Bitcoin Forum

hello..Please your opinion.

As we know that Bitcoin is being discussed right now and people hope in their country Bitcoin can be ratified as a legitimate transaction tool. But in my country, only about 3% are familiar with bitcoin. Is this because only the upper middle class knows the bitcoin, or is there any other cause? What about bitcoin in your place?

What.... 30%?? I doubt even 1% of people know about bitcoin even in the most developed countries in Europe. In my country if you go onto the streets and go ask random people about bitcoin they're going to be absolutely bamboozled.

Bitcoin is definitely not only aimed at the middle and upper classes, in fact one of the best uses for bitcoin is to help the unbanked. There have been several quite successful projects involving bitcoin that were able to provide banking services to people who did not have an opportunity to get a bank account, either because they live in too remote areas or they are too poor.

Bitcoin can serve a role in society no matter how rich or poor you are. A poor person can take advantage of bitcoin's low transaction fees across borders to send money to family, whilst rich people can see bitcoin as a way to horad their wealth without social stigma, completely privately.

Of course not.

1 Bitcoin is divisible to the 100 millionth of a coin, which allows easy fungibility in very small denominations. The only barrier to entry for someone seeking to get in to Bitcoin is access to the internet...which arguably could be a luxury only available to the middle an supper class. But this depends on what country you live in.

In many countries access to internet via phone (africa) or cheap/free computer and internet access is available (US). Europe is probably the one place where the internet is expensive.

What country do you live in? And how do you define "familiar"? Does this mean they've heard the word "bitcoin" or that they know what bitcoin is or how it works or how to buy/use it?

30% seems generally high.

Completely agree - 30% is too high. People may just heard about it but when you ask about Bitcoin, what is it and how it works, you will not get the exact answer. And lots of people don't beleive in it, something like - I don't beleive that it works as it is told about everywhere. The huge persantage of people think that Bitcoin it is just a topic to talk and don't understand why people talk about it and pay so much attention to this question. But I hope that this situation will change in a more positive one ))) And what about classes - to my mind Bitcoin is not for middle and upper economic class. It depends on personality - whether it is interesting for person or not, and with Bitcoin people become the sort of middle class if they have a strong desire to and work much in this direction. I know the real examples among people who surround me ))))

If 30% of the people in your country know about Bitcoin, you must live in a place filled with Bitcoin lovers and investors. But, I seriously doubt that even 5% of the people in your country know about Bitcoin. There just isn't that many people in the world who know about Bitcoin. Now, onto the real question. I do not think that Bitcoin is just for the upper and middle classes. Bitcoin is universal and anyone can get it, you don't just have to buy it, you can always earn it. That is what many people in the lower classes do, even people in the upper classes are earning Bitcoin because they know it is a smart investment and worth their time.

Bitcoin is for everyone and was designed that way in the first place. It was made to overtake fiat and become the world's primary currency. Will that ever happen? Who knows. All I know is that anyone can earn or have Bitcoin, as long as they have the determination. As well as an internet connection of course.

30% is already a pretty high percentage of population to know about bitcoin and it is far less than that in most countries.
and it has nothing to do with being upper or middle class. you can always purchase and use bitcoin with any amount that you wish. be it a small amount of money like less than 100 bucks or be it a large amount of money like 1 million dollar.
and even as an investment the same is true, you can always invest in a fraction of bitcoin. there are 8 decimal places after the 1 whole bitcoin and you can choose a small amount that is meaningful in fiat value and buy that much.

bitcoins original ethos was a no barrier borderless currency for anyone and everyone.

but developers, stuck in their first world mindset have not thought beyond their snobby noses..
so things like taking AWAY fee control's and screaming "just pay more" has effectively turned bitcoin into something only the middle/upper classes would use.

they say using LN will be the solution for the third world unbanked, but those that only want to buy $2 (a weeks salary in some places) will face having to put funds into locked contracts with counterparty control and even managed by commercial hubs. making the point of bitcoin, pointless

I don't think so. Bitcoin is free to understand free to learn. It is not hidden and neither it is restricted to learn. You can use it at any time with no boundaries of class.

It just ends up that way as information is distributed based on knowledge and usability, new technology tends to get adopted by the rich first who can afford it or are able to learn about the technology before it spreads to the middle class who then build applications which make it attainable to the common user.
It's similar to the rise of the modern PC starting in a business setting, the internet being created then rich people having the earliest computers with some hobbiests creating apps that attract common users to use it and now it is a tool most people use aka personal computer but the technology is still inaccessible to others, due to the lack of affordability etc.
The internet is a new age where social media can result in serious profit but people still need to be aware and able to use it to make that income.

Bitcoin is not determined with the class whether you are lower, middle or upper class because it is all about the curiosity of the person, if the person has a curiosity to know something then they can easily found bitcoin because bitcoin is very famous in the internet and there is a lot of news in the internet that discusses bitcoin and because of that, they can easily find bitcoin.

