Does Bitcoin Help The Poor | Bitcointalksearch.org

Twinkledoe

full member

Activity: 1904

Merit: 138

★Bitvest.io★ Play Plinko or Invest!

Quote from: Swordsoffreedom on February 25, 2021, 03:03:32 PM

There is no room for doubt that Bitcoin, directly and indirectly, helps the poor. I know many students who have invested in Bitcoin and they are managing their tuition fees by investing in it Bitcoin. I have even informed many jobless people about Bitcoin and made them interested in investing in it. They have invested in BTC and are now bearing the cost themselves. Which has resulted in the financial development of their families. Their dignity in society has improved a lot. Social development occurs only when the quality of life is improved. The effect of which can be seen on all the rich and poor people of the society.

And I believe not only investing in bitcoin, but just look at here in the forum alone. Don't go too far. These bounties, whether btc-paying or token-paying campaigns, I believe, a lot of people are benefitting from it, whether you are in third world or first world countries, or you are poor or in the middle class status. I have seen here that a lot of these bounty hunters, they are like, it is their main source of income already especially during this pandemic.

sniveel

member

Activity: 431

Merit: 11

Poor people in poor countries don't have any knowledge or information about bitcoin or other cryptocurencies. It helps with those people who have the power to invest on it but I am not saying that it can't really help. People can do bounties or join programs which can they earn rewards such as btc, eth, and tokens without any funds to invest.

Twentyonepaylots

sr. member

Activity: 1918

Merit: 370

Bitcoin is generous to those able to invest in it, and in the case of the impoverished, we are not really sure if they are benefitting from bitcoin since most of them will focus on fulfilling their essentials rather than these things. Still, I believe that with bitcoin's high purchasing power, it will be veey beneficial to everyone when globally adopted.

Quote from: Swordsoffreedom on February 25, 2021, 03:03:32 PM

There is no room for doubt that Bitcoin, directly and indirectly, helps the poor. I know many students who have invested in Bitcoin and they are managing their tuition fees by investing in it Bitcoin. I have even informed many jobless people about Bitcoin and made them interested in investing in it. They have invested in BTC and are now bearing the cost themselves. Which has resulted in the financial development of their families. Their dignity in society has improved a lot. Social development occurs only when the quality of life is improved. The effect of which can be seen on all the rich and poor people of the society.

You have a point, but I think what OP meant when he said "poor" are those who are at the lowest echelons of our society, not those who are relatively able to invest some of their finances in bitcoin.

Swordsoffreedom

legendary

Activity: 2884

Merit: 1115

Leading Crypto Sports Betting & Casino Platform

There is no room for doubt that Bitcoin, directly and indirectly, helps the poor. I know many students who have invested in Bitcoin and they are managing their tuition fees by investing in it Bitcoin. I have even informed many jobless people about Bitcoin and made them interested in investing in it. They have invested in BTC and are now bearing the cost themselves. Which has resulted in the financial development of their families. Their dignity in society has improved a lot. Social development occurs only when the quality of life is improved. The effect of which can be seen on all the rich and poor people of the society.

blackened515

sr. member

Activity: 1218

Merit: 279

Quote from: Sebas.tian on February 21, 2021, 10:34:56 AM

Yes, I was one of the poor bitcoin has helped. I started trading with bitcoin with $4k over 6 years, when i was a fresh graduate who was searching for job opportunity but job was not yet coming at then. To God be the glory between 3 to 4 I was trading with bitcoin, i became a millionaire from my investment .

That's a great news to hear from your step by step investment plan, but do you know the poor can't afford to start with $4k as you did? Of course that's a big amount of money, if the poor can start performing some micro task like airdrop and bounties, it'd would be more better for them to go far as you did, so basically, bitcoin is for those with little sum of money and must have had knowledge about it.

Snappycoco

member

Activity: 534

Merit: 19

Very poor people doesn't have the tools to know bitcoin. I don't think they know this technology as well as giving them the chance to adopt. I believe this

Quote from: Hydrogen on January 20, 2021, 07:52:54 PM

#2 BTC allows immigrants to send money to families back home Immigrants from Cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

is for those low income OFW's who doesn't want to have that big fees from remittance centers. Furthermore, BTC has helped the middle income earners than those who literally have nothing.

