Bitcoin Forum

I've seen these websites and marketing pieces
offering secrets to becoming a bitcoin millionaire.

Here's the surest way:

Step one:  buy 100 coins now.
Step two:  wait for price to go to 10k.

This might be your last chance to do it.

hmmmmm too many complex steps in this for most people to follow. Should make it a one step process.

Here is a simple change.

Step one: buy 1924 coins now.

boom bitcoin millionaire.

You could become a millionaire much quicker by doing technical analysis. Buy at the right time and sell at the right time.
You need to be super smart though to be able to do this profitably.
Plus you might get eaten by exchange fees.
I still think it is a better strategy then buying and holding but unfortunately I personally am not smart enough to do technical analysis.

Bitcoin is not a very technical market because the market depth is low.  Generally, technical analysis works and is valid, but you are only right 60% of the time if you are good (otherwise there would no one willing to take the other side of a trade).  Always a balance between risk, reward, and certainty.  Trading is about exploiting a small edge consistently over time. It is difficult (or else everyone would be a rich trader).

That's why I said the SUREST way is just get in now while it's cheap with enough capital.

There are no guarantees of course.... Bitcoin could end up becoming a Myspace, replaced by something that becomes much more widely adopted. For all we know it could be NXT, or something that hasn't even come along yet.

True.  If it was 100% certain that Bitcoin was going to the moon, it would already be there because everyone would try to exploit the loophole as long as it was open.
 

100 bitcoins looks a lot to many people so maybe this:

Step one: buy 10 bitcoins now.

Step two: wait for price to go to 100k


Yes, only like 10% of traders are successful traders.

sadly i don't have a spare 52k to buy 100 coins.
Neither do i have a spare 5.2k to buy 10.

can you buy 1 coin? :)

step one: buy one coin
step two: wait for price to go to 1 million USD

lol


but in all seriousness... if you expect price to hit 10k or even 100k.. get another job to try to buy in as much as you can.. assuming you cannot currently afford to buy in.

lol... here are the options.

1. Buy BTC1 from any of the exchanges. Wait until BTC crosses the 1 million mark.
2. Go to primedice.com. Try your luck with the 2000x dice game and input BTC1. If you are lucky, you'll win BTC2,000, which is worth $1 million at today's exchange rates.
3. Invest BTC1 in some of the crypto stocks, and wait until they give you a 2000x return.

1 BTC = 1 million usd. Really?
I hope to win a raffle with a price of even .1 BTC with that. :D

There are a lot of ways to earn btc as well. I don't have the wallet to buy a bunch but I have managed to earn some. It is the long road and takes patience but it can be done. 

ie bump off a bitcoin millionaire..is the only option I see at this point
swipe his usb drive

(ducks..hey don't throw stuff in the forums!)

Searing :)

I have a few coins, between 1 and 10.

then wait till bitcoin is big..between 1 and 10 trillion $ market cap :)

That's not true at all.

If it was 100% certain that Bitcoin was going to the moon (spoiler: IT IS), _AND_ if 100% of the human population was intelligent enough to recognize this fact, Bitcoin would already be at the moon.

The problem lies in the second half of the sentence above. Most people don't even know what Bitcoin is. A far smaller percentage of the population has the pattern-recognition skills needed for certainty.

I am, and i also sometimes trade a bit and also i plan on buying more with the money i have left over each month.

Ron, you have any suggestions on sites?  I use one faucet site that has been awesome.  But I know there are more.

this one is quite nice (https://www.landofbitcoin.com/?r=AKPxkfbH1pmSmGgI)

If I could afford 100 bitcoins I would gladly pay for them. Been here for almost 2 years now and I only have 2. Poor college student is still poor college student.

A coin a year, you my friend are not working hard enuff, even all the crap faucets would pay out 2btc in a year i bet.

You have some time on your hands, see https://bitcointalk.org/index.php?topic=525183.0 (https://bitcointalk.org/index.php?topic=525183.0) and you'll get more  :)

kick my link at the signature. and buy hashrate there :)

I started with one of the faucet aggregation sites and sent everything to a dice site address to invest. Once I got enough in there I simply left it alone. The signature campaigns here are an even better option. If you look up dooglus on here you can find a great site to invest. Just make sure to avoid gambling your BTC it always ends badly.

The key for me is not simply to acquire it but also to grow it once I have it. I have gotten to .6 in 60 days of collecting and investing. I will be up around 1.6 by late June.      

Yup, a good and sensible plan. These things all work well while BTC is down because people are willing to give away more BTC then hope that it goes up.

