Quote from: ahkiatt on November 16, 2017, 06:41:47 AM

Quote from: amla on November 16, 2017, 06:33:04 AM

Quote from: ahkiatt on November 16, 2017, 06:25:20 AM

If you believe in bitcoin or whichever cryptocurrency that takes over as the leader of this space as a store of value and means of accounting, it will help alleviate some symptoms of poverty.

Without having to store fiat in a bank or other financial intermediaries, one minimises his risk of being "robbed" of his money should our current financial system encounter another crash and these banks collapse.

Another angle you can look at is the accessibility of investment products for the "less wealthy". In most countries, setting up an investment account comes with administrative fees, minimum investment sums that will deter the young adults with limited savings or the poor. Crypto exchanges in this competitive space mostly charge low fees, and participation in token sales/ICOs cost a fraction of traditional IPOs, and offer potentially much higher returns. This provides an attractive avenue for young and less wealthy investors to park their money.

Of course this is an optimistic view of crypto markets, things can go very wrong in the near future.

Indeed, Bitcoin will decrease the rate of poverty in the whole world but it will take more long time because this a major problem in most of the countries and bitcoin is the main way which can reduce the rate of this problem because bitcoin is giving chances to all type of people in the world of jobs which can earn money by setting in their home.

Sadly, poverty is a multi-faceted problem caused by politics/corruption, lack of quality education, access to a reasonable job market and more. Bitcoin and other altcoins at the end of it all are just tools to HELP solve these issues, and not the full solution.

I agree. Solving poverty is quite complicated. Although that bitcoin may help in alleviating poverty, it won't totally eradicate it. We have to look at the root of the problem. There's a lot more factors into it such as the structure of society and economy which prevents solutions such as this to totally get rid of poverty. There will still be a presence of poor if we continue to have corruption and unfair distribution and treatment in the world however this is the sad reality.