Why I love crypto ?

[JaanusRaim]

I conclude that crypto is a democratic/communist/Christian enterprise in the following reasons:

1) its starting capital is for free - crypto is given away for free using the lottery principle for example from FairMillions;

2) it has exceptionally clear reputation determined fundamental value (look at for example John Palmer article "What if Everyone Had Their Own Cryptocurrency?");

3) it is exceptionally volatile - that means that the profits from detecting undervaluation and overvaluation relative to fundamental value are bigger;

4) it is exceptionally secret - that means you are really free to make your crypto investments (the principle "secrecy means freedom" that is centuries misused in the field of elections achieves its true meaning in the field of cryptocurrencies);

5) it is exceptionally liquid - it is very easy, fast and cheap to buy/sell cryptos.

All the abovementioned advantages give extraordinary power to the Warren Buffett quote that the (stock, crypto) market is a device for transferring money from the impatient to the patient (from those who need it less to those who need it more).

Is crypto created to help the poor ?
Yes, it is.

[jossiel]

Is crypto created to help the poor ?
Yes, it is.

We might be sound biased but that's a good point and conclusion although it's just part of it that crypto is for everyone. The rich and poor but it benefits more the poor when they have been so early with a good project to invest with like holding BTC in the early days.

And as for the #1, it's not free to start with. Yes, some projects might be for airdrops and they won't cost anything but you mostly found those worthless tokens if they're given for free.

[rat03gopoh]

I conclude that crypto is a democratic/communist/Christian enterprise in the following reasons:

You must specifically mention which cryptocurrencies meet criteria 1 through 5. Some cryptocurrencies fail to prove their worth over the long term, in terms of decentralization, value, liquidity, etc. Numerous protocol changes, internal decisions, and regulations along the way significantly impact their business models.

Is crypto created to help the poor ?
Yes, it is.

Make them rich? Not entirely. But poor people still believe that. They simply gain access to limitless income opportunities.

[SamReomo]

Is crypto created to help the poor ?
Yes, it is.

No, you're wrong, crypto wasn't created to help the poor but it was created as a way to send payments without any centralized control. Bitcoin is decentralized and Satoshi believed that a payment system free from centralization should be there and that's why he created Bitcoin. I know many people's lives changed because of Bitcoin bu it wasn't created to help the poor but to help the whole economic classes.

[JaanusRaim]

They did not give us a fish, they gave us fishing equipment.

The only question: was it deliberate or not ? What do you think ?

[rat03gopoh]

They did not give us a fish, they gave us fishing equipment.

The only question: was it deliberate or not ? What do you think ?

Slightly incorrect, they won't dictate from the start whether you have a fishing rod or a fish. It's actually a choice; and what's often overlooked is that they're actually making you the fish.
In the context of trading, if you choose a fishing rod, you'll do everything yourself; if you choose a fish or become a fish, you'll be solely dependent on signals, automated bots, AI, etc.

[jcojci]

Bitcoin helps in the payment system without waiting for too long and can across the border. We can imagine that our banks still need days before the money arrives at the receiver although now banks can do that shortly for local transactions in the same country.

Too much bureaucracy if we want to send a large amount of money to other receivers and needs time but Bitcoin can cut out the unnecessary things and the money can arrive shortly.

Deliberate or not, we enjoy using Bitcoin and earn money from that

[CONVOAI]

You have shown volatility as an opportunity but that the same volatility also create big risks for many small investors. It takes experience to spot undervaluation and it takes information to understand overvaluation and which is not everyone has equally. So crypto can transfer wealth but it does not always work in favor of the poor. Many times inexperienced people also lose.

[Oshosondy]

Is crypto created to help the poor ?
Yes, it is.

This is not completely true because if the poor does not invest, they will not be rich.

Another thing is that a rich person can invest in a wrong coin and lose huge amount of money that can make him become poor if he is not careful. Crypto is like gambling, it is better to be wise with it. Some crypto projects are scam.

If it is bitcoin that you are specifically talking about, my reply would have been different because it is a good coin that has store of value.

[Finestream]

Is crypto created to help the poor ?
Yes, it is.

No, you're wrong, crypto wasn't created to help the poor but it was created as a way to send payments without any centralized control. Bitcoin is decentralized and Satoshi believed that a payment system free from centralization should be there and that's why he created Bitcoin. I know many people's lives changed because of Bitcoin bu it wasn't created to help the poor but to help the whole economic classes.

