Will owning 0.01 BTC really make you rich? - page 9.

Abiky

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Quote from: goldkingcoiner on January 12, 2022, 02:21:38 PM

You could have asked that very same question about 100 BTC just a few years ago when it was barely worth anything. People would have scoffed and laughed at you for even bringing up such a preposterous idea. But nobody would have thought we would see a price of over 60000 USD on the price chart. I think people still underestimate Bitcoin. I think 0.1BTC can definitely make you rich in the future.

Exactly. No one ever thought Bitcoin was going to become an extremely valuable cryptocurrency in the future. It's now the day where Bitcoin is hovering above $40k, due to its deflationary design. 0.01 BTC may be worth around $420 at today's exchange rates, but it could be worth $1m in the future if Bitcoin continues to reach new All-time-highs. With 90% of all Bitcoin mined, it seems to me that we may not be that far from seeing "hodlers" of 0.01 BTC becoming rich in an instant.

Ultimately, Bitcoin is all about utility (not untold riches). As long as Bitcoin is useful as a decentralized cryptocurrency no one can take down, nothing else matters. Just my thoughts Grin

PreciousH

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Owning 0.01 BTC which is approximately around 500 dollar, one can secure a 13 percent position in the world and makes you rich. By comparing the fiat and bitcoin markets the top 13 percent is as exclusive as fiat millionaire.

Renampun

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Quote from: haasanjui on January 12, 2022, 01:36:58 PM

0.01 BTC worth is 434$ which can't make anyone rich because it Little amount.

currently those who are in crypto are only about 3% of the entire human population in the world...

bitcoin price hit $50k with only 3% of people in the world what else if those in crypto increase to 100% of the world's population then we will see bitcoin price explode high. bitcoin price will continue to potentially cross $500k.

Luqman

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Quote from: haasanjui on January 12, 2022, 01:36:58 PM

0.01 BTC worth is 434$ which can't make anyone rich because it Little amount.

0.01 BTC cannot result in a big amount of money now, but who knows it can make you rich if you are holding it for 10 years. BTC price can increase very significantly if you are holding it for some years. Just take a look at how much BTC price in the first BTC halving, it was only around $12 (early halving). Now, BTC price has reached its ATH above $60k after the latest halving (in 2020).

Please read: https://stormgain.com/blog/bitcoin-halving-dates-history

Hioth666

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Quote from: davis196 on January 10, 2022, 07:30:24 AM

Owning 0.01 BTC won't make you rich,because:
1.The Bitcoin price will never hit 100 million,10 million or even 1 million USD.
2.Bitcoin wasn't supposed to be a "golden ticket" to wealth.Satoshi didn't create Bitcoin for this purpose.

I'm wondering why are you asking this question.
Do you think that being rich is the main purpose of life?Do you think that your life will have a meaning,after you hit a certain level of wealth,when you could afford luxurious things?I don't think so...
What is your definition of being rich?Having a bunch of high value assets and doing nothing all day long?
A person with a meaningful life is more wealthy than a millionaire/billionaire with a meaningless life.

goldkingcoiner

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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.

You could have asked that very same question about 100 BTC just a few years ago when it was barely worth anything. People would have scoffed and laughed at you for even bringing up such a preposterous idea. But nobody would have thought we would see a price of over 60000 USD on the price chart. I think people still underestimate Bitcoin. I think 0.1BTC can definitely make you rich in the future.

haasanjui

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0.01 BTC worth is 434$ which can't make anyone rich because it Little amount.

Zanab247

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It will not make you rich because the price of bitcoin has dropped since last year 2021. 0.01BTC cannot help you to live well like the way rich men are enjoying their life with huge amount of money in their wallet. Many crypto investors have more than 200 BTC in their account but they are not counting their selves among the rich men in the community.
Owning 0.01BTC will take time for the person to become rich because the amount is like $400k and it will take a long time for the money to improve. Investing $400k with bitcoin, since the price has dropped to $40k and in less than 2 years the person can become rich when the price hit $80k.

AakZaki

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0.01BTC or less can make someone richer, depending on how they manage it. if it is used as trading capital and continues to profit, it will certainly reach 1BTC. all depends on how to do management with any capital. people with a BTC amount of more than 0.01 may just be poorer, because they can't manage it. in crypto anything can happen in an instant.

Sirait

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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.

5 years ago if we thought Bitcoin would go to $100k then many people would mock and say we are crazy, but now I believe Bitcoin to $1 million is not a crazy prediction anymore. With the number of Bitcoins circulating only 21 million coins worldwide, it is possible that in the next few decades the price of Bitcoin will exceed $1 million per BTC.

Rufsilf

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0.01 BTC or $400 is definitely not that much and certainly ain't going to make you rich now as for every bitcoin is valued $41.9k as of today.
And even if you live in some underdeveloped nations or some parts in Asia, that 0.01 BTC won't be enough for you to live and eat for atleast a month. So, for now it won't make you live like a king, perhaps it could make you one if the value starts to plunge at $1M or more.
But in other perspective, that value will be enough to start a small business and could eventually make you rich if you can manage it well.

davis196

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Owning 0.01 BTC won't make you rich,because:
1.The Bitcoin price will never hit 100 million,10 million or even 1 million USD.
2.Bitcoin wasn't supposed to be a "golden ticket" to wealth.Satoshi didn't create Bitcoin for this purpose.

