Bitcoin Forum

I came to know about Bitcoin as everyone here did it was from my friend. I was living as usual a life controlled by the government and its banks. I was not angry about my life, still I had the anger to be someone who can succeed.

I had somewhat good childhood but I always saw my parents struggling to get those fiat. It did saddened me as I saw my parents living a routine life and still did not enjoy it.

Now I know why they were always struggling to get the ends meet. I do not.know whether anyone here can relate to the same experience of my parents

When I understood the true potential of Bitcoin. I joined this forum as I am not someone who can spare the money required to invest for 1BTC.

So, my question is can Bitcoin give a life that I dreamt as a child. Is it possible to gain financial freedom? What exactly does financial freedom means in context of Bitcoin?

# Please ignore my typo and spelling mistake.

Thanks!

In the context of bitcoin financial freedom simply means having control of your money without any restrictions or regulations from the government or banks. Imagine wanting to send some funds to someone outside the country and the government puts a restriction of the certain amount that can be sent this could be frustrating but with bitcoin it doesn’t have this kind of restriction.

Nonetheless I need to point out something that bitcoin isn’t a get rich quick scheme so having this narrative that you could be super rich with it is a bad mindset getting. Yes there is profit for a an investment done but that is possible some that can hold the coins for a very longer time.

Also you don’t necessarily need to hold 1btc but can purchase fractions of it (satoshi) and as the price increases they also rise in value. The clear rule in investing into bitcoin is to invest an amount that is losable. This is clear because of some certain downturn periods (bearish period) that bitcoin faces.

Many people can not afford to buy 0.1 BTC so if you have 1 BTC, you are richer than those people.

About rich, what is your rich definition?

You should know in many nations, $20,000 or $30,000 is a dream of many people so I am sure with 1 BTC, in 2023 or 2024, you are rich in many nations.
If you can hold your 1 BTC till 2032, it would be better and you will be richer significantly.

See Controlled supply (https://en.bitcoin.it/wiki/Controlled_supply) and at the end of era 7 (starts in 2032 and ends in 2036), 99.2% of Bitcoin total supply will be available from mining. I am sure you will be much richer than now (if Bitcoin won't die in 2032 or 2036).

The correct answer is YES and NO, and if you are wondering how this is possible, the answer is very simple. 1 BTC in a third world country and the same BTC somewhere in a developed country definitely have a different value for the one who owns it. For someone, the current $30 000 per 1 BTC would represent a real fortune, for someone else it would certainly not be the case. This means that everything depends on where you live and how you perceive the term "rich".


I hope you know that you don't have to buy 1 BTC to own it, you can also buy very small shares if you consider that the smallest unit of BTC "satoshi" 0.00000001, and you can theoretically buy BTC worth only a few $.


It is possible to make some dreams come true by investing some money in Bitcoin, but considering that you yourself admit that you don't have any money (or that you don't have enough to buy 1 BTC), then that dream cannot come true literally overnight. If you set a goal and if you persist in it, maybe one day you will achieve your dream.

As for financial freedom, Bitcoin gives you the possibility to be your own bank, in other words to control the private keys that allow you to spend the Bitcoin you bought. Simply put, only you have control over what you own, of course if you want it and if you understand how to achieve it. You buy Bitcoin, send it to your address in a non-custodial wallet (desktop, hardware wallet) and after you make a backup and store it safely, you have your own bank ;)

If the life you dreamt of as a child was to use a censorship resistant and permissionless currency, then yes BTC is created for that and you can use it and enjoy that freedom, but if the life you dreamt of as a child was to be very wealthy, and you want to do that with BTC, i'm sorry you cannot, except you're an early adopter. If you mined BTC when it was just created and you have been holding since then, you would be very rich through BTC now, but if you are just adopting now how can it just make you rich, you have to first of all buy it now with another currency and hold it, and your returns or how rich you can become depend on how much BTC you can buy now, and also how long you can hold it.

First of all, to be able to buy one bitcoin you must be rich you can't possibly purchase something worth ~$30,000 when you don't have up to that amount in your possession and in my country if I should convert that money into my local currency that's a lot of cash.

If you're the type of bitcoin investor that's looking to go in for the long term, then there is a high chance of you hitting big if the price of bitcoin moves in the uptrend.

Another thing you should not is that it's never too late to invest in bitcoin, if you look at the price change of bitcoin several months ago you'll see that it has increased significantly so assuming you bought one Bitcoin three months ago you'd have had plus ~$10,000 profit.

Well you must not invest in a whole bitcoin rather only invest were your strength could reach and carry because 1 bitcoin currently is very huge and not everyone can afford to loose such amount if the bear comes.

Now what it means by financial freedom, is simply because you control your finance by yourself there's no restrictions and no third party involving with your funds if you holds bitcoin, you send and spend your money with flawlessly.

The rule of investment in risky assets is that you should only invest the amount you can afford to lose, so do you have $30k that you can afford to lose overnight?
It's not the fact that BTC would go to zero, that's a long gone fear, but there are other risks involved, so to make a really long story short, someone who can afford 30k is not something who will dramatically have his life changed if BTC goes to $300k let's say. Slide the bar to BTC to $1 mil, and things change, now it's also a thing of how much can you afford not only to invest, but also how much you can wait for your dream!


Unless you tell us, only god knows what you dreamt as a child, if those dreams include a 30-room mansion by the seaside with a tennis court and a Bugatti La Voiture Noire parked between ten other sports cars, probably not! Everyone has different dreams, some dream of a tiny house in the mountains and just a quiet and normal life, earning a bit over the median pension, some are going nuts unless you go into details no one will be able to even have an opinion on it.


Again, it depends!
For some, it means having enough assets and savings to never care about money in their whole lifetime.
For others, it means not being at the mercy of a 3rd party, with no bank, no authority, no government being able to seize your wealth.
But not that many really care about the second part anymore, the focus is on the first.

Define 'rich'. If 'rich' means being able to afford a comfortable life for some time, to go for a vacation to a nice place etc., then yes, 1 Bitcoin will likely be enough for that this year. If 'rich' means being able to afford to buy a house or even a flat somewhere in a Western country, then I don't think so. If 'rich' means having more than the majority in the world, then I think the answer is yes. The op mentions parents struggling to make ends meet. I think having 1 Bitcoin can solve that matter, but no so much because it's Bitcoin as it's because of how much Bitcoin can be sold for.

Not at all. I mean there are many countries where 1 bitcoin will allow you to live comfortably for soime time, but for that you'd have to define "comfort"
For one person living comfortably will mean having a roof over their heads, food in the fridge, a bottle of beer and a cable tv with a match on.
Another person will define comfort as having someone come to clean the house and massage them, a swimming pool in the back yard and cooked meals delivered 3 times a day.



In the US people are often defined as high net worth when they become millionaires, but that doesn't mean they're rich. Rich people can afford whatever they imagine, that's how I understand the term.
Russian oligarchs who own yachts and private jets are rich.
Someone owning 1 bitcoin isn't wealthy, nor rich, at least not yet.

It depends on what comfort means to him. For some people, it's much more than just having a house, a car, and being able to afford the food they really want. They may want luxurious items like a highend car, a big house, or even bodyguards to feel truly comfortable and happy.

Having 1 BTC isn't necessarily enough to make you rich. In fact, some people could spend one Bitcoin in just one week. It really depends on where you are located and the minimum cost of living in your country. Additionally, it depends on how you want to use the money.

Some people have expensive tastes and would spend it on luxury items. On the other hand, some people can survive for a long time with one Bitcoin if they know how to budget and avoid frivolous spending.

you should know that everyone in this forum has a real life and their own family and everyone is struggling to live it well!

- The definition of rich in various countries varies depending on whether you live in a poor - developing - developed country. if in my country, have 1 bitcoin (at today's price) that means you are already a rich person, if you exchange it for fiat (in my country) then you already have 1 house and 1 cheap SUV) -

but the "financial freedom" that is meant in Bitcoin is, you are in full control of your money (your own bank), you are not controlled by fiat which can be printed by the government at any time.

slowly but surely, we are heading for that freedom, starting with el salvador which made Bitcoin legal tender there, in the future there will be more and more countries emerging that make Bitcoin as a legal tender.

No, 1 BTC won't be enough to become rich. Imagine you don't have any properties and goods and that you have to build your entire financial life with just 1 Bitcoin. The maximum you will be able to acquire with that money is a house or a car. Then how are you going to get rich this way? From where are you going to get money to maintain a house or a car? How will you generate income for a living? A single Bitcoin isn't enough, even if you live on the poorest nation in the world, I suppose...

1 BTC is helpful as a powerful booster to start an investment thinking on your future, but it won't raise your financial class status. You need much more money in every cases!

You have to understand that Bitcoin isn't a get rich scheme and since you're now wanting to own  Bitcoin, that's if you haven't gotten any now, I would say that, owning Bitcoin helps to fight government control over money since Bitcoin is decentralized digital currency which is controlled by just the owner.

On the long run, financial freedom all depends on your definition of it but owning one Bitcoin is already a great achievement and if the price of Bitcoin rises to a new all time high, then it is certain that you should be making twice the money you invested Wich is you're expected to $60k that's if you bought at $30k.
I think you should always do your own research (DYOR).

If you're seeking a way to become wealthy quickly through Bitcoin investments, then it's probable that Bitcoin is not the best option for you. However, if you're interested in taking advantage of Bitcoin's volatility and making a profit, then Bitcoin might be the perfect choice for you. Although Bitcoin can provide high returns at times, it's important not to have unrealistic expectations. It's uncertain whether you will achieve the same results as others. You should be prepared to hold onto Bitcoin for a longer duration, perhaps until 2030, in order to earn a decent income from it on a daily basis.

