Can Bitcoin End World Poverty?

[RastMan]

Not on the contrary, I think the bitcoin can make it worse because let's assume that its price explodes and reaches $ 100,000 within 20 years. There will be a colossal money supply in circulation, it will cause a crisis or at least a BIG inflation.

The bitcoin in my opinion can only harm the poor except if they invest in it and they are actors.

[NoNetwork]

I believe that it can remove the poverty of the world if the people are educated and will know to use he technology of bitcoin which is not a problem and hard for anyone. They if start to use bitcoin then they will earn a bigger amount of money from their home and will start their own businesses.

It's not just about knowledge. there are a millions of people who can't even afford a clean water and eat three time a day. you really think they can afford a cheap gadget or even

rent a computer?. Lets face it, bitcoin is not accessible to everyone. To help reduce the global poverty someone should lend a hand and bring the horse to the water not just

bringing the water to the horse. i believe that the government is the one who can do this.

When talking about poverty, everyone seems to be looking forward for the government's action. In actuality, our future belongs to us and depends on us. The government is just there to keep the rules and regulation going on. If you live in a country where resources has a shortage, then that's just how it is. Bitcoin isn't relevant at all. After all, people don't have a choice about their ethnicity and their location of house.

Like me, even if I would want to live in USA just because the culture there and the life there is much easier, that's not going to happen unless I excel by myself. So, with the people that can't afford gadgets, they would have to improve themselves before they can get help from bitcoin. Save up enough money to buy a smartphone and then learn how to do bitcoins. But then again, with the small pay rate and lack of resources, this seem to be very implausible.

Nonetheless, we can't just whine and blame the government for these things happening to us. Remember that the government is just a group of people and if your country is poor from the start, lacks resources, lacks competent people, then the government can't do anything about it. In short, what's fucked up ever since will continue to be fucked up unless they get help from other major countries. But then again, major countries won't just lend a hand since they aren't going to have any resource in return.

[Sadlife]

It may be possible if bitcoin becomes legalized in that country who has a lot of poor people and the transaction fees may be an hindrance for them because if they want to buy coffee for only $2-5 they would have to $0.15 or 0.85 just to make the transaction faster and to buy coffee. They would have to convert their bitcoins first into their fiat currency to be able to buy goods and neccessities and would decrease of price in bitcoin depending on the volume of people converting it.  The only work around this problem is first thst coutry needs to legalize bitcoin and second resolved the bitcoin scaling issue.

[jennywhzz]

I believe that it can remove the poverty of the world if the people are educated and will know to use he technology of bitcoin which is not a problem and hard for anyone. They if start to use bitcoin then they will earn a bigger amount of money from their home and will start their own businesses.

It's not just about knowledge. there are a millions of people who can't even afford a clean water and eat three time a day. you really think they can afford a cheap gadget or even

rent a computer?. Lets face it, bitcoin is not accessible to everyone. To help reduce the global poverty someone should lend a hand and bring the horse to the water not just

bringing the water to the horse. i believe that the government is the one who can do this.

Money is less linked to poverty than people know.  There is no "currency only" solution to poverty.  Every society yells for different solutions and they do not work.   You need solid industry and planing in order to reduce poverty.

[attentionSicker]

No!
Talk about digital divide. Not everyone are computer literate, especially those in the state of poverty. Places that suffer from poverty only think about their daily survival(MEAL) that's why they don't even have a simple thought about bitcoin. They are focused on easy and short term satisfaction and not on the long term one such as bitcoin.

[sunsilk]

I guess there's no way to end the world's poverty but I have a confidence that bitcoin can help an individual out of poverty.

There's a lot of people who suffers poverty and yet they can't get out of it until they grow up.

The world is broad and we are too many for it, bitcoin as a currency and investment. There's a lot of things to be done first instead of thinking world's poverty.

[attentionSicker]

I believe that it can remove the poverty of the world if the people are educated and will know to use he technology of bitcoin which is not a problem and hard for anyone. They if start to use bitcoin then they will earn a bigger amount of money from their home and will start their own businesses.

It's not just about knowledge. there are a millions of people who can't even afford a clean water and eat three time a day. you really think they can afford a cheap gadget or even

rent a computer?. Lets face it, bitcoin is not accessible to everyone. To help reduce the global poverty someone should lend a hand and bring the horse to the water not just

bringing the water to the horse. i believe that the government is the one who can do this.

I agree with you, there are lots of things to consider in order to stop poverty. How can we gain knowledge if our stomach is empty?
That's why poor families prioritized their foods for survival rather than their opportunity to study.

[Sled]

I believe that it can remove the poverty of the world if the people are educated and will know to use he technology of bitcoin which is not a problem and hard for anyone. They if start to use bitcoin then they will earn a bigger amount of money from their home and will start their own businesses.

