Can Bitcoin help?

[Smack That Ace]

The rate of poverty across the globe is becoming worrisome. Many people are continually crossing below the poverty line to the state of depression. I was heartbroken seeing the number of people struggling to enter the US as  shared by Elon Musk in X. Weather we choose to believe it or not, there is an impending global problem that if concerted effort is not put at addressing, there will be chaos. Is there anyway Bitcoin can assist in addressing this?

I know many will think investment in Bitcoin is reserved exclusively for the rich or those who are comfortable; the lower class can actually buy as little as $10 per week. Majority of these immigrants are farmers that the quest for greener pastures pushed into these journeys.  They can actually start small and build from there. Same goes for many people across the globe.

Bitcoin offers unique opportunities for people who want to make decent amount of money and I have the feeling that if these people start investing in Bitcoin, we will see a rapid decline in global poverty.  What do you think?

Do you mean bitcoin can help reduce poverty rates or will it eradicate poverty? Do you think making money from bitcoin is easy? Although the price of bitcoin keeps increasing every year, so far not everyone has changed their lives, not everyone has profited from it, and the number of losers is more than the number of winners. So do you think it will help alleviate poverty?

Bitcoin is an investment and there will be risks, winning or losing depends on each person. Bitcoin does not print money to give it to everyone for free, it does not create jobs to help people have jobs to generate income.

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[Sebas.tian]

Yes, Bitcoin can help a nation to eliminate poor economy, if their government can take a good step in this massive inflation that is affecting global economy to create a good environment where citizens can easily learn many things that related to cryptocurrency. There is no way government can grant their citizens access to Bitcoin and cryptocurrency, and their citizens will not be good in long term and short term investment, because that is the major place many cryptocurrency users always use to achieve income from their investment. I came to discovered that Bitcoin has reduced a lot of things in some countries economy that made it legalized in their countries, and it has helped them to introduced foreigners into their countries to boost their economy.

[yhiaali3]

Yes, Bitcoin can contribute to making people's lives better through investing in Bitcoin or through the business that Bitcoin provides on the Internet, ease of payment, etc., but we should not go so far as to say that Bitcoin can eliminate poverty in the world.

This is a huge exaggeration. Do not forget that the poor people you are talking about live in a poor country and primitive areas that do not have the slightest infrastructure suitable for working or investing in Bitcoin. These poor areas do not have the Internet or perhaps even electricity, and people suffer from poverty and ignorance and do not know anything about Bitcoin, so how can Could Bitcoin be a reason for eliminating poverty there?

[laurenB7742]

Yes, Bitcoin can help a nation to eliminate poor economy, if their government can take a good step in this massive inflation that is affecting global economy to create a good environment where citizens can easily learn many things that related to cryptocurrency. There is no way government can grant their citizens access to Bitcoin and cryptocurrency, and their citizens will not be good in long term and short term investment, because that is the major place many cryptocurrency users always use to achieve income from their investment. I came to discovered that Bitcoin has reduced a lot of things in some countries economy that made it legalized in their countries, and it has helped them to introduced foreigners into their countries to boost their economy.

El Salvador has been accepting bitcoin as legal tender for the past two years, although it is still early to say that the country has failed to accept bitcoin. But do you see economic improvement or people's lives getting better when bitcoin is accepted there? Bitcoin is just an investment, it cannot help a country's economy reduce inflation or help that country's economy grow if it only relies on bitcoin. Bitcoin is not a panacea for the world, we should not exaggerate everything about bitcoin.

[Ruttoshi]

It is only the government that can uplift people from poverty and not bitcoin, this is because anyone that want to really benefit from bitcoin must take a long time before he can see his profit, since bitcoin is a long term investment for you to make profit from it. You don't think that the poor ones that hardly eat well in a day will be able to invest into bitcoin and wait patiently to reap their profit when they don't have what to eat.

The people that are making profit from bitcoin are traders and people that earn in bitcoin and I don't that a poor man can go into trading that is very risky and can make one loss all his bitcoin if he makes a wrong decision. It is unethical to advise newbies or people who are managing to invest in bitcoin to jump into trading without any skill because they will end up at loss.

Mining is very expensive due to the cost of electricity and it needs good capital to start with, and if you are not careful, you might run at loss. Hodli needs patience and you must have cash reserve or cash inflow in other to be successful as a hodler, if not you might end up selling when it is not at your will.

