Bitcoin Na For All: But can the 63% Wallowing in Poverty invest in bitcoin?

[Bright0515]

For sure they say Bitcoin is for everyone but I don't believe it, just as you highlighted here that average Nigerians can't afford 1 dollar when it was just #366 and now 1 dollar is approaching #1600 so how are they going to cope with it what I even see here is decrease of members who previously partake in Bitcoin because things are getting cost but salaries are not being added so alot of people are going to pause.
63% of poor people wallowing in poverty is a very bad record for a country like Nigeria, Giant of Africa precisely even mining and other crypto currencies will see alot of inconsistency because everyone who find it hard to earn a dollar won't risk their belle for sub for internet sake.

Another angle to see that sentence (Bitcoin is for everyone) I think it's trying to let know that everyone wether rich or poor can follow up.

Na for u to check how ur pocket take Ballance because at any cost money matter dey involved.

[Rruchi man]

And hunger is the time when you don't have anything to eat so those who are hungry too can't invest because they have to eat first.

Investment na for who get money, nor be for common man wey never chop and just dey struggle to survive. If you are not financially capable, investing is in no way for you, and your first focus should be getting money to survive with, not investing. If anyone has an interest in investing in bitcoins, their first focus should be to first become financially comfortable, then sort out their basic needs, especially feeding and shelter, before seeking to invest in bitcoin.

People who profit from investing in bitcoins are the people who have enough invested, not a few naira.

[Judith87403]

Actually most people always have this mindset that bitcoin Investment is for everyone, though everybody can invest in bitcoin that's for those who are interested and also have a decent job, because if you don't have a source of income definitely you will find it very difficult to invest in bitcoin, because there's no way you're going to get a Capital to start up your Investment.

However bitcoin investment is not for the poor rather is for those who have a stable income reason is because even if they experience lose in the market it won't have any negative effect on them, you know poor people always have a different mindset, poverty can even make them see bitcoin investment as scam that they rather use their money to  buy some food stuffs than to invest it in bitcoin. of course you can't invest with empty stomach, is just like those people who prioritize bitcoin investment more than their health those people are making a very big mistake.

[MainIbem]

First of all sef Bitcoin no be something wey person wey never fit see food chop sef supposed carry put for head, I mean Bitcoin is everyone no mean say if you never feed well then you go come go carry Bitcoin investment as something wey supposed put food for your table and moreover there is always the first hand advice about Bitcoin investment being for people that actually have tangible jobs doing especially the long term holders.

Exactly, I no see any reason why person wey never fit afford three square meals go dey think of investing money wey eh suppose use survive for Bitcoin, that one go be very wrong step especially now wey things done hard cause how long wey the person wan even hodl self before em sell am carry survive? Normally dem they advice people to invest with their spare money so eh no even dey advisable for such person to carry money wey eh suppose use chop survive go invest for Bitcoin. Bitcoin is for everybody no mean say na investment plan for everybody, yes anybody both poor or rich fit transact with Bitcoin or receive payment through am, but when it comes to investment plan poor people wey dey barely feed three square meal suppose stay off that aspects until dem dey financial capable to invest (buy and hodl for long-term).

[Derek jnr2001]

Actually every body fit Investment in bitcoin as Long as you get the capital to start up with, but for those who barely feed you no go expect those kind of people to invest in bitcoin when dem still dey look for food to chop. However bitcoin investment na for those people who don chop belle full so that incase of anything happen in the market in no fit affect you in anyway, just imagine those people way still dey struggle on how dem go take survive probably after struggling dem come use the money way them suppose to take hold body come go invest am in bitcoin e come happen say they  experience lose in the market.

You know how in go take pain Dem for body at this point him go begin dey regret say assume mean say him know say him for use the money go buy some food stuffs, this thinking go reach one full month sometimes self in go past one full month dem go still dey think about the lose, though bitcoin na very good asset that can profit us in the future but no go put body for bitcoin investment when you never chop well.

[Miles2006]

Everybody get how them dey take survive and mere looking at the hard economy and poor growth the common man no fit reason bitcoin, to invest na wetin need steady income mostly if na dca strategy, if na lump sum e try dey understandable because person fit receive money anytime maybe selling of property or land etc, even if na lump sum the economy dey too bad for person to carry money wey no dey sufficient invest at once. Me I believe say bitcoin investment na for the ones wey sure say them go receive salary and bonus steady so investing no be big deal and the investment choice na bitcoin wey dey bring profit. As for the question, na who get money dey invest mostly for this time investing belike like burden for some people due to hardship.

[EluguHcman]

The Bitcoin said to be for everybody is literally on its accessibility that which aside individual governments and authorities, everyone has the right and different purposes to adopt Bitcoin and then, while certainly, it is not for everyone in terms of adopting it for profitablity such as trading and Investing when an individual is struggling on the provisions of essential needs such as consumable commodities.

There are much more to do with more than having it in an invetainment system like Bitcoin which profits does not come quickly such as the stock traders may be able t generate quick income to solve emergency needs.

