Will owning 0.01 BTC really make you rich? - page 12.

YOSHIE

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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.

Depending on the country that has the lowest currency in the world, it might be rich, but if you live in a slightly developed country, I think the total bitcoin you have is 0.01 Btc, there is no value.

0.01 Btc, even though the price of Bitcoin broke to the level of $100k, not including the rich, if in total with the dollar only $1000 was earned, although, bought 13 years ago, I think it's still far from being a rich person, my opinion by having 0.01 Btc, not a rich person.

If you talk about 0.1 Btc, it might make sense, but still not classified as a rich person, only has $10,000 dollars, 1 Btc, yes, that's top, rich.

Just look here: What can 1 Bitcoin buy in your country?, let alone 0.01 Btc.

panukurap

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I agree with you that with just 0.01 Bitcoin coins you can become rich. Bitcoin has great value. Especially if we can make good use of 0.01 Bitcoin. We can invest with the BItcoin and increase its value so we will get more money. But you need to be patient to get the profit, not a day or two Bitcoin will make a profit, you really have to be able to hold your emotions. Don't let you sell it at a cheap price.

kryptqnick

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I seriously doubt this is going to happen. If the price goes to even half a million, I can't imagine what it would do to the fees, with people buying more or selling while it lasts. This would bring way more attention to Bitcoin, and thus way more transactions. But I also don't think that being a millionaire is necessary for being rich. In my country, you can buy a flat for $50k, so having, say, around $100k, would make you quite rich. But that would still require the price to go well beyond what I consider reasonable, so I'd say that it's a safe bet that owning 0.01 BTC won't make a person rich. Unless, of course, we consider a very poor economy where people live for $3 per day, so having around $1k is considered being rich.

lovesmayfamilis

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Anyone who thinks that having 400-500 dollars in bitcoins can someday get rich, most likely measured out longevity for themselves. Well, or the concept of wealth for these people is quite modest. I know countries where $500 today is already a lot of money, on which you can live for a long time. But otherwise, such capital is a good fantasy, but it, as it seems to me, will not lead to reality.

galambo

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Quote from: jhonjhon on January 06, 2022, 11:55:44 PM

Well, i think it is possible to become rich with 0.01btc and hold it for maybe 7 to 10 years from now. And you always have to consider rising prices as time marches on. It is also depend not only on your expecation but also on your age because we dont know what will happen next. Life is unpredictable. So live practically. Its not about being rich, just enough to live comfortably.

There is no way we can predict how crypto market will behave after a week or month. We have to be realistic with our investments, nobody can wait for indefinite period of time to get profit. If I invest today then I expect good return in a year or two, so that I can use it for myself and for my family. Whats benefit of increasing your investment if you cant use it.

Raflesia

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Quote from: rozak on January 06, 2022, 10:46:00 PM

it all depends on how he manages the 0.01 BTC he has. if it only lasts for 1-2 years, I don't think it will get any bigger in that time. especially if he just started this year. Thinking of getting rich quickly will certainly be difficult.
another possibility, he can exchange his 0.01 BTC. in simple skills should be able to acquire even if small for every day. and that can make the assets owned continue to grow. most importantly he knows when to enter and exit a trade

Things like this also depend on the person's intention to study and do research because indeed if we have 0.01 btc and only hold the coin then we will still benefit but it's a different story when we have 0.01 btc but traded of course this will into 2 possibilities the first is profit and the second is loss because this returns to the research conducted, taking advantage of the existing momentum and being smart in determining the position where we buy and where we sell

AakZaki

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

~snip~

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.

Of course I think it can happen. If Bitcoin is not dead. If you look at the trade laws that have a limited supply, then of course BTC will be more expensive because of the desire and limited amount. But that's just an analysis that might happen beyond predictions that is purely market-like. Maybe if you just keep it it will take a long time, but if you keep trying to multiply your BTC it could have a shorter chance of making a lot of money. In essence take advantage of the current market conditions, because if you are disappointed to see the past it will not come back again.

Chato1977

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It will take 10 or more years before that amount cover a 1 million dollar value so NO, this will not make you richer in the years coming.

but if we are talking generally in no time zone ? then of course if bitcoin reach a billion dollar value in the many years ? then yes we will be rich .

Poker Player

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As the OP does not specify a time horizon, I answer no. 0.01 Bitcoin given a long time may become a good fiat equivalent, but at that point fiat will be highly devalued. Then we would have to see what is meant by "rich", but I would say that for that 0.01 Bitcoin would have to be equivalent to $1M today, and I do not see it. Apart from the fact that, as stompix says, this would mean 5 times the total global wealth, so no.

jhonjhon

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Well, i think it is possible to become rich with 0.01btc and hold it for maybe 7 to 10 years from now. And you always have to consider rising prices as time marches on. It is also depend not only on your expecation but also on your age because we dont know what will happen next. Life is unpredictable. So live practically. Its not about being rich, just enough to live comfortably.

rozak

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Quote from: riso2015 on January 06, 2022, 10:25:43 PM

human nature will never be satisfied with what he has, if he already has 1 coin, surely he will want 2 coins, that is human nature, which is always greedy and always not enough, if you say if we have 0.01 btc can we be rich, if according to my answer personally it depends on when we have bitcoin, if you have bitcoin in the past ten years maybe your life has improved, but not rich, but if you want to buy now most likely you will not be rich, because the price of bitcoin will never go up high like the price you buy now..

