Can Bitcoin End World Poverty?

[Heyyyrenz]

Bitcoin is a cryptocurrency in other word a money in the internet world, it's not connected into poverty eventhough you're in poor country and have a lot of bitcoins you cannot end poverty with just having a lot of bitcoin. Bitcoin has no magic that if you have it in your country the poverty will be gone. Maybe if it's a oil maybe if you have a lot of oil in your country poverty will be gone.

[Bagaji]

Well to some extent the advent of Bitcoin or crypto currency should be able to reduce poverty to some reasonable level, most especially the unemployed in the societies that could have access to internet should be able to make a living from bitcoin.

[qwertyup23]

Remember OP that bitcoin is an alternate cryptocurrency which can be accessed through the use of the internet. While it has the potential to at least alleviate poverty, it cannot fully end poverty since not all people from the marginalized sector have access of the internet. Also, the most basic way of earning btc is through joining campaign signatures, which requires someone who has knowledge and who is literate enough to make constructive posts. But if they have the determination and drive to engage with it, then the quest to end poverty starts there.

[Lieldoryn]

Bitcoin is a cryptocurrency in other word a money in the internet world, it's not connected into poverty eventhough you're in poor country and have a lot of bitcoins you cannot end poverty with just having a lot of bitcoin. Bitcoin has no magic that if you have it in your country the poverty will be gone. Maybe if it's a oil maybe if you have a lot of oil in your country poverty will be gone.

Big mistake to think so. Look at the situation in Venezuela. There's a lot of oil, but it does not help the people of this country to overcome poverty. There now there are even food riots. Bitcoin in the future could give the opportunity to earn money in another country where the income level is higher and it will really allow you to overcome poverty.

[xFiber]

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.

I use bitcoin for the same purpose right now. But I don't think bitcoin will only ever be an investment asset. There are already stores and start-ups accepting bitcoin for services or goods so in that sense bitcoin isn't only an investment asset. But for you and me it probably is. However I'm confident that the issues you mentioned will be solved sooner or later.

[freeyourmind]

Bitcoin is a cryptocurrency in other word a money in the internet world, it's not connected into poverty eventhough you're in poor country and have a lot of bitcoins you cannot end poverty with just having a lot of bitcoin. Bitcoin has no magic that if you have it in your country the poverty will be gone. Maybe if it's a oil maybe if you have a lot of oil in your country poverty will be gone.

Big mistake to think so. Look at the situation in Venezuela. There's a lot of oil, but it does not help the people of this country to overcome poverty. There now there are even food riots. Bitcoin in the future could give the opportunity to earn money in another country where the income level is higher and it will really allow you to overcome poverty.

Also the wealth that comes from selling oil usually doesn't spread to the people.  It stays with the elite and if anything may make poverty even worse for the common man.  Oil doesn't come without corruption and special interests.

[Novun]

I don't believe world poverty can be ended until we abandon the capitalist mindset. The whole point of capitalism is that there are poor people. Bitcoin is just a value distribution system. It is a good system but still follows the capitalist mindset. If you want to end world poverty you need to adopt some sort of forced socialist system where wealth is redistributed to an extreme degree.

[bouren]

I don't believe world poverty can be ended until we abandon the capitalist mindset. The whole point of capitalism is that there are poor people. Bitcoin is just a value distribution system. It is a good system but still follows the capitalist mindset. If you want to end world poverty you need to adopt some sort of forced socialist system where wealth is redistributed to an extreme degree.

Yeah, everyone need to understand that bitcoin is nothing but value carrying tokens. These tokens worth over $2500 now and almost out of reach of poors. I don't understand how people claim bitcoin to be poverty eradicator when it is internet money and internet is still out of poors reach.

[xFiber]

I don't believe world poverty can be ended until we abandon the capitalist mindset. The whole point of capitalism is that there are poor people. Bitcoin is just a value distribution system. It is a good system but still follows the capitalist mindset. If you want to end world poverty you need to adopt some sort of forced socialist system where wealth is redistributed to an extreme degree.

Yeah, everyone need to understand that bitcoin is nothing but value carrying tokens. These tokens worth over $2500 now and almost out of reach of poors. I don't understand how people claim bitcoin to be poverty eradicator when it is internet money and internet is still out of poors reach.

Yea I don't see how this would end world poverty either. But if you're poor and you were able to snatch up some bitcoin when it was a t 100$ a piece I get how it could be life changing but the poor need to make the investment first I guess. Bitcoin doesn't care wheter you're rich or poor.

[sedrick]

I will never accept that bitcoin can end poverty in the world. There are millions of people in this world and may be 50% of them will know about bitcoin. Then how can it end poverty. Also the government has to legalise bitcoin so that every individual will know about bitcoin and it value. Will the government legalise bitcoin is the big question... 

[izanagi narukami]

... Also the government has to legalise bitcoin so that every individual will know about bitcoin and it value. Will the government legalise bitcoin is the big question... 

