Topic: How much Bitcoin do you think you would need to hold to become a millionaire? - page 3. (Read 3571 times)

It's a Ricky-ism from Trailer Park Boys, but yeah, always good to be prepared for worst case Ontario too.

I would like to say 100 and wait for 10k a piece, but I think that's unrealistic within five years but maybe when/if bitcoin goes full mainstream. I think bitcoin can hit $1000, though within the next five years.

At least 500 and probably more like 1500.

Here's a thought... In 5 years, just how much will $1 million be worth? Will it buy a fine suit? Or a loaf of bread?

Actually he provided the only guaranteed  answer - sell the 5000 BTC today and hold on to the cash for 5 years.

On a more speculative level, I think 500 coins should very easily turn into a million in 5 years.

it's really simple.   

$1000000 / btc price = how many you need.

If you hold onto it for 20 years maybe only 1 BTC 

That depends on how much the price would be in five years , I would say it would be 1200$ / USD or dead  pretty sure that not the price of now since there would be less bitcoin in 2016 Q4 (halving block reward)

21,000,000 BTC

Amount of fiat currency from all countries in circulation 170 Trillion
USD Debt 17 Trillion
amount of dilution under QE program % of debt growing 1Trillion annually

1,000,000 is not going to buy much in 5 years...

At $200 USD per coin 5 coins per $1000, a million bucks is 1000x1000
so 5 coins would have to rise 1000X to be worth a million seems unlikely short term

$10,000 x 100x or 100,000 x 10x seems more realistic. So 50 $200 coins or 500 $200 coins might work

if the fiat currency was backed by gold, bitcoin would not be as necessary,
In a crisis the volatility is the unknown that can make you a profit.

Looking back to 2008 at 0.05 per BTC, you needed 1000 coins, held until $1000 and you would of made
$1,000,000 there is a different mining scenario now which I think requires more thought...

Inflation is when money supply creates too much price inflection, the market for BTC capitulated because the 100000 coins being auction by the fed created uncertainty, once the market knows what rice they fetch, that will be the new price range. The more users pile in at these prices the more bitcoin has growth potential. I predict the oil crash will crash the energy bond market by June by 30%, triggering bankruptcies... Bitcoin will have a good summer, the fed is stuck printing money forever.. All the bad news for stocks, oil, bonds will push people into BTC when they see the rate of acceleration and returns. this is a hiccup. Long live BTC.

well, we are at $217+ at the moment. So, accept it!

I'm still pondering if you meant worst case Scenario or if that was a snide remark at a certain capital  
You know your ready for the Worst Case Ontario if you have 50 BTC saved up

I think 100 is a nice number to shoot for.

100 * 10000 = One Million Dollars

well with the prices dramatically changing like they are you would at least have to have 6,000+ to see a semi comfortable $1,000,000 spot.

Easiest answer in the book.  1 million Bitcoins!   

To be a Bitcoin millionaire, you need to amass 1 million BTC which would be quite a feat.

By time this occurs though, Bitcoin would become the main currency, and fiat value wouldn't matter.

If you're thinking more short term, like in the 10-20 years window, you'd probably just need 100 BTC or so.

I would like to have 1 coin valued at some 6 figures in 10 years.

I will also go with 100 bitcoins.

If you would be willing to wait up to twenty years, I think a dozen bitcoins would be more than enough.

I'd say the average optimist or bull, or there abouts, would presume that $5-10k a coin should be a reality during the next normal rally (ie. not like the one that happened last spring). So, place your bets on when that'll be, ya know w/ the ETFs and all the related boosting that would happen during such a time. This year, maybe, the following- perhaps more likely. Nobody knows when the next surprise factor will take place and most people aren't trying to discredit themselves nor their account here by looking at the stars and signing off on a date. We could be on the cusp of a weird upside-to sideways- to upside and again movement before going moon (see, not trying to get the future to look back negatively on me ) and then whatever else. If the past was a guide and we all know how that goes, we'll get my opening statement sometime this year or next and you'll need around 100 bitcoins to reach millionaire status. But, let's face it, anyone hovering in the 5-10 coin category should be having a new standard of life if all goes well. As it stands, 90%+ of everyone here has been beat down in their soul and enthusiasm because of the last year or so, so there's obviously a skewed takeaway value that everyone is getting from reading here - and I feel real sorry for noobs looking for guidance from allegedly seasoned and skilled veterans here. That was a mouthful!

I'd say 100 bitcoins should enough

I wish it too

If all goes well, I think 100 should be sufficient. Might take 10 years.

go to work first and then you can dream.

if you rely your life  on Bitcoin....pffff  LOL