Can owning 1 Bitcoin make you rich in 2023?

Litzki1990

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Quote from: Sebas.tian on April 19, 2023, 01:13:23 AM

Bitcoin has hit $30,000 in this month of April, I believe it will reach $80,000 before the end of this year 2023 to make many investors Rich in their various environment.

Currently the price of one bit is fluctuating between $30K. If $30K is converted into our country's local currency, no person can be considered rich for that money.
If he owns $30K, he is not considered rich, but with this $30K, a man can include himself in the list of rich people if he wants. The reason you mentioned here yourself.

If the Bitcoin market touches $80K by the end of 2023, then converting 1 BTC will make him a rich man. And later he can use that money to take himself to a much bigger position. But now anyone who owns one BTC equivalent of Bitcoin is literally a rich person.

Sayeds56

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Quote from: wiss19 on April 17, 2023, 04:09:35 AM

And financial freedom doesn't only mean having a lot of money, especially when it comes to Bitcoin. Financial freedom also means that you are totally free to spend your money anywhere you want without any restrictions or problems or being questioned by anyone, and by anyone I mean a central authority.

It is true that having substantial amount of wealth can bring financial stability but as you said you should be able to spend it to buy goods and services without any restriction. However it is important to note authorities in almost every country question source of income when they discover huge sums of funds in bank accounts. Additionally, paying taxes on spending is a national obligation and it is mandatory in most of the countries. Therefore, every individual must comply with spending limits of the respective country of their residence.

inthelongrun

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Most of us want to become rich but it is not recommended to put all your money into bitcoin just because of your dream that this currency is the one that will change your life. We still need to work harder and look for more streams of income in order for us to have enough savings and allocate some of it into bitcoin and other assets.

Owning 1 bitcoin does not make you rich in a short time. Maybe it will in the long run. But if in case you will sell it now, it is enough for you to do a lot like starting a business.

balotelli

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If your definition of rich here is "having a lot of money", then with 1BTC, it is likely that you will become rich in the next 3-5 years.

However, there are quite a few perspectives, and I believe that money alone doesn't make one wealthy.

leonair

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Quote from: Pierre 2 on April 19, 2023, 12:31:38 AM

If you can count 30k-40k levels as being rich it can OP. But I think for someone to call himself/herself rich, I think he/should have at least a million dollars. 1 Bitcoin can't hit a million dollars in couple of months time for sure. But I can assure you that 1 Bitcoin will make you far more richer in 2014, it will definitely hit 100k in this halving period. Last bull run from 15k to 30k was very enjoyable period of small time profit making, real deal will happen next year in my opinion.

Even though the price of Bitcoin is still very low, $30k is still needed to buy 1 Bitcoin, which is still a huge amount. Buying whole 1 bitcoin is very risky as it is profitable as well as high risk of loss. But 1 Bitcoin can definitely make a person rich. If you buy 1 bitcoin now you need $30K and if it crosses $100k and you can hold until then you will be a rich man. here $70k is your profit.

Quote from: Sebas.tian on April 19, 2023, 01:13:23 AM

Yes, 1 Bitcoin can make you rich in my country because 1 Bitcoin to our currency is a big money that will help you to start a good business and still have enough money to do other things that will make your family not to lack feeding in your home. But in some developed countries, this 1 Bitcoin will not make someone rich because the cost of commodities over there are very high compared to my country where cost of commodities are very low for investors to improve their wealth easily in the land. Since the price of Bitcoin has hit $30,000 in this month of April, I believe it will reach $80,000 before the end of this year 2023 to make many investors Rich in their various environment.

