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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 507683 times)
el kaka22
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June 19, 2016, 09:33:50 AM
 #3261

how many btc do i need to have in order to be a part of this elite club


I think that at the time of Op, there were quite a few people who owned 10k BTC and more because it would only cost a grand or less to accomplish such holdings.

Sure, over time the amount of coins is going to change and feeling wealthy is kind of relative, but probably, a person needs to minimally attempt to acquire 10 BTC at this price point.. and, yeah, if you can acquire 100 or more BTC at this point, you will likely be in decent shape in the future.

I don't really recommend investing balls to the walls, but if you are newbie getting into bitcoin now, then maybe you could front load a bit and then buy on dips and sell very small amounts on rises while keeping in mind that your goal is to attempt to accumulate as many coins as you can within your own budget.  By the way, I also don't believe in leveraging or borrowing in order to achieve such goals, but it could work out well in certain scenarios, even though it remains a fairly risky proposition (to leverage your BTC investment).

So, maybe newbies could target 10BTC to 100BTC, and just attempt to be reasonable in your acquisition and accumulation process.

Of course, perspectives and approaches are going to vary, so each of us has to find his/her own comfort level in this regard.
Great advises for  new comers, but I think for a regular joe it is hard to acquire a 10BTC having considering that the value is changing. The market is changing everyone is changing. We will never know when is the time that BTC will change its value to a tremendous scale.
It is a good thing to save now, and have a good future.

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June 19, 2016, 09:52:09 AM
 #3262

how many btc do i need to have in order to be a part of this elite club


I think that at the time of Op, there were quite a few people who owned 10k BTC and more because it would only cost a grand or less to accomplish such holdings.

Sure, over time the amount of coins is going to change and feeling wealthy is kind of relative, but probably, a person needs to minimally attempt to acquire 10 BTC at this price point.. and, yeah, if you can acquire 100 or more BTC at this point, you will likely be in decent shape in the future.

I don't really recommend investing balls to the walls, but if you are newbie getting into bitcoin now, then maybe you could front load a bit and then buy on dips and sell very small amounts on rises while keeping in mind that your goal is to attempt to accumulate as many coins as you can within your own budget.  By the way, I also don't believe in leveraging or borrowing in order to achieve such goals, but it could work out well in certain scenarios, even though it remains a fairly risky proposition (to leverage your BTC investment).

So, maybe newbies could target 10BTC to 100BTC, and just attempt to be reasonable in your acquisition and accumulation process.

Of course, perspectives and approaches are going to vary, so each of us has to find his/her own comfort level in this regard.
Great advises for  new comers, but I think for a regular joe it is hard to acquire a 10BTC having considering that the value is changing. The market is changing everyone is changing. We will never know when is the time that BTC will change its value to a tremendous scale.
It is a good thing to save now, and have a good future.

O.k.  Maybe I am kind of assuming too much about folks when I suggest targeting 10BTC to 100BTC.

If someone is really brand new to BTC, then they may need to figure out a way to budget a portion of their income.

Let's say for example, that you have $1,000 per month in income and your rent and basic expenses cause you to have to spend about $750.  Then you have $250 left, but you have other expenses too, and maybe in the end, you can only afford $100 per month.

Everyone is going to have different amounts that they are able to set aside depending on their circumstances, and bitcoin likely remains a decent investment, but there may be a need to engage in a kind of dollar cost averaging investment, in the event that a person does not already have a savings that s/he can transfer into bitcoin, and s/he just puts in as much as s/he can reasonably afford to do so without causing personal hardship (s).





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June 19, 2016, 11:02:28 AM
 #3263

how many btc do i need to have in order to be a part of this elite club


I think that at the time of Op, there were quite a few people who owned 10k BTC and more because it would only cost a grand or less to accomplish such holdings.

Sure, over time the amount of coins is going to change and feeling wealthy is kind of relative, but probably, a person needs to minimally attempt to acquire 10 BTC at this price point.. and, yeah, if you can acquire 100 or more BTC at this point, you will likely be in decent shape in the future.

