Can Bitcoin help? - page 4. | Bitcointalksearch.org

jasonjm

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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?

As a matter of fact, Bitcoin can not decrease global poverty because poverty depends on many factors. Bitcoin alone is not enough to elevate the socio-economic level of the people. Yes, it can help people with their earnings to an extent, but for that, the person should have some amount of savings to start investing. For example, if we talk about less fortunate countries where the daily wages are below 10$, how can one expect an investment into BTC from them?
I am of the opinion that only a privileged few from those countries will be able to invest in Bitcoin.

DCA is a very good option, as you suggested. This way, it will not burden the individual, and he will have some investment for the future. But, for that, the person should be earning more than his needs.

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Quote from: davis196 on November 02, 2023, 01:59:59 AM

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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?

Bitcoin is a volatile asset and I don't recommend people, who lack financial education to invest in risky and volatile assets.
No, Bitcoin cannot help for ending global poverty. Bitcoin is not some magical financial tool that will bring guaranteed profits and make everyone rich and happy. Trading on the financial markets is a zero sum game. The profits of one trader are the loses of another trader.
Global poverty can be reduced by mass education and mass industrialization of the underdeveloped countries. This would be a double edged sword for the developed countries, because they will have to compete with industrialized underdeveloped countries, where the cost of labor is lower.

The market is a battlefield and bitcoin is also a financial market so it is ignorant to think that investing in bitcoin or bitcoin can help reduce poverty or reduce unemployment. Bitcoin is an asset just like gold or other assets, if it can help reduce poverty by investing in it then other assets and investments can do the same. People should stop being delusional about the power of bitcoin and stop over-exaggerating it as a pair of magic wands that can solve everything in the world.

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Quote

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?

Bitcoin is a volatile asset and I don't recommend people, who lack financial education to invest in risky and volatile assets.
No, Bitcoin cannot help for ending global poverty. Bitcoin is not some magical financial tool that will bring guaranteed profits and make everyone rich and happy. Trading on the financial markets is a zero sum game. The profits of one trader are the loses of another trader.
Global poverty can be reduced by mass education and mass industrialization of the underdeveloped countries. This would be a double edged sword for the developed countries, because they will have to compete with industrialized underdeveloped countries, where the cost of labor is lower.

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I think about it too and ideally speaking, yes. Bitcoin can help poverty. The concept of using bitcoin to address financial challenges and solve poverty holds promise but it's important to approach it with a realistic perspective. While the idea of using cryptocurrencies for poverty is appealing, it's crucial to address these challenges and implement supportive policies and educational initiatives to maximize their potential benefits. We have to use cryptocurrencies into a broader strategy that includes education, healthcare and economic development efforts that can create a more comprehensive approach to poverty reduction. I mean when you think about it, just the initial investment to bitcoin is out of reach for the poor.

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Quote from: yhiaali3 on November 01, 2023, 10:14:06 PM

Yes, Bitcoin can contribute to making people's lives better through investing in Bitcoin or through the business that Bitcoin provides on the Internet, ease of payment, etc., but we should not go so far as to say that Bitcoin can eliminate poverty in the world.

This is a huge exaggeration. Do not forget that the poor people you are talking about live in a poor country and primitive areas that do not have the slightest infrastructure suitable for working or investing in Bitcoin. These poor areas do not have the Internet or perhaps even electricity, and people suffer from poverty and ignorance and do not know anything about Bitcoin, so how can Could Bitcoin be a reason for eliminating poverty there?

To be able to invest in bitcoin, they need money and many people don't even have enough money to eat 3 meals a day, where do they get the money to invest in bitcoin? Not to mention, bitcoin does not guarantee profits for anyone, bitcoin not only brings profits but it also has risks involved. For the poor, if there is no knowledge and they invest money they cannot lose, what will happen to them if bitcoin is dumped? Bitcoin is just an investment tool and whether we have the ability to make money on it or not is entirely up to us, bitcoin does not guarantee anything. You're right, many people are over-exaggerating it.

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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?

Bitcoin is not a miracle that can help everything, including poverty. Bitcoin is digital money or digital assets, nothing more than that. Maybe investing in bitcoin will provide profits but you definitely know that the price of bitcoin is very volatile, so there is no certainty that we will make a profit when investing in bitcoin, in the long term the profit is likely to be higher but in the short term it is very risky

So poverty and bitcoin are two different fields. It would be more logical if we gave him a donation to help provide them with food, introducing bitcoin is not a solution for people who have no money or jobs.

michellee

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Bitcoin can help from the investment side. If a lower class person can only invest in Bitcoin at $10 per week, they can have their investment and should be able to be patient for a few years. Investing in Bitcoin cannot provide profits in the short term but can provide benefits in the long term. The problem is, can they be patient and wait until the value of their investment increases?

It all starts with small things. Bitcoin might be one solution to overcome poverty by investing. But before investing in Bitcoin, they must understand it by studying it.

But the reality is that there are still many people who don't even know Bitcoin. They still have difficulty meeting their daily needs and may not be able to allocate a certain amount of money to invest in Bitcoin. This is what they must understand so that they can open their minds to start investing in Bitcoin.

