Topic: Can Bitcoin create an opportunity to reduce poverty? (Read 1191 times)

OP how many people do you no in the whole wild world that is poor there are more than billions of peoples who are poor.
See let tell each other the real truth the problem here is not about  teaching bitcoin after the teaching do they have funds to invest in it that the question here
Do you no most people do not eat three square meals in a day and now here you are talking about teaching.
Come to think of it who do you think will be the host of the  classes??  do you think the government that does not care about the poor all they all after is there own fame and riches and power..
OP there is a saying in my country side that says “Na money them Dey use find money “ this mean you have to use money to get money that just sample as that, so will you to forget it the government can not the reduced the rate of poor peoples.

there is no way bitcoin will be introduced without having a counterpart or opposition so Bitcoin has been introduced since and many country Rise Against the existence of Bitcoin so it is not something that every country will embrace the same time or at any point in time so I think that why some Nations refuse to welcome Bitcoin as a real currency which is being derived from cryptocurrency or a digital asset is because they are confused of Bitcoin and the all their mindset is that bitcoin will take over their traditional currency so I believe that bitcoin the problem today is because of government.

There is something that I want us to understand concerning Bitcoin, this currency that is being produced by satoshi nakamoto is not to take over traditional currency or to make people rich but it was introduced or lesser the transaction of people from different continent to another continent that is why bitcoin is being meant or being introduced to the world, but people since Bitcoin like the shortest way of making money or getting rich, for me it is not the way I see Bitcoin I see bitcoin as a digital currency that I have it on power of regulation and it cannot be tamper or being controlled by any government, so that is how I seem Bitcoin my only definition

So there are two questions here,
1. Can Bitcoin create opportunity?

Definitely, anything new will create opportunity, Bitcoin directly/indirectly has create a new Industry a Blockchain & Crypto Industry. I know that Blockchain and Crypto has been exist before Bitcoin but the industry only emerge after Bitcoin gain popularity. With new industry there are more business opportunity and thus it create job opportunity.

2. Can bitcoin reduce poverty.

It might but it won't be significant, there are deep structural and systemic problems that cause poverty, 1% of people are richer than the 99% combined, the cycle of poverty lead to lack of education, lack of education lead to less low income job, low income job lead to poverty and so on and so forth, Bitocin alone will not solve these problems.

It has already created cross-boarder opportunities that has ended eradicating poverty to heights never envisaged.

It was not perceived that a system will rock the change that loads of economies will benefit from directly or indirectly.

Trading Bitcoin in anyway has become a major business for people even without the involvement of brokers to mediate transactions.

The concept of startups has also met its tremendous success because of Bitcoin.

It is almost immeasurable, considering the time of Bitcoins birth till date as compared to the normal societal approach.

My plan with Bitcoin is pretty straightforward – I'm holding onto it for the long haul, kind of like how you'd hang onto stocks from big names like Apple, FaceBook (certainly no Twitter).
I've set aside a chunk of my paycheck to regularly buy a bit more Bitcoin. It's like playing the long game; I'm betting on its value going up over time. Plus, buying consistently helps smooth out the ups and downs in price. So yeah, that's my game plan – keep building that Bitcoin stash bit by bit and see where it takes me.

Nope, the introduction of Bitcoin isn't likely to reduce poverty. Historically, trading systems have evolved from bartering with items like shells and fruits to using currency, yet poverty has persisted. The fundamental issue of poverty isn't necessarily tied to the type of currency in use, but rather to broader socio-economic factors, including the distribution of wealth and power. Typically, those who benefit most from changes in financial systems or the introduction of new currencies like Bitcoin are individuals already in positions of power or with substantial resources. Without addressing these underlying systemic issues, the mere introduction of a new form of currency like Bitcoin isn't sufficient to significantly reduce poverty levels.

First why generalise the statement without mentioning a particular country or you mean to post this on your local board, because not every country faces what you talked about and since the statement is not a global phenomenal statement, it will be hard for others to contribute to what you are saying.
AInmy country, what you mentioned are some of the challenges that are facing us as a country, and the acknowledgement of that is what has made many youths in my country to embrace and adopt Bitcoin and other offers that can help ease the impact of this economic situation on the youths.

