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Topic: Can Bitcoin help? - page 5. (Read 681 times)

hero member
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November 01, 2023, 05:04:44 PM
#32
This is just real-talk, I will say. In my few years in the cryptocurrency business, I have seen and observed that if you want to get rich or improve your life through Bitcoin, you must have the ability to buy more than one Bitcoin, because just imagine if you buy a Bitcoin at the price it has today and it becomes $100,000 each. You can buy your dreams in life that you want to have.

What about those who can't afford to buy one bitcoin? For example, I can't buy 1 bitcoin at this time. Even if I think that I can buy bitcoin every month for 0.005 btc, after 1 year, the total is 0.05 btc, and bitcoins have reached 100 000 dollars each. How much is that? although that's a lot of money. But it can't buy the dream of a house and lot that I want. Do you get it?

Here now comes the Altcoins alternative coin that has the potential to give me big earnings in the future and is on the top list of the market.
This can also go along with the rise of bitcoin.
hero member
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November 01, 2023, 04:49:40 PM
#31

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?
Don't get your hopes up too high because in the end bitcoin is just a tool for investment and not a global poverty solver that can't even be solved in a few generations.
The problem of poverty is a real problem and being in bitcoin is a good thing but don't make the idea that bitcoin can change poverty because it is clearly not possible in my opinion but indeed the positive thing is that you can change yourself if you are really serious about the investment made because it will definitely get a good thing in the end. But to associate the problem of global poverty with bitcoin is actually too far in my opinion.
legendary
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November 01, 2023, 04:46:04 PM
#30
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?

Addressing global poverty doesn't hinge on investing in Bitcoin; it's crucial for governments to take the lead in improving their economies and generating more job opportunities. A sustainable solution involves creating conditions where people can live comfortably. Investing in Bitcoin could be a consideration for the future once individuals are financially capable, as while Bitcoin is a good asset, it remains a risky investment. What people need is a consistent income source, which Bitcoin doesn't provide. It's primarily suitable for long-term investments if one aims for a life-altering outcome.
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November 01, 2023, 04:42:58 PM
#29
It can help if those people actually have Bitcoin but that's not the whole point. Because with this problem, it should be dealt by an actual agency or organizations that will help them. Another thing is that, it won't be a solution that we can see that will actually solve it on an instant because that seems to be what's being brought by OP here. The result if they're going to invest in Bitcoin is possible to become positive because we're all for that. But if they're in the situation of poverty, they can't even provide meals complete at least 3 times a day for their family, they won't invest into Bitcoin and what's an investment to them is just surviving all day long, thinking of what will be the meal tomorrow and by next week.
sr. member
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November 01, 2023, 04:40:15 PM
#28
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 into Bitcoin but I do not think Bitcoin or Bitcoin investment is the solution to poverty.  Remember at the current trend of Bitcoin, the day where profit multiplies by hundred times is gone.  The last cycle's lowest and highest price (2018-2021) are $3,240.13(December 15, 2018) and $68,789.63 (November 10, 2021) has only 21x profit if we happen to invest at the lowest and sell at the highest which somehow almost impossible to execute.

I do not think that we can still gain a 21x profit in this current cycle since the current cycle lowest price is $15,760 (December 18, 202) unless something extra ordinary happen to push Bullish market to surge crazy.

Aside from that, remember during those accumulation time, poor people will have to sacrifice part of their income in order to have a good profit from Bitcoin investment, this will be hard on them since their funds for their basic needs will get smaller.  These kind of people will suffer more thus may increase the degree of poverty they experienced if they decide to invest and accumulate Bitcoin even in DCA mode.

What resolve poverty is by finding an immediate source of income that does not needs years to decade of years of waiting before getting a reasonable profit.  Finding an additional job that can give the family an additional income can elevate their status and combat poverty.  The government need to help in this and Bitcoin being decentralized cannot do anything about poverty, it can be a tool but it will never be the initiator.



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hero member
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November 01, 2023, 04:23:24 PM
#27
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, I don't doubt that because Bitcoin is in fact a great asset that anyone can have but it won't be helpful to decrease the poverty a lot because many people who belong to lower class don't really know the technical aspects of Bitcoin and for such people who aren't much educated investing in Bitcoin could be a very risky investment.

