Topic: Create wealth first before the use of bitcoin - page 2. (Read 912 times)
You have a point because those who introduce people don't actually tell them the value and the risk behind it which is why you see people taking loans to buy bitcoin. Most people are actually failing to understand the purpose of bitcoin, everyone has this belief that bitcoin is a fast way to make money, I don't see anything bad when it comes to awareness not bad in my region people were seen bitcoin as fraud but just because of does awareness they have actually seen the good in bitcoin, you have a point because those who introduce people don't tell them the basics.
For me it is not about wealth it is more about knowledge and financial management.
People could use Bitcoin or crypto whenever they want, but they should know how to handle or manage it (Risk Management).
A lot of things are involved in the decision making, knowledge of how bitcoin works and how it can be traded without buying at the wrong time - seems very simple but goes wrong at the wrong time when the quick decisions are taken.People could use Bitcoin or crypto whenever they want, but they should know how to handle or manage it (Risk Management).
Financial management is a more broad term where you have to keep a long term goal. It is more applicable to the mature group of people who are trading for long time and are managing different asset classes easily with good flow. Should be started from the newbie stage though.
Bitcoin will give the financial stability so to eliminate the poverty you are talking about is to invest in bitcoin although, in this modern world, there is no typically or remote area that there is no internet service. The only thing you can say is that the internet in some rural areas are facing network issues. Which probably a slow network issue.
Elimination of poverty will no happy by just a magic bullet which you assume to be bitcoin. Poverty stems from a large number of factors which need to be worked on first before the people's lives can be improved. It is not going to happen overnight. 
I don't think we should consider that one, that you should create wealth before you use bitcoin, you can still use bitcoin to create wealth. Eg like people in the rural area battling with poverty how can we say we shouldn't spread awareness of bitcoin for them to make the use of it they create wealth
I have always come across people giving stories to promote bitcoin or give awareness of bitcoin in rural areas. It is a very nice job to tell people about bitcoin because it is the major currency in the world. In this rural area how can bitcoin be used when majority of people in the the town are battling with poverty, and how can bitcoin be used when majority don't have access to Internet. I think people in rural area needs to be financially stable first before knowing bitcoin.
Bitcoin will give the financial stability so to eliminate the poverty you are talking about is to invest in bitcoin although, in this modern world, there is no typically or remote area that there is no internet service. The only thing you can say is that the internet in some rural areas are facing network issues. Which probably a slow network issue.
For me it is not about wealth it is more about knowledge and financial management.
People could use Bitcoin or crypto whenever they want, but they should know how to handle or manage it (Risk Management).
People could use Bitcoin or crypto whenever they want, but they should know how to handle or manage it (Risk Management).
Not only in rural areas, but people in general. Don't get me wrong — bitcoin is GREAT, but it doesn't provide income; it just somewhat gives your savings a boost. I'd personally focus on having a second(or third) source of income first before allocating a bigger chunk of money into bitcoin.
Right. In fact, bitcoin cannot guarantee us sustainable profits because of its market volatility so we should secure first our finances through looking a stable job that can give us fixed income. When there is already good amount of capital that is considered extra money, then we can start investing in bitcoin. We must only consider it a side income, definitely not a main job. Otherwise, we will end up starving again because of extreme poverty.True. But that only applies if you look at Bitcoin as an investment, and we should not. Bitcoin is a currency, not an investment. Bitcoin does not produce income, it is not a stock, but it is a currency. We should use it as such.
Not only in rural areas, but people in general. Don't get me wrong — bitcoin is GREAT, but it doesn't provide income; it just somewhat gives your savings a boost. I'd personally focus on having a second(or third) source of income first before allocating a bigger chunk of money into bitcoin.
Right. In fact, bitcoin cannot guarantee us sustainable profits because of its market volatility so we should secure first our finances through looking a stable job that can give us fixed income. When there is already good amount of capital that is considered extra money, then we can start investing in bitcoin. We must only consider it a side income, definitely not a main job. Otherwise, we will end up starving again because of extreme poverty. 
When you say wealth, that means large amount of sums but didn't you know that a lot that are involved in bitcoin are poor people? And the reason why they invest is to build wealth. If they are already wealthy then chances are that they won't focus on making more money. I know there are some of them who continues to invest. They are likely scared to go poor or they simply want to build more wealth to become more powerful.
The good thing about BTC compared to any other assets is that it is divisible which means you can invest on it on smaller amounts but the only problem is like you said if the we don't have internet in the place. Not because we don't have phones or computers but there are no cell sites on the place. This was the government's duty already but we can always migrate downtown or in urban places, till the rural areas were developed properly.
