Bitcoin Gives the poor an Opportunity.

[fullhdpixel]

Who is the poor?

Can we say that somebody who has some extra savings, albeit small, is poor? Or should we exclude them from such category because, in the first place, he/she has an amount to invest?

I'm certainly not rich, but sometimes I feel a tinge of embarrassment whenever I classify myself as poor because I know that there are people out there who cannot even eat 3 times a day, and yet I have so much more.

My point is that Bitcoin might not actually give the poor an opportunity, at least in this discussion's context.

Maybe those who don't eat 3 times a day are on a diet? XD but I know some are just poor. There are people who are rich but won't admit it. I don't know if they are only humble or afraid that someone will do a harm on them. For those people who like you said are not rich (don't have a mansion and luxurious cars) but only has a small savings. They are still poor although not in an extreme level.

I think we can also call them as a middle-class person. No matter what your status are, Bitcoin is created for all. It gives us an opportunity to make more money or to experience on what it looks like to be free from these centralized shits around us.

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[serjent05]

We need to first understand that Bitcoin was not created as an investment scheme rather a decentralised mode of current where you can hold asset and transfer it without any involvement of government or financial institution but since it has changed as an investment scheme and people rarely use bitcoin as a mode to transfer funds due to various reasons like speed, transaction fee and all it has been completely look at as any other investments like stocks and I don't agree with your opinion as poor will still not have money to invest into Bitcoin and incase of they invest and run into bear market then they have to wait for years to get it back or else simple sell it at loss. Poor and investment angle doesn't sync in Bitcoin or any other crypto.

Bitcoin does not change as an investment scheme, when Bitcoin is created as P2P digital currency, it is packaged with different things, Bitcoin can still be used as currency and it is functioning fine as it is.  It never changes to investment, an asset, or a commodity because these things are packaged when BTC is created. 

Poor people may have difficulty in investing in Bitcoin due to their lack of source of funds but they have access to Bitcoin if they prioritize investing in Bitcoin rather than feeding themselves and their family.

[Blitzboy]

We need to first understand that Bitcoin was not created as an investment scheme rather a decentralised mode of current where you can hold asset and transfer it without any involvement of government or financial institution but since it has changed as an investment scheme and people rarely use bitcoin as a mode to transfer funds due to various reasons like speed, transaction fee and all it has been completely look at as any other investments like stocks and I don't agree with your opinion as poor will still not have money to invest into Bitcoin and incase of they invest and run into bear market then they have to wait for years to get it back or else simple sell it at loss. Poor and investment angle doesn't sync in Bitcoin or any other crypto.

I understand Bitcoin's original purpose and your concerns are valid. Bitcoin, a decentralized currency that symbolises financial freedom and independence from established institutions, has been kidnapped by investors. Its currently more known as a gold-like asset to hoard than a currency.

Lets address your issue regarding the poor not investing in Bitcoin. Indeed. Using Bitcoin as an investment instead of a transactional currency marginalizes those without enough capital. The truth is painful, but we must accept it.

In a bear market, Bitcoin investors with low funds could lose everything. Its disturbing that the wealthiest keep becoming richer while the poor get worse. I recognize the serious issues here and the need for financial awareness and caution, especially for the poor.

[Nrcewker]

Not only poor but also each and every status of people, Bitcoins provide equal amount of opportunities. These people should know that Bitcoins are rare and fixed in supply. This only signifies that in a longer run, when the demand to accumulate the coin will increase, there will be scarcity of coins, so the price will go up. So whenever the price comes down, just buy the coin irrespective of price, and do long term investment. Opportunity comes very rarely, do make the most profit out of it.

[posi]

Not only poor but also each and every status of people, Bitcoins provide equal amount of opportunities. These people should know that Bitcoins are rare and fixed in supply. This only signifies that in a longer run, when the demand to accumulate the coin will increase, there will be scarcity of coins, so the price will go up. So whenever the price comes down, just buy the coin irrespective of price, and do long term investment. Opportunity comes very rarely, do make the most profit out of it.

