Does Bitcoin Help The Poor - page 4.

AicecreaME

sr. member

Activity: 2394

Merit: 454

Quote from: eXPHorizon on February 04, 2021, 01:22:41 AM

Short answer.

No

This opinion might change in time, who knows.

I'll be happy if you'll provide further explanation that will support your answer about Bitcoin not helping the poor.

Here is my opinion on your answer. Bitcoin can help anyone, no matter what life status you have in the community, the problem is, everyone doesn't have smart phones, laptop, and internet to access and buy Bitcoin, also they are now knowledgeable in that kind of stuff so it's a barrier for those who are unfortunate. That's why a helping hand is needed, as a stepping stone for the poor to know Bitcoin and to know how to earn them is different ways, without it, obviously, it can't help the poor of course.

Webetcoins

hero member

Activity: 2016

Merit: 540

Leading Crypto Sports Betting & Casino Platform

Quote from: Alucard1 on February 04, 2021, 04:58:23 AM

In some parts, bitcoin may help the poor through a charity that would be the meaning of what you called "bitcoin helps poor people, just like a signature we have in the forum, there is a charity that helps people in the Philippines in the local section. If you mean, bitcoin may help people from being poor then that is possible but it still depends on the person and the resources or tools they have Some countries are still not well-familiar with technologies and no stable internet connection which is the most important things you should have before exploring the world of bitcoin.

I do not think that is what the question means, it is more about if bitcoin is more inclined to help the poor or help the rich. For example if you are in the fiat world, a company with 100 billion dollars networth can do whatever they want, if they end up losing money because of a mistake they did, government will give them a tax cut or give them even money, and that company will be saved whereas someone who has no money at all could get in debt and government will not care about it, which means fiat world is inclined to help the rich people more. The question here is that if bitcoin is reverse of that.

I think it is not helping the poor more than it helps the rich, it is just a regular thing that has nothing to do with poor or rich, it is equal distance to both of them, which seems like helps the poor because rich are used to getting help but it is not really helping any of them.

Alfreed

jr. member

Activity: 92

Merit: 4

Quote from: shoreno on January 27, 2021, 06:22:14 PM

Quote from: Alfreed on January 27, 2021, 11:22:54 AM

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

They are not poor people if they have opportunity to buy even a part of Bitcoin. Poor are those who had never heard about crypto, use Nokia 1100 or even wire phones and never had computers. They are really poor and Bitcoin has no opportunity to help them. Crypto can help only clever traders or miners to earn some money

if i say that i can buy btc but my money is only 1 dollar , do you think i am rich ? no . not all who buy btc are rich and also not those that who own a nokia phones are poor .

bitcoin is not a government , btc dont have a people behind it so how can btc distribute the help . the only way i think btc can help is when people also join btc , they can get help by earning profits .

No but you can buy bitcoins and they can't, simply because they don't have the physical capability, you see ?

kpierce77

legendary

Activity: 1540

Merit: 1002

That's right, and the most important point is that bitcoin is able to provide bank services to almost anyone in the world who may not be qualified to open an account. it is true that every place or country has a different standard of living, but I think bitcoin has become a very good and effective solution when compared to before bitcoin.

Bitcoin is also freedom, which almost anyone can use as long as there is internet. bitcoin provides financial services that should be provided by banks by charging fees, whereas with bitcoin we can get the same financial services as banks for a much cheaper fee and even barely pay these fees. I guess that's what it means to help the poor, by bringing financial banking services to everyone without having to go through confusing bank structures and high fees.

Renampun

sr. member

Activity: 2338

Merit: 365

Bitcoin can help the poor? I think of course it can...
in some countries, the value of Bitcoin against their currency is very large, for example in African countries. if we look at the current value of Bitcoin against USD then it is very large if we use it in an African country.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: Issa56 on February 01, 2021, 08:19:39 PM

I don't really believe bitcoin helps the poor there are lots of countries where the poor people around there don't even have access to electricity, internet, and even mobile phone self. Most of those people those not even know about bitcoin due to there location and lack of information and communication, There are people that don't even have money to invest in bitcoin or to trade bitcoin so how will they benefit, that's why I don't believe bitcoin is really helping the poor.

There are different levels of poverty, for the lowest levels that have no access to electricity and the Internet there is nothing bitcoin can do for them, it is unfortunate but it is the truth, however for those that do not have the best living standards but still have access to a smartphone, electricity and the Internet bitcoin can be a great equalizer as it allows them to have a way to receive funds all over the world and compete in the job market for better opportunities and improve their future in that way.

Jemzx00

hero member

Activity: 1484

Merit: 547

Pugs are the best!

Quote from: eXPHorizon on February 04, 2021, 01:22:41 AM

Short answer.

No

This opinion might change in time, who knows.

