Why do we feel that bitcoin investment is only for rich people?

[AYIMAN]

Well,me as an individual l do not support that concept that bitcoin investment is for only rich people.
One thing l believe in business generally is mind set. While some persons may be interested in investing in bitcoin,there are also persons that  may not want to even talk about bitcoin because of the high risk involved.

When l talk about the risks involved, l mean scammers, fraud etc.
So it doesn't matter wether you are rich or poor, any body can be scammed or defrauded.

It is true that the value of bitcoin has gone up to the point that every body now thinks that bitcoin investment is only for the rich alone. I will still say it is not true because proper planning matters.

First of all,mind set and then adequate plann.....if these things are put together trust me any body can invest in bitcoin despite your status of being rich or poor.

[DubemIfedigbo001]

Well,me as an individual l do not support that concept that bitcoin investment is for only rich people.
One thing l believe in business generally is mind set. While some persons may be interested in investing in bitcoin,there are also persons that  may not want to even talk about bitcoin because of the high risk involved.

When l talk about the risks involved, l mean scammers, fraud etc.
So it doesn't matter wether you are rich or poor, any body can be scammed or defrauded.

Scammers are evrywhere,. Not only in bitcoin. You need to employ good security measures to safeguard your coins.

• Do not us a hot wallet or a CEX for your main holdings
• Do not connect your main wallet to any third party site or app
• Use hardware wallet or cold storage, or even both for increased security of your coins
• You should store your seed phrase safely offline
• Use only open-source non-custodial wallets for your main holdings, e.g Electrum,. Blue wallet, Sparrow e.t.c
• Always get wallet apps from the official website and be sure to verify it's digital signatures if any

It is true that the value of bitcoin has gone up to the point that every body now thinks that bitcoin investment is only for the rich alone. I will still say it is not true because proper planning matters.

Bitcoin investment in not only for the rich. The poor can still benefit from it's divisibility and accumulate sats. You must not buy a full bitcoin at once, you can use the DCA strategy to continuously accumulate bitcoin over a longer period of time and still get a descent portfolio of bitcoin for yourself.

[Barikui1]

Well,me as an individual l do not support that concept that bitcoin investment is for only rich people.
One thing l believe in business generally is mind set. While some persons may be interested in investing in bitcoin,there are also persons that  may not want to even talk about bitcoin because of the high risk involved.

When l talk about the risks involved, l mean scammers, fraud etc.
So it doesn't matter wether you are rich or poor, any body can be scammed or defrauded.

It is true that the value of bitcoin has gone up to the point that every body now thinks that bitcoin investment is only for the rich alone. I will still say it is not true because proper planning matters.

First of all,mind set and then adequate plann.....if these things are put together trust me any body can invest in bitcoin despite your status of being rich or poor.

Their is already a topic like this,
https://bitcointalk.org/index.php?topic=5558610.msg65788387#msg65788387

so I adviced that you lock it, and take any further conversation you have in mind there, or it may be nuke by the moderator.

[Inior]

Well,me as an individual l do not support that concept that bitcoin investment is for only rich people.
One thing l believe in business generally is mind set. While some persons may be interested in investing in bitcoin,there are also persons that  may not want to even talk about bitcoin because of the high risk involved.

When l talk about the risks involved, l mean scammers, fraud etc.
So it doesn't matter wether you are rich or poor, any body can be scammed or defrauded.

It is true that the value of bitcoin has gone up to the point that every body now thinks that bitcoin investment is only for the rich alone. I will still say it is not true because proper planning matters.

First of all,mind set and then adequate plann.....if these things are put together trust me any body can invest in bitcoin despite your status of being rich or poor.

Falling to the hands of scammers or hackers isn't about being poor or rich, if you leave you tracks exposed to an extent they might gain access to your wallet and send you bitcoin out of your reach. Therefore it's our sole duty to secure our bitcoin by using the right method, no cloud storage or keeping your seed phrase careless.... every bitcoin must know how to secure their wallet else there is no need to start holding or saving bitcoin, your wallet security is the most important thing as far as cryptocurrency is concerned.

I advice you edit you topic(at least it should be realted to fraud) so it doesn't look like spamming

[IceLincoln]

Well,me as an individual l do not support that concept that bitcoin investment is for only rich people.
One thing l believe in business generally is mind set. While some persons may be interested in investing in bitcoin,there are also persons that  may not want to even talk about bitcoin because of the high risk involved.

When l talk about the risks involved, l mean scammers, fraud etc.
So it doesn't matter wether you are rich or poor, any body can be scammed or defrauded.

It is true that the value of bitcoin has gone up to the point that every body now thinks that bitcoin investment is only for the rich alone. I will still say it is not true because proper planning matters.

First of all,mind set and then adequate plann.....if these things are put together trust me any body can invest in bitcoin despite your status of being rich or poor.

This concept you are talking of is only carried out by newbies and people who don’t know shit about bitcoin, and maybe some people who are not patient enough and tend to dabble in altcoins would want to use that as an excuse or justification.
Bitcoin was built in such a way that you can own the least satoshi whether rich or poor you can access and purchase it if you want.

[Loyang]

Anyone who thinks that Bitcoin investment is only for the rich may be suffering from a lack of knowledge. Because if he had been aware of the Bitcoin investment method and the method of continuously buying Bitcoin, he might never have thought that Bitcoin is only for the rich. A person with a very small income can invest in Bitcoin using the DCA method. If a person has a discretionary income of $10 per month or week, he can invest with that discretionary income.

[B-BossMan]

Anyone who thinks that Bitcoin investment is only for the rich may be suffering from a lack of knowledge. Because if he had been aware of the Bitcoin investment method and the method of continuously buying Bitcoin, he might never have thought that Bitcoin is only for the rich. A person with a very small income can invest in Bitcoin using the DCA method. If a person has a discretionary income of $10 per month or week, he can invest with that discretionary income.

Good of you dude. This are the repeated statements i used to hear that makes me feel sad and angry sometimes, if really the bitcoin are for the rich people only, how would the less prevelage survive on this earth, it's never for once said by anyone that bitcoin investment are meant for only the rich ones alone. Even if you don't have enough money and you want to invest in Bitcoin then make use of Dollar-Cost Averaging, by investing small amounts gradually over a period of time, than to deceiving ourselves or throw a fouls statement that won't benefit them in future. Newbies should encourage themselves on taking a good steps ahead than saying Bitcoin investment is for the rich ones.

[Yablee0]

Anyone who thinks that Bitcoin investment is only for the rich may be suffering from a lack of knowledge. Because if he had been aware of the Bitcoin investment method and the method of continuously buying Bitcoin, he might never have thought that Bitcoin is only for the rich. A person with a very small income can invest in Bitcoin using the DCA method. If a person has a discretionary income of $10 per month or week, he can invest with that discretionary income.

Most of the people dwelling in such mentality that Bitcoin is only for the rich are people that always have one excuse or the other to give  for their failures, they are very good in giving crazy excuses for their inability of taking advantage of opportunity when available, and those set of person's shouldn't be taking serious if you ask me. Bitcoin investment is not for a specific class of people, perhaps it's for everybody as long as you can be able to figure out your discretionary funds out of your little earnings you're good to go. And also, the dca method is there to help you buy or invest in your convenience time, it's just for you to be consistent in accumulating and stay discipline and you see things going smoothly.

[Hewlet]

First of all,mind set and then adequate plann.....if these things are put together trust me any body can invest in bitcoin despite your status of being rich or poor.

When it comes to investment of any kind, the rich has a greater advantage over the poor and in some way, even in bitcoin investment, they are still in the position to invest an higher amount and gain from it above the regular not so rich investor that can only put in a small amount until his portfolio at a time.

With strategy like buying with the use of the DCA method available, no matter your financial class, you can equally invest well even though you might not be too rich. The people we call the rich though financially strong still face challenges just like us both must of them always see things from the winning end and so regardless of what's happening, they keep investing and never see themselves going down. Such mentality is what can transform a not so rich investor to a richer person.

