bitcoin goes down, no new rich people anymore

[pixie85]

How many rich people have been created by Bitcoin so far? For that we need to know about the distribution of coins by the users. And the only information that I could find about this topic is an old thread here in Bitcointalk:

https://bitcointalk.org/index.php?topic=316297.0

According to it only around 350,000 people own more than 1 BTC (the data is from 2014, and the numbers will be even lower now). The number of users owning more than 1,000 BTC is only around a thousand.

I've seen the estimations and there are many different but people still agree on one thing. You won't need to own 1 Bitcoin to be rich! Now 1 is still within your grasp and many of us here on this forum have 1 or more but when people around the world start using it and will need at least a few satoshis to do it everyone who has even 0.3 BTC will be a very rich man. By that time we won't even have 18 million of available coins which is a very very low number.

[bettercrypto]

because bitcoin prices dropped as a result no new rich people arrived suddenly. . . on the contrary, many people go bankrupt because they suffer losses ... haha ​​haahaa

Sorry you are in the wrong expectation. Bitcoin has many supporters. Imagine, it can easily beat its previous price or double the price. Bitcoin is the most popular cryptocurrency in the world. In fact, some of my neighbors here known bitcoin while they did not know the altcoins. Bitcoin can surprise us. Do not underestimate its capability

[Carreuh]

If people are smart in investing and trading, the price doesn't feel too big with the results, but even though the price is as high as the sky but we don't know how to invest in bitcoin then you will become new poor because of the losses you get

[fortunecrypto]

because bitcoin prices dropped as a result no new rich people arrived suddenly. . . on the contrary, many people go bankrupt because they suffer losses ... haha ​​haahaa

The only people who go bankrupt are those ICO investors who picked the wrong project, and those who invested in Bitcoin on its all-time high back 2017 and sell it at a loss when the bear trend occurs, but so far investors are doing great and still making money on stable coins in the market, I wonder where you are coming with this kind of post.

[Clark05]

The people who invested became rich if fhey sold their bitcoin so if the price goes down like 2018 they are not affected.

For now because bitcoin rising up they have again new millionaires and I think you are envy of them because you will not able to rich because you do not have bitcoin.

Im not rich but the important I earn money from the bitcoin and have little hope that crypto turn as too as rich person like them.

[yusupjatigumilar]

That I think is only a reasonable market correction, when the price of bitcoin is rising significantly naturally it will experience a correction because of the behavior of market participants who take profits to buy their bitcoins at a previous low price, then they sell when there is a difference between the purchase price and the selling price for profit, this is what makes the price of bitcoin undergo correction and the cycle will continue to occur as long as there is still buying and selling activities in a market.

[Sithara007]

I've seen the estimations and there are many different but people still agree on one thing. You won't need to own 1 Bitcoin to be rich! Now 1 is still within your grasp and many of us here on this forum have 1 or more but when people around the world start using it and will need at least a few satoshis to do it everyone who has even 0.3 BTC will be a very rich man. By that time we won't even have 18 million of available coins which is a very very low number.

Charlie Lee (creator of Litecoin) once said that everyone should try to own one Bitcoin, before it becomes too expensive to buy. I agree with him. IMO, if you want to get rich from BTC, you need to own at least BTC1.00 in your wallet. I have no doubt that in future the price of BTC would multiply by manifold. Even then, I don't think that anything less than 1 BTC would give you the financial freedom to quit your full time job.

[iMark]

because bitcoin prices dropped as a result no new rich people arrived suddenly. . . on the contrary, many people go bankrupt because they suffer losses ... haha ​​haahaa

This is a funny story I read today. Bitcoin prices have doubled in 2019, so any reduction will not affect it. It was possible to add a lot of newly rich people when they invested in Bitcoin in early 2019. Don't try to create negative and against Bitcoin because this makes you criticized.

Except if bitcoin is dead then no one will become rich from bitcoin. but for price down it will not make a problem,precisely many people
use it to buy more? thats our chance to come in again? don't always see a falling prices from the negative side only dude.

[Xampeuu]

because bitcoin prices dropped as a result no new rich people arrived suddenly. . . on the contrary, many people go bankrupt because they suffer losses ... haha ​​haahaa

This is a funny story I read today. Bitcoin prices have doubled in 2019, so any reduction will not affect it. It was possible to add a lot of newly rich people when they invested in Bitcoin in early 2019. Don't try to create negative and against Bitcoin because this makes you criticized.