Bitcoin can help poor people but it depends. If you think about it, Bitcoin is a digital currency which poor people mostly doesn't have access to as it requires internet and handlers or devices such as Phones, and Computers. But in some ways, it can help people to earn and manage their financial for students and jobless that lived in underlying countries such as Philippines. Also, the are some charity program through bitcoin and other crypto that would help poor people.
For me, Bitcoin can help poor people but only those who are capable to access it and it can act as a medium where community can provide donations anonymously to help poor people.

shiming

full member

Activity: 798

Merit: 101

Bitcoin first appeared on the Internet. In those poor places in Africa, I don’t think they will have computers, let alone the Internet. I think many of them will not be exposed to Bitcoin. If you want Bitcoin to improve them, I think they need to improve their living conditions first.

Alucard1

full member

Activity: 574

Merit: 125

In some parts, bitcoin may help the poor through a charity that would be the meaning of what you called "bitcoin helps poor people, just like a signature we have in the forum, there is a charity that helps people in the Philippines in the local section. If you mean, bitcoin may help people from being poor then that is possible but it still depends on the person and the resources or tools they have Some countries are still not well-familiar with technologies and no stable internet connection which is the most important things you should have before exploring the world of bitcoin.

eXPHorizon

full member

Activity: 1218

Merit: 132

Precision Beats Power and Timing Beats Speed.

Short answer.

No

This opinion might change in time, who knows.

dezoel

legendary

Activity: 2044

Merit: 1075

Leading Crypto Sports Betting & Casino Platform

Quote from: Karartma1 on February 02, 2021, 04:41:41 AM

Quote from: dezoel on February 01, 2021, 06:37:55 AM

I live in one of those nations, 30 dollars may not be good enough for one week of feeding a family because things are quite expensive here but the salaries are that low and even though we do not earn more than 40-50 bucks a week, we pay more than 30 dollars a week just on food, so finance is horrible here and there are people starving and even committing suicide for being too poor and can't find a way out.

However I have learned long time ago that if you can work and have a normal life, as in if you have a job at a place with a salary, that means whatever you earn from crypto world would be side income that you do not put into regular life. I had horrible days, I had days when I literally didn't have money for dinner, I just slept early without eating, but yet I didn't cashed my coins out, I just used my salary for expenses and I used crypto income for investment and now I have a decent amount thanks to that, I am going to keep investing until I can buy a home.

Truth coming from your words. Those days and those circumstances allowed you to learn a difficult lesson but you made it through which is all what matters. I don't think bitcoin was designed neither to help the poor nor to facilitate the richer, even though I am sure that if you understand why it was created in the first place you can do something good about, which is your case. Keep it up, slowly stacking sats and prepare for the future as I believe the best is yet to come.

Those hard days were basically forced upon me by the rich people, while they did risky investments and crashed and instead of bankrupting and losing just one night of sleep, they just got bailed out by the governments and they got free money from them, and they got tax cuts from them which basically means that we are in a situation where CEO's that caused us to be poor got bonuses for not allowing to bankrupt whereas we didn't know where the next meal was coming from. That made me open my eyes and as soon as I found bitcoin in early 2013 I jumped into it and never looked back since.

I am not here so I can make more fiat, I am here because I want to see the day when I can spend only crypto and never have to deal with fiat ever again. No matter what I want to pay or what I want to spend my money on, I want to do it with crypto. And hence I am holding until I can't anymore.

blckhawk

sr. member

Activity: 1526

Merit: 332

Quote from: Kong Hey Pakboy on February 02, 2021, 07:01:54 AM

Quote from: Issa56 on February 01, 2021, 08:19:39 PM

I don't really believe bitcoin helps the poor there are lots of countries where the poor people around there don't even have access to electricity, internet, and even mobile phone self. Most of those people those not even know about bitcoin due to there location and lack of information and communication, There are people that don't even have money to invest in bitcoin or to trade bitcoin so how will they benefit, that's why I don't believe bitcoin is really helping the poor.

I also agree with your statement, especially if we are talking about the poor (no money, no food regularly-- in a simple terms can't sustain themselves or their families). We all know the initial requirements if we wanted to know about bitcoin and crypto which are devices (computers or smartphones) and internet connection. Bitcoin does not help the poor UNLESS there will be someone who is familiar with bitcoin and help those people in need in a way they will learn how to invest and trade cryptocurrencies. It's an indirect impact, and it will still go down to the subject humanity. Bitcoin is a mere currency, it is up to us who use it on how we will handle it.

Well, you two have a point because how poor people supposed to use Bitcoin if they have no tools upon accessing it. The money they have isn't enough for them to acquire these devices. But I guess this will vary on the country we are living in like if you living in a third world country then I'd say that Bitcoin will not be totally helpful for poor people as the money they have is only enough for their daily livings but in a case of a rich country like the USA, Bitcoin could somehow be helpful. I heard that there are poor people who use Bitcoin to receive a donation and such.

