Topic: Can Bitcoin help? - page 3. (Read 681 times)

It's not true and almost many people know that bitcoin is not only intended for rich people. Everyone can take the smallest amount to start investing because if done consistently, over time it will provide great value. The only people who don't want to get involved in bitcoin because of the risk of price volatility so they decide to think long and hard about getting involved. If they understand how, maybe this won't be a big problem because there is always a cycle that makes prices rise and fall according to the period in which they travel.

Bitcoin will never reduce poverty rates globally because involvement in it is more individual and there are many people who are still not interested in investing in bitcoin at this time. I only understand one thing about the advantages offered by bitcoin, namely financial freedom at a stage that we can manage independently and adjust the capital we have.

It is true that anyone can buy Bitcoin for any amount that anyone who is interested in it can afford. This means that Bitcoin does not care whether you are rich or poor; as long as you can afford it, you can really have it.

Now, whatever the problem of the country or the people, I also believe that there are many solutions that we can use, and Bitcoin is only one of the solutions, which only means that there is also another alternative that is another solution to our problem.

Of course, to invest in bitcoin you must have capital and already have emergency money. If it's not enough for daily needs, it's not a good thing to invest in bitcoin, as existing ones will get poorer.

What this means is that perhaps he is poor in the sense of the word, he can fulfill all his needs and having more money to invest could make his finances better in the future. Because buying bitcoin has many benefits, one of which is that no one can control bitcoin because bitcoin is on the street on blockchain, besides that there are no intermediaries so it can reduce transaction costs. Bitcoin can enable poor people to increase their savings by buying bitcoin.

In essence, Bitcoin is also the currency of the future for everyone. So everyone can invest in bitcoin. It also allows poor people to control their own investments. Because Bitcoin operates outside the government system. That way it can also protect poor people in countries where bad monetary policy causes inflation and other problems. So investing in Bitcoin can help poor people significantly.

1. Do you think that people who are considered poor right now are interested in investing into Bitcoin?
2. Do you think that an asset, or a currency, or whatever you want to call it will change their lives if they will just invest to it?

People are poor because they are lacking of financial literacy. Let's include knowledge, and skills to the mix, but on top of that, now knowing how to handle their money is the reason why the poor remains poor, and vice versa. Now how can you make a poor person who don't even know anything about investing invest into Bitcoin? There might be some poor people out there who will choose to just use that money to buy things to survive on that day than to invest into an asset that they don't even interested in.

Okay let's assume that they invested into Bitcoin (which is highly unlikely), would you think that investing on that alone will change their lives? No. It isn't that easy, and if it's that easy then all of the investors must be rich by now. Investing alone isn't enough. You need to learn how to make good decisions, and do constant research as well.

Yes, Bitcoin offers unique opportunities, but only for those who have the capabilities to use it. It's only for those who has the gadgets in order for them to have access into it, and unfortunately, not all of the poor people don't even have an access to smartphone. They're having a hard time making ends meet. How can they have spare money to use to invest? Bitcoin "MIGHT" solve global poverty, but the question is HOW?

Bitcoin can help some people who want the help and who are able to against all odds still invest enough in bitcoins to get enough profit from it that can change their level in life, but Bitcoin is not a general remedy for poverty because there are many reasons why people are poor. Some people are poor from the choices that they have made aside the harsh economic condition, if this people still invest and continue to make poor economic choices, their investment in bitcoins no matter how big will not be able to help them from poverty.

This discussion will be very easy to understand if you knew exactly what is poverty and how much budget the government will need just to sustain those people under the poverty to improve their life permanently. You already said that there’s always a balance on buying and selling on trading while your idea needs Bitcoin to continuously go upward just to give profit to everyone. Main question is who will continuously inject liquidity to Bitcoin just to pump the price and distribute to the poor who invest small amount?

That’s what I’m talking limited liquidity since Bitcoin sometimes dump more than half of its marketcap.

