Bitcoin Forum

I came across a post on how bitcoin is and can  really help in financial inclusion especially in poors, especially in poor countries where averege income is as low as 30 dollar a month.
I think we need to focus on educating people on crypto. Once educated people will embrace crypto with open arms.

https://news.electroneum.com/cryptocurrency-can-help-empower-the-billions-of-unbanked-and-living-in-poverty-find-out-what-electroneum-is-already-doing

I really agree with your review bitcoin can help eradicate poverty in poor countries, especially in my country, most of the people in my country are unemployed because the government does not open adequate job vacancies, but the problem is we have to try to teach them about bitcoin ,because most people in my country do not have a proper education. after I got to know bitcoin and entered the world of bitcoin my economy was greatly helped and my life is now starting to improve,

The article is just a form of promotion of the author's project, not about bitcoin. Obviously, "eradicating poverty" is only part of a plan to achieve centralized crypto projects in order to attract as many communities as possible. Even though they talk about bitcoin, there is no attempt by any government to use bitcoin in order to eradicate their country's economic problems. In conclusion, bitcoin is not the solution in this case.

What most people embrace is the opportunity to make money from cryptocurrency investments and not really its actual usage. Once they're invested, that also doesn't guarantee they can get out of poverty. In fact, their situation could even get worse because of the market's high volatility and let's not forget various scams/hacks.

Although the article isn't about Bitcoin, but since the title claims that Bitcoin is helping to eradicate poverty in poor countries, here's my couple of Sats. Bitcoin contributes a little in eradicating poverty. Such contribution may even be insignificant in uplifting the poor from their situation.

In terms of poverty, I personally think that it is almost entirely useless to make the poor their own bank. It's not what they need. It is probably wrong to overemphasize that the poor are unbanked. The poor don't need bank accounts. They need the most basic of needs.

It is false empowerment for the poor to open him/her a savings account in a bank.

Edit:


The poor don't even contemplate about investments.

Yes, it's just a marketing article posted by Electroneum official website to promote its cryptocurrency. People behind this project promise to reward adopters up to 3$ monthly, althought further informations and details are missing.

For people living in poor areas it would be awesome to earn an extra 3$ every month just by using an app on their mobile devices or adopting a cryptocurrency without any investments, but I guess it's not sustainable for real.

Talking about the role of bitcoin on this matter, it will be effective once more online jobs and opportunities become disponible for everyone, so people can get paid in BTC when working remotely, especially those living in rural areas far from the civilization.

Did you even read the article? There is literally zero mention of bitcoin. It's pretty much just an ad of whatever this Electroneum thing is.

Bitcoin is a tool and tools on themselves don't do anything. What people do with the tools is going to decide the result. For example as a currency, people would still have to work to earn it so it can't really eradicate poverty if they can't work already! As an investment you still need money to invest in bitcoin and to get out of poverty you'd need a considerable amount, we know someone who is defined as "poor" doesn't have extra money to invest in first place otherwise they wouldn't be considered poor.

In any case you posted a clickbait!

You mean bitcoin not crypto because if you tell people to buy altcoins all they are going to experience is losses and that would make them poorer!

I guess this article is a  part of marketing campaign for a wallet, and it discusses crypto in general, and not bitcoin in particular. But yes I find this idea intriguing, if we can use bitcoin as a tool to eradicate poverty. Yes there are many ways bitcoin and blockchain can help people to achieve a decent income, if used properly, it has made people really rich. Blockchain tech has opened doors for new jobs, which can be done even remotely while sitting in a rural setting, thus helping many to earn decently. This happened in many African countries.

Won't even bother reading the article because bitcoin can never "eradicate" poverty from any country. If this was the case, all "poor" country would make the use of bitcoin to get rid of poverty. The author of the article would probably be seen highly for showing the people the way to get rid of poverty. But no, it is not going to happen. Bitcoin is just another medium of payment and nothing else. It won't remove poverty or anything. Do you really think the poor will be able to invest in bitcoin? Even if they can, they shouldn't based on how volatile the market is.

