Post
Topic
Board Economics
Re: Does Bitcoin Help The Poor
by
kolesozw
on 26/01/2021, 05:27:55 UTC
People ask why they should buy and support bitcoin.

One good reason.

Bitcoin helps the poor.   Grin

#1  BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.

#2  BTC allows immigrants to send money to families back home  Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home.

#3  BTC empowers nations with troubled economies like africa, the philippines and venezuela  It provides a means of income to help stabilize dwindling economies like venezuela's. Provides options and opportunities to those in africa and the philippines.

There are other examples but I think people might get the gist of this without them.

Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.

While #2 and #3 are true, at least to some degree, I cannot agree about #1.

If you cannot qualify for a bank account, the chances to have money and knowledge to buy and operate with crypto are very slim.