Out of Reach - page 6. | Bitcointalksearch.org

ssamotoev

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Quote from: aoluain on December 27, 2020, 07:01:25 PM

My understanding was that the target for the minimum amount of Bitcoin which most
people wanted to own was/is 1BTC in our current bull market that target becomes
more out of reach for the people who most need it.

Why not wealthy person would want to use bitcoin anyway?
It has huge fees so with low btc amounts its practically has no profits.
Someone who isn't operating with at least hundreds of $ worth of btc there is no point to get into the market.
There are far better options like bch or eth

Silberman

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Quote from: aoluain on December 27, 2020, 07:01:25 PM

My understanding was that the target for the minimum amount of Bitcoin which most
people wanted to own was/is 1BTC in our current bull market that target becomes
more out of reach for the people who most need it.

As an investment Bitcoin is a very friendly asset for the nit so wealthy classes. There
is no minimum purchase amount and each and every one of us gets to hold our investment
if we want.

We all like to see Bitcoin rise in value and increase in adoption but its pushing it away from
the people who need it and into the people who control large portions of wealth.

A bit of a conundrum...

While true they have no one else to blame but themselves, you did not had to be an early investor to hold that amount of bitcoin, there was a very long period of time in which the price of bitcoin was close to the 3k level so anyone that wanted to buy bitcoin cheap had months and even a whole year to do for extremely cheap prices, if they did not do it then that is on them, remember bitcoin waits for no one and you are either in or you are out and if you are out of bitcoin then you have no option but to hope bitcoin does not skyrocket while you are not invested in it, which is exactly what happened to all of those people that are complaining now.

Twentyonepaylots

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That's why a lot of people who were able to get their hands on bitcoin years ago are really regretting the fact that they let the opportunity slip their hsnds. Some even go so far as to commit suicide because of this. Some things are really boud to happen and for me, if you weren't able to get it in the first place, it might not e really for you at all.

inoes

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The price of BTC is ± 26,000 $, ordinary people will not be able to buy it in full. can only buy some parts of BTC. and if they hold btc it seems less profitable. now BTC has become a luxury item,whatever happens we must not force the situation. as an ordinary person, I can only buy duplicates of BTC, namely Altcoins. for me it doesn't matter, because I need to think creatively about the conditions that have already been.

20kevin20

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Quote from: aoluain on December 27, 2020, 07:01:25 PM

There
is no minimum purchase amount and each and every one of us gets to hold our investment
if we want.
[..]
its pushing it away from
the people who need it and into the people who control large portions of wealth.

You've just solved your own problem. Bitcoin has no minimum purchase amount. You could purchase as much as you like - 1 BTC is not required, obviously.

Even if Bitcoin was $1, if there was mass adoption there wouldn't be enough BTC for everyone (21M BTC for 8B people). But the minimum denomination of 1 BTC is small enough to currently be affordable by anyone. I have to admit though that fees currently do not make it a good daily driver, especially for less-developed countries.

Fortify

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It does seem that the higher Bitcoin gets, the more it will become a novelty reserved for the richest and it might lose desirability or interest for the average person. Who knows how this will affect the long term value of it, but Bitcoin might just become a commodity that is used to avoid government financial oversight as money is moved across borders. That too could spell trouble for Bitcoin, because governments have traditionally been able to follow large amounts of money moving throughout their financial systems and might get stricter if it is easier to avoid them.

Smartprofit

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Quote from: aoluain on December 27, 2020, 07:01:25 PM

My understanding was that the target for the minimum amount of Bitcoin which most
people wanted to own was/is 1BTC in our current bull market that target becomes
more out of reach for the people who most need it.

As an investment Bitcoin is a very friendly asset for the nit so wealthy classes. There
is no minimum purchase amount and each and every one of us gets to hold our investment
if we want.

We all like to see Bitcoin rise in value and increase in adoption but its pushing it away from
the people who need it and into the people who control large portions of wealth.

A bit of a conundrum...

Each of us had a chance.

In 2009-2010, only an IT fanatic could learn about Bitcoin. However, in 2013-2014, many IT professionals already knew about the existence of Bitcoin and actively shared this information with friends and acquaintances.

Who then prevented us from buying some bitcoins?

We saw the bear market in 2014-2015. We also saw the 2018-2019 bear market.