Firstly, I would like to appreciate your efforts in writing all this. Actually, bitcoin has already helped many people in life, but not everyone will be rich because, even though bitcoin knowledge is freely thought out, some people find it hard to invest. This is one of the factors that affects many poor people, but it's not that they don't know about bitcoin but still find it hard to invest. For instance, you can’t come to someone who has lots of depth on him and tell him to invest in bitcoin; it is not possible, and again, some people are meant to be poor. You can’t change their destiny. You can look at your fingers and find out that they are not equal, so in life they must have those differences; if not, there will be a great problem.

And again, most of the things you have been mentioning are some challenges affecting Nigeria, but I don’t know if the same is happening in other countries. The high rate of inflation in Nigeria is getting out of hand, so our leaders and government have to work hard together with the people living in the country to solve the problem of this inflation.

Bitcoin can create an opportunity to reduce poverty but it can never be a guarantee to eradicate poverty. Bitcoin is just a tool, so if one uses it to its advantage and maximize bitcoin investment, then he will surely see growth and prosperity in his life status. But bitcoin alone, does not mean being rich or wealthy. It’s up to you how you will use it to gain wealth. A lot of bitcoin owners are still not considered rich, because they don’t use bitcoin to double its potentials and gain wealth, but rather use it to satisfy their wants and needs in their life.

looking at the current economy in this world, not all countries are developed and prosperous because of course there are always those where the country's economy is not good or the economy is declining and I think that in case the role of the government is very important to make the country developed and prosperous. indeed introducing bitcoin or altcoins is a good thing with the aim of making a country's economy progress, but of course if you are involved in crypto then knowledge must be prioritized and there must be education about bitcoin and altcoins which is provided by the government for free to the public because If you get involved in crypto without knowledge and knowledge it will definitely cause losses because investing in Bitcoin and altcoins is very risky.

In my opinion, investing in Bitcoin will have the potential to make the economy progress, but in my opinion investing in BTC would be better if it is just a side job. and it would be better to be involved in business in the real world, such as being a farmer and so on. because in my opinion we have to embrace both, namely investing in btc and business in the real world and that way the economy will have the potential to progress. So the point is that Eradicate poverty is not enough by investing in BTC alone but of course it must be supplemented with other things.

Bitcoin can do more than what you just said if the people who earn through bounties and signature campaigns save up money to own some Bitcoin, the total number of people who's into bounty hunting and signature campaign can't be compared to the number of persons who don't have access to smart phones and laptops which can be used do all the signature works and bounty hunting.

If people are not earning through the services they render on the forum and they don't hold Bitcoin which can elevate them when the price goes up I don't think it has solved unemployment problems because not everyone will benefit from it.

I think teaching about cryptocurrencies, especially Bitcoin and altcoins, is a very interesting idea. Educating people, especially those in financial distress, can make them more knowledgeable about cryptocurrencies, which can improve their financial literacy. This, in turn, can help reduce poverty by providing people with new opportunities in the world of the digital economy.

It really depends on the individual though, I mean for us, who has money, definitely we can put some on Bitcoin and see if grows. But it's not that easy for everyone, and I will say that majority of us here could be lucky to found it, and then earn for whatever we can, (sig campaigns, bounties->convert it to BTC, and others). In countries though that there are poor infrastructure, or at least access to the Internet is not that good, then maybe they are aware of what BTC or crypto is. So BTC shouldn't be treated as like having a power to turn everything around like reducing poverty and other problems in our society. It might help, but totally we still need to work in order to have money to invest in BTC or any other asset for that matter.

Some of them had the opportunity back then but because of high financial responsibility they had back then, they sold their bitcoin for cheap price, anybody that you see today that is still holding bitcoin since 2011 to now have other means of income and bitcoin is their reserve or as back up plans. This is what the poor man can't do because any small price increased they see, they sell immediately when they are meant to be holding bitcoin for as long as the price keep increasing.

