LETS KICK OUT POVERTY USING BITCOIN

[project_delta]

Some people claim that Bitcoin will revolutionise the world of centralised systems and on the other side some people think that bitcoin is related to criminal activities. But what is it really about Bitcoin that has led all of us to pay attention to it? For decades we have been fighting for the alleviation of poverty but with the current financial system in order, it is a dream to make everyone feel inclusive especially the ones who have been ignored by the  current banking system for a long time. It's time to let the people know that they have this revolutionary technology in their hands that could end their search for “how to alleviate poverty”?
Bitcoin has the potential to do that. Poverty is mainly caused by these three phenomenons:
Hyper Inflation
Corruption
Financial Exclusion

-Hyper Inflation
Inflation occurs when fiat notes are floated in the market but are not backed up by value. Hence hyper inflation is when the prices increase to an uncontrollable level. Bitcoin are limited in number. When the amount of currency being floated in the market remains limited, there are least chances of inflation and almost none for hyperinflation.

-Corruption
Corruption occurs when a system lacks transparency and efficiency. Bitcoin uses a decentralized peer-to-peer transaction system where every transaction is recorded in the system and no transaction can be made without being verified by the mediator (miners). Blockchain consists of an ongoing chain of blocks that act as ledgers for every transaction. These blocks are there for ever. The records can never be deleted or tempered. This process ensures transparency and enhances reliability.

-Financial Exclusion
Financial institutes, specifically banks,  at present provide a lot of useful services but with high interest rates. These services then become meaningless or unattainable for the middle class people and impossible to avail for the poorer. Hence the poor are never able to attain any of the banking or financial services due to high rates of interest. Bitcoin has a solution to this as well. Bitcoin do not require you to pay any high interests or transaction fees to avail financial services. You simply join in and have a software wallet (or any other as there a number of different wallets to keep your money). You just need to pay a very little fee on transactions otherwise no charges. Hence poor people are not excluded from the system.

The best part of bitcoin is that it doesn't stop anyone from utilizing it,  like internet or a radio. It has no limitations to its implementation.

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[Screamshot]

Stating the advantages with out the disadvantages is quite misleading although I am a cryptocurrency enthusiast I still believe that you need to know more about bitcoin you are just stating already known fact.

[davis196]

but with high interest rates

The interest rates are not high.The banks charge fees for using their services.They make most of their income with fees and commissions.
Bitcoin can't stop hyperinflation or corruption.They are a part of the capitalist society.
Bitcoin can't replace banks,because the process of giving loans can't be 100% automated.

[gabmen]

but with high interest rates

The interest rates are not high.The banks charge fees for using their services.They make most of their income with fees and commissions.
Bitcoin can't stop hyperinflation or corruption.They are a part of the capitalist society.
Bitcoin can't replace banks,because the process of giving loans can't be 100% automated.

Yeah that's asking too much for something that still has a lot of room for change. And poverty goes well beyond banks, loans and other economic challenges. Even if bitcoin somehow closed gap with banks and fiat, i doubt it can be what you think it'll be.

[charlotte04]

Some people claim that Bitcoin will revolutionise the world of centralised systems and on the other side some people think that bitcoin is related to criminal activities. But what is it really about Bitcoin that has led all of us to pay attention to it? For decades we have been fighting for the alleviation of poverty but with the current financial system in order, it is a dream to make everyone feel inclusive especially the ones who have been ignored by the  current banking system for a long time. It's time to let the people know that they have this revolutionary technology in their hands that could end their search for “how to alleviate poverty”?
Bitcoin has the potential to do that. Poverty is mainly caused by these three phenomenons:
Hyper Inflation
Corruption
Financial Exclusion

-Hyper Inflation
Inflation occurs when fiat notes are floated in the market but are not backed up by value. Hence hyper inflation is when the prices increase to an uncontrollable level. Bitcoin are limited in number. When the amount of currency being floated in the market remains limited, there are least chances of inflation and almost none for hyperinflation.

