How to become a bitcoin millionaire | Bitcointalksearch.org

Professor Plums

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Quote from: kokoarm on May 25, 2014, 11:20:56 AM

we all know what it means - someone who has become a millionaire in USD from investing in bitcoin.

if the community decide that is what the term means then that is what it means and that how terms become real.

Not just USD but whatever your own fiat currencies is.

Cryptopher

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Keep it dense, yeah?

Quote from: kokoarm on May 25, 2014, 11:20:56 AM

we all know what it means - someone who has become a millionaire in USD from investing in bitcoin.

if the community decide that is what the term means then that is what it means and that how terms become real.

How long until this becomes a poll in Bitcoin Discussion?

I guess there's no need for a poll. The factual definition is: owner of at least one million bitcoins, but the usage that many people are familiar with is that a person has at least one million dollars/pounds/euros (typically) worth of bitcoin.

As somebody else pointed out, the flaw with the latter usage is that you could easily be considered a Bitcoin millionaire in rules, or yen etc haha.

kokoarm

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we all know what it means - someone who has become a millionaire in USD from investing in bitcoin.

if the community decide that is what the term means then that is what it means and that how terms become real.

bitsmichel

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Quote

55 coins? No that would be only worth only $31,000

yes, but more than a million russian rubles Cheesy

jonald_fyookball

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Quote from: bitsmichel on May 25, 2014, 09:39:52 AM

Quote

To me, bitcoin millionaire is someone who has holdings of bitcoin a worth
$1,000,000. Simple.

You only need 55 BTC to be a bitcoin millonairei n that sense (1090100.00 Russian Rubles) Cheesy

I think to be a bitcoin milloniare in the literal sense you need 1 million bitcoins, this would cost about $562.155.000 USD (~ 500 million USD), I have this laying around in my pocket Tongue

55 coins? No that would be only worth only $31,000

bitsmichel

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Quote

To me, bitcoin millionaire is someone who has holdings of bitcoin a worth
$1,000,000. Simple.

You only need 55 BTC to be a bitcoin millonairei n that sense (1090100.00 Russian Rubles) Cheesy

I think to be a bitcoin milloniare in the literal sense you need 1 million bitcoins, this would cost about $562.155.000 USD (~ 500 million USD), I have this laying around in my pocket Tongue

jonald_fyookball

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Quote from: franky1 on May 25, 2014, 08:55:33 AM

your only a bitcoin millionaire if you have a million bitcoins.

otherwise selling 100 coins at $10k in the future makes you a FIAT millionaire..

.. think about it logically

cant think logically?

how about this. by calling yourself a 'bitcoin' millionaire based on a value of FIAT you receive from selling bitcoin... makes you dumb

you might aswell hold $170k and call yourself a dollar millionaire based on the value of yuan you receive from selling dollar
you might aswell hold £100k can call yourself a pound millionaire based on the value of yuan yo receive from selling pounds

Aren't you the same guy that said the term "goxxed" only applies to actual mt gox company?
Like another poster said, it's like saying it's only a Ponzi scheme if mr. Charles Ponzi was involved.
No need to be so literal. To me, bitcoin millionaire is someone who has holdings of bitcoin a worth
$1,000,000. Simple.

hilariousandco

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Quote from: Cryptopher on May 25, 2014, 09:06:44 AM

Quote from: Mr Crabs on May 25, 2014, 08:50:33 AM

Buy 100 bitcoins now then sell at 10k. Profit.

Didn't Phinnaeus Gage allegedly pay almost double that to get Bitcoin Foundation Platinum member status? Guessing that he is already a 'Bitcoin millionaire' to be splashing out all those hodlable funds.

Pretty sure he didn't pay anything and was just chatting shit.

Cryptopher

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Keep it dense, yeah?

Quote from: Mr Crabs on May 25, 2014, 08:50:33 AM

Buy 100 bitcoins now then sell at 10k. Profit.

Didn't Phinnaeus Gage allegedly pay almost double that to get Bitcoin Foundation Platinum member status? Guessing that he is already a 'Bitcoin millionaire' to be splashing out all those hodlable funds.

Ikaex

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holy buying now god damn

franky1

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your only a bitcoin millionaire if you have a million bitcoins.

otherwise selling 100 coins at $10k in the future makes you a FIAT millionaire..

.. think about it logically

cant think logically?

how about this. by calling yourself a 'bitcoin' millionaire based on a value of FIAT you receive from selling bitcoin... makes you dumb

you might aswell hold $170k and call yourself a dollar millionaire based on the value of yuan you receive from selling dollar
you might aswell hold £100k can call yourself a pound millionaire based on the value of yuan yo receive from selling pounds

Mr Crabs

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Buy 100 bitcoins now then sell at 10k. Profit.

Cryptopher

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Keep it dense, yeah?

Quote from: zimmah on May 25, 2014, 08:43:15 AM

if you buy a house they'll ask where you got the money though.

So you don't buy a house with bitcoin or money from bitcoin. Or you do buy a house with bitcoin or money from bitcoin and then explain it if/when any official organisation requires explanation Wink

zimmah

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if you buy a house they'll ask where you got the money though.

kokoarm

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yes I want to be a bit coin millionaire - please pm me. thanks.

Cryptopher

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Keep it dense, yeah?

Quote from: Catmoonglow on May 25, 2014, 07:17:52 AM

How do people like the "Bitcoin millionaire" go from having an average amount of money go into being millionaires privately from bitcoins without raising alarms and hindering their privacy?

The trick is that they are Bitcoin millionaires, the millions that they hold is in held within the value of the bitcoins they own. I'm sure that they don't pull out many funds to their banks, rather that they just hold their bitcoins and use them to buy things.

Catmoonglow

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How do people like the "Bitcoin millionaire" go from having an average amount of money go into being millionaires privately from bitcoins without raising alarms and hindering their privacy?

ellen_me

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Quote from: Catmoonglow on May 25, 2014, 07:01:55 AM

I read a story a bit ago about a guy who become a "Bitcoin millionaire" and I was curious about how the process of "Trading" occurs within banks

It will be more interesting to read the whole story of it.

Cryptopher

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Quote from: Catmoonglow on May 25, 2014, 07:08:15 AM

I'm assuming that if I were to amass over $20k from selling bitcoins if I were to suddenly deposit all or even in small increments my bank would be alarmed and it would probably be investigated. I don't want to end up putting myself on the radar but I would like to sell some bitcoins in the future keeping it about 50% cash 50% bitcoin but I value my privacy and don't want to raise alarms.

Yeah you're right, you would need to launder it lol. Like I say in my previous posts there are various ways.

Some might say that the solution is to not cash out at all, but instead store your funds elsewhere.

Catmoonglow

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I'm assuming that if I were to amass over $20k from selling bitcoins if I were to suddenly deposit all or even in small increments my bank would be alarmed and it would probably be investigated. I don't want to end up putting myself on the radar but I would like to sell some bitcoins in the future keeping it about 50% cash 50% bitcoin but I value my privacy and don't want to raise alarms.

Topic: How to become a bitcoin millionaire (Read 4250 times)