Topic: How too get rich - page 255. (Read 414983 times)

when the price is very low, it goes more side by side, with the notoriety, and for this reason bitcoin didn't faced any pump, also many was thinking that it was a virus or something, but when you gain a little notoriety this rules apply less, it will be more about rich whale than anything else

because many average people are not willing, to buy at an higher price, wanting to keep the possibility to buy a whole bitcoin or more

I bet people said the exact same thing when bitcoin was worth a few cents, went up to a few dollars and people said, nah it cant go up anymore, went to a hundred, again nah it cant go up anymore and boom to 1000$ and it still didnt stop there, it went even to 1200$ and could have stayed there if it wasnt for china.

i was talking merely about that "too big" that you emphasizes, that's was my point, there will be a limit where increasing above it, might be almost impossible

also i think that it was more easy to pump the price back then because anyone could do it, now you need group of whale, rich guys and whatever

I'm not talking about the amount of coins people own.

I'm talking about the likelihood of bitcoin increasing in price.

When it was worth 0.001 each, it had a lot more room to increase, but at the same time there was a very high likelihood it would fail. Now that its a lot bigger, there's a lot less potential to increase 100000x, but it is a lot more likely that bitcoin will not die now than it was in 2010.

So when you graph the EV of bitcoin at different points on the graph, it isn't a complete downwards slope, but more of an upside down parabola.

If there is a time machine that is fully functional, I'd definitely invest on Google, Apple, Microsoft and bitcoin. But unfortunately, there isn't one available right now so I'll stick with the traditional method. I'll work day and night and keep some of it for my investments, diversify those investments and re-roll the profits until I see that I'm fine with what I have. Rinse and repeat. Of course it will be that long but hey! Most millionaires earned their millions by doing this thing.

I think a bell curve might be hard with it.  I can see lot of outliers on having very very little, and some with massive amounts.

I just see that throwing it off, but I could be wrong.  I also don't think BTC will ever be completely worthless at this point.  What it's value will be in 10 years I have no idea but it will be something.

This isn't necessarily true. The difficulty would be something like a bell curve.

It was extremely difficult when bitcoin was worthless, because it is worthless so no one wants it. It gets easier and easier when it gets bigger because now it has a much higher chance of succeeding. Then when it gets too big, it becomes very difficult to get bigger again.

there is a logical fallacy here, because the more we go high the more hard is to go even higher, so buying at 1/5(like in your example of hit $100 i buy at 20 ecc..) of the maximum isn't always good if we have already reached a high amount, the chances it will fall are much higher

besides this there is no guarateed that bitcoin will skyrocket that's the problem and this is the reason why i said the above thing

If I had a dime for every time I thought of all the ways I could have made money over the past... well I'd have about $2 but those dime a piece thoughts... OMG.  The internet .com bubble around 1999/2000, Pink sheets 2000-2005, Google, Apple, FaceBook, Bitcoin, and the list goes on and on.  Hindsight is 20/20

As someone else pointed out earlier, buy some BTC now. You are taking the same risk as your friend did back then. Either it will go up or down, but if you believe in it you will kick yourself harder in a one, two, or even five years down the road.

I am sure when BTC first hit $2 there were people saying the same thing; why didn't I buy when it was $0.02 or $0.20, etc. Then when it first hit $20, why didn't I buy at $2?. At $100, why didn't I buy at $20, etc.

So my point is if BTC ever gets mainstream its value will skyrocket. Think about it, only 21 million coins divided up amongst 8 billion people on the planet. That is roughly a 380 people per 1 BTC ratio, so BTC will be very scarce by then. Heck even if one country, say the US at 350 million people to only 21 million BTC, you get the picture.

So if BTC would get to be worth $10,000, $100,000 or even $1,000,000 per BTC, buying at $100 versus $300 becomes almost a moot point. And before thinking such a valuation couldn't happen, consider the GDP of the US in 2013 was approximately 16.77 trillion dollars. I know that is is far from evenly distributed (99% versus the 1%, etc) but for simple math, look at dividing that $16,777,000,000,000 by 21,000,000 coins and they would need to be worth $798,904 each just to sustain one countries economy. BTC is a global currency, so it could be higher. Of course this is the extreme in price prediction and is not very probable, but it does illustrate the potential should BTC get a mainstream foothold.

We already seen one peak at over $1,000 per BTC, and I as many others believe the current price suppression is mainly due to big players buying up the cheap coins (the 0.01%ers). Now is the chance to join them.

Few years ago.

My friend told me that he's going to buy 10 BTC for around $20, I wasn't actually interested in it and I didn't buy anything.
When I see the price now I want to kill yourself I didn't buy any, really. I'm dumb.

I think you can not overnight to become rich, should be done to establish some of their business to become rich . They should also have some luck in life, but needs a lot of work and effort. You should be at the right time in the right place .

You know nothing, maybe I'm going to build it and I will be rich enough to throw some fake money

Many dreaming for this but its not a fact its just a dream keep this up 

If you actually build a time machine, then you are already rich, no need to go back.

you have the real definition of luck there which is also followed by a prevalent passion in his case


i don't believe this is working at all nowadays, it was the case last year but now every alt born died, and premine is not seen well, in the end you will end up scamming with hidden premine to earn ...

The one more important thing is capital. You can build a business with capital, and even you still need money to buy lottery ticket.

Then thats a same thing with sport gambling, which you will win if you bet on the right team. But I don't think both way could make us rich.

Because you have your own perception about rich, I bet you define rich is have a lambo or ferrari in garage. Chineses usually work hardly and saving their money for their next generation or invest it.

Then do you mean knowledge is better than being rich?

Sounds boring and risky (if the price goes down). I'm sure when we are waiting price to rise, suddenly price begin to drop and we will be panic, then sell it all at lower price, so we don't get any profit. Imo no one can wait until its price reach the moon patiently .

Go back in time, and literally place a buy order for EVERY single bitcoin on all exchanges.
No matter how much you buy it for (if you put it up for 10$ when its worth cents in btc), people will REALLY sell all their btc to you.
Once you have enough, go back in time, and sell it all on exchanges at -10% of the real price, to sell fast.
Or maybe do market manipulation.

Play the bitcoin lottery.

1) Open a bitcoin wallet

2) Buy bitcoin...several...maybe 5 (off the top  of my head)

3) Hodl that bitcoin...hodl some more...keep hodling...

4) Once bitcoin price to fiat rises, you've won your lottery!

Altcoin can give you nice profit and get you richer if you know which one is a good one. That need a lot of courage and great luck to choose, but altcoin is always in a risky to do it. If you believe one coin you should buy a lot or mining it, then when the time comes you will dump it and you will be rich in just a moment