Can Bitcoin Really End World Poverty? - page 49.

dothebeats

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Quote from: ipbo on April 03, 2015, 07:12:13 PM

I think you can help by donating if you want to help the poor ones.

I'm not against donating to the poor but that's basically spoon feeding. If all the rich people in the world starts donating to the poor, it might help lessen the poverty all around the world, but a possible ending to that would be those people in the state of poverty will just be dependent to those people who donates to them. Chances are, the rich will continue to feed and help the poor and the poor, in return, will (/) forever be depending on the rich. Sometimes, inequality helps, but most of the time it doesn't.

medUSA

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Bitcoin is a currency, an asset. How can it end world poverty?

People are in poverty because they do not have the opportunity to earn enough to meet their daily needs. Bitcoin is not a magic potion they can take an sudden becomes more knowledgeable and able to steadily earn more each month.

I agree that the blockchain technology can be used to publicly record ownership rights. Underprivileged poeple had nothing! They do not own anything of much value to be recorded in the ownership blockchain.

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Quote from: bornil267645 on April 03, 2015, 10:54:32 AM

Can bitcoin really do anything to solve world poverty problem? Brian Singer certainly think so. He thinks that Bitcoin can bring minimum everyday earning for people more swiftly than any other economy system.

Is it possible?

http://www.forbes.com/sites/steveforbes/2015/04/02/how-bitcoin-will-end-world-poverty/

NO

I hope that answers your question Wink

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Quote from: Mikestang on April 03, 2015, 12:21:58 PM

This exactly. A new form of currency is not going to solve the world's problems when the people with the power to make change can't or won't exercise that power.

I would not be surprised if an article pops up saying that Bitcoins intention to end poverty failed. Roll Eyes

Quote from: Jeremycoin on April 03, 2015, 07:42:28 PM

Quote from: Hazir on April 03, 2015, 10:59:16 AM

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. Humans are. 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. That is the problem.

IMO
"Corrupt" that is the problem, in my country there is so many corruption.
So with BTCitcoin we can see all of the people transactions, so we can easily find the people who corrupt state money.

I'm pretty sure that he wasn't just talking about corruption inside a country, but rather in general. People in general are bad (greedy would be a better word I assume). No, I'm not saying that we're all bad. Just take a look at this:
85 richest people have as much money as the 3.5 Billion poorest:
http://www.forbes.com/sites/laurashin/2014/01/23/the-85-richest-people-in-the-world-have-as-much-wealth-as-the-3-5-billion-poorest/
The whole system is flawed. Donating money to feed people doesn't do anything but help them survive another day. Bitcoin can't help here.

futureofbitcoin

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Quote from: 12345mm on April 03, 2015, 01:47:30 PM

technically you're correct ... but spending power = spending power , any way you define it ... it's simply a matter of liquidity when it comes straight down to it ... if i have 1/2 of a billion dollars in fiat currencies , and i've got real estate , stocks , bonds , airplanes , collector cars , and gold bars worth 1/2 of a billion dollars ... i have 1 billion dollars worth of spending power aka wealth ... i'd just need to hock the real estate , stocks , bonds , airplanes , collector cars , and gold bars in exchange for liquid capital if i wanted my wealth measured purely in fiat terms ...

See, the point is, both fiat AND bitcoin are a part of your wealth. You can sell your gold bars, house, and whatever else for bitcoin as well. So that's why what you said is a fallacy. You can only compare fiat and bitcoin, bringing wealth into the picture doesn't work.

Even if bitcoin replaced all fiat, there will still be people with houses, with cars, with planes, with patents, with stocks. And they can sell those for bitcoins. Personally I'd rather have a mansion than bitcoins.

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Quote from: Hazir on April 03, 2015, 10:59:16 AM

Quote from: bornil267645 on April 03, 2015, 10:54:32 AM

Can bitcoin really do anything to solve world poverty problem? Brian Singer certainly think so. He thinks that Bitcoin can bring minimum everyday earning for people more swiftly than any other economy system.

Is it possible?

http://www.forbes.com/sites/steveforbes/2015/04/02/how-bitcoin-will-end-world-poverty/

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. Humans are. 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. That is the problem.

