How do cryptocurrency increase the standard of living

[G-aluminum]

Knowing fully well that there is so many uneducated people around the world, how can cryptocurrency increase the standard of living

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[Ambatman]

It doesn't necessarily increase the standard of living
It creates an opportunity to increase ones standard of living
And this is possible if one invest in projects with good potential and preferable relatively low risk(Bitcoin).
Cryptocurrency is not really the answer to eradicating world poverty but as an opportunity if rightly held can help reduce said proverty.

Not excluding that it has its own risk especially when dealing with shit coins.

[Rruchi man]

Your standard of living can only improve from cryptocurrency, when you invested wisely in a good cryptocurrency like bitcoin and have profited heavily from it, Otherwise cryptocurrency even bitcoin is not a magic wand against poverty and low standard of living.

@OP to profit from bitcoins, you really need to be patient and disciplined, the Investment benefits of bitcoins in terms of profit is not instant.

[Amphenomenon]

I'm literally with everything Ambatman said, but not just investing on good projects like bitcoin, which has already been proven to be a good investment in the long run, another important part is being able to keep your coin safe and secure else in the end you may likely lost it, just as we have seen and heard about many investors.

[KingsDen]

Your standard of living can only improve from cryptocurrency, when you invested wisely in a good cryptocurrency like bitcoin and have profited heavily from it, Otherwise cryptocurrency even bitcoin is not a magic wand against poverty and low standard of living.

@OP to profit from bitcoins, you really need to be patient and disciplined, the Investment benefits of bitcoins in terms of profit is not instant.

Apart from investing in cryptocurrency, Op can also improve their standard of living by learning a skill that will allow them earn in cryptocurrency. While earning from cryptocurrency, you can invest some and by so doing the standard of your living will improve. Another method also is by rendering services and getting paid in cryptocurrency, although this will also require to learn skills. But in all, cryptocurrency is not a get rich quick scheme. This does not mean that you cannot become an overnight rich man with cryptocurrency. There are some altcoins and shitcoins which are very volatile. They could make drastic increase and plunge one into richness, but at the same time, it can also vanish your capital. That is why those kind of coins are not recommended for newbies who has no/little knowledge of how things work here.

Above all, increasing standard of living lies in ones hands to do whether or without cryptocurrency. This is because there are people in cryptocurrency for years and yet there standard of living hasn't improved.

[mirakal]

Knowing fully well that there is so many uneducated people around the world, how can cryptocurrency increase the standard of living

Cryptocurrency won’t guarantee to increase your standard of living, but with the opportunities around you can have all the chances to do it as long as you invest and trade on the right coins in the crypto market. But always know that cryptocurrency will never be a get rich quick tool, and those who have made fortune have made extra efforts and even experienced sleepless nights just to gain higher probability of success.

However, while cryptocurrency can possibly increase the standard of living, it can also make you homeless and ruin all your funds if you invest without prior studies and research, and if you rely on social media influencers wherein majority of them are just doing it to create some hype, but in reality they don’t know that much about cryptocurrency matters.

[PrivacyG]

Bitcoin was not initiated to make people more educated.  It was initiated to offer you the ability to move wealth with zero Third Party interference.  You can spend how ever much to who ever you want.  This includes even Kim Jong Un.  Some body would think this is bad, but to many of us it is a great thing.  While Kim Jong Un can spend and receive with no limits or Censorship, many others who are unbanked can become banked now.

This implicitly increases the standard of living of people in less developed countries.  Unfortunately however.  There are a few caveats.  Recently for example, due to Mempool sitting clogged up continuously, while the poorer countries can continue spending if they want, the Fees are high even for an European or American citizen to afford.

The best thing Bitcoin can do is educate people to be financially free.  Otherwise.  It did not come with such purposes.

[Uhwuchukwu53]

Op your correct in some length but one must put to heart that any investment in crypto currency order than Bitcoin and also having feeling of quick yielding can leads to reverse of the purpose. It takes patient and courage to carterput oneself out of poverty in Bitcoin investment and that step is only patient and putting away quick to make reach in the system as many things making it in Bitcoin is not that easy it takes patient, endurance, smartness and hardwork with proper information and calculative work. Though buying and hold investment make it little bit easy but not that easy because you must be patient inorder to succeed on the process.

[Odusko]

It depends on the nature and manner in which the said investors take the coin and also what you mean by the standard of leaving because what standard is based on individuals' mindsets, but on a general note cryptocurrency has indeed improved our mindset towards investment and also helped us gain knowledge that helps us to improve our financial lifestyle and how to discipline ourselves.
And also the gains we get from cryptocurrency activities like trading and investment profits can and will help us to make some development that can increase our standard in the community and real life.

[Alpha Marine]

I don't believe Bitcoin can increase the standard of living on its own. It depends on how Bitcoin can be applied. The existence of Bitcoin is not about eradicating poverty just like that. Bitcoin is not just going to make the economy better and reduce the cost of living.
It has to be applied rightly.

Bitcoin has created opportunities for people to make money and it is after they make money that their standard of living can improve.
Bitcoin on its own will not charge anything if it's not applied.

The percentage of people making money through crypto is too small compared to the total number of people so it's going to be difficult for Bitcoin to have a significant impact when we're talking of how it has created employment.

[Zlantann]

Knowing fully well that there is so many uneducated people around the world, how can cryptocurrency increase the standard of living

Bitcoin is for everybody but sadly it is not everyone that can use it. And not everybody will also invest in it. This is why it is always said that Bitcoin will be an alternative currency for a long time. For one to use Bitcoin, he should be able to at least know how to read and write. They need this basic skill to be able to read about wallets and also learn how to use them. Anyone who cannot read and write will always need assistance to use the currency and this will not be good for security or privacy. It will take decades for Bitcoin to become useful for most people in my location because half of the population are illiterates.

