Will owning 0.01 BTC really make you rich? - page 7.

Abiky

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Quote from: Ultegra134 on January 23, 2022, 12:02:52 PM

Am I the only one who finds these kinds of predictions incredibly stupid and naive? I believe in Bitcoin, but I highly doubt it that it will be ever worth that much. I seriously do not understand who, why and how they make such predictions. How can someone come up with such an ambitious projection, especially now, with the $100.000 mark looking too far away and unrealistic for the time being.

If only you understood what Bitcoin is all about, then you wouldn't be making such comments. The fact that Bitcoin is deflationary, tells us that its price should go higher over time. Not only that, but Bitcoin is the most decentralized cryptocurrency in the world. $100k is nothing considering that Bitcoin is the best sound money the world has ever seen. With Fiat currencies' inflation on the rise, we should see a Bitcoin valued over $1m at a very fast pace.

Knowing that Bitcoin kept reaching new All-time-highs over time, tells me that it's possible to become rich in the future with just 0.01 BTC. The chances are even higher when you accumulate more than that. Right now, Bitcoin's price is declining so it's the best time to grow our stack of coins before it's too late. Who knows how far Bitcoin will go in terms of price and mainstream adoption? Just my thoughts Grin

Ultegra134

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Am I the only one who finds these kinds of predictions incredibly stupid and naive? I believe in Bitcoin, but I highly doubt it that it will be ever worth that much. I seriously do not understand who, why and how they make such predictions. How can someone come up with such an ambitious projection, especially now, with the $100.000 mark looking too far away and unrealistic for the time being.

mia_houston

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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.

Owning 0.01 bitcoins is not a guarantee that wealth will be yours even after 10 years, let's say today the exchange rate of 0.01 bitcoins is equivalent to $359 (bitcoin price $35,989), and you keep it for about 10 years so that bitcoins go up to $1 million, don't you just have money around $10,000 in 2032? I think $10,000 is not a high enough value for money in 2032 because it is certain that in 10 years the world will experience many changes, including in terms of currency values , price of goods and services, so in my opinion if you really want to become a millionaire by only having bitcoin around 0.01 of course it is impossible.
But if you use 0.01 bitcoins to continue trading continuously in the market, chances are that you will be able to double the number of bitcoins you have from now on and if you are lucky maybe from 0.01 bitcoins, you will have 1 or 2 bitcoins and maybe more in the next 10 years.

Gamerholic

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I think what makes a person "rich" is the level of his awareness and intellectual development, the level of culture and philanthropy. The rest is secondary in my opinion. As for material and non-material values such as cryptocurrency (any), it always enriches a person with new skills and knowledge that he did not have before. Therefore, I am sure that any amount of any cryptocurrency and the skills to receive and manage cryptocurrency is a blessing that brings joy to a person and the pleasure of owning something "new".

StarKay

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0.01 BTC will not make you rich because there is a limit that the value of Bitcoin can reach and it's not possible for Bitcoin market capitalisation to surpass GDP of countries like China and USA. We are already experiencing a price correction from the recent rapid rise in bitcoin.
But 0.01 BTC will be worth more than it's fiat currency equivalent let's say 5 years from now. I think BTC is more of securing values than creating wealth.

yoyo20016

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If we choose the price of 10 million par btc,like Hal said in one of his messages,it will be 0.01btc=100k usd. But we need to focus in the price of objects in btc. But the real benefit from btc is his limited supply. Imagine 100k could buy you a big house,but in 10 years when 0.01btc = 100k ,the same amount of money could buy you a small house. The 7% of inflation in the usa is so big. Grin

yazher

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If we really follow the price history and if it would gonna multiply the price until the last bitcoin has been mined, then that would be possible but it's a long way to hold because we are talking 0.01 BTC only not 1 or more BTC. You're not gonna make it with your limited life span because you're holding a low amount of BTC. You're not gonna be rich but you can assure with the money you invested will get some more percentage in the future depends how much you will hold. In my case, if I have 0.1 to 1 BTC I'm already rich.

Dr.Osh

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Quote from: TribalBob on January 22, 2022, 10:34:21 PM

0.01 btc will make you rich in the future I think 'yes', because we don't know the price of bitcoin in the future can go up or down but I'm optimistic that my bitcoin will give you wealth in the future and hope it's when I really need money

I like your optimism. however, we recommend that you have more than 0.01 bitcoins at the time to be more sure that you have more than $100k. however, we don't know how long we will wait for it. however, even if it is possible, the potential is very small.
well, if you believe with 0.01 bitcoin you can get rich, then I feel that having more than that in anticipation so you can become richer, then collect at least 0.1 bitcoin or even 1 bitcoin for the future.

TribalBob

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0.01 btc will make you rich in the future I think 'yes', because we don't know the price of bitcoin in the future can go up or down but I'm optimistic that my bitcoin will give you wealth in the future and hope it's when I really need money

DoublerHunter

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Quote from: CDC AP on January 22, 2022, 01:53:33 PM

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".

