Is Bitcoin Only For The Rich?

[Yablee0]

Bitcoin isn't only for the rich because there would be no point of introducing it to others if only Rich people can invest in it, Bitcoin is actually universal, meaning that it is meant for everyone to participate but the only thing people need to understand is that for you to invest in Bitcoin without struggling you need to have a source of income.

You don't have to be rich to be able to invest in it, this is why the DCA strategy is designed for mainly for those that don't have much, this gives you an easier investment plan that you can use to accumulate Bitcoin but it's about being patient, not everyone can be disciplined enough for that.

Bitcoin was designed to accommodate every classes of persons in our society. Both the rich and the average person and including the poor.  But the reality there is that everyone must not invest in Bitcoin, it is a matter of choice and not a must. However, for those that have it in mind and isn't that financially buoyant enough to proceed, the DCAing method has already got you covered. The maths there is just figured out your discretionary funds no matter how small it's, get started with it and keep a constant accumulating habit, try holding it for long time (5-10) and overtime you will hit up some cool.

[Queen uloma]

I think it depends on what you’re talking about, bitcoin is for everyone and not only for the rich, as long as you have a discretionary income you can always accumulate bitcoin, I think the most important thing we should consider is do we have a source of income, it’s only when we have a source of income, and then after taking care of all our needs then we can start buying bitcoin if we have figured out our discretionary .

Having a source of income flow should be what every man has to endeavour to make and keep active for his sustainability. From income comes discretionary funds that could be used for investment or just any other purposes after basic expenses has being covered. The main reason why a lot of people don't succeed with their bitcoin investment because in most cases they do it without having any means of reliable income and in any emergency they fall back to their bitcoin investment, killing it before it could even mature.

Hence, when this failures are encountered base on wrong investment approach, the mindset is then that bitcoin is for the ric, which really is a wrong conception about bitcoin as an asset that is open for all to access and possess in the quantity as much as they can without systemic controls.

Not only men, all genders cause men are not the only ones that should have a source of income, women do have their needs and shouldn't be fully dependent on a man to solve it, whether single or married women, and because Bitcoin isn't gender based is a good reason why women too should have steady flow of income to sustain their investment it.

Asides that, every other thing you’ve said is spot on cause being able to generate discretionary income is cool but making it sustainable is more better, which can be possible by having a good income flow.

You’re very correct, it’s not only men that are supposed to have a source of income. Women too need to also have their own source of income. Whether married or single, and it’s not good for women to depend fully on man to provide all their needs. Bitcoin doesn’t have to do with gender based, so women should also have a steady income that can help them sustain their investment.

 Just as you have said, having a discretionary income is a good thing but to make that income to be sustainable is also good. But it can only work if a person has a steady and reliable source of income.

[Jaycoinz]

Bitcoin isn't only for the rich because there would be no point of introducing it to others if only Rich people can invest in it, Bitcoin is actually universal, meaning that it is meant for everyone to participate but the only thing people need to understand is that for you to invest in Bitcoin without struggling you need to have a source of income.

You don't have to be rich to be able to invest in it, this is why the DCA strategy is designed for mainly for those that don't have much, this gives you an easier investment plan that you can use to accumulate Bitcoin but it's about being patient, not everyone can be disciplined enough for that.

You don't have to be rich no doubt, but we still can't deny the fact that being rich actually gives you some leverage over a normal investor, I mean, you can make lots of profits with huge investments in Bitcoin, and that's why, in any investment setting, the rich are always above the average person.

Bitcoin's design is so simple that everyone is open to invest so far as you have the number trait every bitcoin investor should have, which is patience because there is no magic done over night, you can only get profit in Bitcoin investment when you decide to take the decision of being patient.

[Johnlomape]

I think it depends on what you’re talking about, bitcoin is for everyone and not only for the rich, as long as you have a discretionary income you can always accumulate bitcoin, I think the most important thing we should consider is do we have a source of income, it’s only when we have a source of income, and then after taking care of all our needs then we can start buying bitcoin if we have figured out our discretionary .

Anybody can invest in Bitcoin irrespective of their status whether rich or poor. The most important thing to do is to make proper plans on how to starts accumulating Bitcoin gradually. We don't have to rush the process of investing in Bitcoin when we can do it gradually. The DCA is also a good strategy anyone can use to invest in Bitcoin on a long term purpose.

There are other strategy that can be used to buy Bitcoin and they all depends on what an investor is looking to achieve whether to hold for long term purpose or to make short profit from the market before leaving to buy again.