[Dareo]

-snip-

The thing is, in reality the risk taking situation of the rich and ordinary people is not the same. If a rich person makes a mistake, he can handle it, but if an ordinary person falls into a scam, it becomes a huge loss for him, So I think just talking about mentality does not explain the whole thing. Yes you can start small, it is important to plan but you also need to keep the real situation in mind. Bitcoin is open to everyone but it is equally easy for everyone that is not right.

[Felicity_Tide]

~snip

First of all,mind set and then adequate plann.....if these things are put together trust me any body can invest in bitcoin despite your status of being rich or poor.

I would prefer not to use financial status as a comparison, especially in a country like ours.
Yes, everyone can invest in Bitcoin because it is not a rocket science nor a complicated task. But due to the difference in financial capabilities, the results for both class of people can never be the same. This is Nigeria where a hand to mouth lifestyle is very common, and I believe you understand what I mean by "hand to mouth". Infact, what most people do for a living is just surviving. Let's leave the different classes of people aside, and just assume that every investor needs to put in effort in whatever they're inputting. Of course, effort can varies, but it just have to be a decent one.

[Obim34]

Well,me as an individual l do not support that concept that bitcoin investment is for only rich people.

I haven't heard someone say that, not here in the forum.

Whoever support the concept of Bitcoin belonging only to the wealthy, don't understand Bitcoin entirely.

If Bitcoin was somehow to be centralized, following how profitable it is from time to time, probably those in control would have restricted Bitcoin to a few high profiled individuals, but that is not how it is, Bitcoin was built on a public ledger, everyone can have access to it, not minding individual status.

[Fiatless]

It took some people months of hard labour to save money for investment. This set of people will be scared to take risks because they don't want to lose money. Let me also add that some people are not natural risk takers, so they do everything to avoid risk. The set of people will avoid Bitcoin because they see it as too risky. They might even choose to invest in less risky ventures like fixed deposits or treasury bills.

Another reason why some people feel that Bitcoin is for the rich is ignorance. They are not aware that one can buy Bitcoin in bits. So they assume that you would have to gather the sum for one Bitcoin before you would be able to own it.

[TokenTikas]

It is true that the value of bitcoin has gone up to the point that every body now thinks that bitcoin investment is only for the rich alone. I will still say it is not true because proper planning matters.

Bitcoin was designed in a way that allows anyone to buy it from any location. Someone with a small amount can buy a little, while someone with more funds can buy more. It is open to everyone and it does not consider whether a person is rich or poor because it works the same for all. If you look closely, there are many opinions about bitcoin but there is no real difficulty when it comes to buying it. You can choose to invest little by little or even maintain a (DCA) approach and all of that depends on your own decision. Bitcoin has created a good opportunity for us, as it allows people at any level to take part and invest.

If you take a close look at the journey of bitcoin from the beginning up to now, you will be able to understand its full background and how it has developed over time. From its history, it is clear that bitcoin is open to everyone and anyone can buy any amount of it at any time, no matter their situation or location.

[EluguHcman]

Well,me as an individual l do not support that concept that bitcoin investment is for only rich people.
One thing l believe in business generally is mind set. While some persons may be interested in investing in bitcoin,there are also persons that  may not want to even talk about bitcoin because of the high risk involved.

Bitcoin investment has it psychological manipulation forces which risks can not be handled by every individuals or investors.
It is obvious that as the investment differs in their economy ecosystems, so as the risk differs, every investors are shaped to adopt investing on not just the one they have devotes interest for nor the hyping of the assets but chooses that one they are convinced to trust.

Don't blame those who don't invest on Bitcoin because them too maybe investing where a Bitcoin investor can not invest due to risks differences that is only bound to be affordable where their risk levels can bear.
Moreover there are also rich people who are scared to buy Bitcoin not because of the price but because of regulations policy who may not be encouraging for public adopt and also the risk of volatilities.

So may be comfortable to invest just in stocks. Bitcoin is a digital investment scheme and still on mainstream for broader adoption.
Lack of proper education could also cause a slack to discourage adoption.