Who then stopped us from buying Bitcoin?

You have to be honest with yourself. We lacked faith in Bitcoin and technology. However, we had a chance to buy cheap Bitcoin.

posi

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Quote from: aoluain on December 28, 2020, 03:32:05 AM

I'm happy with what I hodl at atm, so my op was more a general remark.

Alot of people have the exact impression and they are blaming themselves now but that not the subject now cause it never too late if you can learn from your past mistakes cause the market will still experience correction after this bullish market and thats the moment those that really need Bitcoin increase their holding. However, holding/having 1BTC doesnt make you rich if you don't have the knowledge to secure your holding or profit from the market.

Fesatmas

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Quote from: aoluain on December 27, 2020, 07:01:25 PM

My understanding was that the target for the minimum amount of Bitcoin which most
people wanted to own was/is 1BTC in our current bull market that target becomes
more out of reach for the people who most need it.

At first glance there is nothing wrong with what you think is right, because it is proven that people who have 1 Bitcoin are said to be quite capable / rich.
however, remember, when bitcoin first arrived, the principles were useless. You can own many bitcoins, even more than 2 Bitcoin. so the point is not rich or poor. basically everything starts from the cheap price of bitcoin.

Upgrade00

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Quote from: aoluain on December 27, 2020, 07:01:25 PM

We all like to see Bitcoin rise in value and increase in adoption but its pushing it away from
the people who need it and into the people who control large portions of wealth.

Bitcoin would always be affordable and everyone can always purchase what amount of it they can (with capital they can spare of course). An increase in value does not push it away from any class, as long as demand is still increasing, the value would as well (especially as the supply flow is thinning). Also Bitcoin is not a social tool, it's a peer to peer network, anyone can need it for different reasons.

The ironic idea is, if Bitcoin's value has not skyrocketed over the past years and it was still at a very low price, most people who you claim 'need it' would not be interested. It's the price spikes that makes most aware of Bitcoin.

Stedsm

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You shouldn't regret now knowing you've had chances to buy it lower at levels where nobody could have thought they'd once be sitting this high at present. It was under $300 once, even $3k was a great deal and it held that range for more than 6 months, so now saying this that it's becoming out of reach is baseless because everything that's ought to be worth something huge one day, takes a lot of patience and sacrifice of some money to be invested in it.

mk4

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Quote from: aoluain on December 27, 2020, 07:01:25 PM

My understanding was that the target for the minimum amount of Bitcoin which most
people wanted to own was/is 1BTC in our current bull market that target becomes
more out of reach for the people who most need it.

*snip*

We all like to see Bitcoin rise in value and increase in adoption but its pushing it away from
the people who need it and into the people who control large portions of wealth.

The thing though is, the 1 BTC thing is just a target of many people that likes to accumulate bitcoin. But if they really needed BTC? Like when you're from a country like Venezuela, I could guarantee that it wouldn't matter if you had 1 full BTC or not, what matters is that you hold an uncensorable and easy-to-transfer asset that isn't guaranteed to decrease in value on the daily.

As for bitcoin being more and more expensive(in sats value), that's the reality of markets.

AicecreaME

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People always want 1 Bitcoin so they can call themselves "rich" but this is wrong. When you want to buy Bitcoin, you just buy what you can afford, because buying 1 Bitcoin if you have $28,000 already means that you are "rich" so what's the point? what I'm trying to say here is that you cannot get instantly rich in Bitcoin if you don't know how to multiply it without providing another funds to buy another 1 Bitcoin.

Investment in cryptocurrency doesn't require any particular amount, just like what you have said, but investing now is better than investing next year.

aoluain

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Quote from: jackg on December 27, 2020, 07:21:30 PM

Quote from: aoluain on December 27, 2020, 07:01:25 PM

A bit of a conundrum...

It's not the socialist economy product you're imagining. You can own whatever you want, you could've bought at $220 if you were old enough in 2015 for example - what was stopping you?

I'm happy with what I hodl at atm, so my op was more a general remark.

Quote from: jackg on December 27, 2020, 07:21:30 PM

If we assume 4 billion people have a constant supply of food and water, then you need 0.00525BTC to have something realistic to hold or use in the future.

For 8 billion people, 0.003btc will be out of reach to quite a lot of them so you could also go with that.

