Topic: Can Bitcoin create an opportunity to reduce poverty? - page 5. (Read 1310 times)

Bitcoin doesn't  really fight against poverty directly,  Bitcoin is just like a support to help people financially. When you are rich and you invest in bitcoin it increases the money that you have  on you. Bitcoin is a digital investment that is profitable,  it doesn't make people rich who have nothing and it is not an investment that people who do not have income can just jump into and it is not an investment that one can depend on it. It is only work, business that can help fight against poverty.

clear that you mentioned altcoins meaning this is not just about bitcoin but crypto instead?

also your post is very long without any cutting , sometimes reading such is annoying so please prevent from creating this kind.

and another thing is about  reducing poverty is not for bitcoin to create but for the world to understand and follow , bitcoin is only the tools.

Bitcoin's poverty-reduction potential is complicated. Bitcoin may not solve poverty, especially in Bangladesh. Uninformed or unprepared bitcoin users may suffer financial hardship due to its volatility and complexity. They may invest without knowing the risks and lose. Financial literacy is essential in this environment. Public education about Bitcoin is crucial. Only well-informed choices yield success.

Your Bitcoin forum experience shows another perspective: information and community empower. It shows that with instruction and strategy, Bitcoin may improve economic situations. It shows Bitcoin's potential for financial inclusion and empowerment beyond investment.

I recommend promoting Bitcoin through knowledge and judicious investing. This manner, we may use it to help the poor without risking them. Empowering individuals with knowledge and opportunities goes beyond Bitcoin.

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.

Bitcoin has the potential value to tackle hard economic system with the potential capacities to profer enrichment and reduces the level of poverty but not to completely eradicating global poverty as OP may be insighting and the significance random lectures about Bitcoins to the people as OP could also be agitating.

Bitcoin industry is wide spreaded for anyone to trade and Invest on but not for everyone because everyone might not be able to uphold with the patient and the alternate source of incomes demanded in other to achieve your goals of income neither is it everyone that has the capacity to tolerate with the risks involved in Bitcoin so basically, you don't have to be on one sided positive thought to initiating people to the world of Bitcoin. The prons and cons should also be considered.

No, actually Bitcoin make rich get richer, Bitcoin is risky asset for most people, when they don't have a lot money, they're not dare to invest in Bitcoin. Although Bitcoin could make you have an opportunity to multiply your capital, poor people don't want to take risk and hold it for long term.

The problem of poverty is education and access to resource, not Bitcoin or other investment.

Just teaching about Bitcoin or altcoins won't alleviate poverty, it can certainly provide valuable knowledge and tools to people who don't have access to the traditional banking system. Poverty is a complex problem that cannot be solved by a single technology  solution. Acceptance of Bitcoin and other cryptocurrencies as a legal form of payment from the government may have some impact on financial inclusion and economic empowerment for some individuals. Widespread adoption of these technologies alone will not solve the deep-rooted systemic problems that contribute to poverty. Addressing poverty requires a multi-pronged approach that includes education, access to resources and equitable economic opportunity. While Bitcoin and altcoins may offer some potential benefits, they are not the only solution to poverty.

 It is not that Bitcoin will free people from poverty. Legalizing Bitcoin in poor countries is guaranteed to make poor countries poorer. Like if I am speaking from my position in Bangladesh, if Bitcoin is legalized in Bangladesh then most of the people in this country will suffer by investing in Bitcoin. Because almost people are poor in our country. People in poor countries will invest in Bitcoin and sell at a loss due to scarcity. Bitcoin is only suitable for those who can hold it for the long term.

However by working on bitcoin forum people can make money from here and remove the poverty of his country and his family. I used to live a very bad life. I came across this bitcoin forum through a friend of mine and started earning from here by building a good position. Currently I am able to manage my family and grow investments with the weekly income I earn from here. Now I am earning money by working outside site permanently besides Bitcoin. From here I can say that Bitcoin forum can free the poor if they can earn from it.

It depends on the people, people who're in the poverty state of human society; not all people have the capability to give time and effort to learn something new like bitcoin or crypto currency. So even if yes, bitcoin could help those people in poverty, if they don't do this stuff or have patience to learn this stuff, then it will never help them. That's why I said it depends on the people themselves. For example, if a family is living on a street, do you think they will have the capability to do bitcoin stuff? Even if they want, they can't because of their incapability, so it's rather safe to say that bitcoin being a supplement or help to people will depend on the capability of the person. If they can have access to the internet or a device that they can use to study these things, remember that if they don't start or if they can't start to do bitcoin stuff, then they will never be helped to survive or change their lives.

There are some reasons why some aren't even spending the Christmas season.
Religion, work, lack of money, etc. Though high fares is also a reason, it isn't the only, and the main reason because I've seen some people here in my country that aren't even going to spend the season with their family because they will lose the opportunity to earn more money. I know it's kind of sad to think, but that's how they live. If they will not work, they will not have money.

