Topic: What is your plan to get rich with Bitcoin? - page 125. (Read 265836 times)

maybe you're right. waiting is good, but it probably will not be enough to make you become rich, maybe you should learn to play the trade, because trade can make you rich

How.many btc are you holding right now? Cause your so confident that you will get rich when bitcoin price increase.
Like you im holding my coins too but it will only give me some profit but it willl not make me rich.

Not enough with it to become rich with bitcoin. Need to work hard very earnest in order to get a lot of bitcoin. There are many easy methods that we can try to get bitcoin should we try.

For now, my plan in holding all my bitcoin until the halving come. Because i'm sure the bitcoin's price will increase and if it happen, i will get rich by it.

You have a lot of good ideas... and best not to get too greedy in selling BTC for alts, but some people do really well with these kinds of moves.

There are no profitable cloudmining companies anymore. There are legit ones such as Genesis Mining, but they will end up costing you money instead of generating money, especially if you 'invest' (haha) in SHA256-mining. Mining ETH in the cloud is slightly profitable, but it will stop doing so when the ETH price goes down. And if you are of the opinion that the ETH price will go up, you're better off just buying some ETH and waiting for it's value to increase. Not only more profitable but much safer too, as you can cut your losses any time you please.

I personally made quite a lot of money through pre-paid contracts at megamine.com. I lost quite a lot at genesis-mining.com.

As for the OP, the best way to get rich with BTC is to start a company offering a service that makes BTC easier to use. A friend once told me, when gold fever breaks out, you'd better be the one selling shovels.

Another way is to speculate successfully. But that's ultimately quite a gamble, especially since you'd need a big starting capital to have big gains. I'm trying going down this road, loaned some money, doubled the fiat-value so far, hoping to double again soon by selling BTC for altcoins at what I will have to guess is about the top of the value of BTC say a month or two months after the halving, then buying back in a month later. Risky tho.

First you should learn how to write what you want to say.. buying a high rank account with this posting attitude would not be good for you. you are just a newbie, better to read about bitcoin and related things and try tho rank up your own account. instead of getting another high rank account here.

You have to make a choice about whether you consider bitcoin to be a long term profitable investment, and you also need to consider its likely ongoing volatility.

If you come to the conclusion that bitcoin is a good long term investment, then it is not logical to get very obsessed with selling large portions of your holdings.  Maybe you can sell 10% to 50%, but if you believe it to be a long term investment, you should continue to hold a considerable portion of it, even when the price is going both up and down, because otherwise you may well make the mistake of selling too many too soon.

On a personal level, I may be a bit more invested in bitcoin than I am comfortable, and therefore I engage in an active monitoring and selling bitcoin as the price goes up - but still I do not sell more than 8% currently, and my plan is only to sell less than 40% even if prices were to go to $5k-ish in the coming years... but so far, I have been buying back BTC with those proceeds, as well... so it is good to have money on both ends, even though you need to continue to monitor the price under those kinds of conditions... and when BTC is likely to continue to be volatile.

Have I high rank member and join big time campaign signature.

That's true. If you really want to invest on cloud mining sites, just be sure that you do not invest all your bitcoin in just one mining site. There's also a risk on investing, so you must look out for a good site. And ofcourse you must save some of your bitcoin, because most of the mining sites shutdown or turned into scam as time passes by. Also think of any other option aside from cloud mining and faucets, there are many other ways out there to earn bitcoin.

Wow that is good, to get more people will use bitcoin.
We all are benefited of this plan you need to pursue this.
For me i build a business which is exclusive for bitcoin users hehehe

My plan is to open a bitcoin advertising company.. Coming soon!

Yes no clouds on mining, the other methods are also many websites that scam. We should be aware of it so that we are not deceived. We must often choose well.

Don't invest your money stuck into cloud mining. I guess that at this point everyone knows that the cloud mining industry is full of scam sites. I hope you know what you are doing.

to become rich with bitcoin, at least we should be able to make a profit in the short term, such as trade and signature campaign, and do not hold too long, because it is uncertain.

it is a good thing. but do not make passive income as main income dude. because it would only prolong you in becoming rich ?
so look for a job that gives you a monthly salary or weekly. it would have been better and use also manage money dude

You are very unlikely to get rich by considering only income that you can make from bitcoin, such as signature campaigns, mining and faucets... ... but instead how to convert and to stack away all sources of income into bitcoin and thereby attempt to live without lavishness while you are accumulating bitcoins.

Who knows exactly how many bitcoins you are going to need to accumulate to be "rich"

My initial goal, a couple of years ago was to accumulate 30 BTC, and I thought that was reasonable for me and my finances (and now I have accumulated more than 30BTC).. but some folks may consider whether their personal goal would be 10 BTC, 20BTC, 100BTC or some other quantity, depending on their personal financial circumstances...

I think that the main goal should be to attempt to accumulate BTC, whether that leads to riches or not, it will likely be a decent long term plan (because BTC has a lot of decent long term fundamentals that have decent odds to create continued price appreciation), and if you seem fairly confident that BTC prices goes up more quickly than it can be sustained and the price is fairly certain to to come back down at least 10% or more, then maybe in those kinds of situations, it would be a decent idea to take some chances and to cash out a portion (not all) of your BTC holdings and to attempt to buy back BTC for lower prices at various relatively safe lower price increments (always maintaining the goal of accumulating BTC.. while protecting your total investment from some of the downside price risks).

Well am not sure that we can get richer by BTC. If we do some biz here like signature campaign, mining, faucets etc. we can able to manage some part finance problem in personal or if i hold some more accounts with campaign and posting in daily basis means i can manage some more. But getting richer is doubtful.

I do not have any plans on getting rich especially not with Bitcoins. If it happens then I am blessed but I am not aiming to become a millionaire in life. As long as I can do what I want to do I m good.

Indeed bitcoin can also create rich and can make us have a lot of bitcoin. But just like you, I would rather work in the world a reality. And bitcoin only as an adjunct to earn income.