Topic: Do you think Bitcoin can end poverty? In a nation today (Read 1760 times)

I think it is appropriate and BTC is also one of the easiest and simplest investment options, it is not too difficult to invest here. Especially if you want to invest long term. Now. What's difficult is when we just hear about it and don't start immediately and I think that's the initial difficulty because prices are considered high and vulnerable to bad news, especially when a market correction occurs, even though in reality it's just an issue created to make the market panic.

Logically poor people will not be able to buy large amounts of Bitcoin to make a profit so I think the answer is clearly not to be able to end poverty because of Bitcoin but for those who don't want to be poor in the future Bitcoin could be a solution for investment for the future profitable.
I think one should not look too much at Bitcin, investing in Bitcoin is indeed profitable but what must be remembered is that the risk will also be worth it with all the possible benefits.

People who are involved in online or cryptocurrency (especially bitcoin) activities and can earn significant amount of money from it play a very active role in social work. Since Bitcoin or Cryptocurrency is a technical subject, not everyone can come under its access now but maybe it will happen very soon by my faith. Therefore, if most or almost all of the younger generation can get involved with Bitcoin it will continue to rapidly change society.

Poverty is a complex issue, and Bitcoin alone cannot eliminate it. However, it could be one tool in the fight against poverty, although its potential remains largely theoretical.

Bitcoin might help by providing financial access to the unbanked, especially in areas with limited banking infrastructure. It could also facilitate cheaper, faster remittances for migrant workers, and act as a hedge against inflation in regions with unstable currencies.

However, access to Bitcoin and the technology to use it remains a significant barrier, especially for those in extreme poverty. Additionally, Bitcoin's high volatility makes it an unreliable solution. Relying on price increases for poverty alleviation is risky and unsustainable.

Guy you are right, Bitcoin can not play a direct role to remove poverty in a country. People need to own Bitcoin before they can make profit when the price starts to rise and to own Bitcoin, you need to buy it or work online to earn it and if there is no knowledge about working online to earn Bitcoin, the primary way to get it is through buying and if a person is poor, how can they buy Bitcoin? If someone is poor, they need money to buy other important needs and not to buy Bitcoin.

That would depend, is that person someone that was able to buy bitcoin back when it was still around a dollar apiece? If not then I don't think that bitcoin alone would make you get out of poverty, think of bitcoin as just one of your tools to create your own key to the success. That's not something that you should focus alone, that's going to make you miss out on the other opportunities that would otherwise made your journey out of poverty more easier. Bitcoin will help people but you got to remember that saying about teaching a man to fish, bitcoin is just one of the fish that you give to the man but it's not the way to get more fish.

Poverty is a social problem and I don't think Bitcoin can play a direct role in alleviating the problems of those who are poor in our society (I could be wrong) because to those who live below the poverty line directly converting them by bitcoins would seem like poor horse sickness. The poverty rate can be gradually reduced through the economic development of the country by Bitcoin. But yes many people have revolutionized their economic development through Bitcoin.

Op I don't understand want you mean by bitcoin has helped the poor.First can a poor person invest on Bitcoin, bitcoin investment requires sufficient money to invest and a poor person is someone who doesn't have sufficient fund to live a comfortable life so how then can he invest on bitcoin,so when you mentioned poor it got me confused, anyways many people have benefited from bitcoin.

Yes, Bitcoin has the capacity to end poverty in certain countries and for certain people. But, poverty cannot be completely eradicated. "The poor always be around ". It's not possible for everyone in the world to be rich, circumstances differ and while some people are desperately looking for opportunities to be rich, some others don't even want to be rich. Poverty can be reduced to a sustainable level to call it the growth and development of a country, but I don't think there's a country where every single person living in it is even at least able to take care of themselves. Everywhere you go, you will always find a few people who can't afford or spend over $1 a day.

So, in as much as Bitcoin may actually have the capacity to eradicate poverty in some countries, a lot of people stop themselves from being rich.

The purpose of bitcoin is just the same with fiat currency. So by logic, whatever the fiat currency is serving to people is the same with btc. It means, people need to work and not rely on the hope that btc will give them high profits at a short period of time. This is the misconception of most newbies or noncrypto users, they thought it is too easy to make profit in this market. But once they got involved, they would understand that there's more than meets the eyes to their targets.

The notion that they can easily get rich on this market is owed to the high volatility of btc. However, it depends on your strategy how you can make profit as the entry and exit points vary from one person to another.

Bitcoin is not made to eradicate poverty but it is made as a currency so it is because of our own reasoning and the understanding that made us to think that bitcoin come eradicate poverty or bitcoin can make you Rich we should ask ourselves that a Fiat currency has he made us rich or has he met us for all these things can create a good impact in you when you take a good step to make them to work for you so investing in Bitcoin can make you to be rich can also make you to be poor this is the two things that is involved when you profit in your investment you'll be rich when you lose you will also go back to your step

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.

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.