How rich would I be? - page 5. | Bitcointalksearch.org

Wakate

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Quote from: Cryptomultiplier on February 23, 2023, 01:13:57 PM

For those of us who have been exposed to cryptocurrency and have had to believe in its continued existence by delving into its use;
How rich could I be if I use DCA strategy to invest in Bitcoin continuously until it reaches its 21million limit? Knowing how much it has gotten to now at 19.15million.
How long would be a long time in years for this limit to be reached and what opportunities would be made available to those who invested in owing these coins and still do as at the time?
Will those who earn from campaigns, offer services online or conduct business with cryptocurrency be so rich, seeing that they have been in the game long and have accessed or have access in the form of holdings or savings or have its coins as payment in one form or another?

Whatsoever strategy you want to use, you are still going to become a rich person if your investments worth. If you are investing large amount of capital into Bitcoin then be prepared to become a Bitcoin millionaire in time coming. The strategy that many Bitcoin millionaires had been using since beginning was buying and holding. They don't care if the market will fall or rise, what you know is they will keep buying and holding till they are satisfied of there holdings. We need to mimic a investing strategy that would work for us since the market is still pretty down and below a level that investment would worth it.

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Quote from: Cryptomultiplier on February 23, 2023, 01:13:57 PM

For those of us who have been exposed to cryptocurrency and have had to believe in its continued existence by delving into its use;
How rich could I be if I use DCA strategy to invest in Bitcoin continuously until it reaches its 21million limit? Knowing how much it has gotten to now at 19.15million.
How long would be a long time in years for this limit to be reached and what opportunities would be made available to those who invested in owing these coins and still do as at the time?
Will those who earn from campaigns, offer services online or conduct business with cryptocurrency be so rich, seeing that they have been in the game long and have accessed or have access in the form of holdings or savings or have its coins as payment in one form or another?

Ok few questions as i have no idea what you are talking about. You are asking how rich how rich without providing any numbers of how much you are investing via DCA or when. Are you talking past or future?

Since from the start there are like couple of people that could have predicted what would happen and those people was called crazy. So why would you think anyone of us would know what the price would be in the future if no one saw this coming few years ago?

Hydrogen

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Quote from: Cryptomultiplier on February 23, 2023, 01:13:57 PM

How rich could I be if I use DCA strategy to invest in Bitcoin continuously until it reaches its 21million limit? Knowing how much it has gotten to now at 19.15million.

Will those who earn from campaigns, offer services online or conduct business with cryptocurrency be so rich, seeing that they have been in the game long and have accessed or have access in the form of holdings or savings or have its coins as payment in one form or another?

In terms of pure market mechanics, I think we can look at old collectibles to determine what the natural price trend for deflationary assets like bitcoin should be. Most baseball cards printed in 2023 likely won't be worth much. But over time the limited edition minted items will become increasingly scarce, leading to consistent price hikes. Bitcoin's price trend should follow a similar pattern.

But of course, bitcoin's value is also determined by speculation and trading from hedge funds and other assorted high liquidity investors who buy and sell in large volume. Then we have regulators and lawmakers who are creating laws relating to stablecoins and crypto in general.

All of these factors, and assorted other variables combine to determine what the eventual price will be. It can be impossible to know what the outcome will be, without a time machine. Even if people can guess the correct outcome, they probably could not describe the series of steps which led to it.

romero121

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DCA unlike the price until bitcoin reach its 21 million limit will give you the best. For all users who believe they're late to the market can prefer DCA for long term. Surely this will make you one in a million. Holding one bitcoin when the entire 21 million mined is really big based on the present market and valuation. Over time we'll see higher usage as well as higher acceptance.

We can't be calculative on the price or how this makes you rich, but we can believe that it won't let you down.

BenCodie

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The limit will not be reached for a very, very long time. There will probably be a stage where Bitcoin fulfills its initial prophecy as a form of "electronic cash" and one of the elements of true cash is that its value is stable enough to be a viable payment method. There will probably come a stage where the value provides miners with an opportunity where the price of Bitcoin won't matter to profitability, probably because the reward (even after halving) will be exponentially greater than the energy required to mine it. At this stage volatility will significantly reduce, probably after an exponential value increase that validates the aforementioned...then, there will be almost no point in the DCA strategy because Bitcoin will not be seen as an investment product but rather as a form of money.

Assuming this scenario plays out, DCA'ing from now until Bitcoin fulfills the electronic cash prophecy will probably leave you at least much better off than anyone who does not pay any/enough attention to Bitcoin over the next decade. So, why not start now?

virasisog

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If you will risk a bigger capital, you can gain a bigger profit if you will hold and wait for the bull market to approach which is challenging especially if you are not good at handling your emotions. If you focus on trying to get rich without being able to manage the risks, there's also a possibility that you'll have a bigger loss. Your fate will depend on the market situation as well as how you reach your target goal. Just keep in mind that nothing is consistent in the cryptocurrency world.

coolcoinz

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You'd have to give us some numbers to begin with, for instance how much you'd be investing each month and what's your starting point.
Even with that it would be very hard to do the math because bitcoin has only 13 years of data and some of this time bitcoin wasn't actively traded or was traded only on 1 or 2 exchanges with very low volume. How would you predict what's going to happen in another 100 years when you only have 10% of that to use as template?

