Will owning 0.01 BTC really make you rich? - page 10.

jossiel

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There's the other thread: Do you guys think 0.1BTC is enough to "make it"?

Well, I think that's more plausible having that amount than what the title indicates. That's 10x more than the example that's given by op on this thread.

Quote from: ?? on ??

Yes indeed owning 0.01btc can make you a millionaire if you can be patient enough to hold on to your coin following the high volatility rate of Bitcoin and how much investors are trooping into Bitcoin causing a high demand in the crypto asset. Achieving this with 0.01btc would determine how patience and discipline you can have when it comes to investment

How long you're going to wait until 0.01 btc becomes a million? Bitcoin has to be $100M/btc for that 0.01btc you're holding to become a million. Not impossible but I think that we're still far from that point.

uneng

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In my opinion it's a very exaggerated prediction which doesn't make sense at all even on the most optimistic scenarios. Just imagine the volume of money invested in crypto market needed to push every bitcoin to 100M$ dollars. For this hypothetical situation to happen, I suppose fiat system must completely crashes and be nuked before... Only the total loss of trust in traditional financial system and its alternatives could justify such impact over bitcoin price.

Ziskinberg

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Quote from: adzino on January 08, 2022, 10:38:49 AM

It can make you rich if the price of bitcoin is worth billions of dollars. So yeah, it will make you (probably dead you) rich but not now. Maybe after decades. Maybe not during your lifetime. But it is the crypto market. So nothing is impossible. Even if you invested on 0.01 BTC a decade ago or when bitcoin was created, you still wouldn't be rich today. But if you had invested back then the amount that is equal to 0.01 BTC today (around $400 USD), you would have already been super rich by now. Keep investing slowly and hold it for long term.

If we start an investment and grow our 0.01BTC that seems reliable to make it rich but if we just hold, I'm totally in doubts about it.
I'm not discouraging people to think of becoming rich when investing in Bitcoin as it was their motivation but we also have to bear in mind that it can only be just a dream if we tend not to increase our investment. The price of Bitcoin won't grow that fast and make reach $1million instantly so it is very impossible to make us rich out of this small amount, that was the truth.

ReiMomo

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Is it ok for you to wait until just 0.01btc is grown to become rich? Yes when compared to today's price and yes you calculated correctly, bitcoin has to reach few million dollars. If you are ready and able to invest your income to buy 0.01btc now then, just either do trading and double your amount or if you are not comfortable with short term trade, you can go for long term trade as you already planned but as you did now, just keep investing periodically as much as you can and grow your capital. If you do this then yes you will become much richer soon before Btc reaches 2 millions.

adzino

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It can make you rich if the price of bitcoin is worth billions of dollars. So yeah, it will make you (probably dead you) rich but not now. Maybe after decades. Maybe not during your lifetime. But it is the crypto market. So nothing is impossible. Even if you invested on 0.01 BTC a decade ago or when bitcoin was created, you still wouldn't be rich today. But if you had invested back then the amount that is equal to 0.01 BTC today (around $400 USD), you would have already been super rich by now. Keep investing slowly and hold it for long term.

Kadal Ijo

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Of course this is very dependent on the price of bitcoin, to get rich with 0.01 btc the bitcoin price must reach at least $ 1 billion, the question is is it possible to reach $ 1 billion? the most important thing is that with bitcoin we can get extra money even though it doesn't make us rich.

ultrloa

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Quote from: molsewid on January 08, 2022, 08:55:37 AM

Quote from: LogitechMouse on January 08, 2022, 08:38:16 AM

I don't think so and I don't think that Bitcoin will reach $100M at least until the day I'm still living or not until 2140 when the last Bitcoin will be mined.

Its very hard to see that the main purpose of Bitcoin is slowly vanishing towards the minds of some investors and for the newcomers. They are introducing Bitcoin in a different way. They are introducing it as an asset and not as an currency. An asset that will make you rich but the reality is Bitcoin must be used to buy something without a 3rd party. Well, there is nothing wrong there but at least lets not take out in our minds that Bitcoin really is a currency.

One thing more is that, owning 0.01 BTC and just wait will not make you rich because obviously we still need to work hard and have more income sources in order to become rich. Rich people didn't invest and wait only but they built their own business that made them rich.

