The Great Thing is about Bitcoin

[bnntalk]

Today Morning, One Thing came in my mind. BTC is really an amazing concept not only for the rich people while the for poor also, because no one can control the price of btc. For example, at 2017 -2018 if you are invested in btc then right now you can collect a huge amount to use like in education , in health, in your family or your future plan.

[UKprod]

While it was initially true that rich cannot control the price of the Bitcoin. Currently, due to lot of trading in Bitcoin, the price of Bitcoin is subject to lot of volatility and hence the price can be manipulated by big players who are generally referred to as whales. Still the system of issuance of new Bitcoin cannot be controlled and hence it remains decentralized.

[michellee]

Only you control your bitcoin and you have your right not to tell how many bitcoins you have to other people while your bank do not know about that. The banks will only know the money in your bank account while you should not make them suspicious about the largest transaction if you are not too often make a big money in your bank account.

And related to the bitcoin price, you do not need to afraid of the price volatility but that will be good for you because if you can buy at a low price and sell at a high price, you will get profit and that means, you can make money.

[mk4]

It's what's so good with it: anyone can take advantage of it. It takes a lot of investing and finance illiteracy to think that bitcoin is only for the rich just because it's so-called "already expensive". (even though, you know, you can buy fractions of a BTC)

[Harriett]

It is indeed a great invention. I don't know how many dollars Bitcoin will rise to in the end. After reaching a certain price, what will happen to the next stage of Bitcoin?

[zanezane]

We never really lose this kind of thread praising bitcoin even though it's all the same, I mean there's no way you can describe bitcoin as something bad so most of the people who do this kind of thread are spewing the same thing.

[oktana]

Today Morning, One Thing came in my mind. BTC is really an amazing concept not only for the rich people while the for poor also, because no one can control the price of btc.

Umm... I kind of disagree with this. Elon Musk made me realize that rich people can cause a news which will then cause a price dump or pump. If he tweets "Buy Bitcoin" you'll see the pump that'll follow. What I think that makes it an amazing concept is that irrespective of who you are, how much you have, no one can access your Bitcoin, never until you give them your private key(never give it out).

[witcher_sense]

Today Morning, One Thing came in my mind. BTC is really an amazing concept not only for the rich people while the for poor also, because no one can control the price of btc. For example, at 2017 -2018 if you are invested in btc then right now you can collect a huge amount to use like in education , in health, in your family or your future plan.

It should be stressed that bitcoin is not meant to cure inequality in this world of poor and rich. What bitcoin has been doing so far and will continue to do is give everyone an equal opportunity to convert their time, effort, and skills into something that cannot be stolen and debased. Presently, the most scarce and valuable asset in this world, time, is being constantly stolen from those who have to work hard to feed their family and pay bills. It is done via inflation and money printing, which is basically a legal way to counterfeit money. No matter how much time you spend working, all that you earn will surely be taken away from you. Rich and wealthy people, unlike the poor, have many ways to protect themselves from this robbery, but still, it doesn't solve the problem but rather delays the inevitable. Bitcoin allows both the poor and rich to make sure they will not lose what they earned offering what they have.

[sunsilk]

Bitcoin is truly for everybody. But the thing is that people that just knew bitcoin lately, they're looking at the price to be expensive and they can't bear with it because that's the first impression that they look at. They ignore the facts about its past and charts and that's where they're sticking.

For example, at 2017 -2018 if you are invested in btc then right now you can collect a huge amount to use like in education , in health, in your family or your future plan.

This is a bit off the comparison, there were many investors in those years that probably have sold a lot and didn't buy back because of the situation that has happened in 2018 which was very bearish. And instead of buying during that time, they thought that bitcoin was about to end.

[kryptqnick]

I liked the phrase I read in the most recent John Green's book about the world we live in because I think it's a very accurate description. He talks about how in Mario Kart the question boxes give bigger perks to those who are falling behind in the race and smaller ones to those doing alright, and then he continues:

In that respect, at least in my experience, real life in the precise opposite of Mario Kart. In real life, when you are ahead, you are given lots of power-ups to get further ahead.

That's how the world works, IMO, providing benefits to those who are already privileged, and that's why alternative things like diversity quotas appear to balance it out a bit. With Bitcoin, I think the same system holds, but not to the same extent. Let's say two people invested in Bitcoin when it cost $10k and sold at $40k. They both made a 4x profit, but the first person only had $300 to invest, and the second one invested $30k. So now the first person has $1200, which is not a huge improvement, even though it was a great financial decision, and the second person has $120k and can now afford way more stuff than prior to the investment. I'm not saying it's fair that prices and investments work like that because obviously this is just purely mathematical, but in the end it's still more beneficial to those who already have a lot. Not to mention oktana's Elon Musk point, which is also valid, even though price manipulations like that are temporary.

[jakdanyel]

Bitcoin is really awesome as it isn't only for the rich people. Every people can buy Bitcoin whatever amount they would like and this will never change also. And yeah, nothing or nobody can control Bitcoin and its price. However, some prominent people, big companies and big governments can cause the price to change with their FUDs.

