Topic: Can owning 1 Bitcoin make you rich in 2023? - page 8. (Read 883 times)

The rich scheme differs from every country if from developed countries maybe with $ 30K it is still relatively standard while for third world countries it may be a large amount but to measure wealth it cannot be ascertained but what is clear 1 bitcoin will cover your own costs or with other families.

Don't ever think that investing in bitcoin will get rich quick, that's the wrong thinking because we know investing in bitcoin is quite a high risk and you have to be ready to lose the point if you understand then the mindset will not be like we will think about how to survive long with bitcoin.

If you survive bitcoin for more than 1 decade, you can say that the price of bitcoin is high, then you will get a lot of wealth, but if you measure this year, you certainly won't get rich quickly with 1 BTC.

I once read a thread with almost the same title because if I'm not mistaken at that time only 0.1 bitcoin was written.
But apart from that, I actually still feel that regardless of the amount, when it comes to defining wealth, everything will be different in perspective. Everyone has their own standard of wealth. for some people 1 bitcoin will obviously make them rich, but for others it is still not enough. but of course there's nothing wrong with either of them because this really depends on the mindset and abilities you have because when we talk about wealth I think everyone will agree that no matter how much money one has it will still be said to be insufficient.

If you're seeking a way to become wealthy quickly through Bitcoin investments, then it's probable that Bitcoin is not the best option for you. However, if you're interested in taking advantage of Bitcoin's volatility and making a profit, then Bitcoin might be the perfect choice for you. Although Bitcoin can provide high returns at times, it's important not to have unrealistic expectations. It's uncertain whether you will achieve the same results as others. You should be prepared to hold onto Bitcoin for a longer duration, perhaps until 2030, in order to earn a decent income from it on a daily basis.

You have to understand that Bitcoin isn't a get rich scheme and since you're now wanting to own  Bitcoin, that's if you haven't gotten any now, I would say that, owning Bitcoin helps to fight government control over money since Bitcoin is decentralized digital currency which is controlled by just the owner.

On the long run, financial freedom all depends on your definition of it but owning one Bitcoin is already a great achievement and if the price of Bitcoin rises to a new all time high, then it is certain that you should be making twice the money you invested Wich is you're expected to $60k that's if you bought at $30k.
I think you should always do your own research (DYOR).

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...

1 BTC is helpful as a powerful booster to start an investment thinking on your future, but it won't raise your financial class status. You need much more money in every cases!

you should know that everyone in this forum has a real life and their own family and everyone is struggling to live it well!

- The definition of rich in various countries varies depending on whether you live in a poor - developing - developed country. if in my country, have 1 bitcoin (at today's price) that means you are already a rich person, if you exchange it for fiat (in my country) then you already have 1 house and 1 cheap SUV) -

but the "financial freedom" that is meant in Bitcoin is, you are in full control of your money (your own bank), you are not controlled by fiat which can be printed by the government at any time.

slowly but surely, we are heading for that freedom, starting with el salvador which made Bitcoin legal tender there, in the future there will be more and more countries emerging that make Bitcoin as a legal tender.

It depends on what comfort means to him. For some people, it's much more than just having a house, a car, and being able to afford the food they really want. They may want luxurious items like a highend car, a big house, or even bodyguards to feel truly comfortable and happy.

Having 1 BTC isn't necessarily enough to make you rich. In fact, some people could spend one Bitcoin in just one week. It really depends on where you are located and the minimum cost of living in your country. Additionally, it depends on how you want to use the money.

Some people have expensive tastes and would spend it on luxury items. On the other hand, some people can survive for a long time with one Bitcoin if they know how to budget and avoid frivolous spending.

Not at all. I mean there are many countries where 1 bitcoin will allow you to live comfortably for soime time, but for that you'd have to define "comfort"
For one person living comfortably will mean having a roof over their heads, food in the fridge, a bottle of beer and a cable tv with a match on.
Another person will define comfort as having someone come to clean the house and massage them, a swimming pool in the back yard and cooked meals delivered 3 times a day.



In the US people are often defined as high net worth when they become millionaires, but that doesn't mean they're rich. Rich people can afford whatever they imagine, that's how I understand the term.
Russian oligarchs who own yachts and private jets are rich.
Someone owning 1 bitcoin isn't wealthy, nor rich, at least not yet.

Define 'rich'. If 'rich' means being able to afford a comfortable life for some time, to go for a vacation to a nice place etc., then yes, 1 Bitcoin will likely be enough for that this year. If 'rich' means being able to afford to buy a house or even a flat somewhere in a Western country, then I don't think so. If 'rich' means having more than the majority in the world, then I think the answer is yes. The op mentions parents struggling to make ends meet. I think having 1 Bitcoin can solve that matter, but no so much because it's Bitcoin as it's because of how much Bitcoin can be sold for.