The good thing about BTC compared to any other assets is that it is divisible which means you can invest on it on smaller amounts but the only problem is like you said if the we don't have internet in the place. Not because we don't have phones or computers but there are no cell sites on the place. This was the government's duty already but we can always migrate downtown or in urban places, till the rural areas were developed properly.
First and foremost, individuals in rural areas need to be educated about blockchain technology and cryptocurrencies in general. The majority of rural residents lack technical education.The majority of rural areas lack even internet connectivity.
Second, I believe that the government should recognize Bitcoin as legal cash so that people will be more inclined to learn more about it and make investments in it.
Never invest in something you are unfamiliar with. 🤪
Would the recognition of bitcoin as legal tender help? I think it could but we cannot count on it, governments know very well what it is at stake here, their fiat currencies have been dominant for so long and they bring them so many benefits that they are not going to give them up just because a new technology appeared, so bitcoin needs to succeed despite the governments, and without a doubt rural areas can be a challenge as in most countries rural areas are nowhere near as developed as urban areas. Second, I believe that the government should recognize Bitcoin as legal cash so that people will be more inclined to learn more about it and make investments in it.
Never invest in something you are unfamiliar with. 🤪
I have always come across people giving stories to promote bitcoin or give awareness of bitcoin in rural areas. It is a very nice job to tell people about bitcoin because it is the major currency in the world. In this rural area how can bitcoin be used when majority of people in the the town are battling with poverty, and how can bitcoin be used when majority don't have access to Internet. I think people in rural area needs to be financially stable first before knowing bitcoin.
I think you are not wrong if you suggest that someone should at least be able to meet their needs first, at least to eat today before investing.
But in my opinion, of course there is nothing wrong if someone tries to share or share knowledge about cryptocurrency in rural areas.
Even though it's in a remote rural area and there's rarely internet access, there's nothing wrong with sharing information, right?
I always think that those who share knowledge and introduce cryptocurrencies don't only introduce cryptocurrencies.
But of course they have analyzed and have a plan and they have a goal.
Whether the aim is to make rural communities literate towards digital developments or to help rural communities in investing.
I'm a country person, my village is far from being economically established and there are always a lot of disturbances on the internet network, but that doesn't mean you can't know Bitcoin, for me knowing Bitcoin is important to know Bitcoin in general, basically it's true that bitcoin investment really needs stability economy. At least their daily needs are met. but my view on investing depends on how we keep the money we have and save the rest to invest in Bitcoin.
the rest of my spending from shopping for necessities can collect as much as $40 per month, and I make it my investment fund in Bitcoin for the long term.
the rest of my spending from shopping for necessities can collect as much as $40 per month, and I make it my investment fund in Bitcoin for the long term.
As long as you have internet no matter how slow or intermittent it is you can really know bitcoin. Social media is one of the sources that people who are in remote area knows bitcoin since i am sure one of his/her friends would open up a topic about bitcoin and then your curiosity starts on it. Managing our investment is really the key as we know if we know how to handle money then i am sure we can handle our profits from investments.
I'm a country person, my village is far from being economically established and there are always a lot of disturbances on the internet network, but that doesn't mean you can't know Bitcoin, for me knowing Bitcoin is important to know Bitcoin in general, basically it's true that bitcoin investment really needs stability economy. At least their daily needs are met. but my view on investing depends on how we keep the money we have and save the rest to invest in Bitcoin.
the rest of my spending from shopping for necessities can collect as much as $40 per month, and I make it my investment fund in Bitcoin for the long term.
the rest of my spending from shopping for necessities can collect as much as $40 per month, and I make it my investment fund in Bitcoin for the long term.
Quote from: Pablo-wood
think people in rural area needs to be financially stable first before knowing bitcoin.
You don't need to create wealth or financially stable before you can know Bitcoin in the rural areas, and all you need to do is to have positive mindset that you want to know Bitcoin and how it works for people that know it in the community. If you are Rich and you don't know Bitcoin you cannot use it to grow your wealth like other people that learned digital currency from a facilitator are doing well in some rural areas. Bitcoin is an asset you need to study very well before investing your capital, because it can dump through out the half years and pump few months before dumping again, which is part of some of the things rural areas people need to focus on in the community.
The OP is not misguided. I know there is a lot of Bitcoin maximalist on this forum, but it is better to have a minimum of savings before accumulating Bitcoin, I would say a minimum of 3 months of easily accessible cash expenses, and from there, accumulate.
Well, that is actually relative, in bull markets you can make partial sales and it provides you with income to be declared in your income tax return. Making an analogy, I prefer a stock that does not give dividends and gives a 10% annual return, being able to sell 5% each year than a stock that gives me 3% dividends and does not grow.
Not only in rural areas, but people in general. Don't get me wrong — bitcoin is GREAT, but it doesn't provide income; it just somewhat gives your savings a boost.
