Quote from: TimeTeller on November 04, 2023, 11:50:27 PM

Quote from: Dr.Bitcoin_Strange on November 04, 2023, 10:13:06 PM

Quote from: Sophokles on November 04, 2023, 05:13:25 PM

If bitcoin's role is only to be a store of value like gold then it will not be able to assist the poor anyway. It already has a limited supply and if most of its supply is stored in a non custodial wallet by few percent of the world population then how will other people take part in it? Bitcoin needs to keep circulating in the market with local businesses so that it becomes a medium of value transfer. It doesn't matter if it needs to be bitcoin it can be something else and what i think is that bitcoin shows us a pathway of how it can be done where peoples financial freedom will be in their hand not controlled by few banks or asset managers.

Yes, mate, there is a lot of money in this world. What I mean is that in our individual countries, we have different local currencies and a huge supply of them compared to the Bitcoin supply, but yet there are still poor people. The question is, why has the money not been able to help them? We work to earn money, and we earn money to invest in Bitcoin depending on our choice, so if one invests in Bitcoin, the reward is profit generation in due season, but if someone doesn't invest in Bitcoin, they cannot depend on it to get profit. So, what I think is that Bitcoin can help those who invest in it make a profit.

We can't expect all people to invest in bitcoin because up until now, the population who are into btc or crypto is still small as compared to world population.
Also, they have other investment options that they are looking at like stocks, real-estate, precious metals and other tangible assets.
So we can't speak for the most of these people when it comes to their preference of investments.
But for those who are already bitcoin holders, for sure, they will find it favorable later on once they are seeing the price is steadily increasing.

We have more than 700B people and even if 300B of them start using bitcoin network do you think all of them will be able to accumulate enough bitcoin for them when big institutions are accumulating bitcoin which is not going to get out of their wallet very soon? That means those coins will stay out of the circulating supply for a long time which increases scarcity more than ever.