Bitcoin Forum

I have studied and argue about Bitcoin some topics which I posted and also came across in other board. Today I begin to think about the whole Idea of Decentralization, and I think the inventors of bitcoins since the idea was conceived till it was birthed has done the greatest good to humanity. With my view as at the time of writing , I think bitcoins will go long way to reduce poverty if they allow it achieve it's purpose.  Reducing poverty in my context is not about profit but the peer to peer transaction mechanism. The idea of centralized exchange is very much in place because a lot of people are yet to accept bitcoins but once it become accepted by majority, I think there will definitely be no reason to convert to fiat.

I still dont see how bitcoin reduces poverty like a silver bullet (Hint: Because it is not). Bitcoin is a currency and a payment method that can only be used if you already own it or received if someone else owns it and sends to you. Same people may be lacking any fiat at hand, does not mean they will magically have bitcoin at hand. On the other hand, it does make sending the money easier, which I agree.

Of course if you are a Nigerian price trying to scam using bitcoin, then its a different question - devilishly, you will get rich from tricking people. But that does not solve a poverty problem.

Fiat will exist as long as people exist because the entire economic system is hardwired to it. Crypto is till now an alternative, maybe in future new things will come in play and the use of both will get balanced.

How? Because it is decentralized. Because bitcoin is decentralized, that does not mean it can reduce poverty because those that invest in bitcoin invested money. But bitcoin can make someone that invested to get richer. That is how I see it.

We can use El Salvador that adopt bitcoin to know that people will always be attracted to fiat. I like it like that because bitcoin is better as an investment. The ones I have I am not ready to sell or transfer but to hold.

Less face the reality as it is,  bitcoin gives you freedom and total control of your assets and that is a big enough reason to adopt Bitcoin at the individuals level unless in a situation where Bitcoin is banned by the government and even if van dey,  one can still hold bitcoin since it decentralization features allow total control over asset so long as the Bitcoin is held in you own wallet with it private keys.

Fundamentally,  you were right in your explanation on Bitcoin peer-to-peer payment which does not need exchanges,  but for Bitcoin to reach that stage of global adoption, it will greatly take time.

Bitcoin intentions were not to reduce poverty, you said and I quote "Today I begin to think about the whole Idea of Decentralization", decentralization doesn't say anything about poverty, it's say something about been independent, been descrete in way that it doesn't have to depend on any central authority before it can function, it doesn't need anyone permission before it can work like the independence of bitcoin blockchain running on it own by different people across the globe and the absence of a single entity doesn't affect the network, you don't need anyone permission to send Bitcoin value across its network, this is what decentralization described and not elivating people from poverty.

However, looking at how influencial it is to wealth, anyone fortunate enough to bought it when it was still less value and hold till now would have automatically escape poverty, bitcoin build wealth because it grows in value but talking about decentralization and including poverty is misleading and entirely not correct.

Can you explain further why Bitcoin can reduce poverty? Poverty is due to the increasing number of population that result to less work for every person on specific country. Bitcoin can't solve or reduce poverty since it's a currency and it can't generate steady source of income because it's value is derived from traders speculation and not with continuos supply of liquidity from money printer like fiat.

Bitcoin can help someone out of poverty if he has money to invest but still it's not guarantee success rate.

It is not right to outrightly say that bitcoin can reduce poverty because the only way poverty can be reduced is through creating job opportunities for people and bitcoin doesn’t do that. The number of opportunities created by bitcoin as an employment is not that much and is limited to only tech oriented people. The only way to earn is by investing and this can be done by some with money not just poor people

Probably that would be the case in the future, just like the US dollar and some other popular currencies we have today. One day, bitcoins will be used for buying things or services without worrying about converting them first before we can use them, and we are clearly heading that way once they improve the transactions and the security of owning them. Maybe if only we didn't have these negative hostile people that continue making false narratives about bitcoins, we already using it all over the world as an accepted currency, but now, since we have these people and countries that are still hostile, we are far from it today.

Do you really need to go through an argument parade with others on bitcoin discussions when you know that it's not by force to accept bitcoin but by choice, those that truly needs a change from how we operate overtime with using government regulated financial institutions like banks will understand better why they should prefer something new and better than traditional fiat, those you're arguing with don't actually knows what they are missing and the opportunity they could get when they try out something new with bitcoin adoption.


Bitcoin is already changing lives for better been a decentralized digital currency, we have control over our finances, we can trust the eource to which we store our asset with the use of blockchain technology and the secured p2p network for making payments, the privacy benefits, the lower transaction fee with cross boarder transactions and many other opportunities that had helped improved lives through bitcoin adoption people can point at such as employability and profitability with bitcoin.

OP I appreciate your positive thoughts about bitcoin that you even attribute to helping reduce poverty for holders who make it to the goal. Actually I do not understand the whole of your writing. But I would assume the goals you say are like someone who has a strong hold on bitcoin over the long term (Hodler).

Regarding the decentralization presented by bitcoin, it is indeed the main attraction for me personally. Even before, I didn't really think about the knowledge of the financial system that adopted a centralized system. So at that time I felt fine holding fiat and keeping a lot of it in the bank. But after I learned about bitcoin and about how we need a system that is not centralized that makes us have freedom and full control of every asset we own. And the presence of bitcoin has become the answer for everyone who wants the freedom to be in full control of the assets they own.

And in essence Bitcoin has indeed brought awareness to all those who study bitcoin about the importance of privacy and the importance of transparency in transactions and also the importance of having full control over the assets we have.

I don't know what you mean, I found no correlation between bitcoin, decentralization and poverty. Bitcoin was not born to reduce poverty. I doubt that you have read and understood the concept of bitcoin in the way you have presented it.

Bitcoin is the opposite of fiat. Bitcoin was born decentralized to fight centralized fiat hegemony. Talking about bitcoin then talking about money. Bitcoin is an investment asset, and you need money to buy bitcoins. There may be a way to get bitcoins for free, by following your signature project but it's not from bitcoin vision. So maybe you better understand bitcoin as a whole before you relate it to eradicating poverty, because I don't think there is any correlation at all.

Bitcoin by itself is not a magical solution to eliminate poverty. However, he helps people to receive money in one country and transfer it to another, which can only simplify life. Also, due to the lack of intermediaries as in offline business, you can develop your small business and run away from taxes in some countries)

If you're just beginning to realize and think about the idea of decentralization how and what exactly did you argue about? It doesn't sound what a newbie should do in my own opinion...


Just as you have mentioned Bitcoin is decentralized meaning you have control over the coin you own but as to Bitcoin eliminating poverty I don't really that's the main reason. And since you mentioned "potential" in your post title I thought you were going to provide some advantages of Bitcoin but coming to just see "reducing poverty if allowed to achieve it's purpose" it's purpose it's to get individual the power to control their own finance themselves and you profiting from its price volatility is just an additional stuff.

Bitcoin is not a source of money for everyone to come and withdraw money like a free ATM. It can not help to reduce poverty. Did you read the zero sum game theory?

What is a zero-sum game? (https://en.wikipedia.org/wiki/Zero-sum_game)

How can peer to peer transactions help to reduce poverty?

bitcoin is transacted on its blockchain (Bitcoin blockchain), peer to peer and 1 bitcoin is 1 bitcoin. You move 1 bitcoin to another peer and it will be a bit less than 1 bitcoin if minus a transaction fee. No one get rich with two peers in the transaction.

