The power of Bitcoin in global world - page 2.

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Quote from: stompix on April 27, 2023, 09:16:48 AM

Oh, and BTW, the estimate is no longer accurate, since the global wealth is not 317 trillion but 463.6 trillion the amount of BTC needed has also gone down to 0.045356.

This is a bit stupid, because if the global wealth goes to 4600 trillion, you will be only needing 0.0045 BTC, so 140$ will make you a millioane.

In the end, we have seen so many predictions of this style, which make a snapshot and miss many parts of the supply-demand and inflation equation. It's like predictions of when bitcoin will reach a million, which is hard enough to get right, but the most telling thing will be what you can buy with a million by then, which at the rate we're going will be much less than it is now.

In the end, for me the 'power' of bitcoin comes down to the fact that if you accumulate as much as you can without obsessing about numbers or dates, you will be much better off in the future than if you don't accumulate.

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Quote from: Ledway on April 26, 2023, 07:33:04 PM

According to Kemper's formula: A person need a total of 0.06624605 BTC in order to guarantee wealth worth $1 million.

There is no such guarantee and for sure it's not going to be a formula to do so.

In case somebody is interested in the details of the formula, here is it, pretty old stuff (in bitcoin time)
https://investory-video.com/blog/earn-bitcoin-crypto-millionaire

It basically estimates the whole coinmarketcap of Bitcoin is going to be the same as the global wealth and then divide it to find how much would a million be in BTC.
Oh, and BTW, the estimate is no longer accurate, since the global wealth is not 317 trillion but 463.6 trillion the amount of BTC needed has also gone down to 0.045356.

This is a bit stupid, because if the global wealth goes to 4600 trillion, you will be only needing 0.0045 BTC, so 140$ will make you a millioane.

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Quote from: Nrcewker on April 27, 2023, 08:56:21 AM

Quote from: Ledway on April 26, 2023, 07:33:04 PM

Have you ever wonder how lucrative or powerful Bitcoin is in the crypto world.
And you ask yourself(especially as a beginner in cryptocurrency business) can 1 Bitcoin make you a millionaire? Now listen!
The creator of swiss key,kyle kemper created a formula that determines how much Bitcoin one has to own in relation to the value of the world's wealth and the rise of a Bitcoin over time.
According to Kemper's formula: A person need a total of 0.06624605 BTC in order to guarantee wealth worth $1 million.

Why completely relying on future? And I don’t see any straight connection to the prediction made here. I mean how exactly did he get this number? In order to become millionaire, I have to work hard. This is clear and all should set up in mind. We also know that Bitcoins are limited in number and very valuable. So instead of assuming for the future, if we accumulate as many Bitcoins as we can, then a time will come when the demand of the coin will be increasing, hence the price of the accumulated Bitcoins in your wallet will increase in price. Now many can follow this actually to become millionaire with Bitcoins.

And also the formulary is based on when bitcoin will make $1M. When will it be and which generation will witness it? How sure are we that something more than bitcoin will not happen to the world and truncate the reign of bitcoin.

There's no much difference between his formulary and calculations from that of Satoshi millionaire. All these things are tend to discourage people from doubling their efforts and rely on unrealistic future fortunes.

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Quote from: Ledway on April 26, 2023, 07:33:04 PM

Have you ever wonder how lucrative or powerful Bitcoin is in the crypto world.
And you ask yourself(especially as a beginner in cryptocurrency business) can 1 Bitcoin make you a millionaire? Now listen!
The creator of swiss key,kyle kemper created a formula that determines how much Bitcoin one has to own in relation to the value of the world's wealth and the rise of a Bitcoin over time.
According to Kemper's formula: A person need a total of 0.06624605 BTC in order to guarantee wealth worth $1 million.

Why completely relying on future? And I don’t see any straight connection to the prediction made here. I mean how exactly did he get this number? In order to become millionaire, I have to work hard. This is clear and all should set up in mind. We also know that Bitcoins are limited in number and very valuable. So instead of assuming for the future, if we accumulate as many Bitcoins as we can, then a time will come when the demand of the coin will be increasing, hence the price of the accumulated Bitcoins in your wallet will increase in price. Now many can follow this actually to become millionaire with Bitcoins.

Ojima-ojo

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This depends on which part of the world you find yourself in, if you leave in the US then 1 unit of Bitcoin will not be enough to pay for your bills or rent you a decent apartment for two to three months.

But in some other parts of the world where there is low-value currency such as in some African countries, 1BTC will run into several million and that could actually make you a. Millionaire with the right planning.

