Question: How is Bitcoin helping poor people?

[bad23]

I have read many posts about Bitcoin helping the poor people in countries around the World but I would like to find out more about this.

[Ambatman]

Where have you seen such post that Bitcoin is helping the poor?
It has brought a new market, an opportunity to create wealth
My country for example is a 'developing country'
Owning Bitcoin helps in limiting the impact of inflation on idle funds
And a plus even bring more values.
It's more of an opportunity like Real estate became and would benefit those who are smart about it.   

[kentrolla]

This is a most common question but I am afraid you might not get the exact answer as everyone will have their own point of view when it comes on benefitting from Bitcoin. Bitcoin is not magic or any charitable organisation which will help poor nation or poor people it's rather an opportunity for smart people be it rich or poor to gain. It's purely through th return on investment but it wasn't meant for this purpose as it's whole concept was P2P transaction without any middleman or government organisations. Posts about getting rich or helping have popped up due to Bitcoin's valuation.

[moneystery]

bitcoin cannot be a solution for poor people in countries globally... because the solution to these poor people is jobs, education, or health services, which are provided directly by their governments. while bitcoin is only an alternative payment or investment that can be accessed by individuals, it cannot be a direct solution to these poor people. it is not a tool that can be used to be a solution to eradicate poverty.

[Ruttoshi]

I have read many posts about Bitcoin helping the poor people in countries around the World but I would like to find out more about this.

Bitcoin don't help the poor but the poor invest in bitcoin to help themselves to keep the value of the little money that they have put into bitcoin. However, if you don't invest and put your bitcoin portfolio in a good size, you will still remain poor in future.

See bitcoin as an investment that you are investing into in order to improve your financial strength in the future, so that you can take your bitcoin accumulation serious because the price of bitcoin is not that expensive compared to what it will be in future.

[Liliana1304]

The question is how will they think to invest in BTC when their most important thought is how to survive, have access to good water and good healthcare. Bitcoin was created so that people don't have to rely on these financial institutions alone but could have an alternative to conducting their financial activities without the interference of a third party but these individuals first need the money to settle their utmost priorities.

Bitcoin can't be said to help the poor, at least not directly but then that would be my own point of view as someone else would be of a different opinion.

[Dunamisx]

I have read many posts about Bitcoin helping the poor people in countries around the World but I would like to find out more about this.

Bitcoin is helping not only helping the poor countries, but every individual that has taken time in seeking for an investment opportunity in bitcoin, learn how to engage the network and understand the way it could impact a positive change in their life if they adopt the use of bitcoin in cryptocurrency, we can see from the way El-Salvador started and where they are today, we can also take a look on some prominent Bitcoin individual investors who have taken their lifetime opportunity as an advantage through bitcoin.

[DiMarxist]

I have read many posts about Bitcoin helping the poor people in countries around the World but I would like to find out more about this.

Bitcoin is not an organization that helps people but it is a digital currency which can be used to buy and sell things online. And also you can buy it and store it in the non custodial wallet for a long time and sell it to another interested people when the price is high above your purchase price. Example. You buy it at the time of $85,223.60 in this year and in 5-10 years to come, the price might hit $200,505.80 and if you see that you have made good profit from the investment. You sell them to another investor and take your money. That is how poor people make money from bitcoin.
In another way again, if the poor is very knowledgeable about bitcoin trading. He knows all the tools and skills to trade to make good profit. He can use trading to make good money from bitcoin. These are some of the ways poor people can make money from bitcoin.

[Faisal2202]

I have read many posts about Bitcoin helping the poor people in countries around the World but I would like to find out more about this.

It helped me to build my mindset about investment, like how important it is for us and why should we have an investment plan in our sight. If we want to achieve something even in the simple lifestyle we should not spend our money on useless things instead, we should invest that money into BTC for the long term.

This way I was able to create a progressive mindset in investment. Besides this investment, I started my journey in trading and content writing due to this platform and it is directly related to BTC so I can say BTC helped a lot of people, directly or indirectly, to achieve something and to make a plan to achieve.

[Lida93]

I have read many posts about Bitcoin helping the poor people in countries around the World but I would like to find out more about this.

I think you getting it all wrong as am not sure such post does exist in the forum maybe you mean you read it outside the community. Bitcoin wasn't made for the poor that we would say it's helping poor people but rather it's just like every other financial asset that is with value that you can invest in and hodl  for a specific range of time mostly long time holding to be able to make profit.

Bitcoin was made to give us control over our finance by virtue of it's decentralised nature, and also which we anyone can use as hedge against devaluation of his funds due to economic inflation. Saying that bitcoin is helping poor people literally sounds to me as though bitcoin is an aide for poor people.

Ironically, the reality is even that it's the rich that are holding bitcoin becoming whales while the so-called poor in their mentality continuously gets afraid of hodling bitcoin.

[CageMabok]

I have read many posts about Bitcoin helping the poor people in countries around the World but I would like to find out more about this.

