Bitcoin Forum

Just see the bitcoin price climbing so high. 1900$ is a very high amount and not many people can now afford to buy a single bitcoin. Also those who are earning bitcoin will now get less bitcoins like before some pay you 10$ it was 0.01 and not it is just 0.005 (same 10$).

In short, Will bitcoin will only be in the hands of rich in near future ?

nobody is forcing the "Common Man" to buy 1 whole bitcoin. there are 8 more zeros after the decimal point and they can choose any amount they want to buy.
1BTC= 100000000 sat

and besides there should be a difference between someone who didn't listen to the FUD of others and bought when it was cheap and someone who did listen to FUD and didn't buy or sold his coins.

the common man will be the very last man on board no matter what happens. he's had years but if he can't recognise the value then that's his problem.

at some point bitcoin's main unit of measurement will change, or it really should for practical reasons. then it'll look like a bargain again to people who ain't too bright.

I agree, if 1 bitcoin is too much for a common man, then he can buy satoshis.  The creator of Bitcoin had seen this problem so he created Bitcoin with 8 decimal point.  He knew that time will come bitcoin will increase and price and regular people will be having a problem to buy the whole bitcoin, and sets it with 8 decimal places to the right after the dot.  So people today can still buy bitcoin as cheap as less than $1  in form of satoshis.

You are right.  Every one can have some portion of bitcoins but having a full 1 bitcoin will be a rare thing in the near future. Just like everyone has cars but Few can afford BMW  :)

So I would suggest gather as much bitcoins these days as possible before it reaches out of reach (Like 10K Dollars per bitcoin  ;))

It will absolutely never be "out of reach", no matter how high it goes.  That's a complete logical fallacy.  The only case in which it'll be "out of reach" is if the transaction fees are higher than the amount a person buys, which is very unlikely to ever happen.

It's just like saying "I will buy an ounce of gold, but if an ounce of gold's price goes up I won't be able to afford gold anymore".  No, you just buy a tiny bit less gold.  It's only about whether the price will go up further again in the future.

i know what you are telling here but this is good for distribution, because if one person can only afford a tiny fraction it mean that you need more people to buy the same amount of coins as before, nothing bad about this, it's not only helping the rich, but it's helping bitcoin adoption

I don't think so, really.
You see, we have many different ways to get bitcoin, not just by buying in the market.
You can trade, gamble, play casino, join HYIP etc.
If you don't like risk, you can work for your bitcoin, as freelancer (if you have some skills like programming) or simple by collecting faucets or writing fort signature campaigns.
I think that still many people will be able to collect bitcoins, but just in different way.

It is not out of reach of the "common man". The beauty of bitcoin is that you can buy very little amount usually 10-25 dollars to online exchanges and hold it. Many people have learned only how to keep their bitcoins safe,are not tech savvy  and are focusing on buying 5-10% of their monthly salary every month and holding it. I am trying to copy them as they are the smartest persons according to me.

Yes, buying an entire BTC becoming harder goes within the package. What did you expect? Owning 1 BTC has to be something specially because there will be 21 million ever. Count the amount of people in the world and do the math. It's obvious sooner or later 1 BTC owners will be part of an elite of holders.

This doesn't mean anyone can buy smaller amounts.

It's like claiming gold is out of reach of the common man because the common man can't buy 1 ton of gold.

No, because nobody is forcing you to buy 1 whole bitcoin. You can just buy BTC0,1 or even BTC0,01. So even the poor can buy bitcoin and i will never be out of their reach. Maybe in some years the bitcoin value will increase so much that we will start using satoshi.

Thats is also what i have tried to explain. Lets suppose you provide a service to some one for 100$ in bitcoin and he paid you 0.1 two months before.
Now if you do same 100$ work now, you will get only 0.05.
Whats if after few years you do work of 100$ and you will only get 0.01.

So getting bitcoin will be harder to get day by day.