[michellee]

Bitcoin can help from the investment side. If a lower class person can only invest in Bitcoin at $10 per week, they can have their investment and should be able to be patient for a few years. Investing in Bitcoin cannot provide profits in the short term but can provide benefits in the long term. The problem is, can they be patient and wait until the value of their investment increases?

It all starts with small things. Bitcoin might be one solution to overcome poverty by investing. But before investing in Bitcoin, they must understand it by studying it.

But the reality is that there are still many people who don't even know Bitcoin. They still have difficulty meeting their daily needs and may not be able to allocate a certain amount of money to invest in Bitcoin. This is what they must understand so that they can open their minds to start investing in Bitcoin.

[komisariatku]

Bitcoin offers unique opportunities for people who want to make decent amount of money and I have the feeling that if these people start investing in Bitcoin, we will see a rapid decline in global poverty.  What do you think?

Bitcoin is not a miracle that can help everything, including poverty. Bitcoin is digital money or digital assets, nothing more than that. Maybe investing in bitcoin will provide profits but you definitely know that the price of bitcoin is very volatile, so there is no certainty that we will make a profit when investing in bitcoin, in the long term the profit is likely to be higher but in the short term it is very risky

So poverty and bitcoin are two different fields. It would be more logical if we gave him a donation to help provide them with food, introducing bitcoin is not a solution for people who have no money or jobs.

[Tony116]

Yes, Bitcoin can contribute to making people's lives better through investing in Bitcoin or through the business that Bitcoin provides on the Internet, ease of payment, etc., but we should not go so far as to say that Bitcoin can eliminate poverty in the world.

This is a huge exaggeration. Do not forget that the poor people you are talking about live in a poor country and primitive areas that do not have the slightest infrastructure suitable for working or investing in Bitcoin. These poor areas do not have the Internet or perhaps even electricity, and people suffer from poverty and ignorance and do not know anything about Bitcoin, so how can Could Bitcoin be a reason for eliminating poverty there?

To be able to invest in bitcoin, they need money and many people don't even have enough money to eat 3 meals a day, where do they get the money to invest in bitcoin? Not to mention, bitcoin does not guarantee profits for anyone, bitcoin not only brings profits but it also has risks involved. For the poor, if there is no knowledge and they invest money they cannot lose, what will happen to them if bitcoin is dumped? Bitcoin is just an investment tool and whether we have the ability to make money on it or not is entirely up to us, bitcoin does not guarantee anything. You're right, many people are over-exaggerating it.

[Natsuu]

I think about it too and ideally speaking, yes. Bitcoin can help poverty. The concept of using bitcoin  to address financial challenges and solve poverty holds promise but it's important to approach it with a realistic perspective. While the idea of using cryptocurrencies for poverty is appealing, it's crucial to address these challenges and implement supportive policies and educational initiatives to maximize their potential benefits. We have to use  cryptocurrencies into a broader strategy that includes education, healthcare and  economic development efforts that  can create a more comprehensive approach to poverty reduction. I mean when you think about it, just the initial investment to bitcoin is out of reach for the poor.

[davis196]

Bitcoin offers unique opportunities for people who want to make decent amount of money and I have the feeling that if these people start investing in Bitcoin, we will see a rapid decline in global poverty.  What do you think?

Bitcoin is a volatile asset and I don't recommend people, who lack financial education to invest in risky and volatile assets.
No, Bitcoin cannot help for ending global poverty. Bitcoin is not some magical financial tool that will bring guaranteed profits and make everyone rich and happy. Trading on the financial markets is a zero sum game. The profits of one trader are the loses of another trader.
Global poverty can be reduced by mass education and mass industrialization of the underdeveloped countries. This would be a double edged sword for the developed countries, because they will have to compete with industrialized underdeveloped countries, where the cost of labor is lower.

[legendbtc]

Bitcoin offers unique opportunities for people who want to make decent amount of money and I have the feeling that if these people start investing in Bitcoin, we will see a rapid decline in global poverty.  What do you think?

Bitcoin is a volatile asset and I don't recommend people, who lack financial education to invest in risky and volatile assets.
No, Bitcoin cannot help for ending global poverty. Bitcoin is not some magical financial tool that will bring guaranteed profits and make everyone rich and happy. Trading on the financial markets is a zero sum game. The profits of one trader are the loses of another trader.
Global poverty can be reduced by mass education and mass industrialization of the underdeveloped countries. This would be a double edged sword for the developed countries, because they will have to compete with industrialized underdeveloped countries, where the cost of labor is lower.

The market is a battlefield and bitcoin is also a financial market so it is ignorant to think that investing in bitcoin or bitcoin can help reduce poverty or reduce unemployment. Bitcoin is an asset just like gold or other assets, if it can help reduce poverty by investing in it then other assets and investments can do the same. People should stop being delusional about the power of bitcoin and stop over-exaggerating it as a pair of magic wands that can solve everything in the world.

[jasonjm]

Bitcoin offers unique opportunities for people who want to make decent amount of money and I have the feeling that if these people start investing in Bitcoin, we will see a rapid decline in global poverty.  What do you think?

As a matter of fact, Bitcoin can not decrease global poverty because poverty depends on many factors. Bitcoin alone is not enough to elevate the socio-economic level of the people. Yes, it can help people with their earnings to an extent, but for that, the person should have some amount of savings to start investing. For example, if we talk about less fortunate countries where the daily wages are below 10$, how can one expect an investment into BTC from them?
I am of the opinion that only a privileged few from those countries will be able to invest in Bitcoin.   

DCA is a very good option, as you suggested. This way, it will not burden the individual, and he will have some investment for the future. But, for that, the person should be earning more than his needs. 

[lovesmayfamilis]

Why do some people have such hope in Bitcoin? Asking such questions in our time and claiming that Bitcoin is a panacea for poverty is no longer modern. We need facts and evidence, not isolated cases, so that we can assume that Bitcoin saves us from poverty and, in general, from all universal ills. Essentially, what happens is that where poverty is prevalent, there is also a lack of education. How can people invest anything if they have neither a job nor a normal means of livelihood? If their only goal is to eat normally and feed their family, It is simply impossible to make such people wait for a “miracle day,” after which they will become rich.

[CryptopreneurBrainboss]

Weather we choose to believe it or not, there is an impending global problem that if concerted effort is not put at addressing, there will be chaos. Is there anyway Bitcoin can assist in addressing this?

Bitcoin is a currency and not a poverty elimination solution, is not everytime we see problem's that has to do with poverty and we immediately think Bitcoin is the solution. Such mentality is why we have many moon boys in the market and they're causing more volatility to the market. Job provisions so those people can take care of themselves in their respective counties is the solution to those migration problem. People also have to be enlightened that they can make money online from any part of the world, they just need the right information as information is power. Them thinking that leaving their country in search of greener pastures in the western world would save them but when they're not equipped with valuables skills they'll still find it difficult in those countries they're running to.

Bitcoin offers unique opportunities for people who want to make decent amount of money and I have the feeling that if these people start investing in Bitcoin, we will see a rapid decline in global poverty.  What do you think?

How do they start investing in Bitcoin when they don't have a job to look after their self and families. What those people need are job creation in their countries but their corrupt government won't provide them with jobs or make the policy of the country company friendly so private companies can pick interest in having branches in their country and provide jobs for their citizens. Nobody should think getting involved in Bitcoin immediately solve their poverty problem, they need jobs that can sustain them during the bearish season of the market so they can keep on holding their Bitcoin to make profits in the future and not looking for short period gain that makes them miss out of future gains.

[pinggoki]

Why do some people have such hope in Bitcoin? Asking such questions in our time and claiming that Bitcoin is a panacea for poverty is no longer modern. We need facts and evidence, not isolated cases, so that we can assume that Bitcoin saves us from poverty and, in general, from all universal ills. Essentially, what happens is that where poverty is prevalent, there is also a lack of education. How can people invest anything if they have neither a job nor a normal means of livelihood? If their only goal is to eat normally and feed their family, It is simply impossible to make such people wait for a “miracle day,” after which they will become rich.

I have to tell you that bitcoin will not be able to help those in the poverty line, unless they have a means to earn bitcoin and they have a phone which I don't think they have since they're trying to survive daily. Those in the poverty line would probably choose a short-term money over what bitcoin offers which is obviously long-term. Bitcoin itself can't do anything but the people that were lucky enough to benefit from the growth of bitcoin has the opportunity to help these people even if it's a temporary help like food packages or paying their rent, you know like what Mr. Beast does in his videos albeit you don't have to film yours since we've got enough poverty porn content creators already. I think that it's one of the ways that you can help impoverished people in your area.