Anyone holding funds elsewhere and still struggling on essential things like eatable and medications which sustains the life to be able to pursue that income must be joking with its life.

But anyone who can afford these essential needs and still remains financially imbalance can of course be good to invest on Bitcoin because then you needed to grow on your income and increase your portfolio in other to live a more better or expensive life and not like one struggle on the survival of life that can not be guaranteed on what to eat and their healthy beings.

So then, I agree with you that Bitcoin is certified financial technology for everyone but not convenience for everyone.

[Y3shot]

Bitcoin is for all thst can afford to invest in it. Their are some other investments that investing in it will take a lot of process but in bitcoin their is no limitation to invest it, the only thing that limit people from investing is the lack of steady income but so far as one is able to afford it  is very easy to invest bitcoin.  It is not a must that everyone must invest in bitcoin, for those who can afford it, it is just better for them to never force themselves just to invest in bitcoin instead it is better for them to be able to put their self in order by looking for a means of having good income that can generate money that can make one to have access in investing bitcoin.. it will be best for people to stop thinking of investing bitcoin but rather to work on their self to be financially sufficient to enable them to partake in bitcoin investment.

[Cryptohygenic]

And hunger is the time when you don't have anything to eat so those who are hungry too can't invest because they have to eat first.

No be lie bitcoin no really be for everybody and no be only for the aspect of individual income levels way to qualify person to invest on this bitcoin but also one on one emotional capacity way fit dey stabilize when the market dey try distabilize your positive impacts for the industry during when price dey fall. Na there the main sentiment dey take start.
We know say people dey way no fit stand the risks to invest for bitcoin even if them fit afford the lost talk more of who dey hungry way no fit afford a lost dime way fit be their last card or even say hunger dey wire person and u get money for someone just lock up cos u dey find Interests.
E no possible at all.

[Mate2237]

As for me oh, I no fit invest on bitcoin when those not alright withe and I can't invest in bitcoin when I no dey do anything to generate extra income. If I invest in that then it is not investment because I go still collect back and I fit lose sef if the price never go up. I don create similar thread say, https://bitcointalk.org/index.php?topic=5472973.msg63110565#msg63110565

From the beginning of my journey to the forum me I know say bitcoin no be fun e all and not everyone go fit invest in bitcoin because of the duration to wait and many no like to wait for that long period of time. They just need quick quick money. Dat is why when we tell people to even invest and tell them di conditions, dem no fit. People wey never chop belle full nai go do investment for bitcoin? Dey play.

[GIF-JOBS]

If you don't have any means of income, you cannot invest in bitcoin. Whoever wants to invest in bitcoin should first get a job, and if you ha e a job and your income is small that it cannot take care of your monthly expenses, you should look for a second means of income so that you will have enough that you can invest from.

Whoever understands the reason why we should invest for the future will want to go extra miles in order for him to buy bitcoin and build his portfolio gradually because that is what will save your from dying poor in future. We also know how our local currency is fast depreciating due to inflation, if you keep your saving in bitcoin, it is an hedge to inflation in future your money go increase in value instead of to depreciate when fiat dey depreciate.

Yes I also agree with you, we really need financial stability when it comes to Bitcoin investment. Because here we have to hold our holding for a long time in any case. And we need to deposit a certain amount regularly on a weekly or monthly basis in DC A system, and for this we need a guaranteed income. If a person has no source of income, or if his income is too small to support his family in any way, then it is better for him to stay away from investments, he should first build a good source of income.

Or suppose you make very little money and manage your family with very difficulty, but still you are interested in investing, in which case manage your family with more difficulty somehow and start regularly investing small amounts out of that amount, and later on for any emergency in your family. If you need money, you need money for urgent health or any family emergency, in which case you have no cash fund except Bitcoin holding, then you Compulsory withdraw money from your Bitcoin holding and meet that emergency, and that The time you withdraw money from your Bitcoin holdings can also cause you to lose money, as Bitcoin's volatility can cause the value of Bitcoin to go down any time and its value to go up any time. And if the value of Bitcoin is low at the time of your withdrawal, you will lose.

So an investor should first build a strong income stream, from which he will continue to receive money and keep a separate fund for emergencies, invest in bitcoins that he can hold continuously for a long time, and he must have a DCA. The method involves continuing to invest a certain amount of money on a regular monthly basis, and holding for a long period of time. Then he can definitely benefit.

[Juicyhome]

For sure they say Bitcoin is for everyone but I don't believe it, just as you highlighted here that average Nigerians can't afford 1 dollar when it was just #366 and now 1 dollar is approaching #1600 so how are they going to cope with it what I even see here is decrease of members who previously partake in Bitcoin because things are getting cost but salaries are not being added so alot of people are going to pause.
63% of poor people wallowing in poverty is a very bad record for a country like Nigeria, Giant of Africa precisely even mining and other crypto currencies will see alot of inconsistency because everyone who find it hard to earn a dollar won't risk their belle for sub for internet sake.

