Does Bitcoin Help The Poor

[Hydrogen]

People ask why they should buy and support bitcoin.

One good reason.

Bitcoin helps the poor.  

#1  BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

#2  BTC allows immigrants to send money to families back home  Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

#3  BTC empowers nations with troubled economies like africa, the philippines and venezuela  It provides a means of income to help stabilize dwindling economies like venezuela's. Provides options and opportunities to those in africa and the philippines.

There are other examples but I think people might get the gist of this without them.

Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

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[bitmover]

People ask why they should buy and support bitcoin.

One good reason.

Bitcoin helps the poor.  

#1  BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

#2  BTC allows immigrants to send money to families back home  Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

#3  BTC empowers nations with troubled economies like africa, the philippines and venezuela  It provides a means of income to help stabilize dwindling economies like venezuela's. Provides options and opportunities to those in africa and the philippines.

There are other examples but I think people might get the gist of this without them.

Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

I don't think those people are really poor.
Poor people in Venezuela, Cuba, Phillippines, etc doesn't have access to information and cannot really get to know bitcoin.

But the mid-class of those countries can really have benefits from it. All those examples are fit for mid-class citizens with some information.

bitcoin is providing a fantastic redistribution of wealth. It's amazing to see how money is changing hands in every bull run. Early adopters (or however came first) are getting 5-10-30x their investment back!

I don't think this wealth redistribution is helping poor people directly, because those people who hold bitcoin aren't really poor in my conception of the term.

[Hydrogen]

I don't think those people are really poor.
Poor people in Venezuela, Cuba, Phillippines, etc doesn't have access to information and cannot really get to know bitcoin.

The hydroelectric dam in caracas venezuela provided free electricity to residents, which many utilized to mine bitcoins. There are other cities and regions in the world with free electricity who invest in bitcoin mining. Electricity being free makes mining available even to the poor. This is an old trend dating back more than 5 years. Back to the era when GPUs could be still be utilized to mine BTC.

Immigrants to the united states from cuba pay as much as 40% taxes and fees if they send money to their families in cuba using a bank wire transfer. It was common years ago for many to use bitcoin to avoid the 40% charge.

I've heard of homeless americans using bitcoin. The only monthly charge they need to cover is their smartphone.

[Darker45]

It depends on how help is to be construed here. Normally, the word help in the phrase help the poor refers to services, products, programs, and the like which would uplift the condition of the poor. In this case, Bitcoin is not really making the lives of these people better in terms of their economic status. To illustrate it more clearly, Bitcoin can never put food on a poor man's table. Bitcoin cannot send poor little children to school. Bitcoin cannot provide roof over the heads of a poor family. Bitcoin cannot provide clothing.

It also depends on which poor are we referring to. If we are referring to the poor as in poor, those who are mired in abject poverty, they are beyond the reach of Bitcoin. If Bitcoin provides banking services to the poor, it does not include those who are really poor. If Bitcoin provides cheap and fast remittance services to the poor, it still doesn't cover the real poor of society.

[michellee]

I agree bitcoin helps the poor, but that is only for people who want to try to make money from bitcoin. If they just wait without doing something, they will not get anything and can not solve their finances. If they only bought bitcoin without doing nothing except wait, that will not good because they need to have money, and they will not get that money if they do not do something. If they can buy and sell bitcoin, they will make money from the profit they can use to buy their daily needs.

[Obito]

I agree bitcoin helps the poor, but that is only for people who want to try to make money from bitcoin. If they just wait without doing something, they will not get anything and can not solve their finances. If they only bought bitcoin without doing nothing except wait, that will not good because they need to have money, and they will not get that money if they do not do something. If they can buy and sell bitcoin, they will make money from the profit they can use to buy their daily needs.

It does not help the poorest of the poor though, the only way you could have an access to bitcoin is by having a device that has an access on the Internet. I would say, that it is more like bitcoin help those who have the access to the Internet. The only way that bitcoin can help the poor is by the mercy of the community surrounding it, if they are willing to give back to the society then bitcoin indeed does help the poor.

[Psynthax]

I mean, at the early stage of bitcoin emergence it helps a lot of people sending money borderless across nations and that certainly helps poor people who do some work from far away but have family that needs the money in some remote area but still have internet access somehow or having family in some smaller cities.

However, The fee right now kinda killing it. I mean, a dollar is really precious for poor people and I don't think poor people using crypto for such thing is viable right now.

They could use alts somehow that has significantly lesser fee but it needs to be exchanged aswell, ERC20 token also out of question because the fee is ridiculous. Earning money from bitcoin also not as easy as most of people imagined, at this point it might help some poor people but definitely small portion of them.

[mersal]

Bitcoin helps every one to get their freedom of spending their money so obviously poor people also get included into it. Remittance using bitcoin help to save a lot of money and time and while converting into the fiat people also going to pay their taxes when the limit exceeds and this also avoid the middlemen who mostly use the hawala money for illegal purpose.

People only thinking about earning bitcoin but they forgot that they can buy bitcoin with their savings money instead of depositing it into the bank account which is the think that keeps the people still poor even after they make more and more salary.

[davis196]

#1  BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

#2  BTC allows immigrants to send money to families back home  Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

#3  BTC empowers nations with troubled economies like africa, the philippines and venezuela

#1 Is it really that difficult and expensive to create a bank account?I created mine back in 2014 and it cost me less than 10 EUR.

#2This can be true,but there's no proof that immigrants are massively using Bitcoin to send money to their families.Most of the immigrants are using Western Union,Moneygram and bank transfers.

#3 It true that the crypto industry creates jobs,but the employees have to have skills in programming,blockchain and/or smart contracts.Not every poor freelancer living in countries like Venezuela and the Philippines can apply for a job in the crypto industry.

I'm not hating on Bitcoin here,I just like to debate.

[Poker Player]

I agree with the views expressed above that it does not seem to help the poor much. One of the reasons I have not seen mentioned is the cost of fees. Bitcoin is very cheap if you want to move billions, but for small amounts, especially if you want to move them fast, it's expensive in percentage terms. In theory, Lighting Network will solve this, and there are some interesting projects like Strike, but we'll see.

[LogitechMouse]

As much as I can agree with the subject title, there is a part of my mind saying that how can be the poor have access to Bitcoin if they aren't equipped with the newest technology most of us right now are using because they are poor right?

Countries like Venezuela, Africa and the Philippines really have a troubled economy right now I agree with it but not all of the poor have access to Bitcoin. People here in our country aren't that much familiar with Bitcoin especially those poor people and when I say poor, they are the people who doesn't have any smartphone or they are struggling to eat 3x a day etc. People who have access into Bitcoin can't be considered as a poor but can't be considered as rich too (like a middle class person).

[NeuroticFish]

People who have access into Bitcoin can't be considered as a poor but can't be considered as rich too (like a middle class person).

That's correct.
Bitcoin needs internet. Poor people will most probably have no internet and/or no proper devices to access it (even seldomly from free hotspots).
Bitcoin has pretty big fees. And it's not necessarily the tx fees here. It's the costs imposed by the centralized exchanges (and the average Joe will most probably use those).
Bitcoin it quite heavily tech oriented. Poor people most probably don't have the education+skills combination to understand it, hence will either avoid it, either lose it.

All in all I think that the number of poor actually helped by Bitcoin is too small to count.
The middle class can already work for it. The upper middle class may already invest into it. But the poor? No. For them it's unfortunately pretty much out of reach.

[stompix]

#1  BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

And what can you do just with bitcoins? Can you run your business only with bitcoin transactions and no bank?
Let's serious, if I would call all the business partners and suppliers of our farm and tell them we're going to stop using banks they will terminate our contracts the next second.

#3  BTC empowers nations with troubled economies like africa, the philippines and venezuela  It provides a means of income to help stabilize dwindling economies like venezuela's.

Yeah, the neverending Bitcoin will help Venezuela myth.
Bitcoin has skyrocketed in value if we were to believe all that close to propaganda level stuff about bitcoin usage there now they should be richer than Monaco.
But then reality kicks in.

Let me give you an example of how BTC is not helping the poor.

Low priority 61 sat/vB ($2.78)

Enjoy telling half of the world that bitcoin was designed for them, with fees that are only half of their daily wage.

Bitcoin helps the rich!!!
Bitcoin helped the ones that had thousands and tens of thousands of dollars to invest!
Bitcoin helps the ones that move millions with 2$, not the one paying 2$ for a 50$ transfer!

Bitcoin is the perfect example of capitalism where the ones with money make more money, no matter how much you try to spin it into a utopia, bitcoin was not designed to help the poor and will not miraculously make the people who have not a single penny rich!

[FlightyPouch]

I am seeing a lot of people that would be helped by this. I am from a province in the Philippines and to be honest, the population that uses banks is not that high. There are a lot of people that own an ATM but they rarely use it in terms of using bitcoin though, the problem surrounds the fact that most people are not that literate when it comes to these technologies and seeing them in the news that it is a scam builds the idea that it is a scam.

[Mauser]

People who have access into Bitcoin can't be considered as a poor but can't be considered as rich too (like a middle class person).

That's correct.
Bitcoin needs internet. Poor people will most probably have no internet and/or no proper devices to access it (even seldomly from free hotspots).
Bitcoin has pretty big fees. And it's not necessarily the tx fees here. It's the costs imposed by the centralized exchanges (and the average Joe will most probably use those).
Bitcoin it quite heavily tech oriented. Poor people most probably don't have the education+skills combination to understand it, hence will either avoid it, either lose it.

All in all I think that the number of poor actually helped by Bitcoin is too small to count.
The middle class can already work for it. The upper middle class may already invest into it. But the poor? No. For them it's unfortunately pretty much out of reach.

This is exactly my take on the topic  as well. Without a proper IT setup it is not really recommended to go into the crypto world. If you are at risk of losing internet access you will also lose access to your bitcoins and might not be able to trade them anymore. Even worse is if you PC is already old and dies and you don't have any proper backups in place, then you might lose your hole wallet and all your bitcoins forever. So before investing in bitcoins I would recommend to get a good PC and internet connection. With all the these things so, you probably need some starting capital which might be very difficult for a poor person.

[ethereumhunter]

I only think about how the poorest can use bitcoin because they need to know the basic thing how to use bitcoin, and they need to have access to meet local sellers if they want to sell their bitcoin. But I am sure that bitcoin help all people who want to make money, not just the poor because when they have bitcoin and hold it for a long time, and the price can increase very higher in the future, they will cover their daily needs, and they can live better than in the past.

[plvbob0070]

I somehow agree especially with what you enumerated but at some point, we can't generalize bitcoin to help the poor. It may be difficult for the lower class to have access to the bank but at the same time, they are the ones who also struggle with electricity and technological advancement so even access to bitcoin is still a hard task for them due to lack of means. As someone from the Philippines, bitcoin can indeed help people seeking opportunities like us. But as I have noticed, it's mostly the middle classes who can adopt and benefit from it since it's still difficult for the lower class to adopt and learn about bitcoin.

In conclusion, bitcoin can help the poor with its advantages but only selected people can take it.

[finaleshot2016]

In some parts, it actually helps the poor by giving opportunities to earn money through investing in it. But if we think generally, I think it's not really helping, 36% of the people are poor people and only 1% of the poor people are the ones who have the ability to access the internet so they can do investment.

I don't think we can count the others as poor if they already have the devices to access the internet like pc, tablets and smartphones.

[dondonk]

#1  BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

#2  BTC allows immigrants to send money to families back home  Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

#3  BTC empowers nations with troubled economies like africa, the philippines and venezuela  It provides a means of income to help stabilize dwindling economies like venezuela's. Provides options and opportunities to those in africa and the philippines.

from the things you mentioned, bitcoin doesn't really help the poor. they don't even understand about bitcoin. but there are great things that can be done with bitcoin. for example a charity event or a scholarship for the poor People.

[mk4]

I don't think those people are really poor.
Poor people in Venezuela, Cuba, Phillippines, etc doesn't have access to information and cannot really get to know bitcoin.

But the mid-class of those countries can really have benefits from it. All those examples are fit for mid-class citizens with some information.

bitcoin is providing a fantastic redistribution of wealth. It's amazing to see how money is changing hands in every bull run. Early adopters (or however came first) are getting 5-10-30x their investment back!

I don't think this wealth redistribution is helping poor people directly, because those people who hold bitcoin aren't really poor in my conception of the term.

You have a point, but "poor" doesn't necessarily mean that the person should be literally living in the streets without anything but themselves and dirty clothing. "Poor" can also mean actually having a home(mostly a crappy one), but simply doesn't have the funds to live normally/comfortably. This demographic consists of a good percentage(in the Philippines, idk in other places) whereas they totally rely on relatives abroad for money; and Bitcoin can definitely help in this case.

But yea, I totally agree that Bitcoin surely helps the middle class a lot more.

[IvanShirokov]

People ask why they should buy and support bitcoin.

One good reason.

Bitcoin helps the poor.  

#1  BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

#2  BTC allows immigrants to send money to families back home  Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

#3  BTC empowers nations with troubled economies like africa, the philippines and venezuela  It provides a means of income to help stabilize dwindling economies like venezuela's. Provides options and opportunities to those in africa and the philippines.

There are other examples but I think people might get the gist of this without them.

Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

I agree with you. If the governments of some countries did not fight the cryptocurrency so much, it could help the development of the economy, and increase the number of small businesses. But it seems to me that bitcoin itself is more useful for middle-class people than for people who are below the poverty line.

[Lucius]

I would answer this question differently - Bitcoin has actually already helped many poor people to live much better today than was the case, say 5 years ago. For those who remember the period 5-6 years ago when the price of 1 BTC was around $200, everyone had the opportunity to invest in BTC in one way or another. I know a lot of people who chose the easy approach of using faucets who paid very generous figures for BTC at the time - and even then I said that if we save that earnings for at least a few years, those coins will be worth much more than then.

Regardless of the common opinion of "waste of time", even 100k satoshi per day (and this was achievable in 30-60 minutes), was 0.03 BTC per month, which today is worth about $1000. For some people in third countries, these amounts mean real wealth today, and I believe (and I know personal examples) people whose lives have been changed by BTC in a truly positive sense.

[Smartprofit]

Yes, Bitcoin is a very important tool for redistributing global wealth. 

First of all, the first followers (IT specialists) became the winners.  They were the first to receive information about this technology.  They were the first to start mining bitcoins and they had enough technical knowledge not to lose access to their coins. 

Cross-border payments are one of the main useful uses of Bitcoin.  This is one of the easiest and most affordable ways to transfer funds across the border.  Now this can be done without the intermediation of a commercial bank.

[eaLiTy]

 BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

This is a concept everyone was saying for a long time, but my argument against it is that, i have met many people living under poverty. They do not have the necessary accessories to hold the coins, remember we are talking about people who are not banked and you cannot imagine them to have a smart phone or laptop to hold the coins, suppose they hold the accessories like a smart phone the risk of loosing the coins or forgetting the password are much higher.

[AicecreaME]

I don't think those people are really poor.
Poor people in Venezuela, Cuba, Phillippines, etc doesn't have access to information and cannot really get to know bitcoin.

OP means in general, when he used the "poor" term, not just the people, but the whole country. I agree on Venezuela getting benefited because of Bitcoin adaptation they just did when the lockdown starts, but I disagree here in Philippines. Government here is still not doing anything about adapting Bitcoin or whatsoever, they are focused on just borrowing money to the world bank, steal it secretly, and let its own people pay the whole debt by putting big taxes on everything.

Bitcoin helping the poor should always start above, to those who have the power, and give it to those who are in below and teach them how to use it and why to trust it, just like Venezuela do and other countries who uses Bitcoin.

[VDraci]

You got this right boss  ,bitcoin is a true economy changer, in nigeria when bitcoin was getting popular their government warned they to desist from the technology because it's bubble, scam, pyramid etc but now that the economy situation is getting more worse I'm not surprised to see even the government encouraging youths to go after bitcoin, so laughable 

[sapnu]

Bitcoin does not directly help the poor. There are different kind of poor to be honest. Some are poor because the government are abusing their power and corrupt all the money that could have helped them escape poverty while some are poor because they are too lazy to make a difference on their way of life to finally get out of the cage of being poor. Not everyone will have the courage to start learning bitcoin to escape poverty so it still depend on the people if they would let bitcoin help them become rich someday.

