actually owning 1 bitcoin is already consider to be rich as you (as of this moment) are holding more than 30k usd in which in 3rd world country considered to be rich.
but if you are asking just this year and not telling us when did you purchase that bitcoin? then the answer is uncertain.
though if this amount of bitcoin is purchased back then when the price is below 10k then indeed you are rich today and even the whole 2023.
Topic: Can owning 1 Bitcoin make you rich in 2023? - page 4. (Read 883 times)
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With the common calculation, in today's price single bitcoin could make a person rich. In my country one can have a small house and invest a small part with which he can get a small income. Wirh the remaining he can start a small business and lead his life fulfilling the needs of the family of four.
Feeding the family as a breadwinner is the core duty of every mature minds and fitting in that shoe won't be an easy task to handle. Bitcoin is ranked first when it comes to crypto related top projects. Been in possession of 1 Bitcoin would change your story, you will drive a nice flashy car, own a house and also anticipate in a business inother to keep the money flowing in. But owning 1 bitcoin during the bear seems like a loss because there will be limited number of things to do with it. Unlike the bull period where you can purchase whatever things you want in a store.With the common calculation, in today's price single bitcoin could make a person rich. In my country one can have a small house and invest a small part with which he can get a small income. Wirh the remaining he can start a small business and lead his life fulfilling the needs of the family of four.
So, if you have 1BTC in your wallet, you already consider yourself rich compared to those who are holding just only 0.1BTC. But it doesn't mean we have to keep 1BTC forever as it only gives us profit if we sell them.
Buy, hold, and sell - this is how the crypto space works. Invest more, so we can earn more, like doing in real estate as rich people keep buying low and selling them high.
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With the common calculation, in today's price single bitcoin could make a person rich. In my country one can have a small house and invest a small part with which he can get a small income. Wirh the remaining he can start a small business and lead his life fulfilling the needs of the family of four.
Feeding the family as a breadwinner is the core duty of every mature minds and fitting in that shoe won't be an easy task to handle. Bitcoin is ranked first when it comes to crypto related top projects. Been in possession of 1 Bitcoin would change your story, you will drive a nice flashy car, own a house and also anticipate in a business inother to keep the money flowing in. But owning 1 bitcoin during the bear seems like a loss because there will be limited number of things to do with it. Unlike the bull period where you can purchase whatever things you want in a store. With the common calculation, in today's price single bitcoin could make a person rich. In my country one can have a small house and invest a small part with which he can get a small income. Wirh the remaining he can start a small business and lead his life fulfilling the needs of the family of four.
Only a few people had owned 1 BTC (or more) and perhaps, they are rich already. But if you are just an average investor and are owning now 1BTC due to continuous buying of it, you really make yourself rich, especially if you still hold them until the next bull run which is probably 2 years from now. But if you just buy 1 Bitcoin at $28,000 and then sell it at $29,000 - you're not making a huge profit from it, it was just like getting your money back into your pocket.
True, in our country, someone with one bitcoin is considered wealthy, even if we don't know how he obtained it. For me, a person who earns Bitcoin via hard labor is actually richer than a guy who earns Bitcoin with his parents' money. Bitcoin has immense worth, not in terms of price, but in terms of what it represents in the crypto space. So, if the price of Bitcoin falls significantly and there is a chance that I can afford it, I will surely buy it. And, unless there is an emergency, I would prefer not to sell it even if the price is excessively high. Because, in my opinion, if 1 BTC is lost even little, he is not considered rich anymore.
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With the common calculation, in today's price single bitcoin could make a person rich. In my country one can have a small house and invest a small part with which he can get a small income. Wirh the remaining he can start a small business and lead his life fulfilling the needs of the family of four.
With the common calculation, in today's price single bitcoin could make a person rich. In my country one can have a small house and invest a small part with which he can get a small income. Wirh the remaining he can start a small business and lead his life fulfilling the needs of the family of four.
In my country, with 1BTC, you will do things as you mentioned: you will have enough money to buy a small house for 3 to 4 people and will have some capital to start a business. And that's not going to be called being rich, it's just getting us out of poverty. So 1BTC cannot make anyone rich even if you live in an even poorer country.
What exactly does financial freedom means in context of Bitcoin?
It contains a number of points depending on how you want bitcoin to look like. If you think financial freedom is:- You're rich and can buy anything you want, so increase your bitcoin amount. I'm not going to conclude 2023 1 bitcoin is enough for this goal as we are still finishing quarter 1.
- You're free to buy anything without excessive regulatory intervention, so use a decentralized way for each of your transactions.
Due to lack of income capability which saving up on accumulating 1 whole coin would really be a tough challenge.This is why this is really that very situational if we do speak about being rich.
We arent that blind not to say that we are already that rich on the period where we do able to accumulate 1 BTC.It might be small into other places in the world but it is really that
too big in other places or corners.
So, my question is can Bitcoin give a life that I dreamt as a child.
