End Poverty And Fear Using Bitcoin Cash

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Avatar for annayks
2 years ago

Bitcoin Cash dropped a lot, I don't count the percentage but it is more than 20% since the $700 signal that looked like a buying opportunity, but was only a fake out.

Now, we are on the opposite side. What are we expected to do? Sell the bottom?

I hold my Bitcoin Cash and increase it, sending more national currency money in cryptocurrency exchanges and buying Bitcoin Cash.

I used to do the opposite for some time, but as I see this today, we are once again in an accumulation phase. Maybe this is about to be over soon and Bitcoin Cash finally escape the trend and the exchanges manipulation after finally this market started pushing demand.

But the reason for Bitcoin Cash will succeed is only the properties it contains that help its users escape some very difficult circumstances that suddenly appear in economies.

Bitcoin Cash can reduce poverty and increase our well-being.

Because no matter how low Bitcoin goes it will not be as low as the fiat currencies getting destroyed and a second notion: Bitcoin Cash will always recover.

The gov currencies have no chance to recover.

The Turkish Economy In Trouble

I read the news lately about Turkey and it is looks like this economy is about to be over soon. It seems it is an endless pit for investors since the Turkish lira can collapse another 99%, easily.

It is in a pattern of slowly adjusting and this is also helping the populist authoritarian government to keep hanging on its position by blaming everybody else for this but its own actions.

As any other regime that has taken over control and hangs to its power, this government has banned cryptocurrency. It excludes about 80 million civilians from entering assets that could be the solution to the increased poverty and the day to day devastation of the businesses and the wages of the employees.

But crypto can bypass all restrictions. Even in China still major crypto users and investors are not affected by any ban.

This should be a wake up call to those supporting a government being responsible for their money. Invest in crypto no matter the government decisions that will make you suffer otherwise. We do not have masters that forbid us from investing in an asset that can help us personally.

The fellow Turkish people must abandon this way of thinking. If you want to survive, there is solution you can use Bitcoin Cash.

Prior to Turkey, this was Lebanon that had the same problems and still has. And next was Venezuela, Nigeria and some more countries from Africa and Asia.

Bitcoin Cash is fixing this, talk to your local merchants about it. It has a very low price today, that makes it appealing. Whatever happens with price of BCH, your currency is doing worse and will never recover.

The fiat currencies do not gain price. They only drop, and you will only need more.

Buy and use Bitcoin Cash instead, anything you make put it in Bitcoin Cash, form communities and talk with bussinessmen around you.

Why not accept a better currency than one that is about to hyperinflate and fail completely?

This is what gives self sovereignty. You don't have it when your currency is about to dive into worth nothing at all.

In Nigeria and many more countries it is the same. Don't expect your currency to worth the same, it will be a struggle every day from now on. You HAVE to change your ways and convince those that are worried and affected to exit this form of financial slavery and become free to choose what you want your money to be.

Finally

Stop looking at money in the terms of your local currency. This will soon be all over, so better start living in the future.

They tell you inflation is 5% in the Philippines. Is this so?

The products you buy, the consuming goods, the items you need, and the services you use are they only worth 5% higher than the previous year?

This inflation is for the people. This is a general but not a personalized inflation. And for the most of us, it affects us a lot more than what any government announces.

Is inflation in Nigeria just 16%? The friends from Nigeria can explain. Is bread, milk, sugar, coffee, eggs, clothes, and all, just cost 16% higher from last year or have the prices doubled already?

There is a way out of poverty. But not our government's way, this is our own volition to escape this dirty politics game and be owners of our cash.

Spread the word in your communities, those that are willing to listen will not abide to the destruction of their wealth, property and money.

(*All the images are under Creative Commons license, no citation required).

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2 years ago

Comments

This is resourceful, truelly the Fiat money is becoming mor useless everyday. I hope every one be able to possess BCH or other coins before cryptos totally take over

$ 0.00
2 years ago

My question is : with the current prices of bitcoin and bitcoin cash, how does it fix poverty?

Only the rich can afford these crypto currency’s and only the rich will benefit from it.

The rich can own thousands of BCH and poor will only own dust.

If the poor, can’t afford bread and are unemployed , how they can afford BCH?

$ 0.00
2 years ago

If the poor, can’t afford bread and are unemployed , how they can afford BCH?

Those that can't afford bread need to find a source of income. Yet, where there is the most poverty, there is also high inflation. Often proverty is caused by hyperinflation. For example in countries as Venezuela, Lebanon, and most recently Turkey. The national currency loses value because of mismanagement. Those using cryptocurrency are not affected by national currency inflation.

