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

[KaranRaut]

We have many eco friendly and sustainable projects being advertised in the web.. Most claim to do away with fees.. There will be developments and challenges.. No one promised a smooth surf but the community is working towards a freer economy.

[Pettuh4]

You know how much bitcoin fee is right now.
It's more than 2$ no matter how small your tx is and if you made a tx with a low fee then it will take a huge amount of time get a single confirmation.
So you can say bitcoin is for rich only :/

I always set the commission myself. And I put it less than what my purse offers me. And then I use special sites, in order to make my transaction faster. It works

It's really annoying and so it's imperative we completely avoid online wallets and get to use electrum or blockchain.info wallets so that we can have options for our fees.

[stergium]

We see that bitcoin's price are very high compared years ago. It does not mean that it is for rich only.
It may be used by everyone. Rich people are not the only one having cellphones, also average people use and needs it everyday.
I can also say that access to bitcoin depends on the person if he is really eager to know bitcoin.
You can earn without investing anything but your time here and sharing what you know.
Like myself, I am not rich, my first payment was great. I did not invest anything. Just my time and some knowledge I have from reading.

Bitcoin for the rich only? Who says that? I myself used to be very poor. However, in a very beautiful day, I came across Bitcoin on the internet. I decided to learn trading and study about Bitcoin. Now I'm successful without any help.

Yes this is absolutely right that bitcoin is not just for the rich poor people can also earn bitcoin. Bitcoin gives opportunity to all the people. The difference is just that the rich people invest more money so they get more profit but as you told that you were poor and bitcoin helped you so this is more than enough.

[shursight]

I can see that bitcoin is at a very hige price, not ath. But maybe it is a little bit expensive for those who wanna start investing on it, that is why there are too many altcoins in the market right now, and you can do almost the same, buy and hold, speculate with the price. The market is full of options, you only have to look for a good opportunity. Also, everyone can buy the amount of bitcoin that he desire, there is no minimum buy on bitcoin.

[finthebar]

You know how much bitcoin fee is right now.
It's more than 2$ no matter how small your tx is and if you made a tx with a low fee then it will take a huge amount of time get a single confirmation.
So you can say bitcoin is for rich only :/

Is it possible/likely that BTC might end up being like a store of wealth and a different blockchain with lower fees and faster confirmations might be used for everyday transactions?

[JL421]

It is only for rich for sure the price will continue to increase if you want to be rich like others you better bitcoins during this fall and don't sell it for the next 5 years or so and enjoy high returns like others are getting currently

[panju1]

You know how much bitcoin fee is right now.
It's more than 2$ no matter how small your tx is and if you made a tx with a low fee then it will take a huge amount of time get a single confirmation.
So you can say bitcoin is for rich only :/

Is it possible/likely that BTC might end up being like a store of wealth and a different blockchain with lower fees and faster confirmations might be used for everyday transactions?

That is definitely possible, if scaling issues crop up again. Right Now, the mempool is kind of empty and people are not facing problems in getting transactions confirmed. But as Bitcoin becomes popular, invariably blocks will start getting full. We could then move to off chain solutions.

[gabmen]

Its basically for everyone. That's the good thing with btc. You don't really need to have a big capital and you can even earn if you're diligent enough. The opportunities btc gives people is quite amazing

[LuciferAB]

No Bitcoin not only for rich. It for all. Most of rich people doesn't use bitcoin. Most of middle standard people use bitcoin. Bitcoin give the opportunity to a poor people to become rich. When creators of bitcoin doesn't differentiate between poor and rich so why we

[Ayiranorea]

Its basically for everyone. That's the good thing with btc. You don't really need to have a big capital and you can even earn if you're diligent enough. The opportunities btc gives people is quite amazing

Its an asset that's generated for common usage without any kind of segregated usage. Maybe the increased price shows it as an asset that can be used by the rich. In reality one who has certain knowledge in technology and related activities could easily know about it and use it.

[Klestar]

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!

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

Of course no! Becuase any people can use this poor or rich , as far as now many rich people interesting to invest in bitcoin so that's why the value of bitcoin is totally increeasing , bitcoin is for all.

[Scorpion]

Anyone can buy .001 of Bitcoin and think of it as percentage growth not just overall net gain.

[Fatemablabla]

It is actually for everyone.not only for rich.even rich people dnt use it.they dnt need it.we the middle cls use it.bt for the begining you jeed to have some money.that it.

[hajar]

anyone can buy and sell bitcoin and it doesn't matter if you are not rich because bitcoin is not for rich to use it but for also the poor to become rich. Bitcoin can be the bridge for us to become rich but it needs a lot of work ethic and also perseverance to become rich so i don't think that bitcoin is only for the rich.

[unbotak]

If bitcoin prices soar in the near future, then bitcoin will only be for the rich only, bitcoin will damage their good name as a decentralized currency, many miners who want big costs so that all no longer make sense, very different from the concept of decentralization, because the price is already high.

[boongky51]

i think no, as i know many people get rich by using bitcoins. it depends on people on how there bitcoins grow fast so they can
be as rich as them ^_^

[NakkaShashi]

No it is not only for rich.I am not rich but I can still able to transact with less fee.It is a peer-peer network and will not change this behaviour with the increased transaction fee.There is nothing serious in increasing the fee as the price of the coin is increasing.

[sirslayer]

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!

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

Of course no! Becuase any people can use this poor or rich , as far as now many rich people interesting to invest in bitcoin so that's why the value of bitcoin is totally increeasing , bitcoin is for all.

Well I don’t understand why the people are going to create misconception about bitcoin because I’m looking every day some people are going to misguide the people bitcoin is the only one digital currency which is for every one either they are rich or poor or they are from middle class billionaire can also use bitcoin and a common man can also use it and every level of citizens can take advantage of it.

[ashfer]

There is no such rule like bitcoins are meant only for the rich as there is no such rule stating that btc are meant for rich the only thing is that the market is growing and hence it is doing pretty well and its running smoothly it cannot be said as something which is meant only for the rich everyone has access to bitcoins whether they are rich or poor bitcoins is a good investment which is not only meant for the richer class anybody can invest in it in any amount because of the trust it has gained it will continue its growth and if you don't have money to buy btc there are some people who work with bitcoin forums just to earn btc and so your statment can be stated as wrong concept

[Gontxi]

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!

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

I think a lot of ways to get bitcoin. not just for the rich just like what you say. basically it all requires knowledge of crypto and bitcoin, so I think there are many ways to get bitcoin depending on what you plan and what you do.