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It is only the government that can uplift people from poverty and not bitcoin, this is because anyone that want to really benefit from bitcoin must take a long time before he can see his profit, since bitcoin is a long term investment for you to make profit from it. You don't think that the poor ones that hardly eat well in a day will be able to invest into bitcoin and wait patiently to reap their profit when they don't have what to eat.

The people that are making profit from bitcoin are traders and people that earn in bitcoin and I don't that a poor man can go into trading that is very risky and can make one loss all his bitcoin if he makes a wrong decision. It is unethical to advise newbies or people who are managing to invest in bitcoin to jump into trading without any skill because they will end up at loss.

Mining is very expensive due to the cost of electricity and it needs good capital to start with, and if you are not careful, you might run at loss. Hodli needs patience and you must have cash reserve or cash inflow in other to be successful as a hodler, if not you might end up selling when it is not at your will.

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Quote from: Sebas.tian on November 01, 2023, 10:06:21 PM

Yes, Bitcoin can help a nation to eliminate poor economy, if their government can take a good step in this massive inflation that is affecting global economy to create a good environment where citizens can easily learn many things that related to cryptocurrency. There is no way government can grant their citizens access to Bitcoin and cryptocurrency, and their citizens will not be good in long term and short term investment, because that is the major place many cryptocurrency users always use to achieve income from their investment. I came to discovered that Bitcoin has reduced a lot of things in some countries economy that made it legalized in their countries, and it has helped them to introduced foreigners into their countries to boost their economy.

El Salvador has been accepting bitcoin as legal tender for the past two years, although it is still early to say that the country has failed to accept bitcoin. But do you see economic improvement or people's lives getting better when bitcoin is accepted there? Bitcoin is just an investment, it cannot help a country's economy reduce inflation or help that country's economy grow if it only relies on bitcoin. Bitcoin is not a panacea for the world, we should not exaggerate everything about bitcoin.

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Yes, Bitcoin can contribute to making people's lives better through investing in Bitcoin or through the business that Bitcoin provides on the Internet, ease of payment, etc., but we should not go so far as to say that Bitcoin can eliminate poverty in the world.

This is a huge exaggeration. Do not forget that the poor people you are talking about live in a poor country and primitive areas that do not have the slightest infrastructure suitable for working or investing in Bitcoin. These poor areas do not have the Internet or perhaps even electricity, and people suffer from poverty and ignorance and do not know anything about Bitcoin, so how can Could Bitcoin be a reason for eliminating poverty there?

Sebas.tian

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Yes, Bitcoin can help a nation to eliminate poor economy, if their government can take a good step in this massive inflation that is affecting global economy to create a good environment where citizens can easily learn many things that related to cryptocurrency. There is no way government can grant their citizens access to Bitcoin and cryptocurrency, and their citizens will not be good in long term and short term investment, because that is the major place many cryptocurrency users always use to achieve income from their investment. I came to discovered that Bitcoin has reduced a lot of things in some countries economy that made it legalized in their countries, and it has helped them to introduced foreigners into their countries to boost their economy.

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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?

Do you mean bitcoin can help reduce poverty rates or will it eradicate poverty? Do you think making money from bitcoin is easy? Although the price of bitcoin keeps increasing every year, so far not everyone has changed their lives, not everyone has profited from it, and the number of losers is more than the number of winners. So do you think it will help alleviate poverty?

Bitcoin is an investment and there will be risks, winning or losing depends on each person. Bitcoin does not print money to give it to everyone for free, it does not create jobs to help people have jobs to generate income.

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In most of the countries around the world, the poverty rate of people is not decreasing day by day but increasing. Especially in my country the highest rate of poverty has increased where no one is getting government jobs. And I am a child of a poor family where my studies are nearing the end but I could not find any job instead I came to Bitcoin to run my daily expenses. People have become rich from Bitcoin every many people have become rich by investing in Bitcoin and many people have become millionaires. Seeing all these things, most of the people in the world are currently flocking and investing in Bitcoin. It says bitcoin investment is only for the rich, because we know that bitcoin is not defined as rich or poor, why people can invest. But going to a government job there is a lot of difference between rich and poor, but investing in Bitcoin here is no daily poor middle class poor no difference everyone can do it. You can invest any amount of money you want in Bitcoin and you can keep it for a long time and you can get profit from it. So if you want to change your future by investing in bitcoins, you must start small and gradually work your way up to big levels.

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I think the reasons why illegal immigrants enter the US are very complex and varied. If this is considered a big problem, then I don't think the root of the problem of illegal immigrants entering the US can be solved with Bitcoin alone. I see that economic factors are not the only reason they move countries illegally, it could be that they want to escape violence or political instability in their home country. Or maybe they just want to gather with their families who have previously settled in the US. No one knows for sure.

If we know Bitcoin as an investment instrument and some also consider it a forced currency to solve this problem, of course it is not effective. Bitcoin never offers big profits to be able to support someone, but there are some people who can make money with BTC ... thanks to Bitcoin with the help of their intelligence. I think the roots of the problem of illegal immigrants are too diverse to be able to generalize the solution using Bitcoin.