The potential of bitcoin is undeniable, but the problem for poor people is whether they can buy bitcoin or not. Many people in the third world cannot even have enough main meals during the day so investing in bitcoin is impossible for them. But bitcoin actually gives them an opportunity over other assets because they can start investing in bitcoin with whatever savings they have. It does not require too much money like other investments. Furthermore, accumulating little by little is also something that other assets cannot do better than bitcoin.

[NotATether]

uneducated person may don't know what bitcoin is.

Not true, I am an example of uneducated person, but I know bitcoin, actually bitcoin ( especially this forum, altcoins, ICOs, other scam, pyramid, ponzi ) attract all the poor people, I wasn't poor, just unaware of the concept of ponzi, so years ago I participated in a few of them thinking those who call it scam are competitors so I ignored the warnings and paid the price by handing them my money.

Yeah this whole uneducated thing is nonsense. Everyone's going to learn whatever they want from the internet and believe in whatever opinions are being written on the internet whether or not they have gone to school.

[Questat]

Unfortunately, most poor people don't have the courage and capabilities to put their money at risk. Indeed, it was a great opportunity for them and for everyone but can urge them to consider investing in Bitcoin, they also have some priorities in life more than making an investment. Most of them are financially illiterate and there is no other thing on their mind but to just survive and be content with what they have now.

Investment needs money and the poor don't have that much start(I'm talking about those who are really poor). A reason why we can hear that Bitcoin is only for rich people.

[KiaKia]

If it's this easy like you've said, everyone would have invested in Bitcoin right now, it's true that Real estate and stocks requires more money to make profit, but money is why many aren't into Bitcoin yet, apart from the haters that believe Bitcoin will fail one day, there are still many people that can't afford to invest even $10 into Bitcoin, the condition of your country can be easier than the condition of other countries, people are really lamenting in today's world.

I was a poor guy too, I came from a poor home, my parents are not completely poor but we are rated average, we eat twice daily while some families eat three times daily, I slowly get myself up with crypto and that through airdrop, mining and claiming faucets around the clock, today it's hard to make money free from crypto.

Now it's better to learn a skill and use that to progress online or offline, everyone conditions are different, poor people can't come near any investment idea, to them they only want to survive and eat some food every day, if you talk to them about investment they won't listen to you, it's the least of what they want right now.

Investing money is still very risky and to play such risks you need good capital, that's why many are advancing people to only invest what they can afford to lose, the poor don't have the money that they are ready to lose.

[red4slash]

Unfortunately, most poor people don't have the courage and capabilities to put their money at risk. Indeed, it was a great opportunity for them and for everyone but can urge them to consider investing in Bitcoin, they also have some priorities in life more than making an investment. Most of them are financially illiterate and there is no other thing on their mind but to just survive and be content with what they have now.

Investment needs money and the poor don't have that much start(I'm talking about those who are really poor). A reason why we can hear that Bitcoin is only for rich people.

Yes, that's right, not without reason because they will definitely prefer to fulfill their needs for today. I don't think they're unwilling to do that, but it's a very heavy sacrifice they have to make. I think they will also be happy to invest if their economic situation is relatively good. But that's not the case, sometimes they have to think about tomorrow. Especially now in a situation where almost everything is experiencing price hikes, of course it will make it more difficult for them.
They are not unwilling, but circumstances make it difficult to start investing.

[albert0bsd]

Yeah this whole uneducated thing is nonsense. Everyone's going to learn whatever they want from the internet and believe in whatever opinions are being written on the internet whether or not they have gone to school.

@NotATether  I totally agree with you, that everyone with a minimal education and internet access can learn anything that they want, all depends of their willness and motivation.

I was talking of really iliteracy people, those who can't read or write

https://worldpopulationreview.com/country-rankings/literacy-rate-by-country

The relationship between literacy and poverty
Poverty and illiteracy tend to go hand-in-hand. Education is often less available in poverty-stricken areas. Moreover, even when education is available, a struggling family might need their children to work and earn money instead of going to school. Most of the countries with the lowest literacy are located in South Asia, West Asia, and sub-Saharan Africa—regions which also include most of the poorest countries in the world.

Of the roughly 781 million adults worldwide who cannot read or write, nearly two-thirds are female.

