Can Bitcoin help? | Bitcointalksearch.org

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Quote from: Dr.Bitcoin_Strange on November 05, 2023, 01:36:16 PM

Quote from: Dimitri94 on November 04, 2023, 11:42:25 PM

Especially people in countries with high poverty rates should not invest in Bitcoin

Still, in those countries, there are rich people who are investing in Bitcoin, as well as some poor people who are investing in Bitcoin too. Saying that poor people don't need to invest in Bitcoin doesn't make much sense. Normally, those who don't have the capital to invest in Bitcoin can find a job or business that they can earn from to invest in Bitcoin. Some people too might be poor, but yet they always have enough money to feed three square meals a day. Yeah, it's a fact. Bitcoin can help those who invest in it, and to invest in Bitcoin and hold it, the individual needs determination and discipline.

I also disagree with this statement, poor people should invest more in bitcoin if they want to escape poverty because this is their opportunity. If the poor ignore bitcoin and this opportunity, it will be very difficult for them to find a second chance and their life of poverty will be longer. But before investing, they need to consider their circumstances. They need to ensure their daily needs before thinking about investing in bitcoin. In case they are too poor, they need to work harder and save more to invest in bitcoin because as I said, it is a rare opportunity for them and should not be missed.

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Bitcoin is really helpful if you use your money to buy it so you can have it. Like, literally speaking, it won't help if you don't have it; that's the logic there. Even if we say that you have extensive knowledge of Bitcoin, if you don't have any holdings in it, your knowledge of it is irrelevant.

That's why the others here, even if they don't know yet, are already investing in Bitcoin while they are learning about this too. Because they can keep up with the truth. And Bitcoin has helped a lot in various ways, as long as you have it in your account wallet balance, of course.

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Bitcoin as well as any type of things that are to earn money helps anyone to improve their life, but we must realize that poverty when it is mental, even if you have a lot of money, the person will not be able to make a fortune because He cannot nor does he know how to maintain it, what he will know how to do is spend and spend money without investment and without multiplying his money, that is what must be avoided, a person with money what he will do is spend and the money runs out and he will not be able to regenerate if one does not work, so mental poverty must end whenever the person wants to do so and that is achieved with knowledge.

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Quote from: Dimitri94 on November 04, 2023, 11:42:25 PM

Especially people in countries with high poverty rates should not invest in Bitcoin

Still, in those countries, there are rich people who are investing in Bitcoin, as well as some poor people who are investing in Bitcoin too. Saying that poor people don't need to invest in Bitcoin doesn't make much sense. Normally, those who don't have the capital to invest in Bitcoin can find a job or business that they can earn from to invest in Bitcoin. Some people too might be poor, but yet they always have enough money to feed three square meals a day. Yeah, it's a fact. Bitcoin can help those who invest in it, and to invest in Bitcoin and hold it, the individual needs determination and discipline.

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Bitcoin can help but, we need to have have the idea in other work with the system, note, bitcoin is not a do or die setting, it not quick money stuff, you have to know that you won't get you returns once you invest, it is a gradual process and it has procedures.
Investor should desist from the idea of putting all their investment in Bitcoin because of it volatile nature, you are not sure of the market, it is not advisable and such risk shouldn't be encouraged.
Talking about the decline in the global poverty with the help of bitcoin investment, this will only work if the investors make good profit, then use the money to create a little business that can employment few persons, if not I don't see this happening as is been said, this is my view.

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Quote from: Mauser on November 05, 2023, 09:36:05 AM

Quote from: adultcrypto on November 01, 2023, 11:12:00 AM

Bitcoin offers unique opportunities for people who want to make decent amount of money and I have the feeling that if these people start investing in Bitcoin, we will see a rapid decline in global poverty. What do you think?

