Bitcoin Can Take You From Poor to Rich and Rich to Poor.

[Johnlomape]

Bitcoin has created millionaires.

But Bitcoin has also destroyed fortunes.

Bitcoin is perhaps the only asset in modern history that allowed everyday people like students, developers, low income earners in developing countries to completely bypass traditional gatekeepers and build generational wealth from scratch.
https://www.forbes.com/sites/bishopjordan/2017/07/07/bitcoin-millionaire/?

True but people that are losing millions holding Bitcoin is due to their impatience or carelessness to buy and keep their Bitcoin in a wallet they have access to the seed phrase. Also majority that have lost their Bitcoin was due carelessness to keep their seed phrase safe from where it can not be accessed or hacked by someone else.

 The advise I used to give people when they want to invest in Bitcoin is to make sure that they keep their seed phrase safe and never keep their Bitcoin holdings on a centralized exchange. Lack of safety concerns can make an investor to lose their Bitcoin and it should be necessary for newbies to learn how to keep their wealth safe before ever investing in Bitcoin.

[SOKO-DEKE]

Some people lose money in Bitcoin, not because of anything else, but because they lack proper knowledge. This is what makes them make and take wrong decisions that lead to their losses.When someone is not patient enough and does not follow the right steps, they will definitely lose money in Bitcoin. Bitcoin is known for the long term, not the short term. Someone who is eager to make money easily will definitely end up trading, and we all know that trading is very risky. The chance of losing funds through trading is higher than making a profit, and the Bitcoin market is always very difficult to predict.It is a pattern: what someone puts into Bitcoin is what they will eventually receive. So, when people who are rich come into the crypto industry and lose their money through Bitcoin, it may be because of their approach.

[Sobz]

From the previous record bitcoin hasn't destroy any fortune or even make people poor but bitcoin has always been rewarding long time holdlers unless those who choose bitcoin to be a short time investment for them, trading bitcoin can make one losses their money this is where i can agree with you that bitcoin can make one loss their fortune.

If you are investing in BTC you shouldn't have it in mind that you are going to get rich because bitcoin doesn't guarantee this, and this mindset could also make one to invest outside there discretionary income and wouldn't be patience enough to hold for a long time while they may also likely to sell in lost, so i think this is the only way bitcoin can get one to be bankrupted.

It is the way people understand bitcoin that leads to the lose of one fortunes. If bitcoin is an asset and people invest in it and end up making profit by luck this is when bitcoin can be considered as an asset that people lose their fortune. The understanding of every individuals determines what they earn from bitcoin. If one understands bitcoin better their is good tendency of getting a better outcome from it and if the understanding one has is very shallow it can even make one to lose everything they have. People needs to develop a better understanding because this will make one yield good results.

[ZAINmalik75]

Holding Bitcoin depends on what you are doing, because if you trade at this moment, there is a high possibility that you will lose. Because Bitcoin not only helps the poor, but if you use it without any purpose, then you will face losses no matter who it is. However, holding Bitcoin for a long time will definitely be profitable and you will be able to build wealth, in this current situation you must follow different strategies to be profitable.
It is not a matter of being poor or rich, what we see is only the intention. The person who can hold Bitcoin for the right purpose and move forward towards the future, that person will be successful.

There are two things that I want to point out here.

The first one is that we need to understand what 'poor' means, because when we say or anyone says that Bitcoin and cryptocurrencies help the poor, that is actually a wrong statement, because a person who is poor will not have resources to they can use for making investments, and you can't make anything out of cryptocurrencies without doing that. So a person must at least have some resources to begin with, and if they do, they could be called middle-class or something, but not poor.

The second thing is, we need to stop saying that one can build wealth from Bitcoin or crypto investments, because this is also a wrong statement. An investor is only going to earn good profits from their investments in crypto, even if it's Bitcoin, but wealth is something else. Building wealth is only possible through businesses and stuff and not just making investments, unless you become lucky and that asset blasts all of a sudden, but we know that isn't possible with Bitcoin anymore.

[Ryu_Ar1]

We can't shift the focus only to bitcoin here because until any time bitcoin will only be an object and regardless of what happens it is entirely purely dependent on what we do and how we can use sophisticated technology like bitcoin properly and correctly.

It is not wrong with the argument that bitcoin can make us rich and all this depends on us who use it.
When someone becomes poor because of bitcoin does that signify bitcoin is wrong?  of course not because it indicates that the person still doesn't understand how bitcoin works and usually this situation occurs when they are too focused on pseudo-profits such as when they are lured into big profits from trading by influencers who offer classes or those who are tempted by profits without having to think about how fluctuations by giving their money and others who manage or in other cases they are too careless in storing seeds. It all comes back to the behavior that we do so in this case it all comes back to ourselves who run it because any sophisticated technology when the user is stupid everything will still be destroyed.