Crypto can help poor nations a lot - page 2.

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Quote from: mirakal on August 02, 2024, 08:51:02 AM

It can help, and it can be a solution, but that doesn't mean this would take everything and help all poor countries if they don't help themselves as well. Crypto remains a tool for improvement, but this only applies to those who want it, not those who wait and relax.

Every leader should take responsibility for the improvement of their economy. Like El Salvador, the president takes risks and struggles before people are proud of his actions. Maybe other countries can do the same to see the fruitful outcomes of inventing crypto, particularly bitcoin. We can't tell if this could help until we try. Who knows exactly if this action will uplift the economic situation of the country?

El Salvador was the first country to accept bitcoin as legal tender but it is still not the only legal currency there, they still use USD as their official currency. In addition, the fact that they have made great strides in improving the country is not because they accepted bitcoin but because president Nayib Bukele has had strong policies in cracking down on crime and reviving the economy in many different ways. If I remember correctly, in the last election, 90% of voters decided to vote for Nayib Bukele because they supported his policy of cracking down on crime because this was the most difficult issue in their country.

In my opinion, to improve a country's economy, the president and the government need to find the causes and weaknesses of the economy and come up with solutions. It is not possible to fix and improve a national economy simply by legalizing a decentralized and volatile currency.

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I can see many people pointing out that cryptos aren't magic and won't solve the problem of poverty on their own and turn around the country's economy. I fully agree with that. Adoption of Bitcoin and/or crypto-friendly economic regulations to encourage investments and businesses can be a part of a comprehensive strategy at best. If there's widespread poverty, we should look at root causes and at what can be done to systemically empower those who are currently worst off. Fighting corruption, providing quality education, and encouraging a business-friendly environment are all likely to be useful if introduced together.

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We know the potential of crypto and how to give profit to those holders but not all people have the chance to buy at least they have different needs so people keep choosing for their daily needs to survive as possible, but we cannot push other people to invest with the crypto, some of them afraid to risk their money to those things they don't know lets accept the fact this always happen even you keep pushing through others its crypto still risk is right there with the volatility. Still on the government how the country will grow.

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Quote from: Obari on August 01, 2024, 01:53:50 PM

The major goal of bitcoin was to help people be absolutely responsible for their money without having any government interference or what so ever.
Over the time, bitcoin has proven itself to be the hope of the common man where everyone who invest wisely is always profitable at the long run and this alone is already going a very long way to improve the society as people are already getting gainfully engaged with it and with the help of the profits, physical projects are carried out which also helps improve the society.

I also read a response from user some time ago and he said something that actually fits in here “people should expect bitcoin to solve non technical problems of country” with this, I think it’s fine to say that, even if bitcoin can make a country grow from poor to rich, it should do it at its pace and not people expecting it solve all human problems.

We all know Crypto were the product of blockchain technology and the concept can be applied in lots of different ways. Blockchain systems can very much help small businesses who's often short of cash and can't afford to borrow money. We knew banks don't lend money in places where fraudulent or easy to fake invoices are common like inconsistent and error-ridden records, so blockchain tech can be the bridge to those concerns as all records must be authenticated. Blockchains also helps individuals' contribution to aid effort or for charity even overseas, so donors can transfer directly for example at bitcoin.

On the contrary it only works on someone who's already in the blockchain system, how about on poor nations who don't have access to it, and only few individuals hold any worthwhile accounts. In the long run, it only makes poverty much more prevalent. Overall shortage would bring about utter environmental destruction and poverty by spending the meagre available resources on mining.

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It can help, and it can be a solution, but that doesn't mean this would take everything and help all poor countries if they don't help themselves as well. Crypto remains a tool for improvement, but this only applies to those who want it, not those who wait and relax.

Every leader should take responsibility for the improvement of their economy. Like El Salvador, the president takes risks and struggles before people are proud of his actions. Maybe other countries can do the same to see the fruitful outcomes of inventing crypto, particularly bitcoin. We can't tell if this could help until we try. Who knows exactly if this action will uplift the economic situation of the country?

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We could see that type of thing with many nations that focuses on freelance working as well. All around the world plenty of nations are now working in the digital world, to help with people who are dealing with something that will take a while to get there, but could make them a lot of money overall.

What we could see with crypto is that it would connect a poor nation with other richer nations, so earning could be a lot better. Making 500 bucks or 1000 bucks could be very low for USA, so a company in the USA could hire someone for 12k a year, which would be impossible to hire there, and that way they would be spending less, and people around the world could make very good income.