The issue of poverty or wealth also needs to be considered more fairly here. I don't think economic benefits will bring a completely good direction when social problems are always present. The perception of life is not always easy to tie together if it does not bring happiness to the parties in a positive and correct way, assuming a family just needs to have a simple life and doesn't want to. If they are plagued with problems of greed, delusion, or self-indulgence, they don't necessarily strive to become rich. So I also strongly support the fact that Bitcoin brings a lot of balance to life, but it is also difficult to express whether each of us is looking at the interests of ourselves or the community in the right direction.

Getting qualified on those jobs requires some educational degree which poor countries often don't have unless the government will sponsor their education or a well-funded private company will do it for free.

I don't really think bitcoin is the key to eradicate poverty as it is much more of an investment for me rather than a currency. Like pooya87 said, how can it help the people if it needs money to acquire it. Even us who are properly educated and can afford to buy it don't think bitcoin will lift us from our current financial status that easily.

People can accept bitcoin if they are willing to accept something new that is different from what they have been using. But most people will be skeptical of anything new and many of them say it's not good for them when they haven't found out much. Yes, if they can think about what will happen in the future and are willing to open themselves to accept new things, bitcoin can give them the opportunity to earn a source of income for their lives. It will depend on how they accept or not accept because we cannot impose our will on them.

The article is clearly not about bitcoin. An advertising project, of which there are thousands, with utopian ideas of an ideal solution to universal poverty and hunger. I wonder if these ideas will work now. GitHub shows the development activity of this project a year ago.

As for Bitcoin and poor countries, this is also a utopia. Poor people live one day. They are interested in providing for their families, and they simply have nothing to invest in bitcoin.

In addition, information about bitcoin is not closed. If a person is poor but has some creative urge to solve problems with their poverty, he is able to use the Internet and get all the information about bitcoin. If there is no Internet, then he simply does not need this information.

I am sorry to say but it can not and it will not. BTC is not a solution for years and years of economic turmoil, social inequality, lack of education of the poorer community, non-inclusion of the poor (ghettoization), no social mobility, laws that favor the wealthy, lack of worker rights, lack of job opportunities...BTC CAN'T and DOESN'T solve that.
It can help people have some additional income, and help them pay the bill more easily, get them out of a specific financial rut they are in at the moment, but they will most definitely not eradicate poverty that's systemic for as long as there is modern civilization.

Please let's stop painting crypto as something that it's clearly not and start looking at it as it is, and we might have a much healthier community than a bunch of laser-eyed twitter influencer goblins.

The majority of the poor countries are governed by dictators and corrupt politicians that will never allow a technology that will alleviate poverty. These governments use poverty to their advantage, because poor people cannot afford good education and also good medical care.

The poor people are then reliant on the government through social grants and services that are provided by these governments. This gives the government a hold over these people. (Riot or challenge the government.... and they take away these services)  ::)

You're title topic is all about bitcoin and then putting a link like electroneum.

Okay, let's just set to the topic about bitcoin helping people from poor countries. Actually, it's not just from those areas but let's generalize it that it's helping everyone. Whether you are from rich or poor country, first world or third world, bitcoin really did helped a lot and will keep on showing how it's helpful to those that are holding it.

It's like a new wealth distribution and those people that have heard it earlier but totally didn't gave their notice are regretting that they should have done that before when it's cheap.

Bitcoin is just part of the new best assets to be held by everyone but your fortune still relies on your decision and how you're working hardly and smartly.

I wouldn't notice the link if I didn't read your post. It seems you are right because the link was about electroneum. Although they mentioned the word crypto but they still highlight their own project.

It's been a long time since I first hear them, thought they have died already but anyways, there are countries where bitcoin is adopted more than just an asset, El Salvador for example and there are now even bitcoin cities on them. That brings a lot of opportunities to the people there but maybe you are right that they didn't rely all to bitcoin. There are some problem which bitcoin cant solve but government should make an effort to bring solutions if they don't want their people to suffer.

