a huge difference as an individual. Not only am I investing, but I'm also simultaneously saving money every month without needing to rely on a bank that keeps track of your every move. Bitcoin has proven to have huge potential; the previous ATH suffices to make such a claim, but as I mentioned earlier, it can't solve broader issues, and on top of that, it's not supposed to be an anti-poverty measure just because it's an anti-inflation investment. Those who live in poverty don't have access to Bitcoin or investments.

The question of trading bitcoin comes only after you have an established base of money to bear your bare necessities and doing surplus on top of that. I see the future of Bitcoin trading having a prosperous aspect but the basic needs come first.

However bitcoin does not solve a poverty problem with this. It can help people make money but that money comes from existing money and not out of thin air. There are many who are in this thought process and hence assume that Bitcoin will solve their problems, it's not the case. Rather those who are in stable economic conditions need to segregate their assets in such a way that money can saved for trading to make money. However this is all words and not practical unless you have the capital at hand.

Enthusiastic people should at first try to improve their own conditions first but then grow it with time and gradually collect bitcoin and increase their stash.