Is this Forum full of 'normal people' who over the years became filthy rich?

[aso118]

Hi there

I was thinking
Bitcoin must have created a biiig amount of new millionairs, doesn't it?
I mean people who got interested in bitcoins early, liberals, doomsday government critics, criminals and drug users who used silk road, normal poor people like me. There must be a vast amount of cracy stories of people finding themselves filthy rich.
Did you get rich? Would be very interested in stories.

Mine:
I invested about 10k in bitcoin at about 600 usd, that was about 4 years ago. Was all my money at that time, i saved it in the 6 years before that. Read some book about where to safely invest that did not mention bitcoin at all, then i saw video about bitcoin and put money there.
Then it went lower for more than a year, down to 200usd. When it finally went over 600 again, i sold 1/3rd, argh
So it's about 8x to 80k now. Great stuff, but 80k is not exactly big money. (But it's big compared to my income, it's about 8 years of my salary actually)
Stupidly i did not put my money i saved in these years into bitcoin.. i just did put it again into Bitcoin recently - i decided to go all in again. The bet is that bitcoin goes to 7k or above in next 5 years. (If it goes below 3500 i start to lose my not-yet-realised wins, if it goes to 7k i will have 200k, if it goes to 15k i will have 400k; - 200k and 400k (euros) means different amounts of financial freedom for me: of not 'having' to work to just survive, but to have income through just having money. (6% interest of 200k is 12k euros per year. I can live off that)

A lot of people have made money, but most of them haven't become filthy rich.
You put in a years worth of salary when it was at USD 600? That was really brave, my friend. Just wait for some more time and you can settle down. I am sure it will go to 7K and then you will have your targeted 12K euros per year.

[BitcoinMuscle]

Hi there

I was thinking
Bitcoin must have created a biiig amount of new millionairs, doesn't it?

Not realy. I dont think there exist more than 10 people on this world who got rich with bitcoin(not talking of big investors, we talk about normal people)

I mean people who got interested in bitcoins early, liberals, doomsday government critics, criminals and drug users who used silk road, normal poor people like me. There must be a vast amount of cracy stories of people finding themselves filthy rich.

People who got interested earlier in bitcoin sold it when the price was increasing and they would be in profit. I dont think anyone will keep their investments on if they made a x10 profit from the initial investment.
Also there are a lot of people who buyed bitcoin in 2010 and still have it in wallet. But even if they remember about that, I am sure their wallet informations are lost

[600watt]

when btc hits $5k everyone who owns 200 btc is a $-millionaire. in February/march 2013 200 btc would have cost $10k.

the last time bitcoin was "cheap" was in august 2015. 200 btc would have a price tag of $40k if bought on the dip of august 24th.

i do not think there were many average people that threw in $40k in august 2015. it was still not clear if the ongoing downtrend that started in december 2013 was over.

[slyfox]

The people who got rich in recent years, say post mid 2013, would really have to have jumped into alts in a major way unless they piled in a suicidal amount into BTC. Even then they still would've depended on the right timing. Lots sold far too early with alts too. ETH was 50c for a good while, LTC sub $1, XMR 25c and that's when BTC was still in the hundreds of dollars.

I think we'd be surprised how few people timed it perfectly and how outrageously well a select few have done out of pure luck.

10k in 2013 was a lot and indeed still is. I dunno how many people would've gone further in.

At the end of the day even a good trader needs luck once in a while, those people that invested at those prices made money but only a few will be able to come close to maximize their profits, we call those people genius or lucky depending on their reasoning.

[Vahnt]

I doubt many people had the conviction to hold their coins bought in the single/double digits all the way to today. I've always found it quite fascinating that BTC has an almost built-in distribution system, whereby initial early adopters have large stashes of coins but subsequently cash those out at a certain profit level, where they are redistributed among a larger userbase, and the cycle repeats as the price continues to rise over time.

[HabBear]

Invest only the amount you can afford to lose. Otherwise, Bitcoin will destroy your personality.
There are only 2 results ... Bitcoin drops to zero or will be worth $ 1,000,000.

Wait 10 years and you will be "filthy rich" or nothing will change (if you invested only amount, you can afford to lose) :-)

If these are the only two options you're going to be VERY disappointed. The likelihood of either option becoming reality is incredibly low. It'll be some where in the middle and we're probably closer to Bitcoin's true value today than $1,000,000.