I don't really recommend investing balls to the walls, but if you are newbie getting into bitcoin now, then maybe you could front load a bit and then buy on dips and sell very small amounts on rises while keeping in mind that your goal is to attempt to accumulate as many coins as you can within your own budget.  By the way, I also don't believe in leveraging or borrowing in order to achieve such goals, but it could work out well in certain scenarios, even though it remains a fairly risky proposition (to leverage your BTC investment).

So, maybe newbies could target 10BTC to 100BTC, and just attempt to be reasonable in your acquisition and accumulation process.

Of course, perspectives and approaches are going to vary, so each of us has to find his/her own comfort level in this regard.
Great advises for  new comers, but I think for a regular joe it is hard to acquire a 10BTC having considering that the value is changing. The market is changing everyone is changing. We will never know when is the time that BTC will change its value to a tremendous scale.
It is a good thing to save now, and have a good future.

O.k.  Maybe I am kind of assuming too much about folks when I suggest targeting 10BTC to 100BTC.

If someone is really brand new to BTC, then they may need to figure out a way to budget a portion of their income.

Let's say for example, that you have $1,000 per month in income and your rent and basic expenses cause you to have to spend about $750.  Then you have $250 left, but you have other expenses too, and maybe in the end, you can only afford $100 per month.

Everyone is going to have different amounts that they are able to set aside depending on their circumstances, and bitcoin likely remains a decent investment, but there may be a need to engage in a kind of dollar cost averaging investment, in the event that a person does not already have a savings that s/he can transfer into bitcoin, and s/he just puts in as much as s/he can reasonably afford to do so without causing personal hardship (s).





yes it is a fact but it depend on the bitcoin rate and its price. if it is going up and continue its trend then it is possible that we will be the next gentle men having a lot of money .
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June 19, 2016, 05:42:54 PM
 #3264

how many btc do i need to have in order to be a part of this elite club


I think that at the time of Op, there were quite a few people who owned 10k BTC and more because it would only cost a grand or less to accomplish such holdings.

Sure, over time the amount of coins is going to change and feeling wealthy is kind of relative, but probably, a person needs to minimally attempt to acquire 10 BTC at this price point.. and, yeah, if you can acquire 100 or more BTC at this point, you will likely be in decent shape in the future.

I don't really recommend investing balls to the walls, but if you are newbie getting into bitcoin now, then maybe you could front load a bit and then buy on dips and sell very small amounts on rises while keeping in mind that your goal is to attempt to accumulate as many coins as you can within your own budget.  By the way, I also don't believe in leveraging or borrowing in order to achieve such goals, but it could work out well in certain scenarios, even though it remains a fairly risky proposition (to leverage your BTC investment).

So, maybe newbies could target 10BTC to 100BTC, and just attempt to be reasonable in your acquisition and accumulation process.

Of course, perspectives and approaches are going to vary, so each of us has to find his/her own comfort level in this regard.
Great advises for  new comers, but I think for a regular joe it is hard to acquire a 10BTC having considering that the value is changing. The market is changing everyone is changing. We will never know when is the time that BTC will change its value to a tremendous scale.
It is a good thing to save now, and have a good future.

O.k.  Maybe I am kind of assuming too much about folks when I suggest targeting 10BTC to 100BTC.

If someone is really brand new to BTC, then they may need to figure out a way to budget a portion of their income.

Let's say for example, that you have $1,000 per month in income and your rent and basic expenses cause you to have to spend about $750.  Then you have $250 left, but you have other expenses too, and maybe in the end, you can only afford $100 per month.

Everyone is going to have different amounts that they are able to set aside depending on their circumstances, and bitcoin likely remains a decent investment, but there may be a need to engage in a kind of dollar cost averaging investment, in the event that a person does not already have a savings that s/he can transfer into bitcoin, and s/he just puts in as much as s/he can reasonably afford to do so without causing personal hardship (s).





yes it is a fact but it depend on the bitcoin rate and its price. if it is going up and continue its trend then it is possible that we will be the next gentle men having a lot of money .


