Bitcoin does not make you rich but it helps you boost your opportunities to become rich in the future. For those who have been investing in bitcoin in the early years, I guess at the present they are already enjoying their success and the benefits that they have gained from bitcoin. So it's very clear that bitcoin offers opportunities to get rid off from poverty, but it won't happen for a quick but know that the process will be tough and would take quite long for before you can see positive results.
Patience is the key. If you don't have it, you will never have the right timing to be in profits with bitcoin.
Topic: Can Bitcoin create an opportunity to reduce poverty? - page 3. (Read 1310 times)
It's hard to tell because in a scenario where bitcoin will solve poverty, it's just one of the many factors to the reduction but not eradication and it's not even the best factor to reduce because they're better off having bitcoin as a long-term investment but the impoverished people can't afford to do that because they're thinking on a more day to day basis in terms of expenses. If these people would be able to hodl bitcoin for a really long time though, they're definitely going to be able to have a big help to get out of poverty.
Bitcoin is not an office job or government empowerment to reduce poverty, and it's obvious that bitcoin is something that have to do with already made money and I believe that without you having your money to invest in bitcoin you can not make profit, and also two things is involved in bitcoin, and one thing that is more important is ability to study when the bearish season and bullish season will occur in bitcoin investment, so therefore I believe that bitcoin can only make you to escape poverty when the luck of bitcoin investment is on your side.
The only thing with bitcoin is that if you invest your savings in bitcoin, then the rate of investment in bitcoin will be high and one can gain significant return on this investment if he or she is willing to hold it for many years.
Other than this , bitcoin won't help to reduce the poverty of a common man. You need to have a job or business that generates income that you can invest in bitcoin.
So I really believe that bitcoin can offer opportunities that will reduce our poverty, that is if you are knowledgeable enough to use bitcoin in the proper way.
What kind of opportunities are you talking about exactly? And what is the proper way of using Bitcoin?
Note that OP is talking about reducing poverty on a macro level, not about individuals getting rich from trading Bitcoin.
The sad truth is that Bitcoin currently is not fit to be used for anything other than trading/speculation (and maybe for transfers of large amounts of wealth).
Yes, Bitcoin is capable to do that but it will surely take a lot of time before you will see bitcoin is starting to make it happen. But lets make it clear that bitcoin providing an opportunity to reduce poverty is different from bitcoin considered as a get rich quick. It provides ways and opportunities but the chance to make it happen relies on you completely, and not on the high potentials of bitcoin.
If you have the knowledge and skills that you can make use in bitcoin, then there will be a bigger chance for you to finally reduce your poverty and live a more convenient and comfortable life.
If you have the knowledge and skills that you can make use in bitcoin, then there will be a bigger chance for you to finally reduce your poverty and live a more convenient and comfortable life.
Bitcoin is a life changer and only those who have been successful with bitcoin can only attest to that. So I really believe that bitcoin can offer opportunities that will reduce our poverty, that is if you are knowledgeable enough to use bitcoin in the proper way. Because if we blindly use bitcoin and see it as a get rich quick, that will never give us profitable results but will only lead us into series of losses.
However, if you have the risk management with bitcoin, and you're more persistent and patient yo achieve your bitcoin goal, then it will be easier for you to reduce poverty and create positive changes in your life later on.
However, if you have the risk management with bitcoin, and you're more persistent and patient yo achieve your bitcoin goal, then it will be easier for you to reduce poverty and create positive changes in your life later on.
It certainly can and it certainly did. It surely does help in reducing poverty. Bitcoin itself doesn't have the power to reduce poverty but if one knew how to utilize bitcoin, then it could be used to reduce poverty. That's why bitcoin education overall crypto education is needed to be spread to everyone. From where I live there aren't many who knows of crypto or bitcoin. Only a few knows of it are using it. So first we have to change this.
It may have been the case that Bitcoin was recognized by poor people and that these people were able to get out of poverty by investing in Bitcoin. From this perspective, Bitcoin is an opportunity for many people. But this is only true for those who heard about Bitcoin at the time and invested in it.
Of course, Bitcoin always offers opportunities for investment, but there are poor people who cannot afford to invest even if they know about Bitcoin. They don't have the option to change their situation by investing.
If you invest in Bitcoin at the right time, you can get out of poverty. Other than investing, it is not easy for Bitcoin to alleviate poverty because it is not easy for Bitcoin to reach all of humanity and it is not easy for awareness about Bitcoin to reach everyone.
