A bullish case: HOW MUCH #BITCOIN to get rich and fund your lifestyle? - page 2.

CageMabok

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Quote from: fillippone on January 25, 2023, 06:29:09 PM

Today I stumbled in a Twitter thread that was quite astonishingly bullish:

HOW MUCH #BITCOIN to get rich and fund your lifestyle?

If measured by the current price of Bitcoin, I only need ten units of Bitcoin to become rich and make my life more luxurious. Because with ten units of Bitcoin I can already buy a new house, a new car and also new fields and fields for farming. But it looks like it will be difficult for me to make it happen in the near future because remembering the difficulty of getting profits and competition in making money is always in life.

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According to his computation ( I am going check on those on a later effort) just 0.6 BTC should be enough to live a decent lifestyle:

For a decent lifestyle, 0.6 BTC will be more than enough, but that much Bitcoin will still be lacking if someone spends on luxury items that can be used for their lives. Although for me the amount of 0.6 BTC is quite a lot now.

fillippone

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Quote from: Fivestar4everMVP on January 26, 2023, 03:21:26 AM

And on the other hand, investing hundreds of thousands of dollars or even millions of dollars means the individual doing that is already rich

Becoming rich is not that difficult, in the big scheme of things. One good idea, a bit of luck, or an incredible skill (think of Leo Messi) can lead you to become very rich.
The difficult part is staying rich. Securing such a luck to your heritage.
This is what Bitcoin si for.

Smartprofit

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I also believe that even if you own not one bitcoin, but only a fractional part of a bitcoin, you will become a very rich person (in the future).

Bitcoin is a deflationary asset that constantly increases in value over time. In addition, Bitcoin is a decentralized asset, independent of politics, which allows it to be used by a wide variety of market entities.

At the same time, I cannot answer the question - when will the price of Bitcoin exceed 1,000,000 US dollars? The last Bitcoin will be mined only in 2140.

Yes, the price of Bitcoin will exceed $1,000,000, but it is not known exactly when this will happen. You and I may have to wait a very long time for this event.

The Sceptical Chymist

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Quote from: Darker45 on January 25, 2023, 11:12:48 PM

Notwithstanding his math, which carries a bit of exaggeration, these are all pure speculations.

Uh, yeah. This is nothing but extremely optimistic, borderline nutty speculation. This very much reminds me of the big bull run in gold and silver leading up to 2011 when I was a member of a coin collecting forum. People would be in fantasy land, making outrageous price predictions if everyone in the world bought just one ounce of silver.

And by the way, does anyone think they would have seen a tweet like this one about two weeks ago? You only see crap like this when bitcoin is taking off like a rocket, because the euphoria clouds people's judgement. But hey, 0.6BTC might eventually make someone wealthy. Who knows?

naira

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Until recently, I felt rich for myself and my wife. Make a prosperous life and be able to meet daily needs without the need to make loans to other people or banks. So in general to others it might not be considered rich but with the freedom and ownership of Bitcoin I feel I will definitely be rich in the future. With the principle of continuing to believe and always accumulate every week or month in Bitcoin. Personally, I enjoy it and find a rich path to a better life.

NotATether

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Quote from: Fivestar4everMVP on January 26, 2023, 03:21:26 AM

In my own personal opinion, Bitcoin has made those who invested in it early rich already, right now, buying an average $100 to $1000 worth of bitcoin will never make the individual buying it rich, even if the price of bitcoin hit $100,000, except the individual is ready to wait till the year the price of 1Bitcoin hit $5,000,000 or more, which to me, is unlikely to happen in the lifetime of that individual, even in the next 100 years, its still unlikely to me.

And on the other hand, investing hundreds of thousands of dollars or even millions of dollars means the individual doing that is already rich, he or she is just looking for some, its like buying an item and reselling it for a higher price for some profit, so it is with the already rich people buying bitcoin, they are not buying it because they want to become rich, but buying to resell for profit.

Yeah.

People buying a few $1000 of BTC now and expecting it to return several million dollars of their investment in 20-30 years are in for the reality that it's just not going to happen at this point, as BTC becomes less and less volatile (plus you have the greed factor where the person trying to get rich loses all their money in an industrial sinkhole such the NFT marketplace, or in scams, during that process).

Fivestar4everMVP

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In my own personal opinion, Bitcoin has made those who invested in it early rich already, right now, buying an average $100 to $1000 worth of bitcoin will never make the individual buying it rich, even if the price of bitcoin hit $100,000, except the individual is ready to wait till the year the price of 1Bitcoin hit $5,000,000 or more, which to me, is unlikely to happen in the lifetime of that individual, even in the next 100 years, its still unlikely to me.

And on the other hand, investing hundreds of thousands of dollars or even millions of dollars means the individual doing that is already rich, he or she is just looking for some, its like buying an item and reselling it for a higher price for some profit, so it is with the already rich people buying bitcoin, they are not buying it because they want to become rich, but buying to resell for profit.

NotATether

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"get rich and fund your lifestyle"? Come on, you can do better than that.

Just having a lot of assets with zero cash flow (the bitcoin price increases are NOT cash flow) will not be enough to save you if you are hit with a series of large and unexpected bills during a bear market.

fillippone

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Quote from: adaseb on January 26, 2023, 12:21:58 AM

As many think “crypto will make me rich” it’s definitely not going to be Bitcoin. Even if it hits a new ATH and you buy here at $24K, you will maybe make 3x.

Having a 200% yield in any other financial assets it going to be spectacular, only for bitcoin 3x is considered "meh".
The point is you are thinking on a too short time horizon. We are talking about intergenerational wealth here.

adaseb

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As many think “crypto will make me rich” it’s definitely not going to be Bitcoin. Even if it hits a new ATH and you buy here at $24K, you will maybe make 3x. Unless you buy millions you won’t get rich this way.

Bitcoin and ETH would of made you rich back in 2015 or so. You could of invested $10K in both and would of made great sums of money as long as you held. Gone are those days.

Darker45

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Oh, I didn't know it was a very long entry.

He made mention of 0.008BTC being enough to have a lifestyle "far more luxurious than an upper-middle class lifestyle today." He even claimed that 75,000 Sats could become a literal life-changing amount in the future. Notwithstanding his math, which carries a bit of exaggeration, these are all pure speculations. Regardless, however, the point has always been to stack as much Sats as possible.

This man's prediction may or may not come true but, as Satoshi advised, "It might make sense just to get some in case it catches on." And every single day that Bitcoin remains alive is a day that Bitcoin grows stronger and inches toward the prophecy. So, the possibility of Bitcoin becoming bigger in the future grows every day.

Therefore, it is probably not enough to ask how much Bitcoin is enough. After all, there's no stopping now. I simply can't go like, "I already have 0.008BTC or 0.00075BTC or "0.12%" or 1% of my entire worth in Bitcoin, I could stop stacking Sats now."

fillippone

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Today I stumbled in a Twitter thread that was quite astonishingly bullish:

HOW MUCH #BITCOIN to get rich and fund your lifestyle?

An old thread here in bitcointalk resonated wit h this one:

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I am pretty confident we are the new wealthy elite, gentlemen.

source

According to his computation ( I am going check on those on a later effort) just 0.6 BTC should be enough to live a decent lifestyle:

Read the whole thread on Twitter or here

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