What's going on? Bitcoin for the rich only?

[stergium]

Bitcoin is not for the rich people only. Maybe rich people are able to buy bigger numbers of bitcoin but it doesn't mean that they are the only people who has the right to use it. We are all the same in this community. No one is rich and no one is poor. So let us all be fair enough.

yes bitcoin is not only for rich people but bitcoin is for everyone who know about it and can get benefit form it. i think most of the people do not know about bitcoin but i am sure that if they will start using it they can also get good profit form it, i thin we should introduce bitcoin in our area so that more and more people start using it and can get benefit form it.

[sam53]

Bitcoin is not for the rich people only. Maybe rich people are able to buy bigger numbers of bitcoin but it doesn't mean that they are the only people who has the right to use it. We are all the same in this community. No one is rich and no one is poor. So let us all be fair enough.

yes bitcoin is not only for rich people but bitcoin is for everyone who know about it and can get benefit form it. i think most of the people do not know about bitcoin but i am sure that if they will start using it they can also get good profit form it, i thin we should introduce bitcoin in our area so that more and more people start using it and can get benefit form it.

In recently, the definition Bitcoin of most user are think it's a place for investing and earning profit from trading or holding. But they don't the potential, the future of Bitcoin in long time and the reason Satoshi has created Bitcoin.

[Gameroid]

It is for everyone if you know how to earn it.
It is not only for rich, there is many ways to make money.
Maybe the ones who invested in Btc years ago are previliged but it is never late or you, you still have chance.

i also do not think that bitcoin is only for rich people. in fact the transaction fee is creating some problem but i think i think this problem will be solve very soon. i am hope that this problem will be solve very soon.  because bitcoin is now becoming as the most popular currency of the world., therefore bitcoin should solve all its weaknesses.

[CONANEDO]

yes the fee is the main problem,i don't want to move my BTC just keep it in one place because the fee is really high.

[Bestwishes745]

I think not, for me not enough money can also be rich by collecting coins that we can with a little bit follow the project.

lol what?  Didn't quite catch that.

Yep, fees suck.  It's more practical to use another coin like doge for spending.   As to the 'why', I think that has to do with the price explosion you might have noticed,  which is currently in progress.

I think he/she was trying to say that even those people who are not rich can use and earn bitcoin. They can earn bitcoin by mining and even gambling and most usable way in earning is through signature campaign and social media campaign.

I agree with you. Bitcoins are not only for rich people. Bitcoins have been made for all classes. Yeah! If you are not having too much savings and unable to buy bitcoins; they can earn bitcoins by these methods. Signature campaigns are the easiest and safest ways of earning bitcoins. I will not suggest gambling for the earning of bitcoins.

[Omega Weapon]

This is indeed bitcoin to give the rich richer, bitcoin should provide some of its assets for those who do not have ....

It's modern capitalism at its best. Those who already own Bitcoins get richer and richer (see the latest jump in price) and those who haven't any, have fewer and fewer opportunities to get some. But if price continues to rise in future it might still be worth to invest here.

Bitcoin is devised as the ultimate capitalist tool, the winners win and win constantly the losers lose until they got nothing more to lose, that is capitalism whether we like it or not, bitcoins is a currency and like any currency its primary function is to facilitate trades, bitcoin was not designed by satoshi to bring equality or anything like that, if you want to become rich with bitcoin you can do it as long as you can beat your competition.

[oegarod]

This is a small misunderstanding that happened among the users. In reality due to the increased pricing bitcoin seems affordable for the rich. With bitcoin more we invest more will be the profit. Majority of the profiting users were rich people. Just because of this it's been considered in similar way.

[keithers]

Anyone from any financial background has the ability to use bitcoin.   Because of the prices now it obviously will take a large stake to purchase a large position, but you can still invest $100 and probably still get better returns over the year than you would on any other investment that is available on the market.

[djkyno]

Obviously Bitcoin is for everyone, not only for rich or wealthy people. Anyone with connection, some knowledge about crypto currencies, can deal with Bitcoin and could earn it, making trades with it and so on.
But it is normal that rich people can invest more money in Bitcoin and earn a lot more fastly.

[Omega Weapon]

i feel like selling all my Bitcoin and find another crypto that will be used by everyone in the future that will always have a low fee.

I don't think bitcoin can be replaced by any other cryptocurrency. Bitcoin has been the best from 2009. It has highly emerged the markets. Certain cryptocurrencies like ETH/LTC/etc can maybe replace Bitcoin but accordingly their transaction fees will increasing due to heavy increasing use.
The only way to overcome the fees is to include and calculate the fees in the transaction performed.

There are cryptocurrencies that are faster, better, more anonymous and safer than Bitcoin that can also scale better.
Bitcoin's only advantage is that of being the first at this point. I too believe that it won't be replaced as long as it's smooth development continues, but there are other currencies (such as XMR) which are a very real threat to Bitcoin.

The founder advantage that bitcoin has is something that is not going to be easy to overcome in the short time, especially if we take into account that bitcoin development continues so there is not a reason to think the protocol is not going to be improved to the point most of the advantages seen in other coins are going to be integrated in bitcoin.

