Is Bitcoin Only For The Rich?

[Ever-young]

No Bitcoin is not only for the rich , Bitcoin investment is for everyone by you a motorcycle rider or market woman can still invest in to Bitcoin investment,so by so doing the motorcycle rider will save more in Bitcoin that his normal savings,so Bitcoin investment is for everyone not only for the rich

You’re very correct. Anyone is at liberty to invest in Bitcoin, all you need is to have a discretionary income and you can invest in Bitcoin. Although that’s not all, cos you may have discretionary income but lack the resilience, discipline and patience to invest in Bitcoin, and all these are very important if you must succeed as a bitcoin investor.

[Grace333]

I wouldn’t believe that bitcoin is only for the rich people, Bitcoin is for everyone, both the poor and the rich can possibly invest into bitcoin, which is why what you can invest in bitcoin with is what we call a discretionary income, if you have money after paying your bills that is a leftover then you can possibly invest invest into bitcoin, bitcoin is for everyone as long as you have money to use and invest and accumulate bitcoin which is why when I see people saying that Bitcoin is for the rich I always think otherwise about that situation and scenario, so many people have become big men through investing in bitcoin, because Bitcoin have an extraordinary value to change every individual’s life if we can accumulate and buy bitcoin consistently and hold for a long term.

Rich people are the majority of people investing in BTC when you check the statistics of investors in the industry. Nobody is stopping the poor or Rich from investing in BTC just that the poor are afraid of taking the risk to invest in BTC that is decentralized currency and if anything happen you have nobody to hodl responsible for the loss.

But rich people don't reason the loss before they can invest in BTC, because they have the idea of hodling BTC for long time before they can trade to make more money that will improve their wealth.

It’s true sha, most rich people invest more in Bitcoin because they can afford to take bigger risks without feeling much pressure. But I still don’t think Bitcoin is only for the rich. The truth is, Bitcoin was created for everyone or poor, the main difference is just the approach.
The rich can go all in at once, while the average person can DCA bit by bit and still end up holding a decent amount over time..  It is more about mindset than how much you start with. Even small investors who stay disciplined can still benefit greatly in the long run..

[Agbe]

Bitcoin is fair to everyone so I don't think that Bitcoin only favours the rich only, everyone has the same chances of accumulating Bitcoin the rich only has the financial power but that, doesn't mean that those who are not financially buoyant are at a disadvantaged position when it comes to acquiring Bitcoin. Bitcoin accumulation is not dependent on the amount of money that you have both the poor and the rich equally have the same chances because,in terms of accumulation there are different packages which may be convenient for anyone.such investment packages is the DCA method which allows people to continuously investing a specific amount of money over a period of time.

[Mr_Brilliant$]

Bitcoin is fair to everyone so I don't think that Bitcoin only favours the rich only, everyone has the same chances of accumulating Bitcoin the rich only has the financial power but that, doesn't mean that those who are not financially buoyant are at a disadvantaged position when it comes to acquiring Bitcoin. Bitcoin accumulation is not dependent on the amount of money that you have both the poor and the rich equally have the same chances because,in terms of accumulation there are different packages which may be convenient for anyone.such investment packages is the DCA method which allows people to continuously investing a specific amount of money over a period of time.

True talk bro, I go agree with you on that. Bitcoin was literally made for everyone, nor be only just the rich.. The difference is just in how much each person can afford to buy..  A rich person might stack whole coins, while someone else might be buying small small, but both are still part of the network..
What really matters is consistency, not size of capital..  With DCA and the right mindset, even the small accumulations fit grow into something big..

[NewRevelation]

~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%

Yea, mindset is great and a great asset and tool to greatness.

Someone said in a book I read,, The rich are gets richer because they take risk, even more risk than the poor. This is an already known statement. But the wisdom he revealed lies in the next statement he made. He then said, when the rich take these risks, two things happen.
1. If the risk pays off positively, then get happy and bevoymore richer and gather more encouraging mindset for more risks.
2. But if the risk fails and they lost greatly, they are gain more experience and learn better too.

