Bitcoin Forum

Thinking about to buy 60k xmr. What so you guys think, is it possible to become a millionaire in 2 years?

Yes it is possible.
The emission is pretty dry in 2017.
If everything goes as planned, it will the year when people start feeling the severity of Monero shortages around the globe.
People without Monero will appear as miserable as third world people without pure water.

If you can afford to lose your $30k, you can try it. It is possible. A Monero price of around $7-8 in two years is likely.

ROFL!
Plz do it man :)

but dont stop believing! its certainly gonna become real!
monero will take over the world and we'll all use it (lol) and u'll be millionaire (lol),
also remember munero is *not* some garbage junk by any means (lollerskates)

~CfA~

Remember: Don't invest more than you can afford to lose.

This is valid for Monero, BTC, Dash, Namecoin, etc.

That's true.
However, one cannot become rich unless one do not take any risk in life.
For some people 30 k is big money, for some people not so... If you are working in job that pays you nicely, then you most likely recover from 30 k loss faster than someone flipping burgers.

i would not do it

The most will not do it indeed.
However, bear in mind the most people are not millionaires in 2017.

I am not promising Monero will rise that much but certainly the chances are there.

I suggest a good research about technology and community support (this is a must in any invesment in any coin)

You can start here:

http://forum.getmonero.org


draw your own conclusions

The bigger question as others have alluded to, is this money you can afford to lose? Are you younger with plenty of earning potential or nearing retirement? Does this represent the majority of your investments or <10%? Every crypotocurrency investment would be classified as high risk with possible high reward.

That depends on the monero devs and community. If they can turn monero to something easy to use for everyone (mobile/light clients) and if they can put widely used real life services in the foreground then yes, it could go to "da moon", and you can be a millionaire :).

In my opinion you fail to understand the fact that Monero can be used also as a store of value.
You do not buy bread with gold coins, do you? Still gold is considered valuable.

Even if Monero will never reach mainstream adoption, it can reach the adoption of store of value.
When you need a loaf of bread, you just convert 0.000001 XMR to fiat and buy a loaf of bread, and when you close a real estate deal, you store the money into Moneros waiting to be used/invested somewhere else.
A coin like Monero is actually pretty ideal for store of value: it is anonymous so nobody knows your balances unless you choose to reveal it. The coin supply is low which make it scarce (like gold).

In 20+ years I see one Monero costing 1 000 000 usd - and it may even be a bargain at that time.
The current Monero holders do not bother to sell any of their coins since they have so much money that they do not care anything anymore.

Chances are you will lose most if not all of that money.

Gold is a store of value, because of gold is gold everywhere and traditionally considered valuable by everyone. I don't see how monero can achieve such an universal consensus. By acceptance BTC, LTC, and several other coins are way ahead of it, technologically it's inferior to NXT and most of the gen2 coins (OK, I know most or those G2 coins exist only on paper, or in early beta), if we look at the popularity I'd say there are a lot of coins what doing far better. Then why monero?

Your question is relevant.
The technical level of coin is not the major issue why some coin will be chosen.
More important features are issues such as no premine (every holder needs to invest money in getting coins).
The community needs to be large enough to bail out a person who wishes to sell bigger amount of coins without causing too much damage to the marketcap.
Therefore the network effect is the most important thing. You might have the shiniest tech and the most beautiful wallet but if nobody or only a few people are willing to hold the coins, it is relatively worthless.

Why Monero could replace or suplement gold bullion in the years to come:

1) Emission. Most of Moneros will be mined in early 2020's but there will be a small annual increase of coins. Sounds like gold, doesn't it.
2) Anonymity. Like gold bullion in your own vault is anonymous so is Monero.
3) Fungibility (https://en.wikipedia.org/wiki/Fungibility ). Moneros also do not carry the problems of being labelled to some coins perhaps stolen from an exchange XYZ.
4) Community. Monero seem to be relatively attracting coin. The community seem to grow and no doubt the best growth rate is still ahead once the coin is introduced to people outside BTCT. The world is ready for a crypto and Monero due to the emission curve and due to feature of easiness of pumping (even one bigger investor can literally drive Monero to the moon) in the future has pretty good chances to grow big.

can be, but the golden times for altcoins are over now .
2014 was a good year to make money (BTC)

Depends on whether the GUI wallet will be ready by then. I heard it will go to MOON when the GUI is released. Could be closer to 3 years though.

Worry less about price and focus on the privacy Monero can provide.

If 60,000 Monero is more than you can afford then I suggest you don't buy so many

You can achieve privacy and make transactions with a small amount of XMR

The interesting thing is that if monero goes up and oy uput in that much, we will call you genius.  Otherwise we will call you a fool.

