Re: Bitcoin is becoming currency for rich dudes, why so fast???
if you want to see bitcoin as a currency then it doesn't matter how much it is worth. you buy $20 worth of bitcoin and you spend $20 worth of bitcoin. if bitcoin is worth $20 you get 1 bitcoin and spend 1 bitcoin.
if it is worth $1000 you get 0.02 bitcoin and you spend 0.02 bitcoin.
where the rich come in, i have no idea
if it is worth $1000 you get 0.02 bitcoin and you spend 0.02 bitcoin.
where the rich come in, i have no idea
He has a point. No matter how much bitcoin is in dollars it doesn't matter. What makes it look expensive is because we convert it to another currency which makes it a decimal number making it look smaller. And what makes 1 bitcoin harder to earn is because its rate is going up but the values for a specific work is just the same. And no matter how high the value of btc is in dollars, it will not make it exclusive for rich people.