Lol! If you consider someone 'common' from the fiat money point of view then how can you consider them 'poor' if they can now afford 0.05 btc as compared to 0.1 btc eariler because if taken in fiat money, they worth same.
So you need not worry, no one gonna judge someone rich or poor if he doesn't have 1 BTC. Moreover to me 0.01 BTC is more standard unit for btc than 1 BTC.

No, not true. folks with low income/less money can always buy small amount of bitcoin, like 500 mBTC. bitcoin is for all rich or poor.  :)
i still buy but small amounts.

It is not necessarily ''out of reach'' for a common man as you stated. I am also a common man earning a decent amount of bitcoins. Time will come I will reach 1 bitcoins and I just need to spend less and earn more just to achieve this goal.It is just how eager you are to earn bitcoins in every ways possible  without being choosy on what you want to do.

Yes everyone can buy bitcoins no matter how high the bitcoin price maybe. Even if 1 sat reaches 1$, many can still buy Satoshi. So this is the beauty of this currency that it can be broken down until 8 decimal places ;D

You know, in future 1 Satoshi might be worth $1 and you can buy loads of Satoshi's now with $1. I always think of the time when Gavin had a

faucet that paid out 1 or even 2 bitcoins and it was basically worth a few cents at the time. Look at where we are now.  ;D ...We do not know where

this is going, but if you have ZERO bitcoins or even a few Satoshi's when this thing goes to the Moon... you would regret it your whole life.  ;)

You dont have to have a full BTC, even having lots of Satoshi's can make you rich. Yes, 1 Satoshi may reach 1$ price one day and we can have nearly anything we want.

absolutely not, 100$ is 100$ not it can be 50BTC or 0.1 bitcoin, it's still 100$. I can surely say that bitcoin is getting closer to the general public, more every day.

Who cares? I don't & neither should any of you. We're all invested already or should be. We're some of the lucky people like the early .com investors in the www. Boom.

HODL what you own & reap the rewards in a few years.

Bitcoin for the common man is no different today than it was 6 years ago. You just get lower denomination for the same amount of fiat. Common man loses out on nothing.

Just like to say that when the common man jumps on board after reading about the big bull market,  we are then fucked.  It's going to be like baseball cards, comic books, and beanie babies in the 1990s.  But this money has to be coming from somewhere.   Maybe joe blow and suzie shitbox have already started up the pig pile.

Absolutely.Bitcoin is divisible into 8 digits and the common man could even buy 0.00000001 btc which would be easy for him.People who kept their trust earlier in bitcoin were winners and they deserve it.They gave their support to bitcoin community while most people at that time were repeatedly saying Bitcoin is dead.Bitcoin deserves this price and much more.

In terms of buying Bitcoin ( in Bitcoin I mean 1BTC and above), yes, only rich people are capable in doing so because of the high price of bitcoin. However, if we are going to talk about having bitcoin then being rich is not the limitation. Even the "Common Man" can still have bitcoin by earning them. Regardless of what is the price of bitcoin, it will still have a direct conversion to fiat. So if the common man earned $100 from his work then he can get a $100 worth of bitcoin.

This problem is coped by the highly divisible capability of bitcoin. If you cannot afford a single BTC then go for the Satoshi.

That is a bad way to put it. Every one of us here are common man.
It is still at reach you can buy satoshis if you want. $2000 might be too high but nobody says you should buy a bitcoin whenever you got spare money.
What if suddenly it increases again doubling the price and while at that way you have already earned 1 bitcoin from saving the satoshis you bought every payroll. Then it is still profit for the common man.

by the time the common man comes on board it'll be seen as a safe option and it'll be packaged up nicely and sold to them by the deep pockets. all the craziness will happen before they arrive just as there's less insanity now compared to 2011 or 2013.

We are getting close to where the average joe will find it much harder to purchase a single bitcoin easily in lets say a monthly wage.  True that bitcoin will always be available in smaller amounts but I think this year will be the last we'll see bitcoin under $2,000.

for me I considered my self as common man and it's difficult to me to buy 1 bitcoin for now. but I don't go it if can't reach it I just did is to earn bitcoin until it reach to high.

