Topic: Investing 1$ every day in bitcoin over the last five years - page 9. (Read 5053 times)

It is like quitting addiction like qutting smoke, and then save it regularly so that you can buy your own house/car. Well, might work for people who totally dedicated to such work however it is hard to pull it through though, because, we have our own regular stuff that requires money to be spend, same to this situation, $1 must be a small amount for the others but in some various places $1 even worth bigger than it supposed to. Anyway, the gain here in this practice would totally work if you're just about to invest when bitcoin is in its down price, of course. Well, you could pull it out anytime you want, either way. Might try this idea, thanks.

You summed up the current market situation perfectly and that is the reason why investors are not so successful now a days because they still want to see bitcoin going up by 20%-30% every week.


True again but I actually still believe that anyone who invest in bitcoins even today will be in much more profit than any other business if they can hold (or as we call it HODL) their coins for another 3-4 years because when bitcoin was introduced the value was considered in bitcoins. As time went on, mBTC was given the respect that earlier was given to BTC and in coming time, I am quite sure uBTC or even satoshi would be the equivalent valuable unit.

well I think that way can provide many benefits even if you start from the beginning of 2009 then you get a lot of profit, the method can be said as a long-term investment and also can be said that you are saving, the way you do is very smart because when only a few of them do that.

It's a perfect example of how consistency, patience, steadiness along with a sprinkle of luck can change a person's life. $20000 profit can make someone's life in my country and can open him a good running business. I'm amazed, and I am hopeful that over the next 5 years I might be able to save good like that lol.

We all know today that one of the most significant transactions and investment are coming from the cryptocurrency while the bitcoin from the previous year gain a lot of popularity many people try to invest, and one dollar is a vast market profit every time you spend. If we are trying to look back at the price of the bitcoin before it is just always one thousand dollars per bitcoin, but by the time goes by and many people invest, the cost of the bitcoin slowly increasing. From the year 2017, bitcoin gains its highest market price that is over 14 thousand dollars, and that was a considerable market profit to the people who invest in a coin that most people ignore. Since the price of the bitcoin today are increasing and many people want to try to invest again this is a good chance because soon we are now facing the halving of the coins again.

Yes, this may be a good idea to save money for future purposes. The price of bitcoin is increasing over the years so if this has been done over the last five years, the value of that investment will be in a better value.
And for your concern about the money that will be left in the wallet, I think $1 is not that high that you actually need to think about the money you need to spend.

I think even though the price of Bitcoin is soaring high, but if we only spend 1 $ every day I think it does not burden our abilities. This is a good idea to save Bitcoin in the future because we know many believe that the price of Bitcoin will increase in the future. But of course you have other money left in your wallet for daily needs.

If he does that since 2010-2016, then yes, he will be a millionaire now, but if he started to invest $1 in bitcoin in 2018, hm I don't think that he will become a millionaire because he doesn't get a big profit from the next bull run. But still, the money that he invests will be double than the first time he invested. $30 for every month will not give too much money unless bitcoin price can increase more than $50k in this year or the next year, but I don't know because we do not yet see how high bitcoin price will increase next.

That's quite far from reality. Investing in bitcoin every day worth $1 for the last 6 years won't make him a millionaire. He will gather decent funds for sure but not enough to reach a million. Now, the problem that might occur when investing funds, I don't think that it will be a problem, unless, banks in your local country prohibit using cryptocurrency and that will be the biggest obstacle taking out your money.

In order to become a billionaire, you need to go back to 2011 and 2012 and then purchase Bitcoin. By 2014, BTC had already reached close to $1,000 per coin. Bitcoin is just like any other asset. Those who invested in it earlier got good rewards. In the stock market, you can see multiple examples for this. Anyone who had invested in the Microsoft IPO of 1986 or the Yahoo IPO of the 1996 got huge returns. The same is the case with those who invested in real estate, back in 1990s in suburban areas.

All of these will be worthless if the bear trend results to a recession. Probably one thing you should do is to convert all your investment into cash so that you will have something to use if you experience financial crash. Though saving was a good thing you should be aware with this possibility.

