Bitcoin isn't a charity company where they have an unlimited money to spread out to the poor people all around the world. If poor people are struggling to feed themselves, how they will have money to buy Bitcoin and hold it at least for the next 2-4 years?
To end poverty they need to work and learn about financial course, investing in Bitcoin isn't only a way to make people become rich. Many people are become rich by start their own business and it has no relation with Bitcoin.
Topic: Do you think Bitcoin can end poverty? In a nation today - page 13. (Read 1622 times)
I concur with some of the other members that poverty cannot be eradicated, only reduced. When you cite your country as an example of where poverty is rife, I disagree with you up to a degree when you claim that Bitcoin can end poverty. They are no longer considered to be in poverty, in my opinion, if they can manage a Bitcoin or investment.
Bitcoin cannot eradicate poverty, because not everyone in the nation can invest, How can a someone who is living paycheck to paycheck invest in bitcoin? Out of 100% of some countries, 60% are poor; therefore, even if bitcoin is introduced to them, they will not take it very seriously because they do not have enough to invest. It is impossible for them to invest when they haven't fed themselves. Bitcoin is not made for people who are incapable of doing it or investing.
For me proverty is not the problem of a person but of the whole nation in my country the eradication of poverty has becomes necessary for the sustainable and inclusive growth of the let state the fate here Bitcoin has helps the poor by Increasin their savings and access to capital also it has help around 1.7million people in my country and also it has also impoverished people to control their investment.
Bitcoin is an investment, and if you want bitcoin to help you improve your finances, you need money to invest in bitcoin, if you don't have money, bitcoin will not help you. To me, bitcoin is like any other investment, which can lift someone out of poverty or make someone poorer if not invested properly. So my point is bitcoin can't alleviate poverty for anyone, you can get out of poverty or not is up to you, bitcoin or any other asset can't decide for you.
I don't think it can end poverty but it's invention has helped. It has made some people financially healthy who got in early and made right decisions. Plus with Bitcoin's invention crypto sector has popped up which has come up with it's own work opportunities.
Bitcoin can end poverty of some people, but not all people.
First, not all people are aware of Bitcoin or at least in every nation like you said. In every country, not all of them knows Bitcoin so how they can be out of poverty with the help of Bitcoin? Aside from that, if there are some who knows Bitcoin, chances are they might not interested on even learning it because they might think that it will be a waste of time for them.
Second, some or let's just say most of the poor people aren't going out of poverty because of their mindset. They don't have a perfect mindset that will make them out of the poor. We know how important it is to have a mindset because that will help you.
There might be some people around the world that turned themselves into a rich person with the help of Bitcoin. Now to answer your question, it will not happen. A poor person will not have spare money for them to invest into Bitcoin.
First, not all people are aware of Bitcoin or at least in every nation like you said. In every country, not all of them knows Bitcoin so how they can be out of poverty with the help of Bitcoin? Aside from that, if there are some who knows Bitcoin, chances are they might not interested on even learning it because they might think that it will be a waste of time for them.
Second, some or let's just say most of the poor people aren't going out of poverty because of their mindset. They don't have a perfect mindset that will make them out of the poor. We know how important it is to have a mindset because that will help you.
There might be some people around the world that turned themselves into a rich person with the help of Bitcoin. Now to answer your question, it will not happen. A poor person will not have spare money for them to invest into Bitcoin.
I have to share with OP about this fact, we are aiming for a balanced life from time immemorial and now the law of birth and destruction and rebirth is like the seasons appearing in the year, the balance It's something I've never really felt worthy of. We are born with many different rights and limitations, the rich and the poor divide people, the thinking of those who are controlled by material things. With BTC I also feel that fairness is the issue raised, however I can repeat this if you don't know it how to help you understand it like I do.
And whether the emergence of bitcoin or blockchain is showing the balance but it takes time to reset everything, one story that I want you to imagine is that you try to imagine yourself as someone who has a lot. Money like Elon, what will you do? And vice versa if you are homeless what do you need to do to save this world?
And whether the emergence of bitcoin or blockchain is showing the balance but it takes time to reset everything, one story that I want you to imagine is that you try to imagine yourself as someone who has a lot. Money like Elon, what will you do? And vice versa if you are homeless what do you need to do to save this world?
It has been said for many years bitcoin has a strong potential to elevate standard of living for a global 4 billion unbanked demographic. Who can not qualify for conventional bank accounts.
I think to some degree, many have observed this in their personal lives. Which is how crypto has come to have such a strong and loyal following worldwide. Mass adoption is rising quickly due to people seeing firsthand the positive circumstances surrounding it. As well as the future potential to elevate standard of living for all.
Ending poverty is a completely different conversation. First we would observe, study and define poverty and all the circumstances which cause it. Then devise a plan to abolish it. For whatever reason, this never happens.
I think to some degree, many have observed this in their personal lives. Which is how crypto has come to have such a strong and loyal following worldwide. Mass adoption is rising quickly due to people seeing firsthand the positive circumstances surrounding it. As well as the future potential to elevate standard of living for all.