Btw, you posted this on the wrong board so you need to move the thread to either Bitcoin discussion.

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Quote from: Ledway on April 26, 2023, 07:33:04 PM

Have you ever wonder how lucrative or powerful Bitcoin is in the crypto world.
And you ask yourself(especially as a beginner in cryptocurrency business) can 1 Bitcoin make you a millionaire?

Bitcoin has proven its strength from the year it was created until now it has a very solid foundation among other coins and you will find out how profitable Bitcoin is when you make Bitcoin a long-term investment.

We will try to convey at a glance from the price point of view how profitable Bitcoin is because I understand the direction of your question there.
1 Bitcoin purchased by someone at a price below $1K, now that person can enjoy big profits with multiplication of prices that have reached $60K - $69K.

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Quote from: Ledway on April 26, 2023, 07:33:04 PM

According to Kemper's formula: A person need a total of 0.06624605 BTC in order to guarantee wealth worth $1 million.

I think these are very exaggerated calculations, do you think owning 0.06624605 BTC will make one really rich? Then most people would be more than just rich!!!

Most predictions expect that Bitcoin will reach its highest peak of one million dollars, so if Bitcoin reaches this peak, then 0.066BTC = 66000$. Does this amount make you rich???!!!

I don't know on what basis Kemper made his calculations but I think they are wrong.

Davian144

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Quote from: Ledway on April 26, 2023, 07:33:04 PM

Have you ever wonder how lucrative or powerful Bitcoin is in the crypto world.
And you ask yourself(especially as a beginner in cryptocurrency business) can 1 Bitcoin make you a millionaire? Now listen!
The creator of swiss key,kyle kemper created a formula that determines how much Bitcoin one has to own in relation to the value of the world's wealth and the rise of a Bitcoin over time.
According to Kemper's formula: A person need a total of 0.06624605 BTC in order to guarantee wealth worth $1 million.

If you have to ask yourself a question like that, I don't think it really needs to be asked because 1 Bitcoin is enough to give 1 Unit of luxurious house with a minimalist impression in my place at hundreds of millions in my country's currency. Indeed, in general it is not enough to make someone rich, but if only to call him a millionaire, I think for just 1 Bitcoin someone can get that title from other people who are still poor.

But I'm confused by the Kemper formula that you said because if only with a total of 0.06624605 BTC to guarantee the wealth you mentioned, I think at this point there are very many people who have that amount of Bitcoin but they are still not called a person. millionaire now. So can you explain again the meaning of the formulas and formulas here so that I don't fail to understand what you are saying?

Dave1

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Quote from: Ledway on April 26, 2023, 07:33:04 PM

Have you ever wonder how lucrative or powerful Bitcoin is in the crypto world.
And you ask yourself(especially as a beginner in cryptocurrency business) can 1 Bitcoin make you a millionaire? Now listen!
The creator of swiss key,kyle kemper created a formula that determines how much Bitcoin one has to own in relation to the value of the world's wealth and the rise of a Bitcoin over time.
According to Kemper's formula: A person need a total of 0.06624605 BTC in order to guarantee wealth worth $1 million.

Again, we don't need to be the creator of something or be a rocket scientist to understand the power or the potential of bitcoin. It might not be a 'guarantee' wealth to us because I believed that there's no such thing in our life. There are no guarantees, everyone has to work his ass off in order to become a million or in this market crypto millionaire.

So be it 0.06 or greater or lower, depending on your capacity, it doesn't mean you will be worth $1 million. As long as you can invest the money that you can afford and accumulate and HODL for long term, I think that is enough for us to maybe someday all of us becoming a crypto millionaire.

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I think you are posting in the wrong section of the forum. Bitcoin discussion board seems more appropriate.

I'm personally very skeptical, and not sure I understand 100% of your point.
How could he predict the future price of bitcoin to determine the volume needed to become a millionaire? Do I miss something ?

I have a rule: when someone predicts the price of Bitcoin, I ignore them and consider them a scammer, or at best someone briefly in need of attention on social networks.

Ledway

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Have you ever wonder how lucrative or powerful Bitcoin is in the crypto world.
And you ask yourself(especially as a beginner in cryptocurrency business) can 1 Bitcoin make you a millionaire? Now listen!
The creator of swiss key,kyle kemper created a formula that determines how much Bitcoin one has to own in relation to the value of the world's wealth and the rise of a Bitcoin over time.
According to Kemper's formula: A person need a total of 0.06624605 BTC in order to guarantee wealth worth $1 million.

Topic: The power of Bitcoin in global world - page 2. (Read 238 times)