Is Bitcoin for everyone?

[Pablo-wood]

I am asking this because not everyone has made tangible profit for holding. Just like myself I end up selling at a loss most times just to solve a problem. Some might be lucky to buy at a low rate and within few weeks or months the price just pumps to their favour. This kept me wondering if Bitcoin is actually for every one or it is a scheme for selected individuals..

[tjtonmoy]

If you are talking about trading Bitcoin and earning profit then Bitcoin it's not for everyone. Because trading is not for everyone. Also for Hodling. If you are unable to control your emotion in times of market fluctuation you can't make profit from your hodling. So it makes sense to say that Bitcoin is not for everyone. If you just wait for some weeks or months to profit from Bitcoin it will take a tremendous luck for that to happen. Bitcoin is a long-term investment asset. If you want the "best profit" you will need to hodl it for a longer period of time until it reaches its peak.

Now if we talk about "if Bitcoin is for everyone". Yes, anyone who has the knowledge about Bitcoin can use it, acquire it and accumulate it. Anyone can own Bitcoin. But the lack of knowledge and lack of understanding about technology and stuff is restricting people from doing so. Bitcoin is for everyone but not everyone can use it.

[Upgrade00]

I am asking this because not everyone has made tangible profit for holding. Just like myself I end up selling at a loss most times just to solve a problem.

You are investing money you cannot afford to lose that's why you sell at a loss. You should not be investing money you will need to solve a problem into Bitcoin.
This is not a Bitcoin issue but an investment topic. Anyone who starts off an investment wrongly risks selling at a loss or buying the wrong assets which never give any profit.

This kept me wondering if Bitcoin is actually for every one or it is a scheme for selected individuals..

You should be learning from your mistakes and fixing it in your investments going forward and not drawing up conspiracy theories.

[cabron]

I am asking this because not everyone has made tangible profit for holding. Just like myself I end up selling at a loss most times just to solve a problem. Some might be lucky to buy at a low rate and within few weeks or months the price just pumps to their favour. This kept me wondering if Bitcoin is actually for every one or it is a scheme for selected individuals..

This is why recommended to invest your extra money and not the ones that are intended for your next week. Of course, there are many of them who keep their coins for more than 1 cycle of the BTC bull market.

It is for everyone, even if you are poor with just $20 in your pocket you can have BTC worth $20 as long as you choose to hold though. But the majority will pick to use the $20 to buy now rather than thinking of how much it will be in the next bull run.

[NeuroticFish]

I am asking this because not everyone has made tangible profit for holding. Just like myself I end up selling at a loss most times just to solve a problem. Some might be lucky to buy at a low rate and within few weeks or months the price just pumps to their favour. This kept me wondering if Bitcoin is actually for every one or it is a scheme for selected individuals..

Bitcoin is a tool. A great one. But, like the case for most tools, one needs to understand how to use it for his own benefit.
And yes, this means that Bitcoin is not for everybody.
* some will lose it because he doesn't understand how to keep his coins safe
* some will lose money because they don't have the patience and missed the basics of investing
* some will be lured to various scams or meaningless ways to waste money and energy
and the list can continue.

Plus, with the time ticking and the price going higher every cycle, more and more (failing to understand the power of 8 digits after the decimal point) will think they've missed the train or that Bitcoin is not for them.
And this is sad, because all that Bitcoin needs is a little patience and willingness to learn (and I don't mean here the cold math behind it).

[aylabadia05]

21 million for everyone who wants to have it.
Bitcoin was created for everyone who wants to use it. The use of Bitcoin for investment brings profits because Bitcoin holders are patient with their investment strategy.
People who sold when the price pumped within a month and made a profit will regret selling while long-term Bitcoin holders who were unaffected by the instantaneous increase made bigger profits when Bitcoin reached a new ATH.

Traders or investors who bought Bitcoin in September, may have sold when Bitcoin reached $30K. Other investors out there still didn't sell when the price rose to $30K.
It all depends on the investment target.

[panganib999]

I wouldn't exactly say it IS for everyone, but out of all the cryptocurrencies there are in the market, Bitcoin has been the most consistent in providing people with profits. This has nothing to do with how much you're gaining by the way, but just over the fact that bitcoin has been very generous in giving people consistent yields over the years it's starting to look like bitcoin is for everyone. In any case, if I were to recommend investing in bitcoin to someone who's just learned about crypto a little while ago and is now eager to test the waters, bitcoin will be the safest recommendation, and I think everyone will back me up when I say it's because it's the safest option out there compared to let's say, ethereum, or maybe even XRP.

[Stalker22]

This kept me wondering if Bitcoin is actually for every one or it is a scheme for selected individuals..

It is not for everyone, only for smart people!  

