Topic: The role of Bitcoin in eliminating unemployment in our country (Read 430 times)

Bitcoin and cryptocurrencies are not in a position to solve unemployment en masse and i think it's early. The majority of people who know Bitcoin and deal with trading in crypto money markets are striving for their financial freedom. One of the social problems, unemployment is almost impossible for my country to solve with Bitcoin. Because people see Bitcoin as a means of rapid enrichment. If you are aiming to get rich quick for financial freedom you will hit the bottom. There are a lot of people around me who want to get rich fast and most of them suddenly lose their savings. In order to prevent mass unemployment it is necessary to add Bitcoin to the education curriculum.

Bitcoin lessons need to be given to children. Certainly this will not end unemployment but it will enable a conscious society to grow. New generations need to understand crypto markets early. But as i said before if you see these trainings as a gamble and aim for quick wealth, you will hit the bottom. I do not believe that Bitcoin will ever end unemployment definitively. Bitcoin is essentially a tool for value creation, financial freedom and protection. People aim to earn daily income by trading bitcoin in my country.

I don't deny that there are people who assume trading or investing in Bitcoin is their profession. But since not everyone has the ability to earn profits in trading or investing, it is not an easy job or profession. So, trading or investing in Bitcoin can't be an ideal choice for every person. Instead of earning money, people may get losses only if they don't understand how to trade or invest properly. Considering this matter, how Bitcoin can eliminate unemployed people in a country? In addition, not every person is also interested in trading or investing, some people may prefer to do real jobs. Commonly, only people who are familiar with digital works can be easily interested in trading or investing in Bitcoin/altcoins.

Bitcoin does help decreasing unemployment, but not through our local governments endorsing its usage and adoption.

Bitcoin helps through allowing common people to find jobs opportunities on the internet which wouldn't be disponible for them if it wasn't for Bitcoin or another currency with the same characteristics.

After all, it's not Bitcoin exactly which ceases unemployment. It's just a tool to connect employees to employers easier and with less bureaucracy. What we really need are more jobs offers. That is the only way to decrease unemployment.

A lot of people really helped because of bitcoin, and we are the same, as it really made me experience how to own that money, which was my first time in my life. For sure, others' lives have also improved because of bitcoin, and others, like unemployed people, also earn from it. What is really best about crypto is that it helped those in need, like no exception, even if you are poor. The opportunity really knocks on your door, like for me. I was just browsing the internet and found the wordbitcoin," and that was the start, which also led to new online friends.

Well I don't have much experience in this sector. Bitcoin is banned in our country. So creating an industry that runs with Bitcoin is a NO-NO. But if taken good measure to keep our privacy safe, individually we can do much more. As being a 3rd world country, with a little bit of effort, we can do much more with Bitcoin. Trading is a complicated process and not for everyone. But if we can create a long term plan for investment and just HODL. We can get a good profit which will help us build our on business or something. Bitcoin is not the solution in terms of reducing unemployment, but it gives us a lot of opportunity to do something on our own.

Here's a story of mine I want to share with you. I was unemployed and got into cryptocurrency. Made a savings from my crypto journey. Started a business with rice. And now, while I have that, I am expanding my business in other section. I have a pond at my home village. I'm farming fish in that. And the interesting thing is, I am still studying and managing all this. All thanks to Bitcoin and crypto industry.

I barely doubt crypto can help us overcome the unemployment in the country. At least not in our country where country’s finance minister is against the crypto currency usage within the country. I mean she is so furious right now that they are asking other countries as well too build a box for crypto and tighten the rules and regulations so that it can be controlled within early stages of its outburst.

Imagine, in such situation how do you think crypto could help us overcome the unemployment. There is no proper infra here. In my country peeps are using it but just to make profits with trading, Store the crypto etc etc. But no one using it with business virtue where job can be performed and get paid in crypto. Literally it’s off the book.

True that Bitcoin purpose of creation is to remove third party in processing transaction but we cannot deny the fact that with the benefits gotten from Bitcoin, it helps people to save money while others even profit from Bitcoin involvement thus it enable them to create business that demands employment.  With this situation happening, Bitcoin Industry helps in the reduction of unemployment in a country, especially when a country is positive towards Bitcoin adoption.

