What are the benefits of cryptocurrency to the illiterate people - page 2.

PytagoraZ

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Jolly? I think I've heard that name before. hmm

Quote from: lovesmayfamilis on February 10, 2024, 10:03:55 AM

Quote from: Ruttoshi on February 10, 2024, 08:05:39 AM

Bitcoin precisely can be introduced to the illetrates ones by teaching them the basic knowledge of bitcoin. Teaching them how to invest in bitcoin will be a good help to them, since inflation is eaten up the value of our currency. The illetrates do have savings, some illetrates are rich and well to do, especially the ones in business.

Wow! In your opinion, are illiterate people capable of running a business? Perhaps yes, by farming or something similar. But I haven't met such people. In my opinion, people capable of organizing their businesses are talented and have skills that appear after education. But I won’t argue; perhaps you’ve met such people.
But how can these people, without literacy, understand where and how to enter at least the seed phrase from the wallet?
If a person is illiterate, Bitcoin will not improve his life until he matures. Usually, such people have a low level of mental development, so Bitcoin is useless for them.

Yes, I am also surprised by their logic. Most illiterate people have low economic capacity so they do not have sufficient ability to invest. Then how will they use a computer when they can't read, illiterate people usually have low intelligence and it is very difficult to teach about computers if they can't distinguish letters. Ah. they're just people who are afraid of having different opinions, maybe

Quote from: Yatsan on February 10, 2024, 10:25:11 AM

Quote from: PytagoraZ on February 10, 2024, 08:47:54 AM

Quote from: G-aluminum on February 10, 2024, 07:57:12 AM

What are the benefits of cryptocurrency to the illiterate people?

There's no benefit. It is better for illiterate people to be taught to read first. In my opinion, it is unreasonable for anyone to think that Bitcoin can be an investment for those who are illiterate. Meanwhile, even normal people have a big risk, especially illiterate people will have difficulty finding technical and fundamental analysis about Bitcoin. Their risk would be greater than someone who can read and I don't think it's a good option for them. I know bitcoin is a good technology but not all good things are accepted in all circles

But not all literate people are into investments right? What's missing to them? Definitely will and it does not require literacy in the first place. They COULD benefit from this industry and as you said they just need to learn things first. But there are ways and that is if there's someone to guide them with things. Risk is understandable by all people by the concept of 'gambling'wherein everyone is aware of. Athough things are different between investment and gambling, the thought is simply how risk is manageable.

Of course, and would an illiterate person prefer to invest? If so, the number must be very, very small. What? they don't need literacy skills? how can they have a wallet, secure a wallet, trade on an exchange, if they can't read and write? with the help of others? Of course it is possible, but what are the risks? For normal people, the risk is big, especially for illiterate people, they are not able to analyze Bitcoin. Throwing them into a high risk investment means you are adding more than 10x the risk to them, that's a bad choice for them guys. I know bitcoin is good but not always a good thing is accepted in all circles

Quote from: Rikafip on February 10, 2024, 11:23:02 AM

Quote from: G-aluminum on February 10, 2024, 07:57:12 AM

What are the benefits of cryptocurrency to the illiterate people?

Zero, nada, nilch. Those kind of people have far bigger problems than whether they can/should buy bitcoin or not.

yeah, smart thing

qwertyup23

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Quote from: G-aluminum on February 10, 2024, 07:57:12 AM

What are the benefits of cryptocurrency to the illiterate people?

Even if there are illiterate people, you can explain BTC to them as in the concept of cash or barter. Meaning, BTCs can be exchanged for something like goods, services, etc. due to its significant value on the market. Additionally, you can also explain it to them that BTC works something as an investment- meaning you can store it for a relatively long time and it will incur value at the end (e.g. likening it to precious metals such as gold, etc.).

Even if there are illiterate people, this does not hinder them from learning about BTCs. More importantly, if they have the capacity to understand a complex currency such as BTC, then this can be their first step of learning how to read and write- thereby making them literate in the process.

In conclusion, teaching them about BTC can kill two birds in one stone- they learned about BTC; and they also have the opportunity to be literate at the same time.