Bitcoin is infinitely divisible. However, I see your point that Bitcoin isn't really that nice psychologically, when one Bitcoin is worth so much. We could make a change, making each coin multiply by ten, so one Bitcoin would be worth less, but value won't be affected.

Though it is hard to buy or earn 1BTC nowadays but it doesn't mean a comman man can't earn a fari amount of money or Bitcoin. It has just been adjusted with regards of the price of Bitcoin. Also it is accessible to most of the people not just the rich ones but also the common man like me.

This is one of the rising problem as well as the price of bitcoin. If the price of bitcoin will continue to rise then the capability of the newbies or people that are just getting started will be low because they will earn bitcoin with a lower value and it will be hard for the to collect at least 1 bitcoin for a few months. I think this is true that the rich people will have the power  to buy 1 bitcoin and the poor or common people will get it by the hard way.

It's becoming a game of numbers indeed. For those that have been around longer it sucks earning less bitcoin for the same amount of time spend, but it still nets the same or more in euro/usd.

New people shouldn't have this problem as they never experienced the cheaper bitcoins. All they care about is the stories about rising price and they will still think its cheap.

No it isn't. I am a common man and I am still trying to acquire as much as I can no matter how little. It depends on the common man to be able to foresee bitcoin skyrocketing in future. No one is restricted to purchasing 1 bitcoin, so you can always purchase less than that in your own little way that you can afford. With the little I have now, if my projection is right, then I should have a lot in future. SAVING FOR THE RAINY DAYS.  ;)

it will all come down to what you are planning to do with bitcoin!
1. as an investment the "common man" shouldn't care about what price is but how it moves up. if you invest $1000 at $1000 and it goes up to $2000 you make the same profit as you invested $1000 at $500 and price went up to $1000 (2x) in one year for example

2. if you want to spend bitcoin, then again you buy $1000 you can spend $1000 and as it rises you get some more buying power as price rises for example you get $1200 when it goes up 20% and even more if you get discounts, you can even get up to 60% discounts.

Yes.The price is climbing up but it could also go down like what happened during 2014. Also when you invest in bitcoin just invest what you can afford to lose because if you end up investing too much on bitcoin you might end up like this guy (https://bitcointalk.org/index.php?topic=1910926.msg18961032#msg18961032) right here.

The price is increasing just because more and more people are getting in bitcoin and most of them are not buying 1 whole bitcoin. The creators must have thought about this and hence they made bitcoin divisible by smallest fractions. So everyone out there can buy bitcoins worth his capacity and I don't think common man would have any issues with it.

Bitcoin is not any mystery, so the common man can have a perfect access to it.

If you mean the statistical common man, then a common man should not have access to investment options, because a common guy is drown in debt. The best advise for people that have debt problems is to pay their debts and to later on starting the their investment adventure.

That is actually just one way to look at it. since Bitcoin is now really unstoppable and is cementing its value going to the 2K level, we have to look at Bitcoin as fractions or satoshis. Of course, if we have to look at its fractional value, we all can afford Bitcoin.

What I mean is if you $10 then buy Bitcoin using that money or if you have $100 then use it to buy its equivalent in Bitcoin. Since we are expecting the value to be rising, then we are earning money from our Bitcoin kept in any online wallet.

Bitcoin is not getting too rich for people to get. Don't forget that the whole Bitcoin thing contains decimals and altcoins that allow smaller transactions of Bitcoin to get spread around.

Since Bitcoin can be purchased with decimals, the people that want to purchase Bitcoin will be able to do so though the price of Bitcoin might be high so they would get a low amount of BTC.

The people that didn't purchase Bitcoin since they saw it on the news really should've purchase it right then when it was cheaper.

It's still in reach of the common man, it doesn't matter whether or not you buy 1 whole BTC or just a few mBTC, it doesn't matter at all and people can still invest and take advantage of the market regardless of the quantity they purchase.
It's like with gold, but you can still buy small portions of it. It's not like you have to go and spend a ton on it just to have some of it.