It's not just about knowledge. there are a millions of people who can't even afford a clean water and eat three time a day. you really think they can afford a cheap gadget or even

rent a computer?. Lets face it, bitcoin is not accessible to everyone. To help reduce the global poverty someone should lend a hand and bring the horse to the water not just

bringing the water to the horse. i believe that the government is the one who can do this.

I agree with you, there are lots of things to consider in order to stop poverty. How can we gain knowledge if our stomach is empty?
That's why poor families prioritized their foods for survival rather than their opportunity to study.

It is not a excuse because if all the people will keep saying that then there will be no people in the world that will become rich from being a poor person because they will always prioritized foods or necessities rather than trying other new things but if you want to be rich then you will sacrifice something in exchange of getting more worth it than what you currently have.

[v0rtecxz]

In my opinion, bitcoin will not be able to end world poverty, how can bitcoin that only generate virtual money can end world poverty, while poor people find it difficult to get facilities such as internet, health and other facilities, if you want to end poverty I Think the only way Is working hard to earn money that can change a person for the better, and to eliminate world poverty is impossible because the world is vast and human nature is different, and their way of life is different

[joymalieza]

It actually depends on the person if they would be willing to accept bitcoin. Many are still in doubt about it. Many thinks it's taking risks.
Now the bitcoin is becoming popular globally and more and more people are into it then I believe that in the next 20 years people from all over the world would accept bitcoin.  Then poverty could eventually be eradicated.

[thelever]

I not sure, and i hope bitcoin make it happen.

Probably, in future bitcoin have authority for organize world

[JohnBitCo]

Free money is worth nothing because everyone got some.  If you print money and give it to the poor, then each dollar is worth less and the prices increase until those dollars are useless. 

[Sweetbtc]

Free money is worth nothing because everyone got some.  If you print money and give it to the poor, then each dollar is worth less and the prices increase until those dollars are useless. 

If you print more money, or create crypto and hand it out evenly to everyone, the currency loses value in the world market. There a lot of factors for reducing poverty and not just Bitcoin or USD itself.

[itsallpc]

Bitcoin cannot end world poverty.First reason is that its supply is only limited to 21 million and so its highly impossible for every one to have bitcoin.Also,already some big whales possess more volume of bitcoins with them.Secondly,bitcoin is created only for making people free from banks.It was not created as an investment.It was people who started to hold it as an investment.

[Harlot]

I don't think so bro, lets look at an economical perspective. Let us assume that all of us living in the earth is trying to find a source or way to earn Bitcoin one for free don't you think our share will become less and less to accommodate their participation? That is right, its like nothing happened in the first place. Just like when the minimum wage increase we really don't have an increase in buying power because businesses will adjust accordingly that is how the cycle goes no one wins when a big player comes.

[DrGuns4Hands]

no it cannot stop poverty you know why ? we user of bitcoin hardly to earned bitcoin and we all know that bitcoin isn't free you need a hardwork and dedication in order to have bitcoins or simply you can buy it so it can't end the world poverty. We all know that and not all rich people can donate their money because we are all just greedy.

[amaral1977]

I believe the guy in the interview used bitcoin meaning "blockchain technology". It will only have that ability to reduce or end poverty if it was really decentralized. BTC is not "that" decentralized anymore. But blockchain tecchnology is so maybe bitcoin 2.0 achieves it.

[joganuts]

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.

There is such good aspect of bitcoin that we can relate on a unusual thing that fiat cannot do. Its transaction brought by the development of technology can make everyday transaction fast and reliable with ease. But poverty is just to brood for bitcoin to evade or to end it might need more help and support on the government not just on bitcoin itself, bitcoin could be an instrument on making ones nation economy to developed but not totally to stop poverty itself. It can also bring hope and new thing for the poor to try on and be a productive person by learning its system.

[Bee Leb07]

bitcoin is just money, and like any other moneyz it can not do magical things on its ow. people can use it as a tool to make more moneyz an make themselves richer by increasing their net worth but to expect bitcoin to end world's poverty is just absurd in my opinion!

You are true, it cannot end the world's poverty. But i think it can bring some good to the world. It cannot end the total poverty. But if it is considered as a legal currency, then it could be possible to end the poverty in a very small amount. Full poverty cannot be removed. But, as bitcoin is growing its popularity day by day, then i think it will be able to do a tremendous change in world's economy as well as social development in future.

Hope for the best.

[radjie]

So far there are still many people who do not know the existence of bitcoin so from that I can say bitcoin is not completely able to end poverty because bitcoin until now can not be inaugurated by the government so that poor people who do not understand with bitcoin they can not feel the result of bitcoin income even way Using it and looking for it they do not know anything.