Can Bitcoin create an opportunity to reduce poverty?

[DYING_S0UL]

It certainly can and it certainly did. It surely does help in reducing poverty. Bitcoin itself doesn't have the power to reduce poverty but if one knew how to utilize bitcoin, then it could be used to reduce poverty. That's why bitcoin education overall crypto education is needed to be spread to everyone. From where I live there aren't many who knows of crypto or bitcoin. Only a few knows of it are using it. So first we have to change this.

[1714548968]

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[flyingcarpet]

It certainly can and it certainly did. It surely does help in reducing poverty. Bitcoin itself doesn't have the power to reduce poverty but if one knew how to utilize bitcoin, then it could be used to reduce poverty. That's why bitcoin education overall crypto education is needed to be spread to everyone. From where I live there aren't many who knows of crypto or bitcoin. Only a few knows of it are using it. So first we have to change this.

It may have been the case that Bitcoin was recognized by poor people and that these people were able to get out of poverty by investing in Bitcoin. From this perspective, Bitcoin is an opportunity for many people. But this is only true for those who heard about Bitcoin at the time and invested in it.

Of course, Bitcoin always offers opportunities for investment, but there are poor people who cannot afford to invest even if they know about Bitcoin. They don't have the option to change their situation by investing.

If you invest in Bitcoin at the right time, you can get out of poverty. Other than investing, it is not easy for Bitcoin to alleviate poverty because it is not easy for Bitcoin to reach all of humanity and it is not easy for awareness about Bitcoin to reach everyone.

[stadus]

Bitcoin is a life changer and only those who have been successful with bitcoin can only attest to that. So I really believe that bitcoin can offer opportunities that will reduce our poverty, that is if you are knowledgeable enough to use bitcoin in the proper way. Because if we blindly use bitcoin and see it as a get rich quick, that will never give us profitable results but will only lead us into series of losses.

However, if you have the risk management with bitcoin, and you're more persistent and patient yo achieve your bitcoin goal, then it will be easier for you to reduce poverty and create positive changes in your life later on.

[Finestream]

Yes, Bitcoin is capable to do that but it will surely take a lot of time before you will see bitcoin is starting to make it happen. But lets make it clear that bitcoin providing an opportunity to reduce poverty is different from bitcoin considered as a get rich quick. It provides ways and opportunities but the chance to make it happen relies on you completely, and not on the high potentials of bitcoin.

If you have the knowledge and skills that you can make use in bitcoin, then there will be a bigger chance for you to finally reduce your poverty and live a more convenient and comfortable life.

[pawel7777]

So I really believe that bitcoin can offer opportunities that will reduce our poverty, that is if you are knowledgeable enough to use bitcoin in the proper way.

What kind of opportunities are you talking about exactly? And what is the proper way of using Bitcoin?
Note that OP is talking about reducing poverty on a macro level, not about individuals getting rich from trading Bitcoin.

The sad truth is that Bitcoin currently is not fit to be used for anything other than trading/speculation (and maybe for transfers of large amounts of wealth).

[BitcoinsGreat]

Bitcoin is not an office job or government empowerment to reduce poverty, and it's obvious that bitcoin is something that have to do with already made money and I believe that without you having your money to invest in bitcoin you can not make profit, and also two things is involved in bitcoin, and one thing that is more important is ability to study when the bearish season and bullish season will occur in bitcoin investment, so therefore I believe that bitcoin can only make you to escape poverty when the luck of bitcoin investment is on your side.

The only thing with bitcoin is that if you invest your savings in bitcoin, then the rate of investment in bitcoin will be high and one can gain significant return on this investment if he or she is willing to hold it for many years.
Other than this , bitcoin won't help to reduce the poverty of a common man. You need to have a job or business that generates income that you can invest in bitcoin.

[pinggoki]

It's hard to tell because in a scenario where bitcoin will solve poverty, it's just one of the many factors to the reduction but not eradication and it's not even the best factor to reduce because they're better off having bitcoin as a long-term investment but the impoverished people can't afford to do that because they're thinking on a more day to day basis in terms of expenses. If these people would be able to hodl bitcoin for a really long time though, they're definitely going to be able to have a big help to get out of poverty.

