Can Bitcoin End World Poverty? - page 148.

Mometaskers

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I read it and it sounds nice but it won't immediately lift a country out of poverty. First of all, infrastructures for internet have to be built up, unlikely in war-torn and starving countries. The "ownership" thing sounds nice but since they don't really earn anything to begin with, that won't help much.

IMHO the first thing bitcoin can help economies with is if it'll allow capital to flow in, like how BPOs are doing good for India and the Philippines. Less overhead cost for the business because of reduced fees.

Quote from: freeyourmind on June 29, 2017, 04:16:52 PM

Quote from: Novun on June 29, 2017, 11:34:05 AM

I don't believe world poverty can be ended until we abandon the capitalist mindset. The whole point of capitalism is that there are poor people. Bitcoin is just a value distribution system. It is a good system but still follows the capitalist mindset. If you want to end world poverty you need to adopt some sort of forced socialist system where wealth is redistributed to an extreme degree.

I agree with that. A socialist system with access to basic needs (food, water, shelter). But the system is managed by the elite, who desire to keep and grow their extreme wealth while other people starve.

The way things are working out, it seems countries that are openly socialist are making everyone (except the elite) equally miserable. But at least they got equality, right? Grin

And no, the Nordic countries don't count. You tell them they're socialist and they deny it.

freeyourmind

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Quote from: Novun on June 29, 2017, 11:34:05 AM

I don't believe world poverty can be ended until we abandon the capitalist mindset. The whole point of capitalism is that there are poor people. Bitcoin is just a value distribution system. It is a good system but still follows the capitalist mindset. If you want to end world poverty you need to adopt some sort of forced socialist system where wealth is redistributed to an extreme degree.

I agree with that. A socialist system with access to basic needs (food, water, shelter). But the system is managed by the elite, who desire to keep and grow their extreme wealth while other people starve.

izanagi narukami

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Quote from: sedrick on June 29, 2017, 12:05:27 PM

... Also the government has to legalise bitcoin so that every individual will know about bitcoin and it value. Will the government legalise bitcoin is the big question...

My goverment still not legalize bitcoin because bitcoin can be use for terorism activity
And bitcoin is unique currency yet investation so I think bitcoin difficult to end since more people getting interest on bitcoin as you can see bitcoin value increase from year to year

sedrick

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I will never accept that bitcoin can end poverty in the world. There are millions of people in this world and may be 50% of them will know about bitcoin. Then how can it end poverty. Also the government has to legalise bitcoin so that every individual will know about bitcoin and it value. Will the government legalise bitcoin is the big question...

xFiber

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Quote from: bouren on June 29, 2017, 11:43:05 AM

Quote from: Novun on June 29, 2017, 11:34:05 AM

I don't believe world poverty can be ended until we abandon the capitalist mindset. The whole point of capitalism is that there are poor people. Bitcoin is just a value distribution system. It is a good system but still follows the capitalist mindset. If you want to end world poverty you need to adopt some sort of forced socialist system where wealth is redistributed to an extreme degree.

Yeah, everyone need to understand that bitcoin is nothing but value carrying tokens. These tokens worth over $2500 now and almost out of reach of poors. I don't understand how people claim bitcoin to be poverty eradicator when it is internet money and internet is still out of poors reach.

Yea I don't see how this would end world poverty either. But if you're poor and you were able to snatch up some bitcoin when it was a t 100$ a piece I get how it could be life changing but the poor need to make the investment first I guess. Bitcoin doesn't care wheter you're rich or poor.

bouren

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Quote from: Novun on June 29, 2017, 11:34:05 AM

I don't believe world poverty can be ended until we abandon the capitalist mindset. The whole point of capitalism is that there are poor people. Bitcoin is just a value distribution system. It is a good system but still follows the capitalist mindset. If you want to end world poverty you need to adopt some sort of forced socialist system where wealth is redistributed to an extreme degree.

Yeah, everyone need to understand that bitcoin is nothing but value carrying tokens. These tokens worth over $2500 now and almost out of reach of poors. I don't understand how people claim bitcoin to be poverty eradicator when it is internet money and internet is still out of poors reach.

Novun

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I don't believe world poverty can be ended until we abandon the capitalist mindset. The whole point of capitalism is that there are poor people. Bitcoin is just a value distribution system. It is a good system but still follows the capitalist mindset. If you want to end world poverty you need to adopt some sort of forced socialist system where wealth is redistributed to an extreme degree.

freeyourmind

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Quote from: Lieldoryn on June 29, 2017, 11:18:35 AM

Quote from: Heyyyrenz on June 29, 2017, 11:00:46 AM

Bitcoin is a cryptocurrency in other word a money in the internet world, it's not connected into poverty eventhough you're in poor country and have a lot of bitcoins you cannot end poverty with just having a lot of bitcoin. Bitcoin has no magic that if you have it in your country the poverty will be gone. Maybe if it's a oil maybe if you have a lot of oil in your country poverty will be gone.

Big mistake to think so. Look at the situation in Venezuela. There's a lot of oil, but it does not help the people of this country to overcome poverty. There now there are even food riots. Bitcoin in the future could give the opportunity to earn money in another country where the income level is higher and it will really allow you to overcome poverty.

Also the wealth that comes from selling oil usually doesn't spread to the people. It stays with the elite and if anything may make poverty even worse for the common man. Oil doesn't come without corruption and special interests.

xFiber

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Quote from: avikz on June 28, 2017, 09:07:01 AM

Bitcoin is not a magic wand which will end world poverty. It simply doesn't have the power to end such a massive thing. Also bitcoin is not a payment system anymore. We have moved to a different goal long back, when the confirmation time increased and transaction fees hiked. These confirmation time and transaction fees is going to be increased again and again. So we will move from the initial goal further.

Bitcoin has now purely became an investment asset. IT can provide a huge return which any other conventional investment will never be able to offer ever. So I take bitcoin purely as an investment and a trading asset. I earn profit and keep it for the future.

I use bitcoin for the same purpose right now. But I don't think bitcoin will only ever be an investment asset. There are already stores and start-ups accepting bitcoin for services or goods so in that sense bitcoin isn't only an investment asset. But for you and me it probably is. However I'm confident that the issues you mentioned will be solved sooner or later.

Lieldoryn

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Quote from: Heyyyrenz on June 29, 2017, 11:00:46 AM

Bitcoin is a cryptocurrency in other word a money in the internet world, it's not connected into poverty eventhough you're in poor country and have a lot of bitcoins you cannot end poverty with just having a lot of bitcoin. Bitcoin has no magic that if you have it in your country the poverty will be gone. Maybe if it's a oil maybe if you have a lot of oil in your country poverty will be gone.

Big mistake to think so. Look at the situation in Venezuela. There's a lot of oil, but it does not help the people of this country to overcome poverty. There now there are even food riots. Bitcoin in the future could give the opportunity to earn money in another country where the income level is higher and it will really allow you to overcome poverty.

qwertyup23

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Remember OP that bitcoin is an alternate cryptocurrency which can be accessed through the use of the internet. While it has the potential to at least alleviate poverty, it cannot fully end poverty since not all people from the marginalized sector have access of the internet. Also, the most basic way of earning btc is through joining campaign signatures, which requires someone who has knowledge and who is literate enough to make constructive posts. But if they have the determination and drive to engage with it, then the quest to end poverty starts there.

Bagaji

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Well to some extent the advent of Bitcoin or crypto currency should be able to reduce poverty to some reasonable level, most especially the unemployed in the societies that could have access to internet should be able to make a living from bitcoin.

Heyyyrenz

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Bitcoin is a cryptocurrency in other word a money in the internet world, it's not connected into poverty eventhough you're in poor country and have a lot of bitcoins you cannot end poverty with just having a lot of bitcoin. Bitcoin has no magic that if you have it in your country the poverty will be gone. Maybe if it's a oil maybe if you have a lot of oil in your country poverty will be gone.

mrfreezeh

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Quote from: slackcryptoz on June 29, 2017, 07:13:43 AM

Quote from: dream_maker82 on June 29, 2017, 06:47:10 AM

Bitcoin will not be able to solve world poverty, because it is only a currency that still needs to be earned. The poorest countries now do not even have the opportunity to even know what it is due to the lack of computers and the Internet.

Agreed, right now the people who are much aware about bitcoin is the one who are knowledged as well have good source to make them educated. This is lacking with the poor, so one in the poverty level never thinks about bitcoin or something else, there major focus will be on next time food.

It very simple, not have money and knowledge about Bitcoin, poor people will never use Bitcoin although Bitcoin have potential and can growth in furture. The main reason is they not know buy Bitcoin and hold it 1-10 years maybe become tơ Million Dollar Grin

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Quote from: kpcian on June 29, 2017, 08:54:10 AM

I don't think that...
Bitcoin can never eradicate the poverty from the world, it is prerequisite that internet and a computer is necessary on order to be connected with Bitcoin so that a poor person can't afford to log in this platform, if a poor doesn't able to use it then how Bitcoin is helpful for eradicating poverty in the world...

I'm with you. There is just a whole lot of people within the world, ending poverty would be pretty tough due to a bunch of reasons.

Most people that are old don't know how to use computers that well. So Bitcoin would seem like some kind of video game or something to them.

People that like playing sports and doing things outdoors prolly won't hear of Bitcoin till the price of Bitcoin drops down to zero.

freeyourmind

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Quote from: Sniper150 on June 29, 2017, 10:07:48 AM

Quote from: pacifista on June 28, 2017, 10:07:51 AM

I think it depends on the situation. Bitcoin can only end the poverty of those who know bitcoin, but those who don't know anything about bitcoin, they are always in poverty in their entire life like in some places were technology have no room.

I think so, bitcoin is for those who are interested in Bitcoin. Those people who focused in bitcoin is no poverty. They are able to self-reliance because he/she can support itself by bitcoin. Poverty exists because of the different types of people. Laziness is the number one reason why poverty exists. People who have perseverance itself is the one who succeeds.

Poverty is not based primarily on laziness. You think there are entire neighbourhoods, towns, cities or countries that suffer from being lazy? Poverty has a lot to do with luck in terms of where in the world you're born and what you're exposed to. Without proper exposure to financial independence, it's very difficult to achieve that when no one around you is achieving it.

Bitcoin is just a currency, and IMO no easier to obtain than fiat. Just because there is interest in Bitcoin, doesn't mean it can automatically be generated in a way to support yourself.

Sniper150

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Quote from: pacifista on June 28, 2017, 10:07:51 AM

I think it depends on the situation. Bitcoin can only end the poverty of those who know bitcoin, but those who don't know anything about bitcoin, they are always in poverty in their entire life like in some places were technology have no room.

I think so, bitcoin is for those who are interested in Bitcoin. Those people who focused in bitcoin is no poverty. They are able to self-reliance because he/she can support itself by bitcoin. Poverty exists because of the different types of people. Laziness is the number one reason why poverty exists. People who have perseverance itself is the one who succeeds.

Sled

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Bitcoin- in bullish time

Bitcoin can't end the worlds poverty because it is not like a magic that will work as soon as you grab it or use it because bitcoin is not that easy to use and to earn money from it that will become the bridge for people to end the poverty, in fact bitcoin is here to just solve the current issues that we have in money and not in poverty, if they want to end someone's poverty then those people just need to work hard.

kpcian

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I don't think that...
Bitcoin can never eradicate the poverty from the world, it is prerequisite that internet and a computer is necessary on order to be connected with Bitcoin so that a poor person can't afford to log in this platform, if a poor doesn't able to use it then how Bitcoin is helpful for eradicating poverty in the world...

slackcryptoz

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Quote from: dream_maker82 on June 29, 2017, 06:47:10 AM

Bitcoin will not be able to solve world poverty, because it is only a currency that still needs to be earned. The poorest countries now do not even have the opportunity to even know what it is due to the lack of computers and the Internet.

Agreed, right now the people who are much aware about bitcoin is the one who are knowledged as well have good source to make them educated. This is lacking with the poor, so one in the poverty level never thinks about bitcoin or something else, there major focus will be on next time food.

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