How too get rich

[dothebeats]

If there is a time machine that is fully functional, I'd definitely invest on Google, Apple, Microsoft and bitcoin. But unfortunately, there isn't one available right now so I'll stick with the traditional method. I'll work day and night and keep some of it for my investments, diversify those investments and re-roll the profits until I see that I'm fine with what I have. Rinse and repeat. Of course it will be that long but hey! Most millionaires earned their millions by doing this thing.

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[futureofbitcoin]

there is a logical fallacy here, because the more we go high the more hard is to go even higher, so buying at 1/5(like in your example of hit $100 i buy at 20 ecc..) of the maximum isn't always good if we have already reached a high amount, the chances it will fall are much higher

besides this there is no guarateed that bitcoin will skyrocket that's the problem and this is the reason why i said the above thing

This isn't necessarily true. The difficulty would be something like a bell curve.

It was extremely difficult when bitcoin was worthless, because it is worthless so no one wants it. It gets easier and easier when it gets bigger because now it has a much higher chance of succeeding. Then when it gets too big, it becomes very difficult to get bigger again.

I think a bell curve might be hard with it.  I can see lot of outliers on having very very little, and some with massive amounts.

I just see that throwing it off, but I could be wrong.  I also don't think BTC will ever be completely worthless at this point.  What it's value will be in 10 years I have no idea but it will be something.

I'm not talking about the amount of coins people own.

I'm talking about the likelihood of bitcoin increasing in price.

When it was worth 0.001 each, it had a lot more room to increase, but at the same time there was a very high likelihood it would fail. Now that its a lot bigger, there's a lot less potential to increase 100000x, but it is a lot more likely that bitcoin will not die now than it was in 2010.

So when you graph the EV of bitcoin at different points on the graph, it isn't a complete downwards slope, but more of an upside down parabola.

[Amph]

there is a logical fallacy here, because the more we go high the more hard is to go even higher, so buying at 1/5(like in your example of hit $100 i buy at 20 ecc..) of the maximum isn't always good if we have already reached a high amount, the chances it will fall are much higher

besides this there is no guarateed that bitcoin will skyrocket that's the problem and this is the reason why i said the above thing

This isn't necessarily true. The difficulty would be something like a bell curve.

It was extremely difficult when bitcoin was worthless, because it is worthless so no one wants it. It gets easier and easier when it gets bigger because now it has a much higher chance of succeeding. Then when it gets too big, it becomes very difficult to get bigger again.

i was talking merely about that "too big" that you emphasizes, that's was my point, there will be a limit where increasing above it, might be almost impossible

also i think that it was more easy to pump the price back then because anyone could do it, now you need group of whale, rich guys and whatever

[Bardman]

there is a logical fallacy here, because the more we go high the more hard is to go even higher, so buying at 1/5(like in your example of hit $100 i buy at 20 ecc..) of the maximum isn't always good if we have already reached a high amount, the chances it will fall are much higher

besides this there is no guarateed that bitcoin will skyrocket that's the problem and this is the reason why i said the above thing

This isn't necessarily true. The difficulty would be something like a bell curve.

It was extremely difficult when bitcoin was worthless, because it is worthless so no one wants it. It gets easier and easier when it gets bigger because now it has a much higher chance of succeeding. Then when it gets too big, it becomes very difficult to get bigger again.

i was talking merely about that "too big" that you emphasizes, that's was my point, there will be a limit where increasing above it, might be almost impossible

also i think that it was more easy to pump the price back then because anyone could do it, now you need group of whale, rich guys and whatever

I bet people said the exact same thing when bitcoin was worth a few cents, went up to a few dollars and people said, nah it cant go up anymore, went to a hundred, again nah it cant go up anymore and boom to 1000$ and it still didnt stop there, it went even to 1200$ and could have stayed there if it wasnt for china.

[Amph]

there is a logical fallacy here, because the more we go high the more hard is to go even higher, so buying at 1/5(like in your example of hit $100 i buy at 20 ecc..) of the maximum isn't always good if we have already reached a high amount, the chances it will fall are much higher

besides this there is no guarateed that bitcoin will skyrocket that's the problem and this is the reason why i said the above thing

This isn't necessarily true. The difficulty would be something like a bell curve.