This makes sense with what has been done, but it does require a lot of patience because it can be ascertained that the intention to make a decision at an undetermined time may be very likely to occur, especially with the price of bitcoin suddenly soaring. this is patience that is very tested in doing so. truly extraordinary and appreciate this.

imagine someone investing 1$ every day in bitcoin let's say in the last 6 years he will be millionaire now. only he will face one problem and that is how he will withdraw all of his money to his bank account.

I had my first bitcoins around 2012. What if I held onto those, and all the other coins I acquired since then? I think I'm counting at least 2 digits worth, maybe 3. So not a whale by any means by today's or ATH's prices, but still a lot considering. (Not including the ones I spent investing in assorted random ICOs, I think everyone made some coins then if they cashed out a few months after.)

I hate spending my bitcoins (and altcoins) but if you have no other sources of income, or your main source of income is not enough ... you gotta do what you gotta do.

The thing is, this concept works with traditional investments compounded over decades, and is what retirement planning is all about. You just need to start as early as you can, and be as consistent as you can, and you don't even need to top up.

Someone who starts at age 15, contributes 5k every year (not every day or every month), for 10 years, then stops, putting that into some total stock market fund that earns 10%, would have, by age 60, more than $2 million.

For the young ones out there, you have a very good chance, start now. For the oldies like me and some others, it's not too late, although I don't expect to see millions by the time I'm 60 since it's not that far away anymore.

Same concept, but buy bitcoins, HODL for 20 years, we don't know what the numbers would look like, but it would seem to be much much higher. I would suggest to not completely forget about the coins though, maybe hang around these forums and check out any updates once a year at the least.

The market value of Bitcoin moves a lot which makes it a profitable investment. Only those who are patient enough would be able to do such kind of saving. Just think of how much the price of Bitcoin before, and even if that was just $50 a day, if you would sum it up within a month, that would be a huge money to risk into an investment that has no assurance of earning profit ( condition of Bitcoin before). So I won't say that this kind of saving strategy is easy.

Everyone can, but not all people could resist spending within five long years. Not to mention some financial need 'moments' or time of emergencies, or let's just say you want to buy something that would make you think of using your savings.

this means 7$ a week?i have started in november to invest my 20$ a week and will roll everytime i find a sideline or extra income so all will be added to my holdings.
though i already have some good amount yet i want to add more and more because 2020 will be my fortune.
i have a good plan for my earning(incoming actually lol)and that will include my family's future,this is out of crypto project that will bring us good future,but of course i will still hold some amount for longer time ,if i bought lower price after the Bullrun.

I would not read too much into it. If you check the calculations, you can see that the maximum gains were accrued over the first two-three years, when the exchange rate was as low as $220 per coin. You can't expect the same level of returns now, as Bitcoin market is more mature and is already having a market capitalization of close to $180 billion. Since it is already having a large baseline value, it is not realistic to expect Bitcoin to give the same sort of returns that it gave in 2013-15 period.

Yeah, tell me about it.  I wish I still had all the bitcoin I'd bought in 2015 when it was well under $1000.  That's why I hate spending bitcoin and stopped doing so quite some time ago.

I get the point of this article, but it's cherry picking the data just a little bit by choosing a specific 5-year time frame that shows what are probably the best results.  You could do a similar thing with stocks, too, by picking a particularly profitable 5 years of a stock that's been around a long time, so I'm not impressed.  I know damn well bitcoin has been a money maker from its inception--and it's too bad I'm left with my little regrets of selling out early, but on the other hand I don't think the good times are over by any means.

I believe that everyone can save atleast 1$ a day. This is just  a small amount compared to what an average people are spending. I like the idea of saving 1$ for a cup of coffee Haha since I love to drink coffee everyday. Aside from eliminating possible results of multiple cups of coffees, we could rather save and invest it into Bitcoin. This will probably my hobby now. 

Indeed, the fact that investing enough $ 1 in bitcoin will make you rich. It's easy to get rich, but in practice it's very difficult.
Because it does require a strong intention in this matter, I also try to do the same thing. But for me it's still too hard investment
of $ 1, so I reduce it to $ 0.5 per day. Hopefully I can consistently invest this way for the next 5 years. Because it's never too late
to start investing.