Topic: LETS KICK OUT POVERTY USING BITCOIN - page 8. (Read 1394 times)

Maybe by just creating more jobs for them so they can have resources. Bitcoin itself can’t stop poverty but through its technology maybe we can maximize it to create jobs for them. Though this is really hard to achieve but why not to give it a try, government should support this market.

I love the idea of kicking out poverty. But the whole reason in poverty is because  spend more than they can hodl. Giving a spendable thing to people that are in a hole, isnt a solution to poverty, unless we plan on locking the funds up on their behalf via some smart system protocols allowing the funds to become what they will be worth. The solution.

So if we focus on the thread title "lets kick out poverty using bitcoin" i would
Love to know how exactly this is going to happen because i cant see it?

Those with lots and lots of FIAT can potentially have lots and lots of crypto.
How are those with very limited resources ever going to aquire a notable
amount of bitcoin?

I guess all those three characters may help limit the self doing of corruption but I dont think that it is possible to eliminate the corruption on 100% scale with it. No thats not possible because that is still very much non transparent system out there and surely it can also be corrupted with many many ways. Lets take example of India where the crypto currency use is prohibited and no transactions related to the crypto are allowed in the bank. But people are so smart that they are still using the P2P ways to trade and invest the crypto currency. I guess there is no way one can stop this and thus it is one way or another misuse of the crypto currency to hide their wealth from the taxes and also breaking the rules. So how do you expect that one to overcome everything ??

Criminality and terrorist operation has being on since human existence, Bitcoin as a currency might just enhance there operation because of the ease of  transferring without bank interfernce, every good investment platform always comes up with a challenge , Bitcoin is a currency that can alleviate poverty, base on past market trend, an investment into Bitcoin is an investment that can bring about a financial change for an individual.

I think the possibility to make people equally rich/poor is what scares the government most about bitcoin. Thus they associate it with criminal issues and advocate against it

To add up to the statement inflation is cause by the increasing demand while the production and/or resources decreases/depletes that is why prices increase and not to mention the ever growing population in every country. Also corruption will not be stopped as long as there are people who would want to take advantage to a person or people and as long as that mindset is not destroyed then corruption will just take on another form and history has already proven that. 

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.

The interest rates are not high.The banks charge fees for using their services.They make most of their income with fees and commissions.
Bitcoin can't stop hyperinflation or corruption.They are a part of the capitalist society.
Bitcoin can't replace banks,because the process of giving loans can't be 100% automated.

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.

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.