It is also important to include that Bitcoin can improve the standard of living of people if they invest a high amount in it and hodl it for a long time. Bitcoin is not a quick money scheme, so people should learn how to invest it for them to benefit from it.      

[avikz]

Knowing fully well that there is so many uneducated people around the world, how can cryptocurrency increase the standard of living

It doesn't! But it gives an opportunity to do so. Historically if I look at Bitcoin, it has out performed any other asset classes in the world. That's where the opportunity is. If someone can systematically invest in Bitcoin over a longer period of time, the potential amount of return can provide an opportunity to the investor to increase the standard of living.

However, don't take my reply as an investment advice and do your own research to understand the downside before investing.

[romero121]

Cryptocurrencies have created ways to avoid unwanted spending by banks and other third parties. Another thing is that the market volatility is high with cryptocurrency compared to other kinds of trading assets, such as the stock market and forex. This lets users make good earnings through trading, and the technology adoption gives way to the acceptance of cryptocurrency into business. Through different ways, cryptocurrency can be earned, and its growth over time makes a difference in the lives of those who have kept hold of bitcoin and other cryptocurrencies.

[Games.Bitcoin]

Cryptocurrencies present a field of opportunity only for those who can navigate it wisely.  In particular, strategic investing and trading provides a way to potentially improve one's quality of life.  However, it is important to recognize that success in the crypto market is not guaranteed. Because here the risk of investment is somewhat higher. However, if you think about long-term investment rather than short-term investment, it is definitely possible to get success here. prudence; Success is definitely possible and a good life is possible with thorough education and judicious performance of duties.

[Assface16678]

Sad reality: only those who have the capability to learn can use crypto currency to earn and prosper in life. Let's face it, not all people in the world who're in poverty or poor can read or even have the capability to have a professional job. So about the education, how can you expect a homeless person to learn about bitcoin or any crypto currency when they have nothing to access it? Or even if they do, do they have the equipment and resources to do so? I don't discriminate against those people' I'm just saying that crypto currency yes can help as have a good life or living, but not all people could do it, even those who have equipment and resources, what more those who have nothing unless someone will help them willingly and guide them until they succeed in it. Maybe, for starters, they should be given a professional education or a proper job.

[sheenshane]

Knowing fully well that there is so many uneducated people around the world, how can cryptocurrency increase the standard of living

Not actually do a standard of living but it gives an opportunity that leads that way.
IMO, crypto would help this way because of the nature of decentralized.  The transparency and security features of blockchain technology can help to reduce corruption and ensure a more equitable distribution of resources (I'm talking about the corrupt government that makes people poorer and poorer).  This can contribute to the overall development of communities and societies, lifting people out of poverty.  I think this way would help aside from having profit on it while holding.

We can't rely our living solely on cryptocurrency but they're the ones who lift us from financial problems.

[hatshepsut93]

People like to theorize how crypto can do that and point out that it's borderless and has less restrictions and regulations, but it all remains just a theory for one big reason - crypto is not used much in real world. It's great to be able to send money to anyone in the world, but still all the attempts to create something like a freelance job market that pays in crypto have failed and they list like a dozen jobs per month, while the fiat competitors post dozens of jobs every minute. Same thing with businesses and such - it's incredibly rare to find someone who accepts crypto because there's not much practical benefits to it. And even investing in crypto has no global effects, because poor people just don't have any money to invest.

[bobbybkk]

People like to theorize how crypto can do that and point out that it's borderless and has less restrictions and regulations, but it all remains just a theory for one big reason - crypto is not used much in real world. It's great to be able to send money to anyone in the world, but still all the attempts to create something like a freelance job market that pays in crypto have failed and they list like a dozen jobs per month, while the fiat competitors post dozens of jobs every minute. Same thing with businesses and such - it's incredibly rare to find someone who accepts crypto because there's not much practical benefits to it. And even investing in crypto has no global effects, because poor people just don't have any money to invest.

You mentioned 2 points I find quite important:

1) " it's borderless and has less restrictions and regulations"   - I agree here, it gives all people, as long as there is a internet connection, the opportunity to offer products and services and receive payments without having to deal with the Credit Card BS. So if you live in a poor community and you get the idea to offer prayers for good luck, maybe it becomes a big thing and the community is no longer poor....

2) " crypto is not used much in real world " -  This is actually quite serious, if a prize for something without a proper use case goes up because of speculation, than there is a risk of a bubble that will burst at some stage......

Just a thought experiment: If you wake up tomorrow and magically Bitcoin disappeared over night - what would be the consequences in the real world, apart from some guys shatttered dreams of future riches.. ?

[lovesmayfamilis]

Knowing fully well that there is so many uneducated people around the world, how can cryptocurrency increase the standard of living

OP, what was unclear to you about your February 10th thread?
https://bitcointalk.org/index.php?topic=5484704.msg63643017#msg63643017
How is your question different from this topic?
But one can answer that those who are uneducated, seeing how their neighbors are successfully receiving education and improving their standard of living, can try to follow their example.
Two very decadent questions from the OP indicate that he doesn’t see the point in crypto.
However, man differs from animals in that he can develop regularly; his desire to live better must necessarily find that area of study that will lead him out of the darkness of illiteracy.

[Apocollapse]

I'm curious which poor-middle class people is living only with cryptocurrency, without have a job either in real life and online, not participating in signature campaign etc. I don't think there's, it's not easy to pump and dump shitcoins or trading, if many people can be consistent for making a lot money in there, a lot people will resign from real life jobs.