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Topic: bitcoin for everyone (Read 860 times)

full member
Activity: 546
Merit: 148
August 03, 2021, 05:17:43 PM
Adequate capital is required to use bitcoin there are many poor people who cannot afford to invest in bitcoin it depends on the people not just the holders.

More than the capital ample knowledge on how Cryptocurrency works is more important if you know how Cryptocurrency and its potential, you can do something to acquire capital to invest, I have a friend who after learning how Cryptocurrency works have set aside ten percent of his savings to building his portfolio and now he is doing great, he has made ten times profit from his portfolio and continues building up his portfolio.

There is a topic on the same board that says only the riches enjoy holding of bitcoin, it looks familiar to that.
Now the thing is, if one don't have another source of income, you can't enjoy investing. You can't invest when you are broke, it doesn't work that way. You may even be tempted to sell at every Little pump when you are suppose to hold for long time.
The summery is, one can only buy and hold if they have enough capital. You can't buy $200 worth of bitcoin and expect a huge profit.
newbie
Activity: 17
Merit: 0
August 03, 2021, 01:32:10 PM
i agree, guys. most of your points make sense and quite reasonable. there's no point to argue with the folks saying Bitcoin (at least at the moment) is money
Code:
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Any item or verifiable record that fulfils these functions can be considered as money.  | source: https://en.wikipedia.org/wiki/Money |
and money is not free.
but we, as a human being, tend to look in the future? right?
so, i believe ( "you may say i a dreamer, but i'm not the only one" ) that Bitcoin was not created just for the benefit of a few, or a particular group of people, or a particular country, or even a particular "billion", but for the benefit of the humanity as a whole.
do we really want to make it "my precious!"? do we really want to keep our individual freedom, censorship resistance and decentralization, granted us by Bitcoin, just for the benefit of our own, our families and friends and do not give a shit about rest of the world?
it kind of resemble situation with the covid. some countries do vaccinate their folks and do not give a shit about the rest of the world, but we are all linked one way or another.
well, let's look into the future:
* how we can make Bitcoin work for the benefit of all and not the few?
and the main question
* do we really want IT to do so?
hero member
Activity: 2366
Merit: 594
July 25, 2021, 02:18:48 AM
Equal distribution of bitcoin can't happen because everybody works for their money and its money there use in purchasing bitcoin, so it can't be equally distributed, we have the big investors and also the small ones, everybody buys according to what there can afford and you will agree with me not everyone has bitcoin, some can't afford it! That's the less privileged, why some hates bitcoin ignorantly and wouldn't want to invest in it so this shows some people aren't into this space.
right, bitcoin ownership is not evenly distributed, and there are still many people who don't even know about bitcoin. at least no matter how much money they have, they should be able to buy bitcoins, even if they don't have to be whole per one bitcoin. here we see the role of the government which seems to limit the movement of bitcoin, even though bitcoin will continue to grow in any situation

It's the same as giving money to people who are lazy and just sit around waiting for someone to give them money. Agree! Everyone should work, because we all know that the person who owns a bitcoin now did not buy it or own it easily; he/she worked hard for it, and it is an investment for him in the future. There will be a lot of against it if it is evenly distributed. I don't own a bitcoin, but if someone gave it to me, I would be grateful because I can get it easily, but the person who gave it to me worked hard for it to own it, so here I am just waiting for him to give me bitcoin, which is not good because someone worked hard and the other did not.
newbie
Activity: 6
Merit: 0
July 25, 2021, 12:03:21 AM
Indeed, not everyone can buy bitcoins, and in order to be able to work with it, you need to have at least some minimal knowledge to use it.
member
Activity: 770
Merit: 12
Trphy.io
July 24, 2021, 11:04:03 PM
Equal distribution of bitcoin can't happen because everybody works for their money and its money there use in purchasing bitcoin, so it can't be equally distributed, we have the big investors and also the small ones, everybody buys according to what there can afford and you will agree with me not everyone has bitcoin, some can't afford it! That's the less privileged, why some hates bitcoin ignorantly and wouldn't want to invest in it so this shows some people aren't into this space.
right, bitcoin ownership is not evenly distributed, and there are still many people who don't even know about bitcoin. at least no matter how much money they have, they should be able to buy bitcoins, even if they don't have to be whole per one bitcoin. here we see the role of the government which seems to limit the movement of bitcoin, even though bitcoin will continue to grow in any situation
full member
Activity: 463
Merit: 100
July 24, 2021, 10:34:36 PM
#99
Equal distribution of bitcoin can't happen because everybody works for their money and its money there use in purchasing bitcoin, so it can't be equally distributed, we have the big investors and also the small ones, everybody buys according to what there can afford and you will agree with me not everyone has bitcoin, some can't afford it! That's the less privileged, why some hates bitcoin ignorantly and wouldn't want to invest in it so this shows some people aren't into this space.
sr. member
Activity: 1414
Merit: 326
July 24, 2021, 10:34:22 PM
#98
Adequate capital is required to use bitcoin there are many poor people who cannot afford to invest in bitcoin it depends on the people not just the holders.

