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Topic: Bitcoin Poor - page 2. (Read 2031 times)

hero member
Activity: 528
Merit: 527
November 26, 2013, 03:26:18 PM
#1
A long time ago, there was this saying called "property poor". It referred to someone that had like a million dollars worth of property, but barely had enough cash flow to make their mortgage payments. They might even have a slight negative cash flow, but held on waiting for inflation and rising rents to turn things around. Eventually, many years later they were very well off.

Anyway, I know at least one person that has a double digit number of bitcoins, yet is homeless. Another is surviving off of food stamps and sub-minimum wage jobs. All are hanging on to their bitcoins for dear life. It is their ticket to economic salvation.

I would loosely term anyone as being "Bitcoin Poor" if they have over a dozen bitcoins, but the rest of their assets are less than $1000 and they are barely surviving.

Anyway, just wondering how common this phenomenon is in the Bitcoin community. A couple of us locals were talking about this subject recently.
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