Is Bitcoin Only For The Rich?

[programmer3666]

~snip

Well the phrase the rich get richer and the poor get poorer is deep as hell. Fact is being classified as either poor or rich depends a lot on your mindset. The rich are accustomed to taking risks and although it may not always go well with time they eventually get better at it while the poor is busy struggling at differentiating liability from assets.

You see bitcoin , people were very scared of investing in it but the earlier you learn to get accustomed to taking risks the better for you. The poor is busy saving to buy iPhones while the rich is buying stocks at apple. Mindset matters alot... when you stand out in your mindset then you stand out in your income.

I came across an article a long time ago where even apple's CEO claimed that if you bought apple stocks worth just the price of the iPhone released that year every year, over a cumulative period till date you'll have over $1BTC already...

I literally confirmed this and by now the ROI is over 835%

i think the trut just sits somewhere in the middle becuase Bitcoin was never created to be only for the rich that i can personally vouch for, it was built more as an open and borderless system where anyone can participate!! no matter their financial status. i feel the difference usually comes down to mindset and priorities, just like you & @Hatchy pointed out.

yea!! one can say that the rich kind of take more risks because they can afford to, while the poor may avoid them because the stakes feel a bit higher but at the same time!! being poor does not automatically mean you can not invest at least even if it is small, i believe that consistent amounts you put into bitcoin over time can make a big difference as long as you are willing to be patient. that is the beauty of bitcoin compared to all those traditional investments like stocks or real estate. bitcoin is a bit more divisible, because you don’t need to buy a whole coin to participate in the ecosystem.

one thing is certain!!! Bitcoin is not just about wealth, it is about discipline, patience and soem form of education as well. whether rich or poor!! the people who approach it with the right mindset and strategy are the ones who benefit in the long run.

[Anayochukwu]

I came across a recent post on the forum, where the op was on a motion that Bitcoin was designed exclusively for the "rich". While it’s true you need money to acquire it, this perspective completely misses the point of what Bitcoin truly is.

Bitcoin is a technology built on the idea of freedom for the people. That's literally democracy. A system, which the government has no power over. Everyone is equal. Its very foundation is open source and free for anyone to use. The source code is publicly available, wallets are free, and a global community of developers works tirelessly to maintain the network without receiving any rewards. They do it for the love of the technology and its potential to create a more equitable financial system.

So how can something built on such open principles only meant to favor the rich? The difference isn't even about wealth, but about mindset. specifically, the willingness to take a risk.
A poor person or someone with limited income might see the volatility of Bitcoin and think, "If I invest in this, I don't know if it'll work out. I can't afford to lose my money." This is a valid fear. someone with more capital might see the same volatility and think, "This is a calculated risk with a potentially high reward." let's give it a try.

Think back to Bitcoin's early days when it was worth just pennies. If a poor folk and a rich folk had both invested at the same time, who do you think would have held on until now? Bitcoin offers a path to financial inclusion for everyone. It doesn't discriminate based on your bank account balance. Its true power lies in its accessibility and the opportunity it provides for anyone, rich or poor, to participate in a decentralized financial system.

I would say that Bitcoin is for everyone regardless of your class or status in the society, it may seem like it is only for the rich because they are the ones that have the money to invest so they have the opportunity unlike the poor man that can't afford to invest. Bitcoin investment is meant to be held for a long term to get a better profit and the poor man using his little savings to invest won't be able to wait for too long before they start expecting profits and that's where it goes wrong, we can also say that Bitcoin is for anyone that can afford it because some of the poor people can't even afford to buy using the DCA method and investing in Bitcoin doesn't only require money, it also requires the right mindset of investment and the rich are well known for it because they invest more to increase their riches.

[Glowy]

Hatchy leave this thing, if you no get money you no fit invest in Bitcoin, person never see food chop well e dey go invest in Bitcoin, whether you like am or not if you no get money you no fit invest or buy and hold Bitcoin.