I thought it is the gain people get from the investment and from trading will make people to move from the poverty zone to average citizens or middle-class. The per to per can not reduce poverty but it only gives the privilege to make free transaction without any obstruction or monitoring by a third party. But the profit made from Bitcoin will reduce poverty. Yes people that are using Bitcoin now is not up to the people that are not using Bitcoin. So by the time when the people that use Bitcoin are more. The poverty rate in the world will reduce significantly. If people use the opportunity well, Bitcoin will be a poverty eradicator in the world.

Wait, how can Bitcoin reduce poverty if the poor can't afford Bitcoin? Maybe Bitcoin can change the life of someone who buys it, holds it for a while, and sells it when the price increases. It will reduce poverty because that person can benefit from investing in Bitcoin.

If, in your country, the government has accepted Bitcoin, you can use it for various purposes because surely many local shops will use it too. This makes Bitcoin even more popular and will be adopted by many people. And if that person can set up a shop and accept Bitcoin as a means of payment, he can benefit from selling his Bitcoin to fiat especially when the price goes up.

I think there is still a lot of hidden Bitcoin potential that we don't know yet. For now, we should use it as an investment or trade and make more profit. And when all countries accept Bitcoin and it can become a means of payment in all countries, we will see the development of Bitcoin.

You reminded me of a movie called Matrix and the term is mostly used by an influencer on social media to wake up the new generation from the sleep of slavery of the rich. I meant to say, why many are in poverty and some are rich, some will say they are making more efforts and they are hardworking and they take risks so that's why they are millionaires and billionaires but the poor also, do the same but why they aren't rich?

The reason is they have become a slave to a centralized system where governments and institutes want to control them in their favor (to fill their own pockets), But BTC had provided the poor a way to escape from the matrix and many have already been escaped and those centralized authorities didn't like it and that's why they are attacking the Decentralization system of BTC has provided by introducing the tokenized BTC ETFs. (I am not trying to create some kind of fud or fear just stating the fact I have in mind).

The point is, when those centralized authorities will have more BTC under their control then they might control this decentralized system by making a collusion. Which will be terrifying for the poors and rich too. So, till that happens, BTC has a lot of potential and it will keep growing until there are poor in the society and rich too. Because both are using it in their ways to save their money. And in that usage, BTC is getting more adoption.

I really doubt it, I'm not pessimistic, but I never thought that bitcoin would be able to become the currency of the world. Although Satoshi's purpose in creating bitcoin was to be a decentralized currency, since the day it was used, people have treated it as an asset for speculation rather than using it as money. Even if bitcoin doesn't volatility and becomes stable, I don't believe governments will accept it as a currency because bitcoin is decentralized. If they accept bitcoin, the government will lose control over its people. Do you think they will let that happen?

Poverty is not solely about transactions or payment mechanisms. It truly shows your ignorance if you think Bitcoin can solve poverty. Poverty is a complex and multi-faceted problem, by saying the P2P Bitcoin transaction mechanism might solve it, it conveys that you seem not truly comprehend Bitcoin, especially poverty issues.

Also, you are assuming people have financial and digital literacy, a precondition to utilize Bitcoin. Those who are categorized as impoverished people are very likely exempt to have that two things. So, nope, bitcoin won't be able to help reduce poverty in a significant manner.

I think it all boils down to your thought that there are people that are in living in the poverty that holds Bitcoin. There are for sure but if we look at the average people that are holding people, they're also living averagely and more of those that have been holding a lot are the institutions that have always been reported that they've been continuously buying bitcoin. Whilst going straight to what you're pointing out, it is for sure going to give a lot of people financial freedom and the higher the price of Bitcoin, there will be a lot of lives that will be changed forever. But how long can we hold and at what price are we going to sell? It depends to each their own.

Decentralization is a major concern but it is not the only concern considered by the Bitcoin community in my view the self-custody and beauty of the consensus of POW and noble demand and supply control brought more attraction to the investors. We are moving very fast in the field of technology, we dumped the paper currency and fiat currency (Partially) in a rapid mode. It was expected that this economic development won't last long but it is ending more quickly from the expectations.

Bitcoin is a very superior digital asset and mode of payment, it can't be tricked now by the lame excuses of

⚫ Energy consumers,
⚫ Non-legal tender,
⚫ Money Laundering,
⚫ Environmental Impacts,

blaa blaa blaa, we have already explored all the solutions to these above problems, the only issue that they can push more against Bitcoin is now volatility and it's also getting balanced. So stay tuned soon we are gonna hear big news about the Bitcoin which are going to lead BTC to a new glory.

I don't understand how p2p can reduce poverty. A currency can't reduce poverty because it is not everyone that will be privilege to have bitcoin,especially the poor and needy that don't have enough to eat. How will they have money to buy bitcoin. It is only the government that that reduce poverty in a country through skill acquisitions


Fiat is important in our lives for our daily spending,and for purchase of very cheap items. Imagine that I want to buy a note book,I can't use bitcoin for this because of the transaction fee which might be higher than the price of the note book. Another example is the petty traders,someone selling pepper or candy,it will be impossible to use bitcoin. Bitcoin is an alternative currency that uses p2p payment method in a decentralized form. Bitcoin is limited and will not be enough for everyone to use like fiat because it can't be printed by the government.

How is the whole idea of decentralization linked to the reduction of poverty? And how is reduction of poverty understood as a peer to peer transaction mechanism?

I'm really confused with what you're trying to say here. You seem to be putting too many ideas in a single paragraph that its main point can't be found already.

Although I don't believe that Bitcoin is created to reduce poverty, that it removes third parties or middlemen in transactions means less fees. So Bitcoin users would save a lot.

I totally agree with you on the power of decentralization. The inventors of Bitcoin have truly made a remarkable contribution to humanity. In my opinion, Bitcoin has the potential to make a significant impact in reducing poverty, mainly through its peer-to-peer transaction system. As more people embrace Bitcoin, there'll be less need to convert it to fiat currency.

When I look at the financial crisis that has happened in the past,  I agree more that Bitcoin will do a lot of good to everyone that is involved with it. In a world where the government prints limitless amounts of fiat whenever they feel like enriching their pockets, often time spiking inflation and other economic predicaments that hurts the poor even more. This is why governments and centralized authorities don't like the idea of Bitcoin - Especially since it's something they have little to no control over. They'd come after Bitcoin as much as they want (like they have done in the past) but it won't matter any more. What this space needs now, is to address two important concerns for bitcoin to go mainstream and get massive adoption.
- Scalability
- Low tx fees.

We can't convince the masses that they should stop using fiat to use crypto when the transaction fees are like 2-7x more for the average transaction with average computing units for the execution of the transaction.

As long as bitcoin is present in this universe, if you look at it from a financial point of view, quite a lot of people have been helped financially. Especially for bitcoin investors who buy bitcoin when the price is really low.
But from what I know so far, even though bitcoin really has made a lot of investors get quite a lot of profit. But if it's for the problem of helping the economy on a global scale or in a world economy, in my opinion, bitcoin still doesn't have much influence or help quite a lot. That's all because bitcoin users in the world are still a very minority of the total human population, and that's why bitcoin is still unable to help significantly for the progress of the world economy.

But even so, I'm always optimistic about bitcoin, because currently bitcoin is still said to be in the process of moving towards that goal and I'm sure that in the future bitcoin will definitely be more able to help the economy on a global scale. Most importantly, current bitcoin investors must be able to support and always make bitcoin viewed positively by all people in the world.

I don't think Bitcoin's purpose, as the op says, is to reduce poverty. Bitcoin appreciates in value, and that can help some people if they are lucky to invest at the right time and wait long enough. But Bitcoin isn't meant to reduce poverty, and I also believe that has nothing to do with decentralization. Decentralization means that people can truly be the owners of their funds, and that nobody can set up monetary policies to try controlling the price of Bitcoin. But that is not related to fighting poverty. It seems that most people in the thread also agree that Bitcoin isn't about reducing poverty, but provide different explanations.

