Topic: Does Bitcoin Help The Poor - page 3. (Read 1782 times)

You've done it right, because the market changes happen in no time. Another thing, poor people invest what is available for the living. Even now we've got people living with a single meal around us. Maybe if the user is lucky, he/she will get profit out of the investment. The large volume investors have the ability to manipulate and make profit out of it. This way it has transformed as an asset for the rich.

It can say that bitcoin makes a difference the destitute, but that's as it were for people who want to undertake to form cash from bitcoin. On the off chance that they fair hold up without doing something, they will not get anything and cannot illuminate their funds. In case they as it were bought bitcoin without doing nothing but hold up, that will not great since they ought to have cash, and they will not get that cash in the event that they don't do something. On the off chance that they can purchase and offer bitcoin, they will make cash from the benefit they can utilize to purchase their every day needs.

I think you are right with bitcoin and other cryptocurrencies, there's no border to rich and poor or middle classes, all people can buy a coin as low as $10 in which I think everyone can buy as long as they have enough money, it is not directly will help the poor but rather let's call them unfortunate can be rich in the future or will have a better future if they will persevere and hard work to learn everything in the crypto with the limited amount they are having.

Bitcoin is for everyone that's right but if you actually read the whitepaper of Bitcoin you will realize the sole reason Bitcoin was built was to empower people above banks and banking system and that is basically to help the poor.

Now lets see how bitcoins actually help the poor.

1- No unwanted fees: Lets be honest, a lot of guys use BTC to save their taxes and fees and I don't blame them because in countries the fees and taxes are beyond understanding.

2- Being our own bank: You don't have to trust banking system which means you hold the money you own.

The unfortunate part is that even though built for the poor, its the rich guys who are now getting into the market and controlling it to quite an extent now.

Bitcoin help the poor who understand its nature and knows how to take advantage it as a user. Given the fact that sending money wherever you are became easy and fast, whats more interesting is it can be an opportunity to earn by investing because of the fluctuations that can make us gain in due time.

However it depends on the level if we say poor, because there are people who dont have any gadgets to use for internet access or who live in isolated areas far from the city. Bitcoin can only help people who are interested to learn and know deeper the technology.

The concept of bitcoin is for everyone is just a relative concept, although it can be used by everyone but when we join here, we will discover an unfair reality, the rich and the people with a certain capital will have more advantages while the poor will never know bitcoin, even if the poor know about bitcoin, what will they do to earn bitcoin when their living conditions have not allowed them to participate, have no money and no tools, everything is just useless for them. Bitcoin is a farm that invests and makes money, the prerequisite to working is capital and time, the poor really lack too many of these factors

Today, in many countries, small and medium-sized businesses do not seek to expand and create new jobs. At least if a businessman implements cryptocurrency in his activities, then this will give him the opportunity to save on many taxes and make it possible for his poorer population to receive some income.

That is one of the reasons why a lot of poor people where I told them about crypto currency said no or I don't know. I told them that even though they will put their money into it, it won't be a 100% profit since it will be a risk. These people are desperate to earn money, that is why I thought it could help them but I think it won't and might make them lose their money and hate me for pushing them there. 

I believe it is definitely going to be something that helps the poor people in the end but it will not be directly. The logic is like this; bitcoin should be closing the gap between the rich and the poor, it should make middle class a thing again, it should cap the profits wealthy people could have because poor people have the same amount of return, it should also prevent the companies from getting bailed out because there is no bailing out in crypto, and at that point regular people should start getting money from corporations more and more.

This isn't like "give poor some money so they are not poor anymore" situation, this is more "cap wealth so that everyone gets a share from available amount" type of fix that is long term.

will not.
Short-term holding is speculation, long-term holding is investment.
The psychology of the poor is destined to speculate.
Speculation means a greater probability of failure.

Well, actually those who hold bitcoin are not poor people because they can afford to invest and also have an internet connection. I don't think that is a poor status that you meant. Perhaps those types of people are in a mid-class type of people that can afford to invest and they had a job to sustain the investment process of bitcoin. However, not all bitcoiners help bitcoin to bring up their financial status, some of them got a problem when they experienced panic selling.

