Days you need to work your ass at minimum wage for a BTC, by country - page 5.

Plaguedeath

hero member

Activity: 910

Merit: 680

Quote from: hatshepsut93 on July 23, 2023, 05:49:38 PM

You're describing legal immigration, but illegals often barely even know the local language and get employed precisely because they are illegals and might work for below minimum wage and without any extra perks, or even in unsafe working conditions.

Well that's make the immigrant is more harder to survive and get a worthy salary, so illegals or unskilled workers must not travel to developed country.

Quote from: Plaguedeath on July 22, 2023, 11:43:51 PM

What is "best" really depends on individuals capabilities. The truly talented people should move to a country with the best opportunities like the US, because even though the cost of living might be high, the net gain would still be worth it. For others freelancing is indeed the best choice. But even being a good enterprenuer in a developing country could be more profitable than that.

Of course "best" is depends on individuals, but we should refer to ordinary people where they're not the best in something, they're just either enough or near enough. What do you think about those mediocre people who want to get better salary? it's working on McDonald is enough to change someone life from poor country?

BlackHatCoiner

legendary

Activity: 1512

Merit: 7340

Farewell, Leo

Besides not using that money and living with God knows what as you're saying, you also have to assume that:

the minimum wage will not change (lol).
you will still be working at the same place (double lol!).
the bitcoin price will not change until you manage to accumulate one (triple lol!).

Also, in Greece the minimum wage is 780 EUR, so I'm not quite sure how you calculated 1,018 days. I find more than 1,150.

Wind_FURY

legendary

Activity: 2898

Merit: 1823

Quote from: stompix on July 19, 2023, 06:48:48 PM

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Luxembourg
Australia
New Zealand
Germany
United Kingdom
Ireland
Netherlands
France
Canada
Monaco
Belgium
San Marino
South Korea
Israel
Austria
Slovenia
Spain
Japan
United States of America
Andorra
Taiwan
Malta
Lithuania
The Bahamas
Poland
Greece
Oman
Hong Kong
Macau
Portugal
Saudi Arabia
Argentina
Barbados
Slovakia
Czech Republic
Romania
Estonia
Latvia
Croatia
Palestine
Saint Kitts and Nevis
Montenegro
Hungary
Antigua and Barbuda
Palau
Costa Rica
Turkey
Bulgaria
Belize
Ecuador
Jordan
Lebanon
Uruguay
Chile
Trinidad and Tobago
Marshall Islands
Bolivia
Paraguay
Morocco
Bosnia and Herzegovina
Guatemala
Colombia
Panama
Albania
South Africa
El Salvador
Serbia
Turkmenistan
Seychelles
Gabon
Vanuatu
Fiji
Thailand
Mexico
Dominica
Brazil
Peru
Ukraine
Philippines
Equatorial Guinea
Malaysia
Russia
People's Republic of China
Dominican Republic
Mauritius
Indonesia
Azerbaijan
Honduras
Republic of Macedonia
Kosovo
Saint Vincent and the Grenadines
Jamaica
Kuwait
Cambodia
Papua New Guinea
Iraq
Guyana
Tunisia
Republic of the Congo
Botswana
Moldova
Armenia
Algeria
Mongolia
Laos
Vietnam
Comoros
Nepal
Nicaragua
East Timor
Chad
Pakistan
Iran
Libya
Uzbekistan
Haiti
Mauritania
Lesotho
Solomon Islands
Nigeria
Benin
Afghanistan
Central African Republic
Kazakhstan
Ivory Coast
Cameroon
Togo
Burkina Faso
Kenya
Eswatini
Myanmar
Senegal
India
Angola
Niger
Mali
Bhutan
Sri Lanka
Zambia
Sierra Leone
Mozambique
Ghana
Uganda
Guinea-Bissau
Madagascar
Malawi
Tajikistan
The Gambia
Democratic Republic of the Congo
Bangladesh
Tanzania
Kyrgyzstan
Syria
Cuba
Sudan
Venezuela

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1,018
1,067
1,091
1,098
1,102
1,141
1,223
1,239
1,257
1,261
1,265
1,387
1,543
1,548
1,568
1,579
1,714
1,718
1,733
1,755
1,782
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2,055
2,373
2,632
2,690
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2,823
2,867
2,952
2,983
3,000
3,033
3,193
3,336
3,373
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3,401
3,528
3,554
3,746
3,807
3,831
3,862
3,922
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4,138
4,145
4,191
4,314
4,471
4,497
4,525
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4,549
4,559
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4,704
5,249
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5,434
5,475
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5,665
5,815
6,128
6,162
6,190
6,322
6,882
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7,185
7,271
7,935
8,436
8,495
8,774
9,367
10,519
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12,659
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16,246
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17,776
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25,704
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29,122
41,165
41,321
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49,773
51,651
52,392
67,593
114,063
248,864
842,308
1,095,000

Compare with the countries with the highest inflation rates and notice the numbers in Venezuela, Sudan, and Syria.