This really isn't something we should be talking about.Topic seems stale and really hold no water. Perhaps you should rephrase your question or just don't say too much

You make an analogy with a slightly different context in my opinion, because if the majority of people in this world are willing to accept Bitcoin for many things and for many payments, of course there will be fewer fiat users. This will also happen if everyone in all corners of the world already knows Bitcoin and uses it, because if there are still some of the world's population who don't know Bitcoin. Of course the use of fiat will continue and continue as usual and fiat will not just disappear in all circles of society.

How? How can bitcoin be useful in reducing poverty? Have you read the white paper of bitcoin and Satoshi's true purpose in creating bitcoin? Bitcoin is just a currency, and if you want to make money, you need to work, bitcoin is not free for anyone, so it cannot help alleviate poverty. Even if bitcoin is an investment, it cannot do that because there is no guarantee that a bitcoin investment will always generate a return. Too many people are misinterpreting bitcoin, they are being delusional and exaggerating everything.

If you are poor and in poverty, you have more priorities than invest in Bitcoin. You can not invest in Bitcoin and get rich after one day, it's unrealistic dream. If you understand it, you will use your money to buy food to live first.

Hopefully people are in poverty will not unrealistically think that they will get rich after one night with Bitcoin. I very hope so because if they have such belief, they will be invited to Ponzi that only causes them from poor, poverty to suicide.

The poor can be benefited from Bitcoin even they don't have money to invest. They can learn and work with jobs in blockchain industry as free lancers. They can receive salary in bitcoin or use their salary to buy food till a day their life is good enough to buy bitcoin.

Not sure why people think that Bitcoin would help poverty at all. I've been seeing such threads back in 2017 if Bitcoin can even eliminate unemployment. Those people might need to look another way to earn money as Bitcoin isn't really made to make money although I understand that you can still earn from investments.

You're 100% right about people not just having Bitcoin magically if they don't have fiat. That's the simplest explanation that Bitcoin cannot really eliminate poverty at all.

Kinda done overthinking on why people still think crypto would replace fiat. We already had banks issuing credit cards as cashless method of paying, but still fiat continued to exist. :D

Right on. There are priorities set and more important things to spend money rather than to invest in Bitcoin. But if someone from that bracket manage to get into Bitcoin at the same time and DCAs despite the tough situation that he's in, that's an admirable situation and move that he's doing. The latter part is one of the saddest thing, because they're poor, others are taking advantage of them from giving them false stories and explanations by getting into such scams that promises high rates of returns.

Yes, this is a good way for them to their careers as long as they've got the knowledge and skill that's being asked by a company whether they get paid in bitcoin or $. And by that, they'll have a purchasing power unlike before and the rest will become a history.

You can say Bitcoin can reduce poverty for the seleted people who are risk takers. Reducing poverty doesn't mean anything with the machanism of peer to peer transection. To reduce poverty of a country need to reduce unemployed people and convert them to employed. Bitcoin is a digital currency which can be a good investment but when your country have a problem of poverty how they can invest in this for long term and most of them will be discouraged or they will not be able to gather some assets by reducing their daily costs.

But there are some other ways where no investment needed.  they can be expert in crypto and write articles, can be expert on Blockchain technology or be a developer. So Education can reduce poverty with the help of Bitcoin.

As I've said before, only greedy people don't accept Bitcoin.
Those who have never accepted Bitcoin and who do not acknowledge that Bitcoin has done so much good for people have a greater purpose behind their claim.
As wise advice, save positive energy and avoid arguing.

Bitcoin aims to provide freedom of control over assets without any control from anyone other than the owner.
A good hedge is not fiat so that smart people won't switch to fiat.

Most of the true believers will not like this, but to be honest, bitcoin has yet to achieve significant achievements in the field of economic finance. I agree that Bitcoin is a smart, innovative idea that is changing the world day by day. This coin will not crash because it is a scam, but because it possesses strong programmed regulations, is anti-corruption, and is free from regulatory interference. While Bitcoin adapts and evolves by moving to a set of abstract protocols and defenses that will help ensure the currency not only survives but thrives, But in reality, bitcoin plays both as dark and as bad as everything else in our lives. If you are working on a project in this area, then you are building the world of tomorrow, but don't expect this to happen anytime soon.

I think Bitcoin is an innovative technology that challenges the status quo of money and transactions. I wonder how Bitcoin will cope with the challenges of scalability, regulation and adoption in the future.

Unlike other international currencies, Bitcoin is not currently used by most people in the world. But if the single majority of people in the world use Bitcoin, Bitcoin will become a very popular digital currency. Currently, as the US dollar is an internationally recognized currency, if Bitcoin is accepted as an international currency alongside the US dollar, the use of Bitcoin will increase compared to the use of the US dollar.  Because of the lack of approval of Bitcoin in different countries, a large number of people are using Bitcoin, if this coin is approved by the government, then this coin will reach the top position in terms of popularity and transactions.

You are right that BTC will eliminate poverty if the authorities will not interfere with it. Because many people are earning money just due to the presence of BTC and can send money from one country to another country with lesser transaction fees.

Developing countries are in the list of top 10 countries who have adopted the BTC most. And the only reason is, btc had helped them to make their lives better then being in poverty for always while all the doors to jobs and employments are closed due to inflation. Many started to do trading instead of working under a centralized system because they value freedoms now. Before they have to work as slave under the boss and now they work independently whenever they want.

This will enhance the bitcoin potential because more people are in favor of adopting it to make their lives a better one too.

Sincerely, I think that certain people's lives have been considerably improved by Bitcoin, but only those that adopted it and made investments in it at is early stage when it come to existence or people that may have money to invest in it.However, I wonder how many poor people will have the chance to invest in Bitcoin when many people cannot afford to feed themselves three times a day due to this challenges of bad economy we are facing in world. infact even government regulate Bitcoin,it is only people that money that will invest.in short the basic goal of Bitcoin is to provide individuals with the chance of freedom through decentralization, enabling them to manage their assets independently of others.i don't think is purpose of eradicating poverty in the word.

The bitcoin based on the decentralised network,it’s main reason for the survival of bitcoin over a couple of years.It was started over a decade,the blockchain was struggle at the time of beginning.But now the bitcoin ruling the investing community.Most of the traders doing their fifty percentage of the investment in the cryptocurrency now.Now the people had huge interest in the cryptocurrency investment.

Please elaborate how can it eradicate poverty, let it be in any context. I can't understand how do people say that? Yes it does gives some extra opportunities to some people to earn. But so does AI, so does cloud computing and so does every new technology. Bitcoin isn't going to help in re-etablishing world order for sure. Rich are still going to be rich and poor are going to be poor.

Bitcoin is not for alleviating poverty because the path is different for each financial capability possessed by groups of people who use Bitcoin as an investment asset.
With the rapid development of information about Bitcoin all over the world with the knowledge gained from reading about the direction and benefits of Bitcoin, various groups of people can use Bitcoin as a means to convert fiat into Bitcoin in the sense of saving for their hard work while working on a real job.

I have been going through every reply. It's not good to give such a remark, you saw everyone giving their point, if don't have anything to say ,it is  better not to send a reply than sending something that makes you look Superior in knowledge, you can not contribute to the platform with such an attack. I have been reading and seen others view of the matter which I really appreciated. If don't understand the topic of discussion you can look away

Right now we just need to think realistically, don't be too much of a FanBoy.
I do like Bitcoin, all of us in this forum certainly support Bitcoin.
But when Bitcoin is associated with poverty reduction, it is still not in line.