It is true that no one can just get out of poorness just by using crypto currency people are just too lazy when talking about money people are just waiting for something to happen to them they not thinking the other way. If you're talking about money people always thinking about the easiest way to earn money to double their money and if you're poor you're not going to invest your tight budget just to risk in it without any knowledge on what you're doing if those government will share knowledge and so on maybe this crypto currency will be the solution.

Bitcoin can help the poor if those poor people are willing to learn about bitcoin and adopt it. Bitcoin is just easy to use and can really help the poor people if there is someone who educate them about digital currency, the importance and the use of it.

With the same success, you can talk about the effectiveness of studying a certain horse in a spherical vacuum, the study of which will help to avoid poverty, disease and just a bad mood Direct study of bitcoin really will not allow you to eradicate poverty, because the social stratification of society has completely different reasons than just ignorance of the basics of building a blockchain and the ability to conduct transactions with bitcoin.

One thing that bitcoin gives is that it provides the opportunity for these below-average income earners to earn passive income for either short or long-term investment.

In addition, it also provides the opportunity to these poor people to be in the same footing as rich people in terms of accessibility of purchasing such coin. Bitcoin has opened the doors for both these poor and rich people the opportunity to earn significant amount of cash depending on your luck as an investor.
Personally, this forum has enabled me to earn while at the same time focus on my post-graduate studies simultaneously.

How could bitcoin help poor people just by using it? The only way the poor people could be use or have bitcoin is when other people gave them or donated them. They can't invest or buy bitcoin because they can't afford it. Other would say they need to save but what they don't understand is that they are not earning enough money to save money. Most of them don't even have a job.

Bitcoin s for everyone who will open their mind about it. Meaning, it doesn't matter if you are poor or rich belongs type.
But what most important is you understand what bitcoin is ? or it can give a chance to everyone  to earn here in this type of business in
online. Because as far as I know the majority if the community so far here in crypto space that Bitcoin was really helpful to
everyone here all over the world now.

It does simply need for someone to get to work or do get involved  with some effort and investment for someone to earn here on crypto space.It can indeed help but of course

it would really be needing some work for you to grasp those kind of chance or possibilities for you to earn profits.Its true that this would really be a big blockage into those people

who are lacking those primary needs before you can able to engage with crypto or bitcoin itself.This isnt something that all people would be knowledgeable about, even the most
basic info about crypto would already help but due to capacity and capability then it isnt really possible for them to engage easily.

I disagree. The biggest problem for poor people is them actually acquiring crypto and knwoing how to sell it and where. It all sounds good about being your own bank, sending money wherever,etc.. but most of those people don't know or won't bother with crypto until it's not made really, really convenient for everybody.

Now for OP,:

Provides banking services to the unbanked - BTC to conduct business and make electronic transactions.

When I think of poor people it's not the same as you do, this is more middle class you're thinking of. Poor people don't do this so it doesn't help them in any way.


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.

Never heard of this. No one wants to bother with this if they're an immigrant. First generation immigrants are usually poorer people and live with almost no expenses and really doubt that they'd bother with crypto and all that jazz if they're already not into that and bank and wiretransfer fees are usually nothing compared to the standards of a country they're coming from.

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.

It provides means of income? Where should they get crypto in the first place? Buy it? I think they have a lot more important things to do with that money than invest in crypto.

You're either ignorant or delusional if you think poor people have time, will and finance to bother with crypto. Does btc help the poor? I'd say no, but it does help the middle class that might have the knowledge, funds and time to mess with crypto.

In this regarding bitcoin and the crypto currency market helps an individual to store their value in global nomination when their local currency is going down drastically due to inflation and many people from different countries can take advantage of the situation and it will help them if they store their wealth in bitcoin rather than storing them in banks. I does not help the poor but i helps people who has wealth to retain them if your local economy is crashing.