It was extremely difficult when bitcoin was worthless, because it is worthless so no one wants it. It gets easier and easier when it gets bigger because now it has a much higher chance of succeeding. Then when it gets too big, it becomes very difficult to get bigger again.

i was talking merely about that "too big" that you emphasizes, that's was my point, there will be a limit where increasing above it, might be almost impossible

also i think that it was more easy to pump the price back then because anyone could do it, now you need group of whale, rich guys and whatever

I bet people said the exact same thing when bitcoin was worth a few cents, went up to a few dollars and people said, nah it cant go up anymore, went to a hundred, again nah it cant go up anymore and boom to 1000$ and it still didnt stop there, it went even to 1200$ and could have stayed there if it wasnt for china.

when the price is very low, it goes more side by side, with the notoriety, and for this reason bitcoin didn't faced any pump, also many was thinking that it was a virus or something, but when you gain a little notoriety this rules apply less, it will be more about rich whale than anything else

because many average people are not willing, to buy at an higher price, wanting to keep the possibility to buy a whole bitcoin or more

[AtheistAKASaneBrain]

Buy or develop your own time machine and go back to 2008 and mine BTC on the computer at your mothers house in the basement

I think you can not overnight to become rich, should be done to establish some of their business to become rich . They should also have some luck in life, but needs a lot of work and effort. You should be at the right time in the right place .

Few years ago.

My friend told me that he's going to buy 10 BTC for around $20, I wasn't actually interested in it and I didn't buy anything.
When I see the price now I want to kill yourself I didn't buy any, really. I'm dumb.

As someone else pointed out earlier, buy some BTC now. You are taking the same risk as your friend did back then. Either it will go up or down, but if you believe in it you will kick yourself harder in a one, two, or even five years down the road.

I am sure when BTC first hit $2 there were people saying the same thing; why didn't I buy when it was $0.02 or $0.20, etc. Then when it first hit $20, why didn't I buy at $2?. At $100, why didn't I buy at $20, etc.

So my point is if BTC ever gets mainstream its value will skyrocket. Think about it, only 21 million coins divided up amongst 8 billion people on the planet. That is roughly a 380 people per 1 BTC ratio, so BTC will be very scarce by then. Heck even if one country, say the US at 350 million people to only 21 million BTC, you get the picture.

So if BTC would get to be worth $10,000, $100,000 or even $1,000,000 per BTC, buying at $100 versus $300 becomes almost a moot point. And before thinking such a valuation couldn't happen, consider the GDP of the US in 2013 was approximately 16.77 trillion dollars. I know that is is far from evenly distributed (99% versus the 1%, etc) but for simple math, look at dividing that $16,777,000,000,000 by 21,000,000 coins and they would need to be worth $798,904 each just to sustain one countries economy. BTC is a global currency, so it could be higher. Of course this is the extreme in price prediction and is not very probable, but it does illustrate the potential should BTC get a mainstream foothold.

We already seen one peak at over $1,000 per BTC, and I as many others believe the current price suppression is mainly due to big players buying up the cheap coins (the 0.01%ers). Now is the chance to join them.

there is a logical fallacy here, because the more we go high the more hard is to go even higher, so buying at 1/5(like in your example of hit $100 i buy at 20 ecc..) of the maximum isn't always good if we have already reached a high amount, the chances it will fall are much higher

besides this there is no guarateed that bitcoin will skyrocket that's the problem and this is the reason why i said the above thing

But he is right. Yes, we will not become millionaires overnight just as we could have become millionaires overnight (or in 3 years) if we bought in 2009 for peanuts. But look at the big picture. Bitcoin's marketcap is still TINY. The potential for growth is immense. We'll have to wait 10 to 20 times more than super early adopters, but we are still early adopters.

[dreey]

buy some bitcoin and wait a few years )

[bitcoinmar]

buy some bitcoin and wait a few years )

You need to buy good amount with some you are not going to be rich for this you have to wait nearly half century

[tyz]

The question is, what does rich mean to you? Some say, they are rich when they have $100k, other $1mln and others $1bln.
You need to clear that first in order to get an appropriate answer 

[dothebeats]

The question is, what does rich mean to you? Some say, they are rich when they have $100k, other $1mln and others $1bln.
You need to clear that first in order to get an appropriate answer 

I think you can be considered rich if you can afford to buy many things that aren't a necessity of yours, say buy 4 cars when you can only buy 1 and use 1. Spending power and net worth is really important in the definition of rich in this case.   

