Topic: Do you think Bitcoin can end poverty? In a nation today - page 3. (Read 1760 times)

Not all minimum wage earners find it unable to hodl bitcoin,  for those who truly understand what bitcoin is all about, no matter what they recieve as allowance they try their best to buy as little they can afford hodl. If you don't really understand bitcoin no matter the high earning you recieve it will be always difficult to invest in bitcoin.  Sometimes investing in Bitcoin is not just about how much you earn but the kind of mindset you have towards bitcoin. Investing bitcoin is never easy for people who don't understand it irrespective of how much you earn.  People who don't have good understanding about bitcoin are always inquisitive of earning money quick in bitcoin.

How can someone who doesn't have money invest in Bitcoin and do you think you can think about investing in conditions of poverty that are affecting most people? The data you collected from shows that around 1.7 million people in your country have been involved in it and what is strange is that they are classified as poor people. It is so difficult to provide for their daily living needs, how can they focus on investing with the inability to buy.

Bitcoin helps anyone but those who have the opportunity to invest. But if people are not involved in it then there is no opportunity to reach the stage of improving poverty levels. Eradicating poverty is not an easy thing, especially if your country does not have jobs that can be done by the wider community so poverty is something that is difficult to eradicate.

Even if a government or a country does utilize Bitcoin to get their economy better, I don't think that will impact the lives of the poor living in that country because we can see all around the world where countries that have very good economies but there are still poor populations in those countries which means that the government doesn't specifically do anything for those who are poor but they only do things on a larger scale which might affect the economy a little bit no individuals.

For individuals, Bitcoin can only do something for them if they can access it and make investments in it, but someone poor won't be able to do any of the two because they can't afford it, a poor can't have an investment capital to start investing in Bitcoin and they also can't buy devices to use Bitcoin.

No country can end poverty without producing goods and investing in education. If no one produces products inside, no one produces food, no one works, how can Bitcoin magically end poverty? Those who think that Bitcoin can end it, they just hope that Bitcoin's value will increase over time and poor countries that have purchased Bitcoins earlier, will have a lot of money in the future and poverty will magically end. That's not true, even if any country follows this plan and Bitcoin will significantly rise for them, they still won't end poverty because it takes more than money for poverty to end. They need to bring highly skilled laborers that will teach local people how to do welding, plumbing and etc. They need highly qualified professors that will teach business management, engineering, medicine and other professions to locals. That's why they'll end poverty, Bitcoin will only give them a little boost financially but I don't think that will be enough for any country with population more than a million people.

Your thread look more like a question but you started stating how Bitcoin can end poverty which I was not satisfied with, Bitcoin created as an easy means of traction between peers before it was later introduced as an investment, do you think that everyone knows about Bitcoin, I must tell you the truth Bitcoin can not end povery because this was meant to exist natural among humans, even though the givernment of different nations decide to adopt bitcoin as a legal tender today, many people may not be interest and my not afford it no matter the amount and the strategy is available for anyone to purchase it, some people are living below one dollar many nations so you don't exepect bitcoin to perform such magic.

I'm not sure if I understand you very well but I want to you to know something. You don't need wide knowledge of Bitcoin to be able to make money from it, if you understand how to buy and how to sell when you are profitable enough, I think you are good to go but if you really want to last here, you need more knowledge so that you don't end up like one guy that used 10 Bitcoin to order pizza or be that guy that forgot the hard drive that contains millions worth in the dump yard.

Bitcoin can't end poverty, it can do that perhaps when it was still cheaper but now it's too expensive to buy, where do you expect a poor person to raise a big amount of money to buy a full bitcoin when they can't afford to buy a plate of food and buying $100 worth wouldn't make you richer because even though Bitcoin do 3x, you would probably would just make money to pay house rent for that month, that's if it will be enough.


The world feel trapped by the government, they wouldn't allow that happen under their eyes, recently JP. Morgan still refer Bitcoin as a scam investment, now imagine if such people that influenced financial system continues to attack Bitcoin in that manner, even the government will support them because they are all involved in their traditional financial system.

As I said, bitcoin will have a significant impact on the individual or organizational economy. But I also need to emphasize again that whether you can leverage bitcoin to improve the economy depends entirely on you, not bitcoin. I mean, to earn good profits from investing in bitcoin, it will depend on one's level and skills. Things will not be as simple as just spending money and investing in bitcoin will make everyone rich or improve their economy. Bitcoin is just a tool and whether we can take advantage of it or not depends on each person.

How exactly? You see, the poor population in an economy is the one that doesn't have access to basic amenities, electronic devices, and internet services is a far thing for them and one can't even know about Bitcoin if they don't have these things. You can't expect someone living in a hut made of plastic bags eating once a day to know anything about technology and innovations such as Bitcoin, and if they don't know anything or have any way to access it, I don't see how they can utilize it to end their poverty.

And, even if they manage to gain access to an internet connection, buy the cheapest device, and gain access to tools and stuff to use Bitcoin and other cryptocurrencies, they wouldn't have the funding to get involved. Bitcoin doesn't do magic, you can't just create a wallet, read some magical lines, and receive Bitcoin in your wallet. You need money to earn money, and Bitcoin and other cryptocurrencies work with the same rule.

