Topic: Can Bitcoin Really End World Poverty? - page 26. (Read 10109 times)

Bitcoin can fight poverty in our world, only those people who own the Internet can do it, and those who live far away from the city, and their large number, without knowing about the whole mass of information, crypto currency will not be able to earn so much.

For me bitcoin cant end world poverty because first of all not all of the people in different countries knows about bitcoin. Some doesnt have enough materials to start bitcoin. Some countries didnt approve to bitcoin and even if a country allows bitcoin it will still depend on the people. Wether they are interested or not, if they believe in it or not because the people will make and do the job and bitcoin is just an instrument. In the end it will still depends on the people if they will embrace it or not.

There is not many people that know how to improve Blockchain, transactions may get stuck if they all went on at the same time. Bitcoin is not the answer to that.

Personally, i think the answer is no. If we want to end the world poverty i think the government has that kind of power then we the very people involved. The government must alter current laws and such. People need to work smart and work hard to depart from the poverty line. Cryptocurrencies cant end it but it offers opportunities for people to cope up and earn money but its not enough i think.

For me it has a 50\50 rate percent, because their are positive and negative side of bitcoin, now if they let bitcoin grow and help the world it can be helpful and a key to all poverty in the world, but other side their will be a negative effect, just like illegal crimes that involves bitcoin will be normal for them because this will be a part of it

It's a big NO. Bitcoin will never end world poverty because not all people can provide to buy gadget and not all places in the world is modernized.

Bitcoin is not a miracle that can end world poverty. Governments cannot even end world poverty, much more on Bitcoin that lies on the digital world. A fiat currency cannot even end it, how much more on a cryptocurrency. Bitcoin must be worked and must be given enough time. Those under the poverty line cannot even have enough money to buy their needs, then how can they even afford to buy internet, smartphones, computer and bitcoin.

possibly if bitcoin is supported by the government in each country. Indeed bitcoin is still the stage of development, but if bitcoin is supported by the government it can be poverty in their country can be helped It is still my picture alone or in my opinion.

I also agree to what hazir said. Greedy and corrupt people are the cause of poverty. Bitcoin can help provide new ways to earn income but not everybody have easy access to the internet or gadgets. And it  is not that easy when trading. So bitcoin is not the answer to helping rid of poverty

If bitcoin is still alive, Its will have ability  to reduce poverty. But it's totally impossible to end poverty all over the world. I wish bitcoin will still alive and its can reduce poverty all over the world.

bitcoin will not end poverty but bitcoin will reduce the poverty that exists in this world. now bitcoin has grown for everyone who wants to join her to break down poverty. bitcoin is just digital money that will be used until the future and now this digital eye has been used to transact. now many countries are receiving bitcoin to reduce poverty, and that is a good development to benefit.

I heard about using bitcoin with the charity aims. But we must remember that Bitcoin and digital money first of all just a tool and it can be used for making the economy better more effective. This is the right way of cryptocurrencies doing.

It is possible if the mainstream media & publications  do not put fear in Bitcoin investors, If only banks will not make you fearful because they wanted your money in their banking system so they could price you with unnecessary fees.  It is possible because for every Bitcoin that a person invests, the value of it increases the chances of getting out from debts and financial hardships.

my opinion with the presence of bitcoin can certainly help the bottom of society and they are very helpful and certainly reduce the unemployment rate

Bitcoin put in the right hands will allow the concentration of power in those who are worthy. Those who see the best in humanity and strives to turn the most corrupt, the most evil and the worst of mankind into people who care for fellow man and are willing to sacrifice to improve the lives of others.

Bitcoin is a restructuring of the global elite, and with that power, the new elite have a choice on whether to improve the world or make it even worse from how it is now.

 People are so corrupt and flawed that they do not care about making this world a better place, they just care about themselves. That is why we will never have world without poverty, wars and terrorism. Bitcoin is nice tool but it is people who will be using it. The short and only answer is no, bitcoin will not help to solve world poverty problem. Why? Because economical systems, regulations and laws are not the problem here.

Honestly speaking i just say bitcoin wouldn't solve the world's poverty problem.BTC was developed for decentralized transactions cutting out the middlemen.Maybe it will not end world poverty immediately, but it definitely can give everyone a fair play ground, so many people have chance to get rid of poverty. With today's fiat money system, it is no way to get rid of the trend of increasing poverty, since it is by design

It’s really hard to predict.

If you ask me the technology of the future, it's certainly Blockchain which is the same technology underlying Bitcoins.

The main problem currently associated with Bitcoin is its transaction capability per second.

For PayPal can process about 1600 transactions per second, bitcoin is restricted to just 6 transactions per second.

Now, some of the solutions that are possible are Seg2X where you increase the block size from current 1 MB to 2 MB.But that certainly requires complete hardware overhaul for miners.If it happens that Bitcoin accepts Seg2X, then it might be possible that not every miner migrates to the costly hardware needed for mining the new blocks.

So this will to the centralisation of Bitcoin which destroys the fundamental property of Bitcoin i.e. decentralized.

An alternative to this is the User-Activated Soft Fork wherein you drop the witness part of the each transaction so that more number of entries can be made to a single block.This certainly benefits the users of Bitcoin as it causes more unconfirmed transactions to be added to the block more frequently.This allows transactions to be processed immediately.

But the miner's contention is to drop the witness part and also increase the block size. So all those miners who can’t afford expensive hardware migration would disappear reducing the competition for big players.

The User Activated Hard fork that happened on 1st August lead to the creation of a new currency.The only reason being that mining Bitcoin Cash requires way more strong hardware than BTC which was basically in favor of big miners. The small miners preferred to mine the existing BTC.

So it certainly depends on how the technological advancements are adopted keeping intact the fundamental properties(decentralized) of Bitcoin.

Bitcoin can be used for various purposes. Mainly:

1. As a currency i.e. for day to day exchanges.

2.Investment purpose for long-term returns.

Moreover, the property of anonymity in Bitcoin is something that serves as a boon as well as a curse.

It might change the lives of those who knows how to access and have enough knowledge about bitcoin. But it can't end world poverty because some countries doesn't have any access about bitcoin and some people doesn't have knowledge about computer. I believe it will just change the financial status of users individually. It is profitable but it has it's limit.

Bitcoin is an instrument that can give a huge profit in a verry simple way, and if we are going to believe that It can give as a huge profit and we take serious action of gaining through it maybe it can really end the world poverty, However everything is really depnd on us and not in a bitcoin because even if the bitcoin is there and the people really didn't believe or maybe trust it maybe bitcoin is no use at all.