I understand that this would be very bad for Americans whose jobs are getting to other nations, or same for Europeans as well, but it is just the way capitalism they love so much works, if you want capitalism then you take it with everything, not just the parts you like. This is why crypto could connect all nations together, helping poor ones to get closer to richer ones, not a lot, I mean they will not suddenly be rich as a nation, but it would at least give the people a chance to live a better life that way.

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The major goal of bitcoin was to help people be absolutely responsible for their money without having any government interference or what so ever.
Over the time, bitcoin has proven itself to be the hope of the common man where everyone who invest wisely is always profitable at the long run and this alone is already going a very long way to improve the society as people are already getting gainfully engaged with it and with the help of the profits, physical projects are carried out which also helps improve the society.

I also read a response from user some time ago and he said something that actually fits in here “people should expect bitcoin to solve non technical problems of country” with this, I think it’s fine to say that, even if bitcoin can make a country grow from poor to rich, it should do it at its pace and not people expecting it solve all human problems.

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Quote from: Smack That Ace on July 30, 2024, 10:54:07 PM

Quote from: Adams0001 on July 30, 2024, 12:29:20 PM

You are completely correct. The government must develop job possibilities before the poor may purchase bitcoin and invest in it; you must have a source of income before you can enjoy bitcoin investment. Because if a country doesn't have money, I don't see how bitcoin will help the poor in the country. Bitcoin is a good investment that anyone who gets the opportunity and invests in it will reap huge benefits if they are patient and true to it. The government should do something to bring income to the poor so that they can do the necessary things. All impoverished people don't have time to invest since they don't have enough to eat. So if the government creates job possibilities for the poor, some of them will try to invest to support their jobs. But, for the time being, even if the government didn't cooperates, I do not see how Bitcoin will benefit the poor you must first obtain funds before investing in Bitcoin.

Frankly speaking, bitcoin has huge potential, but it is just an asset or an investment and to own it we need money.

It's hard to understand when people exaggerate about bitcoin more than necessary, saying that bitcoin can solve problems for a country such as eliminating poverty, unemployment, stimulating economic growth...All of this is not bitcoin's mission nor was it created to fulfill these things. We should be realistic that there need to be many solutions to overcome and develop the country's economy and we need to make more efforts if we want to escape poverty. Don't just rely and think that bitcoin can do everything for us, it is not a panacea for the world.

Countries that need economic growth must be open to new innovations, be it bitcoin or other sectors that can add to the state treasury. The more prohibitions are implemented, the smaller the chances of getting profit from various sources. Bitcoin, gold, stocks, and various sources that generate finances must be welcomed not only for the benefit of the country but also for the benefit of society as a whole, also involved in the growth of the latest innovations.
Like El Salvador, which is open to adopting bitcoin as one part that can have an impact on the country economy and the surrounding community. They are also open to receiving offers from outside in overcoming crime there. The level of crime in El Salvador, which was originally high, has now decreased slightly because the system adopted was based on input from outside and implemented domestically.

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Quote from: Solokan on July 29, 2024, 10:57:35 PM

I agree with your opinion and indeed if we rely on bitcoin to change poor countries into developed countries it will certainly be difficult, because of the fluctuating nature of BTC and of course people will also have difficulty in buying bitcoin or other crypto, especially for poor people and this is the best way. good is as you said, that is, if you want a country to develop, of course the government in that country must create lots of jobs so that with lots of jobs, of course people will get income and if they get income, of course it will make the people's economy good and of course the country will progress because in The country has no unemployment.

and indeed, if society is advanced in economic terms, of course buying BTC won't be a problem because in the real world you already have an income and of course that will make things fundamentally better, of course won't be surprised if something happens to the condition of BTC or other crypto, for example when there are price reduction.

Yes, the point is that being involved in the world of crypto is certainly something that is risky so it is only appropriate to make a profit from crypto as a side job.

Bitcoin's volatility is not the problem, the problem is that bitcoin is just money and to get it we need money. Meanwhile, where will poor people get money to buy bitcoin? So it cannot be said that bitcoin will be useful in helping alleviate poverty or help a country's economy improve.

Bitcoin can help someone improve their economy if they know how to use it properly, but when it comes to improving a country's economy it is not as easy as improving one person's economy.

Honestly, we should stop exaggerating about bitcoin, the things it can do because it is just a peer-to-peer currency. It is not that God comes to fix everything in our world.

