Do you think Bitcoin can end poverty? In a nation today - page 8.

Woodie

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I dont know why you make bitcoin sound like its some free money waiting for anybody that needs it to take it, no this is not what bitcoin is!

By now we all know bitcoin Is cash equivalent, which means to earn it you need to provide a service or sell some kind of product in exchange for it...better yet you can own bitcoins by buying them...forget about ending poverty using bitcoin its not some charity currency jeez we sending the wrong message to the world!

Quote from: slashz9 on March 24, 2023, 09:49:49 PM

poor people can't invest because they don't have money, because it's difficult for them to finance their daily lives, how can they invest, but if rich people buy bitcoin and then get profits and distribute them to the poor it might make more sense if something like That.

There are numerous ways to earn btc besides having to buy it!

So basically the so called poor can use their talents lr skills to get paid in crypto.

Ahli38

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Quote from: kak uli on March 24, 2023, 11:18:25 AM

Without knowing how bitcoin can provide real benefits for someone, it is impossible for Bitcoin to end poverty. unless some people know that by investing and trading in Crypto, Bitcoin in particular it is possible with bitcoin one can end the poverty that haunts us all. but trading and investing in bitcoin has a risk that is vulnerable, it takes precision and observance in trading and investing bitcoin to end poverty

so true. this is where the need for special education about cryptocurrencies and bitcoin so that everyone knows and has the same opportunities. but to end the poverty of a nation is certainly not possible at this time. especially with the lack of public knowledge of cryptocurrencies and bitcoin at this time. but currently countries like El Salvador are struggling to bring their country's changes to a better level, one of which is by legalizing Bitcoin as an alternative legal means of payment in that country side by side with the dollar. and the problem faced there is the same, namely the lack of knowledge about bitcoin. but the government there seems to be quite active in providing education related to bitcoin. although this step certainly takes a long time. but I'm pretty sure at least the investment that Nayib bukele has made in bitcoin will bring good returns for his country in the next bull run. and also the longer term.

EarnOnVictor

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Quote from: AbuBhakar on March 24, 2023, 11:14:20 AM

Quote from: Dr.Osh on March 24, 2023, 10:16:57 AM

If you want to invest in bitcoin, it's best to use money that you don't use for food and outside of your basic needs. in fact, it would be great if people invested in bitcoin using money that he is free to use. Bitcoin can indeed help poverty, however, if we don't use it wisely, then it can be a negative thing for us.

It’s impossible for this criteria to be met because people on poverty has sufficient money for their food or else they are not categorized in poverty status. Bitcoin is not for people that has no money for spending other than their food because Bitcoin has high volatility that makes poor people gamble for there life. Bitcoin investment is only good when you are using extra money that you can afford to lose.

I’m not depriving poor people but introducing Bitcoin to them will just make their life more miserable when shit happened to their money.

I'm with you on this, for starters, no poor person can be able to buy Bitcoin, and if such struggles and tried to purchase it, it can't be substantial to alleviate his poverty. Besides, there are many assets and investments before Bitcoin, have they been able to do this poverty alleviation? No, which is why I know that Bitcoin will not do a miracle.

Besides, some people have money and still mismanaged their investment in the coin, and hence they lose. So, Bitcoin can't always make the poor rich, but smart people can benefit immensely from it.

odunybiz

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Quote from: Charles-Tim on March 17, 2023, 10:17:49 AM

Can people in poverty invest in bitcoin or invest in anything at all?

It's so hard for a poor person to invest. Even if they have the idea of what to invest in but they have no money to do it. Even if they manage to get the money through friends they will rather end up eating the money than investing.

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Bitcoin helped, that is true, but it helps those that invested in it.

It's only helped those that purchase at the early stage. There are some people that enter the market late and are still in lost till today. Some has sold out of lost and some still hold for profit in the future.

skarais

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Bitcoin cannot solve a country's poverty, but it might solve the financial problems of its users when they realize what its potential is.
Apart from being a currency, bitcoin is an investment asset. After all, not everyone would consider bitcoin as a currency or as an investment asset, and many people still don't realize what bitcoin's potential is in the long term.

I don't think bitcoin has any responsibility for solving a country's poverty, but it is something the government should think about. Employment, that is one of the most likely things to think about to reduce the unemployment rate which will ultimately reduce the poverty rate. Poverty is the government's problem, they are responsible for this problem.

nimogsm

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I do not believe that this is possible.It is up to the public sector and the Ministry of Economy to think about how to improve the well-being of their citizens, namely how to create more jobs, etc.Bitcoin can help save money and maybe even increase capital,but it certainly won’t lift a person out of poverty.He must invest something and must live on something.

Mario Yamasaki

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I think poverty can be reduced but can never be eliminated, poverty seems to be a natural law, if there are poor people who become rich then on the other hand there are rich people who become poor, poor and rich are not a problem in life because between rich and poor of course there are things that are secrets life and need each other.

lousie9

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Quote from: cafee_orange on March 25, 2023, 02:18:18 PM

How can bitcoin end poverty in a country if the people of that country do not know bitcoin and don't know how bitcoin works to get results?.
I think Bitcoin can only change someone's fate from poor to rich if someone can understand how bitcoin works, whether it's trading bitcoin or investing in bitcoin. I think by knowing how, maybe bitcoin will change the life of a person or group for the better

I also agree with the opinion that you convey, to benefit from Bitcoin it all depends on how that person uses it. if that person or group doesn't know and doesn't really know how it works then it won't change anything.
but the most important thing in my opinion Bitcoin is not something that was created to easily eradicate the problem of "poverty" in a country. and I think people who are in real "poverty" definitely can't use Bitcoin to make a profit because to get a decent value from trading and investing Bitcoin will need capital.
whereas people who are truly in "poverty" do not even have enough to buy or buy basic necessities to eat and drink. then how can they take advantage of Bitcoin if they don't have better capital. Even Bitcoin won't be able to help those who can't use it.

cafee_orange

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How can bitcoin end poverty in a country if the people of that country do not know bitcoin and don't know how bitcoin works to get results?.
I think Bitcoin can only change someone's fate from poor to rich if someone can understand how bitcoin works, whether it's trading bitcoin or investing in bitcoin. I think by knowing how, maybe bitcoin will change the life of a person or group for the better

kak uli

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Quote from: Queentoshi on March 24, 2023, 01:38:23 PM

Quote from: kak uli on March 24, 2023, 11:18:25 AM

Without knowing how bitcoin can provide real benefits for someone, it is impossible for Bitcoin to end poverty. unless some people know that by investing and trading in Crypto, Bitcoin in particular it is possible with bitcoin one can end the poverty that haunts us all. but trading and investing in bitcoin has a risk that is vulnerable, it takes precision and observance in trading and investing bitcoin to end poverty

I don't think Bitcoin can end poverty in our nation today, because not everyone knows how Bitcoin works, most people among us just hear the name Bitcoin, they don't know what is use for, if it is for trading and so on. And another problem is that many people mistake all Altcoin to be bitcoins, which has lead many people into lossing alot of money by investing wrongly. With the rate of scammers out there today are now evening making it harder for people to invest sometimes, because they don't want to be rob of their hard earned money.

as I said in a previous post, where someone who doesn't know how bitcoin works will be impossible to benefit from and will even continue to be poor.
it's even true as you say, someone who doesn't know bitcoin and just hear about it always thinks that every cryptocurrency is bitcoin, even though it's very much different. because considering other crypto as bitcoin then that's where someone will be faced with a very big risk.

fuer44

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Quote from: GiftedMAN on March 23, 2023, 05:17:09 PM

Quote from: fuer44 on March 22, 2023, 09:03:15 PM

Not yet, because in what way can bitcoin end poverty? With the technology? It is only part of the progress of the times and doesn't have a big effect on poor countries. Unless bitcoin can create jobs that can be accessed by everyone in the world without exception, then bitcoin can really end poverty.
The question is, in what way can bitcoin provide a job or income to all people in the world?

In as much as Bitcoin has saved many lives from wallowing in poverty then we should take a smart look on what Bitcoin had done to many investors by improving there lifestyles and making them live in a fullfil abode. I think Bitcoin is going to do more with time if we give ourselves the opportunity to invest in Bitcoin no matter how turbulent the market want to be. The wise investors are the one cashing from the market while those that are always in a hurry to take there profits would only make little money from the market.

That's for crypto investors or traders who in this case must already have large capital, devices, a stable internet connection, and that can't be said to be poor. While the topic discussed was "ending poverty", meaning will all the poor people in the world be helped by bitcoin? If we are still discussing investing, trading, mining, in my opinion it will only make rich people more rich and have no effect on the poor.

slashz9

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poor people can't invest because they don't have money, because it's difficult for them to finance their daily lives, how can they invest, but if rich people buy bitcoin and then get profits and distribute them to the poor it might make more sense if something like That.

cryptoknightt

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Of course you can and of course you can't, how do I explain it...
because bitcoin can also make a nation poor.
I think it all depends on the nation's system and its people. You can see big countries that are said to be rich countries. They can keep up with the cryptocurrency era but were almost in a recession. What do you think?