Here's an interesting chart I just made.
If you were to invest $1000 every month
for the next 4 years into Bitcoin, and
assuming a 7% growth compounded each month,
here's how you'd come out:

https://i.imgur.com/ssajRQ8.jpg?1

Where is 7% based on, maybe you should use the last year to make a model on changing percentage of growth.

somewhat arbitrary...real performance in last year on average has been higher.
I chose a number that puts BTC at about 10k in 4 years.

Well another way of becoming a btc millioinare is buying 1000btc , opening up your own casino and starting your signature campaign here.

How to lose $50k:


Price actually ends up plummeting.

Absolutely a possibility!

If there were no risk, there would be no reward.
However, the savvy investor takes advantage of
their due diligence and research.

I have researched Bitcoin and see a great
value proposition whereas the general
public is unaware of it, or lacks the
"insider" information or confidence.

I have confidence in bitcoin and willingness
to shoulder the risk. 

bryant, I wasn't aware that the payout on primedice goes that high. Obviously, the odds of winning 2000x would be a little worse than one in 2,000.....hmmm... You can become a millionaire at Primdaice today!  :)

Gambling should just be for fun with extra money. The best way to become BTC wealthy is to start a business.

Who the heck would gamble a whole bitcoin on a 2000:1 bet   ???

Idiots  ;)

Wouldn't you be a fiat millionaire instad of a BTC millionaire in this case? :P

Die hard gamblers. I think primedice has a payout limit of a certain number of 10 btc or so

There is no guarentee it will go up. So far its just going down...

or just die waiting..  ???  :-\ :-\

the people who say these kinds of things
may be the same people who are later
saying "shoulda coulda woulda".

no risk, no reward.

What is "just going down"...?
Bitcoin bottomed at ~$340 and yesterday's high was ~$540, so it is already up about 58.8%, and probably heading higher.

Only if you bought in the last 6 months. Even in Bitcoins short history 6 months is a short amount of time.

The best and honest way is to accept Bitcoin as a form of payment for the goods and/or services that you produce.

Become a millionaire in BTC?
That is very hard and it's not a realistic goal.
Remember that there will only be 21 million BTC total, so theoretically, there can only be 21 maximum millionaires possible....
for the whole world?
Forget it.

Utter nonsense.


*Cough* - choke - what? 

No.

-B-

Back when BTC was hovering the 100 range, a relative sold some property and have a few hundred thousand to invest. He knew about bitcoin and I told him that It would be a great idea to invest 10 percent into btc, which would have been around 30k. He didn't do it and literraly a month later when I told him that it was 1200 he about died and blamed me for not forcing the issue.. I said "what if it went to 10 dollars, you would have killed me"

I think BTC is still a good value at 500ish, buy as much as you can, when you can, thats all you can do. The sub 10 dollar days are long gone, heck, even the sub 200 dollar days are probably over..

What he said. Safest, surest way to increase the value of your wealth is by melting shitmoney (AKA fiat) into Real Money (AKA crypto), and holding on for dear life.

People ask me all the time, "at what price-point will you sell?" and my answer is always the same: "I will never sell, I will hold onto my Bitcoin wealth until fiat no longer exists, and then carry on with life as normal."

If you're smart enough to comprehend why I'm linking this (http://en.wikipedia.org/wiki/History_of_the_Internet), you're smart enough to get filthy-rich with Bitcoin, even if you're poor.

Sell your body if you have no fiat wealth to melt, being liberated from the chains of wage-slavery for the rest of your life is worth it, I assure you.

If it was certain to go there, why would the major investors (with billions of dollars) not invest in this sure thing? I am positive they know about it already. It'd be stupid for people like Bill Gates not to buy every coin if they are that positive. Hint: there are no guarantees.

They are talking about becoming millionares on fiat, is there is the case that each bitcoin worths 10 million usd (in 2050 when bitcoin is already in 4 planetary systems), so you can be a millionare with 0.1 btc.

I love how shortsighted some people can be.

Price in November 200ish
Price in December 1200ish
Price in January 800ish IIRC -> omg bitcoin crashed! Look how volatile it is, bitcoin always goes down.
February through May -> total despair, price gradually decreased to 400ish with a low of 340ish FUD all around

A few days ago, price jumped by $100 and no one bats an eye, than the price drops by $40 and everyone loses their mind.

Look at the complete picture instead of only at the small red dots. There's much more green than red you morons.