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Quote from: Adams0001 on July 30, 2024, 12:29:20 PM

Quote from: Smack That Ace on July 24, 2024, 02:31:15 AM

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You are completely correct. The government must develop job possibilities before the poor may purchase bitcoin and invest in it; you must have a source of income before you can enjoy bitcoin investment. Because if a country doesn't have money, I don't see how bitcoin will help the poor in the country. Bitcoin is a good investment that anyone who gets the opportunity and invests in it will reap huge benefits if they are patient and true to it. The government should do something to bring income to the poor so that they can do the necessary things. All impoverished people don't have time to invest since they don't have enough to eat. So if the government creates job possibilities for the poor, some of them will try to invest to support their jobs. But, for the time being, even if the government didn't cooperates, I do not see how Bitcoin will benefit the poor you must first obtain funds before investing in Bitcoin.

Frankly speaking, bitcoin has huge potential, but it is just an asset or an investment and to own it we need money.

It's hard to understand when people exaggerate about bitcoin more than necessary, saying that bitcoin can solve problems for a country such as eliminating poverty, unemployment, stimulating economic growth...All of this is not bitcoin's mission nor was it created to fulfill these things. We should be realistic that there need to be many solutions to overcome and develop the country's economy and we need to make more efforts if we want to escape poverty. Don't just rely and think that bitcoin can do everything for us, it is not a panacea for the world.

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Quote from: Manila Tanaka on July 23, 2024, 04:41:33 PM

Let's discuss crypto today and how it could help poorer countries enormously.
We all know about crypto, how it is still very new and it is very advanced by technology, but also requires a technical infrastructure which is not available in all poor countries.

It is good that you know that we need technical infrastructure before the crypto currency can be developed in a country. This is supposed to make you think and know that in a country that is poor, do you think their government will have time for crypto currency development, both technically and in other aspects of how it will be adopted by the citizens of that country? The government will rather use the few funds they have to create job opportunities for the citizens of that country.

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It can help to address inequality and improve living standards in poor countries, being of benefit to everyone.

Let’s discuss today about Crypto and how it can extremely help poor nations.

I don't see how the crypto currency will be of help for the poor because, before you enter, you need to have money to start crypto investment, so the poor cannot do this because they may not even have money to meet their needs. So how did you expect this person to think about investment? I believe he will not, so there are many ways that a government can make things good for their citizens. I feel like even if they include crypto, it should be later after they are well developed.

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Quote from: Smack That Ace on July 24, 2024, 02:31:15 AM

Quote from: ThemePen on July 23, 2024, 10:17:06 PM

Quote from: peter0425 on July 23, 2024, 09:25:08 PM

People need to realize that bitcoin will not fix a whole country by itself. The citizens need to have that initiative to buy and hold/trade bitcoin for the betterment of their lives. The government needs to be pro-bitcoin so it can actually help a country get better economically speaking.

But if you want to take advantage of the difference between usd and say any fiat money from any country, then that would be a totally different story.

Hmmmm.. you are right that Bitcoin can not fix country economic problems on its own. People need to take action and use Bitcoin to improve their financial situation. Government also needs to support Bitcoin to help country economy grow. But if someone wants to make money by exchanging USD for other currencies that is different approach. Overall Bitcoin can help country economy if people use it and government allows it to grow but it ca not do it alone.

To be honest, I still haven't figured out how bitcoin will help the country's economy develop even if the government supports it and urges people to use it. Basically to own bitcoin, people need to have money, which means the government needs to create jobs, more jobs and motivate people to work together to create money. From there, everyone's lives will improve and will boost the domestic economy. Meanwhile bitcoin is just a currency or even just an investment asset like gold. Bitcoin doesn't create jobs, can't help attract foreign investment and build domestic businesses...so I don't think if the government supports bitcoin they can improve their economy.

You are completely correct. The government must develop job possibilities before the poor may purchase bitcoin and invest in it; you must have a source of income before you can enjoy bitcoin investment. Because if a country doesn't have money, I don't see how bitcoin will help the poor in the country. Bitcoin is a good investment that anyone who gets the opportunity and invests in it will reap huge benefits if they are patient and true to it. The government should do something to bring income to the poor so that they can do the necessary things. All impoverished people don't have time to invest since they don't have enough to eat. So if the government creates job possibilities for the poor, some of them will try to invest to support their jobs. But, for the time being, even if the government didn't cooperates, I do not see how Bitcoin will benefit the poor you must first obtain funds before investing in Bitcoin.

