Bitcoin Forum

As the title says, just interested, are there people on the forums who became millionaires due to BTC alone?

yes

Well, some cases aren't exciting. Someone could spend $950k on BTC and then go brag that they're a BTC millionaire. There is ≤ one true BTC millionaire, though.

Not yet, but one day I hope to be.

Most active accounts that have been around and active since 2010 and 2011 probably have made a million or two from Bitcoin.

Start looking here: https://bitcointalk.org/index.php?action=mlist;sort=registered;start=0

Yup

For the super rich, BTC is nothing more than a hedge, though. Waste of time to be a BTC whale. Not enough liquidity. BTC whaling is for low level rich ppl.

well i know that there was someone with 200k bitcoin here on the forum, that got arrested(police entered his house i remember, there was a photo with his family), some years ago

I think there is someone in this forum who are already rich because of BTC
BTC price is different in a few years ago, if they keep it and sell it now it would be a rich man  8)

ppl tend to be jealous of others' success. But it is still the time to buy a few bitcoin in its early stage, and have the chance to become millionaire one day!

I doubt it that the early adopters that became millionaires are still lurking around on this forum and rather having the time of their lives partying.

seems not to hard to become a millionaire with this roller-coaster  :)

Upon becoming rich, there is probably some psychological wall that pops up which causes them to tend toward lurking rather than communicating, and that psychology is probably further increased if they start splashing around in private whale pools.

It happened and doesn't happen twice, for those who bought Bitcoin early in 2010 ~2012, they must now be millionaires? Who turned them millionaires? us, we came later and bought their cheap Bitcoin with a much higher price. I don't think Bitcoin would rise for another thousand time in the next and turn us millionaires, and that is why I say it doesn't happen twice.

Having never studied psychology, and probably having a very low EQ, I disagree.

I think that people don't really change because of money. The people who are down to Earth and don't show off wouldn't do so whether they have $1 or $10,000,000, whereas people who always have a need to be better than others will always try to push their successes, no matter how small, in other people's faces. Some people love to be in the spotlight, some people want to avoid it.

This is your personal tendency, it doesn't change because you suddenly have a lot of money. In fact, having money allows people who couldn't be in the spotlight before, who couldn't show off before to do so. It'd be harder to hold it in if you really were successful.

Besides, just because you have lots of money doesn't make you intelligent/high class or whatever. You really have to prove your worth in order for other successful people to accept you. They won't do so simply because you basically won the lottery.

hoarding just 623 bitcoin makes you have the equivalent of 1 million chinese yuan

hoarding just 39 bitcoins makes you have the equivelent of 1 million american cents

hoarding just 3900 bitcoins makes you have the equivelent of 1 million american dollars

.. so being a bitcoin millionaire based on a fiat conversion is VERY VERY easy.

there are a few people that have had 1 million actual bitcoins pass their hands.

and only a couple that presumably have upto a million coins hoarded (though i personally think satoshi only mined half a million coins)

Perhaps you're right. Even I have long thought that money makes you more of what you already are. It's the "more greedy" part which sucks though.

Yes there was a few very early adopters who became instant millionaires I think there is a documented list some where of a few of them.

I would like to see this list if anyone can get it, Yes op there must be many who became millionaires just think how many they needed for that on a safe side if they held 10,000 which at one point was not a lot take a look at the pizza thread lol Then they only needed to keep back a couple of thousand for when the bubble came months later and that was the millionaires move.

How many held that long there must have been quite a lot i would have held at least 1/4 while rising and i am sure others would have done the same and more than likely more, oh how great would that be lool

Well there's this man (http://www.theguardian.com/technology/2013/oct/29/bitcoin-forgotten-currency-norway-oslo-home) who probably posted or at least lurked back in the very early days of this forum:


That article was published before the November 2013 spike. Even today, 5,000 bitcoins today would be worth 1,310,000 USD.


I think you mean "1 million dollars" since 3,900 BTC is equal to 1,018,000 USD according to Preev.

By 2020, when bitcoin will be 10k USD, there will be many bitcoin millionaires around...

We're all millionaire's...in 50 years time. Bitcoin maybe not be a lot now, but once you cash our later it's going to be worth a lot.

At 10k/ea, that's about 40x the current amount. If you buy in today, you need 25k USD to become a millionaire.

It's not likely that there will be a lot of people who have 25k USD to spare for bitcoin, while not having a significant networth to begin with.