My goverment still not legalize bitcoin because bitcoin can be use for terorism activity
And bitcoin is unique currency yet investation so I think bitcoin difficult to end since more people getting interest on bitcoin as you can see bitcoin value increase from year to year

[freeyourmind]

I don't believe world poverty can be ended until we abandon the capitalist mindset. The whole point of capitalism is that there are poor people. Bitcoin is just a value distribution system. It is a good system but still follows the capitalist mindset. If you want to end world poverty you need to adopt some sort of forced socialist system where wealth is redistributed to an extreme degree.

I agree with that.  A socialist system with access to basic needs (food, water, shelter).  But the system is managed by the elite, who desire to keep and grow their extreme wealth while other people starve.

[Mometaskers]

I read it and it sounds nice but it won't immediately lift a country out of poverty. First of all, infrastructures for internet have to be built up, unlikely in war-torn and starving countries. The "ownership" thing sounds nice but since they don't really earn anything to begin with, that won't help much.

IMHO the first thing bitcoin can help economies with is if it'll allow capital to flow in, like how BPOs are doing good for India and the Philippines. Less overhead cost for the business because of reduced fees.

I don't believe world poverty can be ended until we abandon the capitalist mindset. The whole point of capitalism is that there are poor people. Bitcoin is just a value distribution system. It is a good system but still follows the capitalist mindset. If you want to end world poverty you need to adopt some sort of forced socialist system where wealth is redistributed to an extreme degree.

I agree with that.  A socialist system with access to basic needs (food, water, shelter).  But the system is managed by the elite, who desire to keep and grow their extreme wealth while other people starve.

The way things are working out, it seems countries that are openly socialist are making everyone (except the elite) equally miserable. But at least they got equality, right? And no, the Nordic countries don't count. You tell them they're socialist and they deny it.

[tabas]

I think it can end up poverty especially for those people who are living in third world countries and the way of living isn't that elegant. Bitcoin is helpful for those people that has a very low cost of living as they don't need to have bigger amount for themselves but they can use possible income from bitcoin from construction of their homes.

[Jewell]

I don't believe world poverty can be ended until we abandon the capitalist mindset. The whole point of capitalism is that there are poor people. Bitcoin is just a value distribution system. It is a good system but still follows the capitalist mindset. If you want to end world poverty you need to adopt some sort of forced socialist system where wealth is redistributed to an extreme degree.

I think it cannot end the world poverty but can help in decreasing it. and that is what bitcoin is already doing that. because it is providing opportunities that if they have the ability they can earn a good amount of bitcoin, they need a little investment and some experience in trading and with regular study habits and they have good opportunity to make money from bitcoin and can even get more money that they cannot even expect from bitcoin.

[CarnagexD]

I think not. Even though bitcoin can give you income in terms of cryptocurrency that changes its price value from time to time, bitcoinncannot sustain such a great amount that could end up the crisis the whole worldia facing right now which is the poverty. Also, not all people knows what bitcoin is and doesn't use bitcoin after all. So we cannot evenly say that with the use of bitcoin, a certain phenomenon in the society can end up.

[Maceron]

No, I do not think so, for the simple reason that giving 10 000$ and 10 000$ worth of bitcoins is the same. Except we have a big philantropist, nothing will change.

[pixie85]

No, I do not think so, for the simple reason that giving 10 000$ and 10 000$ worth of bitcoins is the same. Except we have a big philantropist, nothing will change.

You're right but we don't even have to go this deep. Giving money to the poor doesn't change anything and it doesn't matter if it's cash or Bitcoin.
It's like throwing money into a bottomless pit. Many have tried and failed miserably. You could give a million dollars to an African village and 10 years later they'd still be living in their huts and tending fields, because that's all they know.

[Janation]

No, I do not think so, for the simple reason that giving 10 000$ and 10 000$ worth of bitcoins is the same. Except we have a big philantropist, nothing will change.

I don't know how can bitcoin can end the World Poverty. Yes normal people use and earn bitcoin with out any investments, but that doesn't mean that everyone can do it and earn their own money. Even if it can, there are countries who can't access the internet well so they can't use bitcoin, that means it can't. Bitcoin is just a digital currency, it can't end world poverty it will just be used by people as a currency or an asset to trade and have a profit.

[BitMaxz]

I don't believe world poverty can be ended until we abandon the capitalist mindset. The whole point of capitalism is that there are poor people. Bitcoin is just a value distribution system. It is a good system but still follows the capitalist mindset. If you want to end world poverty you need to adopt some sort of forced socialist system where wealth is redistributed to an extreme degree.

I think it cannot end the world poverty but can help in decreasing it. and that is what bitcoin is already doing that. because it is providing opportunities that if they have the ability they can earn a good amount of bitcoin, they need a little investment and some experience in trading and with regular study habits and they have good opportunity to make money from bitcoin and can even get more money that they cannot even expect from bitcoin.

I think bitcoin can help only few people not peoeple can get benefits of bitcoin and i think poverty never end because its a old issue before and until now its still active. bitcoin can help few things but not bitcoin are made only to end poverty.and as we can heard we are still few bitcoin users who use bitcoin for daily life..