Actually owning 0.01 will not make you rich not unless the value of bitcoin will reach the minimum of $2M then you can say to yourself that you are a self-made millionaire. Yes, maybe a $100M value of bitcoin will be going to make you rich even by just owning a 0.01btc but as of the moment because of the bear trends and with the current market value of bitcoin of $41.9k is too far from the reality of being rich just by owning a 0.01btc. 1BTC will definitely be a good number to own but this will probably be a long way to go to be able to own this kind of number but I believe everyone can possibly own this kind of number.

And that is hard to reach since imagine how huge the demand needed before bitcoin could reach at that numbers you said also we should consider the bear market conditions since its a critical events where bitcoin price drops that's why I agree with you or the people other say that 0.01 cannot make you rich since this is only small fraction of bitcoin. Maybe if you own the whole 1 btc maybe its different story to tell in future.

molsewid

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Quote from: LogitechMouse on January 08, 2022, 08:38:16 AM

I don't think so and I don't think that Bitcoin will reach $100M at least until the day I'm still living or not until 2140 when the last Bitcoin will be mined.

Its very hard to see that the main purpose of Bitcoin is slowly vanishing towards the minds of some investors and for the newcomers. They are introducing Bitcoin in a different way. They are introducing it as an asset and not as an currency. An asset that will make you rich but the reality is Bitcoin must be used to buy something without a 3rd party. Well, there is nothing wrong there but at least lets not take out in our minds that Bitcoin really is a currency.

One thing more is that, owning 0.01 BTC and just wait will not make you rich because obviously we still need to work hard and have more income sources in order to become rich. Rich people didn't invest and wait only but they built their own business that made them rich.

Actually owning 0.01 will not make you rich not unless the value of bitcoin will reach the minimum of $2M then you can say to yourself that you are a self-made millionaire. Yes, maybe a $100M value of bitcoin will be going to make you rich even by just owning a 0.01btc but as of the moment because of the bear trends and with the current market value of bitcoin of $41.9k is too far from the reality of being rich just by owning a 0.01btc. 1BTC will definitely be a good number to own but this will probably be a long way to go to be able to own this kind of number but I believe everyone can possibly own this kind of number.

LogitechMouse

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I don't think so and I don't think that Bitcoin will reach $100M at least until the day I'm still living or not until 2140 when the last Bitcoin will be mined.

Its very hard to see that the main purpose of Bitcoin is slowly vanishing towards the minds of some investors and for the newcomers. They are introducing Bitcoin in a different way. They are introducing it as an asset and not as an currency. An asset that will make you rich but the reality is Bitcoin must be used to buy something without a 3rd party. Well, there is nothing wrong there but at least lets not take out in our minds that Bitcoin really is a currency.

One thing more is that, owning 0.01 BTC and just wait will not make you rich because obviously we still need to work hard and have more income sources in order to become rich. Rich people didn't invest and wait only but they built their own business that made them rich.

MIner1448

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I think that our generation, which will invest in bitcoin, will not work out as the previous generation with a price tag of 45-60,000 dollars. Now more and more people are investing in other projects at the start, expecting the same growth from them as from Bitcoin. Bitcoin needs a reset and is attracting fewer and fewer investors due to its very high price tag.

Russlenat

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This is very inspiring, right now it's easy to own 0.01 BTC and I could not imagine that will be $1 million in the future of Bitcoin will reach $100 million. The question now is, is it possible for bitcoin to reach $100 million? I don't know but it seems too high and I think $1 million that time will have a lower value compared to the current value due to inflation, so it's just a game of number than of value.

pawanjain

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Quote from: rodskee on January 08, 2022, 05:51:26 AM

why make it hard to own 0.01 when we can own more than that?

accumulate more bitcoin now and prepare for the future instead of limiting yourself from having that small amount of bitcoin.

i remember back in 2016-2017 that amount is just a signature payment for full member -senior account here in forum and you are expecting that to bring you to richer in future?

I don't think this will ever valued amount that will make us rich instead at least half a bitcoin is the amount to look at.

0.01 BTC won't make us rich any time soon but the logic you have stated is very doubtful.
If you see it from that perspective then we must also keep in mind that people used to get more than 1 BTC for mining with a CPU back in early days.
Those coins come up to a very good amount these days. So we don't know how much 0.01 BTC could be worth in the next 10 years.
Although it might not make us so rich but it might add up to a pretty good amount if the growth of BTC price is exponential.

Mauser

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Quote from: Abiky on January 06, 2022, 09:45:09 AM

What do you think? Is it really possible to become rich with 0.01 BTC in the future? If not, why? Your input will be greatly appreciated. Thank you very much.