I once read a thread with almost the same title because if I'm not mistaken at that time only 0.1 bitcoin was written.
But apart from that, I actually still feel that regardless of the amount, when it comes to defining wealth, everything will be different in perspective. Everyone has their own standard of wealth. for some people 1 bitcoin will obviously make them rich, but for others it is still not enough. but of course there's nothing wrong with either of them because this really depends on the mindset and abilities you have because when we talk about wealth I think everyone will agree that no matter how much money one has it will still be said to be insufficient.

The rich scheme differs from every country if from developed countries maybe with $ 30K it is still relatively standard while for third world countries it may be a large amount but to measure wealth it cannot be ascertained but what is clear 1 bitcoin will cover your own costs or with other families.

Don't ever think that investing in bitcoin will get rich quick, that's the wrong thinking because we know investing in bitcoin is quite a high risk and you have to be ready to lose the point if you understand then the mindset will not be like we will think about how to survive long with bitcoin.

If you survive bitcoin for more than 1 decade, you can say that the price of bitcoin is high, then you will get a lot of wealth, but if you measure this year, you certainly won't get rich quickly with 1 BTC.

It's really hard to say whether 1 bitcoin is enough for you to have financial freedom. For me financial freedom is that you can sustain your lifestyle and with that it really depends on how you are going to spend your money or your bitcoin. Maybe in the country that you live in, the cost of living is high that it won't be enough for you. Or if you have frugal lifestyle, maybe, but what if you have family to feed? So its up to you on how you are going to live with that 1 BTC in your wallet. There are so many factors in the equation to have that financial freedom that you dream of.

OP i was wondering if you have really take out your time to study more about bitcoin as stated in your "context". I think if you do, you will  really understand what you are into on this platform. If you are thinking of a get rich quick scene through bitcoin then i must say you will have to look for an alternative option because bitcoin ownership is not a bed of roses.

According to your topic, bitcoin price compared to other national currencies is sumptuous. I do not know where you are from so i can not tell about  you but for some countries, it is very costly that  BTC1 could get a lot of things for any holder.  You can buy it in fractions as you can afford to and  hold for a long term so that when the price of bitcoin appreciate in value, your invest appreciate as well.

That surely depends on which country you are living. In a 3rd world country, 1 Btc means so much for a person living under a regular wage earner, but it would only last for a couple or more years if not put it into right business/investment.
 1Btc for a progressive country doesn't mean that much due to the cost of living, but Btc could somehow reach to price range in the future where a person would be considered rich if he owns 1Btc. All the perspective I have mentioned above was only basing on the current Btc price.

It is true that having just one Bitcoin is not enough to become wealthy overnight. While Bitcoin has appreciated significantly in value over the years, its price is still subject to volatility and is influenced by a range of factors, including market demand, regulatory changes, and technological developments.
That being said, owning Bitcoin or other cryptocurrencies can be a valuable part of a diversified investment portfolio and may offer potential for long-term growth. As with any investment, it is important to do your own research, understand the risks involved, and seek professional advice before making any investment decisions.

First I want you to understand that Bitcoin is not the answer to everything and it is your knowledge about it that will pave for your success.
Having said that, if you're not from a wealthy family it is easy to obtain a whole Bitcoin even some of the users of this forum who are into cryptocurrency for the past 6years don't have a whole BTC in their portfolio but it is always the dream of every Bitcoiner to hold 1BTC out of the 21 million coins.
That doesn't mean it won't be easy for you to obtain a whole BTC and like I said it all depends on your knowledge and technology skills.

From my understanding, it means Bitcoin will present you with the needed opportunity and it is your investment decision about BTC that will make you have enough funds.

So what is financial freedom means? Which means that you do have the money or finances which you could be able to sustain yourself in living without having the need of some work or day job.

Since we are talking about 1BTC on here which is equalled to $30k+ as of this moment, isnt this something that an amount could put you up into such situation? I dont think so.
Even if you do live on a 3rd world country, i dont see for these amounts to be something that would be enough on having that kind of condition.

Being rich is something that having the finances which is really that you do able to survive without having a job or whatsoever.

This depends on how much money you have and what you consider to be rich, such as being able to live a comfortable life. The amount of money you own in bitcoin and its equivalent value may differ in different countries, causing disparities in whether you consider yourself to be wealthy or not.

The equivalent amount of 1BTC in my country could make me rich and allow me to live a comfortable life for up to two to three years if I spend it wisely and not extravagantly, whereas that same money would not allow someone to live a comfortable life in a country like the US, where they are mostly affected by inflation.



Being financially free in the context of bitcoin is for you to be able to spend your money without any limitations, no strict regulations as to where  to send money to and from where to receive money. If there’s anything that’s stopping you from spending your money in bitcoin, then the context of financial freedom in terms of bitcoin is being breached.

Depending on where you live. Like for now if bitcoin's price is $30k and you're somewhere else living like in a third world country, that could be as good as it is but I don't think it will make you consider rich for this year.

It's truly possible to be financially free with bitcoin but as a starter, you shouldn't be thinking of that yet for now because it will require you a lot of time until you finally see it.

Well, being rich is subjective so that will give you your own description of being rich if you already have bitcoin.

You have to work hard to get successful in life. Many individual starts out poor. Those that are successful now didn't become successful overnight. To succeed, one must be diligent, patient, risk-taking, and persistent.

I'm not sure of the exact life you pictured for yourself when you were a child, but I do want to warn you that nothing worthwhile is ever simple. The easy and well-furnished life you dreamt of as a child wouldn't be that possible if you don't have the resources to actualize that. One way you can actualize that is by
taking that risk of investing hugely in bitcoin and hodl it for a long time but unfortunately, you don't have the resources(money) for investment

That really depends on where you are from and what is the amount that makes you rich in your country. But I don't think you can just retire and start living your life with that money. So in my opinion owning 1 btc doesn't make you rich, but if you have one bitcoin and other businesses where your money is flowing you can call yourself rich. By rich I mean you are richer than most of the people who don't have 1 bitcoin.

Each country does have their own economic condition or situation on which living would be particular depending on how much you do earn and how much you do possess.In speaking or describing about having financial freedom is something that do talks about owning a particular amount which it would be putting you up on a condition or situation on where you could buy anything you do want or like and able to live up without
having financial problems since you could buy everything. Its true that having 1 bitcoin wouldnt really be that sufficient unless if it would be going to 1M/coin
then it is something that could give out that kind of opportunity or chance.

How can you define in yourself the financial freedom that you wanted or might one of us want?
IMO, this financial freedom means having enough passive income to cover your living expenses without having to work for it actively.  So it means you need to have a stable job to have a stable source of income.  That's the real meaning of financial freedom.

Bitcoin isn't a magic solution to financial freedom.
It's just one tool that you can use to achieve your financial goals.  You still need to have a solid financial plan in place, manage your expenses wisely, and invest in a diversified portfolio.  It can potentially give you the life you dreamed of as a child, but it's not a guaranteed path to financial freedom.  It's just the same on fiat that you've got full control of your asset without controlling the third party like central banks, that's only the advantage.

Welcome to the forum. When we talk about financial freedom in relation to bitcoin, we are not referring to ROI that made us rich, we find Bitcoin appealing gives you the freedom to be your own bank, no third parties, no drawbacks, no limits.
It takes money to make money, if your dream is to drive a Ferrari, live in a nice house and go on vacations you will have to risk investing a significant amount of money in buying bitcoin and hodl till the price goes up.

I disagree because nobody can predict the actual value that Bitcoin can rise to. Who knows maybe one day we'll be able to see Bitcoin trading at one millions dollars or even more higher values than that amount.

If you own just one Bitcoin when this price is reaches then you would have become a millionaire immediately and that means you're rich. It doesn't matter what amount of Bitcoin you hold but how patient you can wait.

The price might be looking impossible but I'm not saying this will happen tomorrow, we have to wait years maybe decade but at a time we'll be buying one Bitcoin in their millions and if you're willing to hold, you'll also become rich.

No matter where you live, 1 BTC in 2023 is not going to make you rich unless Bitcoin goes up to a million usd in price within this year. There is no real point in debating this, I would think.

If you are thinking of trading (buying low and selling high), then yes, technically if you trade, your profits will gain more profits and so on and so forth but that is assuming you do not make losses, meaning you make perfect trades.

You could also invest your 1 BTC into your own business and miraculously get rich. But we are talking about the potential of 1 BTC, not 1 BTC itself.

There is nothing wrong in getting reach though but OP must understand that getting rich is not a day task and can not be achieved just holding fractions of bitcoin. Although OP can accumulate bitcoin gradually as it pleases OP to his or her satisfaction.

OP, let me correct  an  impression, owning bitcoin gives you control over your finance and assets and does not help to fight the government. Do you think you can fight the government.

Realistically, how long will it take for the price to reach one million? Leaving aside crazy predictions that it will reach it in a few months, it is normal to think at least 2 cycles, and more realistically I would say 3. You also have to think about what you will be able to buy with a million by then, which will be considerably less than now. If you have been able to afford to buy a bitcoin now, and you can afford to wait so long without selling, even if you benefit from the revaluation, it is not going to radically change your life.

It depends on where you are living. If you live in a country where the average salary is lower than the rest of the world, Take an African county, for example. One Bitcoin is colossal money there. If you can buy one Bitcoin and you live in an African country. You are already considered a rich guy. But, If you live in a country like the US, UK, or Canada. Probably it's not that much.

I won't say one Bitcoin will make you rich in 2023. But nobody indeed knows when we will see a bull run. We are at the $30ish price range now, and I already consider it a bull run. The Halving is heading next year. A lot of people expect a bull run after that. Because according to the previous pattern, We see a new ATH after every Halving. It may take more than a year after the Halving. Let's say we may see another ATH in 2025. Nothing is guaranteed. That's just speculation and assumption.

As of right now, the value of 1 Bitcoin is around $30k, so that's a lot of money if you're from a third world country. It's true that that amount of money can't make us rich, but if we can hold it until 200k or 500k, then you can be financially free with 1 BTC there. I mean, besides you can buy a house, a car... you still have a huge amount of money to start your other businesses. Don't forget 10 years ago, 1 BTC was nothing, but now it's worth $30k, so 10 years from now, you won't be able to own 1 BTC.

You will get financial freedom if you invest as soon as possible, saving will only save your money for a while, but by investing in the right form, you will have more opportunities to be able to live a quieter life in old age, but unfortunately many think financial freedom is when you can live in luxury
Investing in Bitcoin can be an option, if you can't buy large amounts then you can use the DCA method.

I think this is the same as investing in other forms, being able to provide regular income without having to work hard.

There is no doubt that Bitcoin has changed the lives of many people but mostly those who invested in it in the beginning when no one knew that the price could go so high. Because the price of Bitcoin was very low in the beginning and Bitcoin was within the reach of almost everyone. Where for a small amount you could get hundreds  of bitcoins. At the current price of Bitcoin, it is not easy for everyone to acquire a large number of Bitcoins. But still if some one has the capital, he can get rid of many deprivations in his life by investing in Bitcoin. But now investing in Bitcoin will require a good amount of capital. You can't change your life with just one bitcoin.Because even if the current value of Bitcoin is four or five times higher, one Bitcoin cannot change anyone's life.Instead if you invest one bitcoin money in some small and good cryptocurrency, it can play a very important role in changing your life.Because this is one place where small investors can expect a big return.

Others may not agree with my opinion, but I think financial freedom in the context of Bitcoin doesn't have anything to do with having much money you don't have to worry about it anymore. I think financial freedom in Bitcoin's context is that you are no longer dependent on the abusive banking system. You no longer suffer from the flaws and the fraud of fiat as far as your finances are concerned.

It isn't about getting rich. It is about emancipating yourself from traditional finance. It is about being free from the constant devaluation of fiat, from its mismanagement, from the need to trust them and being disappointed in the end.

It doesn't mean that you own 1 bitcoin and are rich because you still need to earn. I mean that 1 BTC will be gone if you just keep spending it; you should also earn it, and it is better that you earn than spend because it will accumulate over time. As long as you stay your wealth or your worth is 1btc then i would say that you achieved your dream that you are dreaming since child.  But right now, others purchase bitcoin to hold over the year, which they are looking to profit from and maximize the bitcoin.

I agree with you, when people listen to the term financial freedom they think of an affluent person which can afford to buy whatever they want without any problem.

And while that is without a doubt one of its definitions, when it comes to bitcoin this is not really what we mean, what we mean is that we are simply free to use our money as we want, after all it is common in many countries that if you go to your bank to get some of your money then you are asked all kind of questions about why that is the case, but why would anyone be subject to such an interrogatory when they just want to have access to their own money? Bitcoin allows you to have complete control over your coins, and if you want to keep them or spend them all that is your choice and no one will try to stop you from doing so, that is the financial freedom we want and we expect out of bitcoin.

according to my personal experience and opinion, the financial freedom that can be taken from the results of investing in bitcoin is basically you can make money without any interference from government power, and you have power over the income you have.

And about whether you can be happy by owning one bitcoin or not, this also has a complex answer. If you look at it from a positive (profit) perspective, you might be happy, especially if your country has money with a fairly large exchange rate, if converted from dollars. But buying one bitcoin for now is expensive, so if you can buy one bitcoin, without borrowing money, it means you are a person who is quite capable financially.

So basically having one bitcoin can make you happy, "if you experience profits and if the value of your country's currency is lower than the dollar".

Financial freedom can be consider in many ways such as you don't even need to work your ass off just to get income since you have business or having a well paying job that it can support you for more than months. I think when you doesn't need to think of money when you're buying things and when emergency you always have the funds. But when it comes to financial freedom in Bitcoin, it an easy concept of you have the control whether you sell or invest your Bitcoin unlike the two which they control you assets with taxes. With its current of Bitcoin, of course you can be called rich since with that amount of money you could do a lot of things or even survive for a long period of time. Only if you sell your Bitcoin because if you only hold your Bitcoin. Bitcoin itself still hasn't used around the world for you to be recognized rich by people is by selling it. Its still up to you to hodl or invest the Bitcoin you have.

One BTC ie the current market value is $29.9K something. In the current market context, the market value of one BTC is high. That is, if you convert one BTC to local currency of your country, you may be included in the list of a rich person. 

However, if one BTC can be held until the end of 2023, then the market value of BTC can be expected to increase significantly from the current market value. Because if we look at the Bitcoin market two to three months back then the price of Bitcoin was relatively low. And in the span of two to three months, the market has moved from that state to a better state, so it can be expected that the market will be more positive by the end of 2023. 

In practical terms, 1BTC is many. If you can risk one btc then investment is ok for you. Because the market will not only grow after you invest. You have to hold one BTC by taking into account everything that can happen in the market and accept the risk.

But you didn't say what amount of money a person is called a rich person in your country. There are many categories of rich, we hope to hear from you which category you are interested in becoming rich.

Owning one whole bitcoin might not make you rich in 2023, but it has got potential to grow in the long run. Maybe after a decade or you, so might be rich enough to not worry about paying the bills. The Markets can be crazy though, with no guarantees. You might also have less that what you have after a decade.. you never know.
Financial freedom means you have enough money never to worry about meeting your basic needs and being able to lead a decent life without any issue. I don't know what it really means "in context of bitcoin", but I guess its you having a lots of bitcoin that can help you cover all your bills and needs no matter is the market is going down or up.

It depends on the kind of life you dreamt of while you were still a child, because 1 Bitcoin is quite a huge sum of money now (i.e $29,985), good enough to establish any type of business you may wish to kick-start, build a house and live an okay life, in as much as you utilize it very well.
Secondly, financial freedom according to the context of Bitcoin is an individual's ability to be in charge of his/her own funds at all times, which the govt nor centre banks has no control over it.  

It depends.

If you're live in developed country like US, owning 1 Bitcoin will not make you rich because the yearly average salary in US is around $60K-$100K, owning 1 Bitcoin is only $30K where they can get it after work for at least 3-6 months.

If you're live in third world country, owning 1 Bitcoin will make you rich because the yearly average salary in there mostly around $6K, owning 1 Bitcoin is same like working for 5 years.

In several countries 1BTC is already considered a huge amount, but for countries like US or the first world countries, they'll just consider that as a decent amount of money though it is still arguable. Well, I could say that since, if we talk about 1BTC here in our country, you are already considered a millionaire, but in your countries that is mostly your annual income, while here? our annual income couldn't even reach 1/4 in your country. So in the end it's not that you will be rich automatically but that is already a huge money to everyone, and knowing the possibilities and potential of bitcoin, 1BTC can greatly change your life in the future not only in 2023.

Having 1 Bitcoin can make you rich beyond 2023, if you already have 1 Bitcoin it's better not to target 2023 because we are already in 2023 and this year is a bear market still, do not have such expectations yet.

If I were in your shoe, my target will be 5-10 years from now, but still, you will make some profits in 2025 because that's when I expect Bitcoin to make a new all-time high again.

Simple owning wont make you rich. The main reasons are paying taxes and the way Bitcoin owner gonna turn crypto into fiat. These steps can take a huge part of bitcoin owners fortune. Dont forget that one quarter of 2023 has already passed, and in time measurement, 9 months is a short period for cryptocurrency. And like people said, a lot depends on country bitcoin owner is located. If we take current price of $30k, then in one country you can live for years, in other it will be enough for few months. Do you know that among all address that hold bitcoin, there are almost a million (https://cointelegraph.com/news/bitcoin-addresses-holding-at-least-1-btc-close-in-to-a-million) of them who hold 1 BTC. That might indicate that owning just one bitcoin isnt enough to be considered as rich.

1 BTC won't make you truly rich, even if it moves to $100K be the EOY. IMO, I think you can be called rich if you can live without work and any income for 5 years or so, and you have where to live and, if you need to, what to drive.

So far, 2023 looks very bullish, and who knows, maybe we will see very good growth this year. But most likely, bitcoin will reach peak values in 2024-2025. The issue of wealth is very interesting, because for someone 100k is already a good state in which a person will consider himself rich, and for someone the amount should be much larger, so it all depends on what it means for the OP to be a rich person.

Yes it depends on the country you are , but here in Africa I think owning 1BTC will make you relatively rich or even rich, Surviving on 1 BTC for a decade  isn't a good idea in this part of Africa unless you have other source of income backing up the BTC,
1 BTC will raise your standard of living in some countries and not making you reach so it all depends on the country you are.

Well, well, well, it sounds like you caught the Bitcoin bug! Congratulations, my friend, you're now officially part of the decentralized digital currency revolution. In just a few short years, the rise of Bitcoin has transformed the world of finance, giving individuals the power to take control of their financial destinies because with Bitcoin, the sky's the limit and the only thing standing in your way of success is your own imagination.


I think it's common for parents to work hard and not all have the chance to enjoy their life to the fullest, but they do it to provide for their children and give them a good childhood. While this may be hard to see, try to use their example as motivation to create a better life for yourself. You don't have to stick to a traditional 9-to-5 work routine if it just doesn't work for you.


