You can gain more money by trading other cryptos, but the risk is bigger (especially the risk that they deprecate compared to bitcoin, eating your profits that way).
That said, I read today that the average return on investments for ico's was >1000%, so there are ways to make more money than bitcoin.
Topic: BITCOIN won't make you rich! Quantity is important? (Read 516 times)
I understand what you are getting, yes that true that quantity is the easiest way to earn in this kind of business. The only question here now is, what to buy, which one of the alt will surely increase
i remember reading something very similar to this topic back when bitcoin was about $600ish or maybe lower. i was actually searching for it to find and post it here but i didn't succeed in finding it.
in any case this way of thinking that "bitcoin won't give you profit just because you are later than others" is nothing new. for years people have been complaining about this and price keeps rising and they complain even more but BTC price keeps rising more and more
it is also combined with another false belief that just because bitcoin could go from nothing (practically 1-10 cents) to nearly $6000 then they think altcoins that worth nothing can rise too! and reality has already proven that this has never been possible because altcoins have not yet been adopted outside of exchanges for anything meaningful!
in any case this way of thinking that "bitcoin won't give you profit just because you are later than others" is nothing new. for years people have been complaining about this and price keeps rising and they complain even more but BTC price keeps rising more and more
it is also combined with another false belief that just because bitcoin could go from nothing (practically 1-10 cents) to nearly $6000 then they think altcoins that worth nothing can rise too! and reality has already proven that this has never been possible because altcoins have not yet been adopted outside of exchanges for anything meaningful!
The ultimate goal of people should not be getting rich with bitcoin, if you make profit it is okay. I think there are not many people who got rich buying in 2011
If I look through this board, I get the feeling that getting rich with btc is exactly the goal many people have in mind
By now I guess that the best strategy is diversification, since you cannot reasonable foresee which coins will be successful in the long run.
Yes you have a point. The big cap coins can be ok investments but if you want to make more you need altcoims. Try to get into them early when the cap is low. Also look into coins with airdrops such as deeponion. No way you can lose and a great way to get in early
The ultimate goal of people should not be getting rich with bitcoin, if you make profit it is okay. I think there are not many people who got rich buying in 2011
Hello Friends,
I am new in cryptocurrency world. But as far as I understand so far, quantity is very important to make some one rich.
For example if someone purchase one Bitcoin for $5000 and hold it for years, how much well off he can be in future? Bitcoin may rise to $25k but still he wont be rich.
Even if a person bought only one bitcoin at 2009, he would still not be rich today with just one bitcoin. He will only have $5k. All the statistics that we see that will make some one millionaire it is only if some one had hundreds of bitocins!
So, is it good idea to spend $5000 to buy just one bitcoin or spend that money to buy thousands of other coin that has potential to grow? Which one has the potential to make some one millionaire at present considering Bitcoin price is almost out of reach $5k/bitcoin ?
Thanks
I like your thinking, however, you have understand that bitcoin can make you rich, it will depend on how much you are willing to invest into bitcoin. The are some people with thousands of btc. I am new in cryptocurrency world. But as far as I understand so far, quantity is very important to make some one rich.
For example if someone purchase one Bitcoin for $5000 and hold it for years, how much well off he can be in future? Bitcoin may rise to $25k but still he wont be rich.
Even if a person bought only one bitcoin at 2009, he would still not be rich today with just one bitcoin. He will only have $5k. All the statistics that we see that will make some one millionaire it is only if some one had hundreds of bitocins!
So, is it good idea to spend $5000 to buy just one bitcoin or spend that money to buy thousands of other coin that has potential to grow? Which one has the potential to make some one millionaire at present considering Bitcoin price is almost out of reach $5k/bitcoin ?
Thanks
But if you can afford only one bitcoin, then best thing to do will be to use that bitcoin to buy into altcoins, those altcoins you buy might make you have more bitcoin years later.
I agree that you need to find steady/healthy alts if you're looking for that big growth. Especially if you don't already have millions to play with 
What you are really talking about is % appreciation, the price of the coin is irrelevant.
I think that btc have more chances of making 200/300/400% gains than any other altcoin, so I'll stick with them.
I think that btc have more chances of making 200/300/400% gains than any other altcoin, so I'll stick with them.
is 400% is the gain you are looking for?
Quantity of bitcoins is important for the same reason that if you have 1 dollar you are poor and if you have 1 million dollars you are rich.
I agree with you, you need a good number of Bitcoin, but of course, your location is also important if you are living in a country where the ratio of 1 dollar to 50 pesos just like in our country where one bitcoin is enough to give you a decent lifestyle number of bitcoin and location is a big factor .