So, this implies that someone who takes risk does not really loose all at once, And secondly, you don't loose everyday with the experience you have gathered from your previous losses. I learnt alot from that book.

Bitcoin has no limitations to the poor, neither was is only created for this rich. It's just the poor thinking mentality of the poor that limits them, not Bitcoin, never Satoshi

[DYOR+BTC]

Bitcoin is fair to everyone so I don't think that Bitcoin only favours the rich only, everyone has the same chances of accumulating Bitcoin the rich only has the financial power but that, doesn't mean that those who are not financially buoyant are at a disadvantaged position when it comes to acquiring Bitcoin. Bitcoin accumulation is not dependent on the amount of money that you have both the poor and the rich equally have the same chances because,in terms of accumulation there are different packages which may be convenient for anyone.such investment packages is the DCA method which allows people to continuously investing a specific amount of money over a period of time.

Apart from financial stability, I see know reason while someone may say Bitcoin is for the rich because its structure is open to all and not limited to some specific set of people. Statistically it has been proven that over 60 percent Investment made in Bitcoin where from the poor and not the rich which is a clear indication that Bitcoin was developed to eradicate poverty  in the society but due lack of information about it many believed what they think about it without proper scrutiny on how it operates.
The only advantage the rich has over the poor is there investment pattern which they invest with high amount while the poor invest with little amount.

[Borbb]

Exactly unlike you said Bitcoin isn't made basically for the rich people, they're people who start from poor to reach today if not for Bitcoin it really helps many people in the society today how to make it today, at least everything has a start I believe they doesn't start from rich there was a way they start making their money 💰 before going to Bitcoin investments so they can enlarging their wealth, Bitcoin can favor you when you an expert in the trader and it requires your effort.

[Uhwuchukwu53]

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.

We have three classes of individuals in every country, we could have more but these three are the primary ones.

We have the rich, poor and middle class. In some countries we also have the wealthy, since one can be rich but not wealthy.

The poor cannot invest in Bitcoin, this is super clear and that is what you are referring to. But even at that, some of them force themselves into holding at least some fraction.

The middle class are the ones, who are financially stable, they are not rich yet, but they want to be in the next few years. These people can invest in Bitcoin. Many investor has proven that there is a strategy that anyone who is not rich but financially stable can invest in Bitcoin for long term. 

You have to kill this mentality @BitBakerr1. Those who invested in Bitcoin when it was worth less or nothing, they never were the rich ones but look how things all ended out. You think it is over now. You feel the price of Bitcoin is too much for anyone to buy now. Wait for the next 10 years. With this mindset, you might end up saying, "Bitcoin is only meant for the Billionaires"

Your facts is correct, there is what I called "mindset" in approaching investment, it's a tool that determine one success in everything one engaged on. It also determine how one can easily access opportunity not undermining it's financial attachment. Bitcoin has never been design for the Rich only but the way many approach it today with their mindset, shows it's for a particular class. when Bitcoin was established, if properly checked there are facts and figures of those who are not rich who have taken advantage of investing who through their mindset loss by selling off what they hold.

It's a mindset that serve as seerer of every investor, a poor holder of Bitcoin from the early stage can't see himself poor neither see Bitcoin only for the poor because it's mindset has over grown beyond that level, so it's today to those who dear to take advantage within their strength tomorrow will be also those who will said it's for billionaire according to 'Agbamoni'.

[Gamanka@@]

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.

Bitcoin sincerely yes if may say is for the rich why because you need capital to rise capital and without capital you can not start Bitcoin investment so is advisable before you start make sure you are capable of it Bitcoin is not something you can just do it has principles one you need to compose yourself learn and understand what is all about because it's not one day pay job that will invest today tomorrow you are expecting gain it's has to do with patience because the investment is for long term so if you one who is short term investments shouldn't expect much.

