We need to rethink the way we look at 1 BTC value...

[AicecreaME]

We should not look at 1 bitcoin as a very expensive currency because in the next few years it will go up even higher and even more expensive and when that moment comes then the only thing that we will feel is about regretting the opportunity to buy at the rate now and just hold it. Another thing is, it is not required to buy a whole bitcoin because we can either buy it piece by piece or work hard to get at least some of it and just do saving and keep collecting until we reach 1 bitcoin.

[Yakamoto]

The thing is newbies will get it in the hard way especially now that they can't do small transactions since fees will surely eat up their hard earned Bitcoin. Now that's sad. But it is not impossible since it really is feasible to achieve 1 BTC as long as you have the determination and eager to learn more as to how you will earn more.

Fees are not that ridiculous, they are high but if you didn't collect dust in your wallet you will manage. If you don't need to use BTC so wait for the scaling solution to be implemented.
Bitcoin upgrade which awaits us in the second half of the year hopefully will reduce fee rates significantly. Util then use bitcoin as emergency payment method only.

Exactly. The fees are not terrible if you have anything that isn't just small amounts in your wallet from whatever faucet you've been using. If they were as bad as everyone wanted to say they are, people simply would stop using Bitcoin and that would be the end of it for a lot of people. But they keep coming back, or never leave in the first place.

Wasn't there some agreement made for implementing segwit within the next 3-4 months? I could have sworn I saw something about an agreement like that which had 80%-some of the hashing power, along with many businesses, behind it.

[squatz1]

Well, this is only the real issue when 1 BTC is hitting a high price like it is now. This really wasn't as much of an issue when I first started and the price for 1 BTC was around $300-500 and owning one was nice and all but it wasn't such a high task to achieve. So it's not like we're looking at 1 BTC as being hard to hit, we're talking about how the price of the currency at 1 BTC is a high price point and hard to get to.

Though, I do seem to understand what you mean about the whole if you own .1 at x price you're still going to have a part of this wonderful asset and so on.

The problem is we need to get rid of decimals. Of course 0.1 BTC = 100 mBTC but the first, in a newbie's mind, will always look like a small quantity because of the decimals. People don't like owning fractions of things, they like whole things. Also, as price grows, there will be more and more 0's after the point which will make dealing with everyday quantities a lot harder.

Yeah, we're not going to get rid of the whole decimal system bud that's just wildly dumb and uncalled for.

[lmzxu]

Even in the best case scenario and BTC hitting unrealistically high values like $100,00,00, Having something like 0.10 or 0.01 BTC can't be called a bad thing, since you would get something from the cake HOWEVER if getting a full bitcoin at one time would be possible, that would be a reason of regret of not buying it, in this scenario case, even though a fraction does work, it would still mean you are not heavily investing into this market.

[NJB18]

Newbies, just remember what Lao Tzu said. "A journey of a thousand miles begins with a single step."  

It is good to dream big and have a goal but please be patient. Sometimes success really takes time. I mean, if the 1 bitcoin you are talking here is an earned one not just bought or replaced with its fiat value.

If you are trading, you will get there soon. But it is not good to rush things.

[the_poet]

The problem is we need to get rid of decimals. Of course 0.1 BTC = 100 mBTC but the first, in a newbie's mind, will always look like a small quantity because of the decimals. People don't like owning fractions of things, they like whole things. Also, as price grows, there will be more and more 0's after the point which will make dealing with everyday quantities a lot harder.

Yeah, we're not going to get rid of the whole decimal system bud that's just wildly dumb and uncalled for.

Then no wonder if many people will get scared away from joining BTC because they find (and they're right) the price per single Bitcoin is too high and think they have missed the boat. Perhaps they will even start pouring money into other cryptos that have much more affordable entry prices.

[Pettuh4]

The problem is we need to get rid of decimals. Of course 0.1 BTC = 100 mBTC but the first, in a newbie's mind, will always look like a small quantity because of the decimals. People don't like owning fractions of things, they like whole things. Also, as price grows, there will be more and more 0's after the point which will make dealing with everyday quantities a lot harder.