The distance between insanity and genius is measured only by success.

And considering this https://bitcointalk.org/index.php?topic=753252.msg11919024#msg11919024 the timing would be pretty uncanny.

Cross-posting FYI (Monero and his forum, some facts about the work they are doing):

Unless you do not own Moneros, you will regret when it hits some serious price levels.

Please stay on topic; Where is your stuff? Development, testing, marketing, something?

You are telling me you have only your "we are superior" thread:

https://bitcointalk.org/index.php?topic=583449.0

And the speculation thread here:

https://bitcointalk.org/index.php?topic=753252.0

That's it? All the rest is fudding and spam?

My God.

 :D  :D   :D   :D   :D   :D

https://github.com/monero-project/bitmonero/commits/master

Please tell me you realise that the Monero spam was a spam attack on Monero, and not originating from Monero. You do understand that right?

Well, I don't think the obvious get-rich-quick mentality you're showing is at all helpful, but yes, it's *possible*. It's also possible that you'll lose all, or nearly all, of your money.

But let's do some back-of-the-napkin math.

In my opinion, a longrun rational stable equilibrium in the crypto-economy would have Monero as the #2 coin (since a protocol-level privacy-focused coin is one of the very few niches bitcoin will likely never address, and Monero is the best privacy coin). And let's say that the #2 coin will have at least an order of magnitude less total purchasing power than bitcoin.

We'll therefore define the 2yr success-case for Monero as being that it takes the #2 slot, and that the #2 slot is 1/20th Bitcoin's value. We'll further say that Bitcoin has the same market-cap as today (~$4B.....I think it's likely to be more in reality, but let's be a little "safe" with this analysis).

That gives Monero a 2yr success-case market-cap of $200M. There will be about 14,250,000 XMR outstanding at the time, yielding a $ price per XMR of around $14.

1 XMR = $0.53 today. So the success case is about a 2600% return.

Thus, if you think there's greater than a 1/26 = 3.8% chance of Monero becoming the #2 coin (and ignoring opportunity cost, personal risk profile, interest rates, etc), then it's rational to consider XMR undervalued today.


Obviously you should do your own analysis and figure out what values make sense to you. The above is just a rough framework that makes sense to me.


[Sidenote: this is reminding me of the initial calcs I did with bitcoin years ago. FWIW, in 2011 my lowest "success-case" estimate for bitcoin was $1500. Getting there... :) ]

Please don't insult my intelligence. I'm here since January 2014.  

People from Monero have been attacking Dash and spamming their coin since the beginning. Your toxic community is a disgrace for the alt and bitcoin world.

Tonight I am happy because I have proof that your coin is just a hype void  ;)

Even though the people who start the threads are trolls, many of the other posters who back up the op aren't and will go on to keep the thread bumped and will parrot the op.

Of course you could claim that trolls are purposefully attacking XMR, but that same logic path has been used 1000s of times, hell it was even used with the major paycoin/XPY scam.

when this happening i would be for 100% in.

But my question is, WHY this should happening?

Is there something special coming? Or are this only bagholder dreamings?

Ah fuck, a Dash owner. Should have known.

It's weird. I remember when Darkcoin was labelling Litecoin 'the most toxic community in the cryptospace'. And I remember thinking, why? What has Litecoin ever done to deserve that title? Charlie Lee is a good guy, LTC was fairly launched with no instamine, it changed the algorythm for the better, had a grassroots orientated ethic where everyone had to contribute to make it work, set against the backdrop of a genuinely hostile BTC crowd - what did Litecoin ever do to deserve that mantra from Darkcoin?

Why is it always seemingly the good projects, I wondered, that get attacked so.

And here we are again, Darkcoin aka Dash once again labelling the taxon 'toxic community' to another fairly launched project, also with a credible collective of good-intentioned developers, honest tech that works and is endorsed and contributed to by some of the most respectable people in the industry.

What is it I wonder about Dash that makes it so antagonistic of fairly launched grassroots projects?

Is it perhaps a kind of psychological denial that's projected outward in view of the hideous 50% instamine that props the entire enterprise up? Perhaps it's the embarrassing cult-like dictat that surrounds thy great leader, Evan Duffield, who is able to afford 'great achievements' for his pot-smoking subordinates.

Dash is quite possibly one of the worst projects I've ever encountered, and I'm not joking when I say that I've yet to meet a Dash owner who is not a brain-dead twat.

If that's toxic, then I apologise on your behalf. Because if calling out a project for being absolute bullshit (and yes, that does indeed include snake-oil) makes me a cunt, then let it be so.