[Sanitough]

Bitcoin does not make you rich but it helps you boost your opportunities to become rich in the future. For those who have been investing in bitcoin in the early years, I guess at the present they are already enjoying their success and the benefits that they have gained from bitcoin. So it's very clear that bitcoin offers opportunities to get rid off from poverty, but it won't happen for a quick but know that the process will be tough and would take quite long for before you can see positive results.

Patience is the key. If you don't have it, you will never have the right timing to be in profits with bitcoin.

[Ojima-ojo]

Op speak as if bitcoin education hasnt always been free, and accessible to any and everyone that is interested in it.
For we that are adults, it is rightly our responsibility to search out for opportunities, and when we find one that is very interesting like investing and trading bitcoin and other cryptocurrencies, then we introduce it to our children after we ourselves have tested it and are sure that it's a very genuine opportunity.

And for the records, bitcoin and cryptocurrencies in general won't really eradicate poverty from the world even if every one was into it, like I've read one member of this forum say one time, that we can never ever get to a stage where every single person in this world would be rich/wealthy, there will always be poor people around the world regardless of how much influence bitcoin and cryptocurrencies have in the world, it's important we all know this.

[boty]

Bitcoin does not make you rich but it helps you boost your opportunities to become rich in the future. For those who have been investing in bitcoin in the early years, I guess at the present they are already enjoying their success and the benefits that they have gained from bitcoin. So it's very clear that bitcoin offers opportunities to get rid off from poverty, but it won't happen for a quick but know that the process will be tough and would take quite long for before you can see positive results.

Patience is the key. If you don't have it, you will never have the right timing to be in profits with bitcoin.

Indeed, everyone has the opportunity to become rich through investing in Bitcoin or trading and this depends on the person who is willing to learn it and start to make themselves successful with the investments they make.
Yes, for some people who have started early, of course they have been able to feel the benefits of their investment and enjoy the benefits, of course it takes more than just a few weeks to be able to get a profit from the investment they made and they have to remain patient with the investment targets they have set.

[Questat]

It certainly can and it certainly did. It surely does help in reducing poverty. Bitcoin itself doesn't have the power to reduce poverty but if one knew how to utilize bitcoin, then it could be used to reduce poverty. That's why bitcoin education overall crypto education is needed to be spread to everyone. From where I live there aren't many who knows of crypto or bitcoin. Only a few knows of it are using it. So first we have to change this.

I don't think so because poor people won't see it as an opportunity but only those who have money know it. Those people who live in the poverty line never think about investing, never think about spending for their future but what is their desire now is to feed themselves every day, that seems enough for them - they keep working throughout the day, the same thing they do the next days.

Investing in Bitcoin is not really the solution to that problem but of course, can change one's life if they will try and manage it well.

[demonica]

It certainly can and it certainly did. It surely does help in reducing poverty. Bitcoin itself doesn't have the power to reduce poverty but if one knew how to utilize bitcoin, then it could be used to reduce poverty. That's why bitcoin education overall crypto education is needed to be spread to everyone. From where I live there aren't many who knows of crypto or bitcoin. Only a few knows of it are using it. So first we have to change this.

It may have been possible for some people but definitely won't have the same results for everyone who will go into Bitcoin. Bitcoin can be a powerful tool for a person to have a better financial status, and it's also the same with other tools such as paper money, cc and etc. But it doesn't mean everyone can be lucky. So if one person was able to escape poverty thru Bitcoin, it doesn't mean everyone who'll get into Bitcoin will also have the same fate. So I don't think Bitcoin will have such great impact in reducing the poverty. There's such a big population of poverty all around the world, and probably only around 0.00001% of it can have the skills, knowledge, and opportunity to be successful financially with Bitcoin or crypto in general... Though I agree that having knowledge and background in Bitcoin gives you advantage to find more opportunities in becoming rich or achieving financial success.

[majeed]

It certainly can and it certainly did. It surely does help in reducing poverty. Bitcoin itself doesn't have the power to reduce poverty but if one knew how to utilize bitcoin, then it could be used to reduce poverty. That's why bitcoin education overall crypto education is needed to be spread to everyone. From where I live there aren't many who knows of crypto or bitcoin. Only a few knows of it are using it. So first we have to change this.