Ending poverty is a completely different conversation. First we would observe, study and define poverty and all the circumstances which cause it. Then devise a plan to abolish it. For whatever reason, this never happens.
We are very optimistic about how bitcoin will change or have a greater impact in a nation economic. It could great jobs only for people that blockchain technology, it could reduce the cost and time of transacting with people in other parts of the country without passing through the rigorous regulators by the government or banks. But one thing it can’t do is save a nation from poverty. Only a means of getting income can do that. And with bitcoin you need an income to buy and save your bitcoin. You can’t definitely ask someone that needs to feed from hand to mouth to invest into bitcoin and allow it grows into profits
For me proverty is not the problem of a person but of the whole nation in my country the eradication of poverty has becomes necessary for the sustainable and inclusive growth of the let state the fate here Bitcoin has helps the poor by Increasin their savings and access to capital also it has help around 1.7million people in my country and also it has also impoverished people to control their investment.
I wonder how Bitcoin can end poverty. The thing is, before anyone profits from Bitcoin, they must invest money in it or get jobs that pay in Bitcoin. Bitcoin can help alleviate one's status if they have something to invest in it. But the problem is the majority of poor people don't have much money to invest in Bitcoin nor have the knowledge to participate in Bitcoin jobs and freelancing.
At the national level, how can Bitcoin end that country's poverty issue if the government itself is banning Bitcoin? Or let us say they acknowledge Bitcoin but the people who are in authority are corrupt. The problem of a nation can only be solved by the government, Bitcoin may help in the forms of tax revenue from the start-ups or new bitcoin companies establishing their business on that country but I don't think that Bitcoin alone can end the poverty of a nation.
There were a lot of success stories about people that have changed their lives by having profits in bitcoin and through investing on it. Many have earned their bitcoins through various ways and there goes the most common way of having it through buying it.
Poverty is a big thing for most countries that are known can't tackle this problem. And there are rich countries as well but still have some bit of percentage of poverty through their citizens that lives far from the city.
Dealing with poverty is so hard and it shouldn't be just taken by the people who are on that line but also the government has to do something about it. It's not new that there are a lot of bitcoin holders that have been on that line until they believed that bitcoin is their life saver and it did when the price went up.
Financially, they've been in a better situation and dealing with it still will depend on the person that owns bitcoin. Because he may have bitcoin and seems to be financially free but, if he's not capable on it and doesn't have the financial education on how he will expand and retain that wealth, it will be useless because he might just spend all of his profits for nothing.
Poverty is a big thing for most countries that are known can't tackle this problem. And there are rich countries as well but still have some bit of percentage of poverty through their citizens that lives far from the city.
Dealing with poverty is so hard and it shouldn't be just taken by the people who are on that line but also the government has to do something about it. It's not new that there are a lot of bitcoin holders that have been on that line until they believed that bitcoin is their life saver and it did when the price went up.
Financially, they've been in a better situation and dealing with it still will depend on the person that owns bitcoin. Because he may have bitcoin and seems to be financially free but, if he's not capable on it and doesn't have the financial education on how he will expand and retain that wealth, it will be useless because he might just spend all of his profits for nothing.
… Bitcoin has helps the poor by Increasing their savings and access to capital...
Do poor people need to save? I think they need to find a way to get more money first, be comfortable and then invest and save. You do not get rich by saving alone, people should understand this. Bitcoin cannot end poverty, it can reduce the number of people and prevent some people from fallen back under the poverty line. If a poor person thinks that his small investment in bitcoin is enough to turn his fortune, he is only living in fantasy.Bitcoin alone cannot end poverty. There are many causes and factors that result in poverty, and until those factors are addressed, poverty will continue to exist.
According a publication I just read because of curiosity to know the many causes of poverty, there are nine major causes of global poverty:
Quote
- INADEQUATE ACCESS TO CLEAN WATER AND NUTRITIOUS FOOD.
- LITTLE OR NO ACCESS TO LIVELIHOODS OR JOBS.
- CONFLICT.
- INEQUALITY.
- POOR EDUCATION.
- CLIMATE CHANGE.
- LACK OF INFRASTRUCTURE.
- LIMITED CAPACITY OF THE GOVERNMENT.
- LACK OF RESERVES.
- LITTLE OR NO ACCESS TO LIVELIHOODS OR JOBS.
- CONFLICT.
- INEQUALITY.
- POOR EDUCATION.
- CLIMATE CHANGE.
- LACK OF INFRASTRUCTURE.
- LIMITED CAPACITY OF THE GOVERNMENT.
- LACK OF RESERVES.
I found some of these causes interesting and difficult to believe until I read in details. If it interests you, you can read in the details the nine major causes of poverty HERE.
For me proverty is not the problem of a person but of the whole nation in my country the eradication of poverty has becomes necessary for the sustainable and inclusive growth of the let state the fate here Bitcoin has helps the poor by Increasin their savings and access to capital also it has help around 1.7million people in my country and also it has also impoverished people to control their investment.
