Cryptocurrency is poor men Lower class wall street

[michellee]

Every people can invest in cryptocurrency, whether if they are poor or rich. There are no limits for them to invest in crypto because they can use little money to buy and hold the coins anytime they want. But usually, if they buy crypto from the exchange or other places, it could have a minimum amount that they can buy. If someone wants to invest in crypto for just $5, he can buy any coins with that money.

AT the end the cryptocurrency are the way for rich and wealthy manipulate and scam the markets with their fud fomo and dumb actors who are on their payrol

The end results are and always will be average joe are out of his savings!

So let's not talk about cryptocurrency like its some romantic hero.

Who are the whales?  First?  Why we we dont who they are?  Are they paying any taxes? 

If you deal with cryptocurrency better ask help from experienced traders like me!
The cryptocurrency are very dangerous for newbies.

It will not be a problem if the whales manipulate the price because we have a chance to follow behind them, so we can also use the benefit of that manipulation. If we can do that, I am sure that we can make money like them, and no matter what happens to the market, we will be okay because we can use every moment in the market for our own benefit. A whale is a person who has huge funds that can buy any coins they want and hold them for some time or selling at once.

The whales don't want to tell who they are because it is something about privacy. I think they also pay the taxes as citizens in the country, but we don't know how much they pay taxes.

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[adzino]

How do you even come up with all these thinking? Your comparison makes no sense at all. What is a "poor mens lower class wall street"? I didn't know wall street had different social classes.

If you take the whole picture then yes, it is.
But what seems to be one thing at first glance turns out to be quite another. I don't think you can compare cryptocurrencies and the crypto market with wall street just because of similar concepts and trading.
On wall Street, they trade to get money, and cryptocurrency exists to become full-fledged money. This is the conceptual difference that breaks this comparison in the Bud.

But don't you think people right now trades and invests in crypto currencies to "get money profit"? I know cryptocurrencies were made to be used as a regular currency but that is not going to happen anytime soon.

[bits4books]

How do you even come up with all these thinking? Your comparison makes no sense at all. What is a "poor mens lower class wall street"? I didn't know wall street had different social classes.

If you take the whole picture then yes, it is.
But what seems to be one thing at first glance turns out to be quite another. I don't think you can compare cryptocurrencies and the crypto market with wall street just because of similar concepts and trading.
On wall Street, they trade to get money, and cryptocurrency exists to become full-fledged money. This is the conceptual difference that breaks this comparison in the Bud.

But don't you think people right now trades and invests in crypto currencies to "get money profit"? I know cryptocurrencies were made to be used as a regular currency but that is not going to happen anytime soon.

That's the problem. As long as the cryptocurrency exists as "that funny strange tool where you can break a good income in a short time", it is dead for the general consumer. Very few people actually want to think about global economic system problems, they just want money here and now to close another loan or buy a new coffee maker.
As long as the cryptocurrency is perceived as means of income, it will be dead as payment method.

[MCobian]

I also thought that most cryptocurrency investors were from the lower class economy, but it turned out that my guess was wrong.
There has been a lot of news related to big companies and rich people choosing to invest in cryptocurrency too. Even news from
cointelegraph says Mexican billionaire Ricardo Pliego invests in Bitcoin. This is proof that cryptocurrency is not just an investment
for the poor people.

[shoreno]

what does wall street mean? i already heard of that before but i forget its real definition . if crypto is for poor men then stocks will be for rich men ? that must be true because many rich people are indeed involved in stocks but rich people can also get involved in crypto while i still dont consider cryptos are for poor because cryptos value are getting expensive now  but crypto can be easy to understand but i dont also underestimate the poor  . i know poor people can get a good education if they work hard and study

[magneto]

I'd say that this is an inaccurate designation.

We need to firstly distinguish between cryptocurrencies and exchanges. They are two completely different concepts. Cryptocurrencies themselves are merely stores of value and mediums of exchange per se, just as any other currency. It is not, primarily, designed to be a speculative vehicle to generate returns the same way shares are; nor does it carry out the duties of an IB/wealth manager.