EL MOHA

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Quote from: Renampun on February 10, 2024, 11:19:48 AM

Bitcoin will continue to be useful for everyone even if that person is disabled. maybe illiterate people will have difficulty carrying out bitcoin transactions because they are hampered by their ability to see letters and numbers but i am sure that in the future the development of bitcoin wallets will continue to increase and we will see voice-based bitcoin wallets so that anyone and in any condition everyone can do bitcoin transactions easily.
in my country there are still quite a lot of people who are illiterate, but i see that they can still carry out buying/selling transactions well, because there are still many good people who guide them. i am sure this will also happen when transactions with bitcoin are carried out by those who are illiterate.

It is still same thing to me even if a voice base bitcoin wallet is created (even though I don’t think we will get there considering the privacy associated with bitcoin, anything face recognition or voice wouldn’t be welcomed). But still let’s say hypothetically this is created, how does an illiterate person still communicate with the device, remember this are people that can hardly read instructions or even write out anything. First of all they need to able to actually even use the internet which most are definitely finding hard to do, and we all know bitcoin is more complex than that. Have you thought about how they will handle cases like bitcoin transaction needing RBF or them signing from a cold wallet to broadcasting on a watch only wallet. This are cases that hinders an illiterate person venturing into bitcoin. Worst his they trust a friend or family member to do most of this things for them before they get acquainted with it, which is a very big red flag

Rikafip

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Quote from: G-aluminum on February 10, 2024, 07:57:12 AM

What are the benefits of cryptocurrency to the illiterate people?

Zero, nada, nilch. Those kind of people have far bigger problems than whether they can/should buy bitcoin or not.

Quote from: Wapfika on February 10, 2024, 09:15:44 AM

Bitcoin will give them financial freedom. Actually, they are the best holder of Bitcoin since they will surely not explore and just hold until they can sold it in high price. Literate person usually explore more in crypto that always result to confusion and multiple bad decisions.

Are you sure that you fully understand what being illiterate means? I mean, how can you expect from a illiterate person to successfully buy bitcoin, create a wallet and safely store it?

Renampun

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Quote from: G-aluminum on February 10, 2024, 07:57:12 AM

What are the benefits of cryptocurrency to the illiterate people?

Bitcoin will continue to be useful for everyone even if that person is disabled. maybe illiterate people will have difficulty carrying out bitcoin transactions because they are hampered by their ability to see letters and numbers but i am sure that in the future the development of bitcoin wallets will continue to increase and we will see voice-based bitcoin wallets so that anyone and in any condition everyone can do bitcoin transactions easily.
in my country there are still quite a lot of people who are illiterate, but i see that they can still carry out buying/selling transactions well, because there are still many good people who guide them. i am sure this will also happen when transactions with bitcoin are carried out by those who are illiterate.

bangjoe

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Logically bitcoin for illiterate people is not very useful, especially in digital-based things, but it depends on how severe the person the OP means is in illiteracy. Because if you only speculate wildly and assume that the person in question has a severe level of illiteracy, of course bitcoin will not be on their mind, because we need to get to know bitcoin and one of them is by reading, both in knowing that bitcoin, in making transactions, and being able to connect with bitcoin also requires good reading power so that it can connect with bitcoin and utilize it well.

Nechiequ

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Quote from: serjent05 on February 10, 2024, 08:06:42 AM

It is the same as those who are not illiterate but the thing is that these people can't take advantage of the benefits Bitcoin offers. To get those benefits, these people (illiterate) need a helping hand. They need another person who will make them understand by explaining Bitcoin. But they should be careful because being unable to read and write is often exploited by greedy people.

Well that's the risk of illiteracy😁. But what you said does sound simple but in reality I see that bitcoin is not that simple, there are many factors in it that must be mastered and it takes a very long time. In essence, it is the flying hours that will answer, because I feel the sweetness and bitterness of being with him is exhausting sometimes people despair because of it.

Fatunad

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Quote from: G-aluminum on February 10, 2024, 07:57:12 AM

What are the benefits of cryptocurrency to the illiterate people?

If we do speak about being illiterate then it would be talking generally about knowledge from basic stuffs until into something which is a bit technical. It would really be just that depending on a certain
individual whether they would really be working hard for them or would really be just that sitting idle.It would really be just that depending on how they would really be doing such things
because success is something that should really be needing to be hard work for and not really just that not doing anything at all.

Being illiterate isnt a solid reason that you wont really be progressive in life. It would really just that depending on how someone would really be doing such thing
and as a person who does have that knowledge then it would really be just that depending or up to you whether you would be teaching someone
in regarding about crypto investment ideas and learnings on which it would be something that be helpful for them.

