How do the poor catch up with the challenge

[CamilaStar]

I made a post once titled "is Bitcoin just for the rich? " , I got a lot of reply and the majority said Bitcoin is also for the poor, thats not a really wrong answer, but how many poor folks have made the kind of wealth like the top investors with alot of resources.
I made some more research and I discovered more. I discovered that the rich have a high advantage when it comes to Bitcoin, we should know that Bitcoins high volatility and complex market dynamics often favor those with more resources, this rich folks got what it takes, they have the experience and Market knowledge to do as the wish without breaking a sweat or being scared because they have the funds and can afford to hold through market fluctuations. This guys can make big investments in market analysis, tools and expertise, tell me how will the poor catch up, how will the poor get to such height, how can they afford to overcome fear when there is little experience. It is very challenging for the poor investors to succeed in the Bitcoin market, potentially whitening the wealth gap.

[Satofan44]

This guys can make big investments in market analysis, tools and expertise, tell me how will the poor catch up, how will the poor get to such height, how can they afford to overcome fear when there is little experience. It is very challenging for the poor investors to succeed in the Bitcoin market, potentially whitening the wealth gap.

Why should they? Your topic has a very bad assumption laid in it, that poor people should get something. This is a world of work and merit. Why should poor people who do not learn and do not do quality work that relates to markets reap the rewards from the markets? The world is how it is. If you have more money, you can make a lot more and a lot faster than someone who does not have a lot of money. Nothing will change this.

Bitcoin is a tool, a neutral currency, a commodity, an asset. If you approach it properly, it can do wonders for you. However, you must do the effort. It will not magically do something for you.
Equal outcomes is a Marxist communist idea that only the most stupid and the least productive people of our society support. Nobody is entitled to anything. Instead of scrolling on their phones and playing stupid mobile games, poor people should get to work if they want to uplift themselves. All aid and handouts should be abolished.

[Rockstarguy]

tell me how will the poor catch up, how will the poor get to such height, how can they afford to overcome fear when there is little experience. It is very challenging for the poor investors to succeed in the Bitcoin market, potentially whitening the wealth gap.

I think you are misunderstanding everything. Yes, of course, the rich have the advantage of investing large amounts in Bitcoin because they are in a good position to do so. The poor can also invest in Bitcoin; they may not have a large amount to invest at once, but they can still accumulate Bitcoin over time, and as this continues, it will add up to a good amount. The poor can invest in Bitcoin in their own way; it doesn't have to be the same amount that the rich invest. You also need to understand that in every investment, the rich always have a better opportunity to invest more. However, the poor can still achieve better results in Bitcoin investment.

[un_rank]

There is no investment that can change the financial situation of a person except they have money to put in. You do not have to be wealthy to invest, if you have a plan and steady income, you can build your portfolio using DCA. Do not expect this to be a get rich quick scheme, it will take years but with discipline, you can build an effective retirement plan.

I made a post once titled "is Bitcoin just for the rich? " , I got a lot of reply and the majority said Bitcoin is also for the poor, thats not a really wrong answer, but how many poor folks have made the kind of wealth like the top investors with alot of resources.

There were a lot of early adopters who did not put any money in, but mined bitcoin on their pc and made wealth from it.

- Jay -

[Despairo]

You're correct, it's true.

Now you have two options: fight for it or keep whining, complaining and blaming other person/entity. Most people don't care which choice you pick including myself, if you choose the second choice, I'm grateful because that means I will have less competitor because you're already give up.

My purpose is to get better everyday, not become rich overnight.

[QuasarColumba]

....tell me how will the poor catch up, how will the poor get to such height, how can they afford to overcome fear when there is little experience. It is very challenging for the poor investors to succeed in the Bitcoin market, potentially whitening the wealth gap.

You keep seeing it from the current debt-based system. Prices will keep falling against Bitcoin so even if you're late to adopt, you will get richer every year. You don’t need to out-trade the rich. You just need to opt out of a broken system and hold something that can’t be manipulated.

[aoluain]

This guys can make big investments in market analysis, tools and expertise, tell me how will the poor catch up, how will the poor get to such height, how can they afford to overcome fear when there is little experience. It is very challenging for the poor investors to succeed in the Bitcoin market, potentially whitening the wealth gap.

Why should they? Your topic has a very bad assumption laid in it, that poor people should get something.  

Actually, I am not reading it that way, the OP is not saying that the poor people should get something,
but making the point that the poor in general will remain poor while the rich get richer and that its
difficult/impossible for the poor to bridge the gap.


@CamilaStar  think of the saying "Money makes money" - its just the way it is, rich people have the
advantage of having the wealth to invest and make gains.

Its also worth remembering that when Bitcoin rises everyone gains, a 5% increase makes a lot of
profit for a wealthy investor but not so much for the poorer one.

5% of $1,000,000 is quite a lot - $50,000

5% of $100 is not a lot - $5


All I can say is that everyone has to look after their own situation and not compare it to others.
If a poor person only has $100 to invest I'm sure a $5 gain is quite welcome.

Its al relative

[Shadiq]

Bitcoin is open to everyone, so if someone fails to enter Bitcoin, it is not Bitcoin's fault. The rich certainly have an investment advantage and they should have it. Why are you trying to put the rich and the poor on the same page when it comes to Bitcoin investment?
Having more money means you have more investment capacity, having less money means you have less investment capacity. This is not only the case of Bitcoin, but in everything.

You have to understand, making money with money is easy, but making money without money is challenging. The world is like this, you either have to make money with money or by working hard. So instead of looking at the rich, plan your investment with what you have and get the results you deserve after working hard.

[EL MOHA]

Actually, I am not reading it that way, the OP is not saying that the poor people should get something,
but making the point that the poor in general will remain poor while the rich get richer and that its
difficult/impossible for the poor to bridge the gap.

The OP is actually making it look like bitcoin should be bridging the gap between the rich and the poor which in other respects bitcoin has done because we all regardless of status gets the same benefits with bitcoin without any censorship and the fact that there is no power bestowed on any class, for example it is not like POS coins where rich stakeholders actually get huge return in favour, here if the market actually goes up 2x everyone gets 2x price increase and nothing more to beat that.

What OP is actually asking of is bitcoin leaning towards the poor more than the rich is that fair? I honestly do not actually see why bitcoin should be discussed in this regard because if you treat it as an investment it is clear that everyone that has the money can invest into it and possible get return of his investment, this means that he who higher amount gets more reward if he turns out well and he also bears more risk if the investment takes a different turn. This is how investment works and nothing that bitcoin can do.

The only people who had got advantage over anyone in this bitcoin space is the people who had early believe in bitcoin and that’s also a reward for taking the bigger risky when everyone was running away

[mak013]

I made a post once titled "is Bitcoin just for the rich? " , I got a lot of reply and the majority said Bitcoin is also for the poor, thats not a really wrong answer, but how many poor folks have made the kind of wealth like the top investors with alot of resources.
I made some more research and I discovered more. I discovered that the rich have a high advantage when it comes to Bitcoin, we should know that Bitcoins high volatility and complex market dynamics often favor those with more resources, this rich folks got what it takes, they have the experience and Market knowledge to do as the wish without breaking a sweat or being scared because they have the funds and can afford to hold through market fluctuations. This guys can make big investments in market analysis, tools and expertise, tell me how will the poor catch up, how will the poor get to such height, how can they afford to overcome fear when there is little experience. It is very challenging for the poor investors to succeed in the Bitcoin market, potentially whitening the wealth gap.

Congratulations, you become an adult. Soon you will know that life is unfair, rich people have more opportunities and some other interesting but disappointing facts.
Rich people always become richer faster than poor people. The only way to poor people to win such competition is to buy first. The only problem - you can become bankrupt faster than rich people.  But if we are talking about BTC - all of us could buy it on the beginning, all of us could hold it. How much of us did it that time? But all of us say "It would be good to buy BTC in 2010".

[leonair]

I made a post once titled "is Bitcoin just for the rich? " , I got a lot of reply and the majority said Bitcoin is also for the poor, thats not a really wrong answer, but how many poor folks have made the kind of wealth like the top investors with alot of resources.
I made some more research and I discovered more. I discovered that the rich have a high advantage when it comes to Bitcoin, we should know that Bitcoins high volatility and complex market dynamics often favor those with more resources, this rich folks got what it takes, they have the experience and Market knowledge to do as the wish without breaking a sweat or being scared because they have the funds and can afford to hold through market fluctuations. This guys can make big investments in market analysis, tools and expertise, tell me how will the poor catch up, how will the poor get to such height, how can they afford to overcome fear when there is little experience. It is very challenging for the poor investors to succeed in the Bitcoin market, potentially whitening the wealth gap.

There is no need to do any kind of market analysis to invest in Bitcoin if it is for holding purpose. Because if you keep Bitcoin for a few years, you can get guaranteed profit from it. The poor can invest small amounts according to their income and their investment ability by following DCA with a long-term plan, then it will work as savings along with their investment which will give them a good financial support after a few years. So of course the poor can take this advantage

[Hatchy]

It is very challenging for the poor investors to succeed in the Bitcoin market, potentially whitening the wealth gap.

Do we really need a lot of formalities before we get our hands on bitcoin? It wasn't designed to serve a particular set of personality. Bitcoin for the people. it's like democracy, where everyone is equal before the law. What separate the rich from the poor is simply their mindset. The poor might consider anything that takes time to yield good returns a waste of their time. the rich would consider it even before they invest as a long term goal.

We don't need any expensive tool to buy, store or even analyse the market. Everything about bitcoin is open source. It's free to all. We dont have to pay for wallets or pay to access the Blockchain. So how is it only favouring the rich? The poor only need to put all things aside and take that bold step.

[aoluain]

Actually, I am not reading it that way, the OP is not saying that the poor people should get something,
but making the point that the poor in general will remain poor while the rich get richer and that its
difficult/impossible for the poor to bridge the gap.

The OP is actually making it look like bitcoin should be bridging the gap between the rich and the poor which in other respects bitcoin has done because we all regardless of status gets the same benefits with bitcoin without any censorship and the fact that there is no power bestowed on any class, for example it is not like POS coins where rich stakeholders actually get huge return in favour, here if the market actually goes up 2x everyone gets 2x price increase and nothing more to beat that.

