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.
it cannot. Poverty is a systemic issue that something bitcoin alone wouldn't be able to fix. You're basically asking an antibiotic to solve brain cancer for you, which it couldn't do for all obvious reasons.
The fact that I was able to cash in so early in the bitcoin dream was nothing short of a lucky and I must point out, a very risky rendezvous that could've easily went to the other way, and I owe everything that I have to myself for not giving up and always believing in me, as well as my friends and family members who supported me even when I'm down. Not saying you couldn't experience the same thing, but statistically speaking, large baggers like me who are able to become rich or comfortably financed thanks to bitcoin at the very least are an anomaly that you shouldn't take as empirical evidence that bitcoin could change lives and solve poverty.
In my opinion, if you want poverty solved you must implore your government to do something about it, and from there take initiatives as well to change your life for the better. As I said poverty is a systemic problem that runs deep into society, and simply buying off cryptocurrencies on the market wouldn't solve it, you need to cut its roots down, to make sure it gets eradicated. Bitcoin alone wouldn't be able to do that.
I agree with you and I want to add that bitcoin is a long-term investment, so being a long-term investment, we are talking about that at least the person should hold it for 4 years so that there are no losses, because historically the price of bitcoin for more If it drops a lot in certain years, it still manages to recover in 4 years. So a poor person would need to have the following conditions:
1 - He would need to have money to invest in bitcoin, and when we talk about money to invest in bitcoin, this poor person would need to have a decent amount of money, something like $500 at least, it turns out that poverty in first world countries is very different from being poor in third world countries, where $500 is a large amount. The minimum wage in my country, for example, is $250. so a poor person would have to work hard to get $500 if they don't have a job
2 - He would need to have a lot of patience, and when we talk about patience, I'm talking about putting the money in bitcoin and waiting for 4 years without using it, it happens that a poor person wants an immediate solution to change their life, they won't wait 4 years . That's why if someone gives her $500 she won't invest in bitcoin, she'll invest in something else that could generate a profit quickly. maybe after she finds a business that makes a profit she could start buying bitcoin
3. Does know on how to re-invest and diversify
You would really be needing up that kind of consideration if you are really that trying to aim on getting rich on which you wont really be that limiting yourself on investing on Bitcoin but also
into other altcoins or projects that we do have in the market on which it would really be that a common approach to have.
Ending up poverty isnt something that Bitcoin could be able to globally solving it out on which it would really be needing up that kind of amount on how much you have stashed
because it would really be just that basing up overall whenever the market would really be making out some shooting up into the moon. You cant really just that expect something
on becoming rich or wealthy if your portfolio amount or numbers is really just that peanuts then its better not to make yourself that delusional if you dont like on getting frustrated.