Topic: [HOT]Bitcoin is getting rich quickly? (Read 707 times)

That example clearly implies that the person investing is very rich. 100 Bitcoin at the current price is $1,000,000.
Therefore this man from your example is already rich even before he starts investing in cryptocurrency  

Anyway, most of the people who thinks Bitcoin is a get rich quick scheme was left disappointed lol.
There's no short cut in earning good profit. That example ain't easy, you don't expect to sell that massive amount of Bitcoin all at the same time.

I would call that a lucky moment. If you can double your money in 3 days, you are so lucky, and not all people can do the same as you. But as you already get another experience, indeed, trading does not always win because sometimes, we can get lost too, and if we don't know how to minimize the risk, the lost will be bigger. So bitcoin is not a getting rich quickly scheme because we need to hard work every day and every time. After all, the market will always change.

Getting rich in bitcoin in just a second is very impossible to happen. There is no person become rich immediately because it takes time. When you invest now you can't also get the profit now. Specially if you only have small amount of capital to invest. Also making a huge profit out of bitcoin is just a matter of luck and patience.

I came to bitcoin in May,2017. After I started trading I doubled my money only in 3days. Then I thought it is a great way to earn money for a girl like me. I can easily get richer by this method. But after only 1weeks reality show me the real face of it. You can't always win a trade. But if you can win 70% of your trade than there is a good chance for increasing your money.

After all I don't think that BTC is a getting rich quickly scheme. For some it maybe but for me it's not.

he was only using that amount as an example because its clear that the amount was too high enough that a regular people wont afford it but maybe whales can   .  small amount of capital does not also mean that you cant earn a good profit  . its still possible as long as you hodl for a long  time  that your capital already grew by 3 to 5 times   .  also huge capital does not also means that you can only earn big  , ofc huge risk also awaits you  . i saw many big investors loose just because of doing a  wrong move  .

That is true, but do you have such capital?

Actually trading crypto currency (bitcoin/altcoin) it is depends on your capital. You will have a high chance to gain profit shortly if you have a huge capital. You don't need bitcoin only, you have a chance to buy some altcoin like ADA or ETC which is their price are trying to increase.

But you have to aware with risk that will be faced, an example you buy bitcoin $9000 but its price is decrease to $8800 in one second you will be lose much as well. Bitcoin (and I've been considered that altcoin can do that as well) can make you getting rich quickly but it is otherwise when the coin that you buy decreased you will go bankrupt quickly.

More risk ... more profit

If we don't have the ability and knowledge to adapt, then the chances are getting smaller, only luck can save. So, to increase opportunities for profit, we must understand the risks involved and determine the right strategy to minimize those risks. We should know that like other investment products, investing in cryptocurrency also has risks, even greater because of its high volatility. If there is an opportunity: get rich quick with Bitcoin, then the opportunity to lose is also equal.

I agree that bitcoin can make rich quickly, there are already many people who are lucky to buy bitcoin when prices are dumping.
Then not long bitcoin price pump and can take profit. Because the price of bitcoin is volatile it is very possible getting rich quickly,
even though it is actually people when getting rich quickly just got lucky. And also the amount of capital used also affects the profit
that we produce. The greater the capital used, the greater the profit we make.

Now take another example OP, suppose you brought bitcoin at $20k and in a day the price went to $16k, now please calculate the losses and see whether bitcoins is get rich quick scheme or more of a hold for a lifetime scheme. I guess you can clearly see by this post that only an experienced person can see past minor market fluctuations and also should be patient enough to wait to see profits and not sell at the time of panic selling in the market.

Yes i also think so it can make you rich quickly but lets not forget that it also jumps down everything has two sides suppose if you bought a a bitcoin costing 2000dollars and it goes down to 1500dollars in just a week then you'll have to wait till it goes up and it can take some time but you'll have to wait on the other hand it could also go to 3000 dollars risk factor is always there bro. Still i think that bitcoin can give you high returns.

Getting rich quick with Bitcoin and other cryptos is not a guarantee. Yes, you can be lucky but it won't always happen that way. You can buy today and see a massive bearish candle breaking your heart.