Seriously, some folks get scared off if you tell them to invest in it, even if you lay out the risks honestly and  cant make people take chances with their money if they dont want to.  But heres the thing - you dont gotta be no financial expert or tech genius to get into Bitcoin.  Just dont be flat broke, neither.  Make sure you got enough cash on hand to cover all your basic needs for a while before you put your money into it.  Ideally, dont invest money youll need back in the next few months. Preferably years.  Its a long game. So, if you got some savings and understand theres some risk, it could pay off big time in the long run.

[Dunamisx]

I am asking this because not everyone has made tangible profit for holding. Just like myself I end up selling at a loss most times just to solve a problem.

Not everybody is doing the same thing that others are doing that makes them have a better results, have you considered about the way you did yours that makes your own different, maybe it's high time you start to learn about new things on how to be a successful bitcoiners.

Some might be lucky to buy at a low rate and within few weeks or months the price just pumps to their favour. This kept me wondering if Bitcoin is actually for every one or it is a scheme for selected individuals..

Bitcoin is for everyone, if you can invest and hodl for a more longer period, it may not work by your own personal timing because you're too eager or desperate to see bitcoin yielding profits, or maybe you're told you will get more than double of your investment within a short period of time, but if you can hold and learn through the process, it will yield beyond your expectations.

[Faisal2202]

I am asking this because not everyone has made tangible profit for holding. Just like myself I end up selling at a loss most times just to solve a problem. Some might be lucky to buy at a low rate and within few weeks or months the price just pumps to their favour. This kept me wondering if Bitcoin is actually for every one or it is a scheme for selected individuals..

Based on your question, I will say, BTC is not for everyone but I give a neutral reply, which means the one not based on anything, I will say, BTC is for everyone. In the first scenario, where BTC is not for everyone, you are the first and good example to be used. Like if a person is doing holding then he must know what holding is, and what practices should be made to be profitable while holding the BTC. And in your case, you think holding is all about keeping BTC in your wallet for like 1 or 2 months.

But nope. Holding means keeping your assets for more than 5 years, and if you think you will hold BTC for 2 months and will make a profit, then you are wrong, you can not make a profit out of holding in 2 months but you can make profit out of trading in 2 months. So generally speaking, you have to be knowledgeable before investing in BTC and once you think you are well educated then I can say, that BTC is for everyone but for those who are educated ones.

[Y3shot]

I am asking this because not everyone has made tangible profit for holding. Just like myself I end up selling at a loss most times just to solve a problem. Some might be lucky to buy at a low rate and within few weeks or months the price just pumps to their favour. This kept me wondering if Bitcoin is actually for every one or it is a scheme for selected individuals..

Bitcoin  is for everyone,  some buy and the price just goes up that is their luck because they never knew the price will go up fast. Bitcoin is for everyone and it is only those who truly understand it can get profit from it. Bitcoin price can not be predicted, for the price to increase it can be slow and it can be fast in increasing.  Whenever the price is slow to increase the only option is to just have patience to keep hodling your coin. Before you go into the market to invest in bitcoin, you have to make up your mind first to understand that bitcoin is a longterm and not an investment to make profit quick, with this mindset you will be able to stay firm even if it takes long for you to get profits.  But when your mind is already expecting profit so quick from your investment,  you will be so disappointed to keep hodling and you will end up selling at lose.

[Zaguru12]

This kept me wondering if Bitcoin is actually for every one or it is a scheme for selected individuals..

To be frank, to make profit with bitcoin is actually for selected people. These people are those that have the patience to hold and this people are those that invest with the Amount that they can afford to lose or an amount that they wouldn’t be needing for a short period of time. Another set of people that earn profit from bitcoin are those that trade and this needs knowledge and experience.

The other aspect of bitcoin that is for everyone is the treating it as an alternative to fiat currency and only use for daily buy and sell transactions of goods and commodities.

[hatshepsut93]

I am asking this because not everyone has made tangible profit for holding. Just like myself I end up selling at a loss most times just to solve a problem.

The main rule of investing is investing only what you can afford to lose. If you are breaking it by investing money that are a part of your safety net, then Bitcoin is not suitable for such investments due to its volatility. In this case you should be investing in assets that can only go up, like bank deposits that allow early withdrawal with a penalty.

[Z-tight]

I am asking this because not everyone has made tangible profit for holding. Just like myself I end up selling at a loss most times just to solve a problem. Some might be lucky to buy at a low rate and within few weeks or months the price just pumps to their favour. This kept me wondering if Bitcoin is actually for every one or it is a scheme for selected individuals..

When you spend the fiat in your savings account to solve one problem or the other, does it make you feel like fiat isn't for you, or when you liquidate some of your assets for whatever reason, do you feel like that asset wasn't for you. You had your keys, you decided to spend your coins and that's that. BTC is censorship resistant and permissionless, and so that means it is for everybody.

