Quote from: sotelorene on Today at 11:13:17 AM

Quote from: Agbamoni on December 11, 2024, 08:09:19 PM

Quote from: JayJuanGee on December 11, 2024, 06:31:16 PM

You seem to be getting over excited about your own ideas about what is poor, Justbillywitt. Of course, there is not just one level of poor, and some of us might be defining poor in different ways, and if we are defining poverty in different ways, then we might be arguing about semantics rather than figuring out thresholds in which it might be advisable or acceptable to invest into bitcoin versus not doing so.

You are correct that a person who cannot pay all of his expenses will not be able invest in bitcoin, since there is a need to have money beyond expenses and to be able to keep the money in bitcoin for 4-10 years or longer - otherwise with a shorter timeline, they would be trading/gambling with their money rather than investing... so not only does any person need to have discretionary income to be able to invest in bitcoin, they also need to be able to commit to keeping that discretionary income in bitcoin for 4-10 years or longer.

We likely realize that even poor people gamble with their money, so we cannot stop people from choosing to gamble with their money..

I am not going to try to proclaim to know all of the various levels of poverty, yet we know that there can be quite a bit of variance both in the terms of destitute that any person might have and the level of destitute will vary over time.. .so a person that is destitute may well have periods in which he has extra money that he could invest into bitcoin, yet it may well be unwise to invest, since he might not have any kind of confidence in regards to being able to continue to get income at various points into the future.

What I can say here is that. Poverty does not have a fixed state it can be fluid. Someone might feel poor because of high expenses or instability in his finances but that doesn't mean they are entirely knocked out of opportunities. There might be times when they have a surplus and times when they are only entitled to a small amount for consistent investment. My deepest concern for those in difficult states is the challenge for often lack of predictability. Even if they have extra money with them temporarily, their circumstance might make it unwise for them to commit to long-term investment especially when their future income is unpredictable.

Does it mean this set of persons should not invest in Bitcoin?

I want to believe that everyone knows what is right and what is wrong to do and perhaps they also know their capability so it will be unwise for someone to go into investment knowing fully well that he or she is not ready or capable of handling the investment and this is one of the reason why some investor end up by the way or maybe selling their investment when it is not yet due because of one challenge or the other. bitcoin is a very nice investment but is not compulsory that everyone must venture into or put oneself in a state that is not healthy all because of trying to invest in bitcoin, people should not allow what they heard about bitcoin lure them into problem perhaps one ought to do things according his or her income.

I will define poverty as the state of discomfort either financially, mentally etc. There’s no point arguing who’s more suitable to invest or who should invest rather people of such category have their choice. If such person is ignorant about bitcoin investment it’s totally different compared to others who are knowledgeable about bitcoin investment, some of the responsibilities a lot of people face is enough to drain their financial status after receiving payment for work done. So in such situation should we measure our investment plans same as theirs? Definitely no, everyone plans varies likewise my choice when it comes to investing perhaps I might prefer another strategy while yours might be different. If anyone is not financially capable to invest I will advice they work towards a different angle that can enable a healthy investment for the long run.