First you should decide how much risk you want to take. Bitcoin is very safe compared to every Altcoin. Its true if you find a good Altcoin you can get rich fast but on the other hand it can also be worth nearly nothing soon.
Yes quantity is a big factor to become richer a one person. But it's depend on your location. Here in my country if you have 1 bitcoin investment and 1 bitcoin now is equivalent to 5,000 USD. after 1 year of your investment and 1 bitcoin increase in 25,000 USD your will become instant millionaire in one year here in my country. Like you said quantity is big factor to achieve your to become rich through bitcoin.
Hello Friends,
I am new in cryptocurrency world. But as far as I understand so far, quantity is very important to make some one rich.
For example if someone purchase one Bitcoin for $5000 and hold it for years, how much well off he can be in future? Bitcoin may rise to $25k but still he wont be rich.
Even if a person bought only one bitcoin at 2009, he would still not be rich today with just one bitcoin. He will only have $5k. All the statistics that we see that will make some one millionaire it is only if some one had hundreds of bitocins!
So, is it good idea to spend $5000 to buy just one bitcoin or spend that money to buy thousands of other coin that has potential to grow? Which one has the potential to make some one millionaire at present considering Bitcoin price is almost out of reach $5k/bitcoin ?
Thanks
You will be rich if you buy 10 bitcoins now worth 5k $, 5 * 10 = 50,000 $.I am new in cryptocurrency world. But as far as I understand so far, quantity is very important to make some one rich.
For example if someone purchase one Bitcoin for $5000 and hold it for years, how much well off he can be in future? Bitcoin may rise to $25k but still he wont be rich.
Even if a person bought only one bitcoin at 2009, he would still not be rich today with just one bitcoin. He will only have $5k. All the statistics that we see that will make some one millionaire it is only if some one had hundreds of bitocins!
So, is it good idea to spend $5000 to buy just one bitcoin or spend that money to buy thousands of other coin that has potential to grow? Which one has the potential to make some one millionaire at present considering Bitcoin price is almost out of reach $5k/bitcoin ?
Thanks
in the next 10 years the lowest bitcoin price in the 10k $ prediction, you try to calculate. 10 * 10 = 100k $.
You will be rich.
What you are really talking about is % appreciation, the price of the coin is irrelevant.
I think that btc have more chances of making 200/300/400% gains than any other altcoin, so I'll stick with them.
I think that btc have more chances of making 200/300/400% gains than any other altcoin, so I'll stick with them.
To me it's the opposite, yes btc can go to 10k 15k 20k etc. But ultimately it's much easier for a good alt to go from 20 cents to 2 dollars.
The trick is to increase the amount of BTC consistently. Flipping and trading plays a big part in making capital gains. Definitely quantity is the most important to be rich! The problem and obstacle to solve is how to make successful trades most of the time and make many right moves on the capital we have to multiply it. Exponential growth!
indeed the quantity determines the number of results obtained from the value of bitcoin exchange. but in choosing an investment I prefer altcoin rather than investing it all on bitcoin
Quantity is important but check different altcoins, don't put all your money in one coin.
I totally agree. Diversify if need be.
i completely disagree. read what i wrote under my avatar. it is not a joke.
first of all the percentage of the profit is important not the amount. everyone can afford to invest a certain amount of money not unlimited. someone is willing to invest $100, someone else $1 million. both can make the same percentage profit. but second person takes a much bigger risk and in case of loss his loss will be much bigger.
secondly there is a difference between a solid investment with (moderately) low risk but high reward (being bitcoin). versus a high risk high reward investment.
if you invest in bitcoin, the chances of making profit are there and are good.
if you invest in altcoins the chances of making profit are there but they are low and you must have to be a trader and understand how to do it.
with bitcoin you can "invest" and make profit over time. with altcoins you have to trade and make profit.
first of all the percentage of the profit is important not the amount. everyone can afford to invest a certain amount of money not unlimited. someone is willing to invest $100, someone else $1 million. both can make the same percentage profit. but second person takes a much bigger risk and in case of loss his loss will be much bigger.
secondly there is a difference between a solid investment with (moderately) low risk but high reward (being bitcoin). versus a high risk high reward investment.
if you invest in bitcoin, the chances of making profit are there and are good.
if you invest in altcoins the chances of making profit are there but they are low and you must have to be a trader and understand how to do it.
with bitcoin you can "invest" and make profit over time. with altcoins you have to trade and make profit.
Totally agreed! There is no miracles which can make you millionaire with 100$ investment. The reward is always correlates with the investment (and multiplied by time of patience).
Bitcoin could go to 1million or back to 1000. Quantity is indeed important, but it's important as well to spread your funds. High reward is equal to high risk most of the time though. Getting rich is not as easy, as everyone would be otherwise. Let's hope we go to the moon together
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