Crypto can help poor nations a lot

[Odusko]

Although that it's a fact that it can't help to remove poverty in all of the poor nations, the people that are engaged with it are having more opportunities. Just like in projects that generates new jobs and as total new economy. That's how it goes in general although many opportunities are in different forms. Many don't like the idea that there are full time airdrop people but to be honest, I've seen a lot of them in the past and even until now and fortunately, they're able to survive with the little that they have.

Alternative that what cryptocurrency is and not main source of income generation to both the individual or government, the country economy rely so much on other factors that drive it progress and are traceable and there after if the country leader be a oro cryptocurrency he can push further to seek and as alternative, and not the main source, so if a country have poor economic system what their need to do is to revive the economy by providing a suitable environment that can create wealth and economic progress instead looking for magic route through cryptocurrency.

Success rate there is quite small and that's why they shouldn't just stick to it but to find more and better opportunities once they're able to make money from it. So, in general, this is about having a new form of source of income from those nations and that's helping each individual to have a better personal economy and uplift their lives through earning crypto in various ways.

Most people won't believe that the success rate through cryptocurrency is very small, to some anyone that is into cryptocurrency is an automatic billionaire not knowing that if care is not taking getting involved in crypto for some can lead to they poverty, so it all depends on the knowledge, skills and the luck that comes your way as an investor.

[ranochigo]

Isn't that is what Bitcoin all about? (a speculative asset) and a currency of course. Actually it is a currency as a main but it's just that many people are treating it the other way. I wouldn't blame them because Bitcoin's value is increasing consistently. Who wouldn't want to earn a decent profits easily anyway?

That would be an inaccurate assessment. Bitcoin is a speculative asset because it ticks a few boxes, volatility, investors intent to make quick profits by purchasing and exiting in a short time frame, and are generally non productive assets. You think Bitcoin would increase in value consistently, but that is not guaranteed by anything but it is just an observation from a trend. We should never invest just because it seems like it is a trend.

Bitcoin is a currency, but it is also a speculative asset. They aren't mutually exclusive.

Investing is risky but a serious investor knows and accepts this already. Even those who aren't that serious and just rush, can take it as well, because they already buy it anyway, though some of them can only regret it in the end, especially if the final outcome is not successful. With what is said earlier that Bitcoin can provide decent profits, it is actually a big help for those who are living below the poverty line. If the country's own currency is not performing well, I think Bitcoin can also be used as an alternative to them.

Again, wrong assumption made. If it were to make any significant difference, then it would probably be them investing their entire lifesavings in. If Bitcoin drops 10%, 20% of value overnight, it would be terrible for people with such a high exposure. For people living under the poverty line, they probably wouldn't want their money to be stuck in Crypto when the market goes down.

In between stable coins and Bitcoin as a currency means for cross-border payments or transactions, Bitcoin is the winner here, because we all know that stable coins are centralized and a lot of factors can interfere with us. It's so hassle. Stable coins still has their own edge against Bitcoin and that is they are very stable.

Conversely, stable coins are better for them. Stable coins have a constant value while having the same characteristics that enables speedy crossborder transactions. Sovereign funds or even retail investors are smart enough to put only a portion of their asset exposure to Bitcoin. There is no guarantee that Bitcoin would grow in value consistently. Facilitating cross border transactions would be far better in that regard.

I don't believe people who need the money should dabble in crypto solely because the risk is too big.

[Scarlett_23]

Crypto won't make any country rich overnight.  If a country is poor, the task of the authorities is to find sectors that can be a source of income.  Along with that, the authorities have to find out which sectors are more likely to suffer from it.  How can a poor country buy Kipto where their basic needs are not met.  It can change the fortunes of a few people who have enough knowledge about it.  Kipto is not the only way to eradicate poverty.  You can trade other coins, or sell crypto currency coins on the p2p platform.  If you are not knowledgeable about this, you stand a chance of losing money and may end up poor.

