Topic: Can Bitcoin create an opportunity to reduce poverty? - page 7. (Read 1295 times)

Exactly don't waste time waiting for them to guide you on it, technology has advanced to the point where you can learn by yourself by conducting research on the Internet and you will understand how bitcoin works because there are many people who don't want you to succeed in life, even if they have ideas about bitcoin investment they will hide it because they don't want your success they will hold the update and making money on it, since everything you want to learn about Bitcoin is available on the Internet you don't need to wait to ask anyone to help you out expect you need more explanation on it, and you need to find a better person that as been in bitcoin investment for long time and guide you steps by steps.

I don't think they'll find anything in this world that can completely eliminate poverty because there are some people who will never succeed in this life and will never be wealthy. Even if you try to explain something to him so that he can do and get money, he'll say he's not interested so bitcoin is just a coin that you need to invest in to make money, and you need to use money to do it, because investors use money to make money. Even if you don't have money, you can't manage a business. The poor need a place to flourish but don't have the money to get into the economy, thus poverty will never go away but it can be lessened by opportunity.

Bitcoin can create employment opportunities for traders, developers, marketers, and all, but I don't see how Bitcoin can eradicate poverty. Bitcoin won't make the economy better on its own. Transportation won't get better if Bitcoin is taught even in schools.

What we should do is how to have multiple streams of income. Get a skill, and start a business. If you want to earn income from Bitcoin you can learn a skill in it.
The government doesn't want to make the economy better, they just care about their pockets so we have to do something for ourselves.

Yes, bitcoin can give opportunity to most people who will believe in it, and not only in Bitcoin but also in other cryptocurrencies can also give profit to anyone who takes a risk here. And I have not seen anyone who has made money in the crypto space who has not decided to face the risk in this business industry.

But for most of the rest of the world, this is not an opportunity for people who don't fully understand this kind of thing. Rather, they even think that this is a scam, which it is not, but scammers often use it to scam investors that they can fool.

It depends on the person, do you want Bitcoin to be your source of poverty breaking solution? The answer is it's possible, only if you want Bitcoin to do that for you, but you need to help yourself first before you will get the results you so desire, you need to accumulate many Bitcoin as possible, you don't need a whole Bitcoin, just get what you can and hold for some years.

It seem impossible for those who are not smart because the value of Bitcoin today is very high, but that's what many people thought when Bitcoin was over $1000, they said it's too high and not possible to make future gains anymore.

They will probably say the same when Bitcoin reach six figures too, so don't be confused by such people, with Bitcoin anything is still possible, Bitcoin total supply is limited and that's one of the good reasons its value will keep increasing.

first, understand that poverty can't be totally eradicated from the world using any defined method. People being poor is a function of so many factors and no matter how you create a system that will reduce the rate of poverty ravaging the land, some people will still remain chronically poor because of their poor decision making skills and their inability to handling resources that comes their way.

Going to your analogy on how tye hike in the price of fuel has been a manor problem and the fact that if bitcoin is taught in out local communities it would help to reduce poverty, I doubt tye problem of the people in the local community is related to bitcoin or can be solved through it. What most people need in their local community is basically an improved way of doing their farming, fishing or any other business they are doing. It's not compulsory that everyone should know about Bitcoin or even accept it, if a reasonable number of people know about it and are working  it adoption then i feel that is good enough

NO!
 I don't want to give biased opinion just because I am a member of a cryptocurrency enthusiast group or I own bitcoin and other alts, but I just want keep things real.
Even if you give a poor person a piece of bitcoin or a piece of gold bar so they can sell it and start from there, there will still be a huge chance they'll go back from being poor again. No matter how the government offers free education about crypto or about financial management in general and things like that, if a person doesn't know the value of it, it wouldn't work either. Therefore, the only opportunity we can have to reduce or even get out of the poverty is having self discipline, persistency, and the knowledge on how to manage our finances. So to cut things short, nothing can help a person get out from the poverty if he's not willing to help himself first.