What OP is actually asking of is bitcoin leaning towards the poor more than the rich is that fair? I honestly do not actually see why bitcoin should be discussed in this regard because if you treat it as an investment it is clear that everyone that has the money can invest into it and possible get return of his investment, this means that he who higher amount gets more reward if he turns out well and he also bears more risk if the investment takes a different turn. This is how investment works and nothing that bitcoin can do.

The only people who had got advantage over anyone in this bitcoin space is the people who had early believe in bitcoin and that’s also a reward for taking the bigger risky when everyone was running away

I'm not reading it that way either. Where exactly does the OP say Bitcoin should be
bridging the gap between rich and poor? It might be just me but I cant see that.

The point of the OP is that the rich will always have an advantage over the
poor in Bitcoin but its the case with everything.

[BitHodlers]

I'm not reading it that way either. Where exactly does the OP say Bitcoin should be
bridging the gap between rich and poor? It might be just me but I cant see that.

The point of the OP is that the rich will always have an advantage over the
poor in Bitcoin but its the case with everything.

I think it is implied contextually because the previous topic and this one are about Bitcoin.

tell me how will the poor catch up, how will the poor get to such height, how can they afford to overcome fear when there is little experience. It is very challenging for the poor investors to succeed in the Bitcoin market, potentially whitening the wealth gap.

Here you can see that the user is asking these questions and then he is specifically mentioning Bitcoin. He wants Bitcoin to somehow save the poor, or well alternatively the poor to use Bitcoin to save themselves.

[bhadz]

Look at the early days of Bitcoin when people can still mine it through computer shops and a poor guy who's paying $0.1-$0.2 per hour to rent a computer can do that. Being poor, doesn't mean that they don't have the capacity and resources. I think that you're dragging literally of how poor a person is and there is no way for them to go up and have a better living with Bitcoin. So, imagine a poor guy that has rented a computer before and worked for some campaigns and forgot those Bitcoins that he's earned and then sold it this year and remembered it.

[Japinat]

When it comes to knowledge and gaining experience with bitcoin investment, or any investment that can be accessed by both rich and poor, I don’t think there is distinction on it. Both have equal opportunities to learn and gain, but it’s just undeniable that those rich individuals have more advantages to invest because they have bigger amount of funds saved in their bank account, but when it comes to being knowledgeable and skillful on a certain investment, even poor investors can be also on top of it.

[Hazink]

The rich people get all it takes to make wealth and maintain wealth, but the poor don’t have that, which is an undeniable truth. However, in terms of investing in Bitcoin, there is not much of an advantage over the other as long as they start at the same time; the profit margin will be the same.

Let’s say, for instance, a poor average person bought Bitcoin worth $100 when the Bitcoin price is at $50k, and the Bitcoin price then increased to $100k after holding for how many years. The worth of that $100 worth of Bitcoin will shift to $200.

The same is applicable with a wealthy person buying Bitcoin worth $100k in the same market price as the poor; his profit will still be by the same percentage as the poor. The only difference is by figure, which is a fair case since they both did not invest equal amounts.

[GeorgeJohn]

I made a post once titled "is Bitcoin just for the rich? " , I got a lot of reply and the majority said Bitcoin is also for the poor,

It is obvious that bitcoin is not meant for anybody neither you being rich, or been poor, bitcoin is meant for everybody it is like a currency a traditional currency in that matter is meant for everybody so it is left for you based on your own activities or your home job for you to have money so that is have bitcoin is being, nobody bitcoin was created for it is created for everybody provided that you have the passion on it bitcoin is created for you, there is no segregation anything that has to do with Bitcoin but some people do not understand such so Bitcoin is something that has to do with everybody who have interest on it, from my own observations about Bitcoin.

[Sanitough]

It’s already given that rich investors will always have an edge over those poor yet ambitious investors, but it does not mean that the rich will always be more successful and profitable compared to poor ones when investment goal is concerned. At the end of the day, it depends on the individual’s character and performance whether he’s more capable to manage well his investment or he’s just good in the beginning but eventually lose his interest in the long run.

One’s rich financial status may be an advantage, but it will never define one’s success in the end.

[JiiBs]

I discovered that the rich have a high advantage when it comes to Bitcoin, we should know that Bitcoins high volatility and complex market dynamics often favor those with more resources, this rich folks got what it takes, they have the experience and Market knowledge to do as the wish without breaking a sweat or being scared because they have the funds and can afford to hold through market fluctuations. This guys can make big investments in market analysis, tools and expertise, tell me how will the poor catch up, how will the poor get to such height, how can they afford to overcome fear when there is little experience.

Most definitely being rich has its advantages. You wouldn’t expect a rich person to struggle in the same way as a poor person or a middle class person. Of course not, these guys have been there before or someone else had been there for them, paid the price and now, they have much to offer for what they hope to receive.
The one way those at the bottom could meet up is by taking those little steps to wealth and archive wealth. There isn’t no faking it, you’ve got to be rich if you hope to enjoy what the rich do in investments.