Can Bitcoin End World Poverty?

[Dinomoves]

Yes its possible, if each government will support their community to use bitcoin, or the government make use bitcoin to help their community from poverty.

[jeanpadel14]

The existence of cryptocurrencies makes it possible to give every citizen in the world a stack of gold. The currency thus given out will not be valuable by itself – not at first. Time will have to pass in order for scarcity to change the value of the currencies. Nor will every currency succeed in making impoverished people wealthy.

[YourHumbleCorrespondent]

Nothing by itself can end world poverty, except a general consensus on the part of all nations that it is unacceptable, it is the greatest wrong in the world, and we need to make a conscious effort to end it. That means developing a level of empathy we simply are not hard-wired to do at this stage of our development, so it'll require a great culture advance.

Blockchain technology can facilitate transfers of small units of value, and these can empower those who decide to take action against world poverty. But until we, collectively, have the heart to fully fund and support these actions, we will always have poverty.

[almaerk08]

Yes its possible, if each government will support their community to use bitcoin, or the government make use bitcoin to help their community from poverty.

Yes, I think bitcoin can help end the world poverty, but not in an instant. Since we all know that we can just access bitcoin through using internet and technology, it would take time to make other people, especially the poorest and the people who dont care about having good knowledge of technology, to know and become interested in using, earning and investing in bitcoin. If everybody would be so eager about bitcoin as we are, then there is a possibility that the world poverty will be ended.

[Morning honor]

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.

Yes I agree, it is not  just easy to end poverty. It might be that through bitcoin we could have another source of income but it is hard to sustain the needs of the people with the power of crypto.

[stephylarde]

I don't see how bitcoin is helping people in Africa getting food or avoiding wars.

Bitcoin cannot end poverty in this kind of society. Because some people think that investing in Bitcoin is a scam. They don't want to accept the fact that Bitcoin can change their life if they believe in it.

[Konthol Ngaceng]

The main problem nowadays is bitcoin in banned many countries so that the bitcoin feels never maximized, if bitcoin is legalized then I am sure that the problem of poverty can be solved.

[Netnox]

I don't see how bitcoin is helping people in Africa getting food or avoiding wars.

Bitcoin cannot end poverty in this kind of society. Because some people think that investing in Bitcoin is a scam. They don't want to accept the fact that Bitcoin can change their life if they believe in it.

Bitcoin can't change the life of everyone in the world, whether they believe in it, or not. The early adopters obviously benefited from Bitcoin, in the form of huge ROI. But we can't expect Bitcoins to give the same amount of returns in the future.

[T-Bag]

Since money was first invented many thousands of years ago, poverty has always been a social problem. Income inequality has always existed. A few select people have the majority of the wealth, while everyone else have a minority of the wealth available. The Industrial Revolution of the 19th century and the arrival of the internet at the end of the 20th century did nothing to change this reality. Many people remained poor, in spite of the revolutionary way in which standards of living changed for the blue collar day laborer.


 
Precious minerals constituted a great part of this wealth. Among these were gold, silver, platinum, diamonds, rubies, emeralds, and sapphires. Each mineral has its own intrinsic value and thus its own unique price. Both governments and wealthy people recognize that precious minerals are a better way to secure long-term wealth than fiat currency, for fiat currency is subject to the whims of rulers. It may be inflated, or hyper-inflated. Its value is often determined by the decisions of those who own a nation’s printing press.

This is not the case for cryptocurrency, however. Cryptocurrency is essentially digital money with no physical basis. It cannot be printed. It can be introduced all at once or a little at a time. Among these are bitcoin, litecoin, dogecoin, darkcoin, and NXT. There are, in fact, so many different crypto currencies that it’s impossible to predict which of them, or how many of them, will become more valuable or less valuable over time.

And while cryptocurrency mining- the process of solving new blocks in a blockchain- becomes more expensive as the mining difficulty rises, it must nevertheless be observed that a cryptocurrency can be created from nothing. Indeed, people are already doing this, and continue to do this. There is every indication that bitcoin, the most popular cryptocurrency, is merely the beginning for digital money. Innovation- and copying- will occur.

It is not impossible to imagine every citizen in the world having some cryptocurrency or other, given enough time. Even people without cellphones or access to the internet can access their money through an intermediary- ie, a village internet host. Tribes of aboriginal peoples can be granted valuable assets to spend or not spend as they see fit. The money can be created out of nothing and given to anyone.

The people who will bring cryptocurrencies to various nations around the world will be those who are interested in doing so, as is already the case in Ghana. People are actively interested in improving their living conditions. The best way to do this is by improving the money people use to conduct business. As long as cryptocurrencies remain valuable while fiat currencies remain unstable and unreliable, people will have an incentive to introduce it into their region. This is true for Mexico City, and Lhasa, and Jakarta, and Canberra. It is true for Cleveland, and Ontario, and Tokyo, and Moscow.