I am not sure if Bitcoin alone is going to solve the global poverty problem, it might be too much pressure on one single asset class. Don't get me wrong, Bitcoin is a great investment and everybody should add some to their portfolio. But what kind of return do you need to get millions of people out of poverty? I think it's too much to ask of bitcoin and could lead to disappoint if the expected returns are not delivered. The main problem for poorer people is that they don't have any money to start investing in the first place. One single purchase of bitcoin for 100 USD is not going to be enough to make people rich. This requires a constant form of saving and many people struggle to keep it up. In my opinion it would be best to try and educate people first on how to save money consistently. There are two ways to get more money, either by getting a raise and increase our monthly income, or by cutting back expenses. Trying to reduce unnecessary expenditures is a good way to have more money to invest each month. The second step is than to find a good asset to save money in. Bitcoin is definitely a good idea, but I would also consider spreading the money out into other assets to reduce the risk of our portfolio.

In short, it impossible to get rid of the global poverty, even a decline won't happen. For me, bitcoin is treated as an asset and it takes some money for you to acquire it. The families that can be treated as poor or inside the poverty line won't prioritizing spending on such asset like bitcoin, their first priority is the necessities that can help them survive their daily lives. Another factor why bitcoin isn't the solution for global poverty is the education that the poor receives. Imagine, majority of the poor don't have financial literature, what more about bitcoin or over all cryptocurrency?

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Quote from: adultcrypto on November 01, 2023, 11:12:00 AM

Bitcoin offers unique opportunities for people who want to make a decent amount of money and I have the feeling that if these people start investing in Bitcoin, we will see a rapid decline in global poverty. What do you think?

As much as I believe that investing in Bitcoin is a right step in the right direction, I still think we shouldn't hype it that much so someone doesn't misunderstand the whole thing and invest all his funds in it with the hope of getting huge return within a twinkle I am eye.

Bitcoin isn't a get-rich-quick scheme and if you can't start up a main hustle while you invest in a fraction of your reserved funds into Bitcoin and you want to focus all your life hoping that the price of bitcoin will go high and live all your life with that hope, you might get frustrated.

The best way to invest in bitcoin is to dedicate a particular amount and buy a reasonable amount of bitcoin with it, hodl it and continue with your normal hustle so that way you don't get easily moved by any fluctuation of any sort.

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Quote from: adultcrypto on November 01, 2023, 11:12:00 AM

Bitcoin offers unique opportunities for people who want to make decent amount of money and I have the feeling that if these people start investing in Bitcoin, we will see a rapid decline in global poverty. What do you think?

I am not sure if Bitcoin alone is going to solve the global poverty problem, it might be too much pressure on one single asset class. Don't get me wrong, Bitcoin is a great investment and everybody should add some to their portfolio. But what kind of return do you need to get millions of people out of poverty? I think it's too much to ask of bitcoin and could lead to disappoint if the expected returns are not delivered. The main problem for poorer people is that they don't have any money to start investing in the first place. One single purchase of bitcoin for 100 USD is not going to be enough to make people rich. This requires a constant form of saving and many people struggle to keep it up. In my opinion it would be best to try and educate people first on how to save money consistently. There are two ways to get more money, either by getting a raise and increase our monthly income, or by cutting back expenses. Trying to reduce unnecessary expenditures is a good way to have more money to invest each month. The second step is than to find a good asset to save money in. Bitcoin is definitely a good idea, but I would also consider spreading the money out into other assets to reduce the risk of our portfolio.

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Quote from: TimeTeller on November 04, 2023, 06:50:27 PM

Quote from: Dr.Bitcoin_Strange on November 04, 2023, 05:13:06 PM

Quote from: Sophokles on November 04, 2023, 12:13:25 PM

If bitcoin's role is only to be a store of value like gold then it will not be able to assist the poor anyway. It already has a limited supply and if most of its supply is stored in a non custodial wallet by few percent of the world population then how will other people take part in it? Bitcoin needs to keep circulating in the market with local businesses so that it becomes a medium of value transfer. It doesn't matter if it needs to be bitcoin it can be something else and what i think is that bitcoin shows us a pathway of how it can be done where peoples financial freedom will be in their hand not controlled by few banks or asset managers.

