Bitcoin has been in existence since 2009 but not everyone knows about this stuff especially our parents and some other adults who do not have any interest concerning online business or stuffs.
And Bitcoin is an online stuff right? so for me Bitcoin cannot erase poverty in a nation even if the government make it compulsory for every citizens by organizing tutorials not everybody would attend even if not that am still a young person I don't really find online things interesting so If I had been in the shoes of those adult I won't have been interested as well.
But in conclusion Bitcoin cannot end poverty in nation.
It can only help some number of people.
Topic: Do you think Bitcoin can end poverty? In a nation today - page 5. (Read 1760 times)
Bitcoin cannot end poverty, but it can curb it a little bit, not everyone believes in bitcoin, there are still tons of people who still believe that bitcoin is a pyramid scheme, not really knowing what bitcoin is.
Investing in bitcoin is extremely risky, not everyone has the foresight of seeing what bitcoin will do in the future and holding through during the bear season, a lot of people will cut losses if they see that their investment is going down, and there's an adage in crypto currency that if you can't hold you can't be rich, if majority of newbies who are introduce to crypto don't understand this, then curbing poverty might be difficult not to talk about eradicating poverty
Investing in bitcoin is extremely risky, not everyone has the foresight of seeing what bitcoin will do in the future and holding through during the bear season, a lot of people will cut losses if they see that their investment is going down, and there's an adage in crypto currency that if you can't hold you can't be rich, if majority of newbies who are introduce to crypto don't understand this, then curbing poverty might be difficult not to talk about eradicating poverty
Bitcoin can better the lives of people in any country because it's a store of value and one of the best investments that anybody can go into, you don't have to be rich to become a Bitcoin investor, you can adopt the DCA method and increase your hodl. If held on the long term, it's returns on investment will keep increasing and make the holder very rich, so in this regard Bitcoin can end poverty for an individual, increase net worth of a company and increase the reserves of a country.
However Bitcoin can not eradicate poverty for an unemployed person who has no money to invest in it, you'd have to buy it with money and hodl until it's price increases before it can be profitable, also a person without a steady source of income might be tempted to sale prematurely when it's not profitable to do so. The advantage of Bitcoin compared to other forms of investments is that a low income earner can start with a small amount and accumulate till they'll become rich.
However Bitcoin can not eradicate poverty for an unemployed person who has no money to invest in it, you'd have to buy it with money and hodl until it's price increases before it can be profitable, also a person without a steady source of income might be tempted to sale prematurely when it's not profitable to do so. The advantage of Bitcoin compared to other forms of investments is that a low income earner can start with a small amount and accumulate till they'll become rich.
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.
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.
No, because bitcoin is an investment, just like when there are rich people with a lot of money, to help poor people get out of poverty there doesn't have to be bitcoin, but the presence of bitcoin will help people who previously didn't have a job. With the presence of bitcoin, people will start to think and explore more. bitcoin until you join, by joining slowly you will start learning until you get income from bitcoin, then that's when you start to feel that the results of bitcoin, even though we can't help other people, at least we can support ourselves.
Bitcoin helps but to get help from it you have to be associated with it. And to be associated with Bitcoin you have to invest in it. But can a poor person afford to invest in Bitcoin or any other business? No, so even if Bitcoin helps, it is not for the poor. Because a poor man struggles to meet his basic needs. How can he invest in Bitcoin and benefit from Bitcoin?
Quote from: Cryptomultiplier
Poverty is a problem of the mindset, not money. Wherein one has the knowledge on how to invest the money to yield profit, then that person cannot be said to be of a poverty standard.
When an individual has alot of Bitcoin and knows what to do with it, he or she cannot be poor, but without adherence to security protocol and accessing of risk of managing or investing such Bitcoin to yield profit, the problem of poverty will continue to loom.
Bitcoin can reduce poverty of individuals can be taught or mentored on how to mine, trade and invest its resources properly to the maximum benefit.
The best way to solve the problem is to struggle to get the money to look for something to invest, that will be bringing money to you to delete the poverty, and those that have the money to invest in BTC or other cryptocurrencies will not experience the poverty.When an individual has alot of Bitcoin and knows what to do with it, he or she cannot be poor, but without adherence to security protocol and accessing of risk of managing or investing such Bitcoin to yield profit, the problem of poverty will continue to loom.
Bitcoin can reduce poverty of individuals can be taught or mentored on how to mine, trade and invest its resources properly to the maximum benefit.
I have seen many BTC investors, who have made huge amount of money from BTC investmen because it has been long they have joined BTC investment to achieved huge amount of wealth to establish other businesses to be free from poverty.
