Is Bitcoin Only For The Rich?

[Kryptonite788]

This is a very valid question and it is true to an extent but not entirely because Bitcoin doesn’t care if you’re rich or poor, it was specifically created to give financial freedom and control to the masses regardless of financial status but however, being poor can also prevent a person from having meaningful participation in bitcoin ownership especially when you’re living from hand to mouth and barely have any extra funds for bitcoin purchase, then it becomes an issue. So whenever someone says bitcoin is only for the rich ,they’re not right but still they’re not totally wrong because two rights can co-exist at the same time ,it all depends on perspective.

[Stormisover]

This is a very valid question and it is true to an extent but not entirely because Bitcoin doesn’t care if you’re rich or poor, it was specifically created to give financial freedom and control to the masses regardless of financial status but however, being poor can also prevent a person from having meaningful participation in bitcoin ownership especially when you’re living from hand to mouth and barely have any extra funds for bitcoin purchase, then it becomes an issue. So whenever someone says bitcoin is only for the rich ,they’re not right but still they’re not totally wrong because two rights can co-exist at the same time ,it all depends on perspective.

Let's have it that participation comes in various kind of ways for a poor man who has nothing at the present time can be spending time studying about bitcoin or anything happening around bitcoin as they are improving financially enough to participate in Bitcoin ownership and another sense of participation is that you participate with the little you have while aiming to participate better, if people should cloud their mind that bitcoin is only for the rich then it will become very difficult for them to participate in any kind of way like the zeal will be zero.

[liasbaa]

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..

Those who have been involved in Bitcoin since its inception have been lucky because of their patience. If you can also accumulation Bitcoin with discipline and patience from now on and have a long term commitment good times may come for you. Many investors have a last-minute attempt to live a rich life through Bitcoin for that buying but they didn't carry on.  But this is a wrong idea because living a poor life during the Bitcoin investment period is not the right decision. You have to be consistent in Bitcoin investment and have sufficient funds with you. Just as taking care of your family is important it is important to continue investing in Bitcoin for the future because the traditional financial system can gradually make you poor. Develop an alternative and potential financial system and accumulate Bitcoin regularly and this period will be 4-10 years.

[GIF-JOBS]

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.

Bitcoin investment is open to everyone, it is not for any specific class. Rather, those who can afford it, he can invest here, it is an independent currency, if you invest here, there is no loss and no profit to me and others, and if you do not invest here, there is no loss and no profit to me and others, the matter of profit and loss here is completely your personal, if you invest, you will have the opportunity to profit in the future, and if you do not invest, you will be deprived of this opportunity, so it depends on everyone's personal wishes, but the main thing is that everyone is open to investment here.

[Jubilee58]

Investing in bitcoin is not only for the rich only. You can invest in Bitcoin with as little as 5000 naira depending on the exchange. Initially when Bitcoin came onboard, if not for lack of awareness then, many people including the poor ones in our society would have bought bitcoin in their numbers. But today, the price of Bitcoin has gone high significantly, yet you can buy Bitcoin in fractions.
Many people think the price of Bitcoin is too high that they cannot afford, but that is a wrong notion, it is necessary to know that you must not buy a whole Bitcoin, all you need is to make your budget and buy according to your budget. You can buy weekly or monthly and periodic accummulation will yield a significant amount on the long run.

[yixichloro2xx]

Bitcoin is for everyone, whether you a rich , average, or poor person. It doesn't need to go know your income or status before you can use it . The only difference there is the investment fund, knowledge and time. In terms of investment, rich people who accumulate consistently with big funds will be in a better position than that of a poor person who accumulate with just little amount of money. But nevertheless if the poor person can figure out their DCA and accumulate consistently, they will surely have some reward if they hold for a long term. Bitcoin always rewards people who hold during uncertainty period, not just those who have more money.

[Sonia_123]

Bitcoin is for every body either rich or poor, it wasn't made specifically for the rich, the difference is their resource and their mindset, the rich is ready to take the risk and invest whatever amount they are read to invest without a double taught because they believe in investing fo their future, they are risk takers which makes them successful, they have a broader understanding of investment than the poor, the secure their future.

The poor are narrow minded when it comes to investment they believe in short term profit, they are not ready to take the risk of long term to be successful in future but rather prefer hand to mouth investment.

[AYIMAN]

The answer to that question is totally NO. When bitcoin was created,it was never created for a particular set of people either rich or poor rather bitcoin was created in such a way that it can be used by everyone irrespective of your status. So saying bitcoin is only for the rich is totally unacceptable. It all depend on what we want as individuals or the kind of business/investment one may want to involved in.

There are so many rich people that may not want to invest in bitcoin because of the risks involved. Meanwhile, some poor people as the case may be are willing to invest in bitcoin.
 So it is vise versa.

[MainIbem]

The answer to that question is totally NO. When bitcoin was created,it was never created for a particular set of people either rich or poor rather bitcoin was created in such a way that it can be used by everyone irrespective of your status. So saying bitcoin is only for the rich is totally unacceptable. It all depend on what we want as individuals or the kind of business/investment one may want to involved in.

There are so many rich people that may not want to invest in bitcoin because of the risks involved. Meanwhile, some poor people as the case may be are willing to invest in bitcoin.
 So it is vise versa.

That's true, an alternative currency can never be for only one set of people. Although some ignorant people feel that the value of Bitcoin is beyond their financial capacity which makes it a coin for the rich folks only but they're wrong, many of those ignorant people don't take their time to research and learn that there's something called the DCA and with it they can own as much Bitcoins as time flies, by buying gradually but consistently. Poor people who understand the DCA and how they can change their financial status with time have embraced seriously accumulating Bitcoin. While the rest, out of ignorance are using the price of Bitcoin as an excuse for not investing.