Secondly, it is apparent that major institutional players are heading into the crypto scene on a daily basis. So it is far more accurate to say that cryptocurrencies as an investment is more accessible in general - not that it is inferior/of a lower class.

[daarul50]

So is the cryptocurrency is poor men the lower class wall street?

But I like that

Are you kind of having obsession on wall street thing or something?
Cause i see in your post history mentioned wallstreet quite a lot everywhere in every topic lol
However some people might come to crypto after depressed enough by how wallstreet treated them like garbage as you found no luck there with your small amount of money and choose to switch luck here in crypto with higher risk?
I heard a lot of people come here because of this reason , for the sake of luck.

[Mauser]

So is the cryptocurrency is poor men the lower class wall street?

But I like that

It's fine for me. If you go to wallstreet and have like 10,000 USD to invest, they will just laugh at you. But when you invest that kind of money in crypto currencies you can get a decent portfolio of alt coins already. I agree with you in sense that the opportunities are limitless at wallstreet and in the crypto world. But there are also a lot of rich people by now going into bitcoins. I would say this was true 5 years ago, but by now it's more of a competition between these two.

[Chrystora123]

So is the cryptocurrency is poor men the lower class wall street?

But I like that

in the investment world there are no class differences (upper or lower class) there are only "PROFITS or LOSS".  Wall Street has been around for decades and is very strict with government regulations, currently, the rules for cryptocurrencies are still gray, there is still much debate as to which direction this will be mutually agreed upon (asset or currency).  Later, after the cryptocurrency has been validated by the government, we will see the cryptocurrency floor freely on wall street..

[Inkdatar]

A lot of people becomes rich because of cryptocurrency. In fact people are adopting this kind of technology due to the higher chance of earning profit. Even those billionare are also investing so I don't think it's like a poor men when in the truth many people are grateful knowing bitcoin early. So there is no distinction in whether a men or girl to enter in cryptocurrency.

[GeorgeJohn]

To adventure into cryptocurrency is good because cryptocurrency does not have differentiation or criteria that stipulates that crypto is only made for rich people or poor, that is wrong ideology because it's very clear to people that irrespective how large or small you are you have hundred percent right to invest or to adventure into cryptocurrency that is how it's since I noticed what is crypto, and it obvious that crypto increase someone's wealth if really pay attention into it.

[iv4n]

Well there's a bit of truth in this headline, "Cryptocurrency is poor men Lower class wall street" because crypto is the next generation of Wall Street! Literally anyone can start trading, with verification or completely anonymous! With a few dollars or millions! You just need a few basic things like device, Internet connection and some money for the start! You don't need a suit, you don't need to travel to another city, you don't need any third party service, you just need those 3 basic things and you are ready to go!
So crypto is open for everyone and anyone, 24/7! From the comfort of your home, you can't get better and easier than that!

[Shasha80]

Before Bitcoin reached the all-time high price, I agree that crypto investors are indeed from the middle and lower class.
Because wealthy people are accustomed to profiting from investing in gold and the stocks market, consider crypto investing
to be very risky. When the crypto price hype in 2017 then everyone started to realize the potential of cryptocurrency,
after that cryptocurrency investment became for everyone.

[South Park]

If you take the whole picture then yes, it is.
But what seems to be one thing at first glance turns out to be quite another. I don't think you can compare cryptocurrencies and the crypto market with wall street just because of similar concepts and trading.
On wall Street, they trade to get money, and cryptocurrency exists to become full-fledged money. This is the conceptual difference that breaks this comparison in the Bud.

But don't you think people right now trades and invests in crypto currencies to "get money profit"? I know cryptocurrencies were made to be used as a regular currency but that is not going to happen anytime soon.

It is true that right now most people are using cryptocurrencies as a way to invest and trade but in my opinion this was inevitable, people see the potential bitcoin of going up in value and instead of spending it they prefer to keep it, we can see that this is slowing down the initial goal of satoshi of making bitcoin a currency that is used to buy whatever you want, but people are never going to act against their own self interests in a willingly way and if they can see that they can earn money with bitcoin then that is precisely what they are going to do.