Because I would much much rather be labelled toxic for speaking the truth, than suffer the taxon of being a part of the most ignorant, passive, suck-cocky, college-doofused plastic-politicked twatstain of a retard community that is Dash, that seemingly doesn't have the brains to understand cryptography, nor the balls to stand-up for what is right.

This is just not true, I am here from the beginning of Darkoin and Monero (citation needed)


That's exactly my point. You and your Monero people (icebreaker, adams, generalize, etc.) Are always insulting other people, I am being insulted all day by people of your toxic community in the Dash thread. Maybe that's the reason you have an empty forum, with no real community behind.

Can I ask you a question? How old are you, kid?

I believe some of it can be attributed to simply just being jelly of the alt-coin market leader's market cap, volume, and adoption. Something you surely should be able to easily relate to.

I'm mean to dashers because I keep winning the same arguments with them and a week later I have to repeat the process all over again--it's like groundhog day without the hot girl.

this dash/monero bitch fighting is really toxic to an otherwise promising investment in a niche that could potentially make a lot of money, if the right people become interested.

There could even be room for more than 1 anon coin to "succeed".

No one cares about "fairness" and "instamine". If they wanted fairness, they'd go communist.

No one cares about "shills" if the idea behind it is solid.

Stop all the useless ad hominem attacks and try to promote anon-coins in general so that as a whole, this niche has a better chance of succeeding. It might do you guys good to put 1 or 2 eggs in another basket as well, just in case.

For btc it might be not, btc looks like a very safe asset. Of course you need to be cautious there too, but look its better than sovereign bonds, so i`d go with btc as a long term safe haven.

"Here since Jan 2014"

Aww, that's cute.  Did Santa (or Hanukkah Harry) bring you a laptop?

Good points about LTC and DashHoles' thin-skinned inability to respond graciously to the same scrutiny and scam accusations all new coins experience.

The instamine/snakeoil/cargo cult criticisms obviously struck a nerve, and the DashHoles definitely display signs of a guilty conscience.

The only DashHole with a brain I've met is Bigrcanada, an amiable rube with good taste in wine but terrible taste in crypto.   :P

If Monero meets parity with bitcoin then you only need 3,333 to become a millionare.

Buy 5,000 XMR's and use the rest as a downpayment on a rental.  Take it from someone who's been where you are & made the wrong decision. 

I think the common advice can be tl;dr'd as such:

If You're Sure Monero's A Long-Term Big Winner:

1. Figure out how much money you can afford to see vanish: money that, if lost completely, will not affect your ordinary standard of living.
1a) "money you can afford to see vanish" means money you will never use for years. How much could you put in an impregnable safe with a five-year time-lock, such that your standard of living would be more-or-less the same for those five long years?
2. Once you've settled on your sum of "no-touch money", convert it to Bitcoin and buy Monero with it.
3. Withdraw the Monero into a cold-wallet solution of your choice: preferably, one that you can store in a Manila envelope. [Eg: paper wallet, wallet on a USB stick: you get the idea.]
4. Get the Manila envelope, write on it "DO NOT OPEN UNTIL AUGUST 1ST 2020." [Feel free to substitute a date of your choice for Aug 1st.]
5. Stick the cold-wallet in the envelope and seal it. Stuff the envelope in the hiding place of your choice: desk drawer, underneath your socks, whatever. Security's not a big worry because you're primarily hiding it from yourself. [#7 below explains why.]
6. Vow and resolve to follow the instructions you wrote on the envelope!!!
7. While you wait for the magic day to arrive, get involved in the development/innovation/ecosystem side of Monero community. Do not get involved in the speculation/trading side: those folks will just induce you to break your five-term vow. Why? because they'll prompt you to think common-sensically in a certain way: to break your five-year resolve to grab the "bird in the hand." If you're playing the long game, that kind of common sense is actually your foe. 

---

This way: if you're right about Monero, you'll have a very big payday in 2020. If you're not, your standard of living will be more-or-less unaffected. Right? ;)

A true visionaire, this TrueCryptonaire. Albeit the last sentence sounds a bit harsh I couldn't have expressed it any better myself.

60k XMR? well, my opinion this is the best time for buying alt coins, because we can see the price of alt coins going down since the value of btc rising. XMR price was hit 0.004 btc a couple months ago, and i think the price will going up again in the future. goodluck

I dont think this thread is serious but if it is, then dont buy so much. 10k is plenty, keep holding even if it keeps tanking. If there is some sanity left in the world Monero will gain more marketcap

You're about 1/3 of the way. Keep hodling.