[pooya87]

El Salvador is an excellent example to answer this question but people are using it wrong and are making the wrong conclusion as well.

The situation in this small country with the economy and general issues in the society like crime rate didn't go away because their government invested in bitcoin. Instead it all improved because of a million different things that their government has been doing like fighting the "gangs", attracting foreign investors (not bitcoin related) and a lot more. Then on top of all that effort, they also invested in bitcoin, started various bitcoin businesses and attracted foreign investors (bitcoin related).

In other words Bitcoin alone was not the reason.
My point is that a good competent government with a "brain" can solve problems of any country, poor or not. The rest is the cherry on top, that can boost the situation.

[avp2306]

Isn't that is what Bitcoin all about? (a speculative asset) and a currency of course. Actually it is a currency as a main but it's just that many people are treating it the other way. I wouldn't blame them because Bitcoin's value is increasing consistently. Who wouldn't want to earn a decent profits easily anyway?

That would be an inaccurate assessment. Bitcoin is a speculative asset because it ticks a few boxes, volatility, investors intent to make quick profits by purchasing and exiting in a short time frame, and are generally non productive assets. You think Bitcoin would increase in value consistently, but that is not guaranteed by anything but it is just an observation from a trend. We should never invest just because it seems like it is a trend.

They create wrong assessment on bitcoin since what they only think about is to earn from this coin but they forget to realize that its risky to invest with bitcoin especially if they aim for short term gains. Volatility will be their number one enemy and it kill hopes of people especially if they have lack of knowledge upon how they deal with their bitcoin. Bitcoin increase its value but that doesn't mean it will help poor nation to became rich easily. This fantasy create trouble to those people since it make them became so greedy.

Also I don't think the value consistently increase since there are instances that price falls due to many reasons and that lead for some unknowledgeable people to lose its because they easily get panic in the situation. That's why before talking about helping to earn something or any gain perspective maybe they also need to learn the downsides of bitcoin so that they can use it to make better decisions if they are ready to acquire bitcoin.

[AprilioMP]

Let’s discuss today about Crypto and how it can extremely help poor nations.

Using logic, crypto cannot change the situation from poor to rich. It cannot make poor countries rich as most of them have said here.
Crypto is only a system or familiar with the term digital currency that is used to transact digitally without involving a third party. Because there are so many types, the value and price are also not the same.
Anyone can use crypto and anyone can choose the type of crypto they want with the desired use by anyone who has it.
I just want to say that Bitcoin is Bitcoin and crypto is not necessarily one type.

[fuguebtc]

Isn't that is what Bitcoin all about? (a speculative asset) and a currency of course. Actually it is a currency as a main but it's just that many people are treating it the other way. I wouldn't blame them because Bitcoin's value is increasing consistently. Who wouldn't want to earn a decent profits easily anyway?

That would be an inaccurate assessment. Bitcoin is a speculative asset because it ticks a few boxes, volatility, investors intent to make quick profits by purchasing and exiting in a short time frame, and are generally non productive assets. You think Bitcoin would increase in value consistently, but that is not guaranteed by anything but it is just an observation from a trend. We should never invest just because it seems like it is a trend.

Bitcoin is a currency, but it is also a speculative asset. They aren't mutually exclusive.

What is Bitcoin , it will all depend on how we use it, we are the ones who decide what Bitcoin is, and it has no right to decide on its own. Some people will use bitcoin as a currency, some will use it as a store of wealth, or an investment...bitcoin is a multi-functional asset, IMO.

Given its volatility , I believe everyone knows it can be used as a speculation but people often don't want to consider bitcoin as a speculative asset because speculation has a lot of risks . They always talk about investing in it for the long term because they want others to do the same to minimize risk .
If we only consider bitcoin's volatility, bitcoin is a purely speculative asset .