Well, that is actually relative, in bull markets you can make partial sales and it provides you with income to be declared in your income tax return. Making an analogy, I prefer a stock that does not give dividends and gives a 10% annual return, being able to sell 5% each year than a stock that gives me 3% dividends and does not grow.
Everyone can invest in Bitcoin, and people in rural areas must not only maintain financial stability before investing in Bitcoin, but more importantly, raise Bitcoin awareness. When they understand Bitcoin and how to make money, they may be more eager to own Bitcoin, which prompts them to start investing and accumulating Bitcoin to improve their economic situation.
I have always come across people giving stories to promote bitcoin or give awareness of bitcoin in rural areas. It is a very nice job to tell people about bitcoin because it is the major currency in the world. In this rural area how can bitcoin be used when majority of people in the the town are battling with poverty, and how can bitcoin be used when majority don't have access to Internet. I think people in rural area needs to be financially stable first before knowing bitcoin.
You're right! I myself am from the countryside and got acquainted with Bitcoin only after we had the Internet, I earned some money and bought a laptop, although a smartphone is enough to get acquainted with BTC. As you can see in my example, I had to earn money first to get access to information about Bitcoin and this is a big problem especially for rural areas. But it's okay, the world is developing and the countryside too, which means there will soon be even more people who learn about Bitcoin.
I have always come across people giving stories to promote bitcoin or give awareness of bitcoin in rural areas.
This implies Bitcoins target market are the rural areas but fortunately Bitcoin caters for all provided you have some sort of computer or phone and an internet connection. It is a very nice job to tell people about bitcoin because it is the major currency in the world.
AFAIK BTC is the biggest cryptocurrency by marketcap yes but not biggest currency, fiat does win this race by a landslide. In this rural area how can bitcoin be used when majority of people in the the town are battling with poverty, and how can bitcoin be used when majority don't have access to Internet. I think people in rural area needs to be financially stable first before knowing bitcoin.
When you try to connect rural areas with bitcoin, I think it's not about bitcoin but leveraging the blockchain technology to their advantage and this is were altcoins and other startups flourish! 
in because it is the major currency in the world.
This word is very inconsistent with reality, it is too much in my opinion, because in reality bitcoin is not a world currency, from here you have given the wrong information to the wider community about what bitcoin is.
you should say bitcoin is the main cryptocurrency of all existing crypto.
because as we know bitcoin has not been officially accepted in all countries and governments
It is a major cryptocurrency, but not a world currency, it is not yet acknowledged by many countries but it can be used by anyone in the world as an alternative currency. I think it would fit better to say Bitcoin is the world's alternative currency.
I have always come across people giving stories to promote bitcoin or give awareness of bitcoin in rural areas.
its simple . pump , pump and dump scheme .how else can you effect the price?
you can call it currency as long as you want , its not .
real currency don't need promotions and fairy tales .
with real currency , there is no prize for early adopters , that's just stupid .
If it is not currency then why does people accept it as mode of payment? Even countries like El Salvador, Brazil and many more accept it as a mode of payment. You can deny it as long as you want but the proof of Bitcoin being a currency is evidently strong.
It's currency, it's an investment, it's a safe place to store assets... bitcoin is flexible and what it becomes depends on how we use it. For countries like Brazil, El Salvador, or Central South Africa, bitcoin is considered the official currency. But claiming bitcoin is the world's main currency is undoubtedly an exaggeration. Bitcoin is still considered the most volatile asset today, and because people care so much about the price of bitcoin, it is better suited as a commodity, an investment, than a world currency.
First and foremost, individuals in rural areas need to be educated about blockchain technology and cryptocurrencies in general. The majority of rural residents lack technical education.The majority of rural areas lack even internet connectivity.
Second, I believe that the government should recognize Bitcoin as legal cash so that people will be more inclined to learn more about it and make investments in it.
Never invest in something you are unfamiliar with. 🤪
Second, I believe that the government should recognize Bitcoin as legal cash so that people will be more inclined to learn more about it and make investments in it.
Never invest in something you are unfamiliar with. 🤪
Many don't have access to a banking system or it's cost prohibitive to do so or don't meet the criteria.
Bitcoin can provide that service very cheaply. Additionally able to receive monies from relatives abroad.
The minimum entry point is a smart phone.
You seems to misunderstood the point OP is trying to make. Yes, the minimum entry is smart phone but what is the essence of having smart phone without having access to internet? To partake in Bitcoin you must first of all have access to internet service which allows you to connect to the world. Majority of our rural areas lacked this access which make their access to Bitcoin more difficult. Although I don't believe that people living in rural areas are mostly poor. Bitcoin can provide that service very cheaply. Additionally able to receive monies from relatives abroad.
The minimum entry point is a smart phone.
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