Yes, mate, there is a lot of money in this world. What I mean is that in our individual countries, we have different local currencies and a huge supply of them compared to the Bitcoin supply, but yet there are still poor people. The question is, why has the money not been able to help them? We work to earn money, and we earn money to invest in Bitcoin depending on our choice, so if one invests in Bitcoin, the reward is profit generation in due season, but if someone doesn't invest in Bitcoin, they cannot depend on it to get profit. So, what I think is that Bitcoin can help those who invest in it make a profit.

We can't expect all people to invest in bitcoin because up until now, the population who are into btc or crypto is still small as compared to world population.
Also, they have other investment options that they are looking at like stocks, real-estate, precious metals and other tangible assets.
So we can't speak for the most of these people when it comes to their preference of investments.
But for those who are already bitcoin holders, for sure, they will find it favorable later on once they are seeing the price is steadily increasing.

We have more than 700B people and even if 300B of them start using bitcoin network do you think all of them will be able to accumulate enough bitcoin for them when big institutions are accumulating bitcoin which is not going to get out of their wallet very soon? That means those coins will stay out of the circulating supply for a long time which increases scarcity more than ever.

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Bitcoin can certainly be a good investment through which an investor can greatly improve his financial situation. But is it possible for everyone to collect bitcoins? Whereas on average most people are now living below the poverty line. Especially people in countries with high poverty rates should not invest in Bitcoin. The first thing that needs to be emphasized here is to create employment for them. If they can earn money then they can deposit a certain amount of money in Bitcoin and gradually turn it into a large asset. I think Bitcoin is like a vehicle to realize your unexpected goals, but to get to that point you have to complete your initial stage that means collecting funds.

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Quote from: Peanutswar on November 04, 2023, 10:12:31 PM

Even though bitcoin is one of the sources that can be for investment or help in your life again not all the people are capable with it.

Bitcoin is just an investment, it is not free and there are potential risks where it can harm us. Not everyone makes money investing in it, there are winners and losers, so I cannot agree that bitcoin can help alleviate poverty.

Quote from: Peanutswar on November 04, 2023, 10:12:31 PM

Quote from: adultcrypto on November 01, 2023, 11:12:00 AM

...the lower class can actually buy as little as $10 per week. Majority of these immigrants are farmers that the quest for greener pastures pushed into these journeys. They can actually start small and build from there. Same goes for many people across the globe.

Bitcoin offers unique opportunities for people who want to make decent amount of money and I have the feeling that if these people start investing in Bitcoin, we will see a rapid decline in global poverty. What do you think?

Even though they want to get up with this poverty and would like to join into an investment i guess at the end of the day they will cater to their needs than making an investment, currently, the expenses right now is higher due to inflation too, only people who have got enough with their salary or money can make try this suggestion. But after that, only few of them will choose to have a food on their table.

I think daily needs should still be prioritized over investment. If we live alone, we can save as much as possible and work hard to save money to invest, but if we have a family and children, we should not invest when the children are still hungry. Investing is important but there are things that need to be given top priority and that is also one of the many reasons why poor people still cannot invest in bitcoin.

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Even though bitcoin is one of the sources that can be for investment or help in your life again not all the people are capable with it.

Quote from: adultcrypto on November 01, 2023, 11:12:00 AM

...the lower class can actually buy as little as $10 per week. Majority of these immigrants are farmers that the quest for greener pastures pushed into these journeys. They can actually start small and build from there. Same goes for many people across the globe.

Bitcoin offers unique opportunities for people who want to make decent amount of money and I have the feeling that if these people start investing in Bitcoin, we will see a rapid decline in global poverty. What do you think?

Even though they want to get up with this poverty and would like to join into an investment i guess at the end of the day they will cater to their needs than making an investment, currently, the expenses right now is higher due to inflation too, only people who have got enough with their salary or money can make try this suggestion. But after that, only few of them will choose to have a food on their table.

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Bitcoin has helped loads of processess and protocols most especially in the financial space in the area of cross border transactions.

Many challenges associated with cross border financing has been reduced to the barest and almost not considered a challenge except for institutions that are yet to adopt the technology for reasons of regulations and policies.

