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Author Topic: What is your plan to get rich with Bitcoin?  (Read 265528 times)
Legasean
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October 11, 2016, 07:42:53 AM
 #4781

Hey guys,

I just spoke to a guy over chat who told me his plan was to get 100 BTC, wait for the price to reach $5k per BTC and retire after that. Since he lives in a third world county, that might be possible for him. I know this is a simplification of the problem but I d like to know what s your plan. How many BTC is your goal, at what price and what happens once you reach that goal. After all, we have all been involved in a dream, why not dream it a bit more.  Grin

The price could do something like reach $5k and drop to $1k so he would have to sell in all which would be a really hard thing to do.  It could also reach very high price and die completely after.
The price of the bitcoin always depends about what everybody is doing with the bitcoin because the price is rising causes that lts of peopel will make profit and that is the
way to make money with bitcoins profits is the way.
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MaritiJames3
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October 11, 2016, 08:05:19 AM
 #4782

My plan to get rich with bitcoin is to be a long term investor and safe as many bitcoin as I can throughout the years.
And then after a lot of years I am hoping the value will be so high that I can be rich with the bitcoin I earned in that time.
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October 11, 2016, 08:07:24 AM
 #4783

My only plan to get rich with Bitcoin is by trading in Bitcoin/Altcoins.I hope bitcoin prices would go much higher in the future.Some may prefer gambling to get rich quickly.But it is a total loss.So, the best option is trading.
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October 11, 2016, 08:09:25 AM
 #4784

Holding on to it and investing a little in Poloniex and Bitbond! Been working well so far Cheesy
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October 11, 2016, 08:13:36 AM
 #4785

My only plan to get rich with Bitcoin is by trading in Bitcoin/Altcoins.I hope bitcoin prices would go much higher in the future.Some may prefer gambling to get rich quickly.But it is a total loss.So, the best option is trading.

Gambling will land you no where in future so its better to stay away from it and invest that money in trading where you always have an opportunity to make descent profits on regular basis.
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October 11, 2016, 09:02:50 AM
 #4786

I'm not aiming for rich, but I'm trying to grow my wealth.

Anyhow, this is my plan:

  • Invest 70% of my salary, diversified between index funds (stock market), bank savings/mortgage payments and bitcoin
  • Cut living costs
  • Increase income

As stated, to be able to invest 70% of my income, I obviously need to cut livings costs down to a minimum.

This includes:
Stop using my car, and rather use my bicycle to get around.
Move back to my moms..
Stop wasting money on bullshit/stuff I don't need/tech.
Buy cheaper food/grow my own veggies.

I'm also increasing my income by:
Renting out the car that I no longer use.
Renting out my apartment where I don't live anymore.
Getting a second job/selling stuff I buy for cheap, at a higher price.

I'm investing as much as possible, and I try to diversify my investments so I don't get screwed if some markets crash.

I'm using global index funds, to get a "stable" % of the global stock market increase. I'm saving up cash instead of paying off my mortgage. I'm able to do this because the rent on my loan is super low, and it pays off to invest it instead/save up cash so I can buy in when the next financial crisis comes. As long as I'm not forced to sell my appartment if/when the housing bubble bursts. Which I won't be, because I have fixed rent % on my mortgage, and I'm renting out the apartment + saved up funds, so I can take a hit, if it comes to that.

I'm also buying bitcoin, because I believe it will increase more in value over time than any stock market/housing market/savings account.

This is a long-term plan, around 10 years.

My goal is not to become "rich", but financially independent. Which means I do not want to be dependent of my employer.

I basically want FUCK YOU MONEY! ^^
Senor.Bla
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October 11, 2016, 09:13:33 AM
 #4787

I'm not aiming for rich, but I'm trying to grow my wealth.

Anyhow, this is my plan:

  • Invest 70% of my salary, diversified between index funds (stock market), bank savings/mortgage payments and bitcoin
  • Cut living costs
  • Increase income

As stated, to be able to invest 70% of my income, I obviously need to cut livings costs down to a minimum.