^ Speaking of rich I think it has a consistent source of income, it is really hard to determine a rich but for me, this 0.01 BTC is enough amount that you will get rich in the future, that is still a small amount right. 1-2 BTC is considerable because it has a million dollars value and for sure you will become rich on that. Probably after years and sounds 10 years from now, it could be that amount seems hard to have because of its value. Dont expect too much when you are investing in crypto but be wise enough not to sell your coin under the price when you purchase it.

doomloop

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Quote from: BitTalk21 on January 21, 2022, 03:17:39 AM

It's very certain to become rich with 0.01BTC. I have 1 btc in 2014 and ready to sell it even comes near 2k.
after watching todays market many old bitcoiners had done big mistakes no one can predict what future is going to be.
0.01 is a nice investment if it keep increasing on same rate.

If ever you still have your 1 btc today, its value is still far from a million dollar or not unless if your living on the countries where the dollar rate is much higher. Being rich could also depend on our preference and not does not only equate to a million cash.

Some people will feel rich already if they have hundreds and thousands of cash. 0.01 btc would not make us rich by now but 0.01 btc has a nice value and will only get better as time passes by. 0.01 btc is also not the max limit that a person can hold but it will be better if you can gradually add more btc in to your stash.

CDC AP

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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".

fenican

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No. It means you are a $400'anaire, give or take depending on market price.

KaliLinux

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Quote from: ?? on ??

The question is, how do you own 0.1 BTC in 2022 ?. If you look at the value of bitcoin and market place, it's hard to earn such an amount. The only way to make 0.1 BTC is an investment, but it means you're already rich if you're buying it. Why would you believe it when you already have enough money?. If you go back and invest like $8 to $10, it might become rich. But in today's generation, no one can earn such an amount, not even with mining.

I don't think it is a question of you investing in it once, this is where most people get it wrong. Bitcoin and other cryptocurrencies happen to be what you can buy in bits which is also good, that give the average investor an opportunity to buy little and little to be able to accumulate to that amount of 0.1BTC and I believe this is doable which is the whole essence of DCA.

BitTalk21

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It's very certain to become rich with 0.01BTC. I have 1 btc in 2014 and ready to sell it even comes near 2k.
after watching todays market many old bitcoiners had done big mistakes no one can predict what future is going to be.
0.01 is a nice investment if it keep increasing on same rate.

filmesoydo

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Yeah...probably,not 100% depending on btc price,but people often forget that,country,living and economics plays the bigger part in that question,if its a third world country,sure,you will probably live like a king,but on New York or London ? in that case i wouldn't have my hopes up.

Abiky

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Quote from: LUCKMCFLY on January 17, 2022, 11:39:39 AM

I am one of those who think that around one to 10 to 15 years those who have that amount of BTC will be rich, the reason is simple, if BTC is about to reach $ 100k and surpass the mark, I think that in about 15 years, the The price of BTC will be through the roof, it will be something unique, and for this reason that amount of BTC will be enough for 1 person to live in peace and with the comforts he deserves.

Currently it does not represent a lot of money, because for some it is easy to make 0.01BTC, at the moment although the price has dropped a lot, I think it is still very good money, so it is considerable what can be appreciated in a few years.

As they always say, "the sky is the limit". If Bitcoin went from being worth nothing to thousands of dollars (USD) a few years after its launch, they it could easily reach prices far beyond $1m. Those who hold 0.01 BTC now, might get lucky in the future as mainstream adoption grows non-stop. Knowing that inflation is on the rise, $100m per Bitcoin will become a reality faster than you could've ever imagined. It's not a question "if" you'll become rich with 0.01 BTC, but rather "when". I'd advise anyone to accumulate more than just 0.01 BTC to become a multi-millionaire within the not-so-distant future.

Ultimately, what matters is not the price per coin but rather its usefulness. As long as Bitcoin brings financial inclusion to anyone, anywhere in the world, there should be nothing to worry about. Just my thoughts Grin

Henrobakkara

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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 so for now. This is still way too low to become rich over, yeah it will definitely get you some things you will need but this amount of 0.01BTC cannot get you rich even if one BTC were to at $1million and even in my country, that amount wouldn't get you a house in a middle-class area, so this is not the amount but maybe like 0.1BTC and with a $1mill per BTC Wink

BITCOIN4X

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Abiky, 0.01 bitcoin does not make us rich because it is only worth $410, but if you ask if 10 bitcoin can make us rich then I firmly believe that whoever owns it can be said to be a rich person. Actually I was wondering why you didn't ask about numbers greater than 0.01, do you have any other purpose than wanting to know how people call themselves rich when they have a certain amount of bitcoin?

Quote from: piebeyb on January 19, 2022, 10:56:54 AM

if we repeat 8 years ago maybe 0.01 BTC is very cheap but if we look at it today it is quite worth it but I'm sure if the price of BTC touched millions of dollars it would be more valuable, it's just that we never know bitcoin will touch its new ATH price above $100k or nothing, but to get rich at least you need to hold over 1 BTC

1 bitcoin is now worth $41K, it will cover some lifestyle needs like buying a car or just a luxury house which equates to $41K. Of course I have different assumptions about how I declare myself rich, but 1 bitcoin can't really change social status from poor to rich today because the value of the currency is much lower than the value of the goods.

piebeyb

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if we repeat 8 years ago maybe 0.01 BTC is very cheap but if we look at it today it is quite worth it but I'm sure if the price of BTC touched millions of dollars it would be more valuable, it's just that we never know bitcoin will touch its new ATH price above $100k or nothing, but to get rich at least you need to hold over 1 BTC

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