I think bitcoin will increase more in the near future. So you are right about that one day not all people can buy 1 btc, because it will be so strong on the price side. But you don't need to buy one or a lot of bitcoins with this extraordinary price, you can just buy a part of 1 btc.

And here you are the reason why we need a new "unit" smaller than BTC, milibits o whatever. Humans don't like to buy, have or trade 0.00001 of something.

well we have satoshis right?

bitcoin can be divide to 8 decimal points which is 100,000,000 units so it doesn't matter if bitcoin is $10 million dollars each. And devs can make more decimal points if it s needed. 

We just need really good conversion tools to insure we don over pay. May something with dummy protection before we click send.

To some extent it's becoming the rich's cryptocurrency because even in mining only the rich can afford miners to mine them at a good hashrate. It's what most use for their personal transactions but it's fees have started making waves in the airwaves and I believe there need to be a change.

Not at all,bitcoin can be used by anyone, you don't need to buy 1 bitcoin if you can't afford, you can buy smaller amount, and bitcoin is a great investment and currency, if you can grab the opportunity you can become rich with bitcoin, if you start with small amount the profit may not as big as the rich person who bought a lot of coins, but you still can earn profit and everyone can used bitcoin

Think of it that way - Bitcoin is the future, safe haven in fiat based economy, it will be worth only more over time, it is limited.
Meanwhile dollar will lose its value due to quantitative easing - Each day, we have new supply of +$160 million of newly printed USD and inflation.
And very much possible future economic crisis - you think that 2008 crisis was bad? Just wait and see how terrible will be our next global crisis.

Yes, I also think to the extent that the price increases it becomes more difficult for newcomers to acquire a single bitcoin. But in terms of net worth, money is money and $1000 worth of bitcoin are equally valuable when the price was $1 or at the current price.

Why the future? It seems to me now. The economic crisis of 2008 has not ended. Just highly developed countries feel less than a third of the country. The crisis was caused by overproduction. The demand for goods and led to the crisis. What is changed now? Only world war 3 will help to stimulate the economy, but during the war I doubt that bitcoin will be in demand.

I think so. It's a bit like gold at the moment, if you are just the average Joe in the average country(mind you, USA has is quite above average in terms of wages), then there is pretty much no way you're going to be able to buy an ounce of gold simply because it's so hard to get so much funds.

It's impossible to save up small amounts right now with bitcoin because the tx fee for one transaction is like 0.00055 BTC, and that's economy rates. Not even priority rates.


It means that nobody new can get into bitcoin, at least big time. Especially in developing countries.

That is right, it is still not that far from common man, but the thing is, they don't need to buy bitcoin, there are a lot of ways to earn bitcoin without buying, though it takes time to save until you can reach 1 bitcoin. You don't need to buy small amount, why not earn them, Join on PTC or captchas, if you have skill you can make it a way to earn some.

Can someone define the Common man? Is that like a common cold?
I think I fall into the lesser spotted man group of organic life.

Regardless of what the price is common Man will be the last one to accept anything and in a country with huge population, common Man doesn't even get to know about the real market and what's going on in it.
To OP: You can start with 0.1BTC and but more when you can.

Fundamentally you are completely misinterupting what is bitcoin and how much amount of it feasible to everyone. In 2010, one common man may buy 1000 bitcoins for $10, but now that amount will only 0.005 bitcoins so in near future that same $10 may buy only 10 satoshi alone (yes 0.0000001 bitcoins) as many experts are predicting bitcoin may reach values in million.

But I do see that bitcoin is always in favor of common people. Because anyone can buy something of it with what ever money he will be having. The infinitely divisible feature supports this.

Its the paradox of poverty the opportunity is there but only for those who are technically capable of acquiring Bitcoin.
The sadness of this is that those who are not technologically capable or intelligent enough will adopt it last at which point the value will be as you stated out of reach of the common man, the mainstream is a perplexing state in that sense.