No poverty can be solved with a Digital Asset if the government itself does not provide full regulation.
See how the government treats Bitcoin. some other governments even reject Bitcoin and ban it.

Peer-to-peer transaction mechanism has good advantages in the Bitcoin platform, but will it be a reason to alleviate poverty? of course, it will not be that simple.
Bitcoin adoption is still slow, and people are not fully familiar with Bitcoin.

People who are at a low economic level and are not tech-savvy, find it difficult to understand Bitcoin.

I hear you and feel you on all of this, but that's the problem, is that many governments are doing anything they can to try and get their citizens to stop using bitcoin because it goes against their centralized money system, and lets be frank about it, it's hurting them.  Decentralization of money, as a financial advisor, is the best thing to happen to money.  This is what got me interested in bitcoin in the first place back in 2014

It reduces poverty because it removes the unnecessary gravity that is attached to money - inflation.

You work for 1000 units of currency around the world and that could deteriorate to a value of 900 units (In terms of goods and services that can be purchased) in a matter of months. After 4 years, it might be worth 500 units.

In some developing countries, this happens at a much more accelerated rate.

This is a gravity effect. You work so hard to move up, only for a force to be pressing you back down. Bitcoin is the opposite.

1000 units of bitcoin over 4 years, historically fluctuates those units between 500 and 10000 units, usually ending positive over a 4-8 year period. All of a sudden "value gravity" goes the other way.

Same here,  I also think that Bitcoin cannot solve poverty because it is not design to be a poverty dissolver.  Bitcoin is created for freedom of transaction where a person does not need to rely on third-party exchange to process fund transfers.

Bitcoin adoption may create jobs as new companies are emerging to take advantage of Bitcoin as new industry, but it was not Bitcoin that creates jobs for these people, rather the company that was founded in order to take advantage of Bitcoin being a young industry.

A time when bitcoin will become accepted as a means of exchange, a time when we will no longer have to convert our bitcoin to fiat before we can spend it on goods, services, food stuffs and other basic stuffs is really a time I am personally waiting for, it will be so great to enter sites like Aliexpress, ebay, Amazon etc to order great stuffs and comfortably and conveniently pay with Bitcoin, and receive those items here in my country easily..

I am so so waiting for that times and I hope it happens real soon, I will be the happiest.

Global and local economics is what is responsible to reduce poverty locally and around the world, BTC was not made for that, BTC was made to be a currency that is permissionless for anyone to use without a central authority. BTC price may be volatile because of its fixed supply and the demand for it, but it cannot reduce poverty significantly or make everybody rich as some people believe, if you buy BTC early and hold it for long it can give you good revenue, but not to the extent of eradicating poverty in the world and not many people can lock up their money in a BTC wallet for years without spending it.

Although Bitcoin has helped to elevate some people out of their poor financial condition to a much higher level, some people have benefited from Bitcoin investments to the point where they have made a whopping profit that they might not have made from any other investment. Despite that, I don't suggest that people should see Bitcoin as just something that can bring an end to poverty because if they have that conviction about Bitcoin, they will definitely have the wrong approach to their investment, and it will be a great disappointment if they realize that Bitcoin did not help them archive what they planned. If you go back to your search, then you will realize that Bitcoin was created as a means of P2P payment or transaction currency. Bitcoin was created so that we could have the freedom to take control of every aspect of our finances. I have been in Bitcoin for about five years now. I have not read in any article that Satoshi created Bitcoin for investment purposes, but the truth is that Bitcoin is a store of value, an asset, and if you save your money in Bitcoin, it's likely to generate profit for you instead of deteriorating like fiat money.


Cheers 🥂, Dr.Bitcoin_Strange 👺👺

Bitcoin doesn’t make people rich my friend. At the time, most of us have been able to make some money off it because of its volatile nature, serving as an asset and in turns, increase your hodlings when it pumps just as it reduces it when it dumps. The idea that accepting it for a means of exchange and reducing poverty doesn’t go very much as, it’ll be serving as a currency.

For all we know, serving as an asset could be a some worth passive idea that could die away with the times as the price progresses. When that happens, we could just have it as a store of wealth and it serves its currency purpose.
Hence, you don’t get to own what you don’t already have.

 Op the sole aim of bitcoin wasn't to eradicate poverty, because satoshi's intention of bitcoin creation was to serve as a means of sending and receiving money online, it's sole aim was to serve as an alternative money to fiat for making online payments easier, safer and faster, without the control of the government.

 He made it in such a way that there should be no intermediaries  like banks and you can only buy and sell from exchanges but lately there's a peer to peer means where you can buy based on trust from friends or close people who already have  stored bitcoins bought from those exchanges but the selling rate may differ based on your negotiations and it's not advisable due to risk and trust issues.

 However the price of bitcoin varies with time there's loss and yield when it comes to bitcoin investment so it shouldn't be described as a means of poverty alleviation because one could loss a good amount of money when it's price is on the bear run, but there's one very useful benefit of bitcoin I love which is the fact that it doesn't require a very high transaction fee or maintenance fee like banks.
 

Most of the world still does not accept bitcoin as a payment for goods transactions, if you want bitcoin to replace fiat money, it is very difficult. Governments always want to control the flow of people's money, so bitcoin is not possible. But bitcoin futures could be a good asset for us to hold

It is the usual, everyone interprets bitcoin as they see fit, but bitcoin does not get anyone out of poverty, perhaps its initial success that placed it in a profitable asset in reference to its initial price, is something that is permanent in the illusion collective, at least of a few.

Regardless of whether its price allows you to consolidate it as an investment asset, Bitcoin is essential to empower the individual right to have control of our assets.

Yes, early adopters of Bitcoin have indeed profited enormously. Yet, this does not discount the potential for Bitcoin to uplift many people from the shadows of financial exclusion. The power of Bitcoin lies in its accessibility, its universal availability without the need for traditional banking infrastructure.

Consider regions with low financial inclusion, where the nearest bank might be hundreds of kilometers away. With just a simple smartphone and an internet connection, Bitcoin can offer these people an avenue for savings, investments, and secure transactions. Is this not, in its own way, a measure to combat poverty?

Admittedly, the initial cost of investment might be a barrier for some. But lets not forget Bitcoin's divisibility - one doesn't need to own a whole Bitcoin. Even a fraction could increase in value significantly. As for government regulation, it might add credibility, encouraging more people to invest, potentially driving the price up, hence benefiting those who already hold Bitcoin, regardless of their economic status.

The post you have written Op has no connection to how Bitcoins can solve poverty. Bitcoins are famous and are heavily used due to it’s decentralised nature. Yes with this decentralised nature, you can avoid paying the unnecessary taxes , that you are forced to pay, but how this gonna end poverty? Bitcoins surely have lot of potential, that’s why it’s one of the biggest digital asset in the market right now. It will definitely grow much bigger than what it is now. We have to just keep patience and watch till the end.

We everyone have access to bitcoin, as long as we know what we're doing with cryptocurrency; it might be difficult to generate profits at times, but it can also be quite easy; that's simply how we print our gains and record our losses. People have diverse perspectives on bitcoin; for some, it is a retirement plan, while others invest and extract their winnings gradually. However, bitcoin cannot be guaranteed to be 100% available in the future; we act and believe what we believe, and we have our own reasons for supporting the projects.

Like you, I haven't seen the information on how Bitcoins can solve poverty. Everyone looks at Bitcoin the way they want to look at it and attributes different meanings to it.