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Quote from: Dr.Bitcoin_Strange on November 04, 2023, 05:13:06 PM

Quote from: Sophokles on November 04, 2023, 12:13:25 PM

If bitcoin's role is only to be a store of value like gold then it will not be able to assist the poor anyway. It already has a limited supply and if most of its supply is stored in a non custodial wallet by few percent of the world population then how will other people take part in it? Bitcoin needs to keep circulating in the market with local businesses so that it becomes a medium of value transfer. It doesn't matter if it needs to be bitcoin it can be something else and what i think is that bitcoin shows us a pathway of how it can be done where peoples financial freedom will be in their hand not controlled by few banks or asset managers.

Yes, mate, there is a lot of money in this world. What I mean is that in our individual countries, we have different local currencies and a huge supply of them compared to the Bitcoin supply, but yet there are still poor people. The question is, why has the money not been able to help them? We work to earn money, and we earn money to invest in Bitcoin depending on our choice, so if one invests in Bitcoin, the reward is profit generation in due season, but if someone doesn't invest in Bitcoin, they cannot depend on it to get profit. So, what I think is that Bitcoin can help those who invest in it make a profit.

We can't expect all people to invest in bitcoin because up until now, the population who are into btc or crypto is still small as compared to world population.
Also, they have other investment options that they are looking at like stocks, real-estate, precious metals and other tangible assets.
So we can't speak for the most of these people when it comes to their preference of investments.
But for those who are already bitcoin holders, for sure, they will find it favorable later on once they are seeing the price is steadily increasing.

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Quote from: Sophokles on November 04, 2023, 12:13:25 PM

If bitcoin's role is only to be a store of value like gold then it will not be able to assist the poor anyway. It already has a limited supply and if most of its supply is stored in a non custodial wallet by few percent of the world population then how will other people take part in it? Bitcoin needs to keep circulating in the market with local businesses so that it becomes a medium of value transfer. It doesn't matter if it needs to be bitcoin it can be something else and what i think is that bitcoin shows us a pathway of how it can be done where peoples financial freedom will be in their hand not controlled by few banks or asset managers.

Yes, mate, there is a lot of money in this world. What I mean is that in our individual countries, we have different local currencies and a huge supply of them compared to the Bitcoin supply, but yet there are still poor people. The question is, why has the money not been able to help them? We work to earn money, and we earn money to invest in Bitcoin depending on our choice, so if one invests in Bitcoin, the reward is profit generation in due season, but if someone doesn't invest in Bitcoin, they cannot depend on it to get profit. So, what I think is that Bitcoin can help those who invest in it make a profit.

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Quote from: adultcrypto on November 01, 2023, 11:12:00 AM

The rate of poverty across the globe is becoming worrisome. Many people are continually crossing below the poverty line to the state of depression. I was heartbroken seeing the number of people struggling to enter the US as shared by Elon Musk in X. Weather we choose to believe it or not, there is an impending global problem that if concerted effort is not put at addressing, there will be chaos. Is there anyway Bitcoin can assist in addressing this?

I know many will think investment in Bitcoin is reserved exclusively for the rich or those who are comfortable; the lower class can actually buy as little as $10 per week. Majority of these immigrants are farmers that the quest for greener pastures pushed into these journeys. They can actually start small and build from there. Same goes for many people across the globe.

Bitcoin offers unique opportunities for people who want to make decent amount of money and I have the feeling that if these people start investing in Bitcoin, we will see a rapid decline in global poverty. What do you think?

If bitcoin's role is only to be a store of value like gold then it will not be able to assist the poor anyway. It already has a limited supply and if most of its supply is stored in a non custodial wallet by few percent of the world population then how will other people take part in it? Bitcoin needs to keep circulating in the market with local businesses so that it becomes a medium of value transfer. It doesn't matter if it needs to be bitcoin it can be something else and what i think is that bitcoin shows us a pathway of how it can be done where peoples financial freedom will be in their hand not controlled by few banks or asset managers.

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Bitcoin's technology generally has no limitations that can help tackle world poverty. Governments can help by taking necessary steps, following appropriate administrative policies and creating opportunities for people. Bitcoin is a decentralized cryptocurrency, which fundamentally operates outside of government control. Using this technology can provide the necessary education to improve the country's economy. If governments are creative with faith, this technology can be used to reduce inflation, create new enterprises and provide education opportunities to citizens. It can help create a healthy and socially developed environment that can influence the country's economy.