[Tmoonz]

Let's discuss crypto today and how it could help poorer countries enormously.
We all know about crypto, how it is still very new and it is very advanced by technology, but also requires a technical infrastructure which is not available in all poor countries.

It is important to have expansion of infrastructure, and when it happens, crypto is also becoming more famous in more and more poor countries.
Because crypto is global and if the standard of living in New York is very high and an apartment there is very expensive, you can get little value from it despite many cryptos. The situation is quite different in poorer countries, where it is very easy to achieve a lot with little money and therefore It's a globally averaged standard where crypto helps poorer countries disproportionately. This is really good and therefore you should promote crypto.

It can help to address inequality and improve living standards in poor countries, being of benefit to everyone.  

Let’s discuss today about Crypto and how it can extremely help poor nations.

What I could say is that there are different ways a country can actually be developed or improve their standard of living, if a country can have sensitization campaign on crypto and as well provide employment opportunities to enable it citizens as it requires a good source of income for anyone to invest in crypto considering the fact that one must first ensure that their living expenses are well taken care of including an emergency fund. A poor citizen can not invest in crypto so a country should help it's citizens to increase their financial status.

[CryptoHeadlineNews]

Even in rich nations of the world, the truth of the fact is that there are still some people living there who are poor, as poverty is not caused by where a person finds himself, but simply by the mentality he has in the place he finds himself, that is, being able to offer solution to problems in exchange for money. So when it comes to the influence of crypto in poor nations, I can truly testify that with the help of crypto, many people have been able to afford a better life either through trading, p2p buying and selling and a general long term investment which we all practice. But moreover, those don't come on a platter of gold, as there has to be government favorable policies to enable people execute crypto transactions successfully.

[Zoomic]

Let's discuss crypto today and how it could help poorer countries enormously.
We all know about crypto, how it is still very new and it is very advanced by technology, but also requires a technical infrastructure which is not available in all poor countries.

It is important to have expansion of infrastructure, and when it happens, crypto is also becoming more famous in more and more poor countries.
Because crypto is global and if the standard of living in New York is very high and an apartment there is very expensive, you can get little value from it despite many cryptos. The situation is quite different in poorer countries, where it is very easy to achieve a lot with little money and therefore It's a globally averaged standard where crypto helps poorer countries disproportionately. This is really good and therefore you should promote crypto.

It can help to address inequality and improve living standards in poor countries, being of benefit to everyone. 

Let’s discuss today about Crypto and how it can extremely help poor nations.

The question is, can the poor people in these poor nations afford to take the risk of investing in bitcoins? Although some persons may invest in bitcoin but then majority of the people may not be patient enough to earn that money capable of improving their standards of living. Many others out of ignorance will not even consider bitcoin as a thing worth investing in. In countries where there are high levels of illiteracy and ignorance, topics about cryptocurrency will not seem relevant to a lot of the population.

These countries are not poor because they lack what it takes to make the standard of living of their citizens favourable, but because they have refused to explore and make use of the natural resources and opportunities within them. Poor countries should concentrate more on utilising the opportunities they have within them, while those who can invest in bitcoins go ahead to invest.

[ThemePen]

Even in rich nations of the world, the truth of the fact is that there are still some people living there who are poor, as poverty is not caused by where a person finds himself, but simply by the mentality he has in the place he finds himself, that is, being able to offer solution to problems in exchange for money. So when it comes to the influence of crypto in poor nations, I can truly testify that with the help of crypto, many people have been able to afford a better life either through trading, p2p buying and selling and a general long term investment which we all practice. But moreover, those don't come on a platter of gold, as there has to be government favorable policies to enable people execute crypto transactions successfully.

I completely agree with this view on poverty and how cryptocurrency can help people in poor countries. It is true that even in rich countries there are many poor people. Poverty is not just about that where we live but about your mindset and ability to solve problems and earn money. We know that cryptocurrency has helped many people in poor countries by giving them many ways to trade buy and sell with others and invest for future. But for this to work governments need to have policies that support it. If they do not cryptocurrency can not reach its full potential to improve lives.

