Topic: The future of btc in reducing poverty and inequality (Read 146 times)
Thanks Guys for your reply .
Bitcoin could really help reduce poverty and inequality, but it's not a simple fix. It has some great possibilities, but also some big problems.
The good things are that Bitcoin could help people who don't have bank accounts get access to money. This would let small businesses grow and people could easily send money to each other, even across countries. Sending money home to family would be cheaper and easier. It could also make things more transparent, so there's less chance of corruption. Basically, it could give people more control over their own money.
The good things are that Bitcoin could help people who don't have bank accounts get access to money. This would let small businesses grow and people could easily send money to each other, even across countries. Sending money home to family would be cheaper and easier. It could also make things more transparent, so there's less chance of corruption. Basically, it could give people more control over their own money.
Anybody that can own Bitcoin can have access to a bank account hence it's not an excuse to say you didn't have access to bank account and that's why you're poor. Having access to bank account doesn't make you rich too hence it doesn't make any sense what you're saying. Bitcoin investors had gained a lot from Bitcoin and it has help many of them to acquire wealth but before they invested in Bitcoin, they were already not poor but have some money to invest. It could be that they weren't that wealthy but you won't call them poor because anybody that's poor, will find it very difficult to remove money to invest into Bitcoin when they haven't eaten and done some other things that the money can be useful for. You can't make money from.Bitcoin without investing some money first hence Bitcoin isn't what you think it's, with your explanation.
I see bitcoin as a powerful tool that could truly open doors for people who are excluded from traditional banking systems. It could give small businesses a chance to thrive and sending money across borders would be more affordable. But for btc to reach its full potential, we need to address its volatility, lack of internet access in some areas, and ensure strong regulations. It's not a quick fix but with the rights steps, it could be a game changer for many
And bitcoin is not exactly reducing poverty but it helps to empower interested people and this is one of the reasons when op thinks bitcoin reduces poverty which is not true become the rate at which poverty is increasing you won't even believe it because there is a lot of things happening and the rise in poverty is as a result of increase in commodity and people are unable to buy and it keeps increasing and lack of jobs have rendered a lot of people in relevant this are factors that needs to be addressed.
And even if you want to invest in bitcoin you will need capital because without capital there is nothing that can be done about investing when you don't have money because money matters a lot it's easy when you have capital amd other accessories to invest invest in bitcoin and capital is even one of the key resources that is needed when you want to invest in bitcoin. And once's does are available then knowledge on how to invest.
Yes Bitcoin can because it works more responsibly to make the rich richer, which means that the more Bitcoin that person deposits with money, the more benefits Bitcoin will generate. But for a poor person, it creates less opportunity, because he is afraid to take risks. Bitcoin risk is the only biggest solution, the person who can take risks and invest in Bitcoin and hold it for a long time is the only one who is right to go to the top of success.
Because that person never shows enough interest to invest in Bitcoin with little money,( you can follow the MicroStrategy company as a rich person. They have enough money they have been able to hold a total of 471107), because they are not afraid to take risks they have enough money. However, there are some strategies for a poor person to be successful, and find the solution here https://bitcointalksearch.org/topic/buy-the-dip-and-hodl-5132720
Because that person never shows enough interest to invest in Bitcoin with little money,( you can follow the MicroStrategy company as a rich person. They have enough money they have been able to hold a total of 471107), because they are not afraid to take risks they have enough money. However, there are some strategies for a poor person to be successful, and find the solution here https://bitcointalksearch.org/topic/buy-the-dip-and-hodl-5132720
"bitcoin could"
well yes could, but in the last decade it has been seen that the development and coding has been changing bitcoin to be more institutional friendly and less accessible to the poor, uneducated, unbanked parts of the world
How will the poor be able to afford bitcoin even if bitcoin price is still low? That is not possible unless they have the money to buy. well yes could, but in the last decade it has been seen that the development and coding has been changing bitcoin to be more institutional friendly and less accessible to the poor, uneducated, unbanked parts of the world
its not about bitcoins market price. bitcoin had the advantage that people can take advantage of bitcoins market price deflationary nature.. because people could just buy small parts of a bitcoin(sats), where even at sat level the deflation continues to be advantageous.. the real problem is that the transaction fee's have become higher than some countries minimum wage cost of 1 hour-1day which is where it prices people out of bitcoin utility.. the fee's not the market
Bitcoin could really help reduce poverty and inequality, but it's not a simple fix. It has some great possibilities, but also some big problems.
It's not Bitcoin responsibility to fix povery and inequality. It's government responsibility and if you feel they don't do it well, raise your complain to government, through media and in your votes them in or out.Bitcoin is a decentralized blockchain that is censorship-resistant and it is fair distributed for everyone who are ready to mine it or buy it. However, Bitcoin is not like a fair giveaway distribution to all people globally, so if you want to have it, a purchase is mandatory. Exemption is in the past, with Bitcoin faucets but value in the past is smaller than now.
Poverty can not be eliminated by Bitcoin. Inequality can not be ended by Bitcoin too.
A famous Bitcoin faucet.
Get 5 free bitcoins from freebitcoins.appspot.com
http://web.archive.org/web/20100703032414/http://freebitcoins.appspot.com/
So, Bitcoin could be helpful, but it's not a miracle cure for poverty.
This is contrary to what some people may think and the idea they may have about bitcoins. The best benefit I have had from my knowledge of bitcoin is not just the opportunity to invest, but the exposure it has given me to the digital space. I have more believe now than before when I hear that the future is digital. The exposure puts you in a position to know that with more knowledge, you can be making more money from the digital space than someone working in an office. 
So, Bitcoin could be helpful, but it's not a miracle cure for poverty. We need to make sure everyone has access to the technology, that the rules are clear, and that people know how to use it safely. It needs to work alongside other ways to fight poverty, not replace them.so what are your taught and opinion on this topic
If Bitcoin remained as a parallel currency system like it was a couple of years ago, I would have said that Bitcoin can give a shot to help the poorer section of the society. Not anymore!
Bitcoin now has become a cash cow for the corporates. Also many governments are now actively thinking about adding a reserve in Bitcoin. So the wealthy section of the society is now a part of the game and it will ensure that riches get richer and poors get poorer. Bitcoin cannot help easing the inequality anymore.
I really don't understand how people equate Bitcoin as a saviour of all.
Bitcoin wasn't created and doesn't really combat poverty.
Bitcoin wasn't created and doesn't really combat poverty.
Bitcoin stops you getting poor slowly. I don’t think that can be argued, it combats inflation which over years will erode your purchasing power. Bitcoin does the exact opposite & increases in value over time.
it seems we need to eliminate the narrative that bitcoin can help reduce poverty and inequality, because basically bitcoin is not capable and cannot be a solution to these problems.. the government should help the poor. and bitcoin is not designed to be a daily payment, besides having fees, it has a waiting time and regulatory barriers are obstacles for bitcoin to be used in a wider area.
and in terms of helping unbanked people, bitcoin is still not able to be a solution because of limited access and lack of education of people about bitcoin, especially for people in remote areas... and usually unbanked people need more diverse financial services, while bitcoin can only be used for transactions or as an investment.
and in terms of helping unbanked people, bitcoin is still not able to be a solution because of limited access and lack of education of people about bitcoin, especially for people in remote areas... and usually unbanked people need more diverse financial services, while bitcoin can only be used for transactions or as an investment.
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Bitcoin could really help reduce poverty and inequality, but it's not a simple fix. It has some great possibilities, but also some big problems.
The good things are that Bitcoin could help people who don't have bank accounts get access to money. This would let small businesses grow and people could easily send money to each other, even across countries. Sending money home to family would be cheaper and easier. It could also make things more transparent, so there's less chance of corruption. Basically, it could give people more control over their own money.
But there are also big challenges. The value of Bitcoin goes up and down a lot, which makes it risky to use for everyday things. Many people don't have the internet or smartphones needed to use it. We also need clear rules about Bitcoin to make sure it's used safely. And people need to learn how to protect themselves from scams.
So, Bitcoin could be helpful, but it's not a miracle cure for poverty. We need to make sure everyone has access to the technology, that the rules are clear, and that people know how to use it safely. It needs to work alongside other ways to fight poverty, not replace them.so what are your taught and opinion on this topic
Generally speaking, I think you are completely right with all that you have said, but like you also pointed out, there are challenges and it's real.The good things are that Bitcoin could help people who don't have bank accounts get access to money. This would let small businesses grow and people could easily send money to each other, even across countries. Sending money home to family would be cheaper and easier. It could also make things more transparent, so there's less chance of corruption. Basically, it could give people more control over their own money.
But there are also big challenges. The value of Bitcoin goes up and down a lot, which makes it risky to use for everyday things. Many people don't have the internet or smartphones needed to use it. We also need clear rules about Bitcoin to make sure it's used safely. And people need to learn how to protect themselves from scams.
So, Bitcoin could be helpful, but it's not a miracle cure for poverty. We need to make sure everyone has access to the technology, that the rules are clear, and that people know how to use it safely. It needs to work alongside other ways to fight poverty, not replace them.so what are your taught and opinion on this topic
Bitcoin as a money has helped greatly to reduce the space or margin between the rich, the middle class and the poor, but this has only happened only for those who have managed to get themselves involved in the technology, those who are not yet privileged to know about bitcoin, or live in places where access to internet and smart phones are still a major issue are still wallowing in the dark, away from the light bitcoin has brought to the world.
For everyone, or perhaps, more than half of the world's population to get to know, and possibly get that opportunity of getting involved in bitcoin, there need to be a general sensitization, a global outreach, this can not happen without every government in the world first accepting bitcoin and allowing its general use, both in public and private.
When I was a kid, I really thought that Bitcoin could reduce poverty in poor countries but as I grew up, I understood that the economy doesn't work the way many extreme Bitcoin enthusiasts think. Bitcoin can create many jobs, and generate a passive income for people by buying Bitcoin miners and setting up small rigs, blockchain technologies can create lots of jobs too but Bitcoin can't reduce poverty and inequality. In order to work as a blockchain developer or in a Bitcoin startup, you need to be a programmer. To become a programmer, you need to have some money to spend lots of time learning, then you also need a good computer. It requires money and financial support from family to reach this level.
Bitcoin helps people who don't have banks, pretty sure people who don't have banks are mostly poor.
Since they're poor, they don't have money to buy cell phone.
Poverty mostly come from bad government and bad regulation, not the money. So, fix the government and the regulation instead of finding a way to make more money.
Inequality will always exist, it's always not equal.
Since they're poor, they don't have money to buy cell phone.
Poverty mostly come from bad government and bad regulation, not the money. So, fix the government and the regulation instead of finding a way to make more money.
Inequality will always exist, it's always not equal.
It's about the balance of things.
Some need to be poor for others to stay rich.
To change things up, it would need lots of effort from everybody involved.
Bitcoin may be a tool to use on a bigger scale, but it's not a cure to use from the get-go to change things up in some countries.
Bitcoin helps people who don't have banks, pretty sure people who don't have banks are mostly poor.
Since they're poor, they don't have money to buy cell phone.
Poverty mostly come from bad government and bad regulation, not the money. So, fix the government and the regulation instead of finding a way to make more money.
Inequality will always exist, it's always not equal.
Since they're poor, they don't have money to buy cell phone.
Poverty mostly come from bad government and bad regulation, not the money. So, fix the government and the regulation instead of finding a way to make more money.
Inequality will always exist, it's always not equal.
I don't think these forum lacks that information for everything about Bitcoin, we can simply point them here and maybe they will understand it more.
In regards with reducing poverty, let's not be too optimistic about it because it is still in its baby phase. There will be a lot that could happen in the future and when it comes to sending money they can use those stablecoins or other altcoins to have a cheaper and faster fees. Let's face it, Bitcoin transaction has heavy traffic and more expensive that using other coins.
I know we want it to be on top but I don't think this is the way. For now.
In regards with reducing poverty, let's not be too optimistic about it because it is still in its baby phase. There will be a lot that could happen in the future and when it comes to sending money they can use those stablecoins or other altcoins to have a cheaper and faster fees. Let's face it, Bitcoin transaction has heavy traffic and more expensive that using other coins.
I know we want it to be on top but I don't think this is the way. For now.
Bitcoin would be used for big transactions only, and it is like that now, imo.
Not for daily usage.
And it's okay, because BTC is still in its development and adoption process.
I don't think these forum lacks that information for everything about Bitcoin, we can simply point them here and maybe they will understand it more.
In regards with reducing poverty, let's not be too optimistic about it because it is still in its baby phase. There will be a lot that could happen in the future and when it comes to sending money they can use those stablecoins or other altcoins to have a cheaper and faster fees. Let's face it, Bitcoin transaction has heavy traffic and more expensive that using other coins.
I know we want it to be on top but I don't think this is the way. For now.
In regards with reducing poverty, let's not be too optimistic about it because it is still in its baby phase. There will be a lot that could happen in the future and when it comes to sending money they can use those stablecoins or other altcoins to have a cheaper and faster fees. Let's face it, Bitcoin transaction has heavy traffic and more expensive that using other coins.
I know we want it to be on top but I don't think this is the way. For now.
I really don't understand how people equate Bitcoin as a saviour of all.
Bitcoin wasn't created and doesn't really combat poverty.
It's money with an appreciating value that gives control.
Bitcoin wasn't created and doesn't really combat poverty.
It's money with an appreciating value that gives control.
Bitcoin is no magic wand, I do agree.
Bitcoin is an alternative to what currently was there at the time, and it still is now.
It wasn't envisioned with the intent to make more people in the middle class.
Bitcoin can not reduce poverty and inequality. Or let me say it can it be up to a significant level. People themselves should follow the right path but which is not possible because people are intelligent than one another and also not everyone have the right exposure. As some people are rich, some people are poor. But the government of a country can help in having better economic growth and development.