[Falconer]

The question is, what does rich mean to you? Some say, they are rich when they have $100k, other $1mln and others $1bln.
You need to clear that first in order to get an appropriate answer 

Rich is get more much money than you need, so it has different meaning depends on each perception by other person. No need to get $1M, atleast you can take your kids to their school with a SUV

[knowhow]

for me rich means enought money to pay my bills and let me spend and without worry hell there is coming the credit card bill to pay and internet and any bills .

So lets say im sure 2 milions is enought for me even 1 milion,in crypto world the best way to get near well why not lauch own coin i see people saying invest at xx back in future why dont make own coin? hire a developer to do the stuffs lol

[stromma44]

buy some bitcoin and wait a few years )

That is true but there are also many other options available, you cannot only depend of bitcoins. And buying bitcoins mean you need to be specific that how much you want to buy that will really make you rich in the future and that totally depends on an individual that what is his definition of being rich and how rich he wants to be. 

[knowhow]

buy some bitcoin and wait a few years )

That is true but there are also many other options available, you cannot only depend of bitcoins. And buying bitcoins mean you need to be specific that how much you want to buy that will really make you rich in the future and that totally depends on an individual that what is his definition of being rich and how rich he wants to be. 

the thing is to reinvest any bitcoin we earn and avoid make an investment and left the job thinking on getting rich from bitcoin ,even from trading,call those income an extra that you can save

[torrentheaven]

buy some bitcoin and wait a few years )

That is true but there are also many other options available, you cannot only depend of bitcoins. And buying bitcoins mean you need to be specific that how much you want to buy that will really make you rich in the future and that totally depends on an individual that what is his definition of being rich and how rich he wants to be. 

the thing is to reinvest any bitcoin we earn and avoid make an investment and left the job thinking on getting rich from bitcoin ,even from trading,call those income an extra that you can save

Trading & Gambling are two factors that can make you rich in the quick time. But yes both involves risk but more risks more returns. So I would rather prefer to get rich in quick time So I would choose to gamble on sports make a good money out of it and I would gamble only when I would be sure that I will Win.

[futureofbitcoin]

buy some bitcoin and wait a few years )

That is true but there are also many other options available, you cannot only depend of bitcoins. And buying bitcoins mean you need to be specific that how much you want to buy that will really make you rich in the future and that totally depends on an individual that what is his definition of being rich and how rich he wants to be. 

the thing is to reinvest any bitcoin we earn and avoid make an investment and left the job thinking on getting rich from bitcoin ,even from trading,call those income an extra that you can save

Trading & Gambling are two factors that can make you rich in the quick time. But yes both involves risk but more risks more returns. So I would rather prefer to get rich in quick time So I would choose to gamble on sports make a good money out of it and I would gamble only when I would be sure that I will Win.

gambling is a sure way to lose everything. There's no such thing as you're "sure" that you'll win a sports bet. It means you don't understand probability, which is an even stronger indication that you shouldn't gamble.

Don't gamble with -EV. It's just not worth it.

[farting_shot]

If you really want "too" [sic] get rich, first learn to spell correctly.

[pureelite]

Buy or develop your own time machine and go back to 2008 and mine BTC on the computer at your mothers house in the basement

The best way to get rich is to start an own business, to be unique in what you're doing, to be a true master of his job, doing well and conveniently. For something like that, does not need a lot of investment, you just have to work hard and with a little luck you could become rich.

[Pab]

 Maybe first find what means rich for you,than find  value
I dont think so that you can be rich by hunting for money,first invest in yourself,in your own creativity,and  find space where you fill the best

[mrhelpful]

Buy or develop your own time machine and go back to 2008 and mine BTC on the computer at your mothers house in the basement

The best way to get rich is to start an own business, to be unique in what you're doing, to be a true master of his job, doing well and conveniently. For something like that, does not need a lot of investment, you just have to work hard and with a little luck you could become rich.

Yeah, I totally agree on this path. Its better to hack your own cash flow on what youre are worth.

Unless youre okay working on the 9-5 grind for the rest of your life and retire at 50-60?