And as for whether Bitcoin can give you the life you dreamed of as a child, my opinion is Bitcoin is just one tool that can help you achieve financial freedom. Financial freedom means having the ability to make choices about how you live your life without being constrained by financial constraints. In the context of Bitcoin, this can mean having more control over your money and being able to manage your finances independently from the government or financial institutions.

This really depends on what you mean by being rich. YES, for me Bitcoin can give financial freedom. But note that this may be a long-term investment so patience is required also depending on your risk appetite, you can invest more.

Obviously Satoshi Nakamoto's revolutionary invention Bitcoin is the main purpose of spreading economic freedom. Bitcoin is definitely capable of providing financial freedom through decentralized systems from the monotony of conventional banks and governments. Whether you call it a child's dream come true or not, is up to you.

The financial freedom context of bitcoin is make a decentralized finance system all over the word, its main purpose is to eliminate the inflation of fiat currency and the government control and bank control over it.

It depends.

Assuming someone is not rich but poor and has just little amount of money to invest and the money is not enough to make the person have financial freedom. You can invest less than $50 in bitcoin, but I do not think that can make anyone to have financial freedom even during bull market.

Although, those that invested in bitcoin earliest and those that were miners with just their laptop or desktop computer in the past were able to become rich, but even money is required to get a laptop and to also invest.

Bitcoin is still a speculative asset in short term, but a store of value in long term. People that invested a year ago or two years ago are still not having net profit by now. If they have not sold their coins, and they bought it at $50000, they are still in unrealized loss by now. Although, bitcoin can get to all-time-high and they will later make money but it has been long that bitcoin was below $50000. Some people even panicked and they have sold their coins.

I agree that bitcoin not only brings wealth but also gives us financial freedom, we are no longer completely controlled by the government. But I won't agree with you about the bank asking many questions when we go to the bank to withdraw money. I don't think it's interrogation or torture, but since they want to make sure you're the real owner, it's just a form of bank-style security to verify things. If you don't want those cumbersome procedures, you can save your money in other ways because no one is forcing you to deposit money in the bank, it's all voluntary.

In our currency, 1 Bitcoin is already worth more than a million (1.6 to be exact) that means if you have 1 Bitcoin, you're a millionaire already. But not so rich since money can be easily spend plus the cost of living is expensive especially when you're in the city.

If you like to invest in Bitcoin, you can start buying in fraction. Use the money that you can live without so even it takes longer before the bullrun occur, you'll be fine and won't be tempted to sell just because you're already in short of money. If you have Bitcoin, you're the one in control and that's the financial freedom of storing your money in Bitcoin compared to Banks wherein there's a risk of freezing your account for some reason.

Owning 1 BTC and keeping it safe until the halving happens sometime next year will make you richer by some more money, but it may not be enough to grant you the financial freedom you speak of. Even some rich men currently do not consider themselves as financially free because they do not know how tomorrow will be and riches is not the same as wealth that has a little more chance at longevity. The rich got wealthy by having good investments, you can have the life you dreamed of as a child if you make good investments with the profit you will make when bitcoin sets a new all time high price.

Bitcoin may provide an opportunity for financial freedom, but it depends on many factors. Financial freedom in the context of Bitcoin means that you have complete control over your funds, you can use them however you like, not limited by the rules of banks or governments.
Finally, financial freedom does not mean that you can just sit back and wait for the money to come. It takes effort and work to manage your funds and use them to reach your financial goals.

In my country owning 1 bitcoin can make us millionaire, it is 1.6 million pesos so if we have one bitcoin here we own millions of peso it can make us reach in year 2023 the problem is how to earn 1 btc that was a big problem this time, if only we know that btc will reach this far from year 2010 then we surely buy it before and hold it till today.

investing in bitcoin is of course very risky and will not guarantee 100% investment in bitcoin will be rich, because it could be that our bitcoin investment will be a loss and it is not impossible for people who are initially rich to  poor if rich people invest all their wealth in bitcoin.
that's why investing in btc must use idle money,
and should  a small part of our treasure.

In my opinion if you hold 1 btc you can get rich as long as you hold it for 20 years or more.

The DCA pattern is a great strategy for you to implement, not only are you unable to invest 1 BTC in the near future, but almost a lot of people on this forum are having the same problem.

So one of the opportunities that you can apply is the DCA pattern, it's basically not how much money you have, but how far you are ready to invest, bitcoin has provided a lot of evidence for long term investment and I hope you don't miss this opportunity.

Financial freedom lies not in how much money you have, but how exactly you use money to continue to make a profit, by taking the right opportunities and investing according to the strategy, then financial freedom will bring you to the stage of perfection. Bitcoin is one way that will bring you to the stage of financial perfection.

In this context bitcoin is one way that you can take advantage of, because bitcoin is able to maintain the value of the investment you are running.

It depends on how much did you buy and what price did you begin. Like if you have bought it when BTC was tanking around $17k, you could have made a sweet profit today as it was now $30k+.

As for me, at least it break even the price that I have bought in the first place. In my first few months of doing DCA, the price that time was exactly $30k before it tanked hard thanks to the Terra Luna, FTX, etc.

Now I am just holding my BTCs and wait for it to skyrocket once again. I’ll keep holding and see the effect of the next halving which is a year from now.

Sorry to say buddy but one of the elements of money is to be scarce and it will always be like this.. the only difference other's seem to have it easy is by investing in themselves to be able to get paid well using their expertise in their fields.

Hope you are enjoying  your stay here...

No, No, No...I think many of us have that wrong picture of bitcoin money growing  on trees and we all know this is far from the truth.
In todays world, to make money you need money things won't happen automatically,  we have to make things happen ourselves...

Rich no, thats the price of a nice representable car but maybe in other parts of the world this could count but still i think rich isnt the world for owning 30k maýbe if one had 21 bitcoins in these said countries it could coùnt.

Op you need to properly define, how much money can be considered as “rich” according to you? For many people the definition of rich will differ. So yes its really debatable that, with how much money, a person can be satisfied and can consider himself as rich. Bitcoins will no doubt increase your wealth. The reason for this is very simple, as Bitcoins are limited in numbers and the demand for the coin is increasing day by day. So if you own one Bitcoin in 2023, then definitely by 2025, you can see 3 to 5 times the profit. Now everything is subjected to market conditions and to be honest anything and everything can happen.

You don't need a whole 1 BTC to consider it as an investment. There might be gatekeepers out there that would say otherwise, but even a fraction is just fine. It's not really something that would truly give you financial freedom like you can get 3 lambos, since Bitcoin was not made for that way.

All in all, just invest what you are okay to lose. I keep buying whenever the price plummets, I don't really give a crap on how small I can afford to buy.

My parents also struggled to raise us because the income of my parents is far below what they needed to raise us. So we had to struggle to survive but it became worst when one of my parent died. The reason why most household suffer is basically because of low income. Others suffer because of waste or overspending. Some people tend to spend on what they don't really need. The number of children in the family also affect how well the family will fair financially.    

Financial freedom based on my perspective is the ability to afford all you need without taking loans or buying on credit. It is when you income or investment can afford you needs.  I don't know where you are based but 1Bitcoin is worth millions in my country's currency. If you can afford to buy one bitcoin, you are rich in my county. But buying one bitcoin is not a guarantee that you have attained the level of financial freedom. You might be able to attain that level if the price of bitcoin increases to a record high and you invest the profit you made on another business. But if the price remain the same or goes down your hope will be dashed.  

This actually depends on the current status of a person.

Rich is a relative term that is completely dependent on several factors. For example, the value of 1 BTC to people who live in developed countries may be small as compared to the people who live in developing countries. As the cost of living varies per country, a person may feel rich if he owns 1 BTC if he lives in a developing country.

Personally, 1 BTC is something that can guarantee me at least a comfortable way of living. As someone who lives in a third-world country, every value counts and that also includes the price of 1 BTC.

1 bitcoin is not going to make you rich, not for at least 10 years & that’s if you live in a less developed country. I think we can see $1,000,000 per bitcoin in the next 20 years but that’s not rich these days is it. My advice is just to keep buying sats, keep going until you are old. If you are only just getting into bitcoin now, you won’t get rich quick. You can make life changing money but it’s going to take a decade or two to be rich if you can HODL that long.

Many of us get and feel the same experience as our parents but we are given the opportunity to change our lives for the better than our parents.
And when you are already acquainted with bitcoin and try to own 1 BTC, I think it will make your life rich because the potential for future increases in BTC will be higher than now.
Getting financial freedom is possible for everyone especially if they can own BTC (a lot of BTC) because, with the increasing price of BTC, they can sell a small portion of BTC to make ends meet while they still have a large amount of BTC.
So the conclusion is that you can collect more BTC, the more, the better because you have a long term investment that can change your life later.

Both holding Bitcoin and staying alive in the next 20 years is not guaranteed, so I will only advise someone to hold Bitcoin this long if they are in very good shape, like have enough money they don't need because they are well paid or making enough money, either one of these, in the next 20 years we will see few bull market and bear market, my advice is to keep buying in a bear market and sell in a bull market, you will always have better profits to reinvest when bear market returns.

Bitcoin investment is always a cycle, you the cycle to your benefit.

I don't know the life you dreamt of as a child but what I can tell you is that bitcoin is not a get-rich-quick scheme. Is just like buying a plot of land in a deserted area in the past 20 years and now the place has become a city definitely if you will sell that piece of land it will not be less than triple the amount for sale. If you have money, invest in Bitcoin just to secure the future.