[Onyeeze]

I think it depends on what you’re talking about, bitcoin is for everyone and not only for the rich, as long as you have a discretionary income you can always accumulate bitcoin, I think the most important thing we should consider is do we have a source of income, it’s only when we have a source of income, and then after taking care of all our needs then we can start buying bitcoin if we have figured out our discretionary .

bitcoin investment is meant for everyone especially when you have your money at home to invest, why some people feel that bitcoin investment is not for everybody it is because when the invest they will quickly want to make a profit from the Investment they recently invested, and that is why you see people like to use their discretionary income for invest in Bitcoin so that they will not be afraid of what they invested or they will not also be afraid of what they are willing lose for the investment, I think that the best thing to do is to invest what you can afford to lose

[Samuel47]

No, Bitcoin is not just for the rich. You can buy tiny pieces of a single coin. You do not need to buy a whole coin like example small amount like 10$ you can buy small part called satoshis or low cost you can start with a very small amount of money open to all anyone with a phone and internet can use it bitcoin is real and truly investment where you can invest a little and start making profit as soon as you started

[yixichloro2xx]

I think it depends on what you’re talking about, bitcoin is for everyone and not only for the rich, as long as you have a discretionary income you can always accumulate bitcoin, I think the most important thing we should consider is do we have a source of income, it’s only when we have a source of income, and then after taking care of all our needs then we can start buying bitcoin if we have figured out our discretionary .

Anybody can invest in Bitcoin irrespective of their status whether rich or poor. The most important thing to do is to make proper plans on how to starts accumulating Bitcoin gradually. We don't have to rush the process of investing in Bitcoin when we can do it gradually. The DCA is also a good strategy anyone can use to invest in Bitcoin on a long term purpose.

There are other strategy that can be used to buy Bitcoin and they all depends on what an investor is looking to achieve whether to hold for long term purpose or to make short profit from the market before leaving to buy again.

Its very true that anybody can invest in bitcoin regardless of your financial status.  Someone with good income to sort out their bills will find it easier to invest properly. Unlike poor person/low income earners who will have alot of bills and expenses over their heads. I feel it will be hard for low income earner to figure out their discretionary income, at times their  important bills can suck up their full income.

Moreover if we also look at long term consistent accumulation for low income earners, it won't be as solid as someone who has a moderate or higher income, because at times their bills becomes larger. The best way for a poor/I ow income earners to do is by trying to get other way's to generate more cash flow, in order to be able to invest into Bitcoin. But my advice to a poor person is that they should always put their important bills first before deciding to invest into Bitcoin. Because if they decide not to sort out their bills, when emergencies e. g food shortages, rents, transportation, health, etc comes up , they will be forced to sell their Bitcoin.

[JoyceBTC]

Bitcoin isn't only for the rich because there would be no point of introducing it to others if only Rich people can invest in it, Bitcoin is actually universal, meaning that it is meant for everyone to participate but the only thing people need to understand is that for you to invest in Bitcoin without struggling you need to have a source of income.

You don't have to be rich to be able to invest in it, this is why the DCA strategy is designed for mainly for those that don't have much, this gives you an easier investment plan that you can use to accumulate Bitcoin but it's about being patient, not everyone can be disciplined enough for that.

You don't have to be rich no doubt, but we still can't deny the fact that being rich actually gives you some leverage over a normal investor, I mean, you can make lots of profits with huge investments in Bitcoin, and that's why, in any investment setting, the rich are always above the average person.

Even when using the DCA strategy which will help investors accumulate asset, if one is not financially fit, they can’t be consistent. But someone who has money, good source of income or even multiple source of income can remain consistent in as much as they are disciplined, because the money is always there and more leverage to achieve their goals.

[Son Of Blockchain (SOB)]

Even when using the DCA strategy which will help investors accumulate asset, if one is not financially fit, they can’t be consistent. But someone who has money, good source of income or even multiple source of income can remain consistent in as much as they are disciplined, because the money is always there and more leverage to achieve their goals.

I know that some people have lots of responsibilities that hinder them from having more discretionary income for investment but someone mustn't be very financially okay to be consistent, even a low earner can be consistent too what matters is to properly manage their cash flow and put even if it's as little as possible consistently.
 With time the person can increase it when more is available for their discretionary income, although though with multiple source of income are at more advantage but that shouldn't discourage those with very little, remember that Bitcoin is for anyone that can generate discretionary income no matter how little.

