Topic: Type of people who buy bitcoin. - page 7. (Read 937 times)

I do not know, but the way you frame the question makes it seems that you think you can only buy full bitcoins and this is not the case, you can buy small amounts of it, the only issue is that due to the high fees if the amount is too small it could cost you more the fees than what you want to buy, however people from all walks of life buy bitcoin, but as it gets more expensive then you need more cash to buy one whole bitcoin to the point that only a minority of people can afford bitcoin now, but if you had come to this market years before it could have been affordable to almost everybody.

This would be hard to survey, at least accurately. If you think about any type of invest, and you consider the Gamestop, and various other movements recently, there's always a wide range of people who get into investing. Bitcoin, at the very start was certainly for those that were more tech savvy, and its evolved as a more open minded currency. I still think its not on the mainstream consumers level, but those that are either willing to take risks, in order to earn a lot or those that believe in the technology. Now, those that are willing to risk a lot, to earn a lot could be from either background. However, from my observations those that come from poor backgrounds are more likely to risk higher amounts of their income for possible returns. As opposed, to those that come from rich backgrounds, who carefully invest, and when they do invest its usually not a large portion of their net worth.

Lets just pretend that we could survey the general population of Bitcoin accurately, I would expect to see more people from poorer backgrounds than I did in 2011. I would also expect more consumer level, as opposed to tech savvy people back in 2011. If we were to compare Bitcoin to altcoins, then I would expect the altcoins industry to have more people from poorer backgrounds hoping that they can catch the "next Bitcoin".

I think majority here will agree that everyone is just an average joe investor. So no, your mindset is your, bitcoin is for everyone, not just for the elite or those who have a lot of money. If course if you have deep pockets you have an advantage here, but it doesn't mean that normal people can't invest on bitcoin, you just have to start with baby steps and then continue to accumulate bitcoin overtime.

Just look at this chart:

https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

In summary: You can buy bitcoin as long as you have money regardless of your financial situation, and remember that you can buy fractions for a bitcoin. Regardless how crappy and how low-paying your job is, as long as you are able to save some money, then sure you can buy bitcoin. But of course, obviously the wealthier people would be able to take advantage of Bitcoin more; just as with any other investment.

I think this is one of the privileges of Bitcoin (and of course other cryptocurrencies). Everyone has the same right to buy Bitcoin. Even in Exchange Local in my country, we can buy a minimum BTC with less than 2$. Of course, the amount of money spent usually will affect the amount of profit we get. The bigger money we use, the opportunity to get a bigger profit becomes higher. But it is directly in line with the risk that will be accepted.

But what is certain is, never use the daily money needs to buy Bitcoin. However, we can set aside a little by little from the wages that we get to invest in Bitcoin. This is what I did. But of course, everyone must reset first before truly going to enter the world of Cryptocurrency.

I can't speak of other countries as I do not know the situation of things there. In my country, people just focus on getting a bit of btc, no matter how small, they try to get some funds in regardless of how much they earn or if there financial situation is good.  That is why I will forever be grateful for the fact that Bitcoin has smaller denominations and you don't necessarily need to own a full Bitcoin (1BTC or more) to be part of the community.  I do have a friend without a strong financial background but he was always offloading a portion of his tiny salary to buy btc between the range of $3.7k to $7000. Today, he's good with holdings.

Hello. So, I was wondering if bitcoin is something that only the privileged and elite who have extra money leftover can invest in or not. Are normal people working minimum wage buying bitcoin, even if it is a small amount? Thanks.