Yeah, we're not going to get rid of the whole decimal system bud that's just wildly dumb and uncalled for.

Then no wonder if many people will get scared away from joining BTC because they find (and they're right) the price per single Bitcoin is too high and think they have missed the boat. Perhaps they will even start pouring money into other cryptos that have much more affordable entry prices.

Exactly it will be demotivational as a lot of newbies are looking for opportunities to join Bitcoin but upon hearing the price of one Bitcoin it sounds like this belong to the elitist class and many may give up right from there so we indeed need to break it down and call it in satoshis.

[hatshepsut93]

The problem is we need to get rid of decimals. Of course 0.1 BTC = 100 mBTC but the first, in a newbie's mind, will always look like a small quantity because of the decimals. People don't like owning fractions of things, they like whole things. Also, as price grows, there will be more and more 0's after the point which will make dealing with everyday quantities a lot harder.

Yeah, we're not going to get rid of the whole decimal system bud that's just wildly dumb and uncalled for.

Then no wonder if many people will get scared away from joining BTC because they find (and they're right) the price per single Bitcoin is too high and think they have missed the boat. Perhaps they will even start pouring money into other cryptos that have much more affordable entry prices.

Exactly it will be demotivational as a lot of newbies are looking for opportunities to join Bitcoin but upon hearing the price of one Bitcoin it sounds like this belong to the elitist class and many may give up right from there so we indeed need to break it down and call it in satoshis.

Good point, but satoshis are too small now, people don't like operating with big numbers either, usually people all over the world evaluate money in US dollars, even if they use their native currency most of the time, because US dollar is stable and can be exchanged almost everywhere in the world. So, mBtc is the best unit now, until we reach 5 digit values of Bitcoin.

[Tyrantt]

Well people don't tend to look at values in decimals, of course if some new guy is looking to buy a bitcoin, he's going to go for the round number and probably won't even cross the mind to buy something like 0.3 or less. Now we can start using some different terminology for 1$ of bitcoin (aprox 0.0004) instead of speaking of 1btc that's $2.5k.

[angaper]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

There are still many bitcoiners who dream of the day when each satoshi is worth a dollar, and maybe that's the reason so many newbies still waste their time in faucets to get a few satoshi every day.

I personally do not think that will ever happen, nor do I think it is a good idea to focus all our efforts on acquiring bitcoins, as it seems ideal and more realistic to achieve our financial goals to save some amount of coins as a long-term investment, while we diversify our capital into multiple investments of varying degrees of risk to ensure a quiet retirement without depending entirely on the future of bitcoin.

[aTriz]

Any amount of bitcoin is good to start with, sure 1 BTC might be ideal to get you started trading and all that. 1 BTC isn’t a really big amount to be honest. We need to stop this negative thinking about how one bitcoin is so hard to earn while in fact if you put some effort in it, there are heaps of campaigns to earn bitcoin and it won’t be long before you will have 1!
 
But I understand what you are trying to say, about how newbies are not really interested into bitcoin since dont have 1 BTC, which they think is what is needed to start trading and investing with Bitcoin. Well to all the new people, any amount is an amount to start investing in. So to all the newbies here, start before it is too late!

[Gastotade]

Any amount of bitcoin is good to start with, sure 1 BTC might be ideal to get you started trading and all that. 1 BTC isn’t a really big amount to be honest. We need to stop this negative thinking about how one bitcoin is so hard to earn while in fact if you put some effort in it, there are heaps of campaigns to earn bitcoin and it won’t be long before you will have 1!
 
But I understand what you are trying to say, about how newbies are not really interested into bitcoin since dont have 1 BTC, which they think is what is needed to start trading and investing with Bitcoin. Well to all the new people, any amount is an amount to start investing in. So to all the newbies here, start before it is too late!

Small amount can be a big amount when managed correctly,joining campaigns will be a way to earn so we can start trading and so on ,just keep on doing task and you may not noticed that you already have 1 Btc in time.

[Omega Weapon]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

The value of a single bitcoin is still not that high in my opinion, also we are going to get in an unstable time in bitcoin and that may be enough to bring the price down in bitcoin and with that some new users will be able to buy bitcoin cheap once again, so don’t renounce to the idea of owning 1 BTC or 10 or 100BTC if you do I will assure you, you will never make them.