For me bitcoin is for all. It is not only for middle and upper class. In that case why some lower class don't know this because they not always using internet, or they busy in their work. Many in my country too don't know bitcoin because mostly of them don't know bitcoin and they're busy always in their job to earn money and to attain to eat 3 times a day.

Are you mentioning correct that 30% of are familiar with bitcoin, in which country are you living because as much i know the whole world knows only 5% of them knew about bitcoin.

OP what you are telling is not true, i am from lower class and after knowing about bitcoin and coming to this forum have made me financially free without investing and i am earning from this forum by doing lot of free tasks which are giving me more then what i am earning in my day salary. So dont tell that bitcoin is only for middle or upper class.

Its not like middle or upper economic class thing. All those who have access to internet and wants to earn money online with trading or by offering their services for money are familiar with most dominant crypto currency i.e. bitcoin.

I think that the majority of people using this forum right now would not consider themselves as rich at all.

The thing is, average people like us really do use bitcoins. The amount of rich people using bitcoin is actually extremely small compared to the whole bitcoin population, though they do hold a lot of coins out of the whole circulation. That inequality unfortunately is common throughout all currencies.

Bitcoin is accessible to anyone anywhere in the world as well. Unlike banks you don't need to have access to a physical location to be able to use bitcoin, therefore i'd actually argue that bitcoin is more lower and middle class oriented than banks and fiat, where central bankers control everything.

Practically no one, and I mean no one on the street can tell you detailed info about Bitcoin. Lots have heard about it, but they don't have any and simply couldn't tell you anything about it.

So bitcoin is not only aimed at the middle class and above, but people just need to know more deeply, what are the advantages and what are the drawbacks. Perhaps because of the lack or absence of services that advertise bitcoin, so many people still do not know it.

To be restricted to only some society classes this wasn't the purpose of Bitcoin. And it wasn't meant that way. But the fact is to have access to Bitcoin certain preconditions should be filled like access to Internet, certain level of education, some knowledge about technologies. Unfortunately this is not equaly available to everyone. When you also count the price it seems that Bitcoin is available only for middle and upper class.

Yeah, it can be said that compared to educated or middle class people, uneducated or poor people know less about the existence of bitcoin because they have limited access to technology and also a lack of technical knowledge.

Bitcoin is for everyone, it does not matter if you are poor, but you know about bitcoin, you would be able put it to good use. Since bitcoin is divisible, people who can't afford to buy a whole bitcoin can still buy fractions of it and use it accordingly. Or why buy, if you can earn it selling your services/products.

There are more than 2 billion unbanked people in the world,  with M-Pesa it has already been proved that being illiterate or poor is not a barrier to adopt new technology. The barrier is making them aware of the existence of a new technology and now with Abra there is a possibility that unbanked or people in underdeveloped countries would get to know about bitcoin and start using it.

Bitcoin is good for everyone. Rich or middle class people can easily benefit from economic freedom of Bitcoin, but so do lower class people. Bitcoin allows to transfer value freely and without borders, meaning that you can find some work at the global market - this wasn't possible earlier since there's no payment processor that works in all countries of the world. I'm sure that in the future Bitcoin will be a major contributor to economic growth of developing countries.

Bitcoin is for everyone. We need to have the trust only then it's possible to make a good profiting or make use of it for good needs than the illegal requirements. Commonly from my understanding bitcoin is for everyone, but the one who makes the profit is the upper segment people who hold good fiat to buy bitcoin. The middle class tries hard to make an additional earning through bitcoin and other digital currencies.

Thats right. Everyone who wants to earn bitcoin should learn how to use it as well. Everyone who has a device is freely use it. Even me, i am poor person but i can even earn bitcoin . I only needs a device and an internet connection thats the thing that i only needed to have a bitcoin and provide my needs.

30% is a very large population. Your country should already be an important part of bitcoin development. In other countries there are still many citizens who are not familiar with bitcoin. For now bitcoin is used by various circles, I would rather agree that bitcoin is currently used more by adolescents with age range 15 to 23 years. This is a fact because teenagers are more receptive to new things especially with regard to technology. This is what I experienced and I feel all the time.

Bitcoin is not really for a specific economic class. Pretty much anyone could make his little investment in it, or even start earning small bits without initial investment.
I see it as the land of small opportunities, you just need to be able to catch them at the right time.

People are making money in signature campaign and helping as support for bitcoin related project, there are only economy and middle class people in the forum and outside.
Apart from these works mostly whales are involved in bitcoin and making huge money with this options.

bitcoin is not for middle and upper economic class but bitcoin is for every people which want to know and learn about bitcoin. if we have money, we can buy bitcoin directly with exchanger but if we don't have money, we can earn bitcoin from free way but we need to be patience to earn from every satoshi until we can have much of bitcoin.

