My personal challenge: $1,000 to $1 Million

[Bonenx14]

sometimes we need to challenge ourselves, if we succeed then we have succeeded in going further than before. You only need to focus when holding, because 8 years is not a short time. and finally make sure you still have other free funds for important purposes outside of investment, because this can disrupt investments that are being carried out.

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[wozzek23]

Nobody can deny that it is "technically and mathematically" possible, of course you can actually go into crypto world and make your 1k into 1M but that doesn't mean it will be possible as well. This is one of those things that financial people say "possible but unlikely" there are not many people in the world who can make that much profit in 8-10 years and that is why there is only one Warren Buffet who makes on average 20% per year and that is enough for people to give all their money to him, just 20% year and becomes one of the richest people on earth whereas your ambition is even bigger.

Long story short, I would probably go for a smaller aim, like maybe 1k to 100k? That is much better and actually sounds very reasonable as well compared to 1M, at least you can get that 1k to something decent and make your job easier for the rest.

[jouesurf]

They laugh at you because it is not realistic, there is no holy grail investment where your $1000 can become $1M in just 10 years. Trading can help us to increase our portfolio but we should expect realistic outcome. You cannot easily achieve $1M if your capital is too low. I only saying that the probability achieving this goal is too short because of the risks in the market.

Technically it could be possible even for someone who is not a professional daily trader. Example:
1. Some time ago, you bought 10 BTC for $100 each. You had been HODLing it until 2017 peak (and sold for $16000/BTC) - when mass media was all about BTC
2. You waited carefully to the bottom, hearing about crypto nuclear winter - bought BTC when in December 2018 it was for $4000. If you invested all cash from 2017 sale of BTC, you would have had 40 BTC.
3. Next, you waited until that small hype of July 2019 and sold all 40 BTC for $12000 each. $480000 it is.
4. As in previous year, you waited until the December bottom took place, and bought at ~$7000/BTC. As a result you have in your wallet almost 70 BTC
5. If BTC will go back to $20000 levels this year as expected by many, the value of that wallet is going to be ~$1400000

Of course, if we deduct the income taxes (if applicable), the value of wallet at point no. 5 would be closer to $1M not 1,5M.

That actually does sound like a super plan

[jouesurf]

What is your strategy to increase from 1000$ to 1 million $ within 10 years? You will do daily trading to earn profit and accumulate every day, or you will try to find a certain altcoin and hold for 10 years and if lucky, your investment will increase to $ 1 million ? Also why are you providing a strange link here? it's best to update this topic regularly and that will get people here paying attention to your insanity

I have updated my original post with more details

[jouesurf]

What is your strategy to increase from 1000$ to 1 million $ within 10 years? You will do daily trading to earn profit and accumulate every day, or you will try to find a certain altcoin and hold for 10 years and if lucky, your investment will increase to $ 1 million ? Also why are you providing a strange link here? it's best to update this topic regularly and that will get people here paying attention to your insanity

There's no information about that here it seems that OP is promoting his website and he wanted readers to click his link before they will have an idea to whatever OP wanted to share here.
Chasing for a big outcome is not bad especially if you are well motivated as positive approach will keep you to push more harder in achieving your goals.

OK, so link is removed now and I have added more comments. I haven't really posted much in my life so gotta learn the ropes...

[jouesurf]

It must have been my post then.

Things were not proper and I changed the bad parts of the site after the feedback.

Back then I tried to explain and convey that I am not promoting or whatever anything but I agree the page was not great for that. I did apologize for the misunderstanding too.

The page will remain as it is (unless I get feedback that I should change something again), all I will do is update with results.
Actually I removed the email address, that should prove further my good faith, I hope.

I just wanted people to root for me and see it can be done (if I manage to do it ofc)

I would love to watch you doing the challenge alone, with your own capital, without any other's capital in your account so I can see the pure result on it.

Hum, not sure to get what you mean, it's just me, with my own money, that's all...

[jouesurf]

Nobody can deny that it is "technically and mathematically" possible, of course you can actually go into crypto world and make your 1k into 1M but that doesn't mean it will be possible as well. This is one of those things that financial people say "possible but unlikely" there are not many people in the world who can make that much profit in 8-10 years and that is why there is only one Warren Buffet who makes on average 20% per year and that is enough for people to give all their money to him, just 20% year and becomes one of the richest people on earth whereas your ambition is even bigger.