I believe that also a part of my point was that I was expecting a large majority of folks to be earning money in fiat, but even if they do not, they still likely will calculate prices in fiat because that is how they spend their money.  The fiat remains the unit of value, and can remain so for a very long time, and we may consider that as bitcoin prices go up, we are not going to be able to accumulate as many BTC, even though we invest in the same amount of fiat (whether that be $100 per month $1,000 per month or some higher amount). 

In any event, if we want to attempt to become "new wealthy elite, gentlemen"  it may not matter so much how many bitcoin we have right now, but we continue  to recognize that bitcoin is going to continue to be the superior method of earning on your savings, and therefore you attempt to invest (and accumulate) as many as you reasonably can whether that is a percentage of your income or actual hard goals about how many BTC you would like to accumulate based on your own financial circumstances, timeline and ability to focus on your accumulation goals.


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June 19, 2016, 06:23:59 PM
 #3265

Shoot for 2.1 bitcoins. That way you have 1/10 millionth of all bitcoins that will ever be created.

After that go for 21 so that you hold one millionth of all bitcoins.

If you can get there then go for 210 bitcoins. At that point you no more than 100,000 people will ever be richer than you.

If you work hard enough to accumulate 2100 you will be one of the 10,000 richest people in the world once Bitcoin is the world currency.

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June 20, 2016, 01:21:23 PM
 #3266

Shoot for 2.1 bitcoins. That way you have 1/10 millionth of all bitcoins that will ever be created.

After that go for 21 so that you hold one millionth of all bitcoins.

If you can get there then go for 210 bitcoins. At that point you no more than 100,000 people will ever be richer than you.

If you work hard enough to accumulate 2100 you will be one of the 10,000 richest people in the world once Bitcoin is the world currency.

If you can't afford 2100 right now it will be too late already I think.

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June 20, 2016, 06:48:28 PM
 #3267

Shoot for 2.1 bitcoins. That way you have 1/10 millionth of all bitcoins that will ever be created.

After that go for 21 so that you hold one millionth of all bitcoins.

If you can get there then go for 210 bitcoins. At that point you no more than 100,000 people will ever be richer than you.

If you work hard enough to accumulate 2100 you will be one of the 10,000 richest people in the world once Bitcoin is the world currency.

If you can't afford 2100 right now it will be too late already I think.


2100BTC = $1.5 million dollars. Can't afford it.... too late for me to become rich?
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June 20, 2016, 06:49:56 PM
 #3268

Shoot for 2.1 bitcoins. That way you have 1/10 millionth of all bitcoins that will ever be created.

After that go for 21 so that you hold one millionth of all bitcoins.

If you can get there then go for 210 bitcoins. At that point you no more than 100,000 people will ever be richer than you.

If you work hard enough to accumulate 2100 you will be one of the 10,000 richest people in the world once Bitcoin is the world currency.

If you can't afford 2100 right now it will be too late already I think.


2100BTC = $1.5 million dollars. Can't afford it.... too late for me to become rich?

LOL  I was thinking the same thing.. LOL

If you can buy 2100 BTC you are already rich.. wtf you mean you can't become rich unless you have 2100.. wtf?
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A Great Time to Start Something!


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June 20, 2016, 06:57:20 PM
 #3269

Shoot for 2.1 bitcoins. That way you have 1/10 millionth of all bitcoins that will ever be created.

After that go for 21 so that you hold one millionth of all bitcoins.

If you can get there then go for 210 bitcoins. At that point you no more than 100,000 people will ever be richer than you.

If you work hard enough to accumulate 2100 you will be one of the 10,000 richest people in the world once Bitcoin is the world currency.

