Topic: What's going on? Bitcoin for the rich only? - page 18. (Read 14769 times)
Somehow you are right that the high transaction fee is becoming a big problem for the bitcoin users, a common person which is using bitcoin is really disturb because he can't pay this high fee for transactions, however for rich people it is not a hurdle to pay high fees.
Bitcoin is a virtual currency were it is very open to anyone. Meaning, whether the person is poor its okay as long as the individuals is dedicated and has strong determination to know what bitcoin is all about. Therefore, anyone who will take bitcoin seriously it will surely in a long run will become rich.
Yes that's right! bitcoin is for everyone, as long as you have internet connection and laptop or cellphone you can earn and have bitcoin. I'm not consider myself as rich person because I only have small amount of bitcoin.
Bitcoin just can make person rich if he/she hold it for a long term.
Bitcoin is a virtual currency were it is very open to anyone. Meaning, whether the person is poor its okay as long as the individuals is dedicated and has strong determination to know what bitcoin is all about. Therefore, anyone who will take bitcoin seriously it will surely in a long run will become rich.
To ensure that the amount of services per transaction does not seem too large, you need to transfer a large amount, or pre-translate into an alternative crypto currency. What can you do-bitcoin dear.
What's happening is that bitcoin is soaring for its exchange rate, and bitcoin is not just for rich people who can also use bitcoin because bitcoin can be used for all circles
Very good question! It seems like Bitcoin is going down a bad path, with fees always increasing... I hope they can find a way to fix this, but maybe SafeCoin is the only way forward, so it can have zero transaction fees (MaidSafe "project safer")
I should agree because maybe i am poor and i am in a poor country
it's really hard to earn bitcoin, even if you had enough the fees became higher and the process took longer
but i will still hold on and be hopeful that someday bitcoin process and fees will be optimized for a greater efficiency.
You wont have to wait for long, with segwit activation things are going to get better in the network confirmations are going to be faster and the fees are going to be lower, that is not going to last forever as more people adopt bitcoin and begin to fill the mempool and the network with more transactions but it buys time until the next solution is created by the developers. it's really hard to earn bitcoin, even if you had enough the fees became higher and the process took longer
but i will still hold on and be hopeful that someday bitcoin process and fees will be optimized for a greater efficiency.
Hi,
Even just a year ago bitcoin was useable... now the fees are about 10x what the banks charge. Seems like its changing from a peer-to-peer money system for everyone into yet another convenient way for rich people to exchange funds!
What went wrong> And more to the point, who is responsible? What can be done to fix it?
Thanks
Andy
I do not understand what you mean, what's wrong with bitcoin? I think bitcoin is fine and there is nothing wrong with bitcoin and everybody can still use it. From where can you deduce bitcoin just for the rich only? Even just a year ago bitcoin was useable... now the fees are about 10x what the banks charge. Seems like its changing from a peer-to-peer money system for everyone into yet another convenient way for rich people to exchange funds!
What went wrong> And more to the point, who is responsible? What can be done to fix it?
Thanks
Andy
What can be done to fix it?
Read my signature, 1 august it way to fix. I'm a regular person with low level of income and I can't reach bitcoin. Advoating that bitcoin is for whole society, is just wrong here since as a low-income-person I can't buy bitcoins.
It does not matter your level of income, even if you cannot buy a bitcoin you can buy 0.1 BTC or 0.01BTC or even lower amounts up to 1 satoshi, anyone can afford 1 satoshi and if you cannot then you have bigger problems than not affording bitcoin, second bitcoin is money and no one gives money away for free you need to earn it, but you are lucky you are in the best forum regarding bitcoin, learn and in a few months you could be earning bitcoin instead of buying it. 
I feel like Bitcoin is becoming a bank, in order to transact now we need big amount of fee so that the transaction will be fast. I was amazed in Bitcoin before because the transaction is instant now i don't know what to do anymore, i feel like selling all my Bitcoin and find another crypto that will be used by everyone in the future that will always have a low fee.
It is true that the cost per transaction is too high current bitcoin but perhaps in the future will adjust the charge back for bitcoin suited to the market
At the moment, in my humble opinion, I believe that Bitcoin is more akin to gold rather than Fiat money. Sure you can pay with gold, but expect to pay higher fees to convert the gold to fiat, or get charged a fee for accepting gold. So, I am treating my Bitcoin more as an asset, for me to invest in, rather than a currency.
i see that bitcoin is now having fees or charges during transactions, this is to make the process faster, i think this is for the convenient of the person that wants to do the transaction, its their game. it is also true that having bitcoin today is hard since it costs that much, it is not solely for the rich, it is also for the masses it is just up to us who can be thr warren buffet for bitcoin, since it is already an asset we need to make it grow.
I'm a regular person with low level of income and I can't reach bitcoin. Advoating that bitcoin is for whole society, is just wrong here since as a low-income-person I can't buy bitcoins.
You are wrong. I don't know why you can't buy or invest Bitcoin. For me, I still get a lot of money from Bitcoin as the age of 15, and i'm just a student. I can't deny the help of my parents. I still need them to raise me and a home to go. But Bitcoin for the rich only is disaster. It is suitable for everyone in the world if you really have a little bit knowledge about Bitcoin. 
I will say "how can it be only for the rich only" as I bitcoin for the middle class down can also
I'm a regular person with low level of income and I can't reach bitcoin. Advoating that bitcoin is for whole society, is just wrong here since as a low-income-person I can't buy bitcoins.
Well, you can use localbitcoins to buy any amount of bitcoins within your locality and some sellers offer quite low levels in terms of the amount of bitcoins eligible to be sold and so it can fit all levels of income earners without discrimination.
Of course it really fits on all level and it cannot be distinguished if it's a rich or poor type of earners. For me if you're with bitcoin you can be considered as secret type of a kind of rich person. In short words you are not considered a poor person if you do have the skills of bitcoin digital currency trading and other type of income generating microjobs online.
I'm a regular person with low level of income and I can't reach bitcoin. Advoating that bitcoin is for whole society, is just wrong here since as a low-income-person I can't buy bitcoins.
Well, you can use localbitcoins to buy any amount of bitcoins within your locality and some sellers offer quite low levels in terms of the amount of bitcoins eligible to be sold and so it can fit all levels of income earners without discrimination.
I should agree because maybe i am poor and i am in a poor country
it's really hard to earn bitcoin, even if you had enough the fees became higher and the process took longer
but i will still hold on and be hopeful that someday bitcoin process and fees will be optimized for a greater efficiency.
it's really hard to earn bitcoin, even if you had enough the fees became higher and the process took longer
but i will still hold on and be hopeful that someday bitcoin process and fees will be optimized for a greater efficiency.
I'm a regular person with low level of income and I can't reach bitcoin. Advoating that bitcoin is for whole society, is just wrong here since as a low-income-person I can't buy bitcoins.
don't be sad like that, you still can use free source as mention on here and you only need to find what suit with you. there are many good thread that discuss about how to earn bitcoin by free source and once you found, you need to work hard to earn bitcoin. i am sure that you can do like others people do.
Yes, Bitcoin is only for the rich, go away.
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