You are talking about temporarily crossing the poverty line but you forgot to assume the sustainability assuming the pump that you project occur. Yeah poor people can get an extra boost but the main question is if this is sufficient to sustain until the rest of their life? Surely they will just spend it all later and back to their old life.

This is why having a decent job is much better rather than relying on Bitcoin and its insane pump which no one knows when will hit or if it willl really hit.

Yes, it's true, bitcoin trading is an activity full of risks, especially if the capital is small then the results will also be small. One way to trade to make more profits is to trade futures, but this increases the risk tens of times. Carrying out trading activities with the aim of making daily or weekly profits is very difficult and requires a lot of experience

Providing a solution like this to people who don't know about bitcoin increases the risk. I think using trade to help poverty is impossible

But this is not easy and not many people can do it. Even professional traders or experts are not sure that they can guarantee daily profits and consider it as the main source of income . So how can you ask poor, uneducated and ignorant people to participate in trading? Actually, everyone likes to trade, likes to make money every day by trading. But people just buy and hold for the long term because they know that trading is not easy and most end up losing money.
     

I'm not sure Bitcoin could solve the world problem but is true that Bitcoin can help some people earn diligently. I have seen some doing good at trading and most exchanges trying their best to assist with different features like bot copy trading. But then, one needs something to do in other to assist themselves financially in the crypto World

If we cannot meet our daily needs then it will not be possible for us to think about how to invest. Of course they must first think about their needs. After they can fulfill their needs, of course they will be able to think about what they invest in and of course they must choose the investment that is right for what they want. Without knowledge, of course they will not be able to get a profit from the investment they make, so it is very important for those who want to make an investment to understand how to get it and how to make a profit from the investment they make.

It depends but at the end of the day, bitcoins are just an asset that you could just simply buy low and sell high. You need to have enough knowledge in order to make money from it because you need to learn daily trading if you want to make it your daily job. in other words, it is just simply like any other source of income where you need the basic necessity to make it a money-making platform. But most people are just buying bitcoins and holding them for the long term or until they see the price worth selling their bitcoins. Nothing special here you just need to have enough patience to wait and not to listen to any FUDS whenever there's one.

I don't really understand what you mean by limited liquidity. If Bitcoin hits mainstream, that will just mean more people will engage in the business of buying and selling with Bitcoin and this will be done hitch-free. That is liquidity. Are you saying that there will be sellers without buyers? How will there be balance of trader? As the use increases, the liquidity will.

Even though I understand your point, I still believe that anyone who invested in Bitcoin years ago like 2014, even if its $100, that would have yield substantial profits that can make such person cross above the poverty line.

Now we are at a point where Bitcoin is still cheap in such a way that $100 can give nice amount when Bitcoin reaches like $750k that many people are projecting it would.

The instigation of investing in Bitcoin with whatever amount is not for the struggles who has no other source to obtain their essential commodity needs.
Even though the coin volatility is on the side of a struggling investor, without a bull run, the investor would never be impressed due to the dulling increase in value of the coin which definitely the struggling investor would not have the ability to exercise such patient because survival as staying alive is a first considerations to lives.

Bitcoin is a potential with foremost expectations to profer profits but due to its volatility, it could profer looses at times that is why patient is a keyword to its being to succeed which is impossible for the struggles to adhere to.

Bitcoin is apparently not for the struggles unless there is other means of income or means to essential nneds. Then the is liable to limit the values and rates of poverty or enhances to profer enrichments to its investors.

You are right @ mk4. I have been a practical example of such where I finds it hard to earn living with the gazes at responsibilities on me that are yet to me attended to.
Yet I struggles to survive.
I have heard so much about the potentials to enrichment of Bitcoin then I could Invest the least I had with me hoping to explore over night but reverse was the case where the volatility of the coin was against me and that was the only source I leaned on to minimize my struggle but how could I exercise patient on Bitcoin all at the aiming to have a bull run in the Bitcoin markets while I am starving of hunger? Of course it ended me a regret for putting my cash in am investment that requires me the ability to exercise patient besides... The market values was against my wills then I had to hastenly sell it out before I am total run down all because I am starving and needed something to eat.

