How can we end the poverty in the entire Africa (especially the sub-Saharan Africa) with the new cryptocurrencies that have the high growth potentials like Bitcoin?
We see the bitcoin as some sort of the savior against the conventional never-ending inflations triggered by the vicious and lethal weapon of mass destructions from the central banks around the world, especially the FED of the USA. I’d like to share some key observational insights about Bitcoin and the altcoins here.
Let’s start with some key observations to push my ideas further.
- In most parts of the world, the poor people are the vast majority of the global population. Out of almost 8 Billion global population, at least 5 billions of people are poor.
- In Africa, out of over 1.3 Billion population, at least 1 Billion of them are in poverty and the vast majority of them are in extreme poverty.
- to the vast majority of the citizens of the poorest 50 countries on earth, their average annual incomes are just around $1,000 USD. For them, $10k USD will be like their 10 year salary.
- Since its birth, over the past a dozen years, Bitcoin has grown about 1 Million times in 11–12 years. This amont can literally end the poverty in the entire African continent in mere a decade.
- So if you had bought $100 worth BTC 11 years ago, now your wealth will be over $100 Million USD ~ $10⁸. So if you distribute this to the average people by $10,000 ~ $10⁴, then you can distribute $10,000 to about 10,000 people.
- If 1 Million people had bought $100 worth BTC about 11 years ago, then that total worth would be about $100 x 1 Million people x 1 million times growth ~ $1 Trillion x 100 ~ $100 Trillion USD ~ $10¹⁴ by now.
- This $10¹⁴ is distributed equally with $10k USD for each, then this $10k USD can be redistributed to 10¹⁰ people ~ 10 Billion people which is larger than the current world population.
Based on these key observations, let’s suppose that a visionary group of pioneering people just created a new baby cryptocurrency that may grow 1 million times in about 1 decade, just like Bitcoin.
To the vast majority of poor people in Africa of the population 1 billion people, if $1 USD of the new generation of Bitcoin with the potential to grow even 1% of the Bitcoin growth which is like 100k times over the next a decade is distributed for free and if this cryptocurrency indeed grows 1 million times in a decade, then the total value of this will become $1 x 10k times growth x 1 billion people ~ $1 x 10⁴ x 10⁹ ~ $10¹³ ~ $10 Trillion USD.
If this $10 Trillion USD is distributed equally the value of $10k USD, then each of the recipients will receive about $10¹³/$10⁴ ~ 10⁹ ~ 10 billion people which is larger than the entire global population.
If we are only interested in distributing to the 1 Billion poorest African population with the donation of $10k USD per person, then the $10 Trillion USD will do the job.