[arifteguhr]

I agree bitcoin helps the poor, but that is only for people who want to try to make money from bitcoin. If they just wait without doing something, they will not get anything and can not solve their finances. If they only bought bitcoin without doing nothing except wait, that will not good because they need to have money, and they will not get that money if they do not do something. If they can buy and sell bitcoin, they will make money from the profit they can use to buy their daily needs.

It is a little difficult for poor people to trade bitcoin, in terms of capital there is a large percentage that poor people prioritize their daily needs. there is a possibility that bitcoin helps poor people in ways that do not use capital, such as doing a task (airdrop) it does not require a lot of capital, because in my country currently bitcoin is starting to be known, for middle to middle people they start with a free to earn bitcoin.

[michellee]

It does not help the poorest of the poor though, the only way you could have an access to bitcoin is by having a device that has an access on the Internet. I would say, that it is more like bitcoin help those who have the access to the Internet. The only way that bitcoin can help the poor is by the mercy of the community surrounding it, if they are willing to give back to the society then bitcoin indeed does help the poor.

If the poorest can access the internet with the device, they can use bitcoin for their purpose. The device itself does not need to be expensive, but it supports to install the wallet to store bitcoin. With the internet grows in many places, that can give more chances to every people to install the wallet and use bitcoin for their benefit. But we should wait until bitcoin can grow the mass adoption among all people in all countries.

It is a little difficult for poor people to trade bitcoin, in terms of capital there is a large percentage that poor people prioritize their daily needs. there is a possibility that bitcoin helps poor people in ways that do not use capital, such as doing a task (airdrop) it does not require a lot of capital, because in my country currently bitcoin is starting to be known, for middle to middle people they start with a free to earn bitcoin.

They can trade bitcoin or hold bitcoin because when they have bitcoin, that will depend on their reason to have that bitcoin. But if they want to increase their bitcoin amount, trading will be the way for them to try. If they can have skills and can analyze better, they will have a chance to make a profit, and they can sell their bitcoin to have fiat money to buy their daily needs.

Doing airdrop will be the other way for them to have ethereum or bitcoin, which can help them make money. All in all, cryptocurrency can give them more chance to make money.

[Jawhead999]

I think it's more appropriate a middle class rather than poor, because poor people doesn't have a phone and internet to access Bitcoin.

Regarding the "qualify for a bank account" I think to create a bank account is more cheap rather than buy a phone, in my country I can create a bank account less than $4, while the phone need around $22-$25 for the cheapest one.

The poor people wouldn't have a lot money to buy that, they only have money to buy food to able survive.

[raidarksword]

The poorest people don't have access on internet so how much more on bitcoin, I would say middle class people have the chances to know and use bitcoin in real basis. I also think the poor people don't wanna involved with they don't have access with wherein they are much more interested on how they can put food on their plates and stomach everyday.

[Obito]

~snip

If the poorest can access the internet with the device, they can use bitcoin for their purpose. The device itself does not need to be expensive, but it supports to install the wallet to store bitcoin. With the internet grows in many places, that can give more chances to every people to install the wallet and use bitcoin for their benefit. But we should wait until bitcoin can grow the mass adoption among all people in all countries.

Have you seen slums or ghettos? Internet and mobile devices are the least of their worries. Having to survive for the day is the one that takes priority the most, and even if there was Internet and devices, technological illiteracy will be a problem since most community in this umbrella are inclusive, outside will only be appreciated if it is a food, financial or labor aid. Not to mention, that they will be skeptic if someone were to offer them some kind of help outside their community, they will be thinking that this help is not for free.

[AniviaBtc]

#3  BTC empowers nations with troubled economies like africa, the philippines and venezuela  It provides a means of income to help stabilize dwindling economies like venezuela's. Provides options and opportunities to those in africa and the philippines.

This is really true, there are a lot of third world countries who are struggling to work or find an opportunity to earn money.

Especially that some of its people are not that knowledgeable about the benefits and importance of bitcoin because of lack of information about bitcoin.

Now that some people in those countries are seizing the opportunity to invest on bitcoin then maybe that's their own way on how to escape poverty and financial crisis.

[Coinsfera]

People ask why they should buy and support bitcoin.
One good reason.
Bitcoin helps the poor.  
#1  BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.
#2  BTC allows immigrants to send money to families back home  Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.
#3  BTC empowers nations with troubled economies like africa, the philippines and venezuela  It provides a means of income to help stabilize dwindling economies like venezuela's. Provides options and opportunities to those in africa and the philippines.
There are other examples but I think people might get the gist of this without them.
Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

Some would ask, "Are you sure?" Yes, Bitcoin helps countries with devalued currencies such as Venezuela. Bitcoin will be a hedge for inflation and devaluation for them. But if you look at the modern world, a bunch of bitcoin holders is companies and they hold a lot. If something is getting too popular it goes to the wrong hands. I hope true hodlers hold their bitcoins and do not let other players steal the benefits of Bitcoin from them.

[Oasisman]

~snip~

These example you have enumerated doesn't really help the poor, instead It's a big help for the people in the middle class in a country like the Philippines.
Majority of the poor people in this country are computer and gadget illiterate. Plus, the internet and data connection are so inconsistent and slow.
There are still a lot of things to consider in a certain country's situation, and an improvement in Bitcoin transaction speed and fees as well.
Nevertheless, everything you have enumerated is a good idea.

[Reid]

Strongly agree.  
1. I have no bank account that really exists. It's more like an ATM only when I do my withdrawals but I don't keep money in it for a long period of time. So, I can say I am still unbanked.
2. I send money to relatives with the use of Bitcoin or a third party application instead of the bank to bank.
That's because of number 1.

For me, it is still a waste of time keeping money in the bank. We are just giving them the opportunity to make more money instead of us who should be making more while they are investing it.
I'm not sure about number 3 though.

[AicecreaME]

~snip

If the poorest can access the internet with the device, they can use bitcoin for their purpose. The device itself does not need to be expensive, but it supports to install the wallet to store bitcoin. With the internet grows in many places, that can give more chances to every people to install the wallet and use bitcoin for their benefit. But we should wait until bitcoin can grow the mass adoption among all people in all countries.

Have you seen slums or ghettos? Internet and mobile devices are the least of their worries. Having to survive for the day is the one that takes priority the most, and even if there was Internet and devices, technological illiteracy will be a problem since most community in this umbrella are inclusive, outside will only be appreciated if it is a food, financial or labor aid. Not to mention, that they will be skeptic if someone were to offer them some kind of help outside their community, they will be thinking that this help is not for free.

This is the other concern about this topic. I think they could learn it because they don't have any choice but to adopt the new currency when Bitcoin replaced fiat in the future. And for those who have no gadgets, I hope that the Government will provide everything that we need in order to be prepare in the new future, then later on, we'll just see that everyone is doing great on using cryptocurrency as our main currency.

[mu_enrico]

Absolutely yes! Bitcoin, especially with its forum Bitcointalk, does help many people earn more money, not only the poor.
There are so many opportunities, such as signature campaigns, services, and bounties. Without Bitcoin, there is no way this community can freely exchange services while keeping our privacy.

And the best thing is, we can spend the money in our local community to create a ripple effect (not about XRP, lol). So I can say Bitcoin does help my local street food stalls since I often bought it using my sigcamp money.

The once loved Roger V also stated that "the economic freedom leads to a more prosperous country" (or something similar to this phrase).

[Kong Hey Pakboy]

I believe that bitcoin and the crypto space can help people have their source of income because I am also helped by bitcoin back in the days that I don't need to rely on my parents in supporting my studies and my necessities. The only problem is that not all people have enough resources to use and earn with cryptocurrencies such as internet connection, smartphone, and computer. So it will be difficult for everyone to be saved by bitcoin or crypto financially.

[michellee]

Have you seen slums or ghettos? Internet and mobile devices are the least of their worries. Having to survive for the day is the one that takes priority the most, and even if there was Internet and devices, technological illiteracy will be a problem since most community in this umbrella are inclusive, outside will only be appreciated if it is a food, financial or labor aid. Not to mention, that they will be skeptic if someone were to offer them some kind of help outside their community, they will be thinking that this help is not for free.

Yes, of course, I have already seen that place.  Every country will have that place, and that is the government's concern to help the people who lived there. Maybe it is not be solved in the near, but the government is still working on that to help them, and I am sure that they will live better if the government is still doing hard. If those people want to live better, they will try to search for other ways to make money. And if they can learn about crypto, they will know that they can change their lives better.

[bitzizzix]

Does bitcoin help the poor, in my opinion, not all poor people can be helped by bitcoin and being poor is synonymous with misery which in my opinion will not be able to buy a smartphone in general to be able to access bitcoin because of limited money which according to him will prioritize the necessities of life.
And bitcoin can only help poor people with communities or individuals who have bitcoin income to be able to share with poor people by giving money or groceries, and there is a possibility if these poor people already know and understand bitcoin well and intend to buy a smartphone 

[cabalism13]

Bitcoin helps the poor.  

I don't think those people are really poor.
Poor people in Venezuela, Cuba, Phillippines, etc doesn't have access to information and cannot really get to know bitcoin.

Indeed, and if we say "poor" those are the people who are always in need, in terms of foods, clothing, etc, especially the informations needed to gain knowledge about the current  society. And also these poor people are considered to be one of those who lacks in money and can't  afford to open bank accounts. So basically bitcoin doesn't  benefit these people and so does the people who doesn't  even know it.

[trickys]

The vast majority of poor people in those countries don't even know what crypto is. So how's helping them?

[hulla]

The poorest people don't have access on internet so how much more on bitcoin, I would say middle class people have the chances to know and use bitcoin in real basis.

Poor can be categorized into 4 places but I can assure both the rural and urban poor have benefited from Bitcoin. Those rural poor people who don't have the chance to know Bitcoin are those that don't have internet, electricity and require information to learn about Bitcoin.
Nevertheless, Bitcoin was created to bridge the global wealth gap (giving people financial freedom) and limit inflation.

I also think the poor people don't wanna involved with they don't have access with wherein they are much more interested on how they can put food on their plates and stomach everyday.

They want to get involved but poor people who have been scammed by some fake crypto investment companies just like what happened in India, South Africa (MTI) etc. Good is what is need to pass onto them and they will be willing to invest in crypto. Mind you, people in Zimbabwe also invest in Bitcoin despite their economic issues until the Golix exit scam.

[Shasha80]

I think Bitcoin really helps the poor, I say that because there are so many articles that tell the story of a person who was in financial difficulty
suddenly becoming rich, after investing in Bitcoin. Therefore, there is a lot of news that says that Bitcoin can provide instant profit, and this is
quite misleading in my opinion. Because people who make it rich from Bitcoin are not obtained instantly, but usually requires a long process.
Then another reason that Bitcoin really helps the poor is Bitcoin can be used as a source of income, and it happened to me. I managed to improve
my economy for 5 years of trading on Bitcoin.

[shield132]

1. Please can you explain what does the following proposal means? ->who cannot qualify for a bank account
What does it take to qualify for a bank account? From personal experience, I can say that all they are looking for is to make their cards cheap and attractive for you or in the worst case, you have to pay some insignificant bucks, you won't even notice how tiny amounts you have to pay unless you are using visa gold and similar ones.

2. I think the easiest way for them can be western union and similar companies. I don't use money transfer services in overall but still, without doubt, they are the most popular ones for immigrants, at least that' what I see. Money transfer companies are extremely profitable in my area. I think buying/sending bitcoin and withdrawing of it via different methods can be far better and comfortable but mostly, poor people are far from bitcoin and technologies, that's sad.

3. Bitcoin can't help Africa, we have to change our behaviours. We don't have to build our happiness on the cost of their livings and yeah, I mean things that we get in normal price because in Africa people are working day and night to just survive. Military dictatorships and corruption is another problem. In overall, there is a problem in US.

[AndySt]

I think Bitcoin really helps the poor, I say that because there are so many articles that tell the story of a person who was in financial difficulty
suddenly becoming rich, after investing in Bitcoin. Therefore, there is a lot of news that says that Bitcoin can provide instant profit, and this is
quite misleading in my opinion. Because people who make it rich from Bitcoin are not obtained instantly, but usually requires a long process.
Then another reason that Bitcoin really helps the poor is Bitcoin can be used as a source of income, and it happened to me. I managed to improve
my economy for 5 years of trading on Bitcoin.

If a poor person can afford to allocate some of the funds to buy bitcoin and continue to keep the funds in bitcoin, then this is not exactly a poor person However, history knows many cases when really poor people denied themselves everything and still made savings in fiat money, so you can just as well talk about fiat money helping poor people. You can also talk about lottery tickets that help poor people, another question is that the number of people who these lottery tickets helped is calculated in units.

[FlightyPouch]

I think Bitcoin really helps the poor, I say that because there are so many articles that tell the story of a person who was in financial difficulty
suddenly becoming rich, after investing in Bitcoin. Therefore, there is a lot of news that says that Bitcoin can provide instant profit, and this is
quite misleading in my opinion. Because people who make it rich from Bitcoin are not obtained instantly, but usually requires a long process.
Then another reason that Bitcoin really helps the poor is Bitcoin can be used as a source of income, and it happened to me. I managed to improve
my economy for 5 years of trading on Bitcoin.

It may apply to you but I don't think poor people would be able to invest and trade crypto currencies that easily as they are already poor. At this point, these people would focus more on working their ass out since their family needed it. There are a lot of poor people here in our province and I don't think trading bitcoin would be their thing. Most of them take things for granted and some are used to the help of the government. They are not making ways like you to earn money, as I said, they are taking things for granted.

[ashmodeus]

People ask why they should buy and support bitcoin.
One good reason.
Bitcoin helps the poor.  

yes , it does.
i am one of many people getting help about it. even though i must sacrifice my six pack body become big fat since i almost 14 hours on computer , yeah i guess it's a price for it.
 nowdays , even i still have no job on real life , i still can get a little penny from playing everything games from crypto, of course i will not able to know crypto if i doesn't know bitcoin since last 2014.

[Cling18]

Yes, it could help the poor only if they would know how to transact and invest using it. It would be best if they would know how to grab all the opportunities being offered by crypto. It could provide jobs and opportunities if we'll only dig deeper to crypto world. Bitcoin actually helps faster and instant transaction which is really beneficial for all of us.

[wxxyrqa]

Yes, it could help the poor only if they would know how to transact and invest using it. It would be best if they would know how to grab all the opportunities being offered by crypto. It could provide jobs and opportunities if we'll only dig deeper to crypto world. Bitcoin actually helps faster and instant transaction which is really beneficial for all of us.

I am a little forced to disagree with you. One way or another, Bitcoin cannot help the poor in any way, since the poor do not have the means to profitably invest in Bitcoin or other cryptocurrency. But I know many examples when the radiation of the cryptocurrency market, as well as the study of trading and other opportunities to make money with cryptocurrency, gives a poor person a chance to make a good profit, given the volatility of cryptocurrencies and a fairly rapid rise in prices.

[Ayiranorea]

People ask why they should buy and support bitcoin.

One good reason.

Bitcoin helps the poor.  

#1  BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

This isn't true. The unbanked community around the world is huge. People are still unbanked just because they lack education or in someway they're in the suppressed position in the community.

#2  BTC allows immigrants to send money to families back home  Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

This is happening around. We haven't got more number of firms to pay salary in terms of bitcoin. So people are depending on banking services in someway to make transactions to different parts of the world.

#3  BTC empowers nations with troubled economies like africa, the philippines and venezuela  It provides a means of income to help stabilize dwindling economies like venezuela's. Provides options and opportunities to those in africa and the philippines.

It hasn't empowered nations. It has been tried as an alternative to uplift the economy and overcome inflation. In reality it isn't successful with Venezuela.

