Want to Be a Millionaire? Two Main Rules of Bitcoin Investing

[Lorik]

What I do is ICO flipping, invest in a solid project and flip your profit into another good project, it is easy to achieve 5-10X returns from ICO investment if the project has a solid team

You probably have been in this business for a long time and you know who you can work with and who you can trust to invest and earn well. In my case, it is very difficult even with the signatures of companies to work because of the lack of necessary knowledge.

[OmegaStarScream]

Time of cheap BTC is far gone, just look at the recent infighting, before the price would have suffered great but now no. If BTC reach $10,000 that is just 10X return when compare to over 2000X return some early adopter hit. What I do is to hedge my BTC profit in possible next big thing in Crypto and possibly some of them will hit 100X return in coming years for investors

I disagree personally as people could still buy bitcoin at the moment, the all time high was 1300$ but now we are down to 950-1000$ so anyone in the bitcoin community could actually see the real potentials of BTC and when we are done with the SegWit and BU debate and what to activate etc... I'm pretty sure It will be just a matter of time until we reach the moon.

[lordquanta]

It is indeed rather gold-digger attitude towards bitcoin success. Bitcoin has seen worst times and negativity, but bitcoin has recovered and rose like phoenix. There are many coins/currencies which failed to make any mark. 

[BrewMaster]

i say there is only one key strategy to becoming a millionaire with bitcoin and that is a very simple one:

step one: buy bitcoin as much as you can.
step two: move these coins to a secure cold storage and make enough proper backups.
step three: close bitcointalk, reddit and any other bitcoin related place where random people can register and anonymously spread bullshit.
step four: your mind is now at peace.
step five: in at least a year check price and thank me.

[Xenophoto]

i say there is only one key strategy to becoming a millionaire with bitcoin and that is a very simple one:

step one: buy bitcoin as much as you can.
step two: move these coins to a secure cold storage and make enough proper backups.
step three: close bitcointalk, reddit and any other bitcoin related place where random people can register and anonymously spread bullshit.
step four: your mind is now at peace.
step five: in at least a year check price and thank me.

About your step 3, then where do you suggest OP get news about bitcoin? Google? AFAIK even blog sites can anonymously spread BS. I go to reddit once in a while and then read the comment first just so I know if it's legit or not. And I know that the comments can be faked as well but at what point in life will you create multiple reddit accounts just to post anonymously and then comment on your own post with a different dummy account.

I'd say obvious BS is obvious is all.

I will not suggest once a year of checking the price because a lot of things happen on the Internet. Given that anyone can dump or pump the price of bitcoin, it will be good if you check it every now and then. Like, every weekend when you are bored or have nothing to do. It takes about 30 minutes to check the chart and check the latest news about bitcoin. That's not too much time if you want to be a millionaire, right?

[DeanShow]

Why do you think that will always be so? When bitcoin was worth 1200 people were waiting for what it will cost 1500 and even 2000, and he now is 960. Can still be 50 or even 20. If a person accidentally made a fortune it can also fail. Everything is in the hands of fortune.

[sportis]

i say there is only one key strategy to becoming a millionaire with bitcoin and that is a very simple one:

step one: buy bitcoin as much as you can.
step two: move these coins to a secure cold storage and make enough proper backups.
step three: close bitcointalk, reddit and any other bitcoin related place where random people can register and anonymously spread bullshit.
step four: your mind is now at peace.
step five: in at least a year check price and thank me.

Interesting strategy; but buying today about $1000 per coin and after one year if there is a hard fork and a split of the block chain and bitcoin has lost its value or maybe someone is in the wrong side of the chain what will be happen? All about bitcoin's future and price are only rumors and speculation. Everyone has to do his/her own research and decide himself without to be affected by anyone.

[lionheart78]

All about bitcoin's future and price are only rumors and speculation. Everyone has to do his/her own research and decide himself without to be affected by anyone.

Even if we keep on researching about Bitcoin, assuming you are right about it being speculations and rumors, then there is no sense in researching and finding truth about Bitcoin since all you can gather are all rumors (as you are saying) and speculations.

Interesting strategy; but buying today about $1000 per coin and after one year if there is a hard fork and a split of the block chain and bitcoin has lost its value or maybe someone is in the wrong side of the chain what will be happen?

You have doubled the amount of your BTC, but well pricewise it is still dependent on the demand in the market.  If a fork or a split in chain happen and you have access to the private key of your Bitcoin, all your Bitcoin is safe and if you will run your wallet on both  chain, you balance  will appear.  This mean you have the same amount of Bitcoin from before the fork and after the fork but this time they are on both chain.

[bncbnc]

All about bitcoin's future and price are only rumors and speculation. Everyone has to do his/her own research and decide himself without to be affected by anyone.

Even if we keep on researching about Bitcoin, assuming you are right about it being speculations and rumors, then there is no sense in researching and finding truth about Bitcoin since all you can gather are all rumors (as you are saying) and speculations.

Interesting strategy; but buying today about $1000 per coin and after one year if there is a hard fork and a split of the block chain and bitcoin has lost its value or maybe someone is in the wrong side of the chain what will be happen?

You have doubled the amount of your BTC, but well pricewise it is still dependent on the demand in the market.  If a fork or a split in chain happen and you have access to the private key of your Bitcoin, all your Bitcoin is safe and if you will run your wallet on both  chain, you balance  will appear.  This mean you have the same amount of Bitcoin from before the fork and after the fork but this time they are on both chain.

i think it is more important that  your investment to have good strategy and planning  and good knowledge about trading they you can surely make good profit from trading.