First, having enough money to solve any problem at any moment, being in charge of your own finances, and having direct access to your money without requesting permission from anybody defines financial freedom.
Depending on how you define wealth, owning or purchasing 1 bitcoin demonstrates that you have already achieved it.
Secondly, bitcoin may or may not allow you to live the life of your dreams. Your ability to wait depends more on you than it does on the amount of money you put in living the life of your dreams. You may make the most money by holding onto your bitcoin for a very long time.
Although it is challenging, if you succeed, your profit will be realized.

I do agree that nobody should put money they can';t afford to lose, too many people do that and the result is always upset. I have heard news about people passing away or taking their own life because they made a loss. I am sorry but if you are risking more than you could afford that alone was the mistake and the price drop after that is not the issue, or when you boguht, or the timing, noen of that matters.

You shouldn't risk it to begin with and if you did that then you are on a wrong path. I personally know that bitcoin will go up if I buy right now, and even though I know that I am not forcing myself to buy more because I already have very little amount left for this month, so why would I risk that type of burden on myself.

I'm not sure 1Bitcoin makes you rich. It depends on many things. How well accepted is Bitcoin in your community, how much your fiat currency worths, how much you appreciate Bitcoin, etc. In some countries you are ric with 27k€/$ and in other countries not so much.

Me im still on negative considering that i have bought on $46k until it did dropped as low as $15k as far as i remember but along the way i did make some DCA which im bit sure that im already on break even but well
as long you arent that selling on your position then it would be still considered as a total loss. Speaking about being rich then it would be entirely depending on how much you had been able to invest because
if you do only invest small then of course it would be normal that profits would be small but even if you do purchase a whole coin on 15k and with the current price of 30k
then it is x2 but its not something that you could make yourself that be called "rich".

No, Bitcoin cannot give you that life. Bitcoin is merely a decentralised currency created to for paying across the globe with ease, how can a payment mechanism make your rich? It's basically the chance to invest in it that "might" make you rich. But obviously it's already too late to enter bitcoin party for earning millions from just rags. So don't expect financial freedom just like this. What I would suggest is work hard for something and try to get your payments in bitcoin, this will make sure you are investing 100% in it and when the price goes up you'll get benefit of that.

That 2 last question I always hear many times here, and I always get and read the same answer for that. Again, it depends on you, sometimes The financial freedom is not as freedom as we think, we still need an exact rule to implement so as not to overdo it, So, Bitcoin is free, it can be owned by everyone on every country, there is no limit even if a government country prohibits it because you can still own it by custody wallet where you own the private key. And, if the government really watches it, you can still use decentralization exchange to pair fiat to bitcoin.

I would understand if the banking procedures that cause too much hassle to their very own depositors are done solely for the sake of security, for the sake of protecting their clients' hard-earned money. The problem is that they aren't. You are even charged a fee for not keeping a certain amount of money in your account, and when you withdraw, you are also given a limit. That's ridiculous! And look at all the banking fiascoes happening in different parts of the world. You must have also heard of the current banking crisis and how those collapsed banks are giving their clients sleepless nights.

In my opinion, if we only have 1 bitcoin, I think it will be difficult to get rich, unless in 2023 or 2024 the price of bitcoin rises to 10,000,000 dollars. and we sell btc for 10,000,000 dollars. then in my opinion it can be called Rich, just by having 1 btc.

but getting rich is everyone's wish I hope we all get rich from investing in bitcoin.

If we think globally, than owning 1 Bitcoin wont make person rich in 2023, in in later years. The main reason why I think so, is that our life nowadays is so expensive, that just 1 Bitcoin wont be enough to become rich. People expect Bitcoin price to reach $100k by the end of 2023. Today, $100k isnt enough to be considered rich. In some countries plumbers for example earn more annually. And if we take most poor country, then a person that owns $100k wont live there and move to more expensive country. And there, $100k can be not enough to feel rich.

First, if you can afford to buy 1 whole bitcoin and still be very comfortable with your life and day to day expenses, then why not?, owning 1 bitcoin has the potential to indeed give you a life of financial independence, imagine buying 1 bitcoin now for $30,000, and keeping it for a few years, or for as long as it takes to sell it at $70,000, $80,000, or maybe $100,000, this is more than enough money to give anyone a head start in life, and this prices are very possible for bitcoin to attain, it can only take time, and the investor must exercise patience while holding.

Only a few people had owned 1 BTC (or more) and perhaps, they are rich already. But if you are just an average investor and are owning now 1BTC due to continuous buying of it, you really make yourself rich, especially if you still hold them until the next bull run which is probably 2 years from now. But if you just buy 1 Bitcoin at $28,000 and then sell it at $29,000 - you're not making a huge profit from it, it was just like getting your money back into your pocket.

As I said, no one forced us to deposit money in the bank, it was all voluntary, and if voluntary, they had to follow the rules set by them. If you don't like it, no one is forcing you to play with them, banks are also business companies and need to be profitable, and no one works for free. Just like we are using the forum, we need to follow the rules of the forum.

Yes, I have heard about the banking crisis, and that is also the reason Satoshi created bitcoin after the 2008 crisis. But nothing is 100% safe, even if you hold bitcoin, you are still at risk of hacker attacks, and rare incidents...And you have to agree with me that no matter how bad the bank is, we still need it, and it's never going to go away. I don't advise or say that using the bank is the best, but I won't deny and won't badmouth it because we still use it every day. Bitcoin is a better option than a bank in many respects, but banking is still necessary for us.

It contains a number of points depending on how you want bitcoin to look like. If you think financial freedom is:

• You're rich and can buy anything you want, so increase your bitcoin amount. I'm not going to conclude 2023 1 bitcoin is enough for this goal as we are still finishing quarter 1.
• You're free to buy anything without excessive regulatory intervention, so use a decentralized way for each of your transactions.

Basically, whether a person is rich or not depends on how much his living expenses are. Generally, when you have an income that is higher than your needs each month, you are already classified as a rich person. But on the other hand, some people may think that being rich is only when you have lots of money, possessions and a luxurious lifestyle, but that's not what it means to be rich.

I don't think owning 1 bitcoin will automatically make someone rich in some developed countries, but of course 1 bitcoin will make you rich if you are in a poor country. Rich is very subjective in different countries, when you have 1 bitcoin, you are not rich in Qatar - but 1 bitcoin is very valuable in many Asian and African countries. But I understand what the OP is asking, 1 bitcoin will be worth a lot in 2023 but won't make you rich in some countries.

My first question to you is what is financial freedom in the context of your country, her government and people?

My second question is do you have financial goals?

See Bitcoin is whatever you make of it. If you approach it with the right mindset then you'll be happy but if you approach it with the mindset that it's a get rich quick scheme, then you'll be sorry for yourself. Never do Bitcoin alone. Diversification of your investment will make you achieve your financial freedom quickly.

Being rich and poor have got different definition. For some people having daily food is rich, because 10% of the population is living without food which means trying to fill the stomach with water or something out of the waste. Around 29% of the population is living with the insecurity of food, which means people don't know whether they'll get food for tomorrow or not. So, what you call rich needs to be defined so to make calculation with one bitcoin.

With the common calculation, in today's price single bitcoin could make a person rich. In my country one can have a small house and invest a small part with which he can get a small income. Wirh the remaining he can start a small business and lead his life fulfilling the needs of the family of four.

Depends on your approach. If you can use the knowledge as good as other successful people, then you can achieve it for sure. But just seeing them being successful, don't think that you can become just like them if you follow their strategy and it will happen overnight. It's a long journey and if you have the will to sail that ship for that long, then the answer is yes. If you are going to get panicked and fall over your emotions, it's not for you. Hope that answers your question.
Yes it is possible and this is the main purpose why Satoshi has created Bitcoin in the first place. Financial freedom in the context of Bitcoin refers to the ability to securely and independently managing your wealth through decentralization, without the need for traditional financial institutions or government control. It allows privacy and control over your assets. There's an article about it. You can read it here: What Is Financial Freedom? (https://beincrypto.com/learn/financial-freedom-definition/)

We know that there are places in the world on which accumulating even just 1 BTC is already a tough challenge to be done which is something that you cant be able to accumulate in a short time.
Due to lack of income capability which saving up on accumulating 1 whole coin would really be a tough challenge.This is why this is really that very situational if we do speak about being rich.
We arent that blind not to say that we are already that rich on the period where we do able to accumulate 1 BTC.It might be small into other places in the world but it is really that
too big in other places or corners.

In my country, with 1BTC, you will do things as you mentioned: you will have enough money to buy a small house for 3 to 4 people and will have some capital to start a business. And that's not going to be called being rich, it's just getting us out of poverty. So 1BTC cannot make anyone rich even if you live in an even poorer country.

True, in our country, someone with one bitcoin is considered wealthy, even if we don't know how he obtained it. For me, a person who earns Bitcoin via hard labor is actually richer than a guy who earns Bitcoin with his parents' money. Bitcoin has immense worth, not in terms of price, but in terms of what it represents in the crypto space. So, if the price of Bitcoin falls significantly and there is a chance that I can afford it, I will surely buy it.
And, unless there is an emergency, I would prefer not to sell it even if the price is excessively high. Because, in my opinion, if 1 BTC is lost even little, he is not considered rich anymore.

Feeding the family as a breadwinner is the core duty of every mature minds and fitting in that shoe won't be an easy task to handle. Bitcoin is ranked first when it comes to crypto related top projects. Been in possession of 1 Bitcoin would change your story, you will drive a nice flashy car, own a house and also anticipate in a business inother to keep the money flowing in. But owning 1 bitcoin during the bear seems like a loss because there will be limited number of things to do with it. Unlike the bull period where you can purchase whatever things you want in a store.