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Quote from: uneng on November 01, 2023, 11:19:43 AM

Bitcoin offers the possibility of being paid for online jobs without bureaucracy and expensive costs of transactions through its decentralized blockchain and nature. However, without jobs, there isn't Bitcoin, as it's just a currency, a mean of payment people receive for their effort, deeds and skills. We can't expect to solve the poverty problem in the world by sharing free money with everyone. People still have to develop a career, to become proficient in something they can assist the society and then be paid for that.

Good thing that it's only a possibility because if you've worked in payroll department before then you know that it's going to be a headache to deal when one of the employees don't want to follow the same payment scheme compared to the other employees. Regards to bureaucracy, even if you get paid in bitcoin, depending on your country, you might still have to make sure that you're earnings paid in bitcoin will be included in your taxes.

Quote from: panganib999 on November 04, 2023, 09:52:04 AM

I think that most if not all users in the forum have the same benefits from bitcoin with bitcoin being a crutch for their daily expenses if not outright supporting them financially. I'm worried about your statement about youths being dependent on bitcoin too much in building their careers because I feel like if that's the case then when they there's a problem that involves bitcoin, what are they going to do then?

There are others although I feel rare might be changed not because bitcoin helped them financially speaking but they're enamored by the concept of bitcoin and being free from the oppressive and archaic banking system and that they don't care much about the value of bitcoin in terms of money but more like the concept of it, I mean Vitalik could probably be a good example of a person that bitcoin has helped in terms of building new concepts.

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Quote from: adultcrypto on November 01, 2023, 11:12:00 AM

I know many will think investment in Bitcoin is reserved exclusively for the rich or those who are comfortable; the lower class can actually buy as little as $10 per week. Majority of these immigrants are farmers that the quest for greener pastures pushed into these journeys. They can actually start small and build from there. Same goes for many people across the globe.

Bitcoin offers unique opportunities for people who want to make decent amount of money and I have the feeling that if these people start investing in Bitcoin, we will see a rapid decline in global poverty. What do you think?

Well, not trying to sound pessimistic but turn around and think deeply about this which you have said...

This are people who are poor, and being poor means that they probably don't know when or where their next meal will be coming from, and yet you expect them to invest in bitcoin, where will the money to invest in bitcoin come from? OK, even if you gave them $10 to buy bitcoin, they probably will use half of that money to buy food first, then later invest the remaining half in bitcoin, which they may also turn around to sell tomorrow so as to buy food again.

Understand that, bitcoin is not a get rich quick scheme, I don't see anyways simply buying and holding bitcoin will help the poor, except the poor that have something doing, like a business or a job, something that can help them invest in bitcoin, and then look away from that investment until it yield good profit for them.

Anything outside of this, I don't see or know how bitcoin can help.

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Quote from: HelliumZ on November 03, 2023, 09:18:30 AM

No one but me can tell you how much Bitcoin has supported me. Bitcoin has supported me in education as well as most of my personal expenses. Moreover, Bitcoin is a virtual currency where anyone who takes it as a part of his career will definitely get support in one way or another. Many unemployed youths have built their valuable careers depending on Bitcoin. Many countries have launched educational programs on Bitcoin and are making a certain portion of their human resources proficient in Bitcoin.

Well, it's a common sense that how your story would be told would only be told by you since you're the one who has experienced it right? Outside testimonies would be biased even in the worst way it's going to be told. I can agree with what happened to you, I think that most if not all users in the forum have the same benefits from bitcoin with bitcoin being a crutch for their daily expenses if not outright supporting them financially. I'm worried about your statement about youths being dependent on bitcoin too much in building their careers because I feel like if that's the case then when they there's a problem that involves bitcoin, what are they going to do then?

Can you name any countries that officially launched educational programs that involves being informed in bitcoin and it's technology because I don't think that it's true. If it was true then there's more people that's talking about bitcoin than what's going on right now.

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