You already made a ton of money man. I would be scared to hold any longer. All altcoins are is just pumps and dumps, everyone just wants more BTC at the end of the day, so its not only when you buy, but when you sell it. If you hold too long you may become delusional with the potential gains and become a bagholder.

Right now I would sell XMR or at least a good part of it, unless I bought at the bottom and could afford risking it.

He could if he bought.

People said that about $1 bitcoin, $10 bitcoin, $100 bitcoin. I sleep comfortably at night holding Monero knowing that it's solid technology that can't easily be introduced into Bitcoin in the near future. It could be $100/XMR and I'd still hold, albeit with selling on the way up too.

yeah but the more the price is high the more is harder for it to get higher, this is known, now you need greater adoption for bitcoin or altcoin, to move to the next value

OP would have made about $285,000 profit (calculations were made @ $5.30/XMR). But enough bumping old threads and you (the Monero lovers) could just create a new one. :)

No doubt, no doubt. $5 monero seems high, the technology is solid and it does a better job at creating fungible value for grey/black market transactions than Bitcoin does. I would say that given that the Monero economy is extremely nascent, there's room for plenty more adoption.

I know, but I couldn't resist going down memory lane.

Staking reputed cryptocurrency can always gives good ROI. And XMR Monero is one of the best altcoins ever.

XMR is based on Cryptonote and anyone can easily mine it with GPU.

I will suggest to go for mining rather than buying for staking.

Like:  6k Moneroj. Will I be a millionaire by 2018?

Well you are almost a millionare right now, and it's still 2016... If you did buy it...

Good move, and the GUI is not even out yet.  I'm researching coins with confidential transactions now.

$788.400 right now.

Dude, wake the hell up.  This is a pump and dump bubble....

This was posted in 2015. Monero is currently @ $13.42

60K Moneroj are currently worth $805,200. So OP is well on his way to become a millionaire. If he kept them.

man, there's some impressive predictions on here. some are downright eerie. I guess sometimes this section ain't full of shit all the time.

Real privacy technology meets real privacy need = actual usage. That sets Monero apart from 99.9% of the other crypocurrencies.

No one will tell you this now. As no one knew that BTC in 2011 will be worth more than $1000 price of crypto is not easy to predict.
Monero has potential to be worth more if you are willing to risk then go for it. If you won't - you will miss this opportunity.

Best analysis today, but comparing with their price in 2015 just $0.53 and in sept 2016 $12 and what about the OP is already become a millionaire in this time.  8)

Yep , if you win the Powerball.  ;)

http://www.powerball.com/powerball/winners/2016/MN_Lange070716.jpg

 8)

Bumping this, If the guy did this and followed Melbustus' advice, he's a millionaire.

Would be nice to hear anything from him now - i hope he had done this  ;D

It would be risky since we are talking big money here on purchasing 60k monero,theres only two results on this matter either you smile with millions on your hands or lose it all the money you invest but seeing on moneros potential theres a possibility but dont expect too much that this thing would happen in next 2 years.

You should have check the date when the OP started this thread. Price of monero during that time was around 0.5 dollar, if he was able to buy 60k monero and sold them today he's probably a millionaire in less than 2 years.

Good call.

talk is cheap. actually making good on it is hard. it's easy for it to look like an obvious move in retrospect.

Your post made me want to buy more monero,I believe monero has a bright future even better than ethereum,I wish I could buy more but I cannot just let go of some promising altcoins here but like OP I will try to stock more.

Funny is that he was almost accurate. He become a millionaire on 12 March 2017 when Moreno break $16.7 .  So only 4 months before 2 years deadline ended.

Now what I wonder how long will this take:


Will it be on schedule?

no! monero is just pum and dump so expect huge dump  ;D

Will buy some monero if it keeps going down. Lower than 0.015 is probably a good entry point, since the price exploded the overall trend is an uptrend if you draw a line on the resistances... maybe a good long term coin if you can buy in cheap, it doesnt seem to suffer from the big drama of bitcoin and litecoin or at least thus far..

If you believe in the tech, the devs and community and your time horizon is long enough then any price is cheap. I hope to hold & use a significant amount of XMR in 10 years.

i would wait until ether price drops below 10 dollars then i would in invest

This guy have now already over $3 millions and we are not even half in 2017. :)

^ You'd be better off buying whatever XMR you can afford every week/month and just averaging your cost. XMR could be back to $10 in a month or it could be at $150. Timing the market is usually a losing game.

the time for second guessing things is over for now. it's all so crazy that anyone trying it is gonna get burnt in either direction.