1 btc is a huge amount for all countries. As per the current price 1 Bitcoin is now $30k which is enough to start a small business. Again if it exceeds $100k then it is possible to start a big business with this amount from where it is possible to earn millions of dollars. And if a person wants to reduce unnecessary expenses, he can spend his whole life with $100K. So it can definitely be considered as a wealthy state. so it can definitely be said that 1 Bitcoin can make a person rich

Sebas.tian

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Yes, 1 Bitcoin can make you rich in my country because 1 Bitcoin to our currency is a big money that will help you to start a good business and still have enough money to do other things that will make your family not to lack feeding in your home. But in some developed countries, this 1 Bitcoin will not make someone rich because the cost of commodities over there are very high compared to my country where cost of commodities are very low for investors to improve their wealth easily in the land. Since the price of Bitcoin has hit $30,000 in this month of April, I believe it will reach $80,000 before the end of this year 2023 to make many investors Rich in their various environment.

Pierre 2

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If you can count 30k-40k levels as being rich it can OP. But I think for someone to call himself/herself rich, I think he/should have at least a million dollars. 1 Bitcoin can't hit a million dollars in couple of months time for sure. But I can assure you that 1 Bitcoin will make you far more richer in 2014, it will definitely hit 100k in this halving period. Last bull run from 15k to 30k was very enjoyable period of small time profit making, real deal will happen next year in my opinion.

Jwest

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Quote from: Bureau on April 11, 2023, 09:34:54 AM

I came to know about Bitcoin as everyone here did it was from my friend. I was living as usual a life controlled by the government and its banks. I was not angry about my life, still I had the anger to be someone who can succeed.

I had somewhat good childhood but I always saw my parents struggling to get those fiat. It did saddened me as I saw my parents living a routine life and still did not enjoy it.

Now I know why they were always struggling to get the ends meet. I do not.know whether anyone here can relate to the same experience of my parents

When I understood the true potential of Bitcoin. I joined this forum as I am not someone who can spare the money required to invest for 1BTC.

So, my question is can Bitcoin give a life that I dreamt as a child. Is it possible to gain financial freedom? What exactly does financial freedom means in context of Bitcoin?

# Please ignore my typo and spelling mistake.

Thanks!

From what you said here.... Buying 1 btc literally means you're rich..
But note this... You can buy BTC with lesser amount of $.... BTC is volatile in price movement.. so the assurance of making reasonable profits is clear.... Only for long term investments... Don't expect an immediate turn up.. you might get disappointed...

WeThePe0ple

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Quote from: Assface16678 on April 18, 2023, 09:11:27 AM

It's possible to make you rich in bitcoin but that is not a quick rich, you should wait and wait and lastly wait. Bitcoin is a long term investment, you'll just need to be patience and when the time has come and bitcoin reach over $1 Million then don't hesitate to sell it.

Imagine all those guys who bought a Lamborghini with all of their BTC profits in 2016.
If they had kept the BTC until 2040, they could have bought 300 Lamborghinis and 10 mansions in New York City.

mendace

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Quote from: Nrcewker on April 18, 2023, 11:40:46 AM

So if you are millionaire, then you are rich? You are trying to say that if you have million dollars worth of Bitcoins then you no longer will work and try to earn money? According to me there is no limit to a person’s hunger for money, so no matter how much money you have, you will still wish to make more. Yes this year Bitcoins might hit a new ATH and might cross 100k. I also know that for many people this won’t be sufficient, hence I would suggest everyone to accumulate as many Bitcoins as you can and hold the coins for atleast 4 years. Then only you can see huge changes in profits.

In my opinion it is wrong to give a value when one could try to get 1btc=1btc and I will never stop saying this, even if it would not mind to see bitcoin over 100k it would be a good revenge for those who throw mud in the face of btc.

Nrcewker

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Don't think in this year it will go higher than 100k. It will bring you some money but not gonna make you millioner

So if you are millionaire, then you are rich? You are trying to say that if you have million dollars worth of Bitcoins then you no longer will work and try to earn money? According to me there is no limit to a person’s hunger for money, so no matter how much money you have, you will still wish to make more. Yes this year Bitcoins might hit a new ATH and might cross 100k. I also know that for many people this won’t be sufficient, hence I would suggest everyone to accumulate as many Bitcoins as you can and hold the coins for atleast 4 years. Then only you can see huge changes in profits.

