Post
Topic
Board Economics
Re: Out of Reach
by
Taskford
on 17/04/2021, 10:33:36 UTC
Small investors such as myself find it hard to purchase bitcoin during a bull market. Yes, everyone here aspires to acquire atleast 1 bitcoin. It was attainable then since the price is only at a thousand dollars, but with the current price which is at 50k atleast, acquiring 1 bitcoin will be difficult, especially for those that are not so wealthy. However, those that have HODL bitcoin from the very start, those of which who have purchased it at a low price will definitely gain more than what they have given.


Must it be at least 1 Bitcoin? I believe everyone should start removing that kind of mentality, and begin counting their coins in the smallest possible denomination. In Satoshis, or Bits.

That's wrong mindset from people like him since at actually we don't really need 1 btc just to gain since even small fraction will give us a  share in bull market aslong as we hold it or either trade it. I see some of the traders especially on binance earning a good profit for trading eventhough they don't have 1 btc still they are gaining a decent figures at the end of the day.

What I think is people take it more like prestige. Holding a full 1 bitcoin is not possible for everyone that's why many feel honored if they can do that. Sometimes everything is not about money but also status. The way crypto hype out this year I think the price of bitcoin is still in dip and we could get 3 to 4X from here easily so I do not think it's totally out of reach.

This will not be possible if they are holding bitcoin without doing anything, we have lots of programs around which can make us earn that figures and if we are skilled provably it can fasten up things towards achieving that whole figures. Also its not about status since see so many individual earning good profits for investments here for example grabbing the opportunity on binance launchpad and other BSC craze things.



I believe it’s more because of a “unit bias” problem. Wallet developers should stop using “BTC” as the base unit and start to use Satoshis or Bits in my opinion. It’s also better from a UX standpoint.

I think they are using that already but BTC but people always makes misconception about it especially with newbies since they always look at the BTC as  a whole figure and not with small fractions.