Topic: Stacking Satoshi Privilege (Read 206 times)

I definitely think that being able to accumulate Bitcoins every month or every two months is a privilege because it is not only those fighting an addiction or stuck in an interest-paying circle due to debts that can't buy Bitcoin very easily, but we live in a world where income is lower than the expenses due to high inflation rates and even a person without debts or an addiction hardly makes the end meet with what they earn, saving and investments are nothing less than dreams for them.

That's why, a person who is able to earn enough so that they can cover all the expenses of themselves and their household and family and still have money left so that they can save it or invest it in Bitcoin is privileged and I'm serious about that because you can't find a lot of people being able to do that these days, especially those who are employed and not self-employed or having their own businesses.

When it comes to being privileged, I think having money itself is to be termed as being privileged too. Not everyone that works so hard for money or invest in some certain businesses make it as wealthy as they wanted. Relating having Satoshi to been privileged is actually true and I totally believe in it to be so. You can have the whole money today but if you’re not privileged to make a right investment decision like investing in bitcoin, you could just see the money swaying away from you without achieving anything tangible from it. You could also have the money and looking at expenses on the money, you can still miss out on buying them which is also understandable. Some sacrifices needs to be made at some point if you want something big to happen in your financial life.

I saw you referred back to my previous post, so I'm not sure if you caught my last response where I expanded more on this topic and why I believe anyone can take part in the bitcoin revolution if they choose to.  What are your thoughts?

I think enlightenment and education can be privileges. It is this that pushes people to understand the importance of investing in their future. There are many examples of people who, being poor, still left a few pennies and created their own businesses on the profits of seemingly unimportant things. It is important to understand that you cannot live one day, spending every penny, and here Bitcoin can be an ally, offering investment, even a small amount. However, the fact that people are in a hurry without understanding all the subtleties proves the statement that investing in Bitcoin is not accessible to everyone. This means that the better a person is informed about it, the greater his chances of success.

If you understand the potential of bitcoin and have the zeal to invest, and passion to accumulate, if you don't have a work, you will go and get one, and if your income is slim, you will look for a second means of income so that you can have extra that you can use to invest in bitcoin.

The fact is that there is nothing that we cannot achieve if we have the passion to do it because we will look for variouss ways to make sure that we achieve our goal, but this statement is not for the lazy ones, because some people just want to sit down and be making money which is impossible as a poor man. Bitcoin investment is for people that can take risk, and discipline themselves so that they can buy bitcoin, you can also trim down your expenses if you see bitcoin that it is worth to buy and hodli.

Investing in bitcoin is not a privilege but an opportunity, the way you go at length to grab other opportunities around you is how to should also do to buy bitcoin. Moreover. you are not buying one bitcoin but satoshi. It is people that buys one bitcoin at once that are privilege.

Bitcoin is not for everyone. You mustn't place feeding or clothing yourself over gaining yourself a few satoshis. It's not everyone that has the patience to hodl and there can be matters that will warrant you use that funds to settle them .Some people have misunderstood that concept and as such have taken money set for something else to invest, and what if the market isn't favorable? Placing priority is key as it will help you focus and use your funds appropriately. One thing I know about Bitcoin is you are never late to the party so instead of being in a haste to invest or start small, use that little fund and  settle your family's immediate needs.

My position comes from my personal experience and what I see around me. There was a time when I was in a bad place - no job, mad debt, barely scrapin' by to eat and keep the lights on.  But I never asked for a handout or nothin.  I knew I had to pull myself up by my bootstraps.  And before you think I'm from someplace with a boomin' economy, I ain't.  Even so no matter where you are, you gotta find opportunities and just hustle harder and  when youre down bad, you do what you gotta do, whether it's collectin' cans or mowin' lawns.  Nothin wrong with hard work to feed yourself and get by.  Bit by bit anyone can climb outta whatever financial hole they fall into if they put their nose to the grindstone.  It ain't easy, but it's gotta get done.

There's definitely parts of the world where folks are going hungry and even dying from tough money situations.  I'm not trying to deny that.  But that's not what were even talking about here.  People dealing with that level of hardship probably don't have internet access or technology, let alone access to Bitcoin and 

what I'm getting at is, the places where Bitcoin stands to make the biggest difference right now are more developed areas grappling with high inflation rates and crashing currencies - countries like Argentina, Venezuela or Turkey... or some countries of the African continent, such as Ghana or Zimbabwe.  Your average resident there likely does have some form of internet and a smartphone.  So they're in a position to potentially leverage Bitcoin to shield their savings from rapid inflation thats destroying the value of their domestic currency.