But i don't think that it is a "nonsense"

Not true, I am an example of uneducated person, but I know bitcoin

@digaran at least you have access to internet also you know how to read and write right? My point was for people who don't even know how to read, those are clear uneducated.

https://www.zippia.com/advice/how-many-people-use-the-internet/#:~:text=38%25%20of%20the%20world's%20population,the%20internet%2C%20As%20of%202022.

38% of the world’s population still doesn’t use the internet, As of 2022.

[Out of mind]

Bitcoin is basically created for everyone rich and poor everyone can use it, everyone has the opportunity to use Bitcoin. People who use Bitcoin invest in the hope of profiting from it, and Bitcoin investment does not require anyone's permission, Bitcoin is open to everyone, and Bitcoin is an independent currency that everyone can use for their needs. If an investor holds on to Bitcoin for a long period of time, then good profits await him in the future. If there is a fraction of bitcoins, then surely you will be able to earn from it at one time. And of course, if you want to invest, you should never do it without understanding, but you should make a good decision and refrain from investing in altcoin. And for the long term, it is definitely safe to invest in Bitcoin there.

[CarnagexD]

Unfortunately, most poor people don't have the courage and capabilities to put their money at risk. Indeed, it was a great opportunity for them and for everyone but can urge them to consider investing in Bitcoin, they also have some priorities in life more than making an investment. Most of them are financially illiterate and there is no other thing on their mind but to just survive and be content with what they have now.

Investment needs money and the poor don't have that much start(I'm talking about those who are really poor). A reason why we can hear that Bitcoin is only for rich people.

Bitcoin gives opportunity to the poor but not everyone grabs it or can grab it even. Its value swings like a rollercoaster so if you're struggling to make ends meet, you might not want to risk what little money you have on something so uncertain.

But maybe we can break the connotation that bitcoin is only for rich people, its for people from different financial backgrounds who have the knowledge, the access access to tech, and the money that they can afford to lose.

[JunaidAzizi]

Bitcoin can be both a currency and an investment

Bitcoin was created for both the poor people and the rich and both take advantage of it. There is a wrong concept or simply rumors about Bitcoin that you can't invest a small amount in Bitcoin instead if you have a small investment then do invest it in some other works because Bitcoin needs a large investment. This is totally a wrong concept you can invest even a small fund in bitcoins and it is possible, that making a small investment will give you a small return and have low risk. The risk is not only related to Bitcoin but also to the real state. What if you invest in a real state and a neutral disaster comes which has always the chance of coming so risk may be involved in both? you can invest in Bitcoin and at the same time you can use it as a payment system and this makes Bitcoin different and unique. Not others have such special features as Bitcoin.

[Salahmu]

Yeah sure there are lot of opportunities offered by Bitcoin but there are factors that could prevent the poor from utilizing the opportunity offers by Bitcoin because one thing is the opportunity and the next thing is the capital or funds to utilize it, because there are people that wish to come into Bitcoin but lack the funds and in most cases even when they manage to invest a little they have it could take time for them to start seeing a profit because of how small there investment is and if at some point the price moves against them they could feel very bad were as there means of surviving depends on the profit they will make from there, so that's why most poor people sees Bitcoin as a rich men investments because is only people that has money that invest huge  and expect a greater returns.

[carlfebz2]

Unfortunately, most poor people don't have the courage and capabilities to put their money at risk. Indeed, it was a great opportunity for them and for everyone but can urge them to consider investing in Bitcoin, they also have some priorities in life more than making an investment. Most of them are financially illiterate and there is no other thing on their mind but to just survive and be content with what they have now.

Investment needs money and the poor don't have that much start(I'm talking about those who are really poor). A reason why we can hear that Bitcoin is only for rich people.

Bitcoin gives opportunity to the poor but not everyone grabs it or can grab it even. Its value swings like a rollercoaster so if you're struggling to make ends meet, you might not want to risk what little money you have on something so uncertain.

But maybe we can break the connotation that bitcoin is only for rich people, its for people from different financial backgrounds who have the knowledge, the access access to tech, and the money that they can afford to lose.

Sometimes, the biggest hindrance on why people dont really make themselves progressive is on the time that they do really just tolerate that kind of mindset on which its not really true or not with those facts.