I think Bitcoin is not for the middle and upper classes that it's for everyone. But it also depends on the country or region you live in such things as the internet, access tools, bank card, banking ...
I think 30% is not the correct number, in fact it is much smaller. I tried to survey the people around me by asking if they knew what Bitcoin was. Most of the answer is no! So the problem lies in communicating, spreading to everyone

i said no ,  if btc made for mid upper class that would be unstable not reaching specific audience target.. why would make only mid upper class when low class had a bigger influence about this coin for example i live in 3rd world country and btc already spreading for almost 40% of population

Wait, what the heck???

30% is a huge amount of people who know about bitcoin. It's not something that you put "only" in front of.

Anyways, to your question. No, absolutely not. Bitcoin is definitely not something that is marketed to the middle and upper economic class. It is NOT FOR PROFIT unlike a lot of altcoin projects which their sole intention is to suck funding out of investors. Bitcoin is accessible to anyone in teh world, regardless of whether or not you have $1 million dollars or not. Compared to traditional banking services which often have minimums of a few thousand dollars, and outrageous fees, bitcoin is fitting for the average Joe and even people in third world countries, as long as they have any sort of internet connection, even if its super slow.

Bitcoin main advantage is that you don't need a central authority like a central bank to use it. Also when Satoshi created it I think he had in mind to create something marvelous (which he actually did) which would diminish all the possible barriers another payment had, like bank, paypal etc. In bitcoin no one can limit your account if you keep your bitcoins in your OS wallet (not in web wallets they can shut down your account). Also bitcoin I think was created to be a better payment than the conventional ways which would be accessible to anyone who had access to internet. It is not designed specifically for middle and upper economic class.

I agree even though its a bleak situation we are in at the moment
with bitcoin. August the 1st looming and the days and weeks that
are to follow. The high fees and long[ish] transaction times for micro
payments.

Bitcoin was indeed supposed to be available and used by anyone
and anyone can buy into it with as little as $15 or at a bitcoin
ATM even less I believe. but as above its the fees to buy in and cash out . . .

In my opinion bitcoin is not only known in the middle to upper class but also middle to lower .. like me from middle family down. I can recognize bitcoin. Which is important they are familiar with the internet world. They can certainly invest in bitcoin. Maybe those who know bitcoin originally from middle to low family because they invest in bitcoin they are able to make a lot of money and help their family's economy

of course not, the creator of bitcoin, satoshi nakamoto and the teams is designed bitcoin for every people so we can use bitcoin for many purpose and without have a limit to used bitcoin. and for this reason, the middle and upper economic class is the people that can buy bitcoin directly because they have much of money. so i think we don't have to be worried with them, as long as we want to try to earn bitcoin then we can earn with our way.

With a little effort, investing only your time can earn BTC. Even the poorest can make good money, they just want to :).

Hello !
30% looks indeed a very high percentage n term of knowing bitcoin. In my country, and I live in Africa, I don't know people knowing about bitcoin. Answering your question, I guess everyone can search and learn about bitcoin, which I guess, all people that have acccess to the information, will get a shoot to use bitcoins if they are willing to ! Bitcoins bring a new way of looking at currency, as it is decentralised, and eveyone can get some satoshis around in faucets, gambling or working on our personal skills for some bitcoins

I wouldn't say it's for upper and middle class as those classes are based on wealth. It's just that more educated people understand and use bitcoin at the moment (which may change in the future)

I don't think so.
But, don't you think that 30% is a bit too high?

Anyone could use bitcoin on any different pusposes.
It's depends on the people itself.
If they are willing to learn about using bitcoin, and what could they earn through bitcoin.

If in my opinion it depends on human resources, because middle man may not all understand about bitcoin,
And everyone can little bitcoin depending on their skills and knowledge in English and computer.

Going back 7 years ago and you might have said the same thing: "Is BTC only for geeks who haven't got any life?" Personal perception to anything really does change whenever something gained widespread recognition and value over time. It's not for class distribution or anything, it's just that people who own it right now happen to acquire them when people treat bitcoin as shit and low compared to fiat. You still can use bitcoin if you have it and as long as you have internet connection.

everyone can get bitcoin as long as he know how to get it .

It is simply because they are ignorant about bitcoin or simply would not bother to check what bitcoin is,there is a notion with people that they will be skeptic for the things they see for the first time because they are not aware nor care to learn about new things. It is not about middle and upper economic class,bitcoin is for everyone but mining is for the upper class. ;)

Your original post stated 30%.
Then after the avalanche of people inquiring that number you backtracked and went to 3%.
Obviously not a typing mistake.

So, at this point one thing is sure.You have no clue how widespread bitcoin is, there is the possibility that it might even be below 1% in your country.
With this huge gap in your "statistics" how have you come to this conclusion about middle and upper class users?