Those people have to trust others who may purchase Bitcoin for them and the other people can scam those poor people easily. Bitcoin isn't for everyone especially it's not for the ones who aren't educated enough to know the technology as those people won't be able to invest in Bitcoin directly.

Bitcoin is for those people who are good at technology and such people may have at least some knowledge to purchase and store Bitcoin because without that they won't be able to earn any profits from Bitcoin.
full member
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November 01, 2023, 04:21:18 PM
#26
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.
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November 01, 2023, 04:03:09 PM
#25
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?
Investing is not really for the rich, but you need at least to have some sort of job and earn enough to satisfy your needs and still have a little extra you can save each month, and depending on how big is that amount investing still may not be the best decision, and that money could be put to better use to start a small business and generate another income stream for you, then as you can see bitcoin will not really be the best choice for those people as they are betting everything they have just for the opportunity to get to the US.
sr. member
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November 01, 2023, 02:48:15 PM
#24
In all our expectations in Bitcoin, we need to understand that bitcoin is a currency and the idea of the creator of the coin was for it to be a currency. But due to the price volatility, it has now looked like Bitcoin is more of an investment asset than being a currency.

Why did I have to recap the above known fact, it is to let us know that we need to work in order to earn before we could buy bitcoin. Someone who has no job and no viable way to earn, how will bitcoin help the person? The role bitcoin will play in the context of OP is to fight against inflation when saving in BTC.
legendary
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November 01, 2023, 02:36:17 PM
#23
The only thing that Bitcoin could help with was in the past, 10 or 12 years ago, when you could easily buy 10 Bitcoins or more and then sell them when the price of Bitcoin reached 100k to obtain residency in the United States or citizenship of any country whose citizenship you could buy from. With a visa for that country, you can live safely in any country.
You can now improve the living situation in your country by investing the surplus in Bitcoin and waiting for several years.
legendary
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November 01, 2023, 02:36:10 PM
#22
Hmm, I'm curious how people think of Bitcoin, I know it's the right of everyone that He/She can have open thoughts, but sometimes it sounds like over-expectations.

I'm not saying anything that OP's thinking too much just presenting my point of view that global poverty is not a new issue, it can be more emerging recently due to huge coverage and social media. OP asked if is there anything Bitcoin could do, buddy the answer is not simple Bitcoin cant help directly in anything because it's not an assistance provider, Bitcoin is just a payment system.

It can help with the opportunities we can grab by exploring different aspects of it, as payment processors charge huge Bitcoinc and save that huge transaction spending, people can get out of the Traditional finance traps, high interests, etc, etc. They can explore many opportunities here, such as trading, financial planning, and better financial assistance services compared to the traditional ones.

What can really help in bringing people up from this middle-class trap, is a good education, I've seen many changing their lives from the lower middle-class to the upper middle-class by just getting educated and working timely on good skills.
sr. member
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November 01, 2023, 02:35:36 PM
#21

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?

Indeed Bitcoin investment is considered to be a good return and worthy investment for the future. Rich people invest more in Bitcoin because they have more capital. It cannot be denied that investing in Bitcoin requires a large sum of money. People who have less capital can certainly invest in Bitcoin, but they are less likely to get the returns they expect from Bitcoin.

A person who will invest $10 per week in Bitcoin, think for yourself, at this time Bitcoin is trading around $35k, how much profit will he get from investing in Bitcoin. The only reason I can think of is that if the lower class invests in Bitcoin with little money, and forgets about it for a long time, then they can get a good return. One should not expect high returns from less money for short term.
legendary
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November 01, 2023, 02:21:17 PM
#20
What does one thing have to do with the other, that is, bitcoin (alone does not work), it is not something that allows you to instantly change lives, it is a technological means that allows you to sustain financial openness to all....etc.

It is in fact somewhat confusing to always see this type of Gregorian ideas join to bitcoin.
Consequently, because people who have so much money end up helping poor countries through NGOs, because money is not everything, they need infrastructure and a labor liability, and to create awareness among those who can provide solutions,so, in short, bitcoin can be a part but not the whole of a project for humanitarian aid.
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November 01, 2023, 02:19:08 PM
#19
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?


Thus, every opportunity needs proper knowledge and guidance. some of the people you are pertaining to will just choose to not invest but just spend the money-savings that they have.