I'm wondering why are you asking this question.
Do you think that being rich is the main purpose of life?Do you think that your life will have a meaning,after you hit a certain level of wealth,when you could afford luxurious things?I don't think so...
What is your definition of being rich?Having a bunch of high value assets and doing nothing all day long?
A person with a meaningful life is more wealthy than a millionaire/billionaire with a meaningless life.

Rigon

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0.01 BTC is an amount according to current prices. This 0.01 BTC can give you good profit after 10 to 20 years.You have to wait long enough for this. But if you hold 1 BTC then you are expected to get it in one to two years.

Abiky

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Quote from: uneng on January 08, 2022, 05:03:05 PM

In my opinion it's a very exaggerated prediction which doesn't make sense at all even on the most optimistic scenarios. Just imagine the volume of money invested in crypto market needed to push every bitcoin to 100M$ dollars. For this hypothetical situation to happen, I suppose fiat system must completely crashes and be nuked before... Only the total loss of trust in traditional financial system and its alternatives could justify such impact over bitcoin price.

Inflation will lead us there faster than you could ever imagine. The more money governments print, the higher Bitcoin's price relative to Fiat will be. You will essentially become a "millionaire", but not rich. After all, people's perception about the wealthy will change after inflation. This means that being a millionaire in the future will be no different than being a "thousandnaire" today. Instead of "hodling" 0.01 BTC just to sell at a higher price in the future, one should accumulate more Bitcoin to achieve financial independence. It's all a matter of increasing your purchasing power in order to be able to buy as many things as you can in the mainstream world.

With how fast the US Dollar (and other national currencies are declining), we might be able to see one Bitcoin valued at $100m. Only then, people with 0.01 BTC will become millionaires. Ultimately, it's all about "hyperbitcoinization". If all (or most) countries worldwide adopt Bitcoin as legal tender, then things will be valued in terms of satoshis, effectively making you rich. As long as Bitcoin survives for generations, nothing else matters. Just my thoughts Grin

bitterguy28

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Quote from: mich on January 08, 2022, 08:01:19 AM

Well since .01 btc is only 1 percent of a full bitcoin I don't think you will be rich in the future just hodling that small amount of coin.
NO better time to stack your bitcoins then during this Bear market.

Yep , having more bitcoin is much better than keeping that 0.01btc. I Myself tries to invest and keep more bitcoin little by little that will stand as holding for more years, i even separate my permanent holding than my normal Holding(Long Term actually) and i will keep adding as long as i am capable of taking or accumulating bitcoin (and of course couple of altcoin as well)
maybe in 5-10 years , my permanent holding will valued x10 or more lets see what happens then .

peter0425

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Quote from: Aossl on January 08, 2022, 06:37:14 PM

I don't think there will be a definite answer to this question. What is the future BTC price? Although BTC has grown significantly in the last year, there is no guarantee that the same will happen in the future. It only makes you rich if you can sell your BTC at a great price and fit the huge sums of money in that category.

This is answerable by NO , 0.01 BTC? do you really believe that Bitcoin will have a value of 10 million or hundred million dollars in the future? because that is all what we need for this to make us rich.

but if bitcoin will make a value of 1 million dollar this 0.01 bitcoin would be 10,000$ amount that still lower to our living condition.

Yamifoud

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Quote from: Aossl on January 08, 2022, 06:37:14 PM

I don't think there will be a definite answer to this question. What is the future BTC price? Although BTC has grown significantly in the last year, there is no guarantee that the same will happen in the future. It only makes you rich if you can sell your BTC at a great price and fit the huge sums of money in that category.

Maybe you are right but have we thought before that Bitcoin will become what it reached today, we don't...the same thing what you do now. Maybe I was more optimistic, yeah, I will still predict that Bitcoin will seize more demand than today, and the value increases. And I think the majority in here are still bullish too but to think about what OP had asked, that answer NO.
0.01BTC won't make us rich, not eventually. I can imagine owning more of it and maybe I become rich but this amount is too small to give us millions.

Drnice

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Quote from: glendall on January 06, 2022, 09:55:42 AM

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

I agree with you, no matter how much a man or we humans have, it is never enough.
When BTC was at the price of $10, people who had it when it was at $5 were happy that they made profits, compared to when it became $60+, you'll see that there was a very big difference. Time is majorly everything, and if 0.01btc will get to the point of making one rich, then we will have to patiently wait for it, which could be 10 to 20 years away from now, and at that time, who knows how the cost of transaction fee will look like. Instead of waiting for that time, let's just watch the market and make the profits we can now, buy low sell high and keep moving, cause anything is possible sideways.

Aossl

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I don't think there will be a definite answer to this question. What is the future BTC price? Although BTC has grown significantly in the last year, there is no guarantee that the same will happen in the future. It only makes you rich if you can sell your BTC at a great price and fit the huge sums of money in that category.

Luqman

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

Is it really possible to become rich with 0.01 BTC in the future? If not, why?

This question will have no exact answer. Who knows what the BTC price in the future? Although BTC was increasing significantly in the last year, doesn't guarantee to have the same scenario in the future. Having 0.01 BTC won't result in anything if you cannot trade it properly. It only makes you rich if you can sell your BTC when it is at a high rate and meets the category as a huge amount of money.

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