I'm not saying this bold statement is totally accurate. Honestly, I don't have enough facts to back that up completely. I even recognize that it might not be 100% correct.
BUT
I've got three points to make:
1) "Crypto for the underprivileged, by the underprivileged, for the underprivileged" isn’t entirely false either. There’s definitely a decent amount of truth in there maybe around 60%, 70%, or even 80%.
2) The second part of that phrase is way more true for crypto than it is for other popular investment options, like stocks or real estate, and even for other tech wonders we have today, like computers or the internet.
3) "Crypto for the underprivileged, by the underprivileged, for the underprivileged" is more accurate than most people realize. This meme is seriously undervalued compared to how true it actually is. Right now, most narratives connect cryptocurrencies more with wealth than with poverty.
These points aren't just made up. I’ll share some facts and findings that can at least partially back up these claims.
Many advantages of crypto compared to other investment methods actually favor folks with little or no money to invest.
First off, there are platforms like FairMillions and FreeBitco.in that give out free starting capital (seriously, where are the trillion-dollar market cap stocks giving free money to anyone?).
Secondly, the liquidity in small market cap cryptos is way better for those with smaller amounts of cash, which opens up way better investment opportunities.
Crypto for the underprivileged, by the underprivileged, for the underprivileged
19 replies 314 views
Figuratively, you're right. People who feel wealthy won't do things that stress them out. In reality, that might be wrong; I wouldn't speculate about Satoshi's financial background before Bitcoin, but the ideal of financial freedom here could mean that some wealthy group is hoping for the emergence of a super-sophisticated, uncensored entity to secure their wealth.
Historically, whales didn't become involved immediately when the first block was mined, but gradually after Bitcoin reached a certain value and circulation. but also for the wealthy who are willing to wait a little longer.
The wealth of the rich was not secured enough before the emergence of crypto - and now it is more secure. I guess that for some wealthy group it is possible indeed.
And all the help for the poor is only the byproduct ? And the anarchist explanation that the creators provided us is only a mask ?
degen_nonceFull Member
Posts: 134 · Reputation: 434
#4Jun 17, 2017, 12:31 PM
To me cryptocurrency is for everyone who is everly ready to accept all the volatility and things that relates Bitcoin and to the entire space because this could turned someone into a big gem due to their investments and of course, not only the poor we have out there anyone can freely have access to the space to do whatever they needs than just relying on other things for wealth. Yes cryptocurrency and Bitcoin at large today has already given us the benefit of doubt that we have been enslaved by banks and government, but today anyone can freely use Bitcoin at their own spare time to make a better transaction without even waiting for the approval of third party.
Of cause, for everyone. "The poor" had the special emphasis only because in the past we were almost always in the inferior position.
Yes for sure, crypto gives people with small money a chance. You can start with little, join early projects or even earn free tokens sometimes. That is something you dont really see in things like stocks or real estate where you need bigger capital. But at the same time, it is not just for the poor. Big players and institutions are also heavily involved now. In fact, they usually have more advantage because they can move the market with large money. Simple case will be someone with $100 can buy a small coin and hope it grows, but a whale with millions can pump or dump that same coin and control the outcome. So both the poor and the rich are in crypto, just not on the same level. The ecosystem gives opportunities to everyone, but how much you benefit still depends on your knowledge, discipline and capital.
Yes, very small money (or just interest) has a great chance in crypto unlike in almost any other asset class.
Can we say that the rich tend to have advantage in absolute terms and the poor in relative terms (bigger profit per usd) ?
shard_minerSenior Member
Posts: 359 · Reputation: 1322
#8Jun 19, 2017, 09:45 PM
Crypto currency is as you stressed a tool for the poor to size up and get wealth because it provides opportunities from airdrops, yield farming or even something like creating a telegram mini app without one needing a capital to even start up, but with a laptop, and good brains.
It is just giving the poor in the society where their currency is failing, a decentralized, permission less ledger to compete with big pockets in the society and live well.
It is freedom because the poor man would be counting on high volatility to attain wealth, while the rich man would see it as a problem due to liquidation of their assets at this time of price fluctuation.
Crypto is not for everyone, don't think it is. It is for those who understands it volatility and are ready to take the risk of investment of it because not everyone can afford to lose their money in crypto, and act cool, if they invested in shitcoins not in Bitcoin because it is Bitcoin someone can invest in. They have hope that they can recover their losses.
So my point is, Bitcoin is not for everyone. It is for those who have the basic knowledge, and they understand what Bitcoin is, and the reason they are investing and hodling onto it.
Exactly. It depends on the angle you see this !
And the same is with the calculation of fundamental value. People are so used to see everything from the rich mans (insiders) viewpoint that most think sincerely that it is easier to calculate stocks fundamental values than cryptos fundamental values. And they forget that this is only an insiders view-point.
