I can't judge your idea as wrong, because you have the freedom to control your investment structure, but I don't agree with it myself.
1. Many poor people buy houses, cars, jewelry, and many expensive items. These items are not cheap, and the more they rise, the more excited they are to buy, which leads to a lot of deterioration in their quality of life in order to repay their loans. And these things It's all a whole, and you must buy them all before you can go through the relevant procedures.In my opinion, the poorer the people, the more they should invest in Bitcoin.
2.Some fixed assets are not easy to sell, but Bitcoin is free to buy and sell, and there is a very active market.
3. If Bitcoin can rise to 500,000 U.S. dollars, the current 50,000 U.S. dollar one, it should be said that it is the price of cabbage.Do you still care if you buy it for $50,000 or $100,000?
I have gone through many detours on my own investment in cryptocurrency. In the end, the investment secret I summarized is, always buy, never sell, because in my opinion, Bitcoin is still in its infancy, and many products derived from Bitcoin have not yet Maturity, this is just the beginning.
Topic: If bitcoin go high the poor will not participate - page 10. (Read 1447 times)
I am thinking that if the bitcoin continue to go up to $100,000 and above. it will be expensive for the poor people to invest. It will be for only rich people. It will be better for bitcoin will not go so much high so that it will be affordable to everybody to invest and have profit.
I will like to read and learn for everyone here.
I will like to read and learn for everyone here.
Why thinking about buying a whole number if you can't afford? since for buying little by little you can have a balance for savings or maybe you can use it for other type of investment which you like to put your money on. Also price rise up is normal process so before all will go in good way and bitcoin still in cheap price then buy the price whatever value you want since for sure you will earn once you trade and do this things in good shape.
I am thinking that if the bitcoin continue to go up to $100,000 and above. it will be expensive for the poor people to invest. It will be for only rich people. It will be better for bitcoin will not go so much high so that it will be affordable to everybody to invest and have profit.
I will like to read and learn for everyone here.
I will like to read and learn for everyone here.
Incorrect statement! Bitcoin is highly divisible and you can purchase bitcoin worth even $1. So anyone including a college student can participate in bitcoin ecosystem without the need to having a huge amount of initial investment. 99% of the people in this forum don't own 1 full bitcoin till date. So there is no financial entry barrier for the poor people. Try to use any random exchanges in the crypto market, and experience that for yourself. So the pricing is not an excuse rather an opportunity.
I think whether to invest or not depends not on the price, but on whether or not to accept Bitcoin.
If the price drops, they will find an excuse to say that there is a downward trend, and the investment risk is too great. There are always a bunch of reasons not to invest in Bitcoin.
If the price drops, they will find an excuse to say that there is a downward trend, and the investment risk is too great. There are always a bunch of reasons not to invest in Bitcoin.
I am thinking that if the bitcoin continue to go up to $100,000 and above. it will be expensive for the poor people to invest. It will be for only rich people. It will be better for bitcoin will not go so much high so that it will be affordable to everybody to invest and have profit.
I thought the same back in late 2013/early 2014, when BTC was around ~1000 USD, that I was way too late, it was too expensive and I couldn't afford one whole Bitcoin so i tuned to alts (big mistake of course). But even if BTC drops to let's say 5K, I think majority of "poor" (I guess you mean ordinary) people would be scared to buy it as from my experience, Bitcoin was too expensive for them even when price was 80% lower than it is now. Worst thing about that perception of being too late for Bitcoin is that turns people towards shitcoins, like it happened to me.
Well, firstly you can buy fractions of BTC so "poor" will not be left behind. Secondly there are a lot of altcoins, and some of them are good and worth buying. So there will be place for everyone who want to invest and buy crypto.
Although we know that it is possible to buy only a fraction of BTC, I think that many see their possible investment in the context of the price of 1 BTC. No one disputes that it is possible to buy only $ 10 worth of BTC, but that is only 0.00020300 BTC, which at some points may not be enough to pay a transaction fee.
We can’t escape the fact that Bitcoin is becoming something that becomes available to the rich (when we talk about quantities) because they can afford to buy it no matter the price. If their interest continues to grow, I have no doubt that the vast majority of BTC will end up in their wallets because ordinary people will sooner or later decide to sell - let's face it, most are only there for profit.
We can’t escape the fact that Bitcoin is becoming something that becomes available to the rich (when we talk about quantities) because they can afford to buy it no matter the price. If their interest continues to grow, I have no doubt that the vast majority of BTC will end up in their wallets because ordinary people will sooner or later decide to sell - let's face it, most are only there for profit.
For me, no matter how high the price of bitcoin depends on the intention and belief in bitcoin and to buy bitcoin there is no price benchmark to buy it and we can buy according to our abilities and without having to force the situation.
and you can buy in small quantities as per your means and from your extra cash, do it gradually and if you do this regularly and discipline your bitcoins will grow and HODL for the long term, and to enjoy nice profits.
bitcoin is for everyone and it all depends on how we manage it well and strong patience to achieve good profit.
and you can buy in small quantities as per your means and from your extra cash, do it gradually and if you do this regularly and discipline your bitcoins will grow and HODL for the long term, and to enjoy nice profits.
bitcoin is for everyone and it all depends on how we manage it well and strong patience to achieve good profit.
I am thinking that if the bitcoin continue to go up to $100,000 and above. it will be expensive for the poor people to invest. It will be for only rich people. It will be better for bitcoin will not go so much high so that it will be affordable to everybody to invest and have profit.
I will like to read and learn for everyone here.
That's wrong mindset to begin with, if that is yours then you wouldn't earn any satoshi because the price keeps going up. And remember that's what others have said in 2017, it's too expensive when it hit $5k, but look at the price right now. Or even when the pandemic strikes, it's about $3k and people are saying that they can't afford it. You can just small portions and then continue to accumulate whenever you can. No need to immediately buy 1 BTC. I will like to read and learn for everyone here.
It's not necessary that someone will have up to finance that Worth hundred thousand dollars ($100,000) or 1 btc money before adventuring into bitcoin investment, i think that's wrong perception via investment, we invest according to our capital, because theirs no stipulated amount enshrined for buying or purchasing of bitcoin, and irrespective of market volatility of bitcoin the poorest person who are inquisitive to have btc will Never find it difficult to have crypto.... At this point of high price of BTC what we really need is to think big and start small
I like the angle you are reasoning from. I would not say it is faulty, but you have to understand this. The unit of bitcoin is Satoshi and not $.
The higher the bitcoin price, the more value 1 sat will have.
So, both the rich and the poor will benefit no matter how high bitcoin climbs. It's just like saying, because there is $100,000 it means $1 is valueless.
The point of worry should be how early you enter this space and which position you occupy. Do not worry about the price.
In the other hand if bitcoin price crashes and continue to crash, will it favour the poor then? I guess know your answer.
The higher the bitcoin price, the more value 1 sat will have.
So, both the rich and the poor will benefit no matter how high bitcoin climbs. It's just like saying, because there is $100,000 it means $1 is valueless.
The point of worry should be how early you enter this space and which position you occupy. Do not worry about the price.
In the other hand if bitcoin price crashes and continue to crash, will it favour the poor then? I guess know your answer.
As others have said, no one is forcing anyone to actually buy a whole Bitcoin. Investors can buy close to any amount they want, as long as the exchange supports said amount. Afaik, exchanges don't have strict rules about how little one can buy, and I hardly doubt that even if Bitcoin increases in price, the minimum requirement (if exchanges do indeed have one) would increase since it should be a static value. And besides, if Bitcoin didn't actually increase in price, it's value as an investment would drop and I highly doubt people wanting to invest would still be interested then.
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I’d doubt that many street level ordinary folks are currently able to depart with the current 50K $ to by a whole bitcoin (let alone a couple). Nevertheless, demand is still there, and that’s because people purchase fractions of it. This is a likely misconception made by more people than we think.Although there is no direct assured inference from this following link, just over 2% of bitcoin addresses hold 1 or more bitcoins: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html
Bear in mind that people way easily have more than one address, and addresses may belong to multiple people in some cases (i.e. Exchange addresses).
The bitcoin price is way too high but it doesn't mean we need to buy 1 whole bitcoin. We can buy just a portion of it and still be able to get a profit. It will all depend on how good we are in trading and investing. Investing in the amount we can only a lot help us to have bitcoin and maybe will let us have more bitcoin if we know how to trade or probably when the price is high.
What you say is a mistake, but a common one. Just a few months ago I was talking to a friend about investments and I told him that for me the best investment is Bitcoin. He told me no, because it was too expensive at $30K. I'm going to remind him of that all my life, especially when I get to $300K, $1M and $3M.
Even if 1 whole Bitcoin is expensive, 1 Bitcoin is equivalent to 100 million Satoshis and it's worth buying what you can because we are still early in the S-curve, and with the intrinsic properties that Bitcoin has (decentralization, limit to suppy, etc) it's still going to go way up in price.
The richest are realizing it now and that's why they are buying. It would be a blunder for people in more modest economies not to buy Bitcoin because they think it is expensive. This would really widen the gap between rich and poor even more.
You have the opportunity to participate in the largest large-scale transfer of wealth in human history.
Even if 1 whole Bitcoin is expensive, 1 Bitcoin is equivalent to 100 million Satoshis and it's worth buying what you can because we are still early in the S-curve, and with the intrinsic properties that Bitcoin has (decentralization, limit to suppy, etc) it's still going to go way up in price.
The richest are realizing it now and that's why they are buying. It would be a blunder for people in more modest economies not to buy Bitcoin because they think it is expensive. This would really widen the gap between rich and poor even more.
You have the opportunity to participate in the largest large-scale transfer of wealth in human history.
I am thinking that if the bitcoin continue to go up to $100,000 and above. it will be expensive for the poor people to invest. It will be for only rich people. It will be better for bitcoin will not go so much high so that it will be affordable to everybody to invest and have profit.
I will like to read and learn for everyone here.
I will like to read and learn for everyone here.
You don't need to buy a whole Bitcoin, you can buy as little as 1$ if you want
Nobody is left behind when we talk about crypto.
I am thinking that if the bitcoin continue to go up to $100,000 and above. it will be expensive for the poor people to invest. It will be for only rich people. It will be better for bitcoin will not go so much high so that it will be affordable to everybody to invest and have profit.
I will like to read and learn for everyone here.
I will like to read and learn for everyone here.
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