The only way to get rich is by riding the next big alt pump

[cellard]

This is not an altcoin thread so don't move it. This is about the people that think they are going to get filthy rich with BTC having joined the game after the big initial 2 dollars to 1k dollars rise... im sorry but I think it's not going to happen.

Don't get me wrong, if you started post 2013 and managed to buy until reaching the respectable 21 BTC goal, you will make big gains in the future, but you will not make 1+ inflation-adjusted million dollars. Unless BTC goes at least  50k in the next 10 years, I don't see it happening.

And who wants to be a tired old man to make your first million? Fuck that.

Therefore we must put our BTC to work, and that means taking big risks.

We already saw big pumps in XMR. A 2000% gainer. Problem is, "anonymous coin" hype is already over.

We also saw the big ETH gains. Problem is, "smart contracts" hype is already over.

Then you have all those interesting projects like Maidsafe, that now sound like vaporware because they always fail to deliver.

You got other projects like Steem, with horrible coin distribution that create all those ugly graphics of constant stagnation: useless for an investor.

So what else is there? I see nothing, unfortunately.

I don't see anything that can pump hard, with solid volume, that has interesting fundamentals. It seems to me that all major developments will end up as sidechains of Bitcoin eventually. Bitcoin is king, and most (if not all) altcoin gimmicks have already been done. This is good for the Bitcoin investor, but if you want to get rich, it's already late, the growth will not be strong enough for most modest holders (and by modest, lest say 21 BTC and less... and 21 BTC is already somewhat elite nowadays since most people can't afford risking that much fiat in BTC). The marketcap even if small in the grand scheme of things, it's already too big to deliver massive 1000%'s tier of gains again in a reasonable amount of time.

Therefore, those that think getting rich with Bitcoin as someone that missed the big fat boat (buying when it was 1 figure per BTC) are delusional if they think they will be millionaires within the next 2 decades or so (more and it stops matter, again who the fuck wants to wait 20+ years)

As investors, we should focus on searching for alts where we can be whales, problem is like I said before: All alts are gimmicks/lame, and the fat pumps already happened.

So that's my 2 cents there.

[1714929241]

1714929241

[Redrose]

I totally agree with you. The only way for people to get rich in a reasonable timespan is to stop trading Bitcoin for a few dollars margin, since unless they are already rich, they will not become it ! Or they would need to take some quite big risks, investing all of their bitcoins in each market movement and being always right. If they succeed, that would take time, lots of time. And that is if they succeed...

[harizen]

What is the respective amount that a user must have in order to be called as status of being a rich?

Well as much as possible I try to always follow the bitcoin trend and able to take a ride on it but not eyeing for becoming a rich as long as I get profits which is the main reason for investment purposes.

Anyways....

Therefore we must put our BTC to work, and that means taking big risks.

That's how it should as investment whether putting on btc or other alts has a big risk. Getting profits thru other alts needs some risky movement since the output isn't clear especially with the new coins on ICO.

As investors, we should focus on searching for alts where we can be whales, problem is like I said before: All alts are gimmicks/lame, and the fat pumps already happened.

So the bottom line, gambled money and hope for the best on those chosen alts. Altcoin price volatility movement is different from the phase of bitcoin price so an active volume on regular basis should help while playing with the alts.

[bittraffic]

What about ICN. Do you think its also a gimmick token?
I read this had been rising more than a hundred percent now and people are stating to invest and I also did because they offer dividends. The only wait is the platform to be released, you think this is going to make me a whale by having just 2k of it?

[Sourgummies]

Vidz, that's the next 100X that right now if flying under the radar but soon it will be on everyone's radar.

[mindrust]

What is the respective amount that a user must have in order to be called as status of being a rich?

Well as much as possible I try to always follow the bitcoin trend and able to take a ride on it but not eyeing for becoming a rich as long as I get profits which is the main reason for investment purposes.

Anyways....

Therefore we must put our BTC to work, and that means taking big risks.

That's how it should as investment whether putting on btc or other alts has a big risk. Getting profits thru other alts needs some risky movement since the output isn't clear especially with the new coins on ICO.

As investors, we should focus on searching for alts where we can be whales, problem is like I said before: All alts are gimmicks/lame, and the fat pumps already happened.

So the bottom line, gambled money and hope for the best on those chosen alts. Altcoin price volatility movement is different from the phase of bitcoin price so an active volume on regular basis should help while playing with the alts.

I would call 1million dollars as rich. 500k$ is also have a nice feeling to it but its only enough for a decent house. If you are to be considered as a rich person, you shouldn't have any financial problems in any way. A nice juicy passive income + a nice big house + a nice sport car is enough to be considered as rich i think.

Trying to chase altcoin pumps is useless by the way. It is no different than buying lottery tickets. How the fuck you would possibly know if you are investing in the right coin? You can't.

I would wait for mega bitcoin dumps to buy them cheap instead. Makes more sense.

[electronicash]

Vidz, that's the next 100X that right now if flying under the radar but soon it will be on everyone's radar.

i invested few to Vidz but i think there will be some problems once it gets popular somehow. and the thing that happens to the rest of the torrent sites may also happen to it. not to fud but i'm cautious about it this time. i'm keeping my vidz but i'm also getting ready when something happen.

[European Central Bank]

yup. for better or worse you're right. anyone with a modest amount of bitcoin, sub 100 say, won't be getting a life changing gain within a realistic time span.

at the same time it's gambling pure and simple and the alt market is just as rancid as it ever was. personally i'd prefer to avoid a life changing loss and stay out of it.

[MNDan]

Don't get me wrong, if you started post 2013 and managed to buy until reaching the respectable 21 BTC goal, you will make big gains in the future, but you will not make 1+ inflation-adjusted million dollars. Unless BTC goes at least  50k in the next 10 years, I don't see it happening.

OP's math skills seem solid, so I think he could be on to something.

[pearlmen]

Your analysis is very true tracing even the historical analysis of bit coin, then going into the future to see the possibility and also the conclusion about Alt is also very good but the issue here now is how to know the alt that is going to be next big thing for one to really be a big whale as most alts here have not been able to prove to be trusted with such responsibility.

[Biodom]

rich in US is $6.8 mil wealth of the household in liquid investments (not a house)=1% OR above $430000 in yearly income.
1 mil=accredited, but not rich

regarding OP: it always looks bad or unreliable at the bottom. I say that crypto will be either very formidable (more likely) OR will zero out (less likely). There is no middle ground, I believe. Typically, however, there are no quick riches, but there are certainly quick ways to ruin your financial standing.

You have to have a 10 year perspective in crypto/bitcoin as it will not be a smooth sailing.

[BOSA.io]

It is pretty much a hit or miss, you could also gamble with penny stocks and hope for the best..

[Flyskyhigh]

Maybe Litecoin, Feathercoin, or Mintcoin.

[cakravothy]

Maybe Litecoin, Feathercoin, or Mintcoin.

if litecoin i agree youre write
litecoin high price until reach 0.03 bitcoin/litecoin
this now litecoin is range price only 0.004 - 0.005 bitcoin
so very posible litecoin can incraese high price
but not mintcoin and feathercoin

[Febo]

If you predict how will prices move you can get really rich really fast with whatever crypto even with bitcoin.  But you can daytrade yourself in loss.

[Wolf Rainer]

Thats what i was saying in another thread. This is the right moment to take the alts train, cause even if BTC goes up or down you will win money. Im all in at ETC, ETH, DOGE, and XMR.

[Golftech]

if you can really predict which Alts will pump for sure you can be rich as the title it said but right now its harder to know which is which that will move i used to remember way back july last year as we see some alts that really moves like naut, draco, monero, and other alts who really make a big move last mid of 2016 but now they are quite and just relying with btc price.

[n0ne]

Thats what i was saying in another thread. This is the right moment to take the alts train, cause even if BTC goes up or down you will win money. Im all in at ETC, ETH, DOGE, and XMR.

Few altcoins have been found good with a good growth. But the volatility is a big issue with altcoins which were now reducin bitcoin. With altcoins profiting is easy, because at times for a short time the value is getting doubled. Also altcoins trading for bitcoin gives a good stable earning.

[target]

If you can afford to buy 200K of the existing ICOs today, you will be a whale. If their price is just low, its going to be a big profit for an investors.
Chronobank project is looking good but it ain't cheap. Each TIME token cost 0.01 btc so you will need to have about 1000 BTC to be a whale, but seeing they only got 3100BTC, investors didn't put much money to it. This alt could be the next big ride we waiting.

[pooya87]

i kinda agree with your post but at the same time i believe it is not complete. so a couple of things i would like to add:

- you wouldn't become a millionaire just by holding 1 bitcoin but i say 100% profit in about a year is still a great deal. i myself started buying bitcoin at $200 and even if someone started last year they could have earned 100% (from 450ish) and the rise is not yet done.

- the altcoins that already had a pump may have pumps but they will be smaller. but new things always come to life every year or at least every 6 months. something dies and eth got its place, eth will die and something else will come.