Topic: Can bitcoin make someone the richest in the world? - page 12. (Read 2411 times)

Of course it can. If it could make teenagers into millionaires it can also make a millionaire a billionaire and so on.

These rich guys who were very early into Bitcoin like Richard Branson will only climb higher on the ladder of the richest people in the world.

It's even easier for a millionaire to become a billionaire with bitcoin than it is for any other person because for you a million dollars is a lot but for them it's somethimes only 1% of what they own. If they lose it's nothing but for you to lose a million would be devastating.

If bitcoin price goes on to six digits, maybe there could be known or unknown individuals who can become billionaires, so theoretically it's possible. But then again, like any other investment instruments, you should really know how to play and take advantage of the market to at least make a profit here. Just remember though that bitcoin is not the answer to poverty or instant solution to someone to make a lot of money in short amount of time. It is not a magic bean.

A rich person can invest in bitcoin but to make someone the richest in the world, it is possible but if you'll make it like that, there are a lot of other contenders if that's the category. Making someone rich through bitcoin is possible. Going with the plain category of making someone rich through bitcoin, this is much better to say because the richest people have their own technology that made them part of the richest. Zuckerberg, Bezos, Gates ,etc.

Jeff Bezos' networth is 190 billion. Satoshi Nakamoto could be owning around 1 million Bitcoins. If 1 Bitcoin would cost more than $190,000 than his networth would be more than that of Jeff Bezos', assuming it won't change, for the sake of argument. There are other individuals who hold a lot of coins, but still much less than a million coins, so Bitcoin would need to cost millions of dolllars for them to become the richest person in the world.

Possibly no because:

1. Bitcoin has a limited supply and the majority of its supply had been mined so there is a very slim chance that one person will own half of the coins.
2. Bitcoin price is highly volatile, it can crash anytime or skyrocket anytime thus making good sense investors hesitant of going all in to this cryptocurrency.
3.  Knowledgeable investors always diversify.

bitcoin is pretty new on the market despite classic currency or asset. Satoshi Nakamoto has been ranked in top 100 by Forbes (44th position).
with a net worth of 19.4 billions of USD in 2017.
I am not sure it can bring people to be the richest in the world, but for sure as nature " deflationary " it can be something interesting in a speculation perspective.

Fiat has been the currency these richest people are using because it is what is accepted by the government earlier, but know that fiat itself is an inflationary currency subjeced to depreciation by governmental manipulations, although the manipulations can be due to what could favour the country in a way foreign currencies are reserved, but devaluing the worth of the riches. Fiat does not have the opportunity bitcoin gives, you can hold fiats and the money will becoming depreciating, but unlike bitcoin, your money will appreciate.

But, know that these richests you are talking about, it is not that they deal with fiats, they make use of fiats as an exchange for goods and services, not fiats that increase their wealth and worth, it is their business that increased it. And as bitcoin is going mainstream, they will also make use of bitcoin and many other cryptocurrencies  as their payment methods.

In Africa, Aliko Dangote is the richest with $15 billion worth or so now but not amount the first 100 richest in the world again, what caused it?  It is because Nigeria government have to preserve their foreign reserve during economy recession in 2016 or so, at the time, US dollar to Nigeria Naira was 169 naira, but now at 480 naira. Dangote was able to be the 23rd richest in 2016 in the world with the worth of $23 billion but governmental manipulations to preserve their foreign reserve depreciated Naira and Dangotes worth reduced and not among the richest in the first 100 listsb since then. If Dangote have some of his worth in Bitcoin, this would have not happened, because assets did not devalue, it is the Naira that could devalue. If bitcoin had gone mainstream and dangote s using it and have some of is funds in bitcoin, he would have increased more in wealth now, and able to bypass the government manipulations to an extent and also bitcoin would have multiplied his wealth.

Bitcoin is money, and deflationary money, while fiat is money too but inflationary (depreciating), bitcoin can appreciate the value of someone's wealth, while fiat can devalue it. But know that not fiat makes those people the richest, if not for their assests and businesses they have, they will not be rich like that, and money is just a means of exchange which bitcoin can do if gone mainstream like fiats.

I came to investigate the richest man in Africa, he is not a bitcoin users, but a business man who don't depend on bitcoin investment.
The richest man in the world, he is not a bitcoin users but a business man who use fiat Money to invest and make a good profit.
Is there any way someone can use bitcoin to invest and become the richest in the world?
Your opinion is needed.