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Author Topic: Is bitcoin becoming out of reach on Common Man  (Read 3573 times)
ufaiz50
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May 14, 2017, 04:21:09 AM
 #61

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 ?
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.

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May 14, 2017, 04:43:37 AM
 #62

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 ?
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.

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iamTom123
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May 14, 2017, 07:00:06 AM
 #63

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.

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.
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May 14, 2017, 08:58:35 AM
 #64

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 ?

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!!!!

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May 14, 2017, 09:19:15 AM
 #65

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.

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.
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.

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May 14, 2017, 01:32:23 PM
 #66

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.

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May 14, 2017, 01:43:25 PM
 #67

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.

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May 16, 2017, 08:44:29 AM
 #68

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.

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May 16, 2017, 10:15:02 AM
 #69

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 ?
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, 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.

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Taxidermista
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May 16, 2017, 10:03:41 PM
 #70

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.

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.

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June 08, 2017, 04:17:20 AM
 #71

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.
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June 08, 2017, 04:30:57 AM
 #72


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.

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June 08, 2017, 04:39:45 AM
 #73

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 ?

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.


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June 08, 2017, 06:24:18 AM
 #74

You don't have to buy a whole Bitcoin. Anyone at all can buy a fraction more and more easily
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June 08, 2017, 06:57:34 AM
 #75

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
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June 08, 2017, 07:27:32 AM
 #76


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!!!!

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.

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June 08, 2017, 07:29:13 AM
 #77

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 ?

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.
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June 08, 2017, 07:31:16 AM
 #78

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   
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June 08, 2017, 08:19:22 AM
 #79

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.














 

 

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June 08, 2017, 06:24:46 PM
 #80


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

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.


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