Quote

Top 10 Countries with the Highest Inflation Rates (Trading Economics Jan 2022)

Venezuela — 1198.0%[/b)
Sudan — 340.0%[/b]
Lebanon — 201.0%
Syria — 139.0%[/b]
Suriname — 63.3%
Zimbabwe — 60.7%
Argentina — 51.2%
Turkey — 36.1%
Iran — 35.2%
Ethiopia — 33.0%

https://worldpopulationreview.com/country-rankings/inflation-rate-by-country

It doesn't only show that people in countries with the lowest minimum wages take longer to accumulate until they have one whole Bitcoin, it also shows that if you live in one of these countries, you SHOULD own Bitcoin as a store of value.

rikybrosh

full member

Activity: 477

Merit: 100

people who only have fixed income in minimum wage maybe live in low quality life, but it's depend on each country. some people may need to buy cheap daily necessities although the quality is low in order save money to buy something that they need beside of daily necessities. for example maybe they need to buy smartphone, laptop or vehicle. it seems that it is so difficult for them to have a BTC, even buy some satoshi is not so easy for them. but at least they have a job. maybe the answer is to take bigger risk in trading, although join pump and dump market may make them lost their money but it is also provide them opportunity to grow their money, maybe at least in altcoin trading they can earn 3% - 17% profit in day trading depend on their skill. of course they may lost 3% - 17% as well. knowledge is really important.

dansus021

copper member

Activity: 2156

Merit: 983

Part of AOBT - English Translator to Indonesia

Damn my country got rank 86 with 4,471 days Shocked

of working 12.2 Years damn My age would be 37 to have single bitcoin Roll Eyes

and dont forget about the price because bitcoin keep rising so gaining single bitcoin would be hard as fu*k Grin

I just hope can have a single Bitcoin in my life Grin

it seems impossible for now to get one.

Tho in the past, I can accumulate more than 5 when bitcoin is only 400$ now it woule be very very hard to get one

erep

hero member

Activity: 2282

Merit: 589

Quote from: hatshepsut93 on July 22, 2023, 06:30:10 PM

When you throw away all the context - PPP, median wages, costs of living, rent prices, transportation and so on, your list just reflects the nominal GDP of countries.

Actually calculating only nominal GDP is ineffective because the calculation ignores all expenses for living expenses, bills, transportation and others, rationally they have to add up 2x the number of days needed to buy 1 btc of the minimum wage each month, the risk of a low minimum wage will be difficult to allocate funds for savings and even they have to go into debt to meet living expenses for the next half of the month.

The majority of workers who can invest in crypto have additional work so they have large savings to invest, but if we live in a high minimum income country we can invest half of our monthly income or at least every 2 months for investment if we have income from other additional jobs.

carlfebz2

hero member

Activity: 2926

Merit: 722

DGbet.fun - Crypto Sportsbook

Quote from: davis196 on July 21, 2023, 12:33:45 AM

That's some pretty useless statistical data if you ask me. Grin

What's the point of busting your ass working on a minimum wage for the sake of earning one whole Bitcoin? Can't you just earn 0.1 BTC? Grin

Will you consider your life to be truly accomplished after earning that one whole Bitcoin? Grin

Why don't you invest in yourself, gather some skills and get jobs, that are paying a higher salary? Why don't you try to build a business? Working on a minimum wage is the definition of wasting your life, while being an underpaid slave. Countries that have low salaries also have low cost of living, so it's not accurate to compare the minimum wage in different countries without calculating the purchasing power parity(PPP).

Those are assumptions basing up on such condition and not really trying out to apply on just relying with your minimum wage income on getting a whole coin which we know that its never been that simple nor cant just be even possible.Its true that we could be able to accumulate or get 0.1 instead of a whole coin or simply could purchase or buy on satoshis which is something that much lesser than on a whole coin and at the same time you arent that stressing yourself that much.

Just like some people been saying that numbers wont really be that precise or accurate considering that there are factors like expenses or others which it would really be totally lessening out the overall amount
for you to be able to buy a certain amount of coin and there are unexpected things happen about spending which it would greatly affecting those numbers but in overall
on assuming that there would be no such deductions then those would really be that somewhat considerable.

hatshepsut93

legendary

Activity: 3038

Merit: 2162

Quote from: Plaguedeath on July 22, 2023, 11:43:51 PM

I don't think it's possible for unskilled worker to immigrate to the competitive country, they must be skilled in foreign language first. If they only have hard work, discipline and willing to be paid with minimum salary, it's not enough as there's a problem with the communication.

You're describing legal immigration, but illegals often barely even know the local language and get employed precisely because they are illegals and might work for below minimum wage and without any extra perks, or even in unsafe working conditions.

Quote from: Plaguedeath on July 22, 2023, 11:43:51 PM

With the current modern era, I think the best is you live in your country or somewhere that has a low lifestyle and become a freelancer that your client are from foreign country. This make you get a high payment with a low spending.

What is "best" really depends on individuals capabilities. The truly talented people should move to a country with the best opportunities like the US, because even though the cost of living might be high, the net gain would still be worth it. For others freelancing is indeed the best choice. But even being a good enterprenuer in a developing country could be more profitable than that.

doomloop

hero member

Activity: 2408

Merit: 584

Quote from: 20kevin20 on July 20, 2023, 01:32:08 PM

The difference is crazy between Venezuela and Luxembourg! It’s around 3000 times difference, it’s just crazy to think how little Venezuelan people are working for. Crazy how a Hong Kong resident has to work 1 day and a Venezuelan resident has to work 100 days for the same amount of money. Blows my mind! And makes me think more about how privileged I am to work in a country where working for a dollar doesn’t require a lot of effort. It’s a privilege afterall.

That was indeed crazy but I think people on that country doesn't know a thing if how can they escape their faith so they just go with the flow. If we are truly concerned about them then maybe we can do something? But, that's just how it goes sometimes. There are always people or countries who are poor and then there are rich.

Life is truly unfair. If we are on the comfortable side, we should be grateful and don't complain anymore. The effort that we exert to earn won't only depend on the country we are living but it can also depend on the nature of our job but what was your job anyway and which country do you live? I'm just curious to know it.

Plaguedeath

hero member

Activity: 910

Merit: 680

Quote from: hatshepsut93 on July 22, 2023, 06:30:10 PM

When you throw away all the context - PPP, median wages, costs of living, rent prices, transportation and so on, your list just reflects the nominal GDP of countries. It doesn't even answer the question of "which country is the best to immigrate to as an unskilled worker to earn 1 BTC". The best way to get 1 BTC is to get a lot of fiat first, and how to do that is something that everyone has to figure out themselves, because everyone is in a different country and has different starting conditions.

I don't think it's possible for unskilled worker to immigrate to the competitive country, they must be skilled in foreign language first. If they only have hard work, discipline and willing to be paid with minimum salary, it's not enough as there's a problem with the communication.

With the current modern era, I think the best is you live in your country or somewhere that has a low lifestyle and become a freelancer that your client are from foreign country. This make you get a high payment with a low spending.

Darker45

legendary

Activity: 2576

Merit: 1860

Quote from: qwertyup23 on July 22, 2023, 06:48:22 PM

Quote from: Darker45 on July 19, 2023, 07:09:27 PM

~snip~

This is the reason on why majority of our countrymen flee to other countries in order to look for a bigger opportunity.

Imagine, in our current minimum wage, there is just not enough to both feed our families and save for other things as well. The minimum wage is so low to the point that it is more than difficult to imagine living and saving at the same time. Unfortunately, the standard MW is considered "high" for our standards given that majority of our people are still being paid below the MW.

I just really hope that our economy at least improves in the next couple of years. With the government being so corrupt, no wonder that our country has gone from bad to worse in just a few years.

I read through the responses and while our minimum wage is indeed low, there are other countries that have much lower. Pakistan, for example, has only $5 a day. Nigeria has $1.28 a day. Indonesia probably is only slightly higher than us.

I think one of the big problems here is that while we have a low minimum wage, we actually have relatively expensive goods and services. The cost of living in some urban cities here is so high you can't survive with a minimum salary. As a matter of fact, one of our cities is in the top 20 most expensive cities in the whole of Asia, higher than Macao or Xiamen, for example.^[1] Another city is more expensive than more developed ones like Jakarta, for example, or Kuala Lumpur.^[2]

However, lest it be misunderstood, in reality minimum wage doesn't actually determine how long will you be able to accumulate 1BTC.

