Will owning 0.01 BTC really make you rich? - page 14.

NeuroticFish

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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?

In theory sky is the limit, hence 0.01 BTC can make you rich somewhere in the future. I can't tell how far (or near?) will that be. People do talk about starting to think in satoshis and what you've presented is 1M satoshi.
Now, it also depends on what one thinks as rich. For some $1M is already there, some may go even lower than that, some may want to buy a $10M mansion as a starter. People are strangely different.

But then, sky may actually not be the limit. Because at this values, one could not send on-chain less than the equivalent of a good number of thousands of dollars, the minimum fee would worth hundreds of dollars already... and the world's fiat/wealth may not be capable to sustain that.

What I mean that there may be a chance that at some point people will get rich having 0.01 BTC, but at that point this amount will no longer be quantified in USD.

oHnK

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This question may also have been asked by those who owned BTC from the start, but at that time many denied the future of BTC and said BTC was just a scam. But look at those who in the beginning had only 10 BTC with a value of 10$ at that time, now have 10 BTC worth 420K USD. Who would have thought it all? BTC is a currency that has a role as a store of value, so there is nothing wrong with whether you can become a billionaire by owning BTC, because it has already been answered. We just have to agree in the current bubble, don't be influenced by issues and hold your assets. in the next 20 years no one can guess at what price BTC will be.

mk4

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Owning bitcoin in itself right now won't make you rich. It's a lot more of the fact that it will give your savings a nice boost, compared to just holding fiat where the value is guaranteed to drop slowly but surely. Some people think that solely holding bitcoin will save get them out of poverty; nope. You're going to need to actually earn money, obviously.

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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.

As you say, we would need bitcoin price to reach $100 million in order for us to become a millionaire with 0.01 BTC.
I don't think that will be happening until next 10 years. As the price of bitcoin is increasing it is taking more amount of marketcap to increase the price of bitcoin.
I can't even imagine how much marketcap would be needed for bitcoin to reach a price of $100 million.
Would we even be alive to watch BTC reaching that price though ? I certainly don't think so.
At the current state crossing $100k would be the first target which seems quite achievable.
1 million per bitcoin would be the next target which seems questionable for now.

Lucius

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

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.

You ask a question and give an answer - do you think Bitcoin will ever be worth $100 million? If you don't think so, then with 0.01 BTC you certainly won't become a millionaire in $ or EUR, perhaps in some worthless national currency. In developed countries with a high standard, even 1 BTC does not mean that someone who owns it will be considered rich even if the price reaches $100k or more.

On the other hand, 0.01 BTC even today means a lot in some countries, although $400 doesn't seem like much - some people can't earn that much for a whole year.

glendall

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if you look at the past 10 years if you buy bitcoin at 10 $ I think yes. I was rich if I sold bitcoin at 60k$ yesterday, but human nature never feels fast and the ambition to have bitcoin is very high, so no matter how many bitcoins you have, and no matter how much bitcoin you will never be satisfied. at a certain price,
and if we buy bitcoin today it might be said to be a fool to buy bitcoin at a price of 45k $ but let's see in the next 4 years bitcoin will definitely provide the same value if we buy bitcoin today as we bought bitcoin in 10 years ago

Abiky

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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.

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