This doesn't have anything to do with Bitcoin but I understand once people hear Cryptocurrency they think of Bitcoin however I don't think that what they are saying can actually happen. First people, need to have access to android phones and data which is still going to be a problem with the poor folks in achieving any of those outlines they put out there like this one:
so they want people survive on less than US$2 a day to buy an Electroneum US$60-smartphone  ;D

Electroneum ATH was $0.207854 back on Jan 06, 2018, even the 2021 Bull market couldn't impact positively on the project, I can see the desperation.

I am a living example of what a difference Bitcoin can make, the average income here in my country is about $30 a month and that is not enough for the minimum requirements to live, but my life has changed since I got to know Bitcoin, I now get a good income through my work in Bitcoin and sometimes It exceeds my needs, so I strongly agree. Bitcoin can make a real difference to the lives of people in poor countries and improve them for the better.

Most of the investors are not conscious about the use of Bitcoin as worried about the price. They invest in Bitcoin without having basic knowledge. Their only intention is in the upward trend of Bitcoin, they lose everything when Bitcoin fallen in bearish. So in order to get success through Bitcoin, I think everyone should know it in terms of Use. Bitcoin didn’t get success by itself. The goal behind the Prosperity of bitcoin is the success of millions of investors ‍as well as the supporters.

Education is very important, especially in this type of market. The more we know about Bitcoin, the more we think that Bitcoin is a good investment, not a scam which is mostly what we've heard from uneducated people. We need such a thing as this actually helps the adoption. But on the other side, I really don't think this could eradicate poverty as these poor people are less likely to take risks rather than securing their daily needs, and investing is out of their priority.

If you know this - Rich people become more Richer while Poor people are still poor as they aren't willing to take risks.

indeed with bitcoin many people are helped economically because bitcoin investment is easy, and the investment can be long term or short term, and can be done by all people and can also be with small capital or large capital. so in this part of the world it is not surprising that many countries are adopting bitcoin because they see great potential. so in conclusion with bitcoin the world economy is helped.

It can't be denied that many people had improved their financial capability because of Bitcoin but somehow, this is not enough to stop poverty in the country, especially among the poor people because not all of them have also the capacity to invest and are willing to do it. We could just say that Bitcoin investment is just an opportunity, not a tool to eradicate such a thing for the reason that this is only for those who can afford to lose and willing to take risk, not for everyone IMO.

Educating many people is not easy even though they are willing to accept the presence of crypto into their lives. Because when you want to educate more people for crypto, then some of the many people you educate will try to betray you and also won't consider you as his teacher when he is successful and big. That's why I only focus on my own family and myself for crypto and the like, even though teaching people about crypto is a very noble thing.

i would not say it is eradicating it.
there are a couple billion people in the 'poverty' group
but bitcoin only has about 80m utxo (individual allotments held)

so its far from being so widely used that the poor are no longer poor

i would however say that it offers the poor a new extra opportunity to change their situations outside of the 'rigged game' of fiat, where fiat does not like to offer opportunities to the poor

Bitcoin started it have reduced the rate of unemployment in the nation not only in one part of a nation but different Nations so I believe that bitcoin every nation most of the guy who are into am rubbing are no longer going into stealing because because of investment in Bitcoin so bitcoin have reduced rate of unemployment and the rate of poverty that is understandable except it is people that don't like welcome bitcoin

I have never heard this superb description of Bitcoin as a tool. This is very correct because Bitcoin has multidimensional features that can be applied in different financial sphere. The knowledge and the skills of the holder would determine how useful or profitable it would be.   

