Topic: What is the right number of BTC to own in order to become rich in 10 years?? - page 3. (Read 3708 times)

i like where you going with this and just how will you spend all this money
10 years is a long time and bitcoin is likely to be the most powerful currency during that time and price might grow 5 fold from what it is today..
I guess you want to be MEGA rich.

Ridiculous post

Approx 1000-2000BTC. Either you bought at single digit levels or remain poor.
Even 20-50 BTC won't help much. Better sell now.

Depends how convenient Bitcoin is for real transactions.  If it ends up being a "settlement layer", I will probably convert gradually to spend for items that can't be bought with Bitcoins, and if it's too bad I might just convert the money I need into fiat while keeping most Bitcoin as a safe haven asset.  It's good to look at Bitcoin relative to USD because then you can judge how much it's grown over a certain period of time and it's clearer how much it's worth until it stabilises.

So as for USD, I would say that 1 million dollars looks super nice at first but let's break it down.  If you live fifty years after you have that much, you're left with just 20,000 dollars per year, which becomes worth less and less and time goes on unless you hold most in Bitcoin and protect yourself against fiat inflation.  If you invest and you manage to make 5% per year for example, you're talking about 50,000 dollars per year but you're subject to more risk.  In either case, you're not living the luxurious lifestyle that a million dollars brings to mind.

Therefore for practical purposes, ~10 million is rich.  It's surprising to see how easily people can throw away what seems like a lot of money if they have a lifetime to spend it.

At 10 years with a value of about $100k/BTC, I'd say 50BTC and you never have to worry again

I had a good laugh reading about your 500k USD in 10 years. Do you guys realize that value of USD plunges every year? Inflation is so high, that 100 years ago people were earning 10 dollars per week. If you don't believe me there's a wage worker census available online (I used wages from the year 1905).  Now $10/h is considered low income. Do the math yourself to see how much the value of USD has decreased in 100 years.
10 years from now your 500k will buy you about half of what it does right now (or less), so it's safer look at value in the terms of cryptocurrencies. It's safe to assume that if you had an apartment worth 500k, sold it today and held, you wouldn't be able to buy it back in 10 years (even though it would be in a much worse shape after all this time), but if you invested it in BTC, you'd have enough to buy 2 (or more) new ones.

Yes there are lot of things to be considered. But we are not seeing bitcoin prices just doubling around its halving, it may be getting 4x growth too (as per 2nd halving). It is highly expected bitcoin's future appreciations will be in exponential rate so millions would be possible if bitcoin will manage to dominate by 2027.

Personally I am very much confident that bitcoin will be with us and one bitcoin holders will be millionaires but people will not be patient enough to hold one bitcoin for another 10 years.

It depends on your definition of rich. If you want to have a fancy cars, yacht, large mansions, then you will need a lot of bitcoins. But if you just want to live comfortably while doing the things you love then a few hundred bitcoins will do. This is if bitcoin continue to be valuable after ten years. Did you consider bitcoin losing value after those years?

That would be 2027. Until then two more halvings will have happened. Each halving ~doubling the price I think a price of half a million USD isn't possible as long as the US-Dollar doesn't hyperinflate. A price of $10.000 to $20.000 however is possible if Bitcoin will still be around, be the dominant coin which scales with having kept decentralized foundation.

Own as much as you can, in my opinion 10 bitcoins should be the minimum target.
i want to own at least 25 bitcoins(i'm still working on it). hopefully in 10 years i would be able to buy a house with my precious bitcoins.

$500k in 10 years would be awesome!

I think that if 1 BTC in 10 years would cost about 500,000 USD then with 20BTC you can get 10,000,000 that is been rich and wealthy because you willhave also free time.  So in my opinion 20 BTC will make you rich in 10 Years.

Rich is mostly about what peer groups you (currently, and want to in future) hang around in, and your perceived position in that peer group.