Hatchy isn't saying that someone who doesn't have money can invest in bitcoin; he trying to let us know that Satoshi Nakamoto didn't create bitcoin for the rich but for everyone. It isn't compulsory that everyone must invest in bitcoin because the main purpose Satoshi Nakamoto created bitcoin was to eliminate a middleman when you want to send money to your loved ones. If you can't invest in bitcoin, you can save up your money in bitcoin so that you can have 100% control over your money and you will overcome inflation.

You are on point, I think, the rich as business and investment minded people, went in when they saw the potential.
Somehow it became the assets of the rich by perception

[Joeboy]

Hatchy leave this thing, if you no get money you no fit invest in Bitcoin, person never see food chop well e dey go invest in Bitcoin, whether you like am or not if you no get money you no fit invest or buy and hold Bitcoin.

Hatchy isn't saying that someone who doesn't have money can invest in bitcoin; he trying to let us know that Satoshi Nakamoto didn't create bitcoin for the rich but for everyone. It isn't compulsory that everyone must invest in bitcoin because the main purpose Satoshi Nakamoto created bitcoin was to eliminate a middleman when you want to send money to your loved ones. If you can't invest in bitcoin, you can save up your money in bitcoin so that you can have 100% control over your money and you will overcome inflation.

No need for ona to dy misunderstand ona self, truly bitcoin na for everybody just as wetin Satoshi have in mind, the primary purpose of Bitcoin na to use am as means of payment, so anybody fit use am, na because of how Bitcoin dy appreciate in value overtime people start to dy see the investment opportunities inside, but  as for the investment matter, na for only those wey dy alright financially fit invest and accumulate Bitcoin gradually and consistently, because anyone wey never fit chop well go mostly struggle with his investment because when hunger come, him go temper or sell off his holdings just to use arrange one or two food use guide for thr time being, so bitcoin dy very open to all, but no be for investment side.

Bitcoin is indeed open to everyone of us, but then investing in bitcoin depends solely on your financial condition. This is because you need your discretionary income ( whhich flow out from your income or earnings) to invest. And then a guy who is struggling with his cash flow and as such is unable to feed himself talk of less the family, how then can he be able to come up with an extra money as his discretionaryy income..

[(Hummus)]

Bitcoin is meant for everyone, that includes the poor as well. But how can someone who isn't financially stable invest in Bitcoin one may ask, the only way to go about it is to get something to do and starting saving up. Excuses are for those that are not ready to succeed. As someone that's poor the only thing that you would say that can make you ignore is probably a lack of interest in it. But if you have the intention of investing then you must start working on something instead of waiting till you have the bulk money you are looking for

[nfuorus]

Nahh bro, Bitcoin is not only for the rich. The fact say we see the price of 1 BTC very high nor mean say we go come immediately think say you need to be wealthy before you can get bitcoin.. The truth be say, you don’t have to buy a whole Bitcoin, you can literally start with a small fraction depending on watin you fit afford.. The beauty of it is that it is open to anyone, whether you be student, a salary earner or a business person.
Some of the people holding big amounts today first started with very little years ago, they just stayed consistent and patient. So it is less about being rich and more about understanding how it works and setting your goals and also been discipline enough not to panic when the price moves up and down...

[ZeroVinsonN]

Bitcoin is meant for everyone, that includes the poor as well. But how can someone who isn't financially stable invest in Bitcoin one may ask, the only way to go about it is to get something to do and starting saving up. Excuses are for those that are not ready to succeed. As someone that's poor the only thing that you would say that can make you ignore is probably a lack of interest in it. But if you have the intention of investing then you must start working on something instead of waiting till you have the bulk money you are looking for

Waiting has always been the reason why people lose out on major opportunities, especially in endeavours like bitcoin investment, you see people trying to bulk up their funds first before starting their bitcoin investment journey only to realise along the way that all the time they wasted could have been spent in a much wiser manner, but at least it better late that never, most people don't even realize their mistakes until they run out of time, they spend years preparing to invest in bitcoin to a point where they even forget what they had planned out in the first place, you see them abandoning the prospect of investing in bitcoin totally and then just letting all that time and effort go to waste because they missed something fundamental about bitcoin investment, you can invest with whatever amount you have

[liasbaa]

Not at all, Bitcoin was never created to be only for the rich..  Anyone can get in, whether you are buying $10 worth or $10,000 worth, it can be divisible down to sats, so you don’t need to own a whole coin to benefit. Rich people may buy larger amounts, but the system does not lock out the average person.
 In fact, it was designed as an open network for everyone, not just the elites. What really matters is consistency, patience, and understanding what you are holding, not the size of your wallet…

Exactly, that is the beauty of Bitcoin.. Unlike traditional investments where you need a large starting capital, Bitcoin breaks that barrier with smaller parts (sats). 
The fact that it is open and accessible to anyone willing to learn and commit makes it good..  Even with small amounts, if you stay consistent and hold long term, the impact can be big.. it is not about being rich, it is about positioning yourself early and having the right mindset…

There is definitely a point to getting rich but you have to go through stages. Everyone has the desire to suddenly become rich but it is not realistic. You have to first realize how much you are actually capable of. Consider your income and how much Bitcoin fraction you can buy per week from it.

The beauty of Bitcoin savings is that it is great for people of all incomes. If you can afford more then the amount of savings should be more and if you can afford less then the amount should be adjusted accordingly.

[ODG001]

Nahh bro, Bitcoin is not only for the rich. The fact say we see the price of 1 BTC very high nor mean say we go come immediately think say you need to be wealthy before you can get bitcoin.. The truth be say, you don’t have to buy a whole Bitcoin, you can literally start with a small fraction depending on watin you fit afford.. The beauty of it is that it is open to anyone, whether you be student, a salary earner or a business person.
Some of the people holding big amounts today first started with very little years ago, they just stayed consistent and patient. So it is less about being rich and more about understanding how it works and setting your goals and also been discipline enough not to panic when the price moves up and down...

Na correct point you make like this and I totally agree with you
Bitcoin na for everybody na just say make you buy as your hand fit reach. Just like other type of investment if you no get money to buy everything you fit out the one you fit afford for smaller fraction.]

[Ever-young]

You are on point, I think, the rich as business and investment minded people, went in when they saw the potential.
Somehow it became the assets of the rich by perception

Whether perception or inception, it’s totally wrong to think that bitcoin is actually for the rich alone. As long as anyone has discretionary income, regardless of their financial status, they can invest in bitcoin. The rich, even with their money could still have some setbacks that’ll potentially prevent them from investing in Bitcoin, so we can’t just assume that the rich has all it takes to invest in Bitcoin. There are people who are rich in other assets,  it in cash, such people control very little amount of cash, do you realize that a poor man who controls more amount of cash could actually be in a much better position to invest in Bitcoin? It’s not about the wealth but personal financial situation.

[Olatundespo]

So how can something built on such open principles only meant to favor the rich? The difference isn't even about wealth, but about mindset. specifically, the willingness to take a risk.
A poor person or someone with limited income might see the volatility of Bitcoin and think, "If I invest in this, I don't know if it'll work out. I can't afford to lose my money." This is a valid fear. someone with more capital might see the same volatility and think, "This is a calculated risk with a potentially high reward." let's give it a try.

Bitcoin is not only for the rich; Bitcoin is openly for each and everyone, both the poor and the rich. It's just that at times the rich people receive bigger profits than the poor. Because the rich get enough money to invest with any amounts they wish at that time, but the poor with the limited income cannot afford to use the big amounts all the time.

Bitcoin really doesn’t discriminate, whether rich or poor, anyone can get involved. The main difference is just the size of capital.
 A rich person might buy in bulk and see bigger returns, but that does not mean the poor are left out. Even small, consistent investments can add up over time, and history has shown that early adopters who started with little still benefited a lot…

You may regards that the poor tend to save money as they earn it. If those small investors can start with Bitcoin, they will have an interest in managing it for the long term and most investors can reach their target. The difference in capital size exists between the rich and the poor but especially in the case of Bitcoin investment, investors who can save or hold for the long term are the smart investors.

