Topic: LETS KICK OUT POVERTY USING BITCOIN - page 4. (Read 1366 times)
How, in practice, bitcoin will make a poor man rich?If a poor person doesn't even have a computer to access the Internet.A lot of people live very happily and richly and not having bitcoin in their wallet.They have land and a household.I believe to overcome poverty bitcoin is not needed.The main thing that everyone wanted to develop and go to his goal by any means.And wealth will come and so.
We can now fight poverty by joining bitcoin and utilized the oppurtunity in which bitcoin had given to the people who believe in crypto currency and bitcoin itself, so if we work hard for cryptos and bitcoin , then I think that we can achieve good outcome from bitcoin technology in order to overcome poverty.
crypto especially bitcoin is for everyone not limited to social class because it doesn't require a lot of extra fees to start crypro. bitcoin and altcoin are more transparent and eliminate boundaries between countries and third parties in trading activities so that they are more effective and efficient
This a good post but somehow I do believe something is missing in your idea. The hyperinflation thing might have made sense but I honestly doubt if bitcoin will be able to help out with its limited number. All things that go up must come down as a saying goes. What could happen to bitcoin being used up? Well of course it is very simple to analyze. When bitcoin price go up, those who have already made a gain will sell their coins and exchange it for their native currency and as a result the prices of bitcoin will drop as somebody dumps during the time when bitcoin price is high. As a result those who have just bought there bitcoin will suffer from a loss of value. So it might have caused others to become rich while the missing part is, somebody is losing as well. So the question is how do you think will it help the poor in this manner. I think it is more selective and subjective so helping the poor in general is something it might not be able to do.
The problem of poverty is not a problem that money can solve!
Poverty is a problem that the government should solve, and BTC is just some tool to solve financial problems!
Institutional problems money can't be solved!
Poverty is a problem that the government should solve, and BTC is just some tool to solve financial problems!
Institutional problems money can't be solved!
poverty will be reduced if Bitcoin and Altcoin are utilized, but to get there I think it's still a long time ago because we know that until now the government is still unable to legalize cryptocurrencies for various reasons, such as fear of being misused for money laundering or other financial crime.
We need to understand that bitcoin and altcoins are just basically payment tools and utility tools depending on how they are fashioned, and in such cases, even though they may be disrupting a lot of things eventually, the idea of kicking out poverty is not something they will just solve pretty much like that, and they cannot even solve it unless actually utilized effectively with some other factors added when it comes to governmental policies, innovations and creation within the country itself which in this case, there will be more jobs, and people will tend to do well for themselves over time. Cryptocurrency is not going to do all of that alone. To some extent cryptocurrency will provide a form of living for some people and at the see time too much of it can cause inflation as anybody can have his/her currency supported by shit use case. BTC is good at theoment because it has touched some peoples life due to its volatility but what happens when there's no more volatility to BTC? When no more profit is gotten from trading or investing in utility coins?
Bitcoin cannot eliminate the poverty itself. There has to be some skills in a person which a person can use to earn or trade bitcoins. With no skills and hard work, even bitcoin cannot change the person's life.
Organizations, Government and individuals having being trying to fight poverty with less result over years, It takes an individual to personally decide to liberate his or herself from poverty by grabbing the opportunities around. Bitcoin have open the door of wealth to the whole world, it is now left for those that are ready to say goodbye to poverty to embrace bitcoin. So many opportunities is embedded in bitcoin.
Stepping out of poverty is a decision of the person involved. All we can do is to create awareness as often as possible but the decision cannot be made for anyone. The best you can do for yourself is to take action now and stop doubting.
Even if you decide to create awareness now, does not change the fact that cryptocurrency is just one thing you have to realize that it is all about each person and what the country has provided for each citizens of the country to build on.No matter how well people tend to want to utilize cryptocurrencies, in the absence of infrastructure and basic amenities, no thriving industries, and not a conducive space for business, it really will not change anything at all in the end. Sure, it is always a decision for each person and now that at least you can even go the freelance way and earn something for yourself in the absence of job in your country, but believe me when we are talking on the global scale, that is not enough.
