Type of people who buy bitcoin.

[TheBitcoineers]

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

[Willitivity]

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

I can't speak of other countries as I do not know the situation of things there. In my country, people just focus on getting a bit of btc, no matter how small, they try to get some funds in regardless of how much they earn or if there financial situation is good.  That is why I will forever be grateful for the fact that Bitcoin has smaller denominations and you don't necessarily need to own a full Bitcoin (1BTC or more) to be part of the community.  I do have a friend without a strong financial background but he was always offloading a portion of his tiny salary to buy btc between the range of $3.7k to $7000. Today, he's good with holdings.

[Rengga Jati]

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

I think this is one of the privileges of Bitcoin (and of course other cryptocurrencies). Everyone has the same right to buy Bitcoin. Even in Exchange Local in my country, we can buy a minimum BTC with less than 2$. Of course, the amount of money spent usually will affect the amount of profit we get. The bigger money we use, the opportunity to get a bigger profit becomes higher. But it is directly in line with the risk that will be accepted.

But what is certain is, never use the daily money needs to buy Bitcoin. However, we can set aside a little by little from the wages that we get to invest in Bitcoin. This is what I did. But of course, everyone must reset first before truly going to enter the world of Cryptocurrency.

[mk4]

In summary: You can buy bitcoin as long as you have money regardless of your financial situation, and remember that you can buy fractions for a bitcoin. Regardless how crappy and how low-paying your job is, as long as you are able to save some money, then sure you can buy bitcoin. But of course, obviously the wealthier people would be able to take advantage of Bitcoin more; just as with any other investment.

[TravelMug]

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

I think majority here will agree that everyone is just an average joe investor. So no, your mindset is your, bitcoin is for everyone, not just for the elite or those who have a lot of money. If course if you have deep pockets you have an advantage here, but it doesn't mean that normal people can't invest on bitcoin, you just have to start with baby steps and then continue to accumulate bitcoin overtime.

Just look at this chart:

https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

[Welsh]

This would be hard to survey, at least accurately. If you think about any type of invest, and you consider the Gamestop, and various other movements recently, there's always a wide range of people who get into investing. Bitcoin, at the very start was certainly for those that were more tech savvy, and its evolved as a more open minded currency. I still think its not on the mainstream consumers level, but those that are either willing to take risks, in order to earn a lot or those that believe in the technology. Now, those that are willing to risk a lot, to earn a lot could be from either background. However, from my observations those that come from poor backgrounds are more likely to risk higher amounts of their income for possible returns. As opposed, to those that come from rich backgrounds, who carefully invest, and when they do invest its usually not a large portion of their net worth.

Lets just pretend that we could survey the general population of Bitcoin accurately, I would expect to see more people from poorer backgrounds than I did in 2011. I would also expect more consumer level, as opposed to tech savvy people back in 2011. If we were to compare Bitcoin to altcoins, then I would expect the altcoins industry to have more people from poorer backgrounds hoping that they can catch the "next Bitcoin".

[Silberman]

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

I do not know, but the way you frame the question makes it seems that you think you can only buy full bitcoins and this is not the case, you can buy small amounts of it, the only issue is that due to the high fees if the amount is too small it could cost you more the fees than what you want to buy, however people from all walks of life buy bitcoin, but as it gets more expensive then you need more cash to buy one whole bitcoin to the point that only a minority of people can afford bitcoin now, but if you had come to this market years before it could have been affordable to almost everybody.

[LogitechMouse]

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

The word "normal" isn't applicable because if you will think, there are some abnormal persons then??
I think the exact word is "average" people. Those who aren't that rich and not considered as elite like most of us here.

I'm an average person and for sure there are others here who aren't considered privilege and not belong into the elite families but somehow manage to buy and hold Bitcoin. Average people who are having a minimum wage salary can still buy Bitcoin. Anybody can buy Bitcoin but it will depend on the person itself.

Does he have extra money to buy it? Does he know where and how to buy Bitcoin? Is buying Bitcoin will not affect his daily lifestyle or daily life? Some of the question that people have different answers but in general, anybody can buy Bitcoin.

[YOSHIE]

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not.  Thanks.

Who said that to you, you shouldn't think so, satoshi didn't say so.

Everyone can own Bitcoin even if he is not an elite person or something.
The gist: Bitcoin's purpose is as below.

Bitcoin is money, and money is always used for both legal and illegal purposes. ... Bitcoin is designed as a major step towards making money safer and at the same time serving as a form of protection against financial crimes.
For example, bitcoin cannot be counterfeited at all.

So, everyone can own it and use Bitcoin even though he is a person who has minimal income.

[cryptomaniac_xxx]

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not.

Bitcoin initially was developed as a payment method, it was not a investment or speculative asset. So Satoshi created bitcoin for this purpose then it's for everyone. Although bitcoin has evolved in the last 10 years, the tenant still remains the same, whales, average Joe traders, working people is free to join and 'invest'.

Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

Yes, you can still manage to do it even if you are a normal minimum wager, you can try DCA,

https://www.investopedia.com/terms/d/dollarcostaveraging.asp

[Barry Mantle]

Yes, my friend, even if you only have a small amount of money, you can invest in a small amount of Bitcoin hoarding, because the appreciation of Bitcoin is huge, you don't have to worry about whether it rises or falls every day, just as a long-term investment.

[kotajikikox]

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

I don't know what you think about Bitcoin , but if you think this will be your literal "Investment" then why worry about that Small amount of investing?

If you will take a look back in last year ,Bitcoin price lowered the value down to 4k , and just with in almost a  year? the price climbs up to more than 15x , so why hesitate to invest here?

[meanwords]

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

Don't worry about how much you are investing as long as you can afford to lose it. I'm religiously investing like $0.5 every single day since 2018 whatever the price. Bitcoin became like my personal piggy bank. It's not much if you think about it but do the math and you'll realized how big this can be. It's better if you are earning more than you need.

[Coin_trader]

Yes, my friend, even if you only have a small amount of money, you can invest in a small amount of Bitcoin hoarding, because the appreciation of Bitcoin is huge, you don't have to worry about whether it rises or falls every day, just as a long-term investment.

You should save the small amount of money and invest in BTC by batch so that you will not hurt by transaction fee. Besides that, The minimum amount of investment in BTC is very high due to the transaction fee amount and exchange minimum deposit. Honestly, BTC is not that much low budget investors friendly. Much better to invest on small caps if you have low budget.

[hd49728]

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not.

Different types of bitcoin buyers
- Buyers who buy after their investigation on bitcoin (technology, usecases, adoption, future growth)
- Buyers who buy after being convinced by the others (talk, discussions, news, media, pump & dump signal groups). They don't have knowledge, don't do investigation. Only buy based on recommendation and hope for luck.
- Buyers who bet their lives with bitcoin but use their own money. They don't take loan to buy bitcoin.
- Buyers who bet their lives with big loan to buy. They are one of worst buyers.

Are normal people working minimum wage buying bitcoin, even if it is a small amount?

Buy the fraction of bitcoin with small money you have. Satoshi said.

Eventually at most only 21 million coins for 6.8 billion people in the world if it really gets huge.

But don't worry, there are another 6 decimal places that aren't shown, for a total of 8 decimal places internally.  It shows 1.00 but internally it's 1.00000000.  If there's massive deflation in the future, the software could show more decimal places.

If it gets tiresome working with small numbers, we could change where the display shows the decimal point.  Same amount of money, just different convention for where the ","'s and "."'s go.  e.g. moving the decimal place 3 places would mean if you had 1.00000 before, now it shows it as 1,000.00.

[uneng]

Bitcoin isn't for a small social group solely. I believe it's for the type of people who worry about their future and the future of those they love and care for, doesn't matter if you are rich or poor. You don't need to worry about your investment size, because even some hundreds of thousands of satoshis worth the purchase. Keep in mind there can be only 21 million of btcs in the world and many of them are already lost, so there is a lot of potential the currency is going to increase much more in price as demand (adoption) increases, turning the investment you make today very profitable tomorrow.

[DeadCoin]

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

Don't worry about how much you are investing as long as you can afford to lose it. I'm religiously investing like $0.5 every single day since 2018 whatever the price. Bitcoin became like my personal piggy bank. It's not much if you think about it but do the math and you'll realized how big this can be. It's better if you are earning more than you need.

That is why bitcoin has a small fraction and the smallest is 1 satoshi. You can invest even 1 satoshi if you want, but if you have a job, it is reasonable if you invest at least 2-3% of your monthly earnings invest on bitcoin. But this upon on the willingness of people because there are types of people who always afraid of investment. In short, we had a different mindset.

There is no problem if you are the type of person who has a source of income in the minimum wage, if you can afford to invest, just go for it.

[acener]

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.

Everyone could buy and use it,
No matter how rich or poor a person is they could use it and earn from it.
It is for everyone not just for the rich we don't need to own 1 whole BTC we could just buy or hold what we could afford.

[electronicash]

anyone can buy a small amount. anyone who wants to invest their very little amount of money in order to have a better chance in the future will buy BTC. you don't have to be a millionaire but having just internet access will give you a chance to win.

certainly, the ones who can afford are buying BTC, the rich ones are buying BTC because they are also investing. you could also say there are criminals also buying BTC.
the elite sure are the ones going to be the big buyers. you can look at elon musk. we never know how much BTC he got.

[pakhitheboss]

it all depends on how efficient you are in managing your expenses. Bitcoin is not meant for the elite or the privileged, it is for everyone. You can invest a minimum of a dollar or whatever you can afford to spare every month. In my country, you can buy Bitcoin for as low as $2 from a local exchange.

As the USD value of Bitcoin increases, it will be hard for anyone to buy 1Bitcoin but you still can buy a few satoshis every month and in the near future those satoshis will get converted into 1Bitcoin if continue to buy.