Someone said that Bitcoin is for the rich, but that's not completely true. It might feel like Bitcoin is for the rich due to the media focuses on celebrities and billionaires buying and benefiting from Bitcoin. This creates a perception that Bitcoin is a rich person's asset. Even during network congestion, fees can spike making small transactions very expensive. But let's not forget that Bitcoin is neutral, it can empower the rich or help lift the poor, it actually depends on how communities adopt it. So understand that Bitcoin is for everyone, you can buy tiny fractions, not until you afford a whole Bitcoin.
Let’s be real — Bitcoin made poor people lose tens of billions in scams and shady pyramid schemes. The hype and price spikes attracted them, but the lack of education and the complexity of crypto turned them into an easy target.
Most scams stayed unpunished for years because crypto operated in a legal grey area. So for many, Bitcoin has been more like a trap for the poor and a profit machine for the rich.
Scams, investment losses...all due to human behavior. It is ignorance and greed that kill us, don't blame bitcoin because without bitcoin, criminals, scammers will also use other alternative tools like gold, USD, fiat...anything, and if we still cannot control our greed, we will still fall into those traps.
Ponzi schemes have existed for over 100 years, the dotcom bubble, the stock market crash...have also caused hundreds of billions of dollars in losses. Why is no one blaming them? Why is Bitcoin always blamed when financial scams and investment losses have been going on for hundreds of years, while Bitcoin is only 16 years old?