We can assume that there will be a bull market with every halving, so let's say you're going to be around for another 50 years, so 12 bull markets. If you manage to get 1 bitcoin by 2024 you can expect it to be worth a million dollars in 2036, and that's just 3 cycles.

PrivacyG

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Quote from: Cryptomultiplier on February 23, 2023, 01:13:57 PM

How rich could I be if I use DCA strategy to invest in Bitcoin continuously until it reaches its 21million limit?

You will be dead by then. All of us will. Unless they find a way to immortality.

Members who joined Signature Campaigns in the first years of Bitcoin Talk and held on to the Coins until today are now rich. Will we be as well if we hold on to our Coins for a decade? Maybe. Maybe not.

The only advantage you get from holding for years is you earn more purchasing power. Bitcoin is not the kind of system giving immunity and unlimited strength to the Rich while disadvantaging the Poor.

Nothing is guaranteed. It is all hope and predictions based on more or less reliable information.

-
Regards,
PrivacyG

hugeblack

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It depends on your definition of a rich punch and on the amount that you can invest every month, day or week. For example, investing a dollar per day will give a return less than investing ten dollars from investing a thousand.
The amount of one million dollars is considered wealth in one country and an ordinary amount in another.
you can calculate it here ----> https://dcabtc.com/

palle11

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You are probably writing much of assumptions. How do you think there is guarantee that you keep making profit from Dollar Cost Average? Remember the price of bitcoin consistently fluctuate and that means your hodling will also not be stable. Another question is how long do you want to be around before the end of bitcoin mining? Hodling for longer period isn't totally the only way to get profit from bitcoin but using the business strategy of buying cheap and selling when price is high is averagely profitable.

Lanatsa

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Quote from: Cryptomultiplier on February 23, 2023, 01:13:57 PM

For those of us who have been exposed to cryptocurrency and have had to believe in its continued existence by delving into its use;
How rich could I be if I use DCA strategy to invest in Bitcoin continuously until it reaches its 21million limit? Knowing how much it has gotten to now at 19.15million.
How long would be a long time in years for this limit to be reached and what opportunities would be made available to those who invested in owing these coins and still do as at the time?
Will those who earn from campaigns, offer services online or conduct business with cryptocurrency be so rich, seeing that they have been in the game long and have accessed or have access in the form of holdings or savings or have its coins as payment in one form or another?

When we do talk about price or value then it would be basing on the ff;

1. Demand/Recognition
2. Adoption
3. Regulation aspects

If you do make use of DCA strategy then it is really that something good but dont expect that you would really get rich because everything would really be depending on how much you had invested.
Plus if you are asking on when the last bitcoin would be mined then it would be playing around 2130-40 as far as i remember on which i dont really think that it would really
be making you in concern.

Ryu_Ar1

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DCA until bitcoin runs out? I make sure when the bitcoin runs out we won't even exist in the world Cheesy

It's not meant to be condescending because if you look at the current age with the bitcoin supply that will run out in about a century, then why do you expect too much.
DCA is indeed very good, but we must also be aware that investment is for our guarantee in old age so that we can enjoy the results that we plant today, so it is clear that when we have reached a time that requires us to relax, we are ready to enjoy our investment. without having to mess around with DCA anymore.

Fortify

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Quote from: Cryptomultiplier on February 23, 2023, 01:13:57 PM

For those of us who have been exposed to cryptocurrency and have had to believe in its continued existence by delving into its use;
How rich could I be if I use DCA strategy to invest in Bitcoin continuously until it reaches its 21million limit? Knowing how much it has gotten to now at 19.15million.
How long would be a long time in years for this limit to be reached and what opportunities would be made available to those who invested in owing these coins and still do as at the time?
Will those who earn from campaigns, offer services online or conduct business with cryptocurrency be so rich, seeing that they have been in the game long and have accessed or have access in the form of holdings or savings or have its coins as payment in one form or another?

You seem very confused by the mathematics and concept of dollar cost averaging entirely, it doesn't make any sense in this context. Bitcoin does not have a predefined trajectory, it's value has moved up and down over time. If you started buying at $30,000 up to $60,000, you would currently be sitting on a loss in your "invested" money. If you're buying now and it does creep up over time, your invested amount could be worth more when you decide to sell out. Judging by the fact that only roughly 5% are left to enter circulation, it almost has no relevance and you could say the existing circulation amount is the expected long term value (which may change in future).

bittraffic

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They say early adopters are the richest among Bitcoin users, it's true when they hold though. Some of them probably have a business related to crypto already.

