Poverty the hindrance to bitcoin mainstreaming

[Brand1 1336]

Frankly, the field of encryption and cryptocurrencies is one of the things that most eradicates poverty by working people in the sites that pay these currencies, which have a very high price, but unfortunately there are a large number of people that they do not know because countries prohibit and prevent this currency

[magd 5231]

Certainly poverty is the obstacle that stands in the face of the spread of cryptocurrencies in some countries and societies in terms of the possibility of providing internet services to work in encryption and the ability to exchange those cryptocurrencies and many of the transactions that need to provide financial capabilities

[Ms.o 3322]

You have a point. Not all has the capability to deal with crypto,especially those low class people as they are not literate enough with technologies and not having enough money to invest and make grow of it by crypto.

[kizz 3370]

Bitcoin is very helpful especially if someone wants to have an extra income like me because of tons of expenses in our everyday life, and I am very thankful to crypto because it really helped me a lot.

[Zezo 306]

I agree with you, but I do not think poverty is the cause. Rather, the international sanctions imposed on most countries of the third world. Even if they have internet, there are a lot of blocked websites.

[Rezort 846]

Poverty is something that always will exict because there was no moment in history when government of the country would have done genuinely everything to prevent it.

[BrolySSJ 7899]

This does make sense, but i don't think that this is hindrance to the mainstreaming of bitcoin. I think that as much as you are correct in the sense that poverty would need to be dealt with before bitcoin can be used by everyone, and these people will have to have access to online services to use crypto, i think that the first step in mainstreaming bitcoin is to educate these poor people on crypto to encourage the willingness to use it. This is the first step and that is to break that barrier and make people want to use crypto.

[Ridam 7455]

On 2/7/2020 at 8:36 PM, Mandoy01 said:

Hi guys I am back again and this time I will share my opinion on why is poverty a hindrance to bitcoin mass adoption or mainstreaming.

 

Some would say that bitcoin can alleviate poverty and that is true since a lot of jobless individuals are now earning somehow just like in this forum because bitcoin emerged. Bitcoins existence has open the path towards the cryptocurrency revolution and thus many online earning opportunities are being offered to the masses.

 

I dont deny that but let us look at the bigger picture. In third world countries where there are countless of homeless and poor individuals who have not used even a computer or a smartphone before is not a common site. Much worse there are many communities have no access to electricity and internet, so much more to buy a computer or a smartphone. Also this is not a reality on third world countries there are also some smaller presence of that poverty in first rate countries all over the world.

 

If we want to make bitcoin really be used by all people, to be able to replace fiat then we should first eradicate poverty.

I totally agree with you bro, i am also from third world country and there are people that even doesn't know what Bitcoin and Crypto currency is. There are places where electricity hasn't reached yet and internet and mobile are very costly for those people. So  if they get access and knowledge about Crypto then only poverty alleviation is possible otherwise  they will always be back.

[deepown 0]

On 4/10/2020 at 1:05 PM, chrislynn said:

What do you mean poverty hindrance. What does means as this. It's my experience that whether it is crypto market or forex trading only big investors earns huge money from these market. Poor remained poor because they have not investment for these kind of funds. 

He mean that the poor are the ones that hinder the economy of the crypto, something that i do not agree with.

[Raqeebzy 6456]

Bitcoin and other cryptocurrency is providing a good earning opportunities to individuals by different forms, trading, bitcoin mining, bounty hunting and investing are the main ways. 

[BitcryptoHan 2557]

I believe this, some people wish to buy and hold bitcoin but did not die to poverty. Some people are unemployed and which to buy bitcoin. The more money people are having the more will be more bitcoin adoption. 

[Thekingcallme 1975]

Bitcoin is an excellent currency in reducing poverty and unemployment around the world and everyone is able to invest and trade in the currency independently

[Nezar 7169]

What you say is true, and I agree with you that the poor and the homeless are a very big obstacle to the bitcoin currency all over the world. Therefore, if we want to make the bitcoin currency instead of paper currencies, we must first seek to teach the field of encryption to the poor.