It is true that the poor only consider there basic needs before investing, but there are some exceptions. I have seen people that are desperate to get out of poverty. These set of perceived poor persons are ready to cut down their food and other basic needs to invest in viable areas. We should not also forget that fact that Bitcoin can also be earned. The only challenge most poor countries or persons have is lack of infrastructures. 

eradicate poverty in one country?
I think this is too much as we know bitcoin is not legal in every country, so how can it help eradicate poverty in one country,
but if it helps financial freedom for the poor can be said to be true,
The article only contains ads, not what you intended

Sure, I definitely agree with that most especially in the African countries where poverty and unemployment is on the increase. since the mass adoption of Bitcoin increased and more and more people now know about Bitcoin, Those people that do not have job has seen Bitcoin as an opportunity to escape from poverty and leverage from there,  Then in the process Bitcoin has indeed changed there lives either by investment or by people finding Bitcoin jobs and earn money from there , For instance Bitcoin brought us together in this forum and a lot of people have earned money through signature campaigns which have really helped get them out of the poverty line because in some country $100 is big money, Therefore someone that is earning more than $100 a month here will definitely move out of the poverty line.

You do not need to do it for ALL of the world, you need to do it for one, and if you do it for one then you are going to end up getting the attention of the others. Imagine a world where all the crypto lovers got together and helped El Salvador. I am not saying that our money would be enough, hell we raised 100 million only for Ukraine because they were at war, how much do you think we could invest into El Salvador as a whole?

But, a decentralized donation run by all the crypto people into the first ever nation that made bitcoin legal tender would send out a great message, and if they actually do well? Well, next stop will be another poor country and then another and suddenly we have dozen countries in our pocket making it legal tender. That's what we should want.

The article is not mentioning Bitcoin or about Bitcoin but about an altcoin named Electroneum, you're using the wrong article and the wrong title you should correct it, it should be altcoin or the name of the altcoin that is mentioned in the article, the Cryptocurrency market is on an ongoing campaign of educating people on how good and how it can help people, one of the hindrances is people's perception of Cryptocurrency because of the too many scams that even seasoned investors are getting victimized.

It considers a great opportunity for them to get extra money while working hard at their job. This really could help people who want to improve their lives and use this Bitcoin as a medium but the question is how these jobless people took capital for investment? If they will just take a loan in order for them to start investing in Bitcoin that gonna be hard and sounds like not a good idea.

I believe this could something change in individual life for those who participate in this but not enough to carry the whole country unless the government will give full support to their netizens.

A good article but sadly it is a marketing one.The idea of their project is good but I see there just playing with the poor people who are ususally the most gullible.
For the people who live in poor areas where their income is about 30-50$ a month this project can seem promising but I don't think it's an act of goodwill but just an attempt to make money on those who can believe in a miracle.

I can't deny it because this is sometimes, true. Many jobless people around me can really increase their life and being richer because of Bitcoin and also other cryptocurrency. This really helps. However, there are some notes on why they can be.
Most of them, as far as I know, are really consistent in doing their efforts and activities in the crypto world, consistency for learning and learning again to meet with their best ways to earn money with Bitcoin. This is also not easy because most will face some bad experiences, face, many failures in advance.
But on the other hand, there are also many people who are being poorer with crypto, because of greediness, being scammed, and also not patient sot hat they lose their money because of panic sell. Being greedy because theywnat tobe richer very soon and quicker, so that they can be easily deceived by the scammers with fake investment.

Bitcoin can create opportunity, but it can't eliminate poverty. It is the role of the government to find a solution for poverty. What is being said is about the authority that does charity in the form of eliminating poverty through bitcoin. This is really good, we can see good number of users in our forum itself doing the same. This is their service to humanity and there is nothing about bitcoin.

Crypto was helping a lot for the people in the poor countries. So many people can access crypto. Crypto was giving more opportunity for people to earn more money. Just like when you were seeing bunch of legit airdrops in the market. That was also helping them a lot to fulfill their daily needs.
That's why poor people are seeing crypto as an alternative way to get additional income. Some of them have become hunters.

Bitcoin is clearly helping some poor countries with high unemployment economies. I don't know if those people are really invested in bitcoin, but they are doing bitcoin and crypto-related work and it really gets them through the tough days.
I myself used to be unemployed and have no outside income, I came to bitcoin and must say that it has contributed to my income. Things are stabilizing now and I have also accumulated a small investment, not too big but my life has changed a lot since I got to know bitcoin and crypto.