Of course, for many of us, the value of bitcoin is priceless, but it has to go through certain paths first. I don't know how many years from now, but bitcoin will make a lot of things better. But first we have to go step by step. We have dreams about Bitcoin and to realize these dreams we must take firm steps and protect Bitcoin at all times.

Yeah I kinda agree with you on the poverty thing. Like if you are truly in poverty, where you have to spend everything you have just to survive, Bitcoin ain't gonna do much for you. In fact if you are at that level of abject poverty you probably won't have access to the internet or any devices with which to use Bitcoin in the first place, or be able to spare the few dollars (cuz in poor countries a few dollars is like a few days worth of food) to get some bitcoin and move it onto the LN to use in transactions.

But at a bit higher level of poverty I could see it helping at least some. For anyone with access to the internet (and indeed plenty of fairly poor area in third world countries do have access to cell phones with probably some sort of internet capability) who can save any amount of money, Bitcoin helps because it is hard money. Even more so in countries with really weak currencies where saving money is barely useful at all since the currency loses value so much. If people in poverty are able to save a little bit of money at a time in Bitcoin, in a generation their kids might be out of poverty with the appreciation of the Bitcoin they saved. Also since Bitcoin is an open system it means people in poor places can transact with this better money.

Anyway, the idea that Bitcoin solved poverty is only somewhat true. Bitcoin is very useful for the unbanked that aren't in abject poverty, for people in countries with horribly debased currencies, for people in any country with money to invest in assets to grow their money, for unbanked areas who want to be able to use digital payments, for anyone able to save money, for people barred from accessing financial services like some countries in the middle east who don't allow women access to traditional finances or banks, and for refugees and immigrants who want to be able to bring their money with them. But yeah it doesn't help those in total abject poverty cuz those people wouldn't be able to get onto, or afford the onboarding into Bitcoin.

What does the OP mean to be able to improve their economy financially when someone already knows bitcoin and invests in it? But if it is to alleviate poverty then it is the government not bitcoin.

Bitcoin has grown rapidly and now almost the whole world has recognized it (not that it's always public) but we already know how the benefits and how bitcoin works and with the technology that is owned, it would be very natural if more people would use bitcoin as their investment asset to get a high ROI over a long period of time.

I agree, it is the government that should be responsible in minimizing poverty in a nation.  Bitcoin is a technology and currency and has no say on the poverty of a country, it is just a tool to be used by the government if they wanted to, to alleviate their country's poverty by taking advantage of the trend of Bitcoin through adoption and approving Bitcoin start-ups that then give job opportunity to its citizen.


Indeed Bitcoin adoption is the key for these Bitcoin investors to get a high ROI but the waiting time will be shorten if the government fully adopt Bitcoin since people who are hesitating will then fully engaged in Bitcoin investment since the government had acknowledge Bitcoin as a legal thing.

People see bitcoin's propensity to reel in profits in massive hauls and the first thing they think of is that it helps solve poverty. It's not and it shouldn't be looked at as the one thing that could help you out of that poverty hole you're in. Bitcoin is a tool that could help you reach financial freedom yes, but to get there you actually have to put in money in the first place and start with learning trading disciplines and all that. If you can't afford even coming up with the capital then there's no chance bitcoin could help you even if it tried.

Plus it's not always rainbows and butterflies with bitcoin mind you, there will be times when bear runs will drive you insane and put you on a negative balance, people who can afford to lose money like that are at least able to get by in this industry, at most achieve success, but if you couldn't cause you're impoverished in the first place, how would you be able to?

The purpose of Bitcoin is to serve as a digital currency for p2p transactions; it was never created to end poverty, but since Bitcoin is a store of value, it has made some people millionaires as they accumulated it when price was low while the value increased with time. But Bitcoin should not be seen as what can put an end to poverty; a lot of people are getting it wrong with the motive of getting rich quick if they invest in Bitcoin. With such thoughts in mind, most people have lost their money because they never had enough knowledge of what they were doing. In Bitcoin investment, there's the rule that says, "If you don't sell cheap, then you have no loss." Some people do not live by those rules before investing, and after they have invested and discover that their capital is reducing due to market volatility, they just rush and sell.


Cheers 🥂, Dr.Bitcoin_strange

I think the cause to this "rush and sell " is the lack of knowledge about what you actually invested in, bitcoin should never be seen as a get-rich-scheme because its actually a currency and was created to solve the issue of centralized money system in the sense that you can actually be the bank to your own money but overtime it has gain fame and popularity due to its increase in value which many people who has and had the knowledge are still benefiting as an investment means.

@Mr.suevie, some people who sold cheaply or due to volatility pressure did so for Many reasons, although there are people who sold because they had a vision for short-term investment, and some were scared because they thought their asset would melt because of price volatility. Some people also borrow the money they invested with, so they can't stand to see the money dip, although all of these attitudes circle around a lack of full knowledge of what they are doing, just as you said. I told my friend that a successful Bitcoin investment is based on the level of knowledge you have about Bitcoin and also on your source of information, because on the internet there is a lot of confusion and misleading content, but the BTT forum filters it out once such content is brought here, and for someone who is not on this forum and is getting information from the wrong source, they could get misled.


Cheers 🥂, Dr.Bitcoin_Strange 👺👺

Good. That's the answer that leads to a solution in navigating my version of poverty.
The government is responsible for poverty. I don't know how each country regulates laws or other written regulations related to poverty.
In realizing poverty reduction, the government's role must be seen in the various programs carried out.

That's why I dare to say that Bitcoin is not to reduce poverty, but in terms of its use Bitcoin can be a good solution to increase welfare through long-term investment channels apart from being a good hedge.

Bitcoin, in my opinion, will not reduce poverty since not everyone is determined to invest in Bitcoin, particularly if your salary is enough to cover your daily expenses. However, there are some people with a strong mindset who are prepared to take risks and find a way to invest in Bitcoin because they feel they will earn tremendously in the future. Unfortunately, those who can afford to invest are primarily those who are already wealthy, while the poor become poorer.

I don't agree because in Bitcoin a low salary person can also invest money and it isn't only for the ones who are wealthy. Although, you're right that it can't reduce poverty but it can control the increase of poverty if the poor people and the ones with low income invest in it. We are still not aware of full potential of Bitcoin because we think that its price is already very high and it can't go any further, but we have always been wrong in this regard because Bitcoin has always been breaking its all time high after each halving event.

After doing some research on YouTube I found that a guy in 2013 said in his video that everyone should invest at least $1 dollar in Bitcoin if they want to be financially stable in future. Many people made fun of the guy in those days because they were the skeptical ones who weren't aware of the true potential of Bitcoin. The guy's words became a reality when Bitcoin reached it's all time high in 2021, and many people who followed the advice of that YouTuber might have made a good fortune if they had invested 100-1000$ in Bitcoin at that time.

Actually not in a direction that is not needed, but more to the loss of conversion into fiat when everyone can rely on Bitcoin for all needs on all lines of life. And I also really believe that one day poverty will decrease when there are many people who can become more independent after knowing Bitcoin and benefiting from it, because when everyone can take advantage of certain moments every year and get better profits through Bitcoin, it certainly has become a help for them to be better in life.