Yes, BTC can delete poverty, when the country make it legalize for everybody in the country to have full access to BTC investment legally, and it will make some people to introduce it to their business to generate more money from their businesses.
I dont know about poverty so much but insolvency is more likely in countries where the national currency has collapsed this is best demonstrated. If a country has a national currency so bad that business is impeded then Bitcoin is not required to be any angel perfect in its nature and efficiency it just has to be of some aid to the desperate and abandoned in their business cash flow. It can be a vital life line for sure, partly this is down to dollar being a remote resource in some parts of the world also.
There is no doubt beyond this proof that what you said is reality about poverty it's not absence of money that make person poor but mindset example many has the resources , money but still poor due to inability to harness what they has from their mindset. No body can go out of poverty when your not highly articulating on investment that can move you out of that very condition.
BTC can improve the economic conditions of the nation and it's citizens if truly they harness the resources and invest wisely avoiding wasteful resources unprofitable area of life endeavors.
People with right thinking which or good mindset venture into investment and they changed their financial obstacle, just as those that started BTC it's their thinking and future clavoyant that make them what they are today, more for investment may not be huge for a start but may turn out mighty ocean at the end all lies in the hand of person with right thinking.
I’m afraid crypto cannot solve this kind of problems. Right now by the majority crypto is seen as a way to protect savings. This is the reason why we can see the burst of crypto purchases during crisis. But it has no influence on people’s wealth. To have it and to be able to exchange it to anything you have to buy it. The problem between poverty and money is not the form or type of money that is being used, but rather how that money is distributed and accumulated. Cryptocurrencies are still prone to the same problems that are prevalent in liberal market economies. CEO salaries are still questionably exorbitant, tax havens exist, special interest groups have large sway over governments, low-income earners have stagnating income against rising inflation rates, and a whole host of other problematic issues. Just because people are really starting to embrace cryptocurrencies, there is no clear indication that cryptocurrencies will have any meaningful impact on lowering the amount of people in poverty.
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.
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.
Poverty doesn't only come from a poor financial state or poor standard of living,poverty starts from the mind and until you conquer your mind against that poverty era,you still be stucked the poor living state,like they handed over poverty to you.
Secondly,poverty can only be reduced and cannot be easily eradicated,like the way people normally talk about it.Poverty can only be reduced and it has to start with you,it's a personal achievement about yourself that needs to be achieved with a positive step of creativity and a willingness to attain growth.
Lastly,bitcoin can be used to resolve poverty issues if you're been coached,assisted with the right source of information,randomly been put in order,propelled with the right mentorship,advanced knowledge and opportunities.
Poverty is a problem of the mindset, not money. Wherein one has the knowledge on how to invest the money to yield profit, then that person cannot be said to be of a poverty standard.
There is no doubt beyond this proof that what you said is reality about poverty it's not absence of money that make person poor but mindset example many has the resources , money but still poor due to inability to harness what they has from their mindset. No body can go out of poverty when your not highly articulating on investment that can move you out of that very condition.
BTC can improve the economic conditions of the nation and it's citizens if truly they harness the resources and invest wisely avoiding wasteful resources unprofitable area of life endeavors.
People with right thinking which or good mindset venture into investment and they changed their financial obstacle, just as those that started BTC it's their thinking and future clavoyant that make them what they are today, more for investment may not be huge for a start but may turn out mighty ocean at the end all lies in the hand of person with right thinking.
Is it poverty in general? Cause if we're talking about poverty in general, I don't think so. But individually, it's possible. In some cases, there are people who get into crypto and bitcoin and found opportunity to earn (and that's us) that helped them to uplift their lives. But not everyone has the same luck, opportunities and access to enter in this space. And not everyone had a positive result when they entered the space as well. And these are some of the factors that hinders other people (specially those who are struggling financially) to see Bitcoin as something that can help them get out of poverty.
I will agree that Bitcoin might be part of an individual solution, but the world will continue to have poor people, this has been there for generations the era of industrialization. a lot of people who were building industries and many more with their families are still enjoying their generational wealth. That is one thing about wealth it is built, so people who were not building theirs are still lying there, and that is why there will still be poor people.
And so people work according to their faith, Rich people have one thing in common: they never give up on whatever circumstance, that is what has gotten them to achieve their goal, Everything is mostly based on mindset, and people have grabbed the opportunity to invest in bitcoin, Wealth is an open opportunity, and if you continue to pay attention to the details of what is happening around you, that is how people become wealthy and take advantage of the opportunity. and if they try it and don't get results, they keep trying again. and that is exactly what to do when you want to get out of poverty. At this point, it is now a matter of choice.
however, the risk is still there that it could even be that a poor person will lose all his money if he is not able to control it properly on bitcoin.