Let's not get crazy with this talk, it makes it easy for newbies to move on to something else.

There are less than 500,000 person in the world who own 10 BTC.

I find this very hard to believe. Any stats to back it up?

[TravelMug]

Hi there

I was thinking
Bitcoin must have created a biiig amount of new millionairs, doesn't it?
I mean people who got interested in bitcoins early, liberals, doomsday government critics, criminals and drug users who used silk road, normal poor people like me. There must be a vast amount of cracy stories of people finding themselves filthy rich.
Did you get rich? Would be very interested in stories.

Mine:
I invested about 10k in bitcoin at about 600 usd, that was about 4 years ago. Was all my money at that time, i saved it in the 6 years before that. Read some book about where to safely invest that did not mention bitcoin at all, then i saw video about bitcoin and put money there.
Then it went lower for more than a year, down to 200usd. When it finally went over 600 again, i sold 1/3rd, argh
So it's about 8x to 80k now. Great stuff, but 80k is not exactly big money. (But it's big compared to my income, it's about 8 years of my salary actually)
Stupidly i did not put my money i saved in these years into bitcoin.. i just did put it again into Bitcoin recently - i decided to go all in again. The bet is that bitcoin goes to 7k or above in next 5 years. (If it goes below 3500 i start to lose my not-yet-realised wins, if it goes to 7k i will have 200k, if it goes to 15k i will have 400k; - 200k and 400k (euros) means different amounts of financial freedom for me: of not 'having' to work to just survive, but to have income through just having money. (6% interest of 200k is 12k euros per year. I can live off that)

Certainly. A lot of early adopters have been rich with their bitcoin investments. There are stories out here in the forum, you can dig it yourself. I'm still far from that category of 'filthy rich'. But I have made significant gains my own. I made several investments and I'm still continuing to buy in dips to increase the amount of my holdings. I'm in it for the long term although its gonna be a long road ahead of me, I'm not in a hurry though. If you are familiar with the pizza guy, who bought pizza for a whooping 10,000 bitcoins. He is should a millionaire by now. He was truly a legendary and trailblazers. But imagine how much 10,000 is today.

https://bitcointalk.org/index.php?topic=137.0

[ipanks]

early adopters can be a richest person if they still hold and only sell some part of their bitcoin right now but they still keep their bitcoin for another high price. mostly people selling their bitcoin when they see some range of price like btc reach $1000, $2500, $3500, $4000, $5000 but they don't waiting for a long term when bitcoin can really reach $10,000. they are thinking that this is the highest price of bitcoin that could reach and maybe they need to wait for one year or two year later to sell more than the price now.

i think if we want to sell most or all of our bitcoin, we need to have a limit of price for example, i want to sell my bitcoin when the price is reach $10,000 so no matter the price is reach $7,500 or more, we don't sell it because we want the higher price. i am trying to not being a weak hand just to see the price is increase but i am waiting until the price is at the high price maybe $10,000 then i will sell my bitcoin.

[adaseb]

Basically if you want proof just look at the unspend transaction according by date

https://utxo-stats.com/

Many people who invested in Nov 2013, are still hodling. Same with people who invested in 2011 and who invested in mid 2015.

[slyfox]

when btc hits $5k everyone who owns 200 btc is a $-millionaire. in February/march 2013 200 btc would have cost $10k.

the last time bitcoin was "cheap" was in august 2015. 200 btc would have a price tag of $40k if bought on the dip of august 24th.

i do not think there were many average people that threw in $40k in august 2015. it was still not clear if the ongoing downtrend that started in december 2013 was over.

I think the same, I do not think there are many people from that time that are rich yet, many of the people that made a lot of money invested in bitcoin earlier than that however anyone that invested in bitcoin at that time is in a very good position right now.

[atc1-REAL]

Unless people held on from the beginning, which wouldve been hard due because some people had 25-100 btc at the time when it hit $1000 in 2013-14, they wouldve sold it then. In 2015, it was around $300, meaning people didnt see it as a valuble investment anymore. So, most wouldve converted their btc at that time itself,and would most likely not be holding enough to make them millionares.

[Lieldoryn]

The interesting thing is that these people do not have. Think about the fact that many people become millionaires, but all sold their bitcoins for a long time and now can only regret. Millionaires thanks to bitcoin only became whales. But they were millionaires before the advent of bitcoin. I think that the price of bitcoin is only due to their ability to manipulate prices in the markets.