[Solokan]

In my opinion there is no guarantee for poor countries to be able to become developed countries because they are involved in crypto and I think it would be more accurate for you to mention bitcoin because in this discussion thread bitcoin maybe you mean bitcoin or not? because in general, in my opinion, crypto is all-encompassing because of course there are various types of crypto.

In my opinion, of course a country has the potential to make progress in terms of the economy if its people invest or are involved in the crypto world, but of course the most important thing is that it must be supported by the government because with the support of the government there will be a smooth flow for people to get involved in the crypto world. but of course in this case it depends on the interest of the community and the extent of the community's insight into bitcoin because of course without the insight that the community has then it is very difficult for the community to make a profit even though they are involved in the crypto world because of course the important thing is profit because if for example they lack knowledge and are involved In the crypto world, it will be very difficult to make a profit and sometimes there are even losses.

But of course, if the government holds a program so that people learn about crypto and blockchain, there will be potential for the economy to progress and the country will have the potential to continue to experience economic improvements.

However, for poor countries that adopt Bitcoin, of course there is at least the potential for the country to experience economic progress.

Whether it is cryptocurrency in general or bitcoin in particular, it will not be able to turn a poor country into a developed country. If we legalized bitcoin and relied on it to turn a poor country into a developed country, I think governments around the world would have done it a long time ago without us suggesting or giving them ideas. The country's economy can only progress and develop when people's lives improve and to do that the government plays a key role, they must find ways to create jobs and bring income to people. Meanwhile, cryptocurrency or bitcoin is just a financial market, so we should stop having the illusion that by simply investing in bitcoin, people can easily improve their lives. Because financial markets have winners and losers, and no market can bring wealth to everyone.

I agree with your opinion and indeed if we rely on bitcoin to change poor countries into developed countries it will certainly be difficult, because of the fluctuating nature of BTC and of course people will also have difficulty in buying bitcoin or other crypto, especially for poor people and this is the best way. good is as you said, that is, if you want a country to develop, of course the government in that country must create lots of jobs so that with lots of jobs, of course people will get income and if they get income, of course it will make the people's economy good and of course the country will progress because in The country has no unemployment.

and indeed, if society is advanced in economic terms, of course buying BTC won't be a problem because in the real world you already have an income and of course that will make things fundamentally better, of course won't be surprised if something happens to the condition of BTC or other crypto, for example when there are price reduction.

Yes, the point is that being involved in the world of crypto is certainly something that is risky so it is only appropriate to make a profit from crypto as a side job.

[Justbillywitt]

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Do you realize that your post is really not in line with the discussion that's going on in this thread, it is off topic. As a newbie you should go through the beginners and help section to get relevant information you need so you will understand how this forum works. You don't go about posting anything that's not in line with the topic that's been discussed in a thread. You are spamming here and it's not good.

[Adams0001]

People need to realize that bitcoin will not fix a whole country by itself. The citizens need to have that initiative to buy and hold/trade bitcoin for the betterment of their lives. The government needs to be pro-bitcoin so it can actually help a country get better economically speaking.

But if you want to take advantage of the difference between usd and say any fiat money from any country, then that would be a totally different story.

Hmmmm.. you are right that Bitcoin can not fix country economic problems on its own. People need to take action and use Bitcoin to improve their financial situation. Government also needs to support Bitcoin to help country economy grow. But if someone wants to make money by exchanging USD for other currencies that is different approach. Overall Bitcoin can help country economy if people use it and government allows it to grow but it ca not do it alone.

To be honest, I still haven't figured out how bitcoin will help the country's economy develop even if the government supports it and urges people to use it. Basically to own bitcoin, people need to have money, which means the government needs to create jobs, more jobs and motivate people to work together to create money. From there, everyone's lives will improve and will boost the domestic economy. Meanwhile bitcoin is just a currency or even just an investment asset like gold. Bitcoin doesn't create jobs, can't help attract foreign investment and build domestic businesses...so I don't think if the government supports bitcoin they can improve their economy.

