Topic: Can Bitcoin create an opportunity to reduce poverty? - page 8. (Read 1191 times)

It can and it has in the past. Bitcoin is one of those investment ventures you can take with as little money as you have, and with a little bit of stroke of luck and proper timing end up with not necessarily a fortune, but money that would last you for a long enough time. And the even better thing now is that, compared to 6 years ago bitcoin is a much safer cryptocurrency to invest now risk-wise. Cause no matter what happens you have a safety net that's backed with a strong foundation of millions of people and years in the market. So yeah, bitcoin can create wealth and financial stability to anyone willing to take the risk, as with any other type of investment venture out there. Only difference is that you can make the choice even if you're a minimum wage earner.

If you are knowledgeable and skillful with bitcoin, then why not? I have known people who have transform their lives from poverty into living comfortable lives right now because they believe in bitcoin and because they make sure to maximize bitcoin opportunities while they are still available. Poverty will never be completely eradicate but with bitcoin's presence, life can be more meaningful and valuable if we make sure to never miss single opportunity from bitcoin.

If we can use bitcoin in a more positive way, like taking advantage of all the opportunities that bitcoin has, then I am more convinced that bitcoin will really reduce the poverty that we are facing at the moment. And if more people will be introduced to bitcoin, then there will be more chances that poverty will slowly eradicate in time.

Bitcoin will not turn poor people into rich but with great opportunities that bitcoin has to offer, I can say that bitcoin could be our future that will help us not to fall on deep poverty. In fact, a lot of bitcoin investors and traders have already experience life's comfort and luxury due to bitcoin but let's not assume that it all happened in an instant, but it really takes couple of years before they come to that position.

Even with my own experience with bitcoin right now, I can say that my life has slowly improved with the help of bitcoin. But let me remind everyone that bitcoin is not a get rich quick scheme, so we should avoid thinking that way like fools and ignorant ones.

Times are tough for folks everywhere nowadays.  The economy's in the dumps and money's tight all over and  come Christmastime, lotsa people don't got the scratch to make it home to visit their kin. 

I reckon crypto could be a real blessing for developing countries.  Give access to banks and such that they aint got otherwise.  Help safeguard their savings from inflation too.  Seems to me teaching crypto's a right good notion.  With any luck, more places'll cotton on before long.

I don't think Bitcoin could help reduce poverty where the entire economy has been facing inflation. Inflation increased globally, so the problem isn't limited to a single jurisdiction where Bitcoin could help. Bitcoin is also part of the economy and can't play any role in reducing poverty. There is no alternative to earning bitcoin if you want to reduce poverty, which is impossible. Otherwise, you have to invest, which isn't possible for poor people. We have to reduce inflation first to reduce poverty. Bitcoin would help, just like any other currency.

I'd say yes but this is for individuals not entirely for the poverty that a country is dealing with.
Bitcoin is just like any other assets and opportunities out there. If grabbed, then those people that have believed and spent their money on it will see its appreciation in the future.
But those that are just looking at it and then not doing any actions, nothing will happen to them just like the typical investments too.

It is important we all come to terms with the fact that that, there never will be a time when poverty can be completely eradicated from our systems and every one in the world become rich/wealthy, this is not possible and will never happen, and this is because, if everyone becomes rich, or have alot of money at their disposal to spend anyhow they want, money will lose its value, and things will surely become way more expensive than they have ever been, thereby throwing some people back into poverty again.

And besides, believe it or not, the world wasn't created in such a way that every one should be rich, even God said it in the Bible that there will always be poor people amongst us, and it's our duty to help them, for in doing so, we are blessed.

So, in terms of eradicating poverty completely around the globe, bitcoin or altcoins have no such ability to do so, fiat has unlimited supply, and yet many are still thrown into poverty every year, what then can bitcoin and crypto currencies with limited supply in general do?

Bitcoin isnt an internet magic money that could solve out global problems that had been existing since the beginning of time in speaking about poverty but somehow into those people who are aware of its existence and does really know on how to deal up with cryptospace which it isnt only just limited to Bitcoin but also in other cryptocurrency as well. It would really be something that pertains about individual handling when it comes to making income on which it could really potentially resolved out that poverty that you are experiencing or having a life with. This is something not a solution for poverty in a snap but rather it would really be still needing for you to deal with and do some hard work and make some good decisions with it for you to be able to make money. It is really just that a very wrong mindset into those people whom do really believe that Bitcoin would really be the solution on a global problem such as this, without even trying out to realize on what it is, and whats the real purpose of its existence. Investment and making money opportunity is really just that a bonus
and people should be thinking up that way.

Traveling in Christmas period is not an agenda of humanity in this season again because the transport is times ten. Where we were paying $1 as of back then in 2011 to 2015 is now $6 to $6.5 US dollar as if present dollar rate in Nigeria. And really Bitcoin elevates a lot of youths or people from poverty. If there was no Bitcoin technology many people were just hopeless in the society so as Bitcoin came, many use the opportunity to grab it and today they are doing well in their areas. The scarcity of fuel and fuel subsidy affect the economy very badly but if the government wants to do something about it to reduce the price of goods and services, they can do it but they are part of the oppressive class so they won't do anything to reduce the prices of fuel and other things for the Masses to used. They are very happy that the masses are even suffering.