More than the capital ample knowledge on how Cryptocurrency works is more important if you know how Cryptocurrency and its potential, you can do something to acquire capital to invest, I have a friend who after learning how Cryptocurrency works have set aside ten percent of his savings to building his portfolio and now he is doing great, he has made ten times profit from his portfolio and continues building up his portfolio.
Investing in crypto requires both knowledge as well as capital you have a lot of knowledge about the crypto market but you can never invest without sufficient capital. Those who have succeeded in crypto have grown up with their own small capital using his intellect, he gradually increased the amount of capital.
member
Activity: 1358
Merit: 81
July 24, 2021, 05:14:39 PM
#97
Bitcoin for everyone. I see it in the following way if in a poor family at least one of its member is able to learn about bitcoin he or she could support her household. We all agree that bitcoin is empowerment, we already know the unemployment rates in any of our countries, let's think for a moment of them in the displaced, homeless people.

If they had the knowledge about bitcoin how to receive satoshi or earn it doing online jobs. It would be a big difference for their lives, they could have a better future because at birth we need to go through stages and overcome them and while the central power is not able to facilitate them we can think of bitcoin.
full member
Activity: 546
Merit: 148
July 24, 2021, 11:45:29 AM
#96
Bitcoin is really for everyone in which means that even the poorest can have a single amount of bitcoin in which they can buy over the wallets or exchangers and etc. This means that bitcoin is really for everyone and not only for rich people. Bitcoin stands for the people so they can acquire it anytime and anywhere in which it is very accessible.