Long story short, I would probably go for a smaller aim, like maybe 1k to 100k? That is much better and actually sounds very reasonable as well compared to 1M, at least you can get that 1k to something decent and make your job easier for the rest.

Honestly, 100k is 10x and I have done that already, so I am really confident about getting there over time

[Baoo]

In general, It is pretty interesting when you challenge yourself like
 this way, but to be honest you can achieve this goal is less than 4 years ( not 10 or 8 ) but trust me, when you focus on just a single strategy then you will probably fail to achieve your goal. Make sure that the unexpected incidents are always occur in life, So many strategies should be planned, they should be defintely different from each other ( 3 strategies would be enough ) .

Furthermore, you don't need to spread your future endeavors to your friends or even in public with strangers, keep working on your goal or dream and try to ignore all the negative people in your life .
Trust yourself and don't give up. Wish you a good luck.

[jcpone]

Hey everyone,

First I will say that I am not offering or advertising anything, I am not and will not take any money.

I have been trying things here and there and after some good success decided to give myself a proper challenge! I will try to go from $1000 to a Million in less than 10 years (the baseline is 8 years).

While making the calculations I actually realized that as crazy as this challenge is already, 8 years is a long time haha.

Anyway, my friends were kinda laughing at me for this. They also told me to share with other people to make it even more official. I actually thought it was a good idea, you know like when you take some resolutions but fail to hold up to them? It helps to tell everyone about them so that you feel more pressure to actually do the work. So I made a quick website to show them how I am doing!
Hopefully I will succeed and not shame myself....


Wish me courage and luck!
Cheers

*EDIT* - Decided to add some details from reading the comments

*About me*
As far as I remember I have been trying to find ways to make money aside from my jobs, with very diverse success.  In 2010 (I think it was) I found out about Bitcoin, mined a bit for the fun of it but dropped the case soon enough (what a shame). A few years later it really picked up and I found myself with a couple grands of "free" cash. So I decided to use that as a bankroll.

*What this is about*
I do trade, and been doing this for years, but it's really investment-like, long term and not very risky so it comes with low return.
What I mostly do within the frame of this challenge is Sports Betting (90%).
Although I believe there is room for BTC price to increase significantly, I do not consider it in my calculations, it's all about return. If the price shoots up, then awesome, if it doesn't then all good, if it goes down, then it's a problem.
The reason I am using BTC is because the platforms/sites I use only have cryptos. But I am considering going into a stable coin.

To succeed, I need to make 8% per month, that would mean I've become a Millionaire in 8 years.

*RESULTS*

Sep-19:  account = $1,126  ROI = 12.60%  Target = 8%
Oct-19:  account = $1,435  ROI = 13.16%  Target = 16.64%
Nov-19:  account = $2,601  ROI = 42.29% Target = 25.97%
Dec-19:  account = $5,074  ROI = 6.92%  Target = 36.05%

PS: since it seems to be too much of a problem, I have removed the link to my website (although I was quite proud of how it looks
PS2: at the moment it is not possible for me to undeniably prove my results (but since I am not selling anything, do I have to? I guess that would be cool), but one of the platform I use might make results publicly available so let's see...

In the first place, no offense to you dude, it is very hard for the newbie like you to give our trust so easily. We as a community are just being careful for the phishing site that has been arises here in crypto space, as you all know they'd been scattered everywhere, so clicking any link is not advisable to do it instantly. Especially if the link is being suspicious.

[Savemore]

It's a very ambitious plan.
I have a few questions though, since the ones that may be following this find this useful (maybe you should even put it onto your website).
1. Do you have any trading background / experience (crypto, forex, stocks)?
2. Do you use trading and/or arbitrage bots?

I'd like to also warn you that you should use at least 2 different ways of trading, and/or not trade always "all in" because the bigger fluctuations may make you lose everything. Of course, if you have big experience you know this very well.