Each year they celebrate Bitcoin Pizza, I get cold because someone actually use 10 bitcoin to buy a pizza, that amount today in bitcoin price will buy them pizza everyday for the rest of their remaining years on this earth but the person has used it to enjoyed pizza in 2010.
Anybody that has missed those golden days of cheap price should do what they can do to get any amount they can afford to buy and not wait for cheap price again, those price may not come back again.

Yes Bitcoin can increase one's standard of life by giving good returns on investment but the basic thing which a person needs to invest into Bitcoin would be money hence if a person is lesser wherein it would be for their food and expenditure then there is no way they can invest into Bitcoin and originally Bitcoin is no where related to making people rich as Bitcoin was created as decentralized P2P which ahs gradually being used more often as a investment medium.

Of course Bitcoin does not solve the problem of poverty in a country, let alone eliminate hunger. because bitcoin is a valuable asset and to get it requires money.

But indeed, if someone has money and does DCA on Bitcoin, this is one way to increase his finances in the future. The bottom line is that when it comes to crypto investing, your chances of gaining financial freedom in the future will likely change the fate of someone who was previously financially unstable to stable. Bitcoin can alleviate poverty for those who want to invest in Bitcoin.

The underlying fact is that we will always have the poor amongst us and there's no way poverty can be totally eradicated it can only be cushioned, even the government they can only try doing their best in rendering and providing social welfare services and employments but yet it still won't eradicate but rather cushion the effect of poverty, and this is something that bitcoin can't do either, bitcoin can only add to the cushioning of the effect of poverty on people (those that have adopted) .  If you're in a country where your local currency is gravely hit by inflation it is wise you start saving your money in foreign currency like the US dollar or importantly in bitcoin but also consider it's volatility into mind.

Buddy in this point I will these agree with you because Bitcoin can't create any think it is just a currency I mean cryptocurrency. People have to make their own opportunities if you talk about Bitcoin then for investing in Bitcoin at first you have to have enough money for that.
And the unemployed people you mentioned who are making money from bounties and signatures are not actually helped by Bitcoin, they may just be getting their work paid in Bitcoin. So what I think bitcoin has nothing to do with poverty alleviation, bitcoin has to do with protecting privacy and enabling a decentralized economic system.

Bitcoin can't create anything, since it's just an inanimate currency without free will, conscience, desires, needs and everything else a human being has... But through Bitcoin people can proportionate new opportunities to reduce poverty in the world, as it's a decentralized currency which can be easily adopted by anyone, since they have an internet connection and proper device. To be able to work online to someone on the another side of the world and be paid in BTC is a great opportunity for everyone to raise their incomes and thrive financially.

However, opportunities are still scarce and most people can't take advantage of Bitcoin, since they don't have money to invest, and not being able to find jobs offers on the internet. The virtual labor supply is just too high for the current demand from the market. It ends that only few lucky individuals manage to earn money online, while the vast majority still perishes, despite the disgusting and delusional propagandas made by coaches and social influencers telling it's easy to make online income and everyone can work online.

I was watching a documentary yesterday displaying Mumbai's slums, where poor workers were making 6$ daily income through plastic recycling. How could those people invest in BTC with such low amounts of money? Probably they don't even have money for all their basic needs at first place. So, Bitcoin is definitely not reaching those people. It's not helping them to leave poverty, because they can't adopt Bitcoin, neither have means to work online to earn it as extra income.

I believe Bitcoin hasn't been helping people to get rid of poverty, rather it's helping middle class citizens to raise their life standards, while some of them have been able to become rich through investing in Bitcoin during the early years.

Actually it depends on the status of the person cause as we saw many people around the globe which is poor And they can't provide Their needs even their meal. So  if Bitcoin will get inside the country and known then not all people can afford to buy some Bitcoin and then hold it until the price will go up. Like what you said above mate there are many investors who are greedy or let say they don't have patience cause they buy bitcoins when the price is in top and then after a few months it's ho down and down then those investors how are greedy they sell Their Bitcoin even though they don't have profits. Which pretty bad idea.