Another angle to see that sentence (Bitcoin is for everyone) I think it's trying to let know that everyone wether rich or poor can follow up.

Na for u to check how ur pocket take Ballance because at any cost money matter dey involved.

It's a shame that Nigerians are wallowing in poverty inspite of our riches in mineral resources. This really affected our low interest in bitcoin investment, its only those with good knowledge of bitcoin and other sources of funding are investing in Bitcoin.  Because a man that can't afford to eat three squaremeal a day can't save or investment in bitcoin.  Bitcoin investment is a long term holding. So it's only those that have enough money to spare some for investment can send the test of time in bitcoin.  Even if the awareness of bitcoin is all round in the country we still have Low percent of investors not because they don't want to invest in bitcoin but no funds to spare for it. Everyone is just eat from hand to mouth.  Bitcoin is a desire for everyone but not for everyone.

[CryptopreneurBrainboss]

Poverty is a mindset and not a permanent condition that we should be thinking, the poor can't invest in Bitcoin abi we no dey hear story of how some people invested just $1 in Bitcoin back in the days and today them dey alright.

Okay so person no fit invest $1 and expect something big again but you can invest $10 wey no big pass 17k naira and who knows in the next 5-10 years that could be 170k or more depending on how Bitcoin grow reach.

You can invest more too depending on wetin you get. You fit do jobs and they  keep small money aside wey you go dey use DCA inside Bitcoin after you done remove the money to use chop and for other expenses.

If you wait until you get money well before you start to they invest, you no go fit do am because more problems go they come as more money they enter your hand.

Even though you no invest in Bitcoin right away, there are other investments that you can get yourself involved in and it'll yield you profits that you can then use to invest in Bitcoin and hodl for your future.

[Forever101]

My brother , bitcoins is not for all as we speak, the common man that is seeking for food to survive can not have time investing in bitcoins but I will say again that with the way young people get followed on social media this day, I believe the wise one can diversify some of their earning to bitcoins if they got the right advice.

How I  feel right isn't good at all, do you know that when btc was just 4million naira, I did not even have 10k to invest as at then, though I was a student on siwes program.

Our environment is not helping at all, the little people are able to gather is not enough to make feed well , how will someone of such think of buying a coin.

To be sincere with you, life is even more hard and this is forcing some investors to get out of the market just to survive the economy.

[IceLincoln]

Omo I like this ya post but why I think they say it’s for all its because it’s an open access investment, so long as you have internet service and a phone or PC but in the real sense no b for all man, if u Neva fit survive how you wan save or invest but there’s still an opportunity for who Dey try survive. You fit use the Dollar Cost Average strategy, just they use am Dey save all those small money wey for go for shayo.
E get people inside that 63% wey Dey spend money on Wetin dem no suppose too, one thing na mindset another na the kind of information and environment you’re exposed to

[Proty]

First let me differentiate poverty and hunger. Because most of us don't know di different and we using them together.
Poverty does not mean say you don't have for to eat, you don't have anything. But you have food to eat but it is not sufficient fill yourself. In 2020 World Bank said the average Nigerians are living below one dollar a day. And by then 1 dollar was #366 and if someone didn't have that amount then that person can't invest in Bitcoin because he very poor that he or she only thought on survival. And that is why when people are saying that bitcoin is for everyone, yes I agreed but not everyone can invest because cost of living making things difficult for some people to invest in bitcoin. Not everyone has access to Internet and not everyone has money to invest. Yesterday and today Vanguard newspaper again. I have been following the news on social media platforms and blogs , the current serving Presidential aide said, 63% of Nigerians are wallowing in poverty, so this has came to my mind will this 63% who can't afford $1 dollar a day invest in bitcoin if we go with the idealist saying of bitcoin is for everyone therefore everyone can invest it in. Yes everyone can do that but what of the 63%?

This has indicated it that the 63% which is below 1 dollar a day can't invest in bitcoin.

And hunger is the time when you don't have anything to eat so those who are hungry too can't invest because they have to eat first.

Bitcoin investment is not for everyone rather it is for everyone who has the potentials to invest in bitcoin becos before one begins to talk of invest , the person must have source of income .A man who finds it difficult to feed himself can't think of investment. Also not just the poor , there are people who are poor in thinking that is they have the money to invest in bitcoin but they won't invest in bitcoin, poverty of the mind is also one problem bcos is not all rich nigeria that are into bitcoin investment not that they don't have the money but they are not thinking in that direction. Bitcoin investment is not for those that have patience issue or those with low risk tolerance.so poverty is not the only reason why people are not into bitcoin.

[Charles-Tim]

People that are suffering from poverty are people that are living below the poverty line which are people that are unable to live above $1 daily that OP explained above. It is worth knowing that some people will leave above the poverty line but yet not still able to invest in bitcoin as some will not still have the money. This can be because of their responsibility like taking care of their family.