Ideally Bitcoin like seriously to be vital is for the capables but though the middle class can but the middle has to be very patience otherwise he or she will end in frustrating infact totally in all be rich before you start or even you are not rich try to capable even it small  if really  you are ready for the  game so that  you can achieve and aim high you want something huge you must sacrifice to get a huge return.

[VivaMan]

It's absolutely NO everyone can be an investor undermining the capital one have to start with coming up with a phrase which is (Everyone want to get it but few are willing to work hard) no one is poor it depends on what you are willing to start with investing with the little you can start with can multiply greatly on your investment you just need to have a source of income to invest with.

[MainIbem]

It's absolutely NO everyone can be an investor undermining the capital one have to start with coming up with a phrase which is (Everyone want to get it but few are willing to work hard) no one is poor it depends on what you are willing to start with investing with the little you can start with can multiply greatly on your investment you just need to have a source of income to invest with.

Lots of folks missed a huge opportunity years back because of that mentality that Bitcoin is for the rich, then it was even half the price it is now and funny enough some have all it takes to invest and would've become wealthier currently but they got the wrong impression about Bitcoin. Anyways those who currently have same mentality would suffer similar consequences in future if they don't correct that impression and start investing in Bitcoin now that it's still very early, Bitcoin is a hope for better future and those who believe and invest in it would always smile at the end.

[cxtreenal]

It's absolutely NO everyone can be an investor undermining the capital one have to start with coming up with a phrase which is (Everyone want to get it but few are willing to work hard) no one is poor it depends on what you are willing to start with investing with the little you can start with can multiply greatly on your investment you just need to have a source of income to invest with.

Lots of folks missed a huge opportunity years back because of that mentality that Bitcoin is for the rich, then it was even half the price it is now and funny enough some have all it takes to invest and would've become wealthier currently but they got the wrong impression about Bitcoin. Anyways those who currently have same mentality would suffer similar consequences in future if they don't correct that impression and start investing in Bitcoin now that it's still very early, Bitcoin is a hope for better future and those who believe and invest in it would always smile at the end.

In the early days of Bitcoin, some prudent people predicted that the price of Bitcoin would exceed $100k, but many Folks may have considered their prediction as a joke. Nowadays people's perception has changed and they consider Bitcoin as a promising asset for investment and they are holding it regularly. Those who missed the opportunity many years ago have regretted it later. But the previous mistake should not be allowed to be repeated because investors are very aware nowadays.

Folks who call Bitcoin an asset for the rich try to mislead investors. But nowadays even a poor investor knows that the supply of Bitcoin is limited and the potential for this asset to increase in value in the future is high. Even investors of any income can accumulation Bitcoin because of the opportunity to buy fractions.

[SuperBitMan]

No Bitcoin is not only for the rich , Bitcoin investment is for everyone by you a motorcycle rider or market woman can still invest in to Bitcoin investment,so by so doing the motorcycle rider will save more in Bitcoin that his normal savings,so Bitcoin investment is for everyone not only for the rich

You’re very correct. Anyone is at liberty to invest in Bitcoin, all you need is to have a discretionary income and you can invest in Bitcoin. Although that’s not all, cos you may have discretionary income but lack the resilience, discipline and patience to invest in Bitcoin, and all these are very important if you must succeed as a bitcoin investor.

You are right some set of people think that if they have only the money then they are good to invest in Bitcoin but one thing they forget is that having money to invest in Bitcoin is not the only criteria you need in order to succeed in Bitcoin investment, just like you said one needs to be patient, discipline and consistent in order to succeed in Bitcoin investment and again he needs to have a management skill this one is very important for me is the most important criteria someone should have in order to succeed in Bitcoin investment if you don't have a management skill you will always find yourself dipping hands into your bitcoin investment which is not proper for investment, so you need to know how to manage your resources very well and you need to plan yourself in everything you do lastly you need to have a backup funds, if you have all this I have listed out in place then believe me you will surely succeed in Bitcoin investment.