1BTC is equal to 1BTC no matter what condition the market is. Because as long as you are not selling it when it dumps, you will never incur losses.
So, if you have 1BTC in your wallet, you already consider yourself rich compared to those who are holding just only 0.1BTC. But it doesn't mean we have to keep 1BTC forever as it only gives us profit if we sell them.
Buy, hold, and sell - this is how the crypto space works. Invest more, so we can earn more, like doing in real estate as rich people keep buying low and selling them high.

actually owning 1 bitcoin is already consider to be rich as  you (as of this moment) are holding more than 30k usd in which in 3rd world country considered to be rich.
but if you are asking just this year and not telling us when did you purchase that bitcoin? then the answer is uncertain.
though if this amount of bitcoin is purchased back then when the price is below 10k then indeed you are rich today and even the whole 2023.

How concerned are all of you about the exchanges facing lawsuits vs the government?

Binance and Coinbase are under serious attack, which I always expected to happen. If/when they go down, how large would the impact on BTC value be? FTX's collapse caused a 25% drop in value overnight, from 20k to 15k at the time.

And clearly it is not an option to hold any BTC on any exchange. BTC on an exchange is like an egg in a nest, with an eagle (the government) flying around it.
Soon they will attack

But that 30k dollars of wealth that we hold now, is about to be evaporated through hyperinflation as soon as the fed starts another round of quantitative easing.
In any possible scenario the federal reserve will end up devaluing our currency because printing loads of money is the only way they can keep the banking system alive.

We can only run to BTC or precious metals as stores of value.
And when the crisis really hits its peak, precious metals will no longer be available due to high demand.
I believe that this peak of the crisis will also be the moment when exchanges are closed via regulation (the current lawsuits), leaving people no choice but CBDC's and devalued currencies. At this point the government's confiscation of wealth and their introduction to monetary slavery will be complete.

Holding one Bitcoin is a lot of money for me and that Bitcoin can be invested and used to make more money at the long run since Bitcoin Vue keep increasing everyday. If I am given one Bitcoin, I think I will have to use the money carefully in a way that I will invest some in altcoin and use some part to do physical business that wi yield physical money to me while holding some unit of Bitcoin.
The price of Bitcoin is still raining from $28k to $30K and if used in a good way would yield more Bitcoin to us. Someone holding one Bitcoin is a rich person and could multiply the money to give 3 Bitcoin if used in an appropriate manner.

I agree with your opinion, indeed now BTC is in the price range of 30,000. and
lots of investors bought btc when the price was 20000. some were even below 20000. like 19000. surely now they are getting big profits.
and in my opinion also investing in btc has the potential to get rich let alone holding btc for a long time like 15 years.

The impact of the exchanges can have over the price of Bitcoin has mostly to do with the access to liquidity and nothing to do with flaws within the network/protocol.
The traders demand liquidity and if Binance/coinbase cannot longer provide it, the demand will make new providers to appear in the market, the dips which could be caused by closures are temporary, since the Bitcoin supply and halving schedule would continue to be unaffected.

It would be painful for the market, but it can be solved. On the other hand, I agree with you: no worth it to keep most of the coins in those accounts.

PS: No financial advice whatsoever, just my opinion.  

Most are civil and government lawsuits that only require Coinbase or Binance to pay fines and comply with the law. That won't cause any effect on the market. You are too delusional because CEX will never disappear from the market, CEX is the only door for governments to enter the crypto industry to regulate us all. What the government is trying to do is control us.

No matter what country you live in, in the current context, you cannot write your name on the list of riches with one BTC.  Now the price of one Bitcoin is around $31$. Let's assume that by the end of this year, one BTC will be worth $60K. If you convert this $60K to the local currency of your country, your life will not be single with the amount of money. But I think you should never think that you will become rich with one BTC. 

Bitcoin is what you choose as your freedom. And use that one btc in different businesses without throwing it away.  And try to earn money with that money hope one day you will be a successful person.

Yes... and no.
There are many factors into it.

Where are you living? In a first world country, 1 Bitcoin is very small as prices are way expensive there compare to those in third world countries. I live in a third world country, and I can say that it might make me rich.. or depending on what really is the definition of rich.

Speaking of rich, what is your definition of being rich? Does you having 1 Bitcoin make you feel rich already? Does having you lots of money make you rich? I mean the word rich has a very broad meaning, and it all depends on the person on what his definition of rich is. As for me, my definition of being rich is that "having lots of money with a stable source of income - both passive and active."

Yes Bitcoin can help you to give a life that you want. However, it will not as easy as you think it will, and TBH, 1 Bitcoin isn't enough for you to achieve financial freedom.
Let's take the definition of financial freedom on one website: LINK (https://www.thebalancemoney.com/what-is-financial-freedom-5208504)
I will base on that definition of Financial Freedom. Will 1 Bitcoin enough for you to support your dream lifestyle? For me who is living in a third world country, 1 Bitcoin is enough already to support my dream lifestyle, but I will not just simply hold 1 Bitcoin and let it support my lifestyle, but I will use it to buy stocks that will give me annual dividends. In that way, it will be the one who will support my lifestyle, and that's my definition of financial freedom.

Now I don't know how your lifestyle is, and what are your monthly expenses, but depending on that 2 factors, 1 Bitcoin might be enough for you to achieve financial freedom. Now it all depends on you on how you will use it to support your lifestyle. I already shared mine, and I hope you can get some strategies here for you to achieve it.

This would be entirely depends on how you define "rich" but if you do have the money to buy 1 Bitcoin, you're definitely not poor but not rich either, maybe in the middle. Also, owning 1 Bitcoin could not make you rich if you don't know how to make your profit circulates so you could have more. It is important that you know how to manage your money, because even if you have like $1M and you have to knowledge on how to make it grow, your $1M would vanish in no time because of unplanned spending.

We have third world countries individuals on the forum and that $60k is worth millions in their country. After they convert the Bitcoin to their local currencies, they don't have to spend all the Bitcoin. They can reinvest in other things that can make them rich.

Or they can continue holding the Bitcoin until it increases higher in price, Bitcoin is predicted to reach $100k in the next bull market and with $100k in some of this countries is a very big money that they can be called millionaires.

But I don't think we can achieve this in 2023, it'll take more than the end of year for Bitcoin to increase to a good amount to give us good profits, we have to wait for the bull market to come before we can estimate how high Bitcoin can go.

While owning 1 Bitcoin in 2023 can potentially bring you substantial financial gains, it's difficult to say for sure whether it will make you rich. Bitcoin's value is highly volatile and subject to fluctuations, influenced by various factors such as market demand, global events, and regulatory changes. However, if Bitcoin continues to grow in popularity and adoption, and more institutions and businesses start accepting it as a legitimate form of payment, the value of the cryptocurrency could increase significantly, resulting in substantial profits for those who hold it. Ultimately, whether owning 1 Bitcoin makes you rich in 2023 will depend on the market conditions and how the cryptocurrency ecosystem evolves.

Depends on where you live, if you're from my country which is considered a third-world country then that can be considered rich in some cities especially provinces but if you're in Singapore or somewhere that has a lot of rich people and have a huge personal spending per person then probably you're not considered rich with just 1 bitcoin.

I come from a 3rd world country, and if to compare the cost of living in my country, $100k is still not a millionaire. That is quite many money for you to do many things, but becoming a millionaire is impossible.
We all invest in bitcoin to have a richer life, which means a better life than the present and past. But we can't expect investing in bitcoin to make us millionaires, or billionaires, it never will. Unless you have millions of dollars invested in the first place. Bitcoin is not an asset that can increase x100, x1000 for us to become millionaires.

The issue with that is that you will have a hard time to reach one bitcoin in a third world country and in Singapore it is quiete easy to reach that amount. So if you want to invest one Bitcoin in your country you already need a fortune to begin with which will make it hard to invest from the beginning. I think in a 3rd world country you can stick with 0.1 bitcoin and have a very good profit if Bitcoin rises.

There is no doubt, this is bound to happen, and it is happening right now. You don't need to doubt, and neither do we need to worry about it. The important thing that we should care about is how much bitcoin we will own until the whole world accepts and uses bitcoin. Because owning 1 bitcoin today is difficult, and if you do not take advantage of the opportunity, owning 1 BTC in the future is even more impossible. Owning 1 BTC in 2023 may not bring us wealth yet, but in the future, it is very likely.

Yes, it's already millions to them and you should be rich enough before you can able to buy a whole 1 bitcoin but since a lot of us here doesn't have that much privilege in life, what we can only do is to buy it by fraction with the hopes that we can buy as much as we could while the market is still red. And maybe that bull run will happen after the bitcoin halving which is somewhere mid 2024 to early 2025 because as of now, there are no signs at all that the raging bull is coming.

Anyway, back to the OP's question, 1 bitcoin is not that enough to make you rich or sustain that status as you need more than that. No need to rush OP, just hold it until you can because somewhere in the future, a whole 1 bitcoin will be worth 6 digits in US dollar.

I think that the question is not correct if Bitcoin can give you the life you've been dreaming about since you were a child. Bitcoin is just one of the solutions or instruments that can help you achieve your dreams in life if you know the right way to use it.

There are many ways for us to achieve financial freedom, now you just buy from them which one of them. For example, if you believe that Bitcoin can be the key to your dreams, you cannot just believe in Bitcoin, you must know how to have Bitcoin. And for you to have it, first study and find out what it is. how can this help you? Why is it favored by well-known businessmen? these are just some of the examples you should know.

