Do you think Bitcoin can end poverty? In a nation today - page 2.

oktana

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Quote from: Y3shot on May 02, 2024, 06:10:05 PM

Quote from: oktana on April 27, 2024, 03:09:05 PM

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

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.

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.

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Quote from: oktana on April 27, 2024, 03:09:05 PM

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

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.

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Quote from: oktana on April 30, 2024, 03:10:48 PM

Quote from: Huppercase on April 28, 2024, 03:21:56 PM

Quote from: oktana on April 27, 2024, 03:09:05 PM

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

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.

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.

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.

oktana

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Quote from: Huppercase on April 28, 2024, 03:21:56 PM

Quote from: oktana on April 27, 2024, 03:09:05 PM

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

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.

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.

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Quote from: oktana on April 27, 2024, 03:09:05 PM

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

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.

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Quote from: Uhwuchukwu53 on April 27, 2024, 03:33:46 PM

Quote from: lovesmayfamilis on March 18, 2023, 11:48:12 PM

For Bitcoin to lift people out of poverty, they must invest in it. You must understand that poor people live one day; it is important for them to feed their families. How can they have extra money?
Nevertheless, Bitcoin can motivate people to educate themselves and agree that you cannot enter any industry without experience. If people begin to take better care of their lives, value time, and learn new technologies, they may have a chance to escape poverty. But it always depends on the person himself and not on Bitcoin.

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.

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?

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Quote from: lovesmayfamilis on March 18, 2023, 11:48:12 PM

For Bitcoin to lift people out of poverty, they must invest in it. You must understand that poor people live one day; it is important for them to feed their families. How can they have extra money?
Nevertheless, Bitcoin can motivate people to educate themselves and agree that you cannot enter any industry without experience. If people begin to take better care of their lives, value time, and learn new technologies, they may have a chance to escape poverty. But it always depends on the person himself and not on Bitcoin.

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.

oktana

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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

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Quote from: Farma on April 24, 2023, 02:08:47 AM

Quote from: Pierre 2 on April 23, 2023, 11:33:27 PM

If you are living in poor country with very bad currency Bitcoin can certainly help you with poverty. In my country wages decreased gradually beyond absurd levels so everyone around me work for something like 600-1600 USD which is very low when we compare with European countries. But Bitcoin helped me protect my wealth in eras where our currency depreciated. Bitcoin's mere existence helped many people around the world.

well, basically bitcoin can indeed help us in economic problems if we also know how to use it. If someone in a poor country could take advantage of bitcoin then it could really help them with the economic problems they have. I've watched several documentaries that say that some poor countries even the average income of their citizens is not up to $ 100 per month, or not even more than $ 50. If they knew how to capitalize on bitcoin then I'm pretty sure they could increase their income significantly.

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.

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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.

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Quote from: Y3shot on April 27, 2024, 12:46:24 PM

Quote from: TEBTC on April 26, 2024, 07:04:12 PM

Bitcoins investment and it's prospects for the less privelag and poor in society can't be overemphasized as it has allot of promise to the poor in our society, I can categorically say that Bitcoin is the future of the world economic growth and stability so it has the capacity to end poverty in any society as it value increase progressively over time that means more money to the investor and Bitcoin investment is the antidote to ending poverty especially in economical less privelag places like Africa

So you mean bitcoin can make you to be rich? No doubt bitcoin is good and has add good value to people financially. One thing about bitcoin is that you need to have money for bitcoin to give you money. People that are trading and investing in Bitcoin if at all they become financially elevated in the future it is not because Bitcoin did for them without them doing anything. You must first have something doing first as a source of income before bitcoin will add it own value. Bitcoin doesn't just make people to be rich just like that , their is a need to get source of income before you can be rich in bitcoin.

Bitcoin can't literally just make someone rich, if you put it that way we find ourselves trying to sell off or gamble with her prices, Bitcoin has promising future for any investor but would take time to build and a maturity stage to before total reliance on it.
How about we take it as an investment (asset), that grows increasingly and overtime yield it value with our set investment plan, then we can use the profits made and consider it, but can't make someone rich especially from scratch without any source of income, buying, DCA all gears down that you must have a source of income first.
Understanding the key to wealth, then leads you to invest in relative to secure your future rather than regretting for lack of proper money management.