This will not happen.
Just think of this. The government will offer free buses. People will flock to it because it's "FREE". The government will be having a hard time finding a bus company that'll do it, and at the same time, they will find a way to find money to be used for gas for the bus, and the payment for the drivers. Well, there might be some places that might do it, but most will not do it.

We can do it for free. In fact, many are doing it already and it's for free. There are some people who are introducing, and teaching Bitcoin to other people for free.

Bitcoin isn't the solution for eradicating poverty.
Poverty will not be eradicated anymore. Bitcoin will not be like a magic wand that when they use it, they'll be out of poverty already. Bitcoin isn't the solution. Mindset is the solution. The way they think is the problem. The way they handle money is the problem. The poor people lacking financial knowledge is the problem why they're poor. Bitcoin can reduce poverty, but it alone will not, and it needs other factors for a person to be out of the poverty zone.

Bitcoin may help the poor people when it comes to move money around, especially for those who work abroad and need to send money to their families in their own countries every few weeks/months because services like TransferWise etc take a big commission in order to do this transfers. What you are saying is pretty much impossible to realize right now.

Introduction of Bitcoin isn't very much of a problem in most countries where they do suffer the subject matter you did mention but I think what is the major problem dwells with the acceptance and acceptability of Bitcoin In these places, some of these countries have refused to accept or adopt the usage of but coin in their jurisdiction because of their personal interest of for security reasons. Teach Bitcoin in some of these are may not be very effective because they may end up not making use of the knowledge because it's not supported around the area.so the knowledge can't be explored fully to its potential.

Basically if the issues of policies with the government will resolved almost immediately and the adoptable of Bitcoin becomes no issues, I'm sure they will been.

Freedom is great until you are forced to pay over £30 in transaction fee (as I was forced to do recently). As I said before, Bitcoin in it's current form is absolutely not suitable for any regular payments. It could (and does) work great as an investment or for large transfers, but it's just too expensive and unpredictable to be used as a means of payment by poor people in developing countries. Lightning network offers some solutions to that problem but it still has too many limitations.

Bitcoin is freely being introduced in every nation.  Has anyone heard of a person disseminating information about BTC being arrested?  People who are arrested engaging in cryptocurrency are people who offers a fraudulent services but information dessimination about Bitcoin is not hindered by any means.  Those who are oppose Bitcoin, simply make their own anti-Bitcoin information campaign.


Bitcoin since it is one of the new technology offers an opportunity for the company to venture in.  This may create new jobs and opportunities to people but I do not believe that it can help in combatting poverty.  Unless the government make a program that can elavate the status of living of its citizen and make Bitcoin as a tool for it, Bitcoin alone cannot do the job.

We have so many ideas and plans on what bitcoin should be do and operate.
Bitcoin will not reduce poverty because it is not a magic wand. It is not a spell that can be cast over a poor nation with bad leadership, terrible economic policies and political climate, and high level of corruption. I want to see Bitcoin succeed at individual level.

In as much as I have the slightest knowledge of Bitcoin and cryptocurrencies at large I do not see any connections between teaching Bitcoin freely or at any cost and eradicating poverty from any country.
if you know the concept of Bitcoin you will understand that it has nothing to do will with eradicating poverty in a state (country) but for the status quo poor people who will find the advantages of Bitcoin can venture into it as an investment and in return move from their current social status. hence reduce the poverty in them but not eradicate poverty generally. besides Bitcoin knowledge has always been for free and nobody charges you for learning about Bitcoin because it's an internet based learn which you can get at any given time.

This should be possible because Bitcoin as a payment solution also offers financial freedom. but this is how users respond to the development of bitcoin, whether they can adapt to its existence or stay away from it. I've even been helped a lot economically by Bitcoin, which means I can answer the question briefly. It's just that each person will respond differently and how they are treated, not only can some people be rich, they can even be poor here.

Not at all but the only thing that Bitcoin helps us to change someone's life. IF all people invest in Bitcoin we can expect that all will also improve their living but having the fact that not all are interested and has the capability to invest this will never be a solution to the poverty issue of the country. Still, the government's participation has a big role in solving the poverty of the country and helping grow the economic system of the country but if the leaders and all government officials are corrupt, nothing to expect from them instead, they are making the situation worsen.

Bitcoin can create an opportunity to help reduce the rate of poverty to an extent like 20% if 70% of the entire population is aware of and invests in bitcoin, though bitcoin has limited liquidity. I believe if 70% of the population of the world understands the value of bitcoin and invests in it, it will create an opportunity to reduce poverty because bitcoin will make a lot of people understand investing and how money can be shared, although poverty cannot be eradicated because there will always be a winner and a loser due to FOMO, or level of greed, which is the screen of wealth creation.

Cryptocurrency could help people earn extra for them, but it is hard if it would be the only or main source of income.
If our salary is not enough we should learn how to earn more, don't settle for a single source of income.
For example some people from my work place are selling snacks, meals or other necessities for their extra income.
It is small profit, but if it would be accumulated daily it would be worth it.