Bitcoin is for rich people? No its not and if you are really just that been wary on how you could really be able to deal with it, then you could really be able to take advantage and if you are good enough then you could really be able to make money or profits if you are really that good on doing it but of course it would really be just only into those people who are really that serious on towards progressing their lives
and this is why they do really take out this action. Its true that it does give out that kind of opportunity but it would really be just depending or according on how well you do deal towards it.

Dont make yourself that too much desperate because it would really be just creating that kind of impulsive approach on which we know that this isnt something that recommended on
doing so because on the time that you would really be like this, then you are really that prone to errors.

[Renampun]

I don't really agree with the statement 'bitcoin makes the poor rich' but I agree with the title of your topic 'bitcoin gives opportunities to the poor'

with the increasingly limited number of bitcoins and also the increasing price, the number of poor people who are interested in buying bitcoins is small, but if they have a strong intention to change their fate, then buy bitcoins regularly and use bitcoins as an investment, then they are doing the right thing, but I doubt they would do that, usually poor people care more about what they eat today than what they will eat next year.

[AakZaki]

I don't really agree with the statement 'bitcoin makes the poor rich' but I agree with the title of your topic 'bitcoin gives opportunities to the poor'

with the increasingly limited number of bitcoins and also the increasing price, the number of poor people who are interested in buying bitcoins is small, but if they have a strong intention to change their fate, then buy bitcoins regularly and use bitcoins as an investment, then they are doing the right thing, but I doubt they would do that, usually poor people care more about what they eat today than what they will eat next year.

Bitcoin is synonymous with new financial transaction technology. Actually, I think the author said it could happen. Because many people have changed with their economic situation after getting to know bitcoin. But I think it's not much, I agree with you poor people tend to think about meeting basic needs only. So their mindset is that maybe to live 1 day is very difficult and a little impossible to set aside money for Bitcoin. There are other contributing factors that have to be met and I think that's hard to happen.

[oktana]

If we want to be honest, you can buy a small amount of shares if you want. Also, just like you need a lot of money to make a good profit from these shares, you need the same for Bitcoin because if you buy for let's say $100, you won't see any super impressive amount either. It isn't magic over here, I most times like to think that Bitcoin simply brought transparency.

[JohnBitCo]

Poor people may have difficulty in investing in Bitcoin due to their lack of source of funds but they have access to Bitcoin if they prioritize investing in Bitcoin rather than feeding themselves and their family.

Absolutely, Bitcoin gives the opportunity to earn not only for poor people, it gives everyone the opportunity to earn.

It doesn't matter that the people who want to invest in Bitcoin he must be rich, poor people can also invest in Bitcoin (with less money) , but invest money that you can easily afford.

[RockBell]

Not only poor but also each and every status of people, Bitcoins provide equal amount of opportunities. These people should know that Bitcoins are rare and fixed in supply. This only signifies that in a longer run, when the demand to accumulate the coin will increase, there will be scarcity of coins, so the price will go up. So whenever the price comes down, just buy the coin irrespective of price, and do long term investment. Opportunity comes very rarely, do make the most profit out of it.

bitcoin is an open market that is open to any kind of individual, and it involves capacity and willingness because not every person who has the capacity has the willingness to buy so it is all a matter of choice and interest, bitcoin is not even rare since is very much available for everyone in the market and the only thing I see is that is better to know the exact period of time to buy so that you don't buy when the price is high so that the profit will be of value to you when you buy when the price is low. if the investor can key into holding for a long then some tests have been passed then.

The potential of bitcoin is undeniable, but the problem for poor people is whether they can buy bitcoin or not. Many people in the third world cannot even have enough main meals during the day so investing in bitcoin is impossible for them. But bitcoin actually gives them an opportunity over other assets because they can start investing in bitcoin with whatever savings they have. It does not require too much money like other investments. Furthermore, accumulating little by little is also something that other assets cannot do better than bitcoin.

The question you asked if the poor can buy Bitcoin hope you did not forget that you can buy in fractions until your desired goal is reached but the problem I feel most of us have is our act of disbelief they feel everything is a scam has far its coming from online but that is a very wrong mentality.  and adding to what you said about bills majority of us have a bunch of bills to deal with but sometimes with proper planning. standard of living is damn high to even keep up with, and that is the sweetest part about Bitcoin with some amount of money you will own your own bitcoin.