To some extent cryptocurrency will provide a form of living for some people and at the see time too much of it can cause inflation as anybody can have his/her currency supported by shit use case. BTC is good at theoment because it has touched some peoples life due to its volatility but what happens when there's no more volatility to BTC? When no more profit is gotten from trading or investing in utility coins?
Actually we can manage to kickout the poverty using bitcoin, But we need to teach them to those people are in need. If they willing to learn on how earn bitcoin. But if not we must to give some money if we have some btc in our wallet. Maybe the one to give that are those have many bitcoin holding until now.
I think bitcoin can reducing poverty in the world if bitcoin system applied in monetary system. Fixed supply money and transparancy in ledger will reducing inflation and reducing corruption. I am believe source of poverty is corruption
I really do not think bitcoin itself can just help reduce poverty in the world, and even if it helps some people out economically, it is just going to be the few that are early adopters in terms of the value increase in the long run and that is if they are still holding till then.Bitcoin is not just going to perform some magic and simply just make everyone rich, and considering that as we keep approaching mass adoption, the more stable and matured the market gets, so at the end, it will all still be limited to those who are able to tap pretty fast into the future.
Government should implementing bitcoin system. Bitcoin creating transparant system on ledger and with blockchain system, government can reducing corruption because the transparancy
I really like to think that Bitcoin could solve the world's poverty problem when in truth this problem was caused by capitalism. Capitalism mames it possible for people to horde in resources that are very much limited to start with to a population that is nearing 5 billion. We should really look into a socialistic solution to this.
While we want bitcoin to be one of the solution to poverty, I think it would only be able to help in terms of somehow improving the financial condition of some people but if you are thinking of poverty as a whole then the solution to this would be to address the root cause of the problem and it would be the greediness of humans which is hard to solve because there would always be people who are hungry for power and money even if they have already enough. They are the kind of people who are not satisfied with what they have.
I think its not even about helping people but this is the only real way I see Bitcoin succeeding for itself for everyone rich or poor. BIT being an essential part of the economy, that its the smallest parts that come with the greatest growth even while ironical often being exchanged by the smallest and poorest parts of the economy but also there are literally billions of poor or workers almost nothing left after paying bills. BTC needs to be part of that bit economy for the smallest amounts to succeed so I support the spirit of your post.
Seems well structured and deserves some merit.
It has to be said that high rates relate to risk and cost and thats normal for anywhere. But if BTC were able to improve efficiency for the smallest scale of value exchange, I think its going to help alot and gain back alot of growth from those participants.
Hyper is when money is a burden not useful anymore. But even normal inflation is causing losses to people, even 1% inflation every month is a failing situation for that currency. This will require replacement and an alternative and that scenario is forthcoming very likely in every country of the world not just failed democracies
Seems well structured and deserves some merit.
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a lot of useful services but with high interest rates.
It has to be said that high rates relate to risk and cost and thats normal for anywhere. But if BTC were able to improve efficiency for the smallest scale of value exchange, I think its going to help alot and gain back alot of growth from those participants.
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-Hyper Inflation
Hyper is when money is a burden not useful anymore. But even normal inflation is causing losses to people, even 1% inflation every month is a failing situation for that currency. This will require replacement and an alternative and that scenario is forthcoming very likely in every country of the world not just failed democracies
Maybe kicking out poverty was originally part of the bitcoin/cryptocurrency agenda but it has since been impeded by the current hold/setback placed on the growth of the market. We have a lot of issues militating against the future of bitcoin but somehow, bitcoin has held its ground till date and I am sure it will get back on track again
Of course not a few people are against Bitcoin, but i think that is normal. lucky for us to know crptocurrency, so that it can improve the family economy. and for those who cannot accept it, hopefully soon they can think rationally in the future 
Maybe kicking out poverty was originally part of the bitcoin/cryptocurrency agenda but it has since been impeded by the current hold/setback placed on the growth of the market. We have a lot of issues militating against the future of bitcoin but somehow, bitcoin has held its ground till date and I am sure it will get back on track again
Stepping out of poverty is a decision of the person involved. All we can do is to create awareness as often as possible but the decision cannot be made for anyone. The best you can do for yourself is to take action now and stop doubting.
poverty will be reduced if Bitcoin and Altcoin are utilized, but to get there I think it's still a long time ago because we know that until now the government is still unable to legalize cryptocurrencies for various reasons, such as fear of being misused for money laundering or other financial crime.