I’m not really sure what we are discussing here..how to get rich quickly, should you utilize these types of strategies to try and get rich quickly or ? I often get asked by my clients about marijuana stocks. Most have little no financial education or experience so my first step is crushing their dreams ( marijuana stocks have a long way to go for high growth and many hurdles right now so it’s very very risky Just like BTC). But then I ask , do you have a bank account with a few months rent in it? Do you have your retirement plan in place and are you on track to meet your goals? Do you have an outside trading account with some mid term investments? If so, then sure try and hit some home runs, but be prepared to accept significant and quick losses.

To the avg person who has no idea how to trade or any technical analysis savvy ..just dont do it.

That's the thought that often makes a newbie trapped at a loss. Too profit-oriented so they use all means and offers because he thinks he can get wealth instantly with Bitcoin. In fact, it's not like that.

Many fraudsters.

Many scammers.

Market movements are very extreme.

Comparable with the opportunities available, the risk of loss is also large. It takes great luck if you can get instant benefits without learning and adapting in this ecosystem. So are you only going to rely on luck?

Its really good to have those money or capacity on investing but we know that it wont really be that simple because pressure and stress would be there since we know that we are putting 100BTC

even if you are a whale then that number of coins is already a lot and how much more for us small time traders which are only capable on hundreds to thousand bucks investment?

Risk=management would really be the main thing, it doesnt matter if you do put up big or small but chances of profiting is just the same.

This proves that the more money you invest, the greater your chances of making a profit. I imagine what if a large investor bought 100 bitcoin at a price of $4,500 to $5,000 some time ago and sold it today. Really this is just a fantasy like flying without wings because we can only daydream.

I never had that much capital, in fact I had to sell most of my assets to own $ 10,000. We are small traders with $100 - $1000 capital, but we have at least a small profit. Imagining big profits will only help pump up enthusiasm and motivation to be able to produce something bigger.

You have a valid point here, but not anyone has access to 100 bitcoins if you but that amount at $9k which means an investment of $900,000... So, there are tons of investments who will pay that 1% profit with lower risk. Your example doesn't work if our investment is small or something like $100.

Well, fingers crossed, eh.

These are officially weird times so anything could happen. The signs are there for some explosive action in the next couple of years but it requires enough flush people to follow through and make it a reality.

You can't plan your future around a cycle that's only happened twice so far. Third time lucky maybe.

Yes you are right Bitcoin can make people rich quickly and this happens in every market be it stock market or crypto market and I agree volatility is much high in Bitcoin market but every coin has two side if Bitcoin can make you rich quickly than it can make you poor easily and quickly.These markets are based on mixture of luck and knowledge,if both triggered at right time than you are rich and if luck factor is Missing than your poor.

That is not something like that to play the market. Maybe you cant cover the fees when buying and selling Bitcoin on the exchange.
Remember that buying on exchange is different from selling price. It doesn't make sense at all if you are planning on this way of making a profit in Bitcoin. You will not quickly reach that. Invest in the long term and monitor the market price movement is the best way.

Yeah very true, imagine these whales injecting millions of dollars in bitcoin that makes it pump then the small ones will see this is a rally start so they'll get to it after a 3% to 5% increase after the whale did inject, they pulled it out making 2% to 4% of his money. See how big is the opportunity of the rich unlike the average and poor ones? This where goes the saying rich getting richer, and poor getting poorer. It's sad right ?

I've seen enough of the market, from ups and downs, from heavily speculated price to failures, naah, numbers do speak a lot in here but the time? I don't think it matters. Whether the interval is 4 years it is still not a subject for 2021 discussion that the price will soar, coz any time it might rise if we all want to. Decentralization is making a lot of sense now, no one's in control nothing goes wrong.

Yes, given the purpose of Bitcoin and how volatile it is, I don't think it should even be considered as a 'get rich quickly' scheme. All those people who bought BTC during the ATH (when it cost around $20k) lost immense amounts of money and are still 50% short of what they spent on the purchase after 2.5 years (if they were holding the whole time). It's an easy to win with BTC as it is to lose, especially short-term.
And speaking of the example by gidobeen, if one has enough money to buy 100 BTC, this person is already rich, and $500-$1k is next to nothing for this person.