Dragonfund

full member

Activity: 546

Merit: 148

Bitcoin doesn't just help the poor, it elevate the poor from their little state of mind and bring them to the state of rich. Imagine buying Bitcoin around $100 for the last 8 years and then you wake up from plumber and then realize that a pair worth about $40k. The joy within you will have no bound. That's why, it's advisable to diversify a portfolio because you never know which one that will outperform the other.
I am also an example, if not holding of bitcoin, trading and doing freelance as a job for my self, I don't know where I would have been for the past 3 years but despite the difficulties, the downtrend, we are still here waxing stronger and hoping for better days ahead.

konflikkastil

member

Activity: 879

Merit: 10

Sovryn - Brings DeFi to Bitcoin

I also have my share of how BTC and other coins has been of help to me to help sort most of my immediate needs and making me to have more to save, spend and also to invest again. I started with less $500 and with my continu- ous persistent I never give up and now. It has paid big time for me. But I want us to know that this BTC helping the poor is not an over night thing, it is never going to happen in just a day. It takes weeks, months and sometim- es years before you can achieve that, but you have to dete- termine never to give up. That is the most important thing.

FlightyPouch

sr. member

Activity: 1638

Merit: 300

Quote from: Peanutswar on February 21, 2021, 11:04:20 AM

I remember about a man who invested in the bitcoin and he holds this coin for a long time and when he thinks this is the right time to make a pull out he gives himself a note to help other people with this income which is a good thing because for this simple life it's quite hard to survive if you don't have any jobs just to sustain all of your needs. I can't find out where I saw that but still, this is a good move to help with the use of the bitcoin.

Here's the thing about poor people. When you give them something like food, they will immediately consume that because they are not like those people that have something to spend and they can save that food. In terms of bitcoin or money, when you give it to them they will use it because they don't have enough money to use for their essentials.

I agree that it will help the mid-people especially the rich but in terms of poor people, I mean the poor people, I don't think so.

Peanutswar

legendary

Activity: 1666

Merit: 1222

Top Crypto Casino

I remember about a man who invested in the bitcoin and he holds this coin for a long time and when he thinks this is the right time to make a pull out he gives himself a note to help other people with this income which is a good thing because for this simple life it's quite hard to survive if you don't have any jobs just to sustain all of your needs. I can't find out where I saw that but still, this is a good move to help with the use of the bitcoin.

Sebas.tian

full member

Activity: 2100

Merit: 174

Yes, I was one of the poor bitcoin has helped. I started trading with bitcoin with $4k over 6 years, when i was a fresh graduate who was searching for job opportunity but job was not yet coming at then. To God be the glory between 3 to 4 I was trading with bitcoin, i became a millionaire from my investment .
Bitcoin is still helping more poor people in the country, who are ready to know all about cryptocurrency and how someone can use it to enrich his self in the country. Many government that legalized cryptocurrency in their country has done everything possible to create a conducive environment for their citizens to become a rich men in the country.

nicecrypto

member

Activity: 1260

Merit: 21

Quote from: Hydrogen on January 20, 2021, 07:52:54 PM

People ask why they should buy and support bitcoin.

One good reason.

Bitcoin helps the poor. Grin

#1 BTC provides banking services to the unbanked Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

#2 BTC allows immigrants to send money to families back home Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

#3 BTC empowers nations with troubled economies like africa, the philippines and venezuela It provides a means of income to help stabilize dwindling economies like venezuela's. Provides options and opportunities to those in africa and the philippines.

There are other examples but I think people might get the gist of this without them.

Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

#1 Even if this is the case, this is a very minute amount of the population cos every one that operates a crypto transaction must have transfer their trading fiat first from their Banks Account.

#2 Little wonder why the Government wants to totally eradicate cryptocurrency

#3 This is my favorite Grin

But also for those that are truly crypto enthusiasts. From the 2020 data, Nigeria ranked highest in crypto trading since the countries Government have not been able to truly provide for the masses by creating jobs but crypto was a way out and has really helped out on that part.

Nolimitz84

sr. member

Activity: 980

Merit: 252

Quote from: Hydrogen on January 20, 2021, 07:52:54 PM

People ask why they should buy and support bitcoin.

One good reason.

Bitcoin helps the poor. Grin

#1 BTC provides banking services to the unbanked Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

#2 BTC allows immigrants to send money to families back home Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

#3 BTC empowers nations with troubled economies like africa, the philippines and venezuela It provides a means of income to help stabilize dwindling economies like venezuela's. Provides options and opportunities to those in africa and the philippines.

There are other examples but I think people might get the gist of this without them.

Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

If we consider bitcoin as an abstract substance, then yes, it can help the poor. If we look at bitcoin in the current phase of its development, we can conclude that no one is specifically engaged in charity with the help of bitcoin. The potential of bitcoin is certainly huge and this is confirmed by today's price - $ 56,000. History is being made before our eyes.

Rexler

member

Activity: 616

Merit: 12

The Standard Protocol - Solving Inflation

Quote from: Hydrogen on January 20, 2021, 07:52:54 PM

#1 BTC provides banking services to the unbanked Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

I totally agree with this, bitcoin provides a fast and transparent banking service for millions of people around the globe, apart from helping the u banked to use banking service, bitcoin has money electronic transactions much more easy and safer, no need to wait for 2-4 business days before the money u sent wil get to the destination, with bitcoin in a matter of minutes(high priority tx) it will reflect in their wallet, which is great waiting 2-4 business days is no longer the faster way to transfer money online, just like when phone texting was invented and killed written letters.