[Mehmet69]

It's absolutely NO everyone can be an investor undermining the capital one have to start with coming up with a phrase which is (Everyone want to get it but few are willing to work hard) no one is poor it depends on what you are willing to start with investing with the little you can start with can multiply greatly on your investment you just need to have a source of income to invest with.

You are not right. Everyone can invest in Bitcoin. None of us need to be rich to invest in it. Investing requires proper and long-term focus. There are many rich people who do not invest regularly. They can never be investors. Investing in a market where there is a decline and then a profit when the price increases is not a sign of an investor. No one can be an investor if they only have a stream of income.

To invest in Bitcoin, you need to extract a prudent income from the flowing money. That is, if you use the remaining money to meet your daily financial needs and invest, then you do not have to sell any of that investment. Selling an investment before reaching the goal is the most difficult thing for an investor. Therefore, we do not need to be rich to invest in Bitcoin. It is possible to be a long-term investment only if we can manage our financial flow properly. Therefore, Bitcoin is not only for the rich and wealthy. Investing in Bitcoin is open to everyone.

[Y3shot]

It's absolutely NO everyone can be an investor undermining the capital one have to start with coming up with a phrase which is (Everyone want to get it but few are willing to work hard) no one is poor it depends on what you are willing to start with investing with the little you can start with can multiply greatly on your investment you just need to have a source of income to invest with.

When it comes to Bitcoin investment, as long as you are earning, it means you are not poor. Whoever is earning is not poor and can afford Bitcoin. In Bitcoin investment, everyone has their own limit; you don't need to reach a certain financial level before investing in Bitcoin.

If you think you must be rich before investing in Bitcoin, you might not even invest at all. Bitcoin is for everyone who is earning, and you only need to invest what you can afford. If you try to invest more than what you can't afford, it will be impossible to continue with the investment.

[Mr_Brilliant$]

Exactly unlike you said Bitcoin isn't made basically for the rich people, they're people who start from poor to reach today if not for Bitcoin it really helps many people in the society today how to make it today, at least everything has a start I believe they doesn't start from rich there was a way they start making their money 💰 before going to Bitcoin investments so they can enlarging their wealth, Bitcoin can favor you when you an expert in the trader and it requires your effort.

Most of the big names in Bitcoin today actually started small..  It is not really about being rich, it is about understanding how it works and having patience..
Even with little capital, consistency and knowledge can make a big difference..

[Skydrill]

I wouldn’t believe that bitcoin is only for the rich people, Bitcoin is for everyone, both the poor and the rich can possibly invest into bitcoin, which is why what you can invest in bitcoin with is what we call a discretionary income, if you have money after paying your bills that is a leftover then you can possibly invest invest into bitcoin, bitcoin is for everyone as long as you have money to use and invest and accumulate bitcoin which is why when I see people saying that Bitcoin is for the rich I always think otherwise about that situation and scenario, so many people have become big men through investing in bitcoin, because Bitcoin have an extraordinary value to change every individual’s life if we can accumulate and buy bitcoin consistently and hold for a long term.

Rich people are the majority of people investing in BTC when you check the statistics of investors in the industry. Nobody is stopping the poor or Rich from investing in BTC just that the poor are afraid of taking the risk to invest in BTC that is decentralized currency and if anything happen you have nobody to hodl responsible for the loss.

But rich people don't reason the loss before they can invest in BTC, because they have the idea of hodling BTC for long time before they can trade to make more money that will improve their wealth.

in as much as it seems as if the rich are the majority investing in Bitcoin, it still doesn't necessarily mean that Bitcoin is only for a selected few or only those who have high financial power, one unique advantage about Bitcoin is that even if you have a low income or you're a low income earner there is still chance for you to invest in bitcoin and grow your investment over time which means you do not have any excuse not to invest due to low capital because you can invest according to the level of your income.

