Can Bitcoin End World Poverty?

[betMaster]

There are a minority in the world that posess the majority of the wealths , they spend more money on nuclear weapons every year than the amount needed to eradicate world poverty . And yet famine, malnutrition and epedimical deseas still exist ! And we're not even talking here about illiteracy or internet access , not even electicity access .
So you still think that bitcoin can end world poverty ?

[NoNetwork]

There are a minority in the world that posess the majority of the wealths , they spend more money on nuclear weapons every year than the amount needed to eradicate world poverty . And yet famine, malnutrition and epedimical deseas still exist ! And we're not even talking here about illiteracy or internet access , not even electicity access .
So you still think that bitcoin can end world poverty ?

Exactly, there more more major things that affects world poverty, or I could say it is a matter of chain reaction to what the poverty looks right now. It was generated between these other major problems like what you've mentioned so far.

[MoneyIsDebt]

Of course, if used maximally and there are specific rules about bitcoin, bitcoin can reduce poverty, let's support the use of bitcoin globally for a better future.

The support from us is not a problem because we are already doing that but the main problem is, the support from the higher officials like the government, some of them doesn't support bitcoin because they see a decentralized system in bitcoin which they really hate but there are still some government that still accept bitcoin as a money and i hope that other countries will do the same.

I don't know what government in the world recognized the bitcoin official currency. Yes I heard that Japan has recognized bitcoin as a means of payment, but it is not the same as currency. The payment instrument must exchange the currency to use.

i heard this news somewhere that japan has recognize it as a official currency. if japan has do so than it is a great achievement of bitcoin and it will change the impact of bitcoin all over the world.

[hangar18]

Now it do not think so. Bitcoin needs Internet to work, and where people are really poor there is no electricity and do not talk even about Internet. So no, you better give them food rather than bitcoins ...

Haha if trader and member in this forum can use their profit earned from Bitcoin for charity helps poor people, we still can say "Bitcoin End World Poverty". But nobody want do that unless they have a huge money by lucky on market

[ankit10]

Now it do not think so. Bitcoin needs Internet to work, and where people are really poor there is no electricity and do not talk even about Internet. So no, you better give them food rather than bitcoins ...

Haha if trader and member in this forum can use their profit earned from Bitcoin for charity helps poor people, we still can say "Bitcoin End World Poverty". But nobody want do that unless they have a huge money by lucky on market

Still traders and "Precious" members of this forum can't remove poverty from any country or from whole world. About charity, some charities use money for themselves , they taking money and spent on their personal use.

[George Goognin]

I think, one of the key origins of poverty is financial inequality, created by banking system.

There's a lot of countries with zero mortgage interest rates and lots of money.
Wherein, there's a lot of countries with 3 billions of people living there, where interest rates on credits are as high as 30%.
And all traditional banks in such countries are working like pawnshops for SMEs: you need to have huge collateral just to begin talking to the bank manager.

Also, current financial system almost blocking intercontinental money transfer to dozens of countries. For example, Western Union takes up to 20% of payment if you're trying to send money from EU to Africa.

So, the money are locked up and money distribution is weird.

Thats why we've decided to launch cross-border p2p-interchange project, based on cryptocurrencies.
Hope, our social experiment will be successful enough

[George Goognin]

Now it do not think so. Bitcoin needs Internet to work, and where people are really poor there is no electricity and do not talk even about Internet. So no, you better give them food rather than bitcoins ...

Haha if trader and member in this forum can use their profit earned from Bitcoin for charity helps poor people, we still can say "Bitcoin End World Poverty". But nobody want do that unless they have a huge money by lucky on market

Still traders and "Precious" members of this forum can't remove poverty from any country or from whole world. About charity, some charities use money for themselves , they taking money and spent on their personal use.

Yes, there's a lot of nonprofits, taking money and spent on their personal use. And that's awful.
But, for example, there's a Kiva project, with clear financial reports (https://www.kiva.org/about/finances). And I hope there's lot more like them

[FROSTDD]

I think, one of the key origins of poverty is financial inequality, created by banking system.

There's a lot of countries with zero mortgage interest rates and lots of money.
Wherein, there's a lot of countries with 3 billions of people living there, where interest rates on credits are as high as 30%.
And all traditional banks in such countries are working like pawnshops for SMEs: you need to have huge collateral just to begin talking to the bank manager.

Also, current financial system almost blocking intercontinental money transfer to dozens of countries. For example, Western Union takes up to 20% of payment if you're trying to send money from EU to Africa.

So, the money are locked up and money distribution is weird.

Thats why we've decided to launch cross-border p2p-interchange project, based on cryptocurrencies.
Hope, our social experiment will be successful enough

You are talking about Africa, but how can you explain the complex blockchain project to an illiterate farmer from Zimbabwe?

[stergium]

yes i think it can, bitcoin is the most valuable coin in the internet industry,  so it can be the end of world poverty but the problem here is not all of the people know that there is a currency that called bitcoin. that's why it can't end poverty at all.

yes that is right that bitcoin is the most valuable online currency, i think still not a single currency can compete with bitcoin and if we compare bitcoin with some other online currencies we can see that bitcoin is becoming more and more popular  with the passage of time, its users are also increasing from time to time.