210 Bitcoins sounds like a great goal.
I almost had 100 back in 2011/2012, but the slow recovery from $1.99992 to $7+ looked like a great time to get out 3x+ above the bottom...   ...lol?

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June 20, 2016, 06:58:41 PM
 #3270

Shoot for 2.1 bitcoins. That way you have 1/10 millionth of all bitcoins that will ever be created.

After that go for 21 so that you hold one millionth of all bitcoins.

If you can get there then go for 210 bitcoins. At that point you no more than 100,000 people will ever be richer than you.

If you work hard enough to accumulate 2100 you will be one of the 10,000 richest people in the world once Bitcoin is the world currency.

If you can't afford 2100 right now it will be too late already I think.


2100BTC = $1.5 million dollars. Can't afford it.... too late for me to become rich?

No your too late to own 2100 XBT. Ever. Sorry Smiley (I will also never own 2100 XBT)

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June 20, 2016, 08:41:28 PM
 #3271

Shoot for 2.1 bitcoins. That way you have 1/10 millionth of all bitcoins that will ever be created.

After that go for 21 so that you hold one millionth of all bitcoins.

If you can get there then go for 210 bitcoins. At that point you no more than 100,000 people will ever be richer than you.

If you work hard enough to accumulate 2100 you will be one of the 10,000 richest people in the world once Bitcoin is the world currency.

If you can't afford 2100 right now it will be too late already I think.


2100BTC = $1.5 million dollars. Can't afford it.... too late for me to become rich?

No your too late to own 2100 XBT. Ever. Sorry Smiley (I will also never own 2100 XBT)


I've been considering these various responses in response to the 2.1 / 21/ 210 and 2,100 question, and surely 2,100 is surely the most lofty of the goals, yet I am not sure whether it is impossible to achieve, for example if you have already achieve the 210 goal. 

Let's say for example, you are of fairly modest means (with a decent amount of disposable income), and you were able to acquire 210 coins in the lower $200s (let's say for a bit over $230 on average so you already invested most of your savings, around $50k). 

You invested most of your savings, but you were a bit afraid to invest more into bitcoin because you were not sure where it was going and you certainly did not want to leverage in any kind of way, yet you still have an outside disposable income, etc.  Therefore, besides your initial investment, you continued to dollar cost average around $1,000 per month in the past year, so now you have acquired around 250 coins.  Maybe you can continue to dollar cost average invest into bitcoin and to use part of your stash to trade and another part of your stash for security. 

Bitcoin is very volatile, so yeah, maybe 1,000 coins may be the most that you could expect to accumulate, without gambling too much and putting at risk your whole stake. 

O.k... maybe this is a bit of a dumb idea... and if you are just getting in now, maybe 210 coins would be lofty in itself, and maybe if bitcoin prices really surge with several more 10x price increases, then 21 coins would actually be sufficient to feel part of the new wealthy elite, gentlemen. 

Only three more  10 x increases from here, would put the 21 BTC stash at (21 x $736 = 15,500 x 10 = $150,500 x10 = $1,550,000 x 10 = $15,550,000).  Many of us would recognize $15 million as a fairly decent stash getting us close to "new wealthy elite, gentlemen."





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June 20, 2016, 09:31:50 PM
 #3272

210 Bitcoins sounds like a great goal.
I almost had 100 back in 2011/2012, but the slow recovery from $1.99992 to $7+ looked like a great time to get out 3x+ above the bottom...   ...lol?

If you cashed out 3x of what you bought with, that is great return for the investment. The only unfortunate thing is you just bought with $200. Thats why I dont believe anyone buying today just around 1 BTC and store longterm can even retire from this - you need more coins, probably at least 21.

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June 21, 2016, 03:27:23 AM
 #3273

Shoot for 2.1 bitcoins. That way you have 1/10 millionth of all bitcoins that will ever be created.

After that go for 21 so that you hold one millionth of all bitcoins.

If you can get there then go for 210 bitcoins. At that point you no more than 100,000 people will ever be richer than you.

