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Author Topic: Goal to shoot for: 7000 bitcoins if you want to get richer  (Read 2122 times)
Elwar
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May 10, 2013, 10:39:45 PM
 #1

http://www.businessinsider.com/rich-getting-richer-2013-4#ixzz2SvozejTH

Quote
The richest 7% of American households--8 million with more than $836,000 in net worth--did quite well from 2009 to 2011.
 
Their average net worth rose from $2.5 million to $3.2 million, a 28% jump.
 
The other 93% of American households, meanwhile, lost out.
 
Their average net worth dropped from a measly $140,000 to $134,000.

At current bitcoin prices, if you have more than 7,000 BTC you are on the safe side of the economy. Your wealth will grow while others will fall. If you can get on this boat you should be able to ride the wave of the rich getting richer and the poor getting poorer. The folks in Washington will actually be working for you.

Quote
And these consumers (the lower 93%) provide the spending that drives most of the economy. (Rich folks actually don't spend that much as a percentage of the economy).

It also shows that the wealthy are saving (hoarding) while everyone else is doing all of the heavy lifting and spending all of their money. A good lesson on how to get (and stay) rich.


Personally, I would shoot for just over 800 BTC since eventually in the next few years it will be over $1000/BTC.

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adamthefishman
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May 11, 2013, 12:02:31 AM
 #2

At current bitcoin numbers, there are only enough for 1500 people to have 7000 coins and 15,000 to have 700 coins.

For a population of 300 million, that's one in 3,000 and 1 in 30,000 respectively.

I think a few hundred coins once they become mainstream, will put you totally in the rich camp, while others will be fighting over .001 btc
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May 11, 2013, 12:54:07 AM
 #3

For a population of 300 million, that's one in 3,000 and 1 in 30,000 respectively.

So you're telling me there's a chance...

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bitman442
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May 11, 2013, 01:48:07 AM
 #4

IMO any amount of BTC will make you richer if you wait long enough. The more the better, but 7,000 is a ludicrous number for the average person. Plus there's no point in investing if the current exchange rate stays the same, hence the amount of BTC you need to invest in to reach that threshold is much lower.   
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May 11, 2013, 09:16:28 AM
 #5

too much of everything is never enough.
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May 11, 2013, 02:57:55 PM
 #6

http://www.businessinsider.com/rich-getting-richer-2013-4#ixzz2SvozejTH

Quote
The richest 7% of American households--8 million with more than $836,000 in net worth--did quite well from 2009 to 2011.
 
Their average net worth rose from $2.5 million to $3.2 million, a 28% jump.
 
The other 93% of American households, meanwhile, lost out.
 
Their average net worth dropped from a measly $140,000 to $134,000.

At current bitcoin prices, if you have more than 7,000 BTC you are on the safe side of the economy. Your wealth will grow while others will fall. If you can get on this boat you should be able to ride the wave of the rich getting richer and the poor getting poorer. The folks in Washington will actually be working for you.

Quote
And these consumers (the lower 93%) provide the spending that drives most of the economy. (Rich folks actually don't spend that much as a percentage of the economy).

It also shows that the wealthy are saving (hoarding) while everyone else is doing all of the heavy lifting and spending all of their money. A good lesson on how to get (and stay) rich.


Personally, I would shoot for just over 800 BTC since eventually in the next few years it will be over $1000/BTC.


If you can get just 3 times that, or 21,000 BTC you will have 1/1000th of all the Bitcoins that will ever be created

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May 11, 2013, 03:00:37 PM
 #7

For a population of 300 million, that's one in 3,000 and 1 in 30,000 respectively.

So you're telling me there's a chance...

Haha, reminds me of the film dummer & dummer, brilliant quote.



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Pzi4nk
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May 12, 2013, 08:15:32 AM
 #8

Of course that 7% statistic was arbitrarily arrived at, there's nothing magical about being in the top 7% it just happened to be where they decided to draw the line.

There are people at all economic levels getting richer you just have to make wise investments and don't spend more than you make.

It is only ON AVERAGE the poor are getting poorer. Each one of us can make our own financial decisions.
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May 12, 2013, 09:02:12 PM
 #9

Oh the trouble with aggregates... As if your wealth bracket dictates your income mobility...

Don't get me wrong, having more wealth makes it easier to obtain more wealth, but you can't rely on aggregates to argue that one.

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