Good luck and happy fishing 

Most of the answers are saying it is possible but for me it is not possible. Even professional traders will see it as unrealistic because of the high expectation. Maybe if he will increase more his capital then there is possibility that he can achieve his goal. I'm a trader with 3 years of experiences and doubling my fund takes months for me. I have also having a hard time when the market is bear because of the selling pressure.

[jouesurf]

Hey everyone,

First I will say that I am not offering or advertising anything, I am not and will not take any money.

I have been trying things here and there and after some good success decided to give myself a proper challenge! I will try to go from $1000 to a Million in less than 10 years (the baseline is 8 years).

While making the calculations I actually realized that as crazy as this challenge is already, 8 years is a long time haha.

Anyway, my friends were kinda laughing at me for this. They also told me to share with other people to make it even more official. I actually thought it was a good idea, you know like when you take some resolutions but fail to hold up to them? It helps to tell everyone about them so that you feel more pressure to actually do the work. So I made a quick website to show them how I am doing!
Hopefully I will succeed and not shame myself....


Wish me courage and luck!
Cheers

*EDIT* - Decided to add some details from reading the comments

*About me*
As far as I remember I have been trying to find ways to make money aside from my jobs, with very diverse success.  In 2010 (I think it was) I found out about Bitcoin, mined a bit for the fun of it but dropped the case soon enough (what a shame). A few years later it really picked up and I found myself with a couple grands of "free" cash. So I decided to use that as a bankroll.

*What this is about*
I do trade, and been doing this for years, but it's really investment-like, long term and not very risky so it comes with low return.
What I mostly do within the frame of this challenge is Sports Betting (90%).
Although I believe there is room for BTC price to increase significantly, I do not consider it in my calculations, it's all about return. If the price shoots up, then awesome, if it doesn't then all good, if it goes down, then it's a problem.
The reason I am using BTC is because the platforms/sites I use only have cryptos. But I am considering going into a stable coin.

To succeed, I need to make 8% per month, that would mean I've become a Millionaire in 8 years.

*RESULTS*

Sep-19:  account = $1,126  ROI = 12.60%  Target = 8%
Oct-19:  account = $1,435  ROI = 13.16%  Target = 16.64%
Nov-19:  account = $2,601  ROI = 42.29% Target = 25.97%
Dec-19:  account = $5,074  ROI = 6.92%  Target = 36.05%

PS: since it seems to be too much of a problem, I have removed the link to my website (although I was quite proud of how it looks
PS2: at the moment it is not possible for me to undeniably prove my results (but since I am not selling anything, do I have to? I guess that would be cool), but one of the platform I use might make results publicly available so let's see...

In the first place, no offense to you dude, it is very hard for the newbie like you to give our trust so easily. We as a community are just being careful for the phishing site that has been arises here in crypto space, as you all know they'd been scattered everywhere, so clicking any link is not advisable to do it instantly. Especially if the link is being suspicious.

I understand, yeah. Thanks.

[Linkkoin]

That actually does sound like a super plan

Of course if the BTC price will behave like in the past and the media and community will behave the same as in the past. And that you will not fall into one of the traps and start panicking.

[Japinat]

Nothing is impossible in crypto, I hope you success OP.
$1,000 to $1 Million is a very ambitious journey, but if it's achievable in long term hold, it could also be possible through active trading.

Good luck, x1,000 of your capital is quite hard to achieve now that we are not anymore in the early stage but your dedication will make it possible.

[aomakun]

Nothing is impossible in crypto, I hope you success OP.
$1,000 to $1 Million is a very ambitious journey, but if it's achievable in long term hold, it could also be possible through active trading.

Good luck, x1,000 of your capital is quite hard to achieve now that we are not anymore in the early stage but your dedication will make it possible.

if this experiment is successful then I hope the OP can provide a positive outlook for those who want to invest in this industry. the investment journey that will be carried out must be very interesting, because the capital spent by him is quite large and the time in holding can be said to be quite long, and his patience will definitely be tested in this investment.

[NavI_027]

Nothing is impossible in crypto, I hope you success OP.
$1,000 to $1 Million is a very ambitious journey, but if it's achievable in long term hold, it could also be possible through active trading.

Good luck, x1,000 of your capital is quite hard to achieve now that we are not anymore in the early stage but your dedication will make it possible.