Yes it can help you to get out of poverty if you are intentional about it. Some while back used to be broke despite having monthly paid job till one of my younger brother introduced me to Bitcoin trading and since then I never lacked. This has help a great deal though Bitcoin teaching and acceptability has been free over the years many people are still afraid to invest because they have wrongly invested in other crypto and have lost all their monies but if they can bank on Bitcoin they might yet win again

This question has been asked far too many times. Short answer is, no, bitcoin cannot end poverty nor poverty can ever be eradicated. So long as there is money, there will be poor people and there will be rich people. There has to be a working class in order to ensure that things get done. If everyone has the same amount of wealth, no one will work another day in their life again and will just consume goods with what money they have.

Bitcoin offered a chance at wealth redistribution, but with only a handful of people believing in it, plus the highly technical requirements it had prior to being widespread, it didn't have that much effect in today's economic landscape. It may have made new millionaires, and have changed the lives of some people who were once stricken with poverty, but that's just a little drop compared to the sea of poverty that a lot of people are still swimming in.

That's exactly what I'm thinking of.
As an example, the first country adopted Bitcoin as a legal tender, I didn't hear that most of their people improved through Bitcoin.  The fact is, that Bitcoin was created because of financial freedom against banks and to become a peer-to-peer transaction.  It wasn't also promised an earning when it was first introduced.

As they can see Bitcoin has experienced significant price increases since its inception in 2009 (the day was created).  Many early adopters and investors have seen substantial returns on their investments and the historical performance has led to this perception that investing in Bitcoin can be a lucrative opportunity.  That's might their reason.

By the contrary, if Bitcoin continuous to be seen as simple an investment and with the increasing of the price it will be even more concentrated in a few rich people. The more the price increases, the few people has access to it because of the huge fees and there's no incentive for poor people to use Bitcoin.

Short answer to the question in the topic: No.
Bitcoin, in its current form is simply too expensive to use as a means of payment, not only for people in developing countries, but even for those in developed ones. Currently, you need to pay >$10 for an average-sized Segwit transaction, but could be much more if your transaction is larger.
Bitcoin, at best, could be a way of preserving wealth and a tool to protect oneself from high inflation (much more common in poorer countries), but it doesn't work as an alternative for fiat money.

Alleviating poverty is the government's obligation to its country, if the resources are lacking while the human population in each country is large then it will be difficult to alleviate poverty as a whole.

The government will not advise every citizen to have bitcoin as a solution to poverty they do not like this way fiat will still be used so that the government has full control even though the inflation rate continues to rise every year.

I think you can create better opportunities with bitcoin but it is individually where those who have an interest in bitcoin, then you learn how to work and make money here, if someone does not have this ability then he has no chance of a profit.

Bitcoin still has high volatility, volatile prices some people are still reluctant to believe in bitcoin even though many people say bitcoin has affected the world economy.

It is difficult to rely on Bitcoin as a poverty alleviation.
This is really the job of the government, Bitcoin is just a revolutionary digital currency tasked with providing transaction security and transaction transparency.

Nothing will change if every country's human resources do not have a good interest in technology.
Moreover, Bitcoin is quite risky with high volatility, this requires special treatment and detailed education.

See how in some countries Bitcoin is banned like in Bangladesh, they don't want to accept Bitcoin in any form and strictly prohibit it.
Even though, the level of corruption there is quite high.

There will be no poverty alleviation if the country does not do it internally first.

There are some success stories of people lifting themselves out of poverty with bitcoin investments or things like bounty campaigns, but this is not scalable - there are billions of poor people and only a little earning opportunities. Holding long term is also not a solution because Bitcoin will not increase in price x100 like did before, and x2 or x3 gains are not enough to make a poor person rich.

El Salvador is a  pretty poor country and they adopted Bitcoin a few year ago - did it improve the lives of average citizens? Most likely not.