You are completely correct. The government must develop job possibilities before the poor may purchase bitcoin and invest in it; you must have a source of income before you can enjoy bitcoin investment. Because if a country doesn't have money, I don't see how bitcoin will help the poor in the country. Bitcoin is a good investment that anyone who gets the opportunity and invests in it will reap huge benefits if they are patient and true to it. The government should do something to bring income to the poor so that they can do the necessary things. All impoverished people don't have time to invest since they don't have enough to eat. So if the government creates job possibilities for the poor, some of them will try to invest to support their jobs. But, for the time being, even if the government didn't cooperates, I do not see how Bitcoin will benefit the poor you must first obtain funds before investing in Bitcoin.

[Dzwaafu11]

Let's discuss crypto today and how it could help poorer countries enormously.
We all know about crypto, how it is still very new and it is very advanced by technology, but also requires a technical infrastructure which is not available in all poor countries.

It is good that you know that we need technical infrastructure before the crypto currency can be developed in a country. This is supposed to make you think and know that in a country that is poor, do you think their government will have time for crypto currency development, both technically and in other aspects of how it will be adopted by the citizens of that country? The government will rather use the few funds they have to create job opportunities for the citizens of that country.

It can help to address inequality and improve living standards in poor countries, being of benefit to everyone. 

Let’s discuss today about Crypto and how it can extremely help poor nations.

I don't see how the crypto currency will be of help for the poor because, before you enter, you need to have money to start crypto investment, so the poor cannot do this because they may not even have money to meet their needs. So how did you expect this person to think about investment? I believe he will not, so there are many ways that a government can make things good for their citizens. I feel like even if they include crypto, it should be later after they are well developed.

[Smack That Ace]

()

You are completely correct. The government must develop job possibilities before the poor may purchase bitcoin and invest in it; you must have a source of income before you can enjoy bitcoin investment. Because if a country doesn't have money, I don't see how bitcoin will help the poor in the country. Bitcoin is a good investment that anyone who gets the opportunity and invests in it will reap huge benefits if they are patient and true to it. The government should do something to bring income to the poor so that they can do the necessary things. All impoverished people don't have time to invest since they don't have enough to eat. So if the government creates job possibilities for the poor, some of them will try to invest to support their jobs. But, for the time being, even if the government didn't cooperates, I do not see how Bitcoin will benefit the poor you must first obtain funds before investing in Bitcoin.

Frankly speaking, bitcoin has huge potential, but it is just an asset or an investment and to own it we need money.

It's hard to understand when people exaggerate about bitcoin more than necessary, saying that bitcoin can solve problems for a country such as eliminating poverty, unemployment, stimulating economic growth...All of this is not bitcoin's mission nor was it created to fulfill these things. We should be realistic that there need to be many solutions to overcome and develop the country's economy and we need to make more efforts if we want to escape poverty. Don't just rely and think that bitcoin can do everything for us, it is not a panacea for the world.

[Iranus]

I agree with your opinion and indeed if we rely on bitcoin to change poor countries into developed countries it will certainly be difficult, because of the fluctuating nature of BTC and of course people will also have difficulty in buying bitcoin or other crypto, especially for poor people and this is the best way. good is as you said, that is, if you want a country to develop, of course the government in that country must create lots of jobs so that with lots of jobs, of course people will get income and if they get income, of course it will make the people's economy good and of course the country will progress because in The country has no unemployment.

and indeed, if society is advanced in economic terms, of course buying BTC won't be a problem because in the real world you already have an income and of course that will make things fundamentally better, of course won't be surprised if something happens to the condition of BTC or other crypto, for example when there are price reduction.

Yes, the point is that being involved in the world of crypto is certainly something that is risky so it is only appropriate to make a profit from crypto as a side job.

