What Does Bitcoin Mean For Saving, Pensions and Beating Poverty?
In a way its hard to consider the benefits of Bitcoin outside the internet. It is designed as an online currency which renders all users equal on the great market place we call the web. So it’s ideal for selling software, selling online services, digital products etc. (in the long term at least)
In countries like Greece, Argentina, Zimbabwe it becomes a freedom from a tyranny that has rendered their currency worthless. Not only that but it could be used as the currency for import. For people in poor countries, the purchase will be done in bitcoin which is the same as everyone else and then it is imported and bar import duties the cost is the same lowering the cost of living. They do still own the boarders, bitcoin wont stop that.
Now this only works if people in these countries conduct all their purchases in bitcoin, this requires hardware and the internet obviously. But a government cannot steal all their bitcoins. It cannot print themselves more to alleviate their incompetence by effectively taking it from the people (inflation).
Because that is what happens when inflation goes up, essentially the government steals the value off the people and the value of their savings goes down. Bitcoin means you can actually save your money.
Think about it, bitcoin is going up now, in the current climate that is good for savers. Bitcoin will eventually slow in its incline but with an finite number of Bitcoin’s to be mined eventually the rate of climb will slow. As long as there is a population growing and therefore users of bitcoin growing as the market increases due to convenience, you will only make positive long term gains. This is good for savers, good for pensions, good for humanity.