Don't think Bitcoin can do magical things like that. Even if you think Bitcoin can cure diseases of the human body, I think you have gone too far to think Bitcoin is everything.

btc78

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you need to go back to the basics mate, why is there poverty in the first place?

malnutrition, lack of education and job opportunities, low salary and even lack of infrastructure are all factors
attributing to poverty in which all can be traced back to the government
if the government itself is corrupt or not capable of tending to all of their citizens’ needs do you think bitcoin can solve all of their problems?

sure bitcoin can help, sure, but there’s a lot of basic necessities that needs to be met before they can even think about investment

the best you can do right now is to share knowledge to those who are capable introduce them to the world of cryptocurrency but make sure they fully understand how it works so that they don’t end up with losses

Quote from: Onyeeze on November 01, 2023, 04:21:18 PM

Bitcoin can help your life when you utilise Bitcoin but is not investment you will go into and you start making a huge profit so bitcoin is good investment and the aspect bitcoin help you is when you invest and leave it to grow,

It is for long term thats it,simple and not need to elaborate

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like long term investment not a short term investment the way I do see bitcoin, their is something we need to know every investment will help only when you understand the investment, and if you can have a patients when you invest in bitcoin you will make profit and at the moment the profits you make can also help your life.

It isn’t advisable to use bitcoin in short term or day trading as it is slow moving but secure.

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Yeah, there are lots of poor people all over the world. Even in my country, I kind of believe the number of poor people here is greater than that of the rich and very rich. But Bitcoin is not just what can bring an end to their poverty.

It's said that money is a problem solver, and how do you make this money? It's by working, offering a service, and getting paid for it. Bitcoin is not centralized and doesn't have an office, so people don't work for Bitcoin organizations to get paid (I believe you get my point? ). Just like bank workers, Bitcoin doesn't have any organization.

So, to get money, you have to offer a service that is needed in society, and you get money in exchange for your service. To multiply that money, you have to save and add more value to your service or business. To multiplay the money, you can also invest. There's a saying that money makes more money. That's to say that if you have $20k and you invest it, it will make more money for you, let's say $25k ($5k profit), depending on where you invested the money.

Before one can invest in Bitcoin, they should already be earning money from somewhere, while Bitcoin can just be like their other sources to invest and multiplay the money they have earned.

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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?

Please do not expect Bitcoin to solve everything. Please do not encourage them to invest in Bitcoin while they are struggling to live their life. Most of the time, these people will be short of money and unable to hold their Bitcoin. If I do not have enough money to live my life, I will be forced to sell my savings to buy necessary things.

As you already know, you won't be in profit all the time. If you want to make some profit from Bitcoin, you have to invest and wait. People who can save $10 a week surely do not make that much money.

Moreover, most people suggest only investing if you can afford to lose money. Do not expect too much from Bitcoin. Most people are likely to lose their money because of their high expectations.

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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?

Everybody can buy bitcoin but many of those poor people unfortunately often times need all the money they make to sustain the family and buy food. Another problem is the lack of financial culture which is huge in developed countries, let alone third world countries. And let's not forget that bitcoin is not an easy ride, maybe someone buys at the top and in front of him there are 2-3 years of bear market, not too many people can handle that, many simply sell at loss.

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Quote from: Onyeeze on November 01, 2023, 04:21:18 PM

Bitcoin can help your life when you utilise Bitcoin but is not investment you will go into and you start making a huge profit so bitcoin is good investment and the aspect bitcoin help you is when you invest and leave it to grow, like long term investment not a short term investment the way I do see bitcoin, their is something we need to know every investment will help only when you understand the investment, and if you can have a patients when you invest in bitcoin you will make profit and at the moment the profits you make can also help your life.

You are right; bitcoin is a long-term investment; you have to go long if you want a big return. Yes, bitcoin can be short-term in the form of trading, but it will only be day trading or scalping, which is too risky and doesn't utilise the potential profit of bitcoin. You have to trade long-term to maximise the potential profit. Or holding bitcoin. That's why you are right about the fact that an investor in bitcoin requires a lot of patience to survive in bitcoin.

Bitcoin may be a good help or investment for many, but not for all. Why? Because, as I said, it is a long-term investment, not everyone has the capability to invest and wait for that long-term return, as many will need money for their daily lives. Bitcoin may be a big help, but bitcoin investment is, I think, not for everyone. If they want to try and enter bitcoin, then do so, but you don't have a guarantee that you will earn.

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This poverty issue has been on existence or on ground since and when bitcoin came it help many to rank up from the poverty level to middle class level. Bitcoin is already helping people to come out from poverty and those who are still suffering and has not come out from the poverty line should embrace bitcoin to come out and those who have not heard about bitcoin need the knowledge of bitcoin to come out from the poverty line.

The depression is already killing people in global arena. And if only those people realize that they have used and deceived by the authorities and come to bitcoin then their lives will also change. Bitcoin welcome everyone.

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