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Author Topic: What is the right number of BTC to own in order to become rich in 10 years??  (Read 3460 times)
donbu7
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May 09, 2017, 04:44:13 PM
 #1

I was wondering, how many BTC do anyone needs to own in order to become rich in 10 years.

 Smiley
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May 09, 2017, 04:49:35 PM
 #2

As many as you can buy. The funny thing about "Rich", is that the more you have, the more you want
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May 09, 2017, 04:50:51 PM
 #3

Rich is regional.  Where are you located?


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May 09, 2017, 05:06:00 PM
 #4

People will never be satisfied with what they have,they will want to have more and want to earn more and more.according to me,well 21 bitcoins would be even for you to become rich.

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May 09, 2017, 05:09:00 PM
 #5

Isnt bound to a number. Owning just 1 btc will be huge in 5 years from now.

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May 09, 2017, 05:11:58 PM
 #6

As many as you can buy. The funny thing about "Rich", is that the more you have, the more you want
You got that right.   But this is an impossible question to answer.  One ? Two?  A hundred, maybe?   It obviously all depends on the price of BTC in the future,  and none of us knows that.  My guess would be 10BTC.



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BrewMaster
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May 09, 2017, 05:17:23 PM
 #7

I was wondering, how many BTC do anyone needs to own in order to become rich in 10 years.

 Smiley

0

because all those who think this way are going to end up losing a lot of money.
in other words, in order to become rich, you need to invest a big amount. i see 21BTC and 10BTC in suggestions that is ~$37000 and $17500
and when you invest that much money in something (doesn't matter what) and they have fluctuations, specially in bitcoin with huge ones. you can not stay calm and happy.
lets say you bought 21BTC right now and price went down to $1600 you simply lose about $3000 and that is when you sell. then price goes up to $1700 and you buy again, you lose another amount of money. and so on.

instead of this mental pressure, just invest what you can afford to and hold it. if price goes down, no worries. if it goes up, no worries again Smiley

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May 09, 2017, 05:26:00 PM
 #8

All i need in this life is 500k$. For me, it is enough to feel rich.

I don't care if it is 1btc=500k$ or 500btc=500k$. 500k$ is the constant, any other number which stands on the opposite side of the equation can change freely. Because of my aim is considerably high for average people (and me), I  consider myself as a long term investor. That's why I built a portfolio of various assets and when once of those loses value dramatically, i buy more of it.

I sometimes think, i wish i've bought 20 bitcoins when it was 200$ but it is pointless now because it is past time.

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May 09, 2017, 05:35:38 PM
 #9

All i need in this life is 500k$. For me, it is enough to feel rich.

I don't care if it is 1btc=500k$ or 500btc=500k$. 500k$ is the constant, any other number which stands on the opposite side of the equation can change freely. Because of my aim is considerably high for average people (and me), I  consider myself as a long term investor. That's why I built a portfolio of various assets and when once of those loses value dramatically, i buy more of it.

I sometimes think, i wish i've bought 20 bitcoins when it was 200$ but it is pointless now because it is past time.

If you know the $ amount you can do a simple calculation.

There are many graphs out there showing the Bitcoins have increased rougly exponentially. Take one and look how many bitcoins you need in order to have $ 500.000 in lets say 2027.

Will all be speculation of course ;-)
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May 09, 2017, 06:15:16 PM
 #10

First world, I'd venture to say $10 million is rich. $3-4 million would have you wanting for nothing without going bonkers for the rest of your life.

I will hazard a guess that you'd need a minimum of 2-300 BTC just to be sure if Bitcoin properly thrives. That could be insane overkill or still not enough, but that's what I'd be aiming for.

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May 09, 2017, 06:42:04 PM
 #11

A lot of money never happens. In addition, prices will constantly increase and expenses will need more money.
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May 09, 2017, 07:15:57 PM
 #12

Rich is regional.  Where are you located?

Amen.

In almost any 3rd world country $1,000,000.00 makes you rich.

Here in downtown Toronto a million bucks barely buys you an old row house or crappy little condominium.

I'd consider $10M to be the absolute minimum to be considered rich. That's the point at which your money increases at a faster rate than you can spend it (without indulging in foolishness).

As such I'd say anything over 200 bitcoins should suffice, assuming it reaches $50K per coin by 2027. At the current price of $2440CAD per coin you'd be nearing half a million already and hopefully be a millionaire before the year is over.

A look at the all-time log chart shows that these figures are quite conservative.
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May 09, 2017, 07:19:52 PM
 #13

You really 10 Bitcoin for a fairly long time in 10 years can turn into very good condition. Of course I understand that there are users who have much more capital, but for an ordinary Bitcoin user these are golden mountains.
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May 09, 2017, 07:28:29 PM
 #14

All i need in this life is 500k$. For me, it is enough to feel rich.

