Hi everyone,
I have a question concerning the current high value of a BTC. I talk a lot with friends who don't know much about BTC and try to convince them to buy some too.
When I tell them about it, the same question which always comes up is:
"But since it is so expensive (2000-3000$), how can I afford 1 BTC?"
I always tell them that it is possible to buy 0.5 BTC or even 0.001 BTC. But I think this is a major problem which gets worse with the price rising even higher.
So here is my question:
Are there any plans on changing BTC to make it "look more affordable"? Perhaps introduce something like mBTC (worth 0.001 BTC / 1 BTC = 1000 mBTC) so that people have a better feeling buying something, which is not a number behind a zero (e.g. 0.025).
I don't want it to become something like a "discount looking currency". But it's a psychological problem, that people don't like to buy only a part of something or (as in this case) often don't know that they can buy less than 1 BTC.
To say "Well, the people who don't know better shouldn't buy anyway" seems to be the wrong approach on the way to mass adaption.
I must admit that 1btc is a whole lot of money when converted to the fiat of my own local currency which I am very sure not a lot of youths can afford and those who can, I am not sure they can afford to lose it since that is the disclaimer of putting your money into bitcoin. But my challenge is when telling them to buy what they can afford in the case of fraction of bitcoin but they still insist they are not because they are expecting the returns of 1btc but I think a more detailed explanation would do well to clear their curiosity.
It is a lot of money for many people here, me too. Creator of this topic wrote "it's a psychological problem" and it is my opinion too, people would like to by whole bitcoin, but it is hard to get one. Many of
this people, and in that I count some of my friends, would like to be rich without work and risk. Buying small amounts when you can, 0.001
BTC or more, and working for it in several ways is also great. That
could be a way for many people to get to 1
BTC, it is how I plan to come to 1
BTC.
Internet is free for all the people, people who do not know better should use free internet and find information that needs them. If no one offers you approach find it yourself, there is always a way if you are
ready to look for it!