In addition, bitcoin is not a guaranteed way to get out from poverty and is even a high-risk form of investment, which if invested blindly, a poor investor could end up getting poorer. But if a poor investor seeks for long-term profitability rather than short-term quick source of profits, I should say bitcoin is a perfect investment given that the investor itself knows the high volatility and uncertainty of bitcoin price.

Originally, bitcoin isn't made for financial gains but rather a way to achieve financial freedom away from the shadows of government and banks or any third party. But since bitcoin isn't globally adopted yet as a daily or alternative currency, and so people have used it first as a profitable tool for investment.

[tvplus006]

...All the abovementioned advantages give extraordinary power to the Warren Buffett quote that the (stock, crypto) market is a device for transferring money from the impatient to the patient (from those who need it less to those who need it more).

I agree with Warren Buffett that this redistribution is going from the impatient to the patient. But this is not a prerequisite that this money will be redistributed to the pockets of those who need it most. More often the opposite happens, the rich get richer, and the poor lose their last money trying to earn it.

[Rruchi man]

Is crypto created to help the poor ?
Yes, it is.

Crypto was created more to create equal opportunity for everyone, with the primary purpose of being used as currency. It appeared it gave freedom to people to make transactions freely in different locations and also an opportunity to invest. This opportunity to invest is what the poor can take advantage of because, unlike some other investments, you do not require a lot of money to be able to start an investment in Bitcoin; you can start with the little you have and slowly work up the quantity you have invested through regular deposits.

So it was not created to help the poor exactly, but it is helping the poor.

[Smartprofit]

I believe cryptocurrencies (Bitcoin in particular) were created to bring greater financial freedom to the world. Freedom, in my view, doesn't mean helping the poor. Freedom means the ability to make your own decisions (without coercion from others). Freedom also means more financial opportunity. 🙋

The creation of various cryptocurrencies has led to increased opportunities for different people. Some poor people have indeed become freer and more financially independent as a result.

At the same time, it's worth noting that cryptocurrencies have actually redistributed wealth from less intelligent people to more intelligent ones. And from less patient people to more patient ones. Unfortunately, not all poor people have been able to get rich with cryptocurrency. And now, in my opinion, this window of opportunity is gradually closing.

[savetheFORUM]

They did not give us a fish, they gave us fishing equipment.

The only question: was it deliberate or not ? What do you think ?

Slightly incorrect, they won't dictate from the start whether you have a fishing rod or a fish. It's actually a choice; and what's often overlooked is that they're actually making you the fish.
In the context of trading, if you choose a fishing rod, you'll do everything yourself; if you choose a fish or become a fish, you'll be solely dependent on signals, automated bots, AI, etc.

Maybe he is only basing what he said on the bible? You know that one phrase that can go like this  >  ''Give man a fish and he will fish himself forever''. Not sure if I got that correctly though but that is only what I remember, and I am not even sure if it was truly a fish but I can also remember a bread too lol. But yeah, what you said there is correct too, I mean on most part of the crypto because almost everyone now treats it like a business.

In the context of trading, crypto traders will still need to pick a crypto coin for trading. So they can still be a fish here and the rod is the owner of those coins. But it can be less risky than if we are too reliant on someone else, or if we depend on the signals, bots, AI's, etc... It is where the fish can easily get snatched by a hook of the fishing rod.

[Odogwu-Blockchain]

All the abovementioned advantages give extraordinary power to the Warren Buffett quote that the (stock, crypto) market is a device for transferring money from the impatient to the patient (from those who need it less to those who need it more).

Is crypto created to help the poor ?
Yes, it is.

From those who need it less to those who need it more, I love this statement because I am currently seeing this among my friends and business clients. These guys do no reserve their Bitcoin, they immediately sell all for Fiat and stay without crypto.

They are not traders, but they receive crypto from business and sell off immediately received..

Sometimes I wonder why they behave this way, I came to conclude that they doesn't value Bitcoin enough.

[Iranus]

Is crypto created to help the poor ?
Yes, it is.

Bitcoin, or crypto in general was not created to help the poor.

Like all other financial markets, it creates and offers opportunities, and these opportunities are available to everyone. And those who know how to seize opportunities will benefit.

Bitcoin was not created to help the poor, eradicate poverty or save an economy on the verge of default. If you want to escape poverty, you need to save yourself, no one else can save you.

[WatChe]

Bitcoin, or crypto in general was not created to help the poor.

Like all other financial markets, it creates and offers opportunities, and these opportunities are available to everyone. And those who know how to seize opportunities will benefit.

Bitcoin was not created to help the poor, eradicate poverty or save an economy on the verge of default. If you want to escape poverty, you need to save yourself, no one else can save you.