If you work hard enough to accumulate 2100 you will be one of the 10,000 richest people in the world once Bitcoin is the world currency.

Bring it on. Im ready to be in the top.
Praise the lord, we are the wealthy elite brought to you by Bitcoin.
I fucking love you Satoshi. Like Pure homo!  Grin
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June 21, 2016, 03:45:50 PM
 #3274

Bring it on. Im ready to be in the top.
Praise the lord, we are the wealthy elite brought to you by Bitcoin.
I fucking love you Satoshi. Like Pure homo!  Grin


HODLing for the longest time. Skippin fast right around the moon. On a rocketship straight to mars.
Up, up and away with my beautiful, my beautiful Bitcoin~
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June 21, 2016, 03:48:17 PM
 #3275

I haven't been blessed. Undecided Undecided Undecided

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June 21, 2016, 08:14:55 PM
 #3276

yes we can say that we are pretty confident that we are the new wealthy elite gentlemen. but this statement only depend on the position of the bitcoin. we can see that in a single day the price of bitcoin dropped more than 100 USD. so if there is such kind of uncertainty then what how can it be possible. if we want to become rich from bitcoin, bitcoin needs to be stable, there should not be so much flexibility in the up and down of the rates of the bitcoin.
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June 21, 2016, 08:23:35 PM
 #3277

yes we can say that we are pretty confident that we are the new wealthy elite gentlemen. but this statement only depend on the position of the bitcoin. we can see that in a single day the price of bitcoin dropped more than 100 USD. so if there is such kind of uncertainty then what how can it be possible. if we want to become rich from bitcoin, bitcoin needs to be stable, there should not be so much flexibility in the up and down of the rates of the bitcoin.

If you want to get wealthy and rich with bitcoin then you have to hold huge amount of coins, and I really feel that if  we hold more then 100 btc then we are wealthy gentlemen.
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June 21, 2016, 09:27:03 PM
 #3278

yes we can say that we are pretty confident that we are the new wealthy elite gentlemen. but this statement only depend on the position of the bitcoin. we can see that in a single day the price of bitcoin dropped more than 100 USD. so if there is such kind of uncertainty then what how can it be possible. if we want to become rich from bitcoin, bitcoin needs to be stable, there should not be so much flexibility in the up and down of the rates of the bitcoin.


Aspiring towards stability any time soon in the bitcoin prices is nearly pure wishful thinking.

One of the most plausible ways for bitcoin to achieve some semblance of price stability is to transform its current market cap by about 100x higher from here, and who the hell knows whether that kind of market cap increase is coming any time soon? 

Surely, it feels possible to get some decent market cap increase in bitcoin in the near future, but more realistically, bitcoin is going to suffer from considerable volatility for quite a while to come because there are plenty of monied interests that do not mind pumping money into attempting to keep its price down (whether through propaganda or by dumping coins on the various exchanges or any other ways that they can consider to attempt to suppress the price).

Accordingly, if you are bothered by such great volatility in bitcoin's price and such likely continued great volatility in its price, then you need to consider ways in which you personally can take your own personal measures to either take advantage of bitcoin's nearly inevitable ongoing volatility or to some how cope with the ongoing volatility.

Again it seems to be unrealistic to attempt to wish away bitcoin's volatility and such wishing away seems to be quite detached from the real current state of affairs in the bitcoin space, especially at this price point and any price point short of a 100x higher market cap.   By the way, I am considering that from here, a 100x increase would cause bitcoin's market cap to sit around $1trillion and bitcoins would be individually priced in about the $65k arena.

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June 21, 2016, 09:40:49 PM
 #3279

I believe this is true, it's not going to happen overnight, but it will happen
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June 22, 2016, 06:38:02 AM
 #3280

This is such a legendary thread. We are definitely going to be a part of the wealthy elite even now when the bitcoin price is already sky high in my opinion. Even though there are already a lot of adopters right now, there are still opportunities.

So get onto this bitcoin ship while you still can.
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