Yatsan

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Are they alone? Can't they learn things? Literacy is something we can learn regardless of age. They may only be illiterate but they can still understand things. They just need guidance therefore, they could still benefit from cryptocurrencies the way we do, like no differences at all but it would depend on their will to do so. With benefits, it could be profit by means of investment, alternative mode of transaction and payment, and more.

Quote from: PytagoraZ on February 10, 2024, 08:47:54 AM

Quote from: G-aluminum on February 10, 2024, 07:57:12 AM

What are the benefits of cryptocurrency to the illiterate people?

There's no benefit. It is better for illiterate people to be taught to read first. In my opinion, it is unreasonable for anyone to think that Bitcoin can be an investment for those who are illiterate. Meanwhile, even normal people have a big risk, especially illiterate people will have difficulty finding technical and fundamental analysis about Bitcoin. Their risk would be greater than someone who can read and I don't think it's a good option for them. I know bitcoin is a good technology but not all good things are accepted in all circles

But not all literate people are into investments right? What's missing to them? Definitely will and it does not require literacy in the first place. They COULD benefit from this industry and as you said they just need to learn things first. But there are ways and that is if there's someone to guide them with things. Risk is understandable by all people by the concept of 'gambling'wherein everyone is aware of. Athough things are different between investment and gambling, the thought is simply how risk is manageable.

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Quote from: G-aluminum on February 10, 2024, 07:57:12 AM

What are the benefits of cryptocurrency to the illiterate people?

Investing in the right coins will make them prosper financially and physically but since they are illiterate and cannot understand how bitcoin works and its potentials, then they will surely face a lot of challenges in managing crypto investment. However, everything can be learned in crypto but it takes time to make them able to read and write, and understand every thought or idea that talks about cryptocurrency so patience and perseverance are a must.

In addition, cryptocurrency can help them escape from the traditional payment system and use cryptocurrency instead most particularly bitcoin, but in order for them to learn how to use crypto as a mode of payment, then they should acquire necessary knowledge that will make them understand the benefit of crypto as a currency.

lovesmayfamilis

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Quote from: Ruttoshi on February 10, 2024, 08:05:39 AM

Bitcoin precisely can be introduced to the illetrates ones by teaching them the basic knowledge of bitcoin. Teaching them how to invest in bitcoin will be a good help to them, since inflation is eaten up the value of our currency. The illetrates do have savings, some illetrates are rich and well to do, especially the ones in business.

Wow! In your opinion, are illiterate people capable of running a business? Perhaps yes, by farming or something similar. But I haven't met such people. In my opinion, people capable of organizing their businesses are talented and have skills that appear after education. But I won’t argue; perhaps you’ve met such people.
But how can these people, without literacy, understand where and how to enter at least the seed phrase from the wallet?
If a person is illiterate, Bitcoin will not improve his life until he matures. Usually, such people have a low level of mental development, so Bitcoin is useless for them.

Spaceman1000$

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Quote from: G-aluminum on February 10, 2024, 07:57:12 AM

What are the benefits of cryptocurrency to the illiterate people?

It depends on the kind of illiteracy you're talking about, illiteracy can be in different field either in Education which involve not being able to read and write, financial illiteracy and various kinds of illiteracy. However if you're talking about illiteracy of the person not knowing about cryptocurrency, that person is just like every other person that doesn't have an idea of cryptocurrency and can learn about it haven been taught about it. Everybody that knows about cryptocurrency today at one point in time never knew a thing or two about it, they later learn about it and improved on it.
So the benefit of cryptocurrency to an illiterate person is for that person to learn about cryptocurrency and get the knowledge of it and start investing based on the knowledge he has gotten.

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Quote from: G-aluminum on February 10, 2024, 07:57:12 AM

What are the benefits of cryptocurrency to the illiterate people?

Bitcoin will give them financial freedom. Actually, they are the best holder of Bitcoin since they will surely not explore and just hold until they can sold it in high price. Literate person usually explore more in crypto that always result to confusion and multiple bad decisions.

Most of the successful person that invested on Bitcoin are those who hold the most since its value is increasing long term consistently. Illiterate person can definitely hold Bitcoin longer if there will be someone to guide them on how to purchase it. The important question is how can you convince them to invest while they don’t know how to read and write?