Bitcoin provides great opportunity to people to improve their financial conditions. We have seen that people who have invested in Bitcoin in its early days of launch and kept it for long duration have got massive profit. Now the price has gone high but we don't how high Bitcoin price will go in coming 10 years and that is biggest reason to invest in Bitcoin right now. If you don't have money to buy one complete Bitcoin then you can follow DCA strategy to buy in chunks and that will also help you in getting good profit over a period of time.

[knowngunman]

I conclude that crypto is a democratic/communist/Christian enterprise in the following reasons:

1) its starting capital is for free - crypto is given away for free using the lottery principle for example from FairMillions;

I will never agree with this point. It's starting capital is never free, not even with FairMillions because you need to make initial deposit to be able to participate. Moreover, FairMillions is more or less like gambling because there's no guarantee you'll win a lottery to receive free coins. The only difference between FairMillions and gambling is your capital which is always safe in FairMillions.

Is crypto created to help the poor?
Yes, it is.

I'm interested to know how crypto was created to help the poor.

Of course, crypto helps the poor but that's a different conversation in another direction. It wasn't created to help the poor. As far as I know, it's for everyone who care about their financial freedom and does not trust the banking system because they obviously can not be trusted.

And by the way, why is this thread on Trading discussion board instead of beginners and help board? 

[JaanusRaim]

I conclude that crypto is a democratic/communist/Christian enterprise in the following reasons:

1) its starting capital is for free - crypto is given away for free using the lottery principle for example from FairMillions;

I will never agree with this point. It's starting capital is never free, not even with FairMillions because you need to make initial deposit to be able to participate. Moreover, FairMillions is more or less like gambling because there's no guarantee you'll win a lottery to receive free coins. The only difference between FairMillions and gambling is your capital which is always safe in FairMillions.

Is crypto created to help the poor?
Yes, it is.

I'm interested to know how crypto was created to help the poor.

Of course, crypto helps the poor but that's a different conversation in another direction. It wasn't created to help the poor. As far as I know, it's for everyone who care about their financial freedom and does not trust the banking system because they obviously can not be trusted.

And by the way, why is this thread on Trading discussion board instead of beginners and help board?  

You do not believe in FairMillions. I fully understand you - I did not believe in it too. FairMillions (and every other source of free crypto) seems impossible in the context of old economy based on vulgar materialism. The keyword: Attention Economy.

Answering to your questions:
No, you do not need to make initial deposit to be able to participate
No, FairMillions do not demand gambling if you do not want to gamble. Yes, there is no guarantee you'll win every single lottery game - but because of The Law of Large Numbers it is not even necessary to win every single game to receive free coins.

I am a big fan of point 1 (the principle that starting capital is for free in crypto) and I think that it is more important than it feels in the first glance. It is a revolutionary step that the rich (those who are born rich) do not understand.

Is is possible that there are situations where you do not find a few hundred bucks for starting to invest something you truly believe ?
Yes, it is.

The principle of free starting capital is somehow similar to sdr (deposit packaging).

sdr (the bottle deposit system) has remarkably alleviated the slavery of the poor. Now, in the presence of sdr everyone has at least the basic basic level he/she can start - there is no penniless person in the presence of sdr.

For the rich sdr may seem insignificant because the income from deposit packaging usually (but not always) remains below the minimum salary...
But sdr has one important advantage: extreme flexibility.
If you have not visited the bottle bank many days (weeks, months or even decades) and are now offering your services (empty bottles) - no-one says "Where you were all this time?! We do not need your services any more." 

Is is possible that there are situations where 3-5 usd per hour truly guaranteed income from deposit packaging save lives ?
Yes, it is.

sdr has quietly, very quietly made more than centuries long discussions about ending the poverty.

[Frankolala]

Bitcoin provides great opportunity to people to improve their financial conditions. We have seen that people who have invested in Bitcoin in its early days of launch and kept it for long duration have got massive profit. Now the price has gone high but we don't how high Bitcoin price will go in coming 10 years and that is biggest reason to invest in Bitcoin right now. If you don't have money to buy one complete Bitcoin then you can follow DCA strategy to buy in chunks and that will also help you in getting good profit over a period of time.

Bitcoin is an open opportunity for all to invest into and benefit from it in future. I have always explain this to my younger brother and friends, some are investing and some don't care about tomorrow but only today which make them turn deaf ears on me. However, that doesn't mean that I'm wrong with what I'm doing. In the next ten years, they will regret it.