Depends on your approach. If you can use the knowledge as good as other successful people, then you can achieve it for sure. But just seeing them being successful, don't think that you can become just like them if you follow their strategy and it will happen overnight. It's a long journey and if you have the will to sail that ship for that long, then the answer is yes. If you are going to get panicked and fall over your emotions, it's not for you. Hope that answers your question. Quote
Is it possible to gain financial freedom? What exactly does financial freedom means in context of Bitcoin?
Yes it is possible and this is the main purpose why Satoshi has created Bitcoin in the first place. Financial freedom in the context of Bitcoin refers to the ability to securely and independently managing your wealth through decentralization, without the need for traditional financial institutions or government control. It allows privacy and control over your assets. There's an article about it. You can read it here: What Is Financial Freedom? 
Being rich and poor have got different definition. For some people having daily food is rich, because 10% of the population is living without food which means trying to fill the stomach with water or something out of the waste. Around 29% of the population is living with the insecurity of food, which means people don't know whether they'll get food for tomorrow or not. So, what you call rich needs to be defined so to make calculation with one bitcoin.
With the common calculation, in today's price single bitcoin could make a person rich. In my country one can have a small house and invest a small part with which he can get a small income. Wirh the remaining he can start a small business and lead his life fulfilling the needs of the family of four.
With the common calculation, in today's price single bitcoin could make a person rich. In my country one can have a small house and invest a small part with which he can get a small income. Wirh the remaining he can start a small business and lead his life fulfilling the needs of the family of four.
My first question to you is what is financial freedom in the context of your country, her government and people?
My second question is do you have financial goals?
See Bitcoin is whatever you make of it. If you approach it with the right mindset then you'll be happy but if you approach it with the mindset that it's a get rich quick scheme, then you'll be sorry for yourself. Never do Bitcoin alone. Diversification of your investment will make you achieve your financial freedom quickly.
My second question is do you have financial goals?
See Bitcoin is whatever you make of it. If you approach it with the right mindset then you'll be happy but if you approach it with the mindset that it's a get rich quick scheme, then you'll be sorry for yourself. Never do Bitcoin alone. Diversification of your investment will make you achieve your financial freedom quickly.
If we think globally, than owning 1 Bitcoin wont make person rich in 2023, in in later years. The main reason why I think so, is that our life nowadays is so expensive, that just 1 Bitcoin wont be enough to become rich. People expect Bitcoin price to reach $100k by the end of 2023. Today, $100k isnt enough to be considered rich. In some countries plumbers for example earn more annually. And if we take most poor country, then a person that owns $100k wont live there and move to more expensive country. And there, $100k can be not enough to feel rich.
Basically, whether a person is rich or not depends on how much his living expenses are. Generally, when you have an income that is higher than your needs each month, you are already classified as a rich person. But on the other hand, some people may think that being rich is only when you have lots of money, possessions and a luxurious lifestyle, but that's not what it means to be rich.I don't think owning 1 bitcoin will automatically make someone rich in some developed countries, but of course 1 bitcoin will make you rich if you are in a poor country. Rich is very subjective in different countries, when you have 1 bitcoin, you are not rich in Qatar - but 1 bitcoin is very valuable in many Asian and African countries. But I understand what the OP is asking, 1 bitcoin will be worth a lot in 2023 but won't make you rich in some countries.
What exactly does financial freedom means in context of Bitcoin?
It contains a number of points depending on how you want bitcoin to look like. If you think financial freedom is:- You're rich and can buy anything you want, so increase your bitcoin amount. I'm not going to conclude 2023 1 bitcoin is enough for this goal as we are still finishing quarter 1.
- You're free to buy anything without excessive regulatory intervention, so use a decentralized way for each of your transactions.
I agree that bitcoin not only brings wealth but also gives us financial freedom, we are no longer completely controlled by the government. But I won't agree with you about the bank asking many questions when we go to the bank to withdraw money. I don't think it's interrogation or torture, but since they want to make sure you're the real owner, it's just a form of bank-style security to verify things. If you don't want those cumbersome procedures, you can save your money in other ways because no one is forcing you to deposit money in the bank, it's all voluntary.
I would understand if the banking procedures that cause too much hassle to their very own depositors are done solely for the sake of security, for the sake of protecting their clients' hard-earned money. The problem is that they aren't. You are even charged a fee for not keeping a certain amount of money in your account, and when you withdraw, you are also given a limit. That's ridiculous! And look at all the banking fiascoes happening in different parts of the world. You must have also heard of the current banking crisis and how those collapsed banks are giving their clients sleepless nights.
As I said, no one forced us to deposit money in the bank, it was all voluntary, and if voluntary, they had to follow the rules set by them. If you don't like it, no one is forcing you to play with them, banks are also business companies and need to be profitable, and no one works for free. Just like we are using the forum, we need to follow the rules of the forum.
Yes, I have heard about the banking crisis, and that is also the reason Satoshi created bitcoin after the 2008 crisis. But nothing is 100% safe, even if you hold bitcoin, you are still at risk of hacker attacks, and rare incidents...And you have to agree with me that no matter how bad the bank is, we still need it, and it's never going to go away. I don't advise or say that using the bank is the best, but I won't deny and won't badmouth it because we still use it every day. Bitcoin is a better option than a bank in many respects, but banking is still necessary for us.