It certainly can and it certainly did. It surely does help in reducing poverty. Bitcoin itself doesn't have the power to reduce poverty but if one knew how to utilize bitcoin, then it could be used to reduce poverty. That's why bitcoin education overall crypto education is needed to be spread to everyone. From where I live there aren't many who knows of crypto or bitcoin. Only a few knows of it are using it. So first we have to change this.
Bitcoin is not an office job or government empowerment to reduce poverty, and it's obvious that bitcoin is something that have to do with already made money and I believe that without you having your money to invest in bitcoin you can not make profit, and also two things is involved in bitcoin, and one thing that is more important is ability to study when the bearish season and bullish season will occur in bitcoin investment, so therefore I believe that bitcoin can only make you to escape poverty when the luck of bitcoin investment is on your side.
My answer is yes and I have a reason for this answer, there are many people who are here that is from countries with a high level of poverty ( please no one should take it personal is just an analysis) most of these people have in one way or the other come across a job that they are been paid in Bitcoin and mind you their exchange rate can never be compared to the price of bitcoin, so there are people that are into exchange of Bitcoin, if not for the existence of bitcoin they wouldn't have gotten the popularity the have today, if I start recounting, bitcoin has done more good in terms of reduction of poverty than bad, despite that, it is not everyone that's aware of bitcoin, the people that has this information has benefit a lot.
Sure, Bitcoin is not some magic pill that would solve all the economic problems only if people start using it - it could actually be the opposite: too many people using it = even more congested blockchain making it unusable. But the protection against inflation aspect is not something to be taken lightly. I don't think people truly realise how destructive high inflation is to the common people. It can wipe out the value of lifetime savings in a very short time. It's like a tax being charged over and over again on the same amount with no limits. So having a censorship-free tool that allows preservation of wealth (or even increases it if the market moves in the right direction) could at least prevent poor people from getting even poorer.
People are very aware of the effects of inflation on their savings, and the poor are also very aware of how inflation can worsen their standard of living. It may not be necessary for everyone to use Bitcoin, and only those who can understand its advantages and take advantage of it will buy Bitcoin. I am convinced that the more expensive Bitcoin becomes, the fewer people will try to buy it, despite the fact that it can be bought in small parts. It been a big challenge in most country since the fuel subsidy and bad economy some country are facing.A lot of people find it difficult to feed themselves and families, Now it Christmas season alot of people don’t have transport to go their various stats due to the high cost of transportation, bad road and insecurities in some nation, some many lose intrest. As a good country the government should have free bus for less privileged to travel home for season like this.that why cryptocurrency should be taught free to individual with serious mind, with the rate of overpopulation and poverty in the country it something everyone or most people suppose to learn because the world is going digital and our currency is not appreciating compared to other currencies and the value is so low.that why am suggesting that Bitcoin and altcoin should be taught free of charge and the knowledge should be pass to the younger ones since they are the leader of tomorrow let see how it can reduce the rate of poverty or eradicate poverty entirely in every Nation. The world is suffering and Bitcoin should be introduced in every nation and should be freely
First, this post is more about the agony of your country men and the bad government. I think it is best fit in the Nigerian local board, who knows if the president of Nigeria will decide to join bitcointalk and may one day stumble on this post. This could be by 2035 and they will provide free bus.
On the question if bitcoin can reduce poverty. It is no longer a new thing. Bitcoin has done it and will continue to do it. But then, bitcoin is not a get rich quick scheme. For you to benefit from bitcoin, you will have to do any of the following;
- Have a job and then be investing in bitcoin
- Own a business and DCA with your profits
- Have a skill, offer services and ask people to pay you with bitcoin
- Become a minner
- Maybe the easiest, is to develop a good writing skill, grow your account here and join a signature campaign
Senior your very correct I think you nailed it all your idea and point of identification Maline with the issue on ground area of Bitcoin changing people story many have testify and many eye have seen what Bitcoin is doing grate in the life of so many poverty can't be eradicated completely but I want to tell from experience Bitcoin has reduced the level of poverty and unemployment in some aspects mostly in youths all over the world that engage on the market and selling process of Bitcoin no body go into business without profit for people to engage on this Bitcoin really show is capable to reduce poverty and change the situation of hardship into good success all you need if engage is to use the opportunity very well apply wisdom it will change your level because many refuse to change no matter the level of change that take place around them for me evidence show that Bitcoin is capable to do.
On the question if bitcoin can reduce poverty. It is no longer a new thing. Bitcoin has done it and will continue to do it. But then, bitcoin is not a get rich quick scheme. For you to benefit from bitcoin, you will have to do any of the following;
...