-Corruption
Corruption occurs when a system lacks transparency and efficiency. Bitcoin uses a decentralized peer-to-peer transaction system where every transaction is recorded in the system and no transaction can be made without being verified by the mediator (miners). Blockchain consists of an ongoing chain of blocks that act as ledgers for every transaction. These blocks are there for ever. The records can never be deleted or tempered. This process ensures transparency and enhances reliability.

-Financial Exclusion
Financial institutes, specifically banks,  at present provide a lot of useful services but with high interest rates. These services then become meaningless or unattainable for the middle class people and impossible to avail for the poorer. Hence the poor are never able to attain any of the banking or financial services due to high rates of interest. Bitcoin has a solution to this as well. Bitcoin do not require you to pay any high interests or transaction fees to avail financial services. You simply join in and have a software wallet (or any other as there a number of different wallets to keep your money). You just need to pay a very little fee on transactions otherwise no charges. Hence poor people are not excluded from the system.

The best part of bitcoin is that it doesn't stop anyone from utilizing it,  like internet or a radio. It has no limitations to its implementation.

Hello sir, we can't just wish for it to happen since the balance of the world will be ruined if all people in the world will be rich except for those people who are lazy enough.

[tenebriscaelum]

Bitcoin can't stop hyperinflation or corruption.They are a part of the capitalist society.

To add up to the statement inflation is cause by the increasing demand while the production and/or resources decreases/depletes that is why prices increase and not to mention the ever growing population in every country. Also corruption will not be stopped as long as there are people who would want to take advantage to a person or people and as long as that mindset is not destroyed then corruption will just take on another form and history has already proven that. 

[Sarastiche]

Criminality and terrorist operation has being on since human existence, Bitcoin as a currency might just enhance there operation because of the ease of  transferring without bank interfernce, every good investment platform always comes up with a challenge , Bitcoin is a currency that can alleviate poverty, base on past market trend, an investment into Bitcoin is an investment that can bring about a financial change for an individual.

[wantjokull]

I guess all those three characters may help limit the self doing of corruption but I dont think that it is possible to eliminate the corruption on 100% scale with it. No thats not possible because that is still very much non transparent system out there and surely it can also be corrupted with many many ways. Lets take example of India where the crypto currency use is prohibited and no transactions related to the crypto are allowed in the bank. But people are so smart that they are still using the P2P ways to trade and invest the crypto currency. I guess there is no way one can stop this and thus it is one way or another misuse of the crypto currency to hide their wealth from the taxes and also breaking the rules. So how do you expect that one to overcome everything ??

[aoluain]

So if we focus on the thread title "lets kick out poverty using bitcoin" i would
Love to know how exactly this is going to happen because i cant see it?

Those with lots and lots of FIAT can potentially have lots and lots of crypto.
How are those with very limited resources ever going to aquire a notable
amount of bitcoin?

[warriorcryptobar]

I love the idea of kicking out poverty. But the whole reason in poverty is because  spend more than they can hodl. Giving a spendable thing to people that are in a hole, isnt a solution to poverty, unless we plan on locking the funds up on their behalf via some smart system protocols allowing the funds to become what they will be worth. The solution.

[Dreamchaser21]

So if we focus on the thread title "lets kick out poverty using bitcoin" i would
Love to know how exactly this is going to happen because i cant see it?

Those with lots and lots of FIAT can potentially have lots and lots of crypto.
How are those with very limited resources ever going to aquire a notable
amount of bitcoin?

Maybe by just creating more jobs for them so they can have resources. Bitcoin itself can’t stop poverty but through its technology maybe we can maximize it to create jobs for them. Though this is really hard to achieve but why not to give it a try, government should support this market.

[palle11]

I love the idea of kicking out poverty. But the whole reason in poverty is because  spend more than they can hodl. Giving a spendable thing to people that are in a hole, isnt a solution to poverty, unless we plan on locking the funds up on their behalf via some smart system protocols allowing the funds to become what they will be worth. The solution.