As someone from a region where we are facing an unprecedented level of unemployment (it is expected to rise to  40.6% as compared to 2022’s 37.7% according to reports¹), I can say that the solution to this is the collaboration between governments, educational institutions, and private companies in developing training programs and initiatives that will equip young Africans with the necessary skills to participate in the blockchain and cryptocurrency industry. Here is my reason.  As of 2022 my country was ranked among the top 20 countries in the global crypto adoption index². What this reveals is that there is a potential for bitcoin and cryptocurrency to provide economic opportunities.

There is a rising need for qualified individuals in the blockchain industry as Bitcoin usage keeps growing throughout my nation and continent. Nigeria had an 81% growth rate in blockchain talent, which placed it fourth among other nations in 2022 ³. By itself, this indicates that there are numerous career opportunities for Nigerians in the blockchain business, as well as a significant talent pool that can be developed. New jobs and economic growth will be created as a result. The bitcoin and cryptocurrency sector itself provides young people in my area with access to well-paying employment in a rapidly expanding and developing digital economy.

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1. https://www.channelstv.com/2023/04/11/nigerias-unemployment-rate-to-rise-to-41-in-2023-kpmg/#:~:text=The%20report%20also%20revealed%20in,of%20political%20transition%20in%20Nigeria.

2. https://blog.chainalysis.com/reports/2022-global-crypto-adoption-index/

3. https://diutocoinnews.com.ng/linkedin-okx-blockchain-talent-growth-report/9585/

4. https://www.forbes.com/sites/digital-assets/2023/05/30/how-bitcoin--can-fuel-job-creation-in-africa/?sh=6504638c2e66

Currently many people already know about Bitcoin and they are starting to invest, especially young people because they have a very big soul in achieving success, and Bitcoin is one of the future assets so many people are tempted by Bitcoin, and those who used to not have enough income but by learning Bitcoin and are now starting to get very satisfying results to help families to be free from problems  Financial, so now Bitcoin has a big role in life in a country, and the government must first protect Bitcoin to avoid things that are not wanted.

Many youths are into Cryptocurrency and making money for themselves in this part of the country that I came from though the government doesn't accept the trade. Many people that I know have made their millions from Bitcoin trading and investment. It can just be different from the time they were introduced and the opportunity they took with this coin.

Nope, I don't think that it was created for that purpose.
For me it was created to give us freedom from centralized banks, it was created or anonymity so our credentials would be safe even if we would use it.
I also believe your point of view before, but in reality it is hard to make a living on it if you would consider being a trader, then you need another way to earn since there are times that you wouldn't earn since you would be forced to HODL.

Every year students of our country are living unemployment without getting a job after graduation. and their numbers are slowly increasing as the years roll by. Educated youths are choosing online freelancing to eliminate this unemployment by doing this online freelancing work they are earning money and eliminating unemployment in the country and fulfilling their daily needs. and being able to support their families financially. Making money by freelancing or investing in bitcoins. Buy investing in Bitcoin, their earnings are increasing more and more. So Bitcoin has a lot of contribution to eliminate unemployment in the country.

you are right, in my country the mojority of bitcoin users or bitcoin investors are young people or at least people in age of under 40 years, although people who are 40 years up are exist in this crypto sphere in my country but the ammount are not much.

I think there are no correlation when you are talking about between workers who do their job then still invest + earn from bitcoin and people suffer with unemployment which is people is not already got any job but have earning on bitcoin.

yeah of course goverment should support growing of bitcoin to sopport its economic to grows.

Working in Bitcoin, what do you mean?

Bitcoin for early investors has given them enough wealth that the only work required of them is to safely keep the bitcoin, and that's it. They are either earning a daily profit or enjoying long-term benefits.

As a student, Bitcoin might not directly give you a working opportunity for you to earn directly from, but the development and introduction of Bitcoin have created a lot of work opportunities for people. Now, with a little skill online, one can now earn with Bitcoin, so they don't necessarily have to go out of their house to serve anyone or work in anyone's office. It's also undeniable that one can also earn a little income to add to what they are giving for their academic support.