There are other examples but I think people might get the gist of this without them.

Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

There are charities accepting bitcoin. These are the only way through which poor people are getting benefited. Bitcoin is helping the poor people, and now it is getting turned to be the source of the rich.

[DeadCoin]

maybe right and it will also be a pathway to push the poor towards prosperity. as long as the internet access is unblocked and still around, I think the possibility to gained is unlimited.
Aside from that in my country, almost everyone is proven to have an access through digital payment.

[uneng]

Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

To those who want to help the poor I would say them to launch online tasks/jobs paying in crypto currency instead of giving money to big charity organizations or governamental third world organizations. I see many people willing to earn money by working, but that can't find job offers on their local areas or even on the internet.
At same time there are other people who aren't willing to work, but that are receiving total charity assistance from different organizations and institutions.

Although crypto currency looks amazing and a way to thrive in miserable realms, there is still a huge lack of opportunity offers which supply everyone.

[miagetz22]

Hello @amandasw90

[amandasw90]

Hello 

[oHnK]

The poorest people don't have access on internet so how much more on bitcoin, I would say middle class people have the chances to know and use bitcoin in real basis.

Poor can be categorized into 4 places but I can assure both the rural and urban poor have benefited from Bitcoin. Those rural poor people who don't have the chance to know Bitcoin are those that don't have internet, electricity and require information to learn about Bitcoin.
Nevertheless, Bitcoin was created to bridge the global wealth gap (giving people financial freedom) and limit inflation.

I never saw the poor around me understand bitcoin let alone own it. There is no need to talk about the poor as a whole. Do your neighbors who are poor and unbanked understand bitcoin and have it? Bitcoin is a fairly new type of investment when compared to others. To eat, they have a hard time, how can they use the money in bitcoins. You're probably referring to middle-income people like me. You can't call me as a rich or as a poor. I have access to know bitcoin further and feel the benefits of it, but not for my really poor neighbor.

[verita1]

Bitcoin can help the poor directly if they have access to information (internet and devices).
They could buy BTC on P2P platforms as individuals or as businesses.

Indirectly if they are benefited by a charity that accepts bitcoin to create their funds.
There are so many ways to use bitcoin to help people in need.

The solution is in our hands, we only have to look around us and act.

[CarnagexD]

What bitcoin helps the poor most is the fact that it gives the people the ppwer to control their spending ability once again without the interference of banks, and the fact that it can enable the person to get in the world of investing in as low as $20. Although of course, the person would most of the time opt to cash in more in hopes of better gains, but yeah, that is pretty much what I like the most about bitcoin.

[fishbonez11]

It helps all kind of people, if the poor have started investing on Bitcoin's early year, it have help him a lot to now. The problem is most of the poor people has no idea about bitcoin, which makes them not interested on having it and also not getting benefit from it.

[Sithara007]

First of all, Bitcoin is not a tool for wealth redistribution. The idea forms the core of socialist ideology, and Bitcoin has nothing to do with Socialism. Poor people may benefit to a certain degree, as Bitcoin works to reduce the exploitation by the central banks. When the central banks print money out of thin air and thereby get inflation out of control, the poor are the worst hit. Bitcoin works against that. But at the same time, the poor will be having less opportunity to invest in Bitcoin. You need a sizable capital for Bitcoin investment, and I don't expect a lot may of the poor people to afford that.

[iamsheikhadil]

I agree but don't you think sending money from other countries to home countries using Bitcoin (without paying import tax) is unethical? I can understand how Bitcoin is definitely superior to the established banking institutions but I think it's also being misused. And that's the reason many governments oppose it as well. I think we should create some ethical rules for this decentralized system!

[charlesmichel1]

Maybe Bitcoin was aimed to help the poor, but the broken people have no money to invest in it. When you have to live paycheck to paycheck, making investments is the last thing you think about.

[FireBallex]

Maybe Bitcoin was aimed to help the poor, but the broken people have no money to invest in it. When you have to live paycheck to paycheck, making investments is the last thing you think about.

What do you mean by broke people? You don't have to buy 1 btc that's why we have satoshis, I'm sure broke people can afford 30$ to invest on bitcoin and grow from there, when I enter crypto space I had nothing, I started with Airdrops, making 4$ and 2$ here and there until I made my first 70$ from airdrop and I invested that in bitcoin, today it's all story

[jostorres]

There are other examples but I think people might get the gist of this without them.

Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

Bitcoin helps everyone, the same things you have listed here that it is doing for the poor is the same that it does for the rich, no difference. Bitcoin helps the poor, I think people needs to understand that it is different from saying that it makes the poor rich, because I see some people who keeps saying that Bitcoin makes the poor rich, which isn’t really true.

Of course, it can make the poor rich, but how many of the poor people out there can invest the little money they have and leave it there for long till the price goes up? I have seen stories of some people that tried investing in Bitcoin, but they couldn’t wait for long before selling those coins to solve their daily needs, and after they have sold the coins the price will go up. So it’s never easy, they still have to work.

[Maxstl007]

There are other examples but I think people might get the gist of this without them.

Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

Bitcoin helps everyone, the same things you have listed here that it is doing for the poor is the same that it does for the rich, no difference. Bitcoin helps the poor, I think people needs to understand that it is different from saying that it makes the poor rich, because I see some people who keeps saying that Bitcoin makes the poor rich, which isn’t really true.

Of course, it can make the poor rich, but how many of the poor people out there can invest the little money they have and leave it there for long till the price goes up? I have seen stories of some people that tried investing in Bitcoin, but they couldn’t wait for long before selling those coins to solve their daily needs, and after they have sold the coins the price will go up. So it’s never easy, they still have to work.

People lacks patience, they can't invest money and look away for a long term without coming back and take the money out, I guess we can't all the determined, we can't all follow the same path, that's what human beings are anyways

Bitcoin is the reason why I have a new life today, the old me was a very poor guy from Africa, I knew my life could change if I went all into crypto thing and I started the hard way, faucets, Airdrops, etc just to gather some money to invest in bitcoin, it thus work out for me after a whole year of hunting for Airdrops, now I'm a miner, staker and also investor too, thanks to Bitcoin

[Traderbtcc]

The only poor people that bitcoin really helped are those who had access to cell phones back then and maybe grabbed a few bitcoin on faucets before it exploded  , the rest who came late are just there with no bitcoin in their wallet, right now bitcoin is so priced that it's only the rich that are able to buy a hand full of it , it's now the rich getting richer and the poor trying so hard to find the next bitcoin in altcoin projects (which is never going to happen), I really don't see how bitcoin help apart from being send money to someone in another country without going to the bank.
My opinion though.

[palle11]

People ask why they should buy and support bitcoin.

One good reason.

Bitcoin helps the poor.  

#1  BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

#2  BTC allows immigrants to send money to families back home  Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

#3  BTC empowers nations with troubled economies like africa, the philippines and venezuela  It provides a means of income to help stabilize dwindling economies like venezuela's. Provides options and opportunities to those in africa and the philippines.

There are other examples but I think people might get the gist of this without them.

There are other examples but I think people might get the gist of this without them.

Maybe you have to provide more examples that will actually relate to the poor because I don't think these above points relates to being poor.
Someone referred to as poor may not even no there way to the bank. Or whether a poor can become an immigrant except if not by war etc. So maybe that the title can get some adjustment as a poor person can't be banking, being an immigrant that travel to another country.

But bitcoin can surely help people who are poor if they buy even little bitcoin and hodl for longtime like people already cashing out big at this time.

[Swopon]

In my sense, Bitcoin can't reach a position that they can help poor people directly. It may take more time when btc will be reached on level by the government then BTC may attend this type of public helping activities. But BTC is helpful for the poor in one way that there are no restrictions to using BTC so poor people can earn money from this platform easily.

[Pamadar]

In my sense, Bitcoin can't reach a position that they can help poor people directly. It may take more time when btc will be reached on level by the government then BTC may attend this type of public helping activities. But BTC is helpful for the poor in one way that there are no restrictions to using BTC so poor people can earn money from this platform easily.

Make sense, due to its decentralized nature, once being understood well it can help a lot.

Not just for those who well knowledgable but also those who are willing to study and work with their opportunities from this venue. Bitcoin are not limited the design of this system is for everyone. Helping poor people in the sense that they are free to co-exist with everyone who are using this chain.

[7788bitcoin]

First of all, Bitcoin is not a tool for wealth redistribution. The idea forms the core of socialist ideology, and Bitcoin has nothing to do with Socialism. Poor people may benefit to a certain degree, as Bitcoin works to reduce the exploitation by the central banks.

There is a misconception for many that bitcoin is a tool of wealth redistribution, with any new technology and if you are able to adopt it then you will make a good profit and that is not in bitcoin alone but it can be said about any investment.

When the central banks print money out of thin air and thereby get inflation out of control, the poor are the worst hit. Bitcoin works against that. But at the same time, the poor will be having less opportunity to invest in Bitcoin. You need a sizable capital for Bitcoin investment, and I don't expect a lot may of the poor people to afford that.

If a government is printing money and if the country is affected by inflation then you could save yourself if you already invested in bitcoin rather than investing in banks.

[CODE200]

Nope. Actions help the poor.
Investing into Bitcoin won't assure profit in an instant and will thus, not make a rich individual out of a poor one. We should stop relying our fate in such technology. Indeed it is beneficial to us when it comes to transactions, investment purposes and the likes but to how we will use it, might make a change in our lives. Wealth is not earned by just believing you will achieve such thing in your life It will depend on your actions in order to get something, as simple as it may sound.

 

In my sense, Bitcoin can't reach a position that they can help poor people directly.

Any technology won't, especially a currency.

[gabbie2010]

Poor people who have access to the internet utilizes Bitcoin,  e.g Zimbabwe economy has been in bad shape due to hyper-inflation as a result of sanctions from foreign countries, people in that country adopted Bitcoin as the better alternative to their valueless currency and as a store of value for their daily transactions thus liberating them.
Sending of money via Bitcoin is even easier than Western Union which is more cumbersome i.e requires some form of KYC from the banks before releasing the fund.

[ashmodeus]

Nope. Actions help the poor.
Investing into Bitcoin won't assure profit in an instant and will thus, not make a rich individual out of a poor one. We should stop relying our fate in such technology. Indeed it is beneficial to us when it comes to transactions, investment purposes and the likes but to how we will use it, might make a change in our lives. Wealth is not earned by just believing you will achieve such thing in your life It will depend on your actions in order to get something, as simple as it may sound.

isn't buying bitcoin is an action ? , and also u wearing a signature is a part of it, even though u will get altcoins, but basicaly there is nothing if bitcoin doesn't appear, u even believe deFi technolgy will change something about currency. everything you say is inversely related to facts.

[disconnectme]

I think poor here is a state of mind, the country made be poor but that do not mean the people of the country are poor. It helps the everyone that understands the true potential of Bitcoin as a sound money. The one narrative Bitcoin has going very strong for it, is the Store of Value(SOV) and we can see everyone is paying attention to this especially for people living in countries with high inflation rate

[Princejebs]

Bitcoin doesn't just help the poor but gives financial freedom, justice, and equality to financial system. It does not follow favouritism and nepotism but supports only those who believed in his whitepaper and future as a digital asset and store of value.
It has helped me personally and I am glad to be one of the lucky and eye-opener to cryptosphere. If I'm to reverse back my time spent on this forum, I would love to spend the rest of my off days on bitcointalk in search of more knowledge and cost average buying of every sats I came across.

[AmoreJaz]

Bitcoin doesn't just help the poor but gives financial freedom, justice, and equality to financial system. It does not follow favouritism and nepotism but supports only those who believed in his whitepaper and future as a digital asset and store of value.
It has helped me personally and I am glad to be one of the lucky and eye-opener to cryptosphere. If I'm to reverse back my time spent on this forum, I would love to spend the rest of my off days on bitcointalk in search of more knowledge and cost average buying of every sats I came across.

my stay here in the forum showed me so many experiences from other users that crypto did really help them in some of their financial probs esp during this pandemic crisis. as a lot lost their jobs, they were thankful that they knew this forum beforehand. look at those bounty paying programs, i guess a lot of people also benefited from those programs even if a lot of them ended up as crap. not to mention the btc paying sig campaigns here. i believe a lot of people are really grateful to have this source of income. so yeah, all status levels of individuals here are benefiting from btc, whether you are poor or not

[Bitcoin_Arena]

I can't really speak for others but from my personal point of view, Knowing Bitcoin and other cryptocurrencies has really helped me a lot, earned me lots of money through trading and saved me lots of money via transfers. Without knowledge of cryptocurrencies, there's high probability that I would not be doing well financially.

I think what people lack is information about Bitcoin, blockchain and how much potential they have to give them Financial freedom away from the exploitative dictatorial and poor governance systems. This is the reason why most people in Africa and South America are still grappling with high levels of poverty

[TedMosby]

People ask why they should buy and support bitcoin.

One good reason.

Bitcoin helps the poor.  

#1  BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

#2  BTC allows immigrants to send money to families back home  Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

#3  BTC empowers nations with troubled economies like africa, the philippines and venezuela  It provides a means of income to help stabilize dwindling economies like venezuela's. Provides options and opportunities to those in africa and the philippines.

There are other examples but I think people might get the gist of this without them.

Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

please don't count me as a hater, but..

#1 why those who you called poor people not choosing a centralized digital wallet? no bank account needed. most of the digital wallet services in my country offer zero-fee, and it surely faster than a crypto transaction. it just needs a smartphone with a valid phone number.
I assume those people above own a smartphone too because bitcoin needs at least a device to do a complete transaction.

#2 you need to state the criteria of poor people you mention above, because I am thinking of which poor people have family abroad or travel to other countries.

#3 no idea. but how?

and..

# with those points above, it's more like bitcoin as a currency, not an asset. in terms of currency, it means it will be used for transactions. with the high fee problem, do you think it's a good choice for poor people. Also, I believe poor people's first problem is to survive, not about privacy.

CMIIW.

[aoluain]

I would answer this question differently - Bitcoin has actually already helped many poor people to live much better today than was the case, say 5 years ago. For those who remember the period 5-6 years ago when the price of 1 BTC was around $200, everyone had the opportunity to invest in BTC in one way or another. I know a lot of people who chose the easy approach of using faucets who paid very generous figures for BTC at the time - and even then I said that if we save that earnings for at least a few years, those coins will be worth much more than then.

Regardless of the common opinion of "waste of time", even 100k satoshi per day (and this was achievable in 30-60 minutes), was 0.03 BTC per month, which today is worth about $1000. For some people in third countries, these amounts mean real wealth today, and I believe (and I know personal examples) people whose lives have been changed by BTC in a truly positive sense.

Very good point, I recently posted the thread "Out of Reach" making
the point that 1Bitcoin is and will continue to be out of reach for many
many people who are involved in the space so the focus must be now
on Satoshi's, 50,000, 100,000 or even 1,000,000 satoshi's.

Its nice to hear that these smaller amounts of Bitcoin whom some
people deemed waste of time made a real difference to others.

Micro earning will continue to be important as more and more people
get involved. There is only 21,000,000BTC to go around,
that means also that there will be approximately 21,000,000,000,000,000
satoshi's.

Positivity

[hahay]

If bitcoin makes it easy for poor people to profit, then why are there still many bitcoin traders who find it difficult to make a profit. I don't understand about it because this circle isn't always about spending money to make a profit, because just having you spend time with the skills you have in reality will still give anyone a profit. So, about whether bitcoin helps the poor I think it depends, how enthusiastic they are for a technology because with high enthusiasm of course not only the poor, because bitcoin can help anyone if they can.

[jostorres]

Some would ask, "Are you sure?" Yes, Bitcoin helps countries with devalued currencies such as Venezuela. Bitcoin will be a hedge for inflation and devaluation for them. But if you look at the modern world, a bunch of bitcoin holders is companies and they hold a lot. If something is getting too popular it goes to the wrong hands. I hope true hodlers hold their bitcoins and do not let other players steal the benefits of Bitcoin from them.

