Is Bitcoin just for the rich?

[beveryu778]

Someone said that Bitcoin is for the rich, but that's not completely true. It might feel like Bitcoin is for the rich due to the media focuses on celebrities and billionaires buying and benefiting from Bitcoin. This creates a perception that Bitcoin is a rich person's asset. Even during network congestion, fees can spike making small transactions very expensive. But let's not forget that Bitcoin is neutral, it can empower the rich or help lift the poor, it actually depends on how communities adopt it. So understand that Bitcoin is for everyone, you can buy tiny fractions, not until you afford a whole Bitcoin.

Bitcoin is for everyone because even though the price of Bitcoin is very high, you can buy any amount of Bitcoin according to your ability. There is no obligation to buy the entire 1 Bitcoin. So this does not prove that Bitcoin is only for the rich. If you want, you can invest $ 1 in Bitcoin and you have the ability to do so, then is Bitcoin not for you? Bitcoin is for everyone, but investing in Bitcoin or holding it requires patience and faith in Bitcoin.

[danadc]

Someone said that Bitcoin is for the rich, but that's not completely true. It might feel like Bitcoin is for the rich due to the media focuses on celebrities and billionaires buying and benefiting from Bitcoin. This creates a perception that Bitcoin is a rich person's asset. Even during network congestion, fees can spike making small transactions very expensive. But let's not forget that Bitcoin is neutral, it can empower the rich or help lift the poor, it actually depends on how communities adopt it. So understand that Bitcoin is for everyone, you can buy tiny fractions, not until you afford a whole Bitcoin.

Bitcoin is not for only rich, Bitcoin is for both rich and poor individuals who are capable to buy it, as long as you have the funds to buy you can buy Bitcoin, the reason why some individuals think Bitcoin is for the rich is because they don’t understand it, some individuals might think that you have to have to have a huge amount of money before they can be able to buy, and the price is also one of the reasons why they thought they can’t buy, Bitcoin is going to remain for both rich and poor unless those who doesn’t understand it or they want to talk negative about it to make some people lose interest in it. There is a way to buy Bitcoin as long as you are capable of buying and holding for the long term without thinking of selling or having eyes on it when the price rises.

There is no tangible reason why Bitcoin will be seen as only for rich people, because when there is fund no one can stop you from buying Bitcoin except there is a doubt about Bitcoin that is stopping them from buying it.

Bitcoin is better described as the currency of a new generation, since most older people are more conservative and do not trust something new, especially a digital product that cannot be physically held. Moreover, for many, it is difficult to understand the specifics of buying and using a digital currency like bitcoin.

It is good to describe it as a store of value for the new generation but we should remember that no one should be left out. If you can convince the elderly it can be impressive for their overall financial transformation. I believe there are a large number of older investors who are very interested in Bitcoin but they should have been told about the correct and realistic picture and its potential future growth. Long term Bitcoin accumulation strategy is for conservatives.

I support this motion because I am someone who saves in bitcoin and I don't like the current fiat system, as it is not sustainable, It is a lie that the dollar, the euro, or any other stable currency in the world is backed by gold; that is a fallacy, Bitcoin, on the other hand, represents everything that the current system cannot sustain.

[Platinumys]

This is a misconception, Bitcoin is not just for the rich, Bitcoin is for everyone. We need to get out of the previous idea, earlier we thought that only those who have a lot of money can buy Bitcoin, but if we know about the DCA investment method, then we must have a clear idea about this that all professional people or people of all income can buy Bitcoin. Basically, in the DCA investment method, an investor does not have to raise a lot of money to buy Bitcoin, but when the investor has the amount of money, an investor can continue his investment with that amount. For example, a person has only $10 saved at the end of each month, but he can invest that $10 continuously every month. Maybe in the initial stage, $10 may seem very small to invest, but if he can invest $10 continuously every month for three or four years, then at the end of a certain period of time, the amount of investment of that investor will be much higher, and profit will also be added to the capital of that investor. Considering this aspect, I would say that Bitcoin is not only for the rich.