I see Bitcoin as something that creates a lot of opportunities, not just for the youth but for everyone who knows how to use opportunity, but job creation and the reduction of unemployment are never one of the things I see as part of Bitcoin's ambition; it all depends on how we see it and how we use it that will determine what it will be for us. Bitcoin has been used as a payment option for a lot of job opportunities out there, but Bitcoin is not directly an employer of labor, so it doesn't directly create employment opportunities or reduce the rate of unemployment.

Well, you are right though, the only way I think bitcoin suppresses unemployment in the society is through trading, atleast, I know of some unemployed guys who are now full time crypto traders and also have a small investment in bitcoin, and they are doing really well financially.

So yeah, the emergence of bitcoin have indeed reduced unemployment, might not be too significant to be noticed, but sincerely, it has in its small way, there were many without direction and hope for the future, like myself back in 2015 before I discovered bitcoin, today, I manage a good business of my own, have a great family and living fine, all thanks to God for changing my life through bitcoin, I no longer have to work 7 to 7 jobs anymore.

To be honest, Bitcoin really helps, helps a lot. This happened to me personally, and I'm sure many people have changed their lives for the better and have enough income from Bitcoin and cryptocurrencies in general. I can do work from home, having this job as a sode job is really worthy. Sometimes the result is more than the monthly salary. And this also affects some acquaintances who really focus on working in Crypto. They really changed his life, and they are hard workers in this business..

The bitcoin industry does not only offer investments and trading.  It also offers jobs through a start-up company that takes advantage of the bitcoin market.  People who got their job from these companies have secured their source of income especially when the company is booming due to the popularity of Bitcoin.  there are also lots of company that take advantage of freelancers so Bitcoin even though not that much have some impact in helping the government to eliminate unemployment.

Yes, you are right. In a simple word, you can say that there is a source of livelihood, but it cannot be termed permanent employment status. Because Bitcoin trading has had a significant impact on employment in various ways, It has created new job opportunities in the cryptocurrency industry for traders, analysts, and brokers who specialize in or are well aware of Bitcoin. These professionals provide services and expertise to individuals and different platforms looking to trade Bitcoin. Additionally, the growing popularity of Bitcoin helps create jobs in customer support, software development, and security. Overall, bitcoin trading offers opportunities, particularly in sectors related to cryptocurrencies and blockchain technology.

The role of bitcoin for the younger generation is very large at this time, where many people are aware of maintaining the value of their currency and trying to invest in bitcoin is the right choice amidst fiat chaos in maintaining the value of their currency. There are many people who are able to support their families through bitcoin investments and are able to make their finances much better than before, but this is not achieved easily because consistency is required in maintaining confidence when starting investments, taking into account the negative issues and the volatility of bitcoin which can bring for someone to a loss under certain conditions.

As time goes by they start to realize and get more experienced in investing because direct involvement is very important as a step to gain experience. In the end they found the positive side that bitcoin can provide, so many people started to feel comfortable and continued to invest independently and regularly all the time.

Bitcoin will not reduce unemployment because bitcoin is not a social institution or zakat house that distributes aid. Bitcoin will be useful when people are able to use it for investment, when people/unemployed are not involved then bitcoin will not have any impact on them.

Where do you live?
How far is bitcoin growing around where you live and how the current government sees the growing adoption of bitcoin?
Bitcoin can influence people to reach a better financial stage, but you will not get comparable profits if you don't invest it regularly, many people know bitcoin but unfortunately not everyone is involved in investing. This is where the real problem lies because the role bitcoin can play when individuals can take advantage of it.

Bitcoin and cryptocurrencies play a role in reducing unemployment, although their impact is not particularly significant. However, they do assist many individuals in meeting their family expenses. Numerous people engage with cryptocurrencies and earn from them, although these activities should not be regarded as full-time employment. I am aware of numerous individuals who work on crypto exchanges and platforms, but their numbers are not substantial.