Topic: What is your plan to get rich with Bitcoin? - page 166. (Read 265849 times)

Yes we all are doing this because it will  most likely be profitable so that is why we are all doing this, I hope we are all gonna make some profit with holding or bitcoins.
The halving will be so profitable if we have to believe the speculators!

These days nobody is spending Coins as we are waiting for the price increase soon 

My plan is too get rich by just holding the bitcoin because I think with holding you can make a lot of money without doing something with it.
I do not spend any bitcoins these days.

Nice idea its good to buy lots of bitcoin now and save so that you can earn big money the bigger the savings the more you earn in this event, and my plan to get rich in bitcoin is invest my money in good site or programs and also i will do tradings so i can earn more  but i dont think i will get rich with bitcoin because my incomw daily is not so big. Enough just for savings.

It would be perfect indeed if we can be rich because of Bitcoin but the bad thing is that you sometimes dont even know what to do and that is the problem.
So I think that you cant be rich because of Bitcoin or it must takes a long time until that is possible.

I'm gonna carefully tuck away 1BTC out of reach of any bad actor - to ensure I have it after 10 years. At that time I suspect 1BTC to go for equivalent of 1mil USD. I'll then carefully retrieve the 1BTC, sell it for equivalent of 1mil USD and have some fun with the proceeds.

I think that part of the trick, whether it is trading or buying and hodling, you need to invest only as much as you are able to set aside and not schedule it in as part of your budgeting - because if you need to cash out of a certain portion of your bitcoin on a set schedule - then you have likely invested more than you can reasonably afford to invest.

In other words, you need to be able to cash out completely on your own terms and on your own timing, rather than being forced to cash out at a particular time.  For example, I began investing in late 2013, and I recall in early 2015, I had some cash flow issues and I was not able to buy bitcoin for a few months, - retrospectively right while bitcoin was at its low point.  I did not want to cash any of them in because my total bitcoin portfolio was in the red.. so I purposefully figured out a way to meet all of my cashflow issues, during that period, without selling any bitcoin (retrospectively realized to be at the bottom).

you're right, it's better to play trading. but trading requires high analytical skills. you have to take risks if you want to be rich people and many bitcoin

yes more investments are riskier than bitcoin out there, but the investment in bitcoin by simply buying and holding to say the risk is still small.
after halving the price is unlikely to be immediately increase, I will wait until the end of the year. but depending on the price itself, I would not wait for a higher, because it is very risky, if prices fall very far.

If you are starting from scratch, then it's a long road ahead. What I plan to do now is accumulate, hold, and wait for atleast 2 years. Now the unpredictability factor comes in, we are not sure whether the price will keep on soaring or if it is going to plummet. My due diligence would be very useful here.

I'm already rich I just really like sending and receiving bitcoin transactions when I'm high
Everyone be thriving!

It's pretty easy, i want to make some money for start and than open my own gambling site and make it popular, it's so hard to bring it to life but i will try.

How many bitcoin's do you think that a person needs to consistently make 10BTC per week (anywhere between 50BTC and 200BTC or more?)?

Do you believe that 10BTC is a steady amount of income or was the 10BTC a one-time fluke.. in other words, does the income vary?  What would be the weekly average of such a person over a 6 month or longer period of time, is it 10BTC or a considerably smaller number, something like 1 to 5 BTC?

Is this BTC trader person using automated trading, investing in alts and/or overall how many hours per week does it take this person to make 10BTC per week?  Skill level?

I have quite a few doubts about any "normal" person in these times being able to consistently make 10BTC per week..... even though on a fluke some persons may be able to once in a while earn that amount of bitcoin in a week.  Can we define a "normal" serious trader of bitcoin, who is attempting to make a living off of bitcoin, as someone who may be in the ball park of owning anywhere between 50 BTC and 200BTC or some combination of trading currencies of about that level of value?  or are you thinking of another kind of person?

are you have not seen a person has more than 300 BTC bitcoin wallet? it proves that the guy has a lot of money from bitcoin. of course they become rich because bitcoin "just early speculation" but I often see someone make a profit of more than 10 BTC perweek of trade  do not hesitate to get rich in bitcoin

Sticking to a buy and hold long term plan is the only way to do it. All other methods will require too much luck involved, and will not be as consistent, so keep storing as much BTC as humanly possible and history will make you a winner. Of course, you can try to get some extra BTC off obvious pump and dumps like Ethereum which always have potential to get pumped again so keep an eye on some of those altcoins.

Probably just invest in it in little amounts over time and have the inflation from Bitcoin cause me to be rich in the future. It's value is going up faster than the inflation rate even with the up and down turns that it is still profitable to invest in Bitcoin.

Or invest in short term altcoins which will profit to Bitcoin

Being rich only with the bitcoin earning takes lot time. It's better to have a good job and then have bitcoin to make additional earning which supports your life to be rich.

Absolutely right, the halving is really happen, it made big affect to bitcoin price and it was few times happen during 3 years ago.  So halving will give many profit to someone who hold their bitcoin and wait the price increases.

It's not speculation because it will really happen.

The speculation here is the possible scenarios and outputs that will happen when halving happened and that will include the bitcoin price.

You only generally referred to your plan, but really, after reading several comments in this thread, I would like to mention dollar cost averaging. 

In essence, if our presumption is that bitcoin prices are going to appreciate in the long run, then we just need to consider a plan that allows us to invest on a regular basis, whether that be daily, weekly,  monthly or some other variation.  We can just have a set amount such as $10 or $20.. or whatever is affordable to our budget and invest it every week no matter what BTC's price at that moment.

Personally, I have been in bitcoin since November 2013, and I used a variation of the dollar cost average method in order to accumulate coins; however, starting in about October 2015, I considered that I would also begin to trade.  I've been trading since October 2015.  Actually, I could have started trading earlier; however, for me, trading did not make a lot of sense before that time because I had considered that I was still in my BTC "accumulation phase." 

Once i felt that I had accumulated enough coins, then I formulated a personalized trading plan that I considered would be good for me, and really accounted for the number of coins that I had accumulated over the previous almost 2 years.


Since I began trading, I did accumulate a few more coins through both trading and through continuing to throw some additional money into bitcoin (but really accumulation was less of my direct concern, even though I continued to consider that accumulating more coins was a good thing whether I earned them through trading or by buying a few more with some extra cash flow).

Surely, BTC price appreciation in the future will help my overall BTC profits, but my current state of affairs seems o.k. too, because trading helps to prepare a person's total BTC portfolio for both future upwards or downwards price movements. Currently, as I type, my total BTC investment portfolio is apportioned with about 92.5% BTC and about 7.5% fiat.  I'm feeling good about that and better than having a BTC portfolio that was 100% BTC (which was the case during my buy, HODL and accumulation phase).