BITCOIN won't make you rich! Quantity is important?

[Karto]

What you are really talking about is % appreciation, the price of the coin is irrelevant.
I think that btc have more chances of making 200/300/400% gains than any other altcoin, so I'll stick with them.

is 400% is the gain you are looking for?

[twnt22]

I agree that you need to find steady/healthy alts if you're looking for that big growth. Especially if you don't already have millions to play with 

[FrankNoland]

Hello Friends,

I am new in cryptocurrency world. But as far as I understand so far, quantity is very important to make some one rich. 

For example if someone purchase one Bitcoin for $5000 and hold it for years, how much well off he can be in future? Bitcoin may rise to $25k  but still he wont be rich.   

Even if a person bought only one bitcoin at 2009, he would still not be rich today with just one bitcoin.  He will only have $5k.  All the statistics that we see that will make some one millionaire it is only if some one had hundreds of bitocins!

So, is it good idea to spend $5000 to buy just one bitcoin or spend that money to buy thousands of other coin that has potential to grow? Which one has the potential to make some one millionaire at present considering Bitcoin price is almost out of reach $5k/bitcoin ?

Thanks 

I like your thinking, however,  you have understand that bitcoin can make you rich, it will depend on how much you are willing to invest into bitcoin. The are some people with thousands of btc.

But if you can afford only one bitcoin, then best thing to do will be to use that bitcoin to buy into altcoins, those altcoins you buy might make you have more bitcoin years later.

[justin86]

The ultimate goal of people should not be getting rich with bitcoin, if you make profit it is okay. I think there are not many people who got rich buying in 2011

[chaosfourever]

Yes you have a point. The big cap coins can be ok investments but if you want to make more you need altcoims. Try to get into them early when the cap is low. Also look into coins with airdrops such as deeponion. No way you can lose and a great way to get in early

[Moana]

By now I guess that the best strategy is diversification, since you cannot reasonable foresee which coins will be successful in the long run.

[左]

The ultimate goal of people should not be getting rich with bitcoin, if you make profit it is okay. I think there are not many people who got rich buying in 2011

If I look through this board, I get the feeling that getting rich with btc is exactly the goal many people have in mind 

[Red-Apple]

i remember reading something very similar to this topic back when bitcoin was about $600ish or maybe lower. i was actually searching for it to find and post it here but i didn't succeed in finding it.

in any case this way of thinking that "bitcoin won't give you profit just because you are later than others" is nothing new. for years people have been complaining about this and price keeps rising and they complain even more but BTC price keeps rising more and more

it is also combined with another false belief that just because bitcoin could go from nothing (practically 1-10 cents) to nearly $6000 then they think altcoins that worth nothing can rise too! and reality has already proven that this has never been possible because altcoins have not yet been adopted outside of exchanges for anything meaningful!

[silent17]

I understand what you are getting, yes that true that quantity is the easiest way to earn in this kind of business. The only question here now is, what to buy, which one of the alt will surely increase