Poverty is not something that Bitcoin can actually solve by itself, this issue should be eliminated by the government as they are the one who have power to put laws and make use of the tax of the country. Bitcoin is just a digital currency where it exist as an alternate to our fiat currency, but due to it's volatility people use it to their advantage to make profit from it, plus it's a decentralized system that government can't control but of course they are free to use it as well. I think this will literally depends on the privileges, cause imagine poor people wanting to escape that life by just barely surviving everyday, where they would find funds to invest in Bitcoin right? They don't have the time to learn, study and find funds for investing, that's why government exist to help them. Unlike to some people who have extra time in their hands as they have financial to support their needs so they can explore into investment. It could help some people as we seen in the forum before, where people use Bitcoin profits to help the poor.

You are totally missing the point about what BTC is, it is not a network created for you to make a decent amount of money or to eradicate poverty in the world, it is because of ideas such as yours that so many people think BTC is a pyramid scheme and therefore a scam, which it is not. BTC is a decentralized and censorship resistant currency that should be used for payments, though it has other use cases and because of its volatility, you can buy it now and sell it later for a higher price, but that is not what it was created for.

Eradicating poverty is to be done by the government, and people can also do better for themselves by acquiring better education and skills, doing more jobs to increase their income, etc; take note that you also need to have a source of income in order to buy BTC, and people who are very poor would not think of buying even a single sat.

Bitcoin offers a better opportunity to those who want elevate to financially,  some people may think to invest in bitcoin is to become rich very  quick but bitcoin doesn't work that way. People can only get a better opportunity in bitcoin if only they understand that they need a source of income and invest it in bitcoin according to what they can afford it will help to fight against poverty but thinking just starting to invest in bitcoin will bring excessive money that will make one to be rich is a wrong thinking. Bitcoin was created as a support, to solve effect of depreciation of traditional currency when store in the bank.

I have to tell you that bitcoin will not be able to help those in the poverty line, unless they have a means to earn bitcoin and they have a phone which I don't think they have since they're trying to survive daily. Those in the poverty line would probably choose a short-term money over what bitcoin offers which is obviously long-term. Bitcoin itself can't do anything but the people that were lucky enough to benefit from the growth of bitcoin has the opportunity to help these people even if it's a temporary help like food packages or paying their rent, you know like what Mr. Beast does in his videos albeit you don't have to film yours since we've got enough poverty porn content creators already. I think that it's one of the ways that you can help impoverished people in your area.

Bitcoin is a currency and not a poverty elimination solution, is not everytime we see problem's that has to do with poverty and we immediately think Bitcoin is the solution. Such mentality is why we have many moon boys in the market and they're causing more volatility to the market. Job provisions so those people can take care of themselves in their respective counties is the solution to those migration problem. People also have to be enlightened that they can make money online from any part of the world, they just need the right information as information is power. Them thinking that leaving their country in search of greener pastures in the western world would save them but when they're not equipped with valuables skills they'll still find it difficult in those countries they're running to.


How do they start investing in Bitcoin when they don't have a job to look after their self and families. What those people need are job creation in their countries but their corrupt government won't provide them with jobs or make the policy of the country company friendly so private companies can pick interest in having branches in their country and provide jobs for their citizens. Nobody should think getting involved in Bitcoin immediately solve their poverty problem, they need jobs that can sustain them during the bearish season of the market so they can keep on holding their Bitcoin to make profits in the future and not looking for short period gain that makes them miss out of future gains.

Why do some people have such hope in Bitcoin? Asking such questions in our time and claiming that Bitcoin is a panacea for poverty is no longer modern. We need facts and evidence, not isolated cases, so that we can assume that Bitcoin saves us from poverty and, in general, from all universal ills. Essentially, what happens is that where poverty is prevalent, there is also a lack of education. How can people invest anything if they have neither a job nor a normal means of livelihood? If their only goal is to eat normally and feed their family, It is simply impossible to make such people wait for a “miracle day,” after which they will become rich.