It's seems you are only considering your own jurisdiction. You are not viewing the whole thing out of your environment.
Someone can be rich and be an illiterate and may be poor and still be. Literate. Its not everyone one that has no knowledge about bitcoin and to implement it, the nation need to know what they are using.
Now, what about those that didn't go to school and cannot read and write?
Have you considered places where there is no internet?
One of the qualities of money is to be simple, bitcoin might simple for an average literate but illiterate mind find it been complex.
We shouldn't compare bitcoin and fiat, they may possess some similarities but they aren't the same.
copper member
Activity: 168
Merit: 4
July 22, 2021, 11:12:07 AM
#95
everyone has a way of giving away some of their own money and not, and BTC is not free that is money and it is paid by many people to own it, but the problem you said is also quite interesting and I feel it too. have a little bit of the same opinion with you.
sr. member
Activity: 2366
Merit: 448
Enjoy 500% bonus + 70 FS
July 22, 2021, 10:52:26 AM
#94
Bitcoin is for everyone, and bitcoin will be true if held by the right people and have sufficient knowledge and understanding and will also be profitable which will make his life better financially.
and bitcoin will also make people suffer if it is held by people who do not have good knowledge and understanding of bitcoin, because they will accept losses.
and to have bitcoins you don't have to be rich or poor, as long as the person has the desire to keep trying and learn it well it will definitely be useful because there are many ways to get bitcoin for free even though it's not much but gradually and patiently it will become a lot and multiply.
sr. member
Activity: 1890
Merit: 252
The OGz Club
July 22, 2021, 07:44:30 AM
#93
Very true that Bitcoin is for everyone but mind you that if there is no in-depth knowledge about it before investing in it, then, it means you have planned to run loss at every of you invesent.
I don't really care about bitcoin for everyone or not because basically investing in cryptocurrencies especially bitcoin is not easy,
they have to be really knowledgeable and work hard to be able to make a profit,
because otherwise we will most likely lose money like you said
sr. member
Activity: 714
Merit: 250
July 22, 2021, 06:01:13 AM
#92
Very true that Bitcoin is for everyone but mind you that if there is no in-depth knowledge about it before investing in it, then, it means you have planned to run loss at every of you invesent.
Bitcoin is the most reputable and king of all coins in crypto world is most likely the front line in dealing newbie in crypto, but not all the time a newbie always loss because it all depends on how he/she take a research and study prior engaging in crypto. I believe investment only happen when someone buy his own btc from the market with his own wallet rather than investing money to someone using btc as a cover up of networking scam.
newbie
Activity: 28
Merit: 1
July 21, 2021, 05:53:07 PM
#91
Very true that Bitcoin is for everyone but mind you that if there is no in-depth knowledge about it before investing in it, then, it means you have planned to run loss at every of you invesent.
sr. member
Activity: 1274
Merit: 293
June 18, 2021, 08:59:42 AM
#90
we talked a lot in this thread about equal distribution/redistribution of bitcoin among people, its cons and pros. but if we look at bitcoin in general, it becomes quite obvious that bitcoin itself is kind of a tool of redistribution of wealth among people. there are a lot people who change their financial/social status thanks to bitcoin in particular and crypto in general.
can bitcoin become a universal mechanism of just and fair redistribution of wealth among Earth's population?
what are your thoughts about this?
* is it possible?
* is modern society ready for it?
* will it be accepted by people?
* will it provoke conflicts/wars?
* what qualities bitcoin have to acquire to become a mechanism of just redistribution of wealth? 
To answer every question, I would like to set an example, if bitcoin was used for unifying nations, just look at Babel Fish from the book Hitchhikers Guide to the Galaxy, it did made people understand each other but in the end it caused more wars than unifying the universe so given that it is a metaphor on how human creates war no matter what, I am pretty sure that bitcoin isn't the solution.
newbie
Activity: 17
Merit: 0
June 18, 2021, 07:56:42 AM
#89
we talked a lot in this thread about equal distribution/redistribution of bitcoin among people, its cons and pros. but if we look at bitcoin in general, it becomes quite obvious that bitcoin itself is kind of a tool of redistribution of wealth among people. there are a lot people who change their financial/social status thanks to bitcoin in particular and crypto in general.
can bitcoin become a universal mechanism of just and fair redistribution of wealth among Earth's population?
what are your thoughts about this?
* is it possible?
* is modern society ready for it?
* will it be accepted by people?
* will it provoke conflicts/wars?
* what qualities bitcoin have to acquire to become a mechanism of just redistribution of wealth? 
member
Activity: 560
Merit: 26
June 16, 2021, 05:27:24 PM
#88
Bitcoin is for everyone but I won't go with the contextual meaning you sighted equalizing it to the number of people we have in the world. Bitcoin is for all who see it as a means of investment and see a future with holding any amount. Bitcoin is not restricted to age, size, color, race it is for all sundry.

The same energy of hatred we exhibit towards some other form of investment ms settlement of debt, that's how some other people view bitcoin and cryptocurrency as a whole.
Do you know why many sticked to bitcoin, its because of of it inherent nature of gains that one can easily get otherwise, many wouldn't even think of bitcoin as investment twice.
hero member
Activity: 2814
Merit: 734
Bitcoin is GOD
June 16, 2021, 02:16:47 PM
#87
It's true that even poor people don't necessarily understand cryptocurrencies, especially bitcoin,
and I don't think poor people will think that far, of course they will think for themselves how to survive,
so even though some give free bitcoins of course they don't understand what to do with bitcoins
Try to give a poor guy bitcoin and for sure that he's going to do what it takes to understand it and what's the best thing to do it. Almost everybody got a signal for the internet to do simple search.

Don't just give him bitcoin but also try to make him understand what bitcoin is and what is the use of it for sure he will be curious to know then dig dipper information about bitcoin since if you just give it to them they will just sell it off and buy the amount what they get some certain goods for temporary survival.
I will argue against giving bitcoin to anyone that does not understand it, there have been many examples of this in the past and for the most part those people lost their coins, spend them as soon as they could and did not obtain any benefit out of it or got hacked and scammed and they lost those coins anyway.

So taking this into consideration the best we can do for those that do not know anything about bitcoin is to explain why this form of money is revolutionary, but I will give you just a warning, the number of people that can actually understand why something like bitcoin exists is very low as you need to know about economic principles in order to understand bitcoin which is a topic in which the majority are not interested.
hero member
Activity: 1582
Merit: 502
June 11, 2021, 11:29:21 AM
#86
*the post has been edited based on the reply in this topic as of 11 May 2021 22:00
some stat:
  * "the world population was estimated to have reached 7,800,000,000 people as of March 2020" (https://www.google.com/search?client=firefox-b-d&q=number+of+people+on+the+planet)
  * bitcoin current supply: 18,660,000;
    minus 3,700,000 ( "Around 3.7 million bitcoin, currently worth around $140 billion, appears to be permanently lost or stranded in disused digital wallets, US-based paper The New York Times reported Tuesday." / https://www.google.com/search?client=firefox-b-d&q=how+many+bitcoins+lost+forewer)
    total: 14,960,000

in case of equal distribution as of may 2021 (no worries, it won't happen): 14,960,000 / 7,800,000,000 = 0.0019179 btc per person / 191790 sat per person
with the current average price of $55,000 per BTC : 0.00221794*55000 = 105.48 $ per person;

now let's dream a little bit.


some more stat:
 * "The world's population is projected to reach 8.5 billion by 2030, 9.7 billion by 2050" (https://www.google.com/search?q=number+of+people+by+2030);

year 2050:

some if's and assumptions:
 *99.9% of population has access to electricity and internet;
 * robots almost ready to do all the dirtiest and manual work for humans;
 *humans do mostly intellectual work, craft, art, etc.; they still can do manual and dirty work though, but only if they want to;
 *energy is clean, unlimited and practically free;
 *bitcoin has matured and evolved, got strength and new qualities:
   - become easy and convenient to use, cheap (low/no fees) and fast (processing time);
   - stayed decentralized;
   - become capable of self-defence (developed a mechanism against manipulation and abuse of the system);
    - governed by users/holders (has different levels of voting systems and various electoral, autonomous bodies within the system that counterbalance and equilibrate each other to avoid corruption and abuse of power);
    - has a mechanism of suppression of unnecessary urge for greed and unreasonable enrichment (various fee in case one holding more than need or speculate);
    - stimulate trust, help and support for those who are in temporal difficulties (unforeseen circumstances, illness, etc);
    - has a mechanism of discouraging laziness and make no room for freeloaders (want a bite - do your part);

some more if's:
 * bitcoin current supply: 20,900,000;
  minus 3,700,000 ;
  total: 17,200,000;
 * bitcoin slowly has been redistributed to all people on the planet: big holders willingly and voluntarily sell their surplus of bitcoins to bitcoinless folks (it is not profitable and respectful anymore to hold more than you need);
   
remember the year is 2050:

17,200,000 / 9,700,000,000 = 0.00177319 btc per person / 177319 sat per person;
with the price goes up to $1,000,000 per BTC : 0.00177319*1000000 = 1,773.19 $ (but who cares about fiat in 2050?)

177319 sat per person / a golden standard / - an average living wage for a common citizen of the world;

SO. all we need is a mechanism of equal distribution of bitcoin among all people on Earth, BUT it has NOT to be on the base of forceable expropriation and equal redistribution. the mechanism has to be just, transparent, beneficial for everybody, stimulating trust and honesty, fighting greed, corruption and laziness.

Maybe this is a pretty interesting idea to study. It's just that the question is, does everyone understand what cryptocurrency is, what is bitcoin. Even in my country not many know what bitcoin is. So if this idea is poured in, there's still a lot that needs to be studied, in order to make it perfect.
full member
Activity: 1386
Merit: 101
ComboLabs
June 11, 2021, 06:19:28 AM
#85
Bitcoin is really for everyone in which means that even the poorest can have a single amount of bitcoin in which they can buy over the wallets or exchangers and etc. This means that bitcoin is really for everyone and not only for rich people. Bitcoin stands for the people so they can acquire it anytime and anywhere in which it is very accessible.
I don't think that bitcoin would suit those poorest, there is still no assurance to earn in cryptocurrency because of the volatility, so those poor people who only earn little amount of money which is only good for their daily needs, like food then I don't think that they are going to put their earning at the risk instead of buying it for foods. Yes bitcoin is for everyone but still we need to consider their status in life first, not all can afford to buy bitcoin and not all are willing to take a risk.
Although bitcoin is for everyone but that doesn't mean everyone can make a profit with bitcoin,
Besides that, the high risk is certainly not something that is easily accepted by everyone,
So I think everything has its own way
for those who understand the bitcoin market, of course they will feel comfortable making money here, but for those who do not understand bitcoin, and understand the risks of course prefer to leave it. and the most difficult thing when people only see someone's success with bitcoin, while they don't understand and want to get a lot of money in a short time, so the gambling begins
It's true, the reality is that they forget that someone who is successful here certainly takes a long time,
they even need to learn more about things related to cryptocurrencies,
so I think it's time to pay to be successful here
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