When you said giving a spendable thing to people that are in a hole, I understood it to be teach people how to fish and not to give them fish (I might be wrong or correct though). But that should be the way to financial success for the world, getting people to be aware, build their interest and  teaching them about bitcoin is important.

[Kasabus]

So if we focus on the thread title "lets kick out poverty using bitcoin" i would
Love to know how exactly this is going to happen because i cant see it?

Those with lots and lots of FIAT can potentially have lots and lots of crypto.
How are those with very limited resources ever going to aquire a notable
amount of bitcoin?

Maybe by just creating more jobs for them so they can have resources. Bitcoin itself can’t stop poverty but through its technology maybe we can maximize it to create jobs for them. Though this is really hard to achieve but why not to give it a try, government should support this market.

You're right, it absolutely Bitcoin can't eliminate poverty as it is a part of the community long time ago. Its our self which could bring out from these level, in fact the government provide us more  jobs but it sad to know that some individuals aren't qualify for the position they look for.  

[Indrawan77]

I doubt bitcoin can eliminate poverty, and bitcoin doesn't design to handle poverty problem, bitcoin could create job opportunities and extra income, but it can't be the answer to eliminate poverty, poverty should be eliminate with creating more job opportunities, and this is the job of the government

[Naughty Princess]

I think the possibility to make people equally rich/poor is what scares the government most about bitcoin. Thus they associate it with criminal issues and advocate against it

Wanting to end poverty does not mean that everyone wants to be rich. There are people who only want to have simple life and have financial freedom. Nothing to be scared because we know that rich and simple is different things. Just enough for living is good and that is possible to achieve when everyone learns to work on crypto and accepts it on the community. We have to help each other to improve life as well not only for our self.

[hahay]

I doubt bitcoin can eliminate poverty, and bitcoin doesn't design to handle poverty problem, bitcoin could create job opportunities and extra income, but it can't be the answer to eliminate poverty, poverty should be eliminate with creating more job opportunities, and this is the job of the government

I personally do not doubt if bitcoin can eliminate poverty, we know that all this time bitcoin can be obtained wherever you like and if they are observant at the opportunities that exist in bitcoin, then surely bitcoin will become an additional job or a main job that can generate good profits when this. Bitcoin has now become big different from a few years ago which did not have a high exchange rate. So by utilizing the good momentum of bitcoin, I think there will be many people who will succeed in this crypto world. Overcoming poverty is indeed the work of the government, but as long as the people are smart and want to think and keep on fighting, then this kind of society will rise from adversity and continue to seek new innovations to create their own employment.

[Mr.Boring007]

Lots of people are jobless in this intensively competitive era. Bitcoin can help people who are suffering from unemployment by providing entrepreneurship opportunities with bitcoin.

[Mahanton]

The best part of bitcoin is that it doesn't stop anyone from utilizing it,  like internet or a radio. It has no limitations to its implementation.

I know you're positiveness and optimism on how to solve out poverty but I would say that Bitcoin wont really be enough.Why? due to resources on making people aware on its existence.For people who do have the idea or knowledge then it would be an advantage but mostly aren't capable. Those points above are indeed true but wont really be applied if the user itself wont able to utilize such feature.

[AccidentalTuber]

That may not be possible very easily. People who have a great amount of fiat currency are sure to get a lot of bitcoin. But for the poor it's completely different,which is a difficult thing to change.

[project_delta]

but with high interest rates

The interest rates are not high.The banks charge fees for using their services.They make most of their income with fees and commissions.
Bitcoin can't stop hyperinflation or corruption.They are a part of the capitalist society.
Bitcoin can't replace banks,because the process of giving loans can't be 100% automated.

Yeah that's asking too much for something that still has a lot of room for change. And poverty goes well beyond banks, loans and other economic challenges. Even if bitcoin somehow closed gap with banks and fiat, i doubt it can be what you think it'll be.

I agree! But we could limit it,no?
Atleast one of the problem related to poverty could be somehow controlled if not changed.