This includes:
Stop using my car, and rather use my bicycle to get around.
Move back to my moms..
Stop wasting money on bullshit/stuff I don't need/tech.
Buy cheaper food/grow my own veggies.

I'm also increasing my income by:
Renting out the car that I no longer use.
Renting out my apartment where I don't live anymore.
Getting a second job/selling stuff I buy for cheap, at a higher price.

I'm investing as much as possible, and I try to diversify my investments so I don't get screwed if some markets crash.

I'm using global index funds, to get a "stable" % of the global stock market increase. I'm saving up cash instead of paying off my mortgage. I'm able to do this because the rent on my loan is super low, and it pays off to invest it instead/save up cash so I can buy in when the next financial crisis comes. As long as I'm not forced to sell my appartment if/when the housing bubble bursts. Which I won't be, because I have fixed rent % on my mortgage, and I'm renting out the apartment + saved up funds, so I can take a hit, if it comes to that.

I'm also buying bitcoin, because I believe it will increase more in value over time than any stock market/housing market/savings account.

This is a long-term plan, around 10 years.

My goal is not to become "rich", but financially independent. Which means I do not want to be dependent of my employer.

I basically want FUCK YOU MONEY! ^^

this is a great post and you seldom see them here. i like your plan and would like to add to it.
i would also invest some money into gold/silver or other valuable stuff to diversify more.
there is also an aspect to think about. time. grow own veggies and buying/selling stuff can take up much time (they do not have to) and maybe your profits could be bigger if you invested that time somewhere else.

ipanks
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October 11, 2016, 09:54:20 AM
 #4788

I'm not aiming for rich, but I'm trying to grow my wealth.

Anyhow, this is my plan:

  • Invest 70% of my salary, diversified between index funds (stock market), bank savings/mortgage payments and bitcoin
  • Cut living costs
  • Increase income

As stated, to be able to invest 70% of my income, I obviously need to cut livings costs down to a minimum.

This includes:
Stop using my car, and rather use my bicycle to get around.
Move back to my moms..
Stop wasting money on bullshit/stuff I don't need/tech.
Buy cheaper food/grow my own veggies.

I'm also increasing my income by:
Renting out the car that I no longer use.
Renting out my apartment where I don't live anymore.
Getting a second job/selling stuff I buy for cheap, at a higher price.

I'm investing as much as possible, and I try to diversify my investments so I don't get screwed if some markets crash.

I'm using global index funds, to get a "stable" % of the global stock market increase. I'm saving up cash instead of paying off my mortgage. I'm able to do this because the rent on my loan is super low, and it pays off to invest it instead/save up cash so I can buy in when the next financial crisis comes. As long as I'm not forced to sell my appartment if/when the housing bubble bursts. Which I won't be, because I have fixed rent % on my mortgage, and I'm renting out the apartment + saved up funds, so I can take a hit, if it comes to that.

I'm also buying bitcoin, because I believe it will increase more in value over time than any stock market/housing market/savings account.

This is a long-term plan, around 10 years.

My goal is not to become "rich", but financially independent. Which means I do not want to be dependent of my employer.

I basically want FUCK YOU MONEY! ^^

this is a great post and you seldom see them here. i like your plan and would like to add to it.
i would also invest some money into gold/silver or other valuable stuff to diversify more.
there is also an aspect to think about. time. grow own veggies and buying/selling stuff can take up much time (they do not have to) and maybe your profits could be bigger if you invested that time somewhere else.

its a good plan and i think you should start as soon as possible. i wish i can make plan as you did, but i am having difficult because i only make money with the internet, and now i am trying to make money from trading.

my plan is still trading bitcoin pair altcoin, and sometimes i am trading bitcoin pair usd. i think i really need to make more money in future.

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October 11, 2016, 10:16:14 AM
 #4789

My only plan to get rich with Bitcoin is by trading in Bitcoin/Altcoins.I hope bitcoin prices would go much higher in the future.Some may prefer gambling to get rich quickly.But it is a total loss.So, the best option is trading.

