Can Bitcoin Really End World Poverty?

[Paopao]

I think It puts all centralized economic systems upside down, where people like you and me have power. And crypto efficiency about all health is only related to people's minds. Someone picks cryptokitties / cryptotanks, smart contracts for a fair deal. The choice is everything.

[yonjitsu]

It can end world poverty only if it will be adopted by all nations in the world. A society with a low class economy with majority of its constituents are unemployed could somehow be minimized by its numbers if they will engaged in bitcoin and cryptocurrency.

[rxthree]

I think it definitely can. The low transaction fees plus no middle man is a big plus for third world countries. The simplicity of being able to send money to your family compared to mailing money or going through banks with high fees puts Bitcoin at an advantage over traditional means.

[canque31]

I think it definitely can. The low transaction fees plus no middle man is a big plus for third world countries. The simplicity of being able to send money to your family compared to mailing money or going through banks with high fees puts Bitcoin at an advantage over traditional means.

Poverty already exists in the world and it is really difficult to end world poverty but we can reduced world poverty. Only those willing to embrace and open up their minds about Bitcoin will be saved from poverty. And especially those who are persevere to will succeed.

[Mike0222]

bitcoin for me can end poverty.. maybe in the future some subscribers  will learn how to use it as a source of income.. they can invest on it if they have the time. not just waiting for something they should also try to participate and react properly in order for them to earn extra income they need effort and lots of reading in order for them to answer some questions.. in can end poverty in some remote area specially if there is a internet connection..

[Ian Dave]

I believe that bitcoin can really end world poverty if all humans will enter into this kind of job. They need knowledge and willingness to work here and to learn. We cannot stop that, but we can lessen the number of people that experience poverty.

[indog]

it could happen, as long as the government of a country that applies this bitcoin well to its people and provides the benefits of this bitcoin and always monitor the development of bitcoin in the society, if all that is realized, then the existing poverty will be resolved, although it takes time a bit old.

[MiF]

it could happen, as long as the government of a country that applies this bitcoin well to its people and provides the benefits of this bitcoin and always monitor the development of bitcoin in the society, if all that is realized, then the existing poverty will be resolved, although it takes time a bit old.

Bitcoin is an instrument that can give a huge profit in a verry simple way, and if we are going to believe that It can give as a huge profit and we take serious action of gaining through it maybe it can really end the world poverty, However everything is really depnd on us and not in a bitcoin because even if the bitcoin is there and the people really didn't believe or maybe trust it maybe bitcoin is no use at all.

[WannaCry]

Can bitcoin really do anything to solve world poverty problem? Brian Singer certainly think so. He thinks that Bitcoin can bring minimum everyday earning for people more swiftly than any other economy system.

Is it possible?

http://www.forbes.com/sites/steveforbes/2015/04/02/how-bitcoin-will-end-world-poverty/

It might change the lives of those who knows how to access and have enough knowledge about bitcoin. But it can't end world poverty because some countries doesn't have any access about bitcoin and some people doesn't have knowledge about computer. I believe it will just change the financial status of users individually. It is profitable but it has it's limit.

[abhishek_bittu]

It’s really hard to predict.

If you ask me the technology of the future, it's certainly Blockchain which is the same technology underlying Bitcoins.

The main problem currently associated with Bitcoin is its transaction capability per second.

For PayPal can process about 1600 transactions per second, bitcoin is restricted to just 6 transactions per second.

Now, some of the solutions that are possible are Seg2X where you increase the block size from current 1 MB to 2 MB.But that certainly requires complete hardware overhaul for miners.If it happens that Bitcoin accepts Seg2X, then it might be possible that not every miner migrates to the costly hardware needed for mining the new blocks.

So this will to the centralisation of Bitcoin which destroys the fundamental property of Bitcoin i.e. decentralized.

An alternative to this is the User-Activated Soft Fork wherein you drop the witness part of the each transaction so that more number of entries can be made to a single block.This certainly benefits the users of Bitcoin as it causes more unconfirmed transactions to be added to the block more frequently.This allows transactions to be processed immediately.

But the miner's contention is to drop the witness part and also increase the block size. So all those miners who can’t afford expensive hardware migration would disappear reducing the competition for big players.

The User Activated Hard fork that happened on 1st August lead to the creation of a new currency.The only reason being that mining Bitcoin Cash requires way more strong hardware than BTC which was basically in favor of big miners. The small miners preferred to mine the existing BTC.

So it certainly depends on how the technological advancements are adopted keeping intact the fundamental properties(decentralized) of Bitcoin.

Bitcoin can be used for various purposes. Mainly:

1. As a currency i.e. for day to day exchanges.

2.Investment purpose for long-term returns.

Moreover, the property of anonymity in Bitcoin is something that serves as a boon as well as a curse.

[Md.salauddin]

Honestly speaking i just say bitcoin wouldn't solve the world's poverty problem.BTC was developed for decentralized transactions cutting out the middlemen.Maybe it will not end world poverty immediately, but it definitely can give everyone a fair play ground, so many people have chance to get rid of poverty. With today's fiat money system, it is no way to get rid of the trend of increasing poverty, since it is by design

[ben-iyieke]

 People are so corrupt and flawed that they do not care about making this world a better place, they just care about themselves. That is why we will never have world without poverty, wars and terrorism. Bitcoin is nice tool but it is people who will be using it. The short and only answer is no, bitcoin will not help to solve world poverty problem. Why? Because economical systems, regulations and laws are not the problem here.

[BitNinja2017]

Bitcoin put in the right hands will allow the concentration of power in those who are worthy. Those who see the best in humanity and strives to turn the most corrupt, the most evil and the worst of mankind into people who care for fellow man and are willing to sacrifice to improve the lives of others.

Bitcoin is a restructuring of the global elite, and with that power, the new elite have a choice on whether to improve the world or make it even worse from how it is now.

[Goodday]

my opinion with the presence of bitcoin can certainly help the bottom of society and they are very helpful and certainly reduce the unemployment rate

[kmrunner]

It is possible if the mainstream media & publications  do not put fear in Bitcoin investors, If only banks will not make you fearful because they wanted your money in their banking system so they could price you with unnecessary fees.  It is possible because for every Bitcoin that a person invests, the value of it increases the chances of getting out from debts and financial hardships.

[illnino]

Can bitcoin really do anything to solve world poverty problem? Brian Singer certainly think so. He thinks that Bitcoin can bring minimum everyday earning for people more swiftly than any other economy system.
Is it possible?

http://www.forbes.com/sites/steveforbes/2015/04/02/how-bitcoin-will-end-world-poverty/

I heard about using bitcoin with the charity aims. But we must remember that Bitcoin and digital money first of all just a tool and it can be used for making the economy better more effective. This is the right way of cryptocurrencies doing.

[Tuyul Gupies]

bitcoin will not end poverty but bitcoin will reduce the poverty that exists in this world. now bitcoin has grown for everyone who wants to join her to break down poverty. bitcoin is just digital money that will be used until the future and now this digital eye has been used to transact. now many countries are receiving bitcoin to reduce poverty, and that is a good development to benefit.

[shamimal93]

If bitcoin is still alive, Its will have ability  to reduce poverty. But it's totally impossible to end poverty all over the world. I wish bitcoin will still alive and its can reduce poverty all over the world.

[kinzey]

Can bitcoin really do anything to solve world poverty problem? Brian Singer certainly think so. He thinks that Bitcoin can bring minimum everyday earning for people more swiftly than any other economy system.

Is it possible?

http://www.forbes.com/sites/steveforbes/2015/04/02/how-bitcoin-will-end-world-poverty/

I also agree to what hazir said. Greedy and corrupt people are the cause of poverty. Bitcoin can help provide new ways to earn income but not everybody have easy access to the internet or gadgets. And it  is not that easy when trading. So bitcoin is not the answer to helping rid of poverty

[domerosan10]

possibly if bitcoin is supported by the government in each country. Indeed bitcoin is still the stage of development, but if bitcoin is supported by the government it can be poverty in their country can be helped It is still my picture alone or in my opinion.