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Quote from: G-aluminum on February 10, 2024, 07:57:12 AM

What are the benefits of cryptocurrency to the illiterate people?

It is the benefits that bitcoin has generally. There is no segregation because literates and illiterates can all buy and hold bitcoin. So if we have to talk about the benefits of bitcoin to the illiterates, that means you are also talking about its benefits to people that are literates as well. And the benefits are to hedge against inflation and to be used as an investment. If the price goes up, people that hold it will make more money and also helping the economy.

PytagoraZ

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Jolly? I think I've heard that name before. hmm

Quote from: G-aluminum on February 10, 2024, 07:57:12 AM

What are the benefits of cryptocurrency to the illiterate people?

There's no benefit. It is better for illiterate people to be taught to read first. In my opinion, it is unreasonable for anyone to think that Bitcoin can be an investment for those who are illiterate. Meanwhile, even normal people have a big risk, especially illiterate people will have difficulty finding technical and fundamental analysis about Bitcoin. Their risk would be greater than someone who can read and I don't think it's a good option for them. I know bitcoin is a good technology but not all good things are accepted in all circles

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Quote from: G-aluminum on February 10, 2024, 07:57:12 AM

What are the benefits of cryptocurrency to the illiterate people?

Your question is vague. What is your definition of illiteracy, it can be seen from a different perspective. Is it the inability to read or write or the lack of some basic skills? People who don't know how to read or write might not be able to benefit from cryptocurrency because they need these abilities to be able to navigate through the cryptosystem. Reading and writing are important skills for crypto users, without them the person will have to look for assistance.

Anyway, the crypto industry has contributed to the reduction of poverty in some countries. Most crypto service providers pay taxes to the government and these funds are used to build schools and other educational facilities that help to educate people. Some of these firms also engage in social corporate responsibilities like building schools and other educational facilities like libraries to foster literacy.

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Quote from: G-aluminum on February 10, 2024, 07:57:12 AM

What are the benefits of cryptocurrency to the illiterate people?

The term "illiterate" is, in my opinion, unsuitable for the type of question you are posing. Perhaps you are preferring those who are ignorant or uninitiated about cryptocurrency?
First off, since cryptocurrency is new to them, some people might not believe it at first, especially those who do not know about it. However, if they are aware of what it is and how it can impact and transform their lives, perhaps they will be interested in finding out more information about these cryptocurrencies. If there are people eager to tell you how the crypto world is going, I believe it will enable them to sharpen their understanding even more. Perhaps they won't be left behind, given that we are dealing with concepts from the human race, both present and future. I think it takes a while for people to come to terms with the fact that cryptos exist and that we can comprehend them.

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Quote from: G-aluminum on February 10, 2024, 07:57:12 AM

What are the benefits of cryptocurrency to the illiterate people?

Bitcoin adoption will not allow their background to turn their back to the ground, it will give them the very necessary opportunity every other users stands to benefit from its adoption, we don't have to go to school before we can show interest in bitcoin adoption, aal we can do is to learn the way its been used for our financial freedom being a decentralized digital currency, most of the rich fellows in the society today are not literates, but they make business and control millions, its all about determination on what we want.

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It is the same as those who are not illiterate but the thing is that these people can't take advantage of the benefits Bitcoin offers. To get those benefits, these people (illiterate) need a helping hand. They need another person who will make them understand by explaining Bitcoin. But they should be careful because being unable to read and write is often exploited by greedy people.

Ruttoshi

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Quote from: G-aluminum on February 10, 2024, 07:57:12 AM

What are the benefits of cryptocurrency to the illiterate people?

Bitcoin precisely can be introduced to the illetrates ones by teaching them the basic knowledge of bitcoin. Teaching them how to invest in bitcoin will be a good help to them, since inflation is eaten up the value of our currency. The illetrates do have savings, some illetrates are rich and well to do, especially the ones in business.

Investing in a long term investment on bitcoin will help them make profit from bitcoin. Storing their coins in a self custody wallet and keeping their seed phrase safe. Buying bitcoin and transferring it to their wallet is the basic thing that they need to learn, so that they can start saving in bitcoin for the future. They don't need to know any other cryptocurrency apart from bitcoin to safe them from the risk of pump and dump. When they invest in bitcoin and hodli for long, the risk will be limited.

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