It may have been possible for some people but definitely won't have the same results for everyone who will go into Bitcoin. Bitcoin can be a powerful tool for a person to have a better financial status, and it's also the same with other tools such as paper money, cc and etc. But it doesn't mean everyone can be lucky. So if one person was able to escape poverty thru Bitcoin, it doesn't mean everyone who'll get into Bitcoin will also have the same fate. So I don't think Bitcoin will have such great impact in reducing the poverty. There's such a big population of poverty all around the world, and probably only around 0.00001% of it can have the skills, knowledge, and opportunity to be successful financially with Bitcoin or crypto in general... Though I agree that having knowledge and background in Bitcoin gives you advantage to find more opportunities in becoming rich or achieving financial success.

Bitcoin isn't a cure-all for poverty, but ignoring its potential? It's short-sighted. Not everyone will succeed with Bitcoin, but that's true with every financial tool, right? Opportunity is crucial. Bitcoin opens doors but doesn't ensure entry. That's fine! Let's talk numbers. I understand poverty is serious. So only 0.00001% may succeed? Bitcoin's power is underestimated. It goes beyond 'being lucky.' It's about global financial access, especially for the excluded. Despite its smallness, it advances financial inclusion. And every step counts.
Knowledge is power. Understanding Bitcoin is about joining a financial revolution, not just getting rich. The way you use it determines its usefulness. Let's not underestimate its potential. It's not perfect, but it's a decent start.

[lizarder]

Eliminating poverty in its entirety won't be possible, but since the current system is built such that those with money and power can extract wealth from the poor, BTC can offer the poor an alternative to save their wealth in a place that makes extraction harder, though not impossible through secondary ways. If a poorer person is saving in BTC and needs to use it at some point to make an investment (perhaps pursuing a business idea), those BTC will someone be reinjected into the bad system. But it does give people an option to protect their wealth from being taken away in some of the ways the current system is destined to allow for. Talking about one architecture based on algorithms as the ultimate savior goes too far. But considering BTC as one factor of many to fight poverty is certainly a comprehensible consideration

It doesn't sound as easy as imagined and I have seen how poverty makes people increasingly lazy to seek knowledge and they even lose their enthusiasm for making savings in any form. If you see poor people who have bitcoin and they can buy gold for example, then I can say they are not really poor people, but rather they are people who have the opportunity to get out of the poverty line in their own style and way. It's very different from real poor people and they can't even afford their children's education, so how can we talk about technological advances or the investment system that exists in bitcoin.

I believe that bitcoin is a good step to reach the stage of financial freedom but to what extent are poor people able to realistically see this opportunity to get involved in investing. When people have difficulty meeting their daily food needs then that person has no chance of being seen in bitcoin or in any investment in my opinion.

[bitterguy28]

Bitcoin does not make you rich but it helps you boost your opportunities to become rich in the future. For those who have been investing in bitcoin in the early years, I guess at the present they are already enjoying their success and the benefits that they have gained from bitcoin. So it's very clear that bitcoin offers opportunities to get rid off from poverty, but it won't happen for a quick but know that the process will be tough and would take quite long for before you can see positive results.

Patience is the key. If you don't have it, you will never have the right timing to be in profits with bitcoin.

Indeed, everyone has the opportunity to become rich through investing in Bitcoin or trading and this depends on the person who is willing to learn it and start to make themselves successful with the investments they make.
Yes, for some people who have started early, of course they have been able to feel the benefits of their investment and enjoy the benefits, of course it takes more than just a few weeks to be able to get a profit from the investment they made and they have to remain patient with the investment targets they have set.

as long as you are ready to what you are investing , and you are willing to risk then there will never be a problem here.

I think it is possible to create opportunities for poverty reduce through Bitcoin. Where banking services have not fully penetrated, this can be done through skilled people, facing challenges such as Bitcoin technical hurdles and price volatility. However, not all countries allow the use of cryptocurrency. Moreover, only few people are know about bitcoin.

The volatility Hinders all this to take place because because the price changing makes it hard to bring possible profit but have a good opportunity once the bull happens so maybe it is not about the Poverty reducing but helping people to make their choice better than what they are having now.
and also Banking has nothing to do with this , instead government opening opportunity of they will adopt and allow this to be used by everyone.