"bitcoin could"
well yes could, but in the last decade it has been seen that the development and coding has been changing bitcoin to be more institutional friendly and less accessible to the poor, uneducated, unbanked parts of the world
How will the poor be able to afford bitcoin even if bitcoin price is still low? That is not possible unless they have the money to buy. But many of the poor will also call bitcoin a scam at the early stage while most of them do not know what bitcoin is. People that make it at that time may not be that rich but got good laptops and that makes them not poor. well yes could, but in the last decade it has been seen that the development and coding has been changing bitcoin to be more institutional friendly and less accessible to the poor, uneducated, unbanked parts of the world
in short its become easier for the elites to access and harder for the common man. thus creating more inequality by making the rich richer and the poor have less oportunity
This is how assets or anything valuable that people know already are. 
Bitcoin could really help reduce poverty and inequality, but it's not a simple fix. It has some great possibilities, but also some big problems.
Bitcoin is a currency. I don't think money can be used to reduce inequality. Bitcoin becomes profitable if you invest in it. Inequality can be reduced by making and implementing people-centred policies and not Bitcoin. The poor will benefit from Bitcoin if they can invest in it. But you know it's difficult to do that since their focus is survival
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The good things are that Bitcoin could help people who don't have bank accounts get access to money. This would let small businesses grow and people could easily send money to each other, even across countries.
The major reason why people don't have bank accounts is poverty. Some people don't have extra funds to save in the bank. These days you don't need to go to a physical bank to open an account. Another reason especially in developing nations is poverty. When you don't know how to read or right, you can't operate an account or even a wallet.
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It could also make things more transparent, so there's less chance of corruption. Basically, it could give people more control over their own money.
Corrupt government officials will still devise means to steal funds. They can still inflate contracts or use some privacy tools to make transaction tracking difficult.
Bitcoin could be effective in international trade since middlemen are not involved. Nations can make a profit by hodling the asset. It also promotes privacy giving citizens control over their financial transactions. But the government wants to control everything about finances, that's a big problem.
"bitcoin could"
well yes could, but in the last decade it has been seen that the development and coding has been changing bitcoin to be more institutional friendly and less accessible to the poor, uneducated, unbanked parts of the world
in short its become easier for the elites to access and harder for the common man. thus creating more inequality by making the rich richer and the poor have less oportunity
well yes could, but in the last decade it has been seen that the development and coding has been changing bitcoin to be more institutional friendly and less accessible to the poor, uneducated, unbanked parts of the world
in short its become easier for the elites to access and harder for the common man. thus creating more inequality by making the rich richer and the poor have less oportunity
I really don't understand how people equate Bitcoin as a saviour of all.
Bitcoin wasn't created and doesn't really combat poverty.
It's money with an appreciating value that gives control.
Scams exist in Fiat way before Bitcoin was envisioned.
Bitcoin wasn't created and doesn't really combat poverty.
It's money with an appreciating value that gives control.
Many people don't have the internet or smartphones needed to use it. We also need clear rules about Bitcoin to make sure it's used safely. And people need to learn how to protect themselves from scams.
Bitcoin isn't the only one that faces such challenges, Fiat do tooScams exist in Fiat way before Bitcoin was envisioned.
Bitcoin could really help reduce poverty and inequality, but it's not a simple fix. It has some great possibilities, but also some big problems.
The good things are that Bitcoin could help people who don't have bank accounts get access to money. This would let small businesses grow and people could easily send money to each other, even across countries. Sending money home to family would be cheaper and easier. It could also make things more transparent, so there's less chance of corruption. Basically, it could give people more control over their own money.
But there are also big challenges. The value of Bitcoin goes up and down a lot, which makes it risky to use for everyday things. Many people don't have the internet or smartphones needed to use it. We also need clear rules about Bitcoin to make sure it's used safely. And people need to learn how to protect themselves from scams.
So, Bitcoin could be helpful, but it's not a miracle cure for poverty. We need to make sure everyone has access to the technology, that the rules are clear, and that people know how to use it safely. It needs to work alongside other ways to fight poverty, not replace them.so what are your taught and opinion on this topic
The good things are that Bitcoin could help people who don't have bank accounts get access to money. This would let small businesses grow and people could easily send money to each other, even across countries. Sending money home to family would be cheaper and easier. It could also make things more transparent, so there's less chance of corruption. Basically, it could give people more control over their own money.
But there are also big challenges. The value of Bitcoin goes up and down a lot, which makes it risky to use for everyday things. Many people don't have the internet or smartphones needed to use it. We also need clear rules about Bitcoin to make sure it's used safely. And people need to learn how to protect themselves from scams.
So, Bitcoin could be helpful, but it's not a miracle cure for poverty. We need to make sure everyone has access to the technology, that the rules are clear, and that people know how to use it safely. It needs to work alongside other ways to fight poverty, not replace them.so what are your taught and opinion on this topic
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