The rule of investment in risky assets is that you should only invest the amount you can afford to lose, so do you have $30k that you can afford to lose overnight?
It's not the fact that BTC would go to zero, that's a long gone fear, but there are other risks involved, so to make a really long story short, someone who can afford 30k is not something who will dramatically have his life changed if BTC goes to $300k let's say. Slide the bar to BTC to $1 mil, and things change, now it's also a thing of how much can you afford not only to invest, but also how much you can wait for your dream!


Unless you tell us, only god knows what you dreamt as a child, if those dreams include a 30-room mansion by the seaside with a tennis court and a Bugatti La Voiture Noire parked between ten other sports cars, probably not! Everyone has different dreams, some dream of a tiny house in the mountains and just a quiet and normal life, earning a bit over the median pension, some are going nuts unless you go into details no one will be able to even have an opinion on it.


Again, it depends!
For some, it means having enough assets and savings to never care about money in their whole lifetime.
For others, it means not being at the mercy of a 3rd party, with no bank, no authority, no government being able to seize your wealth.
But not that many really care about the second part anymore, the focus is on the first.

Well you must not invest in a whole bitcoin rather only invest were your strength could reach and carry because 1 bitcoin currently is very huge and not everyone can afford to loose such amount if the bear comes.

Now what it means by financial freedom, is simply because you control your finance by yourself there's no restrictions and no third party involving with your funds if you holds bitcoin, you send and spend your money with flawlessly.

First of all, to be able to buy one bitcoin you must be rich you can't possibly purchase something worth ~$30,000 when you don't have up to that amount in your possession and in my country if I should convert that money into my local currency that's a lot of cash.

If you're the type of bitcoin investor that's looking to go in for the long term, then there is a high chance of you hitting big if the price of bitcoin moves in the uptrend.

Another thing you should not is that it's never too late to invest in bitcoin, if you look at the price change of bitcoin several months ago you'll see that it has increased significantly so assuming you bought one Bitcoin three months ago you'd have had plus ~$10,000 profit.

If the life you dreamt of as a child was to use a censorship resistant and permissionless currency, then yes BTC is created for that and you can use it and enjoy that freedom, but if the life you dreamt of as a child was to be very wealthy, and you want to do that with BTC, i'm sorry you cannot, except you're an early adopter. If you mined BTC when it was just created and you have been holding since then, you would be very rich through BTC now, but if you are just adopting now how can it just make you rich, you have to first of all buy it now with another currency and hold it, and your returns or how rich you can become depend on how much BTC you can buy now, and also how long you can hold it.

I hope you know that you don't have to buy 1 BTC to own it, you can also buy very small shares if you consider that the smallest unit of BTC "satoshi" 0.00000001, and you can theoretically buy BTC worth only a few $.


It is possible to make some dreams come true by investing some money in Bitcoin, but considering that you yourself admit that you don't have any money (or that you don't have enough to buy 1 BTC), then that dream cannot come true literally overnight. If you set a goal and if you persist in it, maybe one day you will achieve your dream.

As for financial freedom, Bitcoin gives you the possibility to be your own bank, in other words to control the private keys that allow you to spend the Bitcoin you bought. Simply put, only you have control over what you own, of course if you want it and if you understand how to achieve it. You buy Bitcoin, send it to your address in a non-custodial wallet (desktop, hardware wallet) and after you make a backup and store it safely, you have your own bank

Many people can not afford to buy 0.1 BTC so if you have 1 BTC, you are richer than those people.

About rich, what is your rich definition?

You should know in many nations, $20,000 or $30,000 is a dream of many people so I am sure with 1 BTC, in 2023 or 2024, you are rich in many nations.
If you can hold your 1 BTC till 2032, it would be better and you will be richer significantly.

See Controlled supply and at the end of era 7 (starts in 2032 and ends in 2036), 99.2% of Bitcoin total supply will be available from mining. I am sure you will be much richer than now (if Bitcoin won't die in 2032 or 2036).

In the context of bitcoin financial freedom simply means having control of your money without any restrictions or regulations from the government or banks. Imagine wanting to send some funds to someone outside the country and the government puts a restriction of the certain amount that can be sent this could be frustrating but with bitcoin it doesn’t have this kind of restriction.

Nonetheless I need to point out something that bitcoin isn’t a get rich quick scheme so having this narrative that you could be super rich with it is a bad mindset getting. Yes there is profit for a an investment done but that is possible some that can hold the coins for a very longer time.

Also you don’t necessarily need to hold 1btc but can purchase fractions of it (satoshi) and as the price increases they also rise in value. The clear rule in investing into bitcoin is to invest an amount that is losable. This is clear because of some certain downturn periods (bearish period) that bitcoin faces.

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!