21000000 people can only own 1 bitcoin (population that size is tiny, like 4 new Zealand, less than half of England, 2+ individual Scandinavian countries).

210000000 people can only own 0.1, that's less than everyone in the US.
2100000000 people can only own 0.01, that's less than China and indias cumulative population...

Interesting numbers, i know Bitcoin is an exclusive club for those of us who realised its potential early
and with the limited supply not everyone is going to own the amount what they would like.

Quote from: exstasie on December 27, 2020, 09:33:22 PM

In 2012, the common goal was 2,100 BTC (1% of 1% of the max supply). That's what it takes to be a member of the "Vladimir Club."

https://bitcointalksearch.org/topic/the-vladimir-club-98239

Just pointing out, this is a constantly evolving thing. The "target minimum" will always become smaller as the price rises. The trend should be negatively correlated to the adoption curve. It was once 2,100. Then it was 100. Then it was 1. Next, it'll be 0.01......

As far as being out of reach, what we need are Layer 2 solutions (and also physical bearer usage) that allow people to transact in minute BTC amounts and with extremely low/no fees. We're years away from that being realized in a large scale, sustainable way. It's still coming, but we should be prepared for investors to price the future in now.

I guess in the future we will be saying, "I picked up 15,000 Satoshi's today"
I get it that the target ownership will shift as the price rises and everyone will create their own target

Darker45

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There is no conundrum here. There is a sad reality, though.

If something is good, the demand for it rises. If the demand rises, the price of that thing is going to rise as well. And if that which is good and in demand is very limited, the price would go even a lot higher to the point that only the rich man can afford to buy a lot and those who are poor can only buy a little. This is the reality that even Bitcoin is trapped into.

The good thing with Bitcoin, however, is that it is available to everyone and in smallest of quantities. And sometimes it stoops down a little and makes itself a little more affordable to the average people. And this early, unlike IPOs, it is offered to everyone interested.

exstasie

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Quote from: aoluain on December 27, 2020, 07:01:25 PM

My understanding was that the target for the minimum amount of Bitcoin which most
people wanted to own was/is 1BTC in our current bull market that target becomes
more out of reach for the people who most need it.

In 2012, the common goal was 2,100 BTC (1% of 1% of the max supply). That's what it takes to be a member of the "Vladimir Club."

https://bitcointalksearch.org/topic/the-vladimir-club-98239

Just pointing out, this is a constantly evolving thing. The "target minimum" will always become smaller as the price rises. The trend should be negatively correlated to the adoption curve. It was once 2,100. Then it was 100. Then it was 1. Next, it'll be 0.01......

As far as being out of reach, what we need are Layer 2 solutions (and also physical bearer usage) that allow people to transact in minute BTC amounts and with extremely low/no fees. We're years away from that being realized in a large scale, sustainable way. It's still coming, but we should be prepared for investors to price the future in now.

jackg

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Quote from: aoluain on December 27, 2020, 07:01:25 PM

A bit of a conundrum...

The goal of bitcoin was more to produce a digital ecash prototype that works fully decentralised...

It's not the socialist economy product you're imagining. You can own whatever you want, you could've bought at $220 if you were old enough in 2015 for example - what was stopping you?

If we assume 4 billion people have a constant supply of food and water, then you need 0.00525BTC to have something realistic to hold or use in the future.

For 8 billion people, 0.003btc will be out of reach to quite a lot of them so you could also go with that.

21000000 people can only own 1 bitcoin (population that size is tiny, like 4 new Zealand, less than half of England, 2+ individual Scandinavian countries).

210000000 people can only own 0.1, that's less than everyone in the US.
2100000000 people can only own 0.01, that's less than China and indias cumulative population...

aoluain

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My understanding was that the target for the minimum amount of Bitcoin which most
people wanted to own was/is 1BTC in our current bull market that target becomes
more out of reach for the people who most need it.

As an investment Bitcoin is a very friendly asset for the nit so wealthy classes. There
is no minimum purchase amount and each and every one of us gets to hold our investment
if we want.

We all like to see Bitcoin rise in value and increase in adoption but its pushing it away from
the people who need it and into the people who control large portions of wealth.

A bit of a conundrum...

Topic: Out of Reach - page 6. (Read 1269 times)