Queentoshi

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Quote from: kak uli on March 24, 2023, 11:18:25 AM

Without knowing how bitcoin can provide real benefits for someone, it is impossible for Bitcoin to end poverty. unless some people know that by investing and trading in Crypto, Bitcoin in particular it is possible with bitcoin one can end the poverty that haunts us all. but trading and investing in bitcoin has a risk that is vulnerable, it takes precision and observance in trading and investing bitcoin to end poverty

I don't think Bitcoin can end poverty in our nation today, because not everyone knows how Bitcoin works, most people among us just hear the name Bitcoin, they don't know what is use for, if it is for trading and so on. And another problem is that many people mistake all Altcoin to be bitcoins, which has lead many people into lossing alot of money by investing wrongly. With the rate of scammers out there today are now evening making it harder for people to invest sometimes, because they don't want to be rob of their hard earned money.

Gayong88

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Quote from: AbuBhakar on March 24, 2023, 11:14:20 AM

Quote from: Dr.Osh on March 24, 2023, 10:16:57 AM

If you want to invest in bitcoin, it's best to use money that you don't use for food and outside of your basic needs. in fact, it would be great if people invested in bitcoin using money that he is free to use. Bitcoin can indeed help poverty, however, if we don't use it wisely, then it can be a negative thing for us.

It’s impossible for this criteria to be met because people on poverty has sufficient money for their food or else they are not categorized in poverty status. Bitcoin is not for people that has no money for spending other than their food because Bitcoin has high volatility that makes poor people gamble for there life. Bitcoin investment is only good when you are using extra money that you can afford to lose.

I’m not depriving poor people but introducing Bitcoin to them will just make their life more miserable when shit happened to their money.

In my opinion introducing Bitcoin to poor people has the potential to provide financial inclusion and improve their access to basic financial services. While there are risks involved, these risks can be mitigated with education and guidance.

kak uli

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Without knowing how bitcoin can provide real benefits for someone, it is impossible for Bitcoin to end poverty. unless some people know that by investing and trading in Crypto, Bitcoin in particular it is possible with bitcoin one can end the poverty that haunts us all. but trading and investing in bitcoin has a risk that is vulnerable, it takes precision and observance in trading and investing bitcoin to end poverty

AbuBhakar

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Quote from: Dr.Osh on March 24, 2023, 10:16:57 AM

If you want to invest in bitcoin, it's best to use money that you don't use for food and outside of your basic needs. in fact, it would be great if people invested in bitcoin using money that he is free to use. Bitcoin can indeed help poverty, however, if we don't use it wisely, then it can be a negative thing for us.

It’s impossible for this criteria to be met because people on poverty has sufficient money for their food or else they are not categorized in poverty status. Bitcoin is not for people that has no money for spending other than their food because Bitcoin has high volatility that makes poor people gamble for there life. Bitcoin investment is only good when you are using extra money that you can afford to lose.

I’m not depriving poor people but introducing Bitcoin to them will just make their life more miserable when shit happened to their money.

Ayers

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Quote from: adzino on March 22, 2023, 08:10:59 PM

No, Bitcoin can't end any poverty. In fact, people suffering from poverty shouldn't be investing in bitcoin. The golden rule of investing in bitcoin and other crypto currencies is to invest what you can afford to lose. Do you think poor people that can't meet their basic needs should be investing in bitcoin? Nope. It will end up harming them more. Bitcoin can sky rocket in few minutes, and it can also fall down in few second and keep falling for a year or two. Things would only get worse for them. They will have to sell their coins at a loss to pay their bills. Bitcoin can't remove poverty from a nation, but yeah, it can help to develop the economy indirectly.

Bitcoin is just a highly volatile asset, it has no function or mission to alleviate poverty for anyone. If we want to get out of poverty, only we can help ourselves out of poverty. Bitcoin offers an opportunity for those who want to escape poverty, and whether they take advantage of it is up to them. Poor people can also invest in bitcoin, they need to get out of their comfort zone and take advantage of the opportunity. There will never be a solution to poverty if those living in poverty only know fear and are unwilling to trade.

Dr.Osh

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based on the story you told, bitcoin can overcome poverty. however, it all depends on how they utilize bitcoins. based on the stories you have, bitcoin really helps. however, it should be realized that bitcoin also carries considerable risks. if we invest in bitcoin in poor condition, then it will only help when the price goes up. however, keep in mind that it will add to the burden when the price drops.
If you want to invest in bitcoin, it's best to use money that you don't use for food and outside of your basic needs. in fact, it would be great if people invested in bitcoin using money that he is free to use. Bitcoin can indeed help poverty, however, if we don't use it wisely, then it can be a negative thing for us.

AicecreaME

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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.

I'm afraid not.

The government is the only one that can end poverty by giving opportunities to those people who are really in need of jobs to put food on their table. But sadly, most of the government doesn't really care about their people, in fact, they are using them when election comes by brainwashing them by their sugarcoated promises. Most of the government are corrupt, that's why poverty cannot be avoided if those greedy politicians are getting elected every single time.

Topic: Do you think Bitcoin can end poverty? In a nation today - page 8. (Read 1760 times)