The size of the capital cannot determine a successful investor. I think investors who can do Bitcoin regularly and frequently and consistently can be successful investors and are determined to apply their capital correctly.

[Rhow]

You may regards that the poor tend to save money as they earn it. If those small investors can start with Bitcoin, they will have an interest in managing it for the long term and most investors can reach their target. The difference in capital size exists between the rich and the poor but especially in the case of Bitcoin investment, investors who can save or hold for the long term are the smart investors.

The size of the capital cannot determine a successful investor. I think investors who can do Bitcoin regularly and frequently and consistently can be successful investors and are determined to apply their capital correctly.

You say that there is a difference in the size of capital between the rich and the poor. But I believe that a person cannot become rich just by having money. In my opinion, there is a difference in thinking between the rich and the poor. There is a difference in their mindset. When a person with a rich mindset has money, he invests that money in a business, real assets or a good investment opportunity from which he can get good returns. But on the other hand, when a person with a poor mindset has money, he spends it on fulfilling his needs. At such a time, he spends money on essential things as well as on things that he would have done without at that moment. In this way, after finishing the money, he is back to his previous position.

So I would say that there is a difference in the size of capital between a rich and a poor person as well as a difference in mindset. If a poor person can change their mindset, he can definitely become a long-term investor. And over time, he can expect a good return.

[yixichloro2xx]

There is definitely a point to getting rich but you have to go through stages. Everyone has the desire to suddenly become rich but it is not realistic. You have to first realize how much you are actually capable of. Consider your income and how much Bitcoin fraction you can buy per week from it.

The beauty of Bitcoin savings is that it is great for people of all incomes. If you can afford more then the amount of savings should be more and if you can afford less then the amount should be adjusted accordingly.

It is true that people always want to get rich fast, but life doesn’t really work that way. With Bitcoin too, it’s about taking it one step at a time and sticking to what you can actually afford. If you earn more, you can save more, and if you earn less, you just save what you can.....That’s the good thing about Bitcoin, it works for everyone. Even small amounts add up over time if you stay consistent, and that’s really where the progress comes from.

[nfuorus]

There is definitely a point to getting rich but you have to go through stages. Everyone has the desire to suddenly become rich but it is not realistic. You have to first realize how much you are actually capable of. Consider your income and how much Bitcoin fraction you can buy per week from it.

The beauty of Bitcoin savings is that it is great for people of all incomes. If you can afford more then the amount of savings should be more and if you can afford less then the amount should be adjusted accordingly.

It is true that people always want to get rich fast, but life doesn’t really work that way. With Bitcoin too, it’s about taking it one step at a time and sticking to what you can actually afford. If you earn more, you can save more, and if you earn less, you just save what you can.....That’s the good thing about Bitcoin, it works for everyone. Even small amounts add up over time if you stay consistent, and that’s really where the progress comes from.

You are right bro, Bitcoin is not some shortcut to instant riches, it is really about patience and discipline. A lot of people rush in expecting quick wealth, but the real progress comes from consistency, no matter how much you’re putting aside. That is the whole game, whether you earn a lot or just a little, you can still build something meaningful if you stick with it.
Even small amounts stacked regularly will grow over time, and when you look back years later, you will realize those steady steps were actually the smartest move.

[CryptSafe]

You can decide to invest in bitcoin with any amount which you have, if you wan buy bitcoin, the only thing wey u go check be say d minimum amount wey you fit use buy coin from the exchange, as long as u meet up with the exchange requirement, then u go fit buy ur coin, nobody go tell u say minimum amount wey u fit use buy bitcoin na 100$

D only reason why I go talk say rich people get upper hand be say, dem go buy plenty, also dem go fit hold for long term, since dem get money already, their attention no go really Dey that side compare to person wey no too guide wey go Dey check wallet up and down. But anybody fit invest in bitcoin with any amount wey u get.