KaizenJujustsu

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Quote from: uneng on April 11, 2023, 02:26:58 PM

No, 1 BTC won't be enough to become rich. Imagine you don't have any properties and goods and that you have to build your entire financial life with just 1 Bitcoin. The maximum you will be able to acquire with that money is a house or a car. Then how are you going to get rich this way? From where are you going to get money to maintain a house or a car? How will you generate income for a living? A single Bitcoin isn't enough, even if you live on the poorest nation in the world, I suppose...

If thats how you define 'rich' maybe some are still consider themself as poor or average. If they are they comfortable in life, they buy the things they like and they are happy with it, they surpassed what they call rich people. Also if they are planning to hold this 1 BTC they can get a higher or lower price, its the owner risk to take. Like ETH, BTC is also worthwhile long-term investment. However, they are extremely volatile. That means large price movements over short periods are common.

This 1 btc can also help you to try other investment not only Bitcoin. What I mean is in real life investments.

Assface16678

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Quote from: Bureau on April 11, 2023, 09:34:54 AM

I came to know about Bitcoin as everyone here did it was from my friend. I was living as usual a life controlled by the government and its banks. I was not angry about my life, still I had the anger to be someone who can succeed.

I had somewhat good childhood but I always saw my parents struggling to get those fiat. It did saddened me as I saw my parents living a routine life and still did not enjoy it.

Now I know why they were always struggling to get the ends meet. I do not.know whether anyone here can relate to the same experience of my parents

When I understood the true potential of Bitcoin. I joined this forum as I am not someone who can spare the money required to invest for 1BTC.

So, my question is can Bitcoin give a life that I dreamt as a child. Is it possible to gain financial freedom? What exactly does financial freedom means in context of Bitcoin?

# Please ignore my typo and spelling mistake.

Thanks!

It's possible to make you rich in bitcoin but that is not a quick rich, you should wait and wait and lastly wait. Bitcoin is a long term investment, you'll just need to be patience and when the time has come and bitcoin reach over $1 Million then don't hesitate to sell it. Its hard to hold a bitcoin and you're financially difficult because like what i said it's a long term process, you can't have a instant profit in bitcoin so it's useless if you invest your money in bitcoin then the other day you sell it because you need it for your daily life. You need to be financially stable just to invest a bitcoin and when the time has come, you will be rich no matter what happen because I or we have hope in this cryptocurrency blow up.

BenCodie

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You will need a bit more patience than the remaining 7 to 8 months of this year for Bitcoin to make you rich. Bitcoin can definitely make you rich, but not in the time frame that you are hoping for. In my opinion, it will take up to three more halvings (my projection is two, but lets be conservative) which will take around 8 to 9 years to be able to safely say that 1 BTC will make you fiat-rich. This does not include the rise in cost of living until that point. It is possible that owning 1 BTC might make you well off in that period of time, but after converting to fiat your purchasing power will be similar to what it is now. No one can say for sure on that matter of inflation and the fate of the economies during this period of time.

To give you a healthier perspective, think of Bitcoin as a lifeboat. Not a rocket ship. Unless you are constantly growing the amount of BTC you have, you shouldn't rely on 1 BTC to give you a luxurious lifestyle and eternal wealth.

Becassine

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To really know if you are rich with a bitcoin, you need to be able to compare the average income in different countries :

According to the following statistics and if we consider the price of bitcoin at 30,000 dollars, this represents 2.84 months of salary in Monaco and 857 months in Madagascar (71.42 years). The average life expectancy in Madagascar is 65 years, so this represents a lifetime. (but peanuts in Monaco).

https://www.donneesmondiales.com/revenu-moyen.php

GideonGono

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Quote from: Bureau on April 11, 2023, 09:34:54 AM

I came to know about Bitcoin as everyone here did it was from my friend. I was living as usual a life controlled by the government and its banks. I was not angry about my life, still I had the anger to be someone who can succeed.