[Innocant]

I think not, for me not enough money can also be rich by collecting coins that we can with a little bit follow the project.

Collecting all coins to become rich, Maybe we do not know it is the way to become rich by collecting them all. But how to collect them all jus joining in the campaign or trading. Its not easy to collect them all you need more strategy and learning about that.

[Nameless27]

As what I also read a day ago the gain worth of million by coinbase. It is just a fees for service especially bitcoin for its anonymity. If they do deserve the fees and have good service I don't think that is the issue. Payment are necessary as long as it reasonable explainable as per transaction as possible.

[aTriz]

Hi,

Even just a year ago bitcoin was useable... now the fees are about 10x what the banks charge. Seems like its changing from a peer-to-peer money system for everyone into yet another convenient way for rich people to exchange funds!

You posted this a while back and after Segwit, the fees have all dropped and it seems like the hard fork did fix some of the issues we had. Now we pay less in transaction fees and it takes less time to confirm. Making dust transactions was always hard to do with bitcoin, but this fix makes it more affordable for people to make smaller transactions.

What went wrong> And more to the point, who is responsible? What can be done to fix it?

Already has been fixed. The block rewards slowly become less and then miner fees have to rise in price. a

[Xester]

I think not, for me not enough money can also be rich by collecting coins that we can with a little bit follow the project.

Collecting all coins to become rich, Maybe we do not know it is the way to become rich by collecting them all. But how to collect them all jus joining in the campaign or trading. Its not easy to collect them all you need more strategy and learning about that.

And how can he even collect all the coins?  You need to be really rich to get all the coins and even just by collecting you may die already because you are already all by that time.  And if you are already rich and have all the coins, what will be its value?  I think if people will just keep their bitcoins and not use them, that will be the end of it.  Nothing left in the supply.  But that is next to impossible.  Back to the topic, bitcoin is only for the rich people is not really true.

[Potato Chips]

I think not, for me not enough money can also be rich by collecting coins that we can with a little bit follow the project.

Collecting all coins to become rich, Maybe we do not know it is the way to become rich by collecting them all. But how to collect them all jus joining in the campaign or trading. Its not easy to collect them all you need more strategy and learning about that.

And how can he even collect all the coins?  You need to be really rich to get all the coins and even just by collecting you may die already because you are already all by that time.  And if you are already rich and have all the coins, what will be its value?  I think if people will just keep their bitcoins and not use them, that will be the end of it.  Nothing left in the supply.  But that is next to impossible.  Back to the topic, bitcoin is only for the rich people is not really true.

i think what he meant by collecting is to hold but not necessarily to hold it until he's dead lol, in the first place collecting is not a good word to use on a currency

moreover its a common sense to know that collecting them all is impossible. yes if bitcoin continue to rise, holders can become rich but there's no guarantee that

it'll rise for a long period of time although many of believes that it will, even so it doesn't mean that for rich only. you guys know you can always buy a portion of 1 bitcoin right?

[guoyu78]

I think not, for me not enough money can also be rich by collecting coins that we can with a little bit follow the project.

Collecting all coins to become rich, Maybe we do not know it is the way to become rich by collecting them all. But how to collect them all jus joining in the campaign or trading. Its not easy to collect them all you need more strategy and learning about that.

I smell greed here: p ... Trying to grab all the coins and rule the world ? Well, isn’t it a sweet dream ? How about waking up and getting a little real.

It won't happen because you have a lot of competition. Bitcoin has a lot of lovers. Plainly, bitcoins give the opportunity to become rich. There are different methods to make digital gold yours and if you are smart enough you can become a millionaire one day.

[Daniel91]

I don't think so.
Yes, its true that btc become very expensive right now but you don't need to buy big amount of btc.
If 1 btc is to much, buy 0,1 or 0,01 or 0,001 or even less.
Any amount is good right now and will bring you profit
Also, if you join some signature campaign, you can earn some btc in a free way, without investing of your own money.
Of course, it will be great to have some big amount of btc right now but we missed our chance before year or two, when btc was very cheap.
Rich people are rich because they are smart and they know when and where to invest money.
They are not afraid to risk many times but eventually they earn profit.

[bvg96634]

I think probably Bitcoin is not only for rich. So many are earning Bitcoins. In that middle class people's also earning Bitcoins . Bitcoin is not only for rich person's l. Rich person's may be earn huge amount of Bitcoin because rich one investment is more but middle class people's earn small amount of Bitcoins.because middle class one have small amount of investment that's it. Allare obtaining the Bitcoins. but investments and earning will be different.

[joromz1226]

That's not true!, I am one of the poor kind member when I was started a here in just a couple of months ago. Bitcoin can be use by any people in the world whether you are rich or poor, degree holder or not, ugly or not, bad person or good person are free to use it. As long as they are all willing to learn and study about bitcoin.

[Mr.grin]

of course not. Everyone can have bitcoin, but with hard work. Well, bitcoin is not for people who are very lazy. Even you can also produce bitcoin with lazing. Bitcoin is not only made for the rich, but for everyone in the world.