I don't want to burst OP's bubble but I think waiting for his money to grow up to 1 million will take him forever. Don't get me wrong, I believe that he can definitely make profit in due time but 1M is too big. If you really want to attain that dream then don't just wait and depend on the power of time, he should grind by means of doing trading or maybe business or any kind of investment .

[jouesurf]

Nothing is impossible in crypto, I hope you success OP.
$1,000 to $1 Million is a very ambitious journey, but if it's achievable in long term hold, it could also be possible through active trading.

Good luck, x1,000 of your capital is quite hard to achieve now that we are not anymore in the early stage but your dedication will make it possible.

I don't want to burst OP's bubble but I think waiting for his money to grow up to 1 million will take him forever. Don't get me wrong, I believe that he can definitely make profit in due time but 1M is too big. If you really want to attain that dream then don't just wait and depend on the power of time, he should grind by means of doing trading or maybe business or any kind of investment .

and that's definitely the plan!

[dunfida]

Nothing is impossible in crypto, I hope you success OP.
$1,000 to $1 Million is a very ambitious journey, but if it's achievable in long term hold, it could also be possible through active trading.

Good luck, x1,000 of your capital is quite hard to achieve now that we are not anymore in the early stage but your dedication will make it possible.

Everything is possible but its almost impossible to reach it up on short time and as mentioned we arent already on early stage where
reaching these numbers isnt really that realistic.Frankly speaking it would really come to a time where you do get bored without even
reaching your goal.Well, this will vary or depend on ones dedication if he would pursue or not.
$1k to $1M? Its almost an impossible journey.

[Landak]

Nothing is impossible in crypto, I hope you success OP.
$1,000 to $1 Million is a very ambitious journey, but if it's achievable in long term hold, it could also be possible through active trading.

Good luck, x1,000 of your capital is quite hard to achieve now that we are not anymore in the early stage but your dedication will make it possible.

even so it will take a very long time to reach that target. not to mention, if he suffered a loss in the middle of the road, there is certainly not everything will always run smoothly.
I even imagined the fastest way to reach that target, namely by gambling not by trading or investing. personally, with a capital of 1k and 1m target is very difficult especially if impatient.

[supercanada1]

in my opinion no one wants to follow or monitor your progress, eight years is not a short time, people won't waste their time for eight years just following your trade, unless you provide commensurate rewards every week or every month.

That is really a long time and some people may forget him in that period but that give us a lesson that if we hold like him then one day we will also be millionaire. It is also a guideline for some people who do not know that for how much time they have to hold. It is also an answer to those who say that bitcoin do not have future, here they can get the answer that people have that longer trust on bitcoin and they do not worry to keep their money in bitcoin for that longer time.

One of the best things today, if you are now earning a lot of money, is always set a goal because some of us today even we can earn enough money we are going to content because we can now survive the life but still always make a goal in your life. In the first stage of your process to earn is it is hard at the start because you are doubting and having negative thoughts but still always look for your goal. Today with the use of cryptocurrency too and have good knowledge and skills, you can now earn more and faster of money with the use of trading, and gambling life becomes easier but still take care of all of your actions.

I also think the same way. Because the time we are living in at present is all about speed. No one is that insane to follow a method for eight years to make money. We all know that the rate of coins’ changes with each day and therefore it is always good to keep shuffling your coins and investments so that you would at least be making some money tagged as profit. Otherwise it would never be a reliable perspective of keeping a process elongated to many years and desiring that the required outcome would actually be achieved.

[coinfinger]

x1,000 of your capital is quite hard to achieve now that we are not anymore in the early stage but your dedication will make it possible.

Yes, hard work always pays off. Also, we need to remember that fortune favors the brave. I guess 1000 times of initial capital is possible but only in long run like in years and definitely not in months. If OP is not rushing toward his goal, I guess it will be easily possible; given that he is good in technical analysis.

$1k to $1M? Its almost an impossible journey.

Nothing is impossible in trading when you are equipped with all required skills. This is not a big rocket science but understanding the nature of volatility will turn any money into millions. Understanding the market will become possible for anyone when they keep learning out of their experiences. Trading is such a good opportunity for the people who are loving it with all possible efforts. Lazy people blame it out of their effortless attempts.