I had somewhat good childhood but I always saw my parents struggling to get those fiat. It did saddened me as I saw my parents living a routine life and still did not enjoy it.

Now I know why they were always struggling to get the ends meet. I do not.know whether anyone here can relate to the same experience of my parents

When I understood the true potential of Bitcoin. I joined this forum as I am not someone who can spare the money required to invest for 1BTC.

So, my question is can Bitcoin give a life that I dreamt as a child. Is it possible to gain financial freedom? What exactly does financial freedom means in context of Bitcoin?

# Please ignore my typo and spelling mistake.

Thanks!

First I would like to answet the title of this thread: Yes owning 1 Bitcoin can make you rich, but it depends on which country or the average cost of living in your country would cost.
Yes crypto could give you a better life but it would always depends on your skill as a trader or investor.
I guess we all have different definition of Financial Freedom, for me Financial Freedom is when you don't need to worry about everything financial you are living a comfortable life where you could pay your bills eat food that you want and also have some savings and investments.

xSkylarx

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Quote from: ?? on ??

Don't think in this year it will go higher than 100k. It will bring you some money but not gonna make you millioner

That is huge and I think this will take more years also being a millionaire is depends on the country you are in because 1 Bitcoin with the current price right now is already millionaire on us and it is pretty huge money and we can be called rich but those in first world country it is still not a millionaire, so still it depends what country you are in.

wiss19

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Well, it basically depends on where you live and how much money is considered rich in your country/region. The definition of being rich is probably different for different people living in different parts of the world, so it's not really guessable if a person will be rich by having a certain amount of money if the place of their residence is unknown.

And financial freedom doesn't only mean having a lot of money, especially when it comes to Bitcoin. Financial freedom also means that you are totally free to spend your money anywhere you want without any restrictions or problems or being questioned by anyone, and by anyone I mean a central authority.

Faisal2202

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Quote from: Bureau on April 11, 2023, 09:34:54 AM

So, my question is can Bitcoin give a life that I dreamt as a child. Is it possible to gain financial freedom? What exactly does financial freedom means in context of Bitcoin?
Thanks!

I think you should read the history of BTC origin, because back in 2008, there was recession and people faced hell lot of difficulties. If you were not in your conscious state in that time as i were not, because i was only of 7 years old.

You should read this brief explanation first. Secondly, You Should read this thread, in which you will understand why there was a need of currency that could provide financial freedom to middle class people because in 2008's financial crisis, the most effected category of peoples were middle class.

So, yes. BTC is a currency of financial freedom and you can make hell lot of money by acquiring BTC but in the long run. And you also asked if you acquire 1 BTC than can you become rich i must say, every person has different perception of richness some consider themselves rich at $50,000, some at $100,000. Everyone has their own richness level. I do not get to know what's your richness level but i can tell one thing that, at most Bitcoin can go for forty to fifty thousand dollars.

Now see for yourself that if your wealth level is in this range then you are rich otherwise not. But in the long run BTC has great potential to cross $100,000 easily. But it's not a financial advice you have to do your own research.

blockman

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Quote from: JayTrain on April 15, 2023, 04:13:54 PM

It's understandable that you want to achieve financial freedom and have a better life than what your parents had. Bitcoin can be a tool to help you achieve that, but it's important to remember that there are no guarantees in investing. Financial freedom means having enough money to cover your expenses without relying on a 9-5 job or anyone else. Bitcoin has the potential to provide that kind of freedom, but it's not a guaranteed path to success.

That's right, the risk remains but the chances are too high that this is the right tool that someday will make someone financially free. But in able to achieve financial freedom, there will be a lot of things to be sacrificed for an individual to achieve it.
And one of them is to be disciplined in money management, frugal living, and able to save as much as he can. Also, avoid those late-night parties and nonsense subscriptions.
Those are just a few of what needed to be sacrificed for someone to achieve financial freedom because the money that will be spent there needs to get into an investment, into bitcoin and that shall give the confidence for someone who's aiming this goal and that's not impossible.

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