Gambling will land you no where in future so its better to stay away from it and invest that money in trading where you always have an opportunity to make descent profits on regular basis.

Wait wait!
Even in gambling, for instance betting on sport games, you have good chances to make some profits when you pick the right games with good odds. This however requires that you know where to get some good relevant stats and how to use them.
It's the same with trading. When you have no idea how to read charts, or to interpret news and how to make possible low risk predictions plus taking account of money management, you're done as well and will mostly lose money constantly!
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October 11, 2016, 10:26:01 AM
 #4790

Can I live from gambling with bitcoins? Well that is my plan, for now I'm earning some low amounts, but its higher then 3 months ago. if I continue to rise my income from that maybe I have a chance. Money is for using and spending not for saving.
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October 11, 2016, 10:44:38 AM
 #4791

Can I live from gambling with bitcoins? Well that is my plan, for now I'm earning some low amounts, but its higher then 3 months ago. if I continue to rise my income from that maybe I have a chance. Money is for using and spending not for saving.
no , i don't think that gambling is a way to earn money . because it is a game of luck . and no future of gambling . we need some legit way to make money instead of gambling .
further bulk trading is a best way to make money . it has very less chance to loss .
cryptotore
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October 11, 2016, 10:47:37 AM
 #4792



this is a great post and you seldom see them here. i like your plan and would like to add to it.
i would also invest some money into gold/silver or other valuable stuff to diversify more.
there is also an aspect to think about. time. grow own veggies and buying/selling stuff can take up much time (they do not have to) and maybe your profits could be bigger if you invested that time somewhere else.
Thanks for the tip, I'll consider it. How would I do this? Do I physically buy it? Or is it some kind of stock?
Growing veggies would mainly be a hobby, that would save money as well. I already have all the gear for growing stuff hydroponically. Homegrown is also healthier and tastes better!  Grin

its a good plan and i think you should start as soon as possible. i wish i can make plan as you did, but i am having difficult because i only make money with the internet, and now i am trying to make money from trading.

my plan is still trading bitcoin pair altcoin, and sometimes i am trading bitcoin pair usd. i think i really need to make more money in future.
Thanks, hopefully it will work out! I started with this last month!
You can still make it happen. The reason I was able to buy the apartment in the first place, was because I was holding litecoin, until it spiked from 2-3$ to 35-40$
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October 11, 2016, 10:56:38 AM
 #4793

Can I live from gambling with bitcoins? Well that is my plan, for now I'm earning some low amounts, but its higher then 3 months ago. if I continue to rise my income from that maybe I have a chance. Money is for using and spending not for saving.

No you can't make a 'guaranteed, regular' income from gambling. Sooner or later you'll lose or worse go on a losing streak & it'll all come crashing down.....your life I mean.

My advice is to just get a job, work like normal people do. Bitcoin wise, buy what you can afford & HODL long term because although boring it's much more likely to bring great profits than gambling or trading.

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October 11, 2016, 11:00:53 AM
 #4794

Can I live from gambling with bitcoins? Well that is my plan, for now I'm earning some low amounts, but its higher then 3 months ago. if I continue to rise my income from that maybe I have a chance. Money is for using and spending not for saving.

No you can't make a 'guaranteed, regular' income from gambling. Sooner or later you'll lose or worse go on a losing streak & it'll all come crashing down.....your life I mean.

My advice is to just get a job, work like normal people do. Bitcoin wise, buy what you can afford & HODL long term because although boring it's much more likely to bring great profits than gambling or trading.
yeah , totally true , that gambling is not the correct way . but everything in the bitcoin needs the bulk deal to make the profit . so you can make some btc site like casino and faucet site .
well i have plan to make faucet site . to become rich .

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October 11, 2016, 11:17:43 AM
 #4795

Can I live from gambling with bitcoins? Well that is my plan, for now I'm earning some low amounts, but its higher then 3 months ago. if I continue to rise my income from that maybe I have a chance. Money is for using and spending not for saving.