[summonerrk]

The vast majority of my friends, who don’t understand cryptocurrencies at all, fall for the same misconception that the auto topic describes.
They hear from the News that Bitcoin has become very expensive, in fact, as expensive as several apartments in my country, and at the same time they regret that they bought it earlier.
But the funny thing is that they absolutely do not understand that Bitcoin is very easily divided into any shares down to one satoshi.

[Ever-young]

If the least amount of BTC one could buy is 1 whole Bitcoin then the narrative of Bitcoin is for the rich would be true!
Besides when Bitcoin was worth a few pennies, imagine people that bought coins for a bare minimum of $50 or $10 all because they weren't Rich 🤑, today they are cashing out millions because it's worth a fortune, so this mindset of BTC is for the rich is just a Brain washed person with wishful thinking... besides, anybody that wanted Bitcoin today can easily buy some for whatever amount they needed without any hustle .

Btw the so called Rich believe Bitcoin is a pyramid scheme and don't invest in it 

And this here is the exact reason why some people (besides having the readiness and willingness to invest in Bitcoin) still hold back from investing in Bitcoin. Some use it as an excuse to why they haven't gotten started, and then this doesn't only affect them but also those around them who might also be interested in getting started in Bitcoin investment.

Everyone has their various financial situation and goals and each one could potentially fit in when investing, regardless of their financial status, everyone can own Bitcoin, it's not necessary that they have to own 1 whole Bitcoin, just a few sats acquired today could turn to a fortune tomorrow, so there's really no excuse to why anyone can't get started with Bitcoin investment, except that they haven't got discretionary income.

[EarnOnVictor]

The vast majority of my friends, who don’t understand cryptocurrencies at all, fall for the same misconception that the auto topic describes.
They hear from the News that Bitcoin has become very expensive, in fact, as expensive as several apartments in my country, and at the same time they regret that they bought it earlier.
But the funny thing is that they absolutely do not understand that Bitcoin is very easily divided into any shares down to one satoshi.

I actively engage in Bitcoin, I buy it both short-term and long-term, but with a different plan. As retail investors, we should be smart in investing in Bitcoin and not think like those who bought Bitcoin when it was super cheap, for instance, at $200 or even lower. They are the most insured Bitcoin investors, not the ones who are buying at above $100,000 or thereabouts, any little price appreciation means wealth for them.

It might be easy to say one person can own 1 sat in the future, but do you think it's in the near future? Have you also considered the market cap at that time? It's insane. This could take a millennium, my brother, which is why we need to be smart in investing at this price. With the current price, I buy tangible dips and liquidate when it has hit a peak that has created resistance over time.

I further plan to buy a large amount when it sells significantly, like it did around 2022. That is what I will leave for over 2 years before liquidating it. With this, I am staying active with Bitcoin purchases, but maximising my investment portfolio and will make more than those who just buy and leave it for years. The latter is good, but because the price is high, the profits can't be as much as my plan.

[Ojinga]

Someone said that Bitcoin is for the rich, but that's not completely true. It might feel like Bitcoin is for the rich due to the media focuses on celebrities and billionaires buying and benefiting from Bitcoin. This creates a perception that Bitcoin is a rich person's asset. Even during network congestion, fees can spike making small transactions very expensive. But let's not forget that Bitcoin is neutral, it can empower the rich or help lift the poor, it actually depends on how communities adopt it. So understand that Bitcoin is for everyone, you can buy tiny fractions, not until you afford a whole Bitcoin.

Bitcoin is for everyone one regardless of  their financial status and class.
No one and I mean no one is actually restricted from owning bitcoin and yes it will be more understandable to say that, maybe the poor might not have enough resources to buy and hold at the moment but that does not mean that, bitcoin is meant for just the rich.
There are people who might not have enough money to buy it in larger quantities but trust me, you can as well buy in smaller quantities and with the help of the DCA method, everyone should be able to buy bitcoin conveniently at their own time and peace without having to bother about the current market conditions and what I have written so far, I stand on the point that, bitcoin is absolutely for everyone who wishes to own it.

[WatChe]

I would say Bitcoin is not for rich nor for poor rather it's for intelligent people who know the worth of investing in Bitcoin. Recently Galaxy Digital sold 80k Bitcoin for Satoshi era investor, the selling price of these 80k Bitcoins is around 9 billion USD. Whats most interesting is that purchase price of each Bitcoin is less then 100$ as they are purchased back in Satoshi era. One don't need to be rich to invest in Bitcoin rather he need to know the real worth of Hodling Bitcoin for long term.     


https://www.tradingview.com/news/newsbtc:de831f846094b:0-dormant-whale-sells-80-000-btc-but-bitcoin-bulls-still-in-control/

[DiMarxist]

Someone said that Bitcoin is for the rich, but that's not completely true. It might feel like Bitcoin is for the rich due to the media focuses on celebrities and billionaires buying and benefiting from Bitcoin. This creates a perception that Bitcoin is a rich person's asset. Even during network congestion, fees can spike making small transactions very expensive. But let's not forget that Bitcoin is neutral, it can empower the rich or help lift the poor, it actually depends on how communities adopt it. So understand that Bitcoin is for everyone, you can buy tiny fractions, not until you afford a whole Bitcoin.

People Saying that because of the way the two groups of people involved in the investment of bitcoin. Rich people can invest big amount at a time while the poor either they invest with a very little amount or they don't have anything to invest. But in normal sense, bitcoin is for everyone. One thing to know is the mindset and the knowledge on the coin. You can be rich and if you don't have the mindset to invest, you can't and if you are poor but you have the mindset to invest and you have small money you can still invest.
So bitcoin is for everyone and not only for the rich or the poor. You knowledge on it and the determination to invest is the main thing.

[Frankolala]

I would say Bitcoin is not for rich nor for poor rather it's for intelligent people who know the worth of investing in Bitcoin. Recently Galaxy Digital sold 80k Bitcoin for Satoshi era investor, the selling price of these 80k Bitcoins is around 9 billion USD. Whats most interesting is that purchase price of each Bitcoin is less then 100$ as they are purchased back in Satoshi era. One don't need to be rich to invest in Bitcoin rather he need to know the real worth of Hodling Bitcoin for long term.     


https://www.tradingview.com/news/newsbtc:de831f846094b:0-dormant-whale-sells-80-000-btc-but-bitcoin-bulls-still-in-control/

I agree with you. When you know the potential of bitcoin, you will understand that it will increase in value overtime and rush into investing. A poor man can see the potential in bitcoin and appreciate it because he wants to leave his poverty state. He sees bitcoin as a good opportunity to upgrade his financial strength in future but a rich man can ignore the potential of bitcoin because he believes that he has it all. Bitcoin is for all.

[beveryu778]

I would say Bitcoin is not for rich nor for poor rather it's for intelligent people who know the worth of investing in Bitcoin. Recently Galaxy Digital sold 80k Bitcoin for Satoshi era investor, the selling price of these 80k Bitcoins is around 9 billion USD. Whats most interesting is that purchase price of each Bitcoin is less then 100$ as they are purchased back in Satoshi era. One don't need to be rich to invest in Bitcoin rather he need to know the real worth of Hodling Bitcoin for long term.     


https://www.tradingview.com/news/newsbtc:de831f846094b:0-dormant-whale-sells-80-000-btc-but-bitcoin-bulls-still-in-control/

I agree with you. When you know the potential of bitcoin, you will understand that it will increase in value overtime and rush into investing. A poor man can see the potential in bitcoin and appreciate it because he wants to leave his poverty state. He sees bitcoin as a good opportunity to upgrade his financial strength in future but a rich man can ignore the potential of bitcoin because he believes that he has it all. Bitcoin is for all.

I agree with you, Bitcoin is an opportunity for the poor because any amount of Bitcoin can be invested, so anyone can invest any amount according to their ability. Even if the financial condition of the poor is weak, if they invest according to their ability, they will get profit accordingly and this can improve their financial condition to a great extent. It is not possible for poor people to invest in any property or any valuable asset and in the physical world no one gets a good profit with a small investment but in the case of Bitcoin, the matter is different.

[Abiky]

The vast majority of my friends, who don’t understand cryptocurrencies at all, fall for the same misconception that the auto topic describes.
They hear from the News that Bitcoin has become very expensive, in fact, as expensive as several apartments in my country, and at the same time they regret that they bought it earlier.
But the funny thing is that they absolutely do not understand that Bitcoin is very easily divided into any shares down to one satoshi.