This is a very good reply. Bitcoin is often praised by maximalists to be a solution for everything - but Bitcoin is not a solution for everything. ...
Your post is a good start to see that Bitcoin's opportunity to reduce poverty is real - but also limited in reality. Other factors are much more important, like outlined in your post.
In addition, relying only on Bitcoin to reduce poverty can backfire:
Some people even might end up with a loss from Bitcoin for whatever reason, because at some point, Bitcoin might not have anymore these big cycles and losses can become much more frequent. For previous cycles, HODLing 4 years was enough to get into the profit zone, even when buying Bitcoin very overpriced (like December 2017).
This might change in the future as Bitcoin's cycles tend to have a lower all time high but during bear markets, prices can drop 80% or more. Bitcoin is gaining less % every year on average.
Bitcoin's Halving (and therefore the 4 year cycle) will lose importance over time as miner rewards are not a big deal very soon in the future and constant tx fees will create miner rewards.
If our hopes in Bitcoin are too high and we forget to improve anything else, we might end up very disappointed.
In a nutshell, bitcoin cannot turn a poor country to a rich one. It is the government that will create jobs and not bitcoin.
+1
On the other hand, if the poor invest, it's just a waste of time. Small investments will yield small returns, even over a significant period.
I completely disagree with your statement. I agree that poor people will have a lot of difficulty investing in bitcoin but that doesn't mean they shouldn't invest in bitcoin. On the contrary, I even consider bitcoin or cryptocurrency as the biggest opportunity for the poor because besides bitcoin, other investments such as gold or real estate cannot bring them many opportunities, or they do not have enough of the ability to invest in them. But with bitcoin, they can start with whatever capital they have. With a modest amount of capital, poor people will receive very little profit from bitcoin, but if they accumulate bitcoin for a long time, I don't think it will be a small amount.
But I agree with you, poor people should improve their knowledge and skills to get better jobs with higher income, and should not rely only on bitcoin and consider it the only way to get rich.
We can view BTC differently for each individual. Yeah, because up until now, I've seen many people using BTC as a speculative asset, while others use it for transactions. Some even unknowingly use it for investment and savings. If we maximize BTC as a speculative asset and investment, it definitely brings profits, but I don't think it's a great fit for adoption by the poor. I don't want to see them risking their limited wealth on Bitcoin, which is highly risky for short term speculation.
On the other hand, if the poor invest, it's just a waste of time. Small investments will yield small returns, even over a significant period.
In my opinion, the poor need better skills to support their careers and business growth. Yes, it depends on the level of poverty, so the required skills vary. Bitcoin, however, can't foster the proper skills to impact the career or business world.
The use of bitcoin for the poor is more appropriate for later stages. There should be basic stages mastered by the poor for development, and once their foundational skills are strong, Bitcoin can be an advanced option.
So, in my opinion, Bitcoin can help reduce poverty, but it doesn't happen directly or instantly.
On the other hand, if the poor invest, it's just a waste of time. Small investments will yield small returns, even over a significant period.
In my opinion, the poor need better skills to support their careers and business growth. Yes, it depends on the level of poverty, so the required skills vary. Bitcoin, however, can't foster the proper skills to impact the career or business world.
The use of bitcoin for the poor is more appropriate for later stages. There should be basic stages mastered by the poor for development, and once their foundational skills are strong, Bitcoin can be an advanced option.
So, in my opinion, Bitcoin can help reduce poverty, but it doesn't happen directly or instantly.
It been a big challenge in most country since the fuel subsidy and bad economy some country are facing.A lot of people find it difficult to feed themselves and families, Now it Christmas season alot of people don’t have transport to go their various stats due to the high cost of transportation, bad road and insecurities in some nation, some many lose intrest. As a good country the government should have free bus for less privileged to travel home for season like this.that why cryptocurrency should be taught free to individual with serious mind, with the rate of overpopulation and poverty in the country it something everyone or most people suppose to learn because the world is going digital and our currency is not appreciating compared to other currencies and the value is so low.that why am suggesting that Bitcoin and altcoin should be taught free of charge and the knowledge should be pass to the younger ones since they are the leader of tomorrow let see how it can reduce the rate of poverty or eradicate poverty entirely in every Nation. The world is suffering and Bitcoin should be introduced in every nation and should be freely
I dont see Bitcoin as something that is going to solve poverty or reduce poverty at some point, I mean Bitcoin is a digital currency it's a great tool for sure but it wasn't created to solve this kind of problem.
