Topic: Can Bitcoin help? - page 6. (Read 681 times)

I Agree with you that it's an impending global crisis when it comes to income per capita especially within the middle income earners and the lower class, but bitcoin can only come in to salvage the situation if this number of immigrants or people that have fallen below the poverty lines have jobs and can keep or save money so they can invest in Bitcoin. hence they don't have that purchasing power, it will be very difficult for them to successfully invest in Bitcoin, so first they need to earn, so that they can invest.

Bitcoin can help the unbanked & less fortunate countries in the future. Its decentralized nature allows individuals to access financial services without relying on traditional banking infrastructure. Bitcoin can provide a secure & low cost means of transferring funds which enables financial inclusion for those without access to traditional banking services. I guess challenges such as technological barriers, regulatory frameworks & volatility need to be addressed for widespread adoption. While Bitcoin holds promise it should be seen as one tool among many in the broader effort to promote financial inclusion & economic empowerment.

Chaos will not happen just because of the level of poverty. Bitcoin can help with this problem, but not for everyone.

Investments in bitcoin are intended for all segments of the population, regardless of their level of financial well-being. Invest at least $10, at least $1000, the profitability in both cases will be the same (I mean the multiple of the profit received).

Bitcoin will not make poor people who invest $10 a week rich, but it will prevent them from slipping into deeper poverty. Although this sounds overly reassuring, in any case it is better than storing this money in cash.

Bitcoin offers a unique opportunity not only to speculators, but to all people in general and not only for making money. I think you are very wrong and bitcoin will not change the rapid decline in poverty. Yesterday celebrated the 15th anniversary of the publication of the Bitcoin white paper, you can look at the corresponding topic, and so, in this white paper there is not a word that the bitcoin can or should solve problems related to poverty. It is just a unique form of electronic money used as an investment tool, not a magic wand to cure poverty.

People think that Bitcoin investment is only for the Rich because of its price, and most of them think they have to buy 1 BTC. Also, $10 a week isn't little, cause you're talking about poverty and not the state of being broke. In poverty, people barely see food to eat, they most definitely don't eat 3 times daily and sideline their wants. So, for a poor person to invest in Bitcoin is really not as easy as you think.


No doubt that Bitcoin opens a lot of doors of opportunities, however, investing in Bitcoin is not a cure for poverty. How much do you think a poor person would be able to invest to see encouraging gains? and we know that Bitcoin investment isn't magic; it takes time after the highs and lows.

First, bitcoin is not a miracle or something that your problem will be solved once you have it. Second, not all who hold bitcoin become successful, some experience the worst. And it takes time before to make profit, not because you did profit last month, it doesn't mean it will be the same in the new few weeks. Lastly, only those knowledgeable did make a progress and success. I doubt farmers just like you mentioned can grasps these kind of knowledge and it always takes time, I'm not saying they can't learn, but most who experience poverty priorities to find job instead of going to school, it is the same thought about it if you will think about it.

If you're already struggling I don't know if investing in a hugely volatile asset will help. They're better off trying to create new income streams instead of investing in assets, to be honest. They should only buy bitcoin with a small enough allocation whereas they won't be forced to sell if they needed cash.

I beg to differ from your opinion, bitcoin is here to solve many problems like making transactions fast most especially cross border transactions, you been able to be your own bank and having a currency or asset that hedges against inflation. But been a poverty alleviation scheme I don’t see it been that, although many of its traders or investors have the advantage of getting profits because it generates ROI but that also comes with the risk of losing. Losing can only be avoided when you hodl for long but do an average or poor individual has that ability to turn an eye away? I doubt.

A poverty alleviation scheme is something that employs people or give loans to people to start a business. Bitcoin is not that, although there are tech savvy people that could work and get paid by bitcoin but will that solve much of the problem No?.

Bitcoin mining is only area where you can actually work and earn as business but even that requires funds and knowledge to set up

It's not just about fast means because Bitcoin cannot provide an answer to when people will get big profits by investing.
Bitcoin is not the answer to the problem of poverty because Bitcoin is actually a payment system created to make it easier for users to make transactions without having to come and queue at the central bank.

Considering that many people use Bitcoin as an investment and many have gotten big returns when the price experienced a big increase, people think that Bitcoin can solve problems such as poverty which continues to increase every year.
From this we can understand that people's mindset about Bitcoin is no longer on the right track due to hearing one-sided stories from someone who became rich by selling all the Bitcoin they owned.

I doubt it. Bitcoin has a limited liquidity while the global poverty is more than the marketcap of Bitcoin. Even the government with unlimited supply fiat failed to address poverty.

Bitcoin investment might help to get you some profit but it’s not sufficient to defeat poverty especially if you are only investing small amount of money on it. This is possible when we are on the initial phase of Bitcoin which the price is near a dollar each since the growth is exponential but right now the price is discovered and having even x10 gain is very hard to accomplish on the current price.

Investing on Bitcoin is not bad if you are poor but don’t rely on it solely to getaway from poverty since you will need steady source of income to maintain consistent investment and purchasing your necessities.

Let's not look at bitcoins as an over-all problem solver; let's also think outside the box. The rate of poverty increasing day by day is both the cause of the government, whose citizens are below the poverty rate, and that of the citizens themselves. If the government fails to create jobs and other things that can keep the country moving and opportunities being created, what are you doing as a citizen?
 
Most times people feel very reluctant, as if they can never do anything for themselves and escape poverty in a country that's not doing well. If you come from someone where the country doesn't care much about job creation, you as a citizen of such a place should focus on self-development and build yourself to a standard that people will need your service. You can, from your developed skills, employ many others, and from there you have been able to lift one or two people in your locality off the unemployment list.
 
Is it not someone who has something to feed and is in good health who will be able to spare out a few dollars and invest in bitcoin, and even if they try and save out that little penny and invest, how long do you think it will take for it to give them profit, and how many times profit do you think they will get from it that will be enough to change one's financial status? What the people need now is to be more industrious, create jobs for themselves, or look for one and attach themselves? I don't see bitcoin lifting poverty from anyone's life currently.

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.

Only then Bitcoin comes into the play, as people can be paid through the digital currency, which is much more interesting thinking on future gains and fighting inflation than fiat ones.

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?