It depends on you if you keep holding your BTC until the price hits $1M as some personalities have predicted.
Campaign participants have kept some coins while in a campaign but it's not really that easy to hold when they are also gambling and trading as well. It keeps them busy but also loses money. I say this because I myself am doing it.

goaldigger

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If the prediction is correct, you can be more rich more than you can imagine but of course there is always risk so better to be ready and just expect nothing because that is investment, and there’s always a risk for that. Anyway, it will take more years because we reach that limit so for sure you already have a lot of Bitcoin by that time and if the price goes high as predicted, that will be a good opportunity for you to take profit. Just remember that there’s always a pump and dump trend, we can’t expect a straight up trend.

Ultegra134

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It's likely that you and all of us will be dead by then. As time passes, mining difficulty increases; thus, fewer and fewer coins will be put into circulation. It might sound like a petty amount, but approximately 2 million coins will take decades to be mined. I believe that your post is hypothetical, but you should keep accumulating through DCA; anything below $25,000 is basically a bargain. It's unlikely that you or the majority of us will become rich in the upcoming 10 years, but we'll definitely make some decent money by then.

panganib999

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Quote from: Cryptomultiplier on February 23, 2023, 01:13:57 PM

For those of us who have been exposed to cryptocurrency and have had to believe in its continued existence by delving into its use;
How rich could I be if I use DCA strategy to invest in Bitcoin continuously until it reaches its 21million limit? Knowing how much it has gotten to now at 19.15million.
How long would be a long time in years for this limit to be reached and what opportunities would be made available to those who invested in owing these coins and still do as at the time?
Will those who earn from campaigns, offer services online or conduct business with cryptocurrency be so rich, seeing that they have been in the game long and have accessed or have access in the form of holdings or savings or have its coins as payment in one form or another?

Depends really. DCA is just a strategy that would allow you to recover losses while at the same time earning more, which in itself is highly dependent on the chance that the asset you are DCA-ing is to increase in value over a lengthy period of time to maximize your investments. As for your question of reaching 21 million bitcoins, I think that's quite impossible because just reaching that final 1 million would take you hundreds of years to deplete, but I'll humor you for the sake of argument. I think, and you can correct me if I am wrong, you could become a millionaire or maybe even a multimillionaire of around 150 million through DCA alone, provided that bitcoin continues increasing in value until you reach that last morsel of Satoshi.

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Quote from: Cryptomultiplier on February 23, 2023, 01:13:57 PM

For those of us who have been exposed to cryptocurrency and have had to believe in its continued existence by delving into its use;
How rich could I be if I use DCA strategy to invest in Bitcoin continuously until it reaches its 21million limit? Knowing how much it has gotten to now at 19.15million.
How long would be a long time in years for this limit to be reached and what opportunities would be made available to those who invested in owing these coins and still do as at the time?
Will those who earn from campaigns, offer services online or conduct business with cryptocurrency be so rich, seeing that they have been in the game long and have accessed or have access in the form of holdings or savings or have its coins as payment in one form or another?

Unless some breakthrough is achieved which allows current humans to live for a lot longer then no one which can read your post will be alive by the time the last bitcoin is mined, you do not need to think so long term when it comes to bitcoin, as long as you can invest a moderate amount of money each month for at least a decade the returns you will get out of that investment will be incredible, and if you can increase that amount by offering your services then the faster those benefits will come to you.

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Quote from: Cryptomultiplier on February 23, 2023, 01:13:57 PM

For those of us who have been exposed to cryptocurrency and have had to believe in its continued existence by delving into its use;
How rich could I be if I use DCA strategy to invest in Bitcoin continuously until it reaches its 21million limit? Knowing how much it has gotten to now at 19.15million.
How long would be a long time in years for this limit to be reached and what opportunities would be made available to those who invested in owing these coins and still do as at the time?

No one knows the future but it's an effective strategy and you'll surely get to see decent profits along your way for the next upcoming years.
And we're likely all dead by that time until the entire supply limit of 21 million for bitcoin have been mined.

Quote from: Cryptomultiplier on February 23, 2023, 01:13:57 PM

Will those who earn from campaigns, offer services online or conduct business with cryptocurrency be so rich, seeing that they have been in the game long and have accessed or have access in the form of holdings or savings or have its coins as payment in one form or another?

Not all that participates into those are keeping the bitcoins that they earn. Many are likely selling it for their personal usage and converts it into fiat for covering their needs. Those that are rich are the ones who have been early into this space and bought a lot and also those consistent ones that has never sold or probably sold a few of bitcoin before until they see the price gotten up to their expected price.

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Quote from: Cryptomultiplier on February 23, 2023, 01:13:57 PM

For those of us who have been exposed to cryptocurrency and have had to believe in its continued existence by delving into its use;
How rich could I be if I use DCA strategy to invest in Bitcoin continuously until it reaches its 21million limit? Knowing how much it has gotten to now at 19.15million.

According to my information, the completion of mining the last Bitcoin will be by the year 2140 if I am not mistaken. Are you sure that you would like to invest in different forms to become rich after mining the entire 21 million Bitcoins?
I am not knowledgeable enough to give investment advice, but I can assure you that if you only invested $1,000 5-7 years ago, you would have multiplied it many times over. And you can imagine if you invested more amounts in the same period. There are many ways to invest, but no one can assure you when you might become rich or how much you have to invest.

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