Ive personally known multi-millionaire's having a few "rough years", and stressing over the fact they wont be able to afford their super expensive golf-club fee's ($50k) for that year and paranoid about "what will the other guys think and say about me when they're hitting some rounds and Im not there ?"  (seriously, this fella told me when he had a few stock market mishaps and was down about 50% on his earnings ).

another pov..
"Rich"
is most often defined as
"Having more money than your Wife's best-friend's Husband does" 
(you can guess the reasons behind this definition).

Or, you could hang out with the Packers, and get offered a $50M bet on the toss of a coin..
https://www.google.com.au/search?q=kerry+packer+coin+toss

To most people, "Rich" means about 2x - 5x whatever they *currently earn.   
Which tells you that its not a number, its just a certain number of perceived steps up the financial ladder from *wherever you are right *now.

The problem is, as most people climb that ladder, they wind up their expenses at the same rate (or faster) as their income grows, and they find themselves with lots of money coming in, but still the same feeling of "only *just making it" as they had 10 years ago.   

Another big-$ bloke Ive known (I work with quite a lot of them) was worried about being able to afford to finish the total refurb on his CBD Penthouse Condo *and keeping up the repayments on an investment pub property he'd bought.. 

Being "Rich" is a state of mind, not a $ figure.

"Being rich is having money; being wealthy is having time." People will never ever be satisfied for what they have. True, right? But in my outlook there's no right number of BTC to own in order to become rich in 10 years cause in my opinion as long as you can afford to buy more and more, buy more. You'll never regret buying more bitcoin because at the end it's worth it.

In my view I believe a person who holds a minimum of 10 bitcoin can be found rich in 10 years. I have made this prediction based on the experts view as well based on the price increase happen in relation to the increase of users and adoption happening around the world countries.

maybe i've been living in a third world country for too long without looking at what's happening in other countries but this doesn't look like a old row house to me.

242 Margueretta St, Toronto




386 Yonge St, Toronto


386 Yonge St, Toronto

I still think that it will be US dollar to fall first, maybe not now but in 10-20 or more years it is serious possibility.
Canada seems to have more stable currency.

I share your opinion, I keep majority of my investment frozen in bitcoin.
Everyone tells me: why don't you diversify your investment portfolio and keep only a small fracture of money in Bitcoin?
It is so volatile, it can fall, there is no guarantee etc.

I usually answer them that storing fiat will only prevent inflation. Bitcoin from the other hand can bring me fortune in the future.

It's the most immediate and convenient way of measuring Bitcoin's buying power. I don't have any plans to return to fiat, but if I feel like spending BTC then I want to know what I can get for what equivalent amount.

This why when people ask about my exit strategy or when I plan to sell, I tell them I have no such plans.

I'll simply keep buying bitcoins on the dips with whatever I earn in fiat currencies and spend my coins only as need be to buy goods, services, and as much fiat cash as I need for anything I can't buy with Bitcoin.


$10M CAD would be enough for me.

Mind you, that could change if the Canadian dollar continues to devalue.

I don't really sweat it though because I keep the bulk of my monetary wealth in Bitcoin.

When I bought my first bitcoins, the USD and the CAD were at par. Over the years my coins have not only earned me an obscene amount on their own growth but also an additional 30% as a safe haven against CAD devaluation. Win-win.

Canadian or USD? There's a small difference of about 300,000 depending on whether that money is Canadian or USD. I live in a small town so 1 million US would definitely be nice- I just don't like living in huge cities. My goal is to get ten Bitcoin by 2020, not as big as some people's but nonetheless that's what I'm aiming for.

You're not a true Bitcoiner if you keep looking at USD and you treat BTC like a way to obtain USD. The ultimate goal should be to drop USD completely in favor of BTC and be able to transact with cryptos everywhere you go starting from a public toilet and ending with a Bugatti dealership

Also I can bet here and now that once you get $500 and start living on it, being able to buy all the things you need at the moment, you'll soon want more. You'll wish you had another $500k, because then you'd be able to also buy stuff for your wife, parents, kids, and so on. There's never enough money!