Will owning 0.01 BTC really make you rich? - page 2.

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Quote from: Rabi3 on June 05, 2022, 06:19:13 PM

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.

i don't think if you buy 0.01 btc now you'll get rich at some point, it's too good to be true, back in the day it was possible and some people even did it, but with the high adaption bitcoin has reached it's so hard for it now to go up to $100k without talking about a million or more like you mentioned 100 mil, that's a crazy number that will make bitcoin with a crazy marketcap, it's worth a try tho if you have 0.01 btc laying around, you could get a big interest but to be rich from that is almost impossible now.

There was a time when 0.01 btc was around 30$ and now it is worth 300$. That is 10x increase in the worth in only 3 to 4 years. Considering this growth rate, we may see 0.01 btc priced at 3000$ in the long term. Even this amount will not make you the richest person in the world but still holding bitcoin as much as possible is beneficial.

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Quote from: n0ne on June 05, 2022, 03:14:56 PM

The supply of bitcoin is limited to 21million. This means for now 21BTC could make one rich. Having such a number of bitcoin will make one among the million. With just 0.01BTC becoming rich is really an impossible thing for now and for the future. In today's price a single bitcoin can make me rich in my country, but if I spend those bitcoins without doing any job further then it'll get over within two years time.

I like that idea, you can use your btc as your investment capital.,

either to continue working with crypto or look for sustainable small business to start and aim for good success using your initial capital.
But if you will just lean with .01btc on this current condition, it can't sustain your needs for a whole month or two.

Making you rich is beyond your actions. Hold or work along with your money. Do have outcomes, either for the best benefits or
for the worse turn around.

Rabi3

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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.

i don't think if you buy 0.01 btc now you'll get rich at some point, it's too good to be true, back in the day it was possible and some people even did it, but with the high adaption bitcoin has reached it's so hard for it now to go up to $100k without talking about a million or more like you mentioned 100 mil, that's a crazy number that will make bitcoin with a crazy marketcap, it's worth a try tho if you have 0.01 btc laying around, you could get a big interest but to be rich from that is almost impossible now.

MommyElsa

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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.

I believe in bitcoin. I believe that the price will increase more. I will not become rich with .01 btc right now. I am hoping that someday, i will become rich with btc investment.

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Quote from: KennyR on June 05, 2022, 05:08:36 AM

According to today's price of bitcoin, 0.01BTC is valued to be $300. If we consider the ath price of bitcoin then 0.01BTC will be around $690. The price needs to reach atleast $1m for 0.01BTC to be valued $10000. With this one can have a small house and fulfill few more needs in a third world country, but for the same to happen it takes more years.

And that $10k isn't that much in other countries but sure in many countries, having that $10k will make you look wealthy. But, it's like a one-time ticket that you have to use and spend on better things. You can buy your house maybe like a little one which is gonna make you fulfill a part of your dream but if you're living in a country that has an expensive cost of living, this won't make you rich at all.

Quote from: KennyR on June 05, 2022, 05:08:36 AM

Getting rich out of bitcoin is getting harder with time, and in my opinion now it is time to get rich through altcoins.

I'll still hold on to bitcoin that will be the one to give me a better future. Although I've seen too many people that have made their wealth with alts luckily. Yeah, all about luck and choice.

Awaklara

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If we compare the price of Bitcoin a few years ago and now, having only 0.01 BTC will not make us rich because if we pull the current price rate of 300$, the Bitcoin price must be 10x larger than the current price and it will likely take a very long time or never even reach that price so the assumption that only having 0.01 BTC at this time can't make us rich especially just with long-term holding it will take a very long time and it's not worth it.

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The supply of bitcoin is limited to 21million. This means for now 21BTC could make one rich. Having such a number of bitcoin will make one among the million. With just 0.01BTC becoming rich is really an impossible thing for now and for the future. In today's price a single bitcoin can make me rich in my country, but if I spend those bitcoins without doing any job further then it'll get over within two years time.