[Kemarit]

Time of cheap BTC is far gone, just look at the recent infighting, before the price would have suffered great but now no. If BTC reach $10,000 that is just 10X return when compare to over 2000X return some early adopter hit. What I do is to hedge my BTC profit in possible next big thing in Crypto and possibly some of them will hit 100X return in coming years for investors

I disagree personally as people could still buy bitcoin at the moment, the all time high was 1300$ but now we are down to 950-1000$ so anyone in the bitcoin community could actually see the real potentials of BTC and when we are done with the SegWit and BU debate and what to activate etc... I'm pretty sure It will be just a matter of time until we reach the moon.

Exactly mate. You could still buy bitcoin now and made profits in the long run. We do not need to emphasize the potential of bitcoin to gain profit, its all over here in our community. If you still haven't seen it then it will be your lost. At the current price of $970 and you buy it then bitcoin price rise at the steady $1100-1300 then you already profit. Only thing with bitcoin is you have to invest in the long term, to fully maximize its potential and your profit. Forgot about the BU vs Core drama, it doesn't matter, bitcoin market price will rise soon and we will see $1500-2000 at the end of the year.

[n0ne]

What's been described by op is all about the early adopters. During the early days very few believed such an evolution in technology will profit us. Also at that time the price was quite an affordable one even for a common man who completely depend on day job for all his nees, savings and investment. Now with the current price it's not that easily affordable for common men.

[UnknownEye]

What a retarded title. There are no main rules of investing, you do what you feel and what you want not what people suggest especially ones that have little to no clue.

[beerlover]

i say there is only one key strategy to becoming a millionaire with bitcoin and that is a very simple one:

step one: buy bitcoin as much as you can.
step two: move these coins to a secure cold storage and make enough proper backups.
step three: close bitcointalk, reddit and any other bitcoin related place where random people can register and anonymously spread bullshit.
step four: your mind is now at peace.
step five: in at least a year check price and thank me.

Interesting strategy; but buying today about $1000 per coin and after one year if there is a hard fork and a split of the block chain and bitcoin has lost its value or maybe someone is in the wrong side of the chain what will be happen? All about bitcoin's future and price are only rumors and speculation. Everyone has to do his/her own research and decide himself without to be affected by anyone.

Right now with the current price, it is tough to put $1000 into a whole bitcoin considering it is not a sure thing, I mean investing in it a while ago was good because it was a new thing and everyone wanted to support it but with time going by I don’t want to be a bad person here but bitcoin is becoming lam aside from the fees.

[jakelyson]

Bitcoin is not that cheap anymore. You'll need million dollars investment in order to make millions. It is no different with investing in stocks. Luckily there are still cheap altcoins you can invest on and hope that will get pricey in the future. If you put your money on the right altcoin, it will make you millionaire someday.

[bryant.coleman]

What a retarded title. There are no main rules of investing, you do what you feel and what you want not what people suggest especially ones that have little to no clue.

Have to agree with you there. In the past, I have followed advice from various market researchers and economists. I always ended up in a loss. After that I stopped following their advice, did my own research and took my own decisions. I am able to get an annualized ROI of almost 20% for the past 4-5 years. So here is my advice. Take your own decision, and listen to none.

[Harlot]

Well with a price of 26.60 per Bitcoin there is no doubt that you will be tremendously rich with Bitcoin's price right now. But being a millionaire by investing to Bitcoin with its price right now is not that possible, you might want to consider other options besides Bitcoin. Think outside the cryptoworld because there are many stocks right now who have good financial backgrounds and projects that are promising for investors. I don't expect Bitcoin to have an great increase in price compared to what happened in the past years.

[Roboabhishek]

Actually, i think he was lucky to buy bitcoins in that year but sadly I didn't know about bitcoins till 2014 and I was 15 at that time and can't purchase even for 200$/btc.
In this world only lucky people get the chance to fulfill their dreams.

[Xester]

i say there is only one key strategy to becoming a millionaire with bitcoin and that is a very simple one:

step one: buy bitcoin as much as you can.
step two: move these coins to a secure cold storage and make enough proper backups.
step three: close bitcointalk, reddit and any other bitcoin related place where random people can register and anonymously spread bullshit.
step four: your mind is now at peace.
step five: in at least a year check price and thank me.

Bitcoin updates are very crucial in determ ining what will be the potential events that will hit bitcoin and thus it is also necessary for the holder to watch over the market. Bitcoin is very volatile and saying that you will just check it at the end of the year is a dangerous and risky thing to do. If you will do that you will probably will lost a big amount.

[MattScott]

i say there is only one key strategy to becoming a millionaire with bitcoin and that is a very simple one:

step one: buy bitcoin as much as you can.
step two: move these coins to a secure cold storage and make enough proper backups.
step three: close bitcointalk, reddit and any other bitcoin related place where random people can register and anonymously spread bullshit.
step four: your mind is now at peace.
step five: in at least a year check price and thank me.

Bitcoin updates are very crucial in determ ining what will be the potential events that will hit bitcoin and thus it is also necessary for the holder to watch over the market. Bitcoin is very volatile and saying that you will just check it at the end of the year is a dangerous and risky thing to do. If you will do that you will probably will lost a big amount.

I also think that bitcoin has not yet reached the bottom so now it is too early to tell the acquisition of bitcoins for the purpose of investment. Maybe when bitcoin will be at $ 20 I'll buy myself some coins.

[Bitcotalk]

I think this is a bad way of thinking about bitcoin and advertising it. "get rich quick with bitcoin!"

whenever I tell anybody about bitcoin, be it a friend or family or someone on the internet, I have always tried to stick to the benefits of it being used as a currency not an investment. and we need more users who adopt bitcoin as a currency in my opinion, rather than more speculators to play around with the price and make more $$$ in return when they dump and exit.

I favor your point to support the idea that whenever we invite someone to bitcoin we have to tell them about the uses and its benefits of bitcoin but there is a bunch of community in our world who have benefit the technology but only if they will earn money from it.