By the way, OP, the article is just trying to shill about Electroneum rather than about the benefits bitcoin is doing in poverty alleviation as your title suggests.

I think our country is one of the lucky countries that experience the help that Bitcoin could provide. Lots of opportunities have opened since Bitcoin existed. Not just as an investment but also as job opportunities that are crypto-related have been a survival path for most of us, especially during the pandemic. Bitcoin helped especially those who are struggling because of the economic crisis. I hope that more opportunities would open when the market recovers.

I did not read the article. I don't have time for this. But I have some thoughts on the topic title. :) There are some countries in Africa and South America where people earn less than $30 a month. In areas such as financial system access and financial freedom, Bitcoin and cryptocurrencies could revolutionize these regions. Therefore, I think that the necessary studies should be carried out as soon as possible to complete the mass adaptation in these regions.

Well i have to say i read through the article and in the end i think it was just a promotional piece for Electroneum, which is probably the project where the OP is heavily invested in or even part of the team. I still remember back in 2017 or 2018 when Electroneum was about to launch that there was a huge hype around it because back then it was the first cryptocurrency that could be mined with your smartphone. I just checked the starts for electroneum now and it seems that this project is slowly but surely losing relevance and is going down in the coinmarketcap ranking.
For me it is always a sad thing if a project has to experience that.

Absolutely, crypto has changed a lot of lives of those who are from developing countries, people who are fortunate enough to have the knowledge in these countries are able to have an additional source of income to support their basic needs.
There are a lot of people out there who do not have the slightest idea about crypto and how one can generate income from it, such people rely solely on their small income which is mostly not enough to carter for their needs, assuming they have the knowledge about crypto am sure it will be of great benefit in their financial status.
Despite the mindset of many people concerning crypto, some are willing to learn and give it a try. I totally agree with educating people to increase crypto awareness and promote financial inclusion.

I doubt bitcoin can serve as a tool for financial inclusion in poor countries. Most poor countries don't consider bitcoin as a legal tender, some countries even go to the length of clamping down bitcoin transactions by freezing bank accounts that are connected to Bitcoin trading and transactions. Bitcoin is helpful to a large extent, but it takes a knowledgeable government to support the initiative.

Advertising another project using the Bitcoin name It seems that this is nothing more than a promotional article. As for whether Bitcoin is helping to alleviate poverty in poor countries, this is not the case. Bitcoin is illegal in almost all poor countries and governments try to prevent it in every possible way by closing the accounts and confiscating money of those caught buying crypto. Also, many newbies try to become millionaires overnight through crypto due to their lack of knowledge and lose their life savings through futures trading and this is common in my country Until crypto is not legal the goal of eradicating poverty will not be achieved.

It has been helping for a long time. In countries with an unstable financial environment, with hyper inflation people prefer to use bitcoin through p2p platforms. It helps bypass domestic banking restrictions of specific countries, keeps funds from losing value, and sends value cheaply between sender and receiver. As far as I remember, there was a topic on the forum dedicated to these countries, Argentina, Vietnam, the Philippines, etc. were among them. And there this trend is growing exponentially.

it makes a lot of sense because access to bitcoin or crypto is very easy. but also keep in mind if crypto can really help poor countries, what is the most effective way so that every citizen in a country that earns $3 or $30 per month can make more money than that? whether with crypto-linked work contracts, or something else like mining.

despite all that, I will always support crypto

after i read the article, it turns out that there is no word that says bitcoin can help the poor but the article only mentions the purpose of the electroneum project.


but for me if educating people about bitcoin or crypto it will not rule out the possibility of helping the poor because there are so many risks in the crypto world such as market price inflation etc. maybe a lot of people out there think about investment opportunities in crypto or bitcoin but don't know all the big risks there.

Lol, Bitcoin isn't helping poverty, but lucky people can become rich right now if he's an early adopter.