I think the topic you are opening is good for trading because it is you are the luckiest person and the riches one once you made an investment into the bitcoin in just 9k dollar market value and you make a profit when the price goes up into 9010 dollars it is quite impossible that you can get a lot of profit on just that movement even an investment you cannot earn double up your money like not but in trading, it is quite possible because we are using the market volatile to make more money.

On investment, there is a possible chance that you only earn ten (10) percent or less on your profit if the market moves up into 1k dollars. In trading, you can make a lot of earning because of the market margin this may help you to double your funds immediately which is a good and instant profit I think you got a misconception on the use of the bitcoin. Read more and learn more also learn from the comments and suggestions by the other people.

You are correct some points if we are not going to consider the fees here your calculations are correct you could really earn that amount easily. Buying low and selling it for the high, it's still the best method.

It is just how the market works the higher the volume you buy for sure when the market price of bitcoin spikes the higher the profit you are going to get, but it was a big investment since you are buying a high volume of bitcoin also investing in high volume includes a big risk the easier you could earn a big profit the riskier its gets since when the market price drop even for a low amount you could easily lose a big amount of money.

Lol, you will make a flood in market in the case,
When you buy 100 BTC at the moment of price is 9000$
Then the price can go 10,000$ in seconds, this will make all sell, and price will go very low, and if won't happen, then you will sell at 9010$ and the price will go 7000$ or low in seconds,,,

The high amount the high change at price

This is the simple reason whales get richer at each little opportunity. Just imagine the little profit but great when multiplied by the huge investment of $900,000. How many people can afford such capital to invest in? Not many, anyway.


What happened in 2013 also happened in 2017. It's an interval of 4 years. The same is expected to happen in 2021. It's the after effect of Bitcoin halving. From record, Bitcoin soars out of reach a year after every halving.

Well you first need to have the proper capital to do that.
You also need to know the risks of course. This is where my main way of thinking comes along: only invest as much as you are willing to lose.

In fact, it would have been a lot of fun. When I first invested in bitcoin money, I was very excited. I bought $1k bitcoin at night. I bought $1K bitcoin. I slept at night and woke up in the morning to find $800 in my $1k bitcoin. The situation that happened then cannot be explained to me. I can't explain what happened then. I was very scared. Anyway, I like your calculations now. It would have been better if that was the case, but it takes a lot of money to do that now.

LOL

I don't know if the OP even have that capability to buy such huge amount of btc. I don't think he will be here if he has a lot of money though. But if in case you have huge amount of money, you can really do short trading because the bitcoin's price changes so many times within 24 hrs, you just need to make sure that you are selling higher than what you bought it, and presto you have profit already within 24 hr period.

You can get someprofit, but in case of Bitcoin it's as short-sided as it gets. BTC is more unpredictable than anything, and it's a matter of luck in many cases

Discuss what?I can't buy 100BTC even if I sell my house and my car.
If you buy 100BTC you will spend 900,000 USD and your profit will be less than 1000 USD.
Your profit will be less than 1% of your investment,so why should you care about such small profit.
If I could spend 900K USD on something,I would definitely buy some super fancy car and get some hot girls as my girlfriends.I wouldn't care about Bitcoin at all.
Why not getting a x100 margin credit on some cryptocurrency exchange platform,buy some BTC,wait for the price to go up and then pay off the margin credit and cash out the profit minus fees.
No crypto trading platform will give you 100BTC as a margin credit for leverage trading.

You made it sound so easy but we have to face reality and be more realistic here owning 100 BTC or even 10 is so damn hard for a normal person so how could they get rich quickly on your given example?
You also didn't put up the risk on doing this quick trades like it would always go up when we buy it things could also end up the other way so we should know more and give a realistic example and explanation to properly guide the newbies about crypto or Bitcoin.
If this is how you would present or teach newbie's on how to earn in crypto then I hope you haven't started recruiting others to invest because they could certainly lose their investment instead of earning here.

see the opposite.
buy 100 btc at 9000$ and price go down at 8990$, in a second you sold and you have lost around 1000$ + 500$ in fees.
Bitcoin is getting rich poor quickly?