Maybe the help you mean is help through the profits they have made through Bitcoin, either through trading or through investing in it over the years. Because Bitcoin has a fantastic value and price in the current market so that everyone will continue to be happy to have it and buy it repeatedly when there is a price drop in the market. And this is done in order to be able to make a profit in the following days so that it can be considered as a help for poor people in any country.

[Ever-young]

I have read many posts about Bitcoin helping the poor people in countries around the World but I would like to find out more about this.

If you read those post above the Op you will see comments of forum members where they will clearly state it that bitcoin can’t help the poor countries but the government of those countries are the ones who need to work on how to help its citizens, with those poor countries investing in bitcoin they might make profit from that investment but it won’t be enough to help remove poverty from the country, another thing too is that country that’s poor how can its citizens be able to afford Bitcoin.

[fikrett]

bitcoin cannot be a solution for poor people in countries globally... because the solution to these poor people is jobs, education, or health services, which are provided directly by their governments. while bitcoin is only an alternative payment or investment that can be accessed by individuals, it cannot be a direct solution to these poor people. it is not a tool that can be used to be a solution to eradicate poverty.

Totally right.
It's a tool, not a way to get rid of the main problem.
Other mechanics should be put in place first so that the person can accumulate BTC appropriately.

[Oluwa-btc]

I have read many posts about Bitcoin helping the poor people in countries around the World but I would like to find out more about this.

It's a good thing you demand to know other people points if view over Bitcoin helping poor people.And that's the same thing almost everybody is dishing out; Doing your own research(DYOR).The benefits of doing your researches saves you the stress of relying on unsolicited advice and suggestions.
Information they say is power, therefore endeavor to take responsibility for the informations you feed on.Enjoy conducting researches on your own to avoid an unbiased information sources.

[hero_the_bossman]

I have read many posts about Bitcoin helping the poor people in countries around the World but I would like to find out more about this.

It's a good thing you demand to know other people points if view over Bitcoin helping poor people.And that's the same thing almost everybody is dishing out; Doing your own research(DYOR).The benefits of doing your researches saves you the stress of relying on unsolicited advice and suggestions.
Information they say is power, therefore endeavor to take responsibility for the informations you feed on.Enjoy conducting researches on your own to avoid an unbiased information sources.

The answer would be: that BTC may help some, but mostly, other factors should be worked through in order to develop a good relationship between said people and BTC.
Because you can't accumulate BTC without a stable job and a place to be in, knowing fully well that the next day is safe and planned for you.

[Alone055]

By definition, a poor person doesn't have enough money for food, shelter, or other basic necessities of life.

Bitcoin, on the other hand, is not something that is distributed to masses for free that then allows them to sell it for $99k per coin and have their lives changed; that's not how things work. So all these talks about Bitcoin helping the poor around the world and how it makes people become financially stable, etc. These are baseless things spread around because Bitcoin is nothing but a form of money, and you can only access one form of money if you already have another form of it, and if you are poor, you don't have that. It's as simple as that.

Bitcoin is useful for those who can access it; if you have money, you can get your hands on Bitcoin, it might help you in one way or another, you might be able to get some profit on the money you have, or be able to make transactions around the world by saving money on large fees that centralized entities charge you, etc. However, if you are poor, have no money or basic necessities, Bitcoin will probably the last thing you will think about with an empty stomach.

[d5000]

There are some very specific points where Bitcoin helps / can help some groups of poor people.

In countries like Venezuela with extremely weak currencies, it's one of the few options to save a little bit of money or to help barter services to goods and vice versa.

Bitcoin (and crypto in general) can also bring access to financial goods via stablecoins and RWA to people normally outside of the public of brokers and investment banks, or in countries with restricted access to foreign currencies (Argentina).

In addition, it's a low cost (if fees aren't that high) electronic payment solution, in principle accessible to anyone (and you can't get rejected by a bank because you're poor).

Then there are more theoretical and long term effects, like the one discussed in this thread: Bitcoin could, in the long term, help to increase salaries in poor countries. It could also reduce the importance of the banking sector, increasing efficiency of the economy (which should also affect the poorer classes positively).

[Stalker22]

Personally, I havent heard of Bitcoin directly helping lots of poor people, but it has already been proven that Bitcoin can provide some additional options so that even poor people feel less limited.  For example, in some places, people dont have easy access to banks. Bitcoin could potentially let them send and receive money without needing a traditional bank account.  Also, some people think Bitcoin could be a way to protect their savings because, sometimes, a country's money can lose value quickly (due to the inflation).

[boyptc]

I have read many posts about Bitcoin helping the poor people in countries around the World but I would like to find out more about this.

Early accumulation is one of the reasons.

Next is, it's giving opportunity from these countries when they don't have something else. They either get hired to work for someone and gets paid in BTC.

It's up to them whether they will sell those BTCs as soon as they have received it, or they will hold it for a while and wait for a better price. So, that's it, it's about the financial matter that BTC is actually helping all of us.

[PrivacyG]

Define poor.

If they can afford to buy Bitcoin, then the answer is simple.  Take a look at the Bitcoin chart.  If they were able to save and invest only a very small amount of money in Bitcoin, they had a lot of opportunities to multiply their money by simply holding over the years.