When it reaches mainstream some opportunities are lost the new frontier is altcoin for later adoption right now Bitcoin is still an opportunity of a generation for some others will still have a chance now in altcoins as well, a paradigm shift takes time though wealth distribution will always end up with those who are best able to take opportunities they are given and executing them.

Ya it i true that still also a common man can buy but only matters is the quantity of bitcoin you will get low but if you think of future then todays value you will feel low on future value time. Like what now you are feeling high but in past when you bought you thought that value was high but now you are feeling that past value was low.

So when ever you are buying is the correct time and dont see the value of today but think of future value what can be.

BTC is still cheap. 21 million coins for a planet is way too low supply. And yes 1 BTC can reach amounts like 100K but I'd give it 10 years from now... so get it while you still can.

The Bitcoin price might rise but let's not forget that the value it has in a common man together with its convenient way of earning really benefits them. Also many have gone rich in Bitcoin through different ways and these ways that they have been using can still be used as of today.

I do think Bitcoin is still reachable by the common man.  Satoshi designed the 8 decimal digits so that when the price of Bitcoin skyrocketed, those with lesser funds can alway buy a fraction of BTC.  I believe no one is preventing us from buying bitcoin at 0.005 or 0.01.  We can even get bitcoin at less than those amounts.

To be frank it is all good to hear these things,yes the supply is really low for the entire population to consume but there are other alternative currencies and we have a ton of coins now,it is well and good if the price could reach those dream figures but i do not expect the network could handle when we have that much of users.

bitcoin can make common man become rich and why should buy 1 bitcoin there is still 0.1 or 0.01 to hold bitcoin in hands. indeed with a high price will make them hesitate to buy bitcoin.

Exactly, nobody needs to buy 1 bitcoin. Anybody can make a good profit out of 0.1 or 0.01 bitcoin too. Regarding some Signature campaign, most of them are paying same amount of bitcoin as before. It is just like way back bitcoin was $0.001 in 2009 and people bought like 100 of bitcoins. But gradually rate increased and now 0.01 is quite enough. It works like this only.

Exactly. This should be clear by now...although 1 Bitcoin is increasing in value...anyone can buy Bitcoin based on whatever money he has...if he got $100 then he can buy Bitcoin according to the $100 value...nothing can be simple as that. Hell, one can even own just 1 satoshi if that is what he can only afford.

Bitcoin is having 8 decimal places and never was created the way that everybody can own a whole Bitcoin.
Even mBTC may be worth a shit ton of money in a few years.
How many people can afford to buy a 1kg bar of gold?? Think about that! That's why you can buy in ounces.
The same is going to happen with Bitcoin imo! So use the time you still have and buy as much BTC as you can without putting all your savings into it of course!!!!

The point to this topic is the capability to buy bitcoin as a whole and not decimal if you compare the price now and the price a few years ago you can realize that bitcoin is already out of the zone of common man because not all of the bitcoin users can afford 1 bitcoin because it needs a lot of money and that is why a lot of people are also thinking twice before jumping in bitcoin.

I think it's getting out of reach of those that don't think big and are always running down Bitcoin. The doubting Thomas's of our times are loosing out big time and I think the OP must be referring to them as the "command man" . No matter your level of finances in the world if you join Bitcoin at any stag no matter how small your investment I'm hopeful they can make it somehow when the prices goes up as it normally does.

For me its is still within reach of many common people. With even small investments, they can buy just small amounts of bitcoin and let it grow. Of course it is much better if you have a large amount of investments. But you can't let others not to invest because they have small capital only. Bitcoin is for everyone not just for the rich but for everyone as long as they have the money.

I don't think so since the earner still earn same amount of price in Fiat they could still use bitcoin and earn through it,
So I think common man could still earn or save a bitcoin if they want and besides they could buy some satoshi instead of buying a whole bitcoin if they can't afford it.