Not only the countries with bad fiat neither, even the ones that have a bit of decent fiat as well because if it is not gaining value against dollar, or keeping up with it, that means your fiat will lose value against dollar and having bitcoin is a much better option. Also this is for all those nations (including huge ones like USA) where the economy looks great but it is just huge corporations that gets richer that makes the economy look great while regular people in tens of millions lose their jobs and houses and gets evicted and starving.

There are over 30 million people who applied for unemployment benefits just in USA and when they got it they were wiped from the system to make it look like they are not looking for a job anymore, it looks like there is record breakingly low amount of people who needs jobs, IN A PANDEMIC PERIOD WHERE MANY BUSINESS ARE CLOSED, who buys that? Those are all government tricks and crypto helps you get away from them to the true fair economic system.

[South Park]

What bitcoin helps the poor most is the fact that it gives the people the ppwer to control their spending ability once again without the interference of banks, and the fact that it can enable the person to get in the world of investing in as low as $20. Although of course, the person would most of the time opt to cash in more in hopes of better gains, but yeah, that is pretty much what I like the most about bitcoin.

It also helps by offering bank like services to those that could never get a bank account in their home countries and it also allows them to compete and receive fair wages for their services, after all if you offer the same quality of work why someone that lives in a first world country should receive 10x the payment while the person living in a poor country receives peanuts? BTC helps those people by offering them a way to receive payments all over the world for their services.

[Spaffin]

If bitcoin makes it easy for poor people to profit, then why are there still many bitcoin traders who find it difficult to make a profit. I don't understand about it because this circle isn't always about spending money to make a profit, because just having you spend time with the skills you have in reality will still give anyone a profit. So, about whether bitcoin helps the poor I think it depends, how enthusiastic they are for a technology because with high enthusiasm of course not only the poor, because bitcoin can help anyone if they can.

In any case, a poor person, in my understanding, does not have access to even minimal funds to use as capital for investment or cryptocurrency trading. In addition, the poor may not always have access to the Internet. But if we are talking about people who have very small incomes to support their families, then cryptocurrencies really help them, if, of course, a person has a sufficient amount of experience and knowledge.

[thesmallgod]

How poor are the poor. If you mean those who don't have access to shelter, foods electricity etc I would say to some extent it might not. To make use of bitcoin you need internet and education. Poor people don't have this. Secondly some people are not poor but deliberately don't want to get banked due to some reasons or the others. A lot of people that I know that even have education cannot simply comprehend what and how to send and receive bitcoin. Poor people need education and internet in order to use bitcoin unless there exist a tech that address this

[AndySt]

How poor are the poor. If you mean those who don't have access to shelter, foods electricity etc I would say to some extent it might not. To make use of bitcoin you need internet and education. Poor people don't have this. Secondly some people are not poor but deliberately don't want to get banked due to some reasons or the others. A lot of people that I know that even have education cannot simply comprehend what and how to send and receive bitcoin. Poor people need education and internet in order to use bitcoin unless there exist a tech that address this

We can talk about bitcoin helping really poor people only to an indirect extent, because really if a person does not have access to the necessary amount of food, as well as to electricity and the Internet, then it is impossible to talk about any cryptocurrencies in their case. Such people have completely different priorities in life and cryptocurrencies do not play any significant role at this point in time. Although I think that in the future there may be some special cryptocurrency projects to help the poor, when cryptocurrencies really penetrate into all segments of the population.

[Yatsan]

It is not literally direct for me that Bitcoin do helps poor people for you still must do an action to help yourself up upon considering yourself as a poor person to eventually make your life get even better. Bitcoin somewhat help those people gain opportunities of having decent work or source of income but for those who make way to be able to earn using Bitcoin as a platform just like doing trading, investing and other related works. Maybe on an indirect manner Bitcoin is being used by some people or organizations to fund their projects that aim to help poor people but if you are pertaining that Bitcoin directly helps poor people, I don't think it is.

[zanezane]

To me, Bitcoin helps the poor in a way that they are not directly involved with Bitcoin per se, it is more of a second hand thing that they are getting helped. Bitcoin helps those that have the access and opportunity, and if by a chance that those that have the opportunity to know about Bitcoin is a charitable person then in some sort of way, they Bitcoin helped those poor people. Have to agree with banking services of bitcoin, most of the people that had the opportunity to know the wonders of bitcoin does not have a prior knowledge about banks or when they have, they did not know that they are getting screwed with. The money remittance aspect is nothing different from those existing remittance centers like Western Unions, the only catch is that there is little to no middleman fee if you were to send across a continent. Empowerment can be subjective topic, some people are still oppressed in society because they still haven't reach the circle of the 1%.

[carlisle1]

People ask why they should buy and support bitcoin.

One good reason.

Bitcoin helps the poor.  

#1  BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

But not because person has not qualify to Have bank account meaning He is Poor , Because there are many Wet market businessman has not qualify for bank accounts But living richer now, Though i see your point about that because if we are rich there is no reason why we cannot pay for banking account.


But the rest is Perfect explanation how Helpful Bitcoin for the Lowest community in the world, only if they will Find it Fit sooner .

[kolesozw]

People ask why they should buy and support bitcoin.

One good reason.

Bitcoin helps the poor.  

#1  BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

#2  BTC allows immigrants to send money to families back home  Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

#3  BTC empowers nations with troubled economies like africa, the philippines and venezuela  It provides a means of income to help stabilize dwindling economies like venezuela's. Provides options and opportunities to those in africa and the philippines.

There are other examples but I think people might get the gist of this without them.

Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

While #2 and #3 are true, at least to some degree, I cannot agree about #1.

If you cannot qualify for a bank account, the chances to have money and knowledge to buy and operate with crypto are very slim.

[slapper]

There are, actually, many restrictions blocking those people from using bitcoin as a form of money:

- First: The lack of money decreases their chance to buy themselves a laptop or at least a smartphone so as to access the blockchain network or buy bitcoin. How can they use bitcoin if they do not even know what a telephone look like?

- Second: The government will be the first one to stop them from using such technologies. Bitcoin is kinda opposite to the monetary and because of that reason, people cant avoid paying tax by using it, which third world countries' governments do not want to happen

- Third: Most of the people in these countries do not have high education in order to understand bitcoin and other cryptocurrencies. In developed countries, people still believe in the monetary system and discriminate against bitcoin

Thus, bitcoin only helps a minority of poor people while others still suffer many disadvantages. Only governments and leaders are capable of free their citizens from this misery

[virasisog]

First, Crypto is not created to solve poverty. It will never be a solution to make a poor man rich. Second, the mentioned countries cannot be considered poor countries, they are developing countries. Bitcoin is beneficial to those who have access to it, which excludes those who are earning below-average income. Those who don't have access to the internet. It also excludes those who are not aware of it. Crypto creates opportunities, but the risk is also inherent, it was not meant to solve poverty.

[redsun114]

First of all, Bitcoin is not a tool for wealth redistribution. The idea forms the core of socialist ideology, and Bitcoin has nothing to do with Socialism. Poor people may benefit to a certain degree, as Bitcoin works to reduce the exploitation by the central banks. When the central banks print money out of thin air and thereby get inflation out of control, the poor are the worst hit. Bitcoin works against that. But at the same time, the poor will be having less opportunity to invest in Bitcoin. You need a sizable capital for Bitcoin investment, and I don't expect a lot may of the poor people to afford that.

Well, let's not jump out of wagon and say that bitcoin has "nothing" to do with socialism. The idea is a bit anarchist idea and those ideas are usually closer to left then right in most cases. Bitcoin was created so that people could have their own currency and their own bank outside of the current one in the system to go against what capitalism has put forward and forced people to deal with, thanks to bitcoin you could get away from those places and create your own, a financial freedom without dealing with any government currency.

Now if that doesn't sound like it is socialist even just a bit? I don't know what sounds socialist to you. I am not saying the whole idea is socialist, of course not, the idea is to get away from evil financial companies ruining your fiat while making themselves richer, but "get away from evil financial companies" is such a socialist thing to say so I believe it is definitely a bit part of it.

[Casdinyard]

First, Crypto is not created to solve poverty. It will never be a solution to make a poor man rich. Second, the mentioned countries cannot be considered poor countries, they are developing countries. Bitcoin is beneficial to those who have access to it, which excludes those who are earning below-average income. Those who don't have access to the internet. It also excludes those who are not aware of it. Crypto creates opportunities, but the risk is also inherent, it was not meant to solve poverty.

I am not sure if OP is pointing out profit related help to the poor, or benefits that the poor ones are getting from Bitcoin. If that is profit, we'll it is quite sketchy because such thing is not easily earned in this technology without doing nothing. When it comes to the benefits like sending and transferring of funds across countries, is it only for the poor? Convenience, low fee and free of tax are things I am seeing as a help from this technology but that's not for the poor alone but also for all of its users. I agree with the idea that cryptos are not created to solve poverty, and rather, created to be an alternative to fiat transactions.

[The cure]

Bitcoin can help the poor yes, but that does not mean that they can be helped without any effort. We all know that trading is not that easy as they think, it requires more patient and knowledge or else they may suffer even more if they defeated. Crypto bring us opportunities to help us make our lives easier with the continuous development of our technology.

[MCobian]

I agree with the opinion that Bitcoin help the poor, because it's a fact that does happen. Although not a few people are poor because of
Bitcoin too. Therefore there are rules and ways to get profit from Bitcoin, not just buying Bitcoin we can instantly become rich. Therefore,
if we find an investment offer that can double your Bitcoin without selling it, it is a fraud. So poor people if they want to get profit from Bitcoin,
they need to first learn what Bitcoin is, so they can't get instant profit from Bitcoin.

[Yum Bravo]

Bitcoin can help poor people avoid the risk of inflation, such as in Venezuela.

[KEN B]

Bitcoin will not help the poor with a high probability. First, the poor do not have enough money to buy Bitcoin. Secondly, the volatility of Bitcoin is too large, and the poor may not be able to bear the risk of Bitcoin at all. Finally, the poor tend to have the psychology of chasing ups and downs, which is not desirable for any investment and speculation.

[Fredomago]

I agree with the opinion that Bitcoin help the poor, because it's a fact that does happen. Although not a few people are poor because of
Bitcoin too. Therefore there are rules and ways to get profit from Bitcoin, not just buying Bitcoin we can instantly become rich. Therefore,
if we find an investment offer that can double your Bitcoin without selling it, it is a fraud. So poor people if they want to get profit from Bitcoin,
they need to first learn what Bitcoin is, so they can't get instant profit from Bitcoin.

The danger of those people who are rushing things out, people who loves exploring without proper  understanding, they are very prone of losing money instead of generating it.

Poor people can help out by this investment venue if they will do their reserch and with good understanding beneat this investment feature they will be able to grab those money out from either investing or trading this asset.

Not simple as many promise quick results, it takes time before you'll be able
to bag good amount of profits.

[NeverSop]

In my opinion, Bitcoin cannot help the poor. Specifically, the information about technology of the poor always advocates, they do not even know what bitcoin is? My Vietnam is such a school. The poor often think about the piece of rice, the shirt, the stability and the conservation, but they do not tend to be strong and are qualified to access information or speculate. They don't even know the wallet and how to use bitcoin? any chance
Bitcoin could in fact cause a huge gap in status between rich and poor.
Anyway, We are one of the most successful countries in holding back covid 19's development most convincingly.

[Obito]

~

This is the other concern about this topic. I think they could learn it because they don't have any choice but to adopt the new currency when Bitcoin replaced fiat in the future. And for those who have no gadgets, I hope that the Government will provide everything that we need in order to be prepare in the new future, then later on, we'll just see that everyone is doing great on using cryptocurrency as our main currency.

Depending on your government will not get you that far, you know how bureaucracy is still a problem. And those people that are in power will not always put the welfare of their people, the one in need. If adoption was that easy, we should have done already.

[JoKleinTopper]

I don't really think so. it's hard for the poor to know about btc, let along buying it. Wealthy become richer through btc, poor people stay plain.

[KEN G]

Not possible. First of all, the poor may not have enough money to have an account to trade Bitcoin. Second, Bitcoin may be more risky than the poor can afford. Finally, the poor have very little understanding of investment, which may put them in a more impoverished state.

[KEN H]

Bitcoin can help the poor to a certain extent. When the time is right, Bitcoin can enable the poor to obtain substantial benefits in a short period of time. But at the same time, it will also make the poor get rich overnight, so that the poor will no longer work.

[KEN K]

Bitcoin can help the poor obtain certain benefits, but it may be difficult to get rich.

[ultrloa]

Not possible. First of all, the poor may not have enough money to have an account to trade Bitcoin. Second, Bitcoin may be more risky than the poor can afford. Finally, the poor have very little understanding of investment, which may put them in a more impoverished state.

Why not if you are skilled enough to do some task offered by so many people here provably you can earn some money here, remember earning with bitcoins doesn't need any diploma or resume the only thing you need is skill and hardwork to get a job.

Remember earning bitcoin is not only for rich people or for buying it since there are so many ways to earn it without spending any bucks.

Bitcoin can help the poor obtain certain benefits, but it may be difficult to get rich.

Nothing is impossible for people who is dedicated on their craft so if you like bitcoin and believe on its technology maybe you should find some way to gain skilled and enhance it and maybe from this you can earn richest that you can't imagine that will came to you.

[Flowzer]

In my country, some of people do bounty hunter and airdrop hunter. Most of them are low-middle class person, they really have income from this field and i think the idea is bitcoin help the poor is true. Since if no Bitcoin  then maybe no cryptocurrency space at this time. Also its helps some middle-high person do mining to get cryptocurrency rewards.

[youdacapt]

In my own opinion; i think bitcoin helps the poor, the average, the rich; infact bitcoin helps everyone. starting from the pandemic angle; crypto currency has helped reduce the effects of the pandemic because people were encouraged to make payments on the blockchain. If we then add the trading, investment and the hunt for bitcoin by individuals in the world; you would agree that bitcoin helps everyone

[samputin]

I agree bitcoin helps the poor, but that is only for people who want to try to make money from bitcoin. If they just wait without doing something, they will not get anything and can not solve their finances. If they only bought bitcoin without doing nothing except wait, that will not good because they need to have money, and they will not get that money if they do not do something. If they can buy and sell bitcoin, they will make money from the profit they can use to buy their daily needs.

How can people buy bitcoin if they are poor? That's true about buying ang selling bitcoin, but how can we do that? I have solution on how bitcoin helps the poor! Like this signature campaign, we earn through advertising this campaign. And our salary will be use in trading. Trading really helps to grow our money, patient is the key. You know what I am pointing is? Wait the high price.

This is a simple way to get out in poverty using bitcoin.

[arowana33]

People ask why they should buy and support bitcoin.
Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

Bitcoin has shown its profitability for "poor" people, mainly from developing countries.
But at this point fees and transaction time are too high to use it, so I guess this mission lay down on altcoins now.

[GbitG]

As I am new to this but feeling its really helping many even not for poor but good for many those are going with skills and not able to go on work now can do much things just because of this technology bitcoin is reducing many issues which was doing very bad in middle class peoples and lower income in developing countries now they can increase the level of life with this because very few time and good earning is really possible.

[Alfreed]

People ask why they should buy and support bitcoin.
One good reason.
Bitcoin helps the poor

They are not poor people if they have opportunity to buy even a part of Bitcoin. Poor are those who had never heard about crypto, use Nokia 1100 or even wire phones and never had computers. They are really poor and Bitcoin has no opportunity to help them. Crypto can help only clever traders or miners to earn some money

[GeorgeJohn]

Actually it's obvious that bitcoin will help immensely to enrichment people and eradicate levels of poverty in different societies, shall let us call it a day.
normally bitcoin helped in different dimension because with the existence of cryptocurrency people are enable to transact when ever them feel like sending money to the relatives without much stress, so op is right because is obvious that cryptocurrency in general has reduce the level of stress via sending money across another country without passing much strategies in fiat banking system, I think with that alone it's applause to satoshi.