[1] https://www.google.com/search?q=most+expensive+cities+in+asia
[2] https://www.windowseat.ph/expensive-cities-in-southeast-asia/

qwertyup23

hero member

Activity: 2268

Merit: 789

Quote from: Darker45 on July 19, 2023, 07:09:27 PM

I don't know where you got these data, but in the Philippines, the latest standard minimum wage is ₱570 to ₱610.^[1] There are variations, of course, like whether you belong to the agriculture sector, or you are working in a business establishment employing less than 15 or 10 persons only, or you are from a different region, and so on.

Supposing it's ₱610 and the price of BTC in PHP right now is ₱1,635,564.73, a minimum-wage worker would only be working approximately 2,681 days to achieve 1BTC. That would be more than 7 years.

[1] https://pia.gov.ph/news/2023/06/30/ncr-wage-board-grants-php40-hike-in-the-daily-wages-for-private-sector-workers#:~:text=NCR%2D24%20on%2026%20June,or%20less%20workers%2C%20and%20manufacturing

This is the reason on why majority of our countrymen flee to other countries in order to look for a bigger opportunity.

Imagine, in our current minimum wage, there is just not enough to both feed our families and save for other things as well. The minimum wage is so low to the point that it is more than difficult to imagine living and saving at the same time. Unfortunately, the standard MW is considered "high" for our standards given that majority of our people are still being paid below the MW.

I just really hope that our economy at least improves in the next couple of years. With the government being so corrupt, no wonder that our country has gone from bad to worse in just a few years.

hatshepsut93

legendary

Activity: 3038

Merit: 2162

When you throw away all the context - PPP, median wages, costs of living, rent prices, transportation and so on, your list just reflects the nominal GDP of countries. It doesn't even answer the question of "which country is the best to immigrate to as an unskilled worker to earn 1 BTC". The best way to get 1 BTC is to get a lot of fiat first, and how to do that is something that everyone has to figure out themselves, because everyone is in a different country and has different starting conditions.

panganib999

hero member

Activity: 1750

Merit: 589

Quote from: davis196 on July 21, 2023, 12:33:45 AM

That's some pretty useless statistical data if you ask me. Grin

What's the point of busting your ass working on a minimum wage for the sake of earning one whole Bitcoin? Can't you just earn 0.1 BTC? Grin

Will you consider your life to be truly accomplished after earning that one whole Bitcoin? Grin

Why don't you invest in yourself, gather some skills and get jobs, that are paying a higher salary? Why don't you try to build a business? Working on a minimum wage is the definition of wasting your life, while being an underpaid slave. Countries that have low salaries also have low cost of living, so it's not accurate to compare the minimum wage in different countries without calculating the purchasing power parity(PPP).

C'mon dude you know it's not supposed to be taken at face value Sad

I'm thinking this just paints a clear perspective of how fucked some countries are economy wise. With some of them even going so far as 3000 years Lol what the flying fuck Venezuela. But I digress. I think as I said it paints a nice perspective of how things are going on certain countries in a baseline that we could all understand which is bitcoin. With this in mind we're able to see just how drastic the difference is between countries like Luxemburg and Australia, compared to Venezuela or any other country in the bottom floor. While it doesn't pose any clear solution as you are trying to say here, I'm thinking to some people seeing this is more than enough reality check to see how fucked they are country-wise you know.

acroman08

legendary

Activity: 2534

Merit: 1115

Quote from: stompix on July 19, 2023, 06:48:48 PM

156

Venezuela

1,095,000

working for 1,095,000 days on a minimum wage to be able to buy Bitcoin?! damn, is it even worth working for a company that pays in local currency in Venezuela? Their currency really collapsed. I can't fathom how it feels to work hard for money that basically worth nothing.

Quote from: Darker45 on July 19, 2023, 07:09:27 PM

I don't know where you got these data, but in the Philippines, the latest standard minimum wage is ₱570 to ₱610.

I rarely watch the local news now. I'm glad they finally decided to increase the standard minimum wage, especially with this crazy price increase on every product. last time I worked for a company the minimum wage was still around ₱400+

Lorence.xD

sr. member

Activity: 1624

Merit: 315

Leading Crypto Sports Betting & Casino Platform

I thought I wouldn't see Philippines as part of this list. Imagine working your ass off at 3k+ day just to afford an investment to Bitcoin. I mean it's true that you can start at low value first but those minimum wages of an average person doesn't still included the everyday needs such as foods, shelter, clothes and etc. To be honest, the earning I could get in crypto is almost the same to an average person. But the difference is huge, you would spend all your time working with needing a strong mental and physical since work is not easy here. Worse if you applied to a toxic environment it will drain you super.

justdimin

hero member

Activity: 3220

Merit: 678

www.Crypto.Games: Multiple coins, multiple games

Quote from: Z390 on July 21, 2023, 05:56:00 AM

In my country what some people made every month is going to be enough for rent fee only, no extra food buying opportunity or hospital bill, now things are even getting more difficult, you treat typhoid now costs a lot and many start boiling water and avoiding road side food to avoid getting sick, just pray you are in good health or else you are in a big problem, everything health care costs a lot.