For me it is a yes because it is one of the best investment nowadays because its price is keep appreciating unlike if you just hold your dollar and save it in the bank wherein you may experience some losses rather than profit. 1 bitcoin is now around $30,000 and it price is keep pumping and remember that we are still in the beginning of the bull market so there are more room for the price to grow. $30,000 is something you cannot just pick up in anywhere and for me it is a big amount of money especially if you are in a country with low minimum wage.

If you are talking about financial rich then I can agree that you can be rich by just having 1 bitcoin. The price may go above its current ATH around $60,000 so for me the reward is really great if we own just 1 bitcoin. There are many people who are still not making any investment in bitcoin and my advise for them is they should now start making investment on it because the potential rewards that they can get is so big. My friend recently put money on bitcoin and he chatted me this past day and he said that he is really grateful and he did the right thing by following my advices because he is now up with his investment.

If you even have lesser than one bitcoin from what you can invest is still ok and fine, that's not too bad, it depends on the level of our understanding of how we make things work out for us as expected, but if you can make a good number of investment base on your capacity, not by the quantity or rate but the understanding of when to invest and how to monitor your investment, it is profitable only if you know how to invest and speculate.

You could not because nobody asked you to do that and announce that you own 1BTC in the first place. Perhaps, you believe in yourself that you are rich already and no need to tell others that you are rich. Unless you really wanted to grab attention and praise your achievements. But I don't think it was a great idea as you are making yourself a target to other people.
Meaning, you convert your Bitcoin into fiat money and start a business. And it means that you are not a Bitcoin investor anymore.

Owning one would simply give you profit no matter what year it is, if it is possibility as the bottomline. Bitcoin has a limited supply and if demand would continue to increase, same thing would happen on its market value, meaning, profit. Making you rich? Depends on you view 'coz profit will be only limited to the market price of Bitcoin in this case, and if you think you could buy anything you would want to in such price as well, then you're good as rich (we have different viewpoint in the first place; some would go with luxury things to determine wealth, but some are just okay with the "minimum"). No one knows in the first place how much its value could reach, sky's the limit.

In my opinion owning one Bitcoin is enough to transform your life, if you manage it properly. If I would have 1 Bitcoin, I will hold 50% for long term and wait for its price to reach $ 1 Million. While it it seems a dream target, however Bitcoin has the potential to achieve such heights in coming years.

As for the remaining 50% Bitcoin, I will use my technical abilities to increase its quantity through swing trading.

The view of being someone who is rich with only 1 Bitcoin will definitely vary. Try asking Elon Musk if 1 Bitcoin makes him richer?
of course, the answer is definitely not, 1 Bitcoin is only worth $30k at this time and this is still quite far from being rich.

But if 1 Bitcoin continues to be held until it reaches a higher price, let's say it can reach a new ATH above the price of $100k it will have a more expensive value.

Luxury onions may be obtained by selling some Bitcoin holdings, but it depends on each person.
There will be a maximum and minimum limit on the valuation of wealth.

One can even be rich with 1 Bitcoin or can be poor for holding 1 Bitcoin because buying at the top price and then selling at a loss, would be a stupid mistake and also to panic.

I am SN I currently own 1.3 million coins and I am not a troll nor am I dead but here is a link to the genesis coins being moved on the blockchain as proof in case you do not believe in me...link here https://www.blockchain.com/explorer/addresses/btc/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa

If you are still a child and thinking about investing in Bitcoin, I would like to congratulate you as you are on the right path. Bitcoin's price has risen a lot since its inception, but that doesn't deny that it will rise more in the future, and that's due to many facts, one of which, Bitcoin is still unknown for a large portion of the world's popularity. The second fact is that companies have just started buying it after it proved to be a survival boat. In addition, the market cap is very low compared with other investment assets, so the potential to grow is high.
Regarding the amount of Bitcoin needed to achieve financial freedom, I think 1 Bitcoin is a very reasonable amount, even at these prices, because $30k isn't an affordable amount of money for everyone and it's a lot of money for most of the world's population. Therefore, if you managed to collect 1 Bitcoin, I believe you would be rich. Maybe not this year as the bear market is still in play and the world is experiencing a financial crisis, but for the next 2 years, Bitcoin is one of the best things to invest in.

Investing a full 1BTC bitcoin is not mandatory. you must first understand the risks of Bitcoin investment. and then decide how much investment you can afford. and then that should be your investment decision
Bitcoin is a decentralized digital currency.  So it will definitely give you financial freedom.  Meanwhile you can control as you wish where there is no limitation. But if you use fiat money then you can face various restrictions and bans from banks for more money and transactions whereas Bitcoin gives you complete freedom.

Depends on where you live and how much stuff is from your area. For instance, in the Philippines 1 bitcoin is a huge amount, and there's a huge chunk of the population in that country that had never earned nor will ever earn that much. But in the states, you'd probably get laughed at for flaunting $30k.

Point taken. Profit is profit as the copium huffers say. Although there's some truth to it. It's better to bank on and invest today rather than wait "Until the market's better" and completely miss out on important pumps and dips.

Having a 1 pc of bitcoin can make you rich of course because here in our country having that will consider you as one of the millionaire but then it is better to invest it so it can multiply but then we should know what we are doing because in a moment we can lose btc, when you are starting here in crypto it is kinda hard to get it if you have a limited amount of invest.

It is really difficult to say if you with 1 Bitcoin could be rich. Mainly it depends from what do you live. If you live in USA/Switzerland/Germany ecc. 30k dollars is not a big amount (also if we suppose that Bitcoin could reach

50k dollars during this years, 50k continues to not be a big amount), but if you live in some countries like Bangladesh, maybe 1 Bitcoin could be a life change for you. The only advice that I can give to you is to start to

work strong immediately and earn your first bitcoin as soon as possible, halving is near !

But when it gets to 100k, it will likely happen because the federal reserve has turned on the money printer and 100k in 2025 will have the purchasing power of 30k a few years earlier.

BTC is a hedge against inflation. It protects the value that people posessed before the inflation. But I don't know if it makes them richer

My personal opinion about financial freedom from bitcoin is to avoid third parties as a depository and money transfer service that I have, avoid bank monitoring, payment for deposit services every month or year if I keep it in a bank, transactions that take a long time especially if want to make transactions with friends who are abroad, and I fully control the ownership of my money if I save it in bitcoins.
if I keep it in the bank it will be easy to detect the money that I have by the government and can be subject to wealth tax fees every year if money that meets the standard of excess wealth is required every year to pay even though I keep the money in the bank, the last one is the problem of inflation which makes my money less valuable if I keep it in the bank for a long time and many more.

Yes bitcoin can make you rich but if you have some knowledge about it and you avoid short term trading. Actually financial freedom will achieve only when you have to manage your money by yourself and you will be the owner of your money there will no other who can control it like that of government job where the control of salaries are in the hand of government but in the case of bitcoin you will have your own control over it.

If you owned just one dollar of bitcoin and hold it for prolong time you will achieve the best results because first a person should start investment with a minimum amount. Bitcoin can make a person wealthy and rich but the thing which is must is the active mind and knowledge of better time to take decision.

Receiving one, Yes you can change your life depending on how will you manage the 1 bitcoin you have in you wallet. There are so much opportunity in this crypto space where you can use a part of your one whole bitcoin to create more profit. This way, you can sustain and recreate your one whole bitcoin and aim to wait for your dream $1 million in value and you still have money to make a profit in crypto currency. Moving smart and efficient is a must if you want to be rich, You can't be really rich by just doing nothing but waiting unless you are one of the earliest person in this space.

Bitcoin to make you rich is sure, but not get rich quick, as you can see that technology or digital currency has come to take over, which is Bitcoin is the number one among the cryptocurrency industries, which holding 1BTC can make you rich as long having patient holding for a long time investment.

To begin with, there is a plenty of people who are destitute and struggling with financial troubles but unfortunately the majority are not investing in themselves and they are not even looking for different ways to change their lives. In fact, I advise you OP to improve your personal development skills , it could be by reading and learning the business field you are into due to it is very essential nowadays to find multiple sources of funds instead of borrowing and drowning in debt and investing them in un guaranteed profit.

Furthermore, purchasing a large amount of Bitcoin will definitely make you wealthy depending on the quantity and your investment strategy , it is preferable to be a long term one due to current situation of market is kinda unstable despite we have seen a nice progress in previous days. However, buying 1 btc is not enough to make you rich and financial stable. For me, I would rather gain Bitcoin by doing some freelance jobs instead of converting my cash into it.

It's understandable that you want to achieve financial freedom and have a better life than what your parents had. Bitcoin can be a tool to help you achieve that, but it's important to remember that there are no guarantees in investing.  Financial freedom means having enough money to cover your expenses without relying on a 9-5 job or anyone else. Bitcoin has the potential to provide that kind of freedom, but it's not a guaranteed path to success.

In the country I choose to live in you buy a little more expensive food you are already rich.  ;D

If you are in financial difficulty, you should not use cash to invest in bitcoin because life needs should still take precedence over bitcoin. But if you're financially stable and have more than one savings, there's no reason not to convert your money into bitcoin. Holding too much cash or fiat is also not good for you in the long run, as inflation will eat away at your money. I am the opposite of you, I like to invest my money in bitcoin because I can be proactive with my money.

Money should work, this is true, if you manage to create capital, then you need to learn how to make it work and bring you income, ideally bitcoin should not be your only investment, try to distribute this money in several directions, this way you will protect yourself, since assets will be diverse and if something happens to one, then the rest will continue to work and generate income.

If bitcoin is a long-term investment, then some object that you rent out will bring you a monthly income, these will be diverse investments.