[Itz-prisigold]

I believe most people don't consider how easy it is to start investing in Bitcoin. With Bitcoin,  you can start investing even if you have a small amount of money since you can buy in fractions. The reason why people may believe investing is only for rich people is based on how expensive a full Bitcoin is,  people do not take into consideration how flexible investing can be and that you can start even with whatever you can afford.  To me, I think it is more about consistency than the capital,  someone can invest small amounts of money regularly over a long period of time, and you can still build up something meaningful.

I believe the knowledge is more important than wealth.  Many people stay away from Bitcoin not because they can't afford it,  but because they do not know what's going on or how it works. Once you learn the basics and gain the knowledge,  Bitcoin becomes less intimidating and when you understand the basics, knowing how to secure your money and how to avoid the mistakes that most people make Bitcoin investing becomes more practical.

I believe investing in Bitcoin is more about discipline than it's about money,  while the amount of money you have may determine how quickly your investments grow,  but your investments will not grow at all if you do not have the right habits and make the right decisions.

[Jubilee58]

Well,me as an individual l do not support that concept that bitcoin investment is for only rich people.
One thing l believe in business generally is mind set. While some persons may be interested in investing in bitcoin,there are also persons that  may not want to even talk about bitcoin because of the high risk involved.

When l talk about the risks involved, l mean scammers, fraud etc.
So it doesn't matter wether you are rich or poor, any body can be scammed or defrauded.

It is true that the value of bitcoin has gone up to the point that every body now thinks that bitcoin investment is only for the rich alone. I will still say it is not true because proper planning matters.

First of all,mind set and then adequate plann.....if these things are put together trust me any body can invest in bitcoin despite your status of being rich or poor.

One thing that discourages some people from investing in bitcoin is that, they feel the price of bitcoin is too high and therefore, since they cannot afford to buy a whole Bitcoin, they now conclude that Bitcoin is for the rich people.
I think people with this kind of thoughts are novis concerning bitcoin investing and should be enlightened how bitcoin investing works and who can invest in bitcoin.
Particularly myself, I have taught that way before,  but guidelines made me to understand I can buy bitcoin in fractions.

Every investment involves risk, and whoever that fail to invest in bitcoin claiming it is a risky investment is not ready to gain financial freedom and stability. Bitcoin investing has a method and once the right method is used you will never regret it and the right method is long term investing. If only you can be patient with your bitcoin and ignore any short term price fluctuation, you will surely reap a good reward on the long run.

[Cryptomultiplier]

On a contrary, I think Bitcoin is for the rich. One has to be rich in the sense that they can earn, pay bills and have some funds aside for savings or investments, otherwise, having the knowledge of Bitcoin alone is just a tip of the iceberg.
Money makes ideas work or better put, having a source of income makes ideas comes to live.

So the knowledge of Bitcoin is important, the funds to invest is important and the wisdom to invest properly and keep the investment safe from scam and hackers and policies that may cause freeze of asset, is what makes a Bitcoin investor succeed in their investment plan.

[Asiska02]

When l talk about the risks involved, l mean scammers, fraud etc.
So it doesn't matter wether you are rich or poor, any body can be scammed or defrauded.

It is true that the value of bitcoin has gone up to the point that every body now thinks that bitcoin investment is only for the rich alone. I will still say it is not true because proper planning matters.

The value of Bitcoin has gone up but yet one can actually by in lower value of Satoshi’s which makes the whole Bitcoin concept inclusive to all and not secluded to rich people only. Bitcoin is a very powerful investment and at the same a profitable seeing from the inception of it till now, so it definitely looks something worth trying to invest into even for the not too rich people that are in the bitcoin space. Using scammers as an excuse not to invest, then makes one a vulnerable person because all this can be avoided when planned well.

[Makus]

Anyone that has such an idea or mentality about Bitcoin wouldn't be able to invest in it because Bitcoin isn't really built or designed specifically for rich people even though they have more advantages of making profits from it effortlessly due to their financial capabilities but giving yourself this excuse and holding back or not making any move to invest because you are financially stable will keep you static for a long time. Bitcoin isn't something that only rich people invest in, for people that don't have enough they can buy when the price is low and use DCA to keep on accumulating