True talk, rich people get money so investment in Bitcoin no be issues for them as them get many source of income wey dem take dey hold body and also dem fit invest for a long term and the market conditions no go be a threat to them because dem no go out their mind for the investment as dem go dey busy with other activities wey go take their time and prevent them to dey always look into their Bitcoin wallet. But e no go bad if them dey regular observe the market to dey see more opportunities wey go avail itself for them to dey bag more Bitcoin as the case maybe.

However Bitcoin Na for everybody as there is no criteria for for stoop anybody from investing in it. The only thing wey dey there be say it depends on your pocket and the medium through which you want to purchase the Bitcoin. Because Na that one go determine how you go take get the Bitcoin safely into your own custodial wallet wey nobody go dey put eye into. Bitcoin is for everyone and there is no limits to an amount or volume anyone can purchase or hold. So therefore every one is permitted to bag as much Bitcoin as they can.

[Yablee0]

There is definitely a point to getting rich but you have to go through stages. Everyone has the desire to suddenly become rich but it is not realistic. You have to first realize how much you are actually capable of. Consider your income and how much Bitcoin fraction you can buy per week from it.

The beauty of Bitcoin savings is that it is great for people of all incomes. If you can afford more then the amount of savings should be more and if you can afford less then the amount should be adjusted accordingly.

It is true that people always want to get rich fast, but life doesn’t really work that way. With Bitcoin too, it’s about taking it one step at a time and sticking to what you can actually afford. If you earn more, you can save more, and if you earn less, you just save what you can.....That’s the good thing about Bitcoin, it works for everyone. Even small amounts add up over time if you stay consistent, and that’s really where the progress comes from.

That's what people really cares about they wanna get rich in a second not knowing that nothing good in life comes that easy you must under go a certain process to enable you attain your goals.

Haven't said that, when it comes to bitcoin investment it doesn't really matter if you are either rich or poor, it all depends on how serious and determine you are, you can start up with your little earnings is just for you to have a basic knowledge about it then be able to figure out your discretionary funds then you are Kool.
furthermore being rich as an investor can always play a significant role in bitcoin investment no doubt, but that doesn't mean that the poor have no say in bitcoin investment not when we always have dca method.

[Olatundespo]

You may regards that the poor tend to save money as they earn it. If those small investors can start with Bitcoin, they will have an interest in managing it for the long term and most investors can reach their target. The difference in capital size exists between the rich and the poor but especially in the case of Bitcoin investment, investors who can save or hold for the long term are the smart investors.

The size of the capital cannot determine a successful investor. I think investors who can do Bitcoin regularly and frequently and consistently can be successful investors and are determined to apply their capital correctly.

You say that there is a difference in the size of capital between the rich and the poor. But I believe that a person cannot become rich just by having money. In my opinion, there is a difference in thinking between the rich and the poor. There is a difference in their mindset. When a person with a rich mindset has money, he invests that money in a business, real assets or a good investment opportunity from which he can get good returns. But on the other hand, when a person with a poor mindset has money, he spends it on fulfilling his needs. At such a time, he spends money on essential things as well as on things that he would have done without at that moment. In this way, after finishing the money, he is back to his previous position.

So I would say that there is a difference in the size of capital between a rich and a poor person as well as a difference in mindset. If a poor person can change their mindset, he can definitely become a long-term investor. And over time, he can expect a good return.

There are many poor people who struggle to meet their basic needs on a regular basis. When their salary comes they try to meet their basic needs first and then they have some unfulfilled expectations that they want to fulfill such as drinking a whole bottle of wine or staying up all night gambling.

There are also some poor people who, considering their families, decide to save money for the future or accumulation Bitcoin and have a long term mindset and patience. Even those poor investors are much more potential investors than rich investors.

The poor by developing the habit of accumulate tiny Bitcoin decide to take themselves to a level where they are able to go to the suitable financial place. Although rich investors have a lot of wealth, most of them cannot accumulate for the long term. They buy Bitcoin lump sum and want to make a profit. Poor investors can reduce the average value of their portfolio and get huge returns by accumulating for the long term.