Bitcoin is for everyone and not just some people who are just looking for where to put their money, Bitcoin is the way to financial freedom.

[fredericktaylor]

Most of the big names in Bitcoin today actually started small..  It is not really about being rich, it is about understanding how it works and having patience..
Even with little capital, consistency and knowledge can make a big difference..

People can choose the right path by gaining knowledge, it is very important to gain our knowledge about Bitcoin. It is not that investing in Bitcoin can get rich quickly, the main purpose of BTC was to simplify the banking system so that a person can easily exchange his money without having to depend on a third party, a person can independently save his money, no country or government can ever control it. Over time, inflation is increasing, but by holding Bitcoin in the long term, we can protect ourselves from inflation because its supply is limited, its demand is gradually increasing, common people and small and big traders are buying Bitcoin in large quantities and holding it for the future, big profits can be expected by holding it for a long time.

in as much as it seems as if the rich are the majority investing in Bitcoin, it still doesn't necessarily mean that Bitcoin is only for a selected few or only those who have high financial power, one unique advantage about Bitcoin is that even if you have a low income or you're a low income earner there is still chance for you to invest in bitcoin and grow your investment over time which means you do not have any excuse not to invest due to low capital because you can invest according to the level of your income.

Bitcoin is for everyone and not just some people who are just looking for where to put their money, Bitcoin is the way to financial freedom.

It's not that only the rich can invest in Bitcoin, anyone can buy Bitcoin, it is for everyone. To start investing, it is very important to have a basic vision of a person as well as a discretionary income. You need to understand that nothing good can be obtained by investing in Bitcoin in the short term, but profit can be expected by holding it in the long term. It is better to invest in Bitcoin with the remaining discretionary income after deducting our necessary expenses. None of us know anything about the future, the price of Bitcoin is volatile and rapidly fluctuating, and as a result of investing, the market may fall, but that is short-term. long-term investors do not get disappointed when the market falls, but buy more Bitcoins as much as they can and hold on to them for a long time, because Bitcoin is the digital assets of the future.

[Kagaru]

Bitcoin is fair to everyone so I don't think that Bitcoin only favours the rich only, everyone has the same chances of accumulating Bitcoin the rich only has the financial power but that, doesn't mean that those who are not financially buoyant are at a disadvantaged position when it comes to acquiring Bitcoin. Bitcoin accumulation is not dependent on the amount of money that you have both the poor and the rich equally have the same chances because,in terms of accumulation there are different packages which may be convenient for anyone.such investment packages is the DCA method which allows people to continuously investing a specific amount of money over a period of time.

Apart from financial stability, I see know reason while someone may say Bitcoin is for the rich because its structure is open to all and not limited to some specific set of people. Statistically it has been proven that over 60 percent Investment made in Bitcoin where from the poor and not the rich which is a clear indication that Bitcoin was developed to eradicate poverty  in the society but due lack of information about it many believed what they think about it without proper scrutiny on how it operates.
The only advantage the rich has over the poor is there investment pattern which they invest with high amount while the poor invest with little amount.

Exactly, bitcoin is truly open to everyone there are no special rules for rich or poor. Those with less financial capacity can also gradually accumulate Bitcoin little by little. The DCA method is really effective in this case, because it is possible to make long term profits without much risk. More important than large capital is regular investment a long term view, and real knowledge of the market.

In my opinion the real difference between the rich and the poor is not the amount of investment but the potential, Even those with little money can benefit from Bitcoin with the right planning and knowledge.

[Queen uloma]

You're very correct, Bitcoin is not mainly for the rich, it's core principle, which simply means that anyone with internet connection can participate, I agree with you that mindset matters alot but financial ability matters just as much, someone who is wealthy can afford to take risks, and even lose money without life changing repercussion. But someone with low income can't. Bitcoin isn't built for the rich, nor restricted by status. As long as you have internet connection you can participate regardless of your background or status.