Only a few people had owned 1 BTC (or more) and perhaps, they are rich already. But if you are just an average investor and are owning now 1BTC due to continuous buying of it, you really make yourself rich, especially if you still hold them until the next bull run which is probably 2 years from now. But if you just buy 1 Bitcoin at $28,000 and then sell it at $29,000 - you're not making a huge profit from it, it was just like getting your money back into your pocket.
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First, if you can afford to buy 1 whole bitcoin and still be very comfortable with your life and day to day expenses, then why not?, owning 1 bitcoin has the potential to indeed give you a life of financial independence, imagine buying 1 bitcoin now for $30,000, and keeping it for a few years, or for as long as it takes to sell it at $70,000, $80,000, or maybe $100,000, this is more than enough money to give anyone a head start in life, and this prices are very possible for bitcoin to attain, it can only take time, and the investor must exercise patience while holding.
This really depends on what you mean by being rich. YES, for me Bitcoin can give financial freedom. But note that this may be a long-term investment so patience is required also depending on your risk appetite, you can invest more.
If we think globally, than owning 1 Bitcoin wont make person rich in 2023, in in later years. The main reason why I think so, is that our life nowadays is so expensive, that just 1 Bitcoin wont be enough to become rich. People expect Bitcoin price to reach $100k by the end of 2023. Today, $100k isnt enough to be considered rich. In some countries plumbers for example earn more annually. And if we take most poor country, then a person that owns $100k wont live there and move to more expensive country. And there, $100k can be not enough to feel rich.
In my opinion, if we only have 1 bitcoin, I think it will be difficult to get rich, unless in 2023 or 2024 the price of bitcoin rises to 10,000,000 dollars. and we sell btc for 10,000,000 dollars. then in my opinion it can be called Rich, just by having 1 btc.
but getting rich is everyone's wish I hope we all get rich from investing in bitcoin.
but getting rich is everyone's wish I hope we all get rich from investing in bitcoin.
I agree that bitcoin not only brings wealth but also gives us financial freedom, we are no longer completely controlled by the government. But I won't agree with you about the bank asking many questions when we go to the bank to withdraw money. I don't think it's interrogation or torture, but since they want to make sure you're the real owner, it's just a form of bank-style security to verify things. If you don't want those cumbersome procedures, you can save your money in other ways because no one is forcing you to deposit money in the bank, it's all voluntary.
I would understand if the banking procedures that cause too much hassle to their very own depositors are done solely for the sake of security, for the sake of protecting their clients' hard-earned money. The problem is that they aren't. You are even charged a fee for not keeping a certain amount of money in your account, and when you withdraw, you are also given a limit. That's ridiculous! And look at all the banking fiascoes happening in different parts of the world. You must have also heard of the current banking crisis and how those collapsed banks are giving their clients sleepless nights.
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?
That 2 last question I always hear many times here, and I always get and read the same answer for that. Again, it depends on you, sometimes The financial freedom is not as freedom as we think, we still need an exact rule to implement so as not to overdo it, So, Bitcoin is free, it can be owned by everyone on every country, there is no limit even if a government country prohibits it because you can still own it by custody wallet where you own the private key. And, if the government really watches it, you can still use decentralization exchange to pair fiat to bitcoin.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!
No, Bitcoin cannot give you that life. Bitcoin is merely a decentralised currency created to for paying across the globe with ease, how can a payment mechanism make your rich? It's basically the chance to invest in it that "might" make you rich. But obviously it's already too late to enter bitcoin party for earning millions from just rags. So don't expect financial freedom just like this. What I would suggest is work hard for something and try to get your payments in bitcoin, this will make sure you are investing 100% in it and when the price goes up you'll get benefit of that. 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 depends on how much did you buy and what price did you begin. Like if you have bought it when BTC was tanking around $17k, you could have made a sweet profit today as it was now $30k+.
As for me, at least it break even the price that I have bought in the first place. In my first few months of doing DCA, the price that time was exactly $30k before it tanked hard thanks to the Terra Luna, FTX, etc.
Now I am just holding my BTCs and wait for it to skyrocket once again. I’ll keep holding and see the effect of the next halving which is a year from now.
Me im still on negative considering that i have bought on $46k until it did dropped as low as $15k as far as i remember but along the way i did make some DCA which im bit sure that im already on break even but wellAs for me, at least it break even the price that I have bought in the first place. In my first few months of doing DCA, the price that time was exactly $30k before it tanked hard thanks to the Terra Luna, FTX, etc.
Now I am just holding my BTCs and wait for it to skyrocket once again. I’ll keep holding and see the effect of the next halving which is a year from now.
as long you arent that selling on your position then it would be still considered as a total loss. Speaking about being rich then it would be entirely depending on how much you had been able to invest because
if you do only invest small then of course it would be normal that profits would be small but even if you do purchase a whole coin on 15k and with the current price of 30k
then it is x2 but its not something that you could make yourself that be called "rich".
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