With radical honesty one realizes that nothing is ever 100% certain (except existence itself)... But I get your point, it's the perception of certainty rather than the actual certainty.   Agree.

I will never sell either. I am "all in." The potential good this idea can do in the world is much bigger than any personal wealth I may have. 

bitcoin to $10000? not likely in the foreseeable future buddy.

no guarantees and a big risk, in everything that you offered :-[

There are no guarantees that you will survive the drive to work tomorrow. There are big risks every time you step out your door. That is what life is about. You choose your path and hope it is the right one in the end. Risk is not unique to bit coin.   

To me the risk is small... If the price flounders around $500 for a long time, nothing was lost.

I suggest you read about the history of oil (https://medium.com/what-i-learned-today/1a812f8fa7cd).

Now there's a smart - and ethical - lad.

"I can see now that the Game reflects my own efforts to negotiate those old primal categories: individual, community, nation, planet. Inevitably, then, the Game comes with an attractive lure to be nationalistic, tribalistic, and provincial. It forces students to go through the process that we all go through as adults, in which we must examine, as I had done, the local cultures we come from and the world culture we might one day join. The Game makes it clear that, sooner or later, if students remain solely within their own cultures, loyal only to their "own kind," they will put the planet at grave risk. But if they embrace a larger vision, they have the opportunity to heal the planet and create peace. Students learn, in other words, that without a total collaborative effort, no one can succeed.

Of course, it's tempting to hold to an individualistic view and pursue short-term gains. It's certainly possible, over the arc of the Game, to seem to be winning: to increase your territory and your assets; to enter into alliances that benefit you and hurt your adversaries; to expand your military influence; to amass wealth and power at others' expense. But these victories are only apparent. You seem to be winning, but you're actually losing. The Game forces you to learn interdependency. If you behave as an island unto yourself, ultimately you will be isolated. And no matter how many resources you might have accrued, the planet as a whole will not achieve the global peace and prosperity that are the Game's definition of victory."
-John Hunter

I am a citizen of the world. You can be too.

http://8tracks.imgix.net/i/001/269/213/73092.original-2131.jpg

"Nationalism is our form of incest, is our idolatry, is our insanity. "Patriotism" is its cult. It should hardly be necessary to say, that by "patriotism” I mean that attitude which puts the own nation above humanity, above the principles of truth and justice; not the loving interest in one’s own nation, which is the concern with the nation’s spiritual as much as with its material welfare — never with its power over other nations. Just as love for one individual which excludes the love for others is not love, love for one’s country which is not part of one’s love for humanity is not love, but idolatrous worship."
-Erich Fromm, in The Sane Society (1955)

"I am against any nationalism, even in the guise of mere patriotism. Privileges based on position and property have always seemed to me unjust and pernicious, as did any exaggerated personality cult."
&
"Nationalism is an infantile disease. It is the measles of mankind."
-Albert Einstein

believe best thing always come true

Wow man great advice! You should become a hedge fund manager or something  ::)

Gah, it's so hard to decide what to do. If I buy now I just know that the price will tank hard. Of course, you could say that it will bounce back and go higher but there's nothing more frustrating when you buy in and find out that you could have got more coins for your $$$.

I think that buying some coins to hodl and then placing some speculative buy orders can work out. I've lost out on so much potential coin by not buying in lower, despite the talk of this next bubble.

Hi,

maybe you can offer Services for Bitcoin Useres. Such like happy-bitcoin.com (http://happy-bitcoin.com)

If you are doing good Things . . . you might be a bitcoin millionair some day.

Greetz Emily,

-----------------
Shops, Products & Services around Bitcoins: happy-bitcoin.com (http://happy-bitcoin.com)

The last time the price was below $400 per B⃦,  was also a time when crypto currency was younger  and more unknown and there was even more risk and uncertainty than there is today.

Some of those who 'bought in lower'  lost it to Gox;  or lost the value in some other way.   So anyways, buying in today is somewhat lower risk, so less reward.

I don't expect massive growth in value of a BTC vs Fiat Units in the short term, and the current price probably reflects a bit of speculation.

It's entirely possible that almost everyone who is going to adopt cryptocurrency for a while has  ("the early adopters").

Historically speaking -- it is not unusual for a new idea or technology to quickly saturate (http://readwrite.com/2007/08/06/rethinking_crossing_the_chasm#awesm=~oFh1BXBUxgZwwb) the market of innovators, and  then growth stalls,  and sometimes dies there,   because mainstream audiences are fundamentally different than the early adopters,  the mainstream is less likely to pick up new ideas -- old traditions are strong, and new ideas are adopted at a lower rate with reluctance and risk aversity.