I'm responding to this through the caution or subject of the thread, bitcoin can reduce rate of economic crisis or inflation in a country that know the values of bitcoin and invest in bitcoin, so if some countries who invested in bitcoin when the price was low has made a lot of profit now, so therefore I believe that bitcoin investment can eliminate a country inflation and can also bring individuals from poverty when you have the knowledge, like if you invest In bitcoin when the price is low I believe that when the price after five years time and bullrun occur it will make you the investor to be out of poverty.

You are expecting too much from the governments and from bitcoin as well, if things are so bad where you live I do not know how do you expect the government of your country to provide free transportation for the holidays, even this is something I do not remember ever seeing on developed countries, also you can learn about bitcoin and altcoins for free as I doubt any forum member ever paid any money to learn more about this market, and finally while poverty can be reduced it cannot be eliminated, as there will always be some disparity between the wealth of the individuals, with some being richer and others being poorer.

There are so many sources online where you can learn all about bitcoin for free. Bitcointalk, Youtube, Github, bitcoin books e.t.c all these are free and available for anyone with a smartphone. Bitcoin cannot completely eradicate poverty, like other assets you need money to buy Bitcoin. How can someone who doesn’t have money to buy food afford to invest in bitcoin?

Why can you be so sure that cryptocurrency can solve the problem of poverty in that country. However, on the other hand, you say they have difficulty meeting daily food costs. Cryptocurrency investment is still quite speculative and people will get a lot of pressure when involved in it because generally speaking cryptocurrency will have quite a lot of coins in it. It's the same with bitcoin and I think it will be much more difficult to get involved in it when society is experiencing much more serious financial problems. Never mind buying bitcoin, it is difficult for them to meet their daily needs and how could they possibly think about investing. Poverty is becoming a serious problem today and many people are starting to find it difficult to live a normal life, education costs are high, transportation costs are increasing and health costs are increasingly out of control thus creating a much bigger problem for society.

Teaching others bitcoin is a good step so they can understand how to do it, but if people don't have healthy finances then it will be much more difficult for them to get involved in it. It's the same as when you talk about investing in bitcoin to people who are experiencing the effects of war and disaster in their country and they will never care even though bitcoin is a step that can bring someone to the stage of financial freedom

OP, are you speaking directly from a specific country?
Well these things you made mentioned happens in other countries too not only your own country, where you have bad roads, transportation is something the poor complain about and you expect the leaders to do something about it, that's where they get their pay from.
Where you talk about poverty and Bitcoin or Altcoin coming to save the day I feel is not going to be possible even if the government approve the use of Bitcoin, as in making it legal I don't see it kicking poverty out. And is a choice to teach Bitcoin without taking any penny, you get paid for teaching or not , it doesn't change the fact that poverty is something we have to live with.
Teaching Bitcoin can't take away poverty but it can only educate people on how to go about it but when you say it will reduce poverty I doubt. It will only increase our knowledge about Bitcoin.

I think poverty cannot be completely eradicated.If bitcoin is legal in the country you live in then you can freely teach and explain bitcoin to people around you no problem.But there are some countries where Bitcoin is completely illegal like our Bangladesh.The rate of poverty is very high in our Bangladesh.Bitcoin can reduce poverty it is true that there are many guys who are unemployed if they can learn bitcoin or earn money by working on bitcoin forum then their poverty will be overcome.
It is true that you can invest in bitcoins in addition to having a job. As I am currently working in a private company and also regularly investing in Bitcoin with part of monthly salary. This is very beneficial for me as I can invest with the amount as per my convenience. I also decided that I would keep this investment for a few years and continue.

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.

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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

In a nutshell, bitcoin cannot turn a poor country to a rich one. It is the government that will create jobs and not bitcoin.

If they can set aside a little money to buy Bitcoin as an investment and keep it long-term, they may have a chance to make a profit in the future. But poor people won't consider investing because they are more concerned with meeting their daily needs. So they must think about their daily needs first rather than investing.

People need to open their minds to invest to prepare for their future. And people need to learn about cryptocurrency to know its functions and benefits so they can start using it. However, the problem of overcoming poverty depends on the government and each individual's efforts to improve their lives.

And with the convenience of the Internet, people can get more information. They can learn more about it. And if they can find out what Bitcoin does for them, they will want to invest in more Bitcoin.

You can start with yourself mate. First teach yourself then your family members, friends and so on. As you mentioned poverty and bitcoin, I'll tell you how it is in my place. First of all, it's banned in our country but we use it anyway. Second, it really is reducing poverty. Our lifestyle changed rapidly because of bitcoin. Before the introduction of bitcoin, we had much much employment problems. But now young educated generations are going towards bitcoin and crypto space. As of this moment, we are self employed. But before that, we had to search for jobs with much lower success rates. Also we gained our financial freedom. Bitcoin opened an entire new world to us. Apart from everything, the only problem that we are facing now is the ban issue. After it gets lifted we can hope to start teaching others became at this moment, we are using crypto in secrecy.  

You see, maybe you should understand this one more thing about bitcoin, being a decentralized digital currency, it does not only renders you with the privacy that you want with your finances, it also gives your financial asset an opportunity to make profits when you're holding them in bitcoin asset over time, this is one of the greatest benefits in which banks cannot even try to attempt on that, when you're also ready to exchange it to local currency, the value would have increased as well, so there are more to these that serves as benefits to the reasons why people will always keep seeking to Know about bitcoin.

I think it is possible to create opportunities for poverty reduce through Bitcoin. Where banking services have not fully penetrated, this can be done through skilled people, facing challenges such as Bitcoin technical hurdles and price volatility. However, not all countries allow the use of cryptocurrency. Moreover, only few people are know about bitcoin.