What is your plan to get rich with Bitcoin?

[JayJuanGee]

My plan is the accumulate slow steady bitcoins through cloud mining and faucets. Ill slowly reinvest into powers into cloud mining, hopefully bring in passive income for some time. I think bit coin will continue to rise for the next couple years so cloud mining passively seems very lucrative. Nothing to get rich fast. But a good long term investment point of view.

Don't invest your money stuck into cloud mining. I guess that at this point everyone knows that the cloud mining industry is full of scam sites. I hope you know what you are doing.

That's true. If you really want to invest on cloud mining sites, just be sure that you do not invest all your bitcoin in just one mining site. There's also a risk on investing, so you must look out for a good site. And ofcourse you must save some of your bitcoin, because most of the mining sites shutdown or turned into scam as time passes by. Also think of any other option aside from cloud mining and faucets, there are many other ways out there to earn bitcoin.

There are no profitable cloudmining companies anymore. There are legit ones such as Genesis Mining, but they will end up costing you money instead of generating money, especially if you 'invest' (haha) in SHA256-mining. Mining ETH in the cloud is slightly profitable, but it will stop doing so when the ETH price goes down. And if you are of the opinion that the ETH price will go up, you're better off just buying some ETH and waiting for it's value to increase. Not only more profitable but much safer too, as you can cut your losses any time you please.

I personally made quite a lot of money through pre-paid contracts at megamine.com. I lost quite a lot at genesis-mining.com.

As for the OP, the best way to get rich with BTC is to start a company offering a service that makes BTC easier to use. A friend once told me, when gold fever breaks out, you'd better be the one selling shovels.

Another way is to speculate successfully. But that's ultimately quite a gamble, especially since you'd need a big starting capital to have big gains. I'm trying going down this road, loaned some money, doubled the fiat-value so far, hoping to double again soon by selling BTC for altcoins at what I will have to guess is about the top of the value of BTC say a month or two months after the halving, then buying back in a month later. Risky tho.

You have a lot of good ideas... and best not to get too greedy in selling BTC for alts, but some people do really well with these kinds of moves.

[adibe]

For now, my plan in holding all my bitcoin until the halving come. Because i'm sure the bitcoin's price will increase and if it happen, i will get rich by it.

[Imoote]

For now, my plan in holding all my bitcoin until the halving come. Because i'm sure the bitcoin's price will increase and if it happen, i will get rich by it.

Not enough with it to become rich with bitcoin. Need to work hard very earnest in order to get a lot of bitcoin. There are many easy methods that we can try to get bitcoin should we try.

[pearl11]

For now, my plan in holding all my bitcoin until the halving come. Because i'm sure the bitcoin's price will increase and if it happen, i will get rich by it.

How.many btc are you holding right now? Cause your so confident that you will get rich when bitcoin price increase.
Like you im holding my coins too but it will only give me some profit but it willl not make me rich.

[Mr.grin]

For now, my plan in holding all my bitcoin until the halving come. Because i'm sure the bitcoin's price will increase and if it happen, i will get rich by it.

Not enough with it to become rich with bitcoin. Need to work hard very earnest in order to get a lot of bitcoin. There are many easy methods that we can try to get bitcoin should we try.

maybe you're right. waiting is good, but it probably will not be enough to make you become rich, maybe you should learn to play the trade, because trade can make you rich

[thejaytiesto]

Buy and holding 80% of what I make while investing 20% in researched market moves seems like the best idea and what is making me have the most profits. I take a conservative approach because I was sure that sooner or later price would go up, so holding most of it would be the most efficient way to raise my wealth.

[Crazygreek]

I have no any play to get rich with bitcoin, i am not sure that i can do it cause for me is better to slowly evolving, it's so interesting.

[JayJuanGee]

Buy and holding 80% of what I make while investing 20% in researched market moves seems like the best idea and what is making me have the most profits. I take a conservative approach because I was sure that sooner or later price would go up, so holding most of it would be the most efficient way to raise my wealth.

Actually, I really like your approximately 80% holding BTC  20% trading allocation, yet at the same time, I think that it would also be a good plan for you to consider how those BTC/trading allocations may be somewhat flexible based upon different projected BTC price points. 

Maybe in the end, you will come back to the belief that 80%/20% works best for you at all projected price points, but it would be a good exercise to consider ways that you might trade more under certain scenarios or keep more in fiat under certain conditions?

Personally, I consider my trading portion of my BTC holdings, as not really a gambling portion of my BTC holdings, but moreso as a portion of my BTC holdings that are largely in fiat and somewhat fluctuating and authorized by me to fluctuate between fiat and BTC depending on BTC price moves.. but largely that "trading" portion is in fiat and there is some fluctuation in that portion depending on the speed, intensity and duration of BTC price movements in either direction. 

Furthermore, I also work that in a relatively conservative manner, which tends to pay off pretty well because BTC prices tend to overshoot on a regular basis and to reverse directions at unexpected times.  I really think that no one can really predict short term directions, except for maybe some whales, and probably they even get surprised when they cannot sufficiently manipulate the price direction to the extent that they would prefer.

[Hyperjacked]

Buy and holding 80% of what I make while investing 20% in researched market moves seems like the best idea and what is making me have the most profits. I take a conservative approach because I was sure that sooner or later price would go up, so holding most of it would be the most efficient way to raise my wealth.

Actually, I really like your approximately 80% holding BTC  20% trading allocation, yet at the same time, I think that it would also be a good plan for you to consider how those BTC/trading allocations may be somewhat flexible based upon different projected BTC price points.  