The only option left is to learn a skill that will pay your bills and also keep you alive through medical bills and checkup, the problem is the country situation but the bigger problem is your monthly income or source of income.

Unfortunately that is true for many cities all around the world. Rent is not nation based but more like city based because even from city to city it changes which means that we are going to end up with a situation where people will pay a lot of rent in one city of a nation but on another city of that nation it could be cheap. In my country, the three biggest cities have rent so high that the average salary is literally lower than the rent in those cities. Think about it, an average salary is not enough for just rent.

Of course people work more and bigger jobs, sometimes two jobs, and thanks to that they survive but it's a tough deal. I am in one of them, and thank god I own my house, otherwise I would be poor right now.

DoublerHunter

hero member

Activity: 2590

Merit: 644

Quote from: South Park on July 21, 2023, 05:22:46 PM

Quote from: 20kevin20 on July 20, 2023, 01:32:08 PM

The difference is crazy between Venezuela and Luxembourg! It’s around 3000 times difference, it’s just crazy to think how little Venezuelan people are working for. Crazy how a Hong Kong resident has to work 1 day and a Venezuelan resident has to work 100 days for the same amount of money. Blows my mind! And makes me think more about how privileged I am to work in a country where working for a dollar doesn’t require a lot of effort. It’s a privilege afterall.

It also tells you how mismanaged is Venezuela in general, Venezuela has oil and many other natural resources, nice weather and hard working people, however just because of yet another social experiment politicians played with the lives of millions only to be proved wrong once again, so when taking everything into account it is not surprising there is such a disparity between a country that is adequately administrated and one that is a complete disaster.

^As I heard this before Venezuela was the poorer country in all countries and you are very much money if you have BTC there because that is a lot compared to the dollar value. But you are both right, it is evident that Venezuela's mismanagement is reflected in various aspects of the country. Despite its abundant natural resources, favorable climate, and industrious population, the nation has faced significant challenges due to the consequences of political decisions. It is disheartening to witness how politicians conducted social experiments that negatively impacted the lives of millions of people. These misguided policies have repeatedly proven to be ineffective, exacerbating the disparities between well-administered countries and those facing complete disasters.
By the way, the OP data is a good comparison of which country BTC is good to convert, it is Venezuela.

South Park

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Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: 20kevin20 on July 20, 2023, 01:32:08 PM

The difference is crazy between Venezuela and Luxembourg! It’s around 3000 times difference, it’s just crazy to think how little Venezuelan people are working for. Crazy how a Hong Kong resident has to work 1 day and a Venezuelan resident has to work 100 days for the same amount of money. Blows my mind! And makes me think more about how privileged I am to work in a country where working for a dollar doesn’t require a lot of effort. It’s a privilege afterall.

It also tells you how mismanaged is Venezuela in general, Venezuela has oil and many other natural resources, nice weather and hard working people, however just because of yet another social experiment politicians played with the lives of millions only to be proved wrong once again, so when taking everything into account it is not surprising there is such a disparity between a country that is adequately administrated and one that is a complete disaster.

tbct_mt2

hero member

Activity: 2366

Merit: 838

Quote from: KiaKia on July 21, 2023, 11:28:36 AM

There is nothing wrong with this, it just shows that some countries are better to live in and make a living for yourself, you will be able to survive and invest if you are in Australia than Venezuela, I like this whole concept and I thank OP for creating it, very interesting to me, even with 0.1 BTC, that will be hell for people in Venezuela to get still, compare to someone living and working in the U.K, this just show that if your country sucks very bad it can affect your future too, no wonder my country people are running out to Australia and the United Kingdom, I would have done the same but my payment are always in dollars, so I am doing better than those that are getting paid in Fiat currency in my country.

You must consider that in nations where average salary is high, they will have to spend higher expenses so they will not save too much money after spending. If in a low income countries, we receive such high salary, we will have big savings and can use it for Bitcoin investment.

However in high income country, what you can save from that same salary will be lower. It can affect capital for investment but seriously, people in high income countries have better chances to have 1 bitcoin as investment from their money.

Topic: Days you need to work your ass at minimum wage for a BTC, by country - page 5. (Read 1479 times)