Bitcoin is not only about middle class or upper class, it's for everyone who knows about it. I know many okay people who have bits of it. You may quote it by saying that they can't buy it in whole, but every one can buy in bits. That's how a smart person will do. I know one may say it's irritating thing to buy in small but then it's best to buy rather than not buy it at all. I think you got the wrong notion about this, I hope now you would be well educated about it.

It is true that only the computer literate people are knowledgeable about Bitcoin. But that doesn't mean that all of them belongs to middle or upper class. I myself belongs to the lower middle class, and most of the users I know, are either lower middle class or upper middle class and I am yet to come across anyone in the upper economic class.

Bitcoin is for everyone irrespective of their financial status. Bitcoin is still in early stages and a lot of people don't know about it at all. Compared to other technologies bitcoin has not reached masses. Bitcoin has a long way to go. It's our duty to introduce it to as many people as we can and make it more popular. Once a huge number of masses get to know about bitcoin and they have enough knowledge of blockchain and bitcoin this difference of middle class and upper economic class will disappear and we will see almost every other person using it and being a part of it. Bitcoin needs much more exposure than it has now before it becomes a mainstream currency.

Bitcoin is for everyone regardless of their social status since all you need to have to use Bitcoin is an internet connection and something to browse the internet with. Just imagine Bitcoin as normal money, except with the exception of having to have an internet connection and something to access the internet with. Bitcoin was not introduced to only the middle status people or high status people, but instead everyone. This is what makes Bitcoin so great and the most popular of the cryptocurrencies.

So the point is to know and understand the bitcoin ie those who can operate the computer. While those who can not operate a computer, even if someone who is poor or rich is not familiar with bitcoin. Bitcoin is technology so only people who want to try new technology that can use bitcoin.

If fiat currency can be used by everyone (despite of their social status and economic class), then Bitcoin can also be used by everyone. The good thing about Bitcoin is that it can be divided almost infinitely. But in case of fiat currency it is not possible. For example, the lowest denomination coin for the United States Dollar is 1 cent penny ($0.01). It is not possible to transact in amounts lower than this.

Bitcoin for all. Just depending on the class of people for a variety of it is mined. Those who have low incomes trying to make it work. Those who have average income those who are making the trading on the exchange or mining. Whales earn investment and speculation. Each has its own niche.

I think that lower class people will be more willing to put some money in Bitcoin hoping to get rich overnight, which will of course do not happen.

For me I think it is not, even if you are not in the middle or upper economic class as long as you know how is the process in bitcoin world you'll know about it. If you have knowledge about it, even if you're a lower class you can have some bitcoins. Bitcoin is for everyone, there are no discrimination about it because when you're on your mobile or PC you're now part of the bitcoin community.

Same like your situation, only a small part of the people in my country kows about bitcoin. Some may have heard or read bitcojn somewhere but if you ask them about it, you will still get a response of "what's that?" how it works" and if it is "real". I believe you got it wrong about bitcoin is only aimed for upper middle class people. You may have view it like that as of today because bitcoin is not yet well known. As a decentralized currency, bitcoin is aimed to be used by anyone and anywhere while being free of the limits that banks give us. Once More people gets educated about bitcoin, for sure words will spread and it will be used by anyone even those people below the middleclass you are referring to.

Exactly! Regardless of your job. People make ways on earning by means of survival or any. Bitcoin is a starter to make people with fair view on making a goal to make a living and at mine at the same time. It's not only for middle and upper economic class because everybody's equal whether others are well-off but then they still have goals for an investment to some businesses the more in lower classes.

Even though we do not know your country of origin, we can still guess that it might not be a 1st world country. If you live in a 3rd world country,

the adoption will take a bit longer, due to poor access to internet infrastructure and smart phones. Projects like this :

https://en.wikipedia.org/wiki/Project_Loon wants to change all that, but they cannot seem to keep the balloons in the air.  ::)

 I would say 3% is too high because when you go and ask any random person whether he/she knows anything about bitcoin ,the person would rather blink /think what  are you blabbering about.Bitcoin cannot be suitable for everyone right now as it would take a few years at least to bring in the concept of it to people's minds.Bitcoin is only known to some of the people of middle and upper economic class as far as i know.

Bitcoin only for middle and upper economic classes is not true because bitcoin is freely used by anyone. Maybe you're right, in my country too few people are familiar with bitcoin. But that's not because only middle and upper classes can use bitcoin, but because there are still many people who do not understand bitcoin. When I meet some of my friends and ask about bitcoin, the average of them does not recognize it. And why the lower economic class does not recognize bitcoin because to know bitcoin one has to understand technology, and I'm sure lower economy class still can not or hard to understand technology. Maybe I think it is and not a matter of one's economy class.

BTC is a currency that can be used by anyone regardless of how much income a person earns, the most common reason that people do not use bitcoins is because they are not interested to learn about how bitcoin works and also they are not interested to learn about it. Bitcoin is not created for the middle and upper economic class only, bitcoin is designed for the people that choose to believe in its technology and future.