Since the birth of Bitcoin there have been many debates that occur, and now Bitcoin is getting more and more users because with its decentralized nature it is very difficult to change the flow of Bitcoin's journey, so now Bitcoin is very helpful for the economy of people who already use Bitcoin and know how to overcome it to be able to benefit, although some of the people still doubt the journey of Bitcoin and performance that is difficult for us to predict, So in the future Bitcoin will be a serious threat to fiat currencies.

bitcoin can make people rich or even poor. it depends on how we have knowledge about bitcoin or just hunting lust to get rich quick. as the saying goes like a double-edged sword. therefore, before we invest, at least we know how bitcoin works, so that we can calculate the risk and reward that will be received, so it's not random to enter and exit the market, or at least be able to respond to market fluctuations that occur

One possible advantage of this decentralized strategy is the capacity to relieve poverty, particularly in developing nations where access to traditional financial services may be limited. By facilitating peer-to-peer transactions, cryptocurrencies can enable individuals to engage in economic activity and exchange value without depending on centrally managed entities.

However, it is critical to note that cryptocurrencies alone are not a solution to poverty. While they can provide a means of trade, they do not address the underlying economic and social conditions that contribute to poverty. Furthermore, the volatility of cryptocurrencies might pose dangers to investors and restrict their value in some circumstances.

Your viewpoint presents an interesting perspective on the potential benefits of investing in Bitcoin. However, as a gentle suggestion, one might consider re-evaluating this viewpoint with a bit more... nuance.

Yes, Bitcoin doesnt discriminate between rich or poor investors. However, it's important to remember that this 'financial democratization' does't necessarily lead to wealth distribution. As an investment, Bitcoin is notably volatile and risky, meaning that those with fewer resources to spare are potentially more susceptible to losses.

True, Bitcoin's growth has been nothing short of spectacular. Nevertheless, the "sky's the limit" mentality might be slightly misguided. Just as a rocket's upward trajectory eventually plateaus, market dynamics also dictate that indefinite exponential growth is... unlikely, to put it mildly.

In order to understand and grasp the essence of Bitcoin, extensive studying and research are necessary. It is important to recognize that the primary objective of Bitcoin was never centered around generating quick profits or alleviating poverty. In fact, the truth is that Bitcoin emerged with the aim of addressing the challenge of sending money across the globe without the need for intermediaries, a concept known as decentralization. However, in present times, many of us perceive Bitcoin primarily as an investment opportunity. Nevertheless, Bitcoin remains true to its original purpose of revolutionizing global money transfer systems.

The question of trading bitcoin comes only after you have an established base of money to bear your bare necessities and doing surplus on top of that. I see the future of Bitcoin trading having a prosperous aspect but the basic needs come first.

However bitcoin does not solve a poverty problem with this. It can help people make money but that money comes from existing money and not out of thin air. There are many who are in this thought process and hence assume that Bitcoin will solve their problems, it's not the case. Rather those who are in stable economic conditions need to segregate their assets in such a way that money can saved for trading to make money. However this is all words and not practical unless you have the capital at hand.

Enthusiastic people should at first try to improve their own conditions first but then grow it with time and gradually collect bitcoin and increase their stash.

Bitcoin is not a panacea that will solve worldwide issues; it won't solve poverty in third-world countries, but certainly it can assist economically, but mostly on a personal level. Personally, I've been occupied with cryptocurrencies, specifically Bitcoin, since a young age, which has made a huge difference as an individual. Not only am I investing, but I'm also simultaneously saving money every month without needing to rely on a bank that keeps track of your every move. Bitcoin has proven to have huge potential; the previous ATH suffices to make such a claim, but as I mentioned earlier, it can't solve broader issues, and on top of that, it's not supposed to be an anti-poverty measure just because it's an anti-inflation investment. Those who live in poverty don't have access to Bitcoin or investments.

Reduce poverty? If you are not smart in this crypto space poverty won't be very far from you, I want you to know that whatever price you buy coins and tokens someone else will have to buy from you, you will have to dump on them to get your bag of money.

Bitcoin is not cheap any more so even poor people who can afford small money won't make a life-changing money from Bitcoin investment, so you saying that it's Bitcoin investment will reduce poverty is not correct, Bitcoin was easier to get years ago and now it's a digital Gold because if it's value, you can get some part of a BTC but even 10 times of what you invest can't turn your life around and get you set for life.

I don't know if this is due to the lack of knowledge of the newbies or the spread of a part of the bitcoin fanatic because I see many people looking at bitcoin as the savior of the world, bitcoin can be a panacea for our planet. In my opinion, this is actually more of an alarm than a joy when people are exaggerating about bitcoin.

Quite frankly, bitcoin is just money, nothing more, nothing less. Whether we improve our lives or not is entirely up to us, not bitcoin will do it for us. If we want to get out of poverty and be rich, then work hard and invest anywhere as long as it is profitable, bitcoin is not free, and it will not give us financial freedom if we just sit still and do nothing.

to replace fiat currency in countries today it is very difficult, most countries want to control our money flow, but with bitcoin it is not possible

I don't see Bitcoin being able to reduce poverty, especially through a peer-to-peer transaction mechanism that doesn't depend on third parties. Even if bitcoin becomes widely accepted, it can replace fiat currency and become a more efficient means of exchanging value may not necessarily reduce poverty. Moreover, the implementation and widespread acceptance of Bitcoin is still a challenge that needs to be faced in various countries.

Well maybe what you say is true. But it seems that OP also has a different meaning about the meaning of poor that he mentioned. like it's not just a matter of financial poverty. but more to freedom in transactions as with the decentralized system that is owned by Bitcoin.

Owning bitcoin at this time cannot be said to be able to change someone's life for the better in the near future. but if bitcoin adoption goes and grows well year over year. 10 or 20 years later, maybe the price will be really high beyond all of our expectations. If all agencies and countries have adopted bitcoin as a legal payment alternative in every country, the price of hundreds of thousands of dollars may not be a dream anymore.

The person who got bitcoin from its inception and still holds it today. then I'm pretty sure the holder has been helped and will become very rich if he sells it at this time or when the bitcoin reaches its ATH again. because we know at the beginning of the appearance of Bitcoin. getting some bitcoins is not difficult. because the price is quite cheap. but what makes it all so hard to hold onto is because at that time not many expected that bitcoin would become as valuable as it is today. because the current bitcoin price must have been beyond everyone's expectations 10 years ago.

Bitcoin can alleviate poverty, bitcoin can reduce unemployment, or bitcoin can help a country's economy grow if that country accepts bitcoin...too many misconceptions about bitcoin are spreading and passed on in our community. I don't understand why so many market participants without any research just invest in someone's advice and have such serious misconceptions. Bitcoin is just a currency, and to get money, we need to work hard, no one gives us free money.

I don’t quite understand how that get to come in when you say “can’t reduce poverty especially through a p2p transaction mechanism”. How do you mean or of what relevance it is to the parent sentence?

I agree with you that bitcoin can’t reduce poverty as we like to think because, if you aren’t skilled in some way to either earn them, work and get paid in cryptos or earn well enough money to buy and hodl, your still going to be stock right wheee you are.

It’s a currency and like currencies, it’s used in exchange of values. This means,
You’ve got to have some value to exchange for them btc and vice versa.

Yes, that's right, bro, even though bitcoin is a solution, not all things that are considered good can be done by bitcoin. Bitcoin is just an asset and a currency. I am very sad to see that the members of this forum are still wrong in understanding bitcoin, especially people out there who don't know bitcoin, so it's only natural that many people think bitcoin is negative, because they really don't understand bitcoin.

I think many people don't have enough literacy about bitcoin so bitcoin is considered something negative. Moreover, sometimes the media spreads bad news about cyber crime with bitcoin, money laundering with bitcoin, dark web transactions with bitcoin, etc. Even if they know of the profit opportunities from owning bitcoin assets, they may be able to make huge profits. Currently, many large companies have started to look at the potential of bitcoin, hopefully it can create a positive trend for the growth of the bitcoin community

That must be a good point, many people, especially newbies, think that they might get rich after making an investment in Bitcoin which is not true, one can surely get great profits through it if Bitcoin manages to go up significantly after they've invested, but to get rich off of it, one will need to invest a very big amount which is not possible for a poor person to do, so it's basically not good to expect life-changing returns from Bitcoin when you don't have much to invest in it.