Except if bitcoin is dead then no one will become rich from bitcoin. but for price down it will not make a problem,precisely many people
use it to buy more? thats our chance to come in again? don't always see a falling prices from the negative side only dude.

I agree. every condition is an opportunity. when the price is peaked, of course many people have taken advantage. and when the price is below, it's time for them to plant again, and wait for the harvest to arrive

[michellee]

I don't think so because I am sure that there are rich people who can make money from bitcoin and they still produce more and more money from cryptocurrency. In cryptocurrency, we know that we have many ways to earn more, and it's not just from bitcoin only, but we also have the chance to make money from altcoin. If that person wants to make money and he can try to search in many ways, I am sure that he has a chance to be rich people.

[klaaas]

Except if bitcoin is dead then no one will become rich from bitcoin.

It cant be dead since it always can be used.
It is never the perfect moment if you fear the drops, buy inn with steps up and downwards and time will tell if you get rich.

[Wolfwar]

Except if bitcoin is dead then no one will become rich from bitcoin.

It cant be dead since it always can be used.
It is never the perfect moment if you fear the drops, buy inn with steps up and downwards and time will tell if you get rich.

One way or another, a cryptocurrency market is a ratio of risk, experience and good income.  Very often, the risk is at odds with good results, but only an experienced user can draw real conclusions in order to get a good result of their activities.

[eaLiTy]

According to it only around 350,000 people own more than 1 BTC (the data is from 2014, and the numbers will be even lower now). The number of users owning more than 1,000 BTC is only around a thousand.

The question will be, how they came to that conclusion that only 35000 people own bitcoin, what if they analyzed different wallets that holds one bitcoin or less and if that is the case the number of people holding bitcoin during 2014 will be much lesser as people usually store their coins in multiple wallets and many store their coins in exchanges and other wallets online, so it is a difficult task to get the exact prediction when it comes to those numbers.

[candra raditya]

Maybe you better think in the long run, so you don't lose direction in every drop. In the long run there is still a chance that bitcoin will pump up, and hold on to the profits you want.

[RamBahadur.Gurung]

Maybe you better think in the long run, so you don't lose direction in every drop. In the long run there is still a chance that bitcoin will pump up, and hold on to the profits you want.

Yes. The future prospects are pretty good, because the user-base continues to expand. Despite all the exchange hacks and FUD we had so far this year, the number of users continue to increase across the globe. And also, the market share of Bitcoin has increased to around 55%. That means that some of the users have shifted to BTC from the alts.

[semobo]

The Bitcoin investment is always so don't think about Getting Rich in quicktime it is all about luck and time for getting good success in Crypto investment otherwise you can definitely make the profit in this situation also but being and with its economy is little bit difficult here in this situation.

[Rheachan1425]

because bitcoin prices dropped as a result no new rich people arrived suddenly. . . on the contrary, many people go bankrupt because they suffer losses ... haha ​​haahaa

Bitcoin price down but not all have a result of loss.
Other bitcoin holder watch the price of bitcoin every day. If it goes down or up on price. So they know when to hold or go their bitcoins.
For those who invest they just manage to hold a bit because they don't have choice but to hope that the price of bitcoin will go up again.

[marcbitcoins]

No one will really get rich in a market like this but hopefully this is just a temporary fall down that the bullish market was just interrupted due to stolen BTC that are now being sold in the market but once the selling is completed then expect a price pump soon as lower BTC price means an opportunity to buy more cheaper BTC.

[bitcoinisbest]

The Bitcoin investment is always so don't think about Getting Rich in quicktime it is all about luck and time for getting good success in Crypto investment otherwise you can definitely make the profit in this situation also but being and with its economy is little bit difficult here in this situation.

Btc will help people to make money provided they stay invested and bought at reasonable rates during bear market and not at high prices during bull run . This will help people to stay invested and get best returns on their investment .

[Naughty Princess]

The Bitcoin investment is always so don't think about Getting Rich in quicktime it is all about luck and time for getting good success in Crypto investment otherwise you can definitely make the profit in this situation also but being and with its economy is little bit difficult here in this situation.

I agree. There is no easy way to get risk, you have to work hard for it and face different risk and when you survive then you get success. Investment is not always gaining profit, it is always losing and you have to study the market when to get profit. No more rich because price drops but when it recovers, many are waiting for it to gain high.