Quote from: Mauser on Today at 02:36:05 PM

Quote from: adultcrypto on November 01, 2023, 04:12:00 PM

Bitcoin offers unique opportunities for people who want to make decent amount of money and I have the feeling that if these people start investing in Bitcoin, we will see a rapid decline in global poverty. What do you think?

I am not sure if Bitcoin alone is going to solve the global poverty problem, it might be too much pressure on one single asset class. Don't get me wrong, Bitcoin is a great investment and everybody should add some to their portfolio. But what kind of return do you need to get millions of people out of poverty? I think it's too much to ask of bitcoin and could lead to disappoint if the expected returns are not delivered. The main problem for poorer people is that they don't have any money to start investing in the first place. One single purchase of bitcoin for 100 USD is not going to be enough to make people rich. This requires a constant form of saving and many people struggle to keep it up. In my opinion it would be best to try and educate people first on how to save money consistently. There are two ways to get more money, either by getting a raise and increase our monthly income, or by cutting back expenses. Trying to reduce unnecessary expenditures is a good way to have more money to invest each month. The second step is than to find a good asset to save money in. Bitcoin is definitely a good idea, but I would also consider spreading the money out into other assets to reduce the risk of our portfolio.

In short, it impossible to get rid of the global poverty, even a decline won't happen. For me, bitcoin is treated as an asset and it takes some money for you to acquire it. The families that can be treated as poor or inside the poverty line won't prioritizing spending on such asset like bitcoin, their first priority is the necessities that can help them survive their daily lives. Another factor why bitcoin isn't the solution for global poverty is the education that the poor receives. Imagine, majority of the poor don't have financial literature, what more about bitcoin or over all cryptocurrency?