IMO
"Corrupt" that is the problem, in my country there is so many corruption.
So with BTCitcoin we can see all of the people transactions, so we can easily find the people who corrupt state money.

ipbo

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I think you can help by donating if you want to help the poor ones.

johnyj

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It is possible when 1 satoshi worth $1, I will donate 1 bitcoin for poor guys Grin

Today's world poverty is largely due to the fact that banks must keep majority of people poor to make their money valuable (If everyone is getting 1 million dollar per month then there will be super inflation like Zimbabwe and fiat money will be destroyed). And in order to keep majority of people poor, banks must keep most of the money at their hand, and buying lots of debt to raise the living cost of majority of people constantly. That will increase the wealth gap and put more and more people in poverty

With bitcoin, loaning is much more difficult, people will start to save, and since no one can act like a slave master (central bank), all the existing model will change. 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

asuryan180

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This is impossible and will never happen, there is poverty by design and bitcoin is not changing that, it may even make more people poor if it goes pop and people have invested more than they can offered.
If you are poor/living in poverty the chances of having internet access are small so we probably won't even get them using faucets, entering give aways, doing small basic jobs etc

Q7

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No it won't. Whichever currency you decide to adopt, there will always be imbalances in terms of economic distribution of wealth. What bitcoin actually solves is ensuring that what you own is exactly what you own and the value doesn't get diluted because there are newly printed money coming into circulation.

BillyBobZorton

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It seems he is another one of those delusional guys that thinks the blockchain would support itself without bitcoin and mining:

Quote

I think bitcoin, or the, really, blockchain encryption that’s behind it, has a greater ability to bring more of the world’s population out of poverty than anything we’ve seen in

pozmu

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No it won't.
This article is complete bullsh*t. I mean, most of the facts are correct, but to conclude that Bitcoin/blockchain will end poverty is, sadly, a complete nonsense.

9000

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I don't see how, but it can for sure make economy a lot more efficient, specially across borders, too much money goes to intermediaries.

Totaldice

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I think it definitely can. The low transaction fees plus no middle man is a big plus for third world countries. The simplicity of being able to send money to your family compared to mailing money or going through banks with high fees puts Bitcoin at an advantage over traditional means.

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Quote from: gentlemand on April 03, 2015, 03:31:09 PM

Quote from: ensurance982 on April 03, 2015, 03:27:51 PM

But it still needs to be accepted. It's the old $5 wrench story... If there's some with a machine gun telling you to leave your house, you can point to the blockchain as much as you like, you won't win, unfortunately Sad

Agreed, but there are plenty of peaceful places where everyday contracts are such a shower of shit that it could settle some problems. I can't imagine many authorities would be too happy to have total trustability and transparency but at least it's now out there.

What if people lose their private key, though? Right now it really is still too much of a deal to put that much power into the hands of consumers, it seems. People seem to like being taken care of in case something goes wrong. It's sad, but I think this is a big hurdle for Bitcoin (and blockchain technologies in general)

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Quote from: redsn0w on April 03, 2015, 02:25:50 PM

No, I don't think bitcoin can end the world poverty. Because bitcoin as we know today it is only a pure speculation but it has created a lot of opportunity to a lot of person. I think when all this speculation will terminate, the value will stabilize (also to 50-100 dollars) and we can start to bitcoin from another point of view.

Now bitcoin is only a valid and good alternative for send large quantity of money (for example) to our relatives or parents in another country, without use WU, moneygram or other money transmitter.

I prefer to think of bitcoin as both a wonderful way to transfer value and a wonderful way to preserve value Roll Eyes

No, it's not just about being able to transfer fast and cheap. It's also about storing value, like gold, well, much better than gold actually. That's what makes bitcoin and blockchain a marvelous inseparable whole.

lophie

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No, At least personally I do not think so. But I think Bitcoin in many aspects especially in basic banking, it is taking alot of riches and value from the rich to the poor.

ensurance982

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Quote from: stupididiot on April 03, 2015, 03:29:05 PM

it might at some point taking into consideration its quick method. but honestly, we need fiat. one way or the other, fiat defines the concrete being of bitcoins price. for the time being at least

Actually we're just comparing or measuring the price of BTC in Fiat only because we need to have some way of gauging its value. Fiat money is just a very simple and fitting way of doing that, actually. We could also do it in loafs of bread or something...

opossum

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Quote from: bornil267645 on April 03, 2015, 10:54:32 AM

Can bitcoin really do anything to solve world poverty problem? Brian Singer certainly think so. He thinks that Bitcoin can bring minimum everyday earning for people more swiftly than any other economy system.

Is it possible?

http://www.forbes.com/sites/steveforbes/2015/04/02/how-bitcoin-will-end-world-poverty/

No it is not possible to "end world poverty" but it can play a part helping those who are quite short of cash but can manage to get online to earn money from small jobs but we are not talking a large amount of people.

I read that to help the world take a step from starving and give clean water to the world will cost only £13billion and that to put in perspective is what the USA and Euro countries spend on perfumes every year!

It has all been designed that the poor stay poor and BTC is not changing that.

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Quote from: ensurance982 on April 03, 2015, 03:27:51 PM

But it still needs to be accepted. It's the old $5 wrench story... If there's some with a machine gun telling you to leave your house, you can point to the blockchain as much as you like, you won't win, unfortunately Sad

Agreed, but there are plenty of peaceful places where everyday contracts are such a shower of shit that it could settle some problems. I can't imagine many authorities would be too happy to have total trustability and transparency but at least it's now out there.

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