Topic: Minimum investment amount in an ALT to make it rich? - page 2. (Read 245 times)

A while back I watched a video by "Coin Mastery" and I thought he brought up an interesting point. Let's say you have 1000$ to spend, normally what people in crypto do is spread this out over 10-20 coins with 30-100$ in each depending on how much they believe in the coin. What CM said that is an OK strategy but that it will pretty much never make you rich.

Consider this scenario
Let's say you manage to pick out 2 coins which makes 50x and on average your investment was 50$/coin -> In total that will be 5000$.
That is 5x on your initial investment but it is still not life-changing money and for a coin to make 50x, normally you would have to invest for a year or so.
Even if one of the coins hit 1000x (which is the dream) then you earn 50000$ which is a lot of money but again, it is not like you can retire on it.

What CM said was to make sure that you know what your goal is within crypto. If you want to make it rich or stay wealthy. If you already have a lot of money 50000$ then this first strategy of 20 coins would be totally OK since then the average investment when hitting 50x on two coins would be 50x to start with.

Problem statement
So my question to you all is:
- What is the minimum investment (in 2018) that you think will be needed to "make it rich"?

In order to answer this please consider the following:
- What could be a possible gain on an ALT in 2018? (Will it be as high as some gains in 2017?)
- Will it be necessary to invest in the ICO to get the really big gains or can one wait until after ICO release?
- What sum of money do you consider rich?

Here are my views:
Possible gains in 2018 is still going to be high among the ALTs but maybe not as high as in 2017. More money has flooded in and most projects are already introduced at a high market cap. So a gain of 50-100x in a year is going to become more rare imo. Even ICOs are increasing their initial investment and to really get in early you will need connections to take part in Pre-sales which can be hard to find. For me the sum of money that I would consider "being rich" is $1M dollars. That is a lot of money but that is the amount of money I consider a person could retire on.

I don't expect to make it rich with one coin but I hope to find one or two coins in order to make 50-100k$ and then use the strategy of diversification (10-20 coins) to have the final 10x increase. So I am looking to hit 1-2 coins with 50-100x trying to make 50-100k. From this it should be a fairly simple calculation of a "minimum investment" -> 75k / 75x gains / 2 coins = 500$/coin
What then controls how many coins I can invest in depends on my initial investment. If I had 2000$ to start with I would do my research and try to find 4 coins that could do 50-100x in 2018.

What are your views and strategies for "making it rich" in 2018?