That everyone can have money will not devalue any one currency or other. The intrinsic value of material wealth can be observed through the existence of precious minerals. The existence of diamonds does not devalue gold. The existence of silver does not devalue platinum. Nor will the existence of litecoin devalue bitcoin. Every cryptocurrency will have its own value based on what it is, what can be done with it, and how scarce it is.

To put it another way: the existence of cryptocurrencies makes it possible to give every citizen in the world a stack of gold. The currency thus given out will not be valuable by itself – not at first. Time will have to pass in order for scarcity to change the value of the currencies. Nor will every currency succeed in making impoverished people wealthy.

Yet the potential already exists. One day, poverty may be a thing of the past. On such a day, homeless people will no longer be homeless. Welfare programs – and the government agencies who administer them – will no longer be necessary. The world will be alive with commerce, wherein transactions can be done instantly with anonymity.

Such a future is not only possible; it is becoming increasingly probable.

[castellodocet]

We don't need to be hope for that, disparity among rich and poor people will always be there, sadly. Maybe bitcoin will ease the money raising process for poor people

[Apes]

If bitcoin can end world poverty I think it is impossible .. because it is not that easy and in the world already in destiny there are rich and some are poor, and bitcoin can only help some poor people to be able to work in bitcoin and earn income .. And should be supported by technology tools and not all poor people have it and not all can use it..

[s0beit]

For me i think so.. 


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

READ MORE:

I think that would be too impossible for now. Even the world organizations and government can't solve poverty no matter how hard they try. Bitcoin isn't that powerful to change every poor people's lives in every corners of the world. I believe that the change should start with in us and we can't rely all of it in bitcoin.

[chibimanau]

Bitcoin can not stop world poverty. I think that's impossible, it just makes the world better. Avoid physical barriers, facilitate transactions ...

[Zelezinskyi]

Poverty is a state problem, can not be done with instant programs such as bitcoin, the main factor of poverty is due to education, health and culture. Many things to be done if you want to overcome poverty.

[koralan]

I do not think this is true. I think they are the right place for venture capitalists, qualified people. Not suitable for eating class ... etc who have poor knowledge. That is the weakness of BTC that we can not overcome.

[btsjungkook]

I think yes bitcoin can end world poverty. because if people around the world will have the knowledge of bitcoin without suffering the world because they have money.

[lushlife]

There's a few article about that,

https://www.forbes.com/sites/steveforbes/2015/04/02/how-bitcoin-will-end-world-poverty/#512da2ad2a5a
https://01.media/bitcoin-can-end-world-poverty
http://www.coinbuzz.com/2015/04/10/how-bitcoin-will-end-world-poverty/

blockchain technology is such a powerful tool, endless possibility 

[justspare]

If bitcoin can end world poverty I think it is impossible .. because it is not that easy and in the world already in destiny there are rich and some are poor, and bitcoin can only help some poor people to be able to work in bitcoin and earn income .. And should be supported by technology tools and not all poor people have it and not all can use it..

I wish that could happen but wishes do not always come true right! The political approach to this question is that not all around the world are desired to be rich or to at least live standard lives. Yes, the possible fruits of Bitcoin are numerous and employment opportunities can spring  as a result of investments which is a way to finish poverty.

But poverty is not just the absence of money with the masses. It is the unavailability of the basic needs of life which in my opinion Bitcoin is not able to meet.

[Thira]

Well it not just easy as that, it should have process to begin with and and the main is to educate the whole world about bitcoin. It's not also easy that the whole world will embrace bitcoin because not all of us is the same way of thinking. Many will favor but much will hate but for them to better understand that bitcoin would really end world poverty they must first understand what it means and its goal.

I think poverty is the biggest problem in this world, many reasons that countries encountered this kind of problem like corrupt government, uneducated people, over population and laziness. In connection of bitcoin i think many are not familiar with this specially for those people live without the aid of internet they don,t know, they cannot enjoy the purpose of bitcoin, so maybe if all are familiar and knowledgeable regarding this  bitcoin, its a big help.

[Harley29]

I don't see how bitcoin is helping people in Africa getting food or avoiding wars.

Bitcoin cannot end poverty in this kind of society. Because some people think that investing in Bitcoin is a scam. They don't want to accept the fact that Bitcoin can change their life if they believe in it.

Bitcoin can't change the life of everyone in the world, whether they believe in it, or not. The early adopters obviously benefited from Bitcoin, in the form of huge ROI. But we can't expect Bitcoins to give the same amount of returns in the future.

Well to be honest I am not agree with you, bitcoin is better than another investment as it is giving me high amount of profit and bit is getting famous for the best source of income, now almost everyone is getting profit from bitcoin, bitcoin is the huge help for those who does not have any source of income, bitcoin is an additional source of income for me so I am going to get high profit from bitcoin this year, my only strategy I am using is the PATIENCE and holding.