Bitcoin's volatility is not the problem, the problem is that bitcoin is just money and to get it we need money. Meanwhile, where will poor people get money to buy bitcoin? So it cannot be said that bitcoin will be useful in helping alleviate poverty or help a country's economy improve.

Bitcoin can help someone improve their economy if they know how to use it properly, but when it comes to improving a country's economy it is not as easy as improving one person's economy.

Honestly, we should stop exaggerating about bitcoin, the things it can do because it is just a peer-to-peer currency. It is not that God comes to fix everything in our world.

[bitLeap]

You are completely correct. The government must develop job possibilities before the poor may purchase bitcoin and invest in it; you must have a source of income before you can enjoy bitcoin investment. Because if a country doesn't have money, I don't see how bitcoin will help the poor in the country. Bitcoin is a good investment that anyone who gets the opportunity and invests in it will reap huge benefits if they are patient and true to it. The government should do something to bring income to the poor so that they can do the necessary things. All impoverished people don't have time to invest since they don't have enough to eat. So if the government creates job possibilities for the poor, some of them will try to invest to support their jobs. But, for the time being, even if the government didn't cooperates, I do not see how Bitcoin will benefit the poor you must first obtain funds before investing in Bitcoin.

Frankly speaking, bitcoin has huge potential, but it is just an asset or an investment and to own it we need money.

It's hard to understand when people exaggerate about bitcoin more than necessary, saying that bitcoin can solve problems for a country such as eliminating poverty, unemployment, stimulating economic growth...All of this is not bitcoin's mission nor was it created to fulfill these things. We should be realistic that there need to be many solutions to overcome and develop the country's economy and we need to make more efforts if we want to escape poverty. Don't just rely and think that bitcoin can do everything for us, it is not a panacea for the world.

Countries that need economic growth must be open to new innovations, be it bitcoin or other sectors that can add to the state treasury. The more prohibitions are implemented, the smaller the chances of getting profit from various sources. Bitcoin, gold, stocks, and various sources that generate finances must be welcomed not only for the benefit of the country but also for the benefit of society as a whole, also involved in the growth of the latest innovations.
Like El Salvador, which is open to adopting bitcoin as one part that can have an impact on the country economy and the surrounding community. They are also open to receiving offers from outside in overcoming crime there. The level of crime in El Salvador, which was originally high, has now decreased slightly because the system adopted was based on input from outside and implemented domestically.

[Obari]

The major goal of bitcoin was to help people be absolutely responsible for their money without having any government interference or what so ever.
Over the time, bitcoin has proven itself to be the hope of the common man where everyone who invest wisely is always profitable at the long run and this alone is already going a very long way to improve the society as people are already getting gainfully engaged with it and with the help of the profits, physical projects are carried out which also helps improve the society.

I also read a response from user some time ago and he said something that actually fits in here “people should expect bitcoin to solve non technical problems of country” with this, I think it’s fine to say that, even if bitcoin can make a country grow from poor to rich, it should do it at its pace and not people expecting it solve all human problems.

[el kaka22]

We could see that type of thing with many nations that focuses on freelance working as well. All around the world plenty of nations are now working in the digital world, to help with people who are dealing with something that will take a while to get there, but could make them a lot of money overall.

What we could see with crypto is that it would connect a poor nation with other richer nations, so earning could be a lot better. Making 500 bucks or 1000 bucks could be very low for USA, so a company in the USA could hire someone for 12k a year, which would be impossible to hire there, and that way they would be spending less, and people around the world could make very good income.

I understand that this would be very bad for Americans whose jobs are getting to other nations, or same for Europeans as well, but it is just the way capitalism they love so much works, if you want capitalism then you take it with everything, not just the parts you like. This is why crypto could connect all nations together, helping poor ones to get closer to richer ones, not a lot, I mean they will not suddenly be rich as a nation, but it would at least give the people a chance to live a better life that way.