It's very hard for poor people to make savings, especially for those who have hunger problems because they live not only paycheck to paycheck but on social insurance system. Even if they are able to make savings, bitcoin can't help any nation to end poverty. I have no idea why someone even thinks that bitcoin can help to solve any problem related to poverty or joblessness because if no one creates a product, no bitcoin and no gold will fill the demand or create a product out of thin air.In order to end poverty, people need more access and guidance on education, more investment into farming, including science and technologies that are necessary for creating safe products with minimum work from human's side.
The way I perceive bitcoin enriching the world is a bit different, although cryptocurrency has raised more millionaires than any other venture, I feel it does a different form of wealth transfer. Let's not forget that cryptocurrency also does a four-year cycle, and let's be aware that not everyone made money in cryptocurrency, some lost a lot.
In what way? Profit? In order to start you'll need capital and since we are talking about poverty how will that even be possible? Ofcourse there are ways to work for profit in crypto industry but you'd be needing device, internet connection, and knowledge which I think countries suffering from poverty are somehow lacking. To think that this industry could cure the long term problem is absurd. Indeed this industry is profitable but think of the people around you; not everyone is an investor for a reason. It could be because they are aware or afraid of risk because they cannot afford losing or because they don't have that amount for them to put into risk. Proverty is a long term issue and technology won't be able to resolve it, alone.
Can people in poverty invest in bitcoin or invest in anything at all? If living in poverty, someone may not be able to even have a successful three meals in a day, because there is no enough money for it.
Bitcoin helped, that is true, but it helps those that invested in it. To own bitcoin today, at least you are not leaving below the poverty line.
You are so right. How easy will it be for a poor family or individual to invest in Bitcoin while they have not been able to meet their basic needs? This same question has been asked before, Eradicating poverty is a bigger national issue than just some people being able to buy some few Satoshis cos if we really have to talk about getting out of poverty with Bitcoin investment, then we will be looking at buying a while BTCitcoin and above which mean those kinds of people ain't poor, to begin with. Bitcoin helped, that is true, but it helps those that invested in it. To own bitcoin today, at least you are not leaving below the poverty line.
It is impossible to eradicate prover unless you will give all those poor people money to lift them up from poverty which is impossible to do and there are a lot of people in the world . They can even afford food how much more buying bitcoin? Other will also say to get an education so that they can get out of their situation but education is expensive still it is difficult to achieve. It is really a complex thing and it is very difficult to resolve. Bitcoin can help others life but cant resolve this kind of issue
For me proverty is not the problem of a person but of the whole nation in my country the eradication of poverty has becomes necessary for the sustainable and inclusive growth of the let state the fate here Bitcoin has helps the poor by Increasin their savings and access to capital also it has help around 1.7million people in my country and also it has also impoverished people to control their investment.
How exactly has bitcoin done this? Please help me with it? I understand people who would have bought Bitcoin luckily at a lower price have made good gains but this doesn't means all the poor got access to it. Also it's just like stock market when it comes to price appreciation so if a poor person would have put money into stocks as well the his fate would have been same only. So I don't agree that it has alleviated poverty of any nation or even 30% of poverty sticken people of any nation. 
How will bitcoin that is now @ $26+++ per coin help to eradicate poverty? What means can that happen? You mean by investment or what means if I may ask. Poverty means you are not able to help yourself as an individual, so how much do a poor person have to invest in bitcoin and grow it to an extent to make huge profit and how many years can that be, 4 years, 8 years or 12years depending on the time of halving? A poor person barely feed from hand to mouth and won't have savings for investment. How much fraction of Satoshi you need to invest thereof.
Before I forget, if you stop corruption, most nations will become developed. The government must be sincere and give its citizens freedom to choose their economic paths.
Yes it takes government sincerity to introduce policies that will help the financial growth of the people, like non interest loans spanning a long time. To take people out of poverty the government will have the political will to put her foot on the ground and eschew nepotism, corruption etc
Before I forget, if you stop corruption, most nations will become developed. The government must be sincere and give its citizens freedom to choose their economic paths.
Yes it takes government sincerity to introduce policies that will help the financial growth of the people, like non interest loans spanning a long time. To take people out of poverty the government will have the political will to put her foot on the ground and eschew nepotism, corruption etc
For me proverty is not the problem of a person but of the whole nation in my country the eradication of poverty has becomes necessary for the sustainable and inclusive growth of the let state the fate here Bitcoin has helps the poor by Increasin their savings and access to capital also it has help around 1.7million people in my country and also it has also impoverished people to control their investment.
Poverty has been the problem of many countries since then, even if the government created a solution, its not working because people itself don't want to get out of that poverty and just want to remain a beneficiary of the government program. Bitcoin is not created for this purpose, so I don't expect that if you adopt Bitcoin you'll be out of that poverty because it will still depend on you, it will still depend on how you deal with this market. Bitcoin is too risky and too volatile, there's no assurance on making money so if you invest without the right knowledge, you might become more poor because of that.
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