For me, Bitcoin has some role to play when it comes to poverty but not totally. For me, the main goal of Bitcoin is for us to have banks on our own, using it for payments without third parties or for some inflation problem like the value of fiat keeps losing so more likely if you are saving your money, you losing the value.
But when it comes to poverty, we are the ones who must help ourselves to reduce poverty by making such investments or finding some work.

If overpopulation becomes a problem in a country, then the government knows what to do to control the population. There are some countries that have laws on birth control; as such, they have some means by which citizens get educated on childbearing and how to prevent unplanned pregnancy. Some countries approve of abortions and taking some contraceptives to prevent pregnancy, as well as encouraging couples to start family planning.

Like I said above, the problem of overpopulation actually has a solution, and the government of every country knows what to do if they want to tackle the situation of overpopulation in their country. They must not wait for the problem to arise first before looking for a solution to it.

OP, already, Bitcoin adoption is dominating every day, but Bitcoin cannot really make everyone around the world rich. In some developed countries, there are fewer poor people compared to some underdeveloped countries. The reason is that most of these developed countries have a lot of job opportunities or are privileged to earn money, while in the underdeveloped countries, there are only a few means for survival. So, if everyone must be rich, the economic system of such a country must be good, and there should be lots of opportunity for the citizens, which could help them establish themselves.

For example, imagine a country with 500 million people and about 450 million citizens who have very good knowledge of Bitcoin, but only 1 million people have the money to invest in it. Would Bitcoin still make the rest of the population rich? I mean, those who have the knowledge of Bitcoin but no money to invest, would the Bitcoin knowledge make them rich?

Not possible, right? That's to say, Bitcoin cannot make everyone rich. Remember that people still need to work to be able to raise some funds to invest in Bitcoin.

The "fairness" of bitcoin is that if you lose money, we all lose money, if you win money then we all win money. When the price goes %10 up, we all get richer. In fiat world, banks could do whatever the hell they want and they will be recovered with money from our own pockets, and if a company goes down, they will be given a loan from our pockets, whenever a big corporation does badly, they get our money, hell even for "progression" they get money, amazon got 10 billion dollars from government, meaning peoples money, to build a spaceship, at the same time they spent 10 billion to buy james bond catalog all together as well. They didn't need that money, they had 10 billion to build that spaceship, that's the unfair part of the fiat world. Crypto doesn't have that, we are all equals, your 10 million becomes 11 million, my 100 becomes 110, we all get the same results.

Bitcoin and altcoins can be obtained even in a free way, capitalizing on an internet connection and having social media, if there is a country that does not have it I think the country is very left behind. I'm not talking about people knowing crytpo since 2009 because until now there are still many offers to participate, especially altcoins, I myself still like to hunt. Indeed, we are waiting for the progress of the project but I am greatly helped, one of which can be for emergency funds or buying something useful, one of which is part of the house with the many projects that are followed. Even bitcoins are often distributed for free at events on this forum, and if you are accepted into the siganture campaign you can get weekly.

But if you want to winah and above, you can buy bitcoin and altcoins for daily trading and can even be a long-term investment. people who are currently buying bitcoin can in the future get for many multiples but it is worth the fluctuations in the market the risk is the same, detect when you should sell and buy.

Poverty can still be helped if you want to pursue it, meaning that if there are few jobs and educational standards are a requirement in a country, of course, to start looking for bitcoin and altcoins only requires diligence, many people pursue it until it becomes a job that produces whoever the person is.

It is no doubt that it is one of the best opportunities that each of us got into. So, if you're asking about creating an opportunity and reducing poverty then certainly it is true.

But you don't have to say as if it's the hope of the nations. Maybe but don't make it too dependable with that because not everyone is going to like what you're saying.

Stop also the rants and get all along with your own focus and make your own economy situation way better than before to be a living proof that Bitcoin did all of those for you.