The most important thing for everyone is to survive. I don't think anyone will prefer to suffer hardship because he wants to invest in Bitcoin. One has to be alive to enjoy the benefits of investing in the sector. So we should place food, housing, health and other basic needs above buying Bitcoin. If you can meet your basic needs, you can decide to use the extra money to invest.

Your position that everyone has the opportunity to invest in Bitcoin might be based on your country's economic conditions. Maybe you are from a developed country where there is a low level of unemployment and better economic conditions. In some countries people are starving because there are no jobs or any welfare package from the government. There are people whose income is not even enough to provide what they need. For this set of people investing in Bitcoin is a luxury or a big dream.

The rich get richer more easily than the poor but if you belong to the poor, can work to have money for investment, you can become richer.

Effortlessly or not, it does not important, the importance is you are patience enough to make your investment plan works for you or you will panic sell with bad news.

People usually start with zero and many are self-made billionaires. If you can work, have talent to earn money from job salary and can have savings for investment. If you investment is good, you will get richer. If you only say, you are in bad financial status and can not invest, it's your fault and it shows that you don't want to seriously make a plan for your investment and improve your financial status.

Nowadays and with such high fees it does not seem a privilege because if the amounts of satoshis you accumulate are low you are going to leave a lot of money in fees both when acquiring them and later if you want to spend them because you have many inputs. A huge amount if we talk proportionally. I would call it anything but privilege, since anyone can do it, and a privilege is reserved for a few.

Just because a person is an investment/trading expert doesn't mean they're honest in whatever they say. Indeed, buying Satoshi is good but it is not a privilege. As long as Bitcoin still exist Sats will continue to remain under it. I do believe Satoshi is a hidden gem that most people do not know about that is why most persons consider it a privilege to invest in it now the price is very affordable. But unfortunately people are mostly interested in Bitcoin. This is because it is the pioneer of them cryptocurrency even the higher than the so called Satoshi. The only time Sats would be popularly worth investing is when its marketcap is close to Bitcoin itself, if not it will still be considered as a fraction of Bitcoin which can never be the original product.

You are 100% correct, investing in Bitcoin and investing in general is indeed a privilege, because it means having money for saving, and far from all people on Earth can save money, billions are barely surviving, having to skip meals, wear second-hand clothes and so on. -

On top of that, Bitcoin is a high risk speculative investment, and it has downsides that make it worse for people who can't afford to risk. Many traditional investments like bank deposits or real estate only go up and up, so if you put money in them you can reliably pull them out at any moment if you have an emergency. But with Bitcoin's volatility you might be forced to take a loss, sometimes a very significant loss if you bought during the bull run and the price crashed in the end. Bitcoin is only a great investment for those who can afford to not touch the money they invested in Bitcoin for as long as necessary to see the profits, sometimes for many years.

No, we're all equal on this one.

You've mentioned those with addictions and debts. It's obvious that they need to clear those before investing or engaging into a new financial instrument.

Someone who's trying to invest and yet has got debts and addictions on anything are confusing themselves. They'll never get able to succeed with that because the impractice of handling money is on them.

So even if they try hard to accumulate sats, they'll just get bored because of their debts that are unpaid and the addiction in gambling or any other vices that they have.

They need to overcome those problem first.

You are 50% correct, however, every man must wake to reality first to make ends meet and then plan to have savings which maybe kept in BTC and some in banks. Waking to this reality is not just the case but the government have a greater role to play , there are high level of unemployment and many who think of starting business do not have the capital to start. If we observe very well as the op have said, most investors who are heavy investors came out of a wealthy or rich home. A child who grew up struggling without a helper might not find it easy to become easily stable financially.
Thanks to the idea of learning a trade early which is helping many become their own boss and making some money for themselves, though money made  by some is not enough for their day to day expenditure. 

I kinda disagree with that notion that folks who are tight on money shouldn't mess with Bitcoin.  I mean, there's ways even broke people can get some Bitcoin action going on.  They could hustle and grind to score tiny bits of coin here and there.  And you got apps and stuff now where you can throw down just a couple bucks and it'll get you started buying Bitcoin.   

It aint much but hey, ya never know, right? Start small and see what happens.  A little Bitcoin lottery ticket never hurt nobody.

