Post
Topic
Board Bitcoin Discussion
Re: Crypto can help poor nations a lot
by
legendbtc
on 16/08/2024, 15:05:31 UTC

So if you are a poor nation, trusting your fiat will not help you, whereas trusting bitcoin will. How and Why? Because if you hold that poor nations fiat then it will go down and that will make you poor, whereas if you hold bitcoin then that will go up and it will make you richer. This is why I believe that we are going to end up with something that would benefit the poor nation citizens a lot.

But I want to ask you, where do poor people get the money to invest in bitcoin? If they have money to invest they will not be poor and they can do business or invest in other fields, bitcoin is not the only investment that can generate profits.
What we are talking about is how to improve the poverty of a country and clearly bitcoin or any asset cannot do that. As many people have said above, to escape poverty we need to have a job, have income...and then use that income to create more wealth. Bitcoin does not create jobs or income for people, so how can it solve the problem of poverty or help a country's economy improve?

Furthermore, bitcoin is a financial market, which means you can either make a profit or you will lose money investing in it, there is no guarantee that people will make a profit just by investing in it.