It's hard to obtain and use bitcoins without access to computers or smartphones. This eliminates some people from using it. There are also others that don't know about it yet, and those that have heard of it but don't know how to get bitcoins. It's not widely publicized.

Even basic computer knowledge is not necessary. If someone knows how to use a smartphone, then I don't think that he will face any issue in dealing with Bitcoin. But it can be sometimes tough for the elderly people to understand the technology behind Bitcoin. Another concern is the robbery of coins from your wallet. You need to know how to backup your private key, and how to use 2FA.

That sounds too backward think in the world of digitalisation. Bitcoin is free hub and ca be accessed with no boundaries. Any educated person on this earth can go into bitcoin. They just need to know how to handle the internet and read!

I don't know where are you from, but it just can't be true to only middle and upper classes. Where from you took such information and percent?
I can understand that bitcoin is not acceptable for poor people who has not a computer or a smartphone, because of you can't work with bitcoin without the Internet. And that fact that under the middle class doesn't know about bitcoin can be explained with that fact that today bitcoin is not so known in general. mostly everything is on English and not all mass media talk about bitcoin.

i don't think so like many other, you can buy your bitcoin if you are poor, just by less, none is forcing you to buy 1 whole bitcoin, but i can agree if we talk about fee, with current expensive fee only mid class can use bitcoin all day without looking at the fee cost

I don't really think that bitcoin is only for the middle and upper economic class,
It is for everyone who are interested to use it and earn through it,
They just have to know how this crypto currency works and of course they should know how to send and how to receive their Bits,
For my own opinion bitcoin was created not only for the middle or upper economic class it is for all of us.

Totally not true. Upper class will not bother with mining as they already have money. It's more for a middle and lower class people as it does not require much investment in order to profit from it within a few months

I doubt if the familiarity of bitcoin has anything to do with the value. It is not limited to only the upper or mid class. If lower class is learned enough to tap into the core values of bitcoin, I see no reason why they shouldn't. Like I always say, you don't need to have amount to purchase 1bitcoin using fiat before you do. You can start from small. Moreover there are platforms where you can earn bitcoin as a lower class, everything has to do with information and how well the person in question is ready to research and find answers to certain questions.

You have no clue what being poor means.
Being poor to the state that you can't fed yourself properly, you have no money for clothes you have no way to pay for medical care.
Who the hell do you think will try to buy bitcoins at this stage?
With what? Rat pelts?

It all depends on what the economic situation in your country is in the first place. If Bitcoin was just for the middle and upper classes then there would be a lot more people within your country talking about it, as opposed to 3%.

Aside from that, the only thing that limits lower classes from getting involved in Bitcoin is either their lack fo funds to invest in Bitcoin with, or they don't have access to the internet, which is becoming an increasingly irregular thing. It just depends on whether or not they have the means to acquire it and not much else, and acquiring it can mean a lot of different things.

No doubt bitcoin technology was developed with the aim of targeting the poorest of society to connect but with time being several obstacles hinder this vision. Basic reasons are- use of internet which is not everyone's cup of tea, restrictions and difficulty in buying bitcoins which I don't think poors can access. And much more..

I won't say that bitcoin belongs to only to the middle and upper income class people. I would rather say that bitcoin belongs to only the technologically sound people. If you are not a tech-savy human, you won't be able to understand the bitcoin and won't be able to take out any benefit from it.

So rather diving the bitcoin users economically, it's better to classify them as per their education and technology friendliness. If a poor  man is technically sound then he can also earn bitcoin without any problem.

Regardless what your social class could be, you can use Bitcoin. Bitcoin does not restrict nor discriminate its users depending on their social level, as long as you have the knowledge about its usage then you can freely use Bitcoin (supposing that it is not illegal in your country or territory). Most users of Bitcoin is included in the middle class or higher simply because they can afford it. So if the lower class cannot afford to use Bitcoin then they cannot but it does not mean that they are not allowed to use it.

Only few people know Bitcoin because it lack publicity. That is the main reason I see.

In Russia only tech related guys and traders knows what it is :D

Anyone that's free to think on their own can use bitcoins. Anyone with an Internet access and a little storage on their device can use bitcoins. It probably mostly is middle class people but that doesn't mean it can't help people that are currently unbanked. It's a surprising amount of the world if you're used to living in a first world country.

Over here as well I will also say the upper and middle class are mostly involved in bitcoin and little part of the lower class and the reason is because the fact that for anyone to even know about bitcoin over here, you have to have access to the internet in which the categories of people I mentioned there are the ones that even have the capacity to have the kind of smart phones that could do that, the level of knowledge to operate such and even the financial wherewithal to afford such while to others they are comfortable with the mobile phones that can call, and reacieve text messages.

The internet is now available everywhere. Poor people do not have to have it at home. Is available  commercial center or train station. Everything what you should to do is get a device for reading and writing. Many people just donate their old laptops or sell for little money. Just have Wi-Fi. That's all...

It doesn't matter if we are only 3% that are familiar with bitcoin. Think of it that while we are only 3% the price is already so what if it is going to be 5%,10% or 50% the price will be beneficial to all of us. It's not about middle and upper class, everyone is free to use bitcoin, others are not just aware that there is existing coin like this one.

In case that price of bitcoin go extremely high then it will more suitable for rich and upper class then for ordinary people, we will need to settle with some other much cheaper alt and to dream about buying bitcoin. Basically if you believe in this kind of scenario then it would be wise to save every satoshi you make, there is a little chance that each satoshi will worth a lot, and then even satoshis will be expensive for many people. But is there a chance for something like that to even happen? And if there is, when we can expect that to happen?

Bitcoin in my place is popular and there is a lot of people that's entering everyday, mostly people here are always for something to do for part time. And bitcoin is the one they saw , there's no discrimination in bitcoin we are still less because bitcoin is still young but even it is still a young currency, the price is great.

I don't think it was meant only for these classes, though at the moment it's ending up to be something that's only really being adopted and used by these two middle and upper economic classes due to the ways Bitcoin has evolved. Think of it in these eyes here, with the current issues when it comes to people being completely ripped off for fees, the current estimated fee is around the price of $3 which no one in the lower socioeconomic class is going to be able to afford to use a currency, I know many people are going to come out and say it's cheaper than WU or transfer companies.

But it's not, people actually have to buy Bitcoins and then that take fees, using it fees, selling it fees, more and more and more and more fees bud.

Internet facilities are now available even in backward countries, in my country who get livelihood with struggle and most cannot their other basic needs, they must have smartphone and internet facility, that are more cheep than the basic needs, therefore bitcoin is not only for the upper and middle class but bitcoin is for all. because bitcoin is a currency and everyone can hold it and can use it also.

Almost the threads are coming out like "bitcoin can be used by ordinary people." It's an online money and it can be used by everybody. Where did you got the statistics that in your country theres only 3% users? Then it must be detailed and you can identify it if they are low,middle or upper class.

Haven't you seen all the topics about faucets? About the games where you have to watch one zillion advertisements during 2 full hours to earn $0.50 worth of BTC?

Has anyone seen Bill Gates using faucets?

All free to access bitcoin no one forbids it to enjoy it or run it, as long as he understands about bitcoin and uses it properly, bitcoin only requires internet access, which is currently not hard to get everybody can or understand, and no economic difference using this bitcoin , Unless the local government prohibits the use of bitcoin or government to block internet access in the area so that ordinary citizens can not enjoy it

In my area bitcoin is not to used by any particular type of class but it is used by any person of our country who have access to internet. No one have any restriction on it and everyone is using it with full freedom.

I agree that everyone regardless of social and financial status can access Bitcoin, those who have no financial capability to buy bitcoin can have it through working and be paid with bitcoins.  There are lots of member here that were knowledgeable but does not have money to buy bitcoins offer their services to earn bitcoins.   So I guess bitcoins give opportunity to all classes to participate in its economy.

Definitely not... People who are poor are still using bitcoin on a daily basis, a lot of people here on this forum arent even from first world countries. As long as you have access to internet you have access to bitcoin, its not something that is only aimed at the rich at all.

lol you kidding me?

take a look at bank transfer fees overseas and compare that to bitcoin transaction fees.

you'll see a huge difference. someone working remotely overseas would be losing out on hundreds of dollars per year if they were using traditional banking system compared to btc

In other words, all circles can have bitcoin because to get it you just need access to the internet, and also know how to get it and understand what kind of benefits. For access to the internet even the poor can, Maybe they just need a little curiosity, and the spirit to try something new.

Bitcoin is not exclusive to a social class, and is free for anyone to use. However, to use and gain knowledge about Bitcoin it is inevitable that one would need access to internet and devices for use like a smartphone or laptops, which most lower class don't have access to. Also, you would need money in using Bitcoin. So Bitcoin may be available to everyone and every class but perhaps is not accessible to the low class of society.

Yes that's true!, bitcoin can be used all of us especially to those who have access to internet, some people didn't know the real value of bitcoin until they see some of my bitcoin earnings so they now also want to know bitcoin.

Does anyone forbid the low/poor class to use Bitcoins? I don't think so... If you aren't seeing them using this it's because they just don't have interest in Bitcoins. I believe everywhere people have computers and cell-phones, and if they don't have it, there are places where they can pay to use a computer for an hour or so (lan-house).

If the poor class have interest in Bitcoins, they can save the maximum money as possible to buy it, even if it's $10 monthly. I really don't know why they aren't doing it as they can be the most benefited from Bitcoin volatility in price, maybe they are waiting for a miracle to change their lifes...

