Does Bitcoin Help The Poor

[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.

[1714496514]

1714496514

[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.