Does Bitcoin Help The Poor

[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.

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[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.