Maybe in the end, you will come back to the belief that 80%/20% works best for you at all projected price points, but it would be a good exercise to consider ways that you might trade more under certain scenarios or keep more in fiat under certain conditions?

Personally, I consider my trading portion of my BTC holdings, as not really a gambling portion of my BTC holdings, but moreso as a portion of my BTC holdings that are largely in fiat and somewhat fluctuating and authorized by me to fluctuate between fiat and BTC depending on BTC price moves.. but largely that "trading" portion is in fiat and there is some fluctuation in that portion depending on the speed, intensity and duration of BTC price movements in either direction.  

Furthermore, I also work that in a relatively conservative manner, which tends to pay off pretty well because BTC prices tend to overshoot on a regular basis and to reverse directions at unexpected times.  I really think that no one can really predict short term directions, except for maybe some whales, and probably they even get surprised when they cannot sufficiently manipulate the price direction to the extent that they would prefer.

Yada yada yada...just ask richard branson! He thinks he knows everything

disclaimer: Heroes are overrated at least on bct

[JayJuanGee]

Buy and holding 80% of what I make while investing 20% in researched market moves seems like the best idea and what is making me have the most profits. I take a conservative approach because I was sure that sooner or later price would go up, so holding most of it would be the most efficient way to raise my wealth.

Actually, I really like your approximately 80% holding BTC  20% trading allocation, yet at the same time, I think that it would also be a good plan for you to consider how those BTC/trading allocations may be somewhat flexible based upon different projected BTC price points.  

Maybe in the end, you will come back to the belief that 80%/20% works best for you at all projected price points, but it would be a good exercise to consider ways that you might trade more under certain scenarios or keep more in fiat under certain conditions?

Personally, I consider my trading portion of my BTC holdings, as not really a gambling portion of my BTC holdings, but moreso as a portion of my BTC holdings that are largely in fiat and somewhat fluctuating and authorized by me to fluctuate between fiat and BTC depending on BTC price moves.. but largely that "trading" portion is in fiat and there is some fluctuation in that portion depending on the speed, intensity and duration of BTC price movements in either direction.  

Furthermore, I also work that in a relatively conservative manner, which tends to pay off pretty well because BTC prices tend to overshoot on a regular basis and to reverse directions at unexpected times.  I really think that no one can really predict short term directions, except for maybe some whales, and probably they even get surprised when they cannot sufficiently manipulate the price direction to the extent that they would prefer.

Yada yada yada...just ask richard branson! He thinks he knows everything

disclaimer: Heroes are overrated at least on bct

Here's another post in which you are asserting some blurb, and I hardly know what you are referring to.

I provided my opinion and perspective based on my experience.  Ultimately, each person has to decide for himself/herself how to approach their BTC holdings and whether they trade any of them, whether they consider risks, personal finances, time lines, etc.  You are likely reading too much into my response if you believe that it involves anything more than mere sharing of perspective and an attempt at brainstorming.

[Hyperjacked]

Jay...I tryin to cook dinner for the wife n kids! And no I'm not chillin with richardbranson@virgin but you can tell him he doesn't control the price if he is your boss...

[john2231]

My plan to get rich in the future. is to collect more coins bitcoin or altcoins just to hold it for a long time before i sell it because i know the price of altcoin if i am lucky will be worth it in the future..

[JayJuanGee]

Jay...I tryin to cook dinner for the wife n kids! And no I'm not chillin with richardbranson@virgin but you can tell him he doesn't control the price if he is your boss...

Go on and chill if you will.


I have no connection with Richard Branson or his ideas, except perhaps through some kind of osmosis in which great minds think a like, potentially if he happens to be thinking like me in some regards.   

[ajun96]

I have no any play to get rich with bitcoin, i am not sure that i can do it cause for me is better to slowly evolving, it's so interesting.

only a few people who say that they became wealthy from bitcoin This makes a lot of users are having doubts were great to get rich from bitcoin? whereas there are many lives were saved from bitcoin including me ? bitcoin is very helpful to me.
I'm sure by continuously collecting bitcoin. I could become rich here

[reRaise]

You cant get rich with bitcoin anymore, u can through smart investments in promising alternative crypto projects, very few of them btw. ethereum, the dao, waves.

[Halliche]

I don't know what to say,i have no plan to get rich with bitcoin i think ,maybe i will get some money from halving and than i will create something but now i don't know.

[Imoote]

I don't know what to say,i have no plan to get rich with bitcoin i think ,maybe i will get some money from halving and than i will create something but now i don't know.

Maybe diligently collect bitcoin from a variety of methods we could have as many bitcoin and become rich. And sell when prices are high can also make us to have many advantages.

[Ryananda]

You cant get rich with bitcoin anymore, u can through smart investments in promising alternative crypto projects, very few of them btw. ethereum, the dao, waves.

I think probably continue to collect bitcoin could make us rich. Perhaps the rich dose of each person is different and nothing is the same. I myself consider my bitcoin as additional income, and I am satisfied with whatever I get from bitcoin.

[novemberwoah]

I don't know what to say,i have no plan to get rich with bitcoin i think ,maybe i will get some money from halving and than i will create something but now i don't know.

Maybe diligently collect bitcoin from a variety of methods we could have as many bitcoin and become rich. And sell when prices are high can also make us to have many advantages.

If we dare to try many methods to get bitcoin I am sure we will be easy to get a lot of bitcoin and could become rich. As long as the patient can do it.

[Hutalar]

I will give some bitcoin to my friends and relatives to promote the bitcoin so that the bitcoin price will rise.