 First of all not many people know about Bitcoin. The Bitcoin community is a minority. And of the people who know, many have never actually possessed 1 entire Bitcoin. Bitcoin price is high and will only get higher, so in order to gain possession of 1 Bitcoin, one would need to be at least middle economic class.

However, Bitcoin can basically be used by anyone who has internet and the money to buy Bitcoin. Moreover, you can also earn Bitcoin by working; just ask your employer to pay you in Bitcoin.

Moreover, you can purchase a fraction of a Bitcoin. You do not necessarily have to possess 1 Bitcoin. Even by owning 1 Satoshi, you are technically part of the Bitcoin community; although not a very big part.

Plus there has even been a recent push to 'rename' Bitcoin. Some users want it referred to as mBTC. This would still equal about $2.50 and can be utilise by every member of every economic class if they have access to the internet.

We have to realize that bitcoin is still in its early stages of existence and both the lower and upper class will take a while to know what it is all about. Banks have been around for quite a while but still a huge number of people remain unbanked. Stocks have been around also, but even the middle class hardly invest in them. So I don't expect bitcoin to be any different.

We all know that Bitcoin is a digital currency. Unlike any other currency such as Dollars and Euros, bitcoin is not printed or it cannot be reproduced as that simple as conventional money. If we're going to analyse the usage of bitcoin, for the developing countries, the popularity of bitcoin is still low which maybe less than 5%. How much more in the slow developing countries. It would take so long to adapt bitcoin's usage because it depends on how much knowledge you have using our technology. It would require someone to use internet and computer in order to earn and learn bitcoin.

In our country, I think there is only 1% of the population who really knows what bitcoin is. But the are some establishments who accepts bitcoin as mode of payment.

But it is a good fact that bitcoin is open for everyone regardless of what society you belong as you are knowledgeable in using it.

Same here in my place. The issue is primarily of poverty. Poor people here in my place don't have the access to internet. If they have it is only through internet shops. They cannot spend their entire day also as the internet price per hour is a bit expensive. They don't have internet in their homes. Their whole lives are basically spent to look for food in order to survive. They don't have the chance to explore some modern features of life such as this BTC thing.

3% is a big number for bitcoin, you should feel good about it. In my country, 100 million people, but only a few thousand know bitcoin. Rate too low, be proud that your country is a developed country.

Bitcoin doesnt matter on what status you do have in your life. Lowest to highest could able to use it as long you do have the internet connection to engage with it and the thing i can say in the situation you have said is that the adoption or awareness of bitcoin into your place is just less which those who have internet mostly would able to notify about bitcoins existence thru internet since they do have the advantage on owning or having web connection which is mainly needed.

Yes, bitcoin is in its early days. We are just 8-9 years away from the introduction of bitcoin. In this short time period it has got good number of users around the world. The same will take bitcoin grow bigger and importantly bitcoin is not that easily learned. Just because of this the present users seems to be middle and upper economic people.

In my country only a small percentage of the people knows bitcoin too, but they only know it as a moneymaking scheme  :-\ . Anyway, to answer your question, I think bitcoin is only for the mid-lower class upto the higher class. Since in my country, even the poor people have smartphones (the cheaper Samsung models). But definitely not everyone can afford food, what more smartphones?

Here only newbie can talk about such things because they are not yet familiar with such things , in my country about 10% of the population knows about the Bitcoin and 5-6% of the population is using the Bitcoin ( which is not a small number ) .
So in my opinion the best thing for us is that we can join and make advantage of Bitcoin is every possible way , regardless of the fact that from which category we belong .
Here I myself is from the middle category , who is making a decent amount of earnings , and also there are many friends which belongs from lower as well as upper category and making successful work with Bitcoin with bulk earnings .

The fact that you don't need any sort of income to get a bitcoin address, and you can create many of them, as much as you'd like to, and every single one is usable without any sort of government intervention means that bitcoin is perfectly useful and usable for the lower income classes.

Credit cards are only available for people who have a stable income, bank accounts have monthly fees. These are aimed at the middle and upper economic classes, but bitcoin is the exact opposite of that in my opinion.

In fact, i'd actually go on a limb here and say that most of the people using bitcoin earn less than $40,000 a year, because there are a lot of users from poorer countries. Bitcoin definitely has the ability to help the unbanked(the people who don't have access to banking services).

Bitcoin is created for the benefit of all people both rich and the poor.But today,unfortunately,due to the high increase in price,poor are no more able to buy a whole bitcoin.Only they coulkd do is to buy either 0.1 btc or 0.01 btc.Also due to the need for powerful ASICs to mine bitcoin,poor people are no more able to mine bitcoins.

This is true! I consider also myself as poor in this poor county that I also manage to get bitcoin because of endorsement it will my friends to me so I am now used and earn bitcoin, so I think bitcoin is for everyone.