[DokAgsikap 145]

On 4/17/2020 at 9:42 PM, Jabed00089 said:

Bitcoin is a digital currency. First we have to eliminate poverty.  A lot of money can be earned by converting bitcoin into fiat currency.  With Bitcoin, we can eliminate our poverty.  Thank you

Poverty can be cure, if the person is willing to change his habit, become hardworking, taking many risk and becoming financially educated.

[Brushless4500KV 4214]

No, poverty can't affect the adoption of cryptocurrency because poor people don't have any internet connection and are not well-educated in terms of computers to be able to create wallets and use crypto. They don't even use electronic fiat currencies. The only money for them is paper fiat. The biggest hindrance for global adoption of bitcoin is that it is not trusted by governments as a real currency. People think only currencies approved by banks are legit. If they change their minds about crypto and use it more than fiat, the whole society will have to provide the necessary infrastructures for crypto growth.

[Ayush Singh 1175]

Yes exactly i totally agree with you our emotions and thought says that poverty can be decreased by adopting bitcoin but at the same time adopting bitcoin has a negative impact also in some countries which we haven't noticed of so we need to judge by both the sides.

[Laboni 755]

Although poverty is an obstacle to the mainstream bitcoin, it is possible to eradicate poverty by investing in bitcoin. I need enough capital to invest but if I don't have capital then we can make money by posting every day in the crypto talk forum which is helpful to alleviate poverty.

[Honny143 13612]

Now so many peoples attract bitcoin because they watch videos in YouTube and know about crypto, present everyone have their own smartphones and internet also low cost, so unemploye peoples entire in crypto to earn money because in crypto so many free option available to start work in crypto.

[BitcryptoHan 2557]

15 hours ago, kusvuw10 said:

actually to use cryptocurrency. It requires certain economic conditions such as used equipment or initial capital so for some poor countries it is not possible to meet everyone. especially in African countries, many places really don't have networks

Some even have network but they are poor, i noticed something just of recent, that the poorer a nation is, the less amount of cryptocurrencies they are holding or bought in general. So, there is just a connection between wealth and crypto adoption. 

[Captain Karim 0]

I do not think that there is any relationship between Bitcoin and poverty, Bitcoin does not support the poor or third world countries, whoever Bitcoin wants to mine or buy or trade to increase his money, Bitcoin is not free money for the poor.

[Shaza Ahmad 1682]

Unfortunately, the elimination of poverty does not take place in this way, and the governments of the poor countries do not seem to intend to eradicate poverty. I see one reason for the spread of poverty, which is corruption. Bitcoin and cryptocurrencies can do nothing in the face of corruption of power.

[Upright 2688]

I don't go to that, to which that Crypto coins was actually created on aiding poverty, as  from the Genesis block on bitcoin, it's was kid of like a Chancellor for banks and the rest continues. But the use if Cryptocurrencies has from it's multi usage tend to cope on removing poverty too

[pablomarwan 3082]

Yes, important points that reality has avoided here, that most countries in the world adopt a common financial system, that is to say that they can create a problem. And this area only needs time and patience, then you will start to grab a monthly salary which is pretty good at first until your conditions improve.

Edited May 11, 2020 by pablomarwan

[Saj555 2250]

Cryptocurrencies have a great scope to erase the level of poverty. The people who just have faith in crypto world can actually earn good profits. The bitcoins are the great source of the cryptocurrencies. And maybe through the cryptocurrencies a lot of people can now make their living and endure the rate of poverty from the world. 

[Whited35 15285]

I have quite different opinion in this regards. Yes , we need internet connection and devices to be able to send or receive cryptocurrencies. Even in third world countries( As you said), I do not think like it is so hard to have a smartphone and data connections. I think crypto can uplift life even from the small steps just not only wealthy people are getting benefits from cryptocurrencies so many poor people have also shifted their life into the next phase.