That's precisely why most people choose altcoins on top of Bitcoin. We're reaching a point where only the rich will get involved in Bitcoin. Although, we know anyone can get into BTC by buying fractions of it. I'd say, it's not easy to picture a Bitcoin divisible up to 8 units than it's the case with Fiat currencies (which are divisible up to 2 units). The latter is much easier to get ahold of. Try explaining someone new into Bitcoin about the concept of satoshis, and you'll have a hard time doing so.

At least, Bitcoin is working as intended. Maybe someday the masses will understand how BTC truly works and use it for their own benefit. With good education, anything's possible.

[Donneski]

I would say Bitcoin is not for rich nor for poor rather it's for intelligent people who know the worth of investing in Bitcoin. Recently Galaxy Digital sold 80k Bitcoin for Satoshi era investor, the selling price of these 80k Bitcoins is around 9 billion USD. Whats most interesting is that purchase price of each Bitcoin is less then 100$ as they are purchased back in Satoshi era. One don't need to be rich to invest in Bitcoin rather he need to know the real worth of Hodling Bitcoin for long term.     


https://www.tradingview.com/news/newsbtc:de831f846094b:0-dormant-whale-sells-80-000-btc-but-bitcoin-bulls-still-in-control/

I agree with you. When you know the potential of bitcoin, you will understand that it will increase in value overtime and rush into investing. A poor man can see the potential in bitcoin and appreciate it because he wants to leave his poverty state. He sees bitcoin as a good opportunity to upgrade his financial strength in future but a rich man can ignore the potential of bitcoin because he believes that he has it all. Bitcoin is for all.

Bitcoin is indeed for the intelligent people regardless of their financial status. From when Bitcoin was launched till date, it's always been a coin for the informed because it's only when you know about Bitcoin that you can make necessary moves to own it. As at when Bitcoin came to existence, people were owning it for simply solving captchas so people had Bitcoin then without money. Now, it's worth is above $110,000 but people can still own it in satoshis with just $100 and as the value keeps rising, the rich that didn't invest in it today will one day regret while the poor that's buying in satoshis will be very happy when the value significantly pumps in the future.

[Iranus]

I agree with you, Bitcoin is an opportunity for the poor because any amount of Bitcoin can be invested, so anyone can invest any amount according to their ability. Even if the financial condition of the poor is weak, if they invest according to their ability, they will get profit accordingly and this can improve their financial condition to a great extent. It is not possible for poor people to invest in any property or any valuable asset and in the physical world no one gets a good profit with a small investment but in the case of Bitcoin, the matter is different.

Investing in stocks also does not require a minimum capital, you can also participate in the stock market with just $10, $20 or even just $5. Likewise, poor people will have a little difficulty in accumulating gold but they can still invest in gold if they can accumulate $100 or more. They don't necessarily need to have $100k or $1 million or more to start investing in stocks and gold.

It can be said that there are many investments that the poor can access, not just Bitcoin. But the thing is bitcoin has more potential as it can give better returns. So if someone is not rich yet but wants to get out of poverty and wants to invest, bitcoin should be the priority choice instead of other investments.

[LDL]

The vast majority of my friends, who don’t understand cryptocurrencies at all, fall for the same misconception that the auto topic describes.
They hear from the News that Bitcoin has become very expensive, in fact, as expensive as several apartments in my country, and at the same time they regret that they bought it earlier.
But the funny thing is that they absolutely do not understand that Bitcoin is very easily divided into any shares down to one satoshi.

That's why people think Bitcoin is out of their reach and they will never be able to buy it. But they fail to understand that they don't have to buy a single Bitcoin to be able to buy Bitcoin in any digit. Those who can afford $100 worth of Bitcoin will buy it, and those who can afford $1,000 will buy it. Bitcoin can be bought in any amount, be it less or more. A rich person who has more afford will buy Bitcoin in higher digits, and a poor person who has less afford will buy Bitcoin in lower digits. The idea that Bitcoin is only for the rich is completely wrong and we need to understand that it is completely decentralized and everyone will buy according to what they can afford.