I don't want to be the pessimist here but 0.01 BTC seems a bit small to become really rich. Of course that could happen in 100 or 200 years, but right now I would not say so. I could understand that 1 BTC might be worth a million USD at one point, but 0.01 seems small. We all should be able to dream of becoming rich, just not rely on it. Let's say we hold 0.1 BTC, then selling 0.09 right now because 0.01 will be enough to become rich is the wrong idea. My own target is to one day own 1 BTC, even then I wouldn't stop and buy more. So I agree with the long term trend of Bitcoins becoming more valuable, just not that valuable. But who knows, maybe I am wrong, being wrong and making more money is never bad.

mich

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Well since .01 btc is only 1 percent of a full bitcoin I don't think you will be rich in the future just hodling that small amount of coin.
NO better time to stack your bitcoins then during this Bear market.

andriarto

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considering bitcoin users are still 5% of the world's population, I think you will be able to become rich later. even though later it's not you, maybe your descendants will get financial freedom, where if all countries use bitcoin as the main currency. but no one can predict when it will happen. but what is clear is that your money will grow more than bank interest rates

so98nn

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Quote from: Abiky on January 06, 2022, 09:45:09 AM

[...]
What do you think? Is it really possible to become rich with 0.01 BTC in the future? If not, why? Your input will be greatly appreciated. Thank you very much.

I would open up conversation by saying that nothing is impossible. The fact that bitcoin went from few cents to 50K USD in decade of time, its way easy for me to imagine bitcoin going to hundred k or million per btc coin is not that difficult. With the time bitcoin is gonna get deep routed into all the countries with proper infra structure. A time will come when bitcoin would be needed by everyone in a decades time.

Peeps right now are from the crypto generation. The students to teenage to adults to corporates everyone knows bitcoin and they use it or earn it by some means and other.

This is future force will keep the bitcoin going on and will make our dream of 0.01 worth millions.

cheezcarls

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Anything is possible but always acknowledge the risks and there are no guarantees or promises about getting rich by just owning at least 0.01 BTC. Right now Bitcoin is tumbling somewhere around $42k, so I am kinda looking to buy some when it consolidates for a long while.

ChrisPop

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If Bitcoin becomes a widely accepted store-of-value asset, I don't see why not. With the rapidly advancing technology the productivity grows at an incredible rate that will produce large amounts of wealth. Heck, the humanity is now trying to expand to other planets as well. Think about all the locked resources we could find on other planets. The universe is abundant, but Bitcoin is so scarce.

0.01 = 1 centibit
21M BTC = 2.1bn centibits

By owning 1 centibit (0.01 BTC) and if we consider an equal distribution of the BTC supply to the 7 billion current Earth population, the net worth of each person should be around 0.3 centibits = 0.003 BTC. So by owning 0.01 BTC you have the wealth of 3 people together in an equally spread world. But that's not true in practice, because wealth concentrates in the hands of those who provide value to the society. So yes, I'd say owning 0.01 BTC could make you wealthy on the long-term.

KaliLinux

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Quote from: Abiky on January 06, 2022, 09:45:09 AM

I've read a few articles on the web which indicated you could get rich with just 0.01 BTC. At first, it seemed crazy to me considering that Bitcoin is still below $1m. But then it started to make sense after knowing that the pioneer cryptocurrency was designed with deflation in mind. Each halving had a positive effect in BTC's price, so one would guess the next one will lead us to a BTC worth more than $100k. To become a millionaire with 0.01 BTC, the price of one Bitcoin must be $100m. Prices are still volatile, so I'm having my doubts whenever I'd really become rich with just 0.01 BTC or not.

What do you think? Is it really possible to become rich with 0.01 BTC in the future? If not, why? Your input will be greatly appreciated. Thank you very much.

Yes for now it might not really seem as much but considering what could happen as you have mentioned, there is no telling how much Bitcoin could be in another 10 years from now, maybe 100X from its current price, and with that, some investors in some countries will definitely become rich

but I don't think that will make most rich, so it should be more than Hodling 0.01BTC

rodskee

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why make it hard to own 0.01 when we can own more than that?

accumulate more bitcoin now and prepare for the future instead of limiting yourself from having that small amount of bitcoin.

i remember back in 2016-2017 that amount is just a signature payment for full member -senior account here in forum and you are expecting that to bring you to richer in future?

I don't think this will ever valued amount that will make us rich instead at least half a bitcoin is the amount to look at.

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