[Rockstarguy]

Bitcoin offers unique opportunities for people who want to make decent amount of money and I have the feeling that if these people start investing in Bitcoin, we will see a rapid decline in global poverty.  What do you think?

Bitcoin offers a better opportunity to those who want elevate to financially,  some people may think to invest in bitcoin is to become rich very  quick but bitcoin doesn't work that way. People can only get a better opportunity in bitcoin if only they understand that they need a source of income and invest it in bitcoin according to what they can afford it will help to fight against poverty but thinking just starting to invest in bitcoin will bring excessive money that will make one to be rich is a wrong thinking. Bitcoin was created as a support, to solve effect of depreciation of traditional currency when store in the bank.

[Z-tight]

Bitcoin offers unique opportunities for people who want to make decent amount of money and I have the feeling that if these people start investing in Bitcoin, we will see a rapid decline in global poverty.  What do you think?

You are totally missing the point about what BTC is, it is not a network created for you to make a decent amount of money or to eradicate poverty in the world, it is because of ideas such as yours that so many people think BTC is a pyramid scheme and therefore a scam, which it is not. BTC is a decentralized and censorship resistant currency that should be used for payments, though it has other use cases and because of its volatility, you can buy it now and sell it later for a higher price, but that is not what it was created for.

Eradicating poverty is to be done by the government, and people can also do better for themselves by acquiring better education and skills, doing more jobs to increase their income, etc; take note that you also need to have a source of income in order to buy BTC, and people who are very poor would not think of buying even a single sat.

[Lorence.xD]

Why do some people have such hope in Bitcoin? Asking such questions in our time and claiming that Bitcoin is a panacea for poverty is no longer modern. We need facts and evidence, not isolated cases, so that we can assume that Bitcoin saves us from poverty and, in general, from all universal ills. Essentially, what happens is that where poverty is prevalent, there is also a lack of education. How can people invest anything if they have neither a job nor a normal means of livelihood? If their only goal is to eat normally and feed their family, It is simply impossible to make such people wait for a “miracle day,” after which they will become rich.

Poverty is not something that Bitcoin can actually solve by itself, this issue should be eliminated by the government as they are the one who have power to put laws and make use of the tax of the country. Bitcoin is just a digital currency where it exist as an alternate to our fiat currency, but due to it's volatility people use it to their advantage to make profit from it, plus it's a decentralized system that government can't control but of course they are free to use it as well. I think this will literally depends on the privileges, cause imagine poor people wanting to escape that life by just barely surviving everyday, where they would find funds to invest in Bitcoin right? They don't have the time to learn, study and find funds for investing, that's why government exist to help them. Unlike to some people who have extra time in their hands as they have financial to support their needs so they can explore into investment. It could help some people as we seen in the forum before, where people use Bitcoin profits to help the poor.

[EluguHcman]

If you're already struggling I don't know if investing in a hugely volatile asset will help.

You are right @ mk4. I have been a practical example of such where I finds it hard to earn living with the gazes at responsibilities on me that are yet to me attended to.
Yet I struggles to survive.
I have heard so much about the potentials to enrichment of Bitcoin then I could Invest the least I had with me hoping to explore over night but reverse was the case where the volatility of the coin was against me and that was the only source I leaned on to minimize my struggle but how could I exercise patient on Bitcoin all at the aiming to have a bull run in the Bitcoin markets while I am starving of hunger? Of course it ended me a regret for putting my cash in am investment that requires me the ability to exercise patient besides... The market values was against my wills then I had to hastenly sell it out before I am total run down all because I am starving and needed something to eat.

[EluguHcman]

The instigation of investing in Bitcoin with whatever amount is not for the struggles who has no other source to obtain their essential commodity needs.
Even though the coin volatility is on the side of a struggling investor, without a bull run, the investor would never be impressed due to the dulling increase in value of the coin which definitely the struggling investor would not have the ability to exercise such patient because survival as staying alive is a first considerations to lives.

Bitcoin is a potential with foremost expectations to profer profits but due to its volatility, it could profer looses at times that is why patient is a keyword to its being to succeed which is impossible for the struggles to adhere to.

Bitcoin is apparently not for the struggles unless there is other means of income or means to essential nneds. Then the is liable to limit the values and rates of poverty or enhances to profer enrichments to its investors.