Will owning 0.01 BTC really make you rich? - page 8.

dataispower

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Quote from: diamond_shine1 on January 18, 2022, 06:36:43 PM

currently having 0.01 btc can not be called rich, maybe in the future having 0.01 btc can be called rich,
but for me now 0.01 btc is valuable because from 0.01 btc we can grow if we have a good trading strategy and maybe with this we can get rich.

I support your opinion, because it's only in future 0.01 will you make you reach person if have the amount of bitcoin, but people is concluding that 0.01 can some one to be rich person, i can agree but the problem is the country you are, some body exactly that countries we found ourselves into will determine the value of 0.01 if you are rich person or not, but no how and amount it will be if is allow to stay up to long

BuNga_cute

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Quote from: rozak on January 18, 2022, 11:26:11 PM

Quote from: btc78 on January 18, 2022, 10:13:08 PM

Am not sure if this can be but maybe once bitcoin reached10 million dollars then why not?
though in the current value clearly we cannot be called rich.

I wanted to earn atleast 1 whole bitcoin to be sure becoming rich when it reaches million dollar value .

with a current value of 0.01 BTC of course it would be difficult to expect to reach $10 million.
the only thing that makes sense I think is to buy a little every time we have some extra cash. such as periodic investments when we receive a salary and partly we buy BTC. we can keep it for a long time and we will see the results in the future.

Actually it depends on which country we live in and everyone's understanding of rich is different. So maybe there are people who feel rich
by having 0.01 BTC, but it's clear to me that getting rich has at least 1 BTC. Indeed, if I had to buy 1 BTC directly, I couldn't afford it,
because my income wasn't too big either. But to get 1 BTC, we can buy Bitcoin according to our respective financial capabilities on
a regular basis. As you explained, we separate a portion of our income each month to buy Bitcoins. So having 1 BTC can be achieved,
as long as we work hard and have a strong desire, there will always be a way to get what we want.

LuizX

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this is really the million dollar question
assuming that whoever bought 5 dollar of btc in 2011 knew that in less than 10 years he would be a millionaire do you think anyone would sell or exchange their BTC? because the future is uncertain, speculation, market, government, X variables....
0.01 BTC millionaire ? I believe not in the short term, but at least 1 BTC in your wallet is likely based on the market, the short and long term trend is very good.
But whoever has 1BTC is already rich... it depends compared to what and where....

lienfaye

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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.

Well, there's a possibility, if the price of Bitcoin continuously increase in the future. However it might take a long years since we're only talking of 0.01BTC here. If an investor really want to become rich by investing in BTC then he/she needs to buy more to hold for long period.

Anyway one thing im certain is, those investors who are patient enough and can hold his 0.01 BTC for long period can surely gain in time.

rozak

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Quote from: btc78 on January 18, 2022, 10:13:08 PM

Am not sure if this can be but maybe once bitcoin reached10 million dollars then why not?
though in the current value clearly we cannot be called rich.

I wanted to earn atleast 1 whole bitcoin to be sure becoming rich when it reaches million dollar value .

with a current value of 0.01 BTC of course it would be difficult to expect to reach $10 million.
the only thing that makes sense I think is to buy a little every time we have some extra cash. such as periodic investments when we receive a salary and partly we buy BTC. we can keep it for a long time and we will see the results in the future.

Lordshiva

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Quote from: btc78 on January 18, 2022, 10:13:08 PM

Am not sure if this can be but maybe once bitcoin reached10 million dollars then why not?
though in the current value clearly we cannot be called rich.

I wanted to earn atleast 1 whole bitcoin to be sure becoming rich when it reaches million dollar value .

0.01 btc is a bit less if you wanna get rich as 10 million dollar for bitcoin is not happening in few years. Even one day when it happen may be too late. 0.1 btc can you rich in coming years and that is my target.
Becuaee owning whole bitcoin is pretty difficult for me a this stage.

btc78

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Am not sure if this can be but maybe once bitcoin reached10 million dollars then why not?
though in the current value clearly we cannot be called rich.

I wanted to earn atleast 1 whole bitcoin to be sure becoming rich when it reaches million dollar value .

pushups44

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I think a one million dollar target is feasible within say the next 10-15 years. At that point, each satoshi will be worth a penny. So here's one way of looking at it:

How many dollars do you believe you will need? Let's say in 15 years, with inflation, $500,000 would be a bare minimum of savings (maybe it's a lot in some countries). If so, you will need 0.5 bitcoin.

But let's say you are diversifying, so that bitcoin is just one of many assets you own. In that case, if bitcoin is 20 percent of your portfolio, 0.1 should be your goal.

If you treat bitcoin in fractions, you will find it to be very accessible.

diamond_shine1

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currently having 0.01 btc can not be called rich, maybe in the future having 0.01 btc can be called rich,
but for me now 0.01 btc is valuable because from 0.01 btc we can grow if we have a good trading strategy and maybe with this we can get rich.

tabas

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Quote from: Vaskiy on January 18, 2022, 11:24:40 AM

To be wealthy or rich through 0.01BTC holding might happen after 10-20 years, but the chances in my view is very minimal.

