Is BTC only for middle and upper economic class? - page 4.

Maheshkumar_Hrangkhawl

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Quote from: BlackPanda on July 02, 2017, 06:43:18 AM

Quote from: Maheshkumar_Hrangkhawl on July 02, 2017, 06:15:52 AM

It is true that only the computer literate people are knowledgeable about Bitcoin. But that doesn't mean that all of them belongs to middle or upper class. I myself belongs to the lower middle class, and most of the users I know, are either lower middle class or upper middle class and I am yet to come across anyone in the upper economic class.

So the point is to know and understand the bitcoin ie those who can operate the computer. While those who can not operate a computer, even if someone who is poor or rich is not familiar with bitcoin. Bitcoin is technology so only people who want to try new technology that can use bitcoin.

Even basic computer knowledge is not necessary. If someone knows how to use a smartphone, then I don't think that he will face any issue in dealing with Bitcoin. But it can be sometimes tough for the elderly people to understand the technology behind Bitcoin. Another concern is the robbery of coins from your wallet. You need to know how to backup your private key, and how to use 2FA.

tigershark

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Quote from: zarados on July 02, 2017, 01:05:56 AM

hello..Please your opinion.

As we know that Bitcoin is being discussed right now and people hope in their country Bitcoin can be ratified as a legitimate transaction tool. But in my country, only about 3% are familiar with bitcoin. Is this because only the upper middle class knows the bitcoin, or is there any other cause? What about bitcoin in your place?

It's hard to obtain and use bitcoins without access to computers or smartphones. This eliminates some people from using it. There are also others that don't know about it yet, and those that have heard of it but don't know how to get bitcoins. It's not widely publicized.

Barcode_

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BTC is a currency that can be used by anyone regardless of how much income a person earns, the most common reason that people do not use bitcoins is because they are not interested to learn about how bitcoin works and also they are not interested to learn about it. Bitcoin is not created for the middle and upper economic class only, bitcoin is designed for the people that choose to believe in its technology and future.

novemberwoah

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Quote from: zarados on July 02, 2017, 01:05:56 AM

hello..Please your opinion.

As we know that Bitcoin is being discussed right now and people hope in their country Bitcoin can be ratified as a legitimate transaction tool. But in my country, only about 3% are familiar with bitcoin. Is this because only the upper middle class knows the bitcoin, or is there any other cause? What about bitcoin in your place?

Bitcoin only for middle and upper economic classes is not true because bitcoin is freely used by anyone. Maybe you're right, in my country too few people are familiar with bitcoin. But that's not because only middle and upper classes can use bitcoin, but because there are still many people who do not understand bitcoin. When I meet some of my friends and ask about bitcoin, the average of them does not recognize it. And why the lower economic class does not recognize bitcoin because to know bitcoin one has to understand technology, and I'm sure lower economy class still can not or hard to understand technology. Maybe I think it is and not a matter of one's economy class.

pitiflin

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I would say 3% is too high because when you go and ask any random person whether he/she knows anything about bitcoin ,the person would rather blink /think what are you blabbering about.Bitcoin cannot be suitable for everyone right now as it would take a few years at least to bring in the concept of it to people's minds.Bitcoin is only known to some of the people of middle and upper economic class as far as i know.

Kprawn

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Even though we do not know your country of origin, we can still guess that it might not be a 1st world country. If you live in a 3rd world country,

the adoption will take a bit longer, due to poor access to internet infrastructure and smart phones. Projects like this :

https://en.wikipedia.org/wiki/Project_Loon wants to change all that, but they cannot seem to keep the balloons in the air. Roll Eyes

Gaff

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Quote from: Palmerson on July 02, 2017, 06:55:01 AM

Bitcoin for all. Just depending on the class of people for a variety of it is mined. Those who have low incomes trying to make it work. Those who have average income those who are making the trading on the exchange or mining. Whales earn investment and speculation. Each has its own niche.

Exactly! Regardless of your job. People make ways on earning by means of survival or any. Bitcoin is a starter to make people with fair view on making a goal to make a living and at mine at the same time. It's not only for middle and upper economic class because everybody's equal whether others are well-off but then they still have goals for an investment to some businesses the more in lower classes.

jaceefrost

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Quote from: zarados on July 02, 2017, 01:05:56 AM

hello..Please your opinion.

As we know that Bitcoin is being discussed right now and people hope in their country Bitcoin can be ratified as a legitimate transaction tool. But in my country, only about 3% are familiar with bitcoin. Is this because only the upper middle class knows the bitcoin, or is there any other cause? What about bitcoin in your place?

Same like your situation, only a small part of the people in my country kows about bitcoin. Some may have heard or read bitcojn somewhere but if you ask them about it, you will still get a response of "what's that?" how it works" and if it is "real". I believe you got it wrong about bitcoin is only aimed for upper middle class people. You may have view it like that as of today because bitcoin is not yet well known. As a decentralized currency, bitcoin is aimed to be used by anyone and anywhere while being free of the limits that banks give us. Once More people gets educated about bitcoin, for sure words will spread and it will be used by anyone even those people below the middleclass you are referring to.

YOYOY

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For me I think it is not, even if you are not in the middle or upper economic class as long as you know how is the process in bitcoin world you'll know about it. If you have knowledge about it, even if you're a lower class you can have some bitcoins. Bitcoin is for everyone, there are no discrimination about it because when you're on your mobile or PC you're now part of the bitcoin community.