Have you heard of people that feed from hand to mouth that’s exactly the kind of people OP is most probably referring to. No matter how we feel each person needs to take advantage to stack more bitcoin, there are people who aren’t that privileged because the do not have that amount to spare. One of the golden rules for a successful bitcoin investment is to invest an amount that you can afford to lose, so that you don’t go back to it in a short period of time or be disturbed when you see the price falling. Do you see this set of people as people that have an amount they could lose? To me NO and trying to invest in bitcoin can simply put them in difficult situations but they can use it for payment purposes if at that time it is better, cheaper and faster than Fiat as it is the primary reason for it in the first place.

Getting satoshis over time can be a good thing for folks who have money to spare.  But even people without a bunch of extra cash can do it too, just takes more effort.  If you got disposable income you can drop bigger amounts into Bitcoin whenever.  but if you just put in like a little on the regular, that'll grow after awhile. and  It ain't always easy when money's tight, but sometimes you just gotta scrape together what you can.  Small bits at a time can turn into something down the road.  Just takes some discipline and patience.

First of all Bitcoin investments is not for everyone.you do not expect one struggling with drug addiction to invest in Bitcoin or someone who hates crypto to buy and hodl some Bitcoins.
Secondly you must not buy large amounts of Satoshi before you can say you have invested in Bitcoin.you can always buy al little as possible that is why we say invest what you can afford to lose

Well, it is true those folks with money in the bank likely can buy Bitcoin easier.  They got extra cash to toss around, not as many debts to pay, steady incomes - they can put extra cash into Bitcoin without sweating it too much.  For them its just extra.

But, you do not need to be rich to make bank. Even investing a small amount several years back could yield significant returns today.  There is no guarantee history will repeat itself down the road, but then again, whos to say it wont? I suppose only time will tell if throwing pocket change into bitcoin now might balloon into a nice little bundle 5, 10 years from now.

You cannot invest in Bitcoin when you have not met your basic needs which include food, shelter, healthcare and few others. If you manage to even invest in Bitcoin without making provision for these things, there is no guarantee that you can hold those precious coins.

I usually advice anyone interested in accumulating Bitcoin to first of all get a good cashflow that can support his needs, then investment can be made.

We can say it is a privilege to invest in Bitcoin because many things about life itself are privileges and not right. Those who have the means can enjoy the privilege and those who doesn't need to work smarter to be able to.

Yes, we encourage people to buy bitcoins but we also tell them to buy within their means. I’m sure you have heard the advice  “only invest what you can afford to lose”. Someone who has all this challenges you mentioned should be thinking about stacking bitcoins. A gambling addict who is trying to quit should avoid investing in bitcoin by all means because he might likened bitcoin investments to gambling and we know how that goes. Eventually you start to search for coins that can give you x5 your capital. Same thing applies to a person who can barely make ends meet, they will definitely see bitcoin as a get rich quick scheme and ultimately make mistakes that may cost them their investment.

One of the reasons why people love Bitcoin is that they think they can boycott the stage of using their income to invest, many think that joining Bitcoin would give them some sort of imaginary wealth.
Yes you can stack some Bitcoin little and slowly but the truth is that your reward would come after you must have endured good deal of patience it's not magical that why I advice getting something that can give you income to sustain your Bitcoin investment

Anyone in this situation should be focused on getting their life and finances together before considering investing. You cannot invest in anything if you do not have the means to, and to have the means you need enough income to take care of essential needs and leave a little extra to play with.

Bitcoin is not peculiar and is not a privilege, you just need to want it and be willing to put in the work for it.

- Jay -

Any investment is impossible without income. And if you constantly do not have enough money, then you will not be able to make any investments, including in Bitcoin. Of course, you can further reduce your expenses by buying a little Satoshi for these cents, but this will not be able to significantly improve your financial situation, even if the price of Bitcoin increases 10 times.

We've often heard the advice to accumulate satoshis, invest in Bitcoin, practice Dollar-Cost Averaging (DCA), HODL, and others. However, I can't help but ponder that these actions may be a privilege for those who can effortlessly engage in them. Accumulating satoshis seems like a privilege reserved for those with a stable financial foundation. For individuals grappling with debt, overcoming addiction, be it to gambling or any other vicenor simply trying to make ends meet, investing in Bitcoin might be viewed as more of a luxury than a privilege. Do you think that accumulating Satoshis is a privilege?