[George Goognin]

I think, one of the key origins of poverty is financial inequality, created by banking system.

There's a lot of countries with zero mortgage interest rates and lots of money.
Wherein, there's a lot of countries with 3 billions of people living there, where interest rates on credits are as high as 30%.
And all traditional banks in such countries are working like pawnshops for SMEs: you need to have huge collateral just to begin talking to the bank manager.

Also, current financial system almost blocking intercontinental money transfer to dozens of countries. For example, Western Union takes up to 20% of payment if you're trying to send money from EU to Africa.

So, the money are locked up and money distribution is weird.

Thats why we've decided to launch cross-border p2p-interchange project, based on cryptocurrencies.
Hope, our social experiment will be successful enough

You are talking about Africa, but how can you explain the complex blockchain project to an illiterate farmer from Zimbabwe?

I think they can count from 1 to 100
And if they understand how to save 10-15% from each payment, they'll have a great incentive to read more about BTC, lol.

[tanginamoo]

For me i think so.. 


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

READ MORE:

For me bitcoin can make someone rich and it can be a valuable source of income for people. Yet if people still didn't work hard and grab every opportunity given to them. It is impossible for bitcoin to end poverty.

Bitcoin + Hard work = Less poverty. This is the formula to stop the spreading of poverty to every nation.

[Cofee.BLUE]

For me i think so.. 


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

READ MORE:

For me, I do not think so. Yes bitcoin do really provide income online and its decentralized block chain make it apart from banks and government control but it does not imply that with this it can fully resolve rather end world poverty. Poverty can be describe as the "uncured" sickness of the economy that cannot be treated effectively but can lessen its direct effect on people and that was how bitcoin works. It only lessen the direct effect of bitcoin but cannot end the world poverty because bitcoin is not that powerful to cater the needs of all the people. Money is not just the key to end poverty. It is on the natural resources that is continuously getting destructed due to the irresponsibilities of humans that must be treaten to effectively end world poverty.

[Lecam]

For me i think so.. 


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

READ MORE:

I don't think bitcoin can solve poverty. Poverty is a national problem, it's way too big for bitcoin to handle. And, I don't see how bitcoin can even help poverty. It's true that a lot of opportunity to earn extra income is possible through bitcoin. But, not anyone is privileged enough to have bitcoin. And, not even everyone is willing to give away what they earned easily.

[freeyourmind]

I think, one of the key origins of poverty is financial inequality, created by banking system.

There's a lot of countries with zero mortgage interest rates and lots of money.
Wherein, there's a lot of countries with 3 billions of people living there, where interest rates on credits are as high as 30%.
And all traditional banks in such countries are working like pawnshops for SMEs: you need to have huge collateral just to begin talking to the bank manager.

Also, current financial system almost blocking intercontinental money transfer to dozens of countries. For example, Western Union takes up to 20% of payment if you're trying to send money from EU to Africa.

So, the money are locked up and money distribution is weird.

Thats why we've decided to launch cross-border p2p-interchange project, based on cryptocurrencies.
Hope, our social experiment will be successful enough

You are talking about Africa, but how can you explain the complex blockchain project to an illiterate farmer from Zimbabwe?

You don't really need to understand the intricacies of Bitcoin to be able to use it, the same way that you don't need to understand the way an engine in a car works in order to drive it.  From a user standpoint, you just need to understand that a transaction has a sender and a recipient.  At the moment I agree that it's mostly adopted by more tech savvy folks, but the user interface will get easier to use for people that aren't.

[VFabio]

Money is moving like in a poker game. The poor people's money is not away, it's just owned by somebody else

So the answer is as broad as the question itself. Potentially and theoretically yes, but for what does it not apply nowadays. I think it depends on what the people want. And also, poverty is caused by capitalism, not by our money system.

[mware]

Definitely not. More precisely, reducing poverty in the world because it is impossible to eliminate all poverty in the world. The cause of world poverty is very complicated. So how can poor people buy it if they do not have internet access. Bitcoin is only beneficial for some people.

[andrew24p]

i doubt it, in reality the rich will buy up bitcoin before the poor can and will own a large percentage of it. It can help them if they have enough money to save, but that wont help poor people in the moment. Most poor people cant afford and bitcoin because they are living paycheck to paycheck.

[Erinwen]

I have a very interesting questions: How will the poor peaple get a PC? How will they learn about the bitcoin? How will they get it? All these questions show that the bitcoin will never eradicate poverty in the world. Rich people and dont even know what the bitcoin is right now. Then the poor .........

[Twinscoin2017]

No i think bitcoin cannot end the worlds poverty.the bitcoin is only an intrument even if it is so expensive but the people arround in this world dont have an interest and  didnt work for it i think bitcoin wont work at all.in short we the people who live  in one society is the key to end the poverty if we all work as one.

[emezh10]

For me i think so.. 


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

READ MORE:

I think no because poverty can now be considered as worldwide sickness which has no cure. If your basis to say that because bitcoin provides income online to help those people in need, then it is not enough to treat or end world poverty because money or currency is not enough to stop it due to the fact that money is not the only thing we need. We also need food that comes from natural resources and that money cannot provide. Bitcoin is not that powerful to think that it can end world poverty. It may just lessen its effect on people.