it all depends on how he manages the 0.01 BTC he has. if it only lasts for 1-2 years, I don't think it will get any bigger in that time. especially if he just started this year. Thinking of getting rich quickly will certainly be difficult.
another possibility, he can exchange his 0.01 BTC. in simple skills should be able to acquire even if small for every day. and that can make the assets owned continue to grow. most importantly he knows when to enter and exit a trade

riso2015

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human nature will never be satisfied with what he has, if he already has 1 coin, surely he will want 2 coins, that is human nature, which is always greedy and always not enough, if you say if we have 0.01 btc can we be rich, if according to my answer personally it depends on when we have bitcoin, if you have bitcoin in the past ten years maybe your life has improved, but not rich, but if you want to buy now most likely you will not be rich, because the price of bitcoin will never go up high like the price you buy now..

bitterguy28

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If bitcoin in the future reached 1 million dollar value then 0.01 bitcoin will be 10 thousand dollars in which in some country that is a Big amount already and can give a good funds for starting business in real life.
But in our recent situation this amount does not bring luxury instead this is a Small amount to start with.
and if this will be valuing more than a million then no wat that someone will oppose that you will be rich then having this amount .

maju69

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I can define what being rich means to me, but I can't draw the conclusion that being rich according to other people. Which "Rich" fits the specs? Because everyone is different in the same content, but of course in terms of the standard of thinking of course in this case in the sense of "rich".

Shasha80

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Quote from: Issa56 on January 06, 2022, 06:17:00 PM

I believe if you are having that kind of amount, I believe currently you should be financially fine am talking about my country I don't know about other countries because our living standard is just kind of different and I believe if you can leave 0.01btc for few more yeass then you will be very rich.

Every country does have a different standard of living, if we live in third world countries, looks like having 0.01 BTC can already do a lot.
At least 0.01 BTC can be used for business capital, and if we use it well, we can become rich people. So after all Bitcoin can indeed help
the economy of many people, then for some poor countries it is not necessary to have 1 BTC to be rich. That is why it is very important
to collect Bitcoin according to our respective finances, in order to collect and improve our respective economies. Therefore, the popularity of
Bitcoin is increasing every year, because Bitcoin is proven to be able to create new rich people. The conclusion is how much Bitcoin we have,
if used properly will open up opportunities to become rich people.

bhooscream

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What do you mean?
$100m? DO you know how much is that if compared to my fiat?
Maybe you mean $100.000 ($100k), not $100m?Actually, rich is dependable on who you are. If you are exactly rich people, 0,01BTC will not mean many things. But for the other people, it may be huge enough and enough to call themselves as rich. And it will also depend on in what country you are living.
However personally, I am not sure that owning the 0.01BTC means we are rich or we can be rich.
It needs more steps and also amount to call us as rich, and we may not need to acknowledge ourselves to be rich but other people will do it.
And if we are willing to use it for investment or trading to earn more profits, it means that we need something to work on this and get more and more profits to start being rich as we like.

Natalim

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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.

That is possible...Like if Bitcoin price will reach $1million, if converted to our local money, I can be a billionaire that time, who actually knows, right?

But not actually makes sense, for now, it can be far from happening but in regards to having 0.01BTC in your control, it was not enough to make you rich if you just hold them. Maybe if you use this to run for a business, that comes to possible but if not, it won't multiply on its own and it remains 1.01BTC till you decide to sell or add more.

Issa56

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I believe if you are having that kind of amount, I believe currently you should be financially fine am talking about my country I don't know about other countries because our living standard is just kind of different and I believe if you can leave 0.01btc for few more yeass then you will be very rich.

mynonce

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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?

We don't know. But let's say someone asked the same question 10 - 12 years ago, then ...

Quote from: mynonce on December 28, 2021, 03:12:31 PM

Back in 2010, Joey Rich opened a thread https://bitcointalksearch.org/topic/buybitcoinscom-50000-bitcoins-for-sale-at-15-btcusd-987:

Quote

BuyBitcoins.com is back online. Right now you can buy bitcoins with a credit card, or through paypal. Currently 50,000 bitcoins are for sale at a rate of 15 bitcoins per dollar (0.077 dollars per bitcoin). Payments must be between $4 and $1000 dollars.

-Joey Rich
https://www.buybitcoins.com

50,000 BTC for sale - 15 bitcoins per dollar (0.077 dollars per bitcoin)

... like you, he/she would have invested ~100 USD and had bought 1500 Bitcoin.

If he/she asked that question 'Is it really possible to become rich with 1500 BTC', back in 2010, what would be the answer?
But most of them (BTC owners) sold at ~10 USD per Bitcoin.

Mahanton

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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.

Possible but everything couldnt be predicted! We should be at least realistic when it comes to future goals because we dont know on what would happen next because everything would really depending
or varying on the demand which simply means that dont anticipate on getting rich on having only 0.01 btc because considering on what would be the price of a whole coin with those fractions
then this is something a close to near impossible thing to happen thats why dont make your hopes up and stick and deal with the current trend as of this moment.

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