Topic: Do you think Bitcoin can end poverty? In a nation today (Read 1622 times)

This is something that should really be on peoples mind is on realizing that this isnt something that could make you rich once you do get involved with it. It still matters on how much you had invested into it on which it would really be that so normal that you would really be that becoming rich basing up on the things that you've been doing and not that something that you will become one without doing something.
This is really that a very wrong misconception for most people in regarding into this situation about thinking if they would be dealing up with crypto they could really be able to get rich or ended up on poverty situation which it is really just that so wrong with this kind of approach. This is why people would really be getting disappointed on the time that they would really be facing up some issues or losing money with their
investment on whom they've been having those kind of thoughts that they would really be able to save up themselves in this regard on which it is really that so wrong with that kind of approach.

I really want to know how is El Salvador doing in a decade, that would be the example

Although, I can't categorically say that Bitcoin can end poverty because not everyone can ever have access to it due to its involvement in typing, reading and posting. But still Bitcoin' movement is very rapid in the world today despite the level of ignorant population of masses.
a lot of people are making money from Bitcoin and diverting it to another investment. some have married, some feed their family with the money made from Bitcoin. some pay their school fees, house rents and bills. Many people have in the society today depends totally on Bitcoin for their livelihood.
To me, I think not the value of Bitcoin that matters, it's the ability of those that will participate in it. especially Africa that you mentioned, The level of technological ignorant is very high in the continent.


For you, I strongly stay by your side. because even me, I don't think it can do that. A lot of people stay and live in rural areas where there's no network connection to even make calls talk less of browsing internet. Except if government is in support of cryptocurrency transaction, Bitcoin can not eradicate total poverty. But if government support it then, you will see that it will provide access to those living in a very interior rural areas. And those that have gotten access and means to it will be doing freely and comfortably.

Bitcoin can help people get out of the economic downturn, but it depends on how people can invest. Poverty is always associated with a lack of financial balance and it is impossible for poor people to invest in bitcoin because they are thinking about how they can eat for the day. Bitcoin is not able to eradicate poverty completely, especially for most people in poor countries and it is impossible for that to happen.

It is much more rational when the country starts to open up sources of employment for the people so that with a stable income they can invest. Poverty is a big problem for the country and it is not easy to eradicate poverty when the country is not present to provide employment opportunities for its people. It is this difficulty that the state needs to think about and they must provide easy access to work.

Waiting for the government to solve poverty? They try, sure, but real change...lasting financial freedom... that's on us. It's about finding the courage inside to build something for ourselves. Now, Bitcoin. People hype it as this liberation from government control. It's got potential, but don't buy the fantasy that Bitcoin will magically make you rich. it will only occur for a few people

Fact is, this whole idea of "financial freedom"...it's messy. Nothing in life is guaranteed, especially money. We're all figuring it out as we go. No one thing (government, cryptocurrency, nothing) is suddenly going to fix everything. It's on us, every day. We have to learn the game, take smart risks, adapt when things get crazy. That's the only path forward

Financially stable isn’t the word to use there. Investing in Bitcoin is like a gamble. While it isn’t like the normal gambling where you can lose everything, it has its risk. I don’t think you should invest in Bitcoin if you want to be financially stable but instead if you can risk the volatility to make some money. If you are aiming at financial stability i think it’s best to focus on getting a job or opening a business so you can have an assured “stable” income.

It's truly that government is responsible for the eradication poverty in a nation to an extent where they have to provide the requirements of the state for effective productivity. But it's an individual responsibility for one to be financially free.

There is a very big misconception about bitcoin, bitcoin is a freedom currency as it's decentralised in nature which means it's not controlled by any government as the fiat of a country but where a lot of people get it all wrong is were they believe that bitcoin is financial freedom in a perspective that after having bitcoin you're probably not going to need work but bitcoin will keep raising and making them rich whereas bitcoin is an alternative money which means you have to work hard to earn it or exchange it for your earned fiat.

So for bitcoin to be the speculated financial freedom one must investment in it, so it's not an a national problem for bitcoin to solve rather it's a personal financial freedom race not a nation financial freedom race.

What you say is very true, of course, to be able to eradicate poverty, of course the government must think of effective ways that can solve the problem of poverty in society, but for some people who already understand how to invest in Bitcoin, of course this will be a little helpful for those who have invested in Bitcoin, because we can see from the current development of Bitcoin that its price continues to increase and anyone who can invest will of course be able to make them more financially stable in their future.

Bitcoin is a very valuable asset and to be able to own it we need money and even a lot of money, bitcoin is not created and distributed for free. It's funny that he said that bitcoin is helping 1.7 million people in his country escape poverty. Not to mention, bitcoin is a highly volatile investment and most people lose money investing in it, not too many people make profits from it. So, it would be a lie to say that bitcoin is helping alleviate poverty.

To reduce poverty in a country, that country needs to create jobs for its people and help them generate income, thereby ensuring their living needs and poverty will gradually be eliminated. It is not that we rely on risky speculative assets to solve the country's poverty problem.

How can you be sure that bitcoin can solve the problem of poverty throughout the world or only in a small area in your country. Bitcoin is independent and run by individuals for the investment and trading process, so there are opportunities that we can use to solve the problem of poverty. Poverty can be interpreted as a step in which financial difficulties are experienced by people and they are unable to meet life's needs in the process. So how can people who are in poverty try to invest and trade when it is difficult to meet their living needs?

It is impossible for poor people to invest and even if there were, maybe they would not be poor but would not have much money. The mindset of poor people is not how they invest, but how they can eat for today or tomorrow. There is no opportunity for poor people to invest because the availability of money limits them from getting involved.