Not sure how many are left who bought in at a significantly cheaper price.

I wont think so that anyone did but I guess that on satoshidise some peoples really did

That is nice to know, i won't become a millionaire but my babys have a chance to break the cycle and gain financial freedom, what else could i want, that would make me happier than if i received it.

Who knows though maybe it can just as easy turn the other way and crash to nothingness.

Op i am sure we have many people who became millionaires and just as sure as many would have been but ended up selling their stacks far to early like the 2.6million pizza man at one point them pizza's were worth 10+million lol  

I made 1 Billion Zim Dollar a while ago, does that count.  ::)

The people who are millionaires from Bitcoin will not waste their time here.... They sipping Mojito's on their private islands.  ;D ;D ;D ;D

Nothing wrong with having ambitions.....  ???

God no. Not I.  ;D

1 million will not buy you a very nice private island. You guys overestimate the term "millionaire". It's no longer what it was in 1950. I would say to live a "typical" "millionaire lifestyle" you probably need at the very least 30-50 million dollars.

There aren't that many 30-million bitcoiners, and even those who really are the really early adopters that have 100k+ bitcoins, it's simply not liquid enough to afford them that kind of a lifestyle. At most they can buy a pretty nice house/apartment in a major city and retire, likely they'll still be interested in bitcoin's progress.

I think what OP is trying to ask is whether there are any millionaires here who profited during the bitcoin boom, not trying to ask whether there's any chance for any of you guys holding onto bitcoin whether you will becomes millionaires. Never mind. I'm sure the question is 'yes'. There are lots of early adopters here and even if few of them have already made millions, might not be so kind as to let you know on the information.

1 million USD in India? Middle class?

1 million USD isn't a lot in New York or London or Paris or Tokyo. In India with several million? I highly doubt you can say they're middle class.

You'd have to be pretty heroic to have been around since those days and not sold out or been ravaged by the countless scams and failures.

 
 

Or you could've forgotten about it completely in your wallet :)

No, if you have already 50.000 BTC or more and you acquired it in the early days of bitcoin. And I think even if there are some rich bitcoiners
here they not necessary want to reveal themselves. I wouldn't brag about it either.

Rupees are used in India. 1 million rupees are worth only 61 BTC.

Not a millionaire, but in the summer of last year I found 10 coins on a wallet I had from when I first heard about BTC and I sold them for just over $10,000. Not a huge amount of money to some, but did enough for me so I could spoil myself and treat myself to a very nice new laptop and a short holiday. :)

In my Country.... Yes
Bitcoin here is 2-3 Million ;D
So... yup, i live in Indonesia ;D

No idea what you're talking about, man. I lost all my gold/silver/Bitcoins in a boating accident.

Who was the sucker who paid $10K for 10 BTC last summer? I have some coins I'd like to sell him.

some of them lost all coins, like the one that lost million with his HDD being destroyed in the rubbish dump, other simply bought something like cought pizza cought, and others sold them all when they were pretty cheap

I been mining since 2010 and never sold any btc .. do the math :-) .. but nobody is going to admit to being a millionaire on here or they're gonna have the IRS banging on their door :-)

Most of people who earned alot in the bitcoins last bubble were not casual bitcointalk members, and probably had more info on what is going to happen and when.
I think most older users here, myself included earned a nice bunch, but not even near to a million.
When u buy something for 10-20 $, when it comes above 200$, its hard to resist not to sell, so most people just sold too early, and i think it will happen again if bitcoin gets another bubble.

cheers

Its true, maybe someone who wants to risk so much can hold it long time, but most of the normal people who are probably users of talk do this as soon they have BTC to sell.

yes his name is Satoshi and only a couple that presumably have upto a million coins hoarded (though i personally think satoshi only mined half a million coins)

People who adopted bitcoins early will definitely millionaires

This.

BTW, I have some millions now too... in satoshi.  ;D

I am infact talking about US dollars

I am pretty sure  all the early adopters did.

Maybe the guy that sold laszlo the pizza? 10000 BTC is about 3 million right now...

You have been mining since 2010? So no doubt you must be a millionaires now. In 2010, you can mine a lot of Bitcoin simply with a graphics card and that amount of Bitcoin is very valuable today. :)

maybe the Bitcoin supporters could,they got a lot of BTC in the early period and held them tight.

There are only 15,000 millionaires in India and counting their dependents we are talking about 75,000 - 150,000 people in a country of over a billion.  Otherwise India's millionaire households are only 0.000056% of the total population.    Middle class is often defined as 40%-50% in developed countries and 10%-30% in the developing world.  So millionaires are not middle class in India.


https://www.youtube.com/watch?v=Xl0b2LGf9jM

I think pandher has been watching too much YouTube  ;D

With the amount of coins he had he would have been a millionaire but as he has not touched them for 5+years makes you wonder was he already a millionaire who never needed the money, if so then Bitcoin never made him a millionaire because he was already one.

It could have made him a billionaire if some how he managed to sell all million + coins for the high of 1000 which is unlikely and he never anyway.

It would have definitely  created millionaires and could have made a hole lot more but i bet there are many who could have been but unloaded about 20-50 dollars that must suck  :P

Reading through page by page of posts i have to agree that probably the temptation of seeing the coins rise from a mere few cents going to dollars will be too hard to resist on not to sell. But i think true bitcoin believers will most probably hold on no matter what the price is. And I'm sure there are a few who even though have sold a bunch would still be keeping a few hundreds in their account.

Strange. Most people tend to overhold. I know many people who during the stock market booms made quite a bit of money, got addicted and put more and more money in, until poof the companies they invested in go bankrupt, or internet bubble, or 2008.

BTW that 2030 india vid is pretty funny. +1

Different psychology though. That probably counts for someone who bought in in the last couple of years, but a very early adopter would have effectively paid nothing for their coins. If your nothing turned into several thousand dollars but the whole thing was still tiny and fragile, you'd be very hard pressed not to realise some gains.

I read an interview with the guy that sold laszlo the pizza. He said he had no big amount of bitcoins when they became worth a fortune. He traded a tiny amount and sold them for $1000. According to him that's all he got out of it, apart from the two pizzas.

I don't know how much laszlo made out of his 10000 BTC though.

Can you report here the link of this interview? I would like to read it. However I have discovered bitcoin few years ago (in 2012) but I thought it was only a 'scam' and never thought it would succeed as a lot of people. So I have never bought or mine it  :-\, but who car es?This is still an experiment and I am here for discover this new economy.

Here an interesting thread of : rpietila  (https://bitcointalk.org/index.php?topic=316297.0)

waiting for 1btc worth 100k

i have 10

I might have got my facts slightly wrong, or read an earlier version of this article, or a completely different one. However, this article says he sold his remaining bitcoins for $4,000.

http://bits.blogs.nytimes.com/2013/12/22/disruptions-betting-on-bitcoin/?_r=0

Mr. Hanyecz, for his part, has given up mining. With so many people trying to create Bitcoins, and the entire process becoming more difficult, the cost of running mining computers, in terms of the electricity bill alone, has soared.

Any regrets about those pizzas?

“No, not really,” Mr. Hanyecz said. He sold the rest of his Bitcoins as the price approached $1, netting him about $4,000. “That was enough to get a new computer and a couple of new video cards,” he told me, proudly. “So I’d say I ended up on top.”

Email: bilton@nytimes.com

Correction: December 23, 2013
An earlier version of this article at one point misstated the surname of Laszlo Hanyecz. It is Hanyecz, not Hanycez.

take a fly ... do the all ATM BTC to Cash over the world (especially in swiss), done.

Since we're still in early adoption phase, yes.

I'm not, but there are thousands here.

Yeah, that guy rpietila for instance, he got lucky enough to be able to buy a castle for himself, that should tell you how much he made.

So, fix the title.

Millions of a random currency (yes, US dollar is a random currency here too) doesn't necessarilly means something. Rich =! millionaire. In this sense, being a millionare in gold or silver would be much better.

Most active accounts? I guess I did something wrong then. I had many bitcoins at some point, but I spent a lot of them & lost some of them. Many others bought stuff and made some bad decisions too.

However I was almost broke when I started using Bitcoin and made a decent amount of money in this rollercoaster.

I think a lot of people sold too soon or got scammed.
I got into Bitcoin around $10 but lost most of it on scams...

I bet there're lots of people like that. And i agree- they don't tend to revel themselves. what for ?

man i sure wish i was.. im hating life atm

As do all of us

Sure, probably a lot of people hit 1 million USD in Bitcoin when the price was over 1000 USD per coin. Does being a millionaire for a week count?

Hopefully within 10 years