I have lots of xmr right now and im waiting for the price to become more expensive maybe yes this is the only way to make a good profit with bitcoin once i sold all my xmr hope that this altcoin will never dissapointed me waiting for miracle to happens.

You absolute legend :o Wow this guy would have over 3 million dollars now!!!  :o :o :o

Hey! Im thinking about investing in DBTC! What you guys think? Could i be a millionaire in 2018, how much would I need to buy?

It's one thing to buy this much.

It's another thing to hold on to all(!) coins this long and resist selling.
I think almost nobody does that (except you have balls of steel or don't give a fuck because you're already rich).

I really hope that he bought that XMR :) At least now he should be happy about his decision 2 years ago!

Maybe he was the one triggering the panicselloff some 30 minutes ago :D

3'000'000 dollars now

$6 millions now and we are still in 2017. Wonder what will happen in 2018 when people will start realizing how much anonymity actually matter.

OP is a legend

This guy is a millionaire only if he has bought in two years and has never looked at the portfolio.
If he checked it from time to time, then I think he had already sold half of his coins during the big 2016 pump.
It would be nice to hear him again.

Hope he's good and living happy life now  :D

I hope you bought and hold that 60k xmr :)

LOL!!!  Wow I'm so jealous of you right now.  Ok I'm gonna start my own thread one day.  But this time about Aeon!  ;D

Give me time to accumulate some to a decent amount. 

It depends on the developers really. In how they can improve their coins interms of transactions etc. which can be a vital thing in attracting a huge number of consumers. I can say it can be a good investment and a good storage. But the thing is, other coins are also good and can do this too. While others have the same pros, others are more known to people and have better experiences in terms of solving issues. And i think that is something needed to be considered when you really need to invest.

Do you realise that if he inevsted his $60K at the price he is talking about that he would make $3 million dollars min Guaranteed right? Would you like to put a wager on it?
I'd bet you say $500 that if heis able to buy the exact amount of coins he wanted to at $60k then he would make a 3 million dollar profit?

I believe in this coin that I'd be willing to bet that $500 if you are?

Why not, it may be leading anonymous coin, second after BTC. Then it may be even 1:1, few years ago if you would say smth like that about bitcoin people would not believe in it.
XMR for now is best known, mentioned by many people in articles, people are starting to talk about it and realising about anonymity in cryptocurrencies. I think it will jump much more than $500

Yes.  Works for me.

Didn't he mean 60k Monero coin? In that case, he would have almost 10mln $ today...

Moneroj is plural in Esperanto since Monero means money in Esperanto.

Yes you could have been if you purchased it at $40 the current price is almost 4 times than the current price with 60k xmr you  could have got $9 million by now the only problem with most traders is they keep waiting for the price to fall a bit more and finally miss the opportunity to buy it at the price. If you are planning for long term just bymuy it don't wait unless the price is too high.

Did you become a millionaire?

So 2017 is slowly coming to an end and Mr.blacky90 holds now $18.720.000 with his 60k Moneroj, what costed him back then only $30.000.

Wow, that's one of the greatest investment decisions here. I didn't remember this thread at first, but then I realized I also had Monero in 2015. Fuck me, I sold for very little profit. I should've forgot my wallet and revive now. It's not about luck man, it's a vision. You saw the future.

I doubt he bought any ... the only recent posts were in IOTA as i saw with a quick lurk.

Dude you were so wrong.. LOL on you now

Clearly he didnt buy 60k xmr , or that could be a small amounT.
And if he did buy it , he surely sold it all last year or early 2017.
Hes not Roger ver  :D , how can people hodl that long?

Because one doesn't need to cash out and CC is a hedge for them to fiat ?

gotta love the bumps like that.
And this thread is somewhat a lesson for long-term investing and a reason why i'm buying some small coins and trying to forget about it. And then in few years i'll wake up a millioner ;D

thats why i bought sumokoin, so i could be milionaire like this guy  ;D

Because hopping from shitcoin to shitcoin is a waste of time and money. AFAIK Monero is the only (digital) cash.

He would've been quite rich if he bought. I guess the lesson to be learned is that for good projects, it's best to just hold it out and wait.

There are people holding way longer then from 2015. But sadly Monero price in 2014 was higher then in 2015 and you could got 5-10 times less coins then this guy here fro $30k.  




You have better chances with Monero. Monero emission is drasticlly decreasing while Sumocoin emission is drastically increasing. Only 2 millions out of 88 millions coins was mined so far.

If you look at my previous answer. Sumocoin is still in Monero 2014 and price will go down like it did with Monero in 2015.  But sumocoin might be cheapest only after 2020 if it will survive till then.