Can Bitcoin End World Poverty? - page 152.

CryptonomyCapital

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Quote from: avikz on June 28, 2017, 08:07:01 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.

The article does not speak about bitcoin, but about how blockchain technology will help to cope with the shadow economy in developing countries and as a result will reduce poverty.

Daniel91

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I don't think so.
In order to end world poverty we need to educate children, give them electricity, pure water, Internet etc.
Political changes are needed, end of political corruption, economic development, infrastructure development, good health care...
You can't do it with bitcoin.
I'm sorry but you are to idealistic and don't understand reality.
Money is not enough, people have to change.

DatGuyDoe

newbie

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2 things:
First of all, Bitcoin is just money; nothing special there that would end poverty.
Second, a lot of poor people don't have an internet connection; so how are they supposed to use Bitcoin?

MWesterweele

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It has a possibility that bitcoin might change the world but, it will take many years before it will be. We cannot change a thing so easily. But we hope so that oneday bitcoin might help us all especially those who are very lack in needs.

pacifista

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I think it depends on the situation. Bitcoin can only end the poverty of those who knows bitcoin,but those who dont know anything about bitcoin, they are always in poverty in thier entire life like on some places were technology have no room.

BrewMaster

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There is trouble abrewing

bitcoin is just money, and like any other moneyz it can not do magical things on its ow. people can use it as a tool to make more moneyz an make themselves richer by increasing their net worth but to expect bitcoin to end world's poverty is just absurd in my opinion!

karasuri

full member

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NO
People think of poverty, occasionally, as a character flaw. As though the impoverished were able to stop being in poverty, eventually if they just get to work. This may be true, but the work that needs to be done is part of social, part laborious. It's laborious. But it's also social because people are the typical roadblock for the impoverish. Some virtual stuff can't end world poverty

YuginKadoya

legendary

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I really think it will not entirely end poverty, because if a person does not have such knowledge in such feat I think it is very impossible for someone to just invest in bitcoin and hope it will take a leap up then boom your investment will automatically just make you a billionaire, It will really take a serious teachings to someone to really understand bitcoin, well a 12 year old become a billionaire because of bitcoin because he has skill and knowledge with it, but for a country to get up to poverty I think poverty will never end even in the richest and largest countries will always have poverty.

YOYOY

member

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Well it not just easy as that, it should have process to begin with and and the main is to educate the whole world about bitcoin. It's not also easy that the whole world will embrace bitcoin because not all of us is the same way of thinking. Many will favor but much will hate but for them to better understand that bitcoin would really end world poverty they must first understand what it means and its goal.

Humanxlemming

sr. member

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Well with one snap of bitcoin it cannot end the worlds' problem which is poverty. It is always up for the people to move by themselves. It is on the people that is on that situation, it is up to them if they still wanted to live or they wanted to die as poor. There are a lot of stories I've read saying that there were many people born as poor but died as rich. Well for them to end their poverty using bitcoin they need the literacy to do it. At least they need to be media literate to deal with this.

ranih

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Snip - The Future of News on the Blockchain

I don't see how bitcoin is helping people in Africa getting food or avoiding wars.

avikz

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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.

links

newbie

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For me i think so..

http://www.forbes.com/sites/steveforbes/2015/04/02/how-bitcoin-will-end-world-poverty/

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