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Quote from: Swordsoffreedom on July 24, 2024, 05:16:49 AM

Quote from: Solokan on July 24, 2024, 04:03:50 AM

In my opinion there is no guarantee for poor countries to be able to become developed countries because they are involved in crypto and I think it would be more accurate for you to mention bitcoin because in this discussion thread bitcoin maybe you mean bitcoin or not? because in general, in my opinion, crypto is all-encompassing because of course there are various types of crypto.

In my opinion, of course a country has the potential to make progress in terms of the economy if its people invest or are involved in the crypto world, but of course the most important thing is that it must be supported by the government because with the support of the government there will be a smooth flow for people to get involved in the crypto world. but of course in this case it depends on the interest of the community and the extent of the community's insight into bitcoin because of course without the insight that the community has then it is very difficult for the community to make a profit even though they are involved in the crypto world because of course the important thing is profit because if for example they lack knowledge and are involved In the crypto world, it will be very difficult to make a profit and sometimes there are even losses.

But of course, if the government holds a program so that people learn about crypto and blockchain, there will be potential for the economy to progress and the country will have the potential to continue to experience economic improvements.

However, for poor countries that adopt Bitcoin, of course there is at least the potential for the country to experience economic progress.

Whether it is cryptocurrency in general or bitcoin in particular, it will not be able to turn a poor country into a developed country. If we legalized bitcoin and relied on it to turn a poor country into a developed country, I think governments around the world would have done it a long time ago without us suggesting or giving them ideas. The country's economy can only progress and develop when people's lives improve and to do that the government plays a key role, they must find ways to create jobs and bring income to people. Meanwhile, cryptocurrency or bitcoin is just a financial market, so we should stop having the illusion that by simply investing in bitcoin, people can easily improve their lives. Because financial markets have winners and losers, and no market can bring wealth to everyone.

I agree with your opinion and indeed if we rely on bitcoin to change poor countries into developed countries it will certainly be difficult, because of the fluctuating nature of BTC and of course people will also have difficulty in buying bitcoin or other crypto, especially for poor people and this is the best way. good is as you said, that is, if you want a country to develop, of course the government in that country must create lots of jobs so that with lots of jobs, of course people will get income and if they get income, of course it will make the people's economy good and of course the country will progress because in The country has no unemployment.

and indeed, if society is advanced in economic terms, of course buying BTC won't be a problem because in the real world you already have an income and of course that will make things fundamentally better, of course won't be surprised if something happens to the condition of BTC or other crypto, for example when there are price reduction.

Yes, the point is that being involved in the world of crypto is certainly something that is risky so it is only appropriate to make a profit from crypto as a side job.

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Quote from: CryptoHeadlineNews on July 26, 2024, 01:23:23 PM

Even in rich nations of the world, the truth of the fact is that there are still some people living there who are poor, as poverty is not caused by where a person finds himself, but simply by the mentality he has in the place he finds himself, that is, being able to offer solution to problems in exchange for money. So when it comes to the influence of crypto in poor nations, I can truly testify that with the help of crypto, many people have been able to afford a better life either through trading, p2p buying and selling and a general long term investment which we all practice. But moreover, those don't come on a platter of gold, as there has to be government favorable policies to enable people execute crypto transactions successfully.

I completely agree with this view on poverty and how cryptocurrency can help people in poor countries. It is true that even in rich countries there are many poor people. Poverty is not just about that where we live but about your mindset and ability to solve problems and earn money. We know that cryptocurrency has helped many people in poor countries by giving them many ways to trade buy and sell with others and invest for future. But for this to work governments need to have policies that support it. If they do not cryptocurrency can not reach its full potential to improve lives.

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Quote from: Manila Tanaka on July 23, 2024, 04:41:33 PM

Let's discuss crypto today and how it could help poorer countries enormously.
We all know about crypto, how it is still very new and it is very advanced by technology, but also requires a technical infrastructure which is not available in all poor countries.

It is important to have expansion of infrastructure, and when it happens, crypto is also becoming more famous in more and more poor countries.
Because crypto is global and if the standard of living in New York is very high and an apartment there is very expensive, you can get little value from it despite many cryptos. The situation is quite different in poorer countries, where it is very easy to achieve a lot with little money and therefore It's a globally averaged standard where crypto helps poorer countries disproportionately. This is really good and therefore you should promote crypto.

It can help to address inequality and improve living standards in poor countries, being of benefit to everyone.