[isaac_clarke22]

~

It's not only about the price, OP. It is also about the freedom that Bitcoin gives to people, well you know the decentralization. I never bothered to get myself a CR/DR cards.

I invested back in 2017, the same year I registered in here so that I would be able to read a lot about "what's more" about Bitcoin. Until now, I am still holding some of it to be honest. No point for me regretting the earlier price of Bitcoin.

[carrigan]

Yes, that's right, Bitcoin is not only an opportunity for rich people with large capital but also provides opportunities for those who can be said to be poor with small capital. How could this happen? The answer is simple because buying Bitcoin doesn't have to be a coin but can be in fractions, this is a very good thing considering the fantastic price. So for those of you who have small capital, don't be discouraged because your opportunities are also great. Moreover, the market cannot be controlled by anyone, rich or poor, so what you will see here is how you respond to a fluctuating market.

[Baofeng]

Today Morning, One Thing came in my mind. BTC is really an amazing concept not only for the rich people while the for poor also, because no one can control the price of btc. For example, at 2017 -2018 if you are invested in btc then right now you can collect a huge amount to use like in education , in health, in your family or your future plan.

It has no boundaries, but still the rich can control on how the game is it played, and they are called whales. They are individuals or institutions who own a lot of bitcoins. Of course, majority is still the retails investors and average joe investors just like you and me.

You don't have to look further, just look at what is the price last March 2020, when the world was grip about the news of a virus and a lockdown, the price of bitcoin and any other financial market goes down very hard. We even hit the price around $3k.

But we have bounce back already as we have reach $64k this year. So bitcoin is a form of invested, nevertheless it has a lot of ups and downs so it's not a guarantee that you can collect huge amount and use it in education or your family. There is still a big risk involved.

[BlackHatCoiner]

because no one can control the price of btc.

No one controls it, but rich people manipulate it. As time goes on, this will probably become harder to achieve, but it'll always be in the hands of individuals and not governments'. Michael Saylor is an example of an individual who owns 115,000 BTC. This is an incredible amount. Whether the market cap moves backwards or upwards, this man will always be able to somehow affect the final result.

I mean if it's for the rich people then how come not a lot of millionaires are on this market yet.

How do you know there aren't? I'm pretty sure that Bitcoin is in lots of millionaires' portfolio. They just choose to not tweet their wealth.

[Silberman]

Today Morning, One Thing came in my mind. BTC is really an amazing concept not only for the rich people while the for poor also, because no one can control the price of btc. For example, at 2017 -2018 if you are invested in btc then right now you can collect a huge amount to use like in education , in health, in your family or your future plan.

Not exactly, bitcoin is still subject to the laws of demand and supply and if anything due to its decentralized nature I would say that it is completely at its mercy, so if a whale that has a huge amount of coins wants to move the price in one direction or the other then they can do it, however bitcoin now has so much volume that it is going to be difficult for such whale to maintain the manipulation for long, especially if other whales do not like what they are doing and decide to engage in some manipulation as well on the opposite direction.

[Pom_bensin]

everyone has the right to own any amount of bitcoin. this may be the benefit of bitcoin and can help the economy of the lower class to be able to develop their economy through bitcoin. but the lower class must be careful because the rich or the pope still have a great opportunity to play the price.

[bL4nkcode]

And related to the bitcoin price, you do not need to afraid of the price volatility but that will be good for you because if you can buy at a low price and sell at a high price, you will get profit and that means, you can make money.

But unfortunately, sometimes it doesn't work like that. Many becomes more poorer because of bitcoin volatility where emotion get attached on every buy/sell order, especially when there's a fud, while on the other hand there are some become rich.

BTC is really an amazing concept not only for the rich people while the for poor also, because no one can control the price of btc.

Manipulation exists before bitcoin was created. But for bitcoin, rich (whales) always rules at first but the community/traders will always have the last move (either bad or good).

[Theones]

Today Morning, One Thing came in my mind. BTC is really an amazing concept not only for the rich people while the for poor also, because no one can control the price of btc. For example, at 2017 -2018 if you are invested in btc then right now you can collect a huge amount to use like in education , in health, in your family or your future plan.

That's just one advantage of BTC, there are many others also. According to World Bank report in 2017, around 1.7 billion people of the world are un-banked due to monopolies of centralized banking system for centuries. Bitcoin empowers people by giving authority of there money back in there hands. This concept was not there until we saw Bitcoin.

[V-t.Ester]

Do you really think so? Whales can control the price of btc. The huge amount of Bitcoins is concentrated in the hands of a small group of whales, who knows each other. They can even negotiate to collapse or raise the market. If they want to do it, of course. That is the way some of them earn money.

at 2017 -2018 if you are invested in btc then right now you can collect a huge amount to use like in education , in health, in your family or your future plan.

The same you can do now. You can invest in BTC in 2021 year, hodl and in 2024-2025 after the next halving you can collect a huge amount to use it for your needs.