I don't think so, because most of the time even poor people has their own gadgets so that they are updated. Just to say that they are one of the people that is updated. Poor people can also make their way to have their bitcoin and to have their extra income but I think they are also the problem maybe they are not interested on it.

Nope it's for anyone with access to the internet. But, but, but Scorpion poor people do not have access to the internet. That is changing EVERYDAY. Rapidly and that's how powerful Bitcoin is because once they get access to the internet they won't need to rely on banks or other financial institutions to earn or distribute store of value.

Lol, never and I don't think he has that much time to be faucetting. It's just a waste of time to do faucets and that's why I'm tempted to believe Bitcoin is gradually becoming an elitist cryptocurrency and it's getting out of the hands of ordinary people.

Do you think 3% is a good ratio for a country? I think it's a good rate for a country. Because in my country, it only accounts for 0.005%

Anyone can use bitcoin, I do not think the use of bitcoin is limited by the social class. Bitcoin is easy to use just the internet. Each country has different economies, so knowing bitcoin depends on its knowledge and popularity in that country.

Yeah most people know nothing about bitcoins even here in our place maybe less than 1% of our population. Even the bank tellers and frontdesk assistant where i am getting cash which i convert from bitcoin asking me about the institution im writing on the remittance form(which is my btc wallet) they cant understand what im this bitcoins im talking about. And when im telling my friends im getting money online through cryptos they are just having a doubt that it might be a form of scam networking which is pretty far from what really it is..lol

I dont know that rate shows people who just knowing what bitcoin is but dont have any of it. Or people who know and have it, maybe in my country have account below your country rate.

In my country there is very less people know about bitcoin because its known by the people believe in online earning and online money . After recent 6 months there is lots of investment coming on lots of local exchanges. Again its very less  may be around 1% to 3% i don't have exact data.

Actually a lot of rich people just choose to ignore bitcoin because they see it as either just a pump and dump ponzi scheme or a threat to their existing business. So bitcoiners are largely still just average Joes in their 20s or 30s, renting out homes. By no means the upper class.

I think that bitcoin is a lot more accessible than traditional banking services, so it is in fact targeted to bring everyone a way to access financial services without going through one of the centralised banking systems.


Where do you live? 3% is a lot. It would mean that 10 million of the US approximately uses bitcoin, which i can only dream of at the moment :D

Are you from India? The percentage penetration doesn't matter much. Even if 0.1% of the Indians use Bitcoins, the number will come to around 1.3 million. It is huge. The same with China as well. And as far as I know, the growth in the number of Bitcoin users is very encouraging in India.

Well bitcoins is for all of the people who have access to the internet all of peoples around the world can have it, bitcoins can be bought with just couples dollars and it is cheap than buy stocks on exchangers that need much capital, bitcoins still not be famous because however bitcoins is still very very new and bitcoins on my local place is same with you no many people know about bitcoins.

I'm from the lowest class of society, I mean the lowest possible :D yet I know of and about bitcoin, I don't know all and everything but I know enough to be involved and invest in it also I used to tell every single person appeared in my way about it but never more ever since the price sky rocketed from $900.
Bitcoin with altcoins are the perfect tools for people from any class to print money all by themselves, first mine altcoins and then convert them into bitcoin and sell it for fiat.
Bitcoin is not only a digital currency but it is also a government of it's own.

as long as any person from any "economic class" has access to a computer and internet and also is willing to learn then there is nothing stopping anyone from using bitcoin.

everything else is just excuses that people make. like high fees, the high price of 1 whole bitcoin, being complicated, ...

Yes you are right the use of bitcoin is not limited by the social class and all people are use it very easily whether they are rich or poor boths are use it. But they require knowledge or awareness of bitcoin if they are aware about the bitcoin they are very easily use and earn it.

A lot of people say that you need an internet connection to use bitcoin, and a lot of people don't have internet access.

But the truth is that internet is something basically everyone can afford and get. Even homeless people have access to internet. Plus, you don't even need internet access. There are services out there that are able to convert your text messages into commands for sending, receiving and transacting your bitcoins on their platform. And this isn't even a new idea, coinapult and 37coins(although it closed down i think) did this back in 2013.

So yeah, the restrictions of bitcoin is much lower than fiat, and it would be illogical to say that it is only for middle and upper class only. In fact one of the main visions that bitcoin believers have is bitcoin solving the unbanked population's woes.

There's always a way if you want to become rich in crypto currency. And with your suggestion of choosing some cheaper alts, it's a good alternative if you are not able to buy bitcoins. Just earn from those alts and then exchange your profit in bitcoin.

Man, 7000 millions people don't have access to water.
And you think internet?

Around the same amount are illiterate. How the hell will they type message when they don't have a clue what those letters stand for?

There are thousands of people in Africa who know the value of banknotes by the color, not by the number written on it.
For at least half of the population cash will be the main currency for decades.