Some people claim that Bitcoin will revolutionise the world of centralised systems and on the other side some people think that bitcoin is related to criminal activities. But what is it really about Bitcoin that has led all of us to pay attention to it? For decades we have been fighting for the alleviation of poverty but with the current financial system in order, it is a dream to make everyone feel inclusive especially the ones who have been ignored by the current banking system for a long time. It's time to let the people know that they have this revolutionary technology in their hands that could end their search for “how to alleviate poverty”?
Bitcoin has the potential to do that. Poverty is mainly caused by these three phenomenons:
Hyper Inflation
Corruption
Financial Exclusion
-Hyper Inflation
Inflation occurs when fiat notes are floated in the market but are not backed up by value. Hence hyper inflation is when the prices increase to an uncontrollable level. Bitcoin are limited in number. When the amount of currency being floated in the market remains limited, there are least chances of inflation and almost none for hyperinflation.
-Corruption
Corruption occurs when a system lacks transparency and efficiency. Bitcoin uses a decentralized peer-to-peer transaction system where every transaction is recorded in the system and no transaction can be made without being verified by the mediator (miners). Blockchain consists of an ongoing chain of blocks that act as ledgers for every transaction. These blocks are there for ever. The records can never be deleted or tempered. This process ensures transparency and enhances reliability.
-Financial Exclusion
Financial institutes, specifically banks, at present provide a lot of useful services but with high interest rates. These services then become meaningless or unattainable for the middle class people and impossible to avail for the poorer. Hence the poor are never able to attain any of the banking or financial services due to high rates of interest. Bitcoin has a solution to this as well. Bitcoin do not require you to pay any high interests or transaction fees to avail financial services. You simply join in and have a software wallet (or any other as there a number of different wallets to keep your money). You just need to pay a very little fee on transactions otherwise no charges. Hence poor people are not excluded from the system.
The best part of bitcoin is that it doesn't stop anyone from utilizing it, like internet or a radio. It has no limitations to its implementation.
Bitcoin has the potential to do that. Poverty is mainly caused by these three phenomenons:
Hyper Inflation
Corruption
Financial Exclusion
-Hyper Inflation
Inflation occurs when fiat notes are floated in the market but are not backed up by value. Hence hyper inflation is when the prices increase to an uncontrollable level. Bitcoin are limited in number. When the amount of currency being floated in the market remains limited, there are least chances of inflation and almost none for hyperinflation.
-Corruption
Corruption occurs when a system lacks transparency and efficiency. Bitcoin uses a decentralized peer-to-peer transaction system where every transaction is recorded in the system and no transaction can be made without being verified by the mediator (miners). Blockchain consists of an ongoing chain of blocks that act as ledgers for every transaction. These blocks are there for ever. The records can never be deleted or tempered. This process ensures transparency and enhances reliability.
-Financial Exclusion
Financial institutes, specifically banks, at present provide a lot of useful services but with high interest rates. These services then become meaningless or unattainable for the middle class people and impossible to avail for the poorer. Hence the poor are never able to attain any of the banking or financial services due to high rates of interest. Bitcoin has a solution to this as well. Bitcoin do not require you to pay any high interests or transaction fees to avail financial services. You simply join in and have a software wallet (or any other as there a number of different wallets to keep your money). You just need to pay a very little fee on transactions otherwise no charges. Hence poor people are not excluded from the system.
The best part of bitcoin is that it doesn't stop anyone from utilizing it, like internet or a radio. It has no limitations to its implementation.
Poverty cannot be ended with anything if the ones who are in poverty doesn't even go and work themselves out. And the balance of the world will be ruin if poverty will be gone.
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