There are lots of theories about 1 B⃦  becoming worth a large amount of fiat.
But it's not really going to happen,  unless and until crypto currency  begins to be adopted by the average person  who is risk averse and hesitant to jump onto just any cool new idea that comes along,  and if you are waiting for to happen --- it is probably 6 or 7 years,  if it will happen at all.

For now, most chance to growth of BTC will be more early adopters coming onboard; your best bet is new startups,  banks/bankers, hedge funds/wall st. traders,  small retailers,   retailers that themselves are trying to get into the market  as a new competitor ---  in other words  they are so small, even the "innovator" / "early adopter"   markets are valuable to them --- and by offering to do business in BTC  they have an edge,  that may  get their business some new customers.

I read a story a bit ago about a guy who become a "Bitcoin millionaire" and I was curious about how the process of "Trading" occurs within banks

I'm not sure if you're referring to the process of loading funds and cashing out, but there are a number of avenues to take with Bitcoin. You can hold, or sell some for cash (hard cash, bank, another electronic source), you can trade for gift cards and buy from popular marketplaces, or you can simply buy stuff using your coins as is.

I'm assuming that if I were to amass over $20k from selling bitcoins if I were to suddenly deposit all or even in small increments my bank would be alarmed and it would probably be investigated. I don't want to end up putting myself on the radar but I would like to sell some bitcoins in the future keeping it about 50% cash 50% bitcoin but I value my privacy and don't want to raise alarms.

Yeah you're right, you would need to launder it lol. Like I say in my previous posts there are various ways.

Some might say that the solution is to not cash out at all, but instead store your funds elsewhere.

It will be more interesting to read the whole story of it. :)

How do people like the "Bitcoin millionaire" go from having an average amount of money go into being millionaires privately from bitcoins without raising alarms and hindering their privacy?

The trick is that they are Bitcoin millionaires, the millions that they hold is in held within the value of the bitcoins they own. I'm sure that they don't pull out many funds to their banks, rather that they just hold their bitcoins and use them to buy things.

yes I want to be a bit coin millionaire - please pm me. thanks.

if you buy a house they'll ask where you got the money though.

So you don't buy a house with bitcoin or money from bitcoin. Or you do buy a house with bitcoin or money from bitcoin and then explain it if/when any official organisation requires explanation ;)

Buy 100 bitcoins now then sell at 10k. Profit.

your only a bitcoin millionaire if you have a million bitcoins.

otherwise selling 100 coins at $10k in the future makes you a FIAT millionaire..

.. think about it logically

cant think logically?

how about this. by calling yourself a 'bitcoin' millionaire based on a value of FIAT you receive from selling bitcoin... makes you dumb

you might aswell hold $170k and call yourself a dollar millionaire based on the value of yuan you receive from selling dollar
you might aswell hold £100k can call yourself a pound millionaire based on the value of yuan yo receive from selling pounds

holy buying now god damn

Didn't Phinnaeus Gage allegedly pay almost double that to get Bitcoin Foundation Platinum member status? Guessing that he is already a 'Bitcoin millionaire' to be splashing out all those hodlable funds.

Pretty sure he didn't pay anything and was just chatting shit.

Aren't you the same guy that said the term "goxxed" only applies to actual mt gox company? 
Like another poster said, it's like saying it's only a Ponzi scheme if mr. Charles Ponzi was involved.
No need to be so literal.  To me, bitcoin millionaire is someone who has holdings of bitcoin a worth
$1,000,000.  Simple.

You only need 55 BTC to be a bitcoin millonairei n that sense (1090100.00 Russian Rubles)  :D
I think to be a bitcoin milloniare in the literal sense you need 1 million bitcoins, this would cost about $562.155.000 USD (~ 500 million USD), I have this laying around in my pocket  :P

55 coins?  No that would be only worth only $31,000

yes, but more than a million russian rubles  :D

we all know what it means - someone who has become a millionaire in USD from investing in bitcoin.

if the community decide that is what the term means then that is what it means and that how terms become real.

How long until this becomes a poll in Bitcoin Discussion?

I guess there's no need for a poll. The factual definition is: owner of at least one million bitcoins, but the usage that many people are familiar with is that a person has at least one million dollars/pounds/euros (typically) worth of bitcoin.

As somebody else pointed out, the flaw with the latter usage is that you could easily be considered a Bitcoin millionaire in rules, or yen etc haha.

Not just USD but whatever your own fiat currencies is.