Bous

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I think that lower class people will be more willing to put some money in Bitcoin hoping to get rich overnight, which will of course do not happen.

Palmerson

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Bitcoin for all. Just depending on the class of people for a variety of it is mined. Those who have low incomes trying to make it work. Those who have average income those who are making the trading on the exchange or mining. Whales earn investment and speculation. Each has its own niche.

Maheshkumar_Hrangkhawl

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Quote from: Anegg on July 02, 2017, 06:30:42 AM

Bitcoin is for everyone regardless of their social status since all you need to have to use Bitcoin is an internet connection and something to browse the internet with. Just imagine Bitcoin as normal money, except with the exception of having to have an internet connection and something to access the internet with. Bitcoin was not introduced to only the middle status people or high status people, but instead everyone. This is what makes Bitcoin so great and the most popular of the cryptocurrencies.

If fiat currency can be used by everyone (despite of their social status and economic class), then Bitcoin can also be used by everyone. The good thing about Bitcoin is that it can be divided almost infinitely. But in case of fiat currency it is not possible. For example, the lowest denomination coin for the United States Dollar is 1 cent penny ($0.01). It is not possible to transact in amounts lower than this.

BlackPanda

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Quote from: Maheshkumar_Hrangkhawl on July 02, 2017, 06:15:52 AM

It is true that only the computer literate people are knowledgeable about Bitcoin. But that doesn't mean that all of them belongs to middle or upper class. I myself belongs to the lower middle class, and most of the users I know, are either lower middle class or upper middle class and I am yet to come across anyone in the upper economic class.

So the point is to know and understand the bitcoin ie those who can operate the computer. While those who can not operate a computer, even if someone who is poor or rich is not familiar with bitcoin. Bitcoin is technology so only people who want to try new technology that can use bitcoin.

Anegg

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Quote from: zarados on July 02, 2017, 01:05:56 AM

hello..Please your opinion.

As we know that Bitcoin is being discussed right now and people hope in their country Bitcoin can be ratified as a legitimate transaction tool. But in my country, only about 3% are familiar with bitcoin. Is this because only the upper middle class knows the bitcoin, or is there any other cause? What about bitcoin in your place?

Bitcoin is for everyone regardless of their social status since all you need to have to use Bitcoin is an internet connection and something to browse the internet with. Just imagine Bitcoin as normal money, except with the exception of having to have an internet connection and something to access the internet with. Bitcoin was not introduced to only the middle status people or high status people, but instead everyone. This is what makes Bitcoin so great and the most popular of the cryptocurrencies.

Adbitco

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Bitcoin is for everyone irrespective of their financial status. Bitcoin is still in early stages and a lot of people don't know about it at all. Compared to other technologies bitcoin has not reached masses. Bitcoin has a long way to go. It's our duty to introduce it to as many people as we can and make it more popular. Once a huge number of masses get to know about bitcoin and they have enough knowledge of blockchain and bitcoin this difference of middle class and upper economic class will disappear and we will see almost every other person using it and being a part of it. Bitcoin needs much more exposure than it has now before it becomes a mainstream currency.

Maheshkumar_Hrangkhawl

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It is true that only the computer literate people are knowledgeable about Bitcoin. But that doesn't mean that all of them belongs to middle or upper class. I myself belongs to the lower middle class, and most of the users I know, are either lower middle class or upper middle class and I am yet to come across anyone in the upper economic class.

Juggy777

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Quote from: zarados on July 02, 2017, 01:05:56 AM

hello..Please your opinion.

As we know that Bitcoin is being discussed right now and people hope in their country Bitcoin can be ratified as a legitimate transaction tool. But in my country, only about 30% are familiar with bitcoin. Is this because only the upper middle class knows the bitcoin, or is there any other cause? What about bitcoin in your place?

Bitcoin is not only about middle class or upper class, it's for everyone who knows about it. I know many okay people who have bits of it. You may quote it by saying that they can't buy it in whole, but every one can buy in bits. That's how a smart person will do. I know one may say it's irritating thing to buy in small but then it's best to buy rather than not buy it at all. I think you got the wrong notion about this, I hope now you would be well educated about it.

stompix

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Blackjack.fun

Your original post stated 30%.
Then after the avalanche of people inquiring that number you backtracked and went to 3%.
Obviously not a typing mistake.

So, at this point one thing is sure.You have no clue how widespread bitcoin is, there is the possibility that it might even be below 1% in your country.
With this huge gap in your "statistics" how have you come to this conclusion about middle and upper class users?

eaLiTy

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Quote from: zarados on July 02, 2017, 01:05:56 AM

But in my country, only about 3% are familiar with bitcoin. Is this because only the upper middle class knows the bitcoin, or is there any other cause? What about bitcoin in your place?

It is simply because they are ignorant about bitcoin or simply would not bother to check what bitcoin is,there is a notion with people that they will be skeptic for the things they see for the first time because they are not aware nor care to learn about new things. It is not about middle and upper economic class,bitcoin is for everyone but mining is for the upper class. Wink

clamcho

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everyone can get bitcoin as long as he know how to get it .

Topic: Is BTC only for middle and upper economic class? - page 4. (Read 3454 times)