Does Bitcoin Help The Poor

[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.