The dream of the poor to get out of poverty might get fulfilled if they manage to enter a meme coin hype when it's just starting and buy with their small capital, once it gets hyped heavily by the community and goes significantly high, they might see their few dollars turning into a few thousand, maybe.

poverty is determined by many aspects that cause it to happen, I can agree with you that bitcoin is not fully able to reduce poverty, but it is possible that bitcoin is one that will be able to provide relief from this poverty, by providing opportunities to be able to carry out all activities what can be done with bitcoins. but once again it can change if there is an intention to do it but if there is no intention to do so it will be useless even if there is an opportunity. It must also be remembered that bitcoin is still not fully accepted in several countries and this is of course a challenge.

if we compare bitcoin with fiat the transaction mechanism of bitcoin maybe better. paper money need physical effort for long distance transaction and it is costly, because maybe we need to pay service of the third party such as bank and etc, the longer the distance maybe the more cost for it. I think bitcoin has potential to become currency for export and import transaction, maybe it can be more efficient for some transaction. as long as internet is available then bitcoin will not have problem with the transaction. it can reduce unnecessary cost which may reduce the product price. it is just my opinion, maybe its not really correct.

Of course, Bitcoin is ruling the entire crypto currency market today. One day Bitcoin will rule other places besides the crypto currency market. People who spread negative news about Bitcoin or the crypto currency market will never succeed. If people who are aware of Bitcoin continue their efforts to attract people to Bitcoin. We should tell people that Bitcoin is a great option to invest for the future. There are many businesses to invest in for the future but I think Bitcoin investment will be the most profitable. I think the time is not far when many countries will use Bitcoin as a currency, and surely that will be the best era of Bitcoin.

   Well if you ask me I will say eradicating poverty via the assets of bitcoin will be super exciting news but the barrier still remains the fact that it is yet to be a general means of exchange. Secondly on the verge of making your opinion a reality I see a whole lot of persons being depressed and even suicidal as a result of being scammed and that alone is a bench mark of discouragement.

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Bitcoin wasn't invented to solve poverty, it was investment as a more transparent means of exchange that depends on decentralized blockchain. If anyone wants to solve  poverty issues they'll have to do that by investing and it most not necessary be investing in Bitcoin.

Poverty can be eliminated in various ways like nvest in Bitcoin or make other investment that has been proven to be successful in the past. if you have patience you can make profits then those profits has to be used wisely like investing in your businesses or accumulate Bitcoin.

Bitcoin has potential to make the world a better place where no body has control over your money or you been restricted on when you can send out your money or use it for purchases. Bitcoin was never intended to be used for poverty eliminations so OP don't misinform others.

Bitcoin has been tarnished by mishaps and misunderstandings. I empathize with the public's Bitcoin concerns based on your words. This innovative digital asset is hard to grasp. Bitcoin's hostility may stem from people's fear of the unknown. Education and honest, clear information can modify this impression. Bitcoin's negative uses overshadow its potential as a decentralized, global currency in the media. Bitcoin, like other currencies, is a tool. The user choose how to use it. Large corporations entering the Bitcoin market has legitimized it and increased adoption. This trend may accelerate Bitcoin's mainstream financial integration. Bitcoin's potential impact on the global economy is astounding.

While I don't believe bitcoin can ever become a currency or a legitimate payment method because of its volatility and decentralization, I agree with your thinking. I also thought about this, bitcoin cannot be more convenient than fiat in daily transaction needs because of transaction fees and confirmation times. I don't want to pay extra fees for a cup of coffee or a loaf of bread so fiat is still a better option. But Bitcoin is well-suited as a means of payment for import and export transactions and cross-border transactions because the use of banks slows things down. But will the banks let that happen because they will lose a huge source of revenue if bitcoin replaces them? That is very difficult to come true.

Yeah this is the thought I already got in this one. It’s just currency, I mean like dollar and sterling. Why does it make sense to think like this way? I mean come on, if this was gold, silver or anything else that is traded physically or virtually with a value then does it mean it’s gonna make us rich? I don’t think so.

More than that poverty and richness is all associated with the education, employments within the country, international business relations with other countries and much more. It’s a big subject to discuss to be honest.

when there are those who profit from bitcoin, then there are also those who lose money, therefore bitcoin can overcome poverty by having knowledge about bitcoin so that we can respond carefully to the movement of bitcoin and can generate profits according to our thinking. or in investing by investing in bitcoin and being able to hold it, one day its value will rise and can exceed the inflation rate that occurs so that it can save our money. especially now that bitcoiners are still minimal, if later they develop further, then that is an opportunity

Bitcoin has immense potential as a decentralized digital currency. Its underlying technology, blockchain, ensures transparency, security, and immutability. Bitcoin's limited supply and decentralized nature make it resistant to inflation and government interference. Additionally, its borderless nature enables seamless and fast cross-border transactions without the need for intermediaries. Bitcoin also serves as a store of value and an alternative investment option. However, challenges such as scalability, regulatory concerns, and price volatility must be addressed for wider adoption. Despite these challenges, the potential of bitcoin lies in its ability to revolutionize traditional financial systems and empower individuals with financial sovereignty.

Bitcoin does not help poverty but the involvement of the people themselves who can use bitcoin for the desired needs. There are still many people who have not accepted bitcoin as an investment and bitcoin is only legal to use as a means of transaction in certain areas such as the example of El Salvador and several other places. Bitcoin can be said as a tool to reach the stage of financial independence and it depends on how far people can develop the investment they are living.

When the involvement of bitcoin for someone is only a small and irregular part of investing, then bitcoin will not be able to bring people to the stage of financial independence and indeed the idea of decentralization is an advantage that it has and makes many people feel free in investing without the need to involve a third party.

Even though the of a peer to peer transaction mechanism applies to most people, fiat is still very much needed for now and there is no excuse when your country still enforces fiat as a legal means of transaction and regulations regarding bitcoin have not been fully accepted.

bitcoin is a digital currency and can be used to make payments for those who are interested and if the government in that country
allow its people to make payments using btc.

In my opinion, fiat money is what is most needed because with fiat money, transactions will be better, because it can be reached by all people, because in my opinion, in this world not everyone has cellphones or computers, and so on, and also btc transactions must use the internet, if there is no internet, of course, our will not be able to make transactions.
so in my opinion both have advantages and disadvantages.

Bitcoin will never be able to become a currency and I'm pretty sure of that. We don't need to blame anyone for bitcoin's inability to become a currency because the government will also stop it at all costs if people insist on using bitcoin to replace Fiat completely. Furthermore, how can an asset that is volatile and used for speculative purposes become a currency? Not too many people will accept that. We need to be realistic, not overly delusional about bitcoin.

Honestly, I still prefer using fiat over bitcoin in my daily bill payments because it's fast, and I don't need to pay extra transaction fees to the network when using fiat.

why not stop talking about replacing of Fiat currency because that is not the objective of Satoshi Nakamoto in creating Bitcoin (at least for me) because what I do believe is crypto are created for privacy meaning something to choose from fiat as an option.
so it is not to replace Fiat instead to help people and the world.
and also that is it , for the government not to have control over users.

You're right mate, Satoshi never intends to compete other existing currencies, but he make a discovery of bitcoin in other to make provision of an alternative to the fiat currency whereby we can individually make the decision to adopt bitcoin or not, but since what he invented is what actually solves the people's needs, this make it more interesting for for the people to by themselves seek for financial increase, privacy and other benefits with what he has introduced, just as bitcoin does not stops the acceptance of fiat in El-Savador, both bitcoin and USD are legal tender, but with time, people may decide on which to finally settles with after having both experience in fiat and bitcoin.

Governments may strive to prohibit bitcoin as a currency to protect their monetary sovereignty. Isn't it shortsighted to say that an emerging asset class like bitcoin can never become currency? Traditional currencies have also experienced volatility. Hyperinflation in Zimbabwe and Venezuela? Gold, for instance, has been a medium of exchange, a store of value, and both several times. Why not Bitcoin? Yes, transaction fees. The Lightning Network is addressing this issue. Imperfect things can improve.

One US presidential candidate stated that he will promote Bitcoin as a backup to the dollar. What can you say about this?  This simply means that if that person won there is a possibility that Bitcoin can be a currency even if it is just a back up the USD.

Little by little we see people from the political side taking Bitcoin adoption as agenda to garner support from the masses.  I believe that even though it is very impossible to think that Bitcoin can be a national currency, there is a small ray of light for it to happen.

Btw, Bitcoin as bitcoin is already a currency.  It is already a currency upon its launch you can just look at the whitepaper and see it for yourself.

Bitcoin's potential is a subject of ongoing debate. Supporters and advocates of Bitcoin highlight several factors that contribute to its potential:

Decentralization: Bitcoin operates on a decentralized network, meaning it is not controlled by any single entity, government, or central authority. This characteristic is attractive to those who value financial sovereignty and want to avoid traditional financial systems.
Limited supply: Bitcoin's supply is capped at 21 million coins, making it a deflationary asset. This scarcity could potentially drive up its value over time, especially if demand continues to increase.
Store of value: Some proponents view Bitcoin as a digital alternative to gold, asserting that it can serve as a store of value and a hedge against inflation.
Borderless transactions: Bitcoin enables peer-to-peer transactions across the globe without the need for intermediaries like banks, which can be beneficial for international money transfers and remittances.
However, it's important to consider potential challenges and risks associated with Bitcoin:

Volatility: Bitcoin's price has been highly volatile, experiencing significant fluctuations in short periods. This volatility can be a deterrent for risk-averse investors and can affect its adoption as a mainstream currency.
Regulatory uncertainty: Governments and regulators around the world have varying stances on cryptocurrencies, leading to regulatory challenges and potential impacts on Bitcoin's use and acceptance.
Scalability: Bitcoin's current infrastructure faces scalability issues, limiting the number of transactions it can process per second. Efforts are underway to address this through technical improvements like the Lightning Network.
Environmental concerns: Bitcoin mining, the process by which new coins are created and transactions are verified, can consume substantial amounts of energy. This has raised concerns about its environmental impact.
Ultimately, whether Bitcoin has potential or not depends on various factors, including technological advancements, regulatory developments, and broader market trends. As with any investment or emerging technology, it's crucial to conduct thorough research and consider the risks before making any decisions. If you're considering investing in Bitcoin, it's essential to be well-informed and only invest what you can afford to lose.

correct and that is what my point and what I observed for long time now , people try to make it a competition but the truth is>? there are no existing  competition instead both has their way on helping people to transact .
I am a crypto believer and investor and indeed that I have proven that for long time now , but I must admit that i also trust fiat in mydaily living because it is harder to produce income in crypto in daily basis.

converting to fiat is what we can do for now , since the acceptance is limited but that does not mean that we will be selling it forever.
in the future when groceries and gas stations starts to accept it , there is no reason to sell but to use it as payment.

In this I could not agree because Bitcoin can never reduce the poverty but to reduce the poverty one must have a job. However, technically Bitcoin has not created jobs even though it has gained huge popularity at present. The only source of earning from Bitcoin is investing and trading that a person can do to earn it. This investment can only be done by any class of person if he has experience, and money so there is no barrier to say poor people if they have money they can also earn from Bitcoin.

yes, it's true that using fiat money is of course easier, and will be accepted by all people, but I think investing in btc is something fun because we can benefit from our investment, because if we have a lot of profit from the results of our investment in btc of course we will have a lot of money, so we need btc and fiat currency.

The primary issue lies in the fact that financially disadvantaged individuals lack the necessary funds for such investments. The foremost step for those facing financial hardships is to engage in gainful employment and acquire the initial capital needed to meet their daily needs.

Investments can be pursued when one's financial situation starts to stabilize. This precaution is essential to ensure that the investments made do not disrupt one's livelihood, as the ultimate aspiration is for investments to augment an individual's financial strength.

Bitcoin has been created for future financial, which government no want it to stand, but can't stop Bitcoin sailing in these digital worlds, and the world is connecting seriously through internet and that is the only way you can have access to Bitcoin. Having said that, Bitcoin is created to change many people life as long you believe in cryptocurrency Bitcoin precisely.

I think what you mean is Bitcoin users will benefit in terms of transactions because they don't incur a lot of costs if they do it in Bitcoin. Because if someone does it with fiat surely they have to pay for third parties and also the taxes they will pay on remittances. Maybe that is the point that I digest from your words against bitcoin will reduce poverty.

So in my opinion bitcoin has greater potential to advance a country as El Salvador has done because they were the first country to use Bitcoin as the first currency and as a statistic for their progress for now of course they are able to develop better than income sector from tourism where this will have a big impact on making its citizens reduce poverty.

Honestly, El Salvador hasn't seen any significant changes so far since they accepted bitcoin as a legal tender. As with some news I read, people there are not very interested in bitcoin and still prefer to use fiat over bitcoin in their country.

Quite frankly, I don't see bitcoin having any positive impact on a country's economy, bitcoin is being considered an investment asset because of its high volatility. It does not create more jobs and is not applied to industries to develop breakthroughs that bring higher productivity. How can it be said that it is benefiting El Salvador or any other country?

Profit comes from bitcoin if you are trading it and have bought at low and sold at high. You would not be getting profits if you are just sitting on the coins. What you can aspire to do is to increase your bitcoin stash at every drop and accumulate bitcoin at low prices so that when the world starts accepting bitcoin as a legal tender (long shot, but why not?) you will have the advantage over no-coiners because of price difference.

We may not see the above happening within the next few years, but at least our next generations will and we can hand over our earnings for them to reach goals which we could not.

Buying low, selling high is taking profit but you will not have actual profit if you don't cash out, withdraw it from your exchange account. Your cryptocurrency or cash is only yours if you withdraw it from cryptocurrency exchanges (centralized) or from banks.

If you don't withdraw, the profit you see is only a number in your account, on screen, which can become nothing if that centralized exchange, that bank close their service, freeze or terminate your account with their own reasons, they become bankrupted ...

If you can do DCA Dollar Cost Averaging, after a long time for DCA, you will accumulate good amount of bitcoin and will be able to gain good profit by DCA and holding your bitcoin through like 2 market cycles. One market cycle is known as lasting about 4 years.

I think that there is very low adoption level at the moment. People (even those who have btc) trust btc less than fiat currencies, since they can't buy anything without converting crypto to fiat. And if it was possible to buy everything directly with crypto, then there could be legal issues, which would discourage people from using crypto. One of such problems is legal status of crypto transactions. There are no legal approvals of crypto deals... If its a payment for a cup of coffee, then ok, but if is a purchase of a house, then it is not a good idea to pay money and settle in a house, which is oficially "not purchased"... And if it was fully legal, then crypto would be nothing different than usual fiat money....