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Quote from: blatchcorn on June 04, 2022, 11:51:06 PM

Right now on Preev.com 0.01 BTC is 297 USD. So you can easily see what that means if you own a 0.01 BTC, Price of BTC fluctuates and if it crosses 100k mark then 0.01 BTC will have some decent value. I would say there is no amount of bitcoin that can make you rich because we are not clear on what lies ahead. BTC is sometimes on 60k, sometimes on 29k.

Yes, it is difficult to say how much bitcoins we hold that will make us rich, because markets are unpredictable. But holding bitcoin is a good thing and we should do it regularly, collecting as much bitcoins as possible, Bitcoin may not make us millionaires, but bitcoin is a safe haven and a very good long-term investment. Those who hold bitcoin in the future at least have a life that is not too strenuous.

KaliLinux

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Quote from: KennyR on June 05, 2022, 05:08:36 AM

According to today's price of bitcoin, 0.01BTC is valued to be $300. If we consider the ath price of bitcoin then 0.01BTC will be around $690. The price needs to reach atleast $1m for 0.01BTC to be valued $10000. With this one can have a small house and fulfill few more needs in a third world country, but for the same to happen it takes more years. Getting rich out of bitcoin is getting harder with time, and in my opinion now it is time to get rich through altcoins.

Richness is subjective. Even though I agree with your argument, there are still places in this world where $10k would be all they need to consider themselves rich and be able to sustain their families onward. That said, I too don't see a 0.01BTC holding as making you rich anytime soon from all analyses so we need to be looking at HODL more bitcoin with the current market prices.

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Quote from: FIFA worldcup on February 27, 2022, 12:40:45 AM

Quote from: lenovop-70 on February 18, 2022, 11:09:16 AM

If Bitcoin reaches a price above $100K, maybe yes you will be rich, but it won't take long if you don't use it wisely, it will just flow out.
Talking about its value, 0.01BTC wouldn't be worth it here if we didn't convert it to Fiat, and I think it's the same in most areas that don't yet accept Bitcoin as a legal currency.
So my answer to this discussion is, 0.01BTC can make you rich if you play the money wisely.

Today this 0.01 btc did not look a big amount but one day it will be enough to count you in the rich people if you have it. Think of 1 bitcoin price in 2015, if you had 1 bitcoin since 2015/16 you are not among the millionaire.
The same will happen with 0.01 btc in next 10 years.

0.01BTC doesn't look like wealth at all right now. Even with a rate of $10.000 for 1 BTC, it will be only $1,000, which is also not the ultimate dream of investors. At a rate of $100.000, this will also look different from wealth - $10,000.

But what is wealth? What amount can be considered as wealth? $10.000, $100.000 or $1000.000? Most likely, $1.000.000 is the best amount. Then how much should bitcoin cost so that 0.01BTC holder can be called a rich man? It turns out a fantastic amount of $100.000.000. Theoretically, this is possible, but not a single holder is physically able to wait for this moment, unless, distant descendants will find that glorious time.

Therefore, my verdict is this: 0.01BTC will not make you rich (maybe only your great-great-great-great-grandchildren), but 1BTC is quite real (at a rate of $1000.000), but you will have to wait more than a dozen years.

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According to today's price of bitcoin, 0.01BTC is valued to be $300. If we consider the ath price of bitcoin then 0.01BTC will be around $690. The price needs to reach atleast $1m for 0.01BTC to be valued $10000. With this one can have a small house and fulfill few more needs in a third world country, but for the same to happen it takes more years. Getting rich out of bitcoin is getting harder with time, and in my opinion now it is time to get rich through altcoins.

sklopan

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Do not think that such an amount will make a person rich. First, this amount is quite small. And secondly, you should understand that the rate is quite dynamic, and the amount can change very quickly.

UmerIdrees

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Quote from: bitbunnny on February 20, 2022, 08:24:19 AM

Everything depends how the Bitcoin price will develope with time. But I think when we talk about Bitcoin it's very hard to predict how much coins one should own to become rich because of high volatility.
However, my advice would be to accumulate as much Bitcoins as you can and there is absolutely no guarantee that you will become rich but you will definitely have some valuable asset that might be your financial back up and some kind of safety.