$ 0.00
2 years ago

The reason why they’re poor at the first place is because, they are unemployed, why? Their countries have no jobs , and countries with huge population suffer the most.

Cryptocurrency not affected by inflation- great news, that’s not a problem for those who have money and can afford BCH, as for those who can’t afford BCH, slavery employment that can’t afford a decent living, with dignity, no employment, no resources to make a small store or anything to start a business, how can BCH help them.

What is the way forward to equally distribute wealth with cryptocurrency?

Cryptocurrency does not protect us from governments law and regulations. We still have to pay hefty taxes, we still have to pay hefty health care, education etc.

Looks like we need to overturn capitalism!

$ 0.00
2 years ago

Poverty is main issue of world . I encourage you on your thoughts

$ 0.00
2 years ago

I can see how this might help someone in the short term. But it is not the end game in my opinion. The truth is that people will still need more money, and so long as that is true, if it is their local currency that is received from working, or whatever other commerce they are engaged in, that "new" money will still only be worth so much. So it does not solve the long term problems that are the causes of inflation and bad monetary policy by governments. Those issues, I think, are way beyond the reach of what is essentially a currency and nothing more, to solve.

In the short term buying into say, BCH, will provide some short term stability to what a person has NOW. But what about the future?

I always find it to be a noble idea. But I think people are missing the longer term struggle. Crypto, being just a currency, cannot fix the issue of poverty.

Just my two cents.

$ 0.05
2 years ago

There are many problems, you are correct, and just one change in the way people transact will not change the fortunes of many. But it is a way out at desperate times and should be considered before the next example appears. (the next hyperinflating currency).

In the short term buying into say, BCH, will provide some short term stability to what a person has NOW. But what about the future?

I wrote that fiat does not recover. It will always be a struggle with high inflation from now on. The government money is good for a short term when for example there is a bubble formation ready to pop and someone had the courage to get out of an investment waiting for a re-entry (a dip). There is no other value in holding dollars, today. In the previous two decades money was inflating at a modest rate, and still, between this 20 years it lost 50% of purchasing power.

I have followed some of your posts previously and understand that you are a businessman. You have a great understanding of the economy and money and will try to read more from you, Porwest. Your contribution to understanding what is going on today, is gold, IMO.

We always keep some in cash for a certain emergency that may appear. Beyond that, we have to invest in land, commodities, or stocks. I don't tell to pull out our investments, but to move part of our money in a currency that is going to sustain and probably increase its price and value for the next 20-30 years. I see this as a bank account, one that I only control.

Thanks a lot for the comment, friend, I highly appreciated it!

$ 0.01
2 years ago

I understand and appreciate the ideas here, although while inflation is a product of many things, it is not ONLY a product of currencies and government regulations over it. That's just one part of it. Supply and demand are factors, as well as things that can impact production capacity and so on and so forth.

Crypto, being only a currency, cannot get away from the fact that it is simply a currency and nothing more at the end of the day.

Market forces will still force people to pay a certain amount for goods and services, and it does not matter what currency they use to pay...

They still have to pay whatever the price is for the goods and services happen to be based on the market circumstances that determine the price of said goods and services.

If chickens get sick and less eggs get produced, the price of eggs will go up and I will have to shell out more crypto to buy them. In our current situation, with the supply chain all gummed up, it is causing a lot of the inflation, and you can't get away from that either.

I get the ideas people have about crypto and can appreciate them. I am just not sure when I hear these explanations that the ones making them understand basic economics.

$ 0.00
2 years ago

There is an analogy here that you explained but do not understand correctly. Supply and demand. Bitcoin Cash has a fixed supply of 21 million.

This scarcity by design, ensures that when adoption begins (as happened for a while with Bitcoin in previous years) the price of the asset will keep rising. This is economics that I can't explain to you in a simple comment and most imporantly those that have not studied at a higher education, learn it on their own. See, maybe you don't know everything, and higher education gives an advantage you can't understand.

Anyway, this is something tought and explained with graphs and equations in economics that requires understanding of elasticity. What you wrote about cryptocurrencies is general, I'm not talking about all cryptocurrencies though. I wrote specifically about Bitcoin Cash.

$ 0.01
2 years ago

Supply and demand WILL affect the value of each coin, yes. But it has nothing to do with what the cost of goods are and how many coins one will need to buy things. That is all determined by other factors was my point. The overall value of the currency used does not matter necessarily. Inflation and deflation in the marketplace in which the currency will be used is what matters.

$ 0.00
2 years ago