[Victorybit1]

As long as you have a source of income then you can invest in bitcoin, the only category of people that cannot invest in bitcoin are those that don't have anything doing to generate income. No matter how small you think your capital is you can always use the DCA strategy to invest in it until you hit your target. Bitcoin is filled with lots of opportunities for those that can be patient enough there is a high chance of making profit in the long run.

[OsaiEmma]

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.

And yet there is priority placed on each transaction based on fees.

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.

True, Bitcoin is a risk asset, so I believe it will reward anyone willing to take risk and invest. But at the same time, it rewards based on the level of risk you take and the rich have more room for risk compared to the poor.

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.

Is this not proof that the way Bitcoin is structured will favor the rich more than the poor?

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?

I think the rich will hold on much longer. The rich have more reserved income that can weather whatever financial storm coming at them. They have more financial cushion and hedge so they won't easily succumb to the temptation of early sell-off. The poor on the other hand will sell-off early when in difficulty or when they see a dollar amount they haven't seen before.

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.

True! It doesn't discriminate based on inclusion, but it does based on profit making. More investment means more profit. But hey, that's just how life is.

I personally don't think Bitcoin is about rich or poor, I think it's about bettering your financial situation. If you want to make that comparison, the poor will be discouraged because the rich will displace them in terms of profit making. Just invest with patience and a good plan and you'll see profit that will somewhat improve your financial status.

[DubemIfedigbo001]

No, Bitcoin is not just for the rich. You can buy tiny pieces of a single coin. You do not need to buy a whole coin like example small amount like 10$ you can buy small part called satoshis or low cost 

For the record, satoshi s the smallest divisible unit of bitcoin. Even a whole BTC is measured in sats(1 BTC = 100 million sats), so whether you are buying parts or a whole bitcoin, you are bagging sats.

you can start with a very small amount of money open to all anyone with a phone and internet can use it bitcoin is real and truly investment where you can invest a little and start making profit as soon as you started

Wrong! There is no guarantee on this statement, bitcoin is volatile and can move below your entry point as soon as you invest. Bitcoin is not a get rich quick scheme. For better profitability, you should commit to holding for long (4 - 10 years or more). Getting into bitcoin with a quick money mindset mostly works against the investor and as such he may get emotional when the price retrace temporarily and even sell at a loss. Don't forget to invest only from your discretionary income and put into bitcoin what you can afford to loose because there is no guarantees.

[letteredhub]

Snip

Not only men, all genders cause men are not the only ones that should have a source of income, women do have their needs and shouldn't be fully dependent on a man to solve it, whether single or married women, and because Bitcoin isn't gender based is a good reason why women too should have steady flow of income to sustain their investment it.

Asides that, every other thing you’ve said is spot on cause being able to generate discretionary income is cool but making it sustainable is more better, which can be possible by having a good income flow.

You’re very correct, it’s not only men that are supposed to have a source of income. Women too need to also have their own source of income. Whether married or single, and it’s not good for women to depend fully on man to provide all their needs. Bitcoin doesn’t have to do with gender based, so women should also have a steady income that can help them sustain their investment.

 Just as you have said, having a discretionary income is a good thing but to make that income to be sustainable is also good. But it can only work if a person has a steady and reliable source of income.

Sunshine1525 and Queen uloma you two are not getting the context by "man" written up there, it's not confined to the male gender but man as in the way the philosopher Socrates would say "man knows thyself", it doesn't mean he's addressing it to the male genders alone. The making of money isn't exclusive to many alone, and just as you rightly explain, money isn't gender-centric so as a modern person I can't say women ain't meant to have sources of income and grow investments as much as they will

It was necessarily I clear the misunderstanding of the term "man" in this discuss. Maybe henceforth I would including the two genders to avoid this.

[liasbaa]

As long as you have a source of income then you can invest in bitcoin, the only category of people that cannot invest in bitcoin are those that don't have anything doing to generate income. No matter how small you think your capital is you can always use the DCA strategy to invest in it until you hit your target. Bitcoin is filled with lots of opportunities for those that can be patient enough there is a high chance of making profit in the long run.

I have a personal opinion. Bitcoin will not work well for those who expect to make a profit from it. The reason for this is that in the event of a price increase, some investors will be tempted to take profits because there is a possibility of touching ATH many times in the next 10 years and they will decide to sell repeatedly and some may sell for a small profit. Some investors will make this mistake but investors who implement a long term plan from Bitcoin will stick to their decision such as a full-fledged target of 4 years or 10 years.