I don't care if it is 1btc=500k$ or 500btc=500k$. 500k$ is the constant, any other number which stands on the opposite side of the equation can change freely. Because of my aim is considerably high for average people (and me), I  consider myself as a long term investor. That's why I built a portfolio of various assets and when once of those loses value dramatically, i buy more of it.

I sometimes think, i wish i've bought 20 bitcoins when it was 200$ but it is pointless now because it is past time.
You're not a true Bitcoiner if you keep looking at USD and you treat BTC like a way to obtain USD. The ultimate goal should be to drop USD completely in favor of BTC and be able to transact with cryptos everywhere you go starting from a public toilet and ending with a Bugatti dealership Wink

Also I can bet here and now that once you get $500 and start living on it, being able to buy all the things you need at the moment, you'll soon want more. You'll wish you had another $500k, because then you'd be able to also buy stuff for your wife, parents, kids, and so on. There's never enough money!


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May 09, 2017, 07:33:50 PM
 #15

Rich is regional.  Where are you located?

Amen.

In almost any 3rd world country $1,000,000.00 makes you rich.

Here in downtown Toronto a million bucks barely buys you an old row house or crappy little condominium.

I'd consider $10M to be the absolute minimum to be considered rich. That's the point at which your money increases at a faster rate than you can spend it (without indulging in foolishness).

As such I'd say anything over 200 bitcoins should suffice, assuming it reaches $50K per coin by 2027. At the current price of $2440CAD per coin you'd be nearing half a million already and hopefully be a millionaire before the year is over.

A look at the all-time log chart shows that these figures are quite conservative.
Canadian or USD? There's a small difference of about 300,000 depending on whether that money is Canadian or USD. I live in a small town so 1 million US would definitely be nice- I just don't like living in huge cities. My goal is to get ten Bitcoin by 2020, not as big as some people's but nonetheless that's what I'm aiming for.














 

 

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May 09, 2017, 07:38:20 PM
 #16

You're not a true Bitcoiner if you keep looking at USD and you treat BTC like a way to obtain USD. The ultimate goal should be to drop USD completely in favor of BTC and be able to transact with cryptos everywhere you go starting from a public toilet and ending with a Bugatti dealership

This why when people ask about my exit strategy or when I plan to sell, I tell them I have no such plans.

I'll simply keep buying bitcoins on the dips with whatever I earn in fiat currencies and spend my coins only as need be to buy goods, services, and as much fiat cash as I need for anything I can't buy with Bitcoin.

Canadian or USD? There's a small difference of about 300,000 depending on whether that money is Canadian or USD.

$10M CAD would be enough for me.

Mind you, that could change if the Canadian dollar continues to devalue.

I don't really sweat it though because I keep the bulk of my monetary wealth in Bitcoin.

When I bought my first bitcoins, the USD and the CAD were at par. Over the years my coins have not only earned me an obscene amount on their own growth but also an additional 30% as a safe haven against CAD devaluation. Win-win.
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May 09, 2017, 08:03:28 PM
 #17

You're not a true Bitcoiner if you keep looking at USD and you treat BTC like a way to obtain USD.

It's the most immediate and convenient way of measuring Bitcoin's buying power. I don't have any plans to return to fiat, but if I feel like spending BTC then I want to know what I can get for what equivalent amount.

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May 09, 2017, 08:49:24 PM
 #18

$10M CAD would be enough for me.

Mind you, that could change if the Canadian dollar continues to devalue.

I don't really sweat it though because I keep the bulk of my monetary wealth in Bitcoin.

When I bought my first bitcoins, the USD and the CAD were at par. Over the years my coins have not only earned me an obscene amount on their own growth but also an additional 30% as a safe haven against CAD devaluation. Win-win.
I still think that it will be US dollar to fall first, maybe not now but in 10-20 or more years it is serious possibility.
Canada seems to have more stable currency.

I share your opinion, I keep majority of my investment frozen in bitcoin.
Everyone tells me: why don't you diversify your investment portfolio and keep only a small fracture of money in Bitcoin?
It is so volatile, it can fall, there is no guarantee etc.

I usually answer them that storing fiat will only prevent inflation. Bitcoin from the other hand can bring me fortune in the future.

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May 10, 2017, 04:24:35 AM
 #19

Here in downtown Toronto a million bucks barely buys you an old row house or crappy little condominium.

maybe i've been living in a third world country for too long without looking at what's happening in other countries but this doesn't look like a old row house to me. Grin

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May 10, 2017, 05:02:34 AM
 #20

In my view I believe a person who holds a minimum of 10 bitcoin can be found rich in 10 years. I have made this prediction based on the experts view as well based on the price increase happen in relation to the increase of users and adoption happening around the world countries.

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