[StockBet.com]

I'm starting to see people on Youtube showing off their Bitcoin found wealth.

One guy bought a Lamborghini.  Another guy is showing his view of the ocean.

[dunfida]

Invest only the amount you can afford to lose. Otherwise, Bitcoin will destroy your personality.
There are only 2 results ... Bitcoin drops to zero or will be worth $ 1,000,000.

Wait 10 years and you will be "filthy rich" or nothing will change (if you invested only amount, you can afford to lose) :-)
There are less than 500,000 person in the world who own 10 BTC.

There are more millionaires than ever in the United States. As of the end of 2016, there were a record 10.8 million millionaires nationwide, according to a new study from Spectrem Group's Market Insights Report 2017. That's more than ever before and marks a 400,000 person increase from the previous year.

May I know the link where these information can be seen? I cant search where that 500k person in the world who do owns 10 btc. If you do pertain on most rich bitcoin wallet then I would assume that wont be an accurate number because we cant able to tell that those holders do have still the access of such wallets and for sure there are lost bitcoin or wallets on the list so theres still no accurate number on this one but rest assured there are lots of normal people who did become filthy rich because of bitcoin specially on early adopters of it.

[1Referee]

I'm starting to see people on Youtube showing off their Bitcoin found wealth.

One guy bought a Lamborghini.  Another guy is showing his view of the ocean.

Are you referring to one of these search results? -> https://www.youtube.com/results?search_query=bitcoin+lambo

It's all cool with me, and I hope that more and more people will be able to fulfull their dreams with their crypto wealth. I have a great respect for people who kept holding their coins through each and every drama situation that we went through. I personally find it far too early to start celebrating already, which is why I am not spending any of my coins. I must however admit that some times it's quite tempting to start using my coins to buy something with, but I have enough patience and dedication to continue to hold my coins firmly. No matter how 'high' the price might look for some people, it's still peanuts for me. People buying a lambo at current levels will look back after six or so months, and see that if they had more patience, they could have bought themselves two lambo's with the same number of coins.

[Biodom]

bitcoin is a very strange creature.
spend it, then regret it.
every time I spend a little without replacing, further price growth makes my decision silly.

However, without spending, what's the point? You cannot take it beyond and I have limited belief that my distant (in time) relatives would be able to hold to any btc whatsoever.

My sincere hope is for btc to rapidly climb to some kind of equilibrium spot as soon as possible (be it at 50K, 100K or 1mil/btc), then BE STABLE (+/-10%/year). This would make btc truly spendable.
Those who think that prices around 6K are maximum or close to it-it is impossible just by doing a comparison with the number of $$/euro/yen/yuan sloshing around.
We would be at 50-100K if ONLY millionaires invested 1% of their funds in btc and nobody else did.

[ApocalypseNow]

I believe this is true. There might be few that did not get lucky with crypto but I know that many of the members made a thousands or millions of money by being active here not only in the forum but also in trading and mining in just a few years.

[DustyRah]

heh

[BristonB17]

My first purchase was August 1, 2015, buying sporadically during dips.. on 8/25/15 I bought 1.33999999 for $302.05, I made several of these buys, 1.33999999 for less than $400...   I don’t remember why I bought at the time, but I know since about that time they’ve basically been on a 26 month rally, excluding a few crashes mixed in there.   I had 80% of my bitcoin by December 3, 2016, and have held on for the ride this year.  I also own a business, and have never invested more than I could afford to lose, the “Golden Rule” of investing in Crypto. 

I know there will never be more than 21M Bitcoin, and somewhere I read that having 21BTC will basically set you up for life someday, and at the time 21BTC was much less than $20k, so I took a shot w this and obviously I’m glad I did. I have a significant 2nd income from my business, so I don’t plan on selling anytime in the  foreseeable future.   I’m going to see this thing out where it goes, and if I lose everything, I never seen invested more than I could afford to lose, so I’m my mind I’ve already chalked it up as a loss, or money that’s not useable for m for at least another decade.   

[600watt]

when btc hits $5k everyone who owns 200 btc is a $-millionaire. in February/march 2013 200 btc would have cost $10k.
(...)

with reaching $6K now that number shrunk to 166 btc.