[deisik]

The problem is we need to get rid of decimals. Of course 0.1 BTC = 100 mBTC but the first, in a newbie's mind, will always look like a small quantity because of the decimals. People don't like owning fractions of things, they like whole things. Also, as price grows, there will be more and more 0's after the point which will make dealing with everyday quantities a lot harder.

Yeah, we're not going to get rid of the whole decimal system bud that's just wildly dumb and uncalled for.

Then no wonder if many people will get scared away from joining BTC because they find (and they're right) the price per single Bitcoin is too high and think they have missed the boat. Perhaps they will even start pouring money into other cryptos that have much more affordable entry prices.

Exactly it will be demotivational as a lot of newbies are looking for opportunities to join Bitcoin but upon hearing the price of one Bitcoin it sounds like this belong to the elitist class and many may give up right from there so we indeed need to break it down and call it in satoshis.

Good point, but satoshis are too small now, people don't like operating with big numbers either, usually people all over the world evaluate money in US dollars, even if they use their native currency most of the time, because US dollar is stable and can be exchanged almost everywhere in the world. So, mBtc is the best unit now, until we reach 5 digit values of Bitcoin

I agree that people may be scared away by the price of a single bitcoin

But, on the other hand, if we launch something like a monetary reform aiming at smaller denominations and a new Bitcoin (today's 1 mBTC) would be worth, say, a few dollars (like it was 7 or so years ago) and thus the total supply becomes 21 billion coins (note that I don't mean removing the cap nor increasing the supply as such), people may start thinking that Bitcoin is too cheap now. So it in fact cuts both ways ("too big, too small, size does matter after all")

[ufaiz50]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

1 btc is indeed expensive for the newbie it's true it will be hard to get it and accept the fact . with minimal experience about bitcoin not even use capital and just earn for free bitcoin. I'm sure after they have a lot of experience for example trading "1 btc too expensive" will disappear and they will say "0.01 btc very cheap". I think they don't mean to say 0.1 btc is not great it's just 1 btc is more than 0.1 btc.

[Pearls Before Swine]

Yup, true! I have been told even buying $50 dollars worth of Bitcoin, or even $10 worth of Bitcoin is good enough to get you started into Bitcoin.

Owning at least 1 BTC now would be ideal, and its not bad owning 0.1 either, is just that the earnings you might get is not even a lot. But every newbie should not think that way, instead, they should try to earn/buy Bitcoin slowly and saving up, and I bet that isn't impossible. It just takes time.

True that.  I'd add that even doing faucets in the beginning is a worthwhile endeavor.   Bitcoin could go to a million,  and those faucet earnings could become significant.   It's also good for you guys to invest in an English dictionary.   Either that or stick to the local boards. 

[hawthelegend]

Wow, great topic op! And i gotta say, as a newbie with this this, all the replies are really inspiring and full of knowledge. I too am dreaming to have lots of btc in my hands someday, but sadly all the btc i have today is just worth more or less 6 dollars. And my only source of income is signature campaign. Because i have no work or any means that i can take money out of to invest in btc.. wish there was more i could do to earn more...

[rockem5]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

I've been thinking about this lately. 1 BTC should be like alot less of a value than the current price. and we have something like 1 MilliBTC or something that could be the higher value. Sorry if my explanation was not clear. English isnt my first language.

[apoorvlathey]

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

The people can invest any amount, no matter small, because the profits percentage they would get would be the same.
And as the time passes by, people may invest or earn more according to their needs, because 1 BTC goal may be difficult but not impossible !

[epitome]

The people can invest any amount, no matter small, because the profits percentage they would get would be the same.
And as the time passes by, people may invest or earn more according to their needs, because 1 BTC goal may be difficult but not impossible !

With the price of bitcoin this high,unless you are capable to investing one hundred thousand dollars you wont be able to make any mad profit,people really like to make some profit and it wont happen if you are investing small amount of money,but if you really like to ride the rally then any form of investment will make you a profit.