[PremiumcryptoHub]

I would say that Bitcoin is for everyone regardless of your class or status in the society, it may seem like it is only for the rich because they are the ones that have the money to invest so they have the opportunity unlike the poor man that can't afford to invest. Bitcoin investment is meant to be held for a long term to get a better profit and the poor man using his little savings to invest won't be able to wait for too long before they start expecting profits and that's where it goes wrong, we can also say that Bitcoin is for anyone that can afford it because some of the poor people can't even afford to buy using the DCA method and investing in Bitcoin doesn't only require money, it also requires the right mindset of investment and the rich are well known for it because they invest more to increase their riches.

It is pertinent that Bitcoin investment is open to all, regardless of class or status in society but there is a risk associated with this, which may not be possible for all classes of people to accept well. It is true that the rich have a greater ability to take risks in any investment than the poor because their financial base is very strong and they will get good support from there at any time. You are right that poor people cannot wait long to start hoping for profits if they invest using their little savings but even then, if they have additional income beyond basic expenses, they may be able to invest comfortably according to plan. Moreover how serious and firm you are, Bitcoin investing depends on that because if everyone is serious about holding Bitcoin, they will consider creating multiple sources of funding to hold it well.

[ASloveapg]

There is definitely a point to getting rich but you have to go through stages. Everyone has the desire to suddenly become rich but it is not realistic. You have to first realize how much you are actually capable of. Consider your income and how much Bitcoin fraction you can buy per week from it.

The beauty of Bitcoin savings is that it is great for people of all incomes. If you can afford more then the amount of savings should be more and if you can afford less then the amount should be adjusted accordingly.

It is true that people always want to get rich fast, but life doesn’t really work that way. With Bitcoin too, it’s about taking it one step at a time and sticking to what you can actually afford. If you earn more, you can save more, and if you earn less, you just save what you can.....That’s the good thing about Bitcoin, it works for everyone. Even small amounts add up over time if you stay consistent, and that’s really where the progress comes from.

That's what people really cares about they wanna get rich in a second not knowing that nothing good in life comes that easy you must under go a certain process to enable you attain your goals.

Haven't said that, when it comes to bitcoin investment it doesn't really matter if you are either rich or poor, it all depends on how serious and determine you are, you can start up with your little earnings is just for you to have a basic knowledge about it then be able to figure out your discretionary funds then you are Kool.
furthermore being rich as an investor can always play a significant role in bitcoin investment no doubt, but that doesn't mean that the poor have no say in bitcoin investment not when we always have dca method.

Success never comes overnight, similarly it is never possible to get rich overnight from Bitcoin, here you have to be patient and hold Bitcoin for the long term, here only by holding on can you achieve good success. Not only Bitcoin but also to achieve any big goal, you have to maintain time, patience and the right mindset. We can never achieve anything good by rushing, so you should never expect short-term success from Bitcoin investment, just start investing here and hold on.

Use the DCA method, because through this, your income amount or investment amount does not matter, rather whatever your investment amount is, if you keep investing continuously through this strategy, then it will keep growing with time, so there is no need to look at your financial situation, you do not have to invest a large amount of money at once, but keep buying continuously, no matter how small it is according to your ability, this is the biggest advantage of DCA. Not everyone can aggressively invest large amounts of money, but everyone can easily invest in Bitcoin through DCA and it can create a strong foundation in the long run.

[Orpichukwu]

Actually not everyone that holds currently are rich it's just a matter of self discipline...even now more people are investing and they are planning to hold for a long time, this doesn't meant that they don't have expenses to use money for..This is why the most important thing is to have a source of income so that you don't end up getting tempted to sell your tokens just because your are in a financial crisis

Someone doesn't need to be wealthy before they can hold for long, but they need to have something doing which will give them a steady cash inflow in order for them to use it and sustain their basic needs. It's not as if the money invested won't go a long way, but they practice delayed gratification, which is what most investors who are not successful do in order to secure a brighter future.