It is easy to do long term DCA if you have a source of income but a person can hold Bitcoin with additional funds and they can also be determined to implement a long term plan. Sources of income can only lead you to a decrease in the average price by making it easier to compare and buying consistently. The target for Bitcoin should be 4-10 years or according to your financial capacity.

[Plutomanian]

As long as you have a source of income then you can invest in bitcoin, the only category of people that cannot invest in bitcoin are those that don't have anything doing to generate income. No matter how small you think your capital is you can always use the DCA strategy to invest in it until you hit your target. Bitcoin is filled with lots of opportunities for those that can be patient enough there is a high chance of making profit in the long run.

Bitcoin is for everyone and also not for everyone. Those people that have stable source of income can invest in Bitcoin without panic because they don't depend on Bitcoin to feed and provide the necessities they need, they have a well paying job and investing in Bitcoin is only to get another stream of income and these people usually do long-term investment with Bitcoin and not spot or short term investment.

Bitcoin is not only for the rich but also for those people that have a clue about Bitcoin, they know how this project operates and they're able to detect when the bull and bear season do sets in. Inother not to exaggerate, they know what they're doing and will continue to dominate the space with their strategies.

[AuchanX]

Bitcoin is for everyone and also not for everyone. Those people that have stable source of income can invest in Bitcoin without panic because they don't depend on Bitcoin to feed and provide the necessities they need, they have a well paying job and investing in Bitcoin is only to get another stream of income and these people usually do long-term investment with Bitcoin and not spot or short term investment.

Bitcoin is not only for the rich but also for those people that have a clue about Bitcoin, they know how this project operates and they're able to detect when the bull and bear season do sets in. Inother not to exaggerate, they know what they're doing and will continue to dominate the space with their strategies.

I agree with you, someone who has a lot of money but no idea about Bitcoin will not be able to invest. Someone who has an idea about Bitcoin but no source of income will also not be able to invest in Bitcoin. However, a person who knows about Bitcoin and has a source of income, then he can invest. Again, investing without understanding will not work, there should be a rule and discipline. If a person has discretionary income, that is, the money that he has in his hand other than his necessary money and that money does not come for any need, if he invests from that money, then he will be able to continue his investment well. And he should invest in such a way that he is not forced to sell Bitcoin in case of emergency.

[GIF-JOBS]

I think it depends on what you’re talking about, bitcoin is for everyone and not only for the rich, as long as you have a discretionary income you can always accumulate bitcoin, I think the most important thing we should consider is do we have a source of income, it’s only when we have a source of income, and then after taking care of all our needs then we can start buying bitcoin if we have figured out our discretionary .

bitcoin investment is meant for everyone especially when you have your money at home to invest, why some people feel that bitcoin investment is not for everybody it is because when the invest they will quickly want to make a profit from the Investment they recently invested, and that is why you see people like to use their discretionary income for invest in Bitcoin so that they will not be afraid of what they invested or they will not also be afraid of what they are willing lose for the investment, I think that the best thing to do is to invest what you can afford to lose

Actually, investing in Bitcoin is not a difficult thing, if you can accept the risk involved here correctly based on your financial situation, then you can invest in Bitcoin. However, you only need to be careful and learn about the general issues of Bitcoin, such as the price of Bitcoin can fluctuate a lot in the short term, so instead of thinking about quick profits, you need to move forward in the long term by maintaining long-term stability.
However, I agree that one thing is very important for everyone that you should not invest in Bitcoin with emergency money, borrowed money, or money needed for daily life. Because you have to hold your Bitcoin for the long term, but if you invest in Bitcoin with the money you need, you will never be able to keep your holdings for the long term, because as soon as you need them, you will be forced to sell your holdings, where you could actually suffer a large loss.

[Ever-young]

As long as you have a source of income then you can invest in bitcoin, the only category of people that cannot invest in bitcoin are those that don't have anything doing to generate income. No matter how small you think your capital is you can always use the DCA strategy to invest in it until you hit your target. Bitcoin is filled with lots of opportunities for those that can be patient enough there is a high chance of making profit in the long run.

That’s not entirely true. Yes, to invest in Bitcoin, one needs a source of income, but what is really required to invest in Bitcoin a discretionary income, because one may have an income but not a discretionary income. Discretionary income is what is left of your income after sorting out or taking care of all your necessary expenses. It’s like the disposable money left. And just because you have an income doesn’t guarantee that you’ll have anything left after sorting out your essential expenses. So if there’s nothing left from your income, then it means you’re not ready to invest in Bitcoin.