Y3shot

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Quote from: TEBTC on April 26, 2024, 07:04:12 PM

Bitcoins investment and it's prospects for the less privelag and poor in society can't be overemphasized as it has allot of promise to the poor in our society, I can categorically say that Bitcoin is the future of the world economic growth and stability so it has the capacity to end poverty in any society as it value increase progressively over time that means more money to the investor and Bitcoin investment is the antidote to ending poverty especially in economical less privelag places like Africa

So you mean bitcoin can make you to be rich? No doubt bitcoin is good and has add good value to people financially. One thing about bitcoin is that you need to have money for bitcoin to give you money. People that are trading and investing in Bitcoin if at all they become financially elevated in the future it is not because Bitcoin did for them without them doing anything. You must first have something doing first as a source of income before bitcoin will add it own value. Bitcoin doesn't just make people to be rich just like that , their is a need to get source of income before you can be rich in bitcoin.

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Quote from: Black susano on March 17, 2023, 10:13:20 AM

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 can have an effect into poverty but I doubt that it can completely eradicate it given the circumstances being faced by each country.

Remember that developed, developing, and underdeveloped countries have their respective economic and financial struggle that varies depending on their priorities. For example, underdeveloped countries have problems ranging from having no access to basic needs (e.g. clean water, food, infrastructures, etc.); while developing and developed countries may still struggle with having job opportunities, corruption, etc.

Sure, Bitcoin has significantly improve some of the lives of the investors but it being used as a tool to completely eradicate poverty? I doubt so- but it can definitely fix a dent on the economic struggle of some countries if they have laws that align with its interest for its people.

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Quote from: lizarder on April 25, 2024, 01:01:52 PM

Patience is needed when investing because patience will be a bulwark for anyone not to get involved in panic. The way to do this is don't invest too much and leave some money for your needs, so that when they need money they don't have to sell bitcoin. If people understand the concept of investment then I am sure people will get a chance for financial freedom and wealth will be proportional to the amount of money we put in investments based on the right pattern.

I agree with all of that. But, if we come back to the topic, we were talking about if it's possible to end poverty with Bitcoin. But I disagree because everyone does not have money management skills. We know that money management is the most important part of everything. Not only in investments but it is important in everything like running the business and even running a family.

You have to consider Bitcoin investment as an expense instead of an investment if you want to hold it for a long time. So, you don't need the money once you spend it. But, if you wait eagerly to make profit from your Bitcoin, I am sorry but that is not going to happen in one night. This is why Bitcoin won't be able to end the poverty.

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Bitcoins investment and it's prospects for the less privelag and poor in society can't be overemphasized as it has allot of promise to the poor in our society, I can categorically say that Bitcoin is the future of the world economic growth and stability so it has the capacity to end poverty in any society as it value increase progressively over time that means more money to the investor and Bitcoin investment is the antidote to ending poverty especially in economical less privelag places like Africa

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Quote from: Learn Bitcoin on April 25, 2024, 06:58:06 AM

True. I agree with you.
I have said those things because this is a usual and common thing that happens around us. If you ask new Bitcoin investors that how many times do you check the price of Bitcoin in a week? Most of them will say more than ten times. This is their money, I cannot ask them not to check the price. But the fact is, they are new and desperate about their investment.

That's the problem because checking the price of bitcoin excessively will cause panic when the market experiences a sharp decline. They should have a plan that the bitcoin they own will be held until it reaches the desired price. If the price has not been reached then just wait and there is no need to panic under any circumstances because bitcoin always gives birth to moments of recovery and will always be in an upward condition after a four-year period.

Quote from: Learn Bitcoin on April 25, 2024, 06:58:06 AM

People who do not have enough patience won't be able to hold their Bitcoin for a long time. They will end up selling their Bitcoin if they need money. People with low capital also won't be able to hold for a long, because they cannot afford to have all their money in a bank for a long time. This is why, Bitcoin won't be able to reduce the poverty. It will make rich people more richer.