[shoreno]

People ask why they should buy and support bitcoin.
One good reason.
Bitcoin helps the poor

They are not poor people if they have opportunity to buy even a part of Bitcoin. Poor are those who had never heard about crypto, use Nokia 1100 or even wire phones and never had computers. They are really poor and Bitcoin has no opportunity to help them. Crypto can help only clever traders or miners to earn some money

if i say that i can buy btc but my money is only 1 dollar , do you think i am rich ? no . not all who buy btc are rich and also not those that who own a nokia phones are poor .

bitcoin is not a government , btc dont have a people behind it so how can btc distribute the help  . the only way i think btc can help is when people also join btc , they can get help by earning profits .

[AndySt]

People ask why they should buy and support bitcoin.
One good reason.
Bitcoin helps the poor

They are not poor people if they have opportunity to buy even a part of Bitcoin. Poor are those who had never heard about crypto, use Nokia 1100 or even wire phones and never had computers. They are really poor and Bitcoin has no opportunity to help them. Crypto can help only clever traders or miners to earn some money

if i say that i can buy btc but my money is only 1 dollar , do you think i am rich ? no . not all who buy btc are rich and also not those that who own a nokia phones are poor .
bitcoin is not a government , btc dont have a people behind it so how can btc distribute the help  . the only way i think btc can help is when people also join btc , they can get help by earning profits .

There can be no universal answer to this question, but really at this point in time, we still have to state that bitcoin can bring much more benefit to the middle and wealthy segments of society in terms of investment and speculation than to the poor. Although it can be recalled that bitcoin is sometimes used by migrant workers who have left to work in another country for cross-border transfers to not the richest members of their family.

[k@suy]

if i say that i can buy btc but my money is only 1 dollar , do you think i am rich ? no . not all who buy btc are rich and also not those that who own a nokia phones are poor .

bitcoin is not a government , btc dont have a people behind it so how can btc distribute the help  . the only way i think btc can help is when people also join btc , they can get help by earning profits .

Yes, what I am thinking is, people believe that their luck or their future depends on bitcoin, maybe yes it can help many people if they know how to manage finances correctly but then if you will invest small amount do you expect to receive same amount or higher amount than that? The answer is no, people need to be hardworking enough for them to not to be poor again and to learn new is what will help them to not be poor again.

[acener]

I agree that it really does help the poor but only if the poor could use and manage it properly.
Sometimes the problem with the poor is how they handle their income that is why they stay poor.
They tend to spend more to boost their social status, Buy the things that aren't really necessary for them.

[marcbitcoins]

People ask why they should buy and support bitcoin.
#2  BTC allows immigrants to send money to families back home  Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

There are large percentage of overseas workers sends money home every month by western union which is very expensive but If this can be made easily via Bitcoin it could be the preferred way of sending money for foreign workers in the whole world, making Bitcoin a cheap alternative to transfer money will be a really big help to them.

[NathanielParker]

It depends on how help is to be construed here. Normally, the word help in the phrase help the poor refers to services, products, programs, and the like which would uplift the condition of the poor. In this case, Bitcoin is not really making the lives of these people better in terms of their economic status. To illustrate it more clearly, Bitcoin can never put food on a poor man's table. Bitcoin cannot send poor little children to school. Bitcoin cannot provide roof over the heads of a poor family. Bitcoin cannot provide clothing.

It also depends on which poor are we referring to. If we are referring to the poor as in poor, those who are mired in abject poverty, they are beyond the reach of Bitcoin. If Bitcoin provides banking services to the poor, it does not include those who are really poor. If Bitcoin provides cheap and fast remittance services to the poor, it still doesn't cover the real poor of society.

it's possible that some people, they heard about bitcoin and bought it. but people who did that is really few. I have a classmate who did bitcoin mining last year and got a little bitcoin costing $50,000......

[KEN O]

I do not agree with many of the above points. Can Bitcoin help the poor?
First of all, the poor may not have many ways to access Bitcoin, let alone understand how to invest in Bitcoin. Second, since they are poor, will the poor have extra money to invest in Bitcoin? Finally, for the poor, the most important thing should be survival, not life.
This is my understanding.

[Janation]

I just hope they could use Bitcoin.

There are a lot of countries that also banned the use of Bitcoin. Another thing is that despite the country not against Bitcoin sometimes legalized Bitcoin, some citizens don't use it because of the fact that they think that it is as scam or most of the time they don't care. I just hope more and more people would use Bitcoin so its popularity would reach even those poor people.

[Emitdama]

I believe it is not going that direction anymore. We shouldn't really confuse fairness and help, because they are vastly different things. Bitcoin is fair to poor people, that means poor people have a higher chance to make money from crypto versus their chance to make money from fiat world, because in fiat world rich people get their way, hell they can't even bankrupt and just get bailed out instead, so rich people and poor people are not living in the same world, things are not fair towards the poor people and destined to make them even poorer in the fiat world.

However in crypto world, things are more fair, rich or poor everyone lives in the same world and everyone is equal in the eyes of blockchain so there is nothing shocking, a rich guy could sell low and regret or a poor guy could buy low and sell high to profit, it is all equal chances, BUT that doesn't mean poor will get rich, it just means playing field is leveled, rich could still make a profit if they can.

[skarais]

However in crypto world, things are more fair, rich or poor everyone lives in the same world and everyone is equal in the eyes of blockchain so there is nothing shocking, a rich guy could sell low and regret or a poor guy could buy low and sell high to profit, it is all equal chances, BUT that doesn't mean poor will get rich, it just means playing field is leveled, rich could still make a profit if they can.

The economic status of bitcoin users may not affect the function of bitcoin itself. Both of them get the same advantage of bitcoin as decentralized asset as well as many other advantage. However, when viewed from the point of view of the potential profit obtained from trading, people who have a lot of capital are much more likely to benefit from this asset. The point is that bitcoin is not a get rich quick scheme, despite the fact that some of us have so far made hundred or million of dollar in profit. Basically, the rich and the poor have the same opportunity to get profit, but capital and knowledge are very important to get more.

[Flowzer]

In my country, some of people do bounty hunter and airdrop hunter. Most of them are low-middle class person, they really have income from this field and i think the idea is bitcoin help the poor is true. Since if no Bitcoin  then maybe no cryptocurrency space at this time. Also its helps some middle-high person do mining to get cryptocurrency rewards.

Indeed, bitcoin helps many people if we look at it today, it is proven that some people have a side job or stay with bitcoin. Not a few of them whose economy can be improved. which makes me now more able to introduce to people how to get closer and also get bitcoin for free or we invest. hope that more people can help their economy later by the existence of bitcoin

Yes even though its not a significant impact to the wide society at least it have good impact on it. But i believe some rich people also take opportunity to make them richer with bitcoin, but most of them didnt speak too much like low-middle person while they get some profit from this field its like they got a diamond.

I do not agree with many of the above points. Can Bitcoin help the poor?
First of all, the poor may not have many ways to access Bitcoin, let alone understand how to invest in Bitcoin. Second, since they are poor, will the poor have extra money to invest in Bitcoin? Finally, for the poor, the most important thing should be survival, not life.
This is my understanding.

Firstly, to get crypto is not only by investment. You can do airdrop hunter, bounty hunter, and faucet with theirsmartphone or rent a public computer. But in case if the "poor" term in this thread means people with no capital and no skill at all, then the hopes is only from charity, isnt it?

[SirLancelot]

if i say that i can buy btc but my money is only 1 dollar , do you think i am rich ? no . not all who buy btc are rich and also not those that who own a nokia phones are poor .

bitcoin is not a government , btc dont have a people behind it so how can btc distribute the help  . the only way i think btc can help is when people also join btc , they can get help by earning profits .

Yes, what I am thinking is, people believe that their luck or their future depends on bitcoin, maybe yes it can help many people if they know how to manage finances correctly but then if you will invest small amount do you expect to receive same amount or higher amount than that? The answer is no, people need to be hardworking enough for them to not to be poor again and to learn new is what will help them to not be poor again.

You are still thinking about making profits in fiat and becoming rich in the fiat world. Bitcoin helps the poor people not via that, hell for poor people bitcoin is bad for economical and fiat reasons because you pay so much fee for doing so little things, even sending can cost as much as 10-20 dollars at peak times and that is not poor friendly.

The idea that bitcoin helps the poor is the fact that rich can't get away with anything they want, in the real world when wall street loses money, they just ask government to print more money and bail them out, just in the recent 2020 year alone there was hundreds of billions of dollars printed and given to them, which they used for giving themselves bonuses instead of helping the investors and the people who lost money with them. So long story short decentralization is the reason why bitcoin helps poor people, not profiting on trading.

[South Park]

Bitcoin can help the poor yes, but that does not mean that they can be helped without any effort. We all know that trading is not that easy as they think, it requires more patient and knowledge or else they may suffer even more if they defeated. Crypto bring us opportunities to help us make our lives easier with the continuous development of our technology.

Bitcoin gives them an option but at the end they are the ones that have to work hard to reach their goal, making money in this market is possible but it is not easy at all, they will have a lot of competition that has been here for years and that is something that you cannot easily overcome as experience can be only gotten through time, anyway even if I think bitcoin is a great option for those that may not have as many resources I doubt the majority will take advantage of this opportunity.

[paxmao]

People ask why they should buy and support bitcoin.

One good reason.

Bitcoin helps the poor.  

...

1, It does not provide banking services. They cannot borrow, pay bills, etc...  It does provide some level of saving and investment ability.
2, Yes, that´s right.
3, Yes, agree.

I think that the best thing is that it has contributed to some degree of social mobility for the really poor that got into crypto and were willing to work and have some faith.

[FlightyPouch]

Maybe Bitcoin was aimed to help the poor, but the broken people have no money to invest in it. When you have to live paycheck to paycheck, making investments is the last thing you think about.

What do you mean by broke people? You don't have to buy 1 btc that's why we have satoshis, I'm sure broke people can afford 30$ to invest on bitcoin and grow from there, when I enter crypto space I had nothing, I started with Airdrops, making 4$ and 2$ here and there until I made my first 70$ from airdrop and I invested that in bitcoin, today it's all story

I don't know where you live but if you are in a third world country, I don't think you are seeing those people. All of the money they are earning is going all around to their family. They are more focused on earning for their family not just because it is not enough but because that is the only thing they can do. Most of the people I know can't even buy things for themselves. They work themselves to death just to give their family food.

$30 in our country is a huge amount that can feed their family in a week. They don't have any technologies in their houses except for radios and keypad phones that are given by their neighbor. They aren't literate about technologies. To be honest, I tried talking to them about investing, as they say, teach a man how to fish, something like that but he said that their funds are not even enough to go around the family, obviously, he can't afford to lose it to investments because, to be honest, we are not all like you that earned so quickly. It will not be the same thing for all of us that would earn the same as you.

[Cynthiajia0]

Microsoft's Bill Gates has expressed admiration for cryptocurrencies in the past. In a recent video, he claimed that digital technology has the power to empower the poorest people in the world.

[777Jolami]

In my opinion, bitcoin has the ability to help the poor.  Motivate them to rise, try to make money and give them the opportunity to expose them to the world of modern technology, understanding and empowering them to change their lives.  Like how bitcoin originated and created auxiliary blocks.  for example, the bitcointalk forum also helps a lot of unemployed people.

[laredo7mm]

We can not think about crypto without talking about bitcoin. The Crypto industry has already become a trillion dollars industry and it also opens up much space for work. Poor people can not be profited from bitcoin by investing in it but crypto provides them many working sectors where they can work to earn money. We can say it is helping the poor indirectly.

[ivankoh]

People ask why they should buy and support bitcoin.

Bitcoin helps the poor.  

Bitcoin cannot help the poor. But it will indirectly create will and energy for them. Bitcoin was born with little or no value.
It's simple, but really useful for the poor to think about bitcoin.
A good correlation to boost. For them, will and hard work is the right direction for them to change their lives.

[dezoel]

I don't know where you live but if you are in a third world country, I don't think you are seeing those people. All of the money they are earning is going all around to their family. They are more focused on earning for their family not just because it is not enough but because that is the only thing they can do. Most of the people I know can't even buy things for themselves. They work themselves to death just to give their family food.

$30 in our country is a huge amount that can feed their family in a week. They don't have any technologies in their houses except for radios and keypad phones that are given by their neighbor. They aren't literate about technologies. To be honest, I tried talking to them about investing, as they say, teach a man how to fish, something like that but he said that their funds are not even enough to go around the family, obviously, he can't afford to lose it to investments because, to be honest, we are not all like you that earned so quickly. It will not be the same thing for all of us that would earn the same as you.

I live in one of those nations, 30 dollars may not be good enough for one week of feeding a family because things are quite expensive here but the salaries are that low and even though we do not earn more than 40-50 bucks a week, we pay more than 30 dollars a week just on food, so finance is horrible here and there are people starving and even committing suicide for being too poor and can't find a way out.

However I have learned long time ago that if you can work and have a normal life, as in if you have a job at a place with a salary, that means whatever you earn from crypto world would be side income that you do not put into regular life. I had horrible days, I had days when I literally didn't have money for dinner, I just slept early without eating, but yet I didn't cashed my coins out, I just used my salary for expenses and I used crypto income for investment and now I have a decent amount thanks to that, I am going to keep investing until I can buy a home.

[Issa56]

I don't really believe bitcoin helps the poor there are lots of countries where the poor people around there don't even have access to electricity, internet, and even mobile phone self. Most of those people those not even know about bitcoin due to there location and lack of information and communication, There are people that don't even have money to invest in bitcoin or to trade bitcoin so how will they benefit, that's why I don't believe bitcoin is really helping the poor.

[Prettyjing3]

A Professor of Massachusetts Institute of Technology: Bitcoin can help the US financial system to be more stable and make it easier for the poor to obtain financial services

[AngelaT34534]

Bitcoin Cash, as an encrypted digital currency dedicated to becoming the best currency in the world, can not only be easily used by 20% of the world’s rich, but also very friendly to the 80% of the poor.

[nomenclatur]

bitcoin made a lot of big changes to the economy in developing countries, many poor people are helped by bitcoin and it has made the economy more developed, most importantly bitcoin can lift the economy of all people around the world until now bitcoin has helped many people during the current pandemic. this is proof that bitcoin is a solution to ease payments between countries.

[GloriaG00586]

In Venezuela, in March 2019, the price of a cup of coffee rose 373,000% from a year ago.

Many Venezuelans are exchanging their Bolivar coins into Bitcoin so they can hold something of value. Therefore, it is not surprising that the popularity of Bitcoin in Venezuela can soar, and sometimes the transaction volume of Bitcoin in these regions can even rival that of the United States.

[Bagshlvp]

In the past few years, buying Bitcoin may gain a lot of benefits and may help the poor.

[Karartma1]

I don't know where you live but if you are in a third world country, I don't think you are seeing those people. All of the money they are earning is going all around to their family. They are more focused on earning for their family not just because it is not enough but because that is the only thing they can do. Most of the people I know can't even buy things for themselves. They work themselves to death just to give their family food.

$30 in our country is a huge amount that can feed their family in a week. They don't have any technologies in their houses except for radios and keypad phones that are given by their neighbor. They aren't literate about technologies. To be honest, I tried talking to them about investing, as they say, teach a man how to fish, something like that but he said that their funds are not even enough to go around the family, obviously, he can't afford to lose it to investments because, to be honest, we are not all like you that earned so quickly. It will not be the same thing for all of us that would earn the same as you.

I live in one of those nations, 30 dollars may not be good enough for one week of feeding a family because things are quite expensive here but the salaries are that low and even though we do not earn more than 40-50 bucks a week, we pay more than 30 dollars a week just on food, so finance is horrible here and there are people starving and even committing suicide for being too poor and can't find a way out.

However I have learned long time ago that if you can work and have a normal life, as in if you have a job at a place with a salary, that means whatever you earn from crypto world would be side income that you do not put into regular life. I had horrible days, I had days when I literally didn't have money for dinner, I just slept early without eating, but yet I didn't cashed my coins out, I just used my salary for expenses and I used crypto income for investment and now I have a decent amount thanks to that, I am going to keep investing until I can buy a home.