Theresajing0

newbie

Activity: 13

Merit: 0

Bill Gates: Digital currency will help the poor, more than 1,500 restaurants can order meals with Bitcoin，while exempting tax and handling fees, it can also avoid inflation

Kong Hey Pakboy

member

Activity: 1120

Merit: 68

Quote from: Issa56 on February 01, 2021, 08:19:39 PM

I don't really believe bitcoin helps the poor there are lots of countries where the poor people around there don't even have access to electricity, internet, and even mobile phone self. Most of those people those not even know about bitcoin due to there location and lack of information and communication, There are people that don't even have money to invest in bitcoin or to trade bitcoin so how will they benefit, that's why I don't believe bitcoin is really helping the poor.

I also agree with your statement, especially if we are talking about the poor (no money, no food regularly-- in a simple terms can't sustain themselves or their families). We all know the initial requirements if we wanted to know about bitcoin and crypto which are devices (computers or smartphones) and internet connection. Bitcoin does not help the poor UNLESS there will be someone who is familiar with bitcoin and help those people in need in a way they will learn how to invest and trade cryptocurrencies. It's an indirect impact, and it will still go down to the subject humanity. Bitcoin is a mere currency, it is up to us who use it on how we will handle it.

Karartma1

legendary

Activity: 2310

Merit: 1422

Quote from: dezoel on February 01, 2021, 06:37:55 AM

Quote from: FlightyPouch on January 29, 2021, 07:46:27 PM

I don't know where you live but if you are in a third world country, I don't think you are seeing those people. All of the money they are earning is going all around to their family. They are more focused on earning for their family not just because it is not enough but because that is the only thing they can do. Most of the people I know can't even buy things for themselves. They work themselves to death just to give their family food.

$30 in our country is a huge amount that can feed their family in a week. They don't have any technologies in their houses except for radios and keypad phones that are given by their neighbor. They aren't literate about technologies. To be honest, I tried talking to them about investing, as they say, teach a man how to fish, something like that but he said that their funds are not even enough to go around the family, obviously, he can't afford to lose it to investments because, to be honest, we are not all like you that earned so quickly. It will not be the same thing for all of us that would earn the same as you.

I live in one of those nations, 30 dollars may not be good enough for one week of feeding a family because things are quite expensive here but the salaries are that low and even though we do not earn more than 40-50 bucks a week, we pay more than 30 dollars a week just on food, so finance is horrible here and there are people starving and even committing suicide for being too poor and can't find a way out.

However I have learned long time ago that if you can work and have a normal life, as in if you have a job at a place with a salary, that means whatever you earn from crypto world would be side income that you do not put into regular life. I had horrible days, I had days when I literally didn't have money for dinner, I just slept early without eating, but yet I didn't cashed my coins out, I just used my salary for expenses and I used crypto income for investment and now I have a decent amount thanks to that, I am going to keep investing until I can buy a home.

Truth coming from your words. Those days and those circumstances allowed you to learn a difficult lesson but you made it through which is all what matters. I don't think bitcoin was designed neither to help the poor nor to facilitate the richer, even though I am sure that if you understand why it was created in the first place you can do something good about, which is your case. Keep it up, slowly stacking sats and prepare for the future as I believe the best is yet to come.

Bagshlvp

newbie

Activity: 14

Merit: 0

In the past few years, buying Bitcoin may gain a lot of benefits and may help the poor.

GloriaG00586

newbie

Activity: 8

Merit: 0

In Venezuela, in March 2019, the price of a cup of coffee rose 373,000% from a year ago.

Many Venezuelans are exchanging their Bolivar coins into Bitcoin so they can hold something of value. Therefore, it is not surprising that the popularity of Bitcoin in Venezuela can soar, and sometimes the transaction volume of Bitcoin in these regions can even rival that of the United States.

nomenclatur

sr. member

Activity: 1344

Merit: 250

bitcoin made a lot of big changes to the economy in developing countries, many poor people are helped by bitcoin and it has made the economy more developed, most importantly bitcoin can lift the economy of all people around the world until now bitcoin has helped many people during the current pandemic. this is proof that bitcoin is a solution to ease payments between countries.

AngelaT34534

newbie

Activity: 23

Merit: 0

Bitcoin Cash, as an encrypted digital currency dedicated to becoming the best currency in the world, can not only be easily used by 20% of the world’s rich, but also very friendly to the 80% of the poor.

Prettyjing3

newbie

Activity: 14

Merit: 0

A Professor of Massachusetts Institute of Technology: Bitcoin can help the US financial system to be more stable and make it easier for the poor to obtain financial services

Topic: Does Bitcoin Help The Poor - page 4. (Read 1782 times)