For me, It should always start from the Government in terms of Controlling in a good way for the Lower Class. Education is always a must.
hero member
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November 01, 2023, 02:18:36 PM
#18
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?
Have you ever heard the word diversity? It's a word from a biology book that means different species and different types of those species living in an ecosystem and how all of them are dependent on them. I said it because if all of the people will adopt BTC and start to think that they can eliminate global poverty, then it is a dumb idea because I don't think that poverty at the global level can be eliminated even if you use BTC or any other approach.

And investing $10 or $5 a week in BTC might look small, but it gives one hope—a hope to earn more and make some difference. I am poor, but not anymore since I got into BTC. If one invests $10 a week in BTC, he will make $20 sometime, double that amount, and so on.

BTC provides a way for the poor to get out of poverty, but not for all, and not everyone can benefit from it, and that's the nature of life. Not all fingers are equal. The bigger ones have no fear of money and they are taking risk, they can take risk, but poor have a lot to lose.
hero member
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November 01, 2023, 01:58:00 PM
#17
The rate of poverty across the globe is becoming worrisome. Many people are continually crossing below the poverty line to the state of depression. Is there anyway Bitcoin can assist in addressing this?
That's not the primary aim by which Bitcoin was created, because Bitcoin have longed time fulfilled its primary purpose and still fulfilling it by putting us in charge of our funds instead of the central banks, nor governments, and as such you shouldn't expect Bitcoin to eradicate poverty by people who barely knows how it works, nor have a clue how it operate as a digital currency. Because it's proven that all those who bought BTC 8 to 10years ago and could hold it for long are now millionaires. So you shouldn't expect Bitcoin to come make such move overnight now again this 2023, as such are always a gradual process.

Quote
I know many will think investment in Bitcoin is reserved exclusively for the rich or those who are comfortable;
Bitcoin was never created by Satoshi for a set class of individuals in the society, as it is a free decentralized digital currency that do not discriminate either between rich, nor poor, hence, available to everyone inasmuch as you have the funds and can afford any fraction of it.
hero member
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November 01, 2023, 01:29:42 PM
#16
Bitcoin can only play important role if they finds its valuable, anyone who doesn't make investment or trying to spare some funds to invest in bitcoin can never witnessed and enjoy the efficacy of it where as those who invested in time or discovered bitcoin at the earliest stage are enjoying the fullness of it. Come to think of this for you think the poor will give attention to bitcoin where as they can't even merely afford their three square meal a day and you think they can save upto $10 per week/months for investment?

Have you gone into street to see countless of people who begs for food to survive, at this point bitcoin has no impact to their lives rather for that to happen it will be that a program is being carried out to help those who can't afford a living to be gifted some items with the sole purpose of promoting a max adoption of bitcoin and cryptocurrency at large. It can only play a vital role when anyone is able to invest and hold by then we can say they are beneficiaries of bitcoin and blockchain at large.
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November 01, 2023, 01:10:41 PM
#15
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 I am a Bitcoin enthusiast and I believe Bitcoin would really improve the financial system in terms of it's advantages over the traditional financial system.
But Bitcoin as an investment opportunities promising individuals regards of their financial status a world of riches then I would say that's asking for too much.

Bitcoin investment isn't something new, there has been inviting in stocks, shares and trading, also real estate and land properties has existed but yet there poor people exist let's be honest investing in Bitcoin for great profits requires a good amount of capital right now, so Bitcoin for the poor or average still requires patient and gradual accumulation for a good amount of time.
legendary
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November 01, 2023, 01:04:45 PM
#14
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.
In many developing nations, $10 per week summing up to $40 per month is above the minimum wage, not something that an average Joe makes in a month, and definitely what they can spare in a week.

Bitcoin cannot fix poverty and is not a get rich quick scheme. If you're a potential immigrant your focus should be on trying to improve your financial status through multiple income sources and grow up from there.
sr. member
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November 01, 2023, 01:03:52 PM
#13
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?

How does bitcoin help in this situation? Your point of view is clear, but your assumptions appear to be ridiculous when we consider the many elements that surround it. For example, if all bitcoin have already been mined and the complete number of individuals in the globe living in poverty invest an equivalent amount of money in bitcoin, determine if it will lift all of those people out of poverty. Bitcoin can assist, but not as much as you might think in terms of lifting people out of poverty. To eliminate and limit the increase in poverty, all hands must be on deck.
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