Truth coming from your words. Those days and those circumstances allowed you to learn a difficult lesson but you made it through which is all what matters. I don't think bitcoin was designed neither to help the poor nor to facilitate the richer, even though I am sure that if you understand why it was created in the first place you can do something good about, which is your case. Keep it up, slowly stacking sats and prepare for the future as I believe the best is yet to come.

[Kong Hey Pakboy]

I don't really believe bitcoin helps the poor there are lots of countries where the poor people around there don't even have access to electricity, internet, and even mobile phone self. Most of those people those not even know about bitcoin due to there location and lack of information and communication, There are people that don't even have money to invest in bitcoin or to trade bitcoin so how will they benefit, that's why I don't believe bitcoin is really helping the poor.

I also agree with your statement, especially if we are talking about the poor (no money, no food regularly-- in a simple terms can't sustain themselves or their families). We all know the initial requirements if we wanted to know about bitcoin and crypto which are devices (computers or smartphones) and internet connection. Bitcoin does not help the poor UNLESS there will be someone who is familiar with bitcoin and help those people in need in a way they will learn how to invest and trade cryptocurrencies. It's an indirect impact, and it will still go down to the subject humanity. Bitcoin is a mere currency, it is up to us who use it on how we will handle it.

[Theresajing0]

Bill Gates: Digital currency will help the poor, more than 1,500 restaurants can order meals with Bitcoin，while exempting tax and handling fees, it can also avoid inflation

[blckhawk]

I don't really believe bitcoin helps the poor there are lots of countries where the poor people around there don't even have access to electricity, internet, and even mobile phone self. Most of those people those not even know about bitcoin due to there location and lack of information and communication, There are people that don't even have money to invest in bitcoin or to trade bitcoin so how will they benefit, that's why I don't believe bitcoin is really helping the poor.

I also agree with your statement, especially if we are talking about the poor (no money, no food regularly-- in a simple terms can't sustain themselves or their families). We all know the initial requirements if we wanted to know about bitcoin and crypto which are devices (computers or smartphones) and internet connection. Bitcoin does not help the poor UNLESS there will be someone who is familiar with bitcoin and help those people in need in a way they will learn how to invest and trade cryptocurrencies. It's an indirect impact, and it will still go down to the subject humanity. Bitcoin is a mere currency, it is up to us who use it on how we will handle it.

Well, you two have a point because how poor people supposed to use Bitcoin if they have no tools upon accessing it. The money they have isn't enough for them to acquire these devices. But I guess this will vary on the country we are living in like if you living in a third world country then I'd say that Bitcoin will not be totally helpful for poor people as the money they have is only enough for their daily livings but in a case of a rich country like the USA, Bitcoin could somehow be helpful. I heard that there are poor people who use Bitcoin to receive a donation and such.

[dezoel]

I live in one of those nations, 30 dollars may not be good enough for one week of feeding a family because things are quite expensive here but the salaries are that low and even though we do not earn more than 40-50 bucks a week, we pay more than 30 dollars a week just on food, so finance is horrible here and there are people starving and even committing suicide for being too poor and can't find a way out.

However I have learned long time ago that if you can work and have a normal life, as in if you have a job at a place with a salary, that means whatever you earn from crypto world would be side income that you do not put into regular life. I had horrible days, I had days when I literally didn't have money for dinner, I just slept early without eating, but yet I didn't cashed my coins out, I just used my salary for expenses and I used crypto income for investment and now I have a decent amount thanks to that, I am going to keep investing until I can buy a home.

Truth coming from your words. Those days and those circumstances allowed you to learn a difficult lesson but you made it through which is all what matters. I don't think bitcoin was designed neither to help the poor nor to facilitate the richer, even though I am sure that if you understand why it was created in the first place you can do something good about, which is your case. Keep it up, slowly stacking sats and prepare for the future as I believe the best is yet to come.

Those hard days were basically forced upon me by the rich people, while they did risky investments and crashed and instead of bankrupting and losing just one night of sleep, they just got bailed out by the governments and they got free money from them, and they got tax cuts from them which basically means that we are in a situation where CEO's that caused us to be poor got bonuses for not allowing to bankrupt whereas we didn't know where the next meal was coming from. That made me open my eyes and as soon as I found bitcoin in early 2013 I jumped into it and never looked back since.

I am not here so I can make more fiat, I am here because I want to see the day when I can spend only crypto and never have to deal with fiat ever again. No matter what I want to pay or what I want to spend my money on, I want to do it with crypto. And hence I am holding until I can't anymore.

[eXPHorizon]

Short answer.

No


This opinion might change in time, who knows.

[Alucard1]

In some parts, bitcoin may help the poor through a charity that would be the meaning of what you called "bitcoin helps poor people, just like a signature we have in the forum, there is a charity that helps people in the Philippines in the local section. If you mean, bitcoin may help people from being poor then that is possible but it still depends on the person and the resources or tools they have Some countries are still not well-familiar with technologies and no stable internet connection which is the most important things you should have before exploring the world of bitcoin.

[Jemzx00]

Short answer.

No


This opinion might change in time, who knows.

Bitcoin can help poor people but it depends. If you think about it, Bitcoin is a digital currency which poor people mostly doesn't have access to as it requires internet and handlers or devices such as Phones, and Computers. But in some ways, it can help people to earn and manage their financial for students and jobless that lived in underlying countries such as Philippines. Also, the are some charity program through bitcoin and other crypto that would help poor people.
For me, Bitcoin can help poor people but only those who are capable to access it and it can act as a medium where community can provide donations anonymously to help poor people.

[South Park]

I don't really believe bitcoin helps the poor there are lots of countries where the poor people around there don't even have access to electricity, internet, and even mobile phone self. Most of those people those not even know about bitcoin due to there location and lack of information and communication, There are people that don't even have money to invest in bitcoin or to trade bitcoin so how will they benefit, that's why I don't believe bitcoin is really helping the poor.

There are different levels of poverty, for the lowest levels that have no access to electricity and the Internet there is nothing bitcoin can do for them, it is unfortunate but it is the truth, however for those that do not have the best living standards but still have access to a smartphone, electricity and the Internet bitcoin can be a great equalizer as it allows them to have a way to receive funds all over the world and compete in the job market for better opportunities and improve their future in that way.

[Renampun]

Bitcoin can help the poor? I think of course it can...
in some countries, the value of Bitcoin against their currency is very large, for example in African countries. if we look at the current value of Bitcoin against USD then it is very large if we use it in an African country.

[kpierce77]

That's right, and the most important point is that bitcoin is able to provide bank services to almost anyone in the world who may not be qualified to open an account. it is true that every place or country has a different standard of living, but I think bitcoin has become a very good and effective solution when compared to before bitcoin.

Bitcoin is also freedom, which almost anyone can use as long as there is internet. bitcoin provides financial services that should be provided by banks by charging fees, whereas with bitcoin we can get the same financial services as banks for a much cheaper fee and even barely pay these fees. I guess that's what it means to help the poor, by bringing financial banking services to everyone without having to go through confusing bank structures and high fees.

[Alfreed]

People ask why they should buy and support bitcoin.
One good reason.
Bitcoin helps the poor

They are not poor people if they have opportunity to buy even a part of Bitcoin. Poor are those who had never heard about crypto, use Nokia 1100 or even wire phones and never had computers. They are really poor and Bitcoin has no opportunity to help them. Crypto can help only clever traders or miners to earn some money

if i say that i can buy btc but my money is only 1 dollar , do you think i am rich ? no . not all who buy btc are rich and also not those that who own a nokia phones are poor .

bitcoin is not a government , btc dont have a people behind it so how can btc distribute the help  . the only way i think btc can help is when people also join btc , they can get help by earning profits .

No but you can buy bitcoins and they can't, simply because they don't have the physical capability, you see ?

[Webetcoins]

In some parts, bitcoin may help the poor through a charity that would be the meaning of what you called "bitcoin helps poor people, just like a signature we have in the forum, there is a charity that helps people in the Philippines in the local section. If you mean, bitcoin may help people from being poor then that is possible but it still depends on the person and the resources or tools they have Some countries are still not well-familiar with technologies and no stable internet connection which is the most important things you should have before exploring the world of bitcoin.

I do not think that is what the question means, it is more about if bitcoin is more inclined to help the poor or help the rich. For example if you are in the fiat world, a company with 100 billion dollars networth can do whatever they want, if they end up losing money because of a mistake they did, government will give them a tax cut or give them even money, and that company will be saved whereas someone who has no money at all could get in debt and government will not care about it, which means fiat world is inclined to help the rich people more. The question here is that if bitcoin is reverse of that.

I think it is not helping the poor more than it helps the rich, it is just a regular thing that has nothing to do with poor or rich, it is equal distance to both of them, which seems like helps the poor because rich are used to getting help but it is not really helping any of them.

[AicecreaME]

Short answer.

No


This opinion might change in time, who knows.

I'll be happy if you'll provide further explanation that will support your answer about Bitcoin not helping the poor.

Here is my opinion on your answer. Bitcoin can help anyone, no matter what life status you have in the community, the problem is, everyone doesn't have smart phones, laptop, and internet to access and buy Bitcoin, also they are now knowledgeable in that kind of stuff so it's a barrier for those who are unfortunate. That's why a helping hand is needed, as a stepping stone for the poor to know Bitcoin and to know how to earn them is different ways, without it, obviously, it can't help the poor of course.

[BChydro]

In Venezuela, in March 2019, the price of a cup of coffee rose 373,000% from a year ago.

Many Venezuelans are exchanging their Bolivar coins into Bitcoin so they can hold something of value. Therefore, it is not surprising that the popularity of Bitcoin in Venezuela can soar, and sometimes the transaction volume of Bitcoin in these regions can even rival that of the United States.

In this regarding bitcoin and the crypto currency market helps an individual to store their value in global nomination when their local currency is going down drastically due to inflation and many people from different countries can take advantage of the situation and it will help them if they store their wealth in bitcoin rather than storing them in banks. I does not help the poor but i helps people who has wealth to retain them if your local economy is crashing.

[HOT_HEAD]

Bitcoin can help the poor if those poor people are willing to learn about bitcoin and adopt it. Bitcoin is just easy to use and can really help the poor people if there is someone who educate them about digital currency, the importance and the use of it.

I disagree. The biggest problem for poor people is them actually acquiring crypto and knwoing how to sell it and where. It all sounds good about being your own bank, sending money wherever,etc.. but most of those people don't know or won't bother with crypto until it's not made really, really convenient for everybody.

Now for OP,:

Provides banking services to the unbanked - BTC to conduct business and make electronic transactions.

When I think of poor people it's not the same as you do, this is more middle class you're thinking of. Poor people don't do this so it doesn't help them in any way.


BTC allows immigrants to send money to families back home - Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

Never heard of this. No one wants to bother with this if they're an immigrant. First generation immigrants are usually poorer people and live with almost no expenses and really doubt that they'd bother with crypto and all that jazz if they're already not into that and bank and wiretransfer fees are usually nothing compared to the standards of a country they're coming from.

empowers nations with troubled economies like africa, the philippines and venezuela  It provides a means of income to help stabilize dwindling economies like venezuela's. Provides options and opportunities to those in africa and the philippines.

It provides means of income? Where should they get crypto in the first place? Buy it? I think they have a lot more important things to do with that money than invest in crypto.

You're either ignorant or delusional if you think poor people have time, will and finance to bother with crypto. Does btc help the poor? I'd say no, but it does help the middle class that might have the knowledge, funds and time to mess with crypto.

[Oilacris]

Short answer.

No


This opinion might change in time, who knows.

I'll be happy if you'll provide further explanation that will support your answer about Bitcoin not helping the poor.

Here is my opinion on your answer. Bitcoin can help anyone, no matter what life status you have in the community, the problem is, everyone doesn't have smart phones, laptop, and internet to access and buy Bitcoin, also they are now knowledgeable in that kind of stuff so it's a barrier for those who are unfortunate. That's why a helping hand is needed, as a stepping stone for the poor to know Bitcoin and to know how to earn them is different ways, without it, obviously, it can't help the poor of course.

It does simply need for someone to get to work or do get involved  with some effort and investment for someone to earn here on crypto space.It can indeed help but of course

it would really be needing some work for you to grasp those kind of chance or possibilities for you to earn profits.Its true that this would really be a big blockage into those people

who are lacking those primary needs before you can able to engage with crypto or bitcoin itself.This isnt something that all people would be knowledgeable about, even the most
basic info about crypto would already help but due to capacity and capability then it isnt really possible for them to engage easily.

[kramchers]

Bitcoin s for everyone who will open their mind about it. Meaning, it doesn't matter if you are poor or rich belongs type.
But what most important is you understand what bitcoin is ? or it can give a chance to everyone  to earn here in this type of business in
online. Because as far as I know the majority if the community so far here in crypto space that Bitcoin was really helpful to
everyone here all over the world now.

[FlightyPouch]

Bitcoin can help the poor if those poor people are willing to learn about bitcoin and adopt it. Bitcoin is just easy to use and can really help the poor people if there is someone who educate them about digital currency, the importance and the use of it.

How could bitcoin help poor people just by using it? The only way the poor people could be use or have bitcoin is when other people gave them or donated them. They can't invest or buy bitcoin because they can't afford it. Other would say they need to save but what they don't understand is that they are not earning enough money to save money. Most of them don't even have a job.

[qwertyup23]

Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

One thing that bitcoin gives is that it provides the opportunity for these below-average income earners to earn passive income for either short or long-term investment.

In addition, it also provides the opportunity to these poor people to be in the same footing as rich people in terms of accessibility of purchasing such coin. Bitcoin has opened the doors for both these poor and rich people the opportunity to earn significant amount of cash depending on your luck as an investor.
Personally, this forum has enabled me to earn while at the same time focus on my post-graduate studies simultaneously.

[AndySt]

Bitcoin can help the poor if those poor people are willing to learn about bitcoin and adopt it. Bitcoin is just easy to use and can really help the poor people if there is someone who educate them about digital currency, the importance and the use of it.

How could bitcoin help poor people just by using it? The only way the poor people could be use or have bitcoin is when other people gave them or donated them. They can't invest or buy bitcoin because they can't afford it. Other would say they need to save but what they don't understand is that they are not earning enough money to save money. Most of them don't even have a job.

With the same success, you can talk about the effectiveness of studying a certain horse in a spherical vacuum, the study of which will help to avoid poverty, disease and just a bad mood Direct study of bitcoin really will not allow you to eradicate poverty, because the social stratification of society has completely different reasons than just ignorance of the basics of building a blockchain and the ability to conduct transactions with bitcoin.

[Noctis Connor]

Bitcoin can help the poor if those poor people are willing to learn about bitcoin and adopt it. Bitcoin is just easy to use and can really help the poor people if there is someone who educate them about digital currency, the importance and the use of it.

How could bitcoin help poor people just by using it? The only way the poor people could be use or have bitcoin is when other people gave them or donated them. They can't invest or buy bitcoin because they can't afford it. Other would say they need to save but what they don't understand is that they are not earning enough money to save money. Most of them don't even have a job.

It is true that no one can just get out of poorness just by using crypto currency people are just too lazy when talking about money people are just waiting for something to happen to them they not thinking the other way. If you're talking about money people always thinking about the easiest way to earn money to double their money and if you're poor you're not going to invest your tight budget just to risk in it without any knowledge on what you're doing if those government will share knowledge and so on maybe this crypto currency will be the solution.

[Ryker1]

Bitcoin can help the poor if those poor people are willing to learn about bitcoin and adopt it. Bitcoin is just easy to use and can really help the poor people if there is someone who educate them about digital currency, the importance and the use of it.

How could bitcoin help poor people just by using it? The only way the poor people could be use or have bitcoin is when other people gave them or donated them. They can't invest or buy bitcoin because they can't afford it. Other would say they need to save but what they don't understand is that they are not earning enough money to save money. Most of them don't even have a job.