So, I don't agree that Bitcoin or any other cryptocurrency can end poverty because they are only available for people who are doing pretty well because others can't utilize them to achieve gains.

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.

Agreed that the government system is largely responsible for the country's poverty and economy. But political war is not as simple as we think, politics is what is killing people every day. Even if your government is trying to find ways to move the country forward, if major governments like the US or China seek to embargo or restrict your government just because of some disagreements in the international arena, it is inevitable that your country will fall into deadlock.

Besides corruption, there are other reasons why governments are weak and have difficulty moving the country's economy forward. Small countries and third countries are both strongly influenced by large countries and that is also one of the causes of large inflation in third world countries.

No poor can save something, that is the very reason they stay poor.
No discipline, no effort to make it happen,rather enjoy on day and suffer for a month behavior patterns.

Agree with what you say, it is the state system that must be responsible for poverty which is increasing every year in various countries, because there are still many who misappropriate state money into personal accounts or other partners, and this action is not strict, for officials and only sharp downwards. For me, who is really very poor, I think it is very difficult to save, let alone buy assets. They only think about how they will eat the next day

However, if they can rise from the depths of poverty, I think they can slowly ask what to save for the future, usually they believe more in gold because of their lack of knowledge about bitcoin. Maybe they need a process to find out what bitcoin is? If they already understand this, they will definitely choose Bitcoin in the future.

Sonce Bitcoin is just a tool for everyone to achieve financial freedom I think there is the higher chance for that depending on how and what people are doing with their Bitcoin investments. Though there are a lot of ways to earn or accumulate Bitcoins without spending our own money but yeah it all matters on our strategy to rise up from poverty and I believe it is very possible.

If you can buy a lot of bitcoin now and hold it until it reaches 150k, it is possible. Because honestly speaking, this is just real talk. Bitcoin in this era will only make you rich if you are like Michael Saylor, Elon Musk, Vitalik, and other famous people or big companies or institutions investors who, once you are able to buy a lot of bitcoins, will become very rich indeed.

But for people like me, I won't be able to get rich if I only focus on Bitcoin; instead, it will only happen if I focus on altcoins and give time to accumulate, knowing if there are really
potentials in the future.

This is the reality that not everyone can learn about Bitcoin therefore it cannot be a solution to overcome poverty but if more people move towards it without knowledge then they can become poor due to loss of money. Poverty can only be ended with the help of Bitcoin if a person possesses full command of his investment and does not feel sorrow due to market changes.

The overall population of the world cannot accept Bitcoin due to financial instability and those who have money will not surely gain profit from Bitcoin because everyone cannot understand this type of investment and cannot continue due to lack of knowledge and lack of the ability to use patience.

Broadly speaking, in terms of prospects and progress to date, no one will doubt the real bitcoin, it's just that there are several conditions where they are still unsure and prestigious or do not want to admit that bitcoin is one of the best investment assets because this can interfere with the interests of some of them.

Nowadays, many people know and want to be in bitcoin but on the other hand they also don't want to learn more about bitcoin which makes this also another problem where bitcoin becomes a tool that is good but cannot be maximized.
I personally in the end if it refers to the initial topic where bitcoin can change the situation for a larger scope I am not sure because in the end for the scope of a country it is not easy because indeed they cover all aspects in one state but for problems in a small family I think it can still be because I have also felt that in the end with bitcoin at least the quality of my economy is more secure.

But how will bitcoin reduce a country's inflation? And inflation is also one of the factors that causes people to fall into poverty, so if bitcoin can help reduce inflation for any country, it will also contribute somewhat to poverty reduction. Honestly, I don't see bitcoin having any impact on a country's economy since it's just a highly volatile asset.

To me, bitcoin is a volatile asset and investment and it would be great if an individual or organization knew how to take advantage of it. But talking about impact at the government or country level is impossible, investing in a highly volatile asset is not the way for that government to get that country's economy going.

you have a point, not everyone has a capability to learn bitcoin and we all know that bitcoin value is volatile, the value of this coin can change without notice depends to the market movement that's why I don't think this is the key to resolve the poverty, Maybe it can lessen but not totally end the poverty because some people in a society destined to become poor to balance the entire society and that's the truth. Take note that it's kinda hard to have at least 1 bitcoin so it is not really surprising if this will not be the answer to solve poverty in every country.

Poverty is not written by anyone or I don't want anyone to insult or hurt others because of poverty but poverty that will cure you bitcoins is wrong.  Because pitcon is never out of charge To get bitcoin you must do something that not everyone can do and a poor person without education can't do it in life.  You don't have to invite to do this or work on it without invite or you will never earn bitcoins you must work on it and find the market.  Bitcoin is never going to let a man come and tell you I gave you a bit, let your responsibility go away, it's your right, you have to take away your right, you have to earn it.

bitcoin is a decentralized p2p transaction system which is designed to bridge transactions between people. because it is intended for transactions, that means bitcoin is the same as digital currency and it cannot overcome poverty on a large scale, it can only be applied to individuals and the results are not necessarily successful, because it depends on how the individual manages their investment in bitcoin.

in particular, the value of bitcoin is unstable and at any time people's investments in it can decrease in value, so it is quite risky for people who are still new to investing in bitcoin.