Patience is needed when investing because patience will be a bulwark for anyone not to get involved in panic. The way to do this is don't invest too much and leave some money for your needs, so that when they need money they don't have to sell bitcoin. If people understand the concept of investment then I am sure people will get a chance for financial freedom and wealth will be proportional to the amount of money we put in investments based on the right pattern.

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Quote from: AnonBitCoiner on April 24, 2024, 02:02:47 PM

Bitcoin holders should not think emotionally because they have to know about the fact that Bitcoin increase will take longer so regularly checking the price will just put you in a stressful situation. If someone invests in Bitcoin then he should think that taking profit before four years is not possible so by remembering this he will not think emotionally and will be ready for every condition.

True. I agree with you.
I have said those things because this is a usual and common thing that happens around us. If you ask new Bitcoin investors that how many times do you check the price of Bitcoin in a week? Most of them will say more than ten times. This is their money, I cannot ask them not to check the price. But the fact is, they are new and desperate about their investment.

People who do not have enough patience won't be able to hold their Bitcoin for a long time. They will end up selling their Bitcoin if they need money. People with low capital also won't be able to hold for a long, because they cannot afford to have all their money in a bank for a long time. This is why, Bitcoin won't be able to reduce the poverty. It will make rich people more richer.

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There are countries that have produced a lot of finance experts and citizens that have financial education and IMHO that adds a greater gain to the economy of those counties. So, it's about knowledge and not actually the product that they're going to use or the services that they're going to make. As long as most of the citizens are in-depth and well versed to Bitcoin or anything related to money, that can end the poverty from that country. But it also differs per preference of each citizen. Some may not prefer to get into these things even if it's promising and has the potential to end the cycle of their family's poverty.

And that's why if you're into that stage of thinking if it's going to end poverty of a nation, it possible can. But every nation has their own problems wherein the citizens can't be pushed to the best that they can and we've got different point of views to this regard. We are optimistic but on the otherhand, there goes the pessimistic folks that are thinking oppositely, obviously, that there's no way to end poverty but by just the traditional method that we used to know like in business or high salary jobs.

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Quote from: Black susano on March 17, 2023, 10:13:20 AM

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.

You seem lost as to what Bitcoin actually is or can do for people. It's a way for people to exchange value, so that people don't have to swap pineapples they harvested for a haircut. A currency does solve any sort of poverty by itself, for that you need to have value creation activities taking place and on a wide enough scale to lift people out of a subsistence style economy. You should explain exactly how you think bitcoin has helped people increase their savings, because most people who were poor before bitcoin are still equally poor now. If people have access to an internet connection then they most likely have access to all sorts of other resources and can get credit, but that's got nothing to do with bitcoin.

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Quote from: Learn Bitcoin on April 21, 2024, 12:34:31 AM

To be honest, Bitcoin is not for everyone. Bitcoin is for everyone only if they use this as a payment channel or do not expect any good returns from it. People will low capital always end up losing money by investing in bitcoin because of their poor money management. People can make a profit out of Bitcoin only if they have good money management skills. If you invest $10 in Bitcoin, you should forget about this money. But people invest $10 in Bitcoin and start checking the price every day and check what is their position at this moment.

People should understand that Bitcoin won't give you profit overnight. We don't know how long it may take to give you a good return. Bitcoin is for people who have patience with their investments. They have to wait with their investment instead of checking it every day which is not possible for everyone. A person with a $3 average income a day cannot invest and forget about it.

Yes this is the big fault of Bitcoin investors that they hold bitcoin longer but wish to earn lots of money in a day due to which their emotions increase which will force them to do something worse that will just spoil their money. Market fluctuations will put wrong impacts on your investment if you get fear about lower price so don't be afraid and trust that Bitcoin will reach to your desired value.

Bitcoin holders should not think emotionally because they have to know about the fact that Bitcoin increase will take longer so regularly checking the price will just put you in a stressful situation. If someone invests in Bitcoin then he should think that taking profit before four years is not possible so by remembering this he will not think emotionally and will be ready for every condition.

Topic: Do you think Bitcoin can end poverty? In a nation today - page 2. (Read 1760 times)