Topic: Will owning 0.01 BTC really make you rich? - page 11. (Read 2777 times)

Even if bitcoin reaches the dream price of 1 million dollars yet this bitcoin will valued 10,000 USD in which still low to be considered as rich people.

so meaning 0.01 bitcoin will never make a person rich even if bitcoin take 10 million as this will increase to 100k and still not that high.

so i think the amount to be considered as good for the future is at least 0.1 bitcoin or more than this .

Maybe, depending on the location where you're going to value that 0.01 BTC * $1M. Let's make an example of putting that into $1M and that would be $10K in valuation. If it's in a third world country, that would make you at least financially stable but if we're talking about 1st world countries, that isn't really that much less the taxes. The most important thing to do is don't settle just for 0.01 bitcoin and hope that it will make you rich, the goal is to stack as many bitcoins as you can.

Bitcoin is definitely not on life support, it's stronger than ever, it just got it's 13th birthday.

Price fluctuations in the short term are irrelevant.

I currently own 0.05 bitcoin so i think it's good enough to make you rich. If you invest $1k in the beginning of 2021, it would be like 2k today. If you are cheap, I would recommend invest 0.01 bitcoin to get the good earnings but it will take time. Right now, bitcoin is on life support and dropped 20k since November so watch out for another dipping.

Given the ever increasing expenses for daily living everywhere in the world, I don't think that 1 bitcoin is ever enough to be considered rich or even survive for the rest of your life, maybe if it's reached a 100 million in value then probably my statement would be false but for now, it wouldn't be enough.

If someone can have 0.01 btc from a long time ago and he bought that when the price was very low, that will be worth it because if he sells his bitcoin now, he will make a lot of money.
But still, we are never satisfied with what we have and always want more to fill our hunger.
So even if the bitcoin price is at $100k or more, he will feel 0.01 is not enough and want to get more and more bitcoin as he can.
But if the price really hits more than $100k, 0.01 bitcoin is meant for us because that means we will make a lot of money.

I'd rather have to make use of it to start a business than just hold them. If that went successful, I could really make myself rich but if we just keep it, I don't think so. Because 0.01 BTC is pretty small, maybe if the value of Bitcoin is $1million and having a chuck of 0.01BTC is really hue especially when converted to our fiat money. But what I've said, it never increases if we don't anything. So, there should have an incoming income from 0.01BTC or else, that will only be used for leisure and lose all of them.

It depends on how we use the 0.01 BTC we have, if we hold it in the long term of course it can make us rich. We can also use 0.01 BTC as capital
for trading, so we will become rich if we can accumulate the profits we make from trading. Then regarding your first goal of having 1 BTC,
you should continue to fight for it until you actually get 1 BTC. As long as you try hard and don't give up, then I believe you can have 1 BTC.
Everyone has the opportunity to be rich, therefore never stop trying, as long as we continue to struggle to make more money then we will get
closer to being rich.

Holding as a whole seems to make you rich. If the question was asked ten years back, very few might've given a strong positive answer. Now 0.01BTC in today's value is $420. Just think of the same investment ten years back, now you could've turned super rich.

The growth has attained a level, we can't expect much bigger growth to happen beyond this. So, 0.01BTC won't make people rich. Maybe if lucky scenario could change. This is my personal opinion and this doesn't mean to mention anything negative.

If inflation on Fiat keeps rising, then one can easily become "rich" with 0.01 BTC. But that's relative, since Fiat will cost a lot less in the future. Being a "millionaire" by then, would be like being a "thousandnaire" today. We should focus on getting more than 0.01 BTC just to help secure our financial future. 0.01 BTC equals 1m satoshis, so you'd be considered wealthy if "hyperbitconization" becomes a reality. People would start valuing things on satoshis instead, as Fiat loses its luster in the mainstream world. As long as you're able to gain financial freedom with Bitcoin, the rest doesn't matter. Just my thoughts

It depends on where do you live, on american standart being "rich" is when you have networth around 2 mils USD, that means owning that little BTC won't make you rich right now and even in the future.
But from 0.01 BTC could you be rich ? ofcourse yes if you are lucky enough to invest on a hype tokens just like the doge and shiba inu before, but the chance is so small.
Or you are good enough to manage to 0.01 slowly and got stable profits every day, i'm sure you could be rich also

Buying and owning 1btc above now already show that you are rich, and had the purchase it, but other than that owning any BTC like 5 yrs before now show you had invested in it when it was low and you had watched it grow so  if you own 0.01 Btc five years ago you would be rich by now, and if you buy same amount today and keep it for the next five year I can vividly assure you that you would be rich, Bitcoin and crypto-currency makes millionaire with time, so all you have to do is buy that amount of Bitcoin right now and hold on to it, your riches would be unlimited.