Bitcoin isn't a charity where any poor people can get Bitcoin to buy a food, faucet is considered as free Bitcoin but you need to spend for around a month only to buy a burger. Poor people didn't even have electricity and internet access, how can they know Bitcoin? Also if Bitcoin can help poverty, I'll never see any beggars asking for money when a pedestrian walking near them.

Exactly, bitcoin cannot help alleviate poverty but bitcoin is a tool that helps a lot of people to earn a substantial income that can help them overcome some difficulties in life who know bitcoin and grasp bitcoin.
In some economic countries suffering from inflation, depreciating currency, and high unemployment rates, it is possible to see bitcoin as a place that can help them solve those difficulties, a lot of jobs from bitcoin and cryptocurrencies for us.

Bitcoin is an aid to the ever-growing economic needs of countries nowadays due to downturns in employment, security, and diseases. It is so simple that one with a digital device connected to an internet or wifi can operate. Persons who live in very rural areas only need more awareness in form of crusades or as courses or subjects taught in their places of learning or association.
The experience for me at first was overwhelming, but delving deeper due to an ever demanding need to pay bills, cater for a family, and improve my standard of living; it has shown that one can truly earn from Bitcoin with as little as being committed and being online.
Bitcoin is helping to win the war against poverty worldwide, in both small or big countries.

this is true, there is a good side among people who know the crypto world, people who do not have a high degree of education this will be very helpful for airdrops seekers who can make money to sustain their daily lives. open to the public with a willingness to self-taught from the internet with how to fuse it. the results that can be exchanged for bitcoin and others

I think some bounty hunters got the wrong impression that Bitcoin can help poor people earn an income from doing crypto bounty works. From there, have enough funds to invest in Bitcoin/crypto projects and dream about hitting 10x of your investment. Completely bullcrap.

Bitcoin DOES help people who are poor, how? Well in the places that are cheaper, people could work hard to earn a few bucks and bitcoin would allow the globe to get together financially. What this means is that people do not realize 100-200 bucks a month is a good amount of money in many parts of the world, doesn't mean you would be filthy rich but you could live comfortably with that side income.

Or you could earn something like 500-600 dollars and live a very decent life which is what I am doing right now. So, I have to say that the best thing to do right now would be to make sure people can get their money and that is what crypto is helping right now as well.

Now when the cryptoindustry entered the world and began to bring profit to people. It can be said that cryptocurrency can also bring profit to those countries that are on the verge of poverty. Now a lot of attention is being paid to a country like Africa, where there is always a problem with food and many others, and this requires a lot of money. And with the help of digital technologies, these problems can be solved. So the crypto industry is already making a big contribution to the development of many countries.

Bitcoin is just like any other kind of currency. Whenever it'll help you get out of poverty or not, will greatly depend on how you use it. One thing for sure is that Bitcoin empowers poor people to be their own bank. They'll be saving on fees, plus they can be assured their money is safe against confiscation/freezing from third parties (mainly governments and central banks). In communist countries like China and North Korea, Bitcoin proves to be the ideal "tool" for people to experience true financial freedom.

If Bitcoin didn't existed, then we'd still be subject to banks' desires. Now that we have Bitcoin, things have changed. Most governments are afraid Bitcoin will take over the existing financial system because of its ever-growing popularity. Only a few are embracing it for their own benefit. Who knows if Bitcoin becomes the key towards financial prosperity? Just my thoughts ;D

Apart from the Electroneum article, Bitcoin's main purpose is not to be like in that article, but to P2P payments without any third parties, for investors who have known Bitcoin since 2011 and hold it to date, I think that's a good thing, because he has become millionaire and it takes a long time with extra patience

I've read the story of the success of a poor area with a majority of the population 80 percent poor, their success is based on investing in crypto, they learn and set aside 50 percent of their income to invest, the results they get are decent, now they have become the majority area of ​​the population with the best income in economic growth, I believe Bitcoin is one of the factors as stated by Flyingjack123.