[Fara Chan]

It certainly can and it certainly did. It surely does help in reducing poverty. Bitcoin itself doesn't have the power to reduce poverty but if one knew how to utilize bitcoin, then it could be used to reduce poverty. That's why bitcoin education overall crypto education is needed to be spread to everyone. From where I live there aren't many who knows of crypto or bitcoin. Only a few knows of it are using it. So first we have to change this.

What needs to be changed, mate? If in your place not many people know about crypto and Bitcoin, you should be a pioneer there to teach those who want to learn about Bitcoin and how to use it so that the poor people there can be helped a little by what you teach them. However, you also have to make sure first that they really intend to learn about Bitcoin without any coercion, because this is for themselves and their future. So you must be able to make a separation between those who intend to learn from those who have no intention of learning because they don't like Bitcoin itself.

[gunhell16]

Bitcoin is a life changer and only those who have been successful with bitcoin can only attest to that. So I really believe that bitcoin can offer opportunities that will reduce our poverty, that is if you are knowledgeable enough to use bitcoin in the proper way. Because if we blindly use bitcoin and see it as a get rich quick, that will never give us profitable results but will only lead us into series of losses.

However, if you have the risk management with bitcoin, and you're more persistent and patient yo achieve your bitcoin goal, then it will be easier for you to reduce poverty and create positive changes in your life later on.

Yes, that's true; in fact, I have been one of those who have been helped by Bitcoin to experience a solution to a financial problem. Not just an opportunity but also one of my passive incomes in the few years I've been here in the field of crypto space.

I was able to do it because of the passion I had, and it can be said that I started here from zero to knowledge, from nothing to something, and now I have invested in an investment like real estate that I bought through cryptocurrency earnings.

[thiagothx1370]

It been a big challenge in most country since the fuel subsidy and bad economy some country  are facing.A lot of people find it difficult to feed themselves and families, Now it Christmas season alot of people don’t have transport to go their various stats due to the high cost of transportation,  bad road and insecurities in some nation, some many lose intrest. As a good country the government should have free bus for less privileged to travel home for season like this.that why cryptocurrency should be taught free to individual with serious mind, with the rate of overpopulation and poverty in the country it something everyone or most people suppose to learn because the world is going digital and our currency is not appreciating compared to other currencies and the value is so low.that why am suggesting that Bitcoin and altcoin should be taught free of charge and the knowledge should be pass to the younger ones since they are the leader of tomorrow let see how it can reduce the rate of poverty or eradicate poverty entirely in every Nation. The world is suffering and Bitcoin should be introduced in every nation and should be freely

The only way of reducing poverty is the free market and voluntaries trades. The main cause of poverty is the existence of government who drains all productivity which was created in society. We have to wipe out all forms of government and abolish the idea of coletivism.

[rodskee]

It's hard to tell because in a scenario where bitcoin will solve poverty,

Do OP mentioned Bitcoin resolving Poverty ? instead reducing is what OP asked so that is
different thing mate so it is not that hard to tell but there are some grounds we need to deliver and solve first.

it's just one of the many factors to the reduction but not eradication and it's not even the best factor to reduce because they're better off having bitcoin as a long-term investment

the question is in general and no time line meaning it can be answered as Holding bitcoin
and that factor is also in the table so indeed that we can assess long term for this.

but the impoverished people can't afford to do that because they're thinking on a more day to day basis in terms of expenses. If these people would be able to hodl bitcoin for a really long time though, they're definitely going to be able to have a big help to get out of poverty.

Exactly mate , poor cannot even manage to buy food so how come they can invest in bitcoin.

[Y3shot]

One of the first way to reduce poverty is to create a job for yourself or to engage yourself into something that will generate money for you. Bitcoin doesn't make people to be rich or give people money without investing in it. You need to get money of your own , then Bitcoin will assist to increase your money if it is invested as a longterm investment. If you depend on Bitcoin without having any financial income for yourself you may not get what you want from bitcoin. Generate income , then you invest in bitcoin then you will gain more money from bitcoin,  only if you can be able to hodl.