The narrative (and half-truth) "Stocks fundamental values are easier to calculate" is remarkably well marketed and most people sincerely believe in it.
They have the advantage from the very start because they have the means, the money and the capital.
As for the poor, we can't decline that in general because there have been stories who have been poor before but trusted and believed to the potential of Bitcoin.
They bought in the lowest price and the same goes with other altcoins, and then waited for years and here they are, one of the happiest people on Earth after taking so much profit.
Although profit really depends on capital and when they bought.
Of course, all the profits go to the rich, while the poor are content with crumbs from the table, receiving several tens or even hundreds of bucks. Large capital has the opportunity to invest millions of dollars at an early stage, while poor people get the opportunity to buy this token from them after TGE at a price tens or hundreds of times higher than face value.
Who invested millions of dollars at an early stage of (for example Bitcoin) ?
The first publicly known million-dollar-investors were Winklevosses but they started when BTC was already about four years old.
Right, I think the market might be unfair to the poor. Usually it is the rich who will fill their plates first and any leftovers will go to the poor. Now, usually in these leftovers, there is hardly any profits left as all of the profit was already booked by the rich who are sitting first at the table. Poor would need to make some extra effort to hunt and find those extra profits. This is also because the rich is able to invest larger sums as compared to the poor. The larger the investment is, the lower will be the risk which would increase the profit potential.
Poor would usually make such mistakes to buy tokens at higher face value. They have no other option left as the investment required at the initial stage might be too much for them. Poor will usually looking for opportunities where they can invest minimum amount but still ride the hype.
vault_2009Full Member
Posts: 198 · Reputation: 739
#15Jun 20, 2017, 10:14 PM
Even I don't think it is true. Cryptos were originally designed to renovate the payment system by introducing a decentralized layer. This does not mean that cryptos will be affordable to everyone. Especially for the poor, the don't really have that great interest in cryptos as the entry cost is too high and usually not their cup of tea.
Poor do not really care about investing or exploring digital options to store or earn money. All they focus will be their present and how to survive the future. They do not have any high hopes as they have been living the same life since they were born.
Also, I don't understand "by the poor". I don't think Satoshi might be poor by any chance as he/she/they seem much technologically advanced which might be the outcome of their expensive education.
rocket_matrixFull Member
Posts: 38 · Reputation: 370
#16Jun 21, 2017, 02:34 AM
You compared stocks and crypto but listed companies have audited reports regulations and dividend history and legal accountability which crypto often lacks. Yes there are insider advantages in stocks but crypto also sees whales coordinated pumps and insider token allocations. So it is hard to call the plan public and fair. There are pros and cons to both sides.
Hard to deny that crypto often lacks in the matter of audited reports and dividend. The good news is, such thing only happen to fake crypto projects where it is actually a centralized entity under the hood.
True crypto like bitcoin is transparent and everything is clear and recorded clearly within the ledger.
Being poor often means being uneducated and forced to work round the clock just to survive. Crypto, however, demands knowledge. Researching the right coins and having the patience to hold a position requires timesomething a poor person simply doesn't have.
This is why they fall for reckless gambles. Look at the biggest crypto Ponzi scandals: the primary victims were the poor in developing nations who lost their last savings, with some even starving to death.
In reality, crypto has become a punishment for the poor and a tool for scammers and dictators. North Korea is building nuclear bombs with stolen crypto. It seems as though crypto was created solely to destroy the world
Crypto is for everyone, both the rich and the poor so I disagree with you.
Sometimes, some rich people try to say like you said, but you know such rich people try to make more money from cryptocurrency too. They can try doing this in a good way with legit business or in a bad way with scam projects.
Cryptocurrency market since 2009 after Bitcoin creation and first altcoin months later has actually given many easy chances for getting rich but at the same time, in a same market, there is risk to get poor easily and quickly too.
Like Spot ETFs, are they from the rich or the poor?
ledger_protoFull Member
Posts: 110 · Reputation: 772
#20Jun 21, 2017, 09:33 PM
To date, investors have poured $56 billion into Bitcoin ETF, and total asset under management have reached $95 billion. I wonder how poor people can possess such large sums of money?
Cryptocurrency is an open market, accessible to everyone regardless of class, nationality, or gender. Crypto is not created exclusively for anyone in particular, and there are no barriers or restrictions on participation.
https://www.fxleaders.com/news/2026/04/15/bitcoin-etfs-see-411-million-inflows-after-goldman-sachs-filing-total-aum-hits-96-5-billion/
Related topics
- Analyzing Crypto Options: GEX, Flip Zones, Gamma Walls for Traders 1
- Insights on Crypto Market Making Services 2
- Did you actually understand what CZ meant? 19
- Do you simulate before launching arbitrage bots? 19
- What's your favorite trading style: Scalping, Day trading, or Swing trading? 19
- Which app is this for portfolio tracking? 9