Bitcoin is a currency. Owning a currency will never make you "Rich". Being Rich means you have a lot of diversified assets such that you have steady streams of income which will continue to serve even in your absence.

Owning something like Bitcoin is hardly a claim on future earnings. The "deflation" thesis can only work for so long. And in my opinion, that time has long gone. The people who were meant to get lucky on Bitcoin have already gotten so. Owning it or DCAing into it will no longer make anybody. It is now a source of returns and volatility above average than what other assets can offer.

What Bitcoin will continue to offer is access to knowledge and community that is hard to replicate or find elsewhere. The only way to get rich is work your ass off on all the stuff that keeps popping in 2-3 year cycles around Bitcoin, including Alts, NFTs, DeFi etc etc. Bitcoin gaming could be next. Lightning Network enabled DEXes and leveraged trading could be next.

Stack Sats but don't expect them to make you or anybody else rich. For example, if you are like me and not rich even after being here since 2017, then you are most probably amongst the people who will not just someday "strike" gold. Just do your work, say your prayers and hope that something good will keep coming along your way.

I think it's true, because I think the value of bitcoin could be 0, it's not wealth that is given but poverty that is obtained, think more rationally if you take conclusions in action, if you have made a profit, let go of your money in stabelcoin

Rich as in becoming a crypto millionaire? Nah, I doubt that this amount will be enough though. I think the main goal for us is to really reach that 1 btc in our wallet and I think that will be enough to have a decent savings in terms of fiat. Or if you live in a country wherein the USD value appreciates then probably it can make you a crypto millionaire when the demand of bitcoin shoots in the next 12-16 years or at least 4 halvings.

Makes sense actually. Remember the times when the denominations and payouts of campaign signatures where around 0.05 BTC/weekly for Jr. Members? Every time a fork happens, its denomination is halved making it more inflationary and more valuable. That is why the value of BTC increases every time a fork happens.

To be honest, owning 0.01 BTC does not automatically make you rich but it does have the potential of giving you large amounts of resources in the future if you HODL it for long-term.

Getting rich just by having 0.01 BTC for me is impossible if you just keep it in your wallet and wait for the value of 1 BTC to reach $100 million, how long do we have to wait for that uncertainty, besides the value of a person's wealth is also different, not all can be judged by amount of assets.

This is not a surprise to me because I have seen people where discussing about bitcoin to be valuing 1 billion dollar in next 40 to 50 years of time. So, as per your calculations, people might need 10x lesser growth for bitcoin to be millionaire. When more people to join this crypto space with the plan of saving 0.01BTC for next few decades then bitcoin will test any huge price easily.

0.01 BTC will make you millionaire if you are capable of convincing more people to adopt bitcoin with long term plans (I am not mentioning this by having network marketing in mind but it is all about mass adoption of bitcoin).

Yeah, people who understands the design aspects of bitcoin and its potential will definitely agree about such speculations on huge value of bitcoin.

In long term yes. Actually my first goal was to have 1 BTC through trading but I think it's a little bit hard for me so right now I'm into trading and managed to have around 0.01 BTC but compare it to the price now I think it's not enough but Bitcoin is for long term and for sure it will increase in the future so having 0.01 BTC saving was a good idea and probably make you rich in the future.

But I don't think how patience will work for all of us. If we are having 1BTC, that seems to be right and really a big money but for just having 0.01BTC? We can just use it all for less than a year or even lower.
What I think is that maybe converting that amount to our fiat money and using it for capital (business), well, that could help a lot. But if we just hold it, we do nothing with them, I can't imagine how it makes us rich. That is really a small amount to say that we become rich.