Does Bitcoin Help The Poor

[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.

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[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.