Well, actually those who hold bitcoin are not poor people because they can afford to invest and also have an internet connection. I don't think that is a poor status that you meant. Perhaps those types of people are in a mid-class type of people that can afford to invest and they had a job to sustain the investment process of bitcoin. However, not all bitcoiners help bitcoin to bring up their financial status, some of them got a problem when they experienced panic selling.

[kinvan f]

will not.
Short-term holding is speculation, long-term holding is investment.
The psychology of the poor is destined to speculate.
Speculation means a greater probability of failure.

[barbara44]

I believe it is definitely going to be something that helps the poor people in the end but it will not be directly. The logic is like this; bitcoin should be closing the gap between the rich and the poor, it should make middle class a thing again, it should cap the profits wealthy people could have because poor people have the same amount of return, it should also prevent the companies from getting bailed out because there is no bailing out in crypto, and at that point regular people should start getting money from corporations more and more.

This isn't like "give poor some money so they are not poor anymore" situation, this is more "cap wealth so that everyone gets a share from available amount" type of fix that is long term.

[FlightyPouch]

Bitcoin can help the poor if those poor people are willing to learn about bitcoin and adopt it. Bitcoin is just easy to use and can really help the poor people if there is someone who educate them about digital currency, the importance and the use of it.

How could bitcoin help poor people just by using it? The only way the poor people could be use or have bitcoin is when other people gave them or donated them. They can't invest or buy bitcoin because they can't afford it. Other would say they need to save but what they don't understand is that they are not earning enough money to save money. Most of them don't even have a job.

Well, actually those who hold bitcoin are not poor people because they can afford to invest and also have an internet connection. I don't think that is a poor status that you meant. Perhaps those types of people are in a mid-class type of people that can afford to invest and they had a job to sustain the investment process of bitcoin. However, not all bitcoiners help bitcoin to bring up their financial status, some of them got a problem when they experienced panic selling.

That is one of the reasons why a lot of poor people where I told them about crypto currency said no or I don't know. I told them that even though they will put their money into it, it won't be a 100% profit since it will be a risk. These people are desperate to earn money, that is why I thought it could help them but I think it won't and might make them lose their money and hate me for pushing them there. 

[Arkann]

Today, in many countries, small and medium-sized businesses do not seek to expand and create new jobs. At least if a businessman implements cryptocurrency in his activities, then this will give him the opportunity to save on many taxes and make it possible for his poorer population to receive some income.

[geegaw]

Bitcoin s for everyone who will open their mind about it. Meaning, it doesn't matter if you are poor or rich belongs type.
But what most important is you understand what bitcoin is ? or it can give a chance to everyone  to earn here in this type of business in
online. Because as far as I know the majority if the community so far here in crypto space that Bitcoin was really helpful to
everyone here all over the world now.

The concept of bitcoin is for everyone is just a relative concept, although it can be used by everyone but when we join here, we will discover an unfair reality, the rich and the people with a certain capital will have more advantages while the poor will never know bitcoin, even if the poor know about bitcoin, what will they do to earn bitcoin when their living conditions have not allowed them to participate, have no money and no tools, everything is just useless for them. Bitcoin is a farm that invests and makes money, the prerequisite to working is capital and time, the poor really lack too many of these factors

[lienfaye]

Bitcoin help the poor who understand its nature and knows how to take advantage it as a user. Given the fact that sending money wherever you are became easy and fast, whats more interesting is it can be an opportunity to earn by investing because of the fluctuations that can make us gain in due time.

However it depends on the level if we say poor, because there are people who dont have any gadgets to use for internet access or who live in isolated areas far from the city. Bitcoin can only help people who are interested to learn and know deeper the technology.

[lixer]

Bitcoin s for everyone who will open their mind about it. Meaning, it doesn't matter if you are poor or rich belongs type.
But what most important is you understand what bitcoin is ? or it can give a chance to everyone  to earn here in this type of business in online. Because as far as I know the majority if the community so far here in crypto space that Bitcoin was really helpful to everyone here all over the world now.

Bitcoin is for everyone that's right but if you actually read the whitepaper of Bitcoin you will realize the sole reason Bitcoin was built was to empower people above banks and banking system and that is basically to help the poor.

Now lets see how bitcoins actually help the poor.

1- No unwanted fees: Lets be honest, a lot of guys use BTC to save their taxes and fees and I don't blame them because in countries the fees and taxes are beyond understanding.

2- Being our own bank: You don't have to trust banking system which means you hold the money you own.

The unfortunate part is that even though built for the poor, its the rich guys who are now getting into the market and controlling it to quite an extent now.

[molsewid]

I believe it is definitely going to be something that helps the poor people in the end but it will not be directly. The logic is like this; bitcoin should be closing the gap between the rich and the poor, it should make middle class a thing again, it should cap the profits wealthy people could have because poor people have the same amount of return, it should also prevent the companies from getting bailed out because there is no bailing out in crypto, and at that point regular people should start getting money from corporations more and more.

This isn't like "give poor some money so they are not poor anymore" situation, this is more "cap wealth so that everyone gets a share from available amount" type of fix that is long term.

I think you are right with bitcoin and other cryptocurrencies, there's no border to rich and poor or middle classes, all people can buy a coin as low as $10 in which I think everyone can buy as long as they have enough money, it is not directly will help the poor but rather let's call them unfortunate can be rich in the future or will have a better future if they will persevere and hard work to learn everything in the crypto with the limited amount they are having.

[angrynerd88]

It can say that bitcoin makes a difference the destitute, but that's as it were for people who want to undertake to form cash from bitcoin. On the off chance that they fair hold up without doing something, they will not get anything and cannot illuminate their funds. In case they as it were bought bitcoin without doing nothing but hold up, that will not great since they ought to have cash, and they will not get that cash in the event that they don't do something. On the off chance that they can purchase and offer bitcoin, they will make cash from the benefit they can utilize to purchase their every day needs.

[romero121]

Bitcoin can help the poor if those poor people are willing to learn about bitcoin and adopt it. Bitcoin is just easy to use and can really help the poor people if there is someone who educate them about digital currency, the importance and the use of it.

How could bitcoin help poor people just by using it? The only way the poor people could be use or have bitcoin is when other people gave them or donated them. They can't invest or buy bitcoin because they can't afford it. Other would say they need to save but what they don't understand is that they are not earning enough money to save money. Most of them don't even have a job.

Well, actually those who hold bitcoin are not poor people because they can afford to invest and also have an internet connection. I don't think that is a poor status that you meant. Perhaps those types of people are in a mid-class type of people that can afford to invest and they had a job to sustain the investment process of bitcoin. However, not all bitcoiners help bitcoin to bring up their financial status, some of them got a problem when they experienced panic selling.

That is one of the reasons why a lot of poor people where I told them about crypto currency said no or I don't know. I told them that even though they will put their money into it, it won't be a 100% profit since it will be a risk. These people are desperate to earn money, that is why I thought it could help them but I think it won't and might make them lose their money and hate me for pushing them there. 

You've done it right, because the market changes happen in no time. Another thing, poor people invest what is available for the living. Even now we've got people living with a single meal around us. Maybe if the user is lucky, he/she will get profit out of the investment. The large volume investors have the ability to manipulate and make profit out of it. This way it has transformed as an asset for the rich.

[oHnK]

I believe it is definitely going to be something that helps the poor people in the end but it will not be directly. The logic is like this; bitcoin should be closing the gap between the rich and the poor, it should make middle class a thing again, it should cap the profits wealthy people could have because poor people have the same amount of return, it should also prevent the companies from getting bailed out because there is no bailing out in crypto, and at that point regular people should start getting money from corporations more and more.

This isn't like "give poor some money so they are not poor anymore" situation, this is more "cap wealth so that everyone gets a share from available amount" type of fix that is long term.

I think you are right with bitcoin and other cryptocurrencies, there's no border to rich and poor or middle classes, all people can buy a coin as low as $10 in which I think everyone can buy as long as they have enough money, it is not directly will help the poor but rather let's call them unfortunate can be rich in the future or will have a better future if they will persevere and hard work to learn everything in the crypto with the limited amount they are having.

Bitcoin has no limits, but poor people have limits on understanding bitcoin.  Why do I dare to say this, because basically Bitcoin can be used using the internet.  How can poor people have internet access.  If you expect the government to legalize it as a legal currency.  It is very difficult.  But if Bitcoin is to be used by the poor, what must be done is the socialization of Bitcoin so that there is trust from the public so that it can be used by the wider community.

[jostorres]

Bitcoin can help the poor if those poor people are willing to learn about bitcoin and adopt it. Bitcoin is just easy to use and can really help the poor people if there is someone who educate them about digital currency, the importance and the use of it.

How could bitcoin help poor people just by using it? The only way the poor people could be use or have bitcoin is when other people gave them or donated them. They can't invest or buy bitcoin because they can't afford it. Other would say they need to save but what they don't understand is that they are not earning enough money to save money. Most of them don't even have a job.

Exactly because to own bitcoins you have to buy them and there are no restrictions on who can buy and who cannot buy bitcoins so even the world's richest guy Elon Musk can buy bitcoins while also the world's poorest guy (me lol ) can buy any amount I wish.

Bitcoin was made to disrupt the banking era and I would say it served the purpose but still if you ask a common man they would want their money in bank rather than bitcoins, that is because despite bitcoin being the uncrowned king of all payment systems, still brings some uncertainty when market crashes there are no answers why its dropping, similarly when it rises no one knows why.

[Mahanton]

Bitcoin has no limits, but poor people have limits on understanding bitcoin.  Why do I dare to say this, because basically Bitcoin can be used using the internet.  How can poor people have internet access.  If you expect the government to legalize it as a legal currency.  It is very difficult.  But if Bitcoin is to be used by the poor, what must be done is the socialization of Bitcoin so that there is trust from the public so that it can be used by the wider community.

That's reality. How those poor people will be able to access internet, especially those who are residing inside rural areas where electricity and
communications are lacking, how they'll be able to grab the chance of using this system if there's no available channel for them to acquire the
knowledge, it's in need to have access where rich are very satisfied enjoying all the benefits.

They had benefited out because of their hardwork and make themselves rich and thats how reality works.You would earn some you wouldnt gain some if you dont work hard for it.
On this worlds reality then theres always people who are on the top of the chain and those who are on the bottom.Its really hard to look down into those people who do even
have a hard time on sustaining their needs but you cant do anything about it but somehow they can really changed up their way of living or status if they do just know on how
to work hard and work smart to make themselves any better as day passed. Bitcoin wont help those people unless if they do know on how to deal with it.
Its just a matter on how they would find ways.

[AndySt]

Bitcoin has no limits, but poor people have limits on understanding bitcoin.  Why do I dare to say this, because basically Bitcoin can be used using the internet.  How can poor people have internet access.  If you expect the government to legalize it as a legal currency.  It is very difficult.  But if Bitcoin is to be used by the poor, what must be done is the socialization of Bitcoin so that there is trust from the public so that it can be used by the wider community.

That's reality. How those poor people will be able to access internet, especially those who are residing inside rural areas where electricity and
communications are lacking, how they'll be able to grab the chance of using this system if there's no available channel for them to acquire the
knowledge, it's in need to have access where rich are very satisfied enjoying all the benefits.

This is from the situation when the well-fed never understand the hungry, when the rich and contented, having all the benefits and opportunities to strengthen their wealth, accuse the poor of laziness and lack of diligence. And when the flow of such hypocrisy overcomes a certain line, revolutions can arise, which usually bring a lot of disasters to the population and say that the ruling elites are breaking away from reality and losing control of the situation.

[shenmedoubudong]

It has been nearly ten years since Bitcoin came out. Although various death predictions are endless, it survived in the end. At present, it has become a recognized medium for transferring funds, and at the same time it is regarded as currency in some countries like Japan.

[benedikt_sofronov]

Changing the current economic situation by digitizing currency and related financial systems may directly help those living in poverty at this stage. At the same time, various token incentive projects contribute to the development of key areas such as healthcare and agriculture.

[benedikt_sofronov]

Bitcoin cannot solve the problem of human wealth distribution. Bitcoin can widen the gap between rich and poor. Most of the time, non-interest-bearing bubble assets are the game of the rich. In the beginning, it will help some poor people achieve a class transition, and the poor after the transition will become rich.

[plemechton]

BTC is unusable for the poor. But helps the wealthier. I make your same argument for BTC versus Fiat

[chrisculanag]

It can help if we are willing to share the goodnews about this but some poor really not interested because wasting time and cannot afford internet connection to know this. I am poor too but i need to know and learn more about this. It can help me so much i can buy somethings that previously cannot afford. And because of this i learned to trade and hold a little bitcoin and also altcoin but if you poor then you are not open minded about this you are not gain a success. Need more time to read and learn more about crypto and im sure we gain success.

[plr]

I am one of those poor people who benefited and got big help from trading and holding Bitcoin and until now Bitcoin is still a big help for poor people, these people are bounty hunters and freelancers, and of course investors, Bitcoin has created thousands of jobs for people, I will be still working in a factory if I have not stumble Bitcoin, I owed a lot to Bitcoin and Cryptocurrency.

[oHnK]

Bitcoin wont help those people unless if they do know on how to deal with it.
Its just a matter on how they would find ways.

Doesn't Bitcoin basically want to close the gap that has been caused by banking so far?  If you say that the problem is how the poor find the way to Bitcoin itself means Bitcoin is not the solution to that gap.  Solutions exist for every problem not to burden the poor who are already very heavy.  Bitcoin has not shown concrete evidence in helping the poor because if you look at the existing data.  In my country, the poor don't have the awareness of Bitcoin to help them.  Because Bitcoin is a risk to increase their poverty.

[cabalism13]

I am one of those poor people who benefited and got big help from trading and holding Bitcoin and until now Bitcoin is still a big help for poor people, these people are bounty hunters and freelancers, and of course investors, Bitcoin has created thousands of jobs for people, I will be still working in a factory if I have not stumble Bitcoin, I owed a lot to Bitcoin and Cryptocurrency.

I'm pretty interested on how Bitcoin did reach to you if you're that one of the below average people in the economy...
I also wonder how can you keep being online in this kind of times, as I'm well aware that if we say "poor" that means they really are helpless...
So would you mind sharing your story?

[DoublerHunter]

I am one of those poor people who benefited and got big help from trading and holding Bitcoin and until now Bitcoin is still a big help for poor people, these people are bounty hunters and freelancers, and of course investors, Bitcoin has created thousands of jobs for people, I will be still working in a factory if I have not stumble Bitcoin, I owed a lot to Bitcoin and Cryptocurrency.

I'm pretty interested on how Bitcoin did reach to you if you're that one of the below average people in the economy...
I also wonder how can you keep being online in this kind of times, as I'm well aware that if we say "poor" that means they really are helpless...
So would you mind sharing your story?

^ Actually, I have got what you mean for. People that can afford to connect to the internet and a gadget to use, they just not poor people. They belong to the middle-class people because when we are talking a poor people, that is completely helpless, homeless and most of them are uneducated people of did not computer literate. That is a true poor people and I think the term "poor" is not suitable for holding BTC. Nevertheless, I agree if OP will say that it will help to boost your financial status.

[Smartprofit]

In my opinion, Bitcoin cannot help the poor. 

Poverty is, on the one hand, the strength of external circumstances (unequal starting conditions), on the other hand, it is erroneous beliefs, laziness, lack of education.  If a person does not have the desire to learn and overcome life obstacles, then Bitcoin will not be able to improve his social and property situation. 

Bitcoin is a virtual decentralized money that allows transactions without intermediaries.  Not everyone needs it.

[cabalism13]

I am one of those poor people who benefited and got big help from trading and holding Bitcoin and until now Bitcoin is still a big help for poor people, these people are bounty hunters and freelancers, and of course investors, Bitcoin has created thousands of jobs for people, I will be still working in a factory if I have not stumble Bitcoin, I owed a lot to Bitcoin and Cryptocurrency.

I'm pretty interested on how Bitcoin did reach to you if you're that one of the below average people in the economy...
I also wonder how can you keep being online in this kind of times, as I'm well aware that if we say "poor" that means they really are helpless...
So would you mind sharing your story?

