Topic: Your definition of being Bitcoin Rich or wealthy? - page 3. (Read 2692 times)
Bitcoin Rich is when you look at the first page of the Rich list and one or more addresses of yours are there...
To own 100 btc is rich for me, last year I had highest 150btc and it was worth over 60k USD, but I was scammed by a shit scammer, former vootcoin dev - mscollec, he/she screwed us, I hate altcoins now, they are scams. 
If i didn't buy his/her scamcoins, I would have 100-500 btc, that's rich enough for me.
If i didn't buy his/her scamcoins, I would have 100-500 btc, that's rich enough for me.
For me being rich is having enough money to last the rest of my life without working plus having no debt with my home paid off and self sustaining utilities. Then having enough money in an investment that gives me an income of a few thousand dollars a month to live on.
Once I hit that point I will retire.
Once I hit that point I will retire.
why are people like Bill Gates, Elon Musk etc still working then
?Well they still have enough money to stop working, some just choose to keep going. For some it's not just about the mopney but success or making a difference.
For me being rich is having enough money to last the rest of my life without working plus having no debt with my home paid off and self sustaining utilities. Then having enough money in an investment that gives me an income of a few thousand dollars a month to live on.
Once I hit that point I will retire.
Once I hit that point I will retire.
why are people like Bill Gates, Elon Musk etc still working then
?The key is having the option.
Then you're just doing something you enjoy, not working.
My idea of retirement is running my own business on my terms.
Bitcoin rich in my mind would be 250+BTC, that seems like a large amount and something that is "wealthy" in my eyes. 100+ is still very good but 30 grand isn't a TON of bitcoin.
For me being rich is having enough money to last the rest of my life without working plus having no debt with my home paid off and self sustaining utilities. Then having enough money in an investment that gives me an income of a few thousand dollars a month to live on.
Once I hit that point I will retire.
Once I hit that point I will retire.
why are people like Bill Gates, Elon Musk etc still working then
?
For me being rich is having enough money to last the rest of my life without working plus having no debt with my home paid off and self sustaining utilities. Then having enough money in an investment that gives me an income of a few thousand dollars a month to live on.
Once I hit that point I will retire.
Once I hit that point I will retire.
the number of bitcoin you have don't make you rich or poor but the amount you can save up and the equivalent in fiat. because it doesn't matter if you can earn for example 100BTC a month when you should spend more than $30,000 a month on your living expenses. but if you can earn 100BTC in addition to what you spend then you can be considered sort of rich.
I don't think there is any strict definition of what is wealthy or not but one thing I know is monetary 'wealth' isn't everything. You an also always lose the money you have quicker than it took you to earn in. Personally wealthy would being financially comfortable without any struggle but even that can soon go if you lose your job or make a bad investment choice or something.
What makes one rich or wealthy is what amount of money/coins they can store.
So it doesn't really matter if you get 1BTC or 1000BTC
It's about how much of that can you actually store.
One person could be getting 500BTC per month yet have expenses/bills/etc that are worth +500BTC
Then again another person could be getting 10BTC and have no expenses what-so-ever.
Who do you think is rich from the two of them?
So it doesn't really matter if you get 1BTC or 1000BTC
It's about how much of that can you actually store.
One person could be getting 500BTC per month yet have expenses/bills/etc that are worth +500BTC
Then again another person could be getting 10BTC and have no expenses what-so-ever.
Who do you think is rich from the two of them?
Well, I think wealthy would mean being have to spend a lot, while getting even more.
But then again, not really since one of the richest men alive (Warren Buffet) lives a pretty lifestyle.
Therefore, maybe the number of 0's in your bank account (or bitcoin wallet) is all that matters.
I have a very simple definition of being bitcoin rich or wealthy. Someone it will be considered rich or wealthy in bitcoin only if he can have FOR SURE every month at least 50 bitcoin as earnings. This money are enough to have a good life, without excesses. The richness and wealth have no end. So I know that not everybody with agree this my definition. But me myself will be very happy and I will consider myself wealthy if I would have that amount FOR SURE mine every month.
To be very honest: more if the value decrease (same amount as today value in euro) but not few if the value increase.
To be very honest: more if the value decrease (same amount as today value in euro) but not few if the value increase.
It is no use putting an arbritrary number on this.. For one country this might make you wealthy, but in another you may just get by the month.. Really depends on the situation.
What makes one rich or wealthy is what amount of money/coins they can store.
So it doesn't really matter if you get 1BTC or 1000BTC
It's about how much of that can you actually store.
One person could be getting 500BTC per month yet have expenses/bills/etc that are worth +500BTC
Then again another person could be getting 10BTC and have no expenses what-so-ever.
Who do you think is rich from the two of them?
So it doesn't really matter if you get 1BTC or 1000BTC
It's about how much of that can you actually store.
One person could be getting 500BTC per month yet have expenses/bills/etc that are worth +500BTC
Then again another person could be getting 10BTC and have no expenses what-so-ever.
Who do you think is rich from the two of them?
A single address with a lot of coins, could be a family trust or a charity fund or a business. {Let's not judge addresses}
If you, for the sake of this argument receive say 10 Bitcoins a month, would you consider that person as being wealthy? I am trying to figure out, what benchmark people set in their mind, to determine what they perceive as being wealthy. We throw around words like when we look at fat addresses, but we do not consider other factors, like debt. < The more you make, the more you think it takes to be rich. >
Let's say a hacker needs to decide between hacking 2 different accounts on Coinbase. What account would he go for? The account with the 7000 small transfers from faucets or the one with the single transfer for the same amount? I say this, but I doubt if they really consider that or if they just grab whatever they can hack.