[bearexin]

And we enjoy it as well. That is what people are forgetting in crypto, it is fun. Not many people talk about that part of crypto world and I understand that there are people who invest just few dollars and there are people who invest tens of thousands of dollars or even maybe hundreds of thousands to millions and I get it.

However if you are a regular person like me, who normally doesn't do investing and usually doesn't have the option to rival stock market people because they act like they own that world, here in crypto world things are different. I can honestly feel like I could potentially fight to earn some money in spite of whales but the fact that I could have immense amount of fun while doing it and not only make profit but also entertained while doing it, that is incredible.

[jaysabi]

Crypto has same rules for everyone - no rules.

This is one of those things people believe to be true in theory but it’s not true in practice at all. People think bitcoin is the great equalizer. It’s not. It’s just another financial pool dominated by the rich. The undeniable way to build wealth in a capitalist society is access to capital, which bitcoin does nothing to address. It’s hasn’t equalized anything for the poor. They’re just as dominated by the rich in bitcoin as they are generally.

[Robi12]

Cryptocurrency isn't defined to be used by a specific class of people. This is purely people's money, and based on one's ability one can buy or invest. The profiting happens accordingly. In simple cryptocurrency has made lot many rich people. With its growth and increased price it looks like rich people only can benefit and make use of it. This is a wrong assumption, users who has the ability to observe the market and make closer prediction surely one can make big money out of small investment.

Cryptocurrency is something that is not for any particular person. Anyone can use it. Anyone who has an idea about cryptocurrency or experience working with cryptocurrency can make a lot of money by using that experience.  He will make a lot of profit in a very short time by investing very little money using that experience. Cryptocurrency is now lost. In the future, people will be attracted to more cryptocurrencies.  Profit will make cryptocurrency more popular with people in all countries

[Kong Hey Pakboy]

Cryptocurrency isn't defined to be used by a specific class of people. This is purely people's money, and based on one's ability one can buy or invest. The profiting happens accordingly. In simple cryptocurrency has made lot many rich people. With its growth and increased price it looks like rich people only can benefit and make use of it. This is a wrong assumption, users who has the ability to observe the market and make closer prediction surely one can make big money out of small investment.

Cryptocurrency is something that is not for any particular person. Anyone can use it. Anyone who has an idea about cryptocurrency or experience working with cryptocurrency can make a lot of money by using that experience.  He will make a lot of profit in a very short time by investing very little money using that experience. Cryptocurrency is now lost. In the future, people will be attracted to more cryptocurrencies.  Profit will make cryptocurrency more popular with people in all countries

Since cryptocurrency is a decentralized structure in which no central authorities and no government can control them, anyone can definitely use cryptocurrency in their daily lives. But I don't think you can make a considerable amount of profit by investing a small amount of profit in a short time in cryptocurrency because making a profit in crypto takes a lot of effort and time; someone can't always make a lot of profit in their daily trades.

[nomenclatur]

So is the cryptocurrency is poor men the lower class wall street?

But I like that

no cryptocurrency for all people there is nothing that differentiates it from the lower class people, everything remains the same cryptocurrency is a digital currency of the future that is supported by everyone from the poor to the rich, all of which has no relationship if people are poor want to buy and support cryptocurrency what's wrong with them having the right to choose what they choose because their goal is the same to make cryptocurrency stronger.

[reliable]

Before Bitcoin reached the all-time high price, I agree that crypto investors are indeed from the middle and lower class.
Because wealthy people are accustomed to profiting from investing in gold and the stocks market, consider crypto investing
to be very risky. When the crypto price hype in 2017 then everyone started to realize the potential of cryptocurrency,
after that cryptocurrency investment became for everyone.

How things changed with crypto is that those who were initially saying that stay away from crypto or it will just become worthless few years ago and now billionaires and big institutions are coming and buying it. It all started a decade ago and those who knew it will grow bought it as per their capacity and continue holding it because they believed in it and also was looking much better after 2017 when people realized that it has huge potential to grow and will be more adopted as well. And in 2020 we are seeing the same things that it is getting adopted and price will rise and bounce back too after fall.