Quote

Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

I remembered one time last year when Nigerians were protesting against their government,and the government blocked their fund raising Bank account they switched over and used bitcoin to raise money for food and other stuffs the protesters needed to keep the protest going until their demands are met by the government.

so98nn

hero member

Activity: 2086

Merit: 603

You have very strong points here. Liked it the way you are imagining bitcoin and poor relationship here. One point to be noted here, people are discussing that if bitcoin is so expensive then how come poor can afford it. Now the thing is you are not abide to buy whole bitcoin but the share of it as per your own capacity. This share can grow tremendously if you hold it wisely.

And what could be the best example other than today’s bitcoin price. It’s massive and it has already made many millionaires today.

The border less transfer is cool thing. It’s very difficulty and expensive task when we do it with traditional banking. It sucks really.

bits4books

sr. member

Activity: 854

Merit: 264

Crypto is not a religion but i like it

I'm sorry, but these points are sucked out of the finger. With the same success I can write that "Bitcoin is helping the criminals."

#1 BTC is Hard to Track
Which allows the criminal world to use it and other coins for their "black" calculations so as not to use fiat money.

#2 BTC allows you to Sell Illegal Goods
Thanks to the anonymity of BTC and mixer services, you can safely buy drugs/weapons/prohibited substances and so on on the black market and at the same time not light up fiat money that is easy to track (easier than cryptocurrencies)

#3 BTC expands the possibilities of the criminal world
Thanks to its decentralization and lack of control, criminals can freely transfer their money between countries without the risk of being noticed by financial supervisory authorities and the police, which greatly simplifies life.

And who's right about that? Do you think that BTC helps the poor, or do I think that BTC helps criminals?

just_Alice

hero member

Activity: 1274

Merit: 622

Those are good points, especially the third one. Indeed, as surprising as it might be, Africa countries like Nigeria and Kenya are some of the top Bitcoin holders. Plus with the recent Jack Dorsey proposal of Bitcoin Development Trust for Africa and India, these regions will be able to benefit from cryptocurrencies and improve their economy even more.

However, I'm not sure about this one:

Quote from: Hydrogen on January 20, 2021, 07:52:54 PM

#1 BTC provides banking services to the unbanked Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

In order to use Bitcoin, you've got be able to afford a smartphone or a laptop, have enough funds to pay for recurrent high transaction fees, and if you have sufficient funds for that, you'll most certainly qualify for at least a few bank accounts in your country, IMO.

cabalism13

legendary

Activity: 1428

Merit: 1166

🤩Finally Married🤩

Quote from: SirLancelot on February 14, 2021, 05:27:53 PM

Some will say that it is free money, but I don’t agree with those words. The only way it can be free is through faucets, but you and me knows very well that you’re not going get anything meaningful through that.

Quite indeed, but still faucets are now just a mini game IMO, it doesn't give you that much especially now. For how many sats will be there for each roll now? 1- 10? LoL. I don't think anyone will try to consider this as an opportunity as to be considered as free money LoL. So yes, it's worthless now, just helps you to kills some time.

judeafante

sr. member

Activity: 2254

Merit: 258

Quote from: Hydrogen on January 20, 2021, 07:52:54 PM

People ask why they should buy and support bitcoin.

One good reason.

Bitcoin helps the poor. Grin

#1 BTC provides banking services to the unbanked Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

#2 BTC allows immigrants to send money to families back home Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

#3 BTC empowers nations with troubled economies like africa, the philippines and venezuela It provides a means of income to help stabilize dwindling economies like venezuela's. Provides options and opportunities to those in africa and the philippines.

There are other examples but I think people might get the gist of this without them.

Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

Point two and three is very true, not only Bitcoin but all the other Cryptocurrency can be used to send and receive and trade their Cryptocurrency to fiat, it's really a big help there are a lot of documents needed and the fee is very high for a small amount, on point number 3 people on weak economy but with strong Cryptocurrency are helping people involve in Cryptocurrency through trading and bounty campaign.

SirLancelot

hero member

Activity: 2576

Merit: 582

Leading Crypto Sports Betting & Casino Platform

Just as Bitmover said, it’s helping the mid-class people, and I will also add that it is helping the rich to get richer. And the point where you said that it provides a means of income, do you mean as an investment? If that’s what you mean, then, because it provides a means as an investment. If not that, I don’t see any other means.

Some will say that it is free money, but I don’t agree with those words. The only way it can be free is through faucets, but you and me knows very well that you’re not going get anything meaningful through that.

Topic: Does Bitcoin Help The Poor (Read 1782 times)