1 Bitcoin is expensive and if you hold it just for a few days or a month, you better not buy that kind of huge amount, instead just buy some small portion of it because you never know what will gonna happen and we are not in the bull runs season yet. Meaning you will experience a decrease in the price most of the time and if the money you used to buy it is needed to buy something, it will cost you a lot because sometimes the price will from 30% in just a matter of an hour and will recover after 2-3 months sometimes after a year. So be careful when making decisions like that unless the price of 1 bitcoin is nothing to you.

That's right, the risk remains but the chances are too high that this is the right tool that someday will make someone financially free. But in able to achieve financial freedom, there will be a lot of things to be sacrificed for an individual to achieve it.
And one of them is to be disciplined in money management, frugal living, and able to save as much as he can. Also, avoid those late-night parties and nonsense subscriptions.
Those are just a few of what needed to be sacrificed for someone to achieve financial freedom because the money that will be spent there needs to get into an investment, into bitcoin and that shall give the confidence for someone who's aiming this goal and that's not impossible.

I think you should read the history of BTC origin, because back in 2008, there was recession and people faced hell lot of difficulties. If you were not in your conscious state in that time as i were not, because i was only of 7 years old.

You should read this (https://en.m.wikipedia.org/wiki/2007%E2%80%932008_financial_crisis) brief explanation first. Secondly, You Should read this (https://bitcointalk.org/index.php?topic=5187275.0) thread, in which you will understand why there was a need of currency that could provide financial freedom to middle class people because in 2008's financial crisis, the most effected category of peoples were middle class.

So, yes. BTC is a currency of financial freedom and you can make hell lot of money by acquiring BTC but in the long run. And you also asked if you acquire 1 BTC than can you become rich i must say, every person has different perception of richness some consider themselves rich at $50,000, some at $100,000. Everyone has their own richness level. I do not get to know what's your richness level but i can tell one thing that, at most Bitcoin can go for forty to fifty thousand dollars.

Now see for yourself that if your wealth level is in this range then you are rich otherwise not. But in the long run BTC has great potential to cross $100,000 easily. But it's not a financial advice you have to do your own research.

Well, it basically depends on where you live and how much money is considered rich in your country/region. The definition of being rich is probably different for different people living in different parts of the world, so it's not really guessable if a person will be rich by having a certain amount of money if the place of their residence is unknown.

And financial freedom doesn't only mean having a lot of money, especially when it comes to Bitcoin. Financial freedom also means that you are totally free to spend your money anywhere you want without any restrictions or problems or being questioned by anyone, and by anyone I mean a central authority.

That is huge and I think this will take more years also being a millionaire is depends on the country you are in because 1 Bitcoin with the current price right now is already millionaire on us and it is pretty huge money and we can be called rich but those in first world country it is still not a millionaire, so still it depends what country you are in.

First I would like to answet the title of this thread: Yes owning 1 Bitcoin can make you rich, but it depends on which country or the average cost of living in your country would cost.
Yes crypto could give you a better life but it would always depends on your skill as a trader or investor.
I guess we all have different definition of Financial Freedom, for me Financial Freedom is when you don't need to worry about everything financial you are living a comfortable life where you could pay your bills eat food that you want and also have some savings and investments.

To really know if you are rich with a bitcoin, you need to be able to compare the average income in different countries :

According to the following statistics and if we consider the price of bitcoin at 30,000 dollars, this represents 2.84 months of salary in Monaco and 857 months in Madagascar (71.42 years). The average life expectancy in Madagascar is 65 years, so this represents a lifetime. (but peanuts in Monaco).


https://www.donneesmondiales.com/revenu-moyen.php

You will need a bit more patience than the remaining 7 to 8 months of this year for Bitcoin to make you rich. Bitcoin can definitely make you rich, but not in the time frame that you are hoping for. In my opinion, it will take up to three more halvings (my projection is two, but lets be conservative) which will take around 8 to 9 years to be able to safely say that 1 BTC will make you fiat-rich. This does not include the rise in cost of living until that point. It is possible that owning 1 BTC might make you well off in that period of time, but after converting to fiat your purchasing power will be similar to what it is now. No one can say for sure on that matter of inflation and the fate of the economies during this period of time.

To give you a healthier perspective, think of Bitcoin as a lifeboat. Not a rocket ship. Unless you are constantly growing the amount of BTC you have, you shouldn't rely on 1 BTC to give you a luxurious lifestyle and eternal wealth.

It's possible to make you rich in bitcoin but that is not a quick rich, you should wait and wait and lastly wait. Bitcoin is a long term investment, you'll just need to be patience and when the time has come and bitcoin reach over $1 Million then don't hesitate to sell it. Its hard to hold a bitcoin and you're financially difficult because like what i said it's a long term process, you can't have a instant profit in bitcoin so it's useless if you invest your money in bitcoin then the other day you sell it because you need it for your daily life. You need to be financially stable just to invest a bitcoin and when the time has come, you will be rich no matter what happen because I or we have hope in this cryptocurrency blow up.

If thats how you define 'rich' maybe some are still consider themself as poor or average. If they are they comfortable in life, they buy the things they like and they are happy with it, they surpassed what they call rich people. Also if they are planning to hold this 1 BTC they can get a higher or lower price, its the owner risk to take. Like ETH, BTC is also worthwhile long-term investment. However, they are extremely volatile. That means large price movements over short periods are common.

This 1 btc can also help you to try other investment not only Bitcoin. What I mean is in real life investments.

So if you are millionaire, then you are rich? You are trying to say that if you have million dollars worth of Bitcoins then you no longer will work and try to earn money? According to me there is no limit to a person’s hunger for money, so no matter how much money you have, you will still wish to make more. Yes this year Bitcoins might hit a new ATH and might cross 100k. I also know that for many people this won’t be sufficient, hence I would suggest everyone to accumulate as many Bitcoins as you can and hold the coins for atleast 4 years. Then only you can see huge changes in profits.

In my opinion it is wrong to give a value when one could try to get 1btc=1btc and I will never stop saying this, even if it would not mind to see bitcoin over 100k it would be a good revenge for those who throw mud in the face of btc.

Imagine all those guys who bought a Lamborghini with all of their BTC profits in 2016.
If they had kept the BTC until 2040, they could have bought 300 Lamborghinis and 10 mansions in New York City.

From what you said here.... Buying 1 btc literally means you're rich..
But note this... You can buy BTC with lesser amount of $.... BTC is volatile in price movement.. so the assurance of making reasonable profits is clear.... Only for long term investments... Don't expect an immediate turn up.. you might get disappointed...

If you can count 30k-40k levels as being rich it can OP. But I think for someone to call himself/herself rich, I think he/should have at least a million dollars. 1 Bitcoin can't hit a million dollars in couple of months time for sure. But I can assure you that 1 Bitcoin will make you far more richer in 2014, it will definitely hit 100k in this halving period. Last bull run from 15k to 30k was very enjoyable period of small time profit making, real deal will happen next year in my opinion.

Yes, 1 Bitcoin can make you rich in my country because 1 Bitcoin to our currency is a big money that will help you to  start a good business and still have enough money to do other things that will make your family not to lack  feeding in your home. But in some developed countries, this 1 Bitcoin will not make someone rich because the cost of commodities over there are very high compared to my country where cost of commodities are very low for investors to improve their wealth easily in the land. Since the price of Bitcoin has hit $30,000 in this month of April, I believe it will reach $80,000 before the end of this year 2023 to make many investors Rich in their various environment.

Even though the price of Bitcoin is still very low, $30k is still needed to buy 1 Bitcoin, which is still a huge amount.  Buying whole 1 bitcoin is very risky as it is profitable as well as high risk of loss. But 1 Bitcoin can definitely make a person rich.  If you buy 1 bitcoin now you need $30K and if it crosses $100k and you can hold until then you will be a rich man. here $70k is your profit.

1 btc is a huge amount for all countries.  As per the current price 1 Bitcoin is now $30k which is enough to start a small business.  Again if it exceeds $100k then it is possible to start a big business with this amount from where it is possible to earn millions of dollars.  And if a person wants to reduce unnecessary expenses, he can spend his whole life with $100K. So it can definitely be considered as a wealthy state. so it can definitely be said that 1 Bitcoin can make a person rich

If your definition of rich here is "having a lot of money", then with 1BTC, it is likely that you will become rich in the next 3-5 years.

However, there are quite a few perspectives, and I believe that money alone doesn't make one wealthy.

Most of us want to become rich but it is not recommended to put all your money into bitcoin just because of your dream that this currency is the one that will change your life. We still need to work harder and look for more streams of income in order for us to have enough savings and allocate some of it into bitcoin and other assets.

Owning 1 bitcoin does not make you rich in a short time. Maybe it will in the long run. But if in case you will sell it now, it is enough for you to do a lot like starting a business.

It is true that having substantial amount of wealth can bring financial stability but as you said you should be able to spend it to buy goods and services without any restriction. However it is important to note  authorities in almost every country question source of income when they discover huge sums of funds in bank accounts. Additionally, paying taxes on spending is a national obligation and it is mandatory in most of the countries. Therefore, every individual must comply with spending limits of the respective country of their residence.

Currently the price of one bit is fluctuating between $30K. If $30K is converted into our country's local currency, no person can be considered rich for that money.
If he owns $30K, he is not considered rich, but with this $30K, a man can include himself in the list of rich people if he wants. The reason you mentioned here yourself. 

If the Bitcoin market touches $80K by the end of 2023, then converting 1 BTC will make him a rich man. And later he can use that money to take himself to a much bigger position.  But now anyone who owns one BTC equivalent of Bitcoin is literally a rich person.