Can Bitcoin End World Poverty?

[UCHCHILD]

I guess not, bitcoin is not solution for poverty all over the world. Maybe it can help in terms of financial problem but in some aspect of poverty it is not. And having bitcoin cannot cover all your needs because people are not contented.
Bitcoin can never stop the wars in some other countries so how can bitcoin end the world poverty. Things are not that easy in terms of poverty it cannot solve of money or bitcoin alone.

[youngagethinker]

Hmmm. There's no easy money and so they say bitcoins is just a tool that can be use to buy goods and unless you are not working hard enough like what they are doing to get fiat, then you won't earn. Don't depend the end of poverty to anything or anyone, it always start with yourself.

[franky1]

imagine if bitcoin was not measured against the dollar
imagine if the tx fee was not 'acceptable' to only just the western world

then bitcoin could be revolutionary.
but as it stands today, bitcoin has lost all of its ethics and morals and has been changed into a "just pay more" currency due to developers in america who are funded by corporate america.


anyway how to solve poverty.
the only real economic system that can end world poverty would be:
instead of money creation occurring due to people signing a mortgage/credit agreement when buying a house. and strangely those people having to repay that freshly created money back to banks plus interest..

each birth creates the new money. which is enough for the most minimal living cost (not lifestyle... just pure survival costs) EG the most basic of unfurnished shelter, the basic food rations and healthcare.

this then takes away th big burdens of taxes away from average people.

then people know that they can always survive, and then work for wages/income to improve their living standards

[d5000]

The article is describing two mechanisms:
- one is the possibility to "track property" on blockchains for people that do not have any "legal" private property. That could work for very small-scale enterprises typical of third world slums when they are doing business with other similar enterprises, but in the moment the business wants to grow out of this niche market it will have to deal with the State and its "formal" system of property.
- the second is that a global currency like Bitcoin enables third-world businesses to compete with businesses all over the world. This, in my opinion, is a bit more promising. We know that platforms like "Rent a Coder" were able to get many Indian programmers out of poverty. Bitcoin is not needed 100% for this effect but it can make things easier, above all in countries with very bad access to international payment processors.

[iron talon]

Hmmm. There's no easy money and so they say bitcoins is just a tool that can be use to buy goods and unless you are not working hard enough like what they are doing to get fiat, then you won't earn. Don't depend the end of poverty to anything or anyone, it always start with yourself.

It can't end and finish poverty because only rich people have Access to bitcoin and other coins. This makes poverty stay right there.

[BitMaxz]

Who is the singer actually inside the article?
Honestly i am still in poor life where my family lives in poverty. Bitcoin is only help for financial due to some online business like mining and trading or other online activity.
As one of the people who lives in poverty bitcoins really help but no a lot..

In my opinion world poverty and bitcoin are in no way related.  The technology itself can help people without access to banks...so in that aspect, it can help bring financial structure to certain areas in third world countries, but ending poverty itself..there is no way that is possible unless there were bitcoins magically allocated to each human being in the world.

Even if that were the case, bitcoin as a currency would be devalued as it's price is driven by demand. 

You have a point since bitcoin is always changes its value and bitcoin is not stable anytime it can be crash that can affected all bitcoin users..

I guess not, bitcoin is not solution for poverty all over the world. Maybe it can help in terms of financial problem but in some aspect of poverty it is not. And having bitcoin cannot cover all your needs because people are not contented.
Bitcoin can never stop the wars in some other countries so how can bitcoin end the world poverty. Things are not that easy in terms of poverty it cannot solve of money or bitcoin alone.

Well bitcoin is not made only to end poverty bitcoin are just made for payment system. But you have a point that bitcoin is not a solution to end poverty..

[xuan87]

I don't think it can end poverty because bitcoin only can help the one that own internet and mobile phone or computer, it sure can prevent more poverty and giving more job opportunities but to end poverty it's not that simple and we still don't know what is the future of bitcoin so I don't dare to say that bitcoin could end poverty

[Lieldoryn]

Now bitcoin cannot defeat poverty, but in the future I do not exclude this possibility. The Internet allows people from poor countries to perform work for the rich countries and thus have a higher income than in their country. Just yet too few sentences.

[bitcoinbox]

I think people are putting too much expectations in Bitcoin.
Unfortunately, it is not going to solve all the problems around the world, neither tyhe poverty.

[Blackwhite69]

I can't guarantee because bitcoin is just a virtual coin that is not understood by everyone so what everyone understand what bitcoin is? does everyone have good technology in all countries?

[malikusama]

I don't agree, it is unreal bitcoin is just a currency how can it end world poverty? doesn't make sense. However it is an opportunity for jobless people that they can earn through bitcoin using variety of ways.

[Babayega31]

I think people are putting too much expectations in Bitcoin.
Unfortunately, it is not going to solve all the problems around the world, neither tyhe poverty.

Your right since how could bitcoin reached for those uneducated persons and doesn't have wifi access countries? Hard to think they? But we can actually say that it could end the poverty for those people who knows it since bitcoins earning are pretty much big rather than our physical job but the thing we need to do here is to maximize it and do wise spending so that we can really out on the picture of poverty issue here.

[CoinHeavy]

Distribution remains an oft-overlooked consideration with Bitcoin.  Large swaths of currency are held in high concentration by few actors.
Absolute poverty may be alleviated by some global cryptocurrency adoption ( direct access to all markets, fewer middlemen, etc. ).  Consider, for example, what MPESA has achieved in Africa.  Relative poverty, however, may even be exacerbated by cryptocurrency.

[Shutup]

Yes bitcoin can end world poverty.To the unemployed people bitcoin can produce income.To those people who wants to grab this opportunity to have income.You have to obey the rules and always try to do the work in order so that promotions will come to you.When bitcoin works in this world to end poverty this will be the powerful currency to the whole world.

[NoNetwork]

For me i think so.. 


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

READ MORE:

I think you can end up poverty with bitcoin, it can be earned easily by anybody as long as you have skills and some money to invest. Someone who is willing to take risks is someone that may be successful in the future, so they must take on risks. But I don't think that it will be a good source of stable income, maybe just for extra.

[Lomberjack]

I can't see that bitcoin can really end world poverty. First, not all country in the world have already legalize bitcoin only some do, and those countries if you will observe are mostly western countries that are already known for having a great economy. Also if bitcoin can end up world poverty, why does many countries continuously suffer this matter? In the first place, bitcoin have already existed years ago and until now, it doesn't end up world poverty.

[hardtime]

No chance, I'm one of the people that is very realistic when it comes to Bitcoin usage in the world. Let's think about this for a second, people in First World / Developed Nations are having issues adopting to Bitcoin and using it. Do you really think it's going to gain traction in areas which are developing and don't even have / are just getting access to the fruits of Civilization such as internet, electricity, water, and so on and so forth. These are also the places that usually have the worst time when it comes to Gov Corruption, so Bitcoin isn't going to be allowed to spread in these areas. Maybe with some innovation with BTC it may help to get people in on the Global economy, though it's really going to take some time for all of this to work out.

[Drnice]

When you say world poverty, it looks very large. What about countries which will or might not accept Bitcoin as a currency into their market system?

But I believe Bitcoin can stop people's poverty and a total eradication to poverty.

[freeyourmind]

I think people are putting too much expectations in Bitcoin.
Unfortunately, it is not going to solve all the problems around the world, neither tyhe poverty.

Agreed.  We already have enough basic resources for the entire world (food and water).  The way we allocate resources in this system, gives a lot of resources to a small % of the population.  Bitcoin isn't changing that system.

[dillpicklechips]

Bitcoin is not a magic wand which will end world poverty. It simply doesn't have the power to end such a massive thing. Also bitcoin is not a payment system anymore. We have moved to a different goal long back, when the confirmation time increased and transaction fees hiked. These confirmation time and transaction fees is going to be increased again and again. So we will move from the initial goal further.

Bitcoin has now purely became an investment asset. IT can provide a huge return which any other conventional investment will never be able to offer ever. So I take bitcoin purely as an investment and a trading asset. I earn profit  and keep it for the future.

Transaction fees pretty much ruined what Bitcoin is and also the confirmation time which it should be fast and cheap transactions. Could it revert as to what it was?

Aside from those, if poor people you are saying, really poor people then I don't think it will help them especially those who are not technologically literate and some who have no literacy. Also considering the financial standing, if they can affor to buy a android phone, computer, or anything used to connect to the internet and browse then they can join in but if not then unfortunately they can't. And the internet fee or they can just go and connect to free wifi spots.

Let's face the reality. Bitcoin has its requirements set and you need to have those in order you can access it and profit from it.