^ Actually, I have got what you mean for. People that can afford to connect to the internet and a gadget to use, they just not poor people. They belong to the middle-class people because when we are talking a poor people, that is completely helpless, homeless and most of them are uneducated people of did not computer literate. That is a true poor people and I think the term "poor" is not suitable for holding BTC. Nevertheless, I agree if OP will say that it will help to boost your financial status.

Indeed, as IMO  people who can afford to buy gadgets and freely use an internet are already considered  as an average living person, also something to add, well not all poor people are homeless, I'd rather not classify all of them as homeless.
So to sum up, I don't  think BTC can somewhat engage to people, besides it's sole purpose was the opposite of the banking system...

[youdacapt]

In my opinion, Bitcoin cannot help the poor. 

Poverty is, on the one hand, the strength of external circumstances (unequal starting conditions), on the other hand, it is erroneous beliefs, laziness, lack of education.  If a person does not have the desire to learn and overcome life obstacles, then Bitcoin will not be able to improve his social and property situation. 

Bitcoin is a virtual decentralized money that allows transactions without intermediaries.  Not everyone needs it.

After reading about effects of bitcoin in Africa; and also the after effect after it got banned in India and Bangladesh; i have to conclude that bitcoin helps the poor. In countries with poor gdp and high rate of unemployment; crypto currency has been a direct source of employment for people; through writing, promotions, video marketing and more; it has even improved the lives of many; taking bitcoin away from such people only make them poorer. so yes bitcoin helps alot

Also; poverty is not about laziness or lack of education; a government policy can send a rich man business into ruins and poverty.

[oHnK]

In my opinion, Bitcoin cannot help the poor. 

Poverty is, on the one hand, the strength of external circumstances (unequal starting conditions), on the other hand, it is erroneous beliefs, laziness, lack of education.  If a person does not have the desire to learn and overcome life obstacles, then Bitcoin will not be able to improve his social and property situation. 

Bitcoin is a virtual decentralized money that allows transactions without intermediaries.  Not everyone needs it.

After reading about effects of bitcoin in Africa; and also the after effect after it got banned in India and Bangladesh; i have to conclude that bitcoin helps the poor. In countries with poor gdp and high rate of unemployment; crypto currency has been a direct source of employment for people; through writing, promotions, video marketing and more; it has even improved the lives of many; taking bitcoin away from such people only make them poorer. so yes bitcoin helps alot

Also; poverty is not about laziness or lack of education; a government policy can send a rich man business into ruins and poverty.

I don't think that Bitcoin will really help poor people in Africa. In fact, even though there is Bitcoin there, the per capita income level of the African population has not increased significantly. Those who are successful in using Crypto are not really poor people, but rather become middle-class people. How do you say Bitcoin really helps the poor. I can't think about it yet. Try to straighten out this thought first based on data and facts that are clear and detailed, not just opinions. Because anyone can have an opinion, right? However, if the opinion is accompanied by data, it might be more interesting.

[South Park]

Bitcoin can help the poor? I think of course it can...
in some countries, the value of Bitcoin against their currency is very large, for example in African countries. if we look at the current value of Bitcoin against USD then it is very large if we use it in an African country.

It is possible but at the same time the price of bitcoin is growing up so rapidly that the fees you need to pay just to move your money are several times higher than what some people earn in a full day of work, so for those people it may be a better idea to begin with other coins that are not bitcoin with the hopes they are part of a good project from the start and they earn money that way, because we have to be honest, staring out from scratch right now with bitcoin is way more harder than what it was just a few years ago.

[AndySt]

Bitcoin can help the poor? I think of course it can...
in some countries, the value of Bitcoin against their currency is very large, for example in African countries. if we look at the current value of Bitcoin against USD then it is very large if we use it in an African country.

It is possible but at the same time the price of bitcoin is growing up so rapidly that the fees you need to pay just to move your money are several times higher than what some people earn in a full day of work, so for those people it may be a better idea to begin with other coins that are not bitcoin with the hopes they are part of a good project from the start and they earn money that way, because we have to be honest, staring out from scratch right now with bitcoin is way more harder than what it was just a few years ago.

This happens in any area of business, when early players and investors get much more than those who joined later. This is how many large fortunes are made, however, for one such large fortune there are dozens and hundreds of losers who were unlucky and they either simply went bankrupt or simply could not justify their own hopes and the hopes of the invested investors.

[SirLancelot]

Just as Bitmover said, it’s helping the mid-class people, and I will also add that it is helping the rich to get richer. And the point where you said that it provides a means of income, do you mean as an investment? If that’s what you mean, then, because it provides a means as an investment. If not that, I don’t see any other means.

Some will say that it is free money, but I don’t agree with those words. The only way it can be free is through faucets, but you and me knows very well that you’re not going get anything meaningful through that.

[judeafante]

People ask why they should buy and support bitcoin.

One good reason.

Bitcoin helps the poor.  

#1  BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

#2  BTC allows immigrants to send money to families back home  Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

#3  BTC empowers nations with troubled economies like africa, the philippines and venezuela  It provides a means of income to help stabilize dwindling economies like venezuela's. Provides options and opportunities to those in africa and the philippines.

There are other examples but I think people might get the gist of this without them.

Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

Point two and three is very true, not only Bitcoin but all the other Cryptocurrency can be used to send and receive and trade their Cryptocurrency to fiat, it's really a big help there are a lot of documents needed and the fee is very high for a small amount, on point number 3 people on weak economy but with strong Cryptocurrency are helping people involve in Cryptocurrency through trading and bounty campaign.

[cabalism13]

Some will say that it is free money, but I don’t agree with those words. The only way it can be free is through faucets, but you and me knows very well that you’re not going get anything meaningful through that.

Quite indeed, but still faucets are now just a mini game IMO, it doesn't  give you that much especially now. For how many sats will be there for each roll now? 1- 10? LoL. I don't  think anyone will try to consider this as an opportunity as to be considered as free money LoL. So yes, it's  worthless now, just helps you to kills some time.

[just_Alice]

Those are good points, especially the third one. Indeed, as surprising as it might be, Africa countries like Nigeria and Kenya are some of the top Bitcoin holders. Plus with the recent Jack Dorsey proposal of Bitcoin Development Trust for Africa and India, these regions will be able to benefit from cryptocurrencies and improve their economy even more.

However, I'm not sure about this one:

#1  BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

In order to use Bitcoin, you've got be able to afford a smartphone or a laptop, have enough funds to pay for recurrent high transaction fees, and if you have sufficient funds for that, you'll most certainly qualify for at least a few bank accounts in your country, IMO.

[bits4books]

I'm sorry, but these points are sucked out of the finger. With the same success I can write that "Bitcoin is helping the criminals."

#1 BTC is Hard to Track
Which allows the criminal world to use it and other coins for their "black" calculations so as not to use fiat money.

#2 BTC allows you to Sell Illegal Goods
Thanks to the anonymity of BTC and mixer services, you can safely buy drugs/weapons/prohibited substances and so on on the black market and at the same time not light up fiat money that is easy to track (easier than cryptocurrencies)

#3 BTC expands the possibilities of the criminal world
Thanks to its decentralization and lack of control, criminals can freely transfer their money between countries without the risk of being noticed by financial supervisory authorities and the police, which greatly simplifies life.

And who's right about that? Do you think that BTC helps the poor, or do I think that BTC helps criminals?

[so98nn]

You have very strong points here. Liked it the way you are imagining bitcoin and poor relationship here. One point to be noted here, people are discussing that if bitcoin is so expensive then how come poor can afford it. Now the thing is you are not abide to buy whole bitcoin but the share of it as per your own capacity. This share can grow tremendously if you hold it wisely.

And what could be the best example other than today’s bitcoin price. It’s massive and it has already made many millionaires today.

The border less transfer is cool thing. It’s very difficulty and expensive task when we do it with traditional banking. It sucks really.

[Rexler]

#1  BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

I totally agree with this, bitcoin provides a fast and transparent banking service for millions of people around the globe, apart from helping the u banked to use banking service, bitcoin has money electronic transactions much more easy and safer, no need to wait for 2-4 business days before the money u sent wil get to the destination, with bitcoin in a matter of minutes(high priority tx) it will reflect in their wallet, which is great waiting 2-4 business days is no longer the faster way to transfer money online, just like when phone texting was invented and killed written letters.

Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

I remembered one time last year when Nigerians were protesting against their government,and the government blocked their fund raising Bank account they switched over and used bitcoin to raise money for food and other stuffs the protesters needed to keep the protest going until their demands are met by the government.

[Nolimitz84]

People ask why they should buy and support bitcoin.

One good reason.

Bitcoin helps the poor.  

#1  BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

#2  BTC allows immigrants to send money to families back home  Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

#3  BTC empowers nations with troubled economies like africa, the philippines and venezuela  It provides a means of income to help stabilize dwindling economies like venezuela's. Provides options and opportunities to those in africa and the philippines.

There are other examples but I think people might get the gist of this without them.

Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

If we consider bitcoin as an abstract substance, then yes, it can help the poor. If we look at bitcoin in the current phase of its development, we can conclude that no one is specifically engaged in charity with the help of bitcoin. The potential of bitcoin is certainly huge and this is confirmed by today's price - $ 56,000. History is being made before our eyes.

[nicecrypto]

People ask why they should buy and support bitcoin.

One good reason.

Bitcoin helps the poor.  

#1  BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

#2  BTC allows immigrants to send money to families back home  Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

#3  BTC empowers nations with troubled economies like africa, the philippines and venezuela  It provides a means of income to help stabilize dwindling economies like venezuela's. Provides options and opportunities to those in africa and the philippines.

There are other examples but I think people might get the gist of this without them.

Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

#1 Even if this is the case, this is a very minute amount of the population cos every one that operates a crypto transaction must have transfer their trading fiat first from their Banks Account.

#2 Little wonder why the Government wants to totally eradicate cryptocurrency

#3 This is my favorite  But also for those that are truly crypto enthusiasts. From the 2020 data, Nigeria ranked highest in crypto trading since the countries Government have not been able to truly provide for the masses by creating jobs but crypto was a way out and has really helped out on that part.     

[Sebas.tian]

Yes, I was one of the poor bitcoin has helped. I started trading with bitcoin with $4k over 6 years, when i was  a fresh graduate who was searching for job opportunity but job was not yet coming at then. To God be the glory between 3 to 4 I was trading with bitcoin, i became a millionaire from my investment .
Bitcoin is still helping more poor people in the country, who are ready to know all about cryptocurrency and how someone can use it to enrich his self in the country. Many government that legalized cryptocurrency in their country  has done everything possible to create a conducive environment for their citizens to become a rich men in the country.

[Peanutswar]

I remember about a man who invested in the bitcoin and he holds this coin for a long time and when he thinks this is the right time to make a pull out he gives himself a note to help other people with this income which is a good thing because for this simple life it's quite hard to survive if you don't have any jobs just to sustain all of your needs. I can't find out where I saw that but still, this is a good move to help with the use of the bitcoin.

[FlightyPouch]

I remember about a man who invested in the bitcoin and he holds this coin for a long time and when he thinks this is the right time to make a pull out he gives himself a note to help other people with this income which is a good thing because for this simple life it's quite hard to survive if you don't have any jobs just to sustain all of your needs. I can't find out where I saw that but still, this is a good move to help with the use of the bitcoin.

Here's the thing about poor people. When you give them something like food, they will immediately consume that because they are not like those people that have something to spend and they can save that food. In terms of bitcoin or money, when you give it to them they will use it because they don't have enough money to use for their essentials.

I agree that it will help the mid-people especially the rich but in terms of poor people, I mean the poor people, I don't think so.

[konflikkastil]

I also have my share of how BTC and other coins has been of help to me to help sort most of my immediate needs and making me to have more to save, spend and also to invest again. I started with less $500 and with my continu- ous persistent I never give up and now. It has paid big time for me. But I want us to know that this BTC helping the poor is not an over night thing, it is never going to happen in just a day. It takes weeks, months and sometim- es years before you can achieve that, but you have to dete- termine never to give up. That is the most important thing.

[Dragonfund]

Bitcoin doesn't just help the poor, it elevate the poor from their little state of mind and bring them to the state of rich. Imagine buying Bitcoin around $100 for the last 8 years and then you wake up from plumber and then realize that a pair worth about $40k. The joy within you will have no bound. That's why, it's advisable to diversify a portfolio because you never know which one that will outperform the other.
I am also an example, if not holding of bitcoin, trading and doing freelance as a job for my self, I don't know where I would have been for the past 3 years but despite the difficulties, the downtrend, we are still here waxing stronger and hoping for better days ahead.

[Snappycoco]

Very poor people doesn't have the tools to know bitcoin. I don't think they know this technology as well as giving them the chance to adopt. I believe this

#2  BTC allows immigrants to send money to families back home  Immigrants from Cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

is for those low income OFW's who doesn't want to have that big fees from remittance centers. Furthermore, BTC has helped the middle income earners than those who literally have nothing.

[blackened515]

Yes, I was one of the poor bitcoin has helped. I started trading with bitcoin with $4k over 6 years, when i was  a fresh graduate who was searching for job opportunity but job was not yet coming at then. To God be the glory between 3 to 4 I was trading with bitcoin, i became a millionaire from my investment .

That's a great news to hear from your step by step investment plan, but do you know the poor can't afford to start with $4k as you did? Of course that's a big amount of money, if the poor can start performing some micro task like airdrop and bounties, it'd would be more better for them to go far as you did, so basically, bitcoin is for those with little sum of money and must have had knowledge about it.

[Swordsoffreedom]

There is no room for doubt that Bitcoin, directly and indirectly, helps the poor. I know many students who have invested in Bitcoin and they are managing their tuition fees by investing in it Bitcoin. I have even informed many jobless people about Bitcoin and made them interested in investing in it. They have invested in BTC and are now bearing the cost themselves. Which has resulted in the financial development of their families. Their dignity in society has improved a lot. Social development occurs only when the quality of life is improved. The effect of which can be seen on all the rich and poor people of the society.

[Twentyonepaylots]

Bitcoin is generous to those able to invest in it, and in the case of the impoverished, we are not really sure if they are benefitting from bitcoin since most of them will focus on fulfilling their essentials rather than these things. Still, I believe that with bitcoin's high purchasing power, it will be veey beneficial to everyone when globally adopted.

There is no room for doubt that Bitcoin, directly and indirectly, helps the poor. I know many students who have invested in Bitcoin and they are managing their tuition fees by investing in it Bitcoin. I have even informed many jobless people about Bitcoin and made them interested in investing in it. They have invested in BTC and are now bearing the cost themselves. Which has resulted in the financial development of their families. Their dignity in society has improved a lot. Social development occurs only when the quality of life is improved. The effect of which can be seen on all the rich and poor people of the society.

You have a point, but I think what OP meant when he said "poor" are those who are at the lowest echelons of our society, not those who are relatively able to invest some of their finances in bitcoin.

[sniveel]

Poor people in poor countries don't have any knowledge or information about bitcoin or other cryptocurencies. It helps with those people who have the power to invest on it but I am not saying that it can't really help. People can do bounties or join programs which can they earn rewards such as btc, eth, and tokens without any funds to invest.

[Twinkledoe]

There is no room for doubt that Bitcoin, directly and indirectly, helps the poor. I know many students who have invested in Bitcoin and they are managing their tuition fees by investing in it Bitcoin. I have even informed many jobless people about Bitcoin and made them interested in investing in it. They have invested in BTC and are now bearing the cost themselves. Which has resulted in the financial development of their families. Their dignity in society has improved a lot. Social development occurs only when the quality of life is improved. The effect of which can be seen on all the rich and poor people of the society.

And I believe not only investing in bitcoin, but just look at here in the forum alone. Don't go too far. These bounties, whether btc-paying or token-paying campaigns, I believe, a lot of people are benefitting from it, whether you are in third world or first world countries, or you are poor or in the middle class status. I have seen here that a lot of these bounty hunters, they are like, it is their main source of income already especially during this pandemic.