Let’s discuss today about Crypto and how it can extremely help poor nations.

The question is, can the poor people in these poor nations afford to take the risk of investing in bitcoins? Although some persons may invest in bitcoin but then majority of the people may not be patient enough to earn that money capable of improving their standards of living. Many others out of ignorance will not even consider bitcoin as a thing worth investing in. In countries where there are high levels of illiteracy and ignorance, topics about cryptocurrency will not seem relevant to a lot of the population.

These countries are not poor because they lack what it takes to make the standard of living of their citizens favourable, but because they have refused to explore and make use of the natural resources and opportunities within them. Poor countries should concentrate more on utilising the opportunities they have within them, while those who can invest in bitcoins go ahead to invest.

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Even in rich nations of the world, the truth of the fact is that there are still some people living there who are poor, as poverty is not caused by where a person finds himself, but simply by the mentality he has in the place he finds himself, that is, being able to offer solution to problems in exchange for money. So when it comes to the influence of crypto in poor nations, I can truly testify that with the help of crypto, many people have been able to afford a better life either through trading, p2p buying and selling and a general long term investment which we all practice. But moreover, those don't come on a platter of gold, as there has to be government favorable policies to enable people execute crypto transactions successfully.

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Quote from: Manila Tanaka on July 23, 2024, 04:41:33 PM

Let's discuss crypto today and how it could help poorer countries enormously.
We all know about crypto, how it is still very new and it is very advanced by technology, but also requires a technical infrastructure which is not available in all poor countries.

It is important to have expansion of infrastructure, and when it happens, crypto is also becoming more famous in more and more poor countries.
Because crypto is global and if the standard of living in New York is very high and an apartment there is very expensive, you can get little value from it despite many cryptos. The situation is quite different in poorer countries, where it is very easy to achieve a lot with little money and therefore It's a globally averaged standard where crypto helps poorer countries disproportionately. This is really good and therefore you should promote crypto.

It can help to address inequality and improve living standards in poor countries, being of benefit to everyone.

Let’s discuss today about Crypto and how it can extremely help poor nations.

What I could say is that there are different ways a country can actually be developed or improve their standard of living, if a country can have sensitization campaign on crypto and as well provide employment opportunities to enable it citizens as it requires a good source of income for anyone to invest in crypto considering the fact that one must first ensure that their living expenses are well taken care of including an emergency fund. A poor citizen can not invest in crypto so a country should help it's citizens to increase their financial status.

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Quote from: ranochigo on July 25, 2024, 06:25:25 PM

Quote from: dezoel on July 25, 2024, 01:50:52 PM

Isn't that is what Bitcoin all about? (a speculative asset) and a currency of course. Actually it is a currency as a main but it's just that many people are treating it the other way. I wouldn't blame them because Bitcoin's value is increasing consistently. Who wouldn't want to earn a decent profits easily anyway?

That would be an inaccurate assessment. Bitcoin is a speculative asset because it ticks a few boxes, volatility, investors intent to make quick profits by purchasing and exiting in a short time frame, and are generally non productive assets. You think Bitcoin would increase in value consistently, but that is not guaranteed by anything but it is just an observation from a trend. We should never invest just because it seems like it is a trend.

Bitcoin is a currency, but it is also a speculative asset. They aren't mutually exclusive.

What is Bitcoin , it will all depend on how we use it, we are the ones who decide what Bitcoin is, and it has no right to decide on its own. Some people will use bitcoin as a currency, some will use it as a store of wealth, or an investment...bitcoin is a multi-functional asset, IMO.

Given its volatility , I believe everyone knows it can be used as a speculation but people often don't want to consider bitcoin as a speculative asset because speculation has a lot of risks . They always talk about investing in it for the long term because they want others to do the same to minimize risk .
If we only consider bitcoin's volatility, bitcoin is a purely speculative asset .

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Quote from: Manila Tanaka on July 23, 2024, 04:41:33 PM

Let’s discuss today about Crypto and how it can extremely help poor nations.

Using logic, crypto cannot change the situation from poor to rich. It cannot make poor countries rich as most of them have said here.
Crypto is only a system or familiar with the term digital currency that is used to transact digitally without involving a third party. Because there are so many types, the value and price are also not the same.
Anyone can use crypto and anyone can choose the type of crypto they want with the desired use by anyone who has it.
I just want to say that Bitcoin is Bitcoin and crypto is not necessarily one type.

Topic: Crypto can help poor nations a lot - page 2. (Read 935 times)