I don't think that you can be rich if you only have 0.01 btc unless you are living in 2050 when bitcoin price may be million of dollars

I do not have any target in mind as how much bitcoin should I collect in order to be rich in the future. For me, I try to save every bitcoin and not spend them.
Roughly, I think everyone should have 0.1 bitcoin if not more.

blatchcorn

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Right now on Preev.com 0.01 BTC is 297 USD. So you can easily see what that means if you own a 0.01 BTC, Price of BTC fluctuates and if it crosses 100k mark then 0.01 BTC will have some decent value. I would say there is no amount of bitcoin that can make you rich because we are not clear on what lies ahead. BTC is sometimes on 60k, sometimes on 29k.

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Quote from: Viscore on February 27, 2022, 12:31:40 AM

In my own opinion,owning 0.01 bitcoin will be considered as a rich person.For the average people, that amount is too big/huge for them.Holding one bitcoin is definitely a life changing profits.But for some people who are already rich, one bitcoin is just a normal amount.Thats why they keep on buying more bitcoins to become more filthy rich.

Is big but it's not really big, because some people will have it and it will not serve or add any to their life, but their is people who will have it and it will become very nice opportunity to start something Mega, and this depends on the country we have or we live, if rich people hold bitcoin for long and knowing that holding it for awhile will make them more richer when they had money already, that means the money is for their children and the investment for the children not for their use, but opportunity securing by a Rich man, that is how i aeen it

FlamingFingers

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That amount is too small for you to get rich, even if bitcoin gets to hundred thousand per dollars that's just a thousand dollars, and its not possible for bitcoin to attain such price for now so if you can try to get at least 0.1 bitcoin, when bitcoin gets to hundred thousand dollars thats gonna be like ten thousand dollars it's still huge depending on the country you come for

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Quote from: Viscore on February 27, 2022, 12:31:40 AM

In my own opinion,owning 0.01 bitcoin will be considered as a rich person.

*Provided that the user never touches it, or tries to be "smart" by attempting to multiply it repeatedly.

You have to add this postscript to all statements like these, because too many people come to this space thinking they're going to get rich, when in fact, their fortunes will be mostly the same as when they first came.

Fesatmas

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Quote from: Viscore on February 27, 2022, 12:31:40 AM

In my own opinion,owning 0.01 bitcoin will be considered as a rich person.For the average people, that amount is too big/huge for them.Holding one bitcoin is definitely a life changing profits.But for some people who are already rich, one bitcoin is just a normal amount.Thats why they keep on buying more bitcoins to become more filthy rich.

True it depends on our financial situation, some people may have 0.01 btc will feel very enough, but not for some people. Back again how the financial situation of the person. But for now I think that having bitcoin is no matter what the nominal is, because it is not a nominal problem but in my own environment it is still rare to know bitcoin, let alone have it.

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Only if the bitcoin value rises to manifolds in a certain amount of time. The market is changing every day and it’s not a good thing to take risks just because you are hopeful.

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Quote from: jhonjhon on February 25, 2022, 04:58:50 PM

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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.

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.

In my own opinion, this could take time within maybe 15 to 20 years to become rich.Many people have already become absolutely super wealthy rich from holding bitcoin.If you buy today the key is not to sell.The key is to hold it for the future.I think that 0.01BTC big step for everyone to become rich.

But in some point,0.01BTC is already a life changing.. You'll not become quickly rich, but it can make your life easier.. You can actually buy a house with that amount. Or you can start for a new business.

right, it takes a long time to get rich with 0.001 BTC, but if we have that asset, and we diversify into several altcoins, it may be able to cut the time to get rich, although it carries a higher risk, but if we have the knowledge, why no we do it, even many new altcoins have increased by thousands of percent, but indeed we must have the expertise to analyze

That is the other way of saying that holding a 0.01 BTC won't make you reach but investing it on other assets other than crypto can make it faster. Jumping into other assets where you have zero or low expertise on that said field is very risky that's is why before making a step, we need to do some feasibility study and research especially if it is a business that you yourself are the who will handle it wholly. Same step we need if it's investing in assets or stocks.

But base on the question of the OP, will owning 0.01 BTC will make you rich? As of today, the answer is plain NO.

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