I was in the same situation of gentlemand. I have bought my first coins in 2013-2014 (before the big hype of 2014) and just in few weeks I have seen btc value go literally to the moon. A lot of people have wasted a lot of money buying and selling coins during the worst period. Price have been very low for several months (years).
I have seen topic for helping people (avoid suicide) and other depressive stuff of people that are searching these "get quick rich scheme".
If you're taking part of this revolution with this mentality it's very easy lose a lot of money...

Sure you might be able to loan some money from some friends, but do you want to risk your friendship on something that might not go up for months or even years? The last all-time-high was back in 2017... so who says after you loaned that money to buy bitcoins, the price would not drop and only recover in a few years from today?

A lot of people used their credit cards to buy bitcoins in 2017 and within hours the price dropped drastically, so much so that they had to sell at a massive loss, just to recover some money. My friend do not buy bitcoins with credit or loans, because it is not going to end well for you. 

  This is certainly cool, but do not forget that Bitcoin is still a high-risk asset and you can lose a lot instead of making money. Let's remember the last example that gave us all a lesson in the month of March.

Ever heard of trading O? Because you're acting like you hae not.

Many people make a living of such trades. They're called day traders and they buy, wait for a few minutes, sometimes a few hours and in the end of the day have a profit of $100 with a very small risk and capital usually like 20 thousand dollars or something. They do the same thing the next day and so on earning a few thousand every month. It's a normal job for them.

Some people even do arbitrage trading buying on one exchange and  selling on a different one to take advantage of the premium.

As soon as a sufficient number of projects appeared in which altcoins compete for the right to have demand, luck was not the most important factor for the opportunity to get rich. Success was very important. Success is based not only on probabilities and luck, it is often a consequence of intention, intuition and intelligence. For Bitcoin, these opportunities closed after about 2012.

Getting rich in bitcoin is just a matter of luck. Maybe if you buy bitcoin from the beginning when it was created or from 2009 then sold during the all time high at the end of 2018 then maybe you already riched man now. But if you say getting rich in just a seconds ,it's very impossible specially now.

I invested in forex long time ago- but in lose

I don't believe in safe investment because everything in crypto when we are talking about investing is risky. So regardless of the strategy you have, either short term or long term, you can't guarantee that you'll make profit easily, if I may ask, have you made a profit already investing in a certain coin?

Lucky enough if everyone would have the same experience in the example you have provided but that would not be a guarantee.

We cannot predict the volatility of bitcoin, its price could change in a minute and if you just join in then the price fell down at the same time so you would lose everything in your portfolio really quick. On the other hand, some may get a chance to earn high in a short span of time but I am sure that profit will not make them rich because the volatility of bitcoin doesn't secure anyone on how and when it will give us the best time to earn high.

That being said not all investors are lucky to earn profit and get rich in the crypto world in as easy as 1, 2, 3 everyone must have enough knowledge, strategy, and most important is time.

Yes, agree you
But if you have many rich friends it won't be problem

Well, what you have said is the truth and that is the reason why it is always good to invest with a large capital. However, you must know that if the reverse happen you will lose part of the money too and that is the reason why for any investment, risk is always involved. Another important point you should also take note that if you are trading with huge capital, it is very good you trade on platform with high traders for higher liquidity. With such platform, your order are  get filled easily.

A newbie in the house just spitting newbie information to different people here .

What you said was right but it needs a huge capital in order for that to happen. 100 BTC at around $9000 per BTC is already $900,000. If you are the one who bought that huge amount and you see that you've earned $1000, I believe that you will be wanting to have more profit and will wait more hoping that you will get some profit.

On the other hand, we know already that huge money in investing equals to a huge risk too. What if your bias doesn't happen?? If it goes down 10$ then it you will lose 1000$. I know your point but doing this kind of thing isn't easier as you are saying it. Not all have the capability to invest that huge amount of money lols.

Considering you do have that much money to invest I do think you are already rich .

This is ofcourse a valid point but at the same time you do need to understand that you cannot predict what would happen the next instant , if accidentally the Bitcoins loose value , then the opposite would be true too , you can actually loose the same amount .

There are softwares that one can use to sell their Bitcoins when the price is on a certain point , some do send you notifications .

But one should understand that Bitcoins is not just about making you rich overnight, Its volatility does make make it a more easier and a more riskier asset to trade in but at the same time it comes with good returns which is attractive to a lot of Young traders .

