LETS KICK OUT POVERTY USING BITCOIN - page 5.

Mahanton

hero member

Activity: 2730

Merit: 632

Quote from: Mpamaegbu on November 01, 2018, 12:23:40 PM

Quote from: gabmen on October 09, 2018, 08:01:55 AM

Yeah that's asking too much for something that still has a lot of room for change. And poverty goes well beyond banks, loans and other economic challenges. Even if bitcoin somehow closed gap with banks and fiat, i doubt it can be what you think it'll be.

This is partly the argument I advance whenever I see such loose comments. I repeat, bitcoin isn't a get rich quick investment. It's filled up with lots of uncertainty. Yes, a lot of millionaires have been made within the ten years of bitcoin's existence but the truth remains that these ones never believed they would've been millionaires as at the time they indulged in bitcoin. It happened by luck.

And also this has nothing to do to solve out the problem on poverty.It did really make out some millionaires and some people who do able to achieve financial freedom because of crypto but only a few numbers only.
It has nothing to do to solve out poverty yet this is already a global problem that even fiat itself do hardly able to solve out.As long there are greedy and the current financial status or level gaps this problem will still retain.

Mpamaegbu

legendary

Activity: 2716

Merit: 1225

Once a man, twice a child!

Quote from: gabmen on October 09, 2018, 08:01:55 AM

Yeah that's asking too much for something that still has a lot of room for change. And poverty goes well beyond banks, loans and other economic challenges. Even if bitcoin somehow closed gap with banks and fiat, i doubt it can be what you think it'll be.

This is partly the argument I advance whenever I see such loose comments. I repeat, bitcoin isn't a get rich quick investment. It's filled up with lots of uncertainty. Yes, a lot of millionaires have been made within the ten years of bitcoin's existence but the truth remains that these ones never believed they would've been millionaires as at the time they indulged in bitcoin. It happened by luck.

ShadowBits

hero member

Activity: 994

Merit: 504

Quote from: project_delta on October 09, 2018, 05:47:55 AM

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.

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.

cryptoblazter

full member

Activity: 421

Merit: 100

The blockchain technology can significantly revolutionize the world's financial transaction. But, to elimate poverty through this technology, I don't see any strong connection to that. Poverty can be resolved by political will and of course by the poor themselves. Actually, one of the problems of the governments with blockchain technology how could bitcoin transaction be taxed. These taxes are the budget of the government to perform.

reality18

member

Activity: 938

Merit: 14

Earn more with Earn Network

Bitcoin and the Blockchain technology provides the platform which allows its users to generate profit for themselves aside utilizing Bitcoin to purchase items and services. Bitcoin has changed the lives of numerous investors by increasing the profit making margin. Invest in Bitcoin, exercise patience, hold and wait for the price to rise.

jamids

sr. member

Activity: 616

Merit: 252

Quote from: spongegar on October 30, 2018, 09:21:42 PM

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.

spongegar

full member

Activity: 476

Merit: 100

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.

Burogh

member

Activity: 644

Merit: 10

COVIR.IO

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

mazdafunsun

full member

Activity: 490

Merit: 123

Unfortuantely even all those problems are solved ,it wont solve poverty problem ,there are ton of other and much stronger factors in play.
From top of my head, the distrobution of weatlh amongst top 1% or less , the geopolitical situation , the access to education and many more.

roosbit

member

Activity: 893

Merit: 43

Random coins :)

The idea is very welcome but the problem is not everyone thinks bitcoin can be used for good such as humanitarian work as people bad mouth it as being used to finance drug lords and terrorism, until then good luck to bitcoin, the long journey home just begun Tongue

Quote from: rosemary4u on October 20, 2018, 11:58:29 AM

It is very feasible for bitcoin to help alleviate poverty from my many parts of the world. Through blockchain technology, many people can easily track transactions of leaders who are supposed to handle huge finances of the public so that dishonest activities such as corruption would be reduced to the bearest minimum.

As you have put it, imo I think bitcoin not only solves some problems but creates new ones as corrupt people can easily launder their money and get away with it, thanks to altcoins that leave no money trail!

Valer4ik

full member

Activity: 490

Merit: 101

after all, in the winter they were cut off, when everyone rushed to use - and the transactions do not go through, and if they go through with huge commissions.

the developers said there was nothing to be done about it within the blockchain, and suggested that the idea be used to delegate bitcoins to a narrow circle of people (owners of nodes of the lightning network), so that everything was kept, everything within their small kitchen was “forwarded”, and the common meme pool was not clogged with hamsters payments.

Che to do bitcoin is the same for the rich, there is not even enough for all millionaires 😂 let the hamsters own pseudo-romanticas as before, and send the bitcoins to us, and of their own accord.