Probably this is up to the government how are they going to solve or this kind of problem also it is a problem around the world and we dont really have a way to completely solve it because the government is just the ones that is doing things that causes poverty.
The way I see how it is going to help reduce poverty is through knowledge and education, with this we could help reduce poverty, if we have Bitcoin knowledge and give education to others we could probably help them to have a positive mindset that we already have as an investor, I mean personally when I learn about Bitcoin my mindset was really change about money and investing, I think it is one problem of the people having the wrong mindset being control by the government being an employee forever or just not having the knowledge on financial and investing.
This is not just an overstatement but it's certainly true based on my personal experience. I have been with bitcoin for quite a long time and it really brought significant changes in my life. But of course, it doesn't happen instantly, but you need to work for it. Bitcoin definitely create opportunities to reduce poverty, and those who know and understand bitcoin well will gain the advantage but for those who sees and use bitcoin in a wrong way, it will lead them to live a poorer life.
Bitcoin creates opportunities but everything depends on how we established our mindset about bitcoin. The reason why we have to gain prior knowledge about bitcoin so we can deal with it positively.
Bitcoin creates opportunities but everything depends on how we established our mindset about bitcoin. The reason why we have to gain prior knowledge about bitcoin so we can deal with it positively.
I don't really think that Bitcoin and cryptocurrency in general can reduce poverty in the world or in any country unless we have a good economy. In fact, Bitcoin was not created to eradicate poverty in the world or in any nation; it was created as an alternative to fiat currency in others. We can use it to secure funds so that we can be fully in control of our funds. And one thing I know about Bitcoin again is that it can be a great help to us against inflation because fiat currency losses value in the short term, and when you invest in Bitcoin for a long period of time, it is very possible that money will keep growing when the price of Bitcoin is increasing, but I will advise you not to invest the money you want us between short-term bitcoin investments.
Sure, Bitcoin is not some magic pill that would solve all the economic problems only if people start using it - it could actually be the opposite: too many people using it = even more congested blockchain making it unusable. But the protection against inflation aspect is not something to be taken lightly. I don't think people truly realise how destructive high inflation is to the common people. It can wipe out the value of lifetime savings in a very short time. It's like a tax being charged over and over again on the same amount with no limits. So having a censorship-free tool that allows preservation of wealth (or even increases it if the market moves in the right direction) could at least prevent poor people from getting even poorer.
I don't really think that Bitcoin and cryptocurrency in general can reduce poverty in the world or in any country unless we have a good economy. In fact, Bitcoin was not created to eradicate poverty in the world or in any nation; it was created as an alternative to fiat currency in others. We can use it to secure funds so that we can be fully in control of our funds. And one thing I know about Bitcoin again is that it can be a great help to us against inflation because fiat currency losses value in the short term, and when you invest in Bitcoin for a long period of time, it is very possible that money will keep growing when the price of Bitcoin is increasing, but I will advise you not to invest the money you want us between short-term bitcoin investments.
Re: Can Bitcoin create an opportunity to reduce poverty?
Bitcoin is not a tool to alleviate poverty.
Bitcoin is a new type of currency or is referred to as a peer-to-peer electronic cash system as I know in the Bitcoin white paper which has 12 parts which are explained in detail in each part.
Of course Bitcoin plays a great role in poverty alleviation. There are many members in this forum and most of the members who have rank are working on various signature campaigns of this forum. Different members get good amount of money at the end of the week according to ID rank and pay rate of different signature campaigns. Those who once had a hard time managing their families are doing well thanks to this forum and Bitcoin is definitely one of the virtues of poverty alleviation. Many people have been able to transform their financial situation by investing in Bitcoin. Many unemployed kids have chosen bitcoin forums as their employment. Apart from doing various jobs on bitcoin forum they are regularly investing and trading which is clearing their financial problems and leading them to live a good life.
It's not Bitcoin that can alleviate poverty, but the bitcointalk.org forum might be able to help someone financially than you intended.
In this forum, I myself felt how I was helped because of the signature campaign. The most real impact I felt because of this forum, I no longer depend on my parents for financial matters because at the exchange rate with my local currency, the pay is enough for me to live my daily life.
This forum is not a job in my opinion. If I'm wrong, correct me.
Why not a job, because many high-ranking members do not participate in signature campaigns but every day they make quality posts on every different discussion topic.
They don't focus on signature campaigns. For them, Bitcoin paid campaigns may or may not exist.
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