Plus there is something that people should stop doing *Taking money from someone else to actually buy Bitcoins *
You can make a good profit and return them on time,but at the same time you might have to wait years . One cannot just put a tag on the next price .

I do think what you described can be taken as short term trading. You can get lucky once or twice but it does need a lot of practice at the same time it's more of an ART , this if you think you will continue to earn profit , you should think again .

One needs to be actively involved in the market , they do need to understand the meaning behind every news that comes related to the Bitcoins. At the same time people need to be ready to loose money too . Holding is an option if you still think you can make a lot of profit , but people who do miss the high have to wait for a long long time and that is why I said * do not take money from someone else * it might turn bad Preety fast.

It's a really hard job , one needs to be cautious, calculate everything really well . I do hope you can understand how hard it is to write it down in words and then use it practically.

It's really easy to say it, but if you try it yourself... you'll learn what is Easier said than done. I can said, you're lucky while you buy bitcoin... the price will pump and you can sell it to gain a bit profit. Since the length between buy and sell is only a few seconds, it's called as trading.

The interesting news is here Day Trading Bitcoin: Why 95% of Traders Lose Money and Fail. Bitcoin price is very volatile, you should be careful about it. Trading without any analysis, management risk and only hope the price will increase... is very similar like gambling. Your chance is 50/50, either win or lose.

Wake up man, where you can get loans worth 900.000$ from people and without interest? LOL, cryptocurrency is very risky dude, I hope you think twice before taking loans from someone.

I mean getting loans from people, without interest(sure), then i can make 1 bitcoin in few minutes, then return the money to people, and my deal is success without risk ( as i will hold no more seconds. )

One who has the money to invest in Bitcoin $900 000 will not get rich by profiting only $500, so I don’t see how anyone can get rich this way and why they would sell at all if price is change for only $10. But if someone invested $900k and bought 100 BTC, then selling at $10k would make a very nice profit of $100 000 which already makes some sense.


It’s a free market, supply and demand or call it whatever you want. There is always a risk with investing in something extremely volatile such as Bitcoin, but similar things can happen to you if you invest in stocks. You are investing in a stock today, and tomorrow some catastrophic news appears that practically destroys the company overnight and the shares fall sharply.

While it may not be a real comparison, take the example of Apple which in 2018 became a company worth $1 trillion, but shortly thereafter the value of the company was almost halved. Those who invested in those stocks at the time lost money unless they waited for the company to recover and reach the same or higher value again.

From my point of view, 100 Bitcoin investor never wish to sell their coins to gain only 500 USD profit. They can only gain maximum profits by holding their coins for future. No one can be rich in seconds. It will take time to get rich.

Personally, I don't prefer long-term like waiting for 10x , because when it lose 10x,you will say yourself why i didn't sold at when my profit is 10k dollars for example, for the reason i prefer the more safe

the fluctuation in price is high --- i used to think same --- anytime you buy, sell it when it's 100$ and buy again when 100$ down. But i learned bitcoin is most profitable and stress-free when you hold to sell it for 10x.

Easy to say but when you are the actual situation then do you really believe that it would really be that simple to make 1000 bucks ? I dont think so.If you do think up positively then it do really give out some positive boost into your emotions but when you do saw the price is declining and the market is gradually eating up your portfolio.? Can you assure that you wont panic or do make some panic sell? You cant really tell if you wont
experience it but making money is possible on every movement the market makes.It will just depend into your entry point which would really require analysis because if you do enter on the wrong timing then
expect for you to have high chances on negative profits and end up on holding for long time.

it's true, if you have 100 BTC then the price goes up 0.1% then the profit can be huge, looks very simple but in fact, it's not that simple

when you have 100 BTC, greed will overwhelm you, if you are new to Bitcoin, you will have difficulty controlling yourself and then lose big

I always thought to make money in crypto you have to hold and if everyone just held the bitcoin or altcoins they have and didn't sell the prices would jump but if someone sees they can sell just to make a buck they do so and causes the price to jump up and down and for most timing the market doesn't work out.

My intention is, in light of the Bitcoin events daily, it rarely happens in the day, and at the moment you buy this, you want to tell me that the 2018 event will repeat, then this will really be called a real trick, because the event is rare, and why it will happen in seconds my deal!