Those who understood what was the matter, came out of this market in the winter, as soon as the frozen transactions were able to push through, those who are not able to understand - are still sitting and waiting for something ...

Olalomi

member

Activity: 490

Merit: 12

Without mincing much word bitcoin has the capability to reduce poverty to a certain level by people acquiring skills and deploying those skills to earn btc I often came across several jobs offer on service section of this forum although its a highly skillful job offers nevertheless with seriousness and commitment any poverty stricken personal can learn the easiest skill and offers it as services.

Ridwan Fauzi

full member

Activity: 1330

Merit: 147

Quote from: zubrr51 on October 12, 2018, 01:03:51 PM

Bitcoin will indeed overcome poverty, provided there is a clear trading strategy and the presence of certain experiences.

Can a reliable trader justify this statement? I lack confidence when trading bitcoin. There are many reasons that make me not confident, bitcoin price was hard to guess even though I tried hard to convince the predictions that were made but still failed. Especially in the current conditions, within two months the price of bitcoin is very stable, not moving from the price of $6300- $6500 so as I assure traders will have a little chance to get profit.

BagzMM

member

Activity: 378

Merit: 10

In my opinion, their is really a profit using bitcoin. But how can a poor man afford to have internet connection and a computer to access online for bitcoin transactions or participate in various bounty campaign. Maybe those investors who really earn a lot of money in bitcoin will give those unemployed to have jobs so that they could provide the needs of their family.

tegacoll86

newbie

Activity: 77

Merit: 0

Quote from: AccidentalTuber on October 10, 2018, 03:47:24 PM

That may not be possible very easily. People who have a great amount of fiat currency are sure to get a lot of bitcoin. But for the poor it's completely different,which is a difficult thing to change.

I am agree bitcoin can kick poverty but what about the economy?. Bitcoin has much disadvantages using it anonymous can destroy the economy plus risk of scams are everywhere.

farosa

full member

Activity: 506

Merit: 101

1 & 0 😏

Quote from: Morning honor on October 20, 2018, 05:35:29 AM

Yes it is not impossible to make our world better by using cryptocurrency in good ways,.so lets all be helping out each other for us to reach the fortune we wanted to be.,we must support and hopefully our governments will support also for and do their ways in improving more for the better.

Capitalism doesn't want everyone to be rich, there must be poor and rich. As we all know in order to earn while you trade, someone has to lose. If you think about the relationship between these metaphors, you give me a right. Or we should turn to socialism where everyone lives equally.

HabBear

hero member

Activity: 1106

Merit: 637

Quote from: project_delta on October 09, 2018, 05:47:55 AM

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.

There's a flaw in your logic here because there's nothing that stops anyone from using the Dollar or the Euro or the Yuan or the Pound or the Yen or any currencies.

The only limitation - and applies to cryptocurrency as much as fiat currency - is the ability for each person to earn some. And earning power is mostly correlated with one's ability to offer a good or a service to someone else, it's correlated to skills. Bitcoin can't give poor people more skills. And the fact that Bitcoin is divisible to the 100 millionth unit doesn't make a poor person better able to afford the goods or services in their market.

The ONLY way for "Bitcoin" to alleviate poverty is if it creates new ways for people to earn money, new jobs.

rosemary4u

jr. member

Activity: 392

Merit: 1

It is very feasible for bitcoin to help alleviate poverty from my many parts of the world. Through blockchain technology, many people can easily track transactions of leaders who are supposed to handle huge finances of the public so that dishonest activities such as corruption would be reduced to the bearest minimum.

Quidat

hero member

Activity: 2688

Merit: 540

DGbet.fun - Crypto Sportsbook

Quote from: Kittygalore on October 20, 2018, 01:58:44 AM

Quote from: Screamshot on October 09, 2018, 06:45:39 AM

Stating the advantages with out the disadvantages is quite misleading although I am a cryptocurrency enthusiast I still believe that you need to know more about bitcoin you are just stating already known fact.

Then we must encourage everyone bu giving them the knowledge they need to know. Forcme bitcoin will have a great count in eliminating the poverty today. This will give jobs to the unemployed and also add spice to the economy. This will surely happens with enough understanding to the said market.

Bitcoin does exist because Satoshi wants to have a transaction of money all around the world without involving a third party or banks between P2P. I think finishing in college would be the best way to make more people to get a job, but if the government can't hire more graduate students, then they might fall on this level of job.

alex_gr_cc

jr. member

Activity: 322

Merit: 1

Quote from: project_delta on October 09, 2018, 05:47:55 AM

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.

I believe that neither bitcoin nor decentralization as a whole will solve the problem of poverty. Poverty is the inner state of a person. Poverty is affected by place of residence, level of education, diligence, personal motivation.

Topic: LETS KICK OUT POVERTY USING BITCOIN - page 5. (Read 1366 times)