Exactly. Even giving people free Bitcoin doesn’t mean they’ll come out of poverty. Because there’s a difference between wealth and riches. When you give someone Bitcoin they are just rich. It’s the same as giving them money anyway, because they’ll rush right away to spend it on their various needs, etc. the government needs to apply different strategies to eliminate poverty, and on that list, there won’t be Bitcoin.

This is just the real thing.  The purpose why we have bitcoin is not to put poverty to an end. The purpose for bitcoin is to help people who already have source of income to be financially stable.  I don't think giving people free bitcoin will even end poverty,  it is either they misused it. The fight against poverty is not about currency but this is about individuals and economy.  The economy of a country can affect people and make them to be poor, the way people handle things can also make them to people.  If the government can do the right thing which is going to have good impact on economy and if people can also stand on their ground to do things the right way it can also put an end to poverty.

The only possible reasons that considered out on ending up poverty with these conditions;

1. Finding up an old wallet with tons of Btc inside it
2. Investing huge amount when its still that low in price
3. Earning up Bitcoin with your side online jobs

With these things then you could make yourself that having that good financial standing but if we do speak about generally about investing into it and become rich then this is a wrong thing or misconception
because we know that everything would really be that depending on how big that you have invested and just like been said that it would be an exemption if you are an early adopter
which there would really be that automatically consider yourself to be put up into a certain rich position once you do able to get those coins in hand but this is really something
that not to be applied to everyone and its true that this isnt something a thing that could make you rich but rather it is really that on the purpose of being a digital money or currency in the first place.

So technically, you’re agreeing with me that it can’t end poverty. Just because some people blow up with Bitcoin based on the price fluctuations doesn’t mean that it will be elevating poverty. Also, the way OP talks about it, it’s not in the sense that you find an old wallet and become rich, it sounds more like intentionally investing in it so you’ll go from poor to rich. Bitcoin was designed to function as a currency. Banking on it to elevate one from poverty may not be a smart decision.

Despite all you said, we can see the likes of Blackrock today investing billions into Bitcoin and encouraging people to buy more and what do you think is the purpose of that? To double their wealth and grow higher than where they are currently but I'm not sure the same goes with a poor person. They don't have the capital to even invest, if it was then that the price was low, they might still have the chance but I'm not sure if that will be possible with todays price of Bitcoin, this is to say that the rich continue to be reach while the poor continue to be poor.

Then when the price used to be low, there are money that would be easier to make with the help of its volatility, imagine having nothing and then you bough $10 worth of Bitcoin in 2012 and you just found you have access to the wallet, there is no way yiu will remain poor after that discovery. I just think that it's right now that Bitcoin is serving it's purpose, you can make money from it if yiu don't have huge amount of money.

Bitcoin can help fight poverty, but its not a get-rich-quick scam. Real transformation takes time. Seeing Bitcoin as a piece of a long-term financial puzzle rather than a lottery ticket is huge. Panic sellers miss the long game. But those with patience, who grasp the broad picture and have the discipline to persevere can actually change things.

I know mindset transformations are hard. People cant be forced to adopt new views. What if we could create a community that values money smartness, patience, and learning? Dude, that smooth, steady shift has great potential. Worth fighting for?

No doubt in your saying as it speak volume in my heart, ordinarily bitcoin has the credibility and capacity to reduce poverty, but eradicating poverty can't be possible because poverty started from the  heart they way you think we determined if you will go out of poverty or not, those who think outside the box and seek knowledge don't suffer poverty.

Example many even have the opportunity to invest on BTC but can't hold for a long time, why because of how the think and such people can't go I out of poverty no matter how Bitcoin ability is the level of knowledge and  how one thinks matters even before investment because you can invest because you lack focus of the future it will appear same with one who don't invest because you lack patient of holding, this can be a factor why Bitcoin can't eradicate but reduce poverty beside nature has it that everyone must not think or work the same way no matter how you force them they will remain constant and refused to move such category can't move away from poverty.

Do you think that dollar can end poverty? Bitcoin is just a currency, and was designed for nothing other than that. Don’t mistake the volatility as an intentional thing wherein you can “invest”. People are investing in Bitcoin but that’s far from its purpose, and the government is likely happy because they don’t want people to understand the power of Bitcoin when used as a currency. Bitcoin can’t end poverty, no currency can

How does this work? Salaries wouldn't change because of bitcoin. And poor people would capitalize with it already if that was a sure thing, or they would move to gold and more stable fait money?

Op might as well have asked if Gold can end poverty, because it has same idea of scarcity. But no, bitcoin might end your personal poverty rich if you had invested in that at right time or will invest in that in right time. But we can't say for sure. Just like people investing in 2010-2023 didn't know for sure. Hindsight it's easy to be financially smart, but reality is quite different.

And there's really no ending of poverty in capitalistic system. It's based on inbalance of power structure. Rich people need poor people to be rich, and they need power and authority to stay in that place. It's an unfair system, and to balance that, it needs governance from government and laws in order to keep rich people in check so that power balance won't turn into pure slavery.

Bitcoin wasn't designed to eradicate poverty so it can't it was created as a decentralized money that is independent from the government and does not have to depend on banks, no where in its whitepaper shows it as a money making machine.

The Big irony is can you invest in bitcoin to get profit out if it, so if you can't then no profit for. But there are ways that a poor person can stack bitcoin up using the DCA strategy confiding his income he might take up to 5 years before he can have a good stash in bitcoin.