BTC is volatile and you can make some returns from its volatility, but nobody guarantees you that it will happen, you have to be ready to hold it for sometime or until the price rises, it is an easy thing to understand.

[SatoPrincess]

I am asking this because not everyone has made tangible profit for holding. Just like myself I end up selling at a loss most times just to solve a problem. Some might be lucky to buy at a low rate and within few weeks or months the price just pumps to their favour. This kept me wondering if Bitcoin is actually for every one or it is a scheme for selected individuals..

Yes you’re losing money because you’re treating bitcoin like a gamble. You can’t make profit from bitcoin in such short time, it makes sense if you’re referring to altcoins. Bitcoin trading requires in-depth knowledge and skill to be successful, this is why hodling is recommend as the best strategy for non trader and newbies alike. Even though hodling is less technical, you still have to DCA before making buying bitcoin.

[Victorik]

I am asking this because not everyone has made tangible profit for holding. Just like myself I end up selling at a loss most times just to solve a problem. Some might be lucky to buy at a low rate and within few weeks or months the price just pumps to their favour. This kept me wondering if Bitcoin is actually for every one or it is a scheme for selected individuals..

If you are talking about BTC, it is for everyone that are willing to learn and be patient. Sometimes we lose money when we panick sell, especially when we invest money meant for other things.

[cryptomaniac_xxx]

I am asking this because not everyone has made tangible profit for holding. Just like myself I end up selling at a loss most times just to solve a problem. Some might be lucky to buy at a low rate and within few weeks or months the price just pumps to their favour. This kept me wondering if Bitcoin is actually for every one or it is a scheme for selected individuals..

It depends on how you look at bitcoin, if you see it as payment scheme, then yeah it could be for everyone. But as we have seen already, it has evolved so much that it is being considered as a asset because it's being traded in an exchange. And with that it could be like stocks, and not everyone is into stock tradings or any form of investments simply because they don't like it.

Plus we've heard "BYOB", Be your own Bank, and maybe there are people that is not technically inclined, because there is a learning curved when you start your Bitcoin journey. You need to learn how wallet works, and then later should know how to practice security hygiene. And that is the most difficult part for the majority and that could be the reason why some of us are being hack or losing our precious bitcoin because we don't know how to protect it.

But in the OP's case, it seems that he is still learning Bitcoin or at least learn how to make money out of it. Maybe his approach is just to make short term money, and that is hard to do unless you are have a experienced in training. And then the saying that you should invest what you can afford to lose. Perhaps the OP's money is not for investing as he wants to sell it short term. The better approach for Bitcoin investing is really long term, or at least one Bitcoin cycle to test and see how it will fit for you.

[kingvirtus09]

I am asking this because not everyone has made tangible profit for holding. Just like myself I end up selling at a loss most times just to solve a problem. Some might be lucky to buy at a low rate and within few weeks or months the price just pumps to their favour. This kept me wondering if Bitcoin is actually for every one or it is a scheme for selected individuals..

Bitcoin is only for people who believe in it. And if you believe this, you should also know what you should do to have it. Now, the question is: what are the requirements for you to have Bitcoin? Of course, the main way is to trade here or hold it long-term.

We know that trading is not easy to understand; it is not just buy and sell, literally, and then you will earn Bitcoin immediately; it is not like that. You need to know how to read a trading chart or graph, even with the tools that are used here, so that we can predict the possible direction it will go, whether it is up or down, but of course you must learn the basics first. And it's not a night that, the next day, you immediately know and understand; there is no such thing, of course.

[I_Anime]

I can relate though. But I think everything just timing. And disciplines, I know is really discouraging when you're trying to hold bitcoin but it just keep falling and you're losing. This will lead to you selling it in loss to cut loss. One of the main thing that cause this is FOMO (Fear of missing Out) so most of us don't want to miss out, which will lead us in buying the wrong time. So Bitcoin are for those who are ready to learn and be patient because no matter volatile the market is. Bitcoin will always rise, Though sometime market might not be going your way. and you may end up losing more mostly when you cut loss at the wrong time, Like when BTC dropped   around the range of 20k$ to 15k$ many holders falls as victim in cutting loss at the wrong time but some choose to wait. but now bitcoin  as risen to the range 33k$. so this prove that bitcoin can move in both ways, but any way its moved someone is at there still profiting from it, so its varies.

[Bananington]

Bitcoin is not for everyone to invest in and make profit, but bitcoin is for everyone to use as currency for payment of goods and services. Some people lack the ability to hold bitcoin for investment and make profit from it, and no matter how much people are advised how to invest in bitcoins and make profit, they will always make mistakes, respond to emotions and pressure and will not find making profit from bitcoins easy. So truly, bitcoin is not for everyone to invest and make profit, not for everyone to trade, not for everyone to mine, but can be for everyone to use as currency.