[Bd officer]

The vast majority of my friends, who don’t understand cryptocurrencies at all, fall for the same misconception that the auto topic describes.
They hear from the News that Bitcoin has become very expensive, in fact, as expensive as several apartments in my country, and at the same time they regret that they bought it earlier.
But the funny thing is that they absolutely do not understand that Bitcoin is very easily divided into any shares down to one satoshi.

I think your friends think that the price of Bitcoin has reached the highest price and will not increase in the future, that's why your friends may consider Bitcoin expensive. Now I see no reason to think Bitcoin is too expensive, because we don't have to buy 1 Bitcoin, you can buy Bitcoin according to your ability. Now the price of Bitcoin has not reached the highest level, rather the price of Bitcoin will gradually increase in the future. If your friends find Bitcoin expensive and don't invest, they will regret it in the future. The longer you delay investing in Bitcoin, the more you fall behind, as we've seen in the past. So your friend should understand that Bitcoin is not expensive and Bitcoin is not only for the rich, Bitcoin is for everyone.

[free-bit.co.in]

The vast majority of my friends, who don’t understand cryptocurrencies at all, fall for the same misconception that the auto topic describes.
They hear from the News that Bitcoin has become very expensive, in fact, as expensive as several apartments in my country, and at the same time they regret that they bought it earlier.
But the funny thing is that they absolutely do not understand that Bitcoin is very easily divided into any shares down to one satoshi.

I think your friends think that the price of Bitcoin has reached the highest price and will not increase in the future, that's why your friends may consider Bitcoin expensive. Now I see no reason to think Bitcoin is too expensive, because we don't have to buy 1 Bitcoin, you can buy Bitcoin according to your ability. Now the price of Bitcoin has not reached the highest level, rather the price of Bitcoin will gradually increase in the future. If your friends find Bitcoin expensive and don't invest, they will regret it in the future. The longer you delay investing in Bitcoin, the more you fall behind, as we've seen in the past. So your friend should understand that Bitcoin is not expensive and Bitcoin is not only for the rich, Bitcoin is for everyone.

When it comes to investing, the only and most important thing that people care about is the return they can get. Like us, the reason we rejected stocks, gold and chose bitcoin. It's not that we can't invest fractionally with stocks, but we're interested in big returns from bitcoin. Likewise, the main reason people say bitcoin is too expensive is because they think there is no more opportunity to make big profits from bitcoin.

But they may regret it in the future because even though bitcoin may not grow as fast as before, the upside potential of bitcoin is still huge. Bitcoin still has the potential to yield better returns than other investments. This is what they don't understand.

[laspol65]

But let's not forget that Bitcoin is neutral, it can empower the rich or help lift the poor, it actually depends on how communities adopt it. So understand that Bitcoin is for everyone, you can buy tiny fractions, not until you afford a whole Bitcoin.

If a very poor person has the willpower and the ability to take risks, then he certainly has the ability to invest in Bitcoin. For this, every person can participate in Bitcoin investment, the use of the DCA method is inevitable, because only the DCA method of investment can strengthen even a weak person to invest in Bitcoin. Keep collecting Bitcoin weekly until one Bitcoin is deposited, the more money he has, the more Bitcoin he can deposit.
That is why there is nothing to be angry about when rich people invest more Bitcoin, you can also participate in Bitcoin investment, the more you collect, the more future is guaranteed for you. That is why every person should give importance to Bitcoin investment because to ensure the future, Bitcoin will support you the most economically.

[SilentEcho]

Bitcoin is technically for both the rich and the poor. While you can buy small fractions of it, such tiny amounts cannot usually be used to purchase bigger things. In practice, cash is still required for such transactions. Therefore, it’s not entirely accurate to say that Bitcoin equally serves both the rich and the poor.

[Umulala-alala]

If not carefully told you may accept that bitcoin is too costly and can only be bought by the rich family or the rich.
The poor also buy bitcoin the low income earners also buy bitcoin one doesn't need to be very rich before they can buy bitcoin.
If you have know what your discretionary income is you can start buying gradually from it in as much you will be holding your bitcoin for long, if you keep buying regularly for years you can buy can buy more than enough bitcoin to your portfolio.