Exactly if bitcoin is not properly introduced to one person, they might put everything they have into investing into bitcoin and would expect that they would just get profit from that without knowing the risks and its consequences.
One might even get debts or sell their assets for a shot at a better life with bitcoin so it would be pretty devastating to see if one fails at it
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 believe you are correct that boosting access to savings and capital is a crucial step toward improving the economic status of individuals in society, but the usage of Bitcoin in the country might be for transfers. Cash transfers are transactions in which people transfer money back to their home nation from abroad. Remittances are frequently sent through traditional banking institutions, which can be costly and delayed. However, Bitcoin may be used to transmit money more rapidly and inexpensively, which might have a significant impact on those who rely on transfers to maintain their family. It might also help more people into the online economy and better their lives.
Is it poverty in general? Cause if we're talking about poverty in general, I don't think so. But individually, it's possible. In some cases, there are people who get into crypto and bitcoin and found opportunity to earn (and that's us) that helped them to uplift their lives. But not everyone has the same luck, opportunities and access to enter in this space. And not everyone had a positive result when they entered the space as well. And these are some of the factors that hinders other people (specially those who are struggling financially) to see Bitcoin as something that can help them get out of poverty.
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.
if you have good knowledge, it's not impossible that Bitcoin is able to cover someone's poverty, be it by trading or investing, but what you have to remember is that all possibilities are very possible, given the very volatile price movements of Bitcoin.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.
yes, that's true, but all of this is in line with the risks that will be faced.In a poor country with low basic living expenses, it is indeed very possible to be able to benefit from Bitcoin to cover all their needs, or you could say someone gets out of poverty as long as someone has the desire and knowledge about Bitcoin.
however, the risk is still there that it could even be that a poor person will lose all his money if he is not able to control it properly on bitcoin.
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.
if you have good knowledge, it's not impossible that Bitcoin is able to cover someone's poverty, be it by trading or investing, but what you have to remember is that all possibilities are very possible, given the very volatile price movements of Bitcoin.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.
yes, that's true, but all of this is in line with the risks that will be faced.In a poor country with low basic living expenses, it is indeed very possible to be able to benefit from Bitcoin to cover all their needs, or you could say someone gets out of poverty as long as someone has the desire and knowledge about Bitcoin.
however, the risk is still there that it could even be that a poor person will lose all his money if he is not able to control it properly on bitcoin.
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. 
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.
Indeed, if I remember right there's a country even if you a million of their own currency, still you can be consider as poor. Since their currency is worthless with that if Bitcoin entry the market as their currency it might save them. It would be impossible to use as physical currency but as digital it would save their economic situation. Bitcoin indeed gave a lot of opportunity to anyone.
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.
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.
In general, we can conclude that bitcoin has helped lives in many ways such as employability, financial freedom, income profitability and many other opportunities it has come to offer us all, many of the youths seek this financial freedom to invest in bitcoin and make profits from it over years since the banks can't give them this when they hodl their money in it, but bitcoin makes a good opportunity over years when you hodl your investment asset in it, El-Savador has been enjoying this same benefit ever since bitcoin adoption in the country and same applies to everyone all over the world the beeds a change in their financial economy with bitcoin.
After all, bitcoin is just an asset like any other, it gives you wealth or not is up to you, not bitcoin, so it cannot help alleviate poverty. What you say is only a positive side and those who have been successful with it, and those who invest in it but lose even lose everything because of investing in the wrong method, I don't see what you mentioned.
To eradicate poverty in a country, we need jobs and appropriate policies from the government to improve people's living standards, not just investing in bitcoin to alleviate poverty.
It is important to note that investing in bitcoin or any other asset carries risks, and it is not a guaranteed way to alleviate poverty. People should be aware of the risks involved and invest wisely, using proper research and analysis to make informed decisions.
Quite frankly, bitcoin and cryptocurrencies are financial markets, and financial markets have winners and losers. When you sell at a high price to make a profit, there must be a buyer, and that person will be the loser, not all winners. That is the law of the financial market, and we cannot do otherwise.
Investing in bitcoin has a chance to get us out of poverty, but we need reality to solve life's problems. Don't exaggerate things too much because that won't help us either. To eradicate poverty really needs the help of the government and many other factors.
Jump to: