Is bitcoin becoming out of reach on Common Man - page 4.

The Sceptical Chymist

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Quote from: European Central Bank on May 11, 2017, 10:05:27 AM

the common man will be the very last man on board no matter what happens. he's had years but if he can't recognise the value then that's his problem.

at some point bitcoin's main unit of measurement will change, or it really should for practical reasons. then it'll look like a bargain again to people who ain't too bright.

Just like to say that when the common man jumps on board after reading about the big bull market, we are then fucked. It's going to be like baseball cards, comic books, and beanie babies in the 1990s. But this money has to be coming from somewhere. Maybe joe blow and suzie shitbox have already started up the pig pile.

megashira1

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Bitcoin for the common man is no different today than it was 6 years ago. You just get lower denomination for the same amount of fiat. Common man loses out on nothing.

LFC_Bitcoin

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Who cares? I don't & neither should any of you. We're all invested already or should be. We're some of the lucky people like the early .com investors in the www. Boom.

HODL what you own & reap the rewards in a few years.

Tyrantt

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Need some spare btc for a new PC

absolutely not, 100$ is 100$ not it can be 50BTC or 0.1 bitcoin, it's still 100$. I can surely say that bitcoin is getting closer to the general public, more every day.

johnwest

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Quote from: salmanahmedone on May 11, 2017, 10:38:22 AM

Quote from: lite on May 11, 2017, 10:32:31 AM

Quote from: taxmanmt5 on May 11, 2017, 10:02:09 AM

Just see the bitcoin price climbing so high. 1900$ is a very high amount and not many people can now afford to buy a single bitcoin. Also those who are earning bitcoin will now get less bitcoins like before some pay you 10$ it was 0.01 and not it is just 0.005 (same 10$).

In short, Will bitcoin will only be in the hands of rich in near future ?

No, not true. folks with low income/less money can always buy small amount of bitcoin, like 500 mBTC. bitcoin is for all rich or poor.

i still buy but small amounts.

Yes everyone can buy bitcoins no matter how high the bitcoin price maybe. Even if 1 sat reaches 1$, many can still buy Satoshi. So this is the beauty of this currency that it can be broken down until 8 decimal places Grin

You dont have to have a full BTC, even having lots of Satoshi's can make you rich. Yes, 1 Satoshi may reach 1$ price one day and we can have nearly anything we want.

Kprawn

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You know, in future 1 Satoshi might be worth $1 and you can buy loads of Satoshi's now with $1. I always think of the time when Gavin had a

faucet that paid out 1 or even 2 bitcoins and it was basically worth a few cents at the time. Look at where we are now. Grin

...We do not know where

this is going, but if you have ZERO bitcoins or even a few Satoshi's when this thing goes to the Moon... you would regret it your whole life. Wink

salmanahmedone

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Quote from: lite on May 11, 2017, 10:32:31 AM

Quote from: taxmanmt5 on May 11, 2017, 10:02:09 AM

Just see the bitcoin price climbing so high. 1900$ is a very high amount and not many people can now afford to buy a single bitcoin. Also those who are earning bitcoin will now get less bitcoins like before some pay you 10$ it was 0.01 and not it is just 0.005 (same 10$).

In short, Will bitcoin will only be in the hands of rich in near future ?

No, not true. folks with low income/less money can always buy small amount of bitcoin, like 500 mBTC. bitcoin is for all rich or poor.

i still buy but small amounts.

Yes everyone can buy bitcoins no matter how high the bitcoin price maybe. Even if 1 sat reaches 1$, many can still buy Satoshi. So this is the beauty of this currency that it can be broken down until 8 decimal places Grin

pecson134

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It is not necessarily ''out of reach'' for a common man as you stated. I am also a common man earning a decent amount of bitcoins. Time will come I will reach 1 bitcoins and I just need to spend less and earn more just to achieve this goal.It is just how eager you are to earn bitcoins in every ways possible without being choosy on what you want to do.

lite

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Quote from: taxmanmt5 on May 11, 2017, 10:02:09 AM

Just see the bitcoin price climbing so high. 1900$ is a very high amount and not many people can now afford to buy a single bitcoin. Also those who are earning bitcoin will now get less bitcoins like before some pay you 10$ it was 0.01 and not it is just 0.005 (same 10$).

In short, Will bitcoin will only be in the hands of rich in near future ?

No, not true. folks with low income/less money can always buy small amount of bitcoin, like 500 mBTC. bitcoin is for all rich or poor.

i still buy but small amounts.

webtricks

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Quote from: taxmanmt5 on May 11, 2017, 10:02:09 AM

Just see the bitcoin price climbing so high. 1900$ is a very high amount and not many people can now afford to buy a single bitcoin. Also those who are earning bitcoin will now get less bitcoins like before some pay you 10$ it was 0.01 and not it is just 0.005 (same 10$).

In short, Will bitcoin will only be in the hands of rich in near future ?

Lol! If you consider someone 'common' from the fiat money point of view then how can you consider them 'poor' if they can now afford 0.05 btc as compared to 0.1 btc eariler because if taken in fiat money, they worth same.
So you need not worry, no one gonna judge someone rich or poor if he doesn't have 1 BTC. Moreover to me 0.01 BTC is more standard unit for btc than 1 BTC.

taxmanmt5

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Quote from: Daniel91 on May 11, 2017, 10:19:57 AM

Quote from: taxmanmt5 on May 11, 2017, 10:02:09 AM

Just see the bitcoin price climbing so high. 1900$ is a very high amount and not many people can now afford to buy a single bitcoin. Also those who are earning bitcoin will now get less bitcoins like before some pay you 10$ it was 0.01 and not it is just 0.005 (same 10$).

In short, Will bitcoin will only be in the hands of rich in near future ?

I don't think so, really.
You see, we have many different ways to get bitcoin, not just by buying in the market.
You can trade, gamble, play casino, join HYIP etc.
If you don't like risk, you can work for your bitcoin, as freelancer (if you have some skills like programming) or simple by collecting faucets or writing fort signature campaigns.
I think that still many people will be able to collect bitcoins, but just in different way.

Thats is also what i have tried to explain. Lets suppose you provide a service to some one for 100$ in bitcoin and he paid you 0.1 two months before.
Now if you do same 100$ work now, you will get only 0.05.
Whats if after few years you do work of 100$ and you will only get 0.01.

So getting bitcoin will be harder to get day by day.

KuromaYoichi

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Quote from: taxmanmt5 on May 11, 2017, 10:02:09 AM

Just see the bitcoin price climbing so high. 1900$ is a very high amount and not many people can now afford to buy a single bitcoin. Also those who are earning bitcoin will now get less bitcoins like before some pay you 10$ it was 0.01 and not it is just 0.005 (same 10$).

In short, Will bitcoin will only be in the hands of rich in near future ?

No, because nobody is forcing you to buy 1 whole bitcoin. You can just buy BTC0,1 or even BTC0,01. So even the poor can buy bitcoin and i will never be out of their reach. Maybe in some years the bitcoin value will increase so much that we will start using satoshi.

cellard

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Quote from: taxmanmt5 on May 11, 2017, 10:02:09 AM

Just see the bitcoin price climbing so high. 1900$ is a very high amount and not many people can now afford to buy a single bitcoin. Also those who are earning bitcoin will now get less bitcoins like before some pay you 10$ it was 0.01 and not it is just 0.005 (same 10$).

In short, Will bitcoin will only be in the hands of rich in near future ?

Yes, buying an entire BTC becoming harder goes within the package. What did you expect? Owning 1 BTC has to be something specially because there will be 21 million ever. Count the amount of people in the world and do the math. It's obvious sooner or later 1 BTC owners will be part of an elite of holders.

This doesn't mean anyone can buy smaller amounts.

It's like claiming gold is out of reach of the common man because the common man can't buy 1 ton of gold.

swogerino

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It is not out of reach of the "common man". The beauty of bitcoin is that you can buy very little amount usually 10-25 dollars to online exchanges and hold it. Many people have learned only how to keep their bitcoins safe,are not tech savvy and are focusing on buying 5-10% of their monthly salary every month and holding it. I am trying to copy them as they are the smartest persons according to me.

Daniel91

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Quote from: taxmanmt5 on May 11, 2017, 10:02:09 AM

Just see the bitcoin price climbing so high. 1900$ is a very high amount and not many people can now afford to buy a single bitcoin. Also those who are earning bitcoin will now get less bitcoins like before some pay you 10$ it was 0.01 and not it is just 0.005 (same 10$).

In short, Will bitcoin will only be in the hands of rich in near future ?

I don't think so, really.
You see, we have many different ways to get bitcoin, not just by buying in the market.
You can trade, gamble, play casino, join HYIP etc.
If you don't like risk, you can work for your bitcoin, as freelancer (if you have some skills like programming) or simple by collecting faucets or writing fort signature campaigns.
I think that still many people will be able to collect bitcoins, but just in different way.

Ayers

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Quote from: taxmanmt5 on May 11, 2017, 10:02:09 AM

Just see the bitcoin price climbing so high. 1900$ is a very high amount and not many people can now afford to buy a single bitcoin. Also those who are earning bitcoin will now get less bitcoins like before some pay you 10$ it was 0.01 and not it is just 0.005 (same 10$).

In short, Will bitcoin will only be in the hands of rich in near future ?

i know what you are telling here but this is good for distribution, because if one person can only afford a tiny fraction it mean that you need more people to buy the same amount of coins as before, nothing bad about this, it's not only helping the rich, but it's helping bitcoin adoption

Iranus

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Quote from: taxmanmt5 on May 11, 2017, 10:08:31 AM

Quote from: BrewMaster on May 11, 2017, 10:04:23 AM

nobody is forcing the "Common Man" to buy 1 whole bitcoin. there are 8 more zeros after the decimal point and they can choose any amount they want to buy.
1BTC= 100000000 sat

and besides there should be a difference between someone who didn't listen to the FUD of others and bought when it was cheap and someone who did listen to FUD and didn't buy or sold his coins.

You are right. Every one can have some portion of bitcoins but having a full 1 bitcoin will be a rare thing in the near future. Just like everyone has cars but Few can afford BMW

So I would suggest gather as much bitcoins these days as possible before it reaches out of reach (Like 10K Dollars per bitcoin Wink

)

It will absolutely never be "out of reach", no matter how high it goes. That's a complete logical fallacy. The only case in which it'll be "out of reach" is if the transaction fees are higher than the amount a person buys, which is very unlikely to ever happen.

It's just like saying "I will buy an ounce of gold, but if an ounce of gold's price goes up I won't be able to afford gold anymore". No, you just buy a tiny bit less gold. It's only about whether the price will go up further again in the future.

taxmanmt5

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Quote from: BrewMaster on May 11, 2017, 10:04:23 AM

nobody is forcing the "Common Man" to buy 1 whole bitcoin. there are 8 more zeros after the decimal point and they can choose any amount they want to buy.
1BTC= 100000000 sat

and besides there should be a difference between someone who didn't listen to the FUD of others and bought when it was cheap and someone who did listen to FUD and didn't buy or sold his coins.

You are right. Every one can have some portion of bitcoins but having a full 1 bitcoin will be a rare thing in the near future. Just like everyone has cars but Few can afford BMW

So I would suggest gather as much bitcoins these days as possible before it reaches out of reach (Like 10K Dollars per bitcoin Wink

)

BitcoinPanther

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Quote from: BrewMaster on May 11, 2017, 10:04:23 AM

nobody is forcing the "Common Man" to buy 1 whole bitcoin. there are 8 more zeros after the decimal point and they can choose any amount they want to buy.
1BTC= 100000000 sat

and besides there should be a difference between someone who didn't listen to the FUD of others and bought when it was cheap and someone who did listen to FUD and didn't buy or sold his coins.

I agree, if 1 bitcoin is too much for a common man, then he can buy satoshis. The creator of Bitcoin had seen this problem so he created Bitcoin with 8 decimal point. He knew that time will come bitcoin will increase and price and regular people will be having a problem to buy the whole bitcoin, and sets it with 8 decimal places to the right after the dot. So people today can still buy bitcoin as cheap as less than $1 in form of satoshis.

European Central Bank

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the common man will be the very last man on board no matter what happens. he's had years but if he can't recognise the value then that's his problem.

at some point bitcoin's main unit of measurement will change, or it really should for practical reasons. then it'll look like a bargain again to people who ain't too bright.

Topic: Is bitcoin becoming out of reach on Common Man - page 4. (Read 3862 times)