Create wealth first before the use of bitcoin - page 5.

lionheart78

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Quote from: Pablo-wood on December 08, 2022, 05:00:03 AM

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 disagree with what you said that people need to be financially stable before knowing Bitcoin. There is no written rule that people are barred from learning Bitcoin unless they are financially stable. Bitcoin is a currency, now tell me do people need to be financially stable in order to learn fiat currency? I said, no. I think it is best for people to learn about Bitcoin and the finance system as early as possible and it is much needed when people are unstable in their financial status.

Knowing about Bitcoin and the financial system can help them realize why they are still financially unstable. The knowledge about Bitcoin and financial literacy will help them a lot and may change their way and apply right knowledge so that they can have financial stability. Remember knowledge is power, if we acquire it, everything will follow.

uneng

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Where I live rural areas already have access to internet, so it's not impossible for them to adopt and deal with bitcoin daily.

The other point is a minor issue yet. To live in rural areas isn't a synonym of poverty and misery. The life at countryside can be very confortable and more economical than living at big centers.

Rural population also likes investments and economies. They just have to be presented to bitcoin. I'm sure some farmers would enjoy investing part of the profit made through the sales of their crops, pigs and cattle in bitcoin.

The Cryptovator

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If you choose Bitcoin solely to make money quickly, it will most likely be difficult. To invest in Bitcoin, you must be financially stable and understand how it works. The rural area is most likely a village without a wide range of facilities. One of the most important facility that they lack is access to the internet. Which is required in order to use Bitcoin. However, teaching them Bitcoin is extremely beneficial. They could use it later when they are capable and financially established.

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Quote from: Pablo-wood on December 08, 2022, 05:00:03 AM

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.

Some people try to promote bitcoin as a form of generating income and this is misleading, bitcoin itself does not generate income but some associated activities with it can, like trading or investing, this means that in order to invest in bitcoin then you need to have some money in hand already, and if you do not then you cannot do it, also if we consider that in order to get access bitcoin you need a computer, electricity and Internet then it can be quite hard for the poor to get access to it and it is better for them to just use cash.

Japinat

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Quote from: Pablo-wood on December 08, 2022, 05:00:03 AM

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.

To begin with, poverty is not really only focused in rural areas because even in urban areas, we can still see and tell that there's a lot of people who are also battling to survive poverty every single day, people who can't really afford to feed their families 3x a day because their budget are not that big as they have a lot of things too that they should be allocating budget apart from their daily needs.

Bitcoin is a great tool to help people to be more comfortable on their lives and it gives the people an additional option to avoid inflation, but that line is limited and only served to the people who can afford to invest because just like what I stated above, not all people have the means to at least feed themselves.

kryptqnick

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Quote from: Pablo-wood on December 08, 2022, 05:00:03 AM

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.

There are some conditions that must be met before people can properly use Bitcoin, before using it starts making sense. One such condition is stable electricity and access to Internet, which includes having a device (laptop or smartphone) where one can access coins and perform transactions. Another condition is, I'd agree with you, not being in severe poverty. If you live on a very small sum per day, volatility of Bitcoin and its transaction fees can be very significant to you. So you need to already be at the point of some sustainability before you can risk with BTC volatility. Moreover, the more wealth you have and can afford to direct into Bitcoin, the more you'll profit from it, but if you already have tons of wealth, the marginal value of having much more of it is quite low. So the conditions have to be just right for it to make sense to have and use Bitcoin.

rby

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Quote from: Frankolala on December 08, 2022, 09:01:20 AM

Everybody needs bitcoin awareness irrespective of your area or location to help the adoption of bitcoin widely. The people in the rural area are the ones that needs this awareness mostly because they can decide to save the money they gets from the small scale business, and moreover there is always a rich man and business people in rural areas,there are also markets and they sell or lease their lands to strangers or to agricultural investors.

If you are hungry and not hopeful of launch and you don't have money to buy data. It could be that you don't have internet enabled phone and I am talking to you about bitcoin investment, how will you feel?
Let us assume that you will feel good and motivated and then you will go borrowing to invest. You were able to borrow $100 and invest in Bitcoin, within the next 7days your borrowed $100 becomes $75. How will you feel at this time? Still happy and confident?
If you will feel different, that is what OP is talking about.

michellee

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That shouldn't be the case because as long as they have a connection to the internet in rural areas, they can start learning about bitcoin. The more they can learn about bitcoin, the more they understand that bitcoin can be a great way to get rich. The key to how they can use bitcoin is an internet connection; in this era, many rural areas already have access to the internet. As long as you can put aside a certain amount of money to buy bitcoins, you already have a chance to profit.

so98nn

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I think I have reverse psychology while using the bitcoin. You can actually create wealth by saving little chunks now and then in the form of bitcoin. If we are going to enter into the market with the attitude that bitcoin is going to make me wealthy and thus I need to buy half million worth btc right from start then definitely it’s gonna put wrong impression.

On the other hand if you start saving now and then every month then you can see how bitcoin is going to make you millionaire after few years.

That Time Wait wager is something magical.

It’s been 13+ yrs now, more 13+ will go just like that. We will still have life to live, better start saving in bitcoin and let it grow.