If you, for the sake of this argument receive say 10 Bitcoins a month, would you consider that person as being wealthy? I am trying to figure out, what benchmark people set in their mind, to determine what they perceive as being wealthy. We throw around words like
Let's say a hacker needs to decide between hacking 2 different accounts on Coinbase. What account would he go for? The account with the 7000 small transfers from faucets or the one with the single transfer for the same amount? I say this, but I doubt if they really consider that or if they just grab whatever they can hack.
There are so many opinions on people saying, someone is wealthy or rich.
http://dictionary.reference.com/browse/rich
or
http://www.nytimes.com/2014/06/17/upshot/definition-of-rich-changes-with-income.html?_r=0
Many people consider being rich, as the positive balance in their bank account or the house bond that are paid off.
In many instances, people regard a high income above a certain income bracket, as the indicator of wealth. I know for a fact, most of those people with the high income, has just as much debt, or even more than the people earning less than them.
Do we consider someone being Bitcoin wealthy, when he reach a certain bitcoin count? Say 1000 coins?
Do we know how much other debt these people have, or if they own any other assets?
In your opinion, when do you consider someone as being wealthy or Rich?
People judge other based on the car they drive or the house they live in, but most of these are backed by huge debt. If you subtract the debt owned by these people, compared to the assets they own, they are acctually poor.
Let's not judge people, based on the size of their Bitcoin balance.
http://dictionary.reference.com/browse/rich
or
http://www.nytimes.com/2014/06/17/upshot/definition-of-rich-changes-with-income.html?_r=0
Many people consider being rich, as the positive balance in their bank account or the house bond that are paid off.
In many instances, people regard a high income above a certain income bracket, as the indicator of wealth. I know for a fact, most of those people with the high income, has just as much debt, or even more than the people earning less than them.
Do we consider someone being Bitcoin wealthy, when he reach a certain bitcoin count? Say 1000 coins?
Do we know how much other debt these people have, or if they own any other assets?
In your opinion, when do you consider someone as being wealthy or Rich?
People judge other based on the car they drive or the house they live in, but most of these are backed by huge debt. If you subtract the debt owned by these people, compared to the assets they own, they are acctually poor.
Let's not judge people, based on the size of their Bitcoin balance.
Someone with 1000 coins is considered wealthy, specially if those coins are hold through time, but chances are, most people will sell all of their Bitcoins before 1 Bitcoin reaches a ridiculous amount, by then, people holding only 1 Bitcoin will be wealthy through natural wealth distribution over time + increased demand.
I have a very simple definition of being bitcoin rich or wealthy. Someone it will be considered rich or wealthy in bitcoin only if he can have FOR SURE every month at least 50 bitcoin as earnings. This money are enough to have a good life, without excesses. The richness and wealth have no end. So I know that not everybody with agree this my definition. But me myself will be very happy and I will consider myself wealthy if I would have that amount FOR SURE mine every month.
To be very honest: more if the value decrease (same amount as today value in euro) but not few if the value increase.
To be very honest: more if the value decrease (same amount as today value in euro) but not few if the value increase.
there is no real correlation between being rich and having tons of bitcoin that now, would make you rich but that previously weren't worth so much
if your income is much greater than your expenditures(with a minimum of 1k salary), say x2-x5-x10, it is evident that you're very wealthy
if your income is much greater than your expenditures(with a minimum of 1k salary), say x2-x5-x10, it is evident that you're very wealthy
There are so many opinions on people saying, someone is wealthy or rich.
http://dictionary.reference.com/browse/rich
or
http://www.nytimes.com/2014/06/17/upshot/definition-of-rich-changes-with-income.html?_r=0
Many people consider being rich, as the positive balance in their bank account or the house bond that are paid off.
In many instances, people regard a high income above a certain income bracket, as the indicator of wealth. I know for a fact, most of those people with the high income, has just as much debt, or even more than the people earning less than them.
Do we consider someone being Bitcoin wealthy, when he reach a certain bitcoin count? Say 1000 coins?
Do we know how much other debt these people have, or if they own any other assets?
In your opinion, when do you consider someone as being wealthy or Rich?
People judge other based on the car they drive or the house they live in, but most of these are backed by huge debt. If you subtract the debt owned by these people, compared to the assets they own, they are acctually poor.
Let's not judge people, based on the size of their Bitcoin balance.
http://dictionary.reference.com/browse/rich
or
http://www.nytimes.com/2014/06/17/upshot/definition-of-rich-changes-with-income.html?_r=0
Many people consider being rich, as the positive balance in their bank account or the house bond that are paid off.
In many instances, people regard a high income above a certain income bracket, as the indicator of wealth. I know for a fact, most of those people with the high income, has just as much debt, or even more than the people earning less than them.
Do we consider someone being Bitcoin wealthy, when he reach a certain bitcoin count? Say 1000 coins?
Do we know how much other debt these people have, or if they own any other assets?
In your opinion, when do you consider someone as being wealthy or Rich?
People judge other based on the car they drive or the house they live in, but most of these are backed by huge debt. If you subtract the debt owned by these people, compared to the assets they own, they are acctually poor.
Let's not judge people, based on the size of their Bitcoin balance.
Jump to: