Post
Topic
Board Economics
Re: Do you think Bitcoin can end poverty? In a nation today
by
bangjoe
on 02/04/2023, 10:57:05 UTC
For me proverty is not the problem of a person but of the whole nation in my country the eradication of poverty has becomes necessary for the sustainable and inclusive growth of the let state the fate here Bitcoin has helps the poor by Increasin their savings and access to capital also it has help around 1.7million people in my country and also it has also impoverished people to control their investment.

You need to know that bitcoin does not save the poor, but the correct logic is that they save themselves by using bitcoin. Basically you won't make bitcoins if you don't work, I guess that's a simple sentence, the point is if you don't improve your ability to get a job or business that can make more money then how can you have more bitcoins, it's just maybe to become a daily bitcoin trader which I can't really advise you.

If you want to invest in bitcoin, it's best to use money that you don't use for food and outside of your basic needs. in fact, it would be great if people invested in bitcoin using money that he is free to use. Bitcoin can indeed help poverty, however, if we don't use it wisely, then it can be a negative thing for us.

It’s impossible for this criteria to be met because people on poverty has sufficient money for their food or else they are not categorized in poverty status. Bitcoin is not for people that has no money for spending other than their food because Bitcoin has high volatility that makes poor people gamble for there life. Bitcoin investment is only good when you are using extra money that you can afford to lose.

I’m not depriving poor people but introducing Bitcoin to them will just make their life more miserable when shit happened to their money.

I think your words are quite logical, and indeed poverty is still poverty if you don't make improvements or increase your abilities so that you have better capacity to do work or business, say or suggest to poor people to invest in bitcoin with an economic situation that only meets needs from day to day is certainly not a wise decision, because investing in bitcoin must have cold money or money that is not needed in the near future.