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Quote from: Pablo-wood on December 08, 2022, 05:00:03 AM

~snip~

You have actually told the reality, there are many areas in the world, especially in the third world poor countries where you won't be able to find the equipment for using Bitcoin ie the internet or mobile phone, or computer. But I think that just like the current fiat currency was not accessible or useable to everyone in the beginning, as well as Bitcoin or cryptocurrency will gradually reach everyone I think Bitcoin or cryptocurrency journey still has a long way to go.

Ryker1

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Quote from: Pablo-wood on December 08, 2022, 05:00:03 AM

^[snip]
It is a very nice job to tell people about bitcoin because it is the major currency in the world.

You are misleading people in that way --bitcoin is not a major currency and we all know that even the creator of bitcoin did not has this goal on bitcoin. It is an alternative to fiat currency that can be used for online transactions.
Rural areas now have many internet providers, unlike remote areas. Just continue spreading bitcoin and also the good news, because as of now the image of this bitcoin has been ruined because of the new scam projects that when people talked about in general because that is cryptocurrency when we talk cryptocurrency --bitcoin is the main center of attraction.

Yatsan

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Quote from: Pablo-wood on December 08, 2022, 05:00:03 AM

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.

First of all it is not a major coin around the globe; it is not even accepted or recognized as a mode of payment on most of the countries although there are some. Another thing is initiative with investing into this technology. The market price is volatile which gives risk to people's asset in this industry but that's just a part of this industry given that market value is determined solely by demand. With this, ofcourse everyone is encouraged to also invest BUT only if they are aware of the risk and if they can endure changes from the market price from time to time. There's no need to be financially stable, you just need to have an amount you can 'rest' to this industry either for a long peiod of time or not. Or simply an amount you can afford losing to lessen the weight of assuming big profit.

DooMAD

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Whether someone has wealth or not, or is based in rural or urban areas shouldn't matter too much. The main factor (in my view) is how Bitcoin is presented to them and what their reasons are for getting involved. I'd rather see people getting on board with healthy motivations. Not just blind greed, like many seem to. Anyone treating it like a get-rich-quick scheme is missing the point. Yet some people market Bitcoin to others as though it were purely speculative. I would have hoped we could move beyond that stage by this point in time.

If people are being alerted to genuine features that would be of use to those in rural settings, then yes, go right ahead and spread the word. Just be sure to do it responsibly. We're not trying to convert rural folks into gambling addicts.

Rockstarguy

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If people in your area are not financially stable that's does not stop them from still having knowledge about bitcoin. People can still know about bitcoin it doesn't mean they must invest, but it is necessary from them to still know about it for preparation for the future. If one is poor today it doesn't mean one will remain poor forever, we are all growing and after learning bitcoin now it can still be used to invest in the future. No knowledge is a waste, knowledge about bitcoin is not for the rich people but everybody.

Maidak

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I am also a non-rich person and my purpose when investing in bitcoin is to find financial stability as well as increase my wealth in the future, so I think anyone can invest without having a stable financial situation. But we need to understand investing in bitcoin is not to get rich quickly and it still carries some risks. So make sure you only invest what you can lose, don't borrow or use the money you can't lose to invest in bitcoin.

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Quote from: Pablo-wood on December 08, 2022, 05:00:03 AM

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.

You are hitting the right place. You have to realize that the people who do such promotions are usually paid by some crypto based companies to promote their product in the middle of the entire speech. Like a wallet or an exchange or a casino which are the most common ones.

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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.

Definitely, bitcoin is a currency after all. It has to be earned or collected in the same manner someone is earning fiat. It cannot be created just from thin air. At one point people were so euphoric about bitcoin that they thought it will end poverty, but this is truly not the case. Rather better living conditions, electricity and internet are first before people start saving their local currency and then once they are stable they can think of risky investments like bitcoin.

Obari

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I really can't agree less with you on this very issue because most times we all want to buy the deep but we're tired down and not buying the deep because of finance and this alone seems very discouraging.
I also thought of going for a rural enlightenment but I was so discouraged because I realized that people in my rural environment believe more in tye physical things they see rather than just theoretical teachings on a board or on a laptop.
I also understand that the primary knowledge should be first impacted in them before talking about the monetary aspect but I saw the topic and I couldn't agree less.

spectre71

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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.

Frankolala

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Everybody needs bitcoin awareness irrespective of your area or location to help the adoption of bitcoin widely. The people in the rural area are the ones that needs this awareness mostly because they can decide to save the money they gets from the small scale business, and moreover there is always a rich man and business people in rural areas,there are also markets and they sell or lease their lands to strangers or to agricultural investors.

As for their poverty stage,I agree with that but nobody knows tomorrow, a man in the rural area can be rich tomorrow and decide to move to the city,if he is aware on bitcoin he can choose to invest. Just the way we need fiat currency is also the same way we need bitcion because it is a digital currency with a greater benefits when you hodl. People in this rural areas do have savings,as for internet service, it is in the rural area,since every network provider in a country covers both the rural and urban areas,it will only take the network provider s to provide their services there because it will be a competition,the larger their coverage the more money they make.

Apocollapse

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Bitcoin is mostly used for investment except you're live in El Salvador or Central African Republic where you can use Bitcoin as legal tender to buy groceries, pay bills, buy foods etc. This mean even though you're not a rich person, you can use Bitcoin as a currency and don't need to think about the volatility. If you're want to use Bitcoin as investment, of course you must have enough wealth first. It's similar like you want to invest in the other assets.

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