Exactly, bitcoin is profitable as their price increases day by day and it's almost 1700$ plus so my suggestions for a common man is to buy bitcoin as they can easily afford and they will definitely get profit. It is not necessary to buy 1 bitcoin to get profit.

So you think that a japanese worker who earn 1,125,800 yens every month it's a lot happier than an american worker who earn 10,500 dollars every month.

Please, do not touch that calculator, you are talking about "whole things" not value. You don't have to convert those yens, it's obvious that 1,125,800 is a lot better than 10,500. This is how you see money amounts.

I see what you mean. Bitcoin is a bit adverse in such a sense. Because of the recent jump in Bitcoin price, there has been an increased effort to address Bitcoin as mBTC. Speculation to do such deeds had begun before the price hype. I think this increased price hype can be a catalyst to enforce mBTC instead of referring it as Bitcoin.

No, quite the opposite. With more innovative companies and business catering to the crypto world the more user friendly applications can be adopted for the everyday person.

why a common man would need 1 bitcoin. 0.01 bitcoin or 0.001 bitcoin also have value now so instead of dreaming for round figure common man should get started with decimal values and for any amount of bourbon the value tension same only the amount varies. Some have more amount some have less amount but still the poor will have bitcoin which would have price value same as high amount. Yes the transaction fees had reached such a high that we the common people can't afford to buy small scale bitcoin because trader will take much more transaction fees as compared to bulk amount and while making any transaction we have to pay huge bitcoin just for transaction fees and this that's discouraging.

You don't have to buy a whole Bitcoin. Anyone at all can buy a fraction more and more easily

Bitcoin does achieve amazing prices but not just reach reach of Common Man, nothing is impossible in this world if you try, many paths to roma, many ways to get bitcoin for free but it does need hard work if you just want Which is free

If we use the gold analogy, then OP has a point about Bitcoin becoming out of reach for the common man. It used to be than even anyone could go and mine gold, now they are considered wealthy if they can afford an ounce of gold. Today, you can be considered wealthy if you can afford to buy 0.1 BTC.

More common now is for people to afford silver... maybe LTC is the analogy for silver? Even the LTC icon is silver, compared to BTC's gold colour haha.

The price of bitcoin is no deterent to investing cause you can have even just 1 satoshi. The problem that puts it out of reach of the common man though are the transaction fees which strangle any possible use one can have for the currency.

Yeah well said, it is already out of reach for common man, supply doesnt meats the demand , as of now the sellers are not willing to sell it cheaper and
buyers are not willing to buy at this  price   

Are you suggesting that we should increase the amount of bitcoins because supply doesn't meet demand? If yes that's the stupidest thing i've heard. Bitcoin is designed to prevent that from happening in the first place.

And your second argument is just completely false. Look at how much volume bitcoin trading has generated. I see no reason why anyone should say that sellers are not willing to sell it cheaper and buyers are not willing to buy at the price.

The price of bitcoin doesn't matter. It does not influence one's decision on whether they should try bitcoin out in my opniion. People can still get fractions of a bitcoin.

yes you are right common man does not need to buy a whole bitcoin as it is true that bitcoin is out of the reach of common man because of the high price of bitcoin but i think the common man need to earn bitcoin and then save it, so if he constantly saving bitcoin then he will be able to have a bitcoin and also bitcoin will not be out of reach of common man.

Yes if they think that current price is not a wise way for them to deal to acquired bitcoin then try to earned it instead. There are lots of various methods in order to have bitcoin on our wallet. It just needs research, study and eagerness to reached the goal of having a piece of this cryptocurrency. Try to explore things on the internet, it does have all.

There are newbies out there who owns a fraction of bitcoin even without buying it so for a common person, it's possible to have one. If they can then why other people can't?

People that are interested in bitcoin will still be interested in it. Whether they are want to earn it, mine it, buy it... It is harder now that price is so high for us common men to buy bitcoin, but earning is practically on same level.  I am sure that we find both reason and interest to be a part of bitcoin and bitcoin to be a part of us.