I can say that in first-world countries even if you have 0.01BTC, that won't be enough if the price of bitcoin is estimated at $500k-$1M. It's still a small amount for them but coming from an investment, it's an important part of their portfolio that's still going to bring them profits.
If bitcoin goes by $5M in the next decade or so, that will mean $50k in valuation, and in the third world and developing countries, that would be quite hefty of money but due to inflation, still its buying power will become lesser.

Vaskiy

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Quote from: virasog on January 17, 2022, 01:53:25 PM

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.

The simple answer to this is Yes, you can be a rich person if you own only 0.01 BTC but you will not become wealthy anytime soon. It may take another 10 - 20 years and you will find yourself among the lucky person who owns 0.01 btc.

Many people who have 0.01 btc now, may not be having it after 10 years because usually people sell when the prices rise and wont wait so long. The best way is to save 0.01 in a separate wallet and never ever try to spent it.

In today's price 0.01BTC values around $410. Five years back 0.01BTC values just $8. So, in five years time $8 have turned to $410 and to the max $687. This is a massive difference between five years time. We don't know what will happen with next ten years. Beyond certain limit growth can't happen, because the market matures and the growth pattern varies. Think of the early days and the present. To be wealthy or rich through 0.01BTC holding might happen after 10-20 years, but the chances in my view is very minimal.

virasog

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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.

The simple answer to this is Yes, you can be a rich person if you own only 0.01 BTC but you will not become wealthy anytime soon. It may take another 10 - 20 years and you will find yourself among the lucky person who owns 0.01 btc.

Many people who have 0.01 btc now, may not be having it after 10 years because usually people sell when the prices rise and wont wait so long. The best way is to save 0.01 in a separate wallet and never ever try to spent it.

Newlifebtc

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Quote from: RapTarX on January 17, 2022, 12:30:10 PM

You will not be rich I guess. You will have more USD worth of crypto but one BTC = $100m will only be acheivable when US will releases TONs of money supply into the economy. Guess what? Inflation will eat your BTC. I don't think BTC will be such expensive anytime soon. $100m is quite high; 1000x from $100k. That's too far to guess even. I wouldn't expect anything more than $1m each BTC.

Any amount of money you have will make you rich if you follow the right way or you channel your money for better business that brings something good for you, now I'm noticing that the way some one mis regards small money when big money comes the same body will not values the money also, 50 usd is money, 1million USDT is also money

RapTarX

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You will not be rich I guess. You will have more USD worth of crypto but one BTC = $100m will only be acheivable when US will releases TONs of money supply into the economy. Guess what? Inflation will eat your BTC. I don't think BTC will be such expensive anytime soon. $100m is quite high; 1000x from $100k. That's too far to guess even. I wouldn't expect anything more than $1m each BTC.

topbitcoin

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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.

0.01 from $100.000 is $1000 is an average money that people mostly already have, and we can see it need years to reach that price because bitcoin price which is volatile and maybe still need very long time to be happen. Maybe 0.01 can't made us a billionaire or if we really want to wait for it can happen will cause us to earn more and maybe hold more than only 0.01BTC at that time.

LUCKMCFLY

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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.

ancafe

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well, in the crypto world, especially bitcoin, everything seems possible. if the bitcoin price reaches $1m, then, owning 0.01 bitcoins alone is equivalent to $10k. Yeah, that's a lot of money. however, at $10k, it's not yet rich. it will make you rich if you find another investment place that can turn $10k into millions of dollars. Well, we don't know what will happen in the future. however, preparing 0.01 bitcoin at this time is not a difficult thing. So, if many people believe that with 0.01 bitcoin can make them rich in the future, then they should hold at least 0.05 bitcoin to prepare for it. if the bitcoin price reaches more than $1m, then with 0.05 bitcoins, it might be rated as a rich person.

Hispo

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I don't believe 0,01BTC will make anyone rich any time soon, but that is not a reason to feel discouraged. Having a good asset like Bitcoin to earn some money in the long run it is not a bad idea.

On the other hand, the freedom itself that Bitcoin can bring (and has brought) to their users are more than enough of a reason to hold some as well.

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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.

The answer is almost certainly, "No."

Even if Bitcoin did hit $100,000,000 per coin (unlikely), the macro economic environment that would have caused it would make $1,000,000 barely enough to pay your bills for a year. Certainly it wouldn't be considered rich by any means.

I think if you want to feel rich, buy a dog. They'll follow you around begging for food. It's not that different from being wealthy.

Rengga Jati

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Actually, the definition of rich is probably difficult to decide.
For some people, 0.01BTC will mean nothing. but for others, this will mean many things and also consider that they are really rich with that only 0.01BTC.
So, the question is about our own self:
- Who are we
- How we will manage that 0.01BTC
- How we will use that 0.01BTC
- How long we will maintain or hold that 0.01BTC, this will decide the value in the future or right now.
For me personally, right now, 0.01BTC will not me rich, but it can help me to do something worthier again with that capital.

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