No you can't make a 'guaranteed, regular' income from gambling. Sooner or later you'll lose or worse go on a losing streak & it'll all come crashing down.....your life I mean.

My advice is to just get a job, work like normal people do. Bitcoin wise, buy what you can afford & HODL long term because although boring it's much more likely to bring great profits than gambling or trading.

Exactly if you can manage to hold them for the long term then you will be making good profits from it and there is less risk in holding in compare to gambling and trading.
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October 11, 2016, 11:25:18 AM
 #4796

My only plan to get rich with Bitcoin is by trading in Bitcoin/Altcoins.I hope bitcoin prices would go much higher in the future.Some may prefer gambling to get rich quickly.But it is a total loss.So, the best option is trading.

Same here, i really love trading alt coins if i have a big enough capital that can earn me some good amounts everyday or every week, so my first target is to get a reasonable capital and then start trading alt coins with that in order to have some wealth in bitcoin industry.
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October 11, 2016, 11:46:38 AM
 #4797

Can I live from gambling with bitcoins? Well that is my plan, for now I'm earning some low amounts, but its higher then 3 months ago. if I continue to rise my income from that maybe I have a chance. Money is for using and spending not for saving.

No you can't make a 'guaranteed, regular' income from gambling. Sooner or later you'll lose or worse go on a losing streak & it'll all come crashing down.....your life I mean.

My advice is to just get a job, work like normal people do. Bitcoin wise, buy what you can afford & HODL long term because although boring it's much more likely to bring great profits than gambling or trading.
yeah , totally true , that gambling is not the correct way . but everything in the bitcoin needs the bulk deal to make the profit . so you can make some btc site like casino and faucet site .
well i have plan to make faucet site . to become rich .
Well, I have to tell you frankly faucet site will not make you rich easily, it needs a lot of time and effort on your end although you are owning a site. Maybe you should try to invest and do day trading at the same time, in that way you have a bigger chance to achieve your dreams.

.
.Duelbits.
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peta4e
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October 11, 2016, 11:49:12 AM
 #4798

Can I live from gambling with bitcoins? Well that is my plan, for now I'm earning some low amounts, but its higher then 3 months ago. if I continue to rise my income from that maybe I have a chance. Money is for using and spending not for saving.

No you can't make a 'guaranteed, regular' income from gambling. Sooner or later you'll lose or worse go on a losing streak & it'll all come crashing down.....your life I mean.

My advice is to just get a job, work like normal people do. Bitcoin wise, buy what you can afford & HODL long term because although boring it's much more likely to bring great profits than gambling or trading.
yeah , totally true , that gambling is not the correct way . but everything in the bitcoin needs the bulk deal to make the profit . so you can make some btc site like casino and faucet site .
well i have plan to make faucet site . to become rich .
Well, I have to tell you frankly faucet site will not make you rich easily, it needs a lot of time and effort on your end although you are owning a site. Maybe you should try to invest and do day trading at the same time, in that way you have a bigger chance to achieve your dreams.

Yeah and to succeed in faucet sites you also need to have high number of visitors and that is hard to expect nowadays as everyone is aware that the payouts from faucets are too low, so no one will prefer to waste their time.
Menerever
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October 11, 2016, 11:52:07 AM
 #4799

I will mind becoming rich later when I finally reached my considered assets to be considered as rich.

What important is Im getting regular bitcoin earnings without any hiatus or break. That is much better before climbing on the top stage.
JessicaSe
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October 11, 2016, 12:05:19 PM
 #4800

I will mind becoming rich later when I finally reached my considered assets to be considered as rich.

What important is Im getting regular bitcoin earnings without any hiatus or break. That is much better before climbing on the top stage.

We cannot reach on the top overnight, to reach there its always good to go step by step and without thinking of future we need to concentrate in present, as if you put hard efforts now then future will surely bring good news for us.
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