And unfortunately, I personally do not have the money to buy that much Bitcoin. So, it is only like a dream for me counting the profits.  

BTW, this is the calculation about getting profits from the Bitcoin.

Please remember that in the crypto world, there are Profit and Loss as the risk. If you can calculate the big amount of the profits, we can also calculate the similar big amount of the loss.

For example, someone bought 10 BTC on $9k, the price drops significantly like what happened in 2018. It always dropped and dropped every day, Waiting for the price to rise up and nothing happens. The asset drops -50%. And then, he felt so frustrated and stressed because his $90000 turns into only $45000.

From here, do you get the point?
the point is in the crypto world, there is always profits and loss as the risk. we cannot only expect too much on the profits, moreover, if we are newcomers in the crypto world, but we can also not only imagine and hope for the big profits only. For, the market is volatile. Although we may be able to hold the asset to turn higher again, not all people can do that because of some certain conditions. It means that sometimes, they will cut losses by selling at a low price.

We will be very happy about the profits, but, never forget the possibility of the loss in order to prepare ourselves, our mental, and also our financial if facing some unwilling condition.

And then the price went to $3000 in 30 minutes, then you got nervous and then panic and you sold. My point is that bitcoin is very volatile asset, it's not that easy to make money, you can literally go from boom to bust. No one can even time the market to go on a "buy position" like the scenario you picture. Theoretically you are correct, but in practice it will not be always the case.

Obviously you make profit in just a very short term, that's less than a minute in the example you given, however, you are only looking at one side of the coin here, investors will not find a risk in investing here if they don't believe they could also suffer a lose.

Individuals like you when suffered losses would then blame Bitcoin and certify it as a Ponzi scheme. Bitcoin was never a quick rich money scheme. It has shown a significant growth through the years.

You cannot become rich by quoting your example, you can loose everything if the price dives back to 6k level, then you migh have to wait a year or so for it to again come back to 9k level.

But i see all the books of bitcoin pointers, it seems big business, if you're going to see luck, so you mean bitcoin converting from 9000$ to 100,000$

In the case it will be called luck. But if you track the price on any exchange you will see the price isn't stop, high - down - high - down

This is applicable if you're a whale and you like the risk that you're taking. Having the 'getting rich quickly with bitcoin' mindset is likely to pull yourself down.

You can create your own strategy base from the example you have given and it can be done. But do invest the amount that you can afford to lose even with the slightest fluctuation, you might feel the greed and won't turn to sell.

That you are lucky enough that after buying the market just pumps and that was amazing since you'll think of selling it right away unlike the others who just hold and wait for a little more. May you will find it good at this time but don't get surprised that at some time you will experiences losses.

To tell you friend that, there is no instant making money in Bitcoin investment, it was just a lucky and in perfect time that the situation goes like that. And you should also be aware about the volatility and that it changes everything in every minute. That if you come into the trading when the market is already high, you're certainly got not perfect and profitable but if you started buying during the bear season, that we could expect a big gain in the coming days.

My darling, I have done all I can.

Getting rich quickly with Bitcoin is largely a matter of luck followed by the discipline to leave before it collapses again. I don't have a great deal of either.

Many people get the shit kicked out of them and have to stick it out to benefit on the other side.

You make wrong opinion and is not true when making bitcoin is getting rich quickly, I know many people become rich with bitcoin and altcoin but they need process and take time, most of them have lost much money because wrong investing and some time get profit on bigger investment coin, never give this words for new investor try to make bitcoin as getting quickly rich.

Can you specify more?, Dear friend

I got into Bitcoin just before the bubble of 2013. One week later it exploded and carried on exploding for weeks.

'Holy shit. This is incredible. It's like a money fountain. I am set, baby.'

After eight orgasmic weeks 2014 arrived and kicked my balls through the top of my head. I was in the red for the best part of three long and agonising years. It got there in the end. It sure as